Posted on 10/06/2014 9:04:43 AM PDT by Alter Kaker
MOSCOW, Oct. 6 (UPI) -- The value of the Russian ruble hit a historic low Monday when compared with U.S. and European currencies, the Russian Central Bank said. It took just over 40 rubles to buy one U.S. dollar, or just over 50 rubles to buy a euro, in Monday trading, the bank said.
The bank said last week it was struggling to keep Russian inflation in check because of U.S. and European sanctions on Russian energy companies. Sanctions were imposed earlier this year because of Russian policies in eastern Ukraine, where pro-Kremlin rebels are fighting for more authority.
Exports of crude oil, petroleum products and natural gas account for nearly 70 of all Russian export revenues in 2013. The World Bank finds Russia's export-based economy leaves it vulnerable to geopolitical tensions.
Victoria Nuland, U.S. assistant secretary of state for the Bureau of European and Eurasian Affairs, said last week sanctions "can and will" be rolled back provided Russia respects Ukraine's sovereignty.
Nuland left Sunday for Kiev to discuss the status of the conflict in eastern Ukraine.
“when the Dollar falls it is just a “Market Correction” when the Ruble falls it is nothing but bad news apparently...” — Lol. Waiting for China to pull the plug as the biggest U.S. creditor. They won’t, not yet. But we all know what they say about a creditor.
What a fragile economy the Thieves’ Guild of Russia has made.
Russia has developed an economy based not on merit, but on cunning, audacity and cruelty. There is only a rule of power, no rule of law in Russia.
Putin is riding Russia’s slide into the abyss.
Install missile defense in Poland, here at home and Japan and that ends.
You mean they have income inequality in Russia? What about North Korea?
I see what you did there! :-D
The Russkies have been preparing their people for nuclear war for awhile, not just physically, but mentally, with non-stop anti-American propaganda. Nuclear war may just be what the Russkies actually want.
Too many Freepers forget just who it is we’re dealing with here: communists-the absolute masters of propaganda.
Should things get bad enough there economically they’ll soon be whipping their hungry masses into a war frenzy.
Just like our jug-eared scumbag and minions in the WH-use whatever it takes to take the focus off their own failures...
IMO, Russian government is in firm control of this situation. That is probably the reason why they do allow a crisis in Ukraine to unfold this way which might look incompetent on a first sight.
A 2012 elections wasn’t all that easy for United Russia majority party as they were countered by massive waves of leftist agitation.
In order to defuse it the government made numerous costly promises and all these government projects, pensions, benefits raises are now a burden the budget can’t work with.
Backing off by cutting benefits would cause another leftist unrest and the ruble devaluation is quite a solution.
Foreign policy situation plays on hand too. They can deflect domestic criticism on economy blaming American and EU sanctions.
Russia should be subjected to the same sanctions regime that Iran faces, including the prohibition of US and EU citizens traveling there for vacation.
The Chinese Yuan has also taken some hits recently.
Lol. That ends what? You think the Russians would be kind enough to send one or two ICBMs at a time? What happens when they send 50 or 100 at a time? The Patriot Missile defense is good, but not 100 percent good. It can’t stop them all. Schmissle defense.
If Putin were retarded enough to go nuclear, launching full volleys of nukes would destroy not just us, but pretty much ALL of Human civilization, including Russia! In my opinion, The Cold War MAD doctrine is dead and so is the mass nuclear volley concept. This is because every civilized nation knows that volley-fire would ensure the world’s demise. Also, no single nation wants to be the first to go nuclear because that makes them an immediate target. So if nuclear weapons have a future in warfare, then they will be used just for EMP’s and last ditch strikes (like Hiroshima and Nagasaki). Its more likely that the next big conventional war will stay conventional for some time, if not entirely. Putin and Russia’s pride may get hurt, but they aren’t suicidal, NATO wins every conventional scenario.
Putin and China may be imperialist, but this is NOT the Cold War.
“Nuclear war may just be what the Russkies actually want.”
Do you actually believe this nonsense?
~The Chinese Yuan has also taken some hits recently.~
It is a blessing for them as they are an export economy. Weaker Yuan is also a hit on a middle class which is plausible for a communist elites.
“The ruble has been on a downward trajectory all year:”
1 year graph:
http://www.xe.com/currencycharts/?from=usd&to=rub&view=1Y
and the http://www.oil-price.net/
When it is under about $125 the Russian budget is negative.
I’d rather live with a fighting chance. Give me missile defense, give me a gun.
But, hey, that’s me. I’m a freedom-loving patriot and will RESIST TYRANNY at all costs, until my last dying breath and not a pro-Putin, surrender monkey.
Good. It is time to teach that punk Putin a lesson. Russia is no superpower. It is a gas station pretending to be a country.
Yum, cheap Oil at the expense of the Ruuskies.
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