Posted on 03/16/2022 6:02:21 AM PDT by marcusmaximus
Rating company Fitch said it would declare the Russian state in default if it pays holders of dollar-denominated bonds in rubles.
The Russian sovereign has $117 million in interest payments due today for two dollar-denominated government bonds—one maturing in 2023 and one in 2043. Russia’s finance ministry has sent conflicting messages about whether it intends to make the payment and, if so, in what currency.
Fitch said that if these payments aren’t received in dollars and within the 30-day grace period, it will constitute a default.
(Excerpt) Read more at wsj.com ...
When you owe the bank a million dollars, they own you.
When you owe the bank a trillion dollars, you own them.
Yeah who wants a currency that can just be printed by the trillions?
Oh, wait…
This amount strikes me a less than pocket change relative to the crazy amount of dollars our feckless government prints and spends.
“Yeah who wants a currency that can just be printed by the trillions?
That is true and being paid in Rubles at today’s exchange rates will likely work out great for the banks.
“This amount strikes me a less than pocket change relative to the crazy amount of dollars our feckless government prints and spends. “
Pocket change for Russia too as they still have $300B in foreign currency to play with. They’re just having fun here.
Jubilee
Global default. Change the world, destroy the bankers.
What’s that, about a half a days worth of oil FJB is buying from them every day?
117 million? that is very small for a country. Did they mean billion? Russia should be able to trade oil for dollars at a lower price to make this payment. Can’t believe they don’t have this kind of cash with all their resources.
Millions.
By not paying in dollars, they are reducing the amount of scarcity of dollars, which means the value of the dollar will go down. We will instead be forced to trade roubles for cash and hardly anybody in the world takes roubles for anything except Russia. This seems to be a coordinated effort of China Russia and the Middle East to go off the dollar for the price of oil into bankrupt the United States and the Democrat Party is either the dumbest group of people on the planet or they are completely complicit in this
Spelling check: ‘banksters’ has an ‘st’ in it.
But WE could pay it out of petty cash. Not so sure Russia had that laying around.
But MOST of that reserve is NOT in Russia.
True, he had 600B, but lost access to half of it.
Let Russia and China partner up to destroy the US economy since we’re already doing it to ourselves. The the dollar will be worth nothing. That’s when to start repaying the debt.
What country doesn’t owe a dozen other countries? At this point, tick off any equal debt/loan and call it even. Except the interest is what puts $$$$ into politicians’ pockets.
If they accept gold backed rubles to pay off a nothing backed dollar then they will have to admit the dollar is worthless.
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