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re: Apparently, the Russian Ruble is set to collapse. Citizens are in lines trying to drain
Posted on 6/13/24 at 11:13 am to GumboPot
Posted on 6/13/24 at 11:13 am to GumboPot
I think Lima Whiskey started a thread on this -- I mentioned a few people, Andrei here, as well as Michael Hudson who think we are moving toward a world where all of the financialization and tech hocus pocus doesn't mean much. Heck, even the Economist said the liberal world order is breaking down. It does seem changes are afoot.
quote:
The finance and tech-based economy is not a real economy; expeditionary warfare and doctrine is not real war. The global balance of power has shifted to Eurasia. Western Europe has become a collection of weak and fast deindustrializing economies which will increasingly become irrelevant against the background of the explosive economic, technologic, scientific and military development in Eurasia
The world has noticed what has been exposed, and because of that, life as we knew it is no more. The rule of the West of the last half-millennium is over.
2
Posted on 6/13/24 at 11:27 am to SlowFlowPro
quote:
quote:Now that the petro dollar is ending.
It's not
Explain this please
Posted on 6/13/24 at 11:30 am to Jack Daniel
quote:
Explain this please
A very small % of oil trading not in USD isn't going to affect the larger geopolitical status quo, and this agreement is effectively doomed.
China will be unable to manipulate the yuan and crush its exports (in a landscape of countries moving away from China, doubling down on their economic demise) OR Saudi Arabia will be hoarding a currency that China intentionally devalues and has no use anywhere else. So even if the yuan is used to buy Chinese goods, SA will be taking a major haircut. China devaluing the yuan to make goods its exports cheap works...in USD. For SA, they send 100 yuan in oil but the next month can only buy 90 yuan in goods, it wouldn't work out so well.
Posted on 6/13/24 at 11:37 am to Bunk Moreland
quote:
I think Lima Whiskey started a thread on this -- I mentioned a few people, Andrei here, as well as Michael Hudson who think we are moving toward a world where all of the financialization and tech hocus pocus doesn't mean much. Heck, even the Economist said the liberal world order is breaking down. It does seem changes are afoot.
quote:
moving toward a world where all of the financialization and tech hocus pocus doesn't mean much
100%
I think the reality check is going to be brutal for us.
My take on this, seeing the headlines is, it's just a stock market, they'll be absolutely fine. The actual economy is your ability to make things, and sell goods. A market should in theory help you efficiently allocate investments to companies, but often the market is just a bad pachinko parlour, and you can see that in how publicly traded companies perform against privately held ones. Publicly held companies perform worse because they make bad choices due to pressures from the stock market.
Posted on 6/13/24 at 11:51 am to sta4ever
quote:
You seem to have not thoroughly thought out anything.
Runoff to Alice's OT-Rabbithole Russia thread where up is down, and fact is fantasy. You'll be happier there.Posted on 6/13/24 at 12:06 pm to SlowFlowPro
quote:
The 3 US States?
California: 100,042
Texas: 62,483
New York: 90,730
Like I said, shitty.
Think of it this way, if those three states went to war against Russia, who who would win? Assuming no nuclear weapons. The answer is self evidently Russia, and it would be a cakewalk for the Russians. So clearly GPD figure isn't capturing something there.
Also, let's pretend those three states were a country to themselves, and you visited both blocks, and then someone asked which of the two was richer, based solely on your visual anecdotal observations. The answer is actually Russia.
The problem with the GDP comparisons, is that our buying power is very low, our costs are sky high, and the Russians undercut the value of the Ruble to make their resource exports more competitive. So they make large sums in dollar denominated exports, like oil, or titanium, but unlike other major resource exporters, the have sophisticated internal economy, and produce almost everything they need internally, and so their expenses, including debt, are all in cheap rubles.
One of the takeaways from the failure of the sanctions regime, is that the Russian economy is whole hell of lot bigger than we thought it was.
This post was edited on 6/13/24 at 12:15 pm
Posted on 6/13/24 at 1:05 pm to WhiteMandingo
quote:
Now this is how you kick off a war!!!!!! This will blow up Russians know that they aren't going to overthrow Putin or oust him. So what does this do other then get them to back him because of the sanctions. Russia is much like the US and / Iraq about this war. It's happening but it's a side note now you put everyone in bread lines and give them a common enemy. NOT A GOOD MOVE
I’m guessing the sanctions were a result of Saudi Arabia not renewing the petrodollar contract and rumors they may join BRICS. Russia is part of BRICS and the sanctions were intended to have this result. It’s a 2 birds one stone move. Hurt Russia and show SA we are still top dog and can quickly bring a BRICS nations currency down with the hope that Saudi reconsiders their move away from the petrodollar
Posted on 6/13/24 at 1:06 pm to SmogkDeizKnutz
Check out the RUBUSD chart. The Ruble has been holding up incredibly well sitting right at the very top of a 7 month resistance level.
If these new sanctions don't work to tank the Ruble, will you guys finally admit you're being deceived? Or will you just make excuses and move on to believing the next lie?
Here's the daily chart. You can see today had a lot of volatility but the ruble is holding incredibly strong despite the new sanctions. It closed the day at a 6 month HIGH.
If these new sanctions don't work to tank the Ruble, will you guys finally admit you're being deceived? Or will you just make excuses and move on to believing the next lie?
Here's the daily chart. You can see today had a lot of volatility but the ruble is holding incredibly strong despite the new sanctions. It closed the day at a 6 month HIGH.
This post was edited on 6/13/24 at 4:23 pm
Posted on 6/13/24 at 1:14 pm to WhiteMandingo
quote:
Russia is much like the US and / Iraq about this war.
Not true. Americans willingly believed the lies about WMDs and how Saddam could even hit the USA with chemical weapons because they were in war mode after the attack on the twin towers.
Russians know for a fact that the US-led NATO wants to bait Russia into a direct conflict so the west and split up Russia into different regions that the west can exploit. Russians know this and rightfully want whoever they elect to stop it from happening.
Posted on 6/13/24 at 1:20 pm to SmogkDeizKnutz
Keep poking that bear, Joe. What could possibly go wrong?
Posted on 6/13/24 at 1:56 pm to BigPerm30
quote:
That’s why the dollar will remain relatively strong. We don’t manipulate our currency as much as other countries. Don’t get me wrong, we still manipulate it just not as much as these other countries.
You actually think that printing an extra 3 to 4 Trillion dollars a year isnt currency manipulation?
This post was edited on 6/13/24 at 2:00 pm
Posted on 6/13/24 at 2:03 pm to sta4ever
quote:
oo bad I didn’t fall for that. Nice deflection tho. You got all your money out the Russian banks this morning?
Once again, you've been duped by your overlords. What a lemming
Posted on 6/13/24 at 2:05 pm to SlowFlowPro
The Russian economy is very shitty.
You absolutely don't know fricking shite about the Russian economy other than what some media dolt spews out.
You absolutely don't know fricking shite about the Russian economy other than what some media dolt spews out.
Posted on 6/13/24 at 2:12 pm to Loserman
quote:
You actually think that printing an extra 3 to 4 Trillion dollars a year isnt currency manipulation?
quote:
Don’t get me wrong, we still manipulate it just not as much as these other countries.
you are as bad as mainstream media. Look at my whole quotePosted on 6/13/24 at 2:27 pm to TS1926
The Russians could destroy our food supply by simply not trading fertilizer with US producers
Posted on 6/13/24 at 2:52 pm to SlowFlowPro
quote:
Like violent crime rates falling
I hope you were around defending Trump in 2016-2020 when this was actually the case.
Posted on 6/13/24 at 6:27 pm to SlowFlowPro
quote:
Like violent crime rates falling.
I think I’ll take the analysis of this from a former NYPD police inspector instead of a loudmouth fake lawyer who spends his entire day posting on a message board
This post was edited on 6/13/24 at 6:32 pm
Posted on 6/15/24 at 8:24 pm to Lima Whiskey
quote:
Alex And Alexander...
... give a good talk about Russia's real economy.
The only point of contention is the size of... American economy most of which is reported from the service sector, real estate and other financial indices. It is definitely not $23 trillion and it is dwarfed by the economy of China. The structure matters here, and while still significant, US real sector, real industries, shrunk in the last 25 years dramatically, if not catastrophically. The hint is, of course, Russia producing MORE steel and iron than the US, and producing about 70% of energy of the US. Energy consumption in MTOE (Million Tons Oil Equivalent) for 2022 puts ratio at this figure:
Which roughly translated into about 38% of US consumption. Russian economy continues to surge like crazy and by the end of 2025 should hover at 40-42% of the US one. Which gives us a very rough size of Russian economy being about 40% of the US one if one projects those figures directly at GDP number, which, in its turn, is an extremely rough approximation.
LINK
Posted on 6/15/24 at 8:38 pm to PaperTiger
quote:
I hope you were around defending Trump in 2016-2020 when this was actually the case.
I didn't defend any President, since they had nothing to do with it.
But, as I have already said, the primary reason crime spiked was Covid, and it started in 2020 (Trump has nothing to do with that increase).
Violent crime has been plummeting since the mid-90s, after about 2 decades of hell on earth. The mid-70s to the mid-90s were a terrible time to live in America
Posted on 6/15/24 at 8:39 pm to BigPerm30
quote:
We don’t manipulate our currency as much as other countries.
Maybe not in the short-term but starting in 1980 with Ronnie all the way to Sleepy Joe we just increase the debt and keep the printing presses running. That seems sorta like a Ponzi scheme and if it is, it has to pop at some time.
quote:
Apparently, the Russian Ruble is set to collapse.
USA had the PetroDollar monopoly from around WWI when the US and UK recognized the Bedouins to get the oil concession. That century old monopoly is breaking up and the Ruble is used to trade part of PetroCurrency now. Ruble could be on the verge of collapse but would OPEC be holding it if true?
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