Is this why Russia goes to War?
The ruble has been under constant strain from US exporting inflation, even more so during COVID. The ruble is already near record low valuations against the $. Russia has been forced to stem inflation by raising rates:
"Reuters: MOSCOW, Dec 17 (Reuters) - Russia's central bank raised its key interest rate by 100 basis points to 8.5% on Friday and said more than one rate increase was still possible in coming months as inflation was near a six-year high.
Russia has raised the rate seven times this year from a record low of 4.25%, increasing the cost of borrowing to fight stubbornly high price pressures and expectations for inflation - its main area of responsibility - that are close to a five-year peak."
Russia has a severe dollar problem and it seems she is ready to play her trump card. Russia has been feverishly buying gold since 2012, tripling their reserves : (source: tradingeconomics.com/russia/gold-reserves). Does Russia along with China and others announce a Gold backed Ruble/Yuan? They cannot risk invasion without severe inflation/hyperinflation. They need to get off the dollar system, the US is already threatening SWIFT.
Is this why Russia and China are ready to go to war? To defend their new currency?
"Reuters: MOSCOW, Dec 17 (Reuters) - Russia's central bank raised its key interest rate by 100 basis points to 8.5% on Friday and said more than one rate increase was still possible in coming months as inflation was near a six-year high.
Russia has raised the rate seven times this year from a record low of 4.25%, increasing the cost of borrowing to fight stubbornly high price pressures and expectations for inflation - its main area of responsibility - that are close to a five-year peak."
Russia has a severe dollar problem and it seems she is ready to play her trump card. Russia has been feverishly buying gold since 2012, tripling their reserves : (source: tradingeconomics.com/russia/gold-reserves). Does Russia along with China and others announce a Gold backed Ruble/Yuan? They cannot risk invasion without severe inflation/hyperinflation. They need to get off the dollar system, the US is already threatening SWIFT.
Is this why Russia and China are ready to go to war? To defend their new currency?
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