RUSSIAN Ruble Crashing

[@buddy1155]

The rublee isn't crashing, it is a special financial adaptation.

[@charlesyoung7436]

So sad for Vlad! Looks like 100 Rubles to the USD is one of his "red lines" that's about to be crossed again.

[@harveyhorwitz1346]

It’s devaluing daily. 8% in the past week. Check the currency rates.

[@TheAngelusVeritas]

He was joking 😊

[@puraLusa]

😂

[@marcpaulus6291]

Ah yes, make Holiday in Russia, get force draftet into a storm Z unit and then visit the wonderfull trenches of Ukraine. What a adventure

[@petergraphix6740]

I think with Joe's videos he might just fall out a window.

[@phillipdavidhaskett7513]

At least you'll have plenty of rice. Quit complaining.

[@geofo60]

Looks like the cost of home brewed Vodka is going get expensive 😂😂😂.

[@yerkeruiter]

Give 'em some slack. The brochure's fineprint does mention it's a paid-for holiday with breakfast (potato) lunch (mandarin) and luxurious candle dinner (rice).

[@annaclarke7643]

Hearing Russia's economic and financial issues is music to my ears.

[@glintongordon6811]

The artist is capping

[@dirusso3030]

@@annaclarke7643 😂My too 💯👍.

[@zdravkoavdalovic3131]

Def

[@marinkovacevic8732]

You are listening this for 10 years and you still believe this crap?

[@DonaldAtherton-l7u]

@@marinkovacevic8732yes

[@ghostlightx9005]

Once the ruble is cheaper than toilet paper, demand will probably pick up.

[@slawomirozdoba4605]

I doubt it. Small levels of absorption mean that the level of support will be relatively small because nobody likes to smear a stinky excrement all over their bums (on the other hand, it is Russia, so who knows what is currently in fashion there). Anyways, proper levels of support will be reached when the caloric value/cost metric will overtake wood or coal.

[@MaxVerhaag]

20% interest is now just mere days/weeks away! keep it up ruzzia! XD

[@jacquelinetaylor8683]

98 Ruble to Dollar is official exchange rate on 9/10/24 but the street price will be a lot higher against the Dollar, possibly well over 100. Russia is in trouble. At last.....

[@phoenix5054]

As an Asian, being paid in rice sounds like a win. But still, dealing with Pakistan (of all countries) at this level? Pathetic.

[@Joshwaheazo]

I'll give you a pay check in rice if you like 🤭.

[@silverbird425]

Tastes better than rubbles/Rubles.

[@keesnoort]

In the near future, it will turn out to be a very smart deal as rice will be more valuable then rubles.

[@gregash7683]

Joe, I totally agree with your assessment. The Russian central bank is running out of hard currency and will not be able to support the artificial value of the Ruble. The real issue is long term deferred payment for crude, gas, coal, and mineral sales. Deferred payment is the same as long term credit sales, paper revenue listed on a balance sheet, but no cash on hand. Eventually, unrecovered revenue is written off and 'forgiven'. In the interim, we may see a flood of gold and other precious metals dumped on the market as substitutes for fiat currency. This strategy has its limits when healthy nations reach planned reserve levels. No 21st century nation is planning to return to the gold or silver standard, so unless the metal has some industrial value, bulk reserves serve no purpose.

[@JFvHussen]

They still have some gold left… I think… or china already bought it?

[@Lavithz]

​@@JFvHussen Their gold is like 3 weeks of gdp. It always been a joke when they say they are backed by gold.

[@loganl7547]

​@@Lavithz^this, it also GREATLY underpins your economic growth if its based entirely on a singular resource that isn't even remotely unlimited, while "fiat economies" (which aren't really fiat economies in the strictest sense, all currencies are based on something, even if that something isn't easy to track or understand) have the capacity to grow beyond just the gold in their vault. If a currencies value is entirely based on the value of a singular commodity then all it takes to tank your currency is to devalue that commodity.

[@patwilson2546]

@@JFvHussen Last I heard (Konstantin) the Russian National Wealth Fund was down like 75%.

[@davidwhyman1189]

@gregash7683 Errrh, don't you mean "The Russian central bank is running out Oranges and Potatoes"?

[@h.a.9880]

So, russia now isn't just the only nuclear armed superpower that was invaded by a non-nuclear nation, it's also a superpower that has to fall back on a direct barter system revolving around the good old potato? Putin's masterplan is quite wild.

[@IusedtohaveausernameIliked]

But but potatoes are useful. You can make them into vodka (grain is better but you can use potatoes in a pinch).

[@marinkovacevic8732]

Yes, you are listening the same crap for 10 years and you still believe it. Something is fishy for sure.

[@joojoojeejee6058]

Russia is not a "superpower". It is a regional power. And the condition of its nuclear stockpile is highly questionable...

[@hansrijke8477]

@@joojoojeejee6058 their army does very well do !

[@danielmcinnes20]

Excellent video, as always! Thank you Joe!!! Slava Ukraine 🇺🇦!!!!

[@American-In-Mykolaiv]

Thanks, Joe, you are most honorable with your reporting. I am here in Ukraine waiting for Russian TV to crank up the old reruns of "Swan Lake!" Slava Ukraini!

[@dermodsmyth7645]

We all are...😂😂😂

[@lajoyalobos2009]

Swan Lake! Swan Lake! Swan Lake!

[@tiberiusbrain]

By the way, do you guys know why the swan lake plays at those moments?

[@publiusrunesteffensen5276]

@@tiberiusbrain "Swan Lake" is traditionally the swan song of a Russian leader.

[@tiberiusbrain]

Once upon a time, a guy named Joseph Stalin heard a live broadcast of "the swan lake" played in the moscow concert hall. He loved it so much, that (apparently) he was emotional about it. He made the call that he wanted to hear it again. It was live. So, they broadcasted it again and this time they recorded it (just in case the man seemed to have another emotion or something in the future). Then he died, for a hilarious retelling of what was going on behind the scenes i refer to movie "death of stalin", and during that period of confusion they broadcast that recording over and over as a "nothing to see here, move along... move along" thing. Then they kept it as tradition

[@randalthor741]

I mean, if my only options were to be paid in rubles or potatoes, I'd take the potatoes.

[@Simonsimon-fy3hq]

At least you could make vodka!

[@edonveil9887]

​@@Simonsimon-fy3hq absolut!

[@Realtimehammer]

Without the props I would never have understood the intricate details of the fall of the value of the ruble! Props to the props, and thanks for another great informational video!

[@TyllerBoom]

Ruble is at an Almost 1 year low to usd, let's goooooo!

[@michaelhenault1444]

One of the main oligarchs predicted a year ago that Russia would run out of money in 2025. They know about money.

[@Luckydog557]

I appreciate your analysis. Thank you

[@howardgoetz7931]

Really enjoy commentary that includes actual data. What a concept!

[@alexjaybrady]

Really enjoy commentary that includes actual potatoes!

[@patwilson2546]

@@alexjaybrady Wonder how many lentils the potato cost (not joking - Russia just did a barter deal with Pakistan where they paid in lentils).

[@JamesW-m6j]

Seen the Ruble getting hit hard just now. I thought Joe will be right on it and loving this lol...and here we are just like clockwork haha!

[@markstrauss4964]

Go ahead with the props, Joe. They certainly help make the point.

[@nickhtk6285]

Crossing that psychologically important level of 100 rubles to the usd is going to be a crisis on so many levels. Damn.. it hit 97.9today... so far...

[@t.m.5004]

Actually it hit 100 today just for a moment

[@JFvHussen]

Yep, its sliding down fast now, if it was my investment, i would be worried now… no foreign 💵 left to buy up rubles anymore

[@loganl7547]

Yep, and russia managed to bounce it back twice now by converting assets into wealth, but thats very much a "selling the fridge to afford the grocercies" type of maneuver, 1 its a one use thing, once its gone, its gone, 2 it devalued the russian economy long term by driving out the remaining foreign investment to force forfeiture of all foreign currencies, 3 if the russians actually won the war and things went back to the way they were in 2021 they'd have to "buy a new fridge", meaning remake the investments they sold off to keep the bills paid. They aren't solving the problem, just postponing their demise.

[@waelfaraj6705]

Russia still has more than 600 billion dollars of foreign reserves with Gold ... They have a sovereign wealth fund of approximately 137 billion dollars ...However , for how long can the Russian central bank maintain the ruble value even at 100 rubles to the usd ...

[@dirusso3030]

​​​@@waelfaraj6705👎👹🇷🇺💯🦬💩💩💩

[@MagicMiro]

I can see the contentment in your face Joe 😄 yes USD Rub touched 100 , it will test 120 next

[@boink800]

Then it will hit 200, 250, 500 and then 1000 ... as it goes into infinity

[@miroslavolenjin3625]

I like your accent and pronunciation, you speak very clearly. As for Russia, this way or another, its economy is doomed. The rest is in details.

[@20frank]

Its going to hit 100 very soon and hopefully will continue to fall. Thanks Joe, really enjoy your channel.

[@jay0kew]

Economy lessons are far more interesting when using props.... potatoes, oranges, cauliflower, jar of strawberry jam.... it makes it more understandable. Thank you Joe Blogs.

[@verttikoo2052]

😱 Makes me hungry. What is this? A cooking channel 🫣🤭

[@mikehansen233]

@@verttikoo2052 Joe has been experimenting with new ideas, so don't be surprised if he runs an occasional cooking episode.

[@ronmullard5718]

The ruble is like that Status Quo song .....Down Down..

[@jodu626]

china looking at russia thinking hmmm maybe i’m not that bothered about taiwan after all

[@burningpentagram666]

Somewhere , at the moment , a Minister of Finance is contemplating having a sip from his fresh cup of tea.

[@youuuuuuuuuuutube]

You could fly to Serbia then to Russia, or to Estonia (Tallinn) then take a bus to St-Petersburg. However, you might as well get a one-way ticket because you might get detained there.

[@french.toastman]

"Ruble for a penny, sir?"

[@fuz4623]

Love your enthusiasm for potatoes, oranges, and now rice. 😂

[@wp9860]

How is it that the ruble still has a trading value on the currency exchange market. Who's purchasing rubles? Who's buying rubles with dollars? What is the black market exchange rate in Russia?

[@sicko_the_ew]

I was delighted to see the return of the orange and the potato. That's what put the first smile on my face. Looking forward to Cent Day, now.

[@Alexx_111]

my russian friend said her rent is going up by 15% next month

[@abcd-ev7jg]

A pro-Russian guy tried to make me believe that a 19% interest rate is not a sign that the economy is not doing well. That when an economy is doing badly it LOWERS interest rates, therefore, RAISING them is not bad. I told him to keep dreaming, that dreaming is free.

[@bassbuffricky]

Then again, pooty huggers aren't the sharpest tools in the shed.

[@Joshwaheazo]

Erm, well lowering them can be as well. It's to encourage borrowing and spending. You need a bit more context than down good, up bad. But 19% is never going to be good it will make borrowing money very expensive.

[@abcd-ev7jg]

@@Joshwaheazo I know perfectly well how interest rates work. I worked in a bank for 37 years. The one who didn't know how they worked was him.

[@phild3936]

Another one, in fact, quit 'a lot ones' exchanged growth (IMF: 3.5% - growth rate 2024, not so good for 2025) with amount/volume to prove that ruSSia's economy was the 4th in the world. Spouting mind boggling BS seems to be the super power of ruSSian trolls.

[@coolhandlukedubble99]

Russia going back to the stone age

[@bassbuffricky]

Already there.

[@Abbo888]

In fairness they didn't have to go very far to get there.

[@daviddelgado6090]

97.7750 today, another -1.03% since yesterday

[@CarmeloRagusa-w7t]

Russia is never getting a single cent from me. Ever.

[@bpd9660]

Avoid buying Chinese or Russian products

[@ghostlightx9005]

Same here. Disney as well.

[@davidchristensen6908]

Nothing wrong with pops, pet intrusions or kid interruptions. This is life when you record from home.

[@daviddelgado6090]

High interest rates discourage domestic investments. Only the oligarchs can finance without borrowing. This will concentrate production further into the hands of the oligarchs.

[@Joe_1sr9]

Nobody in the world wants the Russian ruble it’s like Monopoly money and basically worthless unless you are playing a board game….

[@JohnHMarsden]

Thank you keeping us up todate

[@dirusso3030]

🎉 Thank you Joe, I love your channel! 🤩 In Joe we trust!💯👍.

[@Nick-ov8sm]

Putin: All going to plan 😂😂😂

[@geerid]

I think Mr. Potatohead will fly out of window someday soon or later

[@krisradjpaul278]

@@geeridI bet he’s not drinking any tea.

[@InsertGreatChannelName]

Nice Props

[@Mseihcir6921]

I’m glad to hear this news 🤑

[@stepup898]

I always said when Russians have only potato soup with no potatoes that would be the end, Putin has pulled a blinder by bartering nuclear submarines for potatoes.

[@timduncan6750]

More props please…

[@kenibnanak5554]

One of the key indicators the world observed prior to the collapse of the USSR (and pretty obvious something was cracking) was the sending of the Soviet Army Infantry out into the fields of Russia to dig and plant potatoes so they could become fed. When N. Korea's army suddenly became fishermen and farmers, we knew hard times had arrived. About 5 months ago with the sudden growing shortage of working Russian oil refineries coupled with a shortage of parts for agricultural machines along with young men pulled off Russian farms to become fertilizer on Ukraine's lands, multiple rail problems, a shortage of road maintenance and truck parts, etc. {I wasn't even yet looking at the loss of harvest from Kursk now happening.} I began writing in other forums I smelled a food shortage possibly hitting Russia this coming winter and spring (and possibly for decades to come as Putin lives and the sanctions continue). I am obviously not the only one who senses a Russian food shortage coming. Someone in Russia's Kremlin smells it coming too. Those rice and potato payments may prove essential to helping some Russians get through the coming winter. How many potatoes does a gallon of Russian Crude get?

[@garyddlewis3067]

You will upset Russian bots again. 😀😀😀.

[@boink800]

They will tell us everything is fine in Russia, with that war economy GDP. Ha ha 😂 🤣 😆 😄

[@garyddlewis3067]

@@boink800 There is a lot of hot air said by Russian bots about the Russian economy. Read the article by Anders Aslund where he provides a withering analysis of the Russian economy.

[@ClannCholmain]

Ruble, Rubble, same same.

[@julonkrutor4649]

Neah, Rubble is a better investment 😂

[@ClannCholmain]

@@julonkrutor4649 yes, I have been outwitted.

[@bassbuffricky]

@@julonkrutor4649 😂😂😂😂👌👌

[@Shazbat5]

I bet the Ruble will track the value of that potato pretty consistently over the next year.

[@monkeymagic4555]

pootin and his micro economy lol

[@williamlloyd3769]

Joe you didn’t send Putin a birthday card for all the story material he provides? PS - my parents took the Trans Siberian railroad from Moscow to Vladivostok in the mid 1980s. I always wanted to repeat the trip but looks like not anytime soon.

[@zaphod22]

Spuds McPutin!🤣🤣...thanks Joe.

[@stevenpike7857]

Wow, it was at .10 October 9 2023, and now it's back down to the same amount October 9, 2024!!

[@ImperatorSomnium]

Well, if nothing else, putin made all russians millionaires and billionaires 😂😂😂

[@Abbo888]

Kopec millionaires 😂

[@tradingjedi]

I grew up in a communist country. Russia is back in 1988 and keeps going deeper and deeper into the communist times.

[@AlexMedina-nb3tr]

I'm glad to hear the news about the Rubble👍

[@ashdrive]

Sounds a bit medieval...

[@busboy262]

These are ild props. I think that I read that they may also be trading in durian and guano. So get shopping!

[@davidwhyman1189]

Hang on a minute Joe, my neighbour is on some weird austerity diet consisting only of Oranges and Potatoes and he needs a cheap supply. Tell Vlad I'll be sending his name and address in the post!

[@simonaddy7331]

Turkey is not cheap to visit, their inflation rate is through the roof.

[@boink800]

You need to spend the Turkish lira as soon as you get it

[@philjameson292]

Just a matter of time before the Russians start a black market in potatoes 🥔

[@Joaodocaminhao0234]

Thank you very much👍👍👍👍👍👍👍👍👍👍👍👍

[@robertpatrick3350]

Russian citizens need to stock up on non perishable goods…… inflation is going to destroy the value of their income

[@boink800]

They will be panic buying toilet paper with that ruble currency

[@andrejsasd8904]

@@boink800 At some moment it'll be cheaper just to use rubles as toilet paper...

[@phil4499]

Only a matter of time before Mr. Potato Head has to throw in his chips.

[@simonfrederiksen104]

fingers crossed the ruble takes a nosedive and goes over 120 to the USD

[@harmony9591]

Putin needs to go...

[@markfischer3626]

In a recent posting about the exchange rate of the ruble I said that the only way to know the market exchange rate is to look at the black market because the Russian central bank fixes the official exchange rate you'd get from a Russian bank. In Russia this can vary depending on the source and the news of the day. My investigation only got one response and that was in Singapore where it was 220. Someone else reported 200 in Indonesia. The actual inflation rate governments publish as even we here even in America know is that the real inflation rate is much higher than the official rate. So in the US when the government published 9 percent, at the supermarket it was more like 20, 30, even 50 percent. Only people doing comparative shopping in Russia can know the true rate. It could be anything, depending on what you are buying and where you are buying it. Russia is trying to paint the best possible image of conditions in Russia in cities like Moscow and Saint Petersburg. However, looking at areas beyond those cities suburbs are, there is an entirely different story. We see a nation that is clearly in dire economic trouble. It is dilapidated, crumbling with no repairs or maintenance, shortages of labor in factories, and prices rising faster than salaries. Interest rates at banks are 19 percent. Private debt is through the roof. Industries not related to the military are dying. Russia is in a condition of what the Russian/American trained economist Konstantin calls "Stagflation" where output of products and services that create wealth is shrinking and inflation is rising. He believes that Russia is on the cusp of runaway inflation and collapse. As an outside observer with some training in economics and a lot of experience with It, I agree. There are shortages of everything including men. As bad as it looks when you peer into it from the outside, it is almost certainly if you are on the inside with access to the real facts. How much longer can Russia prosecute the war in Ukraine by paying huge incentives to sign up, importing North Korean soldiers and half of its artillery shells half of which are defective? It seems not much longer. It's easy to fake a high GDP adjusted for PPP when your PPP is 26.5 as reported by the World Bank.

[@okiedokie4663]

Great Video! You have done a great job! Best regards from Austria!

[@barrymayson2492]

I have a story which is true about money turned into goods for barter. I was working in the temporary Iran embassy, just after the seige . I knocked on the door and a big security guard opened the door. He checked my details and took me upstairs to do the job. I struggled up the stairs as it was covered in sacks. I did the job and spoke on the way with the security guard about what's with the sacks. He told me they are pistachios and the reason for them is that the staff are paid poorly so they convert all the money to pistachios which are cheap in Iran. Then get them shipped over to UK as diplomatic bags no import tax etc . They sell them on the open market. 😂

[@klauseuler9186]

0:25 September 13th: Interest Rate 18 % -> 19 %. 1 $ down to 89,3 Ruble, but than a one way ticker to Cent = Ruble

[@Travis_22]

Getting paid in perishable goods...lol

[@BrianSmith-ow9gy]

It's a shame you use rising graphs to demonstrate the fall in value of the rouble. It would be more intuitive if you inverted your graphs and showed a falling line for the rouble.

[@phoenix5054]

Because otherwise, you cannot see that psychologically satisfying number: 100. You would see 0.01 instead.

[@faontastik]

Today 14:27 UTC 1$ = 100,100 ruble...

[@cordellwordlaw3390]

The 14:31 Rubel is no longer considerd a reserve currency and now with the actual rate of inflation being at least twice as much as they're reporting the NeoSoviet Union is going to look alot like Germany after WW1 and the Rubel is going to look exactly how the German Deutschmark looked back then. Real pretty colored toilet paper and wall covers! Dos vedanya 😢🇷🇺 and Slava Ukraina! 🇺🇦💯

[@TheDotBot]

They might start paying in potatoes instead. Belarus better watch out...

[@Anonymos321]

Russian ruble never was a reserve currency.

[@JFvHussen]

Even if it lose 1 cent now a day, it still 1% of your total investment, that hurts if this continues.

[@teamermia7741]

Any potential toilet paper shortage has been sorted.

[@williamjones9662]

and oil is not all the same from anyone given coming out of the well...testing is prime.

[@sleepwell-cj8vr]

Top content as always..! Thank you Joe.

[@TheDotBot]

Mat from Techmoan was even more British at dissing Russia on his world radio review, "Oh I don't think I want Moscow, I'd rather have Barcelona..."

[@JFvHussen]

I think its almost over… game over!

[@GoldenPantaloons]

The orange is back!

[@jpx1508]

Joe - Keep trolling the trolls - ".....it will be interesting to see if it falls to 100 and, if it does and, I will let you know as soon as it happens."

[@DC-ux1dt]

Love the props.

[@jamesgrant3343]

I was thinking ‘Ugh another Russian Ruble video - come on Joe. But then I watched and there was new info (to me) that was very interesting. Seems that there’s a 1% decline per day - usually there is a stable decline and then one of two things happens. 1 - devaluation, usually disruptive 2 - coup/collapse, always disruptive Just depends where the knee is. I suspect it’s about 150:1 but it’s anyone’s guess.

[@billy2807]

The Kremlin doubled the signing bonus for new recruits into the military a few weeks ago. The day that happened, a lot of people (myself included) speculated that the Kremlin knew that the ruble was about to take a big dive in value, so they were trying to leverage that knowledge into more meat for the grinder for essentially the same price. And now look. Tick...tock...

[@ghostlightx9005]

russia is working on a new shop till that is potato-friendly. It is 16 feet across.

[@Illrationial]

You should make Russian ruble shorts. 5 mins without background. There is lot as of new information and I like that but the duplicate info starts to get in the way. I really enjoy your videos

[@jdz9115]

I like your use of props

[@billybob-bd1ub]

Can you make a video of how much ruble is traded at in Russia as the black market? I hear it’s over 200 rubles per dollar

[@ajdrums8075]

Six months since a video on Turkiye and Argentina. Can you follow up on if your predictions were as dire as you predicted please? Everything just got switched to Russia

[@boink800]

Russian inflation will soon match Turkish and Argentinian inflation

[@ycplum7062]

Are the foreign mercenaries (contract enlistment by foreigners) being paid in Ruble or another currency? Assuming they survive and go home with Rubles, who will want them? lol

[@WilLinders-pt7de]

Hey Joe. I was happy to see the girl statue yesterday, but now you took it away again.

[@mitjademitrijcernac9204]

With your truthful reporting and economy assessment of Russia, you might be getting to Russia, but you probably will not make it out. So much for a Russian vacation.

[@Dragonboy-dp6xi]

If they are getting paid in potatoes and oranges does that mean their maybe food shortages?

[@rapturedmourning]

Can you do a video where you juggle the potato, orange, and rice?

[@robertdshannon5155]

Joe: are the potatoes small or large? This was is historic. The East German mark was inconvertible and so their treasury had to take out very expensive loans and the economic problems had much to do with the DDR’s problems in 1989.

[@alexjaybrady]

Joe flashing the Patreon wealth again showing off his potato and orange collection 🙄

[@Mittarimato-o7w]

You can always print more money with bigger denomination. It works? :)