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Russian Ruble Crashes To New Record Lows - Intervention Imminent?
Despite yesterday's big bounce back in the price of oil, this morning's weakness across the crude complex has rekindled selling pressure on the Russian Ruble as it crashes back to yesterday's record lows against the USD.
At around 54 Ruble to the USD, yesterday saw 'alleged' intervention by the Russian Central Bank with a dramatic reversal back to around 50 intraday... it appears the market wants to test the Central Bank's free-float commitment once again.
Yesterday saw notable Treasury selling as the Ruble was rescued/intervened, one wonders if the move higher in yields for 30Y bonds in the last few minutes signal Russian central bank intervention coming soon. [Sell TSY, Rcv USD, sell USD, buy RUB]
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either that, or have 20 aircraft carriers
Russia's debt by comparison has 12 times less public debt to GDP and 3 time less external debt to GDP then the debt of the USA. Just the facts.
who wants to buy russian products... ? garbage !!!! russia only has resources that the world is interested in.... if resource market tanks, so does russia
You think?
question is, what doesn't tank?
EXACTLY!! we all tank !
and china gets our cheep resources lol
poof
Viedoklis, Yahoo is the last place that I would go to find cutting edge news. The real question is how much of this debt is unhedged versus hedged for currency risk. Unless you know these numbers, the article is so much hot air.
First place where you look for news are "Ruskies Today", "Putin yesterday", etc. - I know.
But it's actualy Business Insider:
http://www.businessinsider.com/the-rouble-is-collapsing-at-the-worst-pos...
So I see you do not know how much of the debt is hedged versus unhedged?
Sure, BI is an objective source of information, LOL. BI is people magazine meeting Yahoo finance. In other words, it's a joke.
Did you know that they get paid to place puff pieces favorable to their clients?
So enlighten everyone and then we can all have a rational discussion on the subject.
And you're hardly the one to be talking about writing puff pieces for money.
PS-- you misspelled Putin in your ID.
So enlighten everyone and then we can all have a rational discussion on the subject.
PS-- you misspelled Putin in your ID.
If oil is down and RUB is down it doesnt't mean that RUB is backed by oil, it's just mean than Putin regime economy has poor structure and mainly is based on oil so if anything happens to oil price - economy is not ready for that and RUB looses it's value because - there arent much Russia exports that others needs.
It has undeveloped economy compared to let's say Germany.
any national currency is backed by its exports. for russia it is oil so RUB is backed by oil.
but apparently not enough
Look at Norway, it was poor country until they found oil. But now they also suffer from low oil prices, but not as much as Putin regime. Becauce Norway doesnt have poor economy structure. All boom in Russia was because of high oil prices not because its economy was developing much.
Youcould say that Putin regime economy has poor structure because its based on oil, gas and nothing more. This is its weak spot and that is where it is and will be targeted.
RUB would be backed by oil if you always could change X amount of RUB for Y amount of oil. But this is not the case we see.
We never hear about Ruble/Yen......why not ?
because it is of zero relevance
The reason we are at this point is because Russia has balked at the Central Bankers plan for the NWO. They needed to be brought into line with the west and their slave mentality.
If Russia can pull this off, and I believe they can, then this sends a message to the rest of the worlds economies that they too can resist the Central Bankers and this scares the shit out of them.
So, you'll continue to read stories in the Western Banker Controlled Press about how Russia is suffering. Yes, they are, in terms of western thought, but this is Russia, not Detroit, or Chicago, or Ferguson. These people are not as far from fending for themselves as those in the west have become, they know tough times, they know how to make ends meet, which is a far cry from what Western Society has become.
You know the western way is "where's my entitlement check?"
Who do you think will win this war of attrition? My money is on the other guy.
If you are after masonic NWO plan you should ask your self why Putin regime uses masonic double headed eagle symbol. Google them and compare.
You need to look up the history of the double headed crest because your wrong. I notice your wrong often and will just about say anything against Russia and Putin. You get plenty of down votes for it. The Double-headed eagle has Byzantine and earlier antecedents from long before the emergence of any Russian state. The crest was later ripped off by the Rothschild's and became their family crest, although it has since changed again.
It's Byzantine, you moron.
https://en.wikipedia.org/wiki/Double-headed_eagle
http://www.knightstemplar.org/KnightTemplar/articles/20140727A.gif
Of course masonic symbols are antient - who has ever doubted that?
OMG, I just realised all Christians are masons :O
https://en.wikipedia.org/wiki/File:Cross_Templar.svg
there you are again.
if you're getting paid by the post, you should be getting rich.
maybe even enough to get out of LV.
if you're getting paid by the intelligene of the posts, you'll need to get a loan from v. nuland soon.
i forgot to ask you in our last interchange.
what color do you think the LV revolution will be?
"RIGA, Latvia (AP) — A famous Latvian aviator who joined a Nazi killing squad during World War II is being brought to life in a musical that has outraged Jews in the Baltic country and beyond. "
any comments on this 'Bandera' like character?
You are still proving only one thing - you are a paid troll because you use paid troll tactics in this case:
Ad Hominem https://www.youtube.com/watch?v=FD50OTR3arY
Red Herring https://www.youtube.com/watch?v=exdK7Lirngg.
He gets for daily trolling wage a potato.
In Latvian S.S.R. is rich.
He never leave. Outside of Latvian S.S.R. he is just idiot with potato.
Latvian SSR? Isn't that the terminology used to describe the once and future Republic of Latvia when it was stolen by Soviet Russia in connivance with Adolf Hitler? Are you planning on taking it back?
Ofr couse, if Latvia was still an SSR, a man with a potato would indeed be wealthy. Fortunately, they have escaped that trap.
And, as mentioned above, Latvia seems to be the place to be when it comes to truth in journalism on the Eastern Front.
http://www.theguardian.com/world/2014/oct/23/russian-journalists-meduza-project-latvia-kremlin-crackdown
Pure comedy. Nothing new here.
No potato for you.
Yo Stooge, I enjoy your witty replies but with respect, you are wasting time arguing with the Ukie troll brigade. Since they get paid by reply, I have decided to stop feeding them (at least for today).
Not sure if I know which is more comforting...
That he's on your side.
Or that you think he's smart.
Regardless of the ranking, it's still a win-win.
PS-- I like the way you ordered your fellow Okhrana dude to stfu
viedoklis have little potato. womans not like little potato.
viedoklis are sad.
all alone with little potato.
Looks like Latvia is more of a destination than a line of departure.
http://www.theguardian.com/world/2014/oct/23/russian-journalists-meduza-project-latvia-kremlin-crackdown
Russia = paper tiger
Putin = just another KGB dictator
Great news! Russia projects recession in 2015 :)
"The Russian government has warned the economy will fall into recession next year as Western sanctions, in response to its role in eastern Ukraine, and falling oil prices begin to bite."
http://www.bbc.com/news/business-30288739
So much for the "Russia the great" comments from the putler lovin nutters on here. Gotta love dem Putinozoids on here, most of them keep buying gold all the way down, shorting US stock market, while buying Russian stocks & being bullish on Russian economy. How some of you tinfoil hatters are not homeless is a mystery indeed. Remember that white house short Russia call few months back? Plenty of you made fun of it, guess what? He was right.
The BBC? They are useless in reporting anything Russian.
Anyone here who has eveb half a brain can do math. Do math on prices of products in Russia, inflation and value of their currency mixed in with oil prices. If you guys have trouble, ask me.
Is Reuters better?
http://www.reuters.com/article/2014/12/02/us-russia-economy-recession-id...
It is not BBC reporting their own story, it is RUSSIA projecting, too bad you cant read.
"In the first official forecast of a recession, Deputy EconomyMinister Alexei Vedev said GDP is likely to fall by 0.8 percent next year. The ministry cut its forecast for the average oil price by $20 to $80 per barrel in 2015.
This would be Russia's first recession since 2009, in the aftermath of the 2008 global financial crisis. The economy contracted by 7.9 percent that year.
"We now assume that sanctions will remain in place throughout the whole of 2015," Vedev told reporters. Earlier, the ministry had expected sanctions to be lifted by mid-2015. "This for us means closed capital markets for the majority of Russian companies and banks."
The finance ministry said later that its GDP contraction forecast with oil at $80 is in line with the economy ministry's."
So, what's your point? Putin is at fault for the drop in oil prices? Russia will suffer, along with other major oil producers due to global demand factors. Financial sanctions will hurt, but over time, their impact will lessen since Russia cannot be isolated from the world, contrary to your masturbatory fantasies. They will refinance via Asian, ME and other buyers.
:)
No matter who wins, you are obviously planning on attending the victory celebration.
Latina Lover, keep telling that to yourself :) China will be the knight in a shining armor that will come and rescue Russia without their own goals hehe, sure buddy. Fact is, Russia can not survive with low energy and gas prices, Soviet Union collapsed this way and so will Russia. Russia already got inflation close to 10% this year, wont be long before hyperinflation kicks in. RUB is down huuge this year vs USD 35-40%. China will be there for their own interests, some of which includes part of Russia that they believe are historically theirs such as Yakutia.
PS. Closed capital markets are also hurting them as we can see from this statement made by the Russian minister.
So how long will energy prices stay down? And what does that tell you about the real world economy, including the US with an 18 TRILLION dollar debt? Russia will suffer (something that makes you happy) but it is not the Soviet Union. Russia will survive because they can produce everything they need.
It is just american BS that they took down the USSR via low energy prices.
:)
Contraction of 0.8% against previously expected growth of 1.2% is...contraction...and not recession.
So yeah, both BBC and Reuters are spinning.
Since a recession is defined as two consecutive quarters of contraction and Ivan's mouthpiece is calling for contraction of 0.8% over four quarters, that sure sounds like a prediction of recession to me.
And what sort of clueless cheerleader believes that government predictions from anyplace on the planet are not as rosy as they can possibly be made? This means that 0.8% decline is a wildly optimistic hope scenario, not a worst case prophecy.
They will have a recession for a couple of years when Russian economy is being reäligned with Asia. After that, they will be growing 5%+ annually while the E.U. will still be experiencing no real growth, if any growth at all.
Retail banks on Monday restricted their sales of foreign currencies, with Rosbank limiting transactions to no more than $1,000, Alfa Bank suspending retail currency exchange operations altogether, and Citibank selling foreign currencies only to its customers, the Izvestia daily reported Monday.
http://www.themoscowtimes.com/business/article/prosecutors-probe-russia-...
/Popcorn
ALL Central banks are in lock step with QE so the only thing it effects is citizens and Governments don't give two shits about thier citizens
Elites have assets - Slaves have debt (paper)
Don't bother publishing currency devaluations as it's meaningless to Communist Governments as they decide who works on what and how much the Government will steal from people
These currency stories are meningless in a Communist centrally-planned world economy as the people don't count - what they don't defend psychopaths will take from them - Albert Pike
http://www.youtube.com/watch?v=yuBe93FMiJc
correct !
were all stupid debt slaves
LOL, so amusing to watch the trolls of the bankrupt WEstern villains in action... I think, it's obvious, with the increasing poverty in the US & EU, you really won't expect anybody sane to fight for the villains, much less for the stupid Ukies, so they only get the mercenaries who are immediately outed by their artificial posturings...Compare them to the Zerohedge regulars who are really intelligent professionals in their private lives and are fighting for the Russians as volunteers so we can easily discern the honesty & authenticity of the emotions involved
One thing I noticed, which really made me laugh, was that while they used to utilize trolls allegedly from LIthuania. Latvia, Rumania, etc. complete with fake bad English grammar (obviously to court compassion because they were supposed to be "oppressed" by the Russians) , now these trolls (like our "alleged" Latvian here) are now all writing in perfect English.. writing very long paragraph at that! (LOL). THeir handler probably thought nobody was buying their oppressed antics anyway so they opted to just write in straight English to drive home their curent talking point about the "difficulties" being "suffered" by the Russians because of the Ruble crash (this is a favorite American gimmick- currency rate attack- which really failed to topple Saddam so they eventually attacked militarily, same with Khaddafi, but this currency drama failed to down Hugo Chavez, Cristina Fernandez, Ahmadinajad, etc. which even had less than Russia's cushion of $480 billion reserves and another $50 billion national fund. In a country that is getting out of the dollar & is expected to be dollar-free in two years, the weak Ruble is a lesser problem than the dollar reset which is expected any day now.
Btw, I was folowing the Bulgarian press to watch their reaction on the dropping of the South Stream & as expected, the trolls of the bankrupt WEstern states were in full force. Imagine my surprise, one of them is even here, but amusingly, She (her avatar is a female, at least) is not too open, just providing support to her fellow trolls while pretending to be concerned with the "suffering" of the Russians (giving away her mission order to highlight the "suffering" of the Russians- the thrust of the propagnada around the weak Ruble, the mission order of the day- to project the bankrupt villains still have some power...
Amusing..
BTW, part of the propagnada talking point (which you have read in their posts) is that Russia now only has $50 billion reserve - not a long shot . That $50 billion is only the national fund, the source of the $3 billion lent to Yanukovich.
Russia hasn't touched the $450 billion reserve- in fact, it is the biggest buyer of gold now.
Not to forget, it is still earning dollars with the previous contracts.
This is going to cause a wobble in the Thai tourism economy as well. Lotsa guys and gals partying down there. (or were when it was cheap)
regards