The ruble nosedives
POSTED BY: kpo
UPDATED: Monday, August 4, 2025 19:09
VIEWED: 4294
PAGE 1 of 3
Following sanctions, and the collapse in the price in oil, Russia's currency has lost half of its currency since the beginning of the year - worse than Ukraine's hryvnia. And it's still falling - despite the central bank buying billions of dollars worth of rubles and raising interest rates to 17%
It will be interesting to see if this changes Russian policy on Ukraine, and what happens in the Russian economy if it doesn't (or even if it does)...
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Putin had to expect the sanctions, but the drop in oil prices ?
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Where my dogs at, bitches!?
Without firing a single shot..............$$$$$ it's the bottom line.
SGG
Quote:
Originally posted by kpo:
Following sanctions, and the collapse in the price in oil, Russia's currency has lost half of its currency since the beginning of the year - worse than Ukraine's hryvnia. And it's still falling - despite the central bank buying billions of dollars worth of rubles and raising interest rates to 17%
It will be interesting to see if this changes Russian policy on Ukraine, and what happens in the Russian economy if it doesn't (or even if it does)...
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Because what the price of the ruble is telling us is that Russia's economy is in worse shape than Venezuela's? Ukraine's? Argentina's (which is one step away from simply declaring default in its bonds)???
HAHAHAHA! Not bloody likely!
Russia has a decent manufacturing base, a crap-ton of natural resources, a positive balance of trade, and currency reserves for the next two years.
Yes, the ruble should drop because of lower oil prices and sanctions, but dropping THAT much is beyond economics. There's nothing sensible about, so I would look immediately towards politics. There are undoubtedly speculators in the back room who are trying very hard to bring down the ruble. George Soros, for example, brought down the British pound... and that was to a nation that he LIKED! He made an impassioned plea for the EU to back Ukraine's bonds (probably because he lost a crap-ton of $$$ on the hryvnia) and he HATES Russia. For him, this would be a twofer: he gets to make $$ shorting the ruble and gets to kick the bear.
And then there's Goldman Sachs, which played a considerable part in destroying Greece. It has the clout and the resources to swing the ruble market. They were the first bank to jump in and stop trading on the ruble, but the other banks didn't follow their lead.
This is all part of economic warfare. A showdown between the dollar and "something else". Since Russia already said that getting kicked out of SWIFT would be considered an act of war, tanking the ruble and making ruble-denominated trade impossible is the next-best thing,
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You can't build a nation with bombs. You can't create a society with guns.
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You really are little more than a propaganda machine Sig.
Bank Run Fears Escalate As Russian Lender Bans Cash Withdrawals
http://etfdailynews.com/2014/01/28/bank-run-fears-escalate-as-russian-
lender-bans-cash-withdrawals/
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Quote:
You really are little more than a propaganda machine Sig.
Said the propaganda machine.
THUGR, you should probably wonder at this point why you haven't had an original thought since you were 5 years old. And, once you realize that all you're doing is spouting other peoples' thoughts, you might want to look in the direction of who stuffed those thoughts in your head, and deprogram yourself. (HINT: I would start with the military. It's their job to brainwash inductees.)
BTW, did you READ your link????
According to what you posted, EVERY bank is limiting withdrawals! There's nothing special about a specific Russian bank, it appears to be one of many across the globe.
Quote:
“Bloomberg reports that ‘My Bank’ – one of Russia’s top 200 lenders by assets – has introduced a complete ban on cash withdrawals until next week.
On Saturday it emerged that HSBC was restricting large cash withdrawals for UK customers from £5000 upwards ... China’s commercial banks had been instructed to suspend cash transfers... Lloyds Banking Group customers from withdrawing cash at ATMs in the UK also contributed to the concerns... Chase Bank also recently imposed restrictions...
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You can't build a nation with bombs. You can't create a society with guns.
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Well, it looks like the drive against the ruble fizzled in just a few days. Whoever was manipulating the market got clipped.
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You can't build a nation with bombs. You can't create a society with guns.
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I'm seeing the ruble still at around 60 to the dollar - that's stabilised, but still painfully low.
It's not personal. It's just war.
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Not to worry it's far from over. By mid-2015 Russia will be in a full blown recession.
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