This sounds like dual currencies collapsing to me where Russia voluntarily exited the US Dollar *"World"* but then in attempting to enter the *"Yuan World"* wanted to pay in Rubles but China doesn't have an ability to clear "in Rubles" as all foreign electronic payments are in US Dollar Denominations possibly set by oil or natural gas fix and mutually agreed upon as a "price"("in dollars.") Obviously I have no way of knowing this but actual physical observable trade would show working/not working payment system. Meanwhile doesn't Russia still have to pay their workers? How does that work?😊
Joe, I would love to hear your thoughts on this unknown factor, whats stopping Russia from loading gold on a cargo plane for payment? While there's considerable speculation about Russia having undisclosed gold reserves, much of this remains in the realm of speculation rather than confirmed fact. Official figures are transparently reported, but the possibility of additional, unreported reserves is often discussed in economic and geopolitical analyses, fueled by Russia's actions in the gold market and broader economic strategies. However, without direct evidence, these remain theories or strategic ambiguities rather than verified information.
Based on the information available up to September 2024, there are more than 96 gold mines in operation in Russia. This number comes from a detailed database tracking global mining operations, which indicates that Russia hosts a significant portion of the world's gold mining activities.
Would be awesome with more information about all the companies that are exempt from new rules to strengthen sanctions. Even Lego is exempt, here is a list of companies in Denmark that are exempt as of 31. juli 2024: (many more all over the EU) Janssen-Cilag A/S H. Lundbeck A/S Takeda Pharma A/S Ecco Sko A/S Chr. Hansen A/S Movo Nordisk Alcon Nordic Leo Pharma Swedisk Orphan Biovitrum Lego System Unomedical FLSchmidt Radiometer MEdical Ambu
Oh, Putin believed so strongly that other countries would cower before Russia's might, after they conquered Ukraine! And here he stands, once again, egg all over his face, before the whole world...
the ironic thing is that you haven't figured out that this news is proof of it chinese and russia are trading bilaterally, they are using an alternative to SWIFT
What the US is basically proving is that boycotts are a powerful weapon. Something to keep in mind in dealing with autocratic minded, plutocrat billionaires, much closer to home.
They have yet to receive their paycheck.😆 If I were them I’d be a little salty, seeing some trolls in the US were getting paid 100k USD a week while they are probably being paid literal peanuts to do basically the same work.
Talking about the trolls that say sanctions don't work, Trump is saying that our sanctions against Russia are hurting us... and by us, he means his pocketbook
I wonder if Russia created Bitcoin thinking about what was about to happen. Not about what is happening now, but what would have happened AFTER a successful annexation of Ukraine.
This has been coming, shows how intransigent Putin is to have allowed things to get to this state of affairs, but having built his myth of being a great leader up so much he left himself no room to back down.
These secondary sanctions are long, LONG overdue. China thinks it can get away with playing footsie with Vladdy Poontang while still doing business with the US. It's a lot easier for the West to squeeze China's financial nuts than it is for China to retaliate.
@bigman23DOTS I've been saying for a few years now that China wants it land back from Russia. The Russians should be more concerned about the Chinese than the West.
Its appalling that Danish compagnies and others worldwide can still operate in Russia they can seek dispensation and continue to operate its: Ecco, Lego, Novo Nordisk, FLSchmidt and Ambu. The list is not complete.
It only show they are capable of not conflating their interests with those of the US. Hearing UK, France and Italy appealing to morality and respect other nations sovereinty are beyond satire 😂
@@Rotwold we had fascism once yes. and we DONT want it again. we are sorry for what happend. we are now fighting against it, and we will not fall against people like you, spouting nonsense trying to confuse what is right and wrong.
It's amazing how much chaos one man can create in almost all corners of the world. And then there are the massive financial issues countries and businesses are dealing with. One man.
The Ukrainians still deal with it though, they still take payment from Russia for gas going through the pipelines in the country, even during wartime. Which makes these sanctions pointless, they mostl effect external parties.
@@JW-YT… loool … considering that the pumping stations were distroyed and the contracts arrived to the end date it show that it’s another lie of a krembot, before he goes to the frontline!…😂
China's economy is also in shambles..Not enough money to feed themselves, high unemployment,hated by their neighboring countries, foreign investment packing out and putting their business to Vietnam and other countries, corruption at highest level and natural calamities yearly..It's only a matter of time before these two so-called superpower countries will collpse..
You think Russia is giving back Luhansk, Donetsk, Kherson, Kharkiv and Crimea ? Simpleton? The USA wrecked the petrodollar by proving it is an international financial and Military criminal you simpleton
I don't really want that level of destruction as I'm reminded of Germany post WW1. Isn't the easiest way forward to retire Putin, install a half sensible leader, withdraw from Ukraine & begin a future with no need for sanctions?
@@BenState the reason is im german and my Smartphone changed the word cars (that it doenst know) into Carsten, a german name. Im sorry im not perfect in a language that is foreign to me, Maybe we should switch our discussion to german, wäre doch geil, oder?
You think Russia is giving back Luhansk, Donetsk, Kherson, Kharkiv and Crimea ? Simpleton? The USA wrecked the petrodollar by proving it is an international financial and Military criminal you simpleton
@@OliverKassyJacobsen China PR is off the scale, just like Russia's, the only problem is they get to believe all their BS until reality kicks in, like for example in Kursk!?!
You need to be self-sufficient to have a full-on war economy like this. Russia is to some degree self-sufficient, which is why it's taken the sanctions this long to lock up their liquidity. They produce oil, fertilizer, food, and gold. But when you deplete all the men working these jobs to be mobilized into Ukraine, the domestic economy suffers.
GDP is a false indicator of economic health. During WW2 people were in breadlines, used ration cards and lived pretty miserably but the GDP looked great. After the war the people lived far better, it was a boom time, but the GDP looked terrible. GDP should not include government spending as some kind of positive, because its not.
@@protorhinocerator142 they can make guns, bullets and dumb bombs sure, but anything technological has to be made from imported parts. Russia doesn't have a semiconductor or microprocessor industry to speak of. That's part of the reason they were looting washing machines, to steal the electronics.
You think Russia is giving back Luhansk, Donetsk, Kherson, Kharkiv and Crimea ? Simpleton? The USA wrecked the petrodollar by proving it is an international financial and Military criminal you simpleton
I know why. It is interesting and educational to learn about how our world works including how complex things can get. By reading the comments you get a feeling about what others think about the world situation people in the world are struggling with.
@@sabin97Oh, no. The usual whataboutist that comes on a Ukraine forum to complain about Palestine. Like complaining to the traffic ministery about restaurants serving bad food. As intelligent as it sounds!
At what point will China realize “ Hey, why are we paying for Russian gas and oil , it’s right next door,maybe we should renegotiate the 1858 Treaty of Aigun “ I mean that point in time is what Putin wants to …Make Great Again.
@@sergeykish Yep, with the remaining 'might' of the Russian Army (2nd best in the World) committed to a tiny part of eastern Europe then China could just walk in and take what they want. And, of course, write off any debts they owe to Russia but demand those owed by Russia to them.
@@glintongordon6811 do you pretend like Ukraine and China have comparable military? Moscow is so concentrated on occupation of Donetsk oblast it does not even protect its borders with Ukraine. Now how much forces has it left on China border?
This channel has turned into a fun farm. Bots accusing real folk of being bots, real folk realising the grift and turning into trolls. Great content! Just love the lively discussion in the comments section. Peace!
Rubles are an interesting currency. When the post-soviet ruble (RUR) hit 6000 to the dollar, Ru issued new Rubles = 1000 old ones. 125 RUB to 6000 in 6 years. They also minted Soviet "commemorative" rubles the size of 5-swiss Franc coins. Vending machines in Switzerland were stripped clean using those coins. They were cheaper than using washers.
When I was in russia in 1990, the official exchange rate was 10R to the $, but the unofficial black market exchange rate was 35 - 40R to the $. The exchange rate over the following years was a spectacular plummet, and when Yeltsin handed over to Putin was the point I decided to get out. Never been back since. I do wonder if we might see another of those epic currency crashes.......
I appreciate having the information covered in this video. It really sheds a light on the subject to have all your research in a consumable format. Thank you for your hard work.
Wow, this is a real mess for Russia! 😬 I wonder how long they can manage this before things get really messy. Makes you think about how connected all economies really are, huh? 🌍
Thank you Joe…my daughter checked your info and supports your data. She has become a skeptic and was pleased to find your honesty…wow. I never thought of her skepticism.
It looks like Russia's BRICS allies are less an asset and more a 'millstone' around the necks of Moscow and its partners. Without the free exchange of Rubles and Yuan, the payments will have to be made in Gold BRICS, another commodity with limited liquid exchange value in a world stumbling through recession.
And Turkey wants to join these losers? Regardless, rubles for yuan is a worthless like-kind exchange as no one really knows the true value or wants either elsewhere
Now do the same with secondary sanctions on India to throttle its secret trade channels established to help ruzzia get its hands on goods and components needed for its war economy
You think Russia is giving back Luhansk, Donetsk, Kherson, Kharkiv and Crimea ? Simpleton? The USA wrecked the petrodollar by proving it is an international financial and Military criminal you simpleton
They have - THIS IS BULL5H!T There was a temporary issue in June 2024 that was solved by August and they are trading in e-CNY/Digital Yuan/renminbi The US has no control / jurisdiction over this and they dont EVEN know what the transfers are as they dont take place in $USD or on the SWIFT system The US can only dictate what the USD is used for, it has ZERO control over other currency transactions
Russia can't, China won't take russian yuan because it's labeled dirty yuan by secondary sanctions. Russia has to find a way to get a pure yuan to give to China that is not directly Linked with Russia
China is currently in a very vulnerable economic spot. The economic internal crisis, the failing silk road and decreased trade to the west weakend their own economy. China can't afford the secondary sanctions as they will hit them worse then losing tilted trade with Russia. (tilted meaning they gain more then what Russia gets for it). So they either yield or bleed when they are already bleeding badly. There also is a movement going on inside China that is reconsidering their plotted course as they are realising that owning resources (in China and Afrika) and making product is fairly meaningless if the wealthiest nations on the planet don't buy them in large enough numbers and prevent undercutting normal market prices by state funded manufaturing. So Russia is getting more and more isolated as their league of evil turns out to be a lot of nations not willen to put Russia above themselves.
You think Russia is giving back Luhansk, Donetsk, Kherson, Kharkiv and Crimea ? Simpleton? The USA wrecked the petrodollar by proving it is an international financial and Military criminal you simpleton
Joe: China wants to export EVs to Russia and EU, but they perform badly in freezing temperatures: 25-40% lower range and similar increases in charging times. And of course, Russia will gladly fund charging stations...
Russia might want to leave the back of the Ruble blank. That will guarantee it has value as note paper. If no one wants to trade in Rubles, I don't understand why Russia would keep propping up its value.
@@mikep490 Using the price of donuts at the shop down the street as a reference point, the value of the US dollar has dropped almost 70 % in the past 5 years, so I am not sure that we should be bragging.
@@harryniedecken5321 Using the price of Safeway donuts, there's been zero inflation in the last 19 years. But I love the idea of the donut inflation model. 😁 (That doesn't include the half-price sale they had 3 weeks ago, a dozen for $5.)
You think Russia is giving back Luhansk, Donetsk, Kherson, Kharkiv and Crimea ? Simpleton? The USA wrecked the petrodollar by proving it is an international financial and Military criminal you simpleton
One thing you dont understand about Russia Joe, If theres a factory that doesnt get paid and they dont have money to pay to their workers, they simply wont pay that month, and thats it, they keep on working, people get threatened, made fake promises that money is coming next month even tho it will never come, and people are desperate and need to keep the job. Its a crippled system but its far from collapsing
Yes, and it’s all going to plan - the desperate unpaid workers are lured to the front, then only receive a one time payment at 15-25% of what was promised.
I’ve said it many times, and I’ll say it again. When the truth is told the bots come out in force to try and destroy that truth. But the problem for the bots is that you can’t destroy the truth. But I’ll give them an A for effort. 🤷🏼♂️ But as always the bots fail in the end.
If I were them I’d be a little salty, seeing some trolls in the US were getting paid 100k USD a week while they are probably being paid literal peanuts to do basically the same work. 😆
I wonder how many goats a new Chinese car is going for these days near the Russian border. Maybe Russia looked at North Korea and got jealous of their pariah state economy.
my friends in russia have never felt so powerless. i really do feel bad for the people. incredible how putin has been able to get away with this for so long. very embarrassing
@@tombicmail no they goto university in Samara, Moscow and Chelyabinsk.. we play counterstrike. doing any little bit of independent research shows the same results. they don’t see a reason to continue university in russia apparently it wont change the situation they are in. fucked up ngl sucks hearing that type shit from my own friends that I grew up with.
Another good update from Joe Blogs on the Russian economic situation. However, the present dire situation MUST be put into its historical context for any of it to add up, and it MUST BE SEEN THROUGH RUSSIAN EYES for it to make any sense at all. What most western people don’t realise is that the situation in Russia in the 1990s, just after the fall of the Soviet Union, was really dire and that lasted for 10 years. At least the Communist era, despite its many deprivations, offered one important, stabilising thing; certainties. The certainty of a job, even if you didn’t really have to do it, the certainty of a pension even though it wasn’t much, etc. The 1990s decade of turmoil swept all those certainties away, and was replaced by a free-for-all scramble which the majority couldn’t handle. The situation was so dire (as an example) many professional women, doctors, surgeons, university professors, to make ends meet, hung around in the bars of the grand hotels to earn 100 bucks from the many westerners then flooding the major cities. They earned more in one night that way than in a whole month in their jobs. When Putin came to power, from 2000 on things began to change very rapidly for the better; certainties began to re-appear. I witnessed those rapid improvements in visits from 2002 to 2007. In those 5 years at least the major cities became unrecognisable, and there have been major improvements since, though not so fast. For most in Russia, except maybe the very young who did not go through that deeply troubled period, Putin was and in their minds REMAINS THE SAVIOUR. Most of them also believe genuinely that Crimea belongs historically to Russia. Putin had a clear unspoken social contract with the people of Russia; I’ll improve your lives if you stay out of politics. And he stuck to this bargain. Because of the current economic and financial difficulties, Russia is simply going back to the state it was in in about 2010, and most people don’t have a problem with that, because even that would be INFINITELY BETTER than what they had in Soviet times and the disastrous decade of the 90s. This is why they’re not revolting in the streets; so many of the older people remember things back then, and compared to that, even today, despite the current difficulties, “they’ve never had it so good.” For westerners, ready to go out onto the streets at the slightest provocation, this may be difficult to get your head round. But that's how it is in Russia. And this is why Putin's regime will survive.
Back in the 1980s, we in New Zealand exported dairy products to the USSR and were paid in Ladas. So its possible to achieve but I bet those ladas were extremely low valued!
You think Russia is giving back Luhansk, Donetsk, Kherson, Kharkiv and Crimea ? Simpleton? The USA wrecked the petrodollar by proving it is an international financial and Military criminal you simpleton
VTB just decided to throw on a 5% "service charge" on transactions coming from Russia just because they could. Otherwise - months of delay if you don't pay the fee..
What a surprise Trump was talking about easing sanctions on Russia after this drops. I'm not American so i don't support either party, but i can't help but notice this.
Hey Joe I enjoy your podcast buddy . Eighty five years old live in the ozarks and Springfield Missouri area. I prefer you in the office rather than out strolling around on the beach ha ha.
I don't understand how there are payment difficulties when they are transacting in rmb and rubles. A large amount of buying and selling within brics are being done apart from the dollar so it is the west that cannot track the payments or amount of transactions.
Thanks Joe for the update + research , which shows that inspite of all criticism on the ' West' and the rise of China as a economic world power ... the US and EU still have enormous financial leverage on the economic world order to impose sanctions to avoid military conflicts or stop them. China has a massive population and really needs its economy going by trade + exports so they rather stay out of political issues or taking sides in all such matters, what we can see also in China dealing with corrupt African countries etc Same attitude towards RU they don't want to get into a vulnerable position towards their best export customers and would rather see this conflict end asap. Putin wants a military victory at all cost in UA but that may be an empty shell as sanctions won't be lifted any time soon, his country is literally total broke, exports almost zero as in Iran ( which is a very rich country) , no return to the world economic forum, enormous expenses to rebuild cities he destroyed, a hostile population (on the run) etc So what's in this man's head ? Frustration, revenge and megalomania , a very deadly coctail for a leader of such a large country ...
It's not quite as simple as a Tragic Pyramid Scheme . Or a Disastrous game of Global Jenga . It does seem that Several Leaders of Large Countries might be getting desperate .
Just never ever share your personal info. Do online business with a special vague account. I'm never bothered and parcels are being delivered even when I use just my initials as a name ... And I was born 01-01-1900 ...🙂
You think Russia is giving back Luhansk, Donetsk, Kherson, Kharkiv and Crimea ? Simpleton? The USA wrecked the petrodollar by proving it is an international financial and Military criminal you simpleton
Hi Joe, 🦄when my brain is running on fast i listen to you while i listen to music and also read the news at the same time, i can dual task with my brain.(i always have music on in the background) soo i appreciate you talking about things because i can focus in to your voice and take on the information very well while i do other things like check email and discord stuff. Love your work keep up the awesomeness Slava Ukraini ❤💙💛❤
So if you want to do business with Russia you will be paid with formerly fiat currency without value (Rubel) that's turning into a new fiat currency that barely anyone uses (Yuan) and then try to trade that currency with a reserve currency (Dollar/Euro/Yen) That's a whole lot of effort to just get paid. If you even get the Rubels in the first place.
Converting yuan to dollars is likely expensive. The CCP needs foreign currency to preserve the CCP lifestyle. They aren't going to trade their useless yuan for US dollars out of their reserves to facilitate rubles to yuan to us dollars. Rubles to yuan is fine, because both currencies are worth nothing. No one sane is going to trade US dollars for rubles or yuan.
Yuan is one of the most traded currencies in the world as China has a very significant export market. While I agree the Rubel is unstable it's not accurate to say that nobody uses the Yuan while its the currency used by over a billion people just inside China let alone globally
Wonder why Chinese and Russian companies aren’t using the Cross-border Interbank Payment System (CIPS)? This Chinese payment system that offers clearing and settlement services for its participants in cross-border renminbi (RMB) payments and trade. It would seem that this would allow them to avoid US Treasury scrutiny. PS - given Russian government is forcing Russian companies to turn over their foreign exchange earnings to the government, wonder if some of the difficulties is sort of factitious?
They were , China needs basically nothing from Russia , Russia couldn't exist without Chinese products , China can't use Russian monopoly money, Russia is running out or rmb .... Pretty simple. Your idea would be great if the balance were 50/50 60/40 even 70/30 but it's not even close
Joe, you are doing a great job. The way I know this is looking back to the first comments on every post you make, they are all russian bots. They think getting in early on your posts will help discredit your blog. I hope you feel flattered by the attention, they really are running out of tricks.
Im starting to wish I hadn't re-subscribed to this channel. The plugs/advertising are back in the intros again after disappearing for a while. If there could be some consistency in either moving the tacky advertising in the intros or in moving it to the end, then I can just skip past the intros without fear of missing any important information again. Its ALWAYS a bad idea to beg for money before a presentation.
Both Lego and Ecco and some other Danish companies don't want to leave Russia. I think they should get out asap but I also find it a bit unfair that those companies are paying for the crimes of Putin.
You think Russia is giving back Luhansk, Donetsk, Kherson, Kharkiv and Crimea ? Simpleton? The USA wrecked the petrodollar by proving it is an international financial and Military criminal you simpleton
Really? I don't see any effect on Russian war efforts. And why only now and not a year ago? You must be talking about marginal effects. What are the facts? Figures?
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Maria Frances Hanlon, has been an amazing experience.
YES!!! That's exactly her name (Maria Frances Hanlon) so many people have recommended highly about her and am just starting with her 😊from Brisbane Australia🇦🇺
Hi Joe. A little constructive criticism. Something seems off with the camera in this video. The space above your head seems too big. Maybe I'm mistaken, but it just stood out straight away. Ps, another great video by the way. Professional as usual and very informative 👍
You think Russia is giving back Luhansk, Donetsk, Kherson, Kharkiv and Crimea ? Simpleton? The USA wrecked the petrodollar by proving it is an international financial and Military criminal you simpleton
It's nothing new for Chinese Businesses to not pay there bills. In Australia, Chinese Developers are more likely than not to pay there Architects and Engineers.
