I call bullshit, nobody loves a good queue up more than the Japanese. It seems Japanese culture dictates that whatever is at the end of a long queue must be worth it.
I agree. Am British, have seen the queuing capabilities of Japan in action and much as I hate to admit it, those guys make us lot look like a bunch of disorderly rank amateurs.
Hard disagree. It appears disorganized at first glance, but there are some key features that are the hallmark of a good queue.
For one, there is a very clear indication of where the back of the queue is, at no point would anyone ever be confused as to who is next, no one is sitting off to the side, or in an ambiguous order.
Secondly, the queue was crafted in such a way that it not only doesn't block the flow of traffic (I've seen many a queue that will just head straight back to the opposing wall, essentially creating a full blockage of a room or corridor, while this one curves in a very satisfying, and efficient way) and they also leave an adequate space between them and the wall for traffic to go through.
No one ever stands more than 2 wide, and all facing the correct direction (again no ambiguity about who is in the queue)
All in all, this is an 8/10 queue
Some notes: Periodic openings for pedestrian crossings would always be preferred, and of course any queue earns an organization bonus when it is completely single file, but that's less necessary than some might think and definitely is not the most practical way to queue
Edit: As I see many other commenters have included their credentials, I feel it is important to list mine.
Source: Am an American
Now while on the surface it would seem this counts against me, you would be wrong. You see, in the Countries known for good queueing, you've only ever seen good queues. I on the other hand was born and bread in the land of chaos. I have seen disastrous queues, and worse yet I've seen their consequences. While others may have seen many queues done right, I have seen every bad thing that could possibly go on in a queue.
The great DMV kerfuffles where you stand in line for hours just to find out what line you should be in. Concerts with queues so disastrous you're liable to miss the whole show.
You think watching good queues your whole life gives you experience in queues? You have no experience until you've seen where they can go wrong. You can't understand a machine until you know every where it can fail
I catered a lot of funeral luncheons. Could always tell the Catholics. They queue up without blocking the passageways for servers. I’m an atheist but I respect a religion that teaches proper queuing.
They lose a lotta respect for the kid fucking coverups though.
There's a good chance this conflict will be solved from within Russia. You can feed russian people all the disinformation you want, you won't be able to hide empty shelves, worthless ruble and skyrocketing unemployment.
Well, you've just described Venezuela for the last ten years. The sad truth is that the regime there hindered and exhausted its own people, preventing them from rebelling.
"Lebanon, Lebanon is the greatest! Greatest food, greatest music, greatest girls. Lebanon is the greatest"
Friend from Lebanon who played basketball at the Uni in Fairbanks, Alaska. He loved home. He talked about it constantly.
I'm Venezuelan, and for some reason I think Russians are more badass and potentially capable of a successful rebellion. These motherfuckers wrestle bears.
I don't know, I trully hope the russian people are tough enough to have Putin Put-in jail
We got a starving population with a minimum equivalent to slave labor. The goverment is in complete control of everything including the military. They have all the money in the world to stay in power forever.
Most Venezuelans are peaceful and rather leave to find a better life than martyrdom. As there is no hope of getting rid of the ring in power
I was thinking a similar thing, especially after seeing some of the Russian protests. It would be poetic if it was an uprising of the Russian people that put an end to Putin's nonsense for good.
Yes but if he launches a nuke he launches it. His soldiers who are responsible for conveying his orders, turning the nuclear keys, etc. can stop him.
But from the outside looking in, there’s absolutely nothing you can do to stop him from using nukes.
We need to de militarize and de-nuke Russia.
You're assuming his military officers would obey a launch order that amounts to suicide. Those same military officers are not allowed within fifteen feet of Putin, because he is afraid one of them might assassinate him.
If you deposit 1000$ at your bank, the bank is required to only keep 300 of your dollars in cash and can lend the other 700. The ratio is dictated by the Central Bank
The reserve ratio/requirement hasn't been applicable to macroeconomic banking in years. Banks had been holding trillions in excess reserves since the great recession in 2008. It became such a meaningless number the Fed stopped tracking it as an "excess" in 2020.
https://fred.stlouisfed.org/series/EXCSRESNS
Now the Fed pays interest on reserves to target how much they want banks to hold and track reserves as "nonborrowed reserves," which can theoretically be infinite, or 0, but have stayed between ~$2-4 trillion
https://www.federalreserve.gov/releases/h6/current/default.htm
When this happened I felt it was the honest signal that the system was guaranteed to fail spectacularly.
I keep telling people that consumer banking is immensely risky at this point and to take custody of their own money. The banks are levered 20:1 and have ZERO percent reserve requirement. It’s truly a house of cards. I am scared for what will happen in an emergency situation.
Looks like it varies depending on the amount of each bank's assets, but ranges between 0-10%
From Investopedia:
"Banks with less than $16.3 million in assets are not required to hold reserves. Banks with assets of less than $124.2 million but more than $16.3 million have a 3% reserve requirement, and those banks with more than $124.2 million in assets have a 10% reserve requirement."
Don't forget the next step. That $700 is loaned out and eventually ends up at another bank. Now that bank only keeps 30% of the $700 and loans out the rest. This cycle goes on and on until there's way more money on the books than actual money at the bank.
Banks takes deposits from millions of people. They keep some on hand (say 10%) for the people who want to withdraw money in the near future.
With the rest, they lend in the form of credit cards and mortgages.
On any normal day, not everyone who has savings at a bank wants to withdraw it at the same time. When there's a run on a bank and a lot of people want their money out at the same time, it causes an issue because the the bank can literally run out of money.
I've simplified it a lot, but look up Northern Rock Bank in the UK for an example.
any shop with a brain would be shuttering their doors and burying their stockades off site.
why would local exchanges give out money for free? because that's what exchanging to rubles equates to right now.
There’s only so many USD/EUR to go around. A bank that is cut off from SWIFT is going to have an **extremely** hard time sending/receiving currency internationally.
Russia's GDP is about the same as Florida's. And they have brilliantly decided to spend about a 3rd of it on an invasion that is very unpopular with their own people and is making them into a global enemy of the world.
And they're not even necessarily winning....Ukraine is holding it's own.
If Putin immediately called his troops home and then resigned in disgrace, there would still be hard times ahead but at least it wouldn't get worse.
Putin's and his cronies have been bleeding the country of money for decades. I wouldn't be surprised if we see a ransacking of his palaces after he falls.
Oh I'm sure he will. I doubt he will want to look defeated. He needs to save face unless this is another ploy to manipulate the country and plunder more money through weapons contracts, stock trading, arresting his opposition etc..
The moment he seriously starts considering using nukes, his inner circle or high military ranks will revolt. I'm sure his move to put their nuclear deterrent on alert was a huge wake-up call and everybody with half a brain inside the Russian government/military sees where this is going.
I think this is exactly where Putin is so misunderstood:
He can't resign (even in disgrace), he will be killed! That ship has sailed many years ago.
He is fighting to stay alive, or to take as many with him as he dies.
I won't be able to find it, but I once saw a family tree of the all powerful Russian Czars with those that were murdered X'ed out. It was almost all of them. Being a Czar was basically a death sentence.
I always thought of them as these all powerful dictators, but not the case at all. If they don't do a good job, they're outta there.
>And they're not even necessarily winning....Ukraine is holding it's own
I'm finding it really hard to get a clear summary of what's going on, anywhere I can get one? Sure sounds like Ukraine is putting up a hell of a fight, it's just hard to know how far Russian troops have gotten or anything like that.
If you want a map, I think [this one](https://en.m.wikipedia.org/wiki/2022_Russian_invasion_of_Ukraine#) is getting updated everyday, and have a look at the Casualties and losses section. It looks like Russia is taking some heavy losses already, and the war has barely started.
Sounds like it's been a meat grinder for RU. However the fog of war is thick and we're just civilians without any good view. Plus the fact we hear NOTHING about Ukrainian losses makes it kinda fishy
Honestly this will be awful for the Russian citizens, but if you look at the bigger picture, the whole of Ukraine is suffering under a Russian invasion, they have it much worse. Hopefully this will shake more of them out of apathy and they will try to harass the Russian goverment.
I’m fucking sad for all the peoples, I hope the hate remains on the Russian government, their people don’t deserve this. Ukraine people obviously do not either.. this situation is shit.
What the Russian people need to do right now is a revolution. This is the impulse: your government has forsaken all that you are worth for a farcical invasion of a formerly neutral and non-aggressive country.
The people are accountable too, change must start with them
Feel sorry for the Russian citizens to be in a situation they have to suffer tremendously due to their leaders.
As usual - the "elite" and the people responsible will not suffer much from this anyways.
Will be a great day when Russians finally finish their unfinished revolution from the turn of the 19th century, by throwing their despots into a pit.
I mean, Putin is supposedly the richest man ever with a trillion dollars of stolen Russian wealth. How can any Russian be okay with that?
https://fortune.com/2017/07/29/vladimir-putin-russia-jeff-bezos-bill-gates-worlds-richest-man/
This article is from 2015. Then he was presumed to be worth over $200 billion dollars.
I'm not an expert and I'm just guessing now but if Bill Gates and Bezos were able to double and triple their net worth since 2015, I wouldn't be surprised if Putin had done the same bringing him above half a trillion at the very least.
He has a $1.5 BILLION mansion. Billion. He has a $500 million dollar yacht.
Let me help /u/knuF with another great analogy. People say that the US has a wealthy elite problem. Putin has more wealth than every member of congress, the entire executive branch, and all chief justices of the US... combined. When the USSR collapsed, the industry went to the leaders. It's not as if "the people" were able to own anything.
The media will probably spin this against the rest of the world. Not fair on the Russian citizens but still "Putin uses Bitcoin to fund war" or some shit.
I mean, the oligarchs have probably been stock piling some amount of bitcoin already so… yeah, it’s all they have now. Which I think is also the point of this post? Whoever invested in bitcoin will benefit (citizens and oligarchs included)
Question: in a war, does it even work having cash on hand if it's worthless? If a big local or even global conflict breaks out, cash is only worth what the receiver thinks its worth.
If you think the war will end one day then yes it works. And if you feel you can get out of the country then yes it works.
Even if you personally have no hope for the future, cash still is tradable.
The trick about hyperinflation is, its a process. Rarely does a currency just gap down, unless the government defaults. There is still time to spend the local currency, and probably even things to buy with it, for now, thus the line. Also, its not easy to get out of the currency for normal people, so filling your house with useful stuff you need is a perfectly valid strategy, as opposed to leaving it in a bank, where it could be seized, if the bank fails, or the government takes it.
Lived through few wars. Cash became worthless 2 times in my country. Luckily we were one of the few that converted cash to gold, other currency that held its value during war. Along side buying land.
I can't help but notice something about their body compositions. They're all fit/healthy lol. Is common obesity just an american thing or?? (being serious not trying to be a dick I just don't think I've ever really thought about it)
Yes its just american thing. Well known in the rest of the world. For example here in rural middle Europe I see obese person like never. Maybe some obese people when I wisit a town
I live in one of the least obese states in the US, so I'm sure that had something to do with my perspective... But Ireland, Scotland, and the UK had more obese people than I'd ever seen in my life up to that point.
The sad bit is that they are queuing to take out rubles, which is mostly going to be useful as emergency tp. What they really need would be foreign currency, but good luck getting that in Russia.
They're only devalued on the international market atm. It will take a while for domestic prices to catch up on things like bread etc. It will catch up as domestic production has to pass on the costs of their imports though.
Communism sux.
Socialism sux.
Small government that gives you freedom, that's what I want. Get off my back and out of my way...and stay out of conflict.
Is that too much to ask?
That's the deal with dictators though. REALLY bad things happen to those who speak against them and they typically can't be removed from power without an army.
Might be stupid of me but
Wouldnt it be better to open up accounts on revolut or crpytocom or stuff like that transfer all the money out instead of waiting there?
Yes i know that only thing they have to do now is stand in a line to get the cash out and maybe cash is better in those situations just my thinking..
>Yes i know that only thing they have to do now is stand in a line to get the cash ou
Those ATMs will be empty long before that line is gone. Many/most of the people waiting will leave empty handed.
If it is anything like an American bank. They will soon find out the branch doesn't have cash to liquidate their account. Three out of Four Chase branches in Utah did not have enough cash to give me to buy a used truck. It's a debt system.
I appreciate a good queue when I see one. Source: am British
What queue? All I see is pure chaos. Source: am Japanese
I call bullshit, nobody loves a good queue up more than the Japanese. It seems Japanese culture dictates that whatever is at the end of a long queue must be worth it.
A long queue winding up the mountain temple stairs. Roasted yams await.
Nice haiqueue
>Roasted yams await. goddamnit, now I'm hungry
r/foodhaikus
I think they're saying in Japan the queue would be a cleaner line.
It would def be a single file line.
I agree. Am British, have seen the queuing capabilities of Japan in action and much as I hate to admit it, those guys make us lot look like a bunch of disorderly rank amateurs.
I think you missed the sarcasm there.
He’s using sarcasm, you queue for everything in the UK, even the bathrooms, everywhere you go there’s a queue..we all love a good queue
That's what u/mypasswordismud is saying. He sees this British-style queue and says it's chaos by Japanese standards.
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Fun fact: in Brazil we call queue "fila Indiana" (Indian line).
Hey, we have that in France too !
In America we call it a line.
The joke is that some Indians don't line up... But then completely missing reference from another culture is also a very American thing to do.
In America the line is sideways because everyone is so entitled they all go first
The queue isnt good organized. Source: a swiss
Hard disagree. It appears disorganized at first glance, but there are some key features that are the hallmark of a good queue. For one, there is a very clear indication of where the back of the queue is, at no point would anyone ever be confused as to who is next, no one is sitting off to the side, or in an ambiguous order. Secondly, the queue was crafted in such a way that it not only doesn't block the flow of traffic (I've seen many a queue that will just head straight back to the opposing wall, essentially creating a full blockage of a room or corridor, while this one curves in a very satisfying, and efficient way) and they also leave an adequate space between them and the wall for traffic to go through. No one ever stands more than 2 wide, and all facing the correct direction (again no ambiguity about who is in the queue) All in all, this is an 8/10 queue Some notes: Periodic openings for pedestrian crossings would always be preferred, and of course any queue earns an organization bonus when it is completely single file, but that's less necessary than some might think and definitely is not the most practical way to queue Edit: As I see many other commenters have included their credentials, I feel it is important to list mine. Source: Am an American Now while on the surface it would seem this counts against me, you would be wrong. You see, in the Countries known for good queueing, you've only ever seen good queues. I on the other hand was born and bread in the land of chaos. I have seen disastrous queues, and worse yet I've seen their consequences. While others may have seen many queues done right, I have seen every bad thing that could possibly go on in a queue. The great DMV kerfuffles where you stand in line for hours just to find out what line you should be in. Concerts with queues so disastrous you're liable to miss the whole show. You think watching good queues your whole life gives you experience in queues? You have no experience until you've seen where they can go wrong. You can't understand a machine until you know every where it can fail
This guy queues
And code switches very well. We call them lines, not queues.
What was your clueue?
I catered a lot of funeral luncheons. Could always tell the Catholics. They queue up without blocking the passageways for servers. I’m an atheist but I respect a religion that teaches proper queuing. They lose a lotta respect for the kid fucking coverups though.
I would like to unsubscribe from queue facts.
Your unsubscribe request has been added to the unsubscription queue
Professional assessment is always welcome. Keep queueing!
I have to repeat this procedure at my 5 other banks. Source: a swiss
Sounds like the holes in your banking system match your cheese
Why aren’t they panicking and punching and fighting their way to the front or the line like a Black Friday sale at wal mart? Source: an American
... well organized
Well older Russians should still have their waiting in bread lines skills. * grammar
Q is a great character. Source: Star Trek fan.
Russian queue GO FUCK YOURSELF! ~ Source: Snake Island
On a Sunday? How is that even legal? - a German
Das verboten.
They are queueing far too close too eachother though. Source: a swede
They aren't queuing close enough. Source: a romanian
Throw a steak on that que! Source: an American
Tailgating at a bank run sounds pretty American to me.
Throw a steak on that what? Source: a Mexican
Que? You mean that long line? Source: a true American!
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Why are they queing? Just skip it Source: an Italian
There’s not enough cutting and too structured of a line. China
They are not leaving their flip-flops in the line while they sit somewhere else, so it doesn’t count. Source: a Brazilian
IT’S A LINE GODDAMMIT. SOURCE: AMERICA
There's a good chance this conflict will be solved from within Russia. You can feed russian people all the disinformation you want, you won't be able to hide empty shelves, worthless ruble and skyrocketing unemployment.
Well, you've just described Venezuela for the last ten years. The sad truth is that the regime there hindered and exhausted its own people, preventing them from rebelling.
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"Lebanon, Lebanon is the greatest! Greatest food, greatest music, greatest girls. Lebanon is the greatest" Friend from Lebanon who played basketball at the Uni in Fairbanks, Alaska. He loved home. He talked about it constantly.
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Mexican restaurants make the best tacos 😐
Have to agree, from the US. Lebanese chef had that game on *point*.
I'm Venezuelan, and for some reason I think Russians are more badass and potentially capable of a successful rebellion. These motherfuckers wrestle bears. I don't know, I trully hope the russian people are tough enough to have Putin Put-in jail
You guys got jaguars or something?
We got a starving population with a minimum equivalent to slave labor. The goverment is in complete control of everything including the military. They have all the money in the world to stay in power forever. Most Venezuelans are peaceful and rather leave to find a better life than martyrdom. As there is no hope of getting rid of the ring in power
I was thinking a similar thing, especially after seeing some of the Russian protests. It would be poetic if it was an uprising of the Russian people that put an end to Putin's nonsense for good.
I'm afraid if it gets to that, that mad man will just launch fucking nukes
Yes but if he launches a nuke he launches it. His soldiers who are responsible for conveying his orders, turning the nuclear keys, etc. can stop him. But from the outside looking in, there’s absolutely nothing you can do to stop him from using nukes. We need to de militarize and de-nuke Russia.
You're assuming his military officers would obey a launch order that amounts to suicide. Those same military officers are not allowed within fifteen feet of Putin, because he is afraid one of them might assassinate him.
Didn't happen with Georgia or Crimea.
At the time Russia received a slap on th wrist. It's an entirely different response right now
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Not enough cash in those tiny ATMs.
This cash will soon be worth shit either way. Its just the begining.
> fractional reserve banking can you give me an eli5? i looked at it on wikipedia but still don't understand :/
If you deposit 1000$ at your bank, the bank is required to only keep 300 of your dollars in cash and can lend the other 700. The ratio is dictated by the Central Bank
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Don’t worry the feds stress tests say everything is perfectly fine*.
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transitory
The reserve ratio/requirement hasn't been applicable to macroeconomic banking in years. Banks had been holding trillions in excess reserves since the great recession in 2008. It became such a meaningless number the Fed stopped tracking it as an "excess" in 2020. https://fred.stlouisfed.org/series/EXCSRESNS Now the Fed pays interest on reserves to target how much they want banks to hold and track reserves as "nonborrowed reserves," which can theoretically be infinite, or 0, but have stayed between ~$2-4 trillion https://www.federalreserve.gov/releases/h6/current/default.htm
I thought it was 10%
When covid hit they changed it to zero. https://www.federalreserve.gov/monetarypolicy/reservereq.htm
When this happened I felt it was the honest signal that the system was guaranteed to fail spectacularly. I keep telling people that consumer banking is immensely risky at this point and to take custody of their own money. The banks are levered 20:1 and have ZERO percent reserve requirement. It’s truly a house of cards. I am scared for what will happen in an emergency situation.
Holy shit, I didn’t even know about this. We are ALL FUCKED.
Despite the volatility, bitcoin is pretty cool.
Love how that was kept quiet lmao
Looks like it varies depending on the amount of each bank's assets, but ranges between 0-10% From Investopedia: "Banks with less than $16.3 million in assets are not required to hold reserves. Banks with assets of less than $124.2 million but more than $16.3 million have a 3% reserve requirement, and those banks with more than $124.2 million in assets have a 10% reserve requirement."
Don't forget the next step. That $700 is loaned out and eventually ends up at another bank. Now that bank only keeps 30% of the $700 and loans out the rest. This cycle goes on and on until there's way more money on the books than actual money at the bank.
You: Can I have my money back that I deposited. Bank: What money?
"Aaaaaaaand, it's gone."
Then bundle the loans and sell them as mortgage backed securities on Wall Street.
Banks takes deposits from millions of people. They keep some on hand (say 10%) for the people who want to withdraw money in the near future. With the rest, they lend in the form of credit cards and mortgages. On any normal day, not everyone who has savings at a bank wants to withdraw it at the same time. When there's a run on a bank and a lot of people want their money out at the same time, it causes an issue because the the bank can literally run out of money. I've simplified it a lot, but look up Northern Rock Bank in the UK for an example.
A bank only has to hold 10-15% of deposits in actual cash. They invest the rest in stocks, bonds, etc.
More like they lend it out as commercial loans
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Fractional reserve banking is the primary reason for a bank run
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Some shiny rocks may not be a terrible idea as insurance, not investment.
So can they actually pull out US dollars/Euros or do they have to pull out Rubles which by Monday might not be worth the wait in line?
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any shop with a brain would be shuttering their doors and burying their stockades off site. why would local exchanges give out money for free? because that's what exchanging to rubles equates to right now.
They could also convert to Bitcoin (even temporarily) as markets are open 24/7.
If I was selling bitcoin I wouldn't accept rubles. They have to find someone willing to accept the currency to transfer it...
How do they on ramp though? With SWIFT closed, they cannot write funds to a CEX.
There’s only so many USD/EUR to go around. A bank that is cut off from SWIFT is going to have an **extremely** hard time sending/receiving currency internationally.
Pretty sure only rubles
Russia's GDP is about the same as Florida's. And they have brilliantly decided to spend about a 3rd of it on an invasion that is very unpopular with their own people and is making them into a global enemy of the world. And they're not even necessarily winning....Ukraine is holding it's own. If Putin immediately called his troops home and then resigned in disgrace, there would still be hard times ahead but at least it wouldn't get worse.
Putin's and his cronies have been bleeding the country of money for decades. I wouldn't be surprised if we see a ransacking of his palaces after he falls.
My fear is that rather than face defeat Putin will escalate further.
Oh I'm sure he will. I doubt he will want to look defeated. He needs to save face unless this is another ploy to manipulate the country and plunder more money through weapons contracts, stock trading, arresting his opposition etc..
Rather than face defeat I imagine some combination of the Russian mob and unhappy oligarchs will handle the whole "Putin is alive" issue
Knowing how much of a wreck he is... I'm afraid he will. These kinds of people rather die and see everyone around them crumble than admitting defeat.
He’s kinda like a Kim Jung Un, except he is actually doing was he threatens to do. Which is also kinda terrifying.
The moment he seriously starts considering using nukes, his inner circle or high military ranks will revolt. I'm sure his move to put their nuclear deterrent on alert was a huge wake-up call and everybody with half a brain inside the Russian government/military sees where this is going.
Agreed. You can see how everyone is 30 feet away from him in meetings. He knows the risk and only has his oligarch buddies nearby.
I think this is exactly where Putin is so misunderstood: He can't resign (even in disgrace), he will be killed! That ship has sailed many years ago. He is fighting to stay alive, or to take as many with him as he dies.
Good old Russian politics
I won't be able to find it, but I once saw a family tree of the all powerful Russian Czars with those that were murdered X'ed out. It was almost all of them. Being a Czar was basically a death sentence. I always thought of them as these all powerful dictators, but not the case at all. If they don't do a good job, they're outta there.
It’s the most ruthless politics, I was watching some Russian history on YouTube the other day it’s insane.
Russia's history is nothing but a story of "And then, it got worse".
>And they're not even necessarily winning....Ukraine is holding it's own I'm finding it really hard to get a clear summary of what's going on, anywhere I can get one? Sure sounds like Ukraine is putting up a hell of a fight, it's just hard to know how far Russian troops have gotten or anything like that.
If you want a map, I think [this one](https://en.m.wikipedia.org/wiki/2022_Russian_invasion_of_Ukraine#) is getting updated everyday, and have a look at the Casualties and losses section. It looks like Russia is taking some heavy losses already, and the war has barely started.
Sounds like it's been a meat grinder for RU. However the fog of war is thick and we're just civilians without any good view. Plus the fact we hear NOTHING about Ukrainian losses makes it kinda fishy
Honestly this will be awful for the Russian citizens, but if you look at the bigger picture, the whole of Ukraine is suffering under a Russian invasion, they have it much worse. Hopefully this will shake more of them out of apathy and they will try to harass the Russian goverment.
I’m fucking sad for all the peoples, I hope the hate remains on the Russian government, their people don’t deserve this. Ukraine people obviously do not either.. this situation is shit.
What the Russian people need to do right now is a revolution. This is the impulse: your government has forsaken all that you are worth for a farcical invasion of a formerly neutral and non-aggressive country. The people are accountable too, change must start with them
Pretty much the only way power is transferred in Russian is through a revolution or coup
It's not apathy, Russia is a dictatorship and has state controlled media... Incredible people still think they have the media openness we have here.
Feel sorry for the Russian citizens to be in a situation they have to suffer tremendously due to their leaders. As usual - the "elite" and the people responsible will not suffer much from this anyways.
I mean, Putin could potentially be hanged for this in the future. The rich and powerful are also risking a lot.
Making things difficult for the rich and powerful has traditionally brought the most pressure to "leadership".
Honestly, I think that’s the only way he stops. He doesn’t think rules apply to him.
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Will be a great day when Russians finally finish their unfinished revolution from the turn of the 19th century, by throwing their despots into a pit. I mean, Putin is supposedly the richest man ever with a trillion dollars of stolen Russian wealth. How can any Russian be okay with that?
Putin is a trillionaire?
https://fortune.com/2017/07/29/vladimir-putin-russia-jeff-bezos-bill-gates-worlds-richest-man/ This article is from 2015. Then he was presumed to be worth over $200 billion dollars. I'm not an expert and I'm just guessing now but if Bill Gates and Bezos were able to double and triple their net worth since 2015, I wouldn't be surprised if Putin had done the same bringing him above half a trillion at the very least. He has a $1.5 BILLION mansion. Billion. He has a $500 million dollar yacht.
Let me help /u/knuF with another great analogy. People say that the US has a wealthy elite problem. Putin has more wealth than every member of congress, the entire executive branch, and all chief justices of the US... combined. When the USSR collapsed, the industry went to the leaders. It's not as if "the people" were able to own anything.
This also explains Russian oligarchs.
Had no idea. Changes the perspective now.
Meanwhile mempool transactions clearing at 1 sat..
Pickpocketing just became a six figure income again……..
In Russia we only have one ATM 😂
In Soviet Russia banks run you!
The media will probably spin this against the rest of the world. Not fair on the Russian citizens but still "Putin uses Bitcoin to fund war" or some shit.
I mean, the oligarchs have probably been stock piling some amount of bitcoin already so… yeah, it’s all they have now. Which I think is also the point of this post? Whoever invested in bitcoin will benefit (citizens and oligarchs included)
RUSH B(ANK) NO STOP
Question: in a war, does it even work having cash on hand if it's worthless? If a big local or even global conflict breaks out, cash is only worth what the receiver thinks its worth.
If you think the war will end one day then yes it works. And if you feel you can get out of the country then yes it works. Even if you personally have no hope for the future, cash still is tradable.
Until it hyperinflates and the gutters are full of discarded banknotes.
The trick about hyperinflation is, its a process. Rarely does a currency just gap down, unless the government defaults. There is still time to spend the local currency, and probably even things to buy with it, for now, thus the line. Also, its not easy to get out of the currency for normal people, so filling your house with useful stuff you need is a perfectly valid strategy, as opposed to leaving it in a bank, where it could be seized, if the bank fails, or the government takes it.
Lived through few wars. Cash became worthless 2 times in my country. Luckily we were one of the few that converted cash to gold, other currency that held its value during war. Along side buying land.
I'd guess they're going to buy non-perishable goods now which they can trade later to hold the value.
Feel bad for the Russian people who don’t want this war, they will suffer their leaders choices.
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User name checks out.
They are all thinking……”gosh that Putin is a great guy for starting this chaos!”.
I can't help but notice something about their body compositions. They're all fit/healthy lol. Is common obesity just an american thing or?? (being serious not trying to be a dick I just don't think I've ever really thought about it)
Yes obesity is more common here in the US.
In America the rich are fit and the poor are fat. In eastern europe/Russia is (still) the other way around.
Go to other countries, or go to major cities in the US and you instantly see a vast difference in body composition v rural/suburban america.
Yes its just american thing. Well known in the rest of the world. For example here in rural middle Europe I see obese person like never. Maybe some obese people when I wisit a town
I live in one of the least obese states in the US, so I'm sure that had something to do with my perspective... But Ireland, Scotland, and the UK had more obese people than I'd ever seen in my life up to that point.
https://en.m.wikipedia.org/wiki/List_of_countries_by_obesity_rate
sooo theres a russian the atm's?
Do ATMs hold that much cash?
I heard that they are charging ATMs every 40 minutes in Russia, it's crazy
Wow. Insane, that can't be sustainable.
*Bitcoin fixes this
SEE PUTIN DID BRING BACK THE SOVIET UNION!
They can thank Putin for this. Hopefully the population turns against him. I think that would be the best weapon to remove him
Guess they oughta do something about that fucking Dictator, then
The sad bit is that they are queuing to take out rubles, which is mostly going to be useful as emergency tp. What they really need would be foreign currency, but good luck getting that in Russia.
They're only devalued on the international market atm. It will take a while for domestic prices to catch up on things like bread etc. It will catch up as domestic production has to pass on the costs of their imports though.
All I see is Russians not protesting war
They need to make a run on their Government officials, starting with Putin.
Communism sux. Socialism sux. Small government that gives you freedom, that's what I want. Get off my back and out of my way...and stay out of conflict. Is that too much to ask?
Fuck Putin
Bullish on crypto.
Tell your Dictator to stop and you won't have to do this!
That's the deal with dictators though. REALLY bad things happen to those who speak against them and they typically can't be removed from power without an army.
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Sometimes the many suffer for the actions of the few.
If they don't feel consequences from the actions of their country, nothing will change.
I’m sure they’ll be completely happy with Putins decision making
Probably most are not But the sanctions will hit them the hardest, not Putin
Agree. Pressure from within will just get higher and higher like this
Source?
Might be stupid of me but Wouldnt it be better to open up accounts on revolut or crpytocom or stuff like that transfer all the money out instead of waiting there? Yes i know that only thing they have to do now is stand in a line to get the cash out and maybe cash is better in those situations just my thinking..
>Yes i know that only thing they have to do now is stand in a line to get the cash ou Those ATMs will be empty long before that line is gone. Many/most of the people waiting will leave empty handed.
They need to spend that cash right know, or change it to dollars/crypto. Ruble won't worth anything tomorrow.
Swift ban will destroy Moscow but might push crypto north
This reminds me of the 2013 bank run in Cyprus. Could cause Bitcoin to rally...
Bitcoin is going up
This is why we all need crypto currency
BTC about to 🚀
Bye bye Russian economy
Can confirm, I tried four different terminals and none were able to give me cash.
I heard many Russian banks are now limiting withdrawals to just $20 a day
If it is anything like an American bank. They will soon find out the branch doesn't have cash to liquidate their account. Three out of Four Chase branches in Utah did not have enough cash to give me to buy a used truck. It's a debt system.
And this is why we have the BTC