World Blog by humble servant. Ukraine Chronicles 368.Resurgent ruble turns back time Russian currency has doubled in value since last month's crash. Only a tool and a complete fool and by opening their hole in their face prove what the knowledgeable already know and prove by opening his mouth and quote unnamed quote (economist he know) who didn't even see the the move to trap the entrapped. WHAT phonies.And a lot of names without numbers.The latest package of EU sanctions against Russia introduced on Friday has failed to stop the ruble rally..
Russian currency has doubled in value since last month's crash
Resurgent ruble turns back time
The Russian currency strengthened to just under 72 rubles to the US dollar and to 77 against the euro during trading on the Moscow Exchange on Friday.
The ruble has now reached its strongest level versus the dollar since last November and against the euro going back to June 2020.
The ruble dropped to historic lows after Moscow launched its military operation in Ukraine in February, after which the EU and US along with allies imposed unprecedented sanctions targeting the country's financial system. On March 7, the Russian currency fell to as low as 150 rubles to the dollar and 164 to the euro.
Thanks to a series of steps undertaken by the Russian government, including imposing capital controls and requiring payment for natural gas in the domestic currency, the ruble has since more than doubled in value.Fiat currency has reigned in the last forty years, but every fiat currency that has existed in history has eventually failed. A study of 775 fiat currencies indicates the average life expectancy of fiat currencies is 27 years, with some taking a month to crash and others surviving for centurie.Since the U.S. dollar is a fiat currency, meaning that it is not backed by any tangible commodity (gold or silver), it can be created out of thin air. When more money is created, the law of supply and demand kicks in, making existing money less valuable. johnnie ellington @e7johnny · 29m And the the light has been shown and for it to be manipulated they sure are using it at a discount sending the dollar over time to the trash heap base on what its become.
The Russian currency strengthened to just under 72 rubles to the US dollar and to 77 against the euro during trading on the Moscow Exchange on Friday.
The ruble has now reached its strongest level versus the dollar since last November and against the euro going back to June 2020.
The ruble dropped to historic lows after Moscow launched its military operation in Ukraine in February, after which the EU and US along with allies imposed unprecedented sanctions targeting the country's financial system. On March 7, the Russian currency fell to as low as 150 rubles to the dollar and 164 to the euro.
Thanks to a series of steps undertaken by the Russian government, including imposing capital controls and requiring payment for natural gas in the domestic currency, the ruble has since more than doubled in value.Fiat currency has reigned in the last forty years, but every fiat currency that has existed in history has eventually failed. A study of 775 fiat currencies indicates the average life expectancy of fiat currencies is 27 years, with some taking a month to crash and others surviving for centurie.Since the U.S. dollar is a fiat currency, meaning that it is not backed by any tangible commodity (gold or silver), it can be created out of thin air. When more money is created, the law of supply and demand kicks in, making existing money less valuable. johnnie ellington @e7johnny · 29m And the the light has been shown and for it to be manipulated they sure are using it at a discount sending the dollar over time to the trash heap base on what its become.
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