Russia's currency has plunged to its lowest level against the dollar since the Ukraine invasion, blowing past the Kremlin's "comfort zone."

  • azimir@lemmy.mlEnglish
    39·
    1 year ago

    A digital Ruble means that they don’t even need to physically print more bills to further devalue their currency. Now they can just either add to a database column or stick a few more blocks on a block chain. Free money!

    • whats_a_refoogeeEnglish
      16·
      1 year ago

      Most money is already digital. There isn’t a paper bill backing every dollar, far from it. No doubt it was the same in Russia.

    • afraid_of_zombies@lemmy.worldEnglish
      6·
      1 year ago

      Also means that a black market is more difficult. If the various LEOs had their way all money would be digital.

      As the currency falls people will start rejecting it. It is either

      1. Inflation, scary levels

      2. Price controls which will lead to shortages

      3. Transactions being completed in an illegal currency such as Euros or USD

      4. End the fucking war, rejoin the human race, and hope that you will he forgiven despite not being worthy of it.