55 Replies to “Ruble Deathwatch Continues”

  3. Keeping a high value currency is not generally considered good economic policy. When the Canadian dollar approached $1.10 US from high value oil exports the government could act fast enough to crush the dollar to allow other goods to be exported. What is keeping the Ruble strong is they are exporting much high value oil while importing almost nothing. The Godless Russian Butchers will eventually tire of a borscht based economy.

      1. Have you noticed, that of all your betters who you told to leave none has left, yet? Maybe because you and your wants and demands do not matter to your betters?

    2. When this is over, the Russians will be eating Chicken Kiev and laughing at America’s attempt to prop up the head clown of the money laundering snake pit, Ukraine. The Bidens are losing a revenue stream here and that is their motivation to squander American fortune and reputation.

  4. A high rubble only means that export value exceeds import value. That’s it. So they can sell some oil and gas but cannot buy anything. So obviously the value of the rubble goes up as a matter of course.

    And because the rubble has appreciated so much AND because they have to offer even deeper discounts to China, their net returns from oil and gas are LESS than they were prior to February 24.

    And oil shipments from their east coast are limited.

    And because their oil production sector was overseen technically by western contractors who relied on western components, their oil production is now DECLINING by about 3% per quarter.

    It’s not going well for them

    1. HannaH
      But Russia has the industrial ability to reverse much of the problems you refer to.

      1. Good lord not even close! I’m a P. Eng. and trust me, you can creep along and stay operational but you will be down more than you will be up. Quality goes to shite. Problems compound and eventually you are making 1/3 to 1/2 of your capacity and the financials end you.

    2. “they can sell some oil and gas but cannot buy anything”. Complete crap. Anyone with money can always buy anything, anywhere. It’s just a matter of price. Poor Russians couldn’t buy much before the invasion. Rich Russians have to pay a higher price. But don’t think the Russians can’t buy anything. If you can export to Belarus, India, many African countries, Kazakhstan, then you can export to Russia. Of course a strong currency helps.

      1. Yeah the rich can buy their tv’s and computers and watches. But a chemical or fertilizer or oil refinery that needs special catalysts, specific metallurgy, key electronics and chips is down and down for awhile. Production and quality erodes fast.

        1. China makes a lot of that stuff. Too bad they weren’t chummy with the Russians like they are with the Americans.

          2. And you know that with certainty? Oh wait, you don’t it is just, your generic, feel goo, “nothing to see here, move along” reply.

    3. Man, I could only wish that our oil exporting was going as well as theirs is!

    4. HuThe Russians are selling less oil and gas and receiving more money for it. China, India, Africa, many South American countries and other’s throughout Asia have no problem trading with Russia.
      Russia isn’t collapsing, Europe is, in fact it’s starting to get really serious. Macron failed to win a majority Sunday, the press are starting to go after Borris, so he’ll be gone in six months. Inflation and starvation make “strange bedfellows” lover’s.
      The elites of the west need to be wary, and just in case you’re not a fan of history, an “elitist” is anyone who ate while you went hungry.
      Check out the Russian foreign minister’s interview with the BBC. He basically told the UK government to put up or shut up, dared them to attack Russia.
      The Americans and the Brits will fight Russia to the last Ukrainian, the last Pole as well should they be foolish enough to join the slaughter.
      The west is imploding and fools have bought into the narrative lock, stock, and barrel.
      Ukraine has reverted to form and is once again murdering civilians in a vain attempt to get NATO involved.
      NATO won’t because they (not the presstitute brass, but the real brains) know that they would get their asses kicked good and hard.
      The really scary part of all of this is that if by chance fools prevail, the clowns who thought this up will decide they have no option but to go nuclear.
      Russia has always maintained that they will never use nuclear weapons as a first strike, the US has never taken that option off the table, just as they never signed on to the Rome Statute. These fools actually believe that they can win a nuclear conflict with a country that has over two thousand warheads and the ability and materials to make many more, as well as a hypersonic delivery system capable of reaching out and touching you in any part of the world. Let that sink in
      https://www.wsj.com/articles/the-us-show-it-can-win-a-nuclear-war-russia-putin-ukraine-nato-sarmat-missile-testing-warning-11651067733
      And here you are stuck in narrative. I would suggest perhaps that you check out the new Atlas, or the Duran, or perhaps iEarl Grey, to expand your viewpoint.
      Get out of the echo chamber. You’re too smart to be in it. Hug your children and pray saner heads prevail, although at this point in time I don’t know where we will find them.

      1. Utterly delusional Kremlin propaganda. All of it is weapons grade bullshit but this part is best:

        “Ukraine has reverted to form and is once again murdering civilians in a vain attempt to get NATO involved.
        NATO won’t because they … know that they would get their asses kicked good and hard.”

        First an utter pathetic lie. Ukrainians are not murdering civilians. Siberian subhumans are doing that and raping and pillaging. In other worlds they are being russian.

        As for conventional war, NATO would curb stomp the siberians without breaking a sweat. Siberian performance on land, sea and in the air has been below their traditionally pathetic standards. Their inept subhumanity is showing every day. A fourth month of a planed few day cakewalk is ending, and they can’t subdue a much weaker (but competent) opponent and are taking crippling loses while trying it. It will take many years to rebuild their military and by then demographics will catch up them and the nice siberian vs mooselimb civil war, will once and for all, consume the shithole.

        1. I think claiming that Ukrainians to be above killing civilians is a bit naive and probably counter factual. Calling a race of people “subhumans” is why you are not to be taken seriously.

          1. What “race”?

            BTW Ukrainians are not deliberately killing civilians. Russians are. Nor do Ukrainian, rape, plunder, send people to gulag, kidnap their children etc. Russians do all that.

          2. P.S. … and all those things and the mass acceptance of them among russians plus their love of their own tyrants make them subhuman. Thank you for calling.

          3. I don’t know what planet you just arrived from, but this planet has a lot of what could be called ‘subhumans‘. They are the psychopaths such as Justin Trudeau. He has no concern for the ignorant peons who elected him, nor anyone else. Same with Maduro in Venezuela, etc.

            Humans have compassion, conscience, caring.
            Sub humans run for office and don’t give a shit about anything, but themselves.
            …….. The really stupid ones are members of Antifa and BLM.

            Have you not noticed this?

            .

          4. “Humans have compassion, conscience, caring.”

            Russians don’t, hence subhuman, film at 11.

  6. Q: Prime Minstrel, do you have a comment on why Putler and Russia!, Russia!, Russia! are doing so well while you lead us into economic armageddeon like a limp wristed Pied Piper ?

    A: Harper, Harper, Harper !!

  7. Something to note in that article: the rising Ruble needs capital controls. Basically, that’s the state limiting how much of your own wealth you can take out of the country, which is a subtraction from freedom, not an addition.

    Look at the Ruble over the last 20 years. It’s a steady downward slide. I doubt that the recent uptick is going to reverse the long term trend.

    No matter what side of this debate you are on, invading your neighbor is a net subtraction from your economy. Wars are an enormous and destructive drain of resources.

    1. Dennis, if what remained of Russia’s globalist fifth column finally decided they’d worn out their welcome, then it was not in the interest of loyal Russians to let them take anything of value with them. If they’re as smart and talented as their mommies always said they were, I’m sure they’ll do just fine in Yerevan or Tashkent.

      Will a war with NATO cost Russia dearly? Yes. Refusing to defend herself would be more costly still.

      1. A war with NATO would end Russia. Oh and that ‘globalist 5th column’ is simply everyone with a brain. Brain-drain en masse.

  8. Moving to St Petersburg. Putin might not be perfect, but at least he doesn’t despise or attempt to destroy the country he leads like Turdo and Dementia Joe.

    1. Don’t let the door hit you on the way out. Have fun burning to death in a T62 somewhere in the Donbass.

  9. So much for the “sanctions”, sure taught those Ruskies a lesson!!!!!

    Eminently predicted, and came true, the sanctions were a Trudeau special.

    All about Virtue Signalling, and, shooting oneself in the foot.

    LET’S GO BRANDON!

  10. The “sanctions” are meant to hurt citizens of the west, not Russia… blame Russia for high gas prices… gaslighting to the extreme.

    If punishing your own citizens while virtue signaling about “sanctions” on a non Globalist country was the plan all along then…

    The Globalist Dickholes that rule Canada and the USA are succeeding beyond their wildest dreams.

    1. If there is no liquidity and the price is appreciating, that would suggest few sellers amidst strong demand. Why isn’t everyone dumping the ruble?

  12. If you are confident in the Russian economy, buy some newly issued Russian bonds. They pay good interest. Oh you didn’t read the fine print? You get paid in Rubles only. Good luck finding a buyer.

    So you go to sell the bond. Problem. The face value has dropped 75-80% even though you just bought it.

        1. Why can’t I get paid in Rubles, in Russia? I can send USD and EUR to Russia, no hassle really. Well, a small hassle. But I can stockpile Rubles. At 5000₽ an oz for a gold price in Russia, it’s a nice hedge. If I am Poland or Germany, it’s a fine stockpile for purchases of natgas, oil, nickel…

      3. Try to trade Canadian dollars outside of Canada I would wait until all my money was gone before cashin in

        1. Any bank around the world will accept them and convert to local currency. I used ATMs in foreign countries and was withdrawing money in local currency from my nominally Canadian dollar accounts. This should not be a revelation.

  13. Want to see a Russian let out a huge belly laugh? Walk into a bank in Moscow and ask to exchange dollars into rubles at the official rate. If you have black market connections you will get 2 or 3 times as many rubles for your dollar. The official rate is pure bullpoop.

    1. You’ve done that, have you? My mates (who are Ukrainians who moved to Москва, and who assure me they will never return to the failed state shithole that Ukraine has now become) are doing it as we speak.

      Which bank did you go to?

        1. Eeerr … whut?

          Wow the tone of reasoning here on SDA has collapsed into schoolyard taunts faster than the German economy.

          Kate, you need to police this site!

  16. As Dennis and Allan have alluded to, the rate is meaningless. Capital controls mean that rate could be any number you want it to, could be pi to the power of Elvis. It’s all Potemkin. That number can go as high as you want, Russia still can’t get the airplane parts and microchips it needs to run a war or even a normal economy. Their suffering has only just begun.

    1. unDork, scarDork, and the unintelligent Colon, just blather on showing their emotions, know knowledge at all to their posting . Russia is doing just fine, and the ruble can buy all they need to buy, just not from the socialist western assholes . As to chips and other parts for military purposes, they themselves can make most of that, and Taiwan, S Korea, and Japan can , and will supply most of the rest . You anti Russian asswipes in here are in for eating a large portion of crow in the near future.

      1. ” just blather on showing their emotions, know knowledge at all to their posting”

        Vatnik projection

        “As to chips and other parts for military purposes, they themselves can make most of that, and Taiwan, S Korea, and Japan can , and will supply most of the rest .”

        No they won’t and no they won’t. Cope harder vatnik

  18. Has everyone forgotten that Russia was busy buying gold these past few decades. And has anyone not paid attention to Putin’s announcement that the Ruble was backed by gold. Those western countries buying Russian gas/oil have two choices, ie. pay with Rubles or gold. Western fiat currencies are not welcome in Russia.

    The days of the supremacy of the American “petro” dollar is fast coming to an end. Same goes for the Canadian dollar and Euro.

    1. BRICS is coming along nicely. We’ll see a reserve currency to rival the USD fairly soon. Backed by a basket of currencies and commodities. The very opposite of “full faith and credit of the US government” … which let’s be honest, works only for NATO plus Australia and Japan nowadays.

      Everyone else has now sat up and taken note: if they’ll steal that much of Russia’s reserves (over what to 6/7 of the physical humans on planet earth, was a reasonable intervention in a looming genocide on their borders) what will they feel entitled to do to us?

      The USD dominance is over. It will still be a reserve currency. But other nations are now de-dollarizing gently, so as not to collapse the dollar entirely. Until they are ready to, that is.

      I hear Europe is effed, though. No real sufficiency in natural resources. Their standard of living is now over. Future energy for them is going to be very, very expensive.

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