Russian ruble tumbles

[SportsGuy41017]

Another bad week for the ruble, it's now $1 USD = 58.1. The beginning of 2014 it was $1 USD = 32, but since July the ruble has fallen off a cliff.

[Jumper_Dad]

Another bad week for the ruble, it's now $1 USD = 58.1. The beginning of 2014 it was $1 USD = 32, but since July the ruble has fallen off a cliff.

 

Is there a down side for the US if the Ruble continues to fall? Besides Russia getting scared and starting WWIII.

[jericho]

Does Russia not use the euro dollar

 

How much does a gallon of milk cost in Russia using the ruble or price of stuff compared to here in America.

 

I know in 1928 Germany printed this many marks a day to get out of debt which didn't work to good.

400000000000000000

That's 4quadrillion

[SportsGuy41017]

 

Does Russia not use the euro dollar

 

How much does a gallon of milk cost in Russia using the ruble or price of stuff compared to here in America.

 

I know in 1928 Germany printed this many marks a day to get out of debt which didn't work to good. 400000000000000000 That's 4quadrillion

 

Russia is not part of the EU. Even if they were you can still use your own money, look at Great Britain.

 

Price is milk has gone up. It's also subsidized, and not of the quality, or quantity that we have. I had a bad experience over there once with milk from a market, so outside of a good restaurant or one of the million US fast food places there I wouldn't get milk.

 

I've been saying for awhile just wait for China, they have been falsifying things the past few years and their economy will collapse sooner or later.

 

Moscow is one of the most expensive cities in the world, has been for quite some time.

[kyyank]

Problem I'm told is money from oil is spent the minute they get it. Couple that with ruble and there will be chaos.

[SportsGuy41017]

There economy could be ready to collapse. Since about last February or March they have raised interests rates five times, it was at 5.5 9 months ago and now stands at 10.5, and they don't seem to be afraid of continuing to raise it.

 

Luckily the people I know who live there, who are not Russian, are paid in dollars or euros. Almost all friends that are Russians, not so lucky.

 

Russia has about $500 billion in reserve and low debt equal to about 9% GDP. But Russian businesses have borrowed a lot in dollars and they are now finding it a bit difficult to repay as it's now a lot more expensive.

 

Russian business are due to pay about $35 million this month in debts, but next year they will need to pay back over $100 million.

 

The Russian financial sector is low on collateral and Russia's central bank is going to allow more risky forms of collateral.

 

Regular citizens I know there are really feeling a huge hit.

Edited December 15, 2014 by SportsGuy41017

[SportsGuy41017]

And we hit $1 USD to 61 rubles today. Clearly what they did on Thursday to stop it at 58 didn't work.

[SportsGuy41017]

Interest rates went from 10.5 to 17 today.

[SportsGuy41017]

And now it's $1 for 79.17 rubles.

[Bluegrasscard]

Too bad they do not have the petro-ruble.

[Jumper_Dad]

And now it's $1 for 79.17 rubles.

 

Holy Cow its on a free fall...any chance they pull out of this dive before they crash?

[sportsfan41]

This is getting scary.

[SportsGuy41017]

Holy Cow its on a free fall...any chance they pull out of this dive before they crash?

They raised it about 1am today their time to stop the fall, and it didn't work, horrible situation. It may sound all good, but what will Putin do when his back is against the wall? We are not dealing with an open and friendly Gorbachov.

 

Also, Ukraine is now on trouble as well, this will hurt the Euro counties, well at least them.

 

What about the chances of a coup like in the early 90's?

[SportsGuy41017]

They are saying now they have no other option and will need to use capital control.

[Bluegrasscard]

They raised it about 1am today their time to stop the fall, and it didn't work, horrible situation. It may sound all good, but what will Putin do when his back is against the wall? We are not dealing with an open and friendly Gorbachov.

 

Also, Ukraine is now on trouble as well, this will hurt the Euro counties, well at least them.

 

What about the chances of a coup like in the early 90's?

 

Or a limited regional war. Wars are good to take peoples minds of the distress and buck up the failing economy.

 

Some say wars are 'Bankers Wars'. Certainly large wars are Economic in their foundation. A failing ruble is not a good thing.