Hacker News Reader

If they backed their ruble with gold, the war would be over in a week. The Russian economy is functioning (barely) because they can print as much rubles as they need to pay the soldiers and factory workers.

"Easy money, easy wars, hard money, hard wars".

The Ruble has devalued against the Euro by almost exactly the same amount. What am I missing?

They moved away from “petrodollar” a while ago.

But what difference does it make?