Why the Russian Ruble Will Cause a Great Depression in Russia

Money is the second half of every transaction. This means that if the Ruble begins to falter, I think it will. We will see something unfold in the Russian economic space known as the Great Depression. The strange thing is that they will not even know it is coming because, like all financial crises, people have imperfect information.

[@Brasidas69]

"Money, the second half of all transactions." - a great and compact phrase.

[@grantp4022]

The Ruble will continue to decline as this conflict continues. Good video.

[@robsin7406]

Keep up the great work my friend and fighting the good fight 💙💛🤘

[@EconLessons]

Thank you Rob sincerely.

[@Jimmer3035]

Hell yes... I concur

[@alhambrabiker1476]

@@EconLessonsthank you for your videos! Glory to Ukraine!

[@israelvaldivia2686]

​@@EconLessonsyou're ignoring the fact that the US dollar is losing it's value with the more treasury bonds it prints out. Also the incentive for other countries to move away from the dollar to avoid sanctions and countries like Russia and China are selling their US bonds and stocking up in gold which will only speed up the process.

[@israelvaldivia2686]

​@@EconLessonsyou do realize Russia is still trading with the EU through India right? Let's not forget the increased imports of Russian oil into China. Russias GDP has gone up almost 3% and remains the top 5 largest economy based on PPP with one of the lowest debts in the planet. The sanctions and world conflicts have only hurt the west and have strengthen the rest of the world.

[@BAJaney]

Dude. You should be getting a lot more views than you are right not. Really interesting stuff.

[@Kenneth_James]

He will. Give it time.

[@user-jr4uf1dc9k]

Spread the word and help mark. Thanks.

[@KiraNt4]

His stuff is interesting but not true, that's why people in the know don't watch him

[@Demour77]

@@KiraNt4 Hi, out of curiosity is there a clear marker for that outlook on his content?

[@KiraNt4]

@@Demour77 Of course. You can either read some serious articles in prestigious magazines or, at least, watch overviews of Russian economy on channels with good reputation, preferably European, as they are more invested in the whole situation and has less propaganda (They are more factual and less emotional than American ones). Personally, I recommend German and French ones, which are in English. I would write their names but am not sure if it is allowed. The general conclusion is that Russian economy managed to withstand sanctions much better than expected due to different factors. One of which is its entrepreneur spirit and its ability to quickly adapt to new circumstances, which is the complete opposition to what the author of this video claims.

[@crissdizick9403]

It's probably the best and most informative KZbin channel on the planet. I look forward to every single video you release. I always like, comment, and watch the commercials. Your worth it.

[@EconLessons]

Thank you sincerely Criss.

[@johnm7267]

You must be gullible to believe all that rubbish. I understand he is reinforcing what you want to believe but it is easily discounted

[@e3IPKA]

And against such a gorgeous background, too!

[@zulubeatz1]

I agree. I am becoming a regular viewer too.

[@drmodestoesq]

@@johnm7267 Beautiful....we are waiting for your "easily discounted" analysis of his prediction.

[@ericwillis777]

I really hope you'r right !

[@EconLessons]

Hold on to your hat you will see.

[@patrickmihajlovic4112]

You can save your "hope" for uncertain wishes and dreams, my friend. This is about hard monetary laws whose effects, whether good or bad, have been tested, observed and *DOCUMENTED* for millennia! Nothing is as certain as the laws which, in the case of the monetary economy, are based on human greed!! You can *ABSOLUTELY* rely on them!

[@GeraldBeagan-ee6se]

Won’t the Chinese prevent their collapse, like they have been helping with trade so far?

[@ericwillis777]

@@patrickmihajlovic4112 I hope you'r right as well !

[@56585656587]

I can’t imagine that if you take a country and turn 50% GDP on the warpath and are unable to exchange money goods or services with any other country besides for other closed economies which trade with no one else you could get in trouble. just look how well North Korea has turned out.

[@lovealien43]

I understand your argument like this: The value of the rubel is based on belief. It is not backed by a valid promise to exchange it with gold. There is not much trust in the rubel. At some point people will not believe in any significant value of the rubel. Then it will not be useful for economic transactions within Russia, their economy will be in deep trouble.

[@kenofken9458]

The value of the ruble is not rooted in reality. Strong currencies are strong because free markets actually value their strength and stability. Nobody buys rubles because they want to park their wealth in rubles. They buy them because they are forced to. Companies cannot offshore much of their wealth legally, so they are bound to stay and use Rubles which will erode and can lead to total confiscation of their assets if Putin ceases to like them.

[@fdllicks]

Finally, an intelligent person on youtube. Where have you been all my life.

[@lengerer]

The Ruble is basically Russian bitcoin

[@fdllicks]

@@lengerer people complain that bitcoin is not based on anything. But they forget the US dollar is also not based on anything! just faith.

[@amg5656]

@fdllicks That is absolutely incorrect: the dollar is backed by the US federal government’s ability to raise revenue in the form of taxes. Plus, the US can also generate cash flow by selling assets, raising debt, and generate revenue from landed assets, such as resource extraction permits. This, in combination with the fact that the US is the strongest economy in the world, gives the dollar extremely strong backing. That is one of the main reasons why (surprise surprise) it’s the most widely held reserve currency. No one would trust it in that role if the situation were as you say. Bitcoin, by comparison is truly supported only by people’s perception. The are absolutely zero tangible assets backing it.

[@AbdulHannanAbdulMatheen]

👏🙂 Great video. I've never found someone explaining complex economics in such an understandable manner. Keep up the amazing work

[@multipl3]

''The ruble isnt real money'' Absolute spitting facts!

[@patrickmihajlovic4112]

"....or would *YOU* took Rubel in exchange for your Dollars" !??? 😂😂😂😂

[@bikechainmic]

@@patrickmihajlovic4112 ruble worth less than second hand toilet paper!

[@johnm7267]

And the dollar is real money? It is being printed by millions of dollars everyday to pay off the interest on 33 trillion dollars debt. This is the main cause of inflation in the world and the cause of recession in Europe. Listening to this so called expert will lead you astra. My English nephew is married to a Russian and Russia is nothing like these propagandists say of which he is one. The main financial experts in the world are the IMF, the World Bank, Goldman Sachs etc. and they predict that the Russian economy will do quite well so this guy ups and says they don’t know what they are talking about about

[@mitchyoung93]

Except it is. China is accepting rubbles in payment for goods, and then exchanging them back.

[@taniadavenport2939]

@@bikechainmic kzbin.infoq0nEvP8vws0?si=CvJ0IWgTOKo_fNyx

[@midwesttraveler2485]

As an American living Ukraine, this makes me smile. 👍

[@EconLessons]

Ukraine is a great place to live and it will be better, I would live there.

[@midwesttraveler2485]

@EconLessons Yes it is. I've been here for 5 years. I'm also a US veteran.

[@toddbowles8201]

I also live Ukraine. I love the people.

[@Tyler-wl8kq]

Stay safe and strong the world is behind you even though it might not feel like it sometimes

[@midwesttraveler2485]

@@Tyler-wl8kq Thank you 😊

[@TheGazmondo]

Nothing short of fascinating, a real education in how the markets work. Thanks

[@uranium_beaver]

To summarise: don’t put all your resources in “special military operation”, especially if you’re poor af to begin with. Simple and effective advice. Thank you.

[@jrgenberthelsen2371]

Thanks for great information👏👏👏🇩🇰🇺🇦🇺🇦🇺🇦

[@hawklord100]

Oil down yesterday and new explosions at an oil refinary and the ruble slipping again to toilet paper value

[@truthseeker6116]

Keep them coming, Mark, learning a lot from your videos thanks.

[@philipcovell3272]

From my experience the IMF and many economists never see it coming until it has happened and then they explain why it did. Too late of course. In Russia it will be the economy which will stop this war.

[@uranium_beaver]

Sadly it will only limit their capabilities. Historically they are more likely to starve their population than abandon conquests.

[@EhEhEhEINSTEIN]

The almighty algorithm recommended me this video. Haven't watched any others yet but already subscribed. Thank you in advance for all of them that I will be catching up on shortly.

[@craigchristie404]

Thanks

[@johnnygreen1376]

I really like your videos, and the outdoor format. Living in England, the weather isn't always suitable here 🤣 Keep up the good work.

[@EconLessons]

Thank you I have more fun than sitting in my office.

[@stephenoneill245]

I live in Germany. It rains here too - hasn't stopped since Xmas. On holiday, I went to Lake Garda a few years ago - it rained. Next year I went to Madiera. It rained there too. I went back to Italy, this time to Verona, played a bit of golf - rainstorm. Ducks swimming in pools on the greens. English weather is no better or worse than most places.

[@SuperMagnum2011]

Great report. Very interesting. thank you . Glory to Ukraine.🇺🇦

[@EconLessons]

Thank you sincerely.

[@diegoyanesholtz212]

Do you see the Northern Caucus Republics will declare independence from Russia, and what about Tatarstan, Barshkortostan and Tuva? I see Republics in Russia wanting to separate from Russia.

[@nicolasolton]

​@steven-gd6hpDon't you think life for Russians would be better now if Boris Nemtsov was in charge?

[@SuezWSuezW]

@@nicolasolton Hard to say since the poor man has been dead for nearly a decade.

[@nicolasolton]

@@SuezWSuezW That is correct. But it isn't unreasonable to speculate that he would have run Russia much better than the old chekist Vova putin. That's what happens to anyone who might threaten putin politically. Putin is destroying Russia.

[@smallpeople172]

Most likely the regions with non-Russian ethnicities like Chechnya, Bashkiria, buryatia, the autonomous republics, etc will all break away asap.

[@nicolasolton]

@@smallpeople172 Yes, and regions rich in resources like hydrocarbons and metal ores are likely to be fought over, as Moskow will not want to lose access to the massive wealth that they earn from the sale of such resources...

[@aaronmicalowe]

I'm not an economist but this came onto my radar over the last 8 months and it's going to be very interesting to see if Russia living in the middle ages again changes anything for the good.

[@iivarilappalainen9836]

Politically it's already feudal country..

[@toby9999]

Seems as though Russia has always been a trouble-maker. It has no other purpose.

[@taniadavenport2939]

Mixed up with USA? Kensington Ave, Philadelphia is not troubling you? 100 000 a year killed in USA … not by Russia trouble maker but by made in America drug overdose! Homeless camps in California … Russia is to blame? Expansion NATO in Europe when in 60s USSR tried to put rockets on Cuba and USA threatened with WW3 , but is ok to put rockets NATO to close boarders with Russia?

[@bbmduterte5348]

Thank you for sharing your knowledge

[@ksmeyran8759]

I learning so much, thank you!

[@AquariumRuss]

The West needs more teachers like you, Comrade Sodomsky!

[@lordaizen8004]

This video aged well!! Just found your channel!! You rock and your garden looks awesome!! Subscribed!!

[@benthead]

Thank you for your insight. I will continue to watch your videos.

[@andrewwarren4206]

Hey I learned something again. Cheers Mark. Slava Ukraini.

[@ale1022]

Excellent analysis- thank you.

[@ehawolczecki8759]

Thank you.

[@magus1978]

Love it. Thanks.

[@ronsweeney5898]

Excellent explanation. Thank you.

[@NickBZ]

Thank you for your simple, yet powerful situation analysis

[@nicolaecampan2385]

Awesome channel, i subscribed and am a big fan! You deserve ALOT more audience, thanx and cheers!

[@D.von.N]

RuSSia would be better off if it was more self sufficient in most production. But Pootin got himself into the corner when he forgot he needed the west more to run his lifeline (oil and gas) industry, than the west needed his oil and gas. But that was already discussed in the past. Just reminded mysel that the supposedly genius and master strategist miscalculated just a few steps ahead. Everything goes according to... laws of nature.

[@fdllicks]

Yep, venezuela had same problem.

[@fdllicks]

I read that the oil and natural gas industry now uses a great deal of computers to control pumping. These computers need updates. The updates are forbidden under sanctions. So after 2-3 yrs, machines stop working. In theory.

[@ApeAlchemist]

Good stuff sir! TY!

[@kralikkral5560]

You were absolutely right - we just see it. I am also national economist, and I knew that you are right, but most people probably think that it is all only wishful thinking. Now they are beginning to see the reality.

[@semiuniversal]

Not only is this genuinely interesting and insightful content but, to my astonishment and delight, you just referenced my favorite (and really obscure) metaphor from the original Star Trek series. Subscribing!

[@nemosthlm]

Tack!

[@EconLessons]

Thank you sincerely Nemo!

[@psansom]

Brilliant thanks

[@mikesalvaggio20]

This is my new favorite channel . Wow this is fantastic content

[@paologaiba3179]

Clever professor.

[@toi_techno]

When my father visited Soviet Poland there were shops that only took "hard currency", which was really just a euphemism for dollars. Only foreigners and the rich thugs who ran the place could afford to shop in those shops. Dad said the stuff in normal shops was inedible crap in tins.

[@crystalbluepersuasion1027]

Thanks for another informative video.

[@patrickmihajlovic4112]

Thank you for breaking down this complex topic in understandable parts ! SUBSCRIBED and thumb up ! 😊 (Comments are *PRICELESS* also 😅)

[@marcosmartinez6249]

Very informative, thanks for your hard work

[@stephenbrown9998]

Good one

[@identiybodega]

great stuff

[@spendor9377]

Another great vid. Big well done from me. Always fascinating and insightful ✌️👊✨

[@ginamurray711]

😊 just found your channel. Loving it!

[@k98killer]

Interesting and sensible thesis.

[@tybeedave]

thanks

[@dlmsarge8329]

Both you and Peter Zeihan have beautiful natural back drops for your videos, but the difference is you know what your talking about. 😊

[@user-wc6yn9sp6j]

One is a CIA/NSA Biden Neo-Con Hack ... and the other isn't

[@justinwolf7490]

Great insight. Where do you live? That Forrest is awesome. I’m guessing your accent is kind of New Jersey or Indiana? I might be off but I’m just guessing. Thanks for video.

[@trey85031]

He lives in Florida, not sure where in Florida though

[@bigolboomerbelly4348]

Sunshine State home of Gatorade

[@concernedrabbit9075]

Florida

[@EconLessons]

Somewhere off the Grid... Yes North East Florida.

[@Dennan]

i love your videos, you got yourself a new sub, your analyze is super interesting, i hope your channels grows, you deserve it.

[@EconLessons]

Thank you Dennan

[@freefoodsss]

Nice Job with defining money.

[@DerDop]

As someone that had lived in Russia for a long period of time, I'm laughing at the Americans simping for Russia and rubles :)) Russians ARE OBSSESED WITH DOLLARS, EUROS AND SWISS FRANCS!

[@EconLessons]

People take Dollars, Euros and Swiss Francs in Russia any day of the week. They are good hedges for the next collapse of the Ruble.

[@gwills9337]

@@EconLessonsyes but they will take USD over yuan or shells because it’s the global reserve currency. So it’s a distinction without a difference

[@mitchyoung93]

It's not the Russia of the 90s.

[@DerDop]

@@mitchyoung93 you’ve clearly clueless about Russia:))

[@philognosis6409]

Maybe until Western countries stole their money.

[@stevangucu522]

All that you said about Russia is very valid about Serbia. Dinar also doesn't have a real value. The exchange says 117 din for 1 euro 10 years in a row, but the prices doubled, and the real price would be 250-300 to 1.

[@romkahehe]

The way you pronounce "Rrrrouble" makes my day

[@bbmduterte5348]

Totally agree with you because humans will always be humans at the end. Human brain will always be human brain it will not change. You are a true genius.

[@kirstenberg4869]

Hi Mark. The others below are right and I also watch your videos every time. These are such important and ultra interesting points you show. One gets smart from watching your videos. Thank you very much and you have a great day too. 😀

[@A.N.N.E.X]

Great video very articulate on his description of the current economic situation in RuSSia.

[@scruffscruffeton986]

Wowzer, it's a good thing that the western currencies are doing so well and stable, with their economies humming along like it's 1999.

[@nicholastyrrell]

TRUTH ❤

[@mollirodhaet7224]

What a great channel you have imagined. I hope others notice more often.

[@-Alemann]

You have the best studio😃 just in the forrest. Love it.

[@EconLessons]

Me, I love nature and love to be outside.

[@-Alemann]

@@EconLessons Me too, was growing up in the Black Forest always outside. You are giving us good information about the Russian economy. Thank you for that. I'm very interested in that.

[@dcab6447]

Mark, Thanks for your channel and passion in putting this information out there for us. I learn a lot every time I watch you. I'm wondering since the Ruble is in demise, surely their vast natural resources and sales of oil to China and India are buffering this effect a lot. They also use their mercenaries to reach other resources in Africa and South America as well. Things like gold and diamonds. It seems like the government could continue operating off the revenue from natural resources kind of indefinitely until the citizens are just ground into the ground and their society becomes non-functional. The leadership will say everything is fine even though it's in total disarray. It's sad to see for all the average citizens. I guess time will tell how fast this all falls apart. I have a new saying when I see a politician lying or obfuscating the facts. I say "they are speaking Russian".

[@johnlacquey7240]

I really appreciate your lessons. But if you just left a 4k camera on you backdrop for a couple of hours it would probably do very well too :)

[@EconLessons]

I do not have an expensive camera but have really worked with the settings to get it nice. Its a cheap action camera but works well for my purpose as its not fun to be in the office.

[@oleksandrs1102]

Like listening to your videos

[@michaelmclean5088]

Great content

[@Chaldon-hl6yk]

Russian Ruble in Great Depression since 1991

[@MendicantBias1]

I’m in! Subbed

[@debbest8546]

good video

[@user-xv3rh9sd2z]

Wow smart guy !! 🎉

[@changingworldllc1157]

I enjoyed this video

[@garyfrancis6193]

Ruble in double trouble to become rubble.

[@peterpomialowski1838]

All fiat currencies are Charmin.

[@volleypurba8682]

Exactly

[@DJWHITE_]

It’s about 8000RUB = GOLD/gram. 225,000RUB = XAU (per ounce).

[@TBoneZone]

I like this guy. No BS. - T

[@rickrimington2760]

It would be interesting to hear your views on US debt .

[@renekuipers4563]

Debt usa .huh .Printer on .

[@robsharber2004]

Slava Ukraini! One of my stumble across finds, economics you make interesting.

[@spelunkerd]

I think I understand your points, but on the ground in Russia the supermarket shelves are still well stocked and people haven 't seen this tsunami we in the West predicted. I'm guessing it's because they aren't allowed to use foreign currency for those daily transactions, and much of what they buy is made at home. They've had an economic earthquake but the military machine meanwhile has taken up slack. Their oil production is still doing fine, in spite of what we predicted since oil is fungible and they can always find buyers in India and China.

[@EconLessons]

Again another video I need to do.

[@AnthonyOMulligan-yv9cg]

How do you expect to transport this Gas & Oil?

[@a0flj0]

I'd argue it's even worse for Russia. Their decline hasn't started in 2022, not even in 2014. It started more than two decades ago, when Putin took the power. What Putin did, right from the start, is to divest the most profitable state assets to his cronies. These, in turn, while heavily milking those assets and paying a share to Putin, were also exporting most if not all of what money they could get their hands on. Therefore, Russia's GDP growth on recent years, up to the start of the war, wasn't in fact a reflection of any real growth and development in Russia, it was just an illustration of the level of theft the oligarchs practiced. What Ukraine's allies have managed to put under lock and key is a rather small fraction of all that was stolen from Russia. All this came at a cost. There's basically no technology in Russia, aside from some machinery left behind by foreign companies when they left plus what Putin has bought for the arms factories. Intelligence and skills have left the country in droves. Aside from a constant revenue from oil and gas, Russia had nothing, when the war started. How to you reboot an economy that was allowed to decay for decades, while under sanctions and waging a costly war, with no money reserves, while having to support a rather large population and to administer a humongous territory?

[@boomerhgt]

Awesome videos what an interesting gentleman subbed and liked...made my day with these facts anything that helps Ukraine against Putins awful Federation is great news.

[@kirstenberg4869]

Hi Mark. Really a great video, and I do hope so much that you are right and I also watch your videos every time. These are such important and ultra interesting points you show. One gets smart from watching your videos. But one question: North Korea is much worse than Russia and they are still alive, not well alive but alive. Don't you think the same could happen for Russia, that everything goes very bad, but the leaders are still alive?? Thank you very much and you have a great day too.

[@myname9008]

hello. if its possible - can you please talk what you think of the economy and future of Kazakhstan in one of your videos ? Dzeki.

[@EconLessons]

Good idea about Kazakhstan.

[@shellrie1]

Fascinating. I see the drop in the value of the ruble compared to the usd, but russia has raised interest rates and using capital control measures to prop up the ruble. Will there be a time when those efforts give out and they will no longer be able to prop up the ruble? If so, are there indicators in the economy that you can look at that would indicate a collapse of the ruble is close?

[@SwissSicilian]

Very interesting and could not be explained any better 👏👏👏

[@kludgedude]

6:52 unusual Star Trek reference

[@fredrikbergquist5734]

The best propaganda is to accuse your adversary of something you yourself are doing secretly!

[@diegoyanesholtz212]

Dolar is the world's reserve currency.

[@wegder]

If Russia can't get loans there is every reason to believe that the Russian economy will fall apart,, the question is will that happen in time for Ukraine.

[@EconLessons]

It will this is a dark hour but help is on the way.

[@jamesewanchook2276]

good channel. Slava Ukraini! 🇨🇦🇺🇦

[@fdllicks]

I would love to hear your take on Argentina. That president of theirs is a character!!!! i love him.

[@NelsonZAPTM]

A month later and the ruble still plummets

[@seamusg5738]

Wow Mark

[@user-jr4uf1dc9k]

The rubles and toilet paper, whats the difference.?

[@Mrdm0066]

Most Russians most likely never seen toilet paper, they like to wipe with Pravda news paper. As for ruble, they can use it to buy cheap vodka. You can't buy vodka with newspaper, that's the difference.

[@grantp4022]

difference -- not too much:)

[@Kenneth_James]

less interest

[@k66a865]

Rubles smell bad before wiping also

[@NelsonZAPTM]

Toilet paper is worth more.

[@laurenthoutan8484]

Belle forêt !