U.S. stops Russian bond payments, raising risk of default

Reuters ^ | 4/5/2022 | Megan Davies

[marcusmaximus]

The country has a 30-day grace period to make the payment

[BenLurkin]

Insanity.

Taking sides in tbis piss ante war makes no sense. None.

[JonPreston]

So the Russians tried to pay their creditors, and Biden said no.

Go sanctions! Go Biden!

[immadashell]

But the Treasury Department had been allowing the Russian government to use those funds to make coupon payments on dollar-denominated sovereign debt on a case-by-case basis.

If your first name was either Hunter or Big Guy, you got paid. The rest? Not so much!

[DesertRhino]

Why would you make a payment. It’s not like heir financial ties and banking relationships are ever coming back. We simply stole 600 billion and that’s the end of it.

We’ll see if it was worth it when US bond holders and hedge funds don’t get paid.

[GrumpyOldGuy]

I don’t see why they would drain what reserves they have. The west imposed the restriction on them, since the west changed the terms, Russia would not seem obligated to follow the terms of the screwing.

[Alberta's Child]

LOL. That's exactly what appears to be the case.

It's like a landlord demanding a rent payment from a commercial tenant ... after the landlord basically put the tenant out of business by tearing up the parking lot and the sidewalk in front of the building.

[Navy Patriot]

U.S. stops Russian bond payments, raising risk of default

Theft and Piracy by the US Government.

[marcusmaximus]

Not winning...

[agere_contra]

So the Russians tried to pay their creditors, and Biden said no.

Pretty much.

The Russians have given instructions to pay. The only reason to refuse access to those funds is if someone has already spent them.

[stuck_in_new_orleans]

Umm ok. I think we should side with the country that’s being invaded by Russia

[DesertRhino]

Not to mention how every other country in the world will look at this. The risk of keeping cash and gold reserves in the USA just went way up.

Here’s the question. If your mission was to destroy the US and world economy to usher in a new system so you could “build back better”, what would you do differently?

[JonPreston]

I hope the people who post this stuff don’t understand the ramifications. If they do, and cheer it on anyway, we’re in deeper trouble than I thought.

[House Atreides]

Force majeure.

[bert]

You misunderstand. Now is the time to complete the destruction of of the Russian plague

[PGR88]

LOL! Russia wants to make the payments to its western creditors - and made bond payments a week ago.

Now the USA is going to force them to default by blocking even those payments

The mask has come off

[marcusmaximus]

Putin voted for this by invading Ukraine. Consequences.

[JonPreston]

If your mission was to destroy the US and world economy to usher in a new system so you could “build back better”, what would you do differently?

Not a thing and I doubt the cheerleaders understand this.

[cgbg]

It looks like the battle between Xenophobia and rational thinking on FR is a close call...

:-(

[FreshPrince]

Default on the T-Bills. That would do it more efficeintly.