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The Russian Ruble - It's a funny old world

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From: the.happ...@ntlworld.invalid (The Happy Hippy)
Newsgroups: uk.current-events.terrorism
Subject: The Russian Ruble - It's a funny old world
Date: Fri, 8 Apr 2022 02:03:18 +0100
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by: The Happy Hippy - Fri, 8 Apr 2022 01:03 UTC

https://www.npr.org/sections/money/2022/04/05/1090920442/how-russia-rescued-the-ruble

Russia said last week that it wants the European countries that buy its natural gas to make their payments in rubles, rather than dollars or euros.

A month ago, that might have seemed like a pretty good deal: The ruble was down 40%, at 139 rubles to the dollar, in the wake of Russia's invasion of Ukraine.

Since that low point on March 7, however, the Russian ruble has staged a dramatic recovery. At the time of this writing, it was trading at 84 to the dollar, which is right back where it was at the time of the invasion. And this is no dead cat bounce. It's a sharp and sustained recovery that made the ruble the world's top-performing currency in March.

</quotes>

Biden had bragged that the Ruble had been reduced to "Rubble" by sanctions.

That seems to have been a little premature.

Re: The Russian Ruble - It's a funny old world

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by: TWP - Mon, 11 Apr 2022 21:53 UTC

On 08/04/2022 02:03, The Happy Hippy wrote:
> https://www.npr.org/sections/money/2022/04/05/1090920442/how-russia-rescued-the-ruble
>
> <quotes>
>
> Russia said last week that it wants the European countries that buy its natural gas to make their payments in rubles, rather than dollars or euros.
>
> A month ago, that might have seemed like a pretty good deal: The ruble was down 40%, at 139 rubles to the dollar, in the wake of Russia's invasion of Ukraine.
>
> Since that low point on March 7, however, the Russian ruble has staged a dramatic recovery. At the time of this writing, it was trading at 84 to the dollar, which is right back where it was at the time of the invasion. And this is no dead cat bounce. It's a sharp and sustained recovery that made the ruble the world's top-performing currency in March.
>
> </quotes>
>
> Biden had bragged that the Ruble had been reduced to "Rubble" by sanctions.
>
> That seems to have been a little premature.
>

He's just creating a shortage of Roubles by forcing everyone to buy
them. Eventually wouldn't they have to debase the Rouble to keep up
supply? That's the position the US finds itself in with the Dollar - if
it stops being used for oil it'll drop to parity with the Golgafrincham
leaf. Basically the Rouble is going to have to go down again by design
if not naturally.

You are false data.

aus+uk / uk.current-events.terrorism / The Russian Ruble - It's a funny old world

aus+uk / uk.current-events.terrorism / The Russian Ruble - It's a funny old world

Subject	Author
The Russian Ruble - It's a funny old world	The Happy Hippy
Re: The Russian Ruble - It's a funny old world	TWP