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Russian Ruble relaunched linked to Gold and Commodities – RT.com Q and A
Russian Ruble relaunched linked to Gold and Commodities – RT.com Q and A With Russia’s central bank having just profoundly altered the international trade and monetary system by linking the Russian ruble to both gold and commodities, the journalists at RT.com in Moscow asked me to write a Q and A article on what these developments mean, […]
“Game Over?” – Russia To Be In Technical Default Within Hours
“Game Over?” – Russia To Be In Technical Default Within Hours More than two decades ago, on August 17, 1998, Russia defaulted on its debt and devalued the ruble, sparking a political crisis that culminated with Vladimir Putin replacing Boris Yeltsin and which also eventually resulted in the spectacular implosion of a then little known […]
While Fed Is in Denial, Hawkish Bank of Russia Sees Inflation as “Not Transitory,” Warns of Possible Shock-and-Awe Rate Hike
While Fed Is in Denial, Hawkish Bank of Russia Sees Inflation as “Not Transitory,” Warns of Possible Shock-and-Awe Rate Hike US Inflation is almost as hot as in Russia, but the Fed is still blowing it off. Consumer price inflation in Russia is red-hot, having jumped 6.0% in May compared to a year ago, 2 […]
Inflation Targeting Madness: Russia Raises Rates Again
Inflation Targeting Madness: Russia Raises Rates Again I continue to wonder who Bank of Russia President Elvira Nabuillina works for. Seriously. On Friday, in response to solid growth in Russian economic statistics over the past few months, Nabuillina again raised interest rates 0.25%. She still adheres to idiotic IMF-style ‘inflation targeting’ dogma. Price inflation in […]
Bank Of Russia Calls “Emergency” Meeting To Address Ruble Rout
Bank Of Russia Calls “Emergency” Meeting To Address Ruble Rout Earlier today, we highlighted a dramatic plunge in the Russian ruble which has crashed to record lows against the dollar after staging its steepest two-day decline in nine months. The sharp (and seemingly inexorable) decline in crude prices combined with Western economic sanctions and geopolitical turmoil have […]
Grandmaster Putin’s Trap – 2
Grandmaster Putin’s Trap – 2 In December of last year we published an intriguing article by Dmitry Kalinichenko, “Grandmaster Putin’s Trap,” which has drawn far more attention from readers than we ever expected. It continues to be cited by many international political and economic experts. That article addressed Russia’s latent strategy to get rid of US bonds […]
Why Putin Doesn’t Need To Pander To The West
Why Putin Doesn’t Need To Pander To The West It’s quiet on the eastern front – as quiet as a conflict between world superpowers can be. Since February’s cease-fire agreement, relative calm has prevailed in Ukraine and world events elsewhere – Iran and Yemen – have shifted the global focus. Still, the West’s frigid relationship […]
Bank Of Russia Surprises With Unexpected Rate Cut, Brings YTD Total Of Nations Easing To 14
Bank Of Russia Surprises With Unexpected Rate Cut, Brings YTD Total Of Nations Easing To 14 Yesterday we reported that in less than 1 month in 2015, so far a whopping 13 countries have proceeded with “surprising” rate cuts: Singapore, Europe, Switzerland, Denmark, Canada, India, Turkey, Egypt, Romania, Peru, Albania, Uzbekistan and Pakistan. As of this morning, make […]
Russia to launch alternative to SWIFT bank transaction system in spring 2015 — RT Business
Russia to launch alternative to SWIFT bank transaction system in spring 2015 — RT Business. Russia intends to have its own international inter-bank system up and running by May 2015. The Central of Russia says it needs to speed up preparations for its version of SWIFT in case of possible ”challenges” from the West. “Given […]
