0 $
2,500 $
5,000 $
100 $
DECEMBER 2021

Russian Economy Is Shrinking Amid Falling Oil Prices, Global Economic Meltdown

Support SouthFront

Russian Economy Is Shrinking Amid Falling Oil Prices, Global Economic Meltdown

Click to see full-size image

On March 19th, the ruble lost more value, down to 81 for $1 and 89 for €1.

After the decline at the beginning of the day, the American currency jumped to 81.97 rubles, the European – to 89.6 rubles, these are the lowest values against both currencies from respectively January and February 2016.

The ruble recovered approximately 2% of its value since opening hours on the Moscow exchange.

Russian Economy Is Shrinking Amid Falling Oil Prices, Global Economic Meltdown

Click to see full-size image

Russian Economy Is Shrinking Amid Falling Oil Prices, Global Economic Meltdown

Click to see full-size image

According to Bloomberg, the ruble came in second in terms of volatility among world currencies against the dollar, with only the Mexican peso being more volatile.

An economist and leading expert at the Institute for Contemporary Development Nikita Maslennikov spoke about Bloomberg’s data, regarding the ruble coming in second in terms of the volatility of world currencies against the US dollar.

The main reason, according to the expert, is the rapid decline in oil prices. The cost of the North Sea mixture of Brent, as Maslennikov recalled, fell below $27 per barrel. This is the border beyond which the Russian Central Bank’s contingency scenario begins.

“At the same time, the standard correlation that has developed over the past months looked so that when the oil price fell by ten percent, the ruble went down by three percent. Actually, a very similar picture has developed now,” the economist said.

The Central Bank has the means and tools to solve the problem, the expert recalled. The regulator can increase sales of currencies in the open market. Also, a standard solution in this situation is to increase the key interest rates.

And, indeed, the Russian Ministry of Finance transferred the purchased currency to the National Welfare Fund and began selling it to finance the transaction of acquiring a controlling stake in Sberbank from the Central Bank.

“On March 16th, the Federal Treasury, by decision of the Ministry of Finance of the Russian Federation, transferred funds to the National Welfare Fund (NWF) of additional oil and gas revenues received at the end of 2019. As a result of the transfer, the volume of NWF funds reached 12.2 trillion rubles,” the agency said.

The volume of the NWF as of March 1, 2020 amounted to almost 8.25 trillion rubles, which was equivalent to 123 billion dollars.

According to the budget rule, the Ministry of Finance buys currency for additional revenues that come to the budget at a high oil price.

These funds are sent to the accounts of the Central Bank, from where later they are transferred to the NWF. In 2019, 2,977 trillion rubles were allocated for these purposes, for which 20.7 billion dollars, 18.4 billion euros and 3.605 billion pounds were purchased.

The purchase of Sberbank was ordered by Russian President Vladimir Putin on March 16th, at market price, without any offer to minority shareholders.

The purpose of the transaction is to resolve conflicts of interest.

On the side of oil prices there appears to be a slight recovery for May futures.

Correctional growth in the cost of Brent crude oil accelerated sharply on the morning of March 19th and exceeded 5.5%, according to trading data.

As of 09:13 Moscow time, the price of May futures for the North Sea Brent crude oil jumps by 5.63%, to $ 26.27 per barrel.

Minutes earlier, the price of Brent reached $27.11 per barrel. The price of May futures for WTI crude oil rises at the same time by 12.48%, to 23.43 dollars per barrel.

April’s futures are still in a dire situation, however. Oil demand for the March-April period could come down by around 10 million barrels per day.

Growing concerns over the Covid-19 outbreak and surplus production from Saudi Arabia, the UAE and Russia have roiled global crude oil markets

At closing on March 18th, the West Texas Intermediate (WTI) traded at $23.41 per barrel, while the international benchmark Brent was trading at a 16-year low of $26.02 per barrel, far below the highs of $147 per barrel of July 2008.

Experts are of the opinion that global oil demand for the March-April period could come down by around 10 million barrels per day (mbpd). This is significant as the daily global demand was around 101 mbpd.

“The Covid-19 pandemic has made the already subdued demand outlook grimmer. The spread has led to demand disruption in major crude oil-consuming nations,” the Crisil report said. “Some countries/regions with increasing Covid-19 cases such as the US, Europe, China, Japan, South Korea, and now even India, account for ~71% of the global economy. The spread of the virus would deal a severe blow to their industries and supply chains and impact oil demand from these geographies.”

Separately, The export of Russian oil to China fell in January by almost 30% compared with January 2019, according to the first data of the Federal Customs Service (FCS) on the import of goods into China after the start of the spread of coronavirus there. The decrease in supplies to the main importer of Russian oil is associated exclusively with the epidemic factor COVID-19, analysts are unanimous. And Russia’s non-oil exports to China have grown, mainly due to an increase in the supply of vegetable oil, copper, fish and seafood.

MORE ON THE TOPIC:

Support SouthFront

SouthFront

Subscribe
Notify of
guest
121 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Gary Sellars

What a stupid cunt… the Russian economy is “shrinking” because the ruble FOREX rate is declining??????? :-P

LOL!! Who ever heard such utter nonsense??? Oh SF, sometimes you do make me laugh…

Lazy Gamer

If theyve got loans in dollar currency, that is going to drive the company to bankruptcy. They wouldnt be able to import much. Goods are going to cost a lot unless domestic production can immediately meet the demand efficiently.

Ricky Miller

That’s the silver lining, no? Critics of globalism everywhere, including Russia often point out that the domestic economy is just too dependent on happenings elsewhere the more it’s integrated. If things from overseas become too expensive than it’s time for domestic production to ramp up and that would employ people, although wages would have to be modest. If capitalism and it’s globalist zombie walk becomes too problematic than the older generation in Russia can tell the younger ones exactly what needs to be done for stability, full employment, housing, although that system means living with less.

Lazy Gamer

But will self production be able to compete with the prices of outside goods? Local producers are usually inefficient. When imports lessen, because of losses in the exchange rate, that is also the time when fellow Russians jack up their prices. Nothing beats chinese/asian labor for the lowest wages. lol
But, Russia has been moving away from trading with the dollar to trading with mutual currencies. We’ll see if that will be availed frequently.

Self sufficiency vs globalism. There is security in self sufficiency but again, if one is in a race for multi polarity, one will be left behind against an adversary that has all the technology and resources available from different parts of the world

Ricky Miller

So true. That’s the problem isn’t it. A group of people even as large as Russia could build tower blocks, simplify their lives, focus on the basics like community and family, avoid pesticides and herbicides and practice organic agriculture. They could have modest factories turning out what they need and no more, probably be healthier and happier but in the end the world would swallow them up and conquer them, without cutting edge technological improvement and military advancement. It’s a wonder the USSR kept up at all and is a testament to the Soviet academic space. There is only one country that I can think of that is pulling off a version of the happy life and rejecting mass consumption and all it’s ills and that’s Bhutan. They get away with it because there is no U.S. embassy in country to mess with them and manipulate the populace, and because China and India have until now sheltered them from outside pressure.

Harry Smith

If local Russian producers are inefficient, why then in the World Russia is 1st exporter of grain and 2nd exporter of weapons?
Just for your info: the biggest part (45%) of Russia’s imports are equipment, machinery and vehicles.

And Chinese labor is not so cheap as you think, but the level of their automated machinery is enormous. We have business partners in China and in these 10 years they’ve made a gigantic jump in the productivity. What technology of the World you are saying if USA and EU are still selling equipment, design 20-30 years ago? Google for Chinese fully automated equipment videos and you will totally reconsider your point of view about USA and EU technologies.

Today if you want newest technologies you don’t have to be friend with the whole world but just with China.

thanatos

this is nothing. america is first in machine export. then other goods, and finally weapons, which is several times bigger than russian. russia is italy on 15 000 000 km2

Harry Smith

Could you please be so kind and show me where in my comment is written about machinery EXPORTS?

Lazy Gamer

The trouble with automation is that it is easily replicated and transferred back home. There is something else that attracts business to invest in China. It definitely is not the Communist party, nor the foreigner hostility, nor the language barrier. Must be either the workforce, the market, or the taxes and fees. Either way, it produces a low cost product.

Harry Smith

Automation is just an example of the technological jump Chinese have made last 10 years. As for transferring and replicating, when Trump started the trade war with China, some high-tech American corporations tried to transfer some production lines back in the USA and they had no success. Because there are no local skilled workers capable to work on that equipment. Thanks to Obama’s education loans policy, there are a lot of Walmart cashiers with college diploma in philosophy or literature, but really few skilled electricians or high-tech equipment operators.

FlorianGeyer

The US and EU have sanctioned exports to Russia since 2014.
In the circa 11 years since then, Russian companies have again learned to produce varied goods again that do not require sanctioned goods.

Russian farming has answered the call to increase production, and as a result , Russia is now the largest producer and exporter of wheat etc.

The malaise of most oil producing nations has always been to ignore their older industries ( if they had them). This is because selling oil is , or was, very profitable for the elite especially. In Russia’s case , there was also a deliberate US strategy to destroy Russian engineering and farming etc during the 1990’s and to control the Russian oil sales for the benefit of US and UK companies.. This destructive US strategy ended when Putin was appointed as ‘acting President’ ‘in December 1999 and he was ELECTED as President in March 2000.

Most Russian companies have move away from loans in other currencies since 2000.

The weaponising of the US dollar Reserve Currency Status, will I sincerely hope be the total ruin of the US economy.

The US would then have a chance to find their own ‘ Putin’ to drive out the uber corrupt old guard, and to rebuild an America that is not a ‘War for the Profit of the Zio-Mafia’.

Gary Sellars

Russian companies have paid down their USD-denominated debts to pennies on the dollar since the Ukraine sanctions buttfuckery started in 2014. As a result the Ruskies can extend their index fingers and tell Uncle Scam to sit and spin on it…

Zionism = EVIL

I agree, not a very logical article. Russia is a technology powerhouse with a large industrial base and immense resources and graduates the most engineering and science students and will be on top of it soon.

occupybacon

1 RUB = 1 Cent

JIMI JAMES

Most gold backed currency on earth,My moneys on russia not cia phaedophiles + lgbtq liars!

occupybacon

So if today you had the opportunity to size 1000 RUB or 1000 USD which one you’d chose?

Lone Ranger

Ruble.
Because in a month the $ will be toast if nothing changes.

FlorianGeyer

Burnt Toast.

thanatos

go and live 1 year in omsk, hero!

occupybacon

So you wouldn’t size the Dollar and immediately buy gold with it…Interesting :))) J/k y’all poor Russian kids can’t even dream of 1000 USD

Lone Ranger

Why would day dream about green toilet paper…?
Aside from that they arent poor.

Ricky Miller

Umn, rouble. No where to go but up eventually, cheap at the moment and the U.S. dollar is a bubble based on habit and the biggest debtor currency in human history with no where to go but down. Eventually.

occupybacon

So you expect that 1000 RUB will value more than 1000 USD in the nearest future? Cause if not nearest, the straight forward answer was to size the USD and buy gold with it.

Ricky Miller

We may have confusion because you said size. I took it to mean buy. If I use my wallet here in America to buy $1,000 worth of RUB it would net me by the current exchange some 80,000 Russian RUB now, at the desk. If I just kept my $1,000 U.S. no matter what nearest future you mean I’d still have $1,000 because my bank pays next to no interest. Note, when I bought Ruble for my Russian trip last year $1,000 dollars got me 67,000 RUB. If the RUB appreciates to the dollar, as in the long term it must because the economy will rebound, oil will be needed and the Russian government is on way more solid financial footing than both the U.S. government and the oil price linkage to their finances, then as the RUB gains value to the dollar by the 20% it just lost, I could sell my 80,000 RUB back at the desk, as long as I have my receipt, for a near future price of $1200.00.

thanatos

bullshit! ruble is not gold backed. and never will be. because the russians do not want.

Rhodium 10

In my EU country 1 RUB= 1 Euro…but all industry, business, profesional service are CLOSED..while IN Russia are OPEN!…so the question is to avoid dollar in trade with many countries…for example Russia and India will open a trade route through Iran ( From caspian to Indian ocean) and using Ruble and Rupya!..

thanatos

:DDDDDDDDDDDDDDDDD

swedish_viking

Isn’t oil only about 10% of Russian GDP.
I think the Russian economy will cope with the blooming crisis better than many other countries.
Russia has prepared for a future crisis and also expanded there gold reserves and many exports will continue even with a big economic crisis.
Russia is also a lot less dependent on imports then they used to be.
There are a lot of other countries that is more vulnerable of an economic crisis.

Zionism = EVIL

If Russia eliminated the Jew corrupt oligarchs, it could be a top 5 economy as it is immensely rich in resources and has a very educated workforce.

JIMI JAMES

Allready is top 5 and top 2 real world p.p.p,not the kweers scam practice acts!

thanatos

then you must shoot putin, who has billions of dollars in offshore banks

Lone Ranger

6%

Zionism = EVIL

Actually, to be fair, the whole world economy is is tatters thanks to the dumbass Americunt and Jew plunder and bio-warfare stunts that have backfired. Russia is a rich country with $600 billion plus in FOREX reserves and a huge sophisticated industrial base and will come out fine. Russia needs to go back to a command economy as capitalism is in the shithouse thanks to Goldman Sachs and Jew parasites.

lilbenavidez

Russia and Rich country don’t fit into the same category. Never has Russia been a wealthy country in their entire history. They were at best medium-middling but they have mostly sit on the lower end of the food chain because they are a poor country run by strongmen.

Majority of Russia’s nearly 150 million population live below the bread-line

Lone Ranger

That was true 20years ago.
Not today.
Russian livingstandards increased dramatically since 2000.
They also have a debt to GDP ratio of only 12%
Combined with a flat income tax rate of also 12%.
And a Forex reserve of $570billion.

lilbenavidez

Not really. I have been to Russia by all definitions it’s not a wealthy country they have an ultra rich elite who sit tightly on the wealth and the majority live below the bread-line.

The infrastructure is poor and the Roads are not up to date in most of the country. There are very poor cities like very very poor

Ricky Miller

That’s not true. There are no bread lines in Russia. Food is affordable and 70% of Russians report a comfortable level of happiness with their lives. The Russian income is modest. It’s not at all like the West where waste abounds and trips are so debt fueled frequent that many people can’t remember if they’ve been somewhere specific or not or what year it was. In the U.S. the thrift stores take in truckloads of junk daily, and stuffed and hoarded up garages full of debris are common, but few people are happier for it. Face it, what you define as rich is just decadent waste and overconsumption, built on mountains of debt. Nowadays the wealth disparity in the West is the most dramatic anywhere, outside of Arabia, and dollar stores are the only major growing retail establishment inside the United States, where healthy food is expensive and cheap processed crap is the only thing that millions can buy, with more than three dozen million Americans using food stamps to purchase nutrition.

lilbenavidez

Don’t force me to post some sad stats and videos along with it. Russia by large and far is viewed as a poor country. Another North Korea style country has good military weaponry but poor economy. Russia is poor to the bones. This is hardly a secret everybody knows this

Ricky Miller

Post what you want and read comment below. Russia has it’s problems but has made enormous strides. I could post video and stats showing the ugly collapse of cities all through my region of the United States including some previously wealthy areas of Toledo, Dayton, Lima Ohio that now look like third world countries and where every second person is on food stamps. Russia is a country with modest and restrained financial resources, that doesn’t make it poor. Again, what you define as rich equals waste and frivolous consumption.

lilbenavidez

The Russian villages are not equal to American villages nor comparable. Take it easy with that vodka. Places like Stockton infrastructure wise is considered top-class in Russian standards this showcases the real picture

Ricky Miller

Dirt poor St. Petersburg? Notice the new Russian Federation era towers amonst the Soviet era construction.comment image

thanatos

google earth shows another leningrad. also my own photos.

Ricky Miller

Russia has challenges and there are neighborhoods and communities who need rebuilding and roads that need paving. Not trying to escape the reality there. But the point I responded to was a claim that Russia is bones poor. A real basket case of poverty. Breadlines. Hmmnnnn. That’s clearly not true. Challenges, yes. Bangladesh, or Malawi? No. Russia is never as strong as she seems, Russia is never as weak as she seems. We should add: Russia is never as rich as she seems, Russia is never as poor as she seems. Some Russia haters want to give out no credit despite the progress Russia has made. If that’s you, own it.

lilbenavidez

Posting couple of selected good shoots will not give your case any credibility. We have seen it with our own eyes Me and Thanatos. We know Russia. Chill and most people do. It’s a basement mostly

Ricky Miller

So says you, without proof. Russia’s per capita GDP has improved by double since 2000 to US $12,000. That’s middle of the table, not dirt bone poor with breadlines. And that’s before one figures purchasing power parity, because the Ruble covers more daily costs in Russia’s domestic economy than the U.S. dollar covers inside the United States, and that’s true for almost everywhere in the West because things are marked up and overpriced there. Russia is a completely different model of development, even post USSR where stability and community and wise use of property and resources is more important than explosive growth. They’ll take law and order and steady growth, small portions of debt, thank you.

Gary Sellars

Additionally, think of what one can buy (or how one can live) in Russia with USD 12K equivalent, compared to the hellish existence in the US on the same….

Ricky Miller

How about these shots from the full on capitalist West? I think these are what you mean by basements, and breadlines, and bone crushing poverty. Just a reality check…comment image comment image comment image

Ricky Miller

Meanwhile, in Murica…comment image comment image comment image

Ricky Miller

Oh, the dirt poor Volgograd…basement? Careful talking trash like that about Mother Russia. She might get mad…comment image

Ricky Miller

More, since it doesn’t do me credibility anyway…comment image

Ricky Miller

Need more Volgograd, you trash talking piece of crap? OK, I’m game…comment image

Ricky Miller

How about Salekhard, in the Arctic Circle? Really, STFU already. You’re a joke…comment image

Ricky Miller

Salekhard, in the Arctic Circle. Don’t want to be accused of only showing a couple of shots from there.comment image

Ricky Miller

A triple, from Salekhard. Don’t want to be accused of hiding the basement, bone crushing poverty and breadlines.comment image

Ricky Miller

Dirt poor Vologda. Oh, the Bangladesh level of housing and sanitation.comment image

Ricky Miller

Oh, poor Tyumen. One of the most beautiful cities in the world, but not in your demented MSM mind.comment image

Ricky Miller

Anybody who downvotes Tyumen is a Russia hating skank ho troll. It would be like downvoting OZ.

thanatos

this street from close using google earth is terrible. boy, you are totally silly, if you try te deed us with bullshits in age of google earth. :DDD

Ricky Miller

I could pick out in city in the world and find structures, pavements, sidewalks and other infrastructure that is in decay or poorly constructed in the first place. I wouldn’t want to make sweeping general conclusions about a place based on just this corner or that street. Also, Russian cities have been made fun of for some time by westerners because of the wildflowers and close unkempt look at the interchange between buildings and plant life. As it turns out studies now show that that is actually healthy and the picture perfect lawns and flower gardens in suburban America are hiding mass death, because the weedkillers and plant food used in mass quantities are sterilizing the soil and poisoning Americans. Glyphosphate, the main weedkiller in Roundup is accumulating in American livers at a rate four times the average that caused cancer in laboratory animals. Russian life expectancy is trending up while Americans are declining. Someone is really poor on planet Earth but it’s not Russians.

Ricky Miller

Vologda new housing. Not that there’s anything wrong with the old housing.comment image

Ricky Miller

Ice skating for poor lepers. You know, they can only afford one cell phone a year? The abject impoverishment…oh no

Ricky Miller

Steel town Cherepovets. Note the one room, dirt floor wooden schoolhouses? Me neither.comment image

thanatos

plôease, respect the rules. put your comments in ONE comment!

Ricky Miller

Fuck Off. Respect the rules and the UN Charter and stop bombing small countries to smithereens.

Gary Sellars

Well said.

Ricky Miller

Thanks

Ricky Miller

Everybody knows that Russia is self-sufficient in many products including refined metals. They don’t need U.S. dollars to buy anything. And men can still get manly jobs and hold their head up high. But, the poverty that steel jobs must bring in Cherepovets?comment image

Ricky Miller

The total skid row poverty is full on display here in Vladivostok. Unlike it’s American sister city across the Pacific there is no app needed to avoid poop bombs accumulating on Vladivostok street or outside schools.comment image

Ricky Miller

Kurchatov, Russia. Named after the atomic scientist and engineer,comment image and home to four powerful RBMK reactors at Kursk AES none of whom blew up because a greedy engineer wanted to make a name for himself running a dangerous test. Note the crazy, poverty that just EVERYBODY knows runs rampant in Russia.

Ricky Miller

Moscow. STFU.comment image

thanatos

bullshits! go there at daylight and look at buildings, roads. you can use google earth, too.

you are liar, moscow paid agitator!

Lone Ranger

Only because you are a Hasbarat not everybody is a paid troll.
You are the one lying…

Ricky Miller

I live in Ohio. I just passed a man on the street shooting himself up with something. And the apartment building I rented after college is a half burned out mess. Oh, and I need some medical tests but owe the Doctor $600 from tests two years ago where I paid a $700 health insurance premium every month but got no benefits until I blew through $5000 of my own money on health care costs. Go and tell me how rich Americans are.

Gary Sellars

Be silent, foolish troll-worm.

Ricky Miller

Perm, near the Urals.comment image

Ricky Miller

Poor, dirt hut Perm.comment image

Ricky Miller

The poor to the bones town of Velikiye Luki. I think you confuse needed improvements and paint jobs with abject poverty. comment image

Lone Ranger

Better luck next time Shlomo…

thanatos

you know, these fanatics never visited russia. or are paid ruskie trolls. from leningrad.

i was several times in russia, last time last year. so bitter poorness everywhere. as you mentiond, the roads, but also the buildings. the factories. the time has stopped several decades ago in russia.

Lone Ranger

Sure Schlomo…

Lone Ranger

You also spelled the U.S. and Detroit wrong…

Ricky Miller

Detroit neighborhood, circa today.comment image

Ricky Miller

Look at all that wealth. I mean, from the distant past and currently from the Scooter store. He probably has air jordans though.

Lone Ranger

Superpower….my arse…

Ricky Miller

Diarrhea out of your mouth. You’ve never been to Russia, except from the airport to the U.S. embassy.comment image

thanatos

plokho, molchik!

lilbenavidez

The sad part is that your speaking the truth but these trolls don’t realize this. They think every part of the world is rich and fanzy. They should visit East Europe mainly Russia and Belarus more often to get some humbling reality

Lone Ranger

Swap Russia with the U.S. and its legit.

Lone Ranger

I was in the U.S.
Same is true…
Also 80% of the Russian infrastructure has been upgraded.
Livingstandards went up by a tenfold.
They have universal healthcare as well.
Avg debt per capita in the U.S. is $64,000 in Russia $6000.
More people own their house and apartman in Russia than in the U.S.
Telecommunications, railway system, electrical grid, public transportation are all superior in Russia compared to the U.S.

Ricky Miller

Infant mortality in Russia was 5.3 per 1,000 live births in 2019. In the U.S. it was 5.8 per live births (World Bank, WHO.) Russian life expectancy overall has increased to 72 years, whereas in the 1990’s it was under 65. According to an article at WeapoNews.com titled “Social Obligations and Capitalist Circumstances” and citing ROSSTAT the average housing space per person in 1986 was 14.5 square meters per person and under the final communist improvement plan it increased to 16.6 square meters by the beginning of 1991. Today, it’s 26.9 square meters-a 40% explosion in just a generation and a half. Russia’s food production numbers are off the scale. Some people like to interpret Russia’s cliched past and her current challenges as a reason to underrate or dismiss them, or even to pour scorn despite the progress they’ve made. You seem like one of those people. Look up Tyumen on YouTube. Or Cheropovets. Or Vladivostok. Or just about anywhere. Russia is changing and although tower block buildings remain the most common housing construct the new ones are far more comfortable and attractive than their Soviet era counterparts, although many of those have a stark beauty all their own.

JIMI JAMES

What the fk ye on about? Russia is gonna drown european union,low iq speculative dumbass!
You disinfomation kweers are not even aware russia significantly boosted and advanced all productive measures and broadened economic tenfold that will leave you nocando fake news banksters to shame!

Jake321

LMFAO…nice indication by your ranting and raving that you are starting to realize that Putz Putin the Poisoner and the Russian/Chinese initiated Pandemic will likely be sending the Putz’s RF down into the dustbin of history to keep those other great Russian failures, the Soviet and Czarist Empires, company. Have the folk in Siberia started their compulsory Mandarin classes yet? Well, they can do it from home for now.

Peter Jennings

All these problems will be fixed once the dollar is no longer used as the world currency. If worse comes to worse, Russia will back its currency with gold and everyone with enough gold reserves will do the same.

Biblical times we live in, to experience the fall of another world currency, the wars and the rumours of wars, and the rapidly declining US empire who are willing to release chemical weapons onto anyone who cannot be got at by military means. Using the dove of peace in order to release this virus is yet another low point for US foreign policy.

Lone Ranger

Gold backed Yuan and Ruble and IMF credits will take over.
No coincidence that most EU countries and Russia are part of the AIIB.

thanatos

nobody want yuan. ruble only in russia.

Lone Ranger

Everybody will grab it like hot cakes once the USD goes belly up.

Jake321

LMFAO…in the great bye and bye with pie in the sky. You do entertain me. Thanks, Gregor.

Lone Ranger

You are welcome Shlomo :)

Peter Jennings

When backed with gold, it’s as good as.

Luke Hemmming

USD is strong because of ESF (exchange stabilization fund) intervention. Simple. Market manipulation by a little known US government agency that is also used as a CIA black ops slush fund.

Lone Ranger

Once the DOW hits 16,000 the artificial stabilization wont work and hyperinflation will kick in.

John

Russia is on the ball. They will make a killing when this subsides. They really want or nothing and they have their own messaging system. Remember, it was Russia who pushed the activate button on this one and it was not an accident. My take all.

Lone Ranger

Ruble is only adjusting since its not artificially boosted like the USD.
The weaker it gets the more the profit from oil sales, that simple.
Happened the same in 2016, and Russia came out on top that time as well.

Jake321

LMFAO…you must have studied economics and finance at Putz Putin University. You also think that him signing away most of Siberia’s natural gas to China at a price tied to the oil price was a stroke of genius.

Lone Ranger

Facts speak for themselves…
U.S. economy is toast, debt bubble is bursting.
Debt is at $23.4trillion.
Derivative debt is around a $170trillion.
Trade deficit is $640billion per year.
U.S. has a population of 335million, yet it exports less than Germany with a pop of 83million…
Russian debt to GDP ratio is at 12%.
They have a massive trade surplus.
A flat income tax rate of also 12%.
And a Forex reserve of $570billion vs $120billion in the U.S.
China is paying a fair price for the gas around $400billion in the next 15years its already a done deal.
Pipes are up and running.
Its because greedy people like you the U.S. economy is going belly up.
You can lie to yourself.
But you cant lie to me ;)
Chickens are coming home to roost…
Bye.

Jake321

LMFAO…And that is why your currency is falling off a cliff while the Dollar strengthens? Why our interest rate are near zero and yours are sky high and going higher? While we have near no inflation and you have high inflation that is increasing? Wait till the near zero price of oil and your Pandemic hits home. Those chickens are flocking your way, Igor or Gregor as the case may be.

Lone Ranger

It doesnt falling off the cliff.
Its adjusting because its not artificially manipulated like the USD.
The closer you are to zero interest rates the weaker is your economy…
When you hit negative interest rates you gone officially belly up ;)
Trade, reserves,debt U.S. is failing on all fronts.
Only thing left is the USD backed only by fate and the U.S. military nothing else, which is coming to a sad end now.
There are no breadlines here or Russia.
But there are in the U.S.
Let that sink in for a moment and come off your high horse.
Really bye now…

Lone Ranger

CIA trolls and ukropnazis will cry and rage ;)

Jake321

Nahhhhhhhh…mostly laughing at Putz Putin the Poisoner Trolls like you, Igor or Gregor as the case might be.

Lone Ranger

Time to insert your Tampax.
You are bleeding all over the place ?

Jake321

That’s your cure for the Virus, not mine, Gregor.

Lone Ranger

Contrary to you I dont have a period.
But its ok, you will be over your PMS soon enough ;)
Bye.

Jake321

Oh good. You finally learned enough English to read the label on that Tampax. See, it’s not meant to cure the Virus as you said.

thanatos

ruble in trouble

Lone Ranger

Not really.
But the USD is.

Jake321

LMFAO…again you prove you may write well in English but you can’t read the language.

Lone Ranger

Truth hurts, try to handle it ;)
China is taking down the U.S. economy.
Was about time…
Have fun and come again ;)

Jake321

Poor Gregor, his country’s economy will be collapsing so he cheers himself up by projecting.

Lone Ranger

Only one projecting hete is you :)
Bye Shlomo.

Jake321

Nahhhhhhhh…bye bye for now, Igor or Gregor, as the case and country and worthless currency might be.

Peter Jennings

Wait until america can no longer pay its bills and Lindsey cuts his internet access to a crawl.

121
0
Would love your thoughts, please comment.x
()
x