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Ukraine war: Iran Supplies Russia with Ballistic Missiles
It’s no secret that, over recent months, the Russian Federation has been securing supplies of new weaponry by selling its gold bullion to places such as Iran, China, and North Korea due to the collapse of the Russian currency in global currency markets.
(My behind the paywall link.)
The collapse of the Russian currency is a side-effect of Western sanctions on Russia since its first invasion of Ukraine in 2014 and the second invasion of Ukraine in February 2022.
The collapse of the Russian currency could also result from a single belief in international markets and within the Russian population that Russia is losing this war.
The same thing happened to the Confederate States of America with its war against the Union forces.
Robert E. Lee, the commander of the Army of Northern Virginia and later commander-in-chief of the Confederacy, had to pay for supplies using Confederate gold because the Confederate currency experienced hyperinflation.
The Confederacy was clearly losing the war by 1864, and in reality, the situation became irreversibly irrecoverable after 1862 with Ulysses S. Grant’s march down Mississippi.
Other historical examples are the currencies of Germany in World War I and World War II.
