Russian stock market closed today and tomorrow. Stock market is down more than 50% over the last few months. Ruble lost 30% of it's value today after losing quite a bit last week. Central Bank doubled its interest rate overnight from 10% to 20% to try to prevent runaway inflation. This all the makings of a complete economic collapse.
Not even that far back. The 90s was insanely corrupt during the privatization period. Yeltsin years were wildly corrupt. He allowed businessmen to basically steal the majority of Russia.
I made the mistake of going to cnn website, they had a 6 year old girl and seeing her life less body on pictures was too much, but seeing her little pink jacket and dinosaur sweatpants all bloodied, I don’t know why but tears were coming from my eyes. It was too much, and sight of blood or gore typically doesn’t affect me F Putin !
That's not how it works. All of Russia's money is not Putin's money, that's not how fiscal systems work. Most of his money probably never made it into the treasury, so no, it does not come from the treasury. They do have private and public financial sectors.
How does Crypto avoid sanctions? Would countries still have to do transactions, just using crypto? How does it change anything? And what value does crypto have itself, for a country to want it so bad? Don't you have to convert crypto to some other currency?
Saw the same story. I think the pants were unicorns. They look almost like my daughter's. Horrible man.
Wait what money are we talking about? I am talking about the government money. What money are you talking about? The money Putin has control of us what I am talking about
Where are they going to spend this crypto, who is accepting crypto at that scale that an entire country can run on it? They would still need a bank consortium to spend crypto for crypto to be worth as much as other currency centralization is going to happen at some point, it's what holds the global banking system together. Central parties have to agree what crypto is ultimately worth and agree to use it, which makes it centralized. Is crypto now something I can spend anywhere like other currency, did I miss that? Do you think they could just go all crypto next week?
Yea I guess it hit me so hard because she looked near identical to my own daughter when she was 6 …seeing her clothes absolutely shook me because of the innocence. Rest easy princess. This world didn’t deserve you.
Yeah, my point was Corruption was already a thing during the soviet years it was entrenched, that's why it was such a free for all once the wall fell. This was not just a 90's or 2000's thing.
Sadly we're going to see more that probably. Russia has barely even engaged in this war so far to be honest. We haven't seen them utilize their artillery or their air power in the way they did in Syria. Today we've heard reports that they've begun shelling a major city. We've barely seen this. If and when they begin unloading on Ukraine the way they have elsewhere this will bring dramatic pressure on the Ukrainians to surrender.
Just to be clear, it's an article you have to click that quotes the father "Show this to Putin" and warns you it will be graphic and explicitly says it will feature a dead child
The argument is for crypto as a primary global reserve - not crypto today. If the whole world transacted in Bitcoin and it was a $100 trillion market, then if Russia's Central Bank had $600B in Bitcoin, there's no way for anyone to seize it. They could trade it anywhere or give it to their citizens as pay, etc. Xerobull wasn't making the argument that Russia should have crypto today; he was making the argument that one of crypto's potential value propositions is that no one can take your money like what just happened to Russia.
And one of the reasons why the Western world and democracies in general will fight against the rise in Crypto and/or develop techniques to steal it and disrupt it. A truly untouchable currency is not something that democracies want the world to have because then it means the only way to effect change or exert political pressure on rogue states is actual force.
