Russia’s fiat currency is nominally the RUB, or ruble….but that is a “fiat” currency. A fiat currency is money backed by nothing but goodwill, no gold, no assets, no substance, nothing tangible…
Russia’s real currency is oil and gas and a whole bunch of other resources not the least, fertilizer. Watch the USA and EU try to grow food when they cannot get cheap fertilizer…
This real Russian usable and supported tangible currency is rising against every other currency in the world….gas and oil are the life blood of the worlds economy’s…
This seems like a subtle, but important subtle distinction, almost everyone is ignoring, but which the USA and the EU will notice when the availability gives Russia some unappreciated options…
There is more to life than fiat printing presses, GPD, debt and facades…
WtR