Gold is correcting right now. Prolly profit-taking. Crypto is not real money and these events are proving it. Expect higher PM prices, shortage and the EUR to be hit massively on the forex market.
Russian CB bought Euro and others, then their Ru crashed, intervene...its like 15% discount on the bargain purchased
Propaganda. There is no discount. Russia has been adding to its foreign reserves since 2015 just after sanctions were first introduced. Putin has systematically destroyed the value of the Ruble over the past decade. As a result the government has been forced to buy more foreign currency and gold in order to maintain liquidity and prop up its economy. Contrary to what you're suggesting the 15% discount is not the result of any intelligent move on behalf of the Bank of Russia nor is it a positive outcome, it is the result of a political and economic mentality that should have died out over a half a century ago. Had the Russian government desisted with its belief that the former territories of the Soviet Union be re-united then this fabricated discount would not even exist and it may have even joined the ranks of other wealthy advanced economies.
Theses are dumb retail forex players getting crushed and small Russian businesses. Rubble is a very thinly traded currency No Russian multinational nor billionaires accept ruble as payment for international trade lol
Nah I pulled thatstatement out my A33 but seems logical. I doubt Gazprom accepts Ruble for payment for oil from the EU lol
If we are stupid enough to continue to act as a NATO FOB, then it could happen. Then again, we might not even be worth the effort.
Conservatives in the US apologising on behalf of the Russian government now. They’ll do anything to undermine Biden, and I thought only the Left eat their own.
You need to understand the culture of the new guys on the block. They are authoritarians, and I don't mean the politics is authoritarian but they are brought up in authoritarian style. When you grow up in such a circumstance, empathy is reduced or even non existence, but at the same first, you have a strong sense of flight for survival, so you fear punishment (because you were whipped or hung when you were a kid). So, as long as you're aggressive enough, they will back off. But if you show any sign of weakness, the memories of child abuse comes back and they will impose on you whatever abuse they suffered. To survive in the new neigbhourhood, you must be prepared for MAD. Over here, I even saw numerous suggestions about acquiring the nuclear bomb after Ukraine was invaded. Can you imagine, this place is so small, the size of the mornington peninsular, if an accident happens, it will wipe out the whole place. I've been looking at the figures, officially we have half the number of armoured vehicles as Ukraine! All this to defend a place a fractional size of Melbourne. The figures are official but I suspect that the actual number is 50% to 100% more. https://en.wikipedia.org/wiki/List_of_equipment_of_the_Singaporean_Army
This is what I mean. You fail to understand the new status quo. They have nothing to lose so why should they back off? They are calling the shots now.
firm and stand the ground, no pushing around well if West is faced with nukes just like NK, there is only sanctions left...no fighting lol on Ukraine, they will not react
So my Stacks trade from Jan 30 is looking very sad, Vlad certainly threw a koshka amongst the pigeons. Anyway, I entered another position at USD1.07, first target is USD1.34. As far as my other position goes (bought in at USD1.48) I'm still holding at a current loss of about 24%, the initial target was USD1.93 now it'll be get back to square lol which it will do, just not sure of a timeframe, I'd say after the second week in March.
Nothing to lose? The people in power fear losing power more than dying. And in some cultures, they fear that they are forgotten after death if there's no mausoleum. They fear this more than MAD.
A close relative was telling me about XRP. I haven't been into cryptos but decided to have a look further. Some of you may have seen this. But I'm struggling to not believe there may be more to this crypto. Watch it all or start at about 15 min 40 sec. What do others think? Geez on reading back this sounds like a spam post but it isn't. Disclosure: I bought $200 worth of XRP this week. If you appreciate my advice donate to my Bitcoin wallet # IdONtHaVeONe.
I was just about to post something about this. The west wants to exclude Russia from SWIFT, but probably XRP or Stellar can be used instead. Perhaps Stellar is more efficient, but more research is needed. I am not into crypto either, just learning about it.
XRP being Ripple's tradable crypto has it's supporters and detractors no different to other crypto assets or non crypto assets. There is plenty of negative noise out there due to SEC v Ripple case but there's also plenty of positive noise coming from the financial sector (both now and in years past) re Ripple's tech and use of XRP. Banks and companies (local and intl) have been looking at and working with Ripple for several years now. Just google search Australian banks & Ripple...also Ripple partnerships...........When insto's & CB's invest in and use a new tech...it's worth doing some due diligence to see what's going on. YT may provide some news and info out there, but it also has a a ton of crap spruikers pumping sensationalist content for monetised clicks....Go to the sources...go to the bank web sites and search "Ripple".....or "R3 consortium"...read the white papers for each crypto and understand what it is intended to do in the real world....finally...follow the money...not the asset that a YT pumper says you should invest in...rather where are the financial institutions, Central Banks, investment funds are putting their money as seed capital, development capital or investment capital or equity ownership. As I noted in another thread on another crypto asset, when an asset has real world application now (be it in infancy stage) and in a blockchain future for banking, finance, trade, legal, insurance then that is my benchmark and gets my attention. I'm not here to tell anyone what to do other than maybe provide some suggestions on how and where to look to better inform one's self when looking at this space.
