nope thisOriginally Posted by Godwit
Judge
nope this
Revelation 14:7
Saying with a loud voice, Fear God, and give glory to him; for the hour of his judgment is come: and worship him that made heaven, and earth, and the sea, and the fountains of waters."not to do mine own will, but the will of him that sent me.”
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SoberLook.com @SoberLook 38m38 minutes ago
Chart: The Russian ruble down 4%. Over 60 to the dollar -
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Steve Collins @TradeDesk_Steve 10m10 minutes ago
USDRUB > 63 - RUB drop of over 7.5%
WSJ Central Banks @WSJCentralBanks 14m14 minutes ago
Russian ruble’s rout continues
http://on.wsj.com/12UwvFl
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Chart: Russian whole financial system in jeopardy as the ruble collapses to over $80 to the euro -
Esquire
Keep pushing you stupid idiot politicians.
They did this to Japan in the 30's and look what it got us.
This time we CAN be hit here at home and it will be a nightmare.
"Stand your ground. Don't fire unless fired upon, but if they mean to have a war let it begin here." Captain John Parker, to his Minute Men on Lexington Green, April 19 , 1775.
Senator
I'm trying to think of an instance from history where a major economic and military power had their economy and society melt down and did nothing about it. Can't seem to think of one at the moment, but I can think of lots that did and it wasn't good for anybody.
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The meltdown in the ruble is due to people trying to get their liquid assets out of Russia or at least out of the currency. Their central bank has been intervening, almost daily, but has been unable to stop the outflow.
The root cause is the decrease in the price of oil. Fracking in the US and elsewhere has contributed to that decrease, as has OPEC's decision not to hold back more of its production. The problem here is that once exploration and production investments are made, and a viable well is created, there is no business reason not to keep on pumping, since the additional cost of doing so is small. So it will be months before the price of oil recovers to a level that Russia needs.
The next step might be capital controls. Russia has already tried carrots of various kinds, and its citizens have not responded to those enticements.
More --
There is a rumor that Russia is selling gold
Last edited by Godwit; 12-15-2014 at 01:55 PM.
Banned
More on what I was talking about in the prior post --
And the speculation that oil producers are trying to hurt Iran, Russia, or terrorists ... that is also incorrect.
The reason prices have fallen sharply is supply and demand. It is important to remember that the short term supply and demand curves for oil are very steep.
If there is little unused capacity, it takes time for more oil production to become available since this involves huge capital intensive projects. And, in the short term, demand is fairly inelastic over a wide range of prices; for the most part people stay with their routines and keep their same vehicle. With two steep curves (supply and demand) we get the following:
http://www.calculatedriskblog.com/20...l-prices.html?
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RUSSIAN RATE HIKE STUNNER
According to a statement from Russia's central bank (translation), Russia has taken its key interest rate to 17% from 10.5%.
Last Thursday, Russia hiked rates to 10.5% from 8% in an effort to combat inflation which rose 9.1% year-on-year in November.
http://www.businessinsider.com/russi...-rates-2014-12
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What about Russia, which defaulted on its debts in 1998.
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