In the end of the 80es when the Swedes had their big banking crisis, interbank rates were above 30% and the Swedish krona halved compared to the neighbouring Scandinavian countries.
The late 90es had the Asian currency crisis where most South East Asian currencies where more than halved against the dollar. That crisis more or less led to the unfolding of the biggest hedge fund at that time (LCTM) which had to be bailed out by the FED.
Thru the 90es the Russians defaulted and the ruble collapsed manifold.
I am curious on how Russians sees the current situation?
Is this the west/USA waging currency war against Russia?
Is this a return to "normal" with things being like they were in the 90es? Or Russia being isolated as under the Soviet union?
I met a few Russians on my travels. And I always enjoyed the company of those I got to know. My impression is that Russia has an young (age 20-30) emerging middle class who are smart, reasonable and completely unlike the image we have in the west of druken, violent crooks with bad taste.
I would hate to see Russia return to isolation.