Comments by "Nattygsbord" (@nattygsbord) on "Counterfeit Russian Rubles - HARBINGER - Russian Economic Great Depression?" video.

  1. The Confederate war economy is fun to study, because it is the perfect example to study on how to not design a war economy. They burned up all its piles of cotton on the beginning of the war before the northern blockade had become effective. The idea was that this would create worldwide cotton shortages and Britain would then be forced to join the war on Souths side. But that never happened, but instead did Britain start growing cotton in India, Egypt and elsewhere. And the south never got any export revenues for all the cotton they destroyed. They also refused to raise any war taxes which could have created a better balanced budget and it would have reduced inflation. But it rather pleased rich people than taxing them to take all chances of letting the Confederacy win the war. And the need for money for the military was fulfilled by money printing rather than war taxes.
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  2. Reminds me a bit of the opioum wars. I am not saying I support this idea. Because I do not of course.
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  3. As David Graeber points out in his book debt the last 5000 years, are credits an older innovation than money. Barter economies mostly only exist in the fantasy land of theoriticians like Adam Smith, and not in the real world. Say that I got a nice book you want but all you have to offer me is a smelly t-shirt that is not in my own size. Then we have a double-coincidence of wants problem. A problem economists say is difficult to solve without money. But that is just nonsense. We can behave like the natives at Borneo or the Amazon jungle that don't have money. I see that you like my book, and I give it to you. And then you can walk back to your own village as a happy man. And a few days later I come and visit you and I look at your possessions and take out something of roughly equal value to the book I gave you. I then say "nice dinner plates you got". And you say "you like them? then you can have them! I want you to take them my friend. That is the least I can do for someone who gave me such a nice book!". So what we have done here is not really barter. I gave you a loan. And you repaid that loan when you were able to do so, and when you had something to offer me. And nor did we need any money to make these transactions with each other.
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  4. I really cannot understand Putin. I get angry on him. Why didn't he cut all ties with the west earlier so the russian economy could have grown faster all those years under his rule? And why do he want the sanctions lifted now? Are he crazy? That would only result in a lower GDP growth. So its better to just let the sanctions stay.
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