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Posted on 6/12/24 at 9:53 pm to LSUPilot07
quote:
One of these systems costs $2.5 billion dollars!!
Wait - I thought only Western nations had very expensive military equipment that may not work
Posted on 6/12/24 at 9:56 pm to TigersnJeeps
quote:
Wait - I thought only Western nations had very expensive military equipment that may not work
Russian economy is booming. They can afford it all.
Posted on 6/12/24 at 11:28 pm to texag7
It looks like a squad of Russians took a block in Vovchansk while their main positions are obliterated with JDAMS with potential encirclement
Posted on 6/13/24 at 3:06 am to cypher
quote:
Panic in Russia after news of new US sanctions against the Russian economy. Currency trading on the Moscow Exchange has been stopped & people are gathering in front of banks to withdraw their savings, fearing that the Ruble will implode
quote:LINK
New US sanctions against Russia have forced an immediate suspension of trading in dollars and euros on its leading financial marketplace, the Moscow Exchange (MOEX). The exchange and the central bank rushed out statements on Wednesday — a public holiday in Russia [coincidence? I think not...] — within an hour of Washington announcing a new round of sanctions aimed at cutting the flow of money and goods to sustain Russia’s war in Ukraine.
“Due to the introduction of restrictive measures by the US against the Moscow Exchange Group, exchange trading and settlements of deliverable instruments in US dollars and euros are suspended,” the central bank said.
The move means banks, companies and investors will no longer be able to trade either currency through a central exchange, which offers advantages in terms of liquidity, clearing and oversight. Instead, they will have to trade over-the-counter (OTC), in which deals are conducted directly between two parties. The central bank said it would use OTC data to set official exchange rates.
As any of us that have lived in a Third World country know, US Dollars and Euros are physically held in these countries as hedges against currency devaluation and inflation. The US Treasury data shows clearly that more US currency is held outside of the US than inside the US.
In a war economy under sanctions it is critically important for citizens to have these protections. Without First World currency, Russians must now revert to Chinese Yuan, the value of which is not set by markets but by the CCP. Do you think the Chinese will offer the Russians the same forex rate as they offer to First World countries?
Bend over Ivan. Secondly (this is a long list...), any trading of the remaining Dollar / Euro currency in Russia must now be done OTC on a side-deal basis. So kiss goodbye to liquidity and to taxes to the Russian government. And any valuation for the Ruble will be based on what crumbs the Chinese leave them.
If the Russians can get any other supported currency with decent liquidity, they should get it asap. Turkish Lira would be a good idea as it is pegged to the Euro in many ways.
We can talk about the ramifications all day, but buying and selling anything in Russia just became a giant crap shoot with the odds changing by the hour. This will hurt Putin's position far more than any casualty rates from the rural hinterlands. It will change grumbling about the West to serious plans for regime change. Let the car bombs begin...
Posted on 6/13/24 at 3:18 am to Coeur du Tigre
And here we go...
Meanwhile, over at MOEX...
quote:
Following RosBank, Gazprombank is preventing clients from logging in.
Meanwhile, over at MOEX...
This post was edited on 6/13/24 at 3:23 am
Posted on 6/13/24 at 3:33 am to Coeur du Tigre
They got snowballz in Moscow...
There are now more Russian bank websites DOWN than there are UP.
LINK
There are now more Russian bank websites DOWN than there are UP.
LINK
Posted on 6/13/24 at 5:41 am to Coeur du Tigre
It's going to be very interesting to see if Russian banking officials can stabilize things in the short term. I think that they can.
Posted on 6/13/24 at 5:42 am to GOP_Tiger
Posted on 6/13/24 at 6:01 am to GOP_Tiger
This is an obvious ploy to get the Ukrainians to waste their precious ATACMS on Russia’s plentiful S-400s. It’s all going according to plan. Putin remains master strategist.
Posted on 6/13/24 at 6:33 am to Auburn1968
quote:
Putin is a guy who has wolf by the ears. He can't let go.
That's a fairly apt analogy
Posted on 6/13/24 at 6:43 am to GOP_Tiger
Medvedev's quite upset
Medvedev threatens space war with US in response to new sanctions
Dmitry Medvedev, a prominent Kremlin spokesperson, reacted sharply on Telegram to new restrictions that halted currency trading on the Moscow Exchange on June 13.
Unable to match the economic prowess of the United States, Medvedev resorted to threatening rhetoric, vowing to arm terrorist regimes and criminal groups opposed to the West with unlimited weaponry.
Medvedev escalated his threats by declaring a "space war" against the United States, intensifying his stance with provocative language. "They fear a war in space? They will get it," Medvedev stated, further cursing, "Let everything stop for them, let everything go wrong, let everything go to shite."
This outburst comes in response to increased international pressures and sanctions impacting Russia's financial systems and reflects a continuation of the aggressive posture adopted by Russian officials in the geopolitical arena.
LINK
Medvedev threatens space war with US in response to new sanctions
Dmitry Medvedev, a prominent Kremlin spokesperson, reacted sharply on Telegram to new restrictions that halted currency trading on the Moscow Exchange on June 13.
Unable to match the economic prowess of the United States, Medvedev resorted to threatening rhetoric, vowing to arm terrorist regimes and criminal groups opposed to the West with unlimited weaponry.
Medvedev escalated his threats by declaring a "space war" against the United States, intensifying his stance with provocative language. "They fear a war in space? They will get it," Medvedev stated, further cursing, "Let everything stop for them, let everything go wrong, let everything go to shite."
This outburst comes in response to increased international pressures and sanctions impacting Russia's financial systems and reflects a continuation of the aggressive posture adopted by Russian officials in the geopolitical arena.
LINK
Posted on 6/13/24 at 6:50 am to cypher
quote:
Medvedev resorted to threatening rhetoric, vowing to arm terrorist regimes and criminal groups opposed to the West with unlimited weaponry.
And this is different from today how?
Posted on 6/13/24 at 7:05 am to StormyMcMan
Why did we wait over two years to levy these new sanctions?
Posted on 6/13/24 at 7:13 am to GOP_Tiger
quote:Well... with the Russian Central Bank setting the official inflation rate at just north of 16%, unadjusted for yesterday's news and accurately calculated to be closer to 27%, they have lost control of inflation. Their two main tools to fight inflation are gone: Firstly, further interest hikes will have no effect; and secondly, there is no foreign currency market with which to prop up the Ruble.
It's going to be very interesting to see if Russian banking officials can stabilize things in the short term. I think that they can.
The Russian labor force, based significantly on Central Asians, is now seeing serious shortages due to deportation and harassment of these people. Plus, what workers are still employed are subject to out of control wage inflation:. Lower employment, higher inflation:
China won't help them. Considering that China's import/export markets with the West are far (8-10x) higher than with Russia, they aren't getting into bed with Putin. They will egg him on in the war, which only weakens Russia, but they're not stupid.
As an example, look at why China won't agree on the Power of Siberia-2 gas pipeline. China wants to pay close to the subsidized Russian domestic price and will only commit to buying a fraction of capacity. With those terms, they will have to change the name of the pipeline to the Bendover and Spread 'Em Pipeline.
Another issue is Russian exports. Markets for oil and minerals are all established in US Dollars. Exchange of which is now only available to Russia through 'secondary exchanges'. That means either financial institutions which don't care about being shut out of all US markets (North Korea, Yemen, Cuba) or China (see above). The rates the Russians will get will be far worse than black market because they have no other options.
China's help with currency and raw material export and tech imports will only end up one way - the Russian Ruble will be permanently subsumed by the Yuan. Third party markets will stop trading in Ruble and just go straight to the Yuan, letting the Russians clean up the mess. Unless Putin decides to ditch the Ruble entirely and introduce the Yuan as the official Russian currency. Interesting concept, but no.
Meanwhile, guess who's losing their asses on an hourly basis? That's right, the siloviki. Inflation is really bad in Russia, but it ain't the worst thing.
This post was edited on 6/13/24 at 10:45 am
Posted on 6/13/24 at 7:30 am to Coeur du Tigre
quote:
they have lost control of inflation
Biden's knack for stimulating inflation finally pays off.
Posted on 6/13/24 at 7:36 am to Coeur du Tigre
quote:
As an example, look at why China won't agree on the Power of Siberia-2 gas pipeline. China wants to pay close to the subsidized Russian domestic price and will only commit to buying a fraction of capacity. With those terms, they will have to change the name of the pipeline to the Bendover and Spread 'Em Pipeline.
China does a really good job diversifying their energy sources and heavily investing in it. Their energy costs are set to drop significantly over the next decade or so, which will only widen the production advantage they have.
Then the problem for them becomes making better products
Posted on 6/13/24 at 7:37 am to cypher
To my way of thinking, there's only one answer for Russians.
Posted on 6/13/24 at 7:41 am to doubleb
quote:
Why did we wait over two years to levy these new sanctions?
Drip
Drip
Drip
Posted on 6/13/24 at 7:45 am to Coeur du Tigre
Even at casualty rates that split the difference between Ukraine's numbers and Russia's numbers, I don't think Russia will have to worry about unemployment for long
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