Russian rouble in free fall

[3NUMBAS]

https://www.express.co.uk/news/world/1981217/russian-economy-freefall-ruble-crumbles/amp

 

the old fella really in trouble now 

[CallumWK]

9 minutes ago, 3NUMBAS said:

https://www.express.co.uk/news/world/1981217/russian-economy-freefall-ruble-crumbles/amp

 

the old fella really in trouble now 

 

Russia has one of the largest gold reserves from any country in the world, and will pay their imports most likely in US$, of which I guess they also have large reserves.

But I think someone else is in bigger trouble, with the winter at the front door.

 

This will prevent the bank from handling transactions related to energy trade which will mean European customers are unable to pay for Russian gas.

 

Say thanks again to the dement criminal in the White House

[NoDisplayName]

What exactly does this mean?

 

The ruble has essentially been made illegal in western countries, Russia has been banned from Swift, transactions in that currency is difficult.

 

That means the exchange rate is irrelevant.

 

The IMF has upgraded their estimate of Russian GDP, Russians aren't pushing wheelbarrows of rubble to the bakery for a loaf of moldy bread.  Their economy is doing just fine.

 

Why, they even have a surplus of washing machines to catapult at the retreating nazis!

[NativeBob]

2 minutes ago, NoDisplayName said:

Why, they even have a surplus of washing machines to catapult at the retreating nazis!

That's good one! 

Remark on that BS about russians looting everything including washing machines ))) #ROFL

 

so called "free-fall" is irresponsible style of journalism in UK (and other countries).

[3NUMBAS]

https://cepa.org/article/kremlin-options-narrow-as-ruble-slumps/

[3NUMBAS]

https://www.newstatesman.com/business/economics/2024/11/russias-economy-is-doomed

[Jingthing]

On 11/27/2024 at 3:57 PM, NoDisplayName said:

What exactly does this mean?

 

The ruble has essentially been made illegal in western countries, Russia has been banned from Swift, transactions in that currency is difficult.

 

That means the exchange rate is irrelevant.

 

The IMF has upgraded their estimate of Russian GDP, Russians aren't pushing wheelbarrows of rubble to the bakery for a loaf of moldy bread.  Their economy is doing just fine.

 

Why, they even have a surplus of washing machines to catapult at the retreating nazis!

Vladmir thanks you.

[3NUMBAS]

https://www.cnbc.com/amp/2024/11/28/russia-tries-to-stem-panic-over-plummeting-ruble-central-bank-steps-in.html

[NoDisplayName]

57 minutes ago, Jingthing said:

Vladmir thanks you.

 

For what?

 

For asking questions?

 

For not accepting propaganda at face value?

 

C'mon, man!

I'm not a Harris supporter!!!!!!!!!!!

[scubascuba3]

Looks like ruble in an uncontrolled nose dive, long overdue 

[RuamRudy]

On 11/27/2024 at 4:57 PM, NoDisplayName said:

What exactly does this mean?

 

The ruble has essentially been made illegal in western countries, Russia has been banned from Swift, transactions in that currency is difficult.

 

That means the exchange rate is irrelevant.

 

The IMF has upgraded their estimate of Russian GDP, Russians aren't pushing wheelbarrows of rubble to the bakery for a loaf of moldy bread.  Their economy is doing just fine.

 

Why, they even have a surplus of washing machines to catapult at the retreating nazis!

 

Russia still needs to buy imported goods - triangular arbitrage means, if my memory serves me correctly, that the value of the rouble against the Tenge, Yuan or whatever currency they wish to trade in will still reflect the USD value. Imported everything will be more expensive. 

[NoDisplayName]

4 hours ago, RuamRudy said:

 

Russia still needs to buy imported goods - triangular arbitrage means, if my memory serves me correctly, that the value of the rouble against the Tenge, Yuan or whatever currency they wish to trade in will still reflect the USD value. Imported everything will be more expensive. 

 

Triangu-whuuua?

 

BRICS no need dolla, BRICS no use dolla.

 

They may trade in local currencies, use gold, trade commodities. use their replacement for swift, many options.

 

What imported goods do they need that can't be provided elsewhere?  They need nothing from the USA.  They are satisfied with two genders, and are not interested in regime change.

 

Dollar is reserved for personal hygiene purposes.  Those fiat bills can soak up more than just $36.5 TRILLION in debt!

[NoDisplayName]

19 hours ago, 3NUMBAS said:

https://www.cnbc.com/amp/2024/11/28/russia-tries-to-stem-panic-over-plummeting-ruble-central-bank-steps-in.html

 

Obsession.

It's not only for Harris supporters anymore.

[RuamRudy]

2 hours ago, NoDisplayName said:

BRICS no need dolla, BRICS no use dolla.

 

They may trade in local currencies, use gold, trade commodities. use their replacement for swift, many options

 

That's great if the supplier trade only within BRICS, but in a global economy, that's unlikely. As for commodity trading, not many non government actors have the means to deal in oil. 

 

2 hours ago, NoDisplayName said:

What imported goods do they need that can't be provided elsewhere?  They need nothing from the USA. 

 

Precision engineering, aircraft parts, high spec bearings, electronics - all the things that Russia is incapable of manufacturing domestically and must be procured from international players. 

[3NUMBAS]

https://news.sky.com/story/panic-in-russia-as-rouble-slips-to-symbolic-mark-against-us-dollar-13262344
 

panic

[3NUMBAS]

Ball bearings from Sweden,it won’t happen 

[stevenl]

5 hours ago, NoDisplayName said:

 

Triangu-whuuua?

 

BRICS no need dolla, BRICS no use dolla.

 

They may trade in local currencies, use gold, trade commodities. use their replacement for swift, many options.

 

What imported goods do they need that can't be provided elsewhere?  They need nothing from the USA.  They are satisfied with two genders, and are not interested in regime change.

 

Dollar is reserved for personal hygiene purposes.  Those fiat bills can soak up more than just $36.5 TRILLION in debt!

How is the ruble doing compared to the brics countries?

[NoDisplayName]

3 hours ago, RuamRudy said:

Precision engineering, aircraft parts, high spec bearings, electronics - all the things that Russia is incapable of manufacturing domestically and must be procured from international players. 

 

They have a space program that can reach, ummm........space, and a missile program that can go boomski.  I hear they even have piers that float!  Whatever they can't produce, they can get from China.  I'm shirley they'll do fine.

[RuamRudy]

30 minutes ago, NoDisplayName said:

 

They have a space program that can reach, ummm........space, and a missile program that can go boomski.  I hear they even have piers that float!  Whatever they can't produce, they can get from China.  I'm shirley they'll do fine.

 

I don't claim to be a Russia expert but I lived in Eastern Russia for 8 years, working on a Russian /European multi billion dollar oil and gas joint venture. The largest Russian content contribution to the project was... concrete. Everything high tech or precision engineered came from abroad. They may have a space program but I bet it relies heavily on imported technology and components. 

[CallumWK]

1 hour ago, NoDisplayName said:

They have a space program that can reach, ummm........space,

 

Wasn't there a member here who claimed to be involved in that.

 

Sadly he has gone AWOL since November 5

Edited 17 hours ago by CallumWK

[NoDisplayName]

19 minutes ago, RuamRudy said:

 

I don't claim to be a Russia expert but I lived in Eastern Russia for 8 years, working on a Russian /European multi billion dollar oil and gas joint venture. The largest Russian content contribution to the project was... concrete. Everything high tech or precision engineered came from abroad. They may have a space program but I bet it relies heavily on imported technology and components. 

 

I don't claim to be an expert either, but it seems to me that obsessively posting anti-Russian propaganda articles, much like obsessively posting anti-China screeds or anti-Trump hit pieces, is something to be ridiculed.

 

 

[NanLaew]

With Russia STILL the world's second biggest oil exporter, where everything is paid in Benjamins, the rubles forex correction means absolutely nothing.

 

Despite the Nordstream outage and so-called embargos, Europe is still buying loads of Russian gas, it just comes the 'long way round' to get there. If not via southern Europe and Turkish pipelines, there's at least two, huge, Russian-owned but Hong Kong flagged, icebreaker-hulled LNG carriers traversing the Baltic to discharge gas into import pipelines in Zeebrugge. The Vladimir Rusanov departed there about ten days ago, and sailing back to Yamal for another load. Earlier this year, they started regular deliveries to Jiangsu in China.

 

One of the deals that was signed on the cusp of COP 29 in Baku was the 'rebranding' of Russian oil as Azerbajani oil so that the European importers can avoid those nasty sanctions for buying the stuff, something that India's Modi has absolutely no qualms about.

Edited 16 hours ago by NanLaew

[mikebike]

7 minutes ago, NanLaew said:

With Russia STILL the world's second biggest oil exporter, where everything is paid in Benjamins, the rubles forex correction means absolutely nothing.

 

Despite the Nordstream outage and so-called embargos, Europe is still buying loads of Russian gas, it just comes the 'long way round' to get there. If not via southern Europe and Turkish pipelines, there's at least two, huge, Russian-owned but Hong Kong flagged, icebreaker-hulled LNG carriers traversing the Baltic to discharge gas into import pipelines in Zeebrugge. The Vladimir Rusanov departed there about ten days ago, and sailing back to Yamal for another load. Earlier this year, they started regular deliveries to Jiangsu in China.

 

One of the deals that was signed on the cusp of COP 29 in Baku was the 'rebranding' of Russian oil as Azerbajani oil so that the European importers can avoid those nasty sanctions for buying the stuff, something that India's Modi has absolutely no qualms about.

Let me hear you say the same when 47 tanks the USA economy 😂😂😂

[NanLaew]

12 hours ago, mikebike said:

Let me hear you say the same when 47 tanks the USA economy 😂😂😂

 

Sorry @mikebike, struggling to see the relevance here. Can you expand that opinion a wee bit?

[NanLaew]

14 hours ago, RuamRudy said:

 

I don't claim to be a Russia expert but I lived in Eastern Russia for 8 years, working on a Russian /European multi billion dollar oil and gas joint venture. The largest Russian content contribution to the project was... concrete. Everything high tech or precision engineered came from abroad. They may have a space program but I bet it relies heavily on imported technology and components. 

 

So a higher quality, western-style construction that will be reliably producing Russian oil and gas until the cows come home. If they are anything like the Chinese, where I lived and worked for 8 years, the Russians will have copied any technology needed to keep pumping. They probably have legions of Chinese doing this for them already.

Edited 3 hours ago by NanLaew

[NanLaew]

On 11/28/2024 at 5:27 PM, 3NUMBAS said:

https://cepa.org/article/kremlin-options-narrow-as-ruble-slumps/

 

On 11/28/2024 at 5:46 PM, 3NUMBAS said:

https://www.newstatesman.com/business/economics/2024/11/russias-economy-is-doomed

 

Very good reading, thanks.

[RuamRudy]

1 hour ago, NanLaew said:

 

So a higher quality, western-style construction that will be reliably producing Russian oil and gas until the cows come home. If they are anything like the Chinese, where I lived and worked for 8 years, the Russians will have copied any technology needed to keep pumping. They probably have legions of Chinese already doing this for them already.

 

That's true to an extent but I am skeptical that they can produce key components - compressor bearings, dry gas seals etc. Even the rail network is at breaking point because of the lack of availability of high integrity bearings. These types of items seem relatively trivial in isolation but they are all critical components of an integrated system. 

 

At the extreme end, think why Taiwan is so critical to chip manufacturing - if it was easy, the Chinese would have copied it  years  ago 

[KhunBENQ]

9 minutes ago, RuamRudy said:

At the extreme end, think why Taiwan is so critical to chip manufacturing - if it was easy, the Chinese would have copied it  years  ago

The Chinese have made considerable and surprising progress (how could they with all the sanctions)?

But the key company is ASML based in the Netherlands.

And the Chinese are a long way ago to copy their machines and know how.

Chinese are struggling to produce 28 nm chips while TSMC (Taiwan) is on 4 nm and progressing to 3 and 2 nm with the latest ASML machines.

 

Edited 2 hours ago by KhunBENQ

[NanLaew]

45 minutes ago, RuamRudy said:

 

That's true to an extent but I am skeptical that they can produce key components - compressor bearings, dry gas seals etc. Even the rail network is at breaking point because of the lack of availability of high integrity bearings. These types of items seem relatively trivial in isolation but they are all critical components of an integrated system. 

 

At the extreme end, think why Taiwan is so critical to chip manufacturing - if it was easy, the Chinese would have copied it  years  ago 

 

Meanwhile, many western chip developers and manufacturers have factories in China. It has already gone way, way beyond fake designer clothing and domestic applicances.