Ruble Implodes: Is It 1998 All Over Again?

The video discusses the dramatic market movements of the Russian ruble, highlighting the central bank's decision to raise interest rates by 6.5% to stabilize the currency. Despite this, the ruble continued to weaken, drawing parallels to the 1998 financial crisis when Russia defaulted on its debt. The video explores the economic and geopolitical challenges Russia faces, including the impact of oil prices and sanctions, and the potential need for policy changes to prevent a financial crisis.

What action did Russia's central bank take to try to stabilize the ruble?

• Introduced new currency

• Raised interest rates

• Lowered interest rates

• Implemented currency controls

What historical event is the current ruble crisis being compared to?

• The 2014 Oil Price Crash

• The 2008 Global Financial Crisis

• The 1987 Stock Market Crash

• The 1998 Russian Financial Crisis

During the 1998 crisis, what percentage of its value did the ruble lose?

• 80%

• 70%

• 60%

• 50%

What is one potential strategy mentioned to stop the ruble's decline?

• Increasing oil production

• Implementing strict currency controls

• Changing foreign policy stance

• Decreasing military spending

How is President Putin's popularity described in the context of the crisis?

• Irrelevant to the situation

• Stable at over 80%

• Declining rapidly

• Dependent on foreign aid