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Sanctions on Russia

Started by Richard Wilson4 · · 👁 93 views · 9.5K replies

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Participants Richard Wilson4velvetcyclist95Jeremy Peterson4silentsurfer3rowdytiger13Carol Newman2William Anderson5Carl Cookfrozencobra50Paul Patel95Michael Davis10Gary WilsonGregory Ramos3slyfox43dustywolf13Tyler Jones6Larry Walker24Ashley Ramirez4Paul Clark80Adam Lee13northernangler8Nancy Ruiz5James Chavez91neonheron9 …
Christian Torres3 Christian Torres3 Regular
604 messages
joined Sep 2014
#8721 ·
Noah Diaz said:Look, when it comes to sanctions, they matter immensely. They dictate how Russ exports oil, gas, and other resources while importing essentials. For instance, they picked up drones from Iran, which joined the SCO last year.

The SCO and BRICS could eventually evolve into a full-blown military-economic bloc. One capable of controlling vital trade routes and resources while directly challenging American hegemony.

That is the multipolar world everyone keeps talking about.

They didn't "get" them, they bought them. And Iran got Israeli drones.
In the future, NATO/BRICS could evolve into a military-economic powerhouse that controls key trade routes and resources, effectively countering US hegemony.

That's the whole "multipolar world" everyone keeps talking about.

Sure thing. Keep dreaming. Goodnight.
George Robinson43 George Robinson43 Regular
472 messages
joined Oct 2017
#8722 ·
More than half of the people living in BRICS nations endure poverty and squalor, yet they are poised to oversee global resources and trade routes. 🙏 🙏
Nathan Thomas12 Nathan Thomas12 Regular
265 messages
joined Apr 2022
#8723 ·
Noah Diaz said:Look, when it comes to sanctions, they matter immensely. They dictate how Russ exports oil, gas, and other resources while importing essentials. For instance, they picked up drones from Iran, which joined the SCO last year.

The SCO and BRICS could eventually evolve into a full-blown military-economic bloc. One capable of controlling vital trade routes and resources while directly challenging American hegemony.

That is the multipolar world everyone keeps talking about.

Yeah, sure. And in the near future, Russia will be cranking out the best microchips on the planet.
John Ramos45 John Ramos45 Active Member
73 messages
joined Apr 2023
#8724 ·
George Robinson43 said:More than half of the people living in BRICS nations endure poverty and squalor, yet they are poised to oversee global resources and trade routes. 🙏 🙏

They seem to be getting along famously lately, with the Chinese ordering this specific mess just to take a swing at India, though I wouldn't be surprised if the Russians end up catching a blow to the back as well.😁

https://twitter.com/zhao_dashuai/sta...SuvCv_mBQ&s=19
hiddeneagle98 hiddeneagle98 Regular
300 messages
joined Nov 2023
#8725 ·
Nathan Thomas12 said:Yeah, sure. And in the near future, Russia will be cranking out the best microchips on the planet.

And this is exactly what everyone is talking about right now.
Carl Lee27 Carl Lee27 Regular
368 messages
joined Feb 2024
#8726 ·
I was just thinking about how things are shifting so fast lately, but it looks like the US is finally getting ready to pull the plug on importing aluminum from Russia too. It feels like every time we turn around, there's another layer being peeled back in these trade restrictions, and honestly, it makes sense if you look at the bigger picture of where everything is heading. It’s all part of that massive shift in how we handle business with certain countries, and it feels like we're moving toward a completely different global setup than what we were used to even just a few years ago.
I was just scrolling through Bloomberg and stumbled onto this piece about how the US is looking at pulling the trigger on some serious measures to rein in those imports coming out of China. It’s getting pretty intense because the trade deficit is starting to look like a massive headache that nobody really wants to deal with, especially when you consider how much we rely on certain consumer electronics and everyday household stuff from overseas. They're talking about everything from slapping on new tariffs to implementing all sorts of non-tariff barriers just to try and level the playing field, which honestly feels like we're heading toward a major shift in how global trade actually functions. It makes me think about what Christian Torres3 said the other day regarding market volatility—it’s like we’re constantly bracing for the next big policy shift that could flip the script on entire industries overnight! I mean, if the US decides to go full throttle on these restrictions, we aren't just talking about a few extra cents on a gadget; we're talking about a fundamental restructuring of supply chains that have been set in stone for decades. It’s wild to think about how quickly things can change when the government decides enough is enough, and I can't help but wonder if we're truly prepared for the ripple effects this might have on our own domestic prices. Everything feels so interconnected now, doesn't it? One move in Washington and suddenly everyone from big retailers to the guy buying a new phone at Best Buy is feeling the squeeze.

Carl Lee27 said:Man, you really have to look at these numbers because the budget revenue from oil and gas sales is absolutely cratering—we’re talking a massive 46% drop Year-over-Year! It's wild when you lay it out; back in January 2022, the budget was pulling in 795 billion rubles from those energy sales, but by January 2023, that figure had plummeted down to just 426 billion rubles.
https://www.google.com/amp/s/oilpric...-Year.amp.html

And get this—the European Union's embargo on oil derivatives is officially kicking in this Sunday.
It isn't just that the European Union is cutting off imports of these derivatives entirely; they’ve also hammered out a price cap for sales to third countries, which basically mirrors the restrictions already in place for crude oil.
https://www.google.com/amp/s/amp.cnn...cts/index.html

On top of all that, word is the tenth round of sanctions should be finalized sometime during February.
https://apnews.com/article/russia-uk...513e34d9898ce2

It’s actually pretty wild when you dig into the numbers—it wasn't just the revenue from oil and gas exports that took a massive hit. If you look back at the data from January 2022, there was this huge, sweeping drop across basically every single revenue category in the federal budget compared to what we were seeing in January of the year before. We're talking about a staggering 28% decline across the board! It really puts things into perspective when you realize the whole fiscal picture was shifting like that.
Honestly, if I were sitting in that central banker's chair right now, I’d probably start offloading tons of gold immediately. It looks like both silver and gold have officially started their downward slide, and man, things are looking shaky.

Bryan Booth82 said:The other day, I’m watching TV and there’s this former big shot from Siemens—a guy who apparently met with Putin three separate times, mind you. Now, Siemens does gas turbines, right? And this guy basically admits that when it comes to the economy, Russia has absolutely nothing to offer besides oil and gas...

It just hits me: are you kidding me? You’re sitting on all that gas, yet you can't even manufacture a decent damn turbine yourselves?🤔
Putin thought he could hold the European Union hostage by threatening to cut off the gas, but now he can't even guarantee the supply himself. What a joke.

Best,

People aren't struggling because, with the help of the West, our natural resources are being stripped away and shipped off to those same folks who send the foreign currency back our way. And let’s be honest, the reason we haven't moved forward is that we take all that hard-earned cash and immediately dump it right back into the West to buy high-tech miracles that we can only dream of manufacturing ourselves! It’s this bizarre cycle where the people refuse to give up either side of the coin—we won't stop exporting our wealth, yet we won't stop importing their gadgets. But here's the kicker, the part that really gets me: at the exact same time, everyone is cheering for us to finally show the West some teeth and completely sever every single tie we have with them. It's such a wild contradiction, isn't it?
Honestly, this behavior is just straight-up bizarre.

If you’re asking me for a prediction, I honestly believe we’re going to see Russia start looking more and more like North Korea. Now, don't get me wrong, they aren't ever going to be an exact carbon copy—Russia is just too massive, and they've had far too much exposure to Western influence over the centuries to completely sink that deep—but the trajectory is there. Just look at how South and North Korea stand today as two entirely different civilizations; from the perspective of an average person living in any neighboring country, Russia is going to seem increasingly bizarre, increasingly isolated, and just... strange. It’s going to feel like a totally different society. And just like what happened with North Korea, I suspect Russia’s policies—starting with their foreign affairs and eventually bleeding into their domestic life—are going to be increasingly dictated by Beijing. Of course, they’ll probably cling to some sort of local charm, because let's face it, every backwater corner of the world has its own unique set of headaches and absolute disasters, like an uncontrolled HIV epidemic or something along those lines. Speaking of which, while all the medical breakthroughs and life-saving miracles from the West have been "mercifully" exempted from sanctions, I have a sneaking suspicion that the real issue won't be availability, but actually being able to pay for it. I mean, unless someone in Russia seriously believes that Pfizer, Philips, Johnson & Johnson, and the rest of the gang are just handing out their products and services for free!
You know, we’re stepping into a decade where the West is going to be pouring hundreds of billions of dollars every single year into research and treatments targeting, quite literally, the aging process itself. It's wild to think about. Meanwhile, over in Russia, they're heading into a decade where the pharmaceutical and medical sectors are going to find it harder and harder just to keep pace with what was standard back in the 20th century. Honestly, it's starting to look a lot like North Korea ☕
Christian Torres3 Christian Torres3 Regular
604 messages
joined Sep 2014
#8727 ·
Carl Lee27 said:I was just thinking about how things are shifting so fast lately, but it looks like the US is finally getting ready to pull the plug on importing aluminum from Russia too. It feels like every time we turn around, there's another layer being peeled back in these trade restrictions, and honestly, it makes sense if you look at the bigger picture of where everything is heading. It’s all part of that massive shift in how we handle business with certain countries, and it feels like we're moving toward a completely different global setup than what we were used to even just a few years ago.
I was just scrolling through Bloomberg and stumbled onto this piece about how the US is looking at pulling the trigger on some serious measures to rein in those imports coming out of China. It’s getting pretty intense because the trade deficit is starting to look like a massive headache that nobody really wants to deal with, especially when you consider how much we rely on certain consumer electronics and everyday household stuff from overseas. They're talking about everything from slapping on new tariffs to implementing all sorts of non-tariff barriers just to try and level the playing field, which honestly feels like we're heading toward a major shift in how global trade actually functions. It makes me think about what Christian Torres3 said the other day regarding market volatility—it’s like we’re constantly bracing for the next big policy shift that could flip the script on entire industries overnight! I mean, if the US decides to go full throttle on these restrictions, we aren't just talking about a few extra cents on a gadget; we're talking about a fundamental restructuring of supply chains that have been set in stone for decades. It’s wild to think about how quickly things can change when the government decides enough is enough, and I can't help but wonder if we're truly prepared for the ripple effects this might have on our own domestic prices. Everything feels so interconnected now, doesn't it? One move in Washington and suddenly everyone from big retailers to the guy buying a new phone at Best Buy is feeling the squeeze.

It’s actually pretty wild when you dig into the numbers—it wasn't just the revenue from oil and gas exports that took a massive hit. If you look back at the data from January 2022, there was this huge, sweeping drop across basically every single revenue category in the federal budget compared to what we were seeing in January of the year before. We're talking about a staggering 28% decline across the board! It really puts things into perspective when you realize the whole fiscal picture was shifting like that.
Honestly, if I were sitting in that central banker's chair right now, I’d probably start offloading tons of gold immediately. It looks like both silver and gold have officially started their downward slide, and man, things are looking shaky.

People aren't struggling because, with the help of the West, our natural resources are being stripped away and shipped off to those same folks who send the foreign currency back our way. And let’s be honest, the reason we haven't moved forward is that we take all that hard-earned cash and immediately dump it right back into the West to buy high-tech miracles that we can only dream of manufacturing ourselves! It’s this bizarre cycle where the people refuse to give up either side of the coin—we won't stop exporting our wealth, yet we won't stop importing their gadgets. But here's the kicker, the part that really gets me: at the exact same time, everyone is cheering for us to finally show the West some teeth and completely sever every single tie we have with them. It's such a wild contradiction, isn't it?
Honestly, this behavior is just straight-up bizarre.

If you’re asking me for a prediction, I honestly believe we’re going to see Russia start looking more and more like North Korea. Now, don't get me wrong, they aren't ever going to be an exact carbon copy—Russia is just too massive, and they've had far too much exposure to Western influence over the centuries to completely sink that deep—but the trajectory is there. Just look at how South and North Korea stand today as two entirely different civilizations; from the perspective of an average person living in any neighboring country, Russia is going to seem increasingly bizarre, increasingly isolated, and just... strange. It’s going to feel like a totally different society. And just like what happened with North Korea, I suspect Russia’s policies—starting with their foreign affairs and eventually bleeding into their domestic life—are going to be increasingly dictated by Beijing. Of course, they’ll probably cling to some sort of local charm, because let's face it, every backwater corner of the world has its own unique set of headaches and absolute disasters, like an uncontrolled HIV epidemic or something along those lines. Speaking of which, while all the medical breakthroughs and life-saving miracles from the West have been "mercifully" exempted from sanctions, I have a sneaking suspicion that the real issue won't be availability, but actually being able to pay for it. I mean, unless someone in Russia seriously believes that Pfizer, Philips, Johnson & Johnson, and the rest of the gang are just handing out their products and services for free!
You know, we’re stepping into a decade where the West is going to be pouring hundreds of billions of dollars every single year into research and treatments targeting, quite literally, the aging process itself. It's wild to think about. Meanwhile, over in Russia, they're heading into a decade where the pharmaceutical and medical sectors are going to find it harder and harder just to keep pace with what was standard back in the 20th century. Honestly, it's starting to look a lot like North Korea ☕

This part is honestly the funniest bit to me. It’s the same old story constantly being pushed—that the West is trying to conquer Russia just to get its hands on natural resources. Give me a break! If guys like Abramović, Rotenberg, or Deripaska are already keeping their own workers under miserable conditions and squeezing them dry, the West just buys the raw materials at great prices. In the end, these oligarchs just take a huge chunk of that wealth and reinvest it right back into the West anyway. Forget the politics and the "great leader" fantasies—Russia basically turned itself into a Western semi-colony.
Anthony Hill5 Anthony Hill5 Regular
379 messages
joined May 2024
#8728 ·
Noah Diaz said:Look, when it comes to sanctions, they matter immensely. They dictate how Russ exports oil, gas, and other resources while importing essentials. For instance, they picked up drones from Iran, which joined the SCO last year.

The SCO and BRICS could eventually evolve into a full-blown military-economic bloc. One capable of controlling vital trade routes and resources while directly challenging American hegemony.

That is the multipolar world everyone keeps talking about.

Exactly, because for the Russians to sell oil to the Chinese, membership in BRICS is the prerequisite, just as joining NATO was the condition for Iran to purchase those drones. 🙏

The two most powerful players within this much-hyped BRICS alliance are India and China—two nations that find themselves clashing at their borders every other day due to unresolved territorial disputes.

Here is a heartwarming little story regarding the two heavyweights of BRICS from just a few days ago.

US plans measures to curb Chinese imports as trade gap concerns mount -sources

The US is considering a variety of tariffs and non-tariff measures to reduce imports of non-essential consumer and electronic goods, specifically targeting China, as trade imbalances weigh heavily on policymakers, according to two government officials and an industry source.

https://www.reuters.com/world/asia-p...es-2023-01-30/

Viva la BRICS
dustyowl29 dustyowl29 Regular
258 messages
joined Dec 2007
#8729 ·
Sure, Russians can build turbines for gas plants, but the catch for supplying the European Union was that they had to use top-tier compressors and turbines to meet safety standards. That’s why Western tech was the go-to choice.
They'll probably whip up some turbines of their own eventually—but that power line running from Siberia to China? It won't be using General Electric pumps; it'll likely be some Chinese knockoff.
Morgan Wright5 Morgan Wright5 Active Member
79 messages
joined Mar 2022
#8730 ·
dustyowl29 said:Sure, Russians can build turbines for gas plants, but the catch for supplying the European Union was that they had to use top-tier compressors and turbines to meet safety standards. That’s why Western tech was the go-to choice.
They'll probably whip up some turbines of their own eventually—but that power line running from Siberia to China? It won't be using General Electric pumps; it'll likely be some Chinese knockoff.

Actually, they can, specifically through GE Aerospace. Generally speaking, the capacity coming out of Alaska just isn't held to the same standard as something like Nord Stream, which I suppose is to be expected.
Nancy Gomez26 Nancy Gomez26 Regular
787 messages
joined Jan 2018
#8731 ·
dustyowl29 said:Sure, Russians can build turbines for gas plants, but the catch for supplying the European Union was that they had to use top-tier compressors and turbines to meet safety standards. That’s why Western tech was the go-to choice.
They'll probably whip up some turbines of their own eventually—but that power line running from Siberia to China? It won't be using General Electric pumps; it'll likely be some Chinese knockoff.

Those kinds of stipulations are usually just a way to scrape together a little profit by offloading proprietary tech. In reality, it served the Russians well; it gave them a front-row seat to how Western turbines actually operate under pressure. If anything, they should have demanded the right to service that gear locally—that’s where the real learning happens. Instead, they took the easy route. It’s much more convenient to ship a turbine back to the original manufacturer for maintenance. You become dependent on outside vendors for parts regardless, but when you let someone else handle the heavy lifting, you learn absolutely nothing.
Carl Lee27 Carl Lee27 Regular
368 messages
joined Feb 2024
#8732 ·
Carl Lee27 said:I was just thinking about how things are shifting so fast lately, but it looks like the US is finally getting ready to pull the plug on importing aluminum from Russia too. It feels like every time we turn around, there's another layer being peeled back in these trade restrictions, and honestly, it makes sense if you look at the bigger picture of where everything is heading. It’s all part of that massive shift in how we handle business with certain countries, and it feels like we're moving toward a completely different global setup than what we were used to even just a few years ago.
I was just scrolling through Bloomberg and stumbled onto this piece about how the US is looking at pulling the trigger on some serious measures to rein in those imports coming out of China. It’s getting pretty intense because the trade deficit is starting to look like a massive headache that nobody really wants to deal with, especially when you consider how much we rely on certain consumer electronics and everyday household stuff from overseas. They're talking about everything from slapping on new tariffs to implementing all sorts of non-tariff barriers just to try and level the playing field, which honestly feels like we're heading toward a major shift in how global trade actually functions. It makes me think about what Christian Torres3 said the other day regarding market volatility—it’s like we’re constantly bracing for the next big policy shift that could flip the script on entire industries overnight! I mean, if the US decides to go full throttle on these restrictions, we aren't just talking about a few extra cents on a gadget; we're talking about a fundamental restructuring of supply chains that have been set in stone for decades. It’s wild to think about how quickly things can change when the government decides enough is enough, and I can't help but wonder if we're truly prepared for the ripple effects this might have on our own domestic prices. Everything feels so interconnected now, doesn't it? One move in Washington and suddenly everyone from big retailers to the guy buying a new phone at Best Buy is feeling the squeeze.

It’s actually pretty wild when you dig into the numbers—it wasn't just the revenue from oil and gas exports that took a massive hit. If you look back at the data from January 2022, there was this huge, sweeping drop across basically every single revenue category in the federal budget compared to what we were seeing in January of the year before. We're talking about a staggering 28% decline across the board! It really puts things into perspective when you realize the whole fiscal picture was shifting like that.
Honestly, if I were sitting in that central banker's chair right now, I’d probably start offloading tons of gold immediately. It looks like both silver and gold have officially started their downward slide, and man, things are looking shaky.

People aren't struggling because, with the help of the West, our natural resources are being stripped away and shipped off to those same folks who send the foreign currency back our way. And let’s be honest, the reason we haven't moved forward is that we take all that hard-earned cash and immediately dump it right back into the West to buy high-tech miracles that we can only dream of manufacturing ourselves! It’s this bizarre cycle where the people refuse to give up either side of the coin—we won't stop exporting our wealth, yet we won't stop importing their gadgets. But here's the kicker, the part that really gets me: at the exact same time, everyone is cheering for us to finally show the West some teeth and completely sever every single tie we have with them. It's such a wild contradiction, isn't it?
Honestly, this behavior is just straight-up bizarre.

If you’re asking me for a prediction, I honestly believe we’re going to see Russia start looking more and more like North Korea. Now, don't get me wrong, they aren't ever going to be an exact carbon copy—Russia is just too massive, and they've had far too much exposure to Western influence over the centuries to completely sink that deep—but the trajectory is there. Just look at how South and North Korea stand today as two entirely different civilizations; from the perspective of an average person living in any neighboring country, Russia is going to seem increasingly bizarre, increasingly isolated, and just... strange. It’s going to feel like a totally different society. And just like what happened with North Korea, I suspect Russia’s policies—starting with their foreign affairs and eventually bleeding into their domestic life—are going to be increasingly dictated by Beijing. Of course, they’ll probably cling to some sort of local charm, because let's face it, every backwater corner of the world has its own unique set of headaches and absolute disasters, like an uncontrolled HIV epidemic or something along those lines. Speaking of which, while all the medical breakthroughs and life-saving miracles from the West have been "mercifully" exempted from sanctions, I have a sneaking suspicion that the real issue won't be availability, but actually being able to pay for it. I mean, unless someone in Russia seriously believes that Pfizer, Philips, Johnson & Johnson, and the rest of the gang are just handing out their products and services for free!
You know, we’re stepping into a decade where the West is going to be pouring hundreds of billions of dollars every single year into research and treatments targeting, quite literally, the aging process itself. It's wild to think about. Meanwhile, over in Russia, they're heading into a decade where the pharmaceutical and medical sectors are going to find it harder and harder just to keep pace with what was standard back in the 20th century. Honestly, it's starting to look a lot like North Korea ☕

It really does look like they've dipped into some gold sales just to keep covering the deficit. My guess is the big buyers are mostly everyday citizens and banks. Honestly, right now, moving your savings into gold instead of holding onto the ruble feels like the only rational move left on the board.
https://1prime-ru.translate.goog/sta...en&_x_tr_hl=X

Back in January, the Russian budget was already running a $25 billion deficit. And remember, that was *before* all the embargoes and the restrictions on oil derivatives really kicked in. They might have a little bit of breathing room left, but it’s coming, and it’s coming fast. The ruble is essentially living on borrowed time.
Thomas Stewart8 Thomas Stewart8 Member
36 messages
joined May 2012
#8733 ·
Carl Lee27 said:It really does look like they've dipped into some gold sales just to keep covering the deficit. My guess is the big buyers are mostly everyday citizens and banks. Honestly, right now, moving your savings into gold instead of holding onto the ruble feels like the only rational move left on the board.
https://1prime-ru.translate.goog/sta...en&_x_tr_hl=X

Back in January, the Russian budget was already running a $25 billion deficit. And remember, that was *before* all the embargoes and the restrictions on oil derivatives really kicked in. They might have a little bit of breathing room left, but it’s coming, and it’s coming fast. The ruble is essentially living on borrowed time.

In a country like that, I wouldn't be shocked if certain groups "accidentally" ended up at the top of the list of preferred customers... You know, just so they can be taken care of if things start to go south.
Bryan Booth82 Bryan Booth82 Regular
483 messages
joined Feb 2024
#8734 ·
Carl Lee27 said:It really does look like they've dipped into some gold sales just to keep covering the deficit. My guess is the big buyers are mostly everyday citizens and banks. Honestly, right now, moving your savings into gold instead of holding onto the ruble feels like the only rational move left on the board.
https://1prime-ru.translate.goog/sta...en&_x_tr_hl=X

Back in January, the Russian budget was already running a $25 billion deficit. And remember, that was *before* all the embargoes and the restrictions on oil derivatives really kicked in. They might have a little bit of breathing room left, but it’s coming, and it’s coming fast. The ruble is essentially living on borrowed time.

Now you start to see the sheer brilliance of Western sanctions; they’ve effectively backed Russia into a corner where they are forced to slash the prices of the very resources they rely on to survive.

Because their top-tier customers in the West have drastically cut back on purchases, Russia is being forced to dump its resources at rock-bottom prices. This creates a massive hole in their budget, which causes them to sink even deeper, forcing them to liquidate whatever precious reserves they have left just to stay afloat.

If you ask me, we are going to be witnesses to a total systemic collapse over the next few months—both economically and militarily.
Best regards,
electricsurfer47 electricsurfer47 Active Member
177 messages
joined Jun 2018
#8735 ·
Bryan Booth82 said:Now you start to see the sheer brilliance of Western sanctions; they’ve effectively backed Russia into a corner where they are forced to slash the prices of the very resources they rely on to survive.

Because their top-tier customers in the West have drastically cut back on purchases, Russia is being forced to dump its resources at rock-bottom prices. This creates a massive hole in their budget, which causes them to sink even deeper, forcing them to liquidate whatever precious reserves they have left just to stay afloat.

If you ask me, we are going to be witnesses to a total systemic collapse over the next few months—both economically and militarily.
Best regards,

What do you guys think would happen if Russia ditched the ruble entirely and started using gold as their main currency? Just thinking hypothetically here... would gold end up being more stable than the ruble? Probably, right?

People have been talking about gold becoming the go-to currency for ages, which is probably why so many countries are hoarding it in their reserves.
Bryan Booth82 Bryan Booth82 Regular
483 messages
joined Feb 2024
#8736 ·
electricsurfer47 said:What do you guys think would happen if Russia ditched the ruble entirely and started using gold as their main currency? Just thinking hypothetically here... would gold end up being more stable than the ruble? Probably, right?

People have been talking about gold becoming the go-to currency for ages, which is probably why so many countries are hoarding it in their reserves.

Anything is possible, really. Right now, it feels like Russia is just scrambling to "put out fires." Honestly, I can't wrap my head around what they’d actually gain by forcing gold into the payment system, or how on earth they'd make that functional in a modern economy... but let's be real: even if they did, it wouldn't touch the deficit, which is only going to keep ballooning over time anyway.
Best regards,
John Ramos45 John Ramos45 Active Member
73 messages
joined Apr 2023
#8737 ·
We really ought to start stockpiling now, because things are only going to spiral downward as current Western sanctions tighten and new ones inevitably follow.
analogbear5 analogbear5 Regular
571 messages
joined Aug 2019
#8738 ·
electricsurfer47 said:What do you guys think would happen if Russia ditched the ruble entirely and started using gold as their main currency? Just thinking hypothetically here... would gold end up being more stable than the ruble? Probably, right?

People have been talking about gold becoming the go-to currency for ages, which is probably why so many countries are hoarding it in their reserves.

Gold wouldn't replace the ruble—paper would. We'd just end up with notes saying "promising gold payouts."

The people who already hold the gold would basically become a new upper class, just printing more paper that says "promising gold payouts plus interest" and making the little guy sign for it.

And obviously, the amount of gold promised on all those papers would be way higher than the actual physical gold sitting in the vaults.
Nathan Thomas12 Nathan Thomas12 Regular
265 messages
joined Apr 2022
#8739 ·
Bryan Booth82 said:Anything is possible, really. Right now, it feels like Russia is just scrambling to "put out fires." Honestly, I can't wrap my head around what they’d actually gain by forcing gold into the payment system, or how on earth they'd make that functional in a modern economy... but let's be real: even if they did, it wouldn't touch the deficit, which is only going to keep ballooning over time anyway.
Best regards,

Let that deficit run wild, see if I care. ☕
Nancy Gomez26 Nancy Gomez26 Regular
787 messages
joined Jan 2018
#8740 ·
analogbear5 said:Gold wouldn't replace the ruble—paper would. We'd just end up with notes saying "promising gold payouts."

The people who already hold the gold would basically become a new upper class, just printing more paper that says "promising gold payouts plus interest" and making the little guy sign for it.

And obviously, the amount of gold promised on all those papers would be way higher than the actual physical gold sitting in the vaults.

That bolded part is the core concept. When actual money—real value—is swapped for colorful paper, they claim it's just because paper is easier to handle than heavy metal. That’s the convenient lie. This is the true motive. Once a currency is uncoupled from its obligation to be backed by the only true form of money, there are no limits. Only the user's trust remains, and we all know how fickle that can be.

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