kvs wrote:GunshipDemocracy wrote:
Well Ruble is not a reserve currency, please bear it in mind. In general do not live beyond your means i smart idea. What bugs me is why Russia is so dependent on people with view a la Kudrin (western mythical investors, technologies they will not sell us technologies and we depend on them!!! - like you cannot develop on your own? ) - who are either interested in colonial status quo because of money they make. Or even worse - they´re mentally colonized...
SMERSH in short
Russia does not need for the ruble to be a reserve currency to handle deficits in the 5% and even higher range. Deficits are not
money printing so the inflation risk is not there. The only problem is debt accumulation. But Russia is clearly not using deficits
to fake GDP growth like most of the OECD. But propagandists bleat as if Russia is in imminent danger of collapse when Russia runs
very tame deficits for a couple of years while keeping quiet about decades long deficit stimulus of OECD GDP numbers.
one of oldest banks in the world survived everything but not this time. lost 99% of value.
i think theyll try to make dolar strong bonds strong and gold as low as possible to buy it out,before hyperinflation and prices skyrocket, western system is more and more showing cracks and fragility is increasing.
westerners would never let china reminbi be reserve currency under normal circumstances but it is and it show how desperate they are. now even mmf can print currency - SDRs.