MONEYWATCH Russia's ruble is the strongest currency in the world this year

Discussion in 'Current Events' started by TheAngryLiberal, Jun 30, 2022.

  1. TheAngryLiberal

    TheAngryLiberal Banned

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    Last edited: Jun 30, 2022
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  2. apexofpurple

    apexofpurple Well-Known Member

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    Imagine the world's gas station running out of money.
     
  3. TheAngryLiberal

    TheAngryLiberal Banned

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    The United States was! the Worlds top oil and natural gas producer 2 years ago and energy independent, until America got STUPID! and voted for Dumb and Dumber over Mean! tweets.
    [​IMG]
    The only thing that makes me feel good is that the idiots that voted for these Numnucks are the ones that will suffer the most from their stupidity.
     
    Last edited: Jun 30, 2022
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  4. Zorro

    Zorro Well-Known Member

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    Well, some of that may be true, but the Ruble? I don't think that is working out as Biden and the Dems predicted.

    Turkey Agrees To Pay For Russian Gas With Rubles

    [​IMG]
    "Turkey imports nearly half of the gas it uses from Russia".

    The Ruble is up 129% in 6 months, in dollar terms. In fact, it's at 8 year highs.

    [​IMG]https://www.cbsnews.com › news › russia-ukraine-ruble-currency-russian-economy-sanctioms-2022
    Russia's ruble is the strongest currency in the world this year
    "Russia's ruble is the strongest currency in the world this year ."
     
  5. hawgsalot

    hawgsalot Well-Known Member

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    LOL you can't make these Biden years up. Outplayed, out maneuvered at every term. Not only is Biden out in the pasture, but his group around him are as dumb as dumb gets. Way to go Brandon.
     
  6. (original)late

    (original)late Banned

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    Here's a simple question for our rubes:

    How much would it take for you to go live in Russia right now?

    It's a lousy place to live, and if you get sick, man are you ever screwed. There's a reason why people with talent are leaving in droves... In Moscow, when they say winter is coming, they aren't kidding around.

    Next, the ruble is being propped up. We've driven the dollar up, and down, when we feel like it. But to push the ruble that hard, that is going to have consequences. There is a nontrivial chance those consequences can be severe.

    Lastly, crawling towards Putin, the way you guys are doing, it's undignified. Man up, go for it, show us what you are not.
     
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  7. hawgsalot

    hawgsalot Well-Known Member

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    Some kind of weird fantasy? No one in this thread is saying anything positive about Russa yet laughing at Biden for making sorry ass Putin stronger. Hate to remind you, it's your party that said Russia isn't a threat, don't you remember the great one's debate.
     
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  8. cd8ed

    cd8ed Well-Known Member Past Donor

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    Their economy is contracting at a rate of 15% per year, they are selling oil at less than 35$ per vs 100$+ per, numerous nations are starting to transition away from them to make new agreements or starting to produce themselves — the currency is only strong because of the capital controls where the ruble cannot be converted and their primary producers must transition 50% of their reserves into ruble.

    The long term damage of this will be significant
     
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  9. (original)late

    (original)late Banned

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    Putin is pulling 50 year old tanks out of storage. He can't make new ones. The productive economy is dying. Their education and health care systems were already a wreck.

    Russia is in deep doodoo...
     
  10. Yulee

    Yulee Well-Known Member

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    Last edited: Aug 8, 2022
  11. yardmeat

    yardmeat Well-Known Member

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    That's a funny way to spell "Putin."
     
  12. Arkanis

    Arkanis Well-Known Member

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    Well, let's take it one step at a time.

    First, the ruble is high because it is artificially held at that value by the Russian central bank.

    Russians are no longer allowed to withdraw foreign currency from banks, and companies cannot do business in anything but rubles.

    If these measures were lifted, the ruble would collapse.

    In any case, this situation is totally untenable for the Russian central bank since the state can no longer borrow on foreign markets.

    Second, the MOAX (the Russian Dow Jones) has lost 40% of its value since March.

    Proof of the massive withdrawal of foreign investments.

    Inflation is at 16%, interest rates are at 11%....

    Third. Russia's credit rating is now C (Fitch and Moody's), which puts it at the same level as a third world country.

    Is it clearer?
     

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