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Apparently, the Russian Ruble is set to collapse. Citizens are in lines trying to drain
Posted on 6/13/24 at 6:59 am
Posted on 6/13/24 at 6:59 am
their accounts.
Reports are circulating that Rosbank and Gazprombank’s websites are down and that the Moscow Exchange is preventing people from logging in after yesterday’s announcement of additional sanctions from the U.S.
Rosbank is currently offering to buy U.S dollars for 52.8 rubles and sell them for 132.4 rubles, indicating a significant supply issue.
Financial advisors are reportedly telling businesses in Russia to hold off from concluding any ruble-denominated deals over fears the currency is on the brink of collapse.
It could be that Russian banks are struggling to access dollars, and Russia may be on the brink of a potentially devastating bank run.
LINK
ussians lined up to purchase U.S. dollars after the Moscow Exchange enforced an immediate suspension of trading in dollars and euros in response to fresh U.S. sanctions, a video circulating on social media appears to show.
Russia's central bank said Wednesday that exchange trading and settlements of deliverable instruments in U.S. dollars and euros were suspended effective June 13 "due to the introduction of restrictive measures by the United States against the Moscow Exchange Group." It added that over-the-counter trading data would be used to set official exchange rates for the currencies.
Reports are circulating that Rosbank and Gazprombank’s websites are down and that the Moscow Exchange is preventing people from logging in after yesterday’s announcement of additional sanctions from the U.S.
Rosbank is currently offering to buy U.S dollars for 52.8 rubles and sell them for 132.4 rubles, indicating a significant supply issue.
Financial advisors are reportedly telling businesses in Russia to hold off from concluding any ruble-denominated deals over fears the currency is on the brink of collapse.
It could be that Russian banks are struggling to access dollars, and Russia may be on the brink of a potentially devastating bank run.
LINK
ussians lined up to purchase U.S. dollars after the Moscow Exchange enforced an immediate suspension of trading in dollars and euros in response to fresh U.S. sanctions, a video circulating on social media appears to show.
Russia's central bank said Wednesday that exchange trading and settlements of deliverable instruments in U.S. dollars and euros were suspended effective June 13 "due to the introduction of restrictive measures by the United States against the Moscow Exchange Group." It added that over-the-counter trading data would be used to set official exchange rates for the currencies.
This post was edited on 6/13/24 at 7:02 am
30
Posted on 6/13/24 at 7:08 am to SmogkDeizKnutz
That’s why the dollar will remain relatively strong. We don’t manipulate our currency as much as other countries. Don’t get me wrong, we still manipulate it just not as much as these other countries.
Posted on 6/13/24 at 7:10 am to SmogkDeizKnutz
Now this is how you kick off a war!!!!!!
This will blow up Russians know that they aren't going to overthrow Putin or oust him. So what does this do other then get them to back him because of the sanctions. Russia is much like the US and / Iraq about this war. It's happening but it's a side note now you put everyone in bread lines and give them a common enemy. NOT A GOOD MOVE
This will blow up Russians know that they aren't going to overthrow Putin or oust him. So what does this do other then get them to back him because of the sanctions. Russia is much like the US and / Iraq about this war. It's happening but it's a side note now you put everyone in bread lines and give them a common enemy. NOT A GOOD MOVE
Posted on 6/13/24 at 7:11 am to BigPerm30
quote:
That’s why the dollar will remain relatively strong. We don’t manipulate our currency as much as other countries. Don’t get me wrong, we still manipulate it just not as much as these other countries.
This is one of those things that no matter how much data is presented, a certain segment will reject. Like violent crime rates falling.
The USD has issues and our fiscal/spending policies have even more, but nobody is close to replacing either on the world stage.
With China's economy having major issues and now this issue with the ruble, I'm sure BRICS is really doing well
Posted on 6/13/24 at 7:11 am to SmogkDeizKnutz
Posted on 6/13/24 at 7:12 am to WhiteMandingo
quote:
This will blow up Russians know that they aren't going to overthrow Putin or oust him. So what does this do other then get them to back him because of the sanctions.
Putin's plan (From years ago) was to devolve the Russian economy to become more self-sufficient and sacrifice the EV of international trade, specifically to be able to buck these sanctions. Him leading Russia down this path is fully intentional, because he knew what the response would be to the invasion of Ukraine he was planning for years.
Posted on 6/13/24 at 7:13 am to SmogkDeizKnutz
Timing of this story seems awfully convenient.
We’ll see in coming weeks as we get into summer whether anything has actually changed over there or whether this piece just kind of gets forgotten about altogether.
We’ll see in coming weeks as we get into summer whether anything has actually changed over there or whether this piece just kind of gets forgotten about altogether.
Posted on 6/13/24 at 7:14 am to SmogkDeizKnutz
OT Warmongers: "Russia is weak now, we must strike them now!"
Posted on 6/13/24 at 7:15 am to SmogkDeizKnutz
The democrats put these stories out so people don’t realize how bad it is here
Posted on 6/13/24 at 7:17 am to Gifman
I said a few weeks ago, it feels like we are at a really dangerous point where each side with respect to Ukraine is wobbly and ready to throw haymakers to end it. The west, for its own part, has acted desperate with Macron showing willingness to send troops, all the talk of NATO getting involved, Biden allowing U.S. equipment to strike inside Ukraine, etc.
This post was edited on 6/13/24 at 7:19 am
Posted on 6/13/24 at 7:17 am to Gifman
If US sanctions hold this much power, why did we wait until now to do it?
Posted on 6/13/24 at 7:19 am to SlowFlowPro
The only way BRICS as a currency even begins to gain relevance is if China and India became official allies. That ain't happening anytime soon. Dollar has been surging lately.
Posted on 6/13/24 at 7:22 am to SmogkDeizKnutz
Pretty presumptive even for Newsweek. Reads a lot like selectively picked info to push a narrative AKA.. fraught with propaganda.. Russias currency is down to the bone based on resources which they aren’t having issues unloading and coincidentally this article is timed with the not so good news surrounding the petro dollar
Posted on 6/13/24 at 7:24 am to SmogkDeizKnutz
Posted on 6/13/24 at 7:32 am to Gifman
The have a submarine in Cuba right now.
Posted on 6/13/24 at 7:32 am to KiwiHead
quote:
The only way BRICS as a currency even begins to gain relevance is if China and India became official allies. That ain't happening anytime soon. Dollar has been surging lately.
It's not just that, Iran is still a proxy of Russia, and Iran doesn't like SA and wants to be ME hegemon.
The EU had a couple of world wars before they were ready to create their regional economic network. BRICS is skipping a few steps. What could go wrong?
Posted on 6/13/24 at 7:36 am to SmogkDeizKnutz
Last time President Vladimir Putin issued a decree on the mandatory sale of foreign currency for certain exporters to get a nice bump.
Posted on 6/13/24 at 7:38 am to SlowFlowPro
Well, there's always toilet paper.....even the single ply is more useful
Posted on 6/13/24 at 7:40 am to SmogkDeizKnutz
No one believes this garbage anymore
Posted on 6/13/24 at 7:49 am to SmogkDeizKnutz
Why am I supposed to believe this?
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