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Offline mike623317

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BitRUB?
« on: November 26, 2014, 01:11:00 AM »

Did you see that Jim Rogers is now bullish on Russia and the russian ruble?

I wonder when BitRUB will come online.

.. Just putting it out there.

M

Offline kokojie

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Re: BitRUB?
« Reply #1 on: November 26, 2014, 02:24:31 AM »
uh what's his reasoning? Russia is engaged in a war against Ukraine. US and Europe are not liking it.

Online Shentist

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Re: BitRUB?
« Reply #2 on: November 26, 2014, 06:14:43 AM »
if you want bitRUB just ask and as again for feeds. without feeds no one will be able to trade.

so far i didn't remember anyone demanding RUB feeds.

Offline mike623317

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Re: BitRUB?
« Reply #3 on: November 26, 2014, 11:58:41 PM »
uh what's his reasoning? Russia is engaged in a war against Ukraine. US and Europe are not liking it.

On bloomberg he said cos they have almost no debt, huge foreign currency reserves & convertible currency.
By the way, today gold in terms of RUB is up as USD is flat.

Offline donkeypong

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Re: BitRUB?
« Reply #4 on: November 27, 2014, 01:04:49 AM »
And they're losing $140 Billion per year due to the current cheaper energy prices + Western sanctions.

http://money.cnn.com/2014/11/24/news/economy/russia-losing-140-billion-oil-sanctions/index.html?hpt=hp_t2

Basically, think of Russia as an oil company. That's the bulk of its economy. So if you're bullish on higher energy prices, then you're bullish on Russia. If you think energy will remain cheap for awhile, then Russia is not a good investment for the time being. I happen to think it's going to stay cheap for a year or two. Beyond that, it's hard to forecast. In the longer term, we have run out of most cheap energy sources, so barring some (more) technological breakthroughs, energy prices will skyrocket like they did when supplies started to squeeze in 2008 or so. Over time, energy (and probably Russia) is a great place to put your money, but it may be some years before your investment there appreciates.

 

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