David Frum

@davidfrum ↗

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Last Checked March 4, 2022

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Mon Feb 28 04:03:56 +0000 2022

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David Frum @davidfrum

@ericowensdc I don't know what Russia has by way of western loans, but if it defaults on them, western central banks can repay western creditors out of Russia's own frozen foreign currency reserves. — PolitiTweet.org

Posted Feb. 28, 2022

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David Frum @davidfrum

@ericowensdc Sane response: Make the best peace deal you can, as fast as you can. Likely response: Make the ruble non-convertible, expropriate all private holdings of foreign currency, replace foreign trade with bilateral barter, and pledge gold to China for Chinese-made imports. — PolitiTweet.org

Posted Feb. 28, 2022

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David Frum @davidfrum

What was a Soviet ruble worth? There was an official exchange rate, whatever the hell it was. And then there was the reality that no amount of Soviet rubles could buy meat or fish or shoes or blue jeans, only foreign currency could do that. That's "worthless." — PolitiTweet.org

@Michaelhorowicz @AFP @davidfrum What is worthless? 150? 1500? 15000? Depends on the context.

Posted Feb. 28, 2022