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Spot on. They now have two options

1) Increase the rate to something truly insane like 1000%

2) Introduce currency controls and force everyone to use Ruble

Neither of these options are good, but #2 seems much more likely.



Back in the Soviet days, it was illegal to take Rubles out of the country. It wouldn't surprise me to see that law reinstated.


Yeah, but back then they had two generations that never saw any dollars or iPhones or anything luxurious.

It will be a bit more complicated this time.

They might not have any other option though.




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