The crash thread

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Pixel8r
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The crash thread

Post by Pixel8r »

Bob Moriarty has a very similar voice to Robert F Kennedy.

Catastrophic Crash Is Here - Stocks, Bonds & Cryptos | Bob Moriarty

"Money is Gold, and nothing else"
(As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1912)
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Re: The crash thread

Post by Laura »

https://thesaker.is/russian-judo-tears-the-west-apart/

Russian Judo Tears the West Apart

The official Russian blacklist of hostile sanctioning nations includes the US, the EU, Canada and, in Asia, Japan, South Korea, Taiwan and Singapore (the only one from Southeast Asia). The Global South should be aware there are no nations from West Asia, Latin America and Africa.

Moscow has not even announced a package of what could be defined as “counter-sanctions from hell”. Yet a decree on “foreign exchange obligations to foreign creditors” which allows Russian companies to settle their debts in rubles is already an eye-opener.

Economist Yevgeny Yushchuk defined it as a “nuclear retaliatory landmine”.

It all revolves around a new presidential decree, signed last Saturday: “On Temporary Order of Obligations to Certain Foreign Creditors”.

It works like this: to pay for loans obtained from a sanctioning country exceeding 10 million rubles a month, a Russian company does not have to make a transfer. They ask for a Russian bank to open a correspondent account in rubles under the creditor’s name. Then the company transfers rubles to this account at the current exchange rate, and it’s all perfectly legal.

Payments in foreign currency only go through the Central Bank on a case-by-case basis. They must receive special permission from the Government Commission for the Control of Foreign Investment.

As I discussed with Michael Hudson, what this means in practice is that the bulk of the $478 billion or so in Russian foreign debt may “disappear” from the balance sheets of Western banks. The equivalent in rubles will be deposited somewhere, in Russian banks, but Western banks, as it stands, can’t access it.
"Human beings are poor examiners, subject to superstition, bias, prejudice and a profound tendency to see what they want to see rather than what is really there." - M. Scott Peck
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Re: The crash thread

Post by Laura »

14 years old. Could not find a home. Will this thread do?
"Human beings are poor examiners, subject to superstition, bias, prejudice and a profound tendency to see what they want to see rather than what is really there." - M. Scott Peck
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