The Ruble Rubble
Tue, 2016-02-16 22:00
News Staff
By Tom Haughey
Another day, another dip. Up until a couple years ago the ruble was trading at a stable 30 to 35 rubles to the dollar. Now it takes over 81 rubles to buy a dollar (or a dollar’s worth of foreign imports). Two years ago when the collapse began, Russians were lined up for blocks trying to buy euros or dollars. With the current dip, however, there are no lines. The people have used up their savings and have nothing left with which to make such purchases. Putin, of course, has over 50 billion dollars he’s stolen from capitalists he’s put in jail, but that money is all in stock, metal, or hard currency. He’s about the only man in Moscow that isn’t worried.