Posted on 02/03/2015 5:12:38 AM PST by elhombrelibre
The Russian central bank's rate drop last week will not be enough to prevent the country's banking system from posting heavy losses this year, which could run to as much as 1 trillion rubles ($14.5 billion; £9.6 billion).
Research from the ratings agency Moody's indicates that Russian banks are struggling to contain cost increases following the surprise 650 basis point interest rate hike by the central bank last month, to 17%. Although the Bank of Russia reduced rates to 15% last week in an effort to ease pressure on the banking system, these measures are unlikely to be enough to reverse the trend.
Moody's writes:
" We estimate that the sector’s aggregate net loss will be around RUB1 trillion in 2015, compared with net profits of RUB600 billion in 2014 and net profits of RUB1 trillion in 2013."
(Excerpt) Read more at finance.yahoo.com ...
So that’s what, a couple of million in real money?
/s
Historically, countries will not go to war if they can achieve their goals through economic or diplomatic methods.
Russia is being boxed into a corner economically. As the pain grows, so will the temptation to strike at what Russia perceives to be causing the pain. If the pain becomes great enough, the possible retaliatory actions of a desperate Russia will become unpredictable.
Russia and China are now becoming very close. China will increase the amount of Oil they buy from Russia. India looks to be joining China and Russia.
So basically you have Asia (Russia and China)vs. Europe and North America.
Now you know the real reason why all of Sudden the U.S. wants to be friends with North Korea. Go to the Drudge Report. It's front and center news at this time about 9am EST.
Absolutely!
Putin isn’t about to let his country sink into obscurity and depression over economic warfare.
A lot of this is prophetic actually.
Roman,
I agree on the prophetic angle.
You may have seen this before, but I am posting it here again for you convenience. This article and accompanying spreadsheet lays out a timeline that I believe fits prophetic scriptures without any contradiction.
https://unsealedprophecy.wordpress.com/2014/11/24/psalm-83-war-september-2015/
Blessings to you in your investigations and studies.
Yes I’m very familiar with Psalm 83 and Ezekiel 38.
Interesting that this link thinks it will happen in September this year because of the Jewish Shmita.
Some folks are calling for a HUGE (bigger than 2008 by far) economic downfall by 9/13/2015 because of it. Maybe Psalm 83 happens prior and triggers it? Or perhaps it triggers Psalm 83?
Check the stats, the volume of China’s trade with Europe and US is nearly 20 times bigger then that with Russia.
Right now it is but it will be changing.
http://www.forbes.com/sites/kenrapoza/2013/06/22/russia-inks-big-china-oil-deal/
and
and
http://rt.com/business/225687-saudi-oil-china-russia/
Come on, that “huge 25 year oil deal” is worth barely more than annual Chinese trade with Germany.
I see this often, but just don’t understand why people would believe in Sino-Russian alliance.
If such alignment was to take place, it would automatically delegate Russia to a junior partner role, which is unacceptable to a country that still fancies itself a superpower, Moscow - “Third Rome” and all. Russians think that Chinese want to take Siberia and Far East from them (a fair concern). Last time Russia was conquered it was from the Mongols in the East and racial memory of that is still there.
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