- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Russia slides into historic debt default as payment period expires
Posted on 6/27/22 at 10:18 am to Bunk Moreland
Posted on 6/27/22 at 10:18 am to Bunk Moreland
Just checking the 10 year Russian government bond is currently paying 8.660%. There has been no spike in bond price due to sanctions. In fact the 10 year bond yield has been very stable the last 2 years at 8.6-8.75%.
1
Posted on 6/27/22 at 10:22 am to GumboPot
Russia defaulted after the Bolshevik revolution when Lenin said frick the czar’s debts and in 1998 amidst the economic upheaval after the fall of the Soviet Union.
Posted on 6/27/22 at 10:22 am to LuckyTiger
quote:
It is important to note that the only organizations labeling this development as a default are media outlets. The bond holders have not declared the debts in default. Obviously, the bond holders want to get paid. Russia paid the amounts in full in rubles due to artificial means of refusal of payment acceptance.
I expect some solution to be reached or international legal proceedings to commence. It’s a fascinating legal issue. In such proceedings I would expect critical factors such as intent to pay and possession of adequate amounts of payment to be factors.
For now, the notion of default is symbolic rather than legal.
This analysis is too level headed for MSM print. It would never get editorial approval. Not hyperbolic enough for twitter/reddit clicks.
Posted on 6/27/22 at 10:30 am to GumboPot
The bond holders are under pressure.
They want to get paid. If they don’t take the rubles somehow and opt for legal proceedings under default declaration then they face an uncertain legal outcome and, even in the event of international legal declaration of default, they probably will never recoup their losses.
At the same time, they are under enormous pressure to not accept payment.
It will be interesting to see if some bond holders accept payment while others do not. How will that affect the legal proceedings, as a certain number must refuse payment and declare default and pursue legal proceedings, and, moreover, how will some bond holders accepting payment and not declaring default affect any legal outcome?
They want to get paid. If they don’t take the rubles somehow and opt for legal proceedings under default declaration then they face an uncertain legal outcome and, even in the event of international legal declaration of default, they probably will never recoup their losses.
At the same time, they are under enormous pressure to not accept payment.
It will be interesting to see if some bond holders accept payment while others do not. How will that affect the legal proceedings, as a certain number must refuse payment and declare default and pursue legal proceedings, and, moreover, how will some bond holders accepting payment and not declaring default affect any legal outcome?
Posted on 6/27/22 at 10:32 am to imjustafatkid
quote:
You think the country of Russia entered into an agreement that doesn't consider the ruble to be "legal tender?"
Yes. Nations do it all the time in international financing.
Posted on 6/27/22 at 10:35 am to LuckyTiger
quote:
I expect some solution to be reached or international legal proceedings to commence. It’s a fascinating legal issue. In such proceedings I would expect critical factors such as intent to pay and possession of adequate amounts of payment to be factors.
Flush the money through China, China pays the bill on their behalf. China returns the rubles via oil purchases.
Posted on 6/27/22 at 10:36 am to TerryDawg03
The globalists continue to try and attack Russia. It isn’t working.
Posted on 6/27/22 at 10:37 am to imjustafatkid
quote:
And...what? Does this really hurt Russia, or does it just hurt the countries that hold the debt and aren't accepting the payments?
Point is, just another piece of this game. The writers are claiming that this could affect their interest rate in the future, among other things. Don’t poke the already pissed off bear.
Posted on 6/27/22 at 10:39 am to Indefatigable
quote:
Yes. Nations do it all the time in international financing.
I'm sure lots of small nations do it. Not superpowers.
This post was edited on 6/27/22 at 10:40 am
Posted on 6/27/22 at 11:23 am to imjustafatkid
quote:
I'm sure lots of small nations do it. Not superpowers.
Every nation on earth does it.
Posted on 6/27/22 at 11:55 am to Bunk Moreland
quote:
think I heard there are American pension funds that depend on those payments? If so, I'm sure they're thrilled.
Small sacrifice to pay to stand up for democracy
/s
Posted on 6/27/22 at 1:21 pm to Indefatigable
quote:
Every nation on earth does it.
Then the superpowers are morons. There is no reason countries like the USA, Russia, or the collective European Union would ever need to enter into such a contract.
Posted on 6/27/22 at 1:39 pm to imjustafatkid
Allegations of Russia's default on foreign debt are unfounded, Kremlin's official spokesman Dmitry Peskov said. Russia made the adequate payment in May. The fact that the funds were not brought to recipients is "not our problem.”
LINK ... a_default/
LINK ... a_default/
Posted on 6/27/22 at 1:48 pm to TerryDawg03
US blocked Russian using USD to pay debts. US is intentionally creating Russian debt fault.
Initially, Russian was exempted from the Dollar ban to pay its its debt. But recently US Dept. of Treasure changed its mind.
My guess is US think American banks will not lose by doing this. The European banks may lose big so they will hate Russian more.
Russian is saying it is not Russian fault if the bonds holder not receiving the money. Hope this in turn, the bonds holders will pressure US Dept. of Treasure to back off.
That is why Russia need to pay the debts in Rubble.
Initially, Russian was exempted from the Dollar ban to pay its its debt. But recently US Dept. of Treasure changed its mind.
My guess is US think American banks will not lose by doing this. The European banks may lose big so they will hate Russian more.
Russian is saying it is not Russian fault if the bonds holder not receiving the money. Hope this in turn, the bonds holders will pressure US Dept. of Treasure to back off.
That is why Russia need to pay the debts in Rubble.
This post was edited on 6/27/22 at 1:53 pm
Posted on 6/27/22 at 2:09 pm to Lakeboy7
quote:
They will never borrow money from a western bank in the foreseeable future.
Ban bet
The Russia thing will be over soon, they have the upper hand. It is only being drug out now for politics. Europe will fold by Fall and the US will back down after midterm elections, if not sooner.
The only thing that will make Russia lose is a all out war against them from NATO and that would be the end of us all.
Posted on 6/27/22 at 2:10 pm to TerryDawg03
It's like we're trying to start a fricking nuclear war with these people
Posted on 6/27/22 at 2:14 pm to TerryDawg03
Lol. Russia should just send the payment holder a thermonuclear weapon for payment
Posted on 6/28/22 at 8:02 pm to TerryDawg03
It is funny that Euroclear, who refused the payment of rubles, is owned by J.P. Morgan, a leading global financial firm, that also just happens to be purchasing much of Russia’s debt.
Seems like a cycle, involving different currency & the ability to exchange them. SEC put the FED up, front-center, and Russia blew his brains out, then threw his money bag on the table and said “Here’s your due.”
Seems like a cycle, involving different currency & the ability to exchange them. SEC put the FED up, front-center, and Russia blew his brains out, then threw his money bag on the table and said “Here’s your due.”
This post was edited on 6/28/22 at 8:30 pm
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News