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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?
But the Brics bank's reserve resources are in dollars. One thing are future projects another thing is reality
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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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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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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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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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so true...
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