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"The USDRUB Pair Will Be Discontinued Due To Recent Instability Of The Russian Ruble"
Dear Russian Ruble traders, please find a different sandbox, because "evil speculators" will no longer be tolerated, first at Forex Capital Markets and soon, everywhere else.
And now, unless the selloff in US equity futures is immediately halted, expect the first self-help headline in US markets to strike - as usual - within hours.
* * *
Update: And now FxPro:
@zerohedge Incoming mail pic.twitter.com/WJERtGh5IB
— raymond kipngetich (@Raymondfx) December 16, 2014
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Oh No. What will the fx pros do?
http://hedgeaccordingly.com/2014/12/cibc-world-markets-canadian-banks-co...
Buy gold?
If you don't know what to do with it....just throw it in the sock drawer like I do.
Putin will check mate Obama soon enough.... Watch what he does... And what he says.
Global leaders acting like fucking children. Just because Putin won't let someone topple assad so someone else can build a pipeline through Syria we have to go through all this childish shit. Fucking embarrased to be a human alongside these cunts
So true mate!
Looks like a VERY GOOD TIME for Russia to announce a Gold Standard.
Checkmate.
But then they would need to halt trading in the US Dollar. hehe
China please feel free to join us. We will even do REAL Audits of our Gold & Silver.
Discontinued? As in forever?
Never say never.
After the emergency meeting by the Russian Central Bank today it could be the Dollar that is discontinued by this afternoon.
Wouldn't want to allow "trading" in "unstable" markets!
Oh, the MF Irony is so thick!
Abssolute proof the financial system was designed as an absolute means of control and punishment. Disgusting.
When does world stop USD trading because instability?
The Truth:
doesn't matter much what they claim for the ruble here...since as of yesterday: Early in the week, Russia announced they are moving up the testing for their newly proposed currency clearing system. It had been planned for a May, 2015 testing phase followed by going live, this is now moved up to Dec. 15th, yes, this Monday! Why? Why are they moving up the start date? Presumably they also know something or see the immediate need to be able to clear funds for trade outside of SWIFT.If you think this one through, Russia will have the ability to facilitate ANY trade between ANY two or more parties while excluding the use of dollars …and the prying eyes of America! This will mean whatever sanctions on Russia will be lessened, it also means SWIFT is no longer the only game in town. Maybe the BRICS et al will no longer care, or need to use SWIFT? No, not “maybe”, definitely.
Maybe this is a what Putin ultimately wants because they can get off this USD fiat currency system in a jiffy WHEN everybody decides to stop trading the Ruble against the USD, hence putting this FX manipulation to an end once and for all.
Damn... A bunch of ZHers smoking Putin's hopium here. Russia is in a world of hurt. Ain't no fucking gold standard coming. They'll bomb before then. But won't be able to sustain shit if they're broke.
The west is winning. Again.
Not smoking anything TM but honestly who in this world is standing up to the zionist regime except Putin....the enemy of my enemy is my friend
And what the West is doing to Russia isnt right.
If WW3 needs to happen, it was already planned from a while back. Just buckle up for a future that aint going to be smooth.
I'm with you re: Russia vs cancerous Zionist terrorists.
Russia has been in the crosshairs of the money scammers since the mid-19th century when they refused the central bank system access to Russia. Then the Czar sent his navy to guard our Atlantic and Pacific coastlines from intruders during the Civil War. When his oil fields of Baku produced more oil in one day than all of JRockefeller's fields on the same day, he refused to let outsiders control them. It was at that point that a firebug and known criminal named Stalin earned his stripes as a trusted lieutenant with the money scammers. It went on and on until the NWO finally dragged Russia down and tormented the populace for decades intending that it would never arise again and obstruct their plans.
The Russians remember this. The dummies in DC do not. They will put up a fight because they are in it as a nation. We are not in it as a nation, we are being dragged down by the same control freaks who are capable of triggering wars to get what they want.
Orlov weighs in on this and I bet Tyler puts this up today.
http://cluborlov.blogspot.com/2014/12/can-anybody-find-me-central-banker...
I'd love to see the Soros types kidnapped by Spetznaz, skinned alive, then shot out of a cannon.
Interesting reading. Thank you. As I have said before again and again... this is a much bigger, far more complicated game. And there is one thing that can be counted on again and again: greed.
But they should first save Soro's brain--or what ever it is that fills his cranium--and see what kind of strange microsopic life forms can produce such destructive thoughts.
like centerline says...greed will be the downfall of humanity.
there's something inside a handful of these organisms that is plain evil
Zoros is a fuckin parasite...its as evil and hideous as the brain bug from Starship Troopers.
Pakistan: Taliban claim attack on military school, at least 125 dead including 84 children
The jewminati are causing a lot of trouble this morning.
Its becasue the Damn Scandi's gave some girl the nobel.. Ask HH he will educate you , we must stay out of their business it is the only thing that motivates their savagery, its us and no more. No more Nobels to muzzies, see how easy that is, fixed that problem..
I searched the the article on ROSSWIFT testing, but I can't find it. Mind sharing?
About seven years ago?
Wait, was that a trick question?
Yeah, right. Because Russia and China are just shining models of transparency and trust.
Rumor:
Amid allegations of internal CBR sabotage, Putin is going to nationalize the CBR very shortly cutting all ties to the Rothschilds in London.
ATTENTION TRADER: Please be aware that due to recent instability in the S&P, NYSE and NASDAQ markets, selling in these exchanges will be discontinued effective immediately. All 'buy' orders will be processed in ordinary course.
I wonder if Vlad has any secret accounts to attack the US markets wirh. What would a few Waddell and Reed plays on a day like this do. Or possibly an localized EMP at the ninth floor of 33 Liberty. I saw the reports of what they did to the Aegis cruiser that headed toward the Crimea last year, knocked out their the electronics and made them turn tail and leave.
Could just peg the ruble to gold (not on dollar value) and require rubles, yuan, or gold for trading oil... that should about solve the problem.
Exactly:
http://failedevolution.blogspot.gr/2014/12/russias-moves-to-decouple-eco...
This is actually what Putin wants. Going fast.
Don't worry a mere 20% peg to Gold should do the trick.
Putin PLEASE feel free to FREE the Slaves of this World, if only they realized they were Slaves and we would NOT even be in this situation in the first place.
Bye bye SWIFT, hello RIFT.
Or whatever they'll call it. But this name seems very appropriate.
Or they could dump all their treasuries, all at once. Maybe China will even join in.
dump them to who?
If i see one more "dump thier treasuries..."
The shit is zero sum....
And cause a closing squeeze...brilliant
It all started when they turned on and off European natural gas 7 years ago.
Done. One word... Kerry.
That's what has me worried, Bob!
All he does is pass gas, shiver and stammer.
If your going to be a cunt at least try and be funny
Funny strange...
or funny Ha ha?
He can't be a funny Cunt.... He's a SCREWED cunt.
Truther Putin will check mate Obama soon enough.... Watch what he does... And what he says.
---
And where is the view that Obama doesn't care and maybe he is helping Putin? After all, he (Obama) would be more flexible after Obama was elected a second term.
As far I am concerned Obama is saying and doing most things to put America in decline in the spirit of progressive fairness to the world. And I think Putin is happy enough for that present and is quite willing to take advantage of it.
The sad part is that 99% of all politicians of both major parties in the USA are part of the problem, thus no solution will be found. And a reset only temperarily removes the current politicians and oligarchs before a new group takes over.
Humans aren't perfect, nor is the world.
Until they are, we'll take the survey sunshine between the rain. A break from Oligarchs is still a break.
implement capital controls as a pathetic last ditch effort to maintain some sense of sanity in Russia's economy? is that the checkmate you're referring to?
you want to tell me how that's a win again? because from where I'm sitting, the ruble just got curb stomped
post turtle saver implement capital controls as a pathetic last ditch effort to maintain some sense of sanity in Russia's economy? is that the checkmate you're referring to?
you want to tell me how that's a win again? because from where I'm sitting, the ruble just got curb stomped.
----
I agree with you to some extent. However, raising interest rates is not capital controls. It is recognizing the market. If the market dictates it, then rates will rise even higher. Compared to the US, that is capital control where interest rates are kept at artificially low rates by the FRB.
And of course someone that can't comprehend my previous post and/or doesn't understand markets downvoted me simply because I posted an anti-Obama post. You'd think after all the crap Obama has pulled, we'd have gotten rid of the progressives, but they will continue on until their own death by their own hands. And I say to them, march on.
You are seriously still going with this meme? Putin has completely effed himself with his move into the Ukraine with the bad fortune (for his dumb ass) of collapsing oil.
Does Russia's central bank raising overnight rates 6 1/2% in one day not tell you something? i mean really, doesnt that tell you they're completely out of ideas? Fucking idiots on here...
Pootstain's gonna be lucky to survive this.
This isn't going to do shit to Russia - those guys are depressions masters.
Rock n Roll n Vodka bitchez... All the way to the tanks..
Bitchez, we can't get Vlad to come out from under the tank.
Help!
WARNING Amerikan Patriot is a TRoLLER/paid SHill (check his history)
all he does is post MSM/ CNN articles like this one is from : http://www.bbc.com/news/business-30492518
CAN SOMEONE PLEASE ban him
thank you
Should be easy to whoop him then. Think of him as the "Glass Joe" of Fight Club.
http://en.wikipedia.org/wiki/Glass_Joe
pods
+10 for the Mike Tyson Punch out reference.
Yes, ban him, because the absolute last thing anyone around here wants is free speech. Such a slippery slope, it is. Plus, not drinking the local Kool Aid is prima facie evidence of being a paid shill.
Putin has ordered that anyone in Russia wishing to log on in an internet cafe must first register at the shop by producing his National ID Card. That's what you call freedom. US alphabets take note. We simply cannot have a Lack of Privacy Gap.
If people are being paid to intentionally de-rail dialogue -- then yes -- ban them.
you and I often de-rail dialogue. it happens, it comes with the turf. proving the paid part... we'd have to have the NSA as referee
I side with chindit13's excellent comment
I respectfully disagree.
You and I hijack all kinds of threads -- but our banter is more than just copy/pasting news stories, and mocking others.
I am never a fan of banning people on internet forums, and traditionally the Libertarian in me hates stifling speech. There are plenty of anti-Putin people on here who have arguments that are based in some form of logic, and/or personal feelings based on history. (for example, that Latvian guy) I would never want to prevent them from speaking.
However, this idiot is not the same breed. He is here not to foster a dialogue, but to create chaos. He is either paid or he is mentally retarded. Neither of these groups should be participating in a blog about macro-finance and geo-politics.
He either needs to get a new occupation or go back to smashing bugs with a rock.
I actually appreciate the trolls.
They're the people you cut your teeth on, here at ZH. Over the years I've learned a lot because of them.
Having some ignorant twat spew nonsense at you, is great motivation to become informed.
Then you evicerate 'em.
Agreed. Always throw haymakers at trolls and knock their teeth out.
And FREE francis_sawyer!
Sometimes its different. Once you see their training manual, you can easily spot them. Instead of countering with facts as rebuttal, this troll has devolved into fart jokes for thread de-railment and character assassination.
https://s3.amazonaws.com/s3.documentcloud.org/documents/1023279/the-art-...
Good point because then it's "paid speech"
Ban the idiots who respond to him. (sarc)
Seriously, if you can't ignore a Troll, then WHO is the idiot?
I don't think we should ban AP, or anyone else. Amerikan Patriot is a troll, a worthless propaganda shill, and an all around general issue cunt. But we should never ban him. Everyone here can recognize lies and disinformation. ZH is a free market of ideas. Let AP float his ideas in a free marketplace and let the market discover the intrinsic worth of those ideas. For my money, if AP's ideas were stock, they would be worth mils, at best, and even then they would go begging for buyers. Bankrupt is bankrupt, so let him stay if he wants.
And NSA has picture of your wife blowing a black dig cause yours is too small.
Don't you have a hallway to sweep?
Hmm? Why so serious?
Now that's the kind of cutting edge humor that is so well reflected in the Alexa data for this site.
I hear David Letterman is retiring? Anybody call you yet? I mean, you are channeling Johnny Carson. It's uncanny.
The Russian ruble crashed again on December 15, in the biggest fall since the last big crisis in 1998. The Central Bank of Russia (CBR) belatedly stepped in with a huge interest rate hike overnight, but it has been roundly criticised for being "behind the curve" and unnecessarily threatening the stability of Russia's financial sector.
"You have to kind of ask yourself what a central bank is doing when it lets its own currency fall by 10% in a day, when it has $420bn in FX reserves (like 18 months of import cover). This is extreme central banking, and the question is what are they trying to achieve?" asked the ubiquitous Tim Ash, head of emerging markets research at Standard Bank. "Moves like this create systemic risks – the risk of panic amongst the general population, and surely risks of major deposit flight. And it also comes on the back of already huge moves in the exchange rate."
The ruble has now lost over half its value to the dollar this year – a UK penny was worth more than a ruble on December 16 for the first time ever – while all previous attempts by the CBR to stop the rot have failed. Bankers like Ash are complaining that the central bank's rate hike of earlier in December by 100 basis points and the lack of intervention on the currency market have led to a rout that threatens to spin out of control. Russia watchers had been expecting at least a 150bp hike, and the ruble entirely ignored the increase and continued to slide, before taking another big step-down on December 15.
At a late night panic meeting on December 15, the CBR finally conceded defeat and pushed through a massive 650bp increase in the key policy rate that will almost certainly kill off growth in 2015 and lead to a deep recession on the order of "at least 4.5% in 2015 if oil stays at $60", the CBR said in a statement. The choice has become between a recession next year or a financial crisis now – and the CBR has gone with recession in 2015 as the lesser evil. "This decision is aimed at limiting substantially increased ruble depreciation risks and inflation risks," the central bank said in a statement.
The CBR also said early on December 16 that it would increase the maximum volume of foreign currency it provides to Russian banks, via its forex repurchase agreement auctions for 28 days, to $5bn from $1.5bn.
Unfortunately, the aggressive move looks to have been in vain. Despite coming out of the gate with a 9% gain at the opening of the market on December 16, the ruble has since given up all those gains and by midday Moscow time was down about 3% on the day.
Keeping the power dry
CBR Governor Elvira Nabiullina has made it clear that the last thing she wanted to do was hike rates, as she has been more worried about the effect on Russia's already low growth (Russia will finish 2014 with about 0.5% growth). But in the end, say critics, she now has the worst of all worlds: $100bn has been spent managing the currency lower; total rate hikes this year are still a growth-killing 10%; and the ruble's value has still been cut in half. Some are already calling for her head.
Nabiullina has said that she believes the fall in the ruble is "temporary" as it adjusts to the falling prices in oil, which are also "temporary" and she expects both to rebound next year. The plan was to keep the powder of hard currency reserves dry now, so that Russia could cope with the pain of long-term financial sanctions.
"This is a really high risk strategy from the CBR, and I think few global central bankers would buy into this one. The only thing I can think is what I have been saying for some weeks now, that FX reserves have been deemed mega strategic due to the geopolitical setting and to be conserved at all cost – while the CBR has also been told not to raise policy rates that much," says Ash.
Russia's heavy dependence on oil for budget revenues means that, now the ruble has become a freely floating currency since November, it is only natural for the ruble to recalibrate to the lower oil prices. The Brent oil price was just over $60 at the open of trading on the morning of December 16, but had dropped below this level by mid-morning. If oil loses about half its value, then so should the ruble. What traders and economist are objecting to is the fact that the CBR has not used some of its $416bn in forex reserves (down $4bn on the week last week) to smooth out the fall.
The danger is causing a panic. A crashing currency unsettles depositors, who rush to withdraw cash and destabilise the banking sector. Surprisingly, the crisis-hardened Russians have not panicked so far, as many have anticipated this devaluation, leading to soaring car and apartment purchases this year. But such a large movement could tip them over the edge. In the last two years both the Indian and Turkish central banks have faced similar crises, and massively hiked interest rates by hundreds of basis points to successfully quell fears and stave off potential bank runs.
The collapsing ruble will only hurt corporate Russia more. Underneath the currency crisis Russia has been suffering from a much more debilitating "investment crisis" – the instability means that Russia's business owners have halted investment plans and fixed investment was already falling this year, without which Russia has no chance of growth.
Banks are in a stronger position having already built up some $40bn in hard currency reserves in 2014 and so are better able to weather the storm. However, the high interest rates will kill their lending business, cutting them off from one of their main sources of income. It will also accelerate the accumulation of non-performing loans, which have been at modest levels in 2014 and are not an immediate threat to the system. But banks were already struggling to make profits in 2014, which were down by a quarter from the peak profits of over RUB1 trillion in 2012, and 2015 will be an even more difficult year for the sector.
Red lines
The generally accepted theory on the CBR's inaction is that the US/EU financial sanctions have been far more successful than Russia at first anticipated; with more than 1.8 years of hard currency reserves in the bank, Russian President Vladimir Putin calculated Russia could tough it out. However, now the CBR is called on to burn through about $10bn a week ,that cash pile doesn’t look quite as big.
The focus changed about two weeks ago at the CBR when it stopped intervening and allowed the ruble to sink unhindered as the hard currency reserves have become a "strategic resource". The CBR preferred to let the ruble slide so that it could keep its cash to support the banking sector and help cover an estimated $150bn of debt repayments that come due next year – mostly money owned by big state-owned corporations that have been cut off from refinancing their debt on the international capital markets by financial sanctions.
Oil prices fell to below $40 in 2009 and caused none of the panic that Russia is currently feeling. What scares everyone this time around is that oil prices could fall to $40 and stay there for at least a year. In 2009, low oil prices were seem as temporary and Russia's low debt levels reassured investors that it could borrow its way out of trouble if it really had to. Today, financial sanctions mean that Russia will have to rely entirely on its hard currency reserves and now no-one is expecting oil to return to $100 a barrel next year.
A debate has started on where the "red line" is for a fall in Russia's forex reserves; how far do they have to fall before Russia's financial system goes into meltdown? On paper, Russia should be fine, all other things being equal, until $60bn, or three months’ worth of import cover (and Ukraine's economy is currently defying gravity with half this amount of import cover).
The economist Anders Aslund suggested in a recent blog that Russia's reserves are actually $200bn of "useable money" and so a collapse could come even earlier, but as bne argued in a blog, this is an extreme view.
On December 16, the Association of Institution International Finance said the red line for Russia's hard currency reserves was at $330bn, whereas Charlie Robinson, chief economist at Renaissance Capital, said in a tweet, "We strongly disagree," pointing out that Russia still has $270bn of cash reserves and another $170bn in the two reserve funds, which should be more than adequate to support the ruble. The CBR's new policy of letting the ruble sink means that the money will last much longer.
Nabiullina has been betting that the oil price will stop falling soon and the price rebound to something like $70, bringing the ruble up with it. But that looks a lot less likely now and last night's rate hike suggests the CBR has caved into a new, much darker economic outlook.
Everything now depends on whether the oil price stabilises and at what level. There has been a lot of speculation that Opec members, and Saudi Arabia in particular, are happy to let oil prices fall in the short term to drive marginal US shale oil producers out of business. But the selloff is causing its own problems.
"Financial investors into oil have stop-loss positions which cause them to sell off their positions whenever the prices falls to certain levels," says one senior Russian fund manager, who has just been negotiating with Arab sovereign wealth funds. “What we are seeing now is several of these mandatory sell-offs being triggered, each one which drives oil down to the next trigger level.”
Contagion
Most worryingly, Russia's problems are starting to spread. Ukraine has been in deep trouble all year and it is now teetering on the edge of collapse; its hard currency reserves dipped below $10bn earlier this month, or about 1.3 months’ of import cover. The hryvna is down by some 40% since the start of the year and the only thing holding it up now is the promise of more international bailout money in the new year.
Kazakhstan devalued the tenge in February by 18%, but all the wiggle room it created has now been used up. Fears of another devaluation are mounting fast, as Kazakhstan's economy remains closely tied to Russia's as well as being a major oil exporter.
The falling currencies are no longer just hitting countries that are tied to Russia and the contagion is spreading out, leading some to start talking about a repeat of 1998 when oil prices fell to $10. Last week the Turkish lira sank to its lowest levels against the dollar for a year, despite the fact it is one of the big winners from falling oil prices, as it is heavily dependent on oil and gas imports. Likewise, China, another major energy importer. has watched its currency fall by 26% since May, and 7% since the end of October alone.
Collapsing currencies around the world, coupled with the "death spiral" of selling in the oil markets, is sparking worries that we are coming to the point where things could spin out of control – and not just for Russia.
First: My attention span is too short for this sort of thing.
Second: Are you AmeriKan Partriot? You smell just like him.
Third. I did read as far as this telling sentence: "What traders and economist are objecting to is the fact that the CBR has not used some of its $416bn in forex reserves (down $4bn on the week last week) to smooth out the fall."
That's right. The whiners about the ruble "collapse" are TRADERS AND ECONOMISTS. I think, if Putin had categories of people he doesn't worry about, traders and economists are right there with faggots and feminists, ie the socially destructive element. If these guys are whining, then Putin thinks his strategy is working.
"traders and economists are right there with faggots and feminists, ie the socially destructive element." LOL. Right on.
maxsteel,
i'm sorry your post got lost amongst the banning debate because it would be extremely interesting if a few of the FX traders responded to you.
Don't ban him..
Everyboard needs a resident stutter-er..
Something has jaded you Mr. Chindit. what happened to the wisdom and insight you used to post here...regularly?
Putin requires a registration to log in somewhere, so? it doesn't affect my life, or yours.
And you condone Americas brand of freedom lately? having something balance out DC lunacy is bad?
I have to be honest, I've never seen a shirtless Putin till after
Ukrainians where getting sniped in the head by the Kiev Junta..
Shhhh.... your interruptiong a ZH "Putin" circle jerk. Don't want to ruin the mood for some of these folks.
Damn, must it always be either/or? Why do you conclude that because I have no fondness for Putin, I must champion O or Keith's old shop? Offering an opinion that stands against the prevailing ZH zeitgeist does not mean support for the other side. For some reason, that concept is too difficult for most around here to grasp. There is a groupthink that is so absolute that it results in screams of "paid shill" whenever a poster deviates from the approved platform, whether it is on gold (an asset in my view, sometimes to be bought, sometimes to be sold), Puti, or anything where there is only one allowable view.
I used to disagree a lot with the member formerly known as akak, but there was one thing about which he and I seemed to feel the same. He left the site because of the Puti love fest.
I talked to akak all the time and I never heard him say that about ZH. I call bullshit.
And yes, I always loved how he used to kick you in the nuts all the time.
I remember akak's parting message, where he stated he was leaving ZH in protest because of the Putin-love-feast. Wait, perhaps I can find the link. Damn, I miss akak
edit: I don't find it, only endless talk about his departure, and why, and many of akak's acerbic remarks, of course
Akak threw a fit when the "Putin" love started to really get thick around here. I continue to agree with his position. This is curiously how people are tricked into the illusion of choice. Frying pan == fire. Hard to say which is which. All looks like pain to me.
You can call bullshit, or you can take a moment and go find his last post.
As for nut kicking, he and I disagreed about whether PMs were the be-all, end-all. I called them assets, with a time to buy and a time to sell. I believe it was around the time of $1750 and $40 that we first got into it. Mr. Market seems to have provided the only nut kicking.
OUTSTANDING.
Sorry for the either/or assumption. but thats the problem, there not being a 3rd option..
I view Putin as someone who stands in the way of something far more sinister, and without any delusion that the guy is a murderer, and ruthless dictator, but thats Russian buisness..
I'm/most are not a fraction of the writer you are, so, please disregard the low quaility trolls/groupthink and continue to press your opinion, it is appreciated
I'll resonate with you for a moment. Putin will kill you if you get in his way. i have no doubt about this. Show me a world leader, other than Ghandi, who doesn't have blood on his hands. It is possible that Putin is a Freemason, and is simply playing the part Albert Pike scripted for him. I won't ever rule that out. What are the other alternatives? It is entirely possibe that Putin wants to rule the world, and is just as evil as Obama and the neocon control matrix of the US.
What does this mean for us? It means we must accept our fate, or fight unto the death, because we have only evil to choose from. To put it another way:
Putin is either as evil as Obama (and I use "Obama" as shorthand for our entire evil western control matrix), or he's not. If he is, then we had better lay down our lives for liberty, because our only other option is total slavery, caught between evil on one hand, and evil on the other. If Putin is just a little bit less evil than Obama, then maybe there is yet hope for us after all. Who really knows? Ye shall know them by their fruits. So far, it "looks" like Putin is for traditional family, Christian values, the rule of law, international standards of non-intervention in the domestic affairs of sovereign nations, and diplomatic restraint.
Maybe it is just an illusion. It is smart to always be skeptical. Like I said, maybe Putin is jut playing his part. But maybe, just maybe, he is actually standing up against the evil. We can always hope with our eyes open.
Obama's a powerless, bi-sexual buffoon, hand-crafted by the zia to bring on the maximum chaos. As you stated, a shorthand for the entire western zionist control grid.
Putin, we will find out his true colors if he does or doesn't kick out the Rothschild CB. If he does, humanitarian of the century.
I don't know what's worse - the BBC spew or my mum works from home, earning X now and so can you to. Oh actually I'll take the latter, thanks. -1 for Amerikan Patriot
Are you the same American Patriot cunt who has trolled over at Market Watch for nearly 7 years and have been dead wrong ever since, are you that same cunt?
Please stop that. Cunts the world over are losing their self respect being compared to him.
In your sock drawer hey?
Ron Howard use to stick in the trunk of his car....I figure the sock drawer is safer....at least it's in the house.
He had to leave it in the car, he couldn't trust aunt Bee!
Is your sock drawer the second one on the left, or the third one?
Just be careful not to have a terrible laundry accident. I lost all my gold in a dryer incident
Opec and Russia say "market" will determine crude price". If that is the case, deflation is about to hit in a big way. How many shoppers are going to fill the malls after the holidays if prices may keep declining into spring?
There are no macro markets that are not part of the game anymore. This is economic warfare. And the heat is getting turned up, big time. The goal here is impose max pain, unleashing a countries population against it's leaders. Face it... there really isn't any other play here. The final run for world domination is on.
Let's look at the track record for this strategy, ie sanctions designed for "unleashing a country's population against it's (sic) leaders".
Iran- fail
North Korea- fail
Syria- fail
Iraq- fail
Yep, not such a good track record. But insanity is doing the same thing over and over, hoping for different results. Should work on Russia this time.
Correct, I think. Price wars in oil, price wars in phones... Stuff's getting cheaper. It's all malinvestment. Too much stuff, not enough money --> DEFLATION.
The U.S. keeps poking that bear with sharper and sharper sticks.
Methinks that might not be such a good idea. I guess those boys
running the show in the U.S. are city boys, country folk would
know better.
We keep telling them, don't fuck with Sasquatch.
Do they listen?
China is stirring the pot.
DaddyO
But if it's your only play...
Putin might as well haul off and invade the Ukraine proper - what is the rest of the world gonna do? Put sanctions? .. never mind did that. Collapse their ruble?.. Oh wait never mind did that.. Stop importing their vodka.. Oh wait their own people are already drinking it all..
"... U.S. keeps poking that bear"
Yes, it appears some people are getting desperate...
Fuck Putin the ugly little rat, poke poke poke..
https://www.youtube.com/watch?v=c5BL4RNFr58
If America doesn't watch out, Vlad's going to huff and he's going to puff...and then fart a real big one.
That'll teach the West!
Be careful everyone, he might sell more cheap gas to China.
Well he's certainly fucked up Australia's LNG 'miracle' with that move. We were all thinking we'd send liquid gas to Asia and all become millionaires.
In a war of attrition the aim is to force your enemy to lose more than he can afford, while losing less than you can afford. So if Russia can afford to sell more cheap gas than her enemy, then that is the move to make.
"That'll teach the West!"
IMO, Putin is not trying to teach anyone, anything...
Totally unreal. Maybe The Fed really is omnipotent after all. Fundamentals clearly mean nothing in this game. Russia has Sovereign debt of about 20% of GDP, forex reserves, Gold reserves and abundant resources. In contrast the US has a currency "BAcked" by Trillions in debt and a Fed Balance Sheet of an additional 4.5 Trillion. So, yes, this all really makes sense?
But this is probably the end game. Russia is being crushed (But they will come through) and PM's are being crushed just to make the muppets understand that they have no way out. They too will come through.
We have fun actually in Russia. we think it's a good chance to say bye bye dollar and burn them=)
Perhaps a Gold backing to the Ruble at some stage? But not now, The Fed/USG would just crush PM's even more in the Paper markets. But Russia has a longer attention span than The US.
... and you're just as delusional now as you were in 1998, if not more so... they need to stop putting stuff in your vodka, it's messing with your head
OK, so here is my back of the napkin economic analysis fo the Russian issue:
1. A floating ruble that falls in value compensates for a low oil price. This compensates for gvernment revenue loss, and avoids deficits.
2. Maybe I have this wrong, but allowing the ruble to free-float conserves foreign exchange reserves for wen these reserves are needed. I think the analogy here is famine storage. Russian leadership recognizes that low oil prices are recessionary, and so they respond in what is normal human (ie SANE) thinking: They prepare by storing resources, in this case, cash, and hope to ride out the downtrend. Insane countries pretend nothing is wrong, and simultaneously lie to themselves (what recession?), and aggesively attempt to export their economic woes upon others; in the proces, exacerbating their own problems, which they do no recognize because of their denial system.
3. A floating ruble is a long-term strategic move. Solzhenytsin (sp?) tells a story in the Gulag of a guy who lives in the rubbish pile. He wears horrible rags, and burrows down into the waste heap. He is so stinky and disgusting, no-one bothers him, not even the guards. But what he knows is, the rubbish pile is warm, from the heat of decomposition. It is full of food, so he is never hungry. And he is never bothered by guards or inmates, so he never has to work, and he never has to conform to the social rules of the camp. Russia knows how to survive in her own world. As developed nations go, Russia can decouple better than any other. Russia figures that if the ruble crashes, it wlll only devastate a parasitic minority, let's call them dual citizens. Everyone else will endure a little pain, but in a sense of solidarity, with at least a collective consciousness understanding of the long-term strategic benefit.
4. http://www.bloomberg.com/video/russia-making-it-very-onerous-to-short-ruble-armstrong-B38dOp33QlGbrFH6Jsrtig.html
My neighbor is from Russia. I'm not sure when she moved to the US, but her mom visits every once in a while for a couple months — and then goes back to Russia. I don't think she'd do that if Russia was half as bad as we're led to believe.
Totally unreal. Maybe The (9 Families that own the federal resever) really is omnipotent...
There fixed it for yah.
http://www.apfn.org/apfn/fed_reserve.htm
Only the currency, not the country
It's the USD-based FX market, and the Ruble entered it, and is now being trashed in currency war fashion, of course greatly aided by the oil price war
Stop idealizing markets. Free yourself from propaganda. Free Markets are an ideal. Reality often looks differently. Often, markets are the battlegrounds of powerplays, price wars, subsidy wars, cross-product price subsidy wars, market penetration wars, and so on. And in markets...SIZE MATTERS
This is straight-up economic warfare.
Actually, Russia's debt is closer to 10% of GDP. However, there's a reason for that: It's not because of Russia's self-imposed thriftiness. It's because the world has imposed thriftiness on the Russians. More pointedly, no one wants to lend to Russia. That's why when it does borrow, it does so at punitive rates of 9-10% or more.
No one wants to lend to Russia because it's defaulted no less than 5 times in the last 100 years, or about once every 20 years.
Bye-bye, Vlad!
I would love to drop the ban hammer on you.
Instead of pining for a ban.. Disprove what he states, I will read it, I want both sides of the story.
the fifth column RTHedge brigade here can't disprove it, which is why you see these impotent pricks calling for bans etc.
whaaaah, reality isn't what I want it to be, it just is, ban it, waaaah waaaah
7 downvotes for asking to see both sides... Wow, ABC you have an infection, might want to get some cream on that...
If you disagree with someone you want to ban them? Sounds pretty sovietesk to me....
The US has a currencey backed by the most advanced MIC the world has ever seen. Will it all fall apart? Probably, but there will be blood.
If everyone would just buy a Tesla we wouldn't have to mess around with this shit!
you know it's bad when Russian shopkeepers have started pricing their transactions in "nominal units"... I remember that from the shennanigans in 1998, what they're basically saying is "we're only taking dollars until the situation improves"
look at this debacle... the Russian CB trys to put up a defense with a hike to 17% and that defense is utterly crushed with the ruble going at 80 to the USD the very next day... you're going to see massive inflation and Russia is going to have a rough time going into the markets to raise money... Putin plays chess while the West plays judo, you think you got a hold on me but that means I got a hold on you, way to wake up the petrodollar dragon Mr. Putin, now you're going to see what that means in no uncertain terms...
LOL
war indeed
When will we see the same message for the AUR/USD pair?
Now this should help world trade.
Oh Sh*t!
Nice day to stay home and watch CNBC just to see their panicked faces.
Spin that, Bitchez!
I'm long Bartiromo porn.. :D
They flipped Ms. Lard Ass to Fox Bus for a sixth round draft choice, and a tray of bagels.
I hear they are going to give free pizza and beer to their last six viewers;)
I love their website - when their paid writers get 2 comments you can own the place and wreak havoc with the propaganda its so fun ... :D
That is awesome. Give em' hell! lol.
"I love their website - when their paid writers get 2 comments you can own the place and wreak havoc with the propaganda its so fun ... :D"
Thanks for the tip, Im there! (Evil grin...)
Now they just need to do that for USD/JPY! Wait...do it for all of them!
"Forex" sounds like a condom for the uncircumcised.
Eb don't knock 4X, without them there would be a whole lot more little Zorbas
running around.
Merry Nuclear Winter To Everyone.
Happy Christmas.
Have a Ramahanaquansmas!
May the Solstice be with you...
Kwanzaa Motherfucker.....
Damn this is getting entertaining and I just traded my last bag of popcorn for toliet paper.
You must live in Venzueala
That's ok, the fed just bought the Jersey devils so amusment will be had by all.
I know of an alternative.
Eat less Comrade, the toilet paper will last longer.
I bet we have an accidental shootdown of one of our aircraft now.....but it is funny when the game goes the wrong way...they just get mad and pick up the ball and go home....
Next they are going to take the field and all the players on it.
Poof, Russian fiat finds its true value, gold not so much.
I'm missing something, Dollars still exist, Rubles still exist, how can they not have a relationship ?