Maybe twenty years ago I recall having many friends and acquaintances insisting that I invest in devalued Iraqi dinar. Their rationale being that when Iraq returned to some sense of normalcy, the value of their currency would somehow make a huge jump in value. I just Googled it and apparently that rumor still runs rampant. So what happens to the Ruble? Say an average family that has likely depleted their family savings since the onset of war just to keep their families fed. I would assume that a persons income would have to rise in direct correlation to the drop in value. A person couldn’t spend their weekly take home on a loaf of bread. So say divine intervention takes place and Putin is ousted, the war ends and normalcy returns to the Russian people. Likely the value of the ruble would rise rapidly. Would that make the average Russian semi-wealthy?
Typically, one would barter/ sell off possessions not necessary for survival, resulting in a reduced standard of living, albeit temporary. It would enable replacement of previously surrendered amenities, and the restoration of the standard of living to which they were previously accustomed.
When you consider that the food production of Ukraine alone is equal to that of Indiana and Illinois combined. Those crops aren't going in the ground. If we don't address this ASAP, there's gonna be a famine of epic proportions. To make matters worse, much of the world's potash come from Russia, China, and Belarus. I hope the Biden Administration has a plan...but I doubt it. In other words, stock up on food now because food prices are about to go up, Up, UP!!!
