Posts on Russia

I wrote a number of posts on Forbes about Russia at the back end of 2014. At the time, there was a lot going on with the currency, the central bank and the banks. So for ease of reference, I've collected them here, in chronological order.

Why the Russian Central Bank can't defend the ruble

Has the Russian Central Bank thrown in the towel?

The Russian Central Bank is regaining control, but for how long?

Oil, sanctions and Russian politics

How to destroy a currency, Russian style

Russia and the banks

How OPEC destroyed the Russian ruble

Russian ruble: Let it fall, let it fall, let it fall

The Great Russian Bank Bailout

Why does Venezuela think Russia is its friend?

No doubt there will be more in due course. Russia and its problems are not going away any time soon.

Comments

  1. http://www.3spoken.co.uk/2014/12/russian-roulette.html?m=1
    Neil Wilson's view.

    ReplyDelete
    Replies
    1. Good grief. Why not just introduce martial law.

      Delete
  2. Twenty quid on Russia to win, not place.....

    ReplyDelete
  3. UK's war against Russia has resulted it in importing vast amounts of North American (79% of total) wood pellets rather then a slightly less amount of Russian coal.
    Why not restart the deep mines if you want to effectively wage a nationalistic war ?
    Oh yes the UK is global banking central and it must therefore defend the carbon tax scheme to the hilt
    As a consequence we will see a further dramatic fall in UK standard of living.

    Not a fan of Peter the Greats style of capitalism but the UK is the usury pits.

    ReplyDelete
  4. In fights between bears and lions or tigers (organised by the Romans), the bear inevitably won in about 10 seconds flat, smashing the skulls of the attacking cats.

    Something to think about.

    I'm not aware of any recorded fight between a bear and a bald headed eagle, but I have a guess as to the result.

    ReplyDelete
  5. If we had looked at the Russian Balance of Payments you would have realized that the Bank of Russia is in total control of the situation.
    The trade surplus hovers around 33bln.$ per quarter since 2013. Sure the export volume has fallen by half, but so have imports. One should not underestimate the heeling effects of inflation on excessive consumer spending.
    http://www.cbr.ru/eng/statistics/?Prtid=svs
    Looking at interest rates, we see that the BoR is already able to reduce interest rates far under the 15% inflation, it lowered rates from 18% in Dec2014 slowly to 12%.
    http://www.cbr.ru/Eng/DKP/print.aspx?file=standart_system/rates_table_15_e.htm&pid=dkp&sid=ITM_7116

    ReplyDelete

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