Comments by "Nattygsbord" (@nattygsbord) on "Russian Ruble is Not Money" video.

  1. No one here in the EU notice much of this war. Its more Putin that cries that the western sanctions (which he claims are 100% ineffective) must end.
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  2. And yet is the rouble falling in value compared to the dollar. And not just a little bit. I mean it falls like a stone dropped from an airplane. In places like Bankok you need something like 290 roubles for every 1 dollar you wanna trade
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  3. With what? Bitcoins? World of warcraft gold? Super Mario coins?
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  4. The Russian currency will fall as global demand for it has fallen. And because of all the sanctions have imports of production imports become more expensive, that leads to higher prices. And a higher price level is the same thing as what economists call inflation. There are no willingness to invest in russia. For ethical reasons. But also because the russian state is in economic problems and if you lend out money to it you might not get repaid. And then there is this problem that opening a factory in Russia is risky because the government can just all of sudden decide to steal your factory from you - like what happened to Carlsberg - so then what reason will there be to invest in russia? Russia might also wanna pay for their war with their printing press as raising taxes is unpopular and lead to deflation, and russias savings are running out, and borrowing money is difficult when you are kicked out from the SWIFT agreement and have to pay higher interest rates for all money that are being borrowed. Of course will it always be possible to borrow money, but the question is always at what interest rate? If you begin say borrowing money for 500% interest rate after two weeks has passed, then you have just created a bigger hole for yourself when you tried to get rid of a hole in the ground.
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  5. Exactly. The vodka rouble will replace it.
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  6. Bitcoins will be the new global world reserve currency one day. Its basically just like World of warcraft gold and Supermario coins.
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  7.  @rmondave  Yep. Source: Russian governments own made up fake statistics.
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  8. It all dependends on the time horizon I think. Any economic prediction is useless if you do not say when a thing is going to happen. And yes a countrys economy might crash, a housing bubble might go bust... but it could take much longer time than predicted, because political interest groups can try to manipulate the system for as long as possible to prevent the russian economy from falling. For 2 years have russia been able to do just that. The question is for how much longer they can continue like this. Personally do I think this cannot go on forever.
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  9. so far
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  10. That definition of money are old outdated and useless. It is also highly impractical and harmful to economic development as an economy needs an expanding money supply. I also do not take for granted that things said have any intrinsic value of its own. In the past was dog teeths used as money, but today I highly doubt anyone would see much value in them. And things can also go the other way around. In the past was uranium just useless rocks laying on the ground, before someone invented nuclear power and uranium became useful and valuable. Today are most money just digits on a computer. And like with all else is it supply and demand that determines the price of a Dollar, Yen or a Pound. You can create trillions of US Dollars and that currency is still valuable worldwide. But if you create trillions of Zimbabwe dollars you get inflation because there are no strong global demand for such money.
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  11. We are not talking about value, we are talking about price. A bucket of coal is valuable regardless if you paid 5 dollars or 15 dollars for it. That coal is equally useable for barbeque regardless how much you paid for it. And that is its value. While the number of money you paid for it is the price. Fiat money itself got no value, it only got a price - and that price is how much other people is willing to pay for it.
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