RE: Russia Holding Bitcoin As Part Of Reserves

7 mo
LeoFinance
0 Min Read
53 words

The only question is how without SWIFT they will use bitcoins, which, in the end, need to be exchanged for the ruble? Yes, someone will bypass the sanctions, but most of the bitcoins, for many residents of the country of bears, will become a pear that cannot be eaten.

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SWIFT is not a monetary system it's just a method of interbank transfer system, they can and have set up credit lines with ruble/yuan, ruble/Indian rupee which is the currency of 2.4 billion people, more than Euro and USD so I think they'll be fine.

They can then hold their excess reserves in cash/Chinese or Indian bonds, bitcoin, or precious metals, while other countries have also started to set up ruble reserves and purchase Russian bonds to prepare for the trade they'll need. We can already see that with the likes of Iran

The 600 billion may have been a hit but they still have one of the better balance sheets of any government, apart from the likes of Norway. Being so commodity-rich like Russia means you have future revenues you can count on, there's always a buyer for commodities. Regardless of what the west says they'll have to capitulate eventually which they'll probably do by purchasing through 3rd party resellers

The way I see it, the Russian economy has all the cards, what is it honestly importing from the West that it required credit lines with USD and Euros anyway? A marginal percentage that is clearly not impactful as we can judge from the marginal effects sanctions have had on their economy

As inflation and supply chain disruption continue, they are also bagging a premium for their resources, in this commodity bull market we're in right now.

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Yes, sometimes you think about one thing and talk about another, I wanted to say .. without MasterCard and Visa

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Yes you are correct, but they've already moved to join up with Chinas UnionPay according to Bloomberg which has a massive profile in 180 countries and is interoperable with a lot of networks already. I think that's more of a hit on MasterCard and Visa, since they are competing with UnionPay so you've effecetively handed over a massive market to your competitor

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I don't think China is stupid enough to get between sanctions. Yes, for now, they threw a bone at the bear, but only so that they could soon grab him by the balls.

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Russia and china have a good relationship, China doesn't have access to the commodities Russia has like rare metals and due to their energy needs they are becoming more reliant on Russia.

In addition, they run joint military operations on their Eastern side, which very few countries do themselves, because you need to have real trust in one another

Now that Russia has proven the west sanctions are a bee sting, China has no fear of the west

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You know, I don’t know what your belief is based on that China is ready to cooperate with the country of connecting rod bears, but I rely on some unshakable things in the policy of communist China, namely, on the works of Mao Zedong, on which. the entire vertical of power and external political and external economic relations are built on the foundation.
In fact, for China, today's Russia is a traitor to the communist ideology, and no one is on ceremony with traitors. Yes, the Chinese will smile sweetly, nod their heads that everything is fine, but their main goal is to take everything and not give anything away to those whom, according to these works of the ideological inspirer of China, they consider their enemies. This, if in a nutshell). And one more thing, a bee sting leads to the fact that many Russians leave Russia and ask for asylum even in Kazakhstan, in a country that they, even in a nightmare, did not consider as a place where they will spend the rest of their lives. This is a small fraction of that. what's happening. China can also obtain rare earth metals in South America, Malaysia, or South Korea. at worst, without the risk of falling under the rink due to sanctions.

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this is all narrative with zero backing I am only providing facts and following the money, you believe what you want, i'm not here to convince you. I am interpreting facts

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Perhaps you have read the writings of the Great Mao, if not, read and you will understand that my beliefs are based on facts written on paper, which are passed down from generation to generation by the Chinese.

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