Russian ruble is scam - page 13. | Bitcointalksearch.org

Hamza2424

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Quote from: two.625 on July 22, 2023, 07:09:30 AM

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

Oooppss, I don't have any research or information related to the default of Russia and the facts behind it but, if Russia defaulted 3 times previously and going to default again 4th time, I don't think so because Russia currently has a lot of Allies and never forget the natural resources Russia is owning, Probably Russia is one of the Richest country in the entire world from the resources point.

Quote

Russia defaulted on part of its foreign currency denominated debt on June 27, 2022 (because the money got stuck in Euroclear), its first such default since 1918 (in 1998 it was ruble-denominated bonds).

This is what I found after a quick Google, I don't know the intention of OP because there is nothing in OP so, leaving it I think now Russia may not default at least in the current situation because Russia is building good relations with the Aisan major countries and more interestingly Russia is developing relations with the Gulf countries on a fast rate.

Gyfts

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Be specific in the type of default. It isn't a ruble default. A currency itself cannot be defaulted on if a country is capable of printing more of that currency. Ruble isn't actually a scam any more than any other currency. The 2022 default isn't a currency crisis, Russia's debt is in foreign currency/assets so they couldn't print more ruble to pay off the debt if they wanted. If their economy can't support the amount of debt they have, then ruble crashes along with the Russian economy.

Chance of Russia's economy recovering to avoid future defaults are dependent on how long they choose to occupy Ukraine. Their currency will be strong as long as they keep up energy exports and the price of oil doesn't crash.

Catenaccio

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Quote from: two.625 on July 22, 2023, 07:09:30 AM

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

The Bolsheviks to Putin: a history of Russian defaults

Putin was appointed as a Russian President in December 1999 and despite of his self praise that he helped Russia to be better in finance. It mostly comes from growth of oil prices and the default, the third one in Russian rubble history is no more or less than a confirmation for Putin failures in governing Russian economy.

Russia will repeat its default if its politics won't separate from communism and its economy won't stop relying on oil.

Russia’s 1998 currency crisis: what lessons for today?

Darker45

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Well, there must be certain viewpoints which consider the Russian ruble as a big scam. But if we are to consider the reasons, we might end up generalizing that all fiat currencies are also scams. They may differ in degrees, but since they are all operating under this questionable fiat monetary system, then they are all fraud in one way or another.

First and foremost, these fiat currencies are not backed by any commodity. They are of no intrinsic value. In the absence of any enforcement coming from a powerful entity, these currencies have actually no use value.

joniboini

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Quote from: LittleBitFunny on July 22, 2023, 08:14:53 PM

But the EU's economy is not much better, if not worse, than Russia's. If the ruble is a scam, then all currencies in this world are government sponsored scam schemes.

How are they similar or worse though? Which part EU are you talking about here? Some countries in the EU seem to have different issues from one another, like energy, climate, and so on if those media reports can be trusted. But I don't think it is remotely similar to what Russia gets from sanctions etc.

I think fiat in general is susceptible to manipulation regardless of who issues it.

LittleBitFunny

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Quote from: jacafbiz on July 22, 2023, 11:16:15 AM

Quote from: two.625 on July 22, 2023, 07:09:30 AM

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

He who don't know, don't talk. People need to separate politics and sentiments from reality. Anyone that have been following politics since the beginning of the war knows what is going on, Russia has been sanctioned severely which resulted into the default you are referring to, and they are unable to service their debt, but they are doing better than it is being reported in the media because the media wants you to think along their own talking point. Russia is doing better than some of these European countries if you do your home work well, but it wasn't publicized.

The war is still ongoing, and I see that the Russians are still living very well, but if you read the news from the Western press, it is quite the opposite. Just like a few months ago, the US and EU media reported that the Russian military had exhausted its arsenal and could not prolong the war any longer. But so far, the US, Nato, and Ukraine have been unable to stop Russia, let alone make them fail badly.

To be fair, the Russian economy is not immune to the impact of those heavy sanctions. But the EU's economy is not much better, if not worse, than Russia's. If the ruble is a scam, then all currencies in this world are government sponsored scam schemes.

STT

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Its a certainty, all currencies should be taken as quite certain to default on some timeline. The only currency Ive read is not listed as defaulting at some point is sterling but its also lost almost all its value so a kind of soft default, in the end its very similar to others not superior or much different. A hard default does tend to become the news and obstruct business in a country, sterling has some of the oldest contracts and insurance business partly because of its long term currency. Dollar has mostly taken over the mantle of chief reserve currency in the world and is trying to mimic this controlled decline in its value and so too the longevity and popularity for business especially financial settlements in its jurisdiction.
Ruble has lost most of its credibility but its also a largely commodity backed economy and currency so I dont believe their doubts day to day are too relevant when its quite certain nations will come to them seeking that energy resource. Neither China nor India has the oil it requires to match its population so Ruble is not likely challenged near term is my view.

serjent05

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The third default happened because of the economic sanction, if Russia keep on doing their things the same way then it is very possible that their fourth default will happen. After all, we can't expect new things from the same old ways.

Quote from: jacafbiz on July 22, 2023, 11:16:15 AM

He who don't know, don't talk. People need to separate politics and sentiments from reality. Anyone that have been following politics since the beginning of the war knows what is going on, Russia has been sanctioned severely which resulted into the default you are referring to, and they are unable to service their debt, but they are doing better than it is being reported in the media because the media wants you to think along their own talking point. Russia is doing better than some of these European countries if you do your home work well, but it wasn't publicized.

Media are in cahoots with the government to lie to people. showing only the good side of the coin while putting all the negative things in the graveyard. Media only shows the people what they wanted to see and it is very effective reason why lots of propaganda are process through media.

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Quote from: two.625 on July 22, 2023, 07:09:30 AM

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

Because Russia is always involved on a civil war which they waste most of their finances on improving their war power. Rubles is not scam but the government behind it that abusing it to fund their war which the citizen is paying.

I think there’s a high probability for the 4th or more to happened unless they stop wagering war and burn their resources while other countries sanction them to inflict economic damage. Russia is a great country, their government is just focusing on military growth for war.

jacafbiz

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Quote from: two.625 on July 22, 2023, 07:09:30 AM

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

He who don't know, don't talk. People need to separate politics and sentiments from reality. Anyone that have been following politics since the beginning of the war knows what is going on, Russia has been sanctioned severely which resulted into the default you are referring to, and they are unable to service their debt, but they are doing better than it is being reported in the media because the media wants you to think along their own talking point. Russia is doing better than some of these European countries if you do your home work well, but it wasn't publicized.

EarnOnVictor

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First, you are too short with what you wrote, and second, it should have been written in the economics section, or better still the speculation section based on the nature of the question.

However, for correction's sake, the Russian Ruble can't default, it's the country that can default while Russian Ruble reacts accordingly to it. And this happens when the country can't fulfil their foreign currency debt obligations.

The last default was on the 27th of June this year and the reason is obvious (western sanctions).

two.625

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Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

Topic: Russian ruble is scam - page 13. (Read 2197 times)