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Russia Ruble Collapse Escalates To Record Low
With all eyes on Russia over the next month as the Sochi Winter Olympics ramps up, we are sure having the market's attention on a collapsing currency is not what Putin had in mind before he dropped $50 billion to make it snow. While the Ruble remains just above record lows against the USD, Bloomberg reports that it has dropped to a record low against the central bank's dollar-euro basket. Russia's finance minister proclaimed today (Erdogan style?) that Bank Rossii should not raise rates (which has been unchanged at 5.5% for the last 15 months). Russian CDS is widening (193bps at 4 month highs) but not cratering like other EM currencies but MICEX (stocks) have had their longest losing streak since April.
As Bloomberg adds,
The ruble depreciated 1.2 percent to 40.9632 versus the central bank’s dollar-euro basket by 6:01 p.m. in Moscow. A weaker ruble encourages Russians to withdraw and convert local- currency deposits, Sberbank’s main source of funding, while hurting retailers by making imports more expensive in ruble-denominated prices.
“Investors are scared of the ruble devaluation,” Sergey Vakhrameev, an analyst in Moscow at AnkorInvest LLC, which manages about $30 million in assets, said by phone. “During strong devaluations, stock markets fall, investors become scared of indexes in countries where the devaluation isn’t controlled.”
Of course, this will only make the bank run problems worse...
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Gold bitches...that is all
Don't forget the Ag!
Hold on! Are EM currencies losing value, or is the USD gaining value?
I'm skeptical.
I like Ag instead.
Gold is unimportant.
Russia is the number 1 oil producer in the world. That's all that matters. It is priced in dollars. The lower the ruble, the more rubles come in every day as they sell about 8 mbpd of the 10.7 they extract from the ground.
Money is imaginary. Gold is money and therefore its value is also dependent on agreement of parties.
Joules are not imaginary.
Oil is lacking some of the desirable properties of gold, namely portability and durability.
Don't forget the 3 B's; beans, bullets, and band-aids. Gold and silver are a must, but they won't see you through the revaluation process.
Also, gold is not unique in that its value is dependent upon agreement of parties. The value of all things is subjective.
No. It is not.
Joules bring food to your shelf. The value of calories is not subjective.
Maybe, but the value to me is subjective. Organic healthy calories I will pay a lot more for than GMO McDonald's poison calories.
Food is of course more valuable than gold in a survival situation, but that doesn't mean that the amount of value agreed upon by two parties is not subjective. If I have all the tasty food I need then another's food has little to no value to me, and I may prefer gold so I can buy whiskey and back rubs instead. Of course the 'need' factor is greater with food than gold, but price and value (which are similar but not the same) are not products of need. They are products of supply and demand, and demand is influenced by but not directly correlated to need. If people prioritized their needs more highly than their wants we wouldn't be in this mess. I would agree if you had said the fact that calories have value is not subjective, but the same could be said for gold. Everything has value, the question is how much, and just as importantly, to whom.
GMO McDonald's calories are more expensive, when you factor in the cancer and heart diease.
ANY PMs, Bitches!!
In.Your.Hand.
Hey!
The currency plummeting?
Just in time for massive demand as everybody going to Russia converts into Rubles from their own currencies!
Fuckin' A, momma!
Houston, we got a problem
Is Leo Wanta in Moscow?
If Russia is smart they will sell off the rest of their US treasuries and buy gold.
There is a new buyer in town and it is the lower 90% of Americans.
Beat China to the punch Russia, before its all gone.
Oh yeah, and quit exporting palladium and platinum..that is just plain retard.
Yes...seems like you tell...and also I have thought rather than Olympics, those monies would be better in spend for gold reserves.
not second guess..wait
Gonna be nickel night at the ole Sochi cathouses..................bitchez
April '07 Russia held $7 B in treasury debt...peaking Nov '12 @ $166 B...now maintaining about $140 B.
if T's were bought to weaken their currency...seems mission accomlished. Does that mean you sell to strengthen the currency and take advantage of their energy exports rather than giving the blue gas away to EU cheap???
All Russia has to do is to back their currency with PM -- all PM: Platinum, Gold, Palladium, Silver. In that order. Then dump some USTs for good measure.
What a fine way to tell the NWO to "take a long walk off a short pier".
Why? The kleptocrats would not be able to loot as effectively...
The Russians running the show are greedy clowns with no real game plan... That should be very obvious...
Edit: Looting as fast as you can hardly qualifies as a game plan...
You may be right, but Putin looks like a chess player to me. Some of the moves we see out of him have resulted in a checkmated opponent (US, Britain) here and there. Granted, we can call these plays mid-range thinking, but still I think there is more going on than just mindless looting.
No one has a plan they are implementing to deal with what is coming except individuals and small groups.
Get to your life raft.
How was the US checkmated? Do tell...
Unless you are a conspiracy theorist who thinks Snowden is not legit, then I give you the end result with Snowden as one example. Another one is the situation where we were going to invade Syria and Putin stepped in to "mediate" regarding the chemicals. We could not just roll on in after that.
Invade Syria?
The Kerry "Gaffe" allowed the situation to be defused and allowed Putin to save face... Unlike Bushie, this was mission accomplished at very little expense...
So they all planned that behind closed doors? Or? Have a hard time following how that would get worked out in a real interaction with real human beings.
You are entitled to your interpretation of that event. None of us know what is really going on with these bastards, we are not there. It did leave me with the impression that the US was outmanuvered (even if we stepped on our own foot in reality) by the Russians. That looked to me like a checkmate which is what you asked for an example of.
True, no one knows exactly what transpired. But to any serious student of history, this was a diplomatic masterpiece...
Syria is the last remaining Soviet client state in the Middle East, Kerry et al. got Putin to agree to throw Assad under the bus vis a vis his chemical weapons. All at very little real cost...
.
Then don't let the basket of precious metals exceed the value of your currency or Russia will have to "close the gold window."
Barry can just make a Trillion$ Platinum coin and solve this crisis.
It would be easy 4 them 2 mint Pt & Pd coins.
kolapse beetchiz
Maybe instead of Ruble they should call it rubble.
Edit : Amazing. Look at all these Putin lovers as if he is any different than any othe fascist head of state.
It's a short hop to bubble.
spoken from a true cold-war warrior!
Do you really believe he is giving Snowden asylum because he is some great defender of freedom? No, he's doing it because it helps him on the world stage. But in the end he is no different than Zero when it comes to the desire for power. The fact that there are so many Putin worshippers on here is stunning. They are no different than the Obamabots. I for one am wary of any person seeking power.
Yeah, I remember standing at the Berlin Wall, staring at an graffitti that read: "Enjoy your last can of Coke for the next 5000 miles!" Not that much has changed since ...
He's popular among some because he likes to bitch-slap Barry. Well, umm...duh?! Who wouldn't like that? Who can't do that?!
Vlad is the strong-leader type devotees of the cult of personality latch onto, perhaps there is a difference in Vlads bots and Barrys bots in terms of why they support their guy, but you are dead right in the lust for power each have.
I'm sure the asylum had nothing to do with the secrets Snowden has/had possession of either.
?
??
???
Russia would very much like to be an industrial/ manufacturing (geography and demographs don't help) powerhouse... rather (other) than compete with the world's MIC's, and or's?. Putin see's progress not through military brinkmanship with the ussa, but using its leverage?!? Vlad (as i like to call him) knows a 'one-trick-pony' in todays complex'd evolving economies must diversify and be flexible to change as the globe trots from desktops, laptops, tablets, to all-in-one smartphones etc., etc., gadgets, as we'll as molecular/ biological science.
Note: There is, and currently are great promise for Russian 'Thorium Nuclear Reactor's' implementation in the near future.
Lastly, the Russian's aren't the Leninist/ Stalinist lovers of old too be sure! They realize that oil, gas, and natural resources aren't the panacea for a prosperous or existential future, unless their leaders are pragmatic, and forward looking as is ( not a bad leader for an ex-kgb officer) Putin!
Yet another Putin apologist....
Call me when the Russians fire up their Thorium based fuel cycle reactor....
\facepalm
Absolutely right Doc. Sociopaths never change.
I think the deal is Putin wants a strong Russia.
Bath House wants to flush the USA down the toilet.
Nobody like a "leader" who betrays his own country.
But, since he is not an American, Bath House has a clear conscience at night.
Putin doesn't want strong Russia, if he does anything good for Russia it is only in limits required to safeguard interests of Jewish oligarkhs who have stolen our national wealth. Stability but at minimum cost, I mean just to keep people under control.
dr E....I'm not a supporter of Putin....but I am a fan. Why? Because he does things to the Zero that I wish I could....he punks him out on a world stage. he keeps him from forcing his will upon other countries with little to no disregard (Syria). and he gave a US whistleblower (Edward Snowden) asylum.....
yes, I know he is an evil man. yes, I know he is looking for his agenda....but at least there is a counter force to the 0.......
I strongly oppose Putin. But I would neve gave up Snowden because it's a matter of national pride - if somebody innosent seeks your support you must grant it, it's a moral issue.
Better worrie about your own country...
Makes gas cheaper for the EU
In Soviet Russia, ruble collapse you.
Putin must be bad at running his economy; if the Sotchi budget is anything to go by (Hmmm, oh those kickbacks!)
Sitting on Gazprom and with the Ruble acting like rubble!
If you pocket 1/3 of the budget, you're not necessarily bad at running the economy.
In the end natgas will be traded for euros, so the secretaries are outpriced in the race to buy Louis Vuitton, but do the Oligarchs care?
This is just speeding up the inevitable collaps of fiat - one currency at a time.
The two tourists should like the better exchange rate....they can buy a cuddly bear or something as a souvenier..cheaper
USD's...
Good as gold Bitchez!
Use the dollar or face the Secret Army of the cia and mi6
And the winner is the dollar still.
Payback for stopping the Syrian war and for giving asylum to Snowden who was nominated today for the Nobel Prize by two Norwegian politicians. All emerging market countries should increase their gold in case their currencies are attacked.
http://www.theguardian.com/world/2014/jan/29/edward-snowden-nominated-no...
+50
Absolutely no question this is what we're witnessing
This isn't mere coincidence that all of these currencies 'literally overnight' are collapsing. The Norwegians and this trivial but significant PR campaign promoted for Ed Snowden's benefit against the embattled U.S. Government is the rest of the World taking their money elsewhere and Washington with London's tacit approval threatening everyone at the "table" for doing just that!
Turkey's government is also bowing out in the planned mission for Syria which is causing their present suffering the markets and the people on the street in Ankara know it, unlike their American counterparts! This is punishment for those who aren't willingly ponying up and who don't follow the script they've been given and this will only escalate to something bigger.
This don't end well for anybody. But it's time for the rest of the World to put ol' "Miss Liberty" in her place if we're ever going to see any positive changes. The American people will continue doing what they do best and remain neutral spectators to their own government's actions and this is what will end up making it the "train wreck of all train wrecks".
Very sad situation for everyone involved.
I agree this shit is all coordinated. Hey I thought the mouth breathing moron from SocGen said that the EM is saved? Maybe Russia should hike rates. Big time.
It's like being at the zoo, watching monkeys throwing shit at each other. How do you win that fight? Hike rates, the currency is saved, oops no it isn't, ok revenge against Russia, jam their currency too, the punish MOAR.
Ok seriously when does everyone, and I mean all EM, just fucking dump USD? Just do it.
riddle me this...why if these guys are adversaries did Russia increase it's Treasury holdings from $7 B in '07 up to $166 B in '12??? Still holding bout $140 B. Before '07 Russia was never a significant T holder. Why as an exporter w/ a budget and trade surplus would Russia want to weaken their currency for energy that EU is forced to buy @ whatever price??? Very strange actions if adversaries of the US???
Why has Germany's Treasury holdings not changed one bit since '00 (@ $50 B)??? Why is Germany not getting it's gold back??? Hell, Belgium owns $200 B and Ireland $120 B (massive increases since '07...but Germany isn't playing ball???).
Why is China, the largest holder of T's, getting all the gold??? $1.3 T in T's and huge dollar reserves gets you a place at the table.
Why is Japan being allowed to debase their currency and undercut other exporters??? Something to do w/ $1.2 T in T's and huge dollar reserves???
Good questions. Add another. Why was China allowed to be a direct bidder of treasuries in 2012? The only foreign nation given than status? There is much much more going on behind the scenes.
Like the PRC secretly owns 75% of NYC?
Because Putin is no rogue. He is owned just like the rest of the morons.
http://www.loonwatch.com/wp-content/uploads/2009/12/putin_yarmulke.jpg
Backup: it was also a "coincidence" Morales' aircraft was forced to land in saerch of snowmen.
I suspect they are working overtime at the secret HQ of the ESF, using their nsa data to wage money war.
yeah, russia's snowden amnesty, and the ussa turning totally gay in a politically (amazing-- you'd think there's a better way to control the population?,... through the amnesty bill?? maybe;-)) correct minority atmosphere in the last decade (more wedge issues now...than, michelle's[???] got gender issues) and the USSA calling out human rights issues while we slaughter a billion unborn children a decade (u-go-amerika)! obama's adm., lost control of syria, libya, tunisia(?), yemen, bahrain... as they did egypt now very close to military rule having by-passed independence goal`lines set three gruelling years ago in a far off 'arab spring`fantasy surreal dream(?)! ironically, returning to their forlorn, broken and forsakened... bedouin roots!
and it's russia's fault for bringing peace to iran, and syria, and helping the ussa many times in afghanistan via turk's, uzbek's, and tajik's...
so we get the BIS (basel) to slaughter the weak again for the democratic abattoir???
if this is a democracy we live in amerika today, it's time for a mass labotomy recruitment!!! think of all the spare parts ie. kidneys
jmo
thankyou tyler
Oh my....
Does the term troglodyte ring a bell?
With Russia and the ruble in the news, and the White House criticizing Russian social policy, it’s significant to see a finger-in-the-eye to Uncle Samuel from the Norwegian members of Parliament who are nominating Edward Snowden for the Nobel Peace Prize.
Quite an international criminal, n’est-ce pas? With the Olympic theme of cooperation and peace, Russia seems to be ideal place for the Olympics of 2014.
I'm putting all my money in real assets: DogeCoins
http://dogecoin.com/
Do you think the transaction fees will grow enough in the next ~15 months to support the network, once mining ends?
"I'm putting all my money in real assets: DogeCoins".
Rest in peace for the ashes of your money. Amen.
Deleted.
Looks like the PPT is doing everything it can to hold the 100day avg. in ES.
http://imageshack.com/scaled/large/716/m0yb.png
I thought Russia was the new Libertarian paradise based on all the Putin apologists here....
If you can't keep your house in order despite exporting ~7 million barrels a day of oil, not to mention massive quantities of NG, it is clear that you have no fucking idea of how to run things...
Putin and merry band of kleptocrats are just another another chapter in a long history of incompetant Russian rulers...
It might have to do with the amount flowing into their own pockets, rather than into State coffers. Maybe they really are anti-statist, and this is the plutocrats version of destroying the state.
The plutocrats are the state... That has always been the case in Russia though the plutocrats have had a variety of historical labels...
Putin and merry band of kleptocrats are just another another chapter in a long history of incompetant Russian rulers...
I'll take Putin's kleptocratic leadership over the Anglo-American-Israeli cabal any day of the week. At least he's pragmatic thinking long term about his Country's future unlike "the tribe" that runs it in the West that doesn't give a fuck about it's own people (outside the immediate family) and who's only motivation is to take it away from everyone else that wants to run it their own way -No matter what!
You clearly have never set foot in Russia let alone lived there or even talked to Russian ex-pats...
BTW, you are obviously one of those apologists I was referring to. And let me guess, you would think even more highly of him if he added good ol' fashioned state pogroms to complement the recent homophobic rhetoric...
PS Giving yourself a greenie is pretty fucking lame...
Flakmeister
Still plenty of "you" inside the Country attempting to scuttle what certainly is more of a democracy than the United States has been since 9/11. You have to admit the double standard of all the destruction we have been witnessing around Israel's neighbors and sanctioned by the usual suspects isn't Putin's "Schtick".
Regarding the turmoil with his next door neighbor I encourage you to watch the video of the question Putin raised of what would happen in Greece or Crete if a "John McCain" of the Russian persuasion were to show up with a bullhorn standing on rubble he helped to create protesting the sanctioned military riot police beating back the crowds of people demanding the money from their banks!
http://rt.com/news/putin-eu-ukraine-summit-293/
P.S.
I didn't give myself a '+^' ;-)
Are you serious? More of a democracy??
What has destroyed democracy in the US is the gerrymandering of congressional districts but it is still light years ahead of Russia...
BTW, you really should learn to argue a point without reliance on strawmen...
What has destroyed democracy in the US is the gerrymandering of congressional districts but it is still light years ahead of Russia...
Yeah... Gerrymandering and all those Corporations that tell the 'anointed ones' what they will do before they set foot in D.C. along with the Justice Department down to the State and local level -especially if it has to do with commercical banks and MIC contrractors furnishing jobs in their Districts...
As for my building "strawmen" using international news sources that are unfiltered and that choose to represent crtiical information in something other than filtered sound bites that the Fourth Estate in the West would rather ignore than telling the "whole truth" -I'm flatered!
Yawn....
You clearly have no idea what gerrymandering has done, do you?
I have to jump in here. The U.S is not a democracy and you should know that, and neither side of the two official choices are guilt free when it comes to the gerrymandering of districts.
Re: Gerrymandering both sides are guilty, one slightly more so than the other. My point stands that gerrymandering has destroyed the House...
Given the absolute nonsense being said here, quibbling over whether the US is a democray or a constitutional republic is moot...
BTW: Statistics don't lie if you speak their language
http://www.nytimes.com/2013/02/03/opinion/sunday/the-great-gerrymander-o...
Sorry, but my memory goes back a lot further than the last few elections. The democrats held the house for years by redistricting or maybe you forgot about Tip O'Neil.
"quibbling over whether the US is a democray or a constitutional republic is moot"
As far as I am concerned it is not. A democracy allows the minority to be run over by the mob. A constitutional republic by it's design curbs that problem.
the effect is not partisan. it's irrelevant who profits, it's about how the system is affected
I remember the Tipper and Gipper show very well....
Show me where House was skewed 30 seats during the Tip O'Neil era...
No democracy anywhere..propaganda by US/west is used to manipulate things of useful idiots with no real choice
twisted word to fool gullible to think it is about freedom. Founders Representative Republic ideal is never heard.
Russian Federation officially listed as Federal Republic.
as opposed to "democratic west"....farmers can sell wholesome raw milk and products freely.
that is only one of thousands of examples
Russia is more free in many ways and gaining..
weak......biggest pogrom was 1917 onward committed upon ethnic Russian peoples...
A fine non sequitur on your part...
What Stalin and his creatures like Beria oversaw does not change earlier history...
Beria was ajew.
Really? Care to cite a source on that?
Beria was Georgian Orthodox....
I heard Stalin was a joo.
His real name was Stalinshalakashvilistein.
What Stalin and his creatures like Beria oversaw does not change earlier history...
Conceived in London, Paris and New York...
I dunno what that fancy Latin word means, but the Broncos are a lock!
The Putin Mancrush group at ZH vehemently denies your claim, but presently does not have the time to do so in writing as they are too engrossed in watching him swim to the North Pole and frolic with endangered whales.
Sounds like a pissed off Zionist Yid's tantrum along with the Jim Baker's and Hillary Clinton's losing lots of money out there!
Just sayin
I love it how the anti-semitic bigots always rise to the surface...
Between your thinly veiled bigotry and your compatriot claiming Beria was a jew, it is pretty clear what cut of cloth you clowns are made off...
Are you going to start denying the Holocaust next?
What Holocaust?
Anit-semite Na!
Anti-Zionist You Betcha!
Ask me about the thousands of Jews that live in Iran that can't be bribed by the State of Israel to move to Tel Aviv or a new settlement with jersey walls du jour in the "Land of Milk and Honey"?
Ask me about the "True Torah" Jews that won't acknowledge the State of Israel's existence as being anything other than blasphemy to the Judaic scripture and teachings?
Mind you, I'm not religious nor do I hold an opinion either way on Talmudic vs. True Torah teachings, but it is interesting how Zionists hate there fellow countrymen and women who are orthodox and have something to say about the true origins of their religion and where they come from.
Sure thing...
Don't stop now, you are on a roll...
Let me couch my prior comments by saying that what Israel has done in hijacking a religion as a tool of power is no worse than what Western European Christians did in the 18th and 19th Centuries under the mantle of "Manifest Destiny" in it's westward expansion.
After all this is why the thieves in England, the U.S. and Israel are such good roommates!
...and, Khazars are converts to Joodism, not the original jews who lived there 2000 years ago.
For all the folsk that don't read Hebrew please explain.
"the State of Israel's existence as being anything other than blasphemy to the Judaic scripture and teachings?"
How is the state of Israel "blasphemy" to Judaic scripture and teachings?
there are folks who believe that Israel will be formed in messianic times, i.e. it's too early, ergo invalid. just a factoid
Judging by all the Putin love, I am convinced that there are a bunch of red teamers posting here trying to pass themselves off as libertarians. It's either that or they don't know what the hell a libertarian is.
It should be clear that they don;t know about a lotta stuff...
alternative explanation: Putin exhudes fascist charme
virility, purpose, A Father Figure. calm presence. The Man.
Yep...
Warms your very cockles doesn't it?
The Koch Brothers would certainly be proud of your comment.
Papa Koch (may he rest in peace) along with Armand Hammer certainly loved the Russian people... No doubt about that!
I think Stalin was the one who really screwed them up. Like other groups, his paranoia made him think becasue the Germans occupied their territory, they co-operated with them. If he had not dispersed them, there would have maybe been no Chechen War.
I thought you did not fall for the red/blue team nonsense.
Unless you were refering to rednecks, then I fully agree. When you have never traveled further than 2 miles from your birthplace, you may not be aware of the game that the Putin is playing.
My point is that people seeking power are all assholes. And the people that worship them are just sheep. Putin is an asshole just as Zero is an asshole...the list goes on. They are all empty suits selling their souls for the sake of power.
Assholes are both Red and Blue, therefore they should not be used in a sentence ever again...
Currency Wars, bitchez! Clearly Jim Rickards did not help the Ruskies upgrade their SW tool for Currency Wars between nations.
Interesting timing and ramp-up... The US and their EU stooges seem hell-bent on ruining Sochi 2014 for Russia: suicide bombers, Ukraine protests, currency wars...
Russia must maintain their defensive posture to not get provoked -- while using their Defense (global PR, resource leverage and military security) to 'expose' the US and EU Emperors as... NAKED, for the whole world to see.
The Russians have been endearing themselves to residents of the Caucasus for 200 years... Let's give credit where credit is due, Russia is quite capable of fucking up the 2014 WInter Games all by themselves...
Maybe you will get lucky and Chechen move in next door or marry your daughter, etc...
I think you know nothing about the subject.
And I think that you didn't understand what I wrote...
Putin may very well be the richest person on the globe.
He allowed the Oligarchy to build up strategic enterprises into massive money making machines, gave them access to the Bureau, rubbed their rear ends, then confiscated all of it. Oligarchs were threatened, bankupted, run off, jailed, and worse.
Now a new crop of fish will help him do it again.
If you doubt this, simply search yourself for what has transpired since the days of Ole' Boris.
Putin was, is, and always will be Old School. There will be no serious challenge to his authority any time soon.
He could give two shiyts about the currency...he has the resources which are the real money
Putin == Andropov but with a better PR firm on retainer...
And if his homogenous PR firm doesn't work out in the future, perhaps Hill & Knowlton can help him out with a new campaign?
Yes. Still serving their loyal customers in "business" after all these years!!!
Bush was cia
Clintion was cia
Bush2- cia
Obutthole-cia
A falling Rubble compared to the Dollar is good for the export industry of Russia. They can now better compete in price with the other energy producing countries which cant devalue their currency that easy. Russia has enormous amounts of US Dollars, so it became richer in local terms.
Most important is the rubble vs. the Euro, since Russia imports most of its goods from Euroland. The rubble lost only 5% during January which is well tolerable for Russia. A bigger rise or fall is not to be expected in my opinion. China, Euroland and Russia do jointly stabilize their currencies towards each other. The present exchange rates among these countries is well accepted and its going to stay like that for a longer while. Its only the US which is not happy that it lost the power over this giant joint cuirrency block the EuRuYu.
FWIW, Russia is still running a dwindling current account surplus
http://www.tradingeconomics.com/russia/current-account
Getting more roubles for for your oil only leads to domestic rouble denominated inflation, on that point the Austrians are correct...
When commodities are ~80% of your exports you don't have much room to play devaluation games....
A weaker ruble encourages Russians to withdraw and convert local- currency deposits
Got bitcoin?
As a young, starry-eyed idealist, I applauded and praised the "mechanics" that ended the Cold War. At that time a wise man warned me that USSR would be back, and that we'd (US) have hell to pay.
None of the major players on the stage have any interest in seeing the US succeed in any capacity. They've all got the dirty end of the stick. I just hope they fuck the bankers first.
Putin continues to strengthen his alliances and increase his grip.
There will be a point when he'll tell the rabblerousers to "Come and get it Mo Fo"
So the article is saying that debasing a currency is bad because it makes shit more expensive and causes bank runs? Then why the fuck are we trying to destroy the dollar? Bankers can't seriously be this stupid.
Destroying the dollar relative to what?
Please don;t say gold, the dollar is up 35% over the past 2 1/2 years...
...destroy it relative to the new one world commiebuck.
"the dollar is up 35% over the past 2 1/2 years.."
Really? Please show me where gasoline is $2/gallon or where milk is $1/gallon. All I've seen in the past few years is massive currency devaluation.
Have you heard of Peak Oil?
You might want to read up on what happens when you cannot increase oil production...
Are these paper rubles or physical rubles? We all know who controls the paper markets. Is this revenge for Putin stopping the planned Syrian war?
No way Jose...
BTW, just what is a physical rouble?