That's what Putin just did, in fact - He paid with worthless Rubles. Which day in and day out are worth even less.

I don't understand why everyone thinks this is an own by Putin. Saying that Russia's debt will be paid in Rubles to countries that imposed sanctions doesn't give him any advantages. Those countries will get what they want out of it - the money which they can exchange - while Russia will be paying more than it would otherwise, because let's say a 1000 Ruble debt from last year (just for ease of argument) has become a 1500 Ruble debt today since the Ruble has been steadily decreasing in value.

"Decreasing in value" DOES NOT mean that the countries who were owed money are receiving less money, they're still receiving the same amount after exchange. What it means is that Russia will be paying more, since they needed to pay (let's say) 1000 before and now they need to pay 1500 because of the decreasing Ruble value.
Whoever was owed 1000 Rubles back then (which after exchange made up let's say 1000 of their currency) is now owed 1500 Rubles (which is still 1000 of their currency so they didn't lose anything). It's Russia that is paying more to make up for the loss of value of their currency.

This is only an 'own' in the sense that countries who were owed a debt aren't able to get their money unless they ease sanctions (otherwise they can't access it). In the long run though? The Ruble will be a worth a whole fucking lot less from Russia's default in the economy. Think of how the venezuelan peso is worth less than a single penny of the dollar - in the sense that you could buy a whole building in Venezuela with the money you bought a jacket or a sneaker in the US. That's what happens to an economy when it defaults.

That's what Putin just did, in fact - He paid with worthless Rubles. Which day in and day out are worth even less.

I don't understand why everyone thinks this is an own by Putin. Saying that Russia's debt will be paid in Rubles to countries that imposed sanctions doesn't give him any advantages. Those countries will get what they want out of it - the money which they can exchange - while Russia will be paying more than it would otherwise, because let's say a 1000 Ruble debt from last year (just for ease of argument) has become a 1500 Ruble debt today since the Ruble has been steadily decreasing in value.

"Decreasing in value" DOES NOT mean that the countries who were owed money are receiving less money, they're still receiving the same amount after exchange. What it means is that Russia will be paying more, since they needed to pay (let's say) 1000 before and now they need to pay 1500 because of the decreasing Ruble value.
Whoever was owed 1000 Rubles back then (which after exchange made up let's say 1000 of their currency) is now owed 1500 Rubles (which is still 1000 of their currency so they didn't lose anything). It's Russia that is paying more to make up for the loss of value of their currency.

This is only an 'own' in the sense that countries who were owed a debt aren't able to get their money unless they ease sanctions (otherwise they can't access it). In the long run though? The Ruble will be a worth a whole fucking lot less from Russia's default in the economy. Think of how the venezuelan peso is worth less than a single penny of the dollar.

That's what Putin just did, in fact - He paid with worthless Rubles. Which day in and day out are worth even less.

I don't understand why everyone thinks this is an own by Putin. Saying that Russia's debt will be paid in Rubles to countries that imposed sanctions doesn't give him any advantages. Those countries will get what they want out of it - the money which they can exchange - while Russia will be paying more than it would otherwise, because let's say a 1000 Ruble debt from last year (just for ease of argument) has become a 1500 Ruble debt today since the Ruble has been steadily decreasing in value.

"Decreasing in value" DOES NOT mean that the countries who were owed money are receiving less money, they're still receiving the same amount after exchange. What it means is that Russia will be paying more, since they needed to pay (let's say) 1000 before and now they need to pay 1500 because of the decreasing Ruble value.
Whoever was owed 1000 Rubles back then (which after exchange made up let's say 1000 of their currency) is now owed 1500 Rubles (which is still 1000 of their currency so they didn't lose anything). It's Russia that is paying more to make up for the loss of value of their currency.

That's what Putin just did, in fact - He paid with worthless Rubles. Which day in and day out are worth even less.

I don't understand why everyone thinks this is an own by Putin. Saying that Russia's debt will be paid in Rubles to countries that imposed sanctions doesn't give him any advantages. Those countries will get what they want out of it - the money which they can exchange - while Russia will be paying more than it would otherwise, because let's say a 1000 Ruble debt from last year (just for ease of argument) has become a 1500 Ruble debt today since the Ruble has been steadily decreasing in value.

"Decreasing in value" DOES NOT mean that the countries who were owed money are receiving less money, they're still receiving the same amount after exchange. What it means is that Russia will be paying more, since they needed to pay (let's say) 1000 before and now they need to pay 1500.
Whoever was owed 1000 Rubles back then (which after exchange made up let's say 1000 of their currency) is now owed 1500 Rubles (which is still 1000 of their currency so they didn't lose anything)