re: Apparently, the Russian Ruble is set to collapse. Citizens are in lines trying to drain

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Russians know that they aren't going to overthrow Putin or oust him.

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They don't want to

Sounds like more US propaganda.

no different than toilet paper shortages

Most likely CIA propaganda to try to put pressure on the Russian banking system. Not even saying it’s not true in some capacity. Just that our friends in the agency are likely actively trying to exacerbate any issue and make a ripple into a wave.

As we’ve been doing for years, we are doing everything possible to try to back Russia into a corner and we are complete morons for doing so. The short- and long-term implications of isolating Russia or even driving them closer to China are potentially catastrophic.

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I thought the sanctions by renowned foreign policy expert Joseph Pedo Biden at the start of the war crushed the Russian economy already.

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The sanctions were never designed to hurt Russia. They are designed to keep the West from purchasing cheap Russian energy and commodities.

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This is one of those things that no matter how much data is presented, a certain segment will reject. Like violent crime rates falling.

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You might want to revisit your contributions on that thread. I don’t recall the data itself being rejected but whether the Biden admin would take credit for it.

You of course dismissed the notion and assured that it was ridiculous to think any admin would stoop to such things (because they’d have to own the poor data as well).

Well sure enough, in the story that was linked to the OP of that thread, there’s the Biden admin taking credit for the crime rates falling.

You goofball, lol.

But all the Putin lovers on here told me that the Russian economy was booming, the Ruble would become stronger than the dollar, Russians were living very luxurious and happy lives right now, with the ability to purchase cheap and readily available products. The BRICS alliance was going to overtake and become the new alliance the world follows. What happened Putin minions?? Tell us how the mean West hurt little ole Russia again…

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Only because of the Petrodollar but that's about to go away. Saudi Arabia dropped it and pretty soon everyone else will. Then you'll see real inflation

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I don’t agree. Whose currency are they going to use? If they agree to deal in the Yen or the Ruble, China and Russia will manipulate these deals so bad that SA will not continue to use it.

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They use any currency that is agreed upon by the trading partners but the value of the trade is based on gold regardless of currency. LINK

It is up to the recipients of said currency to exit the currency to protect themselves from currency manipulation ASAP. China will still manipulate. The issue for China is however as they print what cost China 500 yuan yesterday to buy a barrel of Russian oil today base on the price of gold and the price of gold increase in yuan due to PBoC manipulation they will pay greater than 500 yuan for a barrel of Russian oil tomorrow.

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What happened??

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Since you asked ....

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A shift away from the US dollar is happening in real time, and investors must be ready
by Malli Karjuna
Mon, Jun 10, 2024

The US dollar’s dominance is in decline as Russia and Saudi Arabia eye the Chinese yuan for oil trades, and investors may need to begin to revise their long-term investment strategies, warns the CEO and founder of one of the world’s largest independent financial advisory and asset management companies, deVere Group.
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“One of the most significant but under-reported outcomes of April’s three-day summit between Russia’s Vladimir Putin and China’s Xi Jinping was that Putin said Russia is now in favour of using the Chinese yuan for oil settlements," said Green. This suggests that the world’s second-largest economy and the world’s largest energy exporter are actively intending to reduce the dominance of the US dollar as the bedrock of the international financial system.
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“Oil is one of the most important and widely traded commodities in the world, and it has traditionally been priced and traded in US dollars," said Green. "This has given the US dollar a dominant role in global financial markets as countries that want to purchase oil must first acquire US dollars in order to do so."

If oil trading were to shift away from the US dollar it would dramatically reduce the demand for US dollars, which would lead to a decrease in the value of the US currency.

"This could have a number of ripple effects throughout the global economy, including hugely increased inflation in the US and potentially destabilising effects on financial markets," said Green.

Additionally, a shift away from the US dollar in oil trading could lead to greater economic and geopolitical competition between countries. If the yuan were to become more widely used in oil trading, this could significantly increase the economic power and influence of China, challenging the dominance of the US in major global affairs.

LINK

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