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The ruble regained 100% of its losses and sanctions don't work
I'm very very VERY much not a economy person. Can someone tell me if I understood this correctly? Russia's economy is back on track? Can we "check it for ourselves" somehow?
According to that article, everything I thought about Russia's economy is wrong.
What are the myths and what are the facts? I hope someone who understands this better than me can tell me what is what! :wondering:
I am interested as well and I can not speak intelligently on the subject.
I'm not an economist either, but it just sounds like Putin is creating a house of cards to hold up his economy.
I mean, it works it works.Quote:
Originally Posted by rumox
Now that sanctions have failed, a lot of countries are making plans to become less dependant in short amount of time as possible to Russia's oil and natural gas. I guess they suspect this conflict to keep on for years perhaps?
Ukrainian president started offering concessions for peace, like never joining NATO and leaving Donbass and Crimea to Russia.
Ofc there's stuff like Belarus battalions joining Ukraine, Russian soldiers joining Ukraine and calling it The Legion "Freedom of Russia", and Ukrainian soldiers regaining territory. But due to US and British intelligence saying that the Russian troops are just repositioning (they've been right on everything thus far), not retreating, and that the Ukrainian president started offering concessions, I feel like Russia will in the end count as winner of thiswarspecial military operation, though less than they were hoping for.
On a personal note, idk why people still expect Putin to stop ever. He has made it very clear that he thinks the fall of Soviet Union is the biggest tragedy of the previous century and that he wants it back. He's consistent.
So here's this video, right?
https://youtu.be/FTgGZBGUjTk
Dude is "editor in chief of theduran.com" - a confirmed fake news website for Russian propaganda.
https://mediabiasfactcheck.com/the-duran/
(it also used to be on https://en.wikipedia.org/wiki/List_o..._news_websites but is no more, go figure)
Ok, we got a confirmed fake news dude posting a video. Cool.
But the facts he says are real, namely Putin did make a decree that starting April 1st Russia's natural gas and oil has to be purchased by Ruble and pretty much nobody got a choice but to do it.
Same story for Russia's agricultural export - if they switch to ruble only as well - I'd say it's very believable that there are middle eastern countries, and perhaps European as well, that'd have to buy the food they need.
But then there's his, and the comment sections (who btw predict that Putin might be remembered as one of the greatest leaders ever lived), opinions and predictions:
-That once Ruble become such a internationally important currency, every country using it would benefit, which will or might spiral out of control; a snowball effect.
I realize not everyone's gonna watch a 13min video, go fact check everything, of a confirmed fake news source. But if someone here does, I'd like to know how much you agree or disagree with their opinions and predictions?
Someone else whom I asked said it's shortsighted by Putin and desperate.
The guys in that comment section say his a genius who thinks far ahead economically; restoring rubles value was just the beginning, now makes it internationally important.
I say I lack the education to make any assessment of my own on the matter.
while the ruble's exchange rate went back to normal, reports from russia are that the price of goods has increased by about 40%. That is what i read yesterday anyway when people were circulating this.Quote:
Originally Posted by OzyWho
So the currency SHOULD be trading for much less since russians have to spend more to buy the same items. But the russian government and banks are manipulating the price by limiting supply and barring the average russian from converting their rubles to any other currency. I believe they closed the russian stock markets as well so people can't sell.
I believe i read they were offering 20% interest at banks to incentivize people to deposit all their money - https://www.cnbc.com/2022/02/28/russ...ter-ruble.html
Basically - just like a government can force inflation by simply printing more money, they also have ways to force de-inflation. But in both cases it's essentially stealing wealth from the people actually holding rubles - the citizens.
That old saying 'when the rich wage war its the poor who die' comes to mind.
From what I understand the cost of basic necessity's (such as food) is about to go up. Would be nice to think its a Ukraine issue but its coming soon to a grocery store near you.