The exchange rates in Tbilisi, Georgia.
Notice the Russian Ruble is worth ZERO.
Notice the Russian Ruble is worth ZERO.
The Demolition of Russia's Economy
- Thread starter gwb-trading
- Start date
Russian vehicle production in March dropped by 72.1% compared to March 2021. May will probably get it to a standstill.
In other news: Tata Steel, the biggest steel-producing company in India (note: India did not institute any sanctions against Russia) announced it will stop buying Russian coal.
In other news: Tata Steel, the biggest steel-producing company in India (note: India did not institute any sanctions against Russia) announced it will stop buying Russian coal.
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Mayday mayday!!! A 50% drop in last year.
Dropping again till the 2016 level. So 6 years lost. It is clear that the economy in Russia is not hurt at all. LOL.
All of this will of course send the ruble skyrocketing because… the ruble is a lie.
As shown in many photos --- The Russian Ruble is trading at zero in many foreign countries that don't have sanctions with Russia. This includes both their market exchanges and their street retail exchanges. Russia can prop up the Ruble and claim an exchange "value"... but unless there are international markets open for trading the Ruble is worthless.
During the Soviet times the official rate for ruble was 4 dollars to 1 ruble. Yet, if you actually wanted to buy dollars, there was no official way. If you were leaving USSR, you could pay someone 4 rubles in return for someone giving you 1 dollar when you came out.
If this reaches any kind of volume, there will be secondary sanctions enforcement.
Indeed. The second tier-follow-on issues from the sanctions are beginning to set in.
One such issue is India's selling of diesel fuel to the world.
It is now being processed from Russian oil and then being sold as Indian diesel.
So this is a Russian product or a product of India?
hmmmmmmm. People are asking.