Glad true journalism is still alive. The doctor at the morgue overfilled with bodies that strewn on the floor chocking back tears is especially powerful.
Can we get with the program? Chris Rock has been bitch slapped.
I ed your post because I like to get information, but I’m not happy that the Russians are suffering.
I’m also not happy that the war is interfering with Ukrainian farmers’ ability to make a living, and is possibly decreasing that country’s food output.
Seems the story is starting to die. Putin is happy. Even war has a shelf life.
“Violence is never the answer!”
We will find out very soon if this is a bluff or not.
2 days later and it (ruble) filled the “gap” since it tanked when Russia attacked Ukraine.
Today/tomorrow is when there’ll be lots of headlines about rubles/oil or other logistical payment systems for the trade.
Do you know why it is appreciating in this way?
Yes. do you?
Veering away from the emotional discussion of the war, what happened a few days ago that I posted about, is that Russia is now demanding rubles for gas.
There are so few rubles floating around outside of Russia (unlike USD, which is in the hundreds of billions. Side note: The greatest number of $100 dollar bills, Benjamin Franklin, is actually OUTSIDE of the U.S.)
With so few rubles and potential increased demand for them to pay for the gas, the natural thing is for rubles to appreciate.
The other story is:
The mainstream media is not talking about this much, because it goes against USD(ollar) hegemony.
Recently, the Russian central bank announced that it will put the ruble on a gold standard. The bank pegged 1 gram of gold to 5,000 rubles. Now that means, one troy ounce of gold or 32 grams of Gold would now cost 1,60,000 rubles in Russia. At the current exchange rate, 32 grams of gold would cost roughly $1,600 in Russia.
But wait, in the US, the same quantity of gold would cost you $1,928. That means Russia has effectively ratcheted up its currency’s value against the dollar by pegging it to gold. If, 1 gram of gold is bound to 5000 rubles, then according to Western standards, the ruble must be valued at 70-75 units against 1 dollar.
Russia is basically allowing its citizens to buy gold “on the cheap”, thus strengthening its currency (in theory, and so far, it may be following theory).
Yea, that’s the problem paging will Smith
Yes because war doesn’t involve emotions.
Veering away from inane shite. Or sorry something about Ukraine?
The discussion of this conflict can also be on the ramifications in regards to economics/economies and financial markets.
Now, if people want to cry over the death of USD hegemony, I am fine with that (even as an American). Go ahead.
And now this, which quotes Bloomberg (no April Fools joke):
According to Bloomberg, Putin said he had signed a decree demanding payment in rubles for Russian gas supplies, which is set to begin April 1 as previously reported. According to the decree, while Russia will continue to supply gas at set volumes and prices, it will demand that buyers of gas open accounts in Russian banks, and warned that Moscow can halt gas contracts if buyers don’t pay in rubles; additionally, new proceedings in EUR or USD could be blocked. Pushing what many viewed as a bluff to the edge, Putin said that active contracts will be halted if demands are not met, and explained that the move is meant to increase settlements in national currencies.
Rumpelstilskin has spoken
1390 posts were split to a new topic: Ukraine Invaded by the Russians - April 2022