Very Interesting: What's Up With The Ruble?
I’m not qualified to judge or critique this tweet, but I like reading this kinda stuff. See what you think—to me it makes sense:
Russians With Attitude @RWApodcast
What is happening with the ruble?
The ruble has experienced the most significant rate of devaluation since August 2023. Compared to the dollar, it has reached lows not seen since mid-March 2022. It's currently trading at 108.1 rubles per USD.
One major factor contributing to this is the strengthening of the US dollar in global markets. Since early October, the dollar has increased by almost 7%, which is the largest movement in two years.
Another significant factor is the impact of US sanctions on Gazprombank and other mid-tier Russian banks, that were used to evade sanctions and receive payments from foreign countries, which has accelerated the decline. Sanctions on Gazprombank have disrupted the export flows of the oil and gas industry.
Moreover, the devaluation of the ruble has been superimposed on the decrease in foreign exchange earnings. Prior to the sanctions on Gazprombank, there was a shortage of foreign currency on the domestic market estimated at approximately 2 billion rubles per month. Additional demand for currency was generated by non-residents as a result of closing positions in the Russian capital market and investment projects due to the risks of secondary sanctions.
Zooming out, the recent US financial sanctions against Russia are not just about Russia. They are primarily aimed at the European Union, which the Biden (and Trump) administrations want to finish off by deindustrializing. The decrease in Gazprom sales (if Europeans can't or won't pay a sanctioned bank) is just icing on the cake, along with the increase in American LNG sales. The real prize is the deindustrialization of Europe and the relocation of European production, technology, profits, and expertise to the US.
Welcome to Trade War 2.0: Electric Boogaloo. It's US vs EU, Russia and China and it's going to be a real doozy.
12:38 PM · Nov 27, 2024
So, in other words, the strengthening of the dollar is people betting on the US grabbing the lion’s share of “European production, technology, profits, and expertise.” This is why I hadda laff at Keef Starmer saying that the UK Gov was in partnership with Blackrock to put money in the pocket of the average Brit. As if. Count on it, the Euro elite are looking to enrich themselves by selling out their countries to the Anglo-Zionists. The smart countries who want to preserve their traditional status will swallow their hubris and make up with Russia.
The ruble is backed by gold. It is not a fiat currency. The problem with the United States, trying to supply Europe with LNG is that we don’t have the capacity to do so at this point for the needs of Europe and especially Germany. LNG is expensive, and I have read that we will need at least five years to ramp up the facilities and the capabilities to export in bulk that amount of gas to Europe to supply their needs.
Biden and the CIA on purpose destroyed the Nord stream pipelines and cut Europe off from inexpensive natural gas. The plan was to make Ukraine a vassal state of the west to be able to get to the tremendous amount of natural resources and rare earth minerals that are there. They wanted to build a pipeline directly from Ukraine into Europe, so that western oil interest would control all that, and essentially Europe would be buying oil and natural gas from them instead of the Russians.
Well, so much for that grand plan , the Russians are going to control Ukraine. They are going to control the Russian speaking provinces where all of those minerals and natural resources are and there is it going to be a pipeline to Europe. The pipeline will turn to supply the BRICS countries in Europe it on its own. The United States has to assume total responsibility for the destruction of western Europe, economies, and the fact that they do not have access to cheap oil and gas to run there countries.
Exactly what is it that the US produces that is so valuable that other nations want it? We spend 20% of GDP on medical care that has worse outcomes than many countries that spend half that. 20% of our economy is financialization and rent seeking grift that produces no real product. 7% of our GDP is debt.
What will all this look like 10 years from now once most countries finally figure out that the rules based international order means that you tie your economy to the US and then you’d better do what we want or else?