Russian ruble is scam

[two.625]

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

[EarnOnVictor]

First, you are too short with what you wrote, and second, it should have been written in the economics section, or better still the speculation section based on the nature of the question.

However, for correction's sake, the Russian Ruble can't default, it's the country that can default while Russian Ruble reacts accordingly to it. And this happens when the country can't fulfil their foreign currency debt obligations.

The last default was on the 27th of June this year and the reason is obvious (western sanctions).

[jacafbiz]

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

He who don't know, don't talk. People need to separate politics and sentiments from reality. Anyone that have been following politics since the beginning of the war knows what is going on, Russia has been sanctioned severely which resulted into the default you are referring to, and they are unable to service their debt, but they are doing better than it is being reported in the media because the media wants you to think along their own talking point. Russia is doing better than some of these European countries if you do your home work well, but it wasn't publicized.

[dimonstration]

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

Because Russia is always involved on a civil war which they waste most of their finances on improving their war power. Rubles is not scam but the government behind it that abusing it to fund their war which the citizen is paying.

I think there’s a high probability for the 4th or more to happened unless they stop wagering war and burn their resources while other countries sanction them to inflict economic damage. Russia is a great country, their government is just focusing on military growth for war.

[serjent05]

The third default happened because of the economic sanction, if Russia keep on doing their things the same way then it is very possible that their fourth default will happen.  After all, we can't expect new things from the same old ways. 

He who don't know, don't talk. People need to separate politics and sentiments from reality. Anyone that have been following politics since the beginning of the war knows what is going on, Russia has been sanctioned severely which resulted into the default you are referring to, and they are unable to service their debt, but they are doing better than it is being reported in the media because the media wants you to think along their own talking point. Russia is doing better than some of these European countries if you do your home work well, but it wasn't publicized.

Media are in cahoots with the government to lie to people.  showing only the good side of the coin while putting all the negative things in the graveyard.  Media only shows the people what they wanted to see and it is very effective reason why lots of propaganda are process through media.

[STT]

Its a certainty, all currencies should be taken as quite certain to default on some timeline.   The only currency Ive read is not listed as defaulting at some point is sterling but its also lost almost all its value so a kind of soft default, in the end its very similar to others not superior or much different.   A hard default does tend to become the news and obstruct business in a country, sterling has some of the oldest contracts and insurance business partly because of its long term currency.   Dollar has mostly taken over the mantle of chief reserve currency in the world and is trying to mimic this controlled decline in its value and so too the longevity and popularity for business especially financial settlements in its jurisdiction.
  Ruble has lost most of its credibility but its also a largely commodity backed economy and currency so I dont believe their doubts day to day are too relevant when its quite certain nations will come to them seeking that energy resource.  Neither China nor India has the oil it requires to match its population so Ruble is not likely challenged near term is my view.

[LittleBitFunny]

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

He who don't know, don't talk. People need to separate politics and sentiments from reality. Anyone that have been following politics since the beginning of the war knows what is going on, Russia has been sanctioned severely which resulted into the default you are referring to, and they are unable to service their debt, but they are doing better than it is being reported in the media because the media wants you to think along their own talking point. Russia is doing better than some of these European countries if you do your home work well, but it wasn't publicized.

The war is still ongoing, and I see that the Russians are still living very well, but if you read the news from the Western press, it is quite the opposite. Just like a few months ago, the US and EU media reported that the Russian military had exhausted its arsenal and could not prolong the war any longer. But so far, the US, Nato, and Ukraine have been unable to stop Russia, let alone make them fail badly.

To be fair, the Russian economy is not immune to the impact of those heavy sanctions. But the EU's economy is not much better, if not worse, than Russia's. If the ruble is a scam, then all currencies in this world are government sponsored scam schemes.

[joniboini]

But the EU's economy is not much better, if not worse, than Russia's. If the ruble is a scam, then all currencies in this world are government sponsored scam schemes.

How are they similar or worse though? Which part EU are you talking about here? Some countries in the EU seem to have different issues from one another, like energy, climate, and so on if those media reports can be trusted. But I don't think it is remotely similar to what Russia gets from sanctions etc.

I think fiat in general is susceptible to manipulation regardless of who issues it.

[Darker45]

Well, there must be certain viewpoints which consider the Russian ruble as a big scam. But if we are to consider the reasons, we might end up generalizing that all fiat currencies are also scams. They may differ in degrees, but since they are all operating under this questionable fiat monetary system, then they are all fraud in one way or another.

First and foremost, these fiat currencies are not backed by any commodity. They are of no intrinsic value. In the absence of any enforcement coming from a powerful entity, these currencies have actually no use value.

[Catenaccio]

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

The Bolsheviks to Putin: a history of Russian defaults

Putin was appointed as a Russian President in December 1999 and despite of his self praise that he helped Russia to be better in finance. It mostly comes from growth of oil prices and the default, the third one in Russian rubble history is no more or less than a confirmation for Putin failures in governing Russian economy.

Russia will repeat its default if its politics won't separate from communism and its economy won't stop relying on oil.

Russia’s 1998 currency crisis: what lessons for today?

[Gyfts]

Be specific in the type of default. It isn't a ruble default. A currency itself cannot be defaulted on if a country is capable of printing more of that currency. Ruble isn't actually a scam any more than any other currency. The 2022 default isn't a currency crisis, Russia's debt is in foreign currency/assets so they couldn't print more ruble to pay off the debt if they wanted. If their economy can't support the amount of debt they have, then ruble crashes along with the Russian economy.

Chance of Russia's economy recovering to avoid future defaults are dependent on how long they choose to occupy Ukraine. Their currency will be strong as long as they keep up energy exports and the price of oil doesn't crash.

[Hamza2424]

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

Oooppss, I don't have any research or information related to the default of Russia and the facts behind it but, if Russia defaulted 3 times previously and going to default again 4th time, I don't think so because Russia currently has a lot of Allies and never forget the natural resources Russia is owning, Probably Russia is one of the Richest country in the entire world from the resources point.

Russia defaulted on part of its foreign currency denominated debt on June 27, 2022 (because the money got stuck in Euroclear), its first such default since 1918 (in 1998 it was ruble-denominated bonds).

This is what I found after a quick Google, I don't know the intention of OP because there is nothing in OP so, leaving it I think now Russia may not default at least in the current situation because Russia is building good relations with the Aisan major countries and more interestingly Russia is developing relations with the Gulf countries on a fast rate.

[Fortify]

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

It's not a scam, it's simply a currency that is controlled by a sequence of incompetent russian governments. Corruption seems to run deep in that country and everyone is willing to screw over their neighbor to get rich themselves. In such a society there is little cohesion and the rot starts at the very top - leaders do not want people that could unite against them, so they try to split people up as much as possible and apply pressure to individuals in the nastiest ways. Unfortunately until Russians free themselves from such dicktators they will be unable to heal this problem.

[BIT-BENDER]

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

Ruble is the currency for the nation Russia and as far as I am concerned a currency is under the control of the government, so expect you can be more elaborate I don't see how what you have said make any sense.

And there is no need to take short at the Russian ruble because at the moment so many other currencies has had their bad days, I don't expect much from currencies been owned by any government, because it may be good now and ones the wrong administration takes over it can go soar, that's still amongst the reasons why crypto-currency is ahead of Fiat.

[Merit.s]

Ruble is not a scam the default in the currency doesn't male it a scam,since we know the reason behind it. The ongoing war and sanction of Russia from the western world has led  to the default in Ruble. With all the sanctions and ongoing war,Russia economy is still far better than some European countries because Russia has abundant of gas. I don't see this default as some drastic,since almost every country currency do default. No currency used by a government is scam. Russia needs to stop the ongoing war and embrace peace for the betterment of their economy.

[BenCodie]

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

The entire fiat money system is a scam, scheme, "long con" etc. Sure, you can look specifically at Russia, while I can look specifically at the U.S., or Europe, Britain, China, etc.

Every fiat money system is doomed to fail the moment that central banking is introduced and next when there is nothing backing the currency. You will never be able to pay the interest that you are owing to the bank on the first dollar that is lent. For example, if $1 is lent to a government at 1%, interest, will the $0.01 come from if that is the only $1 that exists? The same principle applies at scale.

USD have had their defaults, including the global financial crisis and the great depression, as well as crisis' in between. Other fiat currencies are ongoing largely irresponsible monetary policy, including USD, GBP, EUR, AUD, CAD, and more that are controlled by the west. The east have gained dominance in economic power however themselves and the rest of the globe using fiat currencies will all experience the same fate.

[panganib999]

Over the past 123 years, the Russian ruble has defaulted three times. What is the probability of a fourth default?

Lol how much did you lose in forex for you to think that the ruble is a scam.

Countries left and right have defaulted and all that, we don't call them scammers too do we? Economic turmoil is bound to happen at one point in a country's lifetime, it's not something that they have control over especially since the world is ran on fiat and finite resources. To single out a single currency just cause they defaulted, during a crucial economic situation too is just a little stupid in my opinion. Cause if that were to be the case we should start calling every country who defaulted as scammers, USA included cause they are basically just dragging things out with the end game either them repaying their shit which is going upwards of a trillion now by the by, or not paying it outright and letting the whole economic world fall down.

[tabas]

It's still their currency and people on that specific country is still using. Despite of what they've started and we don't like what they've done, their currency is still a currency. Whatever you want to talk about with, next time add some more detailed thoughts on why you think it is and not just going leave some few words and make it left hanging. We've got our own currencies and from the system within the scams are being made by those cons and if it's about default, we know how it works and interest rates are being added on it.

[Argoo]

The war is still ongoing, and I see that the Russians are still living very well, but if you read the news from the Western press, it is quite the opposite. Just like a few months ago, the US and EU media reported that the Russian military had exhausted its arsenal and could not prolong the war any longer. But so far, the US, Nato, and Ukraine have been unable to stop Russia, let alone make them fail badly.

Over the past nine months, Russia has only been able to partially capture the small town of Bakhmut in eastern Ukraine. Now the Armed Forces of Ukraine have advanced and seized the strategic elevations in the north and south of Bakhmut and are shooting Russians there like in a shooting range from artillery. The occupiers suffer heavy losses, but they do not dare to withdraw precisely through the PR of the capture of this settlement. The Russian army in Bakhmut is now in operational encirclement. In the past few days, only near Avdiivka, the situation has become more complicated. In other sections of the more than 1200 km front, the Armed Forces of Ukraine are cautiously and systematically moving forward. This is especially true of the southern front, where the offensive of the Armed Forces of Ukraine is greatly complicated by continuous minefields. Therefore, the Russian occupiers have been stopped for a long time and are suffering a military failure.

Russia is indeed a territorially large country and its depletion cannot be rapid. But a serious rebuff from Ukraine and international sanctions continue to do their job. Therefore, the Russian economy is slowly moving towards collapse.

[FinneysTrueVision]

Defaulting on foreign debt has nothing to do with a currency being a scam. Argentina has defaulted nine times already. Russia's situation is different because it is still capable of paying its debts but sanctions make it difficult to do so. The debt that it defaulted on was denominated in foreign currency so the ruble isn't involved in any way. Interestingly, if US and European banks continue to freeze their funds they might consider repaying their debts with Bitcoin.