Loading ...Russia’s ruble is still worth less than a penny, and the Kremlin’s piggy bank for propping it up is running low
The ruble has come off its lows from earlier in the week after the central bank halted all foreign currency purchases for the remainder of the year, but it remains battered—and resources for preventing a further collapse are shrinking.
On Friday, the central bank set the official rate at about 108 to the U.S. dollar. While that’s improved from Wednesday’s rate of 114 on the spot market, that’s still means one ruble is worth less than a penny.
https://finance.yahoo.com/news/russia-ruble-still-worth-less-202142459.html
An interesting theory but does anyone REALLY think that they are hurting Russia with this move? Russian no longer uses the $US for trade settlement –> this move drives up the price of their oil in ruble terms –> which increases their overall domestic budget –> which means they have more $$$ to spend on war economy –> which makes them stronger not weaker.
Are sanctions designed to help or hinder — Russia has just had their best fiscal year EVER — as reported by the US MSM!
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Yup, Russia is just humming along while EU, US, Canada are tanking – U.S. about to do a deep dive in 2025. No way around it. so much is baked into the cake.
Was talking with my wife over breakfast. $35K a year in retirement should be plenty as retirement costs should be lower than working/career phase costs.
At $40K a year peeps are stretched. Just basic living costs – food, shelter, clothing, car, insurance (home & car, never mind healthcare), utilities, add in a cell phone or two and internet and man, it’s tough to make ends meet. Now add in an occasional meal out, perhaps a trip or two to see the kids/grandkids and you are up against it. Good heavens, man, a decent loaf of bread is now $4. Gas still hanging in there at $3+ a gallon. I cannot imagine raising a family on an income of $40K. Even $50K. How about $60K?
When I left Canada to work in the USA we first moved to Houston. We bought a brand new home in a golf club community, 1600 sf 3 bedroom, two bath, brick & siding with shaker shingles for $62K. I was making $28K and one year old baby. We didn’t want for much.
Fast forward 6 years and we left Canada for good this time – moved to Clearwater FL. I was now making $45K and bought a new home with a pool, concrete block construction and tiled roof for $92K. Now with two kids, both in private Christian schools. Again, did not want for much.
The U.S. is a basket case today and the general population doesn’t know it yet. People are working two jobs, both parents working, side jobs on the weekends…the upper crust is doing fine as they always do. But you get below the top 10% and things are stretched tight.
Hell, when we moved to Dallas in 1997 we bought a brick home including a golf membership, nicest home we ever lived in with a huge bonus room 3 baths for $168K. I’d have a challenge finding an older mobile home in Florida for that price today. The entire USA is a giant ponzi scheme about to come undone.
Got gold? Got guns? Got grub? Plenty of ammo? Plenty of silver coins? Just because we recently played the game of musical chairs changes nothing on the “living life” front, the end game is still the same.