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Russian default risk tops Iceland as crisis deepens

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posted on Oct, 25 2008 @ 12:37 PM
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Originally posted by sadchild01
Russia has massive natural gas and oil reserves alongside advanced nuclear technology, so no worries for Russia , the financial crunch is just temporary ...


The United States has massive resources as well such as coal and steel. It doesn't matter much if there is no demand and the prices are low. Russia's economy is heavily swayed to one thing (oil) while the United States economy is more diversified.


but the USA is heading for a massive economic collapse


The U.S. will probably be downgraded unless there is some convincing done to keep the U.S. at the top. If the U.S. is not the hegemony, nobody can take its place yet.





and how so ??? USA is totally debt ridden with massive fiscal deficits,national and external debt ......


We had all these problems when handing out aid to other countries before? What is your point? We can't send aid to other countries anymore?


Russia is much safer state than USA , USA is a slowily failing state and if OPEC and saudis abandon the dollar, consider it the death knell for the US empire


Nobody will "abandon" the dollar. Nobody is going to say, "We are selling our reserves today and switching to something else". They may diversify more. Or there may be a slow switching to a new currency. But nobody will actively sell all their dollars and collapse the U.S. dollar. Nobody would buy the dollar if all these countries were selling it. They would lose more value than they would gain. Think about it. That is the beauty of what the U.S. did. Economic slavery to the dollar.




lol, the world is going to laugh when USA will beg China for aid


Aid? I can't tell the future but I doubt the U.S. will ask for aid. Thankfully you can't tell the future either. You could become ruler of the world




posted on Oct, 25 2008 @ 12:45 PM
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Originally posted by Rockpuck
It will be America that will most likely (continue) financial aid to Russia to stop it from complete collapse. Again.


America provides financial aid to Russia? I'd like to see that, since they have a large national surplus of almost a trillion dollars and we have a large national debt of almost $11 trillion... I think Russia may be one of the few countries left propping us up by buying our treasuries (debt).



posted on Oct, 25 2008 @ 12:58 PM
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reply to post by RetinoidReceptor
 





The United States has massive resources as well such as coal and steel. It doesn't matter much if there is no demand and the prices are low. Russia's economy is heavily swayed to one thing (oil) while the United States economy is more diversified


incorrect ,Russia has a massive nuclear industry comparable to French , a massive and advanced weaponry industry, alongside aerospace indusrty




while the United States economy is more diversified

and the US economies manufacturing has been mostly outsourced



massive resources as well such as coal and steel.


silly, steel is manufactured and yes on coal reserves ,they aren't as strategic as oil and natural gas



Nobody will "abandon" the dollar. Nobody is going to say, "We are selling our reserves today and switching to something else". They may diversify more. Or there may be a slow switching to a new currency. But nobody will actively sell all their dollars and collapse the U.S. dollar. Nobody would buy the dollar if all these countries were selling it. They would lose more value than they would gain. Think about it. That is the beauty of what the U.S. did. Economic slavery to the dollar.


lol, not true, as many econmists and private fund managers will disagree with you
[edit on 25-10-2008 by sadchild01]

[edit on 25-10-2008 by sadchild01]



posted on Oct, 25 2008 @ 01:02 PM
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Originally posted by mythatsabigprobe

Originally posted by Rockpuck
It will be America that will most likely (continue) financial aid to Russia to stop it from complete collapse. Again.


America provides financial aid to Russia? I'd like to see that, since they have a large national surplus of almost a trillion dollars and we have a large national debt of almost $11 trillion... I think Russia may be one of the few countries left propping us up by buying our treasuries (debt).


no , its mainly China that props USA , by purchasing its treasury bills



posted on Oct, 25 2008 @ 01:02 PM
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This is right and wrong too!

On the BBC world service Last Night at 8.30pm GMT the Business program opened with one of Europ's leading Russian Analysts and he said




"Putin/Mendelev are like Lions with Oil at prices seen in the recent past, but if Oil goes below $60 a Barrel they Become weak Little Monkeys"


Im very surprised no one has mentioned that Both of The Russian Stock markets are closed until Thursday Next Week!

Russia does have the Foreign reserves it needs, however this is the Issue, everyone has huge amounts of $ as the reserve currency of their Country.

A sell of will happen, its as inevitable as people withdrawing money from banks and putting them in Building Societies for security in the UK.

The illusion of the strength of the $ will create a very swift sell off by China, Russia and other world major players when they need money to prop up their economies.

Anyone who truly believes the $ will be a "reserve currency" this time next year at the latest, well obviously does not know much about history or basic economics, its a Cert and it could start Monday or in 12 months time, but start it will my friends.

Kind Regards,

Elf



posted on Oct, 25 2008 @ 01:26 PM
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Originally posted by sadchild01

incorrect ,Russia has a massive nuclear industry comparable to French , a massive and advanced weaponry industry, alongside aerospace indusrty


They have become stronger due to oil. If there was no oil then Russia would almost be in the same boat as Saudi Arabia.



and the US economies manufacturing has been mostly outsourced


Okay?...



silly, steel is manufactured and yes on coal reserves ,they aren't as strategic as oil and natural gas


I know steel is manufactured
but steel is made from iron ore which the U.S. has. Iron ore is not really much of a resource if you cannot make steel anymore. So what if they aren't strategic? We aren't talking about strategy. You said Russia has immense resources. That is why their economy is good.



lol, not true, as many econmists and private fund managers will disagree with you


I've never heard from distinguished economists that countries will DUMP the U.S. dollar. I have heard that they will switch the reserves to either their currencies or diversify their reserves. Yet they will still keep the dollar. Just not as much as they do now. Which is contrary to what you said.

[edit on 25-10-2008 by RetinoidReceptor]



posted on Oct, 25 2008 @ 01:34 PM
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reply to post by RetinoidReceptor
 





TextI've never heard from distinguished economists that countries will DUMP the U.S. dollar. I have heard that they will switch the reserves to either their currencies or diversify their reserves. Which is contrary to what you said.


distinguished economists have to say that dominance of dollar will slowily disappear firstly ,possibly replaced by yuan ,euro ,dinar etc ..

secondly , heres what i said :



Russia is much safer state than USA , USA is a slowily failing state and if OPEC and saudis abandon the dollar, consider it the death knell for the US empire


by the way, anger the saudis and dollar will be kaboom , as saudis were responsible for dollar hegemony


You said Russia has immense resources. That is why their economy is good.


yes , it is the primary reason why Russian and middle eastern economies(particularly oil) are good

and commodities of strategic values enable great geopolitical power



posted on Oct, 25 2008 @ 01:42 PM
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Originally posted by sadchild01

distinguished economists have to say that dominance of dollar will slowily disappear firstly ,possibly replaced by yuan ,euro ,dinar etc ..


I'm confused are you saying that the dollar will be replaced by the yuan, euro or dinar as the RESERVE CURRENCY or the reserve currency for these specific countries?


secondly , heres what i said :



Russia is much safer state than USA , USA is a slowily failing state and if OPEC and saudis abandon the dollar, consider it the death knell for the US empire



Here is what you said to what? That Russia is better off strategically because of their oil and gas reserves? They are only better off if there is a lot of demand and prices are high. If the U.S. fails, that is 25% of the oil demand.


by the way, anger the saudis and dollar will be kaboom , as saudis were responsible for dollar hegemony


Trust me. The Saudis will not precipitously abandon the dollar anytime soon unless the situation is dire. The U.S. is its protector and could possibly become its attacker. It is a symbiotic relationship. Also, I believe Japan and China have more dollars in their reserves than Saudi Arabia.



and commodities of strategic values enable great geopolitical power


If there is huge demand for them I would agree. But that isn't the discussion/



posted on Oct, 25 2008 @ 03:40 PM
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I wonder, could WWIII be caused by failure to pay on debts? If one of the larger countrys gets in a bad place and starts to call in debts...I wonder if the repo man will be equipped with a nato issued rifle?



posted on Oct, 25 2008 @ 04:07 PM
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Originally posted by sadchild01
distinguished economists have to say that dominance of dollar will slowily disappear firstly ,possibly replaced by yuan ,euro ,dinar etc ..


Can you provide some links to these distinguished economists' reports? I'd be interested to read that.


Russia has massive natural gas and oil reserves alongside advanced nuclear technology, so no worries for Russia , the financial crunch is just temporary ...

but the USA is heading for a massive economic collapse


Yes, there's a lot for Russia to worry about, just like there is in every country worldwide. The degree, the timeline, the recovery - those will vary, but no country is exempt from concern or blame at this point.



posted on Oct, 25 2008 @ 04:14 PM
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Russia economy failing has me concerned more than a recession within the good ol' USA. Russia has vast natural resources and it was making money from these sales. Now, there is a failure of what limited capitalism that was working with the country.

The old communist guard will start spreading their old taglines about how the country didn't have these problems under the brotherhood of communism. Nationalism has already spread within the country, so this wouldn't be a hard sell with controlled media.

Time will tell, but I wouldn't count Putin and communism totally dead, comrade.




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