There are other ways to hide money, and Russia still has banks which can distribute money from reserves. Once again, he is not personally financing the war the government is, so his personal finances have no bearing on funding of the war. One thing has nothing to do with the other.
Putin’s money is Russian’s money. It comes from the same source the Russian treasury. So yes one thing has everything to do with the other.
? How does this work for the entire country and if you don't have electricity or internet, what does it matter if you have a USB stick? Who is going to trade basic goods for day to day living for crypto? We will probably not isolate the entire country, but you don't have to do it to cripple crypto. If you do walk to place a place with a computer, how are you going to get something to eat or drink?
If that is true it will make it worse for Putin in the long run. More hurt will come his way in sanctions and other methods. The screw will definitely tighten around him. Financially and politically
The crypto argument is that no one can freeze his crypto. Right now, the Central Bank sanctions work because the Russian Central Bank has currency stored abroad that they can't now access. If they had it in crypto, you couldn't "sanction" it so Russia would still have access to it. That said, it's still a terrible idea.
The 680B "Putin" has is just shorthand for Russia - that's the Central Bank's money that's slowly getting frozen all over the globe. Much of it was in the US and EU countries, but some is in Switzerland, China, gold, etc. The more that gets frozen, the more his options get squeezed because the currency will crash.
Game on edit. They say they will attack the government not the people of Russia. Still let’s see what they will do that they haven’t done already Further edit
I don't think you can buy anything with crypto on the International level right now with these sanctions against them, right? Isn't all export and import stopped? DD
You don't need to even cut a deal if the Russia Ruble crashes to nothing. That's why the unified sanctions is a huge deal. Money is only as good as if someone will accept it. Now if Putin had already stashed enough gold prior, that could last them some time.
None of this makes any sense and no not all Russian money ties back to him. There is no single entity that can cut off all of Putin's money, nor does all Russian money depend on Putin allocating it. Troop morale is already crappy, inflation and the loss of value to the ruble is eroding it further, and it has nothing to do with Putin's money.
We're at a point now where Russia has electricity and internet. If they used crypto, which is decentralized, it wouldn't matter if they were cut out of a bank consortium like SWIFT. Their digital money would be decentralized. If they're back in the stone age with no electricity or internet, it's all a moot point and they're in a bartering system and not using fiat. They have been completely conquered.
Right - but they could sell crypto for cash and then use cash to pay their army or whatnot. I'm sure they can still buy goods from China, on the black market, etc.
The point of decentralization is that their money wouldn't be frozen or sized by other countries or banks. Spending that money is a challenge with sanctions and embargoes but they would still have it, at a value measured by the world market.
On the flipside, as @MadMax said, if the world successfully crushes Russia through the use of sanctions, it's going to be a huge motivator for governments to get control of crypto in the future so they can retain that option. And as you say, a huge motivator for sketchy countries to rely more on crypto to avoid santions/etc.
Again Putin’s money comes from the treasury it is the same. Putin controls the purse strings of Russia basically. He controls the central bank does he not? Troop morale is already crappy I agree.
This is simply untrue, Russia has had a history of corruption throughout the soviet rule. Art of the Bribe: Corruption Under Stalin, 1943-1953 https://yale.universitypressscholarship.com › view › yale
It looks to be true. I've seen a lot of footage of apartment complexes being hit by their rocket artillery and many civilians in the street badly wounded or dead. Plus, several rockets that didn't explode in the middle of apartments. Including one in what looks to be a kids bedroom.
