30 Replies to “Rouble Death Watch Continues”

  1. Go try to trade rubles at any bank for any other currency. It won’t happen. There’s zero liquidity due to the way Russia is propping up the ruble. The “value” is totally fake. Even with 18% interest.

    1. Who here said they were going out to buy Rubles? Barter is going to be the only sure bet in the near future.

    2. Allan S you are so full of crap its unreal. I can find dozens of exchanges where I could buy or sell rubles even on Duck Duck Go, who has banned “Russian misinformation”.

      1. You mean forex platforms? Newsflash, you aren’t actually trading anything on those.

  3. But, I bought some Rubles…
    Love theses sets of pressed gold foil with World Soccer teams and its country and their star player per team on the other side.
    It’s really amazing what it created in currency and lots of history in coins.
    I call it treasure…and damn treasure is HEAVY!

    I also figure that old gold plated watches and jewelry must have some gold content and hence some value.

  4. Biden WARNED US … that he was SANCTIONING The American People. He told us we would have to “sacrifice” … sacrifice our American dollars … inflated to Zimbabwean magnitudes. Why? To support Ukraine. It’s our American “duty” to sacrifice for the Ukraine … and Hunter Biden … and, of course, The Big Guy …

  5. The Putin Rouble death watch. There are some weird things happening. Germany pledging off Russian natural gas without actually stopping the purchasing. India politely telling the west to go stuff itself. China’s economy kind of crashing like the Hindenburg. Russia’s currency strengthening as it pounds the crap out of Ukraine. The US dollar strengthening while the country is run by a demented imbecile who is less popular than the Donald. Elon Musk taking Twitter private and leftists suddenly worried about free-speech. I wouldn’t doubt the Ukrainian currency being renamed the rubble.

  7. I dunno… Part of me feels like this is good news. I’m just not sure which part. Maybe it’s the schadenfreude part.

    Does that make me evil?

  9. Related.

    In addition to the yuan, the bank will also add the Canadian and Australian dollars, signaling a shift in the bank’s “whole investment guidelines and philosophy,” Abir said. Previously, the bank only held US dollars, euros, and the British pound.

    Israel’s reserves stockpile will surpass $200 billion for the first time.

    Moving forward, the yuan will take up 2% of the bank’s reserves, and both the Canadian and Australian currencies will have 3.5% each, according to the bank’s annual report.

  10. You completely miss the point if you think the ruble vs western currencies is any longer relevant. Weaponizing the dollar just hastened the development of a parallel economy which is completely independent of the dollar. We’re watching the rise of China and the decline of the west. Ignore that at your own peril.

  11. The Russian Rouble is now backed by gold. Russia is the key supplier of oil and gas to much of Asia and Europe. Thanks to the actions of Trudeau and Biden, American and Canadian oil and gas production has been reduced and prevented from expanding. Between Ukraine and Russia they supply 25% of the worlds wheat that is exported. President Putin now accepts gold or roubles as payment and not Euro and US dollars. Due to Biden’s dementia and the people around him they are on the verge of destroying the US dollar as the world reserve currency. They thought by cutting the Russians off from US dollars it would hurt Russia rather than seeing that this action would lead to an alternative global trade system that leaves out the democratic countries currencies.

    1. What do you mean by “backed by gold”? If you mean redeemable in gold, that is not the case at all.

      I can trade Canadian dollars for gold at my local coin shop, but that doesn’t mean the dollar is backed by gold. The dollars stay in circulation as they are just transferred to the previous owner of the gold. That is not the same as redeeming them, i.e. returning the original bill to the issuing bank who gives me my gold and removes the bill from circulation.

      1. Why do you assume the amount of gold is constant?
        The bank can keep the bill until one more gram or whatever of gold is mined, then release it again.

        1. Precisely. The bill cannot circulate unless the requisite amount of gold comes back on deposit. I never said anything about the amount of gold being constant.

  12. All fiat currencies in existence are simply derivatives of the U.S. dollar. It became the reserve currency not because it is pristine, but because it is the least dirty shirt in the drawer. In other words, while all issuers of fiat currency are heading for default, the U.S. is likely to be last to do so.

  13. I don’t quite understand why so many conservatives think that consuming staggering amounts of valuable resources in order to invade and destroy the infrastructure of another country is somehow economically beneficial to the invader. Wars are not a net benefit to those that wage them. They are a net subtraction from economic growth.

    1. They are an investment. Ones mines, farms factories and taxes are in possession of the victor, the investment starts to pay off.

      1. Not if you level the factories with artillery and bombs and seed the fields with mines.

        1. That’s why Russia is trying not to level the infrastructure, which gives a tactical advantage to the Ukrainians.
          Still, even if it all gets leveled, the resources are still in the ground and the arable land is still there, that just means it’ll take longer to recoup the losses.

    2. “Wars are not a net benefit to those that wage them. They are a net subtraction from economic growth.” Who’s economic growth? Setting aside outside interference, I’m sure if that if Russia can beat and subsume Ukraine, then 20 years from now Russia’s economy would be better off than if it hadn’t. Would it be as much as Russia + Ukraine? No, but why does Russia care about that question? It would be better for Russia.

      To your first comment though, conservatives aren’t historically advocates for war unless attacked. Not wanting to get involved in other people’s business is not the same thing as wanting war, in fact generally it leads to being involved in less wars.

    3. @Dennis.
      Really?
      If war was not profitable,why is it so common?
      A successful theft of assets while selling the losers into slavery has always been our way..
      Why do you think Genghis Khan so terrified Europe?
      Right now,who is profiteering from The Ukrainians need for weapons?.

  14. So this Rouble Death watch is on par with Russia’s “certain defeat” by Ukraine?
    The narrative keeps shifting..I have lost the programme.
    Has the evil Dr Putin made our media a better offer?
    Has the great war hero Z had to move his green screen yet?
    I am waiting for Dear Leader,Emperor Justine the Petulant,to tell me how I must feelz…

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