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Ukraine To Halt Currency Trading Again Any Minute
With Prime Minister Yatsenyuk putting his foot down and squeezing the central bank to lift capital controls, Ukraine's currency is totally collapsing this morning. Up over 5 handles to a fresh record low of 33.75/USD, we suspect currency trading will be halted any minute. While we discussed the endgame for Ukraine last night, on the street, things are dire with ATM lines, shelves emptied, and local currency exchanges marking up levels dramatically more than the 'official' rates...
The 'independent' Central Bank halted currency trading, and then the government screamed...
"I learned this morning on the Internet that the National Bank of Ukraine has, as usual on its own without any sort of consultations, made the decision to close the interbank currency market, which will absolutely not add to the stability of the national currency that the national bank is responsible for. This situation has a very complex and negative influence on the country's economy," Ukrainian Prime Minister Arseniy Yatsenyuk said.
And it was unhalted... and this happened... UAH collapsed...
The picture is significantly worse on the street...
Mariupol exchangers Today the dollar has broken another record. Buy 1 dollar for 44 hryvnia can sell for 32 hryvnia, according to the city's website 0629.com.
Related to this is a panic in the city - in many shops in the city are buying cereals, flour, sugar. By the way, the price of sugar already reached 18 hryvnia per kilogram. "Soon people will buy cookies to drink tea without sugar," - joked seller.
broke the record and the cost of a liter of gasoline - more than 26 hryvnia per liter of A-95.
According to experts, now the price rise for imported goods and products. For example, the city has increased dramatically the cost of a kilogram of herring - up to 60 hryvnia. For the same money you can buy a kilo of meat.
It is noteworthy that the dollar in Kiev a little different - there you can buy a dollar for 36 hryvnia, but also to sell for 32 hryvnia. According to the workers exchangers, such a situation has developed in Mariupol for the area ATO.
with lines at the ATMs
Long lines at banks & ATMs as concerns about currency in #Ukraine grow. @theIRC in Artemivsk pic.twitter.com/vDyZ0GO345
— Tyler Jump (@TylerJump) February 26, 2015
and empty shelves...
Ukraine. The national currency has turned into paper. In Ukraine is a massive grocery psychosis. Photo (Kiev) pic.twitter.com/yM0QG2ia1W
— Oksana (@Ksjusha142) February 26, 2015
as Ukrainians try to get rid of Hryvnia for real goods.
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Has nuland brought cookies
they need US Dollars!! hehehe
Anyone interested in how we got into this mess this is a great place to start:
http://debtcrash.blogspot.com/2015/02/history-and-introduction.html
As a staunch liberal, I have no idea what all this means but I strongly believe it will never happen to us...or it will happen to us if it's a good thing. I'll draw that conclusion after reading up on the Huffington Post.
If the government does it, it has to be good, right?
East Ukraine is doing fine with their own currency.
so it went from 15 to 30. the ruble went from 30-60 via 80. the hryvnia is still luxury toilet tissue next to the shiny tracing paper style bog roll that is the ruble.
Chernobyl false flag in 3... 2... 1..., lol.
Hryvnia went from 8 now 44 to $ on the street in real, and shelf clearing, limit 2 small buckwheat for example if can find it...
vs:
Ruble has come back, shelves full stock available and price of heavy bag bulk buckwheat normal for comparison.
check back with me in 12 months. the apparatchiks will be begging for mercy
The distinction is that the West is driving down the value of the ruble, not the hryvnia.
Something too subtle for the mentally impaired.
by the west you mean the house of saud. and your point is?
No wonder you Banderstani are losing.......how does it feel to watch your country circle the toilet bowl, after the USSA has wiped its ass with you?
That you are incapable of understanding the difference.
Thanks for playing.
Suck it Pendragon, embrace the pain, LOL. Why worry about Russia, when your Ukie Banderstan Nazi country is destroying itself?
Does it make you feel better to know your neighbour has haemorrhoids, when you have AIDS?
you're barking up the wrong tree. i am am british citizen and have never set foot in either ukraine or russia. i have no axe to grind (putin cock to suck) or natural bias. you patently do.
Thank you Obama for the cheap hookers and blow in Keiv. Damn nice of him to do that for us.
Beware the East European hookers. While many are drop dead good looking, they have a disease rate that is staggering! My friends there tell me that there is no medical standard for these whores operating in former east block communist countries. I admit I was tempted once in St Petersburg, I had a friend talk me down, he said I was putting my health at risk by a very real degree. Remember, when you sleep with a whore, or any woman, you are sleeping with all their recent partners and their partners! That adds up, in the case of a whore, to thousands of disease potentials.
"Remember, when you sleep with a whore, or any woman, you are sleeping with all their recent partners and their partners!"
Don't be stupidly macho, Jack.
To all women, when you sleep with a man, you are sleeping with all their recent partners (yuck) and their partners (yuck).
"Don't let them eat cakes". "Oh, and fuck the EU".
Let them eat cookies.
Of course she brought cookies...
http://www.cindysbeentrippin.com/wp-content/uploads/2014/03/victoria-nul...
Clearly they're not having any trouble with monetary velocity. Perhaps Ol Yellerin ought to take a trip to Ukraine and get some good info on how they're doing it?
That's going to leave a mark...
Tommy Boy~
i guess Ukraine didnt get the memo that everything is awesome. dont they have legos in the Ukraine?
So why don't we see Nuland and McCain on the streets in Kiev handing out humanitarian aid to the people?! Oh wait... it's not the sort of aid they need, they need WEAPONS! /s
and British military advisers, to be announced while France and Germany are trying to have a peace talk with Russia and Ukraine
but since Putin can now park navy vessels in Cyprus, in spitting distance from the British Sovereign Navy Base, what can go wrong?
The US could run out of cookies to hand out to less fortunate countries, that's what could go wrong. Cookies for all!
Fuck me, I still want to know why the cookie woman thought that baking some fucking cookies and handing them out was good geopolitics. That was fucking retarded. Cookies. Geopolitics. Fuck. This is embarrassing.
ARRRRRRRRRRRRRRRRRRRRGH!
You can't eat weapons.
With empty shelves, who needs currency?
Why didn't I go into the toilet paper business,
when I was young and energetic?
It's Putin's fault! /s
I must disagree. IT IS BUSH'S FAULT!
You say Potaeto, I say Potahto...
;)
Its Dan Quayle's fault? Hunh.......who woulda known.
Do they have to exchange for dollars ……. Or just ask Janet for them?
The Ruble looks affordable. It already took its beating. US/Saudi can't orchestrate another halving of oil to take USDRUB 2x to 120. I wonder how many Ukies choose Rubles.
p.s. has the user comments page been returning 403 Forbidden for anyone else?
Yep. I've seen several comments asking about the forbidden, and it is true for me as well.
Thanks for the confirmation SofaPapa. 403s are server-side problems, so I would expect others to be affected as well. An individualized case would be interesting.
You can't edit a comment after someone else has replied to it,
or are you talking about something else? That's the only time I've encountered it, but it is jarring if you don't see it often.
Nope. This is different. When I try to look at the summary page of my comments, it's locking me out. Started yesterday.
Yes. Apparently the whole "following" function is FUBARED.
Probably the gubbermint spies trolling for truth tellers.
nsa on roll !
Yes....and it's forbidden to speak of such things.
And not talked about or brought by ZH. Ukraine has been meeting with EU officials. My take is that the EU is interested in getting Ukraine and eventually disposing Greece. Source: http://ukraine-eu.mfa.gov.ua/en
Sure, but which half of Ukraine? Dump Greece, split Ukraine... ...everyone happy?
They need Ukraine for food, spring planting coming up. I wouldn't doubt that this is the reason Russia wouldn't mind a few more square kilometers. Even in the old Soviet 5 year plans, Ukraine was the one area that produced food per the projections.
The EU is still struggling to come to terms with having Poland as a drain on resources, sorry "member". Last thing the EU needs right now is to take on Ukraine. For food? With many EU countries dumping food because of Russian sanctions? I think not.
Print more!
Well, at least when the gas runs out they can burn Hryvnia.
Why on earth do any of these people have "money" in the banks?
WTF - the guy that took the pics is looking at the long ATM lines - I'm looking at 2 guys strolling along with what look like AK 47s. That doesn't even rate a mention there - that's not good.
If the grocery stores are wipped out then they could always join ranks with IS-IS. I understand you get a jar of Nutella as a sign on bonus!
26 Hryvnia/ litre? That is like $0.90/litre or $3.60 USD/ Galllon?
60 Hryvnia for 2 kilos of meat? 2 kilos of meat is 2.4 Pds... for $2USD?
seams weird
Gasoline is what it costs in Kanada, after the Government takes it's pound of flesh.
As for the meat. My friend sent in 2 yearlings to the market, and got $2.50/lb - liveweight. Good roast beef is selling for $17+/lb
Ouch on the roast beef. I get it from a local organic cattle man who sells it for 14 fitty/lb. $17 seems steep to me.
Ground organic grass fed $5/lb.
It is officially Lent in Ukraine, who cares what the price of beef is there? Muslims? Godless commies?
yids
this is obviously why the US Equity's have just complted a nother v-shaped erasure of all losses in the last hour of trading in Europe....
When I was there it was 4 to 1 US Dollar....and that was a pretty good rate...the Banks there were just getting started..and were very strange....they had ATMS..but they did not work all the time...
What they need now in Ukraine , is somebody with a tank to start firing on the USA embassy as a thank you note for having fu....d the country
I will now need some notes for my collection of worthless currencies. The larger denomination ones tend to have more value as they are printed for a shorter time near the end.
Of course inflation of the money supply reflects massive theft by the government. Will people ever realise that the state is evil to the core or will the promise of something for nothing blind forever? I suspect the latter. Paging CogDis...
Now guess which currency will replace the collapsed hryvnia...
--not George S. Patton
O/T it looks like the SNB and various other central banks are up to their EOM shenanigans. The almost 1.5% short squeeze in USDX is the selling of euros by SNB and Others buying usd vs the chf which is also going parabolic today. They're also rinsing through the aud and yen to a lessor extent.
The USDX looked a little over sold on the daily chart, so I thought there would be squeeze coming over the next few days. Next month is going to be rough on the equity markets.
What they need now in Ukraine , is somebody with a tank to start firing the cannon against the USA Embassy , as a thank you ( sarcasm here ) for having fu….. up a country .
Meanwhile...in Greece...
It likely won't matter at all soon....
There are big FLASHES in our near future.
http://www.paulcraigroberts.org/2015/02/25/washington-destroyed-trust-nuclear-powers-thus-raising-specter-war-paul-craig-roberts/
Japan's Abe is soooo jealous of this inflation!!
Hmmmmm.. I sense a REAL coup coming. Looks like Germany in the 1930's. With the same ideology simmering in the background. This can't end well at all.
http://www.economist.com/news/finance-and-economics/21645242-wests-inade...
"The day of reckoning: The West’s inadequate support for Ukraine is being brutally exposed"
"IT MAY go down as one of the least effective bail-outs the world has ever seen. Not Greece’s, but Ukraine’s. Just two weeks ago Christine Lagarde, the head of the International Monetary Fund (IMF), promised Ukraine $40 billion over four years—an impressive-sounding sum for a country whose GDP may soon shrink to $70 billion."
"No one is sure where the money will come from. The IMF pledged $17.5 billion. A few billion dollars may come from other donors, including the European Union and America. Even if all goes to plan—and it probably will not—the pot is a long way short of $40 billion. It is nearly six months since the IMF actually disbursed any cash to Ukraine."
I pity Ukraine (a place I've never been to), but I laugh at Obama. The West's inability to make good on its big talk about economic support and preserving integrity of borders is being readily exposed to anyone willing to observe.
The Anglo-American Axis is now straight drive-by shooting countries to steal their wallets and disappear into the night.
C'mon Victoria, print cookies! You'll be a hero!...
It's time that the people who were behind all this answer for it personally; were that the case,
you could guarantee "this" would not be happening again any time soon.
I forget: is a collapse the best or worse possible time to vacation in a country?
no
"No" what? I like having a favorable exchange rate, and I imagine the locals wouldn't mind being paid in USD, but I also want to eat something during the trip other than shoe leather stewed in a random canned vegetable.
It is neither best or worst.
cos of changes, varibles and more increasing danger
$ goes further, but otherwise there are several negatives...
understand my meaning?
even those that familiar with Ukraine, are being very careful if visit,
cos there is no real law....it is what they make up at the time
No food, no nat gas soon and no money.
Looks like this Euro-pivot is working out splendidly.
Those original Maidan protesters against corruption must feel a bit foolish for what they started right about now.
Unintended consequences. Shit happens.
WTF! Ukraine is in hyperinflation and they can still buy sugar cheaper than I can at my local supermarket.
You are seeing it the wrong way. Hyperinlation does not mean things become more valuable. The money becomes less valuable.
You are seeing it the wrong way. It's not that things are becoming more valuable. Their money is becoming less valuable.
Their average salary used to be 100 USD now with the devaluation its about 50 (because they are payed in UAH not USD.
With a month work they can now buy 50 Kg of sugar
Looking forward to the running battles in Kiev, Billy Ray?
Yes, maybe the Right Sector will block any escape and set Parliament ablaze, Louis.
They've had a lot of previous with torching folks, Billy Ray.
Whadaya expect from generations of traveling circus flame-throwers & fire-eaters in every family, Louis?
Well, thank the new Ukraine government for overthrowing the old one which was corrupt (like the current one) and pro Russia. But hey, that was the status quo that everybody could live with! Notice how the western press never call it a coup d'etat which if of course was. Any also of course, the 3 letter agencies helped destabalize the country (Maidan) with which result? Limited war, uncertainty, chaos. Look familiar? Well, same thing that happened in Lybia et al.
Understable. If you've ever had an hernia, you really don't want it to move!
Senseless and Fatal for Ukraine to break from Russia:
http://russia-insider.com/en/history_ukraine_culture/2015/02/19/3661
del
Grocery rush and emptied store in Venezuela hyperinflation style, not in central America but in Europe yes in Europe: unbelievable.
Good job Ukies, now you are officially becoming a third world country.
"Grocery rush and emptied store in Venezuela hyperinflation style, ..."
About Venezuela...
http://www.vineyardsaker.co.nz/2015/02/25/obama-failed-his-coup-in-venez...
Obama? Please....do your really think he runs anything of importance in this country?
Venezuela-ish conditions in eastern Europe, goes to show that both right-wing and left-wing can fail miserably...
Russian Buro of Statistics: Consumer prices in Jan-Feb have already risen 5.8% ( which is a 16-year high. The FED must be jelous. Putin! Putin! Putin!
P.S. Russia freezes prices for some consumer goods. Maduro! Maduro! Maduro!
P.S.S.: Average pension in Russia (officially) = $180, average salary <$500. And this is after 15 years of Putinist "stability" and record oil prices. Welcome to Russia, bitchezzz! roflmao
P.S.S.S.: Sorry, I forgot to mention mortgage rates at 15%+
subject is Ukraine currency
not Russia
better worry about your own country
So this is all lies, ty, pizdabol? :)
"P.S.S.S.: Sorry, I forgot to mention mortgage rates at 15%"
This is going to end once the Russian Federation government nationalizes their CB. It beats me why they haven't done so thus far.
Is it evil Obama who prevents "the Russian Federation government nationalizes their CB"? Junta perhaps?
When the rouble collapsed, Russians ran to buy cars, TVs, iPhones.
When the hryvnia collapses, Ukrainians run to buy sugar and bread.
No wonder, Crimea is in Russia now.
Anyone who has followed the story in Ukraine since the Kiev Junta was put in power in a coup, knows that the ecnomic story has been one of rapid collapse. The part of Ukraine in active civil war, and the area of Kharkov which favors seperation from Junta Kiev, accounted for about 45% of all Ukrainian tax revenues before the coup! That is to say, this small, majority Russian part of Ukraine, was the main industrial and tax paying cash cow of the Kiev government. You can see what losing these areas has done!
Add to that the loss of the entire Russia trade, which accounted for the majority if Ukrainian exports to Russian consumers and indutrial buyers, and the Russian military consumer of Ukrainian high tech. Losing all this, export markets and the main tax payers all within 12 months!
The new EU imports are now priced out of reach, for all but Ukraine's 1%.
It was only a matter of time before currency hyper inflation took hold. ZH had articles on it, and so did many eastern european blogs and newspapers. Only the brain dead western media ignored the coming collapse. Living in a world of lies and propaganda favoring the Junta, the west's media failed totally to predict this disaster. You see, liars always get proved wrong, given enough time.
"Anyone who has followed the story in Ukraine since the Kiev Junta was put in power in a coup, knows that" it is all about Russia (surrounded by a "ring of fire"), not Ukraine or Ukrainians. TPTB could care less about their well-being. The worse, the better as it is going to create millions of refugees, instability, extremism, terrorist attacks in Russia, eventual Russian intervention in the south-east Ukraine to protect Russian-speaking population from genocide, etc. Add financial and trade warfare to that, too. All this to split Russian Federation into multiple puppet entities. It is pretty much certain that after Maidan 3, the next government in Kiev will be 100% nazi and fascist. So, everything has been going according to the neocon plan I would say.
I'm afraid people who try to force the "junta", "coup" etc versions of what happened in Ukraine are just too lazy to check out the facts:
- November 21st 2013 - Yanukovich government officially stops the Euro-integration process (which he had promissed to fulfill for years);
- the same day, around 10pm. 1000-2000 students, journalists, civil activists and opposition politicians come to Maidan square and settle there;
- 30 November 2013 at 4 am the police started to badly beat up people to try to make them disappear from Maidan. And only then did Maidan become a real movement with 100s of thousands of people involved. Once USA embraced the idea that the people do have the right to rise and revolt against the corrupt and oppressive regime. Too bad ZHers now think otherwise.
BS
It is documented otherwise.
you are not fooling anybody here by posting lies
You are welcome to post your version, mudilo :)
There are no versions. That is how we catch you out as being something less than truthful here. There is only one truth and set of facts. By every fact and historical norm the Kiev Junta was put in power in a violent coup, funded by western sources. Fascist rioters were paid a basic pay of 50 Euros a day, and leaders of the 100's got much more than that. The rioters wer trained up while on this pay inside Polish and Lithuanian training camps before the coup.
None of this is a version, it is fact. We accept only the facts.
More facts. MH-17 was gunned and missiled out of the sky by a Ukrainian Air Force SU-25. All physical evidence confirms this.
The snipers who gunned down the glorious heroes of Madian were killed by Junta allied snipers, probably western intelligence assets from former Yugoslavian nations like Kosovo or Croatia.
The evil that you support is collapsing in front of your face, but then you have a Version, to make it all seem fine.
Hi the ass fucked Maidan, even the Maidanites Russian hater in Lviv buy Russian made stuff to get rid of hyperinflating Hryvnia ASAP.
I would like to see the Banderist face when they see that "Made in Russia" stuff is a better wealth preservation "'currency" than their "Glory to Ukraine" original currency...
You dealt with the "Great Satan" after all...
Karma is a bitch isn't it ?
ukraine goldbugs congratulations ! who's next ?
The price of .5 liter of Ukrainian vodka hasn't changed at my local store, I'm waiting.
cheap life there.
In EU 1 liter of 95 costs 60 hrivnas.
......26 hryvnia per liter of A-95.....
A moment's silence, please, to honor another triumph for this administration's foreign policy. Obama's got it all over on the Four Horsemen of the Apocalypse.
What happens next, this is total economic collapse. Either they totally hyperinflate the currency by paper printing or they start to use another currency by selling the fabric of the country, only in Ukraine Porky and mates would get even fatter while the people starve. Can't see the EU or US bailing out with the hundreds of billions needed to backstop this entire broken economy. Putin will know this. These idiots can't even pay for their own gas past Friday FFS !
As Spock said to Kirk "Interesting game, this Poker". Only as JD Salingr said, it's no game for the loser. 40 million people reduced to poverty on the failed ambition to park the USS Ronald Reagan in Sevastopol bay.
Coming soon - judgement day for Arsenyhuk and Porky - the US Cavalry ain't coming boys .
But before that, its terrible to say, but famine, for the people of Ukraine in 2 weeks time . There could be starvation and malnutrition by Easter.
Well done Obama, send over some Apple Pie you wanker.
They can pay...they don't want to
Artillery has continued, iincluding Donetsk Airport area..
Coming to the US 10/2105:
https://www.youtube.com/watch?v=AQrTVFYLg-w&spfreload=10