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The Tanks Are Rolling In Post-Devaluation Kazakhstan

Tyler Durden's picture


Following the 20% devaluation of Kazakhstan's currency on Tuesday, the nation has quietly drifted into a very un-safe scenario. As the following clip shows, tanks and Humvees are lining the streets around Almaty as stores are closed and food is running desperately short. Local accounts note that the people are growing increasingly indignant. At a mere 192bps, the cost of protecting Kazakhstan sovereign debt from default (or further devaluation) seems cheap in light of this.



Tanks and Humvees lining the streets around the largest city in Kazakhstan...


Kazakhstan CDS remain notably cheap...


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Thu, 02/13/2014 - 16:05 | 4433486 PartysOver
PartysOver's picture

When it goes bad it goes bad in a hurry

Thu, 02/13/2014 - 16:12 | 4433510 Occident Mortal
Occident Mortal's picture

This is a bit strange isn't it?

Doesn't Kazakhstan have a strong trade balance due to their oil and gas exports?

Thu, 02/13/2014 - 16:16 | 4433527 elegance
elegance's picture

Lol. There are no limits to what the Nazarbayev family can steal.

Thu, 02/13/2014 - 16:21 | 4433550 Occident Mortal
Occident Mortal's picture


There should be 30-40bn USD a year flowing into Kazakhstan (population 16m).

That's a huge balance of payments. Why the fuck are they devaluing? How much cash has been flowing out!?!?

Something here stinks.

Thu, 02/13/2014 - 16:27 | 4433596 Mad Max
Mad Max's picture

OK, why are there Humvees in Kazakhstan?  Not many countries other than the USA use them, and last I checked the USA was not buddies with Kazakhstan.

Thu, 02/13/2014 - 16:58 | 4433707 disabledvet
disabledvet's picture

sounds like Elon Musk gets another place to launch his rockets from then.

Thu, 02/13/2014 - 20:08 | 4434450 SafelyGraze
SafelyGraze's picture

remember to return our police cruisers when you are finished with them on the streets of kazakhstan 

miami PD

Thu, 02/13/2014 - 17:07 | 4433743 American34
American34's picture

I didn't see any tanks. Those are all BMP's, which are similar to a Bradley but somewhat less capable in certain areas.

Thu, 02/13/2014 - 18:24 | 4434077 svayambhu108
svayambhu108's picture

You are right they are not tanks they are BMPs. This kind of vehicles had been used before against population, in Romania:


Thu, 02/13/2014 - 18:53 | 4434190 Suisse
Suisse's picture

They are not BMPs, BMPs are a tracked IFV. Those are BTR APCs and are also pictured in the Romanian photos. 

Fri, 02/14/2014 - 20:07 | 4438155 Hacked Economy
Hacked Economy's picture

Homemade thermite on the rear axle hub will end a BMP's usefulness really quick.  Or maybe a couple of dry-ignition Molotovs tossed at nighttime.  Or a half-dozen other ideas...

Thu, 02/13/2014 - 20:14 | 4434472 Buck Johnson
Buck Johnson's picture

It certainly does and I've always said this also.  It's always good until it's not and when it's not it goes real quick. 

Thu, 02/13/2014 - 16:05 | 4433487 slotmouth
slotmouth's picture

Anyone want to go halvesies on a Kazahstan credit default swap for a month?

Thu, 02/13/2014 - 16:18 | 4433535 Ignatius
Ignatius's picture

Your askin' would I like to get kicked in the nuts?

I'll take a pass.

Thu, 02/13/2014 - 16:24 | 4433574 MeelionDollerBogus
MeelionDollerBogus's picture

halfsies - only one nut. He'll take it in one nut alongside you.

Thu, 02/13/2014 - 16:27 | 4433585 Agent P
Agent P's picture

He said "halvesies", so technically you'd only be getting kicked in one nut...unless you're Lance Armstrong. 

Thu, 02/13/2014 - 16:30 | 4433597 gmrpeabody
gmrpeabody's picture

That's low..., even for fight club.

Thu, 02/13/2014 - 16:35 | 4433635 Skateboarder
Skateboarder's picture

Some of us cheered for him, y'know.

*trying to wash mouth out with soap*

Thu, 02/13/2014 - 16:41 | 4433645 ThroxxOfVron
ThroxxOfVron's picture

NO dogs allowed unless named Kanellos.

Take your 'Boy' and get the fuck out...

Thu, 02/13/2014 - 16:43 | 4433655 ThroxxOfVron
ThroxxOfVron's picture

Does anyone else get the feeling that Geldman Sucks might have taken up trolling for Muppets to stuff in the juice machine right here on ZH...

I know; -let's ask Fonestar if CDS are buyable with Bitcoin on Mt. Gone yet !

Thu, 02/13/2014 - 16:09 | 4433493 layman_please
layman_please's picture

thank god their pensions are safe

Kazakhstan joins growing list of state pension grabs

edit: forgot the /sarc

Thu, 02/13/2014 - 18:25 | 4434084 Ratscam
Ratscam's picture

If i remember correctly Marc Faber suggested buying some Kazakhstan bonds over US Treasuried last year.

Thu, 02/13/2014 - 16:08 | 4433497 squid427
squid427's picture

They have a DHS is in Kazakhstan too?

Thu, 02/13/2014 - 16:26 | 4433575 superflex
superflex's picture

I didn't see one tank in that clip.  APCs, Humvees and trucks.

FYI, tanks have tracks, not wheels.

Thu, 02/13/2014 - 16:47 | 4433660 StackAttack
StackAttack's picture

Those things with big barrels are not APCs.  Stryker vehicles (only wheels, no tracks) can be configured in multiple ways, including as an APC, but those ones with the barrels are set up as tanks.  They don't have tracks because modern wars need to drive on roads much more than they need to go off road.  Make no mistake... one round from one of those will ruin your day as much as light, late model, Russian tank.

Thu, 02/13/2014 - 16:10 | 4433503 thamnosma
thamnosma's picture

There's some serious turmoil percolating through the world right now, all of it related to currency instability and socialist/fascist policy reactions.   Those of us in the USA still live in a protected bubble, for now.

Thu, 02/13/2014 - 16:44 | 4433650 halfawake
halfawake's picture

Yup. I wonder how long until it hits USA, if ever, honestly. They have really bred quite the perfect mix of arrogance, ignorance, and convenience (seeming) here. But we love throwing our missiles around if someone offends us.

Thu, 02/13/2014 - 17:00 | 4433720 WillyGroper
WillyGroper's picture

Protected bubble?

This is the elites excuse to drone the hell out of us. All of us, globally.

Agenda 21.

Tue, 02/18/2014 - 22:04 | 4434189 Pee Wee
Pee Wee's picture


Thu, 02/13/2014 - 16:13 | 4433507 XitSam
XitSam's picture

They aren't going to have any of that Venezuela protest shit in Lower Krapistan!

Thu, 02/13/2014 - 16:15 | 4433514 Black Forest
Black Forest's picture

Uranium shortage ahead?

Thu, 02/13/2014 - 16:23 | 4433580 SubRosa
SubRosa's picture

Maybe. Kazakhstan produces the largest share of uranium from mines (36.5% of world supply from mines in 2012).

Thu, 02/13/2014 - 16:13 | 4433522 Ignatius
Ignatius's picture

I suspect at some point that headlines here in the US will push Kazakhstan lock-down stories off the front page.

Thu, 02/13/2014 - 21:32 | 4434756 PTR
PTR's picture

I've never seen them on the front page. 


How 'bout last night's figure skating, eh?

Thu, 02/13/2014 - 16:17 | 4433523 Yen Cross
Yen Cross's picture

  With all these 3rd world "Banana Republics" flaring up, a Johnny Cash song comes to mind...

  ? Johnny Cash Burning Ring of Fire - YouTube


Thu, 02/13/2014 - 16:14 | 4433524 alangreedspank
alangreedspank's picture

"In my ahh cantry, nationel sports are those of a ping pong, shoot dog, rape and tank roll."

Thu, 02/13/2014 - 16:16 | 4433526 Agent P
Agent P's picture

Where's Borat? 

Thu, 02/13/2014 - 16:22 | 4433562 MeelionDollerBogus
Thu, 02/13/2014 - 17:22 | 4433839 Dr. Kenneth Noi...
Dr. Kenneth Noisewater's picture


Thu, 02/13/2014 - 21:08 | 4434651 dynomutt
dynomutt's picture

I do believe that to be

"Vary Naice"




I wonder how they're going to throw their money down the well...

Thu, 02/13/2014 - 16:15 | 4433530 Callz d Ballz
Callz d Ballz's picture

Can never happen here...





Thu, 02/13/2014 - 16:17 | 4433536 DavrosoftheDaleks
DavrosoftheDaleks's picture

I still am dumfounded on who backs a sovereign CDS.  Has anyone ever been successfully paid out on a CDS for sovereign debt?  What qualifies as a Qualified institution to make a CDS? Also who's to say the CIA doesn't just manipulate the CDS market to fuck with the leaders involved with the country.  As we know it doesn't take much to move that market as compared to the underlying currency or debt.

Lots of questions, I know....

Thu, 02/13/2014 - 16:22 | 4433573 NotApplicable
NotApplicable's picture

I see them as the latest version of "The Emporer's New Clothes." Their only real value?

Book Cooking Accessory (balance sheet filler)

Thu, 02/13/2014 - 16:23 | 4433578 Occident Mortal
Occident Mortal's picture

It's Moral Hazard.

Greece didn't trigger a CDS pay out and they've completely run out of money 4 times in the past 3 years.

Putin will bail out Kazakhstan and Beijing will bail out Putin.

Thu, 02/13/2014 - 16:49 | 4433667 Zero-risk bias
Zero-risk bias's picture

And who bails out Beijing?

Thu, 02/13/2014 - 17:03 | 4433726 Arius
Arius's picture

worse comes to worse,  beijing will be bailed out by the FED. 


all roads lead to rome.

Thu, 02/13/2014 - 18:54 | 4434196 RaceToTheBottom
RaceToTheBottom's picture

This is the time that we should rather wear a lampshade than be the backstop.

Tue, 02/18/2014 - 22:05 | 4434223 Pee Wee
Pee Wee's picture

Earth to free-markets.

Thu, 02/13/2014 - 18:43 | 4434147 forwardho
forwardho's picture

If CDS are a cause of concern, do not look to closely at the FDIC.

If the general public  knew the total lack of funding for this backstop there would be a stampead to get their funds.

Its more like an urban legend than actual insurance.

Thu, 02/13/2014 - 16:18 | 4433537 Smegley Wanxalot
Smegley Wanxalot's picture

Khazakstan needs an aircraft carrier.

Thu, 02/13/2014 - 16:16 | 4433539 rabbitusvomitus
rabbitusvomitus's picture

Ummm, since when did we start selling humvees to the Khazaks?? Just asking

Thu, 02/13/2014 - 16:23 | 4433561 Smegley Wanxalot
Smegley Wanxalot's picture

We didn't.  We abandoned them is some place we bombed, then Al Qaeda siezed and refurbished them and sold them to Khazakstan and used the money to attack us in some other country we will now need to bomb, after which we will abandon more stuff (and so on)....

Thu, 02/13/2014 - 16:30 | 4433611 dogbreath
dogbreath's picture

you're on a roll today

Thu, 02/13/2014 - 16:45 | 4433661 ThroxxOfVron
ThroxxOfVron's picture

Ahhhh!, there ARE high information voters lurking out there!

Thu, 02/13/2014 - 16:50 | 4433673 rabbitusvomitus
rabbitusvomitus's picture

Ahhh, thanks for the clarification Smegley, I was beginning to think the U.S. was supplying arms to other countries. 

Thu, 02/13/2014 - 16:16 | 4433540 thamnosma
thamnosma's picture

Don't "we" rent a large military airbase there for supply operations into Afghanistan?

Thu, 02/13/2014 - 16:29 | 4433602 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

You are correct.  Afganistan is land locked.  Then merica pays (bribes) the Pakis to re-supply merican troops.

Thu, 02/13/2014 - 16:32 | 4433612 Welder
Welder's picture

No. That's Kyrgyzstan. The name of that base is Manas, close to capital city, Bishkek. I think it'll be closed this summer.

Thu, 02/13/2014 - 16:39 | 4433641 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

You are correct, I got my Becky-Stans mixed up like this dolt :

Thu, 02/13/2014 - 16:31 | 4433617 NotApplicable
NotApplicable's picture

I've been trying my hardest to get out of that lease, but to no avail.

Thu, 02/13/2014 - 16:34 | 4433619 thamnosma
thamnosma's picture

Sorry, it's Kyrgyzstan where we have Manas air base until July 2014 when they kick us out.   Evidently "we" are looking into Kazakhstan as the next venue.   Of course, we also use Pakistan, but they've shut that supply route down a couple times over drone attacks and blaming them for housing Osama Bin Laden (the long dead bin Laden).

Thu, 02/13/2014 - 16:20 | 4433552 geno-econ
geno-econ's picture

Unbelievable corruption with the aide of big oil firms and a dictatorship with lifetime Presidency, huge oil revenues and they are in financial trouble ? Tanks are rolling for fear the stupefied people of Kazakhstan may wake up.

Thu, 02/13/2014 - 16:20 | 4433563 thamnosma
thamnosma's picture

Does Nazarbayev keep his cash in the same bank as Karzai?  Where do all these dictator minions stash it?

Thu, 02/13/2014 - 16:31 | 4433605 geno-econ
geno-econ's picture

No doubt a TBTF bank

Thu, 02/13/2014 - 16:49 | 4433668 ThroxxOfVron
ThroxxOfVron's picture

Geldman and The Morgue

Thu, 02/13/2014 - 18:29 | 4434098 Urban Redneck
Urban Redneck's picture

How does a kleptocrat keep their plunderings in cash (even electronic bank cash) when the size of their stash exceeds the domestic money supply?

Karzai is an amateur piker in comparison.

Thu, 02/13/2014 - 16:23 | 4433571 williambanzai7
williambanzai7's picture

Is it just me or does anyone else see a pattern emerging?

Thu, 02/13/2014 - 16:25 | 4433586 Black Forest
Black Forest's picture

You mean this one, don't you?


Thu, 02/13/2014 - 16:32 | 4433615 williambanzai7
williambanzai7's picture

Well this is definitely one facet of it.

Thu, 02/13/2014 - 16:30 | 4433599 NotApplicable
NotApplicable's picture

So... you're saying it's about time for the next Miley controversy, right?

Oooh, lookey here! Mr. Parents Television Council Advisory Board Member made an Achy-Breaky Heart remake, with nearly nekkid twerkers!

I'll be in my bunk...

Thu, 02/13/2014 - 17:38 | 4433909 Hobbleknee
Hobbleknee's picture

I had no idea she was his daughter until now.  Proof you can learn anything and everything from ZH comments.

Thu, 02/13/2014 - 16:52 | 4433676 ThroxxOfVron
ThroxxOfVron's picture

"Is it just me or does anyone else see a pattern emerging?"


-& the pattern looks an awful lot like the tread on the bottom of that boot George Orwell described to ME...

Thu, 02/13/2014 - 16:25 | 4433581 william114085
william114085's picture

"throw the jew down the well, so my country can be free"

Thu, 02/13/2014 - 16:53 | 4433682 ThroxxOfVron
ThroxxOfVron's picture

Not the well, dumbass!

How are we gonna water the horses if the well is poisoned?

Thu, 02/13/2014 - 16:26 | 4433583 pashley1411
pashley1411's picture

Mommy, mommy, why don't we have a parade too!   I want a parade!!!

Thu, 02/13/2014 - 16:50 | 4433672 analyzer_66
analyzer_66's picture

Successful hills are here to stay
Everything must be this way
gentle street where people play
Welcome to the soft parade

Thu, 02/13/2014 - 16:30 | 4433590 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Kazakhstan, an oil producer since 1911, has the second largest oil reserves as well as the second largest oil production among the former Soviet republics after Russia.

Kazakhstan is a major oil producer, and estimated total liquids production was 1.64 million barrels per day (bbl/d) in 2013. The key to its continued growth in liquids production from this level will be the development of its giant Tengiz, Karachaganak, and Kashagan fields. Development of additional export capacity also will be necessary for production growth.


Kazakhstan is land-locked and lies a great distance from international oil markets. The lack of access to a seaport makes the country dependent mainly on pipelines to transport its hydrocarbons to world markets. It is also a transit country for pipeline exports from Turkmenistan and Uzbekistan.


Kazakhstan is a Caspian Sea littoral state. The legal status of the Caspian area remains unresolved, mainly driven by a lack of agreement on whether the Caspian is a sea or a lake. Until all states agree on a definition, legal status of the area will remain unresolved.


After 1991, newly-independent Azerbaijan, Kazakhstan, and Turkmenistan challenged the legal validity of the Caspian treaties under the 1978 Vienna Convention on Succession of States in Respect of Treaties. Because the countries could not agree unanimously on the Caspian's legal status, the coastal countries operate in a mix of unilateral and bilateral actions, based on differing economic and political interests. For example, Russia and Kazakhstan agreed to set maritime boundaries so that both sides could develop oil resources in their respective sectors.

Under UNCLOS, if the Caspian is a legal 'sea', each littoral state receives a territorial sea up to twelve nautical miles, an exclusive economic zone (EEZ) up to nautical 200 miles, and a continental shelf. Since the Caspian at its widest is less than 200 miles, UNCLOS dictates the states apply a median line between claimants. Countries such as Turkmenistan and Azerbaijan would have exclusive access to offshore assets that Iran would not be able to access. If the Caspian is a legal 'lake', international agreements of border states regulate the use of border water. Iran's government has petitioned for equal division by giving each country 20 percent of the sea floor and surface of the Caspian.


Kazakhstan also involved private foreign ownership in the oil sector by selling off the majority of shares of Kazakhstan's state oil company. Initially, the government created a state holding company—KazMunaiGas—to oversee oil enterprises inherited from Soviet production in the Caspian basins until foreign companies could take over. Where Azerbaijan's government strengthened SOCAR, the Kazakhstani government did not convert KazMunaiGas into a full-fledged NOC, but rather it sold off its assets to foreign companies.

In October 2008, Kazakhstan's government reached an agreement with a number of foreign companies to form the new joint operating company North Caspian Operating Company (NCOC) B.V. This consortium includes equal shares to Royal Dutch Shell, Exxon Mobil, TOTAL, ENI, Kazakhstan's KazMunaiGas, with smaller shares going to other partners such as ConocoPhillips and INPEX. NCOC became the operator of assets formerly held by Agip Kazakhstan North Caspian Operating Company NV (Agip KCO), notably the giant Kashagan field. Smaller petroleum companies have stakes in a variety of Kazakhstan's energy assets. While the NOC KazMunaiGas holds minority positions in some of these assets, Kazakhstan has the most privately-owned assets in the Caspian region.


Reserves and exploration

EIA estimates 48 billion barrels of oil and 292 trillion cubic feet of natural gas in proved and probable reserves in the Caspian basins. Almost 75 percent of oil and 67 percent of natural gas reserves are located within 100 miles of the coast.


Sounds like the equivalent of hostile board of directors takeover is going on to wrest certain members off the board of directors if I didn't know any better due to unsettled legal definitions.


Thu, 02/13/2014 - 16:32 | 4433610 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

The largest source of oil production in Kazakhstan is the giant Tengiz oil field, discovered in 1979 off the northeastern shore of the Caspian Sea. A consortium known as TengizChevroil (TCO) operates the field, which produced roughly 500,000 bbl/d in 2011. In 2012, however, LUKOil announced that Tengiz production fell short of this production because of adverse weather, and mechanical and transportation problems.

The greatest potential for oil production growth in Kazakhstan comes from the giant Kashagan field, the biggest oil discovery in the last 35 years. A consortium known as the Agip Kazakhstan North Caspian Operating Company (Agip KCO), led by ENI, operates the field. Discovered in 2000, it is the largest oil field outside the Middle East, with reserves estimates in excess of 13 billion barrels of oil along with significant natural gas deposits.

Thu, 02/13/2014 - 16:36 | 4433627 thamnosma
thamnosma's picture

Well, no wonder they're broke and have to devalue.

Thu, 02/13/2014 - 17:05 | 4433732 disabledvet
disabledvet's picture

Right up there with Venezuela.

"WTF, over?"

Thu, 02/13/2014 - 17:09 | 4433753 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

The recent 20% currency devaluation has nothing to do with suspension of production at the giant Kashagan oilfield, reports, citing the country’s Oil and Gas Minister Uzakbai Karabalin as saying.

“Kashagan couldn’t have any influence on revenues that the Government had been planning to gain from crude sales in 2014”, he said at the President’s Public Communications Service when commenting on widely spread speculations that the currency devaluation was reportedly needed to offset the lost revenues from Kashagan.


He reminded that in line with PSAs, in the first years of production the revenues are primarily harvested by developing companies so that they could recoup their investments. In this context, the share of Kazakhstan’s revenues in 2014 wouldn’t be sufficiently sizeable to have an impact on the national currency.


Commercial production at Kashagan started September 11, 2013. However, it was suspended 2 weeks later due to a gas leakage. The production process was resumed shortly. However, another leakage was detected in October.


Thu, 02/13/2014 - 17:27 | 4433857 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

You also got possible Russian payback for Cyprus going on here to.


As of the end of 2013, according to the official statistics, the deposits kept in tenge amounted to $34.3 billion (6317 billion tenge). On the grim day of the tenge devaluation - February 11, 2014 - they were axed by $6.8 billion (1263 billion tenge).


In 2013, time deposits in tenge reached $11.3 billion (growing 5.5% in 2013) in Kazakhstan and the deposits in foreign currencies (mostly US Dollar) reached $10.7 billion (growing 31% in 2013). The growth difference is immense and it shows a huge mistrust to the national currency in Kazakhstan. Even more so, since it was happening against the background of foreign currencies deposits interest rates being lowered to 4.7-4.5% and those on tenge deposits increased to 8.3-8.1%.

On February 11, 2014, the governor of the National Bank of Kazakhstan Kairat Kelimbetov announced a one step devaluation of tenge away from the previous rate of 155 tenge per dollar to the new weighted average of 185 tenge per dollar. “The National Bank expects that the new exchange rate will be at around 185 tenge per US Dollar,” Kairat Kelimbetov said adding that the central bank will be supporting the nation currency and keeping it within the range of 182-188 tenge.



Thu, 02/13/2014 - 18:00 | 4433985 ThirdWorldDude
ThirdWorldDude's picture
"Kazakhstan, Russia to Enhance Military Cooperation"


According to Shoigu, Russia will supply Kazakhstan with an S-300 anti-aircraft missile system to ensure the country adequate airspace safety. Previously, these missile battalions were deployed in Russia; now, experts of the two countries will work on placing them on operational readiness in Kazakhstan.

Both sides noted the positive trajectory in Kazakh-Russian military relations. In 2013, military-industrial product turnover between the two countries increased to $140 million...

The agreement on establishing a Unified Regional Air Defence System was signed between Kazakhstan and Russia in January 2013. Earlier, Russia reached a similar agreement with Belarus. The establishment of regional air defence zones started in 2007.

Thu, 02/13/2014 - 18:10 | 4434033 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

I agree everything points to Russia being behind this one good supporting piece of information to go along with all this.

Thu, 02/13/2014 - 16:35 | 4433630 geno-econ
geno-econ's picture

DCH seems to know quite a bit regarding oil interests in Kazakhstan. Is Mercator and CIA still involved ?

Thu, 02/13/2014 - 16:46 | 4433663 CitizenPete
CitizenPete's picture

If I am remembering correctly, some recent research I did turned up Kasakhstan as one of the largest sources of Uranium Ore used primaryily for nuclear fuel.  Important, as the stockpile forecast (from various government and private sources) shows near critical global reduction.

If what I just posted is true, then US interests would definately target this particular Stan for this ore.

Thu, 02/13/2014 - 16:58 | 4433689 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Kazakhstan mining companies that have been struggling with the depressed foreign markets have finally had a breath of air. They are among the very few groups in Kazakhstan that are welcoming the nearly 20% devaluation of tenge declared a few days ago. Mining and metallurgical companies are supportive of the tenge 'adjustment', as they call it, because it rhymes with profits for them, Tengrinews reports.


300 companies that are members of the Association export 90% of what they produce. "Their share in the country's export is 13%, and their share in GDP is 11%. Since the share is big, the stability of Kazakhstan's economy largely depends on how well our companies are working," Mukhanov said.


This thing could go many different ways at this point but the usual suspects all have good reasons for a devaluation which is cheap natural resource exports from and control of production of energy resources.

Thu, 02/13/2014 - 17:04 | 4433739 disabledvet
disabledvet's picture

Work with India to "blast a hole for that warm water port" thingy.

Maybe China can help too.
We're all in this together!

Thu, 02/13/2014 - 17:59 | 4433919 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

If anyone wants to read up more on the mineral wealth.

Kazakhstan today is one of the few states on the planet to be provided with substantial deposits of minerals and raw materials. Ninety-nine elements have been recognized in the subsoil of Kazakhstan.


terms of the reserves of uranium, chromium, lead, and zinc the Republic is ranked second in the world; 

-in terms of manganese - third;  

-copper  fifth; 

-in terms of it's reserves of coal, iron, and gold Kazakhstan is one of the leading ten countries of the world;

-in terms of the reserves of gas, oils, and aluminum the country ranks, correspondingly, twelfth, thirteenth, and seventeenth. ... They also have 1/3 of the world's supply of chromium and maganese. You can see why besides the oil and gas everyone would have STRONG interest in Kazakhstan. We shall probably find out over the next few day(s)/week(s) which side is driving this. Cui Bono? My bet the Russians at this point especially since they are rolling in the tanks.
Thu, 02/13/2014 - 16:42 | 4433649 Stupid Donkey
Stupid Donkey's picture

Who is selling the CDS?


Probably the government. If they win, you helped finance their victory. If they lose, you don't get paid.

Thu, 02/13/2014 - 16:47 | 4433659 robertocarlos
robertocarlos's picture

Wow. A side of beef there is now around 1300 dollars and a glass of beer is 20 bucks.

Thu, 02/13/2014 - 17:16 | 4433807 Crisismode
Crisismode's picture



Where are you getting that info? Link, please?


Thu, 02/13/2014 - 21:39 | 4434777 robertocarlos
robertocarlos's picture

Sorry, it was a joke about gold and silver.  

Thu, 02/13/2014 - 16:52 | 4433674 W74
W74's picture

Looks like American M1151's in the video.  Wonder where they got those (Iraq and/or Afghanistan's military on the cheap).....

Thu, 02/13/2014 - 17:21 | 4433840 Dr. Kenneth Noi...
Dr. Kenneth Noisewater's picture

I don't remember a chapter on "keeping the tanks rolling" in my C programming manual.

Thu, 02/13/2014 - 21:12 | 4434661 dynomutt
dynomutt's picture

No, it's Kazakhstan, they use Perl...

Thu, 02/13/2014 - 17:38 | 4433890 noguano
noguano's picture

If you like your humvee you can keep your humvee.

Thu, 02/13/2014 - 18:50 | 4434170 Fix It Again Timmy
Fix It Again Timmy's picture

What difference does it make?....

Thu, 02/13/2014 - 19:35 | 4434321 Son of Captain Nemo
Son of Captain Nemo's picture

Enjoy the Sochi Winter Games folks. Cause I think the fucking nutcases in D.C. are going for broke soon!

To our ladies and gents in uniform. 

You better be "thinking" and "saying" No!

Sat, 02/15/2014 - 10:57 | 4439253 Tzanchan
Tzanchan's picture

Maybe the Hummers were bough at the fire sales we were having to get rid of equipment too expensiv to bring back to the US after "withdrawal" from Iraq and the ongoing drawdown in Afghanistan...and why don't we declare victory and GTFOOD or Afghanistan. No diff between leaving today thhn after pissing away another $50-100 billion or so on the mayor of Kabul, kKrzai, but I digress.....

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