The fate of the world's currencies in the wake of the demise of the dollar. - page 13

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Alexandr Saprykin:

The dollar will end if all US creditors decide to demand a settlement all at once. The US national debt is growing every year. That's basically what the dollar is secured by? Nothing.

Delusion. The US has a highly developed private sector, while the government makes a semblance of managing the economy. The dollar has the same relative value as it did 100 years ago. It is a fact to be admired rather than predicted of imminent doom. I have been to the U.S. and have seen with my own eyes how hard they work for their business, but they do not advertise this side of their activities, and in the movies they show only what can be shown. The result is a strong, independent economy. We simply have to learn from their industriousness and not interfere with private enterprise.
 
I can only say one thing, 1861 notes are accepted for payment, that's stability, so those who are burying the dollar are unlikely to wait for this event in this lifetime)
 

And once upon a time there was.))

 
Alexandr Saprykin:

And once upon a time there was.))

In theory. In practice, the exchange rate was 1 dollar to 7 roubles
 
Дмитрий:
In theory. And in practice, the exchange rate was 1 dollar to 7 roubles

In practice? You probably mean that as individuals you were not allowed to buy currency? And the rate you mentioned was for speculators. But when travelling abroad, it was possible to exchange a small amount of money for dollars at the official rate.

 
Alexandr Saprykin:

In practice? You probably mean that as individuals you were not allowed to buy currency? And the rate you mentioned was for speculators. But when travelling abroad, it was possible to exchange a small amount of money for dollars at the official rate.

A small amount was given. Enough for sandwiches. Not enough for souvenirs. Not at all for books, clothes and equipment
 
Дмитрий:
A little was enough for sandwiches. There was enough for sandwiches. Not enough for souvenirs. Not for books, clothes and equipment at all.
The rouble was not a freely convertible currency back then. As far as I know, currency was exchanged for currency cheques on the way back from abroad.
 
Alexandr Saprykin:
Well, the ruble was not a freely convertible currency back then. The currency on arrival back from abroad was exchanged for currency cheques as far as I know.

Don't get your head in a twist. The fact is that your exchange rate is not gradually real, but nominal. And the real dollar/ruble exchange rate has been different from the nominal one since Khrushchev's monetary reform.

 
It was not dollars that counted material values back then, but roubles. And dollars were not even needed by the vast majority of people back then.
 
Олег avtomat:
It wasn't dollars that counted tangible assets back then, but rubles. The vast majority of people did not need dollars back then.

Yeah. And, for example, nylon mackintoshes, sheepskin coats, jeans, anaraks, tape recorders and other things that were not made in the USSR and bought with dollars

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