I was a little amused by the title of the topic. But later, I found an explanation and the correct link from where the OP got this news.
https://news.bitcoin.com/american-economists-are-baffled-by-an-unusual-situation-as-russias-ruble-is-the-worlds-best-performing-fiat-currency/
But my opinion suggests that apparently, six packages of sanctions are too few for Russia; a seventh is needed, and if possible, several more, so that we can stop being surprised at the extreme survival of this country.

However, during the second week of April 2022, Bitcoin.com News reported on the country’s central bank slashing rates and pegging the ruble to gold. At the time, Russia’s central bank pegged the price of RUB to 5,000 rubles for a gram of gold. Russia also made it so “unfriendly” countries are forced to pay for gas with the ruble. Numerous international buyers are complying with the rule and paying for petro products in rubles. The country’s central bank also slashed Russia’s benchmark bank rate as well.

I feel that Bitcoin became much more like a commodity than a currency for most people, investors and the mainstream media. Although we in bitcointalkuse it as a currency , that is not the reality for most people.

I must say that this war led me to a number of disappointments. Among them is the disappointment in the lack of care about the ideas appropriated by the Western world as their central values: freedom, human rights, democracy. Leading genocide scholars concluded that Russia's war against Ukraine is genocidal in its nature, and that there's an imminent risk of genocide. All the signatories of the Genocide Convention are legally obliged to prevent genocide. But they aren't doing it, and are letting atrocities after atrocities to build up, many hesitating to strongly help Ukraine in the war and weighing human lives against profits. Then there's this huge risk of decades of progress in eradicating hunger being eliminated right now by Russia's war, and again, it's not a good enough argument to do everything they can to stop Russia. There are countries that are really doing so much, and there are those that are barely doing anything. They don't care about dying civilians, raped children, famine or anything else, really, as much as they care about profits and the growth of their economies. It is very unfortunate that it turns out there are only a handful of countries who truly believe and are ready to sacrifice something for democracy, for saving innocent lives. And I'm sorry that because of the hesitance of certain countries that could help cripple Russia's power but decided against it, more innocent lives will be lost, including those who'll die from hunger.

Russia is not the only country that is affected by the sanction. It is true they are not earning from their trade export goods but Russian people are also not suffering from food shortages like EU and African countries did. Cooking oil become a delicacy in some European countries. African and some middle eastern country is having a hard time with food shortages due to a lack of wheat supply.

A cashless policy is an economy that runs operates on zero cash. Not as if there will be no cash in circulation, but it will be done digitally and can be fully traceable.
Now, with countries experiencing inflation, the best way to curb this inflation is by using this method of going cashless as there will be no much paper money in existence.

Why do you want to talk about inflation here?

Example 3. Fiat currency system. This system is characterized by the possession of currency units created by the banks. And now the test: are people who invested in this system able to benefit without selling the currency units to new investors? Yes. The banks are in the business of issuing loans to borrowers and securing the loans with collaterals. That's how the currency units are created in the first place. When loans are granted, the borrowers go to the market with currency units and trade them with people for their goods, services, and labor. In other words, people invest these goods, services and labor in the fiat currency system. Finally, based on their loan contracts, the borrowers have the liability to return the currency units back to the banks. So they are forced to work for people who hold the units. Alternatively, they are forced to sell goods and services to these holders. And that's how the holders of fiat currencies are able to benefit without new investors. But what if the borrowers default on their loans? Well then the banks will first seize the collaterals. And then sell those collaterals to people who hold currency units. That's because these units are the liabilities of the banks and the banks must withdraw them from the market to liquidate the unpaid loans. The collaterals of the borrowers are therefore the second way how the holders of the currency units are able to benefit without selling these units to new investors. This system therefore also passed the test. It's not a scam.

As big of a scumbag Jamie is, at least he actually understand the world of finance.  Elon is not an economist nor is he a financial advisor of any kind.  Elon is notorious for speaking on things he does not understand (cryptocurrency being one).  Not to mention he loves to try an manipulate markets.  I dislike him almost as much as Jamie.


That's exactly right..the expect for these types of fines because they know they'll get away with more than they get caught, and the benefiting (profiting) of it greatly outweighs the fines.  Working in finance is actually what let me to my love for bitcoin, and namely big banks.  Having gotten to understand the industry and working with institutions the big banks are notoriously the most corrupt of all.  I hate Chase with a passion and passionately sell against them any chance I get.

Let go of the nukes in your coven, then we can talk.

Jamie Dimon is one of the most corrupt human being on the planet, and runs one of the most corrupt companies on the planet.  JP Morgan Chase bank has over 36 BILLION dollars in fines just since the year 2000 ( https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase ).  The guy would sell his own mothers soul if he thought it would benefit Chase. 

As a financial advisor I've worked directly and indirectly with most of the major financial company players, and I can tell you first hand how awful and corrupt Chase is.  I've also had several close friends who've worked for them and they all agree. 

So moral of the story being, don't fully trust anything this scumbag says.  Just remember his main goal is to profit off of you, period.

It was painfully obvious that pretty much every company wanted to profit from it. Just look at how many companies released some sort of branded face mask...face masks which aren't even that effective compared to surgical masks or better yet rated face masks. However, they were selling them with the premise that they would help. It was disgusting beyond belief.

Then you had people basically buying toilet roll, and bottled water on mass, and trying to sell it with a massive chunk of money on it. If anything, the pandemic proved to me how much people actually care about people, which isn't a lot, and how much they value money, which is the number one driving factor of most people's existence, which is sad to think.

I do understand that this isn't exactly their doing, we're pressured to think like this by our economy, but that doesn't make it any less wrong to do.

In my country (India), we have a strange situation. The gasoline and diesel prices have increased only by around 5% during the last 6 months. The reason is that the government reduced taxes on fuel, and then asked the public-owned refiners to subsidize the fuel. PSUs such as Indian Oil Corporation are incurring huge losses for every liter of fuel they sell on market. Now I don't know for how long they will be able to continue with this system. Because at some point, the subsidies need to stop. Else these companies are going to become bankrupt.

I am on this form to save people from scam. Governments destroyed nothing. Borrowing business of the banks and the borrowers is still going on and those who hold shares in this business (fiat currency) are still receiving goods, services, labor or collaterals from the borrowers. It is just that they receive less due to inflation.

It is just that they receive less due to inflation. But, all businesses have ups and downs. Why do you mention the borrowing business in the forum about shares in the nonexistenent business?

Ok, so I read the text ten times and I don't see any paragraph quoting either a FED spokesperson or from BOA or anything that is not a personal opinion and 3 words paragraphs extracted from god knows what context.

Yes, that's the story you must preach because you're not able to return your investment from the system whose certificates you hold. You need new investors and you must trick them to buy your worthless certificates by talking about decentralization, empowerment, how your certificates will save the humanity, make poor people rich, how they are equivalent to Jesus, and so on.  I understand what you're doing. It's just that people don't buy this nonsense anymore.

One may say that it's not a real deal as they will do it via 3rd party service (in this case Flexa) but its a good news nevertheless and a step in right direction. Expecting that these big chains accepts bitcoin directly is kinda naive