Russia risks Soviet-style collapse as rouble defence fails

Daily Telegraph ^ | Ambrose Evans-Pritchard

[elhombrelibre]

Russia has lost control of its economy and may be forced to impose Soviet-style exchange controls after "shock and awe" action by the central bank failed to stem the collapse of the rouble.

“The situation is critical,” said the central bank’s vice-chairman, Sergei Shvetsov. “What is happening is a nightmare that we could not even have imagined a year ago."

[elhombrelibre]

"After years of bluster and suggestions by Mr Putin that the US is a paper tiger, the Kremlin is now coming face to face with the cataclysmic consequences of what it has done by invading Ukraine and changing Europe's borders by force."

[Dog]

Thank god for cheap oil...:-)

[Dog]

I do have some concern Putin lashes out.

[Bon mots]

A cornered bear can be dangerous.

News showing tanks on the move... Putin is a megalomaniac.

[Bon mots]

Need I remind anyone...

[Dog]

What ...where?

[Steely Tom]

Will Putin starve the population to keep his Bears in the air?

[yldstrk]

The Russians should shift to a market economy

[Teacher317]

Putin will not put up with the Saudi's cheap oil play for long. He cannot afford it.

(The Saudi's are flooding the market to lower prices to help slow down the US exploration and use of shale and oil sands, which are currently only viable over $60-70/barrel.)

[PghBaldy]

Today?

[McGruff]

Well I guess we can expect EuroMaiden like riots in Moscow any day. /sarc

[nathanbedford]

The currency crashed to 100 against the euro in the biggest one-day drop

It's difficult to tell where the ruble is this minute, it is undoubtedly exceedingly volatile and might well depend on with whom you are dealing and your own credibility.

But it does look like my source in Moscow was right.

[Cowboy Bob]

If you want to see the official rate, go to www.yandex.ru

It’s posted on the homepage.

[DugwayDuke]

“(The Saudi’s are flooding the market to lower prices to help slow down the US exploration and use of shale and oil sands, which are currently only viable over $60-70/barrel.)”

There are lots of reasons for the Saudi actions. One maybe a re-enactment of Saudi actions in the 1980s to cause the downfall of the Soviet Empire by forcing a huge drop in the price of oil. The Saudi target might also be Iran or the rest of OPEC.

In any event, if you’re correct that the target is US shale oil, then $60 per barrel becomes a ceiling for oil prices.

[Old Teufel Hunden]

"The measures include $350m of military assistance to Ukraine, and authorize Mr Obama to impose curbs on energy companies investing in Russia, as well as to prohibit credit to Gazprom. "

This bill may be a blessing in disguise to American Banks and Energy companies. I can see at some point Putin attempting to nationalize foreign owned companies if he gets pushed too far. All foreign investors would be wise to pull all their assets out of Russia right now. I hope my mutual funds are doing that....

[blam]

Russia Is Throwing The Kitchen Sink At The Ruble To Try To Stop Its Collapse

[nathanbedford]

Thanks.

[I want the USA back]

One communist tactic is to destabilize the civil order, then use the confusion to rush in and establish a new form of government.
Watch carefully to see if this is happening in Russia.

[Bon mots]

Yesterday in Kaliningrad
(Between Poland and Lithuania)
http://rt.com/news/214667-russia-drills-kaliningrad-region/

http://www.dailymail.co.uk/news/article-2875178/How-Russia-bolstering-arsenal-amid-tensions-West-Fighter-jets-tanks-missiles-new-nuclear-submarine-Kremlin-s-shopping-list-military-spending-rises-85-five-years.html

http://rt.com/news/213747-latvia-us-armored-vehicles/

Abrams tanks in Poland:
http://wiadomosci.onet.pl/szczecin/slynne-czolgi-abrams-w-polsce-tak-cwicza-zolnierze-usa/c7q4g

Russian tanks in Donbas
http://wiadomosci.onet.pl/swiat/rosja-przerzuca-czolgi-do-donbasu/zbx6n

Russian tanks immune to Polish anti-tank rounds:
http://biznes.gazetaprawna.pl/artykuly/838800,kupimy-pociski-do-czolgow-leopard-za-240-mln-zlotych-zaden-z-nich-nie-przebije-pancerza-rosyjskich-maszyn.html

Poland buys better Leopard Tank rounds:
http://biznes.gazetaprawna.pl/artykuly/838800,kupimy-pociski-do-czolgow-leopard-za-240-mln-zlotych-zaden-z-nich-nie-przebije-pancerza-rosyjskich-maszyn.html

[Buckeye McFrog]

The Libs are using the coincidental collapse in oil prices to claim that Obama’s foreign policy is ACTUALLY WORKING!!

feh!