8mo ago

Russia’s rouble plunges to lowest rate since early weeks of Ukraine war

www.theguardian.com

Rouble hit 110 against the dollar after US introduced sanctions against Gazprombank, Russia’s third-largest bank

16 comments

Let's say some crazy person decided to just go and buy, let's say, a million rubles, just for the sake of saying they're a millionaire.
It is on a sinking course but it will eventually recover value. If time was of no concern, wouldn't that person eventually make something out of it?
- but it will eventually recover value
  That's a pretty bold assumption.
  
  The war that country triggered is the work of a dictator but the country itself does not deserve obliteration.
- That’s called Forex, you’d have better luck with stocks.
  
  For the giggles of it? I would. Do I have the cash? I don't.
- If your goal is to lose money, then that's a great plan. There's almost no chance that investment would ever beat the amount of money you'd make by investing in an s&p mutual fund
- I don't think you get anything if they end up defaulting, which is likely to happen.
- Depending on what country you’re in and from it might be hard to get them, and if you do you might be going against some sanction.
lets see if the central bank of Russia is still going to buy the ruble or if they have to because Putin said so. at this rate it does not matter how much Russia increases there Military budget it will keep going down anyway.
Hopefully it's not too late before Trump gets in to undo it all.
Let's say it how it is: it doesn't matter if:
Russia wins the war
Russian citizens don't feel the pain
The West just continues treating Ukraine as a drone testing area
Trump stops helping Ukraine
Nearly a third of Russia’s 2024 budget has been allocated to military spending, the highest level since the cold war.
While all of NATO's military spending wobbles around 2% like there isn't a war going on.
- Don't think just looking at the regular yearly budget covers everything spent in the context of that war (e.g. Germany's special budget, EU-level spendings, etc.), but I agree there should be (even) more.
It's good news that this is the result of new sanctions instead of insider trading over a nuclear strike decision.
- The guardian doesn't have a paywall

16 comments