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originally posted by: Dimithae
a reply to: noeltrotsky
Putin has told his staff that they will be working through most of the holiday due to all the economic crisis going on.
Christmas is celebrated normally on the January 7th. The date is different because the Russian Orthodox church uses the old 'Julian' calendar for religious celebration days
a reply to: Agit8dChop
which means didly squat considering Russia doesn't celebrate Christmas and doesn't recognise Dec 25th as being such a big deal.
In a televised government session, Putin told ministers that they could not take off the customary period from January 1st through the 12th, saying, "For the government, for your agencies we cannot afford this long holiday, at least this year—you know what I mean."
Putin Cancels New Year's Holiday for Government Workers
MICHAEL HUDSON, ECONOMICS PROF., UNIV. OF MISSOURI, KANSAS CITY: It’s good to be here. Since the last time we talked, which was almost a month ago, the world’s geopolitics, its trade patterns and its military alliances, have radically changed. And as you point out, most of this is because Russia has given up on Europe and reoriented its oil and gas trade, and also its military technology and its military alliances, towards Eurasia.
originally posted by: BornAgainAlien
Here are some facts...
- The three big US rating agencies are political tools as we have seen many times before
- What those rating agencies give to Russia doesn`t matter, because they have been cut off of Western funding any ways and those are the ones who use them
- Russia has, because of being cut off by Western funding, liquidity problems
- Not only rumours, but China is going to provide liquidity if needed
- The loans of Russian businesses are mostly in the hands of European institutions, they are the ones who will get hurt by businesses who go bust
- Russian businesses going bust doesn`t mean Russia itself is going to default
- The Rouble support (buying) by the Russian Central Bank means a great deal of the money is still there (but at the Central Bank) and is worth as much as the Rouble is worth
- The Rouble is now right where it should be with a loss of 30/40% to the Dollar because of the lower oil price (with the strength now of the Dollar it should be about 1 to 40 without lower oil)
- With peak oil already have occurred (only to be offset with the US shale boom, which will quickly go down also), oil prices are most likely going to recover in the not so near future (it still might take a few years), and by so also the Rouble
- Pieces like the OP are written for political means very frequently
originally posted by: BornAgainAlien
Here are some facts...
- The three big US rating agencies are political tools as we have seen many times before
- What those rating agencies give to Russia doesn`t matter, because they have been cut off of Western funding any ways and those are the ones who use them
- Russia has, because of being cut off by Western funding, liquidity problems
- Not only rumours, but China is going to provide liquidity if needed
- The loans of Russian businesses are mostly in the hands of European institutions, they are the ones who will get hurt by businesses who go bust
- Russian businesses going bust doesn`t mean Russia itself is going to default
- The Rouble support (buying) by the Russian Central Bank means a great deal of the money is still there (but at the Central Bank) and is worth as much as the Rouble is worth
- The Rouble is now right where it should be with a loss of 30/40% to the Dollar because of the lower oil price (with the strength now of the Dollar it should be about 1 to 40 without lower oil)
- With peak oil already have occurred (only to be offset with the US shale boom, which will quickly go down also), oil prices are most likely going to recover in the not so near future (it still might take a few years), and by so also the Rouble
- Pieces like the OP are written for political means very frequently
These are historic times and we are just beginning to witness an incredible transfer of power.
originally posted by: LittleByLittle
China will drop the economic equivalent of an atomic bomb on US dollar if there really was a problem with Russia and will not allow Russia to fall since it will give the banking mafia of the west an advantage. Right now China have the banking mafia by the balls forcing them to sell of the physical gold at lower prices for worthless fiat dollar and the banking mafia is getting desperate needing a WW3 to get out of the mess and be able to continue the Ponzi schemes and not be found out by the masses in US.
The Chinese are waiting for the next derivative collapse that will nuke US economy from within one more time so that people cannot blame the Chinese for the problem even if they are not helping Americans out, but using the situation for their benefit and plan for the future where US becomes marginalized.
Turkey got the gas pipeline from Russia now, since the Syrian pipeline from Quatar became a bust when the western mafia could not get rid of Assad. So what is the Saudi/US hegemony going to do that they have not already tried to keep the Petro dollar alive? The dumping of oil on the world market will not change the fact that the derivative collapse is coming again.
The ratings agencies are much less political tools than most businesses. Making mistakes doesn't make them political tools.
When the subjectivity of these ratings are combined with the fact that the credit ratings market is overwhelmingly dominated by just three agencies-Moody’s, Standard & Poor’s and Fitch Ratings-all of which are American agencies which derive much of their income from the very Wall Street banks they claim to be impartially evaluating, the potential for abuse is rampant. It should be no surprise, then, that the historical record is rife with examples of the “Big Three” agencies’ corruption.
Many other Petro state currencies have performed significantly better than Russia's Ruble. The Ruble isn't 'where it should be' right now, even Putin says it is extremely undervalued.
This is pure fallacy. The government can print as many Rubles as it wants at any time...so with this logic they have unlimited money. The truth is once the foreign currency reserves are blown then the Russian Ruble blows in the wind and the government must start getting foreign reserves through bond auctions at exorbitant prices or by seizing foreign reserves companies and citizens have.
Peak Oil will save Russia? Hang on to that if it makes you comfortable.
Amazingly not everything written about Russia is political one way or the other.