Russia situation

[Lowdown3]

http://www.bloomberg.com/news/2014-12-17/russian-bank-run-could-be-in-the-cards-uralsib-capital-says.html

Another article yesterday showed Russians running out to buy high ticket items to avoid inflation. Funny to see Russians in an IKEA store.

Wife says "it's funny to see Russians, who we figure are so tough and manly in an IKEA store." I told her they are probably thinking buy anything that MAY hold it's worth.

Weren't we just talking about the fact that their is a currency war going on now????

[justanothergunnut]

I wonder how much vodka is left on the shelves at local stores?? If people are dumping crashing currency Into furniture what shortages are they facing now?? Or is it that other items are inflated out of reach?

[thedreamers]

our government and Europe are playing a dangerous game to try an force Russia's hand. you never back a bear into a corner, he'll come out with all he's got an not care what happens when the dirt settles.

[prc-104]

For a non-western viewpoint of the currency wars ...

Figured I'd put this up and to me it carries much more weight than Bloomberg stuff.

Most importantly to note about this currency plunge, however, this report notes,
are that Russia’s fiscal domestic accounts are denominated in depreciating rubles
and its oil exports are invoiced in an appreciating US dollar, meaning that the
fiscal blow from lower oil prices will be cushioned by a weak ruble, and was a
strategy that Putin warned about earlier when he stated that the Federation was
braced for a “catastrophic” slump in oil prices.

Equally as important to note, MED analysts in this report say, the CBR agreed to
lend money this week against 625 billion rubles (over $10 billion) of bonds freshly
printed by oil giant Rosneft allowing it to hoard its export dollars and meet a $10
billion loan repayment later this month, and another $4 billion in February.

As to how catastrophically low oil prices can fall, this report continues, it notes
that OPEC has already stated that they are willing to push prices as low as $40 a
barrel in their bid to take on Russia and US shale, a stance which began this past
September when the Obama regime reached a secret deal with Saudi Arabia in
order to flood the world with oil to collapse the Russian economy, but which has
now backfired on them as the Saudis seek to bankrupt US shale producers too.

With 15% of US shale gas producers are already losing money because of the
Obama regimes secret deal with Saudi Arabia, this report warns, up to half of all
of Americas shale operations will face financial ruin if oil prices slip below $55 a
barrel leaving millions without jobs in an already collapsing economy.

To the ability of the Federation withstanding a “Samson Defense” economic war
against the US and EU, this report says, it should be noted that the current debt of
the US stands at a staggering $18 trillion [an amount so large it is now mathematically
impossible to ever pay back] while the EU is, likewise, at a equally staggering amount
of €12 trillion ($15 trillion).

Compared to the combined US-EU debt of $30 trillion, this report notes, Russia
has only $678 billion in foreign debt, has very little outstanding debt and its public
debt to gross domestic product ratio is 10% - an excellent figure compared to the
EU’s dismal average ratio of 90.9 and the US’s 71.8%.

Likewise to note, MED analysts in this report say, is that while Russia’s debt to
GDP is roughly 14%, the EU currently stands at 90.9%, the US at 80.2%, and
Japan’s at 227%, meaning, simply, that the Federation can withstand any
economic hardship the Western alliance puts against it.

Also, and as independent analysts confirm, Moscow‘s coffers are well-filled,
giving Russia the durability to weather a double external shock - tanking oil prices
and Western sanctions.

Bloomberg, the anti-gun bigot. Oh, sure, I'll take his networks word as gospel. /sarcasm off

[Lowdown3]

I didn't even really look at the source of the link, pulled it from Survivalblog I think???

That's Mayor Bloomberg's site????

[prc-104]

Nope

Ex-mayor POS Bloomberg owns http://www.bloomberg.com
Which is where the OP came from.
It's generally come to nobody watchs Bloomber news any more. Much like MSNBC or should I say MSLSD.

Anyway, I don't think the picture we're being told fits with what I'm seeing internationally.

What bothers me is us going after russia with oil prices and the Saudi's turning it back on us because the idiots in State didn't realize how their action would effect saudi.

Then this sony thing, I think NSA did it to quietly prove their leverage over us corporations and NK was a convenient dummy to blame it on.
Now the NSA can hint to corp's who don't knuckle under ..... wanna be a sony?

Lots of stuff gonna hit the fan in obama's last days in office.

[Rmplstlskn]

It is a very dangerous time we live today...

Rmpl

[Mannlicher]

our government and Europe are playing a dangerous game to try an force Russia's hand. you never back a bear into a corner, he'll come out with all he's got an not care what happens when the dirt settles.

ahh, the Neville Chamberlain school of Diplomatic relations is still in vogue. :)

[Patriotic Sheepdog]

[QUOTE=prc-104;62567]Figured I'd put this up and to me it carries much more weight than Bloomberg stuff.

[B]Most importantly to note about this currency plunge, however, this report notes,
are that Russia