Russian invasion of Ukraine

Corky said:
Their money is devaluating with inflation and they can't but another stable currency to mitigate the losses. Everything they import will be rocketing as it is, and it will be a case of paying for your Vodka when ordering in the bar rather than on the way out when the price has shot up.

Eventually there will be hyper inflation if the war continues, and Russia runs out of trading partners, the country will be in debt an they will print money without the economic resources to back the currency up, and then everyone's savings become worthless rubble.
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So, are you in favour of Ukraine or Russia?
 
Corky said:
Their money is devaluating with inflation and they can't but another stable currency to mitigate the losses. Everything they import will be rocketing as it is, and it will be a case of paying for your Vodka when ordering in the bar rather than on the way out when the price has shot up.

Eventually there will be hyper inflation if the war continues, and Russia runs out of trading partners, the country will be in debt an they will print money without the economic resources to back the currency up, and then everyone's savings become worthless rubble.
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Agree. I would add that all sorts of things will start to disappear from shops. Foreign business's will close and the economy will start to stall. It will take some time but literally millions could lose their jobs. Putin could create jobs and print money to pay them but if there is nothing to buy its worthless. The ruble value will fall as fast as they can print it. Eventually the black market and foreign currency overtakes the official economy. Public sector jobs are paid in worthless currency and at that point the state tends to collapse. All depends on the extent to which they can become self sufficient and endure hardship.
 
domalino said:
That's (a) not true, thousands of Russians are leaving every day while they can
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Well in a couple of weeks time they won't be as the aviation industry will grind to a halt there.
domalino said:
(b) not the point, unlinking the currency essentially makes the ruble worthless, it will be like Venezuelan dollars.
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Yes I'm aware of that, so there will be no point going anywhere anyway as they'll have no money to spend when they get there, unless they have other currencies stashed away in a pillow.
 
domalino said:
That's (a) not true, thousands of Russians are leaving every day while they can and (b) not the point, unlinking the currency essentially makes the ruble worthless, it will be like Venezuelan bolivars.
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Only the educated or wealthy ones are leaving and erm they don’t matter as they believe the lies of the lying free press over the beacon of truth & integrity that is Kremlin TV.
 
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