Posted on 03/09/2022 7:48:19 AM PST by marcusmaximus
Russia will soon be unable to pay its debts, according to a leading credit ratings agency.
Fitch Ratings downgraded its view of the country's government debt, warning a default is "imminent".
The move comes amid increasing international sanctions against Russia following its invasion of Ukraine.
A credit rating is intended to help investors understand the level of risk they face in buying a country's debt - or bonds.
A low rating means the chances of not getting repaid is considered to be high - and so an investor will charge more to lend to that country.
This week, Moscow itself said its bond payments may be affected by sanctions.
The ratings cut - to C from B - is the second time this month Fitch has downgraded its view of Russia's ability to pay its debts.
"This rating action follows our downgrade... on 2 March, and developments since then have, in our view, further undermined Russia's willingness to service government debt," the agency said.
(Excerpt) Read more at bbc.com ...
Could the US pay its debts?
As if Russia gives a crap. What are they going to do to them?
Never in the history of the planet has there been so much stupidity all around.
Obviously fake news since Russia itself is not insolvent.
China is supposedly offering support to Russia, but it appears that China and the Biden administration are working together to destroy both the Russian and American economies.
I hope the Rooskies tell the world cabal to eff off.
After the information released the last few days about the US and Europa bio weapons labs in the Ukraine I have lost what little faith/trust I had in all governments worldwide.
The question is not whether the Ruskies default, the question is who holds the credit default swaps, er, CDOs. Remember 2008 when the CDOs swamped our market with worthless government guaranteed debt?? Well, as a well worn line from the movie Wall Street goes: well someone got to pay, and it ain’t going to be me (says Russia).
Biden will buy more Russian oil to help them.
When you owe the bank a thousand dollars and cannot pay them back, you have a problem.
When you owe the bank a billion dollars and cannot pay them back, they have a problem!
Biden and Schumer’s Wall Street donors.
In that case, get ready for the bail out.
The propaganda relating to this conflict knows no bounds... This one is laughable. Russia supposedly owes around $40 Billion only half of which is owed to foreigners. The United States now owes over $30 Trillion and under the Biden administration this is growing by $$$ Billions each and every day. For all the math wizzes here a trillion is a thousand times more than a billion.
… and what is anyone going to do about it? Maybe deplatform them? Oh, sanctions! Maybe remove them from SWIFT?
Russia has a low debt load. So it shouldn’t crash the international financial market.
They’ll use non payment as leverage for their frozen dollar/ruble holdings.
So what?
Russian Bonds were defaulted in 1917 by the Bolsheviks who stole the Russian Revolution.
The oligarchs who received the bond proceeds are laughing their asses off
“further undermined Russia’s willingness to service government debt,”
There’s the real rub. Unwillingness to repay even if able to.
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