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russian currency collapse

inside info, word is the russian ruble is about to collapse:

yea or nay?


i don't know if this would be all that cool though, as i agree that russia is important to the world economy

All paper currencies are going to slowly collapse over time. The ruble may go down faster but it won't be very dramatic like argentina, etc. The dollar/yen/euro are all losing value as central banks print like crazy to try and inflate their way out of this economic mess..so if the ruble does fall, it won't be very obvious because all of the other currencies will be dropping with it.

If you want to see what is really happening to a currency, see how it prices a universal unit of value like 1oz of gold. I think it will certainly crash against that.


*queue pkc's anti gold rant*

quote:

Originally posted by Capitalizt All paper currencies are going to slowly collapse over time. The ruble may go down faster but it won't be very dramatic like argentina, etc. The dollar/yen/euro are all losing value as central banks print like crazy to try and inflate their way out of this economic mess..so if the ruble does fall, it won't be very obvious because all of the other currencies will be dropping with it. If you want to see what is really happening to a currency, see how it prices a universal unit of value like 1oz of gold. I think it will certainly crash against that. *queue pkc's anti gold rant*

If all currencies lose value and wages keep pace (or exceed the pace) it is not significant that currencies lose value.

Russian government has saved up several hundred billion dollars in foreign currency and reserves, and have spent billions keeping their currency alive with injections into the Russian economy. All while the foreign investors have been taking billions out of Eastern Europe.

Russia will outlast most if not all of the countries outside of G20. They got the reserves and the resources. It will be hard, but I dont see Russian currency and economy collapsing altogether. Not anytime soon at least.

Yes, I think it will continue to drop versus the main currencies (pound/USD/EU), but not a collapse. Putin's team didnt just save up over a trillion dollars for nothing over the past 8 years.

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Originally posted by Capitalizt If you want to see what is really happening to a currency, see how it prices a universal unit of value like 1oz of gold. I think it will certainly crash against that. *queue pkc's anti gold rant*

that's complete nonsense. there are a myriad of factors that might alter the price of 1oz of gold, to say its a reliable or accurate representation of currency devaluation simply isnt true.

and i only "rant" because most of the economic posts you make relate to evil central banks, fiat money, or gold. and they're often hugely inaccurate.

Central banks are evil And yes, a myriad of things can effect the gold price, but that can be said about every other commodity and retail product on the planet. Gold just happens to be the most universally accepted indicator of inflation. It has always been (and will always be) the anti-currency.

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Originally posted by Magnetonium Russian government has saved up several hundred billion dollars in foreign currency and reserves, and have spent billions keeping their currency alive with injections into the Russian economy. All while the foreign investors have been taking billions out of Eastern Europe. Russia will outlast most if not all of the countries outside of G20. They got the reserves and the resources. It will be hard, but I dont see Russian currency and economy collapsing altogether. Not anytime soon at least. Yes, I think it will continue to drop versus the main currencies (pound/USD/EU), but not a collapse. Putin's team didnt just save up over a trillion dollars for nothing over the past 8 years.

yeah they are going to have to bail out gazprom what happened to the almight russians? Most russians were saying gazprom was on the way to being a trillion dollar corporation but now its in need of 86 billion dollar bailout. And that was with gas and oil record prices. obvioulsy the russians still dont have much of a clue with economics.

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Originally posted by Magnetonium [COLOR=FF7F50] Russia will outlast most if not all of the countries outside of G20.

outlast....exactly what does that mean?

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Originally posted by jerZ07002 outlast....exactly what does that mean?

The economic collapse. Unless IMF/World Bank loans come in the picture - and even those arent guaranteed to stop the currency and economic slide.

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Originally posted by Capitalizt Gold just happens to be the most universally accepted indicator of inflation.

no it isn't.

With third largest foreign currency reserves in the world (after Japan and China), the rouble is likely to be one of the last currencies in the world that should fear the threat of a collapse. After all, it was the russians who saved Iceland from bankrupcy with a 4 billion euro loan a couple of months ago. I doubt they'd be doing that if they had more serious problems at home.

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Originally posted by DrUg_Tit0 With third largest foreign currency reserves in the world (after Japan and China), the rouble is likely to be one of the last currencies in the world that should fear the threat of a collapse. After all, it was the russians who saved Iceland from bankrupcy with a 4 billion euro loan a couple of months ago. I doubt they'd be doing that if they had more serious problems at home.

diesel_tron3000 doesn't let reality get in the way of making useless "the sky is falling" threads.

Re: russian currency collapse

quote:

Originally posted by diesel_tron3000 inside info, word is the russian ruble is about to collapse: yea or nay? i don't know if this would be all that cool though, as i agree that russia is important to the world economy

Russia still has oil, wood, water, some amount of infrastructure, lots of people, massive currency reserves, and nuclear weapons. Another collapse is unlikely given economic fundamentals, any problems would be based mostly on Western speculation which is fueled by a consistently negatively biased media.

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Originally posted by Magnetonium The economic collapse. Unless IMF/World Bank loans come in the picture - and even those arent guaranteed to stop the currency and economic slide.

The IMF is essentally broke. It just blew it's last load this fall. Look to the Asian version of the IMF that the Chines, Japanes, and South Korean's are setting up to be a major player in any upcomming rescue packages. (especially because it's a convenient way for those countries to 'donate' thier US$ reserves without apearing to be selling off US$)

I don't know about 'outlasting' other countries but I'm certain that Russia isn't going to disapear. I place it tied for second in the BRIC countries, with China first and India last.

Most likely right now is that the world, in 5 years will be a multi-polar world with the EU, US, Russia, China, Brazil, and India in the dominant spots with a powerful second tier of countries like Japan, South Korea, Canada, Venuzuela, South Africa, Australia, Indonesia, and a few others.

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Originally posted by pkcRAISTLIN diesel_tron3000 doesn't let reality get in the way of making useless "the sky is falling" threads.

funny. NOT

this inside information i have comes from reliable sources. no amount of foreign exchange holdings will prevent the ruble's fall

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Originally posted by atbell Most likely right now is that the world, in 5 years will be a multi-polar world with the EU, US, Russia, China, Brazil, and India in the dominant spots with a powerful second tier of countries like Japan, South Korea, Canada, Venuzuela, South Africa, Australia, Indonesia, and a few others.

The world will be dominated by the US, China, and the EU for the next century. China has huge internal social problems which could derail its global influence (although i highly doubt that is likely). Japan, Canada, India, Russia, and Australia will be influential, but the rest are essentially irrelevant. You give way too much credit to venezuela. Where did you come up with Indonesia? Large islamic population doesn't equal powerful.

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Originally posted by jerZ07002 The world will be dominated by the US, China, and the EU for the next century. China has huge internal social problems which could derail its global influence (although i highly doubt that is likely). Japan, Canada, India, Russia, Brazil, and Australia will be influential, but the rest are essentially irrelevant.

Fixed. Unless we manage to fail just like Argentina did in the 20th century (which I think is quite unlikely), I see no reason to discard any of the BRIC countries.

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Originally posted by jerZ07002 The world will be dominated by the US, China, and the EU for the next century. China has huge internal social problems which could derail its global influence (although i highly doubt that is likely). Japan, Canada, India, Russia, and Australia will be influential, but the rest are essentially irrelevant. You give way too much credit to venezuela. Where did you come up with Indonesia? Large islamic population doesn't equal powerful.

And you give way too much credit to Russia. Russia has huge social problems which will lead to a bad future for them. Plus they have too much of a realibilty with oil and gas. People who say that Russia won't fail because they have the resources the world need. Need to understand that there are alternatives and better trading partners and for the moment. Any trade with Russia is due to conveinence nothing else.

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Originally posted by guerra-monstru And you give way too much credit to Russia. Russia has huge social problems which will lead to a bad future for them. Plus they have too much of a realibilty with oil and gas. People who say that Russia won't fail because they have the resources the world need. Need to understand that there are alternatives and better trading partners and for the moment. Any trade with Russia is due to conveinence nothing else.

Name me at least one huge social problem in Russia.

Also could you please name me a couple of alternatives to oil and gas.

And better trading partners as well, please.

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Originally posted by otec Name me at least one huge social problem in Russia.

i'll name three. alcoholism, high mortality rate & low birth rate.

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Originally posted by Q5echo i'll name three. alcoholism, high mortality rate & low birth rate.

you also forgot the quality of Men there, thats why all of the Russian Women want to leave....

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Originally posted by Q5echo i'll name three. alcoholism, high mortality rate & low birth rate.

alcoholism is a result of the low quality life level, mainly because of the low wages. no one denies that russian economy has been in deep shit for ages.

high mortality rate is basically same thing as alcoholism.

low birth rate is from same opera. but it's started to change now since they have announced a program of helping young mothers financially.


I don't see any social problems here.

The only thing that really annoys me in Russia is that it's full of Russians. People has been living in a deep isolation for ages. It's not good. Many people behave like animals to each other, that's why it looks like Russia have a lot of social problems.

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Originally posted by LazFX you also forgot the quality of Men there, thats why all of the Russian Women want to leave....

Russian Women want to leave, American Women want to get rid of their fat asses and fix their ugly faces, shit happens ever where man, don't see any problems with Russia in particular here.

quote:

Originally posted by otec alcoholism is a result of the low quality life level, mainly because of the low wages. no one denies that russian economy has been in deep shit for ages. [QUOTE]high mortality rate is basically same thing as alcoholism.

no, high mortality is a symptom of alcoholism. there are many other reasons for Russian mortality.

quote:

low birth rate is from same opera. but it's started to change now since they have announced a program of helping young mothers financially.

lets hope so. furthermore, the last data i saw was Russian abortions still outnumbered Russian births. thats a very serious indicator of the decline of Russian demographics regardless of where the birthrate is going at the moment.

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I don't see any social problems here.

of course you don't.

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The only thing that really annoys me in Russia is that it's full of Russians. People has been living in a deep isolation for ages. It's not good. Many people behave like animals to each other, that's why it looks like Russia have a lot of social problems.

how is that not a problem? have you ever heard the phrase - "if it's on the ground and it looks like shit and smells like shit...then it's probably shit."? i think that phrase applies to Russia very appropriately here.

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