The Ruble is Now Officially the Strongest Currency in The World
By the end of May the Russian ruble was officially declared the strongest currency in the world. (1) In the first two weeks of June its value continued to increase and then stabilize at a rate that Russia hasn’t experienced in years. (2) Amazingly, this is only part of the unprecedented upswing that Russia’s economy has been experiencing over the last month and a half.
Russia’s Inflation and Interest Rates Are Falling
The fact of the matter is, Russia is winning the economic war. The sanctions are completely backfiring. (3) This past Friday, the Russian central bank reduced interest rates from 11% to 9.5%. This occurred after it was confirmed that the prices of energy and food in Russia had fallen to a level that enabled the bank to confidently decrease its rates. Inflation rates in Russia, after rising initially in March, began evening out in May and then falling in June.
An Astonishingly Quick Economic Resurgence
Near the end of this past week, the governor of Russia’s central bank, Elvira Nabiullina, announced the aforementioned aspects of Russia’s economic upturn (4) in a tone that appeared to be one of astonishment. The fact is, no one expected economic activity in Russia to rebound this quickly, and no one expected interest rates to be falling this soon.
Meanwhile In The West And In Other Parts Of The World
Contrast the current conditions in Russia with what’s going on in the West. Gas prices in the US are ranging from $4.75 to $7.50 per gallon right now, with future reductions nowhere in sight.The prices of food and energy have risen in the US and the forecast is for more of the same for the rest of 2022 into 2023. Similar and in some cases worse economic downturns are being experienced all over Europe and the UK. This is prompting countries like Italy, Germany and France to begin to move more and more toward pushing for a settlement and away from escalation. (5) In other countries like Somalia the sanctions have produced extremely dire consequences, like increasing poverty, homelessness and starvation. (6)
On Top Of All This
On top of all this, the current indications are that Russia’s economy is going to remain in a steady upturn due to an influx of new energy and food export clients in Asia, Africa and India.(7) Of course, this will all be framed by the corporate Western media as a result of Putin’s winning the information war in the East. In actuality though, countries around the globe are tired of being bullied, pushed into debt and in many cases destroyed by the United States. The truth is that these countries are quite happy to do business with a partner who may not end up treating them like birds of prey. They’re happy to take a shot at possibly not being robbed and stripped of their resources by the US.
Zelensky Will Likely be Used as a Scapegoat by The US and NATO
Lastly, be on the lookout for the US and NATO to start scapegoating in their usual underhanded post-proxy war fashion. All indications are right now that Volodymyr Zelensky is going to be framed as their next patsy. Zelensky will end up being subtly and in some cases overtly blamed for all the reckless, ridiculously ignorant, greed-propelled decisions that his Western instructors have been instructing him to carry out. In fact, The NY Times and The Guardian, along with a host of other establishment neoliberal publications, are already setting him up for the fall. See citations (7) and (8) for samples of the distant oncoming engine hum that will soon transform into the sound of the loud screeching tires of the bus that Zelensky will end up being thrown under by the US and NATO.
- https://africa.businessinsider.com/news/despite-sanctions-and-boycotts-russia-could-still-rake-in- dollar800-million-a-day/fjtgh55
- https://www.reuters.com/article/russia-cenbank-nabiullina/russian-central-bank-governor- speaks-after-cutting-interest-rates-idUSKBN2NR11K
- https://theweek.com/emmanuel-macron/1014127/we-must-not-humiliate-russia-says- french-president-emmanuel-macron