Russia is falling into chaos with its money losing its value FAST. Fox News explains how the Russian ruble has lost over 50% of its value this year, and it’s lost over 15% of its value this week alone. It did slightly rebound the other day and was up 5%, but that’s because Russia is now tapping into their $400 billion pool of foreign reserves. They also plan to sell as much foreign currency holdings as they need to in order to support the ruble. They have already used $75 billion from the reserves to help the ruble’s value since the beginning of 2014. Russia has sold more than $10 billion in foreign currency in December, and nearly $2 billion on Monday alone. Their natural resources and foreign currency holdings may become depleted faster than we think. The Russians are quickly losing faith in the recovery of their country, as they are rapidly exchanging rubles for American dollars and other currencies. It is such madness that foreign exchange booths are struggling to keep up with the demand for dollars and euros. The sign on the window of this bureau in the tweet says “We have no $ to sell and no € !”
— МК (@mkomsomolets) December 17, 2014
The ruble is the world’s worst performing currency, right along with the Ukranian hryvnia. The cause of the sharp decline is “due to the sinking oil prices as well as the impact of Western sanctions imposed over Russia’s involvement in Ukraine’s crisis.” The Russian people are looking to Putin for plans to deal with the upcoming recession, insane inflation, and the value of wages falling. Only a month ago, Russia made deep healthcare cuts and closed down several hospitals. They’ve spent billions fighting in Crimea and upgrading their military, so they had to cut the last thing they had, which was healthcare. That sure helped with the ruble crashing as well. While there was once a time that some American financial analysts feared that World War III would start with Russia in the near future, the fact of the matter is that they are broke, so financing a war would soon destroy them. While the ruble is crumbling fast, Russians still take to the internet with relentless humor, refusing to go down without a good laugh. One Twitter user posted this picture with the title, “Star Wars: The Fall of Ruble,” comparing the fall of ruble with the fall of the Galactic Empire.
Another user posted this picture on Twitter that created a treatment for a sick ruble. It includes a plantago to “cure” ruble’s wounds, bandaids, and an icon of St. Matryona, which is believed to have a gift of healing.
Рубль, не болей pic.twitter.com/rofCNRYs7x
— Александр Сидякин (@A_Sidyakin) December 17, 2014
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