goldenowl73 said:Alright, let's play a game. What would you actually do if the Federal Reserve suddenly jacked up interest rates on Dollar savings to 20%, while keeping Euro savings stuck at a measly 0.8%?
The Federal Reserve more than doubles its key interest rate to 20% to try and save the sinking ruble
What do you think happens to the value of the Dollar in that scenario?
That’s exactly what Russia did right when the invasion kicked off. They started cutting it back gradually later on, but they never once allowed people to just freely buy or sell foreign currency on their own terms. If you don't call that artificial market manipulation, then I honestly don't know what does.
Now we're just faking data? Your headline and stats don't match the actual article; you basically "edited" the link title to suit your narrative.
The article states the rate is 8%, not the 20% seen immediately after sanctions hit. It was lowered several times shortly after. Actually, if memory serves, it was 9% before the conflict, and now it's even lower.
They're struggling, clearly. 🤣
We saw this whole play in 2014. After the initial shock and the crash, the Russians adapted. They went from being net importers to arguably the biggest agricultural exporters, bolstered their industry, and stockpiled record amounts of gold and reserves.