The partial restructuring of the economy in a war economy continues to drive up inflation in Russia. It is currently running at between 8 and 9%. As a result, the Russian central bank is combating price rises with a key interest rate of 21 %, an increase of 100 basis points announced today. Will the rouble, as one of the most important currencies in the BRICS currency basket, become a burden right from the start?
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47 sats \ 2 replies \ @7e6e393a56 25 Oct
But the Brics bank's reserve resources are in dollars. One thing are future projects another thing is reality
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0 sats \ 1 reply \ @TomK OP 26 Oct
That's why they're shifting toward gold. They need to further eliminate the USD dependence. With the russia sanctions the Euro lost its importance for example
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0 sats \ 0 replies \ @nym 26 Oct
Yep
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47 sats \ 3 replies \ @Satosora 25 Oct
Inflation is the only way they can take advantage of the brics.
If they can print more without the other countries noticing, then they are winning, right?
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30 sats \ 2 replies \ @TomK OP 25 Oct
But in that way the Ruble loses internal purchasing power and external credibility wgich is crucial if You want to build a trusted ledger system
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21 sats \ 1 reply \ @Satosora 25 Oct
You cant trust those countries in any way.
They are going to stab each other in the back as soon as they can.
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0 sats \ 0 replies \ @jk_14 26 Oct
so true...
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