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Not sure if I am particularly good at macroeconomics, but it looks like Russia is trying to one-up the US in Law of Unintended Consequences on this one: intelligent-partnership.com/paper-gold-vol

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Euvie Ivanova

@euvieivanova

Mar 30

Russia just pegged the Ruble to Gold. This... is a big deal. twitter.com/Ben64319554/st…

Cinder

@Triquetrea

Mar 30

Absolutely hilarious-and-or-tragic global effects ahead.

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I don't know. While I'm not some mega expert in global finance, I'd also say that, in my opinion, you're asking a question that nobody is qualified to answer.

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Cinder

@Triquetrea

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@0bviouSquirre1

Most deals are brokered off the backs of implicit structural stability. Currency reserves aren't seized at random (LOL NOPE), the US dollar is the dominant reserve currency (LOL NOPE), everything runs on oil and gas, or else just-in-time everything falls apart (LOL NOPE)...

4:34 PM · Mar 30, 2022Twitter Web App

Replying to

and

States everywhere are refinancing their reserves, and markets for actual physical economic assets like precious minerals, fertilizer and petrol markets are in shambles. Supply chain infrastructure failing to meet demand due to shortages and other failures along every axis.

Replying to

and

Nobody knows what the new currency standard is, but the petrodollar has just been nuked in a massive self-own. Not to mention any number of ostensible US allies are now backing out of Western-led economic partnerships. The actual effects of all this? Hard to calculate! But bad!

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