Posted on 04/11/2022 10:31:10 AM PDT by C210N
Russia has defaulted on its foreign debt because it offered bondholders payments in rubles, not dollars, credit ratings agency S&P has said.
Russia attempted to pay in rubles for two dollar-denominated bonds that matured on April 4, S&P said in a note on Friday. The agency said this amounted to a “selective default” because investors are unlikely to be able to convert the rubles into “dollars equivalent to the originally due amounts.”
(Excerpt) Read more at cnn.com ...
Why don’t they pay in gold if they have enough?
Wonder if the debt holders will be able to see the banks that have frozen Russian assets.
LOL.
Wishful thinking. Virtual default based on transaction ban is everything but default.
Globohomo wanted their great reset. Be careful what you ask for because it might not roll your way.
The whole thing is silly. This is like having your bank freeze your access to your checking account … and then complaining that you didn’t make your mortgage payment.
Never rejoice in the downfall of an enemy. Without fail a worse enemy is just around the corner.
Why don’t they pay in gold if they have enough?
......................................................
Gold has value.
I also wonder about diamonds. They sell to DeBeers. Billions of dollars. Anyways biden is going to keep pushing. I think Putin has a lot of dirt on biden and his family.
Yes they can sue. For U.S. citizens that hold Russian bonds this amounts to a government property seizure without due process.
The mortgage holder doesn’t care why the bank froze your checking account, only that they didn’t get paid.
They’ve also paid off so much to their debt that their debt to GDP ratio is one of the lowest in the world if not the lowest. In a way you could see them as the guy down the street that lives in a modest house while you live in a big mansion except he has no debt and you’re just one paycheck away from going bankrupt because of all your debt.
“Why don’t they pay in gold if they have enough?”
Because they don’t have nearly enough. They have $160 billion in gold and $450 billion in foreign debt.
they should demand gold for their gas & oil ….
I don’t really think Biden is the one pushing the sanctions that hard. It think it’s Boris Johnson.
The Democrat House is pushing harder than Biden is.
Could be wrong. Change my mind.
> Why don’t they pay in gold if they have enough?
Some other excuse would be made to not accept payment.
Wonder if the Chinese debt holders will get any payments on debt that China has refused to pay on for almost a century.
What fall? The only thing I see falling is this country because of the CF leadership we have.
They have $132 billion in gold. That is a piss in the ocean. Many in Russia were shocked by that small amount. They were selling gold in London in 2020 and 2021. WHOOPS!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.