• Russian rouble plunges amid 'investor exodus'
    21 replies, posted
[url]http://www.reuters.com/article/2014/08/08/russia-markets-idUSL6N0QE38N20140808[/url] [quote]The rouble ended the week close to an all-time low following Moscow's decision to ban most food imports from the West in retaliation for sanctions over Ukraine and warnings from NATO that Russia appeared ready to invade its neighbour. Analysts said any positive impact on Russia's balance of payments from Thursday's ban was outweighed by an investor exodus due to the conflict since mid-April between pro-Russian rebels and government forces in eastern Ukraine. "The markets are preparing for the worst based on what's going on in east Ukraine, where the fighting continues, no one wants to agree with anyone and Russia is building up troops on the border," said Igor Akinshin from Alfa Bank. The rouble eased 1.5 percent versus the dollar this week , not far off an all-time low of 36.73 reached in March after Russia annexed Ukraine's Crimea peninsula. Dollar denominated Russian stocks were down 3.5 percent. The ban on all meat, fish, dairy, fruit and vegetables from the United States, the 28 European Union countries, Canada, Australia and non-EU member Norway will last a year, showing President Vladimir Putin is preparing for a long stand-off. A stronger than expected measure, it could isolate Russian consumers to a degree unseen since Soviet days. Sanctions and the currency's slide have already bankrupted several airlines and tourist firms, ruining summer holidays for many Russians.[/quote]
Well done you fucking idiots
[IMG]http://www.ridiculism.com/albums/album01/exodous.jpg[/IMG]
looks like the russian economy is about to be reduced to rub(b)le :v:
Russian economy is mainly based on natural ressources and energy tho, that'd be a mistake to consider the value of the rouble as a critical hit on Russia.
[QUOTE=headshotter;45635840]Russian economy is mainly based on natural ressources and energy tho, that'd be a mistake to consider the value of the rouble as a critical hit on Russia.[/QUOTE] Oil and mineral exports can't keep a currency afloat alone, any significant variance in production targets or deliveries would render it completely volatile
[QUOTE=Sableye;45635882]Oil and mineral exports can't keep a currency afloat alone, any significant variance in production targets or deliveries would render it completely volatile[/QUOTE] Money is a very subjective thing, they're sitting on tons of oil and gas, now that's a practical thing. Besides the only people affected by the sanctions are going to be your day to day casual russian buying his stuff with slighty higher prices.
Are they really this fucking stupid? It's going to last for a year too? Good job russia.
[QUOTE=SpaceGhost;45636564]Are they really this fucking stupid? It's going to last for a year too? Good job russia.[/QUOTE] IDk if that is true, but there was an official press release, in which Russian government admits that their ban is unlawful and should be brought to court. By doing that, they hope to get other nations to negotiating table, so the situation in Ukraine and sanctions could be talked about, not avoided. Probably a bullshit though, but that's "official version".
Well, we'll see. I don't think lasting economic harm can be inflicted until Europe stops flipping them the bird with one hand and buying oil and gas with the other. Maybe over the long term, restricting the flow of money in and out of Russia can retard their economic growth, but I doubt it would be enough to really change anything. Russia could fight back by restricting gas deliveries. Yes, it would hurt them, but the question is whether forgoing those gas sales would hurt Russia more than a sudden crunch in gas supplies would hurt Europe. I wonder what Russia's energy trade with China looks like.
Doesn't matter if the ruble is falling, it wont affect anything domestically
[QUOTE=LVL FACTORY;45637729]Doesn't matter if the ruble is falling, it wont affect anything domestically[/QUOTE] If a global currency loses value, internal inflation is the first thing to happen.
Can these sanctions really be effective in the long term? They only isolate Russia from North America and Western Europe. The rest of the world will still happily do business with them. If anything it will only accelerate the decline of Western economic power in favor of the East, which people have been predicting since before the financial crisis.
Wow, I'm not sure what to think of this whole russia situation anymore. I have a bad feeling shit is only gonna get worse
Guys, remember this: "An apple a day keeps the Putin away."
[QUOTE=SpaceGhost;45636564]Are they really this fucking stupid? It's going to last for a year too? Good job russia.[/QUOTE] they can put massive pressure on a number of EU countries during that period.
lol imagine if u were a total retard and invested in russian currency
[QUOTE=Aphtonites;45635554][IMG]http://www.ridiculism.com/albums/album01/exodous.jpg[/IMG][/QUOTE] what game is this
[QUOTE=Solomon;45643586]what game is this[/QUOTE] Simcity 2000 special edition
Putin is an absolute idiot and he's going to starve his own people just so he can throw a tantrum.
let him just destroy his country go ahead
This is a massive deal, regardless of their natural resources.
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