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But what about your followers???Me until spring bear season is done. This place is getting strange…
Keep hammering.But what about your followers???
I saw that, but have no idea what it means.A twist - will be interesting how this plays out in practice.
Vladimir Putin Wants Europe to Pay for Gas in Rubles
Russia will refuse to accept payment for natural-gas supplies in currencies “that have compromised themselves,” including dollars and euros, the Russian president said.www.wsj.com
I don't think anyone does. Putin seems to think it will prop up the value of rubles as they will have to be bought with dollars/euros, but I am not sure how that will work given the banking sanctions. Also, not sure this makes Mr. Xi happy, as he will want dollars and euros (not nearly worthless rubles) in payment for the stuff China sells them and this makes it harder for Putin to get dollars. Maybe Xi & Putin just go old-school barter and exchange oil for manufactured goods without fiscal intermediary.I saw that, but have no idea what it means.
just speculating, Eu will have to buy rubles to pay for gas thus supporting the value of the ruble?I don't think anyone does. Putin seems to think it will prop up the value of rubles as they will have to be bought with dollars/euros, but I am not sure how that will work given the banking sanctions. Also, not sure this makes Mr. Xi happy, as he will want dollars and euros (not nearly worthless rubles) in payment for the stuff China sells them and this makes it harder for Putin to get dollars. Maybe Xi & Putin just go old-school barter and exchange oil for manufactured goods without fiscal intermediary.
Frankly, I am surprised they haven't jacked the price of gas to Germany or disrupted flow at times to make it a pain in the butt.
Problem is that their use of rubles and dollars are both constrained by the sanctions so while the theoretical effect is as you say, the practical effect may be much different.just speculating, Eu will have to buy rubles to pay for gas thus supporting the value of the ruble?
The ruble is close to being where it was at this time last year .013 vs 0.10/dollar March 21 to March 22
Problem is that their use of rubles and dollars are both constrained by the sanctions so while the theoretical effect is as you say, the practical effect may be much different.
If EU needs gas and Russia demands payment in rubles who is constrained?Problem is that their use of rubles and dollars are both constrained by the sanctions so while the theoretical effect is as you say, the practical effect may be much different.
Where do they then use these rubles and why do they need them? They can already print more of their own and nobody else wants them now.If EU needs gas and Russia demands payment in rubles who is constrained?
If the last 2 years have taught me anything it's that we need micro to be part of the core curriculum of us high schools.Where do they then use these rubles and why do they need them? They can already print more of their own and nobody else wants them now.
As for the dollars they would get from those that purchase the rubles in the first place, where can they spend their dollars in light of sanctions?
How does this help them any more than getting the same dollars directly from oil sales?
It seems like sixth-grade econ S&D curve thinking trying to solve for a graduate-level problem on Putin's behalf.
But who knows - we are in fairly uncertain territory.