TurboSalsa

TurboSalsa t1_j4yyzwt wrote

Russia really doesn't have any options to sell gas at this point. Their ballyhooed Siberia-China pipeline was a dictators' vanity project and the route was designed according to which oligarch was owed favors at the time, and consequently won't make any money.

They can't build LNG terminals for lack of capital, technical workforce, and western equipment.

So while they're able to sell oil, a huge chunk of their gas is stranded at this point.

9

TurboSalsa t1_j3ri5d0 wrote

Every time one of these exchanges goes belly up there are cryptobros unironically asking for government investigations and bailouts, from the government whose regulatory regime they are explicitly operating outside of.

Right now, we're at the "lender of last resort" chapter of learning why the financial system is the way it is, except the lender of last resort in this case isn't the US Treasury, it's some shady exchange whose "reserves" are just illiquid shitcoins.

252