this statement "sovereignty from west", make no sense , they have business with the west( keep in mind russian government was in control of all her resources ) ... so, how sovereignty has in danger by make business with the west? .....with china, agree because now they have no other choice
Yes, Russia China's lost province since Yuan Dynasty. Mao wanted to get it back, he even made Russian one of China's 56 minorities. So Putin is the governor not the President.
That’s the BRICS I guess it’s never going to get off the ground and now the ruble is only wallpaper and Russians are going to have to pay up with the yuan sad news but invading Ukraine was the worst nightmare Putin never saw coming
Barter is nothing new for China-Russia trade. Back in 1989 after Tiananmen sanctions were imposed, 40 bushels of Chinese apples could be exchanged for one Russian Lada car. We joked that it was 40 bushels of apples for one lemon.
I found your channel via a comment made in another channel that mentioned you. Great information and excellent economic stats and graphs and details. So, my advice to everyone is, don't stop commenting on any videos you watch and helping to point people in the right direction in order to become more informed and educated. Think of it like visiting some new restaurant and eating an amazing meal and telling all of your friends and coworkers about it. I trust a personal recommendation more than I do advertising. 👍
The same technique as with Chinese banks can be applied to crypto providers. This will be on crypto providers to provide guarantees that they don't facilitate payments breaking sanctions. Saying "my business does not have capacity or technology to do that" will lead to business not only lacking capacity, but also having secondary sanctions.
@@jakobole Possibly to an extent. For crypto transfers to be significant for the Russian government they have to transfer billions of $ on a monthly basis through crypto providers. Thats a lot of money to hide once the other side starts actively searching.
@@jakobole once burden of proof and validation to ensure that transaction is legit is on crypto providers - all schemes and tricks become their problem to deal with. They will post-haste modify their processes and technology to ensure they are not sanctioned out of business.
@@jakobole you better hope your banks use secure lines to do your transactions. the moment they see a vpn and a huge sum being moved, it gets flagged as sus.
I really wonder, why would a person do what you did here? Is it like going into the forest an screaming out your frustration? But that doesn't make any sense, why would someone do that in a public space like the internet. Or is it to virtue signal? But what are the chances an ally sees this and confirms this signal, they've got to be abyssmally small. Or is it to look cool? No, can't be that either, because it makes you look weird at best. Please, enlighten me. Why do you do what you do? I like Putin as little as the next guy, but I don't make a fool out of myself while holding this opinion. What is different for you?
@@danielmiller3781 dayum, thats harsh. But you can't tell me you take people serious who use "Putler" as a word. Well, maybe danielmiller3781 can... if you can, mind explaining the thought process behind it?
Is there a way to know what is going on with the insurance companies in Russia? With all the fires which are speculated to be caused by businesses that are about to go bankrupt going for insurance, are they having to make payouts? Is this another mail in the Russian economy? Are they finding loopholes?
Given how often russians tend to stick to agreements they've signed, I'm confident that collecting from a russian insurance company is...extremely difficult.
it is difficult even in my country... estonia... they will find a way not to pay, same thing in US... i would expect it is hellhole now in russia and insurences are scams for those companies that actually need them to operate....
I could only understand insure my car in Moscow by half its value. The system there is a so stupid. A lot just keep a bunch of cash in case of an accident!
Barter . . . A tried & true way to get what you want since pre-history. Of course cumbersome & won't get what you want from countries that don't want to barter.
It's the very meaning of "trade". Historically large amounts of goods were exchanged instead of being purchased with money. Money is only found at the end of the chain, such as point of sale. That's no longer the case in a modern economy
Perhaps in 20-30 years Brics can get a common currency working…I am doubtful. See how long it took the EU and they are all democratic countries in the same continent.
Brazil wants China to buy grain but China bought all its wheat from Russia, so Brazil is setting on a lot of corn. Who are they going to sell it to???? China has really problems. Once they sell all their US and European bonds--they really have to deal with the problems in their banking system and currency. The members of BRICS WANT all of China's buying but instead they are getting very little because China needs trade and investment from the US and European and this money is RUNNING away.
It is more than unlikely that China and India will agree on a common currency in the next 20 years. Moreover, Russia will have absolutely no say in the matter; Russia's economy is simply too unimportant for that.
Also you have countries like China and India in the same group and I doubt that they would like to share a currency, given the territorial claims they lay on each other.
So am I to understand India and China are going to bury the hatchet and economically compete against the western economies . Okay, business is business then
I have never understood why any country would allow an unregulated currency to operate within there borders which can be used for illegal business, IE: drugs, sex, and trading with Russia?
@@floydlooney6837 I mean, sure, but regulation makes it harder among other things for criminals to make money through illegal means. A "Free" Economy isn't nessiscarily a good economy, monopolies forcing you to pay five times as much for food and utilities. And why would anyone compete unless forced to in such a capital heavy industry? Plus, in a free economy then there are no consequences for screwing everyone over just to make 0.5% more profits that quarter. Do you think the 2008 financial crisis happened because the economy was too regulated? Or not regulated enough? People exist that will happily sell medicine that will give you AIDS/HIV because it's too valueble to destroy the product so they just ship and sell it anyway.
Not making up to a million before retirement is unfulfilled retirement.!! I’m 54 and my wife 50 we are both retired with over $7 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock and forex market made it possible for us this early, even till now we earn weekly.
Russian rubles are essentially Monopoly money at this point. No one around the world wants its currency. I wonder if North Korea would accept rubles? Just a curiosity, would the two most sanctioned countries in the world accept each other's currencies?
@@dadaist5846, seems like North Korean knew that their own currency is useless long ago. If so, it is unlikely that they will be accepting other useless currencies from other highly sanctioned countries like Russia. With the current "cooperation" taking place between Russia and North Korea, chances are they are working on some sort of bartering exchange system. I guess I should not be surprise by this; after all, there are no honors among thieves. They are clearly not going to actually trust each others systems. 😁
I've heard mortgage rates are 20%+ now, I heard car loans are over 30%. Car payments could take almost half the average income while rent is around half. How would anyone live like that?
The bit about bartering with Russia reminds me of one small series of events in the 1970's (or was it the 80's?) whereby the New Zealand Dairy Board accepted Lada cars in payment for milk products sold to the USSR (the USSR had a problem obtaining hard currency at that time). The NZDB then on-sold these cars into the NZ market. Needless to say, the cars didn't have a great reputation. One joke of the time went like this... A man driving a Lada drives into a Petrol/Gas/Service Station. He says to the attendant "Can I have $10 of petrol for my Lada", the attendant says " sure, that sounds like a fair swap".
Russia: You are all vassals of the USA! ! USA: How do you define vassal? Russia: You conquered them with your economy and currency! USA: So you are a vassal of China? 😅
China has bad relations with India, Vietnam - Russia is activating diplomacy toward them. Also North Korea is kind of switching it's sugar daddy from China back to Russia. That's the main thing. Sovereign countries are doing business and having relations with other countries solely based on their economic or security interests. Now tell me why Germany can't trade with Russia, Iran, and soon China as well?? Why Germany is still in NATO if expansion of NATO led to the war and blowing out of North Stream and all of that? What kind of infrastructure China blew-out in Russia to be remotely comparable?
How is India profiteering from trade with Russia given the current sanctions? I would be very interested in your data collections as this is of great concern particularly when PM Modi has declared that he is a "friend" of the war criminal Putin.
It’s nigh on impossible to regulate Crypto. Can’t see where you’d even start to try. You can use crypto to bypass banks and currency controls by sending Crupto via email. By the way I don’t own any Crypto
Back in 2022 when btc was at its cycle low, people where saying btc is done for it's going below $15k US it's going to zero. Well it's down 10% from mid March ath 2024 and now everyone is shitting themselves. That doesn't make any logical sense especially for crypto.Its just a shake out phase, chill people go zoom out at old charts. We are at around 1.4 trillion market cap and only growing, just wait and see the price next year in March it will double....I've been engaged in active trading and managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin....I'm especially grateful to Rafa Manuel, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
@@paulurban2472 you ok? he just stated facts: - Pootin has special military operation - Free World has special economic operation i.e. sanctions what don't you get about that? or was it the winning part??? well, bot, look at that: since 2 years you are on your "3-day-to-Kyiv-operation". Ukraine has halted the 2nd strongest army of the world time and again. I could cite MUCH more facts, but I'll just leave it at that. so, who's winning? apparently NOT Pootin. Idk if anyone's winning, but your second coming of Stalin definitely isn't. but hey, don't despair: in 3 days you'll be in Kyiv.
Russia is winning the war, that's certainly obvious to everyone not hopelessly indoctrinated. As for any special economic operation, I guess you are referring to the sanctions. So far common man is not noticing too much change. Some food items have become more expensive.
It's EXTREMELY comforting that your audio portion as well as the imagery is ACCURATE. I'll take the "free content" for as long as you deem it acceptable. Stay current. Be safe; be healthy; and, be happy. tc
100% agree that number-crunching through blockchain transactions is a perfect job for AI, Joe. As you mentioned, every transaction is indelibly recorded and it wouldn't take long for a specific AI programme to sort out legit v's non legit. It's going to open a massive can of worms and, personally, I can't wait to see what emerges into the daylight! Very interesting vid, thanks for that.
Not really. AI provides nothing beyond what a simpler search engine would do that would be helpfull here. We already know what we're looking for, all that's left is iterating over the data to look if it's there.
Glad to see people are slowly realising cryptocurrency is not anonymous, it is even more transparent than any bank transaction. every transaction is publicly viewable by anybody forever. The wallet holder may be anonymous, but once you have a point where it connects back to a fiat account you can pull on that thread and unravel the whole thing.
There is no way Chinese Bank will refuse or closed their doora to Russia business.If they show you or tell you anything about refusing to transfer or do business with Russia it is a big lie
What I found interesting was the chart showing what China is buying from Russia, it is pretty much limited to energy products, not manufactured stuff. I agree with some of the others posts that Russia has become a subservient client of China, hardly what Putin was hoping for when he invaded Ukraine. As far as Crypto currency is concerned I don't understand how it works so have not spent a lot of time researching it.
2:58 maybe the second video of yours I've watched this is fun. Always up for some exposure to some new art I think it's critical that you make sure people know how to research the artist this is fantastic.
Trump will for sure try to withdraw from NATO. All support to Ukraine from the US will probably stop as well. Beyond that - hard to say. What I do know is that T's personal and family bank accounts will grow as a result. Heck he may even get some prime real estate for a tower in downtown Moscow.
I would like to raise a couple of points regarding Russia’s potential use of crypto-currency as a transaction payment system designed to avoid Western sanctions. My first point relates to your recent video explaining how: a) as a direct consequence of Western economic sanctions, many Russian companies are now conducting business in Chinese yuan, (including loans, transactions and deposits); and b), how the yuan-ization of the Russian economy will have severe consequences for the Russian economy, most notably with regards to any future increase in official interest rates. As you stated in your video, Russian companies conducting business in Chinese yuan would be insulated from the impact of an increase in Russian interest rates. Instead, the full impact of any future rate rises would be wholly borne by those Russian businesses and citizens who are still using the ruble, thereby creating a death spiral within the Russian economy between those who remain subject to the decisions of the Central Bank of Russia and those who have successfully managed to disengage themselves from the impact of any increase in official Russian interest rates. So, based on your analysis, I would posit that the same assessment would also apply to those businesses trading in crypto-currencies in order to circumvent Western sanctions. In short, they would also be insulted from any potential future interest rate rises announced by the Central Bank of Russia. Furthermore, any Russian companies conducting business in both Chinese yuan and crypto-currencies would therefore provide themselves (and their shareholders) with two potential avenues to disengage from the Russian financial system. It would be interesting to know what the amount of transactions being conducted in both yuan and crypto-currencies are as a percentage of Russian GDP. This might give an indication of the size and scope of the problem for the Russian economy. Indeed, given how one of the main attractions for using crypto-currencies is that they are deliberately designed to operate outside any central bank governance, it would be very interesting to know how the Russian authorities intend to regulate (or, if indeed, it is even possible for them to regulate) this parallel financial system. The second point I would like to raise is indicative of the hypocrisy at the heart of the Russian mentality. Notwithstanding the reason presented above that Russian companies are conducting business in crypto-currencies in order to circumvent Western sanctions, Russian President Vladimir Putin recently blamed crypto-currency mining for a spike in electricity consumption as the direct cause of rolling blackouts in many regions across Russia and Russian-controlled Crimea. In any economy, rolling blackouts (especially if they continue over a sustained period of time) result in lower productivity, thereby having a negative impact on the national GDP. I find it ironic that Putin would rather blame crypto-currency mining for rolling blackouts rather than confront the reality of aging infrastructure coupled with an increase in consumer and business consumption of electricity (caused by several days of unseasonably hot temperatures in excess of 40 degrees celsius) as the actual causes of the blackouts. So, on the one-hand crypto-currency is GOOD because it helps the Russian economy evade Western sanctions (“Ha,ha, aren’t we clever. We have outsmarted the West/US/NATO”), while on the other-hand crypto-currency is BAD because mining crypto-currencies causes blackouts, which would ultimately have an adverse effect on the Russian economy. This is typical of the Russian mindset: You get to choose which reality you wish to believe in at any given point in time, while knowing that you have the luxury of being able to ignore the broader implications of your decision. Black is White, and White is Black. George Orwell would be proud!! www.msn.com/en-us/news/world/putin-blames-cryptocurrency-mining-s-impact-for-russia-s-power-shortages/ar-BB1q97xB?item=themed_featuredapps_enableD?loadIn=defaultBrowser#:~:text=The%20surge%20in%20cryptocurrency,according%20to%20President%20Vladimir%20Putin.
This is really an old story that Joe is recycling: the central banks of Russia and China do not use Crypto currency to exchange goods and/or services; it used to be banned, but now it's legal for others (banks and corporations) to use Crypto. China would prefer BRICS transactions to be expressed in Yuan; which might suit China and Russia, but not all members are in agreement. Since I've never heard of a bank refusing payment; I think Joe's (rather sensational) headline refers to Chinese banks no longer accepting payment in dollars from Russia; it means they are not subject to American sanctions, same if they use their own currencies. (Since trade between these countries is increasing; they've clearly found an alternative). Since some Russian banks (back in April) were offering to buy dollars at Rb50, sell at Rb200, it seems the intention is to wreck the Russian "dollar economy". Russia is a major exporter of: coal; oil; gas and grain, to China, so the issue is more about what China trades in return; since they have expressed complete disinterest in getting involved in the conflict in Ukraine it won't be weapons (also with large hikes to American military budget and the increase of American military bases near China, they are building up). These proposed secondary sanctions would raise questions like, does a Chinese shovel or a washing machine aid the Russian war effort? While when it comes to profit motivated corporations and banks finding ways to avoid: sanctions; tax and sometimes common decency; they can lead governments in a merry dance. It does seem the jury is still out regarding Crypto currencies; their use; their worth, even whether Crypto can legitimately be called a currency (since it's not backed by GDP, or a country). Also, since money deposited in a bank no longer belongs to the depositor (legally it belongs to the bank); the American government is actually freezing bank assets (not Russian). Another one for the lawyers, I guess; but another reason to avoid the dollar. All this concern over Russia and China, when the Western economy has been systematically asset stripped; I believe it just serves as a distraction and an excuse to export more public money. Ukraine and Russia agreed; neutrality, or war... Ukraine chose poorly (and that's their problem, not ours) If you've any solution to the looming UK national debt crisis; I'm sure #11 Downing St would like to know; we can't keep printing money forever (or can we?).
You are "earning your money" for this series.Not only is the USA giving Ukraine money towards earning their freedom but they are also taking a financial hit when all the sanctions are added up.
On the AI comment, yes, if there is one thing that all machine learning models excel in its pattern matching, thats all they are huge, huge, pattern matchers.... So applied to all those transactions (assuming the dataset is there) then a model to investigate source and destination would be possible and likely what the US are using to determine who sends what to who and when and for what!
Joe, you're always good to listen and no doubt all your facts are well-sourced. But you've been over-estimating Russia's economic difficulties, or at least how badly they would be affected by them, from the outset.
It would also be interesting to know at what rate Russia can convert its roubles into tether. Certainly not at the fantasy rate quoted by the Russian central bank.
Thanks Joe.Very informative video, as always. Finally, a real world use for cryptocurrency. However, I expect that the US will quickly shut down this use of any stablecoin linked to the USD, and it is not surprising that Tether say they will cooperate with US enforcement agencies.
Russia was eager to show his "sovereignty from west", but failed to notice own "lost sovereignty to China" :P
this statement "sovereignty from west", make no sense , they have business with the west( keep in mind russian government was in control of all her resources ) ... so, how sovereignty has in danger by make business with the west? .....with china, agree because now they have no other choice
"North China" is sacred chinese territory since ancient times!
Yes, Russia China's lost province since Yuan Dynasty. Mao wanted to get it back, he even made Russian one of China's 56 minorities. So Putin is the governor not the President.
Chinese too smart to accept rubles as real money.
That’s the BRICS I guess it’s never going to get off the ground and now the ruble is only wallpaper and Russians are going to have to pay up with the yuan sad news but invading Ukraine was the worst nightmare Putin never saw coming
Objective: Make the Ruble an alternative to the Dollar.
Result: Made the Ruble an alternative to bottle caps.
Bottle caps keep their value, they are made out of real metal or plastic and can be recycled....The Ruble? Not so much.. I choose the bottle caps..
@@SideWalkAstronomyNetherlands yeah at least bottle caps serve a purpose 😂
@@SideWalkAstronomyNetherlands Naughty
The Heineken bottle cap does have a red star. Highly valuable.
bottle caps are future proof too
Barter is nothing new for China-Russia trade. Back in 1989 after Tiananmen sanctions were imposed, 40 bushels of Chinese apples could be exchanged for one Russian Lada car. We joked that it was 40 bushels of apples for one lemon.
The 'apples' are definitely the better part of the exchange!
Your joking I use to live in Ukraine the amount of lads still going some 30-49 years old they just keep going .
Crap car though
A lemon! Wonderful.
@@jameswhitbread7173lads are still alive in Cuba too. Glad I never had to use one.
I found your channel via a comment made in another channel that mentioned you. Great information and excellent economic stats and graphs and details. So, my advice to everyone is, don't stop commenting on any videos you watch and helping to point people in the right direction in order to become more informed and educated. Think of it like visiting some new restaurant and eating an amazing meal and telling all of your friends and coworkers about it. I trust a personal recommendation more than I do advertising. 👍
China to repossess Russia 😂😂
Coming soon...
It's a Chinese Special Repossession Operation.😂
Russia already has territory that had belonged to China and China has not forgotten so maybe they will start there.
Not so funny as you think. Britain took control of Egypt in the 19th Century by just this method.
This is honestly a real development. The Eastern northern parts of Russia are likely to be Chinese soon.
Once more a great explanation - Thank U for that
Good Work Joe. You are like my secret weapon for information.
The same technique as with Chinese banks can be applied to crypto providers. This will be on crypto providers to provide guarantees that they don't facilitate payments breaking sanctions. Saying "my business does not have capacity or technology to do that" will lead to business not only lacking capacity, but also having secondary sanctions.
If you don't hold it, you don't OWN it...
But couldn't they just use vpn to make it look like legit transactions between legit countries?
@@jakobole Possibly to an extent. For crypto transfers to be significant for the Russian government they have to transfer billions of $ on a monthly basis through crypto providers. Thats a lot of money to hide once the other side starts actively searching.
@@jakobole once burden of proof and validation to ensure that transaction is legit is on crypto providers - all schemes and tricks become their problem to deal with. They will post-haste modify their processes and technology to ensure they are not sanctioned out of business.
@@jakobole you better hope your banks use secure lines to do your transactions.
the moment they see a vpn and a huge sum being moved, it gets flagged as sus.
Hey Putler!!! "It is nothing personal, JUST BUSINESS!!!"
I really wonder, why would a person do what you did here? Is it like going into the forest an screaming out your frustration? But that doesn't make any sense, why would someone do that in a public space like the internet. Or is it to virtue signal? But what are the chances an ally sees this and confirms this signal, they've got to be abyssmally small. Or is it to look cool? No, can't be that either, because it makes you look weird at best.
Please, enlighten me. Why do you do what you do?
I like Putin as little as the next guy, but I don't make a fool out of myself while holding this opinion. What is different for you?
@@e4arakonbro did you read what you wrote? Youre different 😂
@@Schlabberdabadu That looks like a bot that's barely know how to write comprehensive messages to me lol.
@@danielmiller3781 dayum, thats harsh. But you can't tell me you take people serious who use "Putler" as a word. Well, maybe danielmiller3781 can... if you can, mind explaining the thought process behind it?
@@e4arakonyou think too much
Is there a way to know what is going on with the insurance companies in Russia? With all the fires which are speculated to be caused by businesses that are about to go bankrupt going for insurance, are they having to make payouts? Is this another mail in the Russian economy? Are they finding loopholes?
Given how often russians tend to stick to agreements they've signed, I'm confident that collecting from a russian insurance company is...extremely difficult.
it is difficult even in my country... estonia... they will find a way not to pay, same thing in US... i would expect it is hellhole now in russia and insurences are scams for those companies that actually need them to operate....
I could only understand insure my car in Moscow by half its value. The system there is a so stupid. A lot just keep a bunch of cash in case of an accident!
Under Insure I meant
Great video thank you for the information provided keep smiling and be happy
Thanks Joe for the update and all the information you provided… 💙💛💙
Secondary sanctions coming soon
"it's a 3-day-special operation"
Brilliant news, thanks for sharing much appreciated 👍 Slava Ukraine
Barter . . . A tried & true way to get what you want since pre-history. Of course cumbersome & won't get what you want from countries that don't want to barter.
It's the very meaning of "trade". Historically large amounts of goods were exchanged instead of being purchased with money. Money is only found at the end of the chain, such as point of sale. That's no longer the case in a modern economy
@@intractablemaskvpmGy people still have to trade for the type of money they need, Petro Dollar works off of it
Always watching from Argentina!
How's it going over there. Is milei getting things together?
GOOD LUCK WITH YOUR RECOVERY
Hooo boy; good luck to you! 😬🙏
Greetings from Sweden
Succinct and illuminating explanation of a complex topic as always!
Putler: "Everything is going according to plan!"
It is. Putin is working with china to have a competing currency such as the digital yuan.
4d master player 😂
What plan is THAT?
Putin is doing so well that he has extended the 3-day military operation to 3 years
@@bamahama707 I don't think they had one and if they did its the worst plan in human history.
Joe, very good detailed work.
You're one of a kind.
Maybe the Kremlin shouldn't have invaded Ukraine.
The US Treasury Department is underappreciated.
Perhaps in 20-30 years Brics can get a common currency working…I am doubtful.
See how long it took the EU and they are all democratic countries in the same continent.
Brazil wants China to buy grain but China bought all its wheat from Russia, so Brazil is setting on a lot of corn. Who are they going to sell it to???? China has really problems. Once they sell all their US and European bonds--they really have to deal with the problems in their banking system and currency.
The members of BRICS WANT all of China's buying but instead they are getting very little because China needs trade and investment from the US and European and this money is RUNNING away.
It is more than unlikely that China and India will agree on a common currency in the next 20 years. Moreover, Russia will have absolutely no say in the matter; Russia's economy is simply too unimportant for that.
Also you have countries like China and India in the same group and I doubt that they would like to share a currency, given the territorial claims they lay on each other.
So am I to understand India and China are going to bury the hatchet and economically compete against the western economies . Okay, business is business then
It’s funny some countries think they 2 steps ahead of America 🤣🤣🤣🤣🤣🤣🤣🤣it’s just the opposite
Joe that was a fantastic piece of investigation! Amazing!!!!
Great video as usual Joe , I look forward to your clear analytical videos
Thanks Joe!
I have never understood why any country would allow an unregulated currency to operate within there borders which can be
used for illegal business, IE: drugs, sex, and trading with Russia?
How can you disallow an unregulated currency? Unregulated means unregulated.
Unregulated.... you mean a free economy?
You realize that 95% of those transactions happen with regular money right? Are you that slow?
@@floydlooney6837 I mean, sure, but regulation makes it harder among other things for criminals to make money through illegal means. A "Free" Economy isn't nessiscarily a good economy, monopolies forcing you to pay five times as much for food and utilities. And why would anyone compete unless forced to in such a capital heavy industry? Plus, in a free economy then there are no consequences for screwing everyone over just to make 0.5% more profits that quarter. Do you think the 2008 financial crisis happened because the economy was too regulated? Or not regulated enough? People exist that will happily sell medicine that will give you AIDS/HIV because it's too valueble to destroy the product so they just ship and sell it anyway.
@@JanBruunAndersenby regulating it by law, it becomes regulated. You could also criminalize it.
They are going to love Temu.
Not making up to a million before retirement is unfulfilled retirement.!! I’m 54 and my wife 50 we are both retired with over $7 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock and forex market made it possible for us this early, even till now we earn weekly.
Investment should on every wise individuals bucket list. You will be ecstatic of the decision you made today.
so perfect
I got my first house the year I started investing and today networth is over £732k
I’m a young mom, I’m really glad to hear your story it inspires me. can you share how you earn weekly.
Credits to Dylan Kyle Zachary, He saw me through the process.
Excellent analysis presentation of some important information. Good luck on your sculpture auction.
Russian rubles are essentially Monopoly money at this point. No one around the world wants its currency. I wonder if North Korea would accept rubles? Just a curiosity, would the two most sanctioned countries in the world accept each other's currencies?
North Korean markets use yuan. sometimes won amongst those who are just one inch ahead of dying. rich people use dollars to purchase products of value
@@dadaist5846, seems like North Korean knew that their own currency is useless long ago. If so, it is unlikely that they will be accepting other useless currencies from other highly sanctioned countries like Russia. With the current "cooperation" taking place between Russia and North Korea, chances are they are working on some sort of bartering exchange system. I guess I should not be surprise by this; after all, there are no honors among thieves. They are clearly not going to actually trust each others systems. 😁
good question
16:30 Fascinating ..divide rent% by wage% and see how shyte it must be in Russia today compared to other countries.
I've heard mortgage rates are 20%+ now, I heard car loans are over 30%. Car payments could take almost half the average income while rent is around half. How would anyone live like that?
@@floydlooney6837 they’re largely Chinese cars so it’s unlikely they’ll last the duration of the loan.
What’s the potato worth? A handful of rice?
😂😂😂
@@ruthslone2992 A potato sack full of Roubles. But the sack is probably more valuable to the Chinese.
The bit about bartering with Russia reminds me of one small series of events in the 1970's (or was it the 80's?) whereby the New Zealand Dairy Board accepted Lada cars in payment for milk products sold to the USSR (the USSR had a problem obtaining hard currency at that time). The NZDB then on-sold these cars into the NZ market. Needless to say, the cars didn't have a great reputation. One joke of the time went like this... A man driving a Lada drives into a Petrol/Gas/Service Station. He says to the attendant "Can I have $10 of petrol for my Lada", the attendant says " sure, that sounds like a fair swap".
That's the WORST back-scratcher-clock EVER!
Still waiting for Bloomberg to retract their initial report on the effects of sanctions...
Exactly. In fact and not only for this, Bloomberg losed all my respect.
Think you can do a video about the possible impacts of Thailand and Turkey wanting to join BRICS (especially Turkey)?
Thank you ... I look forward to all your videos
Russia: You are all vassals of the USA! !
USA: How do you define vassal?
Russia: You conquered them with your economy and currency!
USA: So you are a vassal of China? 😅
China has bad relations with India, Vietnam - Russia is activating diplomacy toward them. Also North Korea is kind of switching it's sugar daddy from China back to Russia.
That's the main thing. Sovereign countries are doing business and having relations with other countries solely based on their economic or security interests.
Now tell me why Germany can't trade with Russia, Iran, and soon China as well?? Why Germany is still in NATO if expansion of NATO led to the war and blowing out of North Stream and all of that?
What kind of infrastructure China blew-out in Russia to be remotely comparable?
Coining a new word:
Sanctionolgy
"Necessity is the mother of invention."
Thanks Joe for the full update❤❤
Thank you for all of your hard work. This video was quite informative...
How is India profiteering from trade with Russia given the current sanctions? I would be very interested in your data collections as this is of great concern particularly when PM Modi has declared that he is a "friend" of the war criminal Putin.
I thought people in India believed in karma? Obviously they do not?
India isn’t, Indian oligarchs are. There’s also the issue that 80% of India’s military equipment is soviet made so they continue to need russian help
Such a good friend they decided they won't buy Russian arms anymore?
@@floydlooney6837 I remember reading Russia didn't send the arms India already paid for 🤣🤣
Thank you for the update, Joe. Always so well done! Crypto needs to be regulated like any other currency. Subscribed.
You cannot regulate crypto currencies.
@@JanBruunAndersen Everything can be regulated, including crypto. All it takes is passing laws to that effect. It's coming, crypto will be regulated.
It’s nigh on impossible to regulate Crypto. Can’t see where you’d even start to try.
You can use crypto to bypass banks and currency controls by sending Crupto via email.
By the way I don’t own any Crypto
Extremely interesting and informative. Thanks
Back in 2022 when btc was at its cycle low, people where saying btc is done for it's going below $15k US it's going to zero. Well it's down 10% from mid March ath 2024 and now everyone is shitting themselves. That doesn't make any logical sense especially for crypto.Its just a shake out phase, chill people go zoom out at old charts. We are at around 1.4 trillion market cap and only growing, just wait and see the price next year in March it will double....I've been engaged in active trading and managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin....I'm especially grateful to Rafa Manuel, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
HE'S MOSTLY ON TELEGRAMS, USING THE USERNAME...
@Rafamanuel
Thank you for the awareness here on youtube, it shows how much you want all traders to progress as I have been thinking of selling my btc.
I appreciate your kind words, although I was able to achieve this milestone with the guidance of Rafa Manuel
I'm very much aware of the great benefits of working with a pro but I haven't found one for myself.
Thank you!
Putin has his special military operation.
We have the special economic operation
Who is winning?
Stop listening to propaganda
@@paulurban2472 you ok? he just stated facts:
- Pootin has special military operation
- Free World has special economic operation i.e. sanctions
what don't you get about that? or was it the winning part???
well, bot, look at that: since 2 years you are on your "3-day-to-Kyiv-operation". Ukraine has halted the 2nd strongest army of the world time and again. I could cite MUCH more facts, but I'll just leave it at that.
so, who's winning? apparently NOT Pootin. Idk if anyone's winning, but your second coming of Stalin definitely isn't.
but hey, don't despair: in 3 days you'll be in Kyiv.
Russia is winning the war, that's certainly obvious to everyone not hopelessly indoctrinated. As for any special economic operation, I guess you are referring to the sanctions. So far common man is not noticing too much change. Some food items have become more expensive.
@@ArmadilloGodzilla
What makes you think Russia is winning it's imperialistic war of aggression?
@@ArmadilloGodzilla HAHAHAHA 🤣🤣🤣🤣
Delusion is strong with this one.
It's EXTREMELY comforting that your audio portion as well as the imagery is ACCURATE.
I'll take the "free content" for as long as you deem it acceptable.
Stay current.
Be safe; be healthy; and, be happy.
tc
100% agree that number-crunching through blockchain transactions is a perfect job for AI, Joe. As you mentioned, every transaction is indelibly recorded and it wouldn't take long for a specific AI programme to sort out legit v's non legit. It's going to open a massive can of worms and, personally, I can't wait to see what emerges into the daylight! Very interesting vid, thanks for that.
Not really. AI provides nothing beyond what a simpler search engine would do that would be helpfull here. We already know what we're looking for, all that's left is iterating over the data to look if it's there.
Bots yesterday: BRICS currency is going to displace the USD.
Russia today: Cryto is displacing the ruble. :D
No wonder the Russians are 'bricking themselves'!😂
More good news 😊 thanks jo
"sANcTiOnS doN'T WoRk" - Russo-propo-bot
take a gander over at the Indian news channels!
if one didn't know better, they'd have you believing it was the world's number one economy
They do, and they don't.
The fact that black markets exist proves they don't.
But, it's much less convenient to work around them.
Really that’s why the ruble is not even on the periodic board anymore. You can’t even see it. That’s why they’re using the yean
Russia - Property of West Taiwan
Good stuff Sir
How many chickens does it take to buy a million barrels of oil?
"Chickens". "Sea Bass". "Kleenex".
Nice.
Very impressive artistic skills!
I liked the last two statues, not so much this clock
Generic comment for the yt algorithm. Slava Ukraini!
I think I’ll just continue on Patreon. Don’t know where I’d put another clock. But thanks for the chance to further clutter my dwelling.
Tks
Cda
oh no!!! not the crypto!! you bastards!
Nothing to see here, just a special financial operation.
@@MikiLund Check back in 3 days.
Appreciative of your work - always interesting. It would be helpful if data sources were referenced in some obvious way.
Joe Blog,most of what I see on U- tube is positive about Russia and China,except yours and a couple of others.
Just found you -- hugely informative.
Glad to see people are slowly realising cryptocurrency is not anonymous, it is even more transparent than any bank transaction. every transaction is publicly viewable by anybody forever.
The wallet holder may be anonymous, but once you have a point where it connects back to a fiat account you can pull on that thread and unravel the whole thing.
There is no way Chinese Bank will refuse or closed their doora to Russia business.If they show you or tell you anything about refusing to transfer or do business with Russia it is a big lie
Thanks for Your great work to prepare this informations and give us the possibility to understand the connections 🥰
Thanks Joe Blogs
What I found interesting was the chart showing what China is buying from Russia, it is pretty much limited to energy products, not manufactured stuff. I agree with some of the others posts that Russia has become a subservient client of China, hardly what Putin was hoping for when he invaded Ukraine.
As far as Crypto currency is concerned I don't understand how it works so have not spent a lot of time researching it.
Great work Joe 👍. There's gotta be more goin on. Let's see who else is hiding in the dark corners 😊
So....if Russia imported Chinese EVs... they could drive them into the Ukraine to use as IEDs... hardly any modifications required.
@@markgarin6355 Have to carry them on trains. Don't think they will drive that far even if adequate charging was available.
You are outstanding, thanks.
2:58 maybe the second video of yours I've watched this is fun. Always up for some exposure to some new art I think it's critical that you make sure people know how to research the artist this is fantastic.
Whilst trade between Russia and China is important, Russia is also ramping up their economic relationship with India and Iran.
Putin might be hanging on hoping that Trump will save him when he gets elected...
Trump will for sure try to withdraw from NATO. All support to Ukraine from the US will probably stop as well.
Beyond that - hard to say.
What I do know is that T's personal and family bank accounts will grow as a result. Heck he may even get some prime real estate for a tower in downtown Moscow.
Thats a scary thought.
It's a good bet unfortunately
Imagine Trump on his first day flexing and declaring sending American troops into Ukraine :D In that case I want to see Putins face :-D
Nope. Trump might not care about Ukraine, but he don't care about Russia either
Hit the grid, they can not transfer anything.
I would like to raise a couple of points regarding Russia’s potential use of crypto-currency as a transaction payment system designed to avoid Western sanctions.
My first point relates to your recent video explaining how: a) as a direct consequence of Western economic sanctions, many Russian companies are now conducting business in Chinese yuan, (including loans, transactions and deposits); and b), how the yuan-ization of the Russian economy will have severe consequences for the Russian economy, most notably with regards to any future increase in official interest rates.
As you stated in your video, Russian companies conducting business in Chinese yuan would be insulated from the impact of an increase in Russian interest rates. Instead, the full impact of any future rate rises would be wholly borne by those Russian businesses and citizens who are still using the ruble, thereby creating a death spiral within the Russian economy between those who remain subject to the decisions of the Central Bank of Russia and those who have successfully managed to disengage themselves from the impact of any increase in official Russian interest rates.
So, based on your analysis, I would posit that the same assessment would also apply to those businesses trading in crypto-currencies in order to circumvent Western sanctions. In short, they would also be insulted from any potential future interest rate rises announced by the Central Bank of Russia. Furthermore, any Russian companies conducting business in both Chinese yuan and crypto-currencies would therefore provide themselves (and their shareholders) with two potential avenues to disengage from the Russian financial system. It would be interesting to know what the amount of transactions being conducted in both yuan and crypto-currencies are as a percentage of Russian GDP. This might give an indication of the size and scope of the problem for the Russian economy. Indeed, given how one of the main attractions for using crypto-currencies is that they are deliberately designed to operate outside any central bank governance, it would be very interesting to know how the Russian authorities intend to regulate (or, if indeed, it is even possible for them to regulate) this parallel financial system.
The second point I would like to raise is indicative of the hypocrisy at the heart of the Russian mentality. Notwithstanding the reason presented above that Russian companies are conducting business in crypto-currencies in order to circumvent Western sanctions, Russian President Vladimir Putin recently blamed crypto-currency mining for a spike in electricity consumption as the direct cause of rolling blackouts in many regions across Russia and Russian-controlled Crimea. In any economy, rolling blackouts (especially if they continue over a sustained period of time) result in lower productivity, thereby having a negative impact on the national GDP.
I find it ironic that Putin would rather blame crypto-currency mining for rolling blackouts rather than confront the reality of aging infrastructure coupled with an increase in consumer and business consumption of electricity (caused by several days of unseasonably hot temperatures in excess of 40 degrees celsius) as the actual causes of the blackouts. So, on the one-hand crypto-currency is GOOD because it helps the Russian economy evade Western sanctions (“Ha,ha, aren’t we clever. We have outsmarted the West/US/NATO”), while on the other-hand crypto-currency is BAD because mining crypto-currencies causes blackouts, which would ultimately have an adverse effect on the Russian economy. This is typical of the Russian mindset: You get to choose which reality you wish to believe in at any given point in time, while knowing that you have the luxury of being able to ignore the broader implications of your decision. Black is White, and White is Black. George Orwell would be proud!!
www.msn.com/en-us/news/world/putin-blames-cryptocurrency-mining-s-impact-for-russia-s-power-shortages/ar-BB1q97xB?item=themed_featuredapps_enableD?loadIn=defaultBrowser#:~:text=The%20surge%20in%20cryptocurrency,according%20to%20President%20Vladimir%20Putin.
This is really an old story that Joe is recycling: the central banks of Russia and China do not use Crypto currency to exchange goods and/or services; it used to be banned, but now it's legal for others (banks and corporations) to use Crypto. China would prefer BRICS transactions to be expressed in Yuan; which might suit China and Russia, but not all members are in agreement. Since I've never heard of a bank refusing payment; I think Joe's (rather sensational) headline refers to Chinese banks no longer accepting payment in dollars from Russia; it means they are not subject to American sanctions, same if they use their own currencies. (Since trade between these countries is increasing; they've clearly found an alternative).
Since some Russian banks (back in April) were offering to buy dollars at Rb50, sell at Rb200, it seems the intention is to wreck the Russian "dollar economy".
Russia is a major exporter of: coal; oil; gas and grain, to China, so the issue is more about what China trades in return; since they have expressed complete disinterest in getting involved in the conflict in Ukraine it won't be weapons (also with large hikes to American military budget and the increase of American military bases near China, they are building up).
These proposed secondary sanctions would raise questions like, does a Chinese shovel or a washing machine aid the Russian war effort?
While when it comes to profit motivated corporations and banks finding ways to avoid: sanctions; tax and sometimes common decency; they can lead governments in a merry dance.
It does seem the jury is still out regarding Crypto currencies; their use; their worth, even whether Crypto can legitimately be called a currency (since it's not backed by GDP, or a country).
Also, since money deposited in a bank no longer belongs to the depositor (legally it belongs to the bank); the American government is actually freezing bank assets (not Russian).
Another one for the lawyers, I guess; but another reason to avoid the dollar. All this concern over Russia and China, when the Western economy has been systematically asset stripped; I believe it just serves as a distraction and an excuse to export more public money. Ukraine and Russia agreed; neutrality, or war... Ukraine chose poorly (and that's their problem, not ours)
If you've any solution to the looming UK national debt crisis; I'm sure #11 Downing St would like to know; we can't keep printing money forever (or can we?).
Hi Joe can you (or did you) make a video explaining what crypto is how it works Blockchain? etc Thanks
You are "earning your money" for this series.Not only is the USA giving Ukraine money towards earning their freedom but they are also taking a financial hit when all the sanctions are added up.
On the AI comment, yes, if there is one thing that all machine learning models excel in its pattern matching, thats all they are huge, huge, pattern matchers.... So applied to all those transactions (assuming the dataset is there) then a model to investigate source and destination would be possible and likely what the US are using to determine who sends what to who and when and for what!
How would Chinese companies accept payment in cryptocurrencies? It’s illegal and not really possible in China right now.
Hey Joe who’s your “independent company”, can we guess who it is for a prize too? My guess is ASIS, CIA, MI6.
Thanks!
Mate, people had money 2,000 years ago.
BitCoin is actually easier than any fiat money. -Less fees, and much much quicker.
What???? I thought the New Rouble was the replacement for the Euro and US$.
That's true. No CNY can be paid. Somehow RUB get through.
Always enlightening!
The evolution of crypto: Black market money
I don't think it evolved to it, it was the whole point of it..
CRYPTO THE BIGGEST CON GOING HOW PATHETIC IT IS THEY ONLY GOT TO CHANGE ONE DIGIT TO IT AND IT GONE
Joe, you're always good to listen and no doubt all your facts are well-sourced. But you've been over-estimating Russia's economic difficulties, or at least how badly they would be affected by them, from the outset.
....thank you, comrade.
It would also be interesting to know at what rate Russia can convert its roubles into tether. Certainly not at the fantasy rate quoted by the Russian central bank.
the time has come for Russkies to learn 普通話 for future business and trade affairs with China
Thanks Joe.Very informative video, as always. Finally, a real world use for cryptocurrency. However, I expect that the US will quickly shut down this use of any stablecoin linked to the USD, and it is not surprising that Tether say they will cooperate with US enforcement agencies.
So much for the BRICS currency. Remember all those photo ops featuring that rogues gallery of goofballs?
That's where you're wrong
Yep. I remember. Putin in his high heels. Should bring those + lipstick when he goes to jail.
Goodb to know, thank you. 😊
😮 the wind clock would make an excellent boat anchor⚓ for my boat then I will know what time to set the anchor.
CHINA: Soo what was that territory that you took from us ?
RUSSIA: Well.........