The fate of the world's currencies in the wake of the demise of the dollar. - page 98

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There is a lot of noise around the question of what currency to pay for resources, but in fact the currency of payment is actually a secondary issue, and it is more important in what currency the contract will be denominated, while the volume of exports will not change, there will just be some transaction costs of conversion.

To put it simply, you can imagine that you come to a shop and there the goods are sold not for money but for poker chips or other nickels, so the buyer will just buy exactly the number of chips/funks necessary to pay for the goods and will instantly get rid of them.

Another thing is if the future contracts will be denominated in rubles, then the contracting parties will incur exchange risks because the ruble is more volatile and therefore more money is needed to hedge the risks. The funny thing is that if the ruble sinks by 30-40% again, it will obviously be the risks of the seller of the resources.

Well, exporters are now deprived of the opportunity to receive foreign exchange earnings.

Otherwise nothing will change, so it is not an economic solution, but just symbolic pathos.

Or let someone convincingly prove some advantages... let's see...

 
transcendreamer #:

Drimer is just being constructive, unlike you screamers who don't even know the basics of macroeconomics, throwing in unfounded fairy tale legends and your own fantasies.

knowledge has nothing to do with it.

everything in this world is relative.

You have to explain macroeconomics to someone who's never heard the word before.

and it would be symbolic... "on the fingers".

or you can tell them right away, so that they all understand right away.

So, it's not yet known that there is a rule of etiquette on a forum where everyone is practically good at something.

 
transcendreamer #:

😊 but it would actually be convenient to have a single global currency, a single equivalent of value.

It already exists, it's BTC.

 
apr73 #:

It's already there, it's BTC.

Ready to endure an 80% devaluation on your principal? - welcome to crypto! 😉


 
Aleksey Nikolayev #:

There is no practical sense in loving something that does not and cannot exist) Using any national currency as a reserve currency is potentially dangerous to both the economy of the issuing state and the economy of the world. This is why SDRs have been invented and are slowly being built up - just last year they were dramatically tripled in volume.

The demand for rubles for gas and the reaction to it is a local story within the sanctions war and attempts to counter it.

who needs it - the reserve?

to go and get bread?
 
Renat Akhtyamov #:

Who needs it - the reserve?

Someone who lives on the reserve)

 
Aleksey Nikolayev #:

To someone who lives on the reservation)

♪ in the... ♪

it doesn't make any sense at all.

commodity-money, or money-commodity, whichever, it doesn't matter

there's nothing else in the monetary scheme of things

 
Alexey Volchanskiy #:

What secret secrets?

What secret did I give away? I thought everyone knew.

 
transcendreamer #:

Ready to endure an 80% devaluation on your principal? - welcome to crypto! 😉


yep...and the commodity turnover of crypto (money-commodity and back), it's how much ?

crypto doesn't exist in the real economy. dusty miser

 

it's time to pull arbitrage robots and their derivatives out of the closet.

the no-nonsense chance to switch part of the payments into the national currency, implies quotations of oil-gas-others to the rouble and their futures, options on the MOEX; without this there will be

and this is arbitrage. Until prices settle, arbitrage will rule again

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