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Russia says it will halt foreign currency purchases and launch a digital ruble to keep the currency from spiraling further (finance.yahoo.com)

submitted 2 years ago* (last edited 2 years ago) by [email protected] to c/[email protected]

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[-] [email protected] 36 points 2 years ago

A digital Ruble means that they don't even need to physically print more bills to further devalue their currency. Now they can just either add to a database column or stick a few more blocks on a block chain. Free money!

[-] [email protected] 15 points 2 years ago

Most money is already digital. There isn't a paper bill backing every dollar, far from it. No doubt it was the same in Russia.

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this post was submitted on 12 Aug 2023

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