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Russian Hyperinflation Deja Vu?
Presented with little comment aside to ask... just how many lives does a Russian Ruble have?
Note: The Russian Ruble has devalued against the USD over 11% in the last few weeks (at an annualized pace of 91%)...
h/t Steve Hanke and @Not_Jim_Cramer
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Worry a lot more about our leadership and currency value!! That's critical! There should be a public debate about our Socialization and federalization that's killing us with its scope and cost.
Russia is cash starved and gas/oil for gold does not really make sense for their economic situation.
The logistics of using gold as a currency will not work for Russia, they need cash to stay afloat on a daily basis.
Cash flow problems kills more companies and countries than anything else, the bad news is when a country is desperate they tend to do stupid things.
Would you want a promissory note for your gold to be held by Putin? Neither would the rest of the world.