Russia heading for crash as ruble plummets

money.cnn.com ^ | December 15, 2014 | Mark Thompson

[Berlin_Freeper]

Russia's economy is crashing and its currency appears to be in free fall.

The ruble plunged by about 12% Monday, meaning it's lost nearly 50% against the dollar this year. Early Tuesday in Russia, the central bank hiked its key interest rate for a sixth time this year to 17% from 10.5%.

[Paladin2]

When is oil going to be priced in Rubles?

[Berlin_Freeper]

Russian rouble plummets after US Congress passes tough sanctions bill

Dems, GOP Press Obama to Back Russian Sanctions

[willywill]

if we’re borrowing a trillion a year with no intention and no ability to pay it off, does anyone think this is not our future?

[Steely Tom]

I remember when Iran was making all kinds of noise about how it was no longer going to price oil in US dollars. Seems like it was only yesterday.

[central_va]

You don’t get it. We just have to suck slightly less then everyone else.

[ansel12]

It sure is going to be hard to build all those Aircraft Carriers and Army Divisions, build an Air Force to dominate the skies against the United States, France, Britain, Germany, and the other 24 NATO nations, and equip their 1 year draftees with futuristic Star Wars weapons, if this keeps up.

[gingerbread]

This reminds me of what happened in the 1930’s. Unfortunately, you haven’t heard the end of the new Russian TZAR, Mr Putin. If he has to protect his place in the Russian higher archy, he will start a war somewhere, in all probability, in the Middle East. A war in the Middle East will jack up the oil prices all over the world.

[dasboot]

Uncomfortable deja vous. Prelude to....and pretext for...
war. And obam owns it.

[Berlin_Freeper]

Denmark challenges Russia

[Vermont Lt]

I dont think Russia has nearly the debt we have.

Of course, their oil revenues are getting slaughtered.

I am almost always glad I don’t live in Russia. Today I am even happier I am not there.

[Berlin_Freeper]

Population - October 2014 estimate 5,655,750

[ImJustAnotherOkie]

All this recent hubbub is becoming clear, it always works like that. Ivan will have a Futile and Stupid Gesture in the works and send in the tanks.

[FredZarguna]

It's almost 2:00 AM in Москва, so the [all]wetphony won't be getting his instructions for a few hours yet. He will soon explain how a plummeting ruble is actually a great "buy opportunity" for Western investment when he gets up.

[freedumb2003]

Denmark challenges Russia

From that source:

“but the North Pole itself is unlikely to have much oil or gas beneath its deep waters.

But above it is the world’s biggest toy factory that makes wooden trains and hobby horses and stuff! And slave labor that looks like kids but are Little People! And some fat dude who runs the whole shebang!

Cue Raging Rudolph: https://www.youtube.com/watch?v=icjh6wGUUfE

[truth_seeker]

“It sure is going to be hard to build all those Aircraft Carriers and Army Divisions, build an Air Force to dominate the skies against the United States, France, Britain, Germany, and the other 24 NATO nations, and equip their 1 year draftees with futuristic Star Wars weapons, if this keeps up.”

Is this deja vu, all over again?

[FredZarguna]

Russia's economy is now roughly the size of Spain's. Interest rates are nearing 20%, which, with a sharply devaluing currency will lead to a catastrophic liquidity crisis soon. Worse yet, they make nearly nothing. All of their income and potential growth come from selling off their natural resources, the prices for which are still falling.

Today is not a good day to be in Russia, and tomorrow is going to be a lot worse.

[Berlin_Freeper]

or standing in line at the locked bank doors.

[FredZarguna]

I believe he takes his marching orders first, then attends to personal business.

[Gritty]

It’s time for Putin to send in more tanks.