23 June 2022, 11:19 AM
wtgRussian ruble gains strength
Or does it....
quote:
Russia’s ruble hit its strongest level in 7 years despite massive sanctions. Here’s why
https://www.cnbc.com/2022/06/2...spite-sanctions.html
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We are all visitors to this time, this place. We are just passing through. Our purpose here is to observe, to learn, to grow, to love… and then we return home. - Australian Aboriginal proverb
Bazootiehead-in-training
27 June 2022, 12:29 PM
DanielRussia defaulted for the first time since 1918.
27 June 2022, 12:38 PM
CHASquote:
Originally posted by Daniel:
Russia defaulted for the first time since 1918.
The Romanovs and billions disappeared about that time.
27 June 2022, 03:24 PM
Piano*DadThe Russians had the resources to pay on the debt, and were oh so willing to do so. We simply didn't let them, pushing them into default. To the bondholders it doesn't matter. Their bonds don't have an escape clause for Russia in the case of sanctions. So yes, they are indeed in default.
It matters not a whit at present because they aren't borrowing on the international market these days. But it does mean that they have no capacity to borrow on the open market in the future unless and until "things" change.
If their needs change, they could always borrow government to government, say, from China. That would get around both sanctions and the complications of default affecting lenders' perception of risk. But then they would be at the whims and pleasure of another government ...