Mainstream media has a tendency to discredit anything in the financial world that is not controlled by governments or central banks. Without employees who are knowledgeable about how the financial system works, and why Bitcoin provides a viable alternative, mainstream media coverage is nothing more than propaganda these days. If it weren’t, someone would have paid attention to the Ruble, which is crashing incredibly hard for nearly a year now.
Also read: Dutch police arrests 10 men for bitcoin money laundering Russian Ruble Is Dying But No One Cares
TheMerkle_Russian Ruble Crashing One thing many people fail to realize is how volatility exists in every type of currency, asset, or other vehicle for value. While the US Dollar may be the world’s economy currency for the time being, other fiat currencies are fluctuating wildly on a daily basis. Take a look at the Russian Ruble , for example, which has been going on a rollercoaster ride throughout the last year.
Mainstream media outlets have been paying little to no attention to this fact, partially because relationships with Russia are not as stellar as they could be. But at the same time, the world deserves to know fiat currency is far less stable than people have imagined, even though it is “backed by tangible assets’. By the look of things, those tangible assets are losing a lot of value in Russia.
In May of 2015, one US Dollar was worth 48.67 Russian Ruble. It has been a while since the exchange rate was that favorable for the Russian population, and things were looking bright regarding economic growth. Fast forward to today and one US Dollar is worth 82.90825 Russian Ruble. Needless to say, the Ruble has lost close to 50% of its value in less than a year,
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