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Belarus In Full-Blown Hyperinflation Panic: Blocks News, Online Stores; Bans All FX Trading For 2 Years

Tyler Durden's picture




 

"We have to do something with these Belarussian rubles," exclaims one Belarussian as she shops to turn worthless rubles (BYR) into physical assets. As AFP reports, The Belarussian currency was dragged down by the slide of the Russian ruble last week, leading authorities to impose draconian measures, forbid price increases even for imported goods, and warn people against panic. Now, however, in an effort to stem the flood of hyperinflating domestic prices, authorities have blocked online stores and news websites to stop the run on banks and shops as people scramble to secure their savings. One of the blocked news websites noted, it "looks like the authorities want to turn light panic over the fall of the Belarussian ruble into a real one," calling the blockages "December insanity."

And indeed they have stepped up the insanity, extending the halt in FX trading...

Today the Belarus central bank shocked its own population when it also announced full-blown capital controls designed, releasing additional measures to stem the "negative trends of currency and financial markets " including raising mandatory sales of FX revenue to 0%, suspending all OTC FX trading (so pretty much all FX), introducing a 30% fee on all FX purchases, "recommending" that banks halt BYR lending until February, and sending 1-yr interest rates on liquidity operations with banks to a eyewatering 50% in hopes this leads to an increase in BYR deposit rates. It will. What it won't lead to is stabilization in the deposit market as the natives realize they too are next up on the hyperinflation train.

 

End result:

through 2017...

  • BELARUS HALTS OTC TRANSACTIONS IN FX UNTIL 2017: INTERFAX

UPDATE: Belarus Overnight Deposit Rate surges to 49%

 

 

As AFP reports,

Belarus blocked online stores and news websites Sunday, in an apparent attempt to stop a run on banks and shops as people rushed to secure their savings. In a statement Sunday, BelaPAN news company, which runs popular independent news websites Belapan.by and Naviny.by, said that the sites were blocked Saturday without any warning.

 

"Clearly the decision to block the IP addresses could only be taken by the authorities because in Belarus the government has monopoly on providing IPs," it said.

 

Other websites blocked Sunday were Charter97.by, BelarusPartisan.org, Udf.by and others with an independent news outlook. The blockage started on December 19, when the government announced that purchases of foreign currency will be taxed 30 percent and told all exporters to convert half of their foreign revenues into the local currency.

 

"Looks like the authorities want to turn light panic over the fall of the Belarussian ruble into a real one," Belarus Partisan website wrote, calling the blockages "December insanity." Internet shopping websites were also blocked en masse. Thirteen online stores were blocked Saturday for raising their prices or showing them in US dollars, deputy trade minister Irina Narkevich said, Interfax reported.

 

The government announced a moratorium on price increases for consumer goods and ordered domestic producers of appliances to "increase deliveries" and keep prices the same at the risk of their management being sacked. Belarussians lined up for hours to clear out their bank accounts and swept store shelves to secure their savings, stocking up on foreign-made appliances and housewares.

 

The Belarussian ruble has lost about half of its value since the beginning of the year, having been hit hard by the depreciation of the Russian ruble since its economy is heavily dependent on its giant neighbour. With foreign currency swiftly depleted in exchange offices, Belarussians even launched a black market website dollarnash.com where individuals could buy and sell dollars and euros.

This follows the previously noted implementation of a 30% FX transaction tax, which however now that all OTC FX trading is banned for 2 years or longer, will hardly be collected.

$ 460 million will bring to the Belarusian budget introduction of a 30% tax on the purchase of foreign currency in Belarus. This is the TV channel "Belarus 1" said First Deputy Minister of Finance of the country Maxim Ermolovich.

 

"Given the daily supply and demand in the foreign exchange market budget revenues will amount to about 5 trillion Belarusian rubles, or $ 460 million at the exchange rate of the National Bank", - he said. Recall, December 19 NBB announced the introduction of December 20 temporary levy of 30% on the purchase of foreign currency for individuals and legal entities in connection with the sharply increased demand for foreign currency in the domestic market of Belarus. Legal persons will pay the tax on the stock exchange, and individuals - in the form of bank commission when buying foreign currency.

As a result, expect to see more of this...

 

Keep in mind that the scenes shown above are what the BOJ, the ECB and the Fed would dub "success."

 

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Mon, 12/22/2014 - 09:36 | 5580594 Spungo
Spungo's picture

I NEED EVERYONE TO STOP PANICKING!!!!

Mon, 12/22/2014 - 09:40 | 5580610 flacon
flacon's picture

Is this when the oceans turn to lemonade, like the Soviets promised?

Mon, 12/22/2014 - 09:46 | 5580622 WVHillbilly
WVHillbilly's picture

Don't assume it's lemon flavored just because it's yellow....

Mon, 12/22/2014 - 09:51 | 5580630 Cognitive Dissonance
Cognitive Dissonance's picture

But....but....but this could never happen in the USSA. So what's the big deal?

/sarc

And a word to the wise. Don't eat the yellow snow.

Mon, 12/22/2014 - 09:53 | 5580639 Stackers
Mon, 12/22/2014 - 10:00 | 5580659 GetZeeGold
GetZeeGold's picture

 

 

Bans All FX Trading For 2 Years

 

What's that in doggy years?

Mon, 12/22/2014 - 10:17 | 5580713 Looney
Looney's picture

...What's that in doggy years?

What kind of dog?  ;-)

Looney

Mon, 12/22/2014 - 10:36 | 5580777 old naughty
old naughty's picture

dup

Mon, 12/22/2014 - 10:39 | 5580798 SWRichmond
SWRichmond's picture

Western banks are now fully integrated into the government and are overtly functioning as implements of foreign policy.

Mon, 12/22/2014 - 10:59 | 5580858 Publicus
Publicus's picture

World War 3

Mon, 12/22/2014 - 11:04 | 5580875 gold-is-not-dead
gold-is-not-dead's picture

hehe, 30% fee to switch one worthless paper for another? Get real sheeple, metals, food an crypto, that's the MAJOR wealth.

Mon, 12/22/2014 - 11:12 | 5580891 SafelyGraze
SafelyGraze's picture

There are no grounds for the acceleration of inflation in Belarus

-Prime Minister Mikhail Myasnikovich

http://eng.belta.by/all_news/economics/PM-No-grounds-for-acceleration-of...

Mon, 12/22/2014 - 11:37 | 5580993 maskone909
maskone909's picture

If the first thing you do when hyperinflation hits- is go buy a big screen tv, you deserve whats comming to you!

Zh'ers buy gold lead and food and water.

Mon, 12/22/2014 - 11:41 | 5581002 fuu
fuu's picture

Good thing Belarus is an exporter of tractors and ag products, they probably have food laying around already.

Mon, 12/22/2014 - 12:18 | 5581144 TerminalDebt
TerminalDebt's picture

We made some folks poor

Mon, 12/22/2014 - 13:39 | 5581460 0b1knob
0b1knob's picture

The situation is a little more complicated than the article suggests.    Belarus can still buy items which Russia cannot due to economic sanctions.   The Belarus citizens are buying everything in sight to sell at a big mark up to the Russians.

http://news.yahoo.com/belarus-enjoys-bonanza-amid-russia-west-tensions-0...

 

Mon, 12/22/2014 - 14:59 | 5581837 I MISS KUDLOW
I MISS KUDLOW's picture

what would hsn and qvc sell?

Mon, 12/22/2014 - 16:06 | 5582066 Haywood Jablowme
Haywood Jablowme's picture

 

REMAIN CALM!  THIS IS ONLY A TEST!

Mon, 12/22/2014 - 16:20 | 5582119 cnmcdee
cnmcdee's picture

I wish I wouldn't have to look at the celebrity with the screwed up lips every time I come to this website..

Mon, 12/22/2014 - 18:26 | 5582569 wee-weed up
wee-weed up's picture

Try NoScript

Mon, 12/22/2014 - 20:23 | 5583064 Sages wife
Sages wife's picture

First-world problem.

Mon, 12/22/2014 - 16:31 | 5582139 SAT 800
SAT 800's picture

To me it looks like a perfect example of public foolishness and mis-information. The Russian Ruble is up sharply from it's bottom two weeks ago; basically their stategy to raise bank rates to 17%, (shock and awe); can only be counted a success. The long position FX traders are the ones with the "money made" at this time, and there's no indication whatsoever that the Russian Ruble is going fall again or make any new lower low. So why panic this week? Mass Mind.  Poor information. I would open a bank accouint if I was in that part of the world; if you study these examples one by one, Argentina, Mexico, Brazil, etc. in the twentieth century; after the central bank panics and puts the interest payment up to a certain point, the deterioration stops and you can actually make a net buying power profit on your one year CD; for instance. I had one at the National Bank of Mexico at one time for over 2 millionn Pesos; that paid 98% per year; interest. It worked out fine for me; even tho the peso did devalue somewhat more after I opened the contract.

Mon, 12/22/2014 - 16:38 | 5582162 SAT 800
SAT 800's picture

Yeah; exactly. It's not a defunct economy by any means. The government might have overreacted a little; or maybe not; but basically the actions they're taking are to prevent the foolish population from ruining their own currency. They're "shitting in their own garden" as an old Ukraine proverb says.

Mon, 12/22/2014 - 21:17 | 5583285 Rootin' for Putin
Rootin' for Putin's picture

Thats what i thought last week when the Russians were doing the same.  Its just like AR sales post sandyhook.  They dont expect stocks to be replenished soon and think they can turn a profit by selling that tv or bmw even in a month or two.

Mon, 12/22/2014 - 13:40 | 5581462 COSMOS
COSMOS's picture

Totally agree, I would be buying PM, rice and beans or farmland with their life savings rather than TVs.  Guess they just want to watch blank screens when the govt closes down the tv stations too lol.

Mon, 12/22/2014 - 14:05 | 5581579 Never One Roach
Never One Roach's picture

I've looked into this Belarusian hyperinflation issue and there is no doubt North Korea is behind it.

Mon, 12/22/2014 - 15:12 | 5581869 TerminalDebt
TerminalDebt's picture

and who do you expect to be selling farmland, rice and beans for useless paper?

Mon, 12/22/2014 - 16:15 | 5582104 Miffed Microbio...
Miffed Microbiologist's picture

Something tells me if you must buy rice, beans and farmland during a hyperinflationary event, you are completely fucked and may as well stare at a blank TV screen. But I have a tendency towards cynicism.

Miffed

Mon, 12/22/2014 - 16:35 | 5582151 SAT 800
SAT 800's picture

The thing is it's not a "real" hyperinflationary event. It's an example of public all running in one direction at the same time. They're going to continue to have trade with Russia; the Russian Ruble is not dying; they have an economy they're not a defunct country; "Great Britain" has more to be afraid of than they do. It's all just public opinion. I predict they'll come to their senses in a couple of months and just sheepishly go back to  business as usual. The key is, there is still a busines to go back to; they export agricultural product and the Russians are going to paying for it. It's kind of ridiculous, really.

Mon, 12/22/2014 - 16:32 | 5582147 Nathan American
Nathan American's picture

We inflated some folks...!

Mon, 12/22/2014 - 12:22 | 5581159 Socratic Dog
Socratic Dog's picture

I had the same thought.  But maybe that's all the reporter knows.  Didn't occur to him to check out the local gold coin dealer.

Blind leading the blind. 

Mon, 12/22/2014 - 16:45 | 5582189 SAT 800
SAT 800's picture

Russians, Ukrainians, and Belarussians have been showing up at the Mint in Vienna Austria where they sell Austrian Phillharmonics, the one ounce bullion coin, to all comers. They usually show up with a main guy and a bodyguard type; and the bodyguard will whip out a driver's license made out to "Alexander Alexandrovich" at some address in Ukraine' which probably doesn't exist; and the clerk carefully writes down the details on the "ID"; and counts the stacks of 500Euro bills and gives them a sack of coins. Everybody knows its a joke, but it's "business"; nobody cares.
A

Mon, 12/22/2014 - 12:27 | 5581186 83_vf_1100_c
83_vf_1100_c's picture

  I was thinking the same. The country is on the edge of collapse so let's throw every kopeck we have at electronics! Morons. The real entertainment will be on the streets hanging pols and bankers.

Tue, 12/23/2014 - 10:51 | 5584850 Mad Muppet
Mad Muppet's picture

Can't wait to see that on youtube!

Mon, 12/22/2014 - 13:58 | 5581557 Automatic Choke
Automatic Choke's picture

they are panicking.  they are buying anything of value that they can spend their folding green on.  if gold coins or jewelry were available, they would certainly favor them over TVs.  in places like that, you don't go out shopping for something, you go out shopping to find out what is available.  as the flatscreens disappear, they'll be working their way down the chain of rubles/cc to get rid of their cash.

Mon, 12/22/2014 - 16:00 | 5582042 Lester
Lester's picture

Think you buy water storage and filtration, not "water".  Maybe a case or two of Distilled Water if you have wet-cell batteries to tend...

 

Pay "money" for water?  Get a rain barrel for your roof, some empty blue plastic soda-syrup barrels for $15ea and cleanse them with bleach solution.  Get a drip filter like a Berkey or Katadyn that uses gravity feed and needs no electric to run.  Maybe a new waterbed mattress to store 300gals under each bed in your house (on main floor, if slab construction).

Food?  Stuff that lasts.

Maybe a generator and storage battery with inverter and solar cells for your own electric.
Maybe a chemical toilet and treatment chems on season close-out in RV section.

Frigging "bottled" water gets you that treated plastic and water quality usually below marginal municipal standards.  The majors are Pepsi, Coke, Nestle' and all use municipal water to fill their shitty bottles.  Maybe buy a distiller and be sure you aren't poisoning yourself...

Too stupid to live?  Got to fill the landfill with the throw-away water bottles?

 

Warm, Dry, Hydrated, Fed, and Capable of self and property defense; those are you major concerns.

 

Lie somewhere you get rain?  Maybe you got a chance, if you don't own your own well...

Mon, 12/22/2014 - 23:05 | 5583610 nuke ISIS now
nuke ISIS now's picture

Then after we buy, then eat the lead, food and water, we leave a massive collective steaming lead filled pile of shit on the desk of Obola, and say "yes we can  mother fucker you fucking stool eatng cocksucker"

"I guess we lead filled excrement on some folks"

 

The Great Cornholio!...TP for the bunghole

https://www.youtube.com/watch?v=HilVFpvzuBM

Mon, 12/22/2014 - 11:40 | 5581004 Poundsand
Poundsand's picture

The IMF and World Bank will soon come to the rescue with the words, "Come to Papa..."

 

This economic war is really starting to heat up.

Mon, 12/22/2014 - 16:40 | 5582165 SAT 800
SAT 800's picture

As far as I know, and i don't know much; that;s probably true. It's mass foolishness.

Mon, 12/22/2014 - 14:18 | 5581646 winchester
winchester's picture

when belarus go negociate stuff under the belt with ukraine... hmm.....

 

naaah, u know what, let me eat my christmas shit, we'll talk about war in january, would you.

 

 

 

 

Mon, 12/22/2014 - 10:35 | 5580780 old naughty
old naughty's picture

Sheeples...muppets...99%, or whatever you call yourself,

 

watch and learn,

and be knowledgeable and expectant.

Mon, 12/22/2014 - 11:19 | 5580928 Meat Hammer
Meat Hammer's picture

If and when that happens here in Murica we can all sip on our morning coffee and enjoy the clinking sound of real money in our hands. 

I think most of us did our run on the banks long ago. 

Mon, 12/22/2014 - 11:25 | 5580948 maskone909
maskone909's picture

Amen

Mon, 12/22/2014 - 14:48 | 5581791 Tall Tom
Tall Tom's picture

You forgot something very important on that list of yours maskone...

 

MEDICINES and Toiletries...Antibiotics...Ointment salves and pills if you can get them.

 

Toliet Paper...Soaps...

 

You know it as well as I do.

 

Batteries is another must.

 

Cigarettes and Alcohol...even if you do not smoke nor drink will be good for barter.

 

That is just the beginning. It can happen in the USA.

 

Good luck.

Mon, 12/22/2014 - 15:12 | 5581871 SWRichmond
SWRichmond's picture

Wanna be the most popular guy in the neighborhhod after the 'Pocyclypse?

Stockpile toilet paper.

Mon, 12/22/2014 - 17:49 | 5582442 Snoopy the Economist
Snoopy the Economist's picture

...and lead to protect it - otherwise someone wil just take it from you and then you will try to buy it back.

Mon, 12/22/2014 - 20:45 | 5583160 DanDaley
DanDaley's picture

...and femenine hygiene products...toilet paper can be substituted for in a variety of hygenic ways, not so easily the Red Sea.

Mon, 12/22/2014 - 15:02 | 5581838 noben
noben's picture

"If and when that happens here in Murica..."

If? When? Got 2 words for you: "Reserve Currency." I'm sure you can figure out the rest. :-)

Mon, 12/22/2014 - 15:08 | 5581862 Meat Hammer
Meat Hammer's picture

Thank you.

When that happens in Murica.

Mon, 12/22/2014 - 16:11 | 5582094 Lester
Lester's picture

Most of "Us" Muricans got no money at the bank to run for...

Got money?  You're one of "them" as in US vs THEM...

 

What's really funny are the guys investing in tobacco and alcohol for "trade", expecting to make-out economically by pandering to people's addictions.  Smokers are way more hooked than drunks or druggies.  Don't want any of either coming round your house...

Mostly, people with funds have them tied-up.  Those are already gone...  You may only think you have $$...  Wait for the "natl emergendy" closes all banks and markets.  Maybe the banks reopen in timely manner? Unlikely the exchanges will for years to come.

US Federal Acknowledged "national debt" was bumped by $300T with the TBTF banker derivative bail-out piece of the Govt Funding bill.  HAD To Keep Govt Funded, but gonna cost you another 1/3 Quadrillion $ to keep them solvent...

 

So fucking essential. 

 

America has been ass-raped beyond any understanding.  Those who think "we're next" don't know we already been "done".  America is now MK-ULTRA NATION.....   Which personality are we today?

Mon, 12/22/2014 - 11:41 | 5581003 MEFOBILLS
MEFOBILLS's picture

What does Belarus have to do with Malaysia in 1998?  Naked short selling on foreign markets will cause a rapid collapse of currency – this is also called a bear raid.  Betting downward pressure accelerates that pressure in a positive feedback loop.  George Soros (Jew) uses this economic warfare method in order to steal his money, to then fund his NGO operational arms, to re-inforce the scheme.   It is a rent seeking mechanism passed off as a necessary “free market” device.

ALL HYPERINFLATIONS are a function of exchange rate mechanism, this includes the Weimar Hyperinflation.  Zimbabwe aka Rhodesia is exception.

It is also curious that Malaysia has been suffering War By Deception, Mossad like attacks with downed airliners, etc.  ever since they showed up the IMF and International Banksters.  At its root, money is law, and a sovereign prerogative of a nation’s law abiding people.  Money is not international credit, even though our world is now an inverted psycho bubble that maintains this lie through Orwellian “war by deception” means.

Quote from .pdf link page 9

http://www.hks.harvard.edu/fs/drodrik/Research%20papers/Malaysia%20controls.PDF

Offshore institutions (mainly in Singapore) borrowed ringgit at premium rates (double or triple the prevailing interest rates in Malaysia) to purchase dollars and bet in favor of the ringgit's collapse. The economy's decline continued. This was the background against which the controls were instituted on September 1st.

The primary objective behind the capital controls was to end speculation against the ringgit.  Most of that speculation was coming from short-selling of the ringgit in offshore (mainly Singaporean markets). These markets were offering high interest rates to attract ringgit deposits that in turn served to fund the shorting of the currency. To shut down offshore trading, the government mandated that all sale of ringgit assets had to go through authorized domestic intermediaries, effectively making offshore trading illegal. All ringgit assets held abroad had to be repatriated. Worried that these measures would lead to an outflow of capital and further depreciation of the currency, the Malaysian government also banned for a period of one year all repatriation of investment held by foreigners.

-----------

My prognostication:  Belarus will join BRICS in a hurry.  Their currency will be stabilized with swaps, probably even with China helping with dollar injections.  FX controls are necessary to prevent Bear Raids by foreign dollar holders. 

 

WW3 is moving into a more earnest phase.

 

Mon, 12/22/2014 - 12:23 | 5581141 Zero Debt
Zero Debt's picture

Preventing speculation helped Malaysia, but let's be a bit mote brutal about the fundamendals. Malaysia and many other Asian countries that got hit by the crisis in 1997 were running consistent current account deficits, in Malaysia's case all the way back since 1990. Since 1998, Malaysia has recorded current account surpluses in every single year. Hence, one could also argue that their economic model changed as well. Go and check Thailand, Korea, Indonesia; you will see the exact same watershed event reflected in the current account figures. They were simply overvaluing their currencies massively vis-a-vis their export competitiveness.

Belarus as of 2014 is a very similar case. Except for one year, 2005, it has been running persistent current account deficits since 1993 (!) and their currency is not a reserve currency. If you keep doing so, where are you going to get the forex to fund your reserves.

Therefore I disagree that swaps or temporary liquidity will help Belarus now. Calling in IMF would deprive them of valuable sovereignty and should be avoided as well. It will only postpone the inevitable crash, while making it far more spectacular. Their economy simply is not generating enough forex to keep their currency credible. And for the avoidance of doubt; if I was living there, I would not hesitate a second to buy gold or USD banknotes and keep it outside the financial system, avoiding deposits (i.e. making loans to domestic banks). The government should consider to devalue the currency instead and fiercly seek improve domestic economic conditions to promote its competitiveness.

If Belarus does not act decisively now, it could prove destabilizing for the entire region. Now bear in mind its strategic location, in the middle of Russia and Ukraine. Why is it suddenly, that Belarus is in deep trouble, right at the same convenient time as Ukraine suffered a government coup, one may ask. If Belarus falls, Russia's borders will soon be completely surrounded with NATO-allied governments. Bear in mind the Baltic state's relatively recent joining of NATO, Estonia and Latvia, bordering north of Belarus. Hence it makes perfect sense to destabilize it, and hence make Belarus ripe for a foreign takeover, by stealth or otherwise.

Do not be surprised if you soon hear something about the Belarus government collapsing and a "liberation" being made. This is not a simulation.

 

Mon, 12/22/2014 - 12:46 | 5581246 adeptish
adeptish's picture

When John (Angel of Death) McCain shows up in Minsk.

It's time to panic...

Mon, 12/22/2014 - 14:12 | 5581618 COSMOS
COSMOS's picture

Right on the money with that analysis, they are setting fire to another one of Russia's daughters  and hoping the fire spreads to mother Russia.

Either way more Lebensraum for the Euro and the Europeans.

Mon, 12/22/2014 - 18:13 | 5582516 SAT 800
SAT 800's picture

more Lebensraum for the Euro; or more graves for everybody. Damn, I hope you're wrong about that outcome. I see what the posters are saying tho. damn I hope those crazies in Washington aren't going to show up here too.

Mon, 12/22/2014 - 13:47 | 5581505 Bananamerican
Bananamerican's picture

Well said, zero debt

Mon, 12/22/2014 - 14:24 | 5581673 ebear
ebear's picture


"Do not be surprised if you soon hear something about the Belarus government collapsing and a "liberation" being made. This is not a simulation."

Or, like Crimea, they could simply vote to join Russia.

Mon, 12/22/2014 - 14:48 | 5581790 PTR
PTR's picture

"Calling in IMF would deprive them of valuable sovereignty..."

 

Shhh.  You let the cat out of the bag.

Mon, 12/22/2014 - 18:00 | 5582460 TheGreatRecovery
TheGreatRecovery's picture

And, since USA Congress passed the Crimenibus last week, if the people of Belarus do manage to survive the crisis, and their currency recovers, Wall Street FOREX traders now shorting the currency can dump their losses on USA taxpayers.  Therefore, FOREX traders can pile on Belarus currency shorts to infinity and beyond, because "heads they win; tails the USA taxpayers lose".  Ain't free market capitalism great?

Mon, 12/22/2014 - 13:33 | 5581430 Aaronson.Jones....
Aaronson.Jones.Rutherford's picture

"Don't eat yellow snow."

Ask any eskimo

Mon, 12/22/2014 - 16:45 | 5582187 Black Forest
Black Forest's picture

That song came to my mind, too, when I read the comment. Zappa forever!

Mon, 12/22/2014 - 16:59 | 5582239 lincolnsteffens
lincolnsteffens's picture

There is nothing to worry about in my country. The IYR just hit a new all time high. Real Estate is a great "investment"! Oh, I forgot, the Banking sector just is in super profitability.

Ahhh, it is so satisfying. I think I'll take my afternoon nap now.

Mon, 12/22/2014 - 18:04 | 5582479 TheGreatRecovery
TheGreatRecovery's picture

All our nation's leaders want is love.    :-)

Mon, 12/22/2014 - 09:50 | 5580635 BaBaBouy
BaBaBouy's picture

... Just A Dry Run For The Real Coming Event, FEDie Losing Control Of The Grand Keynesian US Fiats...

Mon, 12/22/2014 - 09:58 | 5580653 dirtyfiles
dirtyfiles's picture

please don't worry

Mon, 12/22/2014 - 10:37 | 5580791 max2205
max2205's picture

Wining

Mon, 12/22/2014 - 11:06 | 5580881 Eyeroller
Eyeroller's picture

Winning or Whining?

Mon, 12/22/2014 - 12:25 | 5581177 FeralSerf
FeralSerf's picture

Rhymes with dining. English is a fucked up language.

Mon, 12/22/2014 - 17:02 | 5582247 lincolnsteffens
lincolnsteffens's picture

Not nearly as bad as French or Polish.

Mon, 12/22/2014 - 18:05 | 5582483 TheGreatRecovery
TheGreatRecovery's picture

I think English has more words than any other language - probably on account of the English loading up on good words everywhere they went and adding them to the language.  I doubt there has ever been anyone who knew all the words in the English language.

Mon, 12/22/2014 - 09:59 | 5580656 kaiserhoff
kaiserhoff's picture

That escalated quickly;)

Mon, 12/22/2014 - 10:44 | 5580818 Muddy1
Muddy1's picture

This looks a lot like my local Best Buy, lots of stuff sold for the Christmas holiday.  Why no pictures or comments on grocery stores being stripped bare?  Recent articles out of Russia talk about people buying cars and electronics as the ruble falls in value there.  What'll they eat and how will they heat their homes after buying electronics, cars and other non-essentials and non-edibles.  Although there was that one episode of MASH where Klinger tried to eat a jeep in order to get a medical discharge....

Mon, 12/22/2014 - 11:16 | 5580919 GeorgeHayduke
GeorgeHayduke's picture

Why worry about food? I mean, geeze, you can go 2-3 weeks without food. Most people these days can't go 3 hours without some kind of electronic device telling them about their favorite celebrity's latest attention whore attempts.

Mon, 12/22/2014 - 11:25 | 5580941 aVileRat
aVileRat's picture

Remember when ZH wrote back in June on a celeb. investment guru who claimed Russia and CIS countries were a screaming buy based on 'cheap valuations' and all the gold Belarus held + special trade relations with the RUS/Sino pact ?

Yeah. This place looks like a screaming bye. Hope nobody was dumb enough to invest in this cesspit.

 

 

Mon, 12/22/2014 - 11:46 | 5581028 Volkodav
Volkodav's picture

I doubt you know anything about Belarus.

Streets are clean.

Better worry about your own country.

 

Mon, 12/22/2014 - 12:27 | 5581188 Socratic Dog
Socratic Dog's picture

Not sure why that one merits down-arrows.  Too close to the bone?

Mon, 12/22/2014 - 13:10 | 5581344 toady
toady's picture

Clean streets doesn't scream "buy".

Mon, 12/22/2014 - 14:54 | 5581815 PTR
PTR's picture

You need blood on 'em before the buy is really good.

Mon, 12/22/2014 - 18:10 | 5582509 TheGreatRecovery
TheGreatRecovery's picture

Many people in Russia have large gardens, so they have food.  And live in cooperative apartments where they share a kitchen and the whole building complex is heated by steam from a furnace in the complex, which I imagine they have worked on enough that it is pretty efficient, so they have heat.  And the complex has bus service, so they don't need an expensive family car.  They don't have 3 bedrooms, 4 baths, and a swimming pool, but they can survive.

So, since it's cold, why not stay in some, and watch good Bollywood movies, Japanese horror, Downton Abbey, and NFL playoff games?

Mon, 12/22/2014 - 15:15 | 5581855 noben
noben's picture

"... Just A Dry Run For The Real Coming Event, FEDie Losing Control Of The Grand Keynesian US Fiats..."

Yup, yup, yup. Like a large sun that begins to run out of fuel an is about to go supernova, so too the USD burns hotter as it feeds off all the other currencies. And just as the dying sun fuses lighter elements into Iron (a net energy loss process) that brings about its end, so too the BRIICS and EMs need to do the monetary equivalent against the Dollar: They MUST anchor their currencies against assets... like oil gas or gold, silver or platinum. As one step (easiest and fastest for monetary stability), they can link it to their strongest regional currency, as this helps mitigate he "Divide & Conquer" attacks of the USD (via Fed, DOD and GS).

People have such a Normalcy Bias (to the USD and everything it does for them), that they confuse the short-term symptoms with natural steps in a long-term process.

If only more "folks" would TRULY understand the making and manipulation of money and currencies... eh, Redshield & Sons?

Mon, 12/22/2014 - 11:16 | 5580913 eishund
eishund's picture

it's yellow and it tastes salty.

Mon, 12/22/2014 - 09:42 | 5580616 fzrkid
fzrkid's picture

Keynesian wet dream

Mon, 12/22/2014 - 09:47 | 5580627 Arnold
Arnold's picture

I notice Sony products left on the shelves.

Mon, 12/22/2014 - 10:07 | 5580679 NoWayJose
NoWayJose's picture

Hey, I was cleaning out my garage and bumped into my 20 year old Sony Walkman - the last thing Sony did right!

Mon, 12/22/2014 - 11:44 | 5581015 OhNo
OhNo's picture

You rich bastasrd i always wanted one of them.

Mon, 12/22/2014 - 12:43 | 5581224 Frank N. Beans
Frank N. Beans's picture

20 years old?  I sold my 35-year-old Walkman on ebay a year ago to some guy in China.  Still worked.

Mon, 12/22/2014 - 14:18 | 5581643 Ward no. 6
Ward no. 6's picture

u should have kept it///

Mon, 12/22/2014 - 10:08 | 5580683 fightapathy
fightapathy's picture

Those are just cheap North Korean imitations.

Mon, 12/22/2014 - 11:26 | 5580950 NOZZLE
NOZZLE's picture

Long electrical power strips.

Mon, 12/22/2014 - 13:13 | 5581356 Gene Parmesan
Gene Parmesan's picture

The AP is calling it a "bonanza" that Belarus is "enjoying." You had to figure there would be a "retail therapy" spin.

http://news.yahoo.com/belarus-enjoys-bonanza-amid-russia-west-tensions-072726365.html 

Mon, 12/22/2014 - 09:45 | 5580625 Bangin7GramRocks
Bangin7GramRocks's picture

The United States should send them a new ambassador. Maybe a former gossip columnist or how about a minor league baseball manager. Just choose from the list of high dollar Obama campaign donors. Pick a good one!

Mon, 12/22/2014 - 12:29 | 5581189 FeralSerf
FeralSerf's picture

Delaware Joe's got a few more kids he could send. How about Beau?

Mon, 12/22/2014 - 18:15 | 5582528 TheGreatRecovery
TheGreatRecovery's picture

Why not Sarah Palin?  She has experience dealing with Russia, which she can see from her window.  She looks good in a parka.  And she can teach Belarusians to hunt and fish and pray and speak in pigeon English.     :-)

Mon, 12/22/2014 - 09:57 | 5580657 dobermangang
dobermangang's picture

If you're gonna panic, it's best to panic first bitches!

Mon, 12/22/2014 - 10:51 | 5580822 DanDaley
DanDaley's picture

Kreditanstalt redux? What will you need tomorrow that you do not have today?

Mon, 12/22/2014 - 11:08 | 5580888 hedgeless_horseman
hedgeless_horseman's picture

 

 

What will you need tomorrow that you do not have today?

I already have it!  Do you?

The Mammut Performance 11mm Static Rope's extremely low stretch and high strength make it a solid choice...

Mon, 12/22/2014 - 11:37 | 5580987 Ahoy Polloi
Ahoy Polloi's picture

How many meters will I need to hang all the bankers on Wall St?

Mon, 12/22/2014 - 11:58 | 5581078 cifo
cifo's picture

There are much cheaper ropes out there for this purpose.

 

Mon, 12/22/2014 - 12:18 | 5581140 Ahoy Polloi
Ahoy Polloi's picture

I'd want quality assurance to make sure the job got done properly with no foul ups.

Mon, 12/22/2014 - 13:39 | 5581457 css1971
css1971's picture

You use piano wire, not rope.

Mon, 12/22/2014 - 13:30 | 5581426 Realname
Realname's picture

I think bungee cord would be more appropos for bankers.

Mon, 12/22/2014 - 15:17 | 5581882 RallyRoundTheFamily
RallyRoundTheFamily's picture

bungee corded over a pit of hungry pitbulls

HO HO HO

Merry XMas

Mon, 12/22/2014 - 16:54 | 5582219 in4mayshun
in4mayshun's picture

Bankers? Hanging is too easy. I'd poor kerosene on em and set those bitches on fire and let them run down Wall st all ablaze.

Mon, 12/22/2014 - 10:15 | 5580704 HedgeHammer
HedgeHammer's picture

Panic? Why? It's an electronic store how about a couple pictures of the grocery store shelves.

Mon, 12/22/2014 - 11:27 | 5580955 maskone909
maskone909's picture

My thoughts exactly

Mon, 12/22/2014 - 12:58 | 5581299 ZH Snob
ZH Snob's picture

this kind of news will never even make a mention on msm.  no one in the ussa will care until it happens to them.  then they will act as if this is some kind of new development from left field.

Mon, 12/22/2014 - 13:44 | 5581485 holgerdanske
holgerdanske's picture

And everyone seems to buy a fancier newer TV. Just to be brainwashed in 48 " HD with brilliant colours.

Sometimes I think people are stupider than allowed by law.

Mon, 12/22/2014 - 14:34 | 5581728 Meremortal
Meremortal's picture


Alexander Lukashenka
 was not joking in 1995, when during an interview to Handlesblatt magazine he praised the concentrated official powers of Hitler. One year later, a rigged referendum made him something akin to a super President.

 

Why panic? They have a super President! And he thinks Hitler was awesome!

Mon, 12/22/2014 - 16:22 | 5582124 JuliaS
JuliaS's picture

This is what happens when people have actual savings and money to spend. In America if anything like that happened what would be people using? Their maxed out and cancelled credit cards? EBT's that are sure to go offline the moment SHTF?

When bank runs happen, foreigners do the buying. We do the looting.

Mon, 12/22/2014 - 09:36 | 5580595 mayhem_korner
mayhem_korner's picture

 

 

Coming soon to a central-planned state near you...

Mon, 12/22/2014 - 10:35 | 5580784 BlindMonkey
BlindMonkey's picture

"Coming soon to a central BANKED state near you..."

Fixed it for ya!! You're welcome.

Mon, 12/22/2014 - 09:36 | 5580598 Icebramovich
Icebramovich's picture

Bad news for our friends of Belarus

 

However, I hope China and Russia will help them

Mon, 12/22/2014 - 09:52 | 5580642 silverer
silverer's picture

They'd better hope the US doesn't "help".

Mon, 12/22/2014 - 10:40 | 5580807 Max Steel
Max Steel's picture

Maidan 3.0

Mon, 12/22/2014 - 10:46 | 5580825 Max Steel
Max Steel's picture

Maidan 3.0

Mon, 12/22/2014 - 12:44 | 5581231 disgruntled hou...
disgruntled housewife's picture

I hope your remark was offered sincerely- if so thank you.

Mon, 12/22/2014 - 09:36 | 5580600 negative rates
negative rates's picture

That's what they run out and buy, is electronics?

Mon, 12/22/2014 - 09:41 | 5580612 MeBizarro
MeBizarro's picture

my only guess is because plentiful, easy to store, and relatively straightforward to trade without a huge counterfeit market.  

Mon, 12/22/2014 - 09:44 | 5580621 negative rates
negative rates's picture

They lost 1/2 their value the minute they walked out the door with it, food on the other hand.

Mon, 12/22/2014 - 10:22 | 5580738 Realname
Realname's picture

Apparently these people are as stupid as your average American. Weve been seeing stories like this for some 2 weeks, I think, and not once have I heard it mentioned that food and other useful commodities are being purchased en masse. Im sure theres some who have a better understanding of the situation and who are buying food, water, etc but, apparently, not enough to warrant an article. All that plastic shit theyre buying, though, burns good for a few minutes when their heating bill doubles. Id be buying cigs, booze, and clothing (since Ive plenty of food and what not). The cigs would be for bartering for a big shiny tv at about 5% of its original cost...then I wouldnt feel as badly about making a fire with the pos.

Mon, 12/22/2014 - 10:29 | 5580763 robertocarlos
robertocarlos's picture

I bought a bunch of cast iron friring pans. You are going to pay my inflated price when you need my pan to cook your food.

Mon, 12/22/2014 - 10:33 | 5580773 Realname
Realname's picture

Thats what Ive been doing wrong for decades...not using pots and pans to cook my food in. Thanks

Mon, 12/22/2014 - 11:01 | 5580862 flapdoodle
flapdoodle's picture

Cooking in aluminum is better... makes you calm and easy going, and helps you follow orders.

Also helps you as you get older - makes your mental processes just fade away so you don't suffer!

And, aluminum is highly recommended as "ecologically friendly" by Bill Gates, Warren Buffett and Georg Soros and other people who matter.

Mon, 12/22/2014 - 11:13 | 5580908 Realname
Realname's picture

Aluminum was replaced by ptfe coated (Teflon) aluminum...more toxins for your buck.

Mon, 12/22/2014 - 11:03 | 5580838 Volkodav
Volkodav's picture

good choice

next: crosscut saw

Mon, 12/22/2014 - 15:37 | 5581955 tarabel
tarabel's picture

 

 

Dude, you can't use cast iron in a microwave. What's the matter with you?

Mon, 12/22/2014 - 12:37 | 5581211 disgruntled hou...
disgruntled housewife's picture

What I dislike about most of these comments is the hubris with which they are offered. None of you live in this country. You have no idea what is going on there. This is one artcle with some photos that in some cases are of the same store but a different angle. You don't know how you would react if you lived there because you don't know what their lives are like. I don't hear any sympathy, any worry, or concern for your fellow human beings. This site wails about the injustice that is perpetrated by the bankers and government officials but seems to gloat when those at the bottom suffer real consequences. You are no better you know and once those at the bottom of the economic ladder are dealt with they will be coming for you. All your guns, ammo, canned goods and water kept in poison plastic bottles will do you no good. Can we not temper remarks to include that these are real people, probably freightened out of their minds. Fear interrupts clear thinking- you will face it soon enough. I wouldn't gloat about your prowess of preparedness. 

Mon, 12/22/2014 - 14:07 | 5581595 Shirley Swanepoel
Shirley Swanepoel's picture

 

Amen Disgruntled. Let's please differentiate between the cabal and citizens. All of us are going to have hardship ahead. I feel for all the innocent citizens.

 

Mon, 12/22/2014 - 15:28 | 5581919 RallyRoundTheFamily
RallyRoundTheFamily's picture

Agreed there is no empathy.  On the other hand it is these "mental midgets" who need to wake up.

 

 

Mon, 12/22/2014 - 14:38 | 5581741 ebear
ebear's picture

 

It's called "whistling past the graveyard."

In the USSR they had a saying: Today me. Tomorrow, you.

I think most people here understand that.

Mon, 12/22/2014 - 15:08 | 5581863 metaforge
metaforge's picture

*golf clap* for the "humanitarian".  Being stupid = being a victim.

Mon, 12/22/2014 - 16:58 | 5582229 1Inthebeginning
1Inthebeginning's picture

the more people understand what may happen to them the more they can prepare.  Truth = compassion.

Mon, 12/22/2014 - 12:57 | 5581286 slightlyskeptical
slightlyskeptical's picture

"They lost 1/2 their value the minute they walked out the door with it, food on the other hand.a"

 

The currency is also likely to fall in half, making the used value in currency units the same as what was originally paid. and the new ones will then cost twice as much.

Mon, 12/22/2014 - 15:19 | 5581887 noben
noben's picture

"They lost 1/2 their value the minute they walked out the door with it, food on the other hand."

Apparently no country has a shortage of dumb and uninformed people, when it comes to truly understanding the concept of "STORE OF VALUE".

Sheeple is as sheeple does. And the herd instinct is strong in most "Folks".

Mon, 12/22/2014 - 09:50 | 5580633 silverer
silverer's picture

Transistors, yum. And the good news is that there's plenty of cords left, in case you need one.

Mon, 12/22/2014 - 10:01 | 5580663 Hooter Shaker
Hooter Shaker's picture

The cords will be gone soon.....When the hoards come back needing something to hang themselves with...

Mon, 12/22/2014 - 11:22 | 5580942 Meat Hammer
Meat Hammer's picture

Hoards with cords. 

Mon, 12/22/2014 - 10:00 | 5580662 Wild Theories
Wild Theories's picture

maybe electronics are the most expensive imports people use in their daily lives

or maybe Belarussians are apple fanboys, who knows

Mon, 12/22/2014 - 09:37 | 5580602 Fed-up with bei...
Fed-up with being Sick and Tired's picture

That couldn't happen here.....oh wait!

Mon, 12/22/2014 - 09:38 | 5580603 DeliciousSteak
DeliciousSteak's picture

Seems like someone's about to be smoked out. Lukashenko and Putin, two birds with one stone after already gaining control of Ukraine. I bow to thee oh mighty western kings. Finally freedom is about to engulf the last bastions of totalitarianism in Europe.

Mon, 12/22/2014 - 09:48 | 5580631 GoldSilverBitcoinBug
GoldSilverBitcoinBug's picture

Because the choice between Belarus totalitarianism and Amerikan/Western "freedom" is really a choice !?

Mon, 12/22/2014 - 10:07 | 5580677 disabledvet
disabledvet's picture

Well, he didn't say it was a good choice.

Mon, 12/22/2014 - 10:40 | 5580806 Volkodav
Volkodav's picture

Belarus is just fine as long as follow law and don't say any against govt.

Very clean streets, hard workers and very small public debt.

Not foreigner infested..

Mon, 12/22/2014 - 12:36 | 5581208 Socratic Dog
Socratic Dog's picture

Little foreign debt?  Hmm, where have I heard that one recently. Oh yeah, Russia.  Seems that lack of debt is the death knell for a currency at the moment.  Now why would that be?

Starting to see a pattern here.  EVERYONE must have debt.  Or else. 

Mon, 12/22/2014 - 18:33 | 5582615 SAT 800
SAT 800's picture

I'm on your side. For what it's worth. Which isn't much. Let's hope and pray it doesn't become "foreigner infested". God Willing.

Mon, 12/22/2014 - 10:06 | 5580680 Bullionaire
Bullionaire's picture

It appears that blue pill is working out just fine, Cypher.

Mon, 12/22/2014 - 10:09 | 5580684 Tursas
Tursas's picture

Putin has already won the big game, the only ones that do not get it, are NWO and Obama!

Ukraine is under bloody assault by the modern American "freedoms". We must pray that God has mercy, intervenes and defeats the Nazi government and mercenaries waging the war to enslave and to "democratize" Ukraine!

Mon, 12/22/2014 - 18:37 | 5582631 SAT 800
SAT 800's picture

I think we just need the Virgin Mary to appear in the sky over Kiev and tell the people they're being very bad boys; and they should all join the Russian Orthodox Church immediately and vote to join the Russian Federation. Before God gets tired of their nasty Fascist Ases and buries them all.  Unfortunately it's not clear how to arrange this.

Mon, 12/22/2014 - 10:10 | 5580687 fightapathy
fightapathy's picture

The Nazis considered half of Belarus as part of Ukraine in WWII. So why shouldn't today's Nazis in Kiev also want a big shred of their friendly northern neighbor to compensate for the loss of Crimea?

Mon, 12/22/2014 - 10:35 | 5580790 Volkodav
Volkodav's picture

Because Luka will kick their pollack asses running back to Lvov.

That is main reason.

 

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