Putin Demands Rubles For Gas, Refused Nabiullina Resignation
If you've been "unfriendly" to Russia lately, you may need to pay Vladimir Putin in rubles for any gas you still want.
"I have taken a decision to switch to ruble payments for our natural gas supplies," Putin declared, during a Wednesday chat with Kremlin officials, who were told to "stop using the compromised currencies in such transactions."
To state the obvious, there's only one "compromised currency" in this equation, and it's not the dollar. It's not the euro or sterling either.
The decr
I assume Nabiullina is wearing a Darth Vader mask or pin, but obviously it’s challenging to obtain recent photo ops from Moscow. Maybe she needs a rouble floating in a vodka tumbler with a twist, stirred not shaking?
“Bank of Russia Governor Elvira Nabiullina confirmed what the market has been thinking this year: The brooches she’s worn after key rate meetings are clues to understand policy decisions.”
Wait a second.
Several days ago I posted a snip about Putin demanding most Russian corporations using forex markets to sell all their positions, thus converting foreign currency back into devalued roublcoins.
By now demanding payments in roublcoins, there will obviously be a shortage in the real world, effectively, theoretically driving up artificial demand for roublcoins.
Instead of having currency tied to stable currency pegs this further unhinges Russia from reality, thus one can readily understand why the head of their central bank would want to go hide.
How will this new isolated roublcoin situation impact the nascent Russian crypto coin/subway token value and all the underground dynamics with their amigo’s?
This seems more and more like a trumpian pr Twitter spasm where crazy like a fox shock is intended to offer soap opera like jawdrops, as people collectively say, what’d.
It’s as if Putin has been eating contaminated baby food from Nestle.
Love the Nabiullina inflation quote…she’s channeling Powell
H-Man, I agree that Nabiullina is a very smart banker who has tendered her resignation to Putin twice. So maybe create demand for rubles by requiring payment in that currency. So where do I buy rubles, naturally Russia. How do I pay for the rubles? Russia says not dollars or euros or any currency. Pay with gold or crypto. Russia stabilizes the currency and builds reserves while creating more demand for gold and crypto. Not a bad game plan when you have limited options. A barter system with rubles being an intermediary.
Self sanctioning is the best sanctioning.