• Suburbanl3g3nd@lemmings.world
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    27 days ago

    Maybe I should convert some freedom dollars to rubles and wait for the orange man to make them valuable again in the next few months…

    • M0oP0o@mander.xyz
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      27 days ago

      Well this is the most wall st bets sort of thing I have seen on lemmy.

      Why would you think anything will go up under orange man? The guy who is kinda famous for being an isolationist? The guy using tariffs to wage economic war on the USs closest allies?

      I mean with the same sort of logic, buy South African Rands.

      • SkunkWorkz@lemmy.world
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        27 days ago

        If you trade your USD for other currencies and the value of the dollar goes down against those currencies your get more dollars when you sell those other currencies for dollars. Thus this means that the value of the other currencies went up.

        You get around 100 Rubles for every US dollar let’s say you buy 1000 Rubles with 10 dollars, if the value of the dollar goes to 50 Rubles (meaning the value of the Rubles went up) then you trade those 1000 Rubles back to dollars you’d get 20 US dollars.

        • Cethin@lemmy.zip
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          27 days ago

          I think they’re aware of how it works. Currency speculation is not complicated or new. The thing is, why would you expect the ruble to be a better investment than another currency? Why would you expect it to bounce back?

          It’s a Wall Streets Bets thing because it’s very stupid gambling based on very poor logic. If you’re going to start speculating in currency, the ruble is probably not where you want to start right now.

          • M0oP0o@mander.xyz
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            26 days ago

            Ha, and more on the same point russia just closed the ruble market. So no more trading in rubles and no more ruble values being released.

            Should invest in Rands.

        • Tartas1995@discuss.tchncs.de
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          27 days ago

          I think it is a good idea to help them to understand to use their language.

          The rubles don’t go “up” but the dollar goes “down”.

          That better matches their understanding of reality and it is irrelevant for what you try to communicate.

      • Don Piano@feddit.org
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        27 days ago

        The “them” in the comment you replied to, I think it refers to the rubles, specifically relative to the original dollars.

    • theangryseal@lemmy.world
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      27 days ago

      Heeeeeey.

      This is how folks get rich right here. Crazy ideas like this.

      Well, that or they lose everything. Let me know if you do it so I can cheer you on.

    • blind3rdeye@lemm.ee
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      27 days ago

      That might be a viable strategy if those were the only two currencies. (But even then, the freedom dollars are still likely to stay in better shape - since the USA is not currently an international pariah or financing a failed invasion.)

    • Free_Opinions@feddit.uk
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      27 days ago

      Seems kind of a no-brainer if that’s what you actually believe is going to happen. It’s one thing to say one believes something but I’m way more convinced when they’re actually willing to bet money for it.

    • psmgx@lemmy.world
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      27 days ago

      What’s your horizon / timeline? If you can wait 20 years it may payoff handsomely. But who knows how the world is gonna go until then…

      • Cethin@lemmy.zip
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        27 days ago

        Assuming Russia even exists in 20 years…

        It probably will, but it’s also probably a stupid thing to gamble on. There are safer bets.