The only reason the ruble is holding is that Russia is offering a 14% interest rate. That has kept the currency from collapsing, but it also is destroying their economy.
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Many factors, China opened up about 80 banks in Russia recently, offering 8-12 percent interest, ( your quotes on Russian interest rates, I would like to see reference). and now the Yuan, Indian Rupee, and Ruble are convertible. That is more than half the worlds population dumping dollars, even the financial greats are saying prepare for 7-10 trillion in USD dollars coming home- the USD has been dethroned, like it or not.
Throw all those dollars coming home piled onto our inflation, ……
Vlad and Xi say checkmate.
“That is more than half the worlds population dumping dollars, even the financial greats are saying prepare for 7-10 trillion in USD dollars coming home- the USD has been dethroned, like it or not.”
If you believe that, then riddle me this. Why has the USD increased in value over the last months vs the other major world currencies? (Rupee, Yuan, Euro, Yen, etc.)
Weird sort of collapse when something steadily goes up in value.