Jul 31, 2022
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Ruble strengthening: pros and cons

Ruble strengthening: pros and cons

Ordinary citizens, as a rule, think that the growth of the ruble against the dollar is a positive fact for the economy and ordinary citizens. However, qualified economists say that here this fact is not at all unambiguous.

Prominent Russian economist, deputy of the State Duma Mikhail Delyagin believes that the strengthening of the ruble can hurt several categories of Russian citizens at once.

The most vulnerable group of the population in such a situation are those who bought the currency when it was at its peak. Now, when the ruble has risen to 55 per dollar, such people are not only offended and unpleasant – they have really lost a lot. But they themselves are to blame.

– I said in December last year that in the coming year the dollar in the first quarter could grow to 100 rubles or more, but then a rollback to at least the previous positions will follow. They did not listen – they themselves are to blame, – Mikhail Delyagin sums up.

The second category of Russians, who were hit hard by the rapid strengthening of the ruble, are quite wealthy people who for many years formed their savings in foreign currency. True, in the end they will not suffer if the dollar returns to the corridor of 70-80 rubles per dollar.

The third group of people who do not benefit from a strong ruble are exporters. The fact is that they receive less ruble revenue per unit of goods sold in cases where dollars and euros begin to become cheaper.

Another well-known Russian economist has his own view on this problem. Mikhail Khazin. He believes that the global financial system, based on the dollar, has practically exhausted itself. He is confident that soon the American currency will no longer be the same for the entire globe. It will remain one of several regional currencies. In this case, and this is obvious, its cost will be greatly reduced.

– The elite itself will not want to keep capital in dollars and will look for an alternative way to save their money. The main asset that will be valued among the rich people of the planet will be land, – the economist explained.

It is for this reason that the most advanced and far-sighted representatives of the world business elite, including the American billionaire Bill Gates, began actively buying up land. And not only in the US, but also in other countries.

But ordinary, very poor citizens living from paycheck to paycheck should not follow this example. Just like buying cereals for the future. It is better to unite in communities, rent land together for 49 years and cultivate it. The time is coming when physical labor will again be in demand more than the activity of office plankton, over which we laughed for a long time and looked at with contempt. As they say, for what they fought, they ran into something. Now – receive, sign …

Andrey Knyazev.


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