Dan Held shared: The Ruble is now worth less than toilet paper. “The Ruble is sitting at 0.00769235 USD. According to my last order, my toilet paper cost 26.49 for 1950 sheets or 0.013584 per sheet. This means it would be cheaper to wipe your ass with Rubles but probably less comfortable”.

For clarity, The Ruble is a digital currency currently in development, commissioned by Russian President Vladimir Putin. It will not be a cryptocurrency in the way that Bitcoin is, as it will be issued by the government with no mining involved.

Community Response:

Of course, toilet paper is a good asset in times of crisis. We have historical evidence of toilet paper experiencing supply shocks during the last few years.

If you were a real businessman & not just lucky like most people here, you would know that Ruble being cheap is a perfect business opportunity. Buy Ruble and instantly have access to the proven best engineers in the world on your team to build a dream. But hey! Toilet paper too!

Makes no sense.

I was praying for someone to prove me right, took a while but here it is. Not everyone is ready for it.

I was interested in buying at 3/4 of a cent speculating on peace. Never held rubles before but when they’re this cheap.

I get the joke but this is factually incorrect. This is what a 100 rubles bill buys you.

Wait a few more weeks and see if this will be available in Russian stores.

Don’t be surprised if the Ruble becomes more valuable than the dollar in the future because the ironies on this planet are apolitical.

And they are switching to the gold standard vs fiat money.

The dollar will be toilet paper before the Ruble in America’s current speed.

Idiotism.

American toilet paper or Russian toilet paper? Lol.

The cheapest TP in Russia is 10 cents USD a roll. I follow a lovely couple on YouTube who documents their life.

Of course, toilet paper is a good asset in a crisis. We have historical proof of toilet paper experiencing a supply shock during the last couple of years.

Functionality is KEY, even though most would call toilet paper a shit coin.

Pandemic toilet paper or everyday toilet paper. There’s a huge price difference.

We can, of course, laugh or gloat over this, but in fact, it is a tragedy for citizens. People, there are pretty poor, and now they become beggars.

The last pandemic taught me that toilet paper is worth its weight in gold.

Do u know of any normal folk in Russia? How life is going over there? Societal response to the Collapse of currencies is something we should be studying closely. We need a podcast or something interviewing everyday folk from Russia.

Several Russian YouTubers show everyday life.

Are they going to peg the rubble with commodities (gold, oil, natural gas, wheat, etc)? Or with something else than USD?

In a crisis, toilet paper becomes money. As does food etc. You can’t eat Bitcoin.

For a short period. Work is being done to eventually tie the Ruble to gold.

Unless you live in Russia. Its value is only diminished if you want to use it outside of Russia.

For some reason as a kid, I pictured Rubles as little tiny rubies. So really rough toilet paper.

Crude Oil hit record highs to 185 dollars on the spot market. Russia expected to default on loans of hundreds of billions of dollars from 50 major Western Banks. Many of these Western Banks are tethering on the edge and some may collapse.

So is the real value of the dollar considering all American government debt … wait until oil trade currency starts changing?