 |
By *oo hot OP Couple 2 weeks ago
North West |
"It’s been collapsing for years now
The working man there has suffered for decades while the oligarchs line their pockets"
It has been on a downward trajectory for the last couple of years or so, but the current fall rate of 1% every day is unsustainable.
Last time something like this happened they took two zeros off the note value and overnight everything went up in price by 100%.
This is why Russians hide dollars. They don’t trust their own currency. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) 2 weeks ago
|
"It’s been collapsing for years now
The working man there has suffered for decades while the oligarchs line their pockets
It has been on a downward trajectory for the last couple of years or so, but the current fall rate of 1% every day is unsustainable.
Last time something like this happened they took two zeros off the note value and overnight everything went up in price by 100%.
This is why Russians hide dollars. They don’t trust their own currency."
The Chinese elite do that as well.As do the Zimbabweans and I’ve heard rumours the Venezuelans have their own stash
I don’t see how some form of hyperinflation doesn’t occur in Russia if it hasn’t already.So many young men have been wounded as well and their young women devastated by mass femicide
Some towns may cease to exist entirely |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oo hot OP Couple 2 weeks ago
North West |
I wonder how they got it back under control in early 2022 when it shot up to 135 roubles to the dollar in the days after the invasion and within a few months came down to around 55 roubles to the dollar by the summer of 2022. It has been steadily devaluing since then but the last days has been a real spike. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *otMe66Man 2 weeks ago
Terra Firma |
"I wonder how they got it back under control in early 2022 when it shot up to 135 roubles to the dollar in the days after the invasion and within a few months came down to around 55 roubles to the dollar by the summer of 2022. It has been steadily devaluing since then but the last days has been a real spike."
They managed sanctions and the impact of them well.
Increased interest rates, stopped currency leaving the country and the big hitter continued to sell gas and oil that needed to paid in Roubles.
I think the cost of the war is now biting hard. |
Reply privately, Reply in forum +quote
or View forums list | |
"I wonder how they got it back under control in early 2022 when it shot up to 135 roubles to the dollar in the days after the invasion and within a few months came down to around 55 roubles to the dollar by the summer of 2022. It has been steadily devaluing since then but the last days has been a real spike.
They managed sanctions and the impact of them well.
Increased interest rates, stopped currency leaving the country and the big hitter continued to sell gas and oil that needed to paid in Roubles.
I think the cost of the war is now biting hard."
I'm sure multi billionaire Vladimir Putin is shitting himself..... NOT! |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *otMe66Man 2 weeks ago
Terra Firma |
"I wonder how they got it back under control in early 2022 when it shot up to 135 roubles to the dollar in the days after the invasion and within a few months came down to around 55 roubles to the dollar by the summer of 2022. It has been steadily devaluing since then but the last days has been a real spike.
They managed sanctions and the impact of them well.
Increased interest rates, stopped currency leaving the country and the big hitter continued to sell gas and oil that needed to paid in Roubles.
I think the cost of the war is now biting hard.
I'm sure multi billionaire Vladimir Putin is shitting himself..... NOT! "
Why do you think that? |
Reply privately, Reply in forum +quote
or View forums list | |
"I wonder how they got it back under control in early 2022 when it shot up to 135 roubles to the dollar in the days after the invasion and within a few months came down to around 55 roubles to the dollar by the summer of 2022. It has been steadily devaluing since then but the last days has been a real spike.
They managed sanctions and the impact of them well.
Increased interest rates, stopped currency leaving the country and the big hitter continued to sell gas and oil that needed to paid in Roubles.
I think the cost of the war is now biting hard.
I'm sure multi billionaire Vladimir Putin is shitting himself..... NOT! "
Him and his close oligarchs will be fine yes..
|
Reply privately, Reply in forum +quote
or View forums list | |
Looking pretty grim for the rouble at the moment.
I remember just after the 2008 crash the Spanish put a lot of faith into attracting Russian property buyers.
The British had pretty much stopped buying and the Russians were going to be the saviours of the Spanish property market.
With and exchange rate of between 20 and 30 roubles to the dollar a lot of middle class Russians could afford to and did buy here.
But that bubble burst in 2014 after the invasion of Crimea when they suddenly needed 60/70 roubles for 1 dollar and now it's way north of 100.
In a nutshell Russia was doing quite nicely until Putin started his shit show in Ukraine.
Where the Russian economy will end up is anyone's guess but I think it will take years, if not decades, to get back to where it was pre 2014. Not a good time to be your average Ivan. |
Reply privately, Reply in forum +quote
or View forums list | |
» Add a new message to this topic
