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Russian Sanction Effects | 2022

www.yahoo.com

Four Russian governors resign as sanctions bite

The heads of the Tomsk, Saratov, Kirov and Mari El regions announced their immediate departures from office, while the head of Ryazan region said he would not run for another term. Elections are scheduled to take place in all five regions in September. Though Russian regional governors are...
www.yahoo.com www.yahoo.com
 
DarkNoon said:
Really which one? Cause the rubels futures have fallen again after they desperately failed to fasly inflate the value of the currency with gold which I said wouldn't work. Which it isn't, given the rubles current down trend after their short and brief incline. 😁

China certainly isn't helping Russia either economically as they have their own interests and partners they trade/sell to already. Also can't magically flip a switch and integrate two economies in a instant too. That takes much time to build the Infurustruce needed to do so especially the great distance on land those trade routs between China and Russia would be.
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uhhhh, excuse me? I check the ruble against the dollar almost every day just for kicks and giggles. When the sanctions first hit, one dollar was 130 rubles, from that point onward, it's now 1 dollar for 56 rubles, and has steadily climbed every day since the big fall.
 
TCharley300 said:
uhhhh, excuse me? I check the ruble against the dollar almost every day just for kicks and giggles. When the sanctions first hit, one dollar was 130 rubles, from that point onward, it's now 1 dollar for 56 rubles, and has steadily climbed every day since
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Futures look bleak. Also I wouldn't be calling this line a constant up and up.

I'd call that really shaky and everyone with a brain in this field is expecting this to drop like a lead balloon and soon.
 

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DarkNoon said:
Futures look bleak. Also I wouldn't be calling this line a constant up and up.
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I'd call that really shaky.
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OK, I don't know about futures and don't study it. I go by actual conversion of currency--what goes into the actual hand at exchange on a daily basis. And, like I said, it's continued to climb every day. Now, If I had invested when the ruble was down, currently, I would have doubled my money.
 
TCharley300 said:
I go by actual conversion of currency-
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Which Russia is falsely inflating the value of their currency with gold and will crash soon enough when the market adjusts to the true value.

There is a reason why nations have stopped backing their currency with gold. Because giving a false sense of value to currency has disastrous consequences which leads to dramatic and sudden value adjustments.

I know many are found of the idea of gold backed currency. But it just doesn't work practically. Currency is based off how well your country is doing in regards to way of life, Infurustruce, and economy which is great because when you invest in a nations currency you know what your buying into and what to expect. It is the exact opposite for gold backed currency, your buying blind and don't know what to expect. See the problem?
 
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DarkNoon said:
There is a reason why nations have stopped backing their currency with gold. Because giving a false sense of value to currency has disastrous consequences which leads to dramatic and sudden value adjustments.
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You need to explain this better as it is it’s just a statement. Not a criticism but suggestion
 
DarkNoon said:
Which Russia is falsely inflating the value of their currency with gold and will crash soon enough when the market adjusts to the true value.

There is a reason why nations have stopped backing their currency with gold. Because giving a false sense of value to currency has disastrous consequences which leads to dramatic and sudden value adjustments.

I know many are found of the idea of gold backed currency. But it just doesn't work practically. Currency is based off how well your country is doing in regards to way of life, Infurustruce, and economy which is great because when you invest in a nations currency you know what your buying into and what to expect. It is the exact opposite for gold backed currency, your buying blind and don't know what to expect. See the problem?
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This is true but it is a fragile structure and you know it. My point is it’s not fool proof.
Gold and silver are good wealth preservers but as a currency currently not so much.
IF the economic systems collapse and “full faith and trust” in the worlds currencies collapses then yes the significance of metals as a currency will take center stage again.
 
Obreid said:
This is true but it is a fragile structure and you know it. My point is it’s not fool proof.
Gold and silver are good wealth preservers but as a currency currently not so much.
IF the economic systems collapse and “full faith and trust” in the worlds currencies collapses then yes the significance of metals as a currency will take center stage again.
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Fiat currency and fractional reserve banking make a gold standard unviable.

Modern economy is built on lending, a gold backed currency is a nightmare.
 
DarkNoon said:
Fiat currency and fractional reserve banking make a gold standard unviable.

Modern economy is built on lending, a gold backed currency is a nightmare.
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Your correct but fractional reserve monetary system is rooted in confidence in the system. There are a lot of things going on right now that are severely testing this confidence.
I’m not saying it’s doomed.
I have no idea if or when it will collapse.
My argument for gold is only that if the current system collapses metals will have a roll to play then.
 
That's why I don't invest, because in the current system, I personally have no confidence. Record high inflation, shortages, hunger (which will happen a little later) Really in economics, stocks or not, when the chips are down, there are only four things a person will still buy or barter for-----anything you can eat,,,drink,,, smoke,,, or screw.
 
Obreid said:
Your correct but fractional reserve monetary system is rooted in confidence in the system. There are a lot of things going on right now that are severely testing this confidence.
I’m not saying it’s doomed.
I have no idea if or when it will collapse.
My argument for gold is only that if the current system collapses metals will have a roll to play then.
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I disagree with TCharley300 on the current situation, but he has the right of it on the outcome of an economic collapse; anyone who thinks precious metals would retain value after an economic collapse is delusional.
I wrote an entire long op-ed article on this once that some people really didn't like.
The summary: any situation that could legitimately threaten us with economic collapse is not one where "society" survives.
The Western economy isn't going to fall apart tomorrow. The only things that could fold it are inherently things that disrupt the very existence of Western society.
We are not talking "baby formula shortage" or "record high inflation that actually isn't that high." We're talking bioweapons being released and nukes dropped.
Those situations reduce daily life to a fight for survival. We are talking medieval-or-worse. People are not going to trade away their very scarce survival needs to you for a shiny piece of metal - especially when the lawlessness that would accompany this scenario would let them just shank or shoot you for it if they really want it.
Even in those times when precious metals were a distinct part of day-to-day trade, there were still issues of confidence in the currency. The entire reason we started stamping coins was so that you had an idea where the coin came from and how much you could trust its content. And even then, this only occurred in relatively developed economies - the village of farmers out in the sticks wasn't doing day-to-day business in gold ingots.

The gold standard isn't coming back. It isn't even a good one to begin with; it has a lot of problems that people who oppose the current financial system conveniently overlook.
At best, if everything went to hell, we'd probably end up adopting ammunition as currency.
 
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