BREAKDOWN: Russia’s Plan to Force the World to Use Rubles
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 9 April 2022
⏱️ 18 minutes
🧾️ Download transcript
Summary
Can Russia leverage energy exports to undermine sanctions?
This episode is sponsored by Nexo.io, Arculus and FTX US.
On this edition of the “Weekly Recap,” NLW looks at the latest news regarding Russia’s economy. Vladimir Putin is trying to leverage energy exports to prop up the ruble. But can he really make Europe and the rest of the world pay with rubles? And if he does, what are the implications for the U.S. dollar as a global reserve currency?
-
From cash to crypto in no time with Nexo. Invest in hot coins and swap between exclusive pairs for cash back, earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head on to nexo.io and get started now.
-
Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com.
-
FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today.
-
Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022.
-
“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Manuel Augusto Moreno/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.1 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:15.0 | The breakdown is sponsored by nexo.io, Arculus, and FtX, and produced and distributed by CoinDesk. |
| 0:22.8 | What's going on, guys? It is Saturday, April 9th, and that means it's time for the weekly recap. |
| 0:28.8 | And this week, we are checking in on the Russian economy. Before that, however, if you are |
| 0:35.0 | enjoying the breakdown, please go subscribe to it wherever you listen to podcasts, give it a rating, leave a nice review, and if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit.lee slash breakdown pod. Also a disclosure, as always, in addition to them being a sponsor of the show, I also work with FTX. |
| 0:56.8 | Finally, I would love to invite you to come join CoinDesk's Consensus 2020. |
| 1:02.7 | The event is taking place this June 9th through 12th in Austin, Texas. |
| 1:07.9 | And the thing that makes consensus such a different type of event is that it is truly a |
| 1:11.8 | big tent event. It is highlighting all aspects of this industry from specific cryptocurrency |
| 1:17.8 | ecosystems to Bitcoin to Web3 to Metaverse, NFTs, etc. It's got tracks for people who are more |
| 1:24.6 | enfranchised as well as for people who are newer. And there's great speakers |
| 1:27.8 | like Kathy Wood, CZ, Punk 6529, SBF, and many, many more. You can use code breakdown to get 15% |
| 1:36.2 | off your pass if you go to coin desk.com slash consensus 2022. It should be a great time. |
| 1:43.4 | All right, so we're doing a bit of a macro geopolitical check-in |
| 1:46.5 | today, and quickly before I get into Russia, I wanted to flag one small thing that happened this |
| 1:51.2 | week with the Fed. At a speech on Tuesday, Fed Governor Lail Brainerd said balance sheet |
| 1:56.2 | reduction is coming soon. Remember, balance sheet reduction is another term for quantitative tightening, |
| 2:01.9 | and as you might guess, it's the opposite of quantitative easing. Instead of buying assets and |
| 2:06.5 | thus putting liquidity into the markets, the Fed sells assets and thus removes liquidity from |
| 2:11.2 | the markets. Now, they actually don't sell assets into market exactly. It's more a process |
| 2:16.2 | of letting bonds expire. But in either case, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.