SMH... you don't need to build reserves in your own currency as you can just print as much as you want. You build reserves in foreign currencies or overseas hard assets (so you can sell if needed) for buying stuff you need in case foreign countries don't want your currency or goods and services that you export.
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- Thread starter bd popeye
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Lol, that was honestly one of the dumbest speeches I've ever heard. Why would you fucking need to hold rouble reserves when you are THE EMITTER of that currency? Central Bank is having troubles stopping rouble appreciation yet this idiot suggests to accelerate this process by converting dollars/euro into it? Say, Russia has only roubles, how is it going to trade? No one is going to trade fully in roubles - those can be used to buy oil, gas & some resources but that's it. What is the relation between budget deficit and investment?
If this dude is a presidential aide, then no wonder Russia pooped its pants during the initial invasion blatantly miscalculating the required firepower, Ukrainian reaction and the sanction levels. They simply don't understand what they are talking about and are feeding false information to the decision-makers, this is treason-level stupidity.
Wait till you see this. The guy isn't simply a presidential aide but he is actually a former Minister of Economic Development lmfao
Did he deepthroat Putin for that position or something? Lol. Btw, ouch, what a bad look for that Russian university - Higher School of Economics - their MSc in Economics does not understand the very basics.
A random economic official in a tier city 4 in China is probably about 2x better than him.
I suggest Putin form a new cabinet exclusively hired from a tier 4 Chinese city party committee/city management. Guaranteed that Russia would double its gdp in 1-2 decades
Hmmm so following the USA off the cliff is all well and good, but if the EU somehow thinks that this is going to change the fact that the EU is about to have there economics completely de-industrialize and somehow expects the people to be loyal when they livelihood is destroyed, they may soon have another thing coming. If riots end up breaking out in the EU and maybe the USA, well I honestly wonder if these elites are prepared to die in the name of the green new deal, when the people are increasingly not only turning on the idea but are definitely going to want either the leadership turn these stupid policies back or they will simply get the French Revolution treatment. Does Macron want to be turn into Macron biscuits that quickly or something
Russia is testing systems in realistic combat condition. there was Bukm3 crew interview of intercepting high speed MLRS at 18km height.
similar situation with intercepting HARM missiles. only now the new generation weopons going into the field.
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There are probably enough decent Russian economists who don't spew such bullshit as this guy, this is a clear case of corruption and nepotism.
plawolf
Lieutenant General
Every time China has a new leader the China haters in the west west dream he is going to be a Chinese Gorbachev so their ultimate wet dream of a destroyed and broken up China can come true. Fuck those people.
he is saying there is budget deficit that will likely point to devaluation.
regardless what he says. Middleast will play important role in world financial and trading system.