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That misses the fairly obvious point that Russia uses Roubles, which it issues. If Russian Gas is sold for any foreign currency amount at all, then that is for
by neilwilson 2y ago
That misses the fairly obvious point that Russia uses Roubles, which it issues.
If Russian Gas is sold for any foreign currency amount at all, then that is foreign currency it can use elsewhere. Russia can maintain the operational plant with its own money.
Market price is irrelevant. Gas is swapped for items Russia can't make itself. Russia isn't interested in foreign tokens. It's interested in foreign made stuff.
- mystified5016 2y agoI can't think of a single example of "minting money to pay for war" ever went poorly for any nation. Nope, not a one. It has certainly never once destroyed a leader or his entire nation.
- bpodgursky 2y agoWWII went badly for Germany but it's important to keep in mind it went badly for everyone else too.
- neilwilson 2y agoGiven that's how all nations conduct war, it would be difficult to see how it could be done otherwise. Keynes' phamplet "How to Pay for the War"[0] is a good description of how the 'minting money' mechanism should be controlled in wartime. [0]: https://archive.org/details/in.ernet.dli.2015.499597 https://archive.org/details/in.ernet.dli.2015.499597