This Is What a Currency Collapse Looks Like: Shopping Frenzy: “We Have A Lot Of Rubles Losing Value Every Second”!

• This Is What a Currency Collapse Looks Like: Shopping Frenzy: “We Have A Lot Of Rubles Losing Value Every Second”! 
  by Mac Slavo, http://www.shtfplan.com/ 
  Russians have seen the writing on the wall and they know that they’re economy and currency are in serious trouble. Though the Russian central bank has pledged to protect and stabilize the Ruble, which has collapsed by nearly 50% versus the dollar in the last several months, people aren’t taking any chances.
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  It’s a scenario we’ve seen repeated throughout history when a nation’s currency was threatened with destruction and it’s one we may soon witness in America should confidence in the dollar as the world’s reserve currency ever be lost. This is what a currency collapse looks like:
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  “It is a real panic,” said Kirill Rogov, an independent political and economic analyst who is often critical of the Putin administration. “The ruble is being devalued by 5 or 6 percent every day, and nobody knows how to stop it.”
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  The ruble has lost 50 percent of its value since the beginning of the year. Russian consumers afraid of losing their savings, as happened in a financial crisis in 1998, flooded stores, rushing to dump rubles that seemed to shrink in worth by the minute.
  Source: New York Times
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  “I don’t need this car,” he said with a shrug. He already owns two Porsches and a Land Rover. But, he figured the prices will soon go up and the ruble will probably go down. “We are headed for a crisis,” he said.
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  Electronics stores were packed late into the evening as shoppers scooped up iPhones and iPads at prices over $100 lower than what they cost in the United States. Apple’s Russian website halted online sales “due to extreme fluctuations in the value of the ruble… while we review pricing.”
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  “We came here because we have a problem. We have a lot of rubles which are losing value every second and we were too late to buy dollars at good price. We came here because prices on cars will increase tomorrow,” Katya said.
  Source: ABC News 
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  What’s happening in Russia with the collapse of the Ruble is that merchants are being forced to raise their prices on goods every day. If the slide in the Ruble continues that could turn to hourly adjustments as was seen in Zimbabwe when their dollar crashed.
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  It’s a scenario that closely mimics the Argentine hyperinflation of the early 2000′s. As noted by author Fernando “Ferfal” Aguirre in his first-hand account The Modern Survival Manual: Surviving The Economic Collapse, when the country’s currency collapsed citizens had no choice but to spend their money immediately on anything they could get their hands on. Failure to do so would cut their purchasing power in half within a matter of hours.
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