The USD is not really a stable currency anymore since Trump started his war on the US economy, it lost 12% against the Swiss Franc for example.
Europe
News and information from Europe ๐ช๐บ
(Current banner: La Mancha, Spain. Feel free to post submissions for banner images.)
Rules (2024-08-30)
- This is an English-language community. Comments should be in English. Posts can link to non-English news sources when providing a full-text translation in the post description. Automated translations are fine, as long as they don't overly distort the content.
- No links to misinformation or commercial advertising. When you post outdated/historic articles, add the year of publication to the post title. Infographics must include a source and a year of creation; if possible, also provide a link to the source.
- Be kind to each other, and argue in good faith. Don't post direct insults nor disrespectful and condescending comments. Don't troll nor incite hatred. Don't look for novel argumentation strategies at Wikipedia's List of fallacies.
- No bigotry, sexism, racism, antisemitism, islamophobia, dehumanization of minorities, or glorification of National Socialism. We follow German law; don't question the statehood of Israel.
- Be the signal, not the noise: Strive to post insightful comments. Add "/s" when you're being sarcastic (and don't use it to break rule no. 3).
- If you link to paywalled information, please provide also a link to a freely available archived version. Alternatively, try to find a different source.
- Light-hearted content, memes, and posts about your European everyday belong in [email protected]. (They're cool, you should subscribe there too!)
- Don't evade bans. If we notice ban evasion, that will result in a permanent ban for all the accounts we can associate with you.
- No posts linking to speculative reporting about ongoing events with unclear backgrounds. Please wait at least 12 hours. (E.g., do not post breathless reporting on an ongoing terror attack.)
- Always provide context with posts: Don't post uncontextualized images or videos, and don't start discussions without giving some context first.
(This list may get expanded as necessary.)
Posts that link to the following sources will be removed
- on any topic: RT, news-pravda:com, GB News, Fox, Breitbart, Daily Caller, OAN, sociable:co, citjourno:com, brusselssignal:eu, europesays:com, geo-trends:eu, any AI slop sites (when in doubt please look for a credible imprint/about page), change:org (for privacy reasons)
- on Middle-East topics: Al Jazeera
- on Hungary: Euronews
Unless they're the only sources, please also avoid The Sun, Daily Mail, any "thinktank" type organization, and non-Lemmy social media. Don't link to Twitter directly, instead use xcancel.com. For Reddit, use old:reddit:com
(Lists may get expanded as necessary.)
Ban lengths, etc.
We will use some leeway to decide whether to remove a comment.
If need be, there are also bans: 3 days for lighter offenses, 7 or 14 days for bigger offenses, and permanent bans for people who don't show any willingness to participate productively. If we think the ban reason is obvious, we may not specifically write to you.
If you want to protest a removal or ban, feel free to write privately to any of the mods: @[email protected], @[email protected], or @[email protected].
I don't mean to nitpick, but this has most likely more to do with the US dollar's weakness -deliberately(!) brought about by the new boss in the White House- than with the ruble's strengths. Trump and his administration -especially Stephen Miran, the newly appointed chair of Trump's Council of Economic Advisers- have long communicated the willingness to weaken the dollar to improve the U.S. trade balance. (Some argue Trump's action will rather lead to a higher U.S. budget deficit and the end of the USD hegemony, replaced by some Central Bank Digital Currency, gold, and maybe some other commodities. If interested, Hungarian-American economist Zoltan Pozsar was likely the first who proposed this afaik.)
The currency games have an effect on everyone. China which has been hit hardest by Trump's tarrifs, sees it's yuan at a 17-year low at the moment, at around 7.3 CNH for 1 USD, and the Chinese Central Bank is calling on commercial banks to limit purchases of USD, despite the tariffs conundrum, at least this is what analysts say so far and what we see in the numbers.
It's hard to tell what happens tomorrow, but I wouldn't bet on Russia's currency nor its economy in the long run.
[Edit typo.]
I feel I'm doing Putin a favor by comparing him to this amazing piece of internet history but here we are.
Things have really been looking up for Russia. They got a new vassal state, got the US to all but pull out of the Ukraine war. Good times.
Why did you mention the USA twice?