Russian Sanctions, Banking, And How The System Truly Works
How much is Russia being affected by sanctions? Not as much as the media is saying.
In this video I discuss why sanctions tend not to work and how it is tied to the way things truly work. When we understand the banking system is truly outside the reach of any government or central bank, then we can begin to understand how a lot of this is for naught.
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BEER.if that of the sanctions is little understandable since Russia has many ways to get money. Well let's hope the war comes to an end and peace returns.
You can bet that project blank is the most waited project from Leofinance. This thing will once again bring LEO to $1. Mark my words...
Edit: wrong title... you were talking about Hive not Russia. Waiting for that one too ;)
Off topic but right up my alley. I am so excited about ProjectBlank I can taste it. We will see when it starts to get closer to rolling out. It is now the end of the first 1/3 of the year, will we see it as we near the fall?
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I don't know... It feels like it's an oasis in the middle of the desert.
Right now, we are pounding a lot of sand. Hopefully it will quench our thirst soon (oops, Khal now has me doing it).
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Not all Russian banks have been cut off from SWIFT. Some European countries have to continue to buy gas from Russia until they can look for other suppliers or turn to other sources altogether and stop buying it.
Technology sanctions are much more effective than the financial ones. The military industry is the worst affected one and that's how it should be. Russian arms manufacturers cannot buy microchips from the international market except by circumventing sanctions, which makes things difficult and more costly. Russian chips manufacturers are capable of making 65 nm chips and those are 10-15 years behind current technology. And that's exactly how it should be. Uralvagonzavod should not be building any new tanks and no new Russian smart bombs should come off the assembly line so long as those sanctions hold.
The Ukrainian armed forces have been doing a good job demilitarizing Russia so far. With superior Western weapon systems they should be able to complete the job of mauling the Russian military as badly as it takes to discourage the Kremlin to invade any more countries.
Russian soldiers are often the dregs of society as anyone with a lick of sense and money to spare buys medical exemption from conscription. Contract soldiers typically come from the poorest regions or are violence loving scumbags most professional militaries would reject outright. They are looting, murdering and child raping scum and the sanctions should be much tougher to bring the economy of the country that is sending them to a grinding halt. This is to a large degree from the unbelievably high level of brutal hazing and corruption in the Russian military that is unlike to anything seen in any civilized country.
The sanctions are far from naught. The Russian economy is heading into a deep recession. According to Russian official figures the Russian economy is projected to contract by 11% this year. And that's just the beginning of it. A shortage of spare parts will only begin to seriously impact transportation and industry in Russia with a considerable delay. We're only a couple of months into this war and not all of the current sanctions were implemented right away.
Much of the negative impact is coming from not sanctions but companies withdrawing from the Russian market out of a desire to avoid reputational damage.
This is really the crux of it especially with their eastern oil fields. That was run primarily by western companies. When they pulled out, there went the expertise for the oil fields. Big problem.
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That's one of the best examples of the resource curse. When export revenue comes primarily from resource extraction, it often causes other fields to atrophy. In post-Soviet Russia, the problem has been exacerbated by the corrupt and mafia-like power structure. The most profitable industries have been run by criminals and they tend to be short sighted extractors. The technical side of things can be outsourced to foreign companies. Other, more complex industries like machine building and aerospace have much lower status in the state-oligarchical power structure of Russia and they are run by more sophisticated people. They're still being run to the ground but much more slowly.
Even through the Soviet Union had a socialist command economy, it was run by a much better class of people. The Soviet Union did not have the kind of brain drain post-Soviet Russia has.
I don't think sanctions work either because it hurts both sides. Can the same be said about import sanctions? I recall a lot of people mentioning how import taxes kind of help the local businesses get an edge over foreign stuff.
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Tariffs tend to not work either. Trump claimed all the money raised from China through his tariffs. They challenge there was the fact that China didnt pay them, consumers did. So it was really just collecting money from the American citizens.
Of course there could be reasons for it that make it valid like competitiveness. However, when sanctioning imports ie not importing from a country, like the EU is doing with Russia, it shows how it also hurts those putting on the sanctions.
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Summary:
In this video, the speaker discusses the evolution of Hive and its future prospects. He emphasizes that Hive is on the right path, evolving in a way that will have a significant impact in the future. The speaker mentions various projects being developed on Hive that have the potential to transform its future. Projects like Splinterlands, Listeners, CyberX, SpeakNetwork, Ragnarok, and Leo Finance are highlighted for their innovative approaches and potential contributions to Hive's growth. Additionally, the speaker delves into the concept of HBD as a stablecoin and its potential impact on transactions within the ecosystem. The video concludes with a hopeful outlook on the development of Hive and the anticipation of more projects coming to light in the future.
Detailed Analysis:
The speaker discusses the impatience surrounding Hive's evolution and assures viewers that Hive is on the right path and undergoing a complex evolutionary process that will have a significant impact in the future. He emphasizes the importance of various projects currently in development on Hive that have the potential to shape its future.
Splinterlands: Highlighted as a project that has made significant progress and garnered attention within the blockchain industry. It serves as an example of a successful project associated with Hive.
Listeners: A project by experienced online marketers aimed at changing online marketing practices. The speaker mentions the potential of this project to attract users to Hive.
CyberX: Referenced as a blockchain-based shooter game with the goal of attracting a million users, potentially leading to an increase in Hive accounts.
SpeakNetwork: Mentioned for its infrastructure that will allow development tied to Hive, contributing to the ecosystem's growth.
Ragnarok and Leo Finance: Projects like Ragnarok and Leo Finance are discussed for their potential impact on the Hive ecosystem, with Leo Finance's DeFi platform being highlighted for its achievements and upcoming developments.
HBD as a Stablecoin: The speaker talks about HBD as a stablecoin project and its potential integration into platforms like No Limit Gaming, utilizing its fast and fee-less transaction nature on Hive.
Project Blank: Anticipated as a significant project from Leo Finance, with the potential to back up tweets on the Hive blockchain if APIs are opened up by Twitter post acquisition by Elon Musk.
Overall, the speaker's detailed analysis of various projects highlights the diversity and potential of initiatives within the Hive ecosystem. The discussion on HBD as a stablecoin and its implications for transactions on Hive adds another layer to understanding the ecosystem's dynamics. The video ends on a positive note, expressing optimism for the future development and growth of Hive as more projects come to light.