3min chapter

Ones and Tooze cover image

The Fall and Rise of the Russian Ruble

Ones and Tooze

CHAPTER

Is Berlin Bending the Truth Maybe a Little Bit Otte for Public Consumption?

Up to a billion dollars a day appear to be flowing towards russia. Money flows into the russian financial system, around the central bank,. and helps supporte the r Russian financial system at its moment. Because it gets flipped into roubles, it helps to support the currency in particular. The reason why the russians can't buy semi conductors is that an semi conductor manufacturing corporation won't deliver them any more. So we are in a kind of perverse situation in which Russia runs a huge trade surplus. It gives us its oil and gas. We pay them in greenbacks or uraus they can't use. And that, in a sense, is the absurdity of a country

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