Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

Russia has defaulted! šŸ˜šŸ˜šŸ˜

Rube Reaper

Elite
Joined
Nov 15, 2021
Messages
2,836
ā€œS&P Global Ratings issued the downgrade to ā€œselective defaultā€ late Friday after Russia arranged to make foreign bond payments in rubles on Monday when they were due in dollars. It said it didnā€™t expect Russia to be able to convert the rubles into dollars within the 30-day grace period allowed.ā€


S&P said in a statement that its decision was based partly on its opinion that sanctions on Russia over its invasion of Ukraine ā€œare likely to be further increased in the coming weeks, hampering Russiaā€™s willingness and technical abilities to honor the terms and conditions of its obligations to foreign debtholders.ā€
 

dirtytoeddawg

Legendary
Joined
Jan 9, 2021
Messages
2,407
Russia has been steadily hording physical gold while growing it's paper debt on purpose.

They want this outcome.
I find it extremely interesting this article states that recent debt payments have been allowed in rubles rather than dollars.

Itā€™s also interesting that the ruble has more or less recovered to pre invasion levels vs the dollar

Itā€™s almost as if our sanctions are far more bark than bite and that a large portion of the world are either ignoring them, circumventing them, or in the EUs case still leveraged so badly with energy not imposing them.
 

TTUcamper

Elite
Joined
Jan 8, 2021
Messages
925
I find it extremely interesting this article states that recent debt payments have been allowed in rubles rather than dollars.

Itā€™s also interesting that the ruble has more or less recovered to pre invasion levels vs the dollar

Itā€™s almost as if our sanctions are far more bark than bite and that a large portion of the world are either ignoring them, circumventing them, or in the EUs case still leveraged so badly with energy not imposing them.


They basically used fiat debt to buy commodities and switched their currency and economy to a commodity based system.

Now they are just walking away from all the paper they know is Worthless.

Our corporations and billionaires do the same thing.
 
Top Bottom