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Thread: Russian rouble suffers steepest drop in 16 years

  1. #11
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    Re: Russian rouble suffers steepest drop in 16 years

    Quote Originally Posted by radioman View Post
    While I agree with your sentiments, I'm doubtful that our sanctions are doing much damage to Russia.
    I think the plunging oil prices are the problem.
    If Russia hadn't marched into Crimea, maybe the rest of the world would be more sympathetic to their plight.
    Oh hell, I break out my violin for Russia.

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    Re: Russian rouble suffers steepest drop in 16 years

    Quote Originally Posted by radioman View Post
    While I agree with your sentiments, I'm doubtful that our sanctions are doing much damage to Russia.
    Correct. Sanctions are the least of their problems. Russia is a petro-state and the plunging global price of oil is rendering their economic system as unsustainable. Loss of faith panic in the ruble is now ensuing and everyone who can is now racing to convert their ruble holdings to more stable currencies. They are willing to take a loss now rather than gamble and lose everything down the road.

    In an economic-health sense, Russia is becoming Venezuela.


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    Re: Russian rouble suffers steepest drop in 16 years

    Quote Originally Posted by Simpleχity View Post
    Correct. Sanctions are the least of their problems. Russia is a petro-state and the plunging global price of oil is rendering their economic system as unsustainable. Loss of faith panic in the ruble is now ensuing and everyone who can is now racing to convert their ruble holdings to more stable currencies. They are willing to take a loss now rather than gamble and lose everything down the road.

    In an economic-health sense, Russia is becoming Venezuela.
    Funny how things work out.
    A few months ago, the USA was belittled--by some--as an impotent force, unable to stop Putin's land grab.
    Now, Russia's economy and Putin teeter on the brink.
    Bad karma, Vladimir.
    No matter how cynical I become toward politicians, it's never enough.

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    Re: Russian rouble suffers steepest drop in 16 years

    Maybe Putin will invade Afghanistan again and get those war machine makers to up their economy.

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    Re: Russian rouble suffers steepest drop in 16 years

    Quote Originally Posted by AJiveMan View Post
    Maybe Putin will invade Afghanistan again and get those war machine makers to up their economy.
    Poor, sad Afghanistan.
    Landlocked perpetual economic basket case.
    Warlords, one crappy gov't after another.
    The target of endless failed occupations.
    What's the attraction?
    Aside from opium, what do they produce?
    I hear rumblings about pipelines and valuable minerals, but nothing ever seems to happen.
    I'm grateful everyday that I was born in America.
    No matter how cynical I become toward politicians, it's never enough.

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    Re: Russian rouble suffers steepest drop in 16 years

    Everything is just beginning

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    Re: Russian rouble suffers steepest drop in 16 years

    Quote Originally Posted by radioman View Post
    Poor, sad Afghanistan.
    Landlocked perpetual economic basket case.
    Warlords, one crappy gov't after another.
    The target of endless failed occupations.
    What's the attraction?
    Aside from opium, what do they produce?
    I hear rumblings about pipelines and valuable minerals, but nothing ever seems to happen.
    I'm grateful everyday that I was born in America.
    Afghanistan - Wikipedia, the free encyclopedia

    The country's natural resources include: coal, copper, iron ore, lithium, uranium, rare earth elements, chromite, gold, zinc, talc, barites, sulfur, lead, marble, precious and semi-precious stones, natural gas, and petroleum, among other things.[137][138] In 2010, US and Afghan government officials estimated that untapped mineral deposits located in 2007 by the US Geological Survey are worth between $900 bn and $3 trillion.
    Rare earth element - Wikipedia, the free encyclopedia

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    Re: Russian rouble suffers steepest drop in 16 years

    Quote Originally Posted by radioman View Post
    While I agree with your sentiments, I'm doubtful that our sanctions are doing much damage to Russia.
    I think the plunging oil prices are the problem.
    If Russia hadn't marched into Crimea, maybe the rest of the world would be more sympathetic to their plight.
    Yeah, Putin has backed himself into a corner diplomatically.Russia has literally nothing to offer opponents and allies other than threats.
    Give a man a fish and he eats for a day. Teach a man to fish and he stops voting for the Free Fish party.

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    Re: Russian rouble suffers steepest drop in 16 years

    Quote Originally Posted by radioman View Post
    Poor, sad Afghanistan.
    Landlocked perpetual economic basket case.
    Warlords, one crappy gov't after another.
    The target of endless failed occupations.
    What's the attraction?
    Aside from opium, what do they produce?
    I hear rumblings about pipelines and valuable minerals, but nothing ever seems to happen.
    I'm grateful everyday that I was born in America.
    The mineral story is a dead end. The deposits have been known to exist for a long time but they are too deep underground to be economically feasible to harvest.
    Give a man a fish and he eats for a day. Teach a man to fish and he stops voting for the Free Fish party.

  10. #20
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    Re: Russian rouble suffers steepest drop in 16 years

    Quote Originally Posted by Simpleχity View Post
    Correct. Sanctions are the least of their problems. Russia is a petro-state and the plunging global price of oil is rendering their economic system as unsustainable. Loss of faith panic in the ruble is now ensuing and everyone who can is now racing to convert their ruble holdings to more stable currencies. They are willing to take a loss now rather than gamble and lose everything down the road.

    In an economic-health sense, Russia is becoming Venezuela.
    Indeed. Remember that it wasn't so long ago that Russia was boasting that it was their goal to have the rubble become the defacto currency for trading oil.

    Oh how fortunes change.
    Give a man a fish and he eats for a day. Teach a man to fish and he stops voting for the Free Fish party.

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