Posted on 04/20/2022 6:18:16 PM PDT by marcusmaximus
Russia's attempt to pay for two of its dollar bonds using rubles was deemed a potential default scenario by a derivatives industry watchdog on Wednesday, bringing the country to the brink of its first default in a century.
The Credit Derivatives Determinations Committee — a panel within the The International Swap and Derivatives Association — ruled that a "potential failure to pay" event had occurred, Reuters first reported. It is still possible for Russia to avoid a default if it manages to pay bondholders using dollars before a one-month grace period ends on May 4.
Russia has become increasingly cut off from global financial markets since invading Ukraine. Western nations have banded together to impose stringent sanctions on the country, including freezing roughly half of its $640 billion in foreign reserves.
(Excerpt) Read more at markets.businessinsider.com ...
They shouldn’t accept the payment, even if made in dollars or gold.
Keep pushing retards.
They shouldn’t accept the payment, even if made in dollars or gold.
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Hmmmm….Russia lacks nothing, food, grains, wheat, meat ( pork is the favorite there), chicken, oil, NG, diesel, energy of all kinds, metals, commodities.
The EU and US is effected by Vegetable Joe’s sanctions, Russia’s reverse sanctions, dethroned dollar, food shortages, NG shortages, energy shortages, metals shortages, …..think hard about that.
Oh yeah land of milk and honey! Everybody wants in to this paradise!
Russians are used to suffering. They can suffer far longer, and greater, than the West.
It’s also a global economy. Do you think only Russia would be affected?
They can’t, and some douche bags here are looking to start WWIII.
Only 50% of their reserves have been frozen. They have dollars to pay. Putin is just playing games like a typical deadbeat.
The Chicoms, unfortunately, will bail them out (and own them for decades).
fixed it
“Russians are used to suffering. They can suffer far longer, and greater, than the West.”
That’s very true.
The people who own the bonds are going to sue the government. Barnes thinks they can win if they don’t get crooked judges, and that’s a big IF.
Yep suffer because of their own stupidity.
Israel adds China’s yuan for the first time ever while cutting its dollar holdings in biggest currency reshuffle in a decade
https://finance.yahoo.com/news/israel-adds-chinas-yuan-first-133259326.html?fr=sycsrp_catchall
U.S Treasure market is plagued with illiquidity
https://www.marketwatch.com/story/u-s-treasurys-market-continues-to-be-plagued-with-illiquidity-as-feds-rate-hike-cycle-begins-11648226371?siteid=yhoof2
Don’t you think it is connected and what are the long-term consequences?
Basically Russia should be forced to default, even if they appeared with 1,000x the debt payment in Dollars. Any money collected should go to help pay for higher energy costs, and to help Ukraine.
And the same thing should be done to China and ALL CSTO countries.
I wonder why it is suffering when the bank refuses to accept the check you signed to cover the mortgage payment? You laugh and spend your money on something else.
That’s stealing. We shouldn’t do it even if the Russians are being thugs.
“Israel adds China’s yuan for the first time ever while cutting its dollar holdings in biggest currency reshuffle in a decade”
OH NOES!!! THE DOLLAR IS DOOMED, Irael is now holding 2% in yuan and ONLY 61% in US dollars.
The US Government illegally stole 650 billion from them. So you get Rubles sport....or nothing.
A default is a “so what”. It’s not like it’s going back to normal for decades no matter how this war turns out.
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