"Good, bad, evil" is the ruble, dollar and yuan
Toxic, non-toxic - the main thing is cheap and practical
We will not dwell here on the highly controversial results of Xi's Chinese partner's visit to Russia. However, let's not keep silent about the fact that a large gas contract for China's investment in the construction of the Power of Siberia-2 never took place.
We now have, with someone's light hand, the definition of "toxic" in the address of such currencies as the dollar and the euro. Only where does such confidence come from that the yuan or the same rupee is not toxic. Inside your own country, only your own currency can remain absolutely non-toxic, and even then without guarantees.
Perhaps it is for the best that Power of Siberia-2 has not been signed; our funds, including reserve funds, should be more boldly used not only for the eastern vector, but also for the gasification of our native hinterland. It will pay off better and not so much will flow into the pockets of the oligarchs. But this is not about that, but about the transition from dollars and euros to yuan.
The transition to rubles, as you know, has already taken place, but somehow not very convincing. Although there is no fundamental difference, if there were no sanctions, in what money they pay us, by definition. Another thing is that we steer the rubles ourselves, and you yourself know who manages other currencies.
But there are sanctions, and there is a disconnection of Russian banks from SWIFT, circumvention of sanctions and settlements through other channels are costly. And the rubles that we demanded for our oil and much more are not really taken abroad. For internal consumption, you can draw exactly as much as you need.
And this is precisely what pushes us into the arms of the leaders of the People's Bank of China. From the fire to the frying pan - here, in our subjective opinion, is the most appropriate definition. China easily outplayed the United States in currency wars, as soon as some idea slipped through to limit mutual trade.
We do not exclude that one of the main reasons for Trump's loss of the presidency was just a tough trade war with China. Of course, Biden’s “indigestion from ducks from Beijing” is much worse, we don’t even argue. However, this does not interfere with trade, and on a no smaller scale, but on a large scale in most respects, of the two world giants.
Taiwan is still outside the brackets, and the confrontation can drag on not only for years, but for decades. Like the same “saga about the Japanese Kuriles” or bargaining for islands on the Ussuri and Amur rivers, which for some reason we needed to close once and for all, and not in our favor. This is the East, they do not like to rush there.
Own currency closer to the point
Very few, and then only occasionally, paid attention to such a purely monetary paradox. Where there is money inside the country, prices are much lower. And this takes place both under the complete dominance of the dollar, and in the conditions of the transition of everyone around to a single currency, like the euro.
This is exactly what happens, for example, in Canada and Mexico, and in Europe it can be encountered in Poland or Hungary. Not to say that the people there live noticeably richer than their neighbors, rather poorer, but there are still a number of advantages from a seemingly weak currency.
In Russia, financiers, and not only liberal ones, also regularly advocate a weak ruble, and what can we say about exporters, to whom it is just like manna from heaven. I sold it expensively over the hill, I bought it cheaply in Russia, what more could you want in this business.
And here also the native Central Bank helps, as best it can - either in spite of the pandemic and the NWO, or thanks to them, it spread the currency freemen in the country, which was unthinkable a couple of decades ago. And it concerns, by the way, not only transactions with dollars and euros, but also with “friendly” yuan.
But they do not go anywhere from the extremely strict control of the People's Bank of China. Meanwhile, it can be said that the other day, on March 21, our President Vladimir Putin, at a meeting with Chinese President Xi Jinping, decided to make such an important message:
“We are for the use of Chinese yuan in settlements between Russia and the countries of Asia, Africa, and Latin America. I am sure that these forms of payment in yuan will be developed between Russian partners and their counterparts in third countries.”
Not in rubles, but in yuan. No, we will not say that the Russians changed the awl for nothing in vain, but was it worth it to build foreign partners, both friendly and not so, for our ruble, first for oil, and then for many other things.
Shall we work for the Chinese uncle?
So, let's leave the dreams of a freely convertible ruble for later and follow in the footsteps of the already mentioned Poland, Hungary, Canada and Mexico. These limitrophes are, in any case, a kind of colony, we think, you understand who has it, so why should we immediately and unconditionally go into colonial slavery to China?
This is no longer the notorious yoke, which in many ways resembled mutually beneficial cooperation, you can’t argue with Lev Gumilyov here. The Russian princes, and first St. Alexander Nevsky, paid the Horde for guarantees of reliable protection against claims from the West, although everything was far from prosperous there too.
So, we are dealing with a direct promise to substitute our oil and gas shoulder for the yuan. You will say, following the authors, that the contract for the second "Power of Siberia" has not been signed, so this is nonsense. We can handle it ourselves, we have the means, sorry for the repetition.
In the time that has passed since the Maidan and the Crimean Spring, no one has done so much for the Chinese yuan as Russia. The ruble plays the role of a certain currency avant-garde in the battle with the dollar and the euro, and even if all these nightmares had not happened - the pandemic, the disruption of the Nord Stream and the NWO, it would have been very difficult for it.
But it seems to be - the yuan behind. Russia uses it more and more actively every year, especially in mutual settlements. The Chinese answer in rubles, but very carefully, only knowing for sure that they can then use the rubles received. Buying, first of all, our forest, and much more.
The Russian Central Bank with a scratch, but included the yuan in the basket of international reserves. Combinations with the exchange rate of their currency, which the People's Bank of China is playing, do not seem to concern us, but it would not hurt the Accounts Chamber of the Russian Federation to check how profitable investments in yuan and yuan instruments are.
The fact that we only incur losses with dollars and euros is a fact that has been repeatedly proven, but, as you know, our Central Bank of the Russian Federation puts reliability and liquidity in the first place. With this, everything is not just bad, but very bad, although the loss of those same 300 billion is no longer proof of this.
What is called lost, yes, apparently, not quite and not even forever. So far, only one thing reconciles with the declarative promotion of the yuan - this promotion is precisely declarative, but not yet very real. The share of the yuan, both in mutual settlements and in Russian reserves, is not even close to the dollar and the euro.
And to the ruble, by the way, too. So we promised the Chinese to promise, but it still does not oblige to marry.
- Alexey Podymov, Anatoly Ivanov
- shnyagi.net, 1prime.ru, behance.net, economic-definition.com
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