131. Adventures in Late Stage Fiat: Russia with Lana Nagornaia

<p>How have Russians dealt with being getting kicked off the fiat dollar network? We are joined by Russian economist and investment advisor Lana Nagornaia to discuss the monetary ramifications of US sanctions from a Russian perspective. Why has the rouble risen versus the dollar in spite of sanctions? Can this be expected to last, or will it reverse? What alternatives are Russians using for trading with the rest of the world? Will Russia switch to a gold standard? Can it trade gold internationally while sanctioned by the global gold market? Can a Chinese-Russian fiat alternative to the dollar succeed? Lana also explains how life in Russia has changed since the outbreak of war, how global energy markets have been affected and how bitcoin could play a role in bringing about a world of sanction-free trade. <br/><br/><b>References<br/></b><br/></p><ul><li>Lana Invest official <a href='https://lanainvest.com/en'>website</a>.</li><li>Lana on <a href='https://www.instagram.com/lana.invest/?hl=en'>Instagram</a>.</li><li>London Bullion Market Association <a href='https://www.lbma.org.uk/articles/good-delivery-list-update-gold-silver-russian-refiners-suspended'>suspends</a> Russian gold and silver refiners.</li><li>Moscow Times <a href='https://www.themoscowtimes.com/2022/08/26/russian-gold-rerouted-to-china-amid-western-ban-a78660'>article</a> on how Russian gold is being rerouted to China.</li><li>Al Jazeera <a href='https://www.aljazeera.com/economy/2022/7/19/whats-happening-to-russian-gold#:~:text=Yes%2C%20there%20has%20been%20an,its%20accredited%20list%20in%20March'>article</a> on unofficial ban on Russian gold. </li><li>Reuters <a href='https://www.reuters.com/markets/rates-bonds/russians-rush-buy-chinese-yuan-otkritie-bank-says-2022-07-07/'>article</a> on Russians rushing to buy Chinese yuan.</li><li>Saifedean’s first book, <a href='http://saifedean.com/thebitcoinstandard'>The Bitcoin Standard</a>.</li><li>Saifedean’s second book, <a href='http://saifedean.com/thefiatstandard'>The Fiat Standard</a>.</li></ul><p><br/