TT Exchange Russian Ruble = 0.0 baht

[Jingthing]

2 hours ago, sandyf said:

They are going to suffer either way, all sanctions ever achieve is making the population suffer, never those in control.

Not always never.

[billd766]

On 2/28/2022 at 11:32 AM, aussiexpat said:

I just watched it fall off a cliff on XE in a matter of minutes since you wrote the above

Wow. That is one helluva drop.

[billd766]

4 hours ago, bert bloggs said:

No money no flights, I bet a lot here are in dire straights

If Aeroflot or any other Russian airline flies out f Russia and lands somewhere, I wonder how they will pay for the fuel, landing fees and parking fees? Also how will the crews pay for their hotels and food etc unless their imprest has no rubles but plenty of hard currency like USD, GBP or Euro?

[DrDave]

Currently, K-Bank is not accepting rubles (neither hard currency or T/T). Bangkok Bank has a 50%+ spread between buy and sell (.24 and .38) and is not accepting T/T.

[Henryford]

16 hours ago, sandyf said:

They are going to suffer either way, all sanctions ever achieve is making the population suffer, never those in control.

Maybe the only way to get rid of Putin is to make the Russians suffer so much they oust him.

[wombat]

On 2/25/2022 at 2:59 PM, Lacessit said:

Wars cost money, the USA found that out as far back as Vietnam.

For Russia, the difference is the ruble has no status as a stable or trusted currency. Whereas America can go on printing dollars, safe in the knowledge it is the world's reserve currency.

Putin was a KGB operative, then a taxi driver, now a dictator. I doubt he knows anything about money except how to steal it.

Smart enough over the last 8 years to reshape the Russian economy so that sanctions will do sweet fanny Adam's 

[RichardColeman]

13 minutes ago, Henryford said:

Maybe the only way to get rid of Putin is to make the Russians suffer so much they oust him.

Hasn't really worked that well for the North Korean people has it. But here's hoping.

 

I still think someone close to Putin will take him out

 

Ruble currently 1 RUB = 0.29863 THB - shame - that's a drop from near 0.44, or a 33% loss ish,  and it's only that high as the Russian bank put interest from 10% to 20%.

[Lacessit]

1 minute ago, wombat said:

Smart enough over the last 8 years to reshape the Russian economy so that sanctions will do sweet fanny Adam's 

I suggest you try telling that to the oligarchs, whose assets outside Russia are now frozen. The central bank, who can't support the ruble with forex transactions. The ruble is now worth less than one US cent.

Foreign companies in Russia are stampeding for the exits, what's the point of making a profit if you can't move it?

The official interest rate in Russia has been doubled to 20%. In Australia, it's 0.1%. If that doesn't tell you what damage sanctions are wreaking on the Russian economy, I give up.

 

[sandyf]

1 hour ago, Henryford said:

Maybe the only way to get rid of Putin is to make the Russians suffer so much they oust him.

Good theory but it hasn't worked in other places like Afghanistan, North Korea, Myanmar, Iran etc.

The first incursion was not as successful as anticipated and now Russia will just overrun Ukraine and a new norm will be established. The BRICS countries have a large proportion of global GDP so if they stick together they can get by without the west.

Putin may well have lost the plot but I doubt it, I think he has been putting a plan in place since he first came to power to extend Russian influence.

[sandyf]

1 hour ago, Lacessit said:

If that doesn't tell you what damage sanctions are wreaking on the Russian economy, I give up.

Remind us how sanctions have altered things in Myanmar.

 

We’ve been through all this before, from the time the US and European Union imposed sanctions against Myanmar in September 1988, following the military’s brutal suppression of democracy protests known as the 8888 uprising.

https://theconversation.com/sanctions-against-myanmars-junta-have-been-tried-before-can-they-work-this-time-158054

[Lacessit]

3 hours ago, sandyf said:

Remind us how sanctions have altered things in Myanmar.

 

We’ve been through all this before, from the time the US and European Union imposed sanctions against Myanmar in September 1988, following the military’s brutal suppression of democracy protests known as the 8888 uprising.

https://theconversation.com/sanctions-against-myanmars-junta-have-been-tried-before-can-they-work-this-time-158054

The sanctions in Myanmar are lip service, too much money in the resources there. AFAIK the junta is not having overseas assets frozen, or seized. The country is still part of the SWIFT system.

Half-a$$ed sanctions don't work, they need to be full on.

[Jingthing]

6 hours ago, Henryford said:

Maybe the only way to get rid of Putin is to make the Russians suffer so much they oust him.

Putin does not care how much his people suffer.

[Banana7]

On 3/1/2022 at 1:30 PM, Banana7 said:

Reuters reports that MasterCard and Visa are complying with sanctions against Russia. I am guessing Russian based MasterCards and Visa cards are no longer working. I wonder if some Russians will be going home early?

 

Now Russians and Ukrainians are encountering financial issues here in Thailand. Story starts here:

 

[stigar]

8 minutes ago, Banana7 said:

Now Russians and Ukrainians are encountering financial issues here in Thailand. Story starts here:

 

And today Putin told russian people their NOT allowed to bring any kind of foreign currencys out of russia.Not even cash

[Banana7]

Russians here in Pattaya without money will be okay, just contact the local Russian mafia for a loan.

[sandyf]

1 hour ago, Lacessit said:

The sanctions in Myanmar are lip service, too much money in the resources there. AFAIK the junta is not having overseas assets frozen, or seized. The country is still part of the SWIFT system.

Half-a$$ed sanctions don't work, they need to be full on.

SWIFT has been blown out of proportion, it is nothing more than a messaging service. Do you really believe that money couldn't be moved before SWIFT came along. Many countries abandoned SWIFT years ago in favour of IBAN, the 16 digit codes being more secure than the SWIFT 8 or 11 digits, and now there is also the BRICS Payment System and the Chinese payment system CIPS.

Only time will tell the outcome, it usually does.

[Lacessit]

40 minutes ago, sandyf said:

SWIFT has been blown out of proportion, it is nothing more than a messaging service. Do you really believe that money couldn't be moved before SWIFT came along. Many countries abandoned SWIFT years ago in favour of IBAN, the 16 digit codes being more secure than the SWIFT 8 or 11 digits, and now there is also the BRICS Payment System and the Chinese payment system CIPS.

Only time will tell the outcome, it usually does.

You may be right, but that does not explain why the Russian official interest rate is now 20%.

The central bank has been blocked from using forex to prop up the ruble, so perhaps the other payment systems you mention are also under sanction.

[Mavideol]

2 hours ago, Jingthing said:

Putin does not care how much his people suffer.

Putin ‘doesn’t care’ about sanctions because he believes Russians ‘can suffer’, says defence secretary

https://au.yahoo.com/news/putin-doesn-t-care-sanctions-081910696.html

[Mavideol]

29 minutes ago, Lacessit said:

You may be right, but that does not explain why the Russian official interest rate is now 20%.

The central bank has been blocked from using forex to prop up the ruble, so perhaps the other payment systems you mention are also under sanction.

Russia Bans Coupon Payment to Foreigners on $29 Billion in Bonds

https://au.yahoo.com/finance/news/russia-bans-transfer-ruble-bond-172007551.html

[Mavideol]

1 hour ago, Banana7 said:

Russians here in Pattaya without money will be okay, just contact the local Russian mafia for a loan.

or sell a kidney 555

[Jingthing]

2 minutes ago, Mavideol said:

Russia Bans Coupon Payment to Foreigners on $29 Billion in Bonds

https://au.yahoo.com/finance/news/russia-bans-transfer-ruble-bond-172007551.html

Mistake to invest in the big gas station in the first place.

[Jingthing]

Just now, Mavideol said:

or sell a kidney 555

Will we see Russian beggars on the beaches of Jomtien?

[Mavideol]

1 minute ago, Jingthing said:

Will we see Russian beggars on the beaches of Jomtien?

but you were sad about my comment... just heard from a russian living near me that some people on russia country side had opted to sell organs in order to buy food, he said there is famine but nobody speaks about it like nobody speaks about 18-19 year boys forced into the army under the pretext of training and were sent to ukraine, the guy is suffering, he has been here for 3 months, run out of cash, can't use the cc and doesn't want to go back to russia, if he does they will take/force him to the army

[Jingthing]

8 minutes ago, Mavideol said:

but you were sad about my comment... just heard from a russian living near me that some people on russia country side had opted to sell organs in order to buy food, he said there is famine but nobody speaks about it like nobody speaks about 18-19 year boys forced into the army under the pretext of training and were sent to ukraine, the guy is suffering, he has been here for 3 months, run out of cash, can't use the cc and doesn't want to go back to russia, if he does they will take/force him to the army

Sounds sad. 

[Mavideol]

Just now, Jingthing said:

Sounds sad. 

that's reality

[jollyhangmon]

That bloke here makes a couple good points, had me at 'Hiii' anyway, 555 ...

 

 

[Lacessit]

40 minutes ago, Mavideol said:

Russia Bans Coupon Payment to Foreigners on $29 Billion in Bonds

https://au.yahoo.com/finance/news/russia-bans-transfer-ruble-bond-172007551.html

I'd say that is getting close to defaulting. Sometimes, other countries step in to prevent default. Mexico and Greece are examples. The only country I can see who would do that for Russia is China, and they would want more than a pound of flesh in return.

Defaults trash individual investors, pension funds, and bondholders. That makes for a lot of angry people.

[scubascuba3]

Stock exchange still closed.

 

Link has a paywall so probably not worth clicking

 

https://www.bloomberg.com/news/articles/2022-03-02/russia-keeps-stock-market-closed-in-longest-shutdown-since-1998

[pixelaoffy]

On 2/25/2022 at 3:22 PM, hughrection said:

Might be a good idea to buy a lot if you can wait for the long term payout. ????

Like when hell freezes over 

[DrDave]

5 hours ago, Mavideol said:

... the guy is suffering, he has been here for 3 months, run out of cash, can't use the cc and doesn't want to go back to russia, if he does they will take/force him to the army

Or force him to go work on the construction of Putin's new pipeline in Siberia.