Topic: Russian ruble is scam - page 12. (Read 2197 times)

Defaults three times in 123 years? Any currency would have a hard time taking that in. You have good reason to doubt there will be a fourth attempt; after all, "once bitten, twice shy," right?

We may look at past data and current economic patterns to estimate the likelihood, but such numbers rarely offer much solace. Like a box of chocolates, the foreign exchange market always has some surprises in store for you.

There are a lot of factors at play, including geopolitical tensions, sanctions, oil prices (given Russia's reliance on them), and global economic trends. Default prediction is like trying to capture a unicorn.

Don't waste mental energy wondering "what if"; instead, concentrate on "what is." If you want to make smart choices, you should monitor economic statistics and trends.

The answer is simple - if the world, once again, plays "loyal survivors", and SAVE Russia from collapse - everything will happen again and again, including wars, terrorism, provocations and blackmail of the normal world, which saved Russia more than once.
It is necessary to understand that Russia was not, is not and will never be an adequate world partner like other countries. It will always be not enough, it will always be offended, it will always be envious, it will always steal, and destroy, and LIE....
It seems to be time to create conditions for the liberation of the peoples of the regions of Russia that have been invaded by Muscovy/USSR/Russia over the last 3 centuries. And everything should end not with another crisis or default, but with the "direct pulse line of the international terrorist state".
Just don't try to resuscitate this foul-smelling corpse, let it go in peace....
By the way, what is amazing - after the described events - nothing negative will happen in the world, yes yes, just try to simulate a situation when tomorrow morning, just from the globe will disappear this country, and try to think of what will change for the worse ? You will be extremely surprised - but you won't be able to name a single point

PS All conclusions are based on personal experience of living in the USSR, staying in Russia, and on the study of real history.

They are all the same... corrupted to the bones. It's impossible to count how many times have governments manipulated all markets, bailed out fallen banks, and extracted money from different funds... on a daily basis over decades. I guess this list is endless.

And I think that any kind of repair is impossible, this world that is growing so fast needs something new and better, if it can save us from damned politicians and banks and all those people in suits.

Russia faces a high risk of default in the near future due to its low growth, high inflation, sanctions, and geopolitical tensions. They should change the name to SCAMble.

Also, it matters who owns this debt. If a large part of the Russian debt is owned by institutions and individuals from the Western nations, then Russia should just refuse to pay. First they can pay Russian citizens who owns this debt in Russian Rubles and can use currencies such as the Chinese Yuan to pay interest to those who are from friendly nations. Technically, it is still default but for now the Russian government should not worry too much about it. Sanctions are not going to stay forever and the payment to westerners can be done once the funds are released.

Fiat currency as a whole is a scam, but we have no choice but to use it since it is being controlled by the government.
Russian ruble surely have their own pros and cons, but they are trying to partner this with some of the powerful currency and that could be a big threat to USD seriously, especially with the current movement of BRICS countries. Anyway, what's your purpose of posting this? Its good that we have cryptocurrency now where we can have full control over our own money.

Lol! Defaulting on foreign debt has nothing to do with a currency being a scam. Even US was on the verge of defaulting recently, but the government just increased the limit of debt cealing and printed more money. Isn't that a scam too? Look before you leap.

Russia is full of natural resources and one of the biggest suppliers of oil and natural gas. It's not easy for the west to just impose sanctions and bring them to their knees.

why do you say that it is a scam? the continuously declining value of the ruble is a result of their unstable economy and increasingly massive western sanctions on Russia, but that doesn't mean that the ruble is a scam.

there are many reasons why a country would allow their currency to remain as it is and even tend to allow its value to continue to fall, first is they need it for exports, burden the sovereign debt, overcome trade deficits, make various foodstuffs more affordable, etc., so saying the ruble is a scam even when you don't know any economic theory like this is funny.

The subject is too silly! First of all fiat currencies don't default, the governments default on their national debt. It also is not limited to Russia, it is true about all fiat currencies since every single government has been printing fiat nonstop and increasing the national debt which they eventually default. The only difference is the size of that debt and the speed at which it grows.
By all measures US dollar is the worst since it has has the fastest speed at which the national debt grows not to mention that it also has the biggest debt of all times which US government defaulted just recently.

https://www.usdebtclock.org/world-debt-clock.html

The question is... Can this not be applied to ALL Fiat currencies?

How many times have governments around the world manipulated the "value" of their local currencies? How many countries have bailed out the Banking system with tax payers money to rescue them from a total collapse? (USA being at the forefront of those kinds of actions)

Since 1933, the U.S. dollar has lost 92 percent of its domestic purchasing power.... do you think the US Dollar are also a scam or is this just the natural future of all Fiat currencies?

        Yes, there is a lot of gas in Russia, but no one wants to buy it anymore because of the same economic blockade. Europe has almost completely abandoned this Russian resource and buys from others. It is already known that 50% of income from this source does not go to the treasury.
        For the default. So he has been several times in recent years. The country could not fulfill its obligations to investors. Somehow they got out, but these are prerequisites for something terrible. It seems to me that there is still more to come.

You are correct, the entire centralized monetary system is a scam on a large scale but backed by the government, so it is not listed as a scam. But it's confusing that the OP only mentioned the Russian ruble and ignored the currencies of other countries. I was also about to ask OP as panganib999 mentioned, maybe he lost too much in forex trading and came here to blame the Russian ruble, LOL.

But no matter what, though this monetary system is a scam and it is killing our lives every day because of its devaluation. We will continue to use it and cannot give it up completely even if we already have bitcoins. But as long as we use them wisely, don't hold them too much, don't trust them too much, and always diversify into other assets, there should be no problem.

Defaulting on foreign debt has nothing to do with a currency being a scam. Argentina has defaulted nine times already. Russia's situation is different because it is still capable of paying its debts but sanctions make it difficult to do so. The debt that it defaulted on was denominated in foreign currency so the ruble isn't involved in any way. Interestingly, if US and European banks continue to freeze their funds they might consider repaying their debts with Bitcoin.

Over the past nine months, Russia has only been able to partially capture the small town of Bakhmut in eastern Ukraine. Now the Armed Forces of Ukraine have advanced and seized the strategic elevations in the north and south of Bakhmut and are shooting Russians there like in a shooting range from artillery. The occupiers suffer heavy losses, but they do not dare to withdraw precisely through the PR of the capture of this settlement. The Russian army in Bakhmut is now in operational encirclement. In the past few days, only near Avdiivka, the situation has become more complicated. In other sections of the more than 1200 km front, the Armed Forces of Ukraine are cautiously and systematically moving forward. This is especially true of the southern front, where the offensive of the Armed Forces of Ukraine is greatly complicated by continuous minefields. Therefore, the Russian occupiers have been stopped for a long time and are suffering a military failure.

Russia is indeed a territorially large country and its depletion cannot be rapid. But a serious rebuff from Ukraine and international sanctions continue to do their job. Therefore, the Russian economy is slowly moving towards collapse.

It's still their currency and people on that specific country is still using. Despite of what they've started and we don't like what they've done, their currency is still a currency. Whatever you want to talk about with, next time add some more detailed thoughts on why you think it is and not just going leave some few words and make it left hanging. We've got our own currencies and from the system within the scams are being made by those cons and if it's about default, we know how it works and interest rates are being added on it.

Lol how much did you lose in forex for you to think that the ruble is a scam.

Countries left and right have defaulted and all that, we don't call them scammers too do we? Economic turmoil is bound to happen at one point in a country's lifetime, it's not something that they have control over especially since the world is ran on fiat and finite resources. To single out a single currency just cause they defaulted, during a crucial economic situation too is just a little stupid in my opinion. Cause if that were to be the case we should start calling every country who defaulted as scammers, USA included cause they are basically just dragging things out with the end game either them repaying their shit which is going upwards of a trillion now by the by, or not paying it outright and letting the whole economic world fall down.

The entire fiat money system is a scam, scheme, "long con" etc. Sure, you can look specifically at Russia, while I can look specifically at the U.S., or Europe, Britain, China, etc.

Every fiat money system is doomed to fail the moment that central banking is introduced and next when there is nothing backing the currency. You will never be able to pay the interest that you are owing to the bank on the first dollar that is lent. For example, if $1 is lent to a government at 1%, interest, will the $0.01 come from if that is the only $1 that exists? The same principle applies at scale.

USD have had their defaults, including the global financial crisis and the great depression, as well as crisis' in between. Other fiat currencies are ongoing largely irresponsible monetary policy, including USD, GBP, EUR, AUD, CAD, and more that are controlled by the west. The east have gained dominance in economic power however themselves and the rest of the globe using fiat currencies will all experience the same fate.

Ruble is not a scam the default in the currency doesn't male it a scam,since we know the reason behind it. The ongoing war and sanction of Russia from the western world has led  to the default in Ruble. With all the sanctions and ongoing war,Russia economy is still far better than some European countries because Russia has abundant of gas. I don't see this default as some drastic,since almost every country currency do default. No currency used by a government is scam. Russia needs to stop the ongoing war and embrace peace for the betterment of their economy.

Ruble is the currency for the nation Russia and as far as I am concerned a currency is under the control of the government, so expect you can be more elaborate I don't see how what you have said make any sense.

And there is no need to take short at the Russian ruble because at the moment so many other currencies has had their bad days, I don't expect much from currencies been owned by any government, because it may be good now and ones the wrong administration takes over it can go soar, that's still amongst the reasons why crypto-currency is ahead of Fiat.

It's not a scam, it's simply a currency that is controlled by a sequence of incompetent russian governments. Corruption seems to run deep in that country and everyone is willing to screw over their neighbor to get rich themselves. In such a society there is little cohesion and the rot starts at the very top - leaders do not want people that could unite against them, so they try to split people up as much as possible and apply pressure to individuals in the nastiest ways. Unfortunately until Russians free themselves from such dicktators they will be unable to heal this problem.