Posted on 03/14/2022 5:34:03 PM PDT by marcusmaximus
Reminds me of Trotsky’s ‘Soviet America’ where he said payments for good would be in coupons, until there’s so much excess there’s no need for payments at all.
Why do you say that? They defaulted in 1998.
As usual, The Puppet's handlers didn't think this through...
And Russia thinks China will loan them money at the same time China backed companies in China are facing bankruptcy. I don’t think so.
Russia has 15 international bonds with a face value of around $40 billion outstanding. Around half of the bonds are held by foreign investors.
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Senile Joe’s sanctions shoots himself in the foot. Before anyone mouths off, do realize investors lose. It doesn’t matter who the investors are, they lose money, big money.
Chase Bank (US) is rumored to be in the process of losing $60 billion in Russian investment.JP Morgan “ rumored” ( only because they are not disclosing potential loses) to be over $100 billion in derivatives.
Senile Joe and the cheerleaders for sanctions have no idea what they have done to weaken , even destroy western financial institutions.
The pain from these stupid sanction monkeys is just starting. These monkeys are throwing lit dynamite around like confetti after a sporting event.
You know who gets hurt?
Consumers all over the world.
But hey, at least they aren’t tariffs.(Sarcasm)
That would be a real “No No.”(Sarcasm)
“Senile Joe and the cheerleaders for sanctions have no idea what they have done to weaken , even destroy western financial institutions.”
You sure got that right. Don’t forget the asset forfeiture that the west stole from Russia’s bank deposits (their reserves) in the amount of $250 billion that sit in western banks.
Who in their right mind would keep money in US dollars and in western banks. Hell, they seize citizens’ accounts every day, so maybe this is normal.
This may hurt Russia, but it could well devastate us and send Xiden groveling to Venezuela and Iran and the middle east oil kingdoms that will not even take his calls.
The pain from these stupid sanction monkeys is just starting.
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Exactly, every.single.sector is going to suffer. Today’s global financial system is so interconnected just one wrong move ( sanctions) can set off a global crisis. Deutches bank has lost 38 percent of its value, and more disturbing :
“ There is a known $41 billion in Credit Default Swaps (CDS) on Russian debt. There is likely many billions more in unknown amounts. There are also billions more in Credit Default Swaps on state-owned Russian corporate debt and non state-owned Russian corporate debt. In addition to Wall Street not knowing which global banks and other financial institutions are on the hook to pay out on the Credit Default Swap protection they sold in case of a Russian sovereign debt default (or Russian corporate debt default), there is also approximately $100 billion of Russian sovereign debt (whose default is looking more and more likely) sitting on the balance sheets of foreign banks.”.
https://wallstreetonparade.com/
Senile Joe just ignited WW3, The Great Financial Meltdown. Worldwide Banking losses, credit destruction, ( the world runs on credit), huge food shortages, record inflation, dislocation of every market worldwide.
We are a bloated woke economy with huge debt and real estate valuations.
“We got this.”(Sarcasm)
The United States is entering a twilight zone, where natural resource utilization, industry/manufacturing, and agriculture are deemed “non essential.”(we have to save the planet/Climate Stuff)
The good news is pain can be a clarifying event, with enough economic pain inflicted, we should see some incremental positive economic developments.
Delta,
Thanks for the info.
The nonchalant attitude about sanctions is pissing me off.
Its pure emotion driven.
Its going to make supply chains, the labor supply, and a misalignment between capital & labor even worse.
The global economy was already in a bind before Russia & Ukraine and now they make everything substantially more chaotic.
“The finance ministry said payments will be made in roubles if sanctions prevent banks from honouring debts in the currency of issue.”
And they will place the value of a ruble equal to a Euro. Then say “No default. We paid.”
and send Xiden groveling to Venezuela and Iran and the middle east oil kingdoms that will not even take his calls.....
He’s already doing that. As putsky’s buttboy he grovels to him all the time. He needs pooty to get on board his klimate change agenda and help surrender the USA to the ayatolla (I don’t care how it’s spelled) in his nuke arms agreement.
Biteme was told by military genius milly that Kiev wouldn’t last 3 days. Whatever too late aid he’s giving to the Uke’s is window dressing to please the US electorate which hates pootsky.
And they will place the value of a ruble equal to a Euro. Then say “No default. We paid.”.....
And if you pay the bank with wooden nickels they take your car.
“And they will place the value of a ruble equal to a Euro. Then say “No default. We paid.”
You do understand what a “Euro denominated bond” means? The contract requires they be paid back in Euros.
You do understand what a “Euro denominated bond” means? The contract requires they be paid back in Euros.....
Yes.
Euros, not rubles or made up exchange rated rubles
They didn’t default on sovereign debt in 1998, they defaulted on domestic debt.
These bonds are dollar denomination bonds, not euros.
Read later.
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