Russia unveils domestic payment mechanism for energy exports;
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The ruble has surged on Wednesday after the announcement that payments for gas exports to certain Western countries will be switched to Russia’s domestic currency.
The Russian currency immediately rose to a three-week high of 95 rubles against the dollar, before settling below 100. It also gained 3.5% against the EU’s currency, trading at 110.5 rubles per euro.
Russia plans to abandon all “compromised” currencies in gas payment settlements, President Vladimir Putin said on Wednesday. He added that illegitimate decisions by a number of Western countries to freeze Russia’s assets destroyed all confidence in their currencies. Therefore “unfriendly countries” will have to pay for Russian gas in rubles, Putin said.
For countries to trust your currency you must be very straight in matters finance. You cannot manipulate currencies.
The only way to guarantee this is to have an independent, democratic economy.
Russia doesn’t have that. Putin does manipulate currency. The ruble is Putin, Putin is the ruble.
As in you can buy something with rubles kisha Putin devalues the ruble, uta do?
Biden can’t manipulate the dollar because Republicans would make noise like a motherfucker even if he switches off their social media accounts. The courts would reverse his actions.
Remember how Senator Manchin and Sinema both Democrats recently joined Republicans and denied Biden the opportunity to print more debt.
In Russia you can’t order or deny Putin of anything.
The U.S prints both dollars and bonds but hio bond umeshikilia ndio the true value of the dollar.
Because the U.S dollar is not pegged on gold, it is pegged on debt. Yaani it is pegged on the trust that ukirudisha hio bond to the U.S govt, it will give you your money back.