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Belarus Just Devalued Its Currency By 56%
When it comes to currency warfare, one can be polite and gentlemanly about it, like Brazil for instance, which every day, and sometimes on several occasions during the day, will proceed to buy dollars in an attempt to keep one's own currency lower. Or one can do what the Belarus central bank just did, and officially devalue one's currency, in this case the Belarus ruble, by 56% overnight, against every currency out there.
At this point, it sucks (that is a technical term) to be holding any exposure in BYR. Luckily for those who held their "money" in the form of gold and silver, they just got an instantaneous 56% value preservation and a relative boost in their purchasing power with just one central bank announcement. Also, any and all indebted parties who have BYR-denominated debts are throwing one big party tonight, as their debt was just cut by more than half. And yes, the Greeks are jealous with envy.
From Kommersant.ru:
The National Bank of Belarus (NBB) is sharply devaluing the official rate of Belarusian ruble. The exchange rate as of May 24 was set at 4,930 rubles per dollar. a decrease of 56% from the 23 May.
The National Bank of Belarus has officially confirmed a sharp depreciation of the currency. On its website it has published the official exchange rate of Belarusian ruble: $ 1 - Br4930 (a decrease of 56,3% to the rate on 23 May), 1 Euro - Br6914, 82 (a decrease of 53,1%), 1 Russian ruble - Br173 , 95 (a decrease of 53,9%). The official rate for May 23 was set at 3,155 rubles per dollar.
Earlier, the Belarusian authorities stated that in the near future a unification of the national currency will occur in two phases. "In the first stage decisions will be made to bring down the increased demand, and upon receipt of the loan rate will be formed on the basis of supply and demand, thus lowering the expectations today are still there," - said on May 20, Prime Minister of Belarus Mikhail Myasnikovich.
Meanwhile, representatives of Belarusian banks have criticized the mechanism of devaluation. "The problem is not in the specific value of the exchange rate and in the mechanism. The question is: under whose speculative decisions did the National Bank make this choice?" - Said the agency "Interfax-West" management representative of a bank with Russian capital. In this case, the representative of a state bank believes that "this decision should be viewed as an interim measure." According to him, "the trend is obvious: the official exchange rate will move in the direction of the OTC exchange rate, rather than vice versa."
Earlier, BNB announced the termination of containment of the Belarusian ruble to the retail market: from May 12 to lift restrictions on banks to buy and sell currencies population - 2% of the official rate.
h/t mludwig
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Don't forget the USD cross started from 2.000!
OK, I know that I am being VERY rude here, pimping myself... But, I am re-posting this from another thread because I am trying to decide whether or not to write a blog...
I too regret hijacking this prime real estate, but... Please don't kick me off, Tyler, for this...
I am considering writing a blog. This has been going around in my head now for a few days, I have had a lot of time to THINK because my wife has been out of town for over a week.If you are still interested in what I am writing here, please read on... The below is "cut & pasted" from my one page or so outline of article ideas and other thoughts re my blog. This IS kind of long, but you will get the general idea of what I have in mind. PLEASE, PLEASE, PLEASE let me know of any interest. If I do not get anyone interested, I will not go forward... Please send any comments to my name (moniker) at gmail dot com. Thank you! And please read on...
My blog will be about a wide variety of subjects of interest to me, but that I hope would be of at least passing interest to some of you. I intend to write on a fairly wide range of subjects, many of which are listed below. That list is likely to grow, I hope it does. I would like to state upfront that I am not really an expert on ANYTHING, really. One of the purposes of my blog would be to draw into the discussions the opinions of experts. There are many things I would hope to learn from experts as well as all of you, my friends, virtual friends, family and readers. YES, I want have a robust Comments Section after each article, because I am NOT an expert on ANYTHING! I want to learn as well as entertain all of you. I want Comments on my blog! Lots and lots of Comments, because you, my dear readers, are a vastly intelligent and knowledgeable group.
My blog will not be in any kind of competition with any other blog, because I can claim only modest expertise on almost any subject I will address. Below are some topics that may very well be written about soon. Many of these I know interest SOME of you! Please be reassured that I do not expect ANYONE to be interested in them all.
Gold, precious metals and “Freegold”
The Really Lousy Economic Situation (“TRLES”)
Wine / beer / liquor
Tai Chi and related
SHTF / TEOTWAWKI (likely to be a crowd pleaser…)
“Personal stories of my life” (funny or nice anecdotes, E & C know many)
Blogging (introductory)
Poetry & Haiku (yes!)
Peru
Jokes and humor in general (yes!)
“Guest Posts” (that is, I would like to have YOU to write some of YOUR stuff!)
Ball bearings and similar
Guns & ammo & general military stuff
Religion
Evil Banksters (probably another popular one!) / Wall St. Fraud / Evil Empire
South Carolina
Texas and which County is the best! <--- (could be real hornets’ nest…)
Florida
Tourism in Italy!
Tourism in France!
Tourism in Peru!
Tourism in general
Art, music and opera
Astronomy & geology ("Dummies" level, geology includes volcanoes and earthquakes)
Math (yes!)
Fiction (yes! Some of you know I like to read.) popular and classic
History (yes!)
Politics in general!
Computer stuff (at the “Dummies” level, for example topics like Facebook, etc.)
Language / Linguistics / Foreign languages
The oil business
The mining business
The banking business (oh wait, I took care of this under banksters above, let me KNOW if you made it this far, LOL)
The Middle East
Europe and Asia in general
Conspiracy theories / Tinfoil Hat stuff (extremely limited, perhaps humorous only)
Nutrition and health
Other topics can be suggested…
ET TU....... DoChen?
ROTFLMAO!!!!!
I don't understand this at all. In the time it takes to type this all out, you could have actually started your blog. Just do it already, and then pimp it when appropriate like everyone else. Duh.
I think he is joking...
I didn't even need the normal <sarc> reminder.
Either that.., or I'm a complete idiot (which is always in play).
A joke? Well, that makes sense, although not terribly funny. Hardy ha ha.
Either that, or a really, really mean/funny prank on his friend/enemy, "Moniker".
How many people do you think, e-mailed this guy?
Three so far!
To the three who emailed me, I sent you the link.
Due Drop Inn!
I get it now. You're a nut. Without any mates to bounce your ideas off.
Totally inappropriate waste of space. Oh yeah, good luck keeping your real name a "secret". Duh.
He left his email address, or is that a joke too. I think he's serious.
I am serious. I just made my first post. Email me if interested.
Wow, you already made your first post? Holy-cow. You are serious. Good for you. Good luck with everything. I really hope, you accomplish all your dreams.
Have you told your mom yet? There's actually, quite a long list of people, who probably really want to read you. Have you made a list yet, of all the people you know?
You should probably e-mail the president, if you haven't already. Also, consider sending an e-mail, to all the mainstream media outlets. Bloomberg, CNN, CNBC will all definately want to get ontop of reading your blog. From what I hear, blogs like yours are really threatening their existence.
"Have you told your mom yet?"
Damn it.... I almost choked on the olive!
Too funny....
+1
Why don't you post the link to the website of your post, and we can check it out.
I am using my real name at my blog, not DCRB. That is why I ask you to send me a message to my above email, so, you know, I can check you out.
As I get rolling with this, I would ask anyone going to my blog NOT to mention my real name here at ZH.
Thank you!
I understand.
Oh! Good thinking.
You don't wanna mess around, with randoms and hobos reading your blog.
Secret blogs, are always the best kind of blogs.
No, not a secret blog at all. I just don't want my real name gracing ZH.
Next up, I am telling everyone on my email list and my Facebook friends (a 55 yr old on Facebook?).
Sounds risky. You should really, maybe, reconsider the secret blog idea. It might be best, if NOBODY knows it exists. Sortof like, you know, if you blog in a forest, and a tree falls on you, does anybody still read the post?
You should have kept your alter-ego, like Turd Ferguson did.....you never know about the wackos....and people can get down-right mean and demanding....ask The Turd.
But here's what I want to talk about on your blog. If the US prints money, and every other country prints money.....shouldn't it be a win-win for ALL big governments and a screw you to ALL the little people? Globally, wouldn't everything be the same, except the value of existing debt? A rising tide lifts all boats.
I'm with the other poster.....just do it and send us the link. However, personally, I would not post everyday. Maybe once a week...otherwise, no vacations for you.
One of the purposes of my blog would be to draw into the discussions the opinions of experts.
Hoe the F you gunna qualify these 'experts' in the anonymous ether of the Internet?
Good luck...
Those who are consistently right and are able to articulate the facts on a given subject are experts. Whether they use their real name, something to do with their profession, or call themselves something whimsical like "Turd".
Definition of Expert:
X is a mathematical expression for an unknown
Spert is a drip of water under pressure
Therefore, an "Expert" is an unknown drip under pressure.
X is always known once you differentiate it from the others, that is why it is called an independent variable.
so, in other words, kinda the opposite of you LOL
Only if you are peering through the biased perspective of those with shit for brains.
That's Beralious!
Don't you mean belarious? Man you screwed that joke up.
Yes sadly he did. It took me two or three reads to get thats what he was aiming for, when I knew thats what he was trying to say...
Maybe he is Japanese and confused the r's and l's, or he actually is ahead of you and did it purposely. Still funny
They are still paying for Chernobyl - thats what it is. Belarus & Ukraine really got stuck with it thanks to the erstwhile USSR.
http://www.kitco.com/kitco-gold-index.html?utm_source=kitco&utm_medium=b...
Just more examples of why GOLD is the best store of value and wealth.
Don't forget about silver!
http://silvercointrader.com/2011/05/the-silver-price-drop-is-an-opportunity-to-buy/
zing doesn't want you to buy silver :) New teleprompter message from paid troll brigade: "Well, if we can't make you stop buying PMs, then at least only buy gold"
silver isn't in the same league as gold for wealth preservation
+ $55,000
agreed
Silver isn't in the wealth "preservation" league... It's in the wealth multiplication league.
And all along I was thinking league of exponential wealth...
if it's speculation you are after, GGP blew silver away too
It is if that is all you can afford.
Yup and its coming to a dollar near you...
buy gold, save your ass
Belarus is about as close as you can get to an autarkic, industrialized economy today. Their only big trade partner is Russia, which might get hot under the collar about this.
Yes! "Cheap Communist Immitation of Euro-Disney Located In Belarus" here we come!
And why would these be bad for silver/gold or the dollar which is considered the king of currencies because of reserve status?
See you below parity EUR
Vacation time...
half price Belarussian blowjobs!
For foreign dicks the price will stay the same. Belarus dicks just got cornholed because they will cost double.
They'll know if they devalued too far if there is a surging surplus of special sauce hosing the Big Mac index.
Where dat?
Between Poland and Russia.
This is an original Minsk moment.
Ugh!
+ 1/2 anyway
The Night They Raided Minsky's
http://www.youtube.com/watch?v=zFejEwNYAKc
http://en.wikipedia.org/wiki/Belarus
Minsk is beautiful, and the best place to find hookers in Belarus
So that's why I don't know where it is!! I wasn't looking for hookers!
then what were you doing......
Looking for blow
HaHa! Great response!
Belarus in general is amazingly clean and tidy. It's sort of like an idealized cartoon version of what the U.S.S.R. "might have been". Friendly people, that fought on the side of the Allies in WW2.
except for its "uber -president"...
Yes, it's a police government, just like Iran. But the place is CLEAN and GREEN I tell ya, and it's unsual to see Soviet-style architecture in tip-top condition, instead of grimy or run-down.
Haven't been there for 16 years. They were doing this same kind of thing in 2004 and 2005. Pity too. What you say is right about the condition of things. Even the ruins (Brest for instance) were pretty well kept.
ofiget
Coming to a US near you.
well...it has to start somewhere..
nice touch in the article w/ critiques ...at least it makes them feel good complaining and raising their voices...
You could save your savings by switching to commodities or you could pay more, by not.
Bernacke, Pisani, & Liesman were all long BYR backed assets - Geithner will provide Full Faith & Credit backstop to Belarus! Long live the revolution!
LiesMan will have a field day as the expert to go to...
Hey talmud kid!
I missed you!
On your marks, get set, GO!
The race for devaluating fiats has begun!
Oh, yeah, baby...
http://www.youtube.com/watch?v=G898tiPdRq4
I watched that and three others...I almost booked a flight....but then I realized I live in Medellin Colombia....can´t beat it for beautiful women...
1 Hour till markets close green and prolong the 10% gap down overnight by one more day.
This is a very healthy decision. Governments must use artificial and natural currency adjustments as tools in their arsenal.
The US dollar will end up being devalued too one way or another: good news for the economic recovery, bad news for libertarian, anti-inflation bigots.
I dont know why libertarians wouldnt understand that with floating fiat currencies that persistent trade deficits resolve themselves by changes in exchange rates....or eventually the manipulated suppressed currency blows up the economy.
"In the first stage decisions will be made to bring down the increased demand, and upon receipt of the loan rate will be formed on the basis of supply and demand, thus lowering the expectations today are still there,"
i'm sure this is about as much sense as it makes in bella-russki, too-skie!
just shy of a 2-for-1 split. speculative decisions? where?
it takes the FED 2-3 years, sometimes, to do this kind of damage. envy, indeed!
Imagine that, a Soviet style economy devaluing its currency.
Christ, I didn't realize there were still communist nations in Europe.
Check out Moldova. Its main export is blond hookers. Go figure.
I used to think I knew some things...
Yes, Belarus is supposedly the last of the Soviet style countries, still has security serice named KGB. Their Pres refuses to promote agricultural as well as other reforms.
Ukraine, the neighbor to the south has gone through the Orange Revolution. I was initially glad that the country would have more responsible control over its' own terrritory, depite Russia's objection. Well, turns out that Soro and his buddies now run the show; the situation is beyond insane. The breadbasket of Europe needs grain imports (which is quite the scam in itself). I don't know exactly where I going with this except to state that in governmnet - charactor is vital. No system, in and of itself, is corruption proof.
Yeah, when you are taking loans from Azerbaijan to pay off debt to Gazprom, things are not going well.
Bad for savers.
Not terribly bad for gold holders.
Excellent for debt holders.
Actually, a foreigner gains 56% more purchasing power in Belarus, a Belarusian loses 56% of purchasing power in a foreign country, and Belarusians in Belarus keep a stable purchasing power, except on imported goods.
It is "excellent for debt holders" only if your revenue is made of a foreign currency. Yes, the CPI will eventually increase because of imported goods, but it can take a lot of time.
It is excellent for debt holders if they used that debt to purchase an asset such as gold, essentially giving themselves free money.
go to belaruss and try to buy gold bars.....belariuss
go to belaruss and try to buy gold bars.....belariuss
ms wanger: Yes, the CPI will eventually increase because of imported goods, but it can take a lot of time.
this is really quite funny!
Right, how long can it take when the currency is devalued 56% in one day.
Robbing tourist pays twice as well now.
Hookers - two for the price of one?
Foreigners don't gain anything. All prices just increased 56% or more as well.
I was in Belarus when their currency was collapsing back in the mid-90's. Dollars kept purchasing power compared to the Ruble but they didn't gain a whole lot. In some cases they would lose as merchants would jack prices up far more than the currency was collapsing - even in Dollars.
When I landed, a Coke was 1000 rubles (or $1) at the airport. When I left six months later, a Coke was 10000 rubles (or $1) at the airport. Nearly all price tags were handwritten in Belarus.
This is why the USA will see this in some form, at some time, biggest debtor is the Govt, savers o' fiats get slaughtered, holders of metals and rice and beans neutral. Debtors with jobs make out, if swift, and having contracted payment plans, before any banking reforms. Old pensioners starve. http://university.unitedstatesliberty.org/654/textbooks/adam-fergusson-w...
jobs? LOL. Workers never prosper in inflations like this as wages never keep pace.
Those who make out are big levered fish who get lent zillions.
And the clock keeps ticking.
the race to devaluate is the ultimate goal of gobalisation and "international labor arbitrage". That way the Oligarchy circus never stops...it just goes on and on...we delocalise..ad infinitum..from hill to nearby dale...the Hobbits all subservient. Oh Mordor, oh Sauron, oh the fellowship of the ring!
c'mon Greece, get your finger out.
see how easy it is.
cut your debts in half
dump the euro
fire up the drachma
tell the ECB, IMF et al to get lost.
Oh ! I nearly forgot, RENEGE.
But then the capital markets will be closed to the Greeks and they wont be able to borrow any more. Oh wait....
which would mean the politicos cant run any deficit anymore.. so its not going to happen.
Corruption index is pretty high in Belarus...
er....uhh....the language police tell me that Jealousy and Envy are two quite different things.
You can be jealous, and you can be envious. But neither you nor the Greeks, can be be jealous with envy.
Just sayin'....
+1
Babes of Belarus...
2 for 1..
Wawa weewa very nice!
http://www.youtube.com/watch?v=LBduNcf1eQc&NR=1
this is risk on, right?
What did the Belarus currency do when the ruble went poof in 1998? Was Belarus using the ruble then?
they always used rubles
they always used rubles
they always used rubles
They have Belarussian rubles. They aren't (or at least weren't) the same money as Russia.
I was afraid this was going to happen...so is Grece next?
...then Ireland?
...then Spain?
...and so on?
Uh, ironically enough, could be Iran? http://www.reuters.com/article/2011/04/02/businesspro-us-iran-currency-r...
Does NATO have any plans to intervene in these places?
What's a belarus?
A Russian buffer state.
white russia..
I would think that any Belarus person with relatives in the US are callling for some Western Union moneygrams to pay off their debts. Or to stock up on provisions before the inflation works its way thru the lines.
Not sure what % of their population works in W. Europe, but that percentage will likely rise dramatically. Heck, they can even go to Russia and make mad spend.
I guess the moral of the story is to never be a pensioner. You're a sitting duck regardless of what currency you may have faith in.
Or as a pensioner savings must be kept mostly in metals in safe deposit, full cupboards, and at least alt currencies, too .
I've known young people from former Eastern Bloc countries countries that would come and work for the summer here in the US then return with a chunk of cash and try to do something useful back home, the kids from Belorus stayed here.
"You're a sitting duck regardless of what currency you may have faith in"
If you have faith in fiat currency then you are a sitting duck regardless.
Western Union doesn't help. You have to pay at least 56% to the mafia thug outside the door.
This only means that it now takes 56% more BYR to dig the shiny stuff out of the ground.
Havenstein/Bernanke Fan Club in Minsk is getting a lot of mail.
Reminds of this limmerick by Pasquale Orsini:
There once were three bros from Belarus
Who said to gal, "would you marry us?"
You'll be able to chose
Whose organ to use,
And the positions, of course, will be various.
Reminds me of a Belrusian Govt poster. "16,000 Rubles is good for a litre of Petrol, until it's not".
That's pretty much how I see the final crash of the USD, except our PTB Folkers will let it crash 50%, and let it pop back up to 45% and say, "See, we made you 10% already! ... you ungrateful peasants."
It's an instant surcharge tax on the people. It's like confiscation/revaluation of gold all over again, only much quicker and easier for TPTB.
TPTB say they are determined to create an orderly decline in the USD. They only say that for the suckers, to prevent a run on the currency. Rational people ignore the Folkers. The USD is eventually going to go like Belarus and Iceland, a thief in the night that surpises everybody but shocks noone.
They let you think you have time to exchange for another currency, or asset. But most will might just wake up one day to find out on Drudge that your 401K and other accounts have all been converted to the new "Patriot Dollars" at a new exchange rate to the Euro and Yuan, devalued by 33%. It would never work if they told you beforehand what they were going to do. The whole is to catch the suckers offguard or the theft doesn't work.
Assuming we started at a DXY 90 and the Bernank wants a Chinese 40% revaluation, then we could be on our way well south of 60 DXY to get where Benzebub really wants it to go, made harder by the Chinese not depegging. After the USD closes below all support past 70 and starts falling hard and fast, why not just say WTF, and devalue it overnight before people have a chance to run out of it.
Let this be a lesson to the gold/silver trolls.
I would expect the populations of neighboring countries to start rushing for the exits on their currencies and start buying gold and silver to protect themselves from that same thing happening in their country.
Not likely. Belarus is an anomoly in the neighborhood. They've had a strongman soviet dictator for over 15 years and their economy has been a basket case since the fall of the USSR. Poland, Ukraine, Latvia, Lithuiana - not so much.
That's like a 2 for 1 sale on hot women.
Hot women in Belarus?
all over the world the same..
It's not a problem to work for Bialorussians to work in Poland without restricted permissions. Ordinary people living next to the border will manage, but the rest? The only reason is to make people angry on Lukashenka - and change the government. Probably after last trying to do this in peaceful way - someone decides to go into plan "B".
You worry abt' 5-10% declines of USD in a month, so what about stealing more than 50% in one day? But the real exchange rate is much higher! You can't buy dollars for official rate....
No matter what you own in Belarus you just doubled your money. Probably their wages will double over night as well. It's a win win.
no, no no. True your Spagetti Os, you bought last week, just doubled in value, because prices just doubled, for all things you'll need this week, and wages will take a while to catch up. That's how it works.
They should just go on general strike until their wages are doubled. If such a currency change happened to me I'd be on the street selling my surplus used shoes and socks. Somehow the govt CPI sets my pension increase at .5% a year.
carlos, bookmark this and shortcut to your desktop then read, at your leisure, friend, eye opener!: http://university.unitedstatesliberty.org/654/textbooks/adam-fergusson-w...
That's pretty much how I see the final crash of the USD, except our PTB Folkers will let it crash 50%, and let it pop back up to 45% and say, "See, we made you 10% already! ... you ungrateful peasants."
It's an instant surcharge tax on the people. It's like confiscation/revaluation of gold all over again, only much quicker and easier for TPTB.
TPTB say they are determined to create an orderly decline in the USD. They only say that for the suckers, to prevent a run on the currency. Rational people ignore the Folkers. The USD is eventually going to go like Belarus and Iceland, a thief in the night that surpises everybody but shocks noone.
They let you think you have time to exchange for another currency, or asset. But most will might just wake up one day to find out on Drudge that your 401K and other accounts have all been converted to the new "Patriot Dollars" at a new exchange rate to the Euro and Yuan, devalued by 33%. It would never work if they told you beforehand what they were going to do. The whole is to catch the suckers offguard or the theft doesn't work.
Assuming we started at a DXY 90 and the Bernank wants a Chinese 40% revaluation, then we could be on our way well south of 60 DXY to get where Benzebub really wants it to go, made harder by the Chinese not depegging. After the USD closes below all support past 70 and starts falling hard and fast, why not just say WTF, and devalue it overnight before people have a chance to run out of it.
Its BYRUSD, not USDBYS. So that's an appreciation, not deprecitation.
According to the BBC, it's 36% devalued against the US dollar. 4930 BYR from 3155 BYR, and because the BYR can only be exchanged at their central bank, the black market for foreign currency in that country must be thriving. The interbank rate is around 7000 BYR to the USD anyway, so it's not as if there's been a big change from yesterday.
The shops are said to be empty of goods, importers lacking hard currency to buy anything and set to get worse. But according to Alex Pivovarsky of the European Bank for Reconstruction and Development, "What they have done today is a positive step".....Right. I can see the vultures circling from here.
http://www.bbc.co.uk/news/business-13508159
There's a bigger story here. President Alexander Lukashenko is sending regime critics to prison. He is cracking down on dissents and protesters: anything to desperately hang on to power. Is this what it's going to look like in other countries (like the US) when the chickens come home to .... As first reported here:
http://thesilvergoldhedge.blogspot.com/2011/05/belarus-currency-crisis-a...
Since devaluing your currency is considered a positive for your economy, then everyone in Belarus should be living the good life here shortly.
Although I am sure the Bernank prefers the maxim that you can sheer the sheeple many times, but can only skin them once(per election cycle).
who is their chairsatan?
Belarus....mmmm...isn't Belarus just north of Idaho:
http://www.usdebtclock.org/2015-current-rates.html
Backwards folks. My BYR can now get more USD, not less.
Belarus Tractors, for me this is up close and personal. Belarus Tractors are maybe 5th or something in the World market. There is talk of a Bankruptcy. There is talk of corrupt governments in Russia land. Now we see an unhealthy Belarus dollar.
So who gives a flyin Funk ( Funk Brothers Aircraft Manufacturer and tractor modification )----- Me for one. I won three of the Belarus tractors and do not want to see any worse parts supply.
So how does one get themselves into such a mess like USSR/Russian Tractors? Well, the things are like a Stalin tank and designed for the faint of mind to fix. A pocket knife and a sledge hammer will fix any mechanical problems. Any fool can fix one which is handy, because only a fool would own one.
I too, foolishly love the Belarus tractor.
Do they make a hybrid or electric powered version?
Bernanke could do this and then hold a press conference reiterating his strong dollar policy.
My wife and I do business with Belarus via our Ukraine exporting company. It appears to us (my wife is formally from Kiev) the Belarusian people are very happy with their lifestyles – much more so than our Kiev/Ukrainian friends etc.
Proof perhaps that dictatorship has its worth in tuff times – keeps the machine running with people that didn’t overstep their personal financial targets and wants.
Definitely bullish. Buy more LKND.
Is it bad that I hope the USD does this as well??
Tired of slogging along working while everyone seemingly runs around unemployed frolicing their time away at starbucks on their laptops and sleeping until noon.
I want to sleep until noon dammit! But I can't until my silver skyrockets and I can buy my neighborhood for pennies on the dollar.