The Ruble has been around for 500 years.
Buy! ;)
Gold backed currency?
Printing press backed currency?
Hmmmmm.
Looks like Joek f up.
More STICKING IT TO THE RUSSIANS!!!
said otherwise, the dollar loses value against the ruble...
I wonder how much Soros just made.
The central bank raised interest rates to 20%, forced Russian exporters to convert 80% of their foreign exchange revenues into rubles, and limited the amount of money Russians can withdraw from foreign-currency accounts to $10,000. All of this, as well as Putin’s demand that countries pay for natural gas with rubles, was designed to create false demand for the ruble and control the domestic market. The one problem with all of this, of course, is that at some point it has to come to an end.
While Russia is surviving, the long-term outlook for the Russian economy is dire. The extreme measures that have been put in place to counter sanctions are not long-term solutions, and if the illusion of stability in the ruble eventually collapses, the economy will too. The country also has to deal with its inability to access the technology and goods necessary to maintain key industries. Other realities such as ‘brain drain’, caused by international isolation, and the eventual reduction in demand for its oil and gas exports will only further diminish its economic strength. Russia has survived sanctions better than almost any other country could, but the struggle is far from over for Moscow.
https://oilprice.com/Energy/Energy-General/Why-Russias-Economy-Hasnt-Collapsed-Under-The-Weight-Of-Sanctions.html
Stupid people see the world through only through their own frames and biases. When those blind ideologues are in Washington DC, they create great danger to everyone.
They can’t conceive of a world that doesn’t act according to their self-important, blinkered views of economics, culture, religion
Good money in selling oil huh Joey.
Wonder how long the line of dots are that connect Joey to Putin’s part of the take?.
Ruble exchange rate is meaningless because Russia is restricting the trade of Ruble.
They are doing capital control just like the CCP. They won’t let anyone in their country trade their rubles for Dollars and move their money offshore. So the exchange rate is meaningless.
These sanctions are working great.