Posted on 03/06/2022 2:29:31 PM PST by marcusmaximus
Russia said on Sunday that sovereign bond payments will depend on sanctions imposed by the West over the invasion of Ukraine, raising the spectre of its first major default on foreign bonds since the years following the 1917 Bolshevik revolution.
(Excerpt) Read more at reuters.com ...
Russian debt now rated 'junk'
Let’s Go Brandon!
Anybody who bought the bonds of Russia and many of the kleptocrat countries know the risk they are taking in doing so.
He is using the argument:
“I can’t pay my taxes if you lock me up for tax evasion.”
Yup, it like buying junk bonds from a dodgy company. If you’re shocked they went kaput, then buying them was not for you in the first place.
But maybe the Biden admin is corrupt enough to bail the bonder holders...
I don't know if it's true, partially true or not at all.
Nonetheless, there's probably people who had investments in Russian companies that they didn't even know about, considering that many people pay professionals to manage their investments.
The sanctions hurt the government. That’s a good thing.
Russian bonds are about 1% of the global bond market. Some folk may lose money, but the overall effect on the system will be small.
March 16 will be the default date for Russia’s sovereign debt.
Less than two weeks away...
raising the spectre of its first major default on foreign bonds since the years following the 1917 Bolshevik revolution.
Have you ever wondered what happened to all the debt and assets of the Soviet Union?
Assets was easy. Each satellite country claimed all the physical assets in their borders. including military assets. Each satellite also assumed the liability for the pension plans of their citizens.
Surprisingly Russia assumed all of the Soviet debt. They were pretty smart. What do you do with debt? You leverage it. They turned it into cash. We will cancel ALL the debt at one time and cause world chaos, or we can keep in on the books for awhile if you advance us some cash.
This was smart/sarc
The retirement system had invested $15.6 million in Russia’s Sberbank, beginning in March 2017, and sold its shares for $12.4 million on Feb. 23, the statement said.
looks like the teachers got taught a lesson...
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