RUSSIAN Ruble Dead as a Global Currency

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In December 2023 the USA clamped down on Chinese and Indian financial institutions making and receiving payment to and from Russia. The risk of Secondary Sanctions has reduced the amount of payments being processed and this has now been made worse by the clampdown on smaller institutions announced in June 2023. This has resulted in Russia struggling to receive and make payments and this is now damaging the Russian Economy. In addition countries are refusing to deal in Rubles meaning that it is now DEAD as a Global Currency. In this video I provide more details and discuss the problems that Russia is now facing.

No need for CHAPTERS as this is a short beach based video!

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#russia
#russiaukarinewar
#ruble
#ukraine
#uk
#pricecap
#GLOBALFINANCIALCRISIS
#RUBLE
#SWIFT
#RECESSION
#CHINA
#USA
#NATO
#WW3
#WORLDWAR3

[robertroy]

To talk that long, in a clear, logical manner, without breaks or a teleprompter, is impressive.

[wilderbeestmcc]

How to destroy your economy… 1) Create a phantom enemy to consolidate your power and divert the population from domestic issues 2) Attack your neighbour to try and galvanise support. 3) Try and blackmail your best and most reliable customers into submission to you demands 4) Gross miscalculation of outcome and become completely isolated and have all your foreign held assets frozen…..Pure genius 😂😂😂😂👍🇬🇧

[winterknight]

Joe, there was a BBC news article yesterday "Malaysia tracks down missing oil tanker which fled after collision" where they suggest the tanker is 'part of a so-called 'dark fleet', carrying oil from countries under sanctions.'

[Matthew-wnoq]

The rubbish ruble has NEVER been considered an international currency.

[x_hibernia]

It's true because someone was selling ruble toilet paper and pootie caught wind of it and banned it outright.

[cawstongreenway]

I really don't understand why there isn't widespread panic in Russia. It seems almost comical that a country could damage itself so badly in every way possible, and the bloke in charge is still there.

[donaldcarey]

The Ruble USED to have value - during the toilet paper shortage during the bug pandemic - but no longer.

[bigdada]

Blessings, peace and luck from California to Ukraine. 🙏🙏☮🍀💛💙

[Thunder_]

Joe, I'm glad you're enjoying success. The Ruble is now rubble. Russia has become an orphan/has been in the western community.

[robnelsonbayvillage]

Joe, love your work. Yes, being outside is good. Wearing shades is fine. Delighted to hear that Putin faces financial challenges. His war against Ukraine is unforgivable. Keep up the wonderful work. Rob in Tennessee, USA.

[peterpan]

I can still remember the reports from Russia saying that the dollar was dying and that the BRICS states were launching a currency that would then take the place of the dollar as the world currency. When will this finally happen, on the first of April?

[gregash]

I think you nailed it! The recirculation of the same Rubles to purchase war related goods and services in absolutely crazy. It's like a bankrupt casino recycling the same old poker chips without the option of cashing out. Secondly, with the production shift to war goods, what products does Russia expect to sell to the world if and when the war ends? If the military is trying to buy back arms previously sold to third world nations, who will need or want to repurchase poor quality Russian arms in the future? Russia is now become the 'Banana Republic' of fossil products and nothing more.

[kimberlysheridan]

I have a modest suggestion: I read Hungary under Victor Orban is also having inflation problems. Is that true? Perhaps an episode on Hungary may be enlightening for some here in the United States who thinks a strongman government is good for the economy.

[nick]

Russia just banned 'ruble printed toilet paper' - true story (source: Jake Broe)

[Hongaars]

Do NOT squint in the bright light. Protect your retinas as mush as possible. You are doing a wonderful job, nobody else has explained the economics of the Ukraine invasion better than you do. Thank you once more

[myplane]

What this all means is that the sanctions are finally starting to do the damage we have been waiting for... Good to hear.

[TomTom-hjnq]

You re getting better by the day Joe !!! Enjoy your vacation in Spain !!! Tom from Munich

[phenri]

Since when did being early in the morning stop Brits from drinking?

[ericpaulhus]

Ask Cubans how they feel about a "dead currency"... the Cuban Peso cannot be exchanged anywhere...

[iivarilappalainen]

its mind boggling there are still people doubling down on the opinion that everything is great in russian economics.