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As Seen In Front Of A Russian Currency Exchange Office

Tyler Durden's picture




 

And bank dealers thought bid/ask spreads on CDS were wide. Perhaps US banks with sliding revenues should just open a few FX kiosks by the Moscow train station and make up for all that lost income from hundreds of billions in FX-rigging legal settlements?

 

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Tue, 12/16/2014 - 10:15 | 5557944 mayhem_korner
mayhem_korner's picture

 

 

So where is the woar going to start?

Tue, 12/16/2014 - 10:18 | 5557960 VATICANT
VATICANT's picture

EMPs - right over the continental US

Tue, 12/16/2014 - 10:21 | 5557973 semperfidelis
semperfidelis's picture

Budapest memorandum, presidential guarantees voided by Russia when they annexed Crimeea. International law is dead, chaos to follow.

Tue, 12/16/2014 - 10:26 | 5558008 SWRichmond
SWRichmond's picture

gold has passed platinum

Tue, 12/16/2014 - 10:29 | 5558035 TheAnalOG
TheAnalOG's picture

Read the sign, it's only "Kacca" they're trading.

Tue, 12/16/2014 - 10:54 | 5558189 Richard Chesler
Richard Chesler's picture

That's Goldman Kacca for you.

Tue, 12/16/2014 - 10:30 | 5558044 Pool Shark
Pool Shark's picture

 

 

Where's Boris Alatovkrap?

I'd love to hear his take on all this...

 

Tue, 12/16/2014 - 10:33 | 5558056 i_call_you_my_base
i_call_you_my_base's picture

I miss that guy. He was one of the funniest people here.

Tue, 12/16/2014 - 10:32 | 5558057 NoDebt
NoDebt's picture

If he's smart, he's drinking some vodka and shacking up with a hottie right now. 

Tue, 12/16/2014 - 10:32 | 5558063 blaireauhedge
blaireauhedge's picture

Surely, you've never really believed Boris was Russian, did you?

Tue, 12/16/2014 - 10:45 | 5558099 Pool Shark
Pool Shark's picture

 

 

Of course I do! I have a cousin from Moscow who knows Boris. His name is Ivan Offallitch.

P.S.: I'm not Surely...

Tue, 12/16/2014 - 12:44 | 5558690 MisterMousePotato
MisterMousePotato's picture

He was funny, but he wasn't Russian. I once saw him use the phrase "too much vodka." A (real) Russian knows there's no such thing.

Tue, 12/16/2014 - 12:50 | 5558728 zuuma
zuuma's picture

Ivan Offallitch

LOL

But that sounds more like a Serbo-Croatian name.

Tue, 12/16/2014 - 10:40 | 5558101 Cow
Cow's picture

Yes.  And stop calling me Surely.

Tue, 12/16/2014 - 10:39 | 5558102 JRobby
JRobby's picture

I thought he was with Shirley?

Tue, 12/16/2014 - 10:21 | 5557974 semperfidelis
semperfidelis's picture

Budapest memorandum, presidential guarantees voided by Russia when they annexed Crimeea. International law is dead, chaos to follow.

Tue, 12/16/2014 - 10:43 | 5558127 cro_maat
cro_maat's picture

NWO Troll.

Tue, 12/16/2014 - 11:06 | 5558265 JRobby
JRobby's picture

Out of work mercenary

No GI Joe w Kung Fu Grip for you!

Tue, 12/16/2014 - 10:49 | 5558158 Gavrikon
Gavrikon's picture

semperetardis

Tue, 12/16/2014 - 11:36 | 5558393 Ventnor
Ventnor's picture

Semper Fidelis,

Russia did not void the Budapest Memorandum and no international law was broken.

For one thing, the Budapest Memorandum is not a treaty.  Paragraph 6: “This Memorandum will become applicable upon signature.”  It entails no ratification or adoption procedures.  It’s a political commitment, not a legal one (though it cites other legal commitments).

Second, paragraphs 1, 2, and 3, commit the parties to Ukraine’s territorial integrity, and pledge not to threaten force or bring economic pressure to bear, in accordance with the Helsinki Final Act and UN Charter – legal obligations obligatory on all states anyway.   It does not create any new legal obligations.  It should be noted that the US and NATO have violated these standards many times – in our illegal war against Serbia, to cite one example among many.

Third, the only thing required of the US, UK, and Russia (see Paragraph 4) is to respond in the event “Ukraine should become the victim of an act of aggression or the object of a threat of aggression in which nuclear weapons are used.”  As it happens, no one is using or threatening to use nuclear weapons against Ukraine. (The phrase “in which nuclear weapons are used” may or may not apply to the preceding “an act of aggression,” and therefore could apply to non-nuclear aggression, but still, whatever role Russia played in Crimea was legally justified as Viktor Yanukovich invited Russia to intervene in Ukraine, which he had every right to do as the country’s legitimate president, even if he have been forced out by an illegal, foreign-backed coup d’etat in Kiev.

Fourth, even if paragraph four is invoked, what action are the parties committed to take?  In the same paragraph, the signatories: “reaffirm their commitment to seek immediate United Nations Security Council action to provide assistance to Ukraine as a non-nuclear-weapons state and parrty to the Treaty on the Non-Proliferation of Nuclear Weapons if Ukraine should become the victim of an act of aggression or the object of a threat of aggression in which nuclear weapons are used”.  The only action required or authorized is to refer the matter to the UN Security Council --- which has been debating the Ukraine crisis since it erupted last fall to no discernable effect.

It should be kept in mind that when the US unilaterally abrogated the ABM treaty it said treaties should be respected only as long as its terms correspond to reality at any given time.  Well, the Budapest Memorandum is 1) not even a treaty, and 2) ceased to reflect reality the moment the West sought the overthrow of the legally elected non-aligned government of V. F. Yanukovich for the purpose of dragooning Ukraine into NATO – a step that had been rejected by Ukraine’s voters in the previous national election (2010) – and, once in NATO, use Ukraine as a club with which to beat Russia.

 

 

 

 

 

 

Tue, 12/16/2014 - 12:02 | 5558485 Bunghole
Bunghole's picture

FU semperjew

Tue, 12/16/2014 - 10:24 | 5557975 GetZeeGold
GetZeeGold's picture

 

 

EMPs - right over the continental US

Second try is a charm.

 

Do we even have the nuclear officer staff to pull it off anymore?

 

Between cheating on tests and fake poker chips......I somewhat doubt it.

Tue, 12/16/2014 - 10:32 | 5558064 linniepar
linniepar's picture

This stastatement is profound and frighteningly true.

Tue, 12/16/2014 - 10:21 | 5557988 will ling
will ling's picture

vlad will rely on the dynamic nuke algos. russians are great at math.

Tue, 12/16/2014 - 10:28 | 5558023 kito
kito's picture

no no tyler has been touting how putin has been hoarding gold, russia will back the ruble with gold any minute now....any minute now.......all will be well with russia.....

Tue, 12/16/2014 - 10:28 | 5558030 kurzdump
kurzdump's picture

"One Second After"?

Tue, 12/16/2014 - 12:01 | 5558474 bigrooster
bigrooster's picture

Awesome book.  Everyone here should go read the introduction on Amazon.

Tue, 12/16/2014 - 10:55 | 5558195 Falconsixone
Falconsixone's picture

But the Navy commercial said "To get to you they have to get though us". except the military was a no show in september....hmm?

Tue, 12/16/2014 - 11:15 | 5558284 Calmyourself
Calmyourself's picture

100 nuclear reactors and many cooling fuel pools in the US, no rational actor uses an EMP it kills them as well.   Albeit slower but  On The Beach applies to an EMP, too destructive.  The real reason for stopping non-rational actors having nukes and lift capability.

Tue, 12/16/2014 - 12:29 | 5558604 TuPhat
TuPhat's picture

All Nuclear power plants are hardened structures.  They would shut down because it is required when the electrical grid is lost.  Without a simultaneous earthquake and sunami along with the emp there would be no adverse effects on the plants themselves.  The US is not Japan our reactors are built to different standards and you should learn something about it before spouting opinions.

Tue, 12/16/2014 - 12:44 | 5558702 Calmyourself
Calmyourself's picture

Hardened structures to EMP, no your wrong, very wrong, the entire electrical grid is vulnerable common knowledge just not to you.  You sir are an idiot preaching to someone who obviously knows more than you..  Those plants lose electricity to pumps and they are fucked.  Do they have an unlimited supply of diesel on site..  Who cares the wiring in the diesels just cooked off.  Workers going to hang out in selfless effort when their homes and families are dark with no water pressure.  You go ahead and give it a good long think  before you post inane responses.

Tue, 12/16/2014 - 12:55 | 5558765 jerry_theking_lawler
jerry_theking_lawler's picture

Yep. Noone fully 'thinks' out this endgame. We saw this with Fuki....electricity cut, diesels down, those babies cook off in a few days. Life on the planet is changed forever. Yep, EMPs are just as bad as MRVs dropped on targets (maybe worse because with the MRVs, some of the material may get consumed in the explosion)....

Tue, 12/16/2014 - 13:11 | 5558834 Calmyourself
Calmyourself's picture

http://www.whiteoutpress.com/articles/2014/q1/23-us-nuclear-plants-use-s...

Frankly it does not matter even if the backup systems get the rods out of the pile they are hot and stay hot for a long time hence cooling pools with recirculated water.  Not reciruculating, the water boils off... All 100 reactors will have selfless crews who will die at their posts, while bucket brigading water into the cooling pools, keep dreaming..

Tue, 12/16/2014 - 13:45 | 5559021 johansen
johansen's picture

no, the end game is when there is no longer any diesel to run the generators to pump cooling water through the reactor.

and don't even think about suggesting unloading the reactor into the spent fuel pool.

1) there probably isn't room. 2) doesn't change the amount of cooling water needed.

Tue, 12/16/2014 - 12:14 | 5558522 fascismlover
fascismlover's picture

long bike futures

Tue, 12/16/2014 - 10:30 | 5557983 Ghordius
Ghordius's picture

the "woar" has started, and is going on since a while. it's just not a conventional war. those need... a possible profit, somewhere, or someone to pick up the bill, after the war

there has never been a conventional war without a profit motive, somewhere. you make "woar" in order to get "moar"

so forget your cultural imprinting, there won't be a conventional war, and the whole thing counts doubly for a nuclear war, where profits are even scarcer

Tue, 12/16/2014 - 10:45 | 5558108 winchester
winchester's picture

you wrong, when financial has finished to decimate reel economy and nobody can pay anything, i strongly suggest to wear your bulletproof jacket and hold the 45 acp when you "try" to get some eatable junk outside of your home.

 

just to say.

 

nuke is vue d'esprit, after foscils ressources on lands, what remain, land, for ? space and...? food.

nuke a land is  not a solution to the problem being the humans on it.

 

starvation & self destruction is the appropriate path. expect it within 20 years.

Tue, 12/16/2014 - 10:47 | 5558154 Ghordius
Ghordius's picture

I'm talking about conventional wars. I think you are talking about civil wars (and please everyone spare me the "civil/uncivil" quips. It's called a civil war because it involves civilians. Which a conventional, civilized war is supposed to spare)

Tue, 12/16/2014 - 11:05 | 5558250 Citium
Citium's picture

Don't tell the draft about that citizens part...

 

He gets touchy.

Tue, 12/16/2014 - 10:43 | 5558124 schatzi
schatzi's picture

I'm actually shocked how smoothly and effective that attack on Russia's economy is progressing. It's frightning to witness a major currency being destroyed like that. No Putin fan at all, but this will have severe repercussions on the ordinary people while Obama and Wall Street mimic the innocent. Always considered Putin's move into Crimea a violation of international law, but this is a direct economic attack on Russia and in my opinion it has gone way too far and is a further uneccessary escalation on US' part. It irks me too how a country with a much more ill disciplined household can school a country like Russia in regards to currency. This is much more a demonstration of might than any cruise missile can achieve.

On a personal investment note, I might have a look at some Russian stocks. Gazprom looks appetizing, but those ADRs, 1998 redux and the possibility of further nationalisation, makes any current investment extremely risky.

Tue, 12/16/2014 - 10:46 | 5558140 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

http://www.strategicstudiesinstitute.army.mil/pubs/summary.cfm?q=905

History may not repeat, but it appears to rhyme.

 

Tue, 12/16/2014 - 10:58 | 5558197 Ghordius
Ghordius's picture

excellent comment, mein schatzi (only a pun, could not resist)

"this is a direct economic attack on Russia" fingerprints? culprits? the basis is the oil price war, so Saudi. but that's not directly related

the main actors of this battle are both FX trading desks and speculators. Both foreign speculators and Russian speculators, among them both oligarchs not wanting to lose too much and what recently some journalists called "that bloated Russian upper-middle class", with the same motive

a market is a market. The CBR wanted to float the Ruble, and the monsters lurking below the surface of that immense ocean that is the USD-based FX market are dragging it down. You can see the tentacles, pardon me, the motives, but at the end "everyone is betting for himself"

Tue, 12/16/2014 - 11:23 | 5558334 schatzi
schatzi's picture

Yeah, "direct" is the wrong term. The oil price is the major driver - as you say, and can be seen from the very close correlation between Rubel/$ and oil/$. and we all know there are other factors also working on the oil price currently. Your post describes it best.

Tue, 12/16/2014 - 10:56 | 5558207 cro_maat
cro_maat's picture

Don't cry for Vlad. He saw this coming and tested his SWIFT replacement on Monday. They will soon be settling all transactions through this new system. They will be direct transactions with counterparties and not through the "Reserve / Petro" dollar of the USSA. The $/Ruble pricing only matters if you need this as a trade currency. Soon Russia will not need the $. Most of the deals they have done lately are direct currency exchanges with Eastern trading partners. This direct cash flow and trade will continue. As it gets colder this winter, Europe may have to source their natgas in Rubles as well. The USSA is keeping score on a game that Russia withdrew from a while ago. Sanctions only work when a country has nowhere else to source the prohibited items. Russia is not isolated and they will survive if not thrive.

Tue, 12/16/2014 - 11:53 | 5558447 toady
toady's picture

This is the scariest meme. Will U.S./market overreach kill the petrodollar?

The U.S. MUST make sure this SWIFT replacement fails!

Tue, 12/16/2014 - 13:00 | 5558780 BigJim
BigJim's picture

Yes, the whole 'buy when there's blood in the streets' advice is starting to come to mind. Too bad I'd need to liquidate some of my stack to do so.

Tue, 12/16/2014 - 10:38 | 5558093 JRobby
JRobby's picture

Typical of the oligachs.

Incinerate the sheeple. We don't want to run out of food.

Will Putin bite? Or will there be a false flag and the warheads fly?

Tue, 12/16/2014 - 11:28 | 5558359 TheReplacement
TheReplacement's picture

If you are gonna start a nuclear war and annihilate humanity then you don't need false flags or any sort of pretense.

If you're going to shoot, shoot.  Don't talk.

Tue, 12/16/2014 - 11:31 | 5558375 kchrisc
kchrisc's picture

December 23, 1913.

An American, not US subject

Tue, 12/16/2014 - 10:15 | 5557946 ZippyBananaPants
ZippyBananaPants's picture

Looks like a donut shop, mmmmm do-nuts!

Tue, 12/16/2014 - 10:17 | 5557949 sudzee
sudzee's picture

Thats the rate in euros.

Tue, 12/16/2014 - 10:20 | 5557978 SethDealer
SethDealer's picture

she used to be tight

Tue, 12/16/2014 - 10:26 | 5558010 Pool Shark
Pool Shark's picture

 

 

Better not go over 99.99 Rubles to the Euro; they've run out of digits on that sign...

 

Tue, 12/16/2014 - 10:19 | 5557971 yogibear
yogibear's picture

Looks like Japan at some point will have it's currency crisis as well.

Tue, 12/16/2014 - 10:21 | 5557986 mayhem_korner
mayhem_korner's picture

 

 

At some point, all fiat printers will have a currency crisis.  All will cower to real money (which I seemed to have lost in a boating accident).

Tue, 12/16/2014 - 10:29 | 5558036 Ghordius
Ghordius's picture

history tells us that fiat printers always have a currency crisis, eventually. but not at the same time

watch how the Dollar is sucking the Ruble dry, and get's stronger by that

Tue, 12/16/2014 - 10:20 | 5557980 LawsofPhysics
LawsofPhysics's picture

Speaking of spreads, what is the real number for the unfunded liabilities of the U.S.S.A. now?  How does that compare with total tax "revenues"?

LOL!

Tue, 12/16/2014 - 10:25 | 5558011 mayhem_korner
mayhem_korner's picture

 

 

usdebtclock.org says $115 trillion - and growing about $250M an hour.  Just a drop in the bucket...don't get all huffy on us.

Tue, 12/16/2014 - 11:23 | 5558329 exi1ed0ne
exi1ed0ne's picture

Don't forget to add the 303 Tril of exposure our honorable* US leadership just yolked us with.

*as in dirty rotten traitor swine that deserve to rot in hell

Tue, 12/16/2014 - 10:21 | 5557984 blaireauhedge
blaireauhedge's picture

Nabiullina is being set up. There have tons of voices, popular voices, questioning her loyalty recently.

Putin has consistently said the government had no influence whatsoever on the Russian Central Bank, repeatedly saying they are fully independent.

Every move made by the central bank has been carefully tied to Nabiullina in the Russian media.

Today she even had to get on TV to explain HER moves to the Russian public.

Following this appearance, the Kremlin reiterated that the Russia Central Bank acts independently.

Tue, 12/16/2014 - 10:28 | 5558037 NoWayJose
NoWayJose's picture

Excellent post!

Tue, 12/16/2014 - 10:34 | 5558065 Ghordius
Ghordius's picture

and so she is an expendable pawn. as the whole concept of a independent CB in Russia. in balance, subject to victory or failure

Tue, 12/16/2014 - 10:41 | 5558104 blaireauhedge
blaireauhedge's picture

Exactly. And since the RCB clearly is Russia's achilles heel (since it is pretty much beholden to the U.S. FED and the IMF), this would be a great opportunity for a crackdown.

Remember Putin in his last speech said they knew who the speculators were... at that moment the camera zoomed in on Nabiullina sitting in the audience.

Tue, 12/16/2014 - 11:18 | 5558301 Debugas
Debugas's picture

if she gets sacked by Putin and Glaziev is installed... then things gonna change really fast

Tue, 12/16/2014 - 12:01 | 5558465 Bankster Kibble
Bankster Kibble's picture

I thought she learned the ropes from Kudrin, and wasn't he the financial golden boy until he dissed Medvedev?  She seemed somewhat decent, I thought.  Anybody have more links about her?

(thanks IR for the wiki link.  I wonder about her philosophy, too.)

Tue, 12/16/2014 - 10:21 | 5557985 Lmo Mutton
Lmo Mutton's picture

I like turtles.

Tue, 12/16/2014 - 10:25 | 5558001 CrimsonAvenger
CrimsonAvenger's picture

I thought Mitch McConnell's staffers were banned from commenting here?

Tue, 12/16/2014 - 10:30 | 5558034 GetZeeGold
GetZeeGold's picture

 

 

Word is he and Nancy Pelosi share the same staff.

Tue, 12/16/2014 - 11:06 | 5558258 813kml
813kml's picture

I believe this is the staff you are referring to.

Tue, 12/16/2014 - 12:03 | 5558484 eyesofpelosi
eyesofpelosi's picture

I let mitch fondle my chicken neck, but he can't use my staff!

Tue, 12/16/2014 - 10:23 | 5557987 Amerikan Patriot
Amerikan Patriot's picture
Ruble in Free Fall After Rate Hike Fails to Stem sSlide By and

 

LONDON (MarketWatch) — The ruble continued its rout on Tuesday, after the Russian central bank’s surprise interest-rate rise to 17% failed to halt the steep slide in the currency.

The ruble initially rallied after the rate-hike announcement early Tuesday. However, as worries grew that the increase wouldn’t be enough to end the pressure, the Russian currency fell back to trade around an all-time low against the dollar. In midday European trade, the dollar bought 76.13 rubles, compared with 65.60 late on Monday. The pair traded as low as 60.11 earlier in the day, according to FactSet data.

“It’s a currency crisis as of this morning,” said Simon Smith, chief economist at FxPro. “If [the central bank] had done this last week when they raised rates by a 100 basis points they could have instilled some confidence, but the feeling now is that they are chasing events rather than leading events.”

“It’s a perfect storm scenario,” he added, referring to the impact from Western-imposed sanctions, the slide in oil prices and the fact that the economy is still highly dependent on oil revenue. “Without the oil-price fall, we’d probably still be trading around 45-50 rubles to the dollar.”

Oil prices continued to fall on Tuesday, with Brent LCOF5, -2.85%  dropping below $60 a barrel for the first time in more than five years and crude oil CLF5, -2.40%  declining to $54.21 a barrel.

Bank of Russia Chairwoman Elvira Nabiullina said the ruble is currently undervalued and the rate-hike decision has increased the risk of bets against the currency, speaking in a televised statement on Tuesday.

Elsewhere, the yen strengthened against its rivals, as unease over Russia and the tumbling oil prices steered investors into safe havens. The dollar USDJPY, -1.44%  was at ¥115.76, from ¥117.73 late Monday in New York. The euro EURJPY, -0.78%  also fell to ¥145.23, from ¥146.34.

While sharply lower oil prices are good news for net energy importers such as Japan, some economies that are heavily reliant on oil revenues, among them Russia, are less than happy about the declines.

The nervousness hitting oil-dependent economies was also seen for the Norwegian krone USDNOK, +1.05% which slid around 5% against the dollar. The greenback bought 7.86 kroner, compared with 7.48 on Monday.

The WSJ Dollar Index BUXX, -0.38% a measure of the dollar against a basket of major currencies, was down 0.40% at 81.81, as the Federal Open Market Committee prepared to kick off its two-day policy meeting.

Tue, 12/16/2014 - 10:33 | 5558054 SickDollar
SickDollar's picture

WARNING Amerikan Patriot is a TRoLLER/paid SHill  (check his history)

CAN SOMEONE PLEASE ban him

 thank you

Tue, 12/16/2014 - 10:35 | 5558077 stewie
stewie's picture

The down votes are a kind of "Virtual Ban"...

Tue, 12/16/2014 - 10:47 | 5558149 headhunt
headhunt's picture

Yes - 'we communists only want to read/hear good things - never mind reality.'

Tue, 12/16/2014 - 11:28 | 5558362 TheReplacement
TheReplacement's picture

Listen SickDollar,

Can we trade him in and get goatrider or bangalore back?  At least those two had some entertainment value at times.

Bitcoin bitchez!

 

/sarc

Tue, 12/16/2014 - 11:56 | 5558463 eyesofpelosi
eyesofpelosi's picture

I agree. Amerikan is a fascist troll. Think I read its bs on Yahoo too.

Tue, 12/16/2014 - 11:57 | 5558464 eyesofpelosi
eyesofpelosi's picture

I agree. Amerikan is a fascist troll. Think I read its bs on Yahoo too.

Tue, 12/16/2014 - 10:22 | 5557991 Amerikan Patriot
Amerikan Patriot's picture

Who's manning Vlad's suicide watch tonight?

Tue, 12/16/2014 - 10:30 | 5558039 Pol Pot
Pol Pot's picture

Who's manning your backend..... Pol Pots rectal rehydration is coming your way......bamboo style

Tue, 12/16/2014 - 10:32 | 5558062 SickDollar
SickDollar's picture

WARNING Amerikan Patriot is a TRoLLER/paid SHill  (check his history)

CAN SOMEONE PLEASE ban him

 thank you

Tue, 12/16/2014 - 20:24 | 5560460 layman_please
layman_please's picture

i have stopped reading his posts after i made that mistake twice but i don't need anybody making decisions for me what i should or shouldn't read. especially coming from a person begging authorities (tylers in this case) for censorship. fuck off.

 

Tue, 12/16/2014 - 10:48 | 5558134 OceanX
OceanX's picture

IMO, Putin lives in a world of abundance.  Russia has a small population, huge energy reserves and lots and lots and lots of land, spans 9 time zones.

Also, he has the popular support of his citizens. Oh yeah, low debt.

Consequently, his world view is quite different from one,  that has to satisfy a lot of greedy shareholders/lenders...

I think he just has to wait and watch the west fall under its own weight of greed, corruption and debt.

 

Ever read, Aleksandr Solzhenitsyn?  This is a cake walk or them.  "Your not a good Russian, unless you've done a tenner..."

 

Tue, 12/16/2014 - 10:50 | 5558166 OceanX
OceanX's picture

Yes, he is investing in REAL infra-stucture and forming REAL, mutually benificial relationships with trading partners, z.b.  China, India, Turkey...

Tue, 12/16/2014 - 10:45 | 5558138 kito
kito's picture

amerikan patriot, havent you been following zh and those pics of vlad and the gold bars? shirley vlad has enough to back the ruble instead of allowing his currency to get pummeled...after all what idiot would SELL gold to prop up paper.......any day now....any day

 

http://www.kitco.com/news/2014-12-12/Is-Russia-Selling-Its-Gold-Reserves...

Tue, 12/16/2014 - 10:22 | 5557993 Dr. Engali
Dr. Engali's picture

Powerball sign.

Tue, 12/16/2014 - 10:26 | 5558019 NoWayJose
NoWayJose's picture

What the Western bankers have done is 'introduce' Vlad to the warfare in the paper markets.  He is seeing that even a 6.5% rate increase can be rendered temporarily meaningless.  I fear that he will do what Russians have always done -- learn from the attacker -- then respond a hundred-fold back to destroy the attacker.  We may have introduced Russia to the effectiveness of paper market warfare at a time that the US markets are perched high upon a very unstable base.

Tue, 12/16/2014 - 10:44 | 5558136 headhunt
headhunt's picture

To attack you have to have and effective weapon.

Russia does not have the economic might to attack anyone.

You may not like it but it is fact.

 

Tue, 12/16/2014 - 12:14 | 5558531 corsair
corsair's picture

Pulling the enemy in before smashig them down seems to be Russian favorite tactics.

They are also renown for self-sacifice and patience.

I'm sure the Nazis felt really confident in 1942.

Tue, 12/16/2014 - 11:13 | 5558287 cornflakesdisease
cornflakesdisease's picture

Is that like firing your torpedos in your sub with the torpedo doors are closed?

Or when a natural gas pipeline has a sudden dip in pressure due to a leak, turning the gas up even higher causing a huge explosion killing 200 + people?

Or banning children's books like "My Book of Bible Stories" as subversive?

Tue, 12/16/2014 - 11:33 | 5558383 Rock On Roger
Rock On Roger's picture

You can't "turn up the gas up even higher". Gas pipelines don't work that way.

So you written three things that are bullshit.

My Book of Bible Stories is classic brainwash material and the Kursk had a torpedo sized entry hole in its forward section.

 

Drink Kool-aid much?

Tue, 12/16/2014 - 15:45 | 5559609 Idaho potato head
Idaho potato head's picture

10 bowls of GMO cornflakes with 12tablespoons of suger is more effective than koolaid...

Tue, 12/16/2014 - 11:53 | 5558445 Bankster Kibble
Bankster Kibble's picture

Not sure this latest salvo is an introduction.  We manipulated markets in the 1980s against the Soviets and again in 2008 as "punishment" when Russia trounced Georgia that August.  As long as we can add infinite zeroes to our bank statements, we will manipulate the markets against any whippersnapper who thinks he can stand up for himself.  Russia should be used to this by now.

Tue, 12/16/2014 - 10:29 | 5558028 Son of Captain Nemo
Son of Captain Nemo's picture

F-U-C-K-I-N-G "A"!!!!!

Middle Digit to Uncle "Shlomo" in Washington, London, Tel Aviv and Riyadh!

Tue, 12/16/2014 - 10:29 | 5558029 Tjeff1
Tjeff1's picture

Well that spread would be expected when your currency trades +7% and -7% within a few hours.

Tue, 12/16/2014 - 10:36 | 5558078 Panic Mode
Panic Mode's picture

The Russian New Year count down

Tue, 12/16/2014 - 10:37 | 5558089 will ling
will ling's picture

german MP critic of russia - DEAD.

Tue, 12/16/2014 - 10:43 | 5558114 marriedgeordie
marriedgeordie's picture

Thou shalt not covet thy neighbour's land! Enough said.

Tue, 12/16/2014 - 10:44 | 5558125 SickDollar
SickDollar's picture

off topic:

Leaked Emails Show Chinese Regime Employs 500,000 Internet Trolls

http://www.theepochtimes.com/n3/1142634-leaked-emails-show-chinese-regim...

Tue, 12/16/2014 - 11:01 | 5558231 Falconsixone
Falconsixone's picture

Just in America?

Tue, 12/16/2014 - 12:25 | 5558579 Oldrepublic
Oldrepublic's picture

thanks for posting that link, seems that those trolls get 50 cents/or one half of one Yuan per post.

called the fifty cent army

Tue, 12/16/2014 - 10:44 | 5558126 Cthonic
Cthonic's picture

OT:some essays that may have gone unnoticed

 

a read for financial historians

http://www.paulcraigroberts.org/2014/12/15/change-stymied-paul-craig-rob...

on the abuse of deposit insurance and taxpayer backing

http://davidstockmanscontracorner.com/memo-to-citigroup-ceo-micheal-corb...

Tue, 12/16/2014 - 12:32 | 5558615 Oldrepublic
Oldrepublic's picture

re: PCR article:

The United States has devolved to the point where truth has becomed an enemy of the state and of the forces that control the state. Those who lie for the state and the interest groups that control the state are rewarded. Those who tell the truth are punished.

Tue, 12/16/2014 - 11:14 | 5558290 Quinvarius
Quinvarius's picture

One country at a time, we re-learn about gold.

Tue, 12/16/2014 - 12:49 | 5558719 gcjohns1971
gcjohns1971's picture

If Russia has enough Gold for a Gold Standard, how would that fail to halt the Ruble's fall?

Ruble is falling because (in order of impact):

1) Oil is down + Forex manipulation.

2) Russian Politics (seizures, and threats of capital seizure)  triggered non-Ruble capital flight.

3) Sanctions.

 

I arrived at the heirarchy of effect by charting the Ruble's value over time against the implementation of each condition...

 

If Russia had the gold to halt Ruble's fall, why wouldn't they announce it?

If Russia had the gold to implement a gold-backed Ruble, why wouldn't they announce it?

Tue, 12/16/2014 - 13:30 | 5558931 bid the soldier...
bid the soldiers shoot's picture

 

It appears you forgot the main reason the ruble is falling:  the concerted effort by Western Banks, including Central banks, to punish Russia and depreciate its currency.

A gold backed currency, whether dollar or ruble. does not exist unless that currency is redeemable for gold.  

If you have devised a gold backed currency scheme that does not involve 'redemption for gold', I'd love hear it.  Really. 

Tue, 12/16/2014 - 13:44 | 5559011 Heroic Couplet
Heroic Couplet's picture

LOL at "kacca."

Tue, 12/16/2014 - 14:51 | 5559360 Bunga Bunga
Bunga Bunga's picture

Looks like 99.99 is the bottom due to technical limitations ;)

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