The Demolition of Russia's Economy

Discussion in 'Politics' started by gwb-trading, Mar 4, 2022.

  1. terr

    terr

    If you want to know what a ruble buys instead of the rate that Russian Central Bank decides, just for show, look at AliExpress - that's for actual, real transactions. Right now about 125 rubles per dollar.
     
    #281     Apr 7, 2022
    piezoe likes this.
  2. Tsing Tao

    Tsing Tao

    See, I'd consider what Russian crude is going for rather than "AliExpress". But that's me.
     
    #282     Apr 7, 2022
  3. terr

    terr

    Russian crude is sold for dollars not rubles. And Russians are having so much problem selling it, they are giving huge discounts (and often still can't sell even with that).

    Aliexpress, on the other hand, sells direct to consumers, for either rubles or dollars. You can pay in rubles. Or dollars. At the rate of 125:1. Which is the de facto exchange rate. Not what some official in the Russian Central Bank sets it to. RCB can set it to 1:1 - who cares.
     
    Last edited: Apr 7, 2022
    #283     Apr 7, 2022
  4. virtusa

    virtusa

    #284     Apr 7, 2022
  5. UsualName

    UsualName

    It’s going at a 30% discount.
     
    #285     Apr 7, 2022
  6. Tsing Tao

    Tsing Tao

    There are numerous stories out there about deals being made in non-USD currencies. And that's just the ones picked up by the media. Couple that with ships swapping transponders, going dark and switching flags and - while not perfect - its no where near as dark a picture as you and Usualname are painting.
     
    #286     Apr 7, 2022
  7. UsualName

    UsualName

    Excuse me but what am I painting?
     
    #287     Apr 7, 2022
  8. Tsing Tao

    Tsing Tao

    #288     Apr 7, 2022
  9. Tsing Tao

    Tsing Tao

    A dark picture. Of Russia's economic situation.
     
    #289     Apr 7, 2022
  10. terr

    terr

    ROTFLMAO. Who cares who's painting what. What matters is the facts on the ground. Russia is being sanctioned back to 1950s. At least. Hopefully even more. Complete destruction of the economy, with (unless they arrest Putin and his minions and send them over to Hague for trial) absolutely no perspectives for improvement.

    "Painting" whatever here in this forum is meaningless. Reality is important. And reality is extremely bleak for Russia. Very deservedly.
     
    #290     Apr 7, 2022