There is a known $41 billion in Credit Default Swaps (CDS) on Russian debt

Wall Street on Parade ^ | 7 Mar 2022 | Pam Martens

[delta7]

Senile Joe shoots himself ( and us) in the foot- again.

[montag813]

Yep. We are going down. Hard. Prepare yourselves.

[PeterPrinciple]

I have posted before.

Ever wonder what happened to all the Soviet union debt?

[oblomov]

Note that “Russia” is, for leftists, just a proxy for their domestic political adversaries.

Their ultimate targets for sanctions and pressuring multinational corps to block access to certain people is “Americans who support Trump”.

[oblomov]

They defaulted, in ‘98.

[moehoward]

“Put it all together and you have the makings of a replay of the 2008 banking crisis when banks backed away from lending to each other because they didn’t know who would fall next from toxic subprime exposure.”

Charming.

[Antoninus]

It's almost like our leaders don't have a clue...or they know exactly what they're doing and are just that evil.

Interesting times.

[HighSierra5]

Pukin will come out on top of these economic sanctions.

[xp38]

100 billion? pffft I gots 30 trillion that has no hope of being repaid over here somewhere.

[one guy in new jersey]

Without Big Macs and Pumpkin Spice Lattes, though, will he view his efforts as being worthwhile?

[combat_boots]

Yup

I look at this now as theater

We’re in a war game

Being fierce, we’re the Montanyards

[Fido969]

They defaulted, in ‘98

Killjoy.

[babble-on]

Derivatives are only as useful as the counterparties are solvent.

[Track9]

Is this a giant debt canceling scheme? Seems like the ruble is a good buy these days.

[Mouton]

Paging Michael Lewis, pick up the white courtesy phone.

[outofsalt]

Democrats will declare it a student loan debt and forgive it if Russia will vote democrat in November.

[fhayek]

Yeah $41 billion? The Fed can print that up in the basement overnight.

I still don't understant why people do CDS's. It's like co-signing for your deadbeat brother-in-law and he buys you a six pack of beer in return.

[PeterPrinciple]

They defaulted, in ‘98.

---

Russia assumed all the soviet union debt. Now why would they do that?

[cgbg]

“It’s like co-signing for your deadbeat brother-in-law and he buys you a six pack of beer in return.”

The beer tastes good, and you know Uncle Joe will bail you out because you are too big to fail.

[G Larry]

Can the U.S. trade our debt for Russia's?

Then we could pay the worthless Ruble debt off in dollars and we're solvent again!