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The John Batchelor Show

#Russia: Ruble sinking toward 100 per dollar, FX suspended.. Michael Bernstam, Hoover Institution.

The John Batchelor Show

John Batchelor

Society & Culture, Arts, News, Books

4.52.8K Ratings

🗓️ 11 August 2023

⏱️ 10 minutes

🧾️ Download transcript

Summary

Photo: 1934. No known restrictions on publication.
@Batchelorshow


#Russia: Ruble sinking toward 100 per dollar, FX suspended.. Michael Bernstam, Hoover Institution.
https://www.bloomberg.com/news/articles/2023-08-09/ruble-weakens-toward-100-per-dollar-for-first-time-in-16-months?cmpid=BBD080923_CEU&utm_medium=email&utm_source=newsletter&utm_term=230809&utm_campaign=closeeurope&sref=5g4GmFHo

Transcript

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0:00.0

This Sunday were lied from the home of smart energy use three Akasha drive and Dave Davo peck him off to a ployer

0:06.2

Bat's cooking next week's meals off nice nutmeg and now the washing machines on then straight into the hiding

0:12.7

Please see for the home side thanks to the hard price electricity brim British gas full-time Davo saved it all for Sunday

0:20.1

Now he can enjoy the football get half-crest electricity every Sunday with British gas peak safe

0:25.5

Sunday's 11 to 4 and 24th of September season C's apply smart me to require

0:35.6

This is CVS I am the world. I'm John bachelor. I welcome Michael Bernstom the Hoover Institution my guide on the Russian economy under severe sanctions

0:45.2

More than a year into the war there are mysteries to solve

0:49.9

About the Russian economy subsidized greatly by the Russian government pouring rubles into the hands of Russian

0:57.7

citizens in order to abate the

1:00.4

Protests or the descent from a very difficult war for the Russian military and for the people who are losing sons and fathers and daughters

1:09.7

We come now to the story of the rubble Michael a very good evening to you last week

1:15.5

You were keen to talk about the rubble approaching 100 euro per euro per euro, which is has a premium on the dollar this week

1:24.9

However, I got very excited when I saw the reporting saying the rubble is approaching

1:31.2

100 per US dollar is that of significance? I know I know it's not there yet, but it's certainly intended to get there

1:39.8

There is a thing in the United States that in the United States the most important political

1:45.9

Measure is the rate of unemployment and the presidency can be won and lost on that and Russia's the most important political

1:54.0

Measure is exchange rate how many

1:57.4

Rubles you get for the dollar and how many dollars you get for rubles. So now you have to pay

2:02.4

97.5

2:04.4

Rubles to get one dollar it used to be 50 just a year ago. So

2:10.8

This is this means that the rubble almost half lost almost half of its value and because

2:19.5

oil is

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