This shouldn't be much of a surprise after all the Hoopla about the BRICS separating from the dollar in cross currency transactions, as well as readying to launch a BRICS currency backed by Gold. The FSoA response tightens the sanctions, so the Ruble exchange rate tanks.
The question is how much will this affect the Ruskies in their trade with China and what the Renminby-Ruble exchange rate will end up at. There has been talk of China devaluing the renminby anyhow, this may force it. If that happens Chinese toys at Walmart will drop, good newz on inflation, bad newz for manufacturing. This might force expansion of even more and bigger tariffs. A self reinforcing positive feedback loop.
Dark clouds on the horizon. Barometers gettin' low. According to all sources, down the toilet we will go.
https://www.newsweek.com/moscow-stock-exchange-trade-halted-ruble-collapse-sanctions-1912161
Russians Line Up To Buy US Dollars As Ruble Plummets After New Sanctions
RE
Russians Line Up To Buy US Dollars As Ruble Plummets After New Sanctions
Started by RE Jun 13, 2024, 07:52 PM
Message path : / Society / The American economy / Currency Markets & Inflation #8
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