Posted on 12/16/2014 5:42:31 PM PST by Kartographer
As Zero Hedge first reported today, shortly before noon one (and subsequently more) FX brokers advised clients that any existing Ruble positions would be forcibly closed out because "western banks have stopped pricing USDRUB", over concerns of Russian capital controls. Ironically, it was this forced liquidation of mostly short RUB positions that pushed the RUB higher, which in turn had a briefly favorably impact on energy commodities and risk assets, as the market had by then perceived the Ruble selloff as excessive. Of course, since nothing had actually changed aside from a temporary market technical, the selloff promptly resumed into the close of trading once the market finally understood what we had explained hours previously.
And unfortunately for the bulls, various falling knife-catchers, and those who hope the Russian situation will stabilize imminently with or without capital controls, it appears things in Russia are about to get a whole lot worse because as the WSJ reports, the next driver of the Russian crisis is likely to come from within the banking system itself because "global banks are curtailing the flow of cash to Russian entities, a response to the ruble’s sharpest selloff since the 1998 financial crisis."
(Excerpt) Read more at zerohedge.com ...
Absolutely nothing about real products and real services to real people. Nothing about supply outstripping demand or unable to meet it.
So the real world gets to go into a massive gut-wrenching depression that could result in the deaths of thousands of people because of the virtual reality world of modern banking.
Talk about the tail wagging the dog.
Meanwhile, the Norwegian Krone took the collateral damage today, as naked short traders used it as a “proxy currency” to cover their positions.
Didn’t china cash out some treasuries a few days ago?
If Reagan was in office, right about now he would call Putin and tell him he is either out of Ukraine and Crimea in 24 hours or the US is going to grant more oil leases and fast track Keystone.
Starving the Russian bear is extremely interesting. They can’t much survive if the ruble is not convertible.
Look for internal collapse.....
Are they nuts? No, chickensoup, they are evil.
I feel for the Russian people.
Exactly.
Never let a crisis go to waste.
Crimea, from where they have been since about the 1790s. Yeahhhhh,,,,, that’s just what Reagan would do sparky.
If Reagan was in office, right about now he would call Putin and tell him he is either out of Ukraine and Crimea in 24 hours or the US is going to grant more oil leases and fast track Keystone.
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Actually it is none of our business.
Yep. This will be the trigger. Expect Putin to skip over ukraine and shoot for poland. His time is up so he will start settling old scores. He knows it over and his ego will not let him go quietly. And we are stuck with dumbass obama and kerry. We won’t come out of this alive. Probably why we are not mentioned in end times prophecy. Expect a sneak nuclear attack by the ruskies within the next three months. They will launch everything they have at us.
Missile against whom? Citibank?
Putin is a thief.
Not an end of times madman.
dang, I’m asking for a rider on insurance policies and leaving for a safer place.
A cornered dog with nothing left to lose is a fierce thing. A cornered Bear is even worse.
“If Reagan was in office, right about now he would call Putin and tell him he is either out of Ukraine and Crimea in 24 hours or the US is going to grant more oil leases and fast track Keystone.”
Then Riddle me this Batman,, why DIDN’T Reagan do that. It was a Russian outpost and Navy base in the 80s. Besides, Reagan would have already fast tracked Keystone.
Russia is no longer a superpower save for its nuclear arsenal. That puke Putin must learn that there are consequences for his actions.
Saudi Arabia’s oil war against Iran and Russia
http://www.freerepublic.com/focus/f-news/3237849/posts
LOL. Tinfoil hat time.
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