Ruble - Worthless

Discussion in 'Currencies' started by Golden ChipMunk, Mar 1, 2022.

Tags:
  1. Golden ChipMunk

    Golden ChipMunk Well-Known Member

    Joined:
    Dec 12, 2012
    Messages:
    7,474
    Likes Received:
    784
    Trophy Points:
    113
    Location:
    Perth, Jupiter, Venus, Mars
  2. Golden ChipMunk

    Golden ChipMunk Well-Known Member

    Joined:
    Dec 12, 2012
    Messages:
    7,474
    Likes Received:
    784
    Trophy Points:
    113
    Location:
    Perth, Jupiter, Venus, Mars
  3. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

    Joined:
    Feb 6, 2012
    Messages:
    4,632
    Likes Received:
    2,699
    Trophy Points:
    113
    Location:
    P!MP land-Seedeneey
    good. All offshore assets got seized.. Putin is to blame in his own country…job well done.
     
  4. Number 47

    Number 47 Well-Known Member

    Joined:
    May 31, 2018
    Messages:
    317
    Likes Received:
    431
    Trophy Points:
    63
    Is it time to buy up Ruble ?
     
    EchoAndOunce, 66rounds and Oddjob like this.
  5. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    4,364
    Likes Received:
    1,123
    Trophy Points:
    113
    Location:
    Treasure Island
    Better buy rubble and other tiny rocks, they have more intrinsic value. You can use them for paving parts of your house's yard/garden.
     
    BelfastChild likes this.
  6. STKR

    STKR Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2019
    Messages:
    1,507
    Likes Received:
    2,857
    Trophy Points:
    113
    I don't think it's that black and white. When the MSM pushes the same narrative and rhetoric, you can almost guarantee there's an agenda behind it.
     
  7. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

    Joined:
    Mar 25, 2020
    Messages:
    781
    Likes Received:
    1,776
    Trophy Points:
    93
    Location:
    Melbourne
    Real $ likes this.
  8. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    4,141
    Likes Received:
    2,090
    Trophy Points:
    113
    Location:
    Singapore
    TreasureHunter likes this.
  9. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    4,364
    Likes Received:
    1,123
    Trophy Points:
    113
    Location:
    Treasure Island
    I stopped listening to self-referential "bedroom experts" who speak phantasmagoria in front of their web cam. No credibility. Worse than ZeroHedge.

    The countless blogs and self-referential "experts" quote each other and invite each other on interviews.

    Some of the information seems to come out of nowhere (invented?) and it's packaged as "the next big thing" (fake news?).

    But it's interesting indeed that the rouble has almost fully recovered (according to some other sources / mainstream media, by the way) due to the fact that they started selling gas and oil for roubles.
     
    dollars likes this.
  10. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    23,827
    Likes Received:
    6,150
    Trophy Points:
    113
    Location:
    昆士蘭
    I think it's more to do with currency manipulation by the Russian central bank.
     
    precious roar likes this.
  11. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,898
    Likes Received:
    2,226
    Trophy Points:
    113
    You think they have massive foreign reserves for them to bid up the Ruble to that amount?

    It looks more demand driven. People over reacted and the smart people purchased Ruble for dirt cheap. (Or another way to look at it, smart people were able to buy Russian resources dirt cheap) The power of FUD.

    Forget Korean FUD, the new one is Russian FUD. :p
     
    Last edited: Apr 3, 2022
    dollars and 66rounds like this.
  12. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    23,827
    Likes Received:
    6,150
    Trophy Points:
    113
    Location:
    昆士蘭
    I wouldn't have said it if I didn't think so. The 20% interest rate helps too, as well as the capital restrictions they've applied.
     
  13. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    23,827
    Likes Received:
    6,150
    Trophy Points:
    113
    Location:
    昆士蘭
    Published in the WSJ behind a paywall:

    https://businesshala.com/how-russias-central-bank-engineered-the-rubles-rebound/
     
  14. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,898
    Likes Received:
    2,226
    Trophy Points:
    113
    ^ A central bank interfering with Currency, what’s new.

    FED, BOC, BOJ, ECB, get in line…
     
    lucky luke, dollars and 66rounds like this.
  15. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    23,827
    Likes Received:
    6,150
    Trophy Points:
    113
    Location:
    昆士蘭
    That's what I said:

     
  16. GOLD1

    GOLD1 Well-Known Member

    Joined:
    Jul 17, 2020
    Messages:
    232
    Likes Received:
    919
    Trophy Points:
    93
  17. Tactile

    Tactile Member

    Joined:
    Oct 6, 2016
    Messages:
    84
    Likes Received:
    78
    Trophy Points:
    18
    Location:
    Vic, Australia
    Interesting to see how this plays out...
     
  18. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    23,827
    Likes Received:
    6,150
    Trophy Points:
    113
    Location:
    昆士蘭
  19. jultorsk

    jultorsk Well-Known Member Silver Stacker

    Joined:
    Oct 17, 2016
    Messages:
    1,936
    Likes Received:
    3,237
    Trophy Points:
    113
    Location:
    Australia
    Technically, so is the WSJ article partially "fake news". I'm not pro-Putin. He's just outsmarted the woke greentards in Europe and now reaps the benefits of their gullibility.

    Rouble is being supported by the flow of currencies - they still get in their coffers a billion euros a day from energy dependant EU countries (plus dollars, renminbi and rupiah). Russia does not have much external foreign currency debt and thanks to the gas&oil exports their current account is on surplus. Next, they can extend the payments in roubles policy to other goods, such as grain, urea etc.

    SWIFT was substituted in internal transactions by their MIR system already back in 2014 when MasterCard and Visa previously exited Russia due to the illegal Crimea annexation.

    As noted, interesting to see how this plays out. Their announcement says they'll continue the purchases with the fixed price until end of June. After that - will they reprice?

    (Standard disclaimer: Not financial advice. Avoid Russia at all cost for risk of getting sanctioned. Video below linked for entertainment purposes only, I'm not responsible for the content.)

     
  20. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    4,141
    Likes Received:
    2,090
    Trophy Points:
    113
    Location:
    Singapore

Share This Page