Posted on 12/16/2014 1:37:17 AM PST by elhombrelibre
The ruble collapsed by 10 percent against the U.S. dollar Monday earning the Russian currency the dubious laurels of the world’s worst-performing currency this year.
The Russian currency has now fallen 49.3 percent against the greenback since January, according to data from the Moscow Exchange. The drop takes it below the Ukrainian hryvna, which has weakened 47.9 percent in 2014.
Monday’s plunge was the largest single-day fall for the ruble since the financial crisis of 1998 when Russia was forced to default on its debt after exhausting its reserves in a fruitless bid to prop up the currency.
In evening trading Monday the ruble was worth 64.4 against the dollar and 78.8 versus the euro. The currency earlier dropped past 100 rubles to the British pound.
(Excerpt) Read more at themoscowtimes.com ...
Russian Ruble Under Pressure Despite Rate Rise
http://www.wsj.com/articles/russian-ruble-rallies-after-interest-rate-rise-1418715476
Read 'em and weep, Putinistas and pro-Putin punks supporting President for Life Putin in Putinstan.
https://uk.finance.yahoo.com/news/ruble-plumbs-low-despite-emergency-093725086.html
Well, he sure bungled the dethroning the dollar. Not sure what the Chinese can do with Rubles now either...
“Not sure what the Chinese can do with Rubles now”
Read an article yesterday about a Chinese power plant that burns currency as a fuel, might be a catching trend.
Huh - Look at all the mice quietly scurrying back to the $ that were so adamant that a new world order was upon us and that we were not the stable rock they could rely on.
</sarc>
Well, a limited war should fix that right up!
Whoever suggested tying all those deals with Rubles is going to be donating both kidneys....
You don’t hear too much from the Wall Street wags lately about how America is passe and how it’s all about the BRICs now?
True.
Maybe the old Maoist guard is going to look more and more stupid.
I wish China followed the path of Israel, ie. completely independent from the Soviet.
China and Russia are neighbors and therefore trading pardners.
The Maoist guard was, or is being, replaced by the Chicaps. The Chicaps have entered the world trade arena in a big way. The Chicaps are developing far beyond the unthinkable dreams of the old line Chicoms.
The incredible thing is that Russia was given the same opportunities and trashed them. The Russians took the Western investment and essentially stole it for the benefit of the thieves alone. The Chinese took the opportunities and are building on them. They have grown their economy
BOL! Hi old friend. I have been using the term ChiComs for over 5 decades.
About two years ago, I started using ChiComCaps, to describe the very wealthy ones buying million $ plus homes in the north Bay area and the Sillycon Valley area.
Maybe I should just call them ChiCaps as per your wording:
“The Maoist guard was, or is being, replaced by the Chicaps. The Chicaps have entered the world trade arena in a big way. The Chicaps are developing far beyond the unthinkable dreams of the old line Chicoms.”
Iran needs 135/barrel to break even! Boy are they stupid! I couldn’t think of better list of countries to have bad things happen to. Although I do kind of feel bad for Iraq. You know, since 4,000 Americans died to help that country.
Wiemar Republic-ish.
fasten your seat belts, folks. It’s going to be a bumpy Century.
The Chinese economy is falling apart. Lowest factory orders in a decade. Low energy demand from China is part of this equation, and so is the unrest in Hong Kong.
So does this mean I can get me a Russian mail-order bride at a discount if I pay in dollars?
I smell Gog and Magog coming down the road!!! Russia and her Persian pals are going to be in bad shape. Then to get out of that hole they are going to attack Israel for those oil and gas reserves.
True
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.