Russian Ruble Crashes Most In 3 Years

Tyler Durden's picture




 

The Ruble was already losing ground on the back of US Sanctions but those losses accelerated markedly after the Malaysia Airliness jet crash news. This is the biggest drop in the Ruble since August 2011...

 

 

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Thu, 07/17/2014 - 12:29 | 4968222 maskone909
maskone909's picture

so are the sanctions begginning to work in usa's favor?

Thu, 07/17/2014 - 12:30 | 4968227 Thought Processor
Thought Processor's picture

 

 

Ruble under attack.

Thu, 07/17/2014 - 12:32 | 4968243 WayBehind
WayBehind's picture

Cheap Ruble is good for Russian economy ... Putin should send a thank you letter to Obama :)

Thu, 07/17/2014 - 13:34 | 4968746 SAT 800
SAT 800's picture

Obviously; it means they get more rubles for every Euro they take in for gas and oil. Putin is laughing all the way to the Bank. Meanwhile our boy is playing golf and planning the next escalation in the alien invasion from Central America just to guarantee nobody ever gets a decent paying job.

Thu, 07/17/2014 - 13:56 | 4968931 COSMOS
COSMOS's picture

YAWN  the dollar has fallen more since Helicopter Ben...

Fri, 07/18/2014 - 02:37 | 4972221 0z
0z's picture

To clarify: Cheap rubble is good for those who are short rubbles, and bad for those who are long rubbles.

Thu, 07/17/2014 - 14:11 | 4969008 COSMOS
COSMOS's picture

...and printing still (double post LOL sorry)

Thu, 07/17/2014 - 13:50 | 4968890 Harbanger
Harbanger's picture

It also means they have to pay more rubles for an ounce of money.  There's no safe fiat, if the dollar is not the last one to go, when it does go, it would implode all the other currencies because of all the global derivatives.

Thu, 07/17/2014 - 13:52 | 4968906 SAT 800
SAT 800's picture

they mine it; big time; and keep it.

Thu, 07/17/2014 - 14:00 | 4968949 HastaLaVictoria...
HastaLaVictoriaSiempre's picture

Go tell the average non-oligarch Russian who is already barely making ends meet.

Looks like Putin's bill for invading Crimea is coming due, in the form of a "political price" to pay. He is starting with good approval ratings, curious to see how long that will last when the living standards go back to Soviet grade.

Thu, 07/17/2014 - 14:11 | 4969022 demoses
demoses's picture

"average non-oligarch Russian who is already barely making ends meet"

Hmmmm... have you ever been to Russia? On what basis do you say that?

Thu, 07/17/2014 - 12:31 | 4968233 JohninMK
JohninMK's picture

Looks like it.

Thu, 07/17/2014 - 12:48 | 4968398 Duffminster
Duffminster's picture

When is Zero Hedge going to followup in detailed report on this story from Seeking Alpha????

"Big Banks Hit With Monster $250 Billion Lawsuit In Housing Crisis"  http://seekingalpha.com/article/2318525-big-banks-hit-with-monster-250-b...

"...
Investors led by BlackRock (NYSE:BLK), the world’s largest asset manager, and PIMCO, the world’s largest bond-fund manager, have sued some of the world’s largest banks for breach of fiduciary duty as trustees of their investment funds. The investors are seeking damages for losses surpassing $250 billion. That is the equivalent of one million homeowners with $250,000 in damages suing at one time. 

The defendants are the so-called trust banks that oversee payments and enforce terms on more than $2 trillion in residential mortgage securities. They include units of Deutsche Bank AG (NYSE:DB), U.S. Bank (NYSE:USB), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), HSBC Holdings PLC (NYSE:HSBC), and Bank of New York Mellon Corp (NYSE:BK). Six nearly identical complaints charge the trust banks with breach of their duty to force lenders and sponsors of the mortgage-backed securities to repurchase defective loans...."

"...Beyond the legal issues are the implications for the solvency of the banking system itself. Can even the largest banks withstand a $250 billion iceberg? The sum is more than 40 times the $6 billion “London Whale” that shook JPMorgan Chase (NYSE:JPM) to its foundations...."

 

 

Thu, 07/17/2014 - 13:21 | 4968672 SheepDog-One
SheepDog-One's picture

Big deal, ObaMao's Dept of Just-Us will step in to save the banks and fine those pests who dared try to sue.

Thu, 07/17/2014 - 13:58 | 4968926 buzzsaw99
buzzsaw99's picture

so blackrock and pimco are going to argue in court that they were ignorant fools who were tricked by the big bad banks? in effect, the smartest guys on the planet are going to plead stupidity? it is investors who should be suing gross et al for willful negligence.

Thu, 07/17/2014 - 12:30 | 4968228 max2205
max2205's picture

it's all in the plan...next, oil

Thu, 07/17/2014 - 12:33 | 4968252 BobTheSlob
BobTheSlob's picture

Chaos for fun and profit.

Thu, 07/17/2014 - 12:30 | 4968231 carbonmutant
carbonmutant's picture

Gold loves whoever shot that Buk missle...

Thu, 07/17/2014 - 12:46 | 4968363 what's that smell
what's that smell's picture

please forget the US instigated overthrow of an elected government....

ignore the sanctions and the economic warfare being waged against russia....

pretend the NATO/US stooges waging a hot war against russian speaking peoples is a "russian aggression"....

....and just go batshit when you look at those bodies lying on the ground!!!!!!

stupid sheep get what stupid sheep deserve....the butcher

unkle sam wants you, bitchez.

Thu, 07/17/2014 - 12:30 | 4968232 carbonmutant
carbonmutant's picture

dup.

Thu, 07/17/2014 - 12:31 | 4968236 NoWayJose
NoWayJose's picture

Almost like it was a coincidence that someone is trying to take down the ruble - with the sanctions that were announced just before the plane went down... 

Thu, 07/17/2014 - 12:33 | 4968250 Winston Churchill
Winston Churchill's picture

"There are no coincidences in politics". FDR

Thu, 07/17/2014 - 14:16 | 4969066 demoses
demoses's picture

The market has already decided that this crash will hurt Russia. On what basis? Am I the only one not connecting the dots here?

Oh no... Obama sneezed! S&P500 down 500....

Thu, 07/17/2014 - 12:33 | 4968248 youngman
youngman's picture

This will be good for all those Russian exports....whatever they are...they used to make a nice tank....or was that a car...Vodka..yes vodka...they can sell more of that

Thu, 07/17/2014 - 12:34 | 4968265 Itchy and Scratchy
Itchy and Scratchy's picture

The wonderful news continues to roll in for the lovely U.S. Sec of State Victoria (F.U.) Nuland (nee: Nudelman) Kagan!

Thu, 07/17/2014 - 12:38 | 4968292 yogibear
yogibear's picture

Victoria (F.U.) Nuland.

What a witch!

Thu, 07/17/2014 - 12:36 | 4968282 yogibear
yogibear's picture

Putin needs to return the favor. If Putin kills expectations on Wall Street he kills the US economy.

Kill the US dollar or it's prospects and he starts winning. The Petro-dollar is huge.

Thu, 07/17/2014 - 12:39 | 4968313 OneTinTrooper
OneTinTrooper's picture

Testing 123 Testing 123

 

New user here.  This is just a test and only test.  If there is a real emergency more information will be available through this channel.

Thu, 07/17/2014 - 12:49 | 4968394 syntaxterror
syntaxterror's picture

BEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEP.

That concludes this test.

Thu, 07/17/2014 - 13:36 | 4968755 Slave
Slave's picture

Don't forget to upvote yourself.

Thu, 07/17/2014 - 12:40 | 4968324 Duffy Duck
Duffy Duck's picture

Keep an eye on it after lunch [like 2 pm est].

Thu, 07/17/2014 - 12:46 | 4968369 moonman
moonman's picture

Obama said there would be repercussions 

Thu, 07/17/2014 - 12:47 | 4968376 syntaxterror
syntaxterror's picture

Glad to see there's at least one Fiat the USD hasn't crashed against.

Thu, 07/17/2014 - 12:53 | 4968438 realWhiteNight123129
realWhiteNight123129's picture

This is momentum driven, but RUBLE is a much better currency than USD. Gov debt to GDP 11%. Corporate debt to GHDP 45%. Large foreign currency reserves. Large commodity exporter. Trade surplus. Buy the currency, it is a good opportunity.

Thu, 07/17/2014 - 13:37 | 4968497 Itchy and Scratchy
Itchy and Scratchy's picture

8% top personal tax rates; 11% top corporate tax rates; no capital gains or death taxes; debt to GDP 4%!

Very scarey communists!

Thu, 07/17/2014 - 13:08 | 4968561 NoWayJose
NoWayJose's picture

Did the Ruble 'crash' or was it 'shot down'?

Thu, 07/17/2014 - 13:14 | 4968612 Fuh Querada
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Thu, 07/17/2014 - 13:15 | 4968621 Fuh Querada
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Thu, 07/17/2014 - 13:40 | 4968794 bbq on whitehou...
bbq on whitehouse lawn's picture

People like you are the reason the NSA has so much information in real time.
Uninstall your brower and then re-install it.
That will fix more then you know.

Thu, 07/17/2014 - 13:21 | 4968661 Peak Finance
Peak Finance's picture

Hmmm, I don't trade much but I am going LONG crisis actors today.

What would be a good symbol?  DIS maybe? 

Thu, 07/17/2014 - 13:42 | 4968819 Billy Shears
Billy Shears's picture

Why not back it with gold or accept only gold for oil and gas.

Thu, 07/17/2014 - 14:43 | 4969245 potato
potato's picture

The Russian economy is as fvcked as the US economy. Thievery knows no national boundaries.

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