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russian currency collapse
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| 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 |
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| 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* |
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| jerZ07002 |
| 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. |
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| 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. |
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| pkcRAISTLIN |
| quote: | 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. |
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| Capitalizt |
| 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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| guerra-monstru |
| quote: | 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:rolleyes: 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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| jerZ07002 |
| quote: | Originally posted by Magnetonium
[COLOR=FF7F50]
Russia will outlast most if not all of the countries outside of G20.
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outlast....exactly what does that mean? |
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| Magnetonium |
| quote: | 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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| pkcRAISTLIN |
| quote: | Originally posted by Capitalizt
Gold just happens to be the most universally accepted indicator of inflation. |
no it isn't. |
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| 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. |
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| pkcRAISTLIN |
| quote: | 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. |
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