Posted on 12/16/2014 4:41:16 AM PST by elhombrelibre
(Reuters) - The ruble plunged more than 10 percent for the second day on Tuesday and recorded its worst fall since the Russian financial crisis in 1998 as confidence in the central bank evaporated after an ineffectual overnight rate hike.
The rouble opened around 10 percent stronger against the dollar following the overnight 650-basis-point rate hike, but it reversed gains in early trade and fell to record lows, pushing losses this year against the dollar to over 50 percent.
At 0637 ET, the rouble was down over 11 percent against the dollar at 73.00 after dipping past 74 rubles per dollar for the first time. It was more than 15 percent weaker versus the euro at 92.99, dragged lower against both currencies by falling oil prices, increasing market panic and Western sanctions over Ukraine.
(Excerpt) Read more at reuters.com ...
Actually, if Hitler had treated the conquered Russians decently, it might have been a cakewalk, many originally welcomed the Nazis as liberators from Stalin, but it became clear very quickly that they were not interested in making friends there.
All they have to do is give their nukes to Iran.
Or sell them.
“some say the west plays checkers and Putin plays chess”
Or better described as Financial politics vs. Realpolitik.
The situation in Russia today is FAR different than what it was in the 80’s.
For the big one, Russia in now a net EXPORTER of food, so the mass starvation they were looking at then, isn’t an issue now.
Russia has a very large Gold Reserve, and per Bloomberg, can cover 18 months of currency outflows at even today’s rates.
Debt is VERY low, in comparison to the West.
They are only 20 years down the road from the last “Great” Currency Crisis, so people remember.
These aren’t US millennials and welfare voters we are talking about. The Russians handle adversity much better than we do, simply because they are used to ups and downs.
Yeah, it hurts, but the Russian people have dealt with hurt before. To compare the Russian mindset to the average Democrat Voter’s is a big mistake.
PS- Some GREAT buying opportunities opening up in Russia right now!!
And if moslems didn’t cut off heads they might be fine neighbors. When the paperhanger said that, he thought he could do while conducting mass murders everywhere he went.
And they never really had a realistic chance anyway.
Had Moscow burned, the front would have moved 20 miles east and the war would have continued.
Hubris of the German lost cause thinking is amazing sometimes. If only “this”,,then they would have won. If only the V2 ,,,if only the 262 wasn’t made into a bomber, if only,,,,
But the question is, how long would Stalin have remained in power had Moscow been taken....I think there's a very good chance he would have been overthrown if it happened.
Imagine if the Soviets could have won the war, with Stalin out of the picture.
“The US economy will go into orbit.”
Until we begin to address, as a nation, why the manufacturing jobs left America in the first place, it won’t.
We are now an economy almost TOTALLY dependent on consumer and Government spending. Very soon, we are going to hear the financial pundits start uttering the dreaded term “DEFLATION”.
LOL, well gee if you have a quote, that decides all future military operations and capabilities and war fighting conditions and technology forever.
Besides, if Russia is invading us, then Russia is the one having the 70 year old problems of supplying their invading troops, not NATO/US.
We would be fighting on our own NATO territory, with our Navies and Air Forces and Germany and France and Britain and 25 more countries allied, don’t you think the Russians would be the ones having trouble with logistics?
“Hubris of the German lost cause thinking is amazing sometimes. If only “this”,,then”
The “turning points” of WW2 were many, and all easily argued. The bottom line was Germany wasn’t ready for war, and still didn’t go to a “Total War” footing until late 1943, thanks to Albert Speer. By then it was too late.
Why is that all they have to do.
And do what, conquer Europe and the United States? Really, that’s all they have to do for world conquest?
As the old saying goes, "With the Russians in Frankfurt, the deutschmark is toilet paper".
That's easy. We have to repeal the NAFTA and GATT treaties and force those manufacturers back onto U.S. soil. Most of the really huge corporations and most all of the OPEC memberships originating from BIG OIL don't even see themselves as being "American." Rather they see themselves as citizens of the world as in NWO. We must as a nation, correct them of that viewpoint. Just as we must corect the immigrants of the view that they are somehow hyphenated citizens from some other locale, now semi-merged into the new dynamic. Either you're "ALL IN" or not. If not, get out.
That, and, what if the weapons are defective?
I'm left to relying on Obama not to go further. So far he's been restrained in dealing with Russia, all to his credit.
We need a leader that can do a 'reset' with Russia. So far only Paul's son Rand has demonstrated that he is able to take that giant step.
The first step is to lay off Russia and stop the strategy of trying to splice up Russia and destroy it. All for greed of their resources.
Take special note of your chart:
Russia pulled a Volker and jacked interest rates, so whoever was naked shorting the ruble was completely boned if they didn’t get out of their position as fast as possible.
Count the MINUTES between the rate hike announcement, the open of markets (in the US), and the shutting down of USD/RBL trades so they could cover.
Very, very connected players.
So, yes, Russia DID short squeeze and the US pulled another MF Global style save of their insider butts at everyone else’s expense.
Well, we did ask Europe to cooperate in sanctions. Any news on how much influence that is having?
It all began back during the regimes of Bush #41 carried through Clinton and onto Bush #43. The GATT and NAFTA treaties made it so attractive to move offshore or overseas that the big and little manufacturers couldn't resist. Why stay and pay any worker $15 an hour minimum when you can go to Mexico and pay 15 pesos?
The next step in this globalization process is a uniform single currency for the world so the modern day Robber Barons won't have to lose any $$$ during a currency conversion while moving the money between banks or investments. The President's involved ADMITTED that the country would lose manufacturing jobs but promised that the big "Hi-Tech" jobs would easily make up for the loss. Well, they lied to nobody's surprise (except maybe big labor) and lo, but those promised Hi-Tech jobs went off to India and Pakistan.
The best way to purge this disease from our midst is for the next administration to simply refuse to appoint any member of either the Council on Foreign Relations or the Trilateral Commission to any level of post in the regime. But that will never ever happen because the CFR rules the game. Every POTUS since Woodrow Wilson has fallen victim, even Ronald Reagan. How do you think he came to take GHWB as his veep? Ronnie may not have been exactly dancing to those tunes (or maybe he did sometimes, like when he did an amnesty for the illegals) but he sure knew all the musicians and the songs....
Russia only survived WW2 because of the Lend-Lease program.
Sorry, but it began LONG before that, back in the 70’s, with the 1976 UAW contract, and the Clean Air Act amendments in 1977.
Steel was the first to go, and that started several years before Carter proposed what later was called NAFTA.
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