American in Russia here. I'm very far from an economist, but the poor exchange rate hasn't been a big factor. And "crash" seems a strong term. Maybe I'm wrong but for what it's worth, here's a boots on the ground comment saying that this isn't seeming like a big deal in the life of a GAW guy in Russia.
Not really, but I have been telling them and they are happy to hear it
Their starting position is one of respect anyway. For example, I met a guy in a park who was obviously a Russian patriot, dressed in the blue and white telnyashka and a Soviet-era hat, and had a few drinks in him so he was speaking freely. He heard my family speaking English and started a friendly conversation. The first thing he wanted me to know, before he found out that I was completely in support of Russia and disagreed with US foreign policy, was that he regarded me as a person and respected me, regardless of what my country’s politicians do. This kind of sentiment is typical. But one lady broke out in tears when she saw me wearing a St. George ribbon and showing reverence when we passed a church, from relief. So I think there is fear that people are against them. Being an American here, I have had some chances to go on TV and encourage people that way. A strange little mission for a digital warrior but there you go.
AHHHHHH...очень хорошо!!!!!!!! OUTSTANDING...people!!! Brings back fond memories of taking college level Russian from a REAL person with a background!!!!!!
The ruble isn't backed by gold. You can buy rubles from the Russian government with gold but that's not backing; backing would be if the Russian government would let you exchange your paper rubles fr gold when you ask and they aren't doing that.
So why would anyone want to trade their gold for paper rubles? Russia is requiring that their exports (mostly oil, to countries not participating in the sanctions) be paid for in rubles. So what's really going on with the ruble and gold is that Russia has found a way of getting the rest of the world the prop up the ruble.
The thought occurs to me that Russia has a LOT of enemies who are corrupt, tyrannical, unethical, and that certain forces wanting to either crash or make it seem like the ruble will crash, would do so with relish.
Repeat a lie often enough, and people will believe it. Push the idea that the ruble is in trouble enough, and maybe it will actually happen. Them bastardly bankers know all the tricks in manipulating currency markets....
Either way, raising Interest serves just one purpose, to Remove that one Currency, so maybe they're trying to get people OFF of the central Banks Currency and moved over to the NEw stuff.....
I am not sure what the difference is neither. If Russia is backing its currency with gold, announced earlier in the year, by implication they have returned to a gold standard, it should be the same across the board. A gold backed currency cannot be manipulated by speculators which is more or less all that exists of so-called investors in Wall Street these days.
Maybe you are right. When Putin announced it in late winter, I assumed it was a done deal. Later on we heard about BRICS launching their own version of an international gold backed currency to compete with the dollar.
I remember reading that 15th aug was when Russia was going to release its gold back BRICS currency so funny the old ruble crashed.
Maybe it was done on purpose to get people to adopt the new Currency.
Huh? Yeah, I wasn't sure what to make of it, I hadn't heard anything else about it. I just knew what was going on with Michael Burry and when I saw it, I thought I would share.
If the ruble is gold backed, how did it crash?
American in Russia here. I'm very far from an economist, but the poor exchange rate hasn't been a big factor. And "crash" seems a strong term. Maybe I'm wrong but for what it's worth, here's a boots on the ground comment saying that this isn't seeming like a big deal in the life of a GAW guy in Russia.
Boots on the ground is the best kind of update. Spasibo.
Не за что!
Two answers:
🙏❤️
AHHHHHH...очень хорошо!!!!!!!! OUTSTANDING...people!!! Brings back fond memories of taking college level Russian from a REAL person with a background!!!!!!
spaceba'
Отлично я любишь это!
Ты любишь, я люблю)))
I speak Greek but I'd love to learn Russian!
My other comment...
This is where discernment makes all the difference, tyvm anon.
that makes sense since i just read an article the other day that sanctions against Russia weren't hurting the Russians, but hurting Europe and USA.
Russia devalues the Ruble when it has a large inventory it wants to sell overseas.
It's a temporary measure, they have a history of doing this apparently. Nothing burger.
The ruble isn't backed by gold. You can buy rubles from the Russian government with gold but that's not backing; backing would be if the Russian government would let you exchange your paper rubles fr gold when you ask and they aren't doing that.
So why would anyone want to trade their gold for paper rubles? Russia is requiring that their exports (mostly oil, to countries not participating in the sanctions) be paid for in rubles. So what's really going on with the ruble and gold is that Russia has found a way of getting the rest of the world the prop up the ruble.
I'm pretty sure we used to have Depressions when the US was on the gold standard.
https://www.disclose.tv/id/nwtcwj405c/ https://truthsocial.com/@disclosetv/110892675634269434
I wonder if this is planned somehow to bring in the gold backed BRICS currency.
The thought occurs to me that Russia has a LOT of enemies who are corrupt, tyrannical, unethical, and that certain forces wanting to either crash or make it seem like the ruble will crash, would do so with relish.
Repeat a lie often enough, and people will believe it. Push the idea that the ruble is in trouble enough, and maybe it will actually happen. Them bastardly bankers know all the tricks in manipulating currency markets....
just saying.
Maybe, definitely seems to be a lot going on right now 🙏
Not sure how the ruble can crash if its pegged to gold.
I saw someone mention, this is the central banking backed ruble, not the BRICS backed ruble. I'm not sure the difference
Either way, raising Interest serves just one purpose, to Remove that one Currency, so maybe they're trying to get people OFF of the central Banks Currency and moved over to the NEw stuff.....
Raising interest rates are intended to get investors to support the ruble, is it not?
12% interest is a way of mitigating the risk. If the ruble is shaky you may not put your money there at 3%. At 12% it's a different calculation.
What is a "BRICS backed ruble"? I can't seem to find any information on such a thing.
Just did a quick search on GAW, might not be the best info
https://greatawakening.win/p/16c1uh3rhV/gold-backed-brics/c/
I am not sure what the difference is neither. If Russia is backing its currency with gold, announced earlier in the year, by implication they have returned to a gold standard, it should be the same across the board. A gold backed currency cannot be manipulated by speculators which is more or less all that exists of so-called investors in Wall Street these days.
I don’t think it is pegged to gold yet. There’s talk of them setting up a gold backed currency, but I expect that has a way to go still.
Maybe you are right. When Putin announced it in late winter, I assumed it was a done deal. Later on we heard about BRICS launching their own version of an international gold backed currency to compete with the dollar.
$ is already down to 98 R to 1 $
I remember reading that 15th aug was when Russia was going to release its gold back BRICS currency so funny the old ruble crashed. Maybe it was done on purpose to get people to adopt the new Currency.
I thought Russia had thrown the central bank out???
???
Interesting, but it looks fine to me: USD/RUB (Yahoo Finance)
EDIT: I was wrong. The chart does show a weakening ruble. Thanks u/merf!
WHAT!?! You are supposed to listen to the MSM and not do your own research. You should be panicking and send all of your money to Ukraine.
That chart means if you converted USD to RUB, you would get roughly 25% more now than you would a month ago. Which means weakening RUB.
25% devaluation is significant. Do what you can to support them within legal means.
In my defense, I was doing a hand stand when I looked at it. ;)
You are right, I did read it wrong. Thanks merf!
Trade sanctions are the main factor that would push things in the direction of decoupling? Correct?
Huh? Yeah, I wasn't sure what to make of it, I hadn't heard anything else about it. I just knew what was going on with Michael Burry and when I saw it, I thought I would share.
No worries, disclosetv is typically on point. Still worth a discussion.
Yes Correct
Probably financial chicanery from the Globalists. *Remind me in 3mo
I feel so bad for the people of Russia. It is the innocent that always suffer in war.