Putin calls the U.S. a Parasite on the world

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Schadenfroh

Elite Member
Mar 8, 2003
38,416
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Says the man who helped the overlords of The Soviet Union suck the life out of Eastern Europe...
 

LegendKiller

Lifer
Mar 5, 2001
18,256
68
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Says the guy whose country defaulted on their debt, devalued their currency in 1998 then further devalued it drastically in 2008 leading to inflation of over 10%. Further, the same guy's own currency is pegged to a basket of the USD and Euro.

Who, exactly, is the leech? Allowing your currency to be pegged to another currency allows you to avoid having to appreciate/depreciate your currency, thus making your goods' prices move in lock-step with the other currency. Thus, if you want your goods to be cheaper, you just devalue your currency to a fixed peg and then flood your competitor's/peg's market with cheap goods.

Leech indeed.
 

gevorg

Diamond Member
Nov 3, 2004
5,070
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...Further, the same guy's own currency is pegged to a basket of the USD and Euro.

Who, exactly, is the leech? Allowing your currency to be pegged to another currency allows you to avoid having to appreciate/depreciate your currency, thus making your goods' prices move in lock-step with the other currency. Thus, if you want your goods to be cheaper, you just devalue your currency to a fixed peg and then flood your competitor's/peg's market with cheap goods.

Leech indeed.

You've mistaken Russia for China.
 

ayabe

Diamond Member
Aug 10, 2005
7,449
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If I'm not mistaken, doesn't Russia owe us money from back in the Yeltsin days? Or was it one of those "Israeli loans" which is really a gift?

Were it not for oil prices Russia would be as broke as a joke, which is yet another reason why we need to get moving on alternative sources