Ask HN: Why did the ruble stabilize and what's going on?

Post by philwelch » Sat, Apr 23, 2022, 11:08 PM UTC

hypertele-Xii wrote: post #137

philwelch wrote: post #123

Earlier quoted context omitted.

I think that’s what a silent majority of reasonable people might think, but there is still a ton of indiscriminate anti-Russian bigotry going around.

Quoted post unavailable.

Post by russiano » Sat, Apr 23, 2022, 11:21 PM UTC

CamperBob2 wrote: post #133

russiano wrote: post #109

Earlier quoted context omitted.

> do you feel that the Russians have started to detest "West" more? It's certainly true for me and a few more people that I know. I used to be a cookie-cutter west-loving liberal, and now I'm slowly turning into a bitter vatnik. One of the things that made me change my mind (aside from diving deep into the history of the conflict after which many things started to make sense) is seeing how petty and ridiculous sancti…

I appreciate your perspective even though I disagree with it, and I'm sorry that you're being flagged and downvoted for posting what amounts to your opinion. Having said that, I'm curious: what does the Russian public education system teach you about Hitler and the events leading up to WWII? Here in the US, we are taught that Hitler first threatened, then proceeded, to invade his country's neighbors. His rationale: w…

Post by brnt » Sat, Apr 23, 2022, 11:28 PM UTC

lionkor wrote: post #73

jupp0r wrote: post #31

Supply and demand. 1. Capital controls. Russians are legally not allowed to sell their Rubles anymore. This decreases supply and keeps prices up. 2. A healthy dose of foreign currency ($1B/day from Germany alone) gives the Russian central bank plenty of tools to buy Rubles and increase demand for it to keep prices up. This does not mean that the existing sanctions aren’t working. Eventually Russian factories will run…

Issue is that only the west is sanctioning them, not e.g. China. By sanctioning them we are just strengthening the Russia-China, India, etc. relationships. To think the world relies on the west to a point where its existential is a bit excessive, in my opinion

Post by brnt » Sat, Apr 23, 2022, 11:39 PM UTC

burntoutfire wrote: post #132

gutitout wrote: post #78

I’m surprised I haven’t seen the right answers here yet, so I will chime in. 1. Russia produces 12% of the world's oil and has a similar share of global oil exports. [0] Those purchases are now being made in Rubels.[1] This was a direct retaliation to the USA and European sanction efforts. Before this oil was universally exchanged in USD or EUR. This has helped prop up the Rubel. 2. Russia moving back to a gold stand…

> The Rubel is going to be pinned to the Gold standard. This makes the Rubel incredibly attractive as it can be a stable currency and easier to purchase than Gold itself The Rubel can be just as easy "unpinned" from gold on any given day by a politician's decision and that's absolutely something you can expect from Russia.

Post by russiano » Sat, Apr 23, 2022, 11:43 PM UTC

orochi235 wrote: post #143

russiano wrote: post #109

Earlier quoted context omitted.

> do you feel that the Russians have started to detest "West" more? It's certainly true for me and a few more people that I know. I used to be a cookie-cutter west-loving liberal, and now I'm slowly turning into a bitter vatnik. One of the things that made me change my mind (aside from diving deep into the history of the conflict after which many things started to make sense) is seeing how petty and ridiculous sancti…

What's the alternative, though? The leader of your country is terrorizing Europe in ways not seen in almost 80 years. We all know all-out war between nuclear states is not an option, so what should Western nations do? Just sit back and ignore the indiscriminate war crimes? It's ironic to me, given how clearly Putin's worldview presumes that power is all matters, how quick Russia has been to cry foul over sanctions. I…