The Fall of the Soviet Union: Why the Superpower Collapsed — Fexingo History

The Last Soviet Ruble: Hyperinflation That Killed a Superpower

6 min · 2. juni 2026
episode The Last Soviet Ruble: Hyperinflation That Killed a Superpower cover

Description

In early 1991, the Soviet ruble began its final collapse. This episode follows the currency's death spiral through the eyes of Muscovite accountant Nina Petrova, who watched her life savings evaporate as prices rose 20% per week. We explore the State Bank's disastrous 1991 currency confiscation — the Pavlov Reform — that wiped out ordinary citizens' cash while failing to stabilize anything. Lucas and Luna unpack how the ruble's fall accelerated the Union's breakup: republics printing their own money, farmers hoarding grain instead of selling for worthless paper, and the rise of dollarization in Moscow's streets. Featuring the black-market exchange rates near the Arbat, the story of a ZIL factory worker paid in televisions instead of rubles, and the moment when the Soviet government admitted it could no longer control its own currency. A microhistory of macroeconomic collapse. #SovietUnion #Hyperinflation #Ruble #PavlovReform #NinaPetrova #Gosbank #StateBank #1991 #EconomicCollapse #Moscow #Arbat #ZIL #dollarization #Perestroika #Gorbachev #SovietEconomy #History #FexingoHistory Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]

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140 episodes

episode The Last Soviet KGB Man: Kryuchkov and the Empire's Demise artwork

The Last Soviet KGB Man: Kryuchkov and the Empire's Demise

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5. juli 20265 min
episode The Last Soviet Poet: Anna Akhmatova and the Empire's Silence artwork

The Last Soviet Poet: Anna Akhmatova and the Empire's Silence

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5. juli 20266 min
episode The Last Soviet Newspaper: Pravda and the Collapse artwork

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Yesterday5 min
episode The Last Soviet Car: How Lada Outlived the Empire artwork

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Yesterday7 min
episode The Last Soviet Library: Books That Outlived the Empire artwork

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