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  1. #11
    The Wolf of Sharetrader
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    Quote Originally Posted by BFG View Post
    After a brief fall back to 45 Roubles per USD, we are now back to 60 after Russian companies have finished buying up RUB for end of year purposes and a contraction in November of 0.5%. This is only the start.

    Oil is still tanking as well. Lower we go after a brief respite!
    Yeah exactly. This is one interesting game of global chess. Last time Putin responded by placing controls on what large companies could do with foreign reserves and using their foreign stores to buy Ruble. But here it goes again. What is he going to do to hold it this time? How many more cards can he play?

    Perhaps the US will keep this pressure until Putin is voted out and then it's time to buy up big?

    There was a great article in the Herald about a possible successor who had spend ten years in the Gulag.

  2. #12
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    The only choice Putin has left is pure price controls. I wouldn't rule it out with this twisted egomaniacal ex-KGB fool. That should mark a bottom if it does happen, but the economy will be in tatters if it does!

  3. #13
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    Quote Originally Posted by nextbigthing View Post
    Yeah exactly. This is one interesting game of global chess. Last time Putin responded by placing controls on what large companies could do with foreign reserves and using their foreign stores to buy Ruble. But here it goes again. What is he going to do to hold it this time? How many more cards can he play?

    Perhaps the US will keep this pressure until Putin is voted out and then it's time to buy up big?

    There was a great article in the Herald about a possible successor who had spend ten years in the Gulag.
    Its a combination of a economy that was already stagnating and had failed to diversify into a mercantile economy like China in the good old days of high oil income , instead it has gone into useless state "projects" , miltary and or been exported to a more "safer" environment...
    The Saudis are giving the USA shale boys and by default the Russians a lesson and then there is the sanctions which former Finance minister Kudrin says is contributing 30% to the fall, luckily they had him for a few years and have that reserve fund, boy are they going to need it.
    The relatives tell me everything up 40% (ruble prices) or more, shops holding back imported wine and chocolate etc until New year so as to extort higher prices in the main holiday season which is New year and Russian Christmas on 7th January each year
    Putins cronies are breaking the sanctions by importing fish and cheese into Belarus "repacking" it to say product of Belarus and onward selling it to Russia, it has just opened up another revenue stream for the connected people to skim more off the top and the poor ordinary people just suffer as before. Russians have a great ability to "suffer" but boy if they reach the end of the road it will not be pretty and if they ever did revolt this time will flow over into Europe a lot more than 1917.
    Putin has made sure the political landscape is bare and no real opposition parties exist in the form to threaten him at present and the main media will not support or advance anyone else to the level needed for a change
    You may think vote Putin out, it is not as simple he will not go and you have to think seriously who will replace him , he may be not everyone"s cup of tea but boy it could be a lot worse, just check out who is who over there in the parliament/ruling elite etc......
    be careful what you wish for!!!
    Funny I clearly remember early in year 2000 my wifes boss in the Russian hospital where she worked was a ex KGB doctor and he said then nothing good will come to Russia with him (KGB boy) in power.......
    Last edited by sashadidi; 30-12-2014 at 11:41 AM.

  4. #14
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    Cheers SD, always good to see what it's like on the ground rather than reading news all the time!

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