THAT'S gonna leave a mark... 
Posted on 03/12/2022 6:37:12 AM PST by marcusmaximus
The cost of Russia's invasion of Ukraine will become a lot clearer this week, with a previously unthinkable sovereign default looming, more emergency central bank measures likely and a stock market crash guaranteed if it reopens.
Moscow's "special operation" in its former Soviet neighbour has cut Russia off from key parts of the global financial markets by the West, triggering its worst economic crisis since the 1991 fall of the Soviet Union.
Wednesday could mark another low. The government is due to pay $117 million on two of its dollar-denominated bonds. But it has been signalling it will not, or if its does it will be in roubles, tantamount to a default.
Technically it has a 30-day grace period, but that is a minor point. If it happens it would represent its first international default since the Bolshevik revolution over a century ago.
(Excerpt) Read more at money.usnews.com ...
Fantasic, then drop out of this one.
“Russian debt is not that big in the grand scheme of things.”
That is a true statement.
The problem is it may not matter—the financial system is an incredibly complex house of cards—it will not take much for chaos theory to kick in....
To be precise, Russian debt is ~$57 billion vs $640 billion in reserves.
The article is a bunch of baloney. If there is a “default” it would be purely technical due to blocking of the transactions by sanctions. Debt holders need to sue their governments for slapping sanctions to start with.
If I was the central bank I wouldn’t hold my breath.
You drama queen killjoy. In other news, in 2021, the US spent 109 BILLION on their pets, twice as much as Russia debt outstanding.
LOL. My point precisely.
I actually thought that was supposed to happen on the 11th!
So 16th now....it will be interesting.
The FED was monetizing 120 BILLION of bonds EACH MONTH up up until November of last year when they started tapering that amount down. The central banks of the US and the EU hover over 40 TRILLION OF GDP. 57 billion is meh.
Russia just announced they’re keeping their stock market shut for all of next week. So it looks like they’re going to go forward with their sovereign debt default on Wednesday. Not since the Bolshevik Revolution in 1917. Poor Pootie-Poot.
I have a friend who has Imperial Russian railraod bonds. (Collector’s item!). They’re quite beautifully done a real art form. I doubt if Pootie-World bonds are as nice. (Even if they exist in paper form!)
Russia and China were the source of the fantasy climate change idea which weakens the west and strengthens them. It was brilliant on their part. And the western governments were so stupid (or evil) to fall for it.
THAT'S gonna leave a mark...
Within the last three weeks, one western government [Canada] decided that it was going to freeze the bank accounts of "dissidents" - without identifying ALL the true dissidents first.
The smart people in Canada removed their money from the reach of the Canadian government. This caused bank runs that were hushed up by the Media and social media.
They happened, and continue to happen, nonetheless.
So, STUPID first and foremost, evil a distant second.
footnote: the suckers in Canada who believe in "climate change" are undoubtedly much of the same subset of stupid people who left their money within reach of the Canadian government in the banks...
It will be interesting to see the posts of the Putin-hatin' Brigade when they realize the extent of the financial box canyon the WEF/NWO has them trapped in.
11th was a turn to gold backed ruble.
Ahh!
Interesting!
Did this result in a new ruble, a reduction in the number of rubles circulating like 10 rubles are now one ruble?
Probably too soon to know the full ramification.
I would estimate that over 1/2 of the threads on FR have one or more posts that are overly dramatic, if someone gets mad about that and responds with insults to the person, that’s all they would be doing all day long.
The point is, FR is full of people with very strong opinions on things, that’s part of the beauty of the place, you have to let it go versus hurling insults.
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You know, I've been on here struggling against the Schwab WEF propaganda [since it flipped from Canadian Truckers Bad to Russian Man Bad], but I see where this thing is going.
We're going to end up with another Free Republic bloodbath/purge, and we're going to lose good freepers on both sides, and donations that should be keeping this place running.
I think that I'm just going to throttle back posting on this cr@p, no matter how outrageous the pro-Ukraine agitprop gets.
I have other interests on here that I can tend to. The Left is rubbing its hands over this FR schism like Pelosi at the State of the Huggies.
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addendum: I don't know if you remember the FR illegal immigration fight long ago, or the FR primary wars of 2016, and how divisive those got.
Maybe we should just let the people on FR spouting the Schwab WEF line have their way.
Many of them are just old Cold Warriors, and apparently see no connection between cancelling the Canadian truckers three weeks ago, and cancelling the Russians today.
I'm not going to change their mind.
I know what you mean. I lost longtime friends over the 2016 election, I was not a Trump Fan initially, but the more you listened to him and ignored the bravado the more you realized he was right.
The Milton Friedman disciples were apoplectic over Trump saying anything negative about FREE TRADE as if it was the Holy Grail, most were Ted Cruz fans who were convince Trump could not win the election.
It’s the same in all areas, I was a computer engineer in my working career, my hobbies are shooting guns, grilling and ham radio. Without exception on Facebook, FR, or any other forum there is always a group of people who are the “EXPERTS”, telling everyone they are stupid and they have all the answers.
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