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(1) "A drop in the total amount of currency held by individuals and legal entities in the Russian banking system is now $152.4bn - a new low since 2008."
This is also true in the US. The total amount of currency held by individuals and legal entities in the US banking system has shrunk at it's fastest rate since the early 1930s in the onset of the Great Depression.
And you seemed to be saying:
(2) "The sharp decline in foreign currency deposits directly indicates a powerful outflow of capital from the country."
The US has this too, just not as sharp. #1.... Foreign US treasury holdings are declining. Some countries are increasing US treasuries, but the BRICS are reducing US treasuries for a net decline.
My point is what you were saying is at least in part a more common phenomenon around the world. Now you're adding that the US currency is appreciating compared to other currencies, which is true, but not true for the ruble.
#1.. Different subject. I opened speaking about "the total amount of currency held by individuals and legal entities in the Russian banking system".
That is not M2. M2 is a different subject and is rising steadily in Russia as Russia is forced to sell foreign holdings, like the Yuan. That's good for Russia on one hand because the Yuan has appreciated since they bought it, but bad for Russia because it indicates Russia needs money.
Foreign US Treasury holding are declining. So what?... That just indicates strength of US dollar. Foreign governments sell their US Treasuries for the same reason you would - they need the cash.
#2....I said the US currency is appreciating against the ruble. It is. The chart I linked showed it - well, actually, it show the ruble depreciating against the dollar. Same thing.
Look at the chart I linked. You can track any currency you like vs any other currency.
If there is one organization in the world that counts for nothing as an investment vehicle, it is BRICS. Every single one of the BRIC nations is in economic peril.
You can wiggle and squirm all you wish, but the figures are in and they show a failing Russia. The outcome of the war doesn't even matter, although the expense of the war will accelerate their default date.
Sanctions and boycotts are killing Russia.
A drop in the total amount of currency held by individuals and legal entities in the Russian banking system is now $152.4bn - a new low since 2008.
The sharp decline in foreign currency deposits directly indicates a powerful outflow of capital from the country.
Russia is going broke.
Well, at least it is good to know that the US finances are in perfect order, right? Lol.
Putin threatens to hold the world hostage by blocking Ukrainian grains if some sanctions are not lifted.
There are some people who say sanctions don't work and the war does not affect the USA.
1. Sanctions work. Otherwise Putin would not ask for them to be lifted.
2. This war affects the rest of the world. If Russia blockades the grains, shortages would drive up price for every country............
And Turkey, who has a far bigger navy than Russia in Black Sea, says Russia better not try that. The Turkish navy will escort vessels.
Quote:
According to a tweet published by The Azeri Times on July 9, 2023, Türkiye and Ukraine have affirmed that their grain agreement will persist, regardless of Russia's potential withdrawal. Security for shipping corridors will be provided by the Turkish Navy.
This is true, but after "dropping on them" whatever, Russians still have to get out of the trenches and to keep on advancing, taking city after city.
And you already saw what a devastating effect it had on Mariupol and Bakhmut.
Russia isn't leaving and Ukraine and the West are running out of guns and ammo. Whatever Ukraine sends against the Russians gets demolished. Eventually the West will run out of patience. I just hope the psychos in Washington don't do anything really stupid like sending troops over. Oh they did? Gonna heat up now.
In the three marketing years prior to the war (2018/19, 2019/20, and 2020/21), Ukraine's exports made up 15% of world corn trade and 10% of world wheat trade.Feb 24, 2023
That is hardly holding the world hostage.
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