[-] Teapot@hexbear.net 27 points 1 year ago* (last edited 1 year ago)

Any leftist government that is going to survive the capitalist American hegemony will necessarily be authoritarian, yes. https://youtu.be/5BybTX3qQiU&t=2m20s

[-] Teapot@hexbear.net 2 points 1 year ago

This post (towards the bottom) has some good info on why Russia needs other currencies https://simplicius76.substack.com/p/ukraine-commits-last-remaining-elite

[-] Teapot@hexbear.net 6 points 1 year ago

Sure, I'm just saying why "autarky" isn't viable.

A weak currency is going to push up inflation by making imports more expensive, and Russia already has a problem with inflation. The increase in interest rates should push against both those issues

[-] Teapot@hexbear.net 8 points 1 year ago

They export a lot of oil and gas

[-] Teapot@hexbear.net 20 points 1 year ago

When the Russian interest rate is higher, there is a greater demand for the currency, and the value of the currency rises relative to other currencies. This is just the bank protecting the ruble

[-] Teapot@hexbear.net 14 points 1 year ago

That's a Wagner style patch

Teapot

joined 2 years ago