People walk past a currency exchange office screen displaying the exchange rates of U.S. Dollar and Euro to Russian Rubles in Moscow's downtown, Russia, Monday, Feb. 28, 2022.AP Photo/Pavel Golovkin
Zero Hedge: "Game Over?" - Russia To Be In Technical Default Within Hours
More than two decades ago, on August 17, 1998, Russia defaulted on its debt and devalued the ruble, sparking a political crisis that culminated with Vladimir Putin replacing Boris Yeltsin and which also eventually resulted in the spectacular implosion of a then little known hedge fund called Long Term Capital Management (which was staffed to the gills with "brilliant" Nobel prize winners) which after receiving a Fed-led Wall Street bailout, ushered in the era of too big to fail.
We bring this up because in just a few hours, Russia will be in another technical default.
Read more ....
WNU Editor: With $650 billion in foreign funds frozen and Russian banks unable to transfer or receive funds because of sanctions .... a technical default is going to happen. The concern is how much will this default spread and impact Western institutions.
My answer is that it will be a disaster.
The international banking system is connected, and if one fails everyone else will be impacted.
The other concern is the world's dependency on Russian oil and natural gas. How will Russia now be paid? Is the world ready for $150/barrel for oil, or $200/barrel?
Can the world live with even higher inflation? You tell me.
And I am not even going to start on how this is going to undermine the US dollar as the global reserve currency.
Not surprising. Some analysts' are sounding the alarm .... Could Economic Warfare Backfire on the US? (SchiffGold).
11 comments:
It's all too convenient for the people behind the great reset
They're causing it and then will offer a desperate population the solution
Digital new currency tied to social credit score
We either trial and hang them all, or we will live as slaves by 2030
But Biden is a genius. I saw it. I heard it. He conquered death itself. Did you see that baby smooth suntanned face? Did you see Nancy Pelosi beaming at him, when he spoke? I have not seen such beaming, since Merkel met Obama or Merkel met Putin. Or Trudeau met Obama. General Milley was all smiles at SOTUS. And the clapping. The Democrat law makers were happy clappy.
This is what happens when you do not take on a problem head on.
If the US loses reserve currency status there are good points. Democrats cannot print money. If you point out that it might destroy things, well democrats already are. When the fly people from the border to anywhere USA by the thousands, then the Democrats are intent in destroying the US. It is happening so faster does a little faster or slower matter?
How fast are the Democrats destroying the US
Father-of-two is killed in road rage attack in Chicago: 46-year-old victim is shot in the stomach after reaching through another vehicle's window
"The driver of the white Ford, whose name hasn't yet been shared by police to the public, was arrested on Monday. "
Often when they do not release names, the person is not white. My second thought was that the shooter is an illegal. Mattison did reach into the car. Was it to push the gun away? The windows of the white sedan are very darkly tinted. Tinted windows are more and more popular. It might be a matter of light quality, but those windows are heavily tinted which usually means a certain age group or ... The deceased was driving a work truck. Was he looking for the address of the next service call. At any rate I keep thinking illegal gang banger and I am told to fear monetary collapse. Collapse is already here.
FJB
'Putin has no idea what's coming': Biden says Vlad is 'more isolated than ever' after he met Ukrainian 'wall of strength he never imagined', tells oligarchs 'we're coming for you' and bans Russian planes from US airspace
Biden: 'Putin has no idea what's coming'
Neither does Biden
Biden: 'more isolated than ever'
Outside of Europe what support does the USA have? What if we line up # of countries, GDP and populations that support both Russia and the US?
Can the US count on India, Indonesia, Pakistan? These are all huge countries in terms of people and some of them land area. Does Biden know WTF he is talking about?
Biden: 'wall of strength he never imagined'
Kharkov falls by Thursday.
Kyev falls around Sunday.
The Ukrainians are putting up more resistance than Putin imagined, but the eastern half of the country is getting crushed. The speech writers and staff had joe utter the words "wall of strength", because they thought focus group liked it and it gave an excuse for Democrat leaders to happy clap.
Biden: "we're coming for you"
The mother of all lies. But what of it. After all the other lies it is the cherry on top.
A panelist at Newsmax opined before SOTUS that Joe is not a centrist. He believes that Joe is whatever the party is. If the Party is centrist, then Joe is centrist. If the Party is hard left, then Joe is hard left. It does not so much good about the character or intelligence of Joe Biden.
According to a review of filings with the Federal Election Commission, the agency with jurisdiction over campaign finance law, Trump has over the last six years posted a 43-0 record in cases referred for possible violations.
And the single reason that the FEC has never acted is because none of the agency’s three Republican commissioners have ever voted against Trump.
U.S. Senate candidate Herschel Walker pulled out of a weekend event organized by U.S. Rep. Marjorie Taylor Greene after she spoke at a white nationalist rally where attendees cheered Russia’s invasion of Ukraine and chanted Vladimir Putin’s name.
Walker had planned to speak Saturday at Greene’s “Second Amendment and Freedom Rally” in Rome alongside U.S. Rep. Matt Gaetz, strategist Stephen Bannon and other far-right figures.
But his campaign told The Atlanta Journal-Constitution on Tuesday that he will no longer participate in the rally, which was to promote a gun rights expansion in Georgia. His campaign spokeswoman offered no additional comment.
Other Republicans, including former U.S. Sen. David Perdue, said they still plan to attend.
tired of winning Anon?
Poor 8:53 still copying and pasting. If their penmanship was good they would have made a good monk or priest.
Good post. US policy toward Russia here is based on assumptions that the war is not going as Russia wants and will not go how Russia wants. The current unprecedented unity in support of Ukraine and in opposition to Russia among our western European allies is going to last and that this is sufficient. The rest of the world will either work with us in standing up to Russia or stay neutral.
Assuming the assumptions put forth by our Intelligence personnel and other so called experts are accurate then the policies may be sound and reasonable. If the assumptions are inaccurate, this likeky ends in unmitigated disaster for us. Unfortunately these people don't have stellar track records.
. Unfortunately these people don't have stellar track records.
wrongl. they knew every move Putin was planning
I’m writing from Paraguay.
We export meat, pork & poultry to Russia. We’re already having problems cashing 30mm U$ from last shipments but now with Maersk out of the maritime route we got stuck.
The problems will be solve thru Arab banks and Asian maritime companies but it will take some time.
Now watching our diplomatic representatives doing the walking out at UN, knowing that the economic warfare will be hurting our own economy, sucks.
This new type of cancel culture is disgusting.
As always politicians are disconnected front reality.
Anything woke turn to shit!!
https://tradingeconomics.com/paraguay/exports/russia
Without economic war, we would already have peer to peer war.
Russia would be invading Poland in the near future. The Bear would only get bigger from there.
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