We’ll be going through a default stage very soon!!
Russia has already led the way forward on defaults.
They have more international bond debts due fairly soon with an estimated probability of 95% defaults.
You are ignoring the 800lb gorilla in the room.... they are defaulting because of frozen assets and trade embargoes... not because they are broke and produce nothing! You liberals are a special kind of stupid. Hard commodities versus fiat money... hmmm seems real goods has value... worthless fiat, not so much. Your boy Biden is playing a dangerous game and we the people are just beginning to suffer from it
irfubar: You are correctly assessing the situation. Russia is not broke, but we are.
Let’s see.
We are broke but the rest of the currencies world are presently flocking to the usd$ as a haven of safety.
The whole western world and for that matter China and Japan are broke. It is all being propped up like a very shaky house of cards.We owe $30 TRILLION that will never be paid except by monetizing it. Which is default.
Russia is not broke and is heavily armed. And being led by a very determined man.
Patriotism (and religion) is the last refuge of a scoundrel.
