Russia tries to stem panic over the plummeting ruble

[reader]

From CNBC

Russian authorities are trying to stem panic over the ruble’s sharp fall this week, with the central bank forced to intervene on Wednesday to support the currency.

The ruble weakened to 114 against the greenback on Wednesday, hitting its lowest level since March 2022, shortly after Russia invaded Ukraine.

Russia’s central bank (CBR) was forced to intervene on the day to prop up the ruble, saying it would halt foreign purchases on the domestic currency market for the rest of the year “in order to reduce the volatility of financial markets.”

Following the intervention, the ruble was trading at 110 against the dollar on Thursday morning.

Russian President Vladimir Putin commented on the situation earlier, saying there was no need to panic about the depreciation of the ruble and that the currency’s fluctuations were affected by budget payments and seasonal shifts.

“In my opinion, the situation is under control, and there are absolutely no grounds for panic,” Putin told reporters, news agency RIA Novosti reported.

“As for the fluctuations in the ruble exchange rate, this is connected not only with inflation processes, it is also connected with payments to the budget, it is connected with oil prices. There are many factors of a seasonal nature,” he added, in comments translated by Google.

[khaolakguy]

55 minutes ago, reader said:

“In my opinion, the situation is under control, and there are absolutely no grounds for panic,” Putin told reporters, news agency RIA Novosti reported.

 

Just like Corporal Jones:

https://www.youtube.com/watch?v=lI2mCG8trhc

[Moses]

5 hours ago, reader said:

The ruble weakened to 114 against the greenback on Wednesday, hitting its lowest level since March 2022, shortly after Russia invaded Ukraine.

Ruble is 104

Biden already looked like an idiot when he happily announced that sanctions had torn the Russian economy to shreds and the ruble was 200:1, and the Russian economy was on its knees in March 2022.

Do you want to be like him?

Since then, the ruble has been 60:1 and 80:1. The exchange rate changes over time. This year, the GDP "on its knees" will be 4.1%. And the GDP of "democracy" is 2.8%.

[vinapu]

3 hours ago, Moses said:

This year, the GDP "on its knees" will be 4.1%. And the GDP of "democracy" is 2.8%.

even if true don't forget it's from much lower base. 4.1% of 1000 is only 41, 2.8% of 2000 is 56. You probably, like most of us , agree that 56 is more than   41

[reader]

From Yahoo News

84 arrested in UK-led crypto laundering investigation involving Russian oligarchs, spies

The United Kingdom's National Crime Agency (NCA) announced on Dec. 4 that it had dismantled a multibillion-dollar money laundering scheme that has enabled criminal networks, including Russian spies and oligarchs, to evade sanctions using cryptocurrency.

The criminal operations, described by investigators as a "complex scheme," spanned over 30 countries. Criminal networks laundered proceeds from illegal activities to "collect funds in one country and make the equivalent value available in another, often by swapping cryptocurrency for cash," according to the NCA.

Investigators allege that two companies, Smart Group and TGR Group, served as a financial laundering hubs to various transnational criminal organizations, including the Irish Kinahan cartel, and Russian ransomware groups.

In turn, funds were further laundered to allow Russian espionage networks and oligarchs "to illegally bypass financial restrictions to invest money in the UK," according to a statement released by the NCA. The laundered funds also allowed oligarchs to purchase property in the United Kingdom.
https://www.yahoo.com/news/84-arrested-uk-led-crypto-021848182.

 

[Moses]

3 hours ago, vinapu said:

even if true don't forget it's from much lower base. 4.1% of 1000 is only 41, 2.8% of 2000 is 56. You probably, like most of us , agree that 56 is more than   41

Correct. But population of "democracy" is 2.5 times bigger

[Moses]

2 hours ago, reader said:

Investigators allege that two companies, Smart Group and TGR Group, served as a financial laundering hubs to various transnational criminal organizations, including the Irish Kinahan cartel, and Russian ransomware groups.

Unfortunately for you, head of TGR Group - Rossi (real surname Maksakov) is citizen of Ukraine.

https://home.treasury.gov/news/press-releases/jy2735

Quote

With touchpoints around the world, the TGR Group is an extensive sanctions evasion and money laundering network that works to obfuscate the illicit activities of its clients, including through the use digital assets, such as stablecoins like Tether (USDT). Controlled by Ukrainian national George Rossi, the network provides a range of services to place, layer, and integrate illicit financial schemes into the global financial system.

 

[reader]

Why is it unfortunate for me?

I wasn’t an investor.

Then again, I don’t believe neither you or me qualify as oligarchs. 🙂

[vinapu]

9 hours ago, Moses said:

Correct. But population of "democracy" is 2.5 times bigger

that's another good news for us

[Moses]

2 hours ago, reader said:

Why is it unfortunate for me?

Because it is your gossip?

 

[Moses]

17 minutes ago, vinapu said:

that's another good news for us

Well, BRICS+ is now 62% of World population since November'24.

[vinapu]

1 minute ago, Moses said:

Well, BRICS+ is now 62% of World population since November'24.

100 million people in Ethiopia or 140 in Nigeria e.t.c. doesn't make them mighty nations unfortunately  , first for their own people

[reader]

9 minutes ago, Moses said:

Because it is your gossip?

 

Wrong as usual. Ruble is on the rocks as many other news sources have noted.

[Moses]

On 12/4/2024 at 8:13 PM, reader said:

Russian authorities are trying to stem panic

looks like "panic" was usual fantasy game of CNBC.

On 12/4/2024 at 8:13 PM, reader said:

the ruble was trading at 110 against the dollar on Thursday morning

To whom it may concern: now it is 98,2

[reader]

It's doing fantastic, Moses.

[Moses]

1 minute ago, reader said:

It's doing fantastic, Moses.

-10.26%?

Well my bank deposits interests in RUR depending on length of deposits are 16% - 21%. So I'm in profit anyway

[Moses]

Bloomberg: Russian ruble the best currency of 2025, +13% to USD

114 you said? It is now 88.

[vinapu]

1 hour ago, Moses said:

Bloomberg: Russian ruble the best currency of 2025, +13% to USD

114 you said? It is now 88.

reminds me piece of Soviet propaganda found in the transit lounge of the Tashkent airport in 1977.\ " Soviet people are proud of their ruble, strongest currency of the world "

[Moses]

4 hours ago, vinapu said:

Soviet people are proud of their ruble, strongest currency of the world

In 1977 is wat true propaganda, because "Soviet people" were not able to buy foreign currency. Now Russia is part of world economy despite of 15 (16 soon) useless attempts to isolate it by sanctions...

When RUB is strong I buy foreign currencies, when it weak I sell RUR. +13% (ok, minus about 1% for spread) is good profit in 8 weeks. And since oscillations of rate are cyclical, I do it at least 2 times per year - exactly at time when Western propaganda again and again starts to talk about "weak ruble" and telling to naive Westerners what it is result of Western sanctions.

[vinapu]

5 hours ago, Moses said:

 Now Russia is part of world economy despite of 15 (16 soon) useless attempts to isolate it by sanctions...

 

don't you guys itch to board the Paris or New York bound plane direct from Vnukovo without worrying about visa and interrogation on the border?

[Moses]

1 hour ago, vinapu said:

don't you guys itch to board the Paris or New York bound plane direct from Vnukovo without worrying about visa and interrogation on the border?

You understand perfectly well that I wrote about the isolation of the country, not the citizens. The country's isolation did not work out - most countries in the world did not care about the ambitions of the European leftists and they continue to trade with the Russian Federation, only now that the EU and the US have banned settlements in euros and dollars, the EU and the US have lost the ability to control this trade - it is no longer visible in transactions on correspondent accounts of European and American banks, but global world trade in yuan and dirhams has increased many times over, but without Western control.

I have written here many times - the ban on trade in dollars and euros was the stupidest decision of Biden and the EU. Instead of isolating Russia, this ban strengthened the positions of the ruble, yuan and dirham in international trade. Instead of controlling the situation, seeing who sells what and to whom, the US and the EU excluded themselves from trade and became blind to Russia's trade.

As for the isolation of citizens, it did not happen either - it's just that now flights to Paris or New York have become with a transfer in Belgrade, Istanbul or Tbilisi/Astana/(fill in the blank). Citizens of the Russian Federation have never had the opportunity to travel to the EU or the US without visas. And, in general, this is not annoying - because while EU politicians competed in Russophobia, visa centers of European countries continued to stamp visas. Germany alone has opened 5 visa centers in the Russian Federation and they are all working. Italy, Spain, France are still willing to issue visas through more than a dozen visa centers (in total).

A politician's talking mouth is one thing - and we all know that when a politician moves his lips, he is lying. And losses for national economies are quite another. And no one really agrees with the losses, because planes do not fly empty, and Turkey, Armenia, Georgia, Serbia, Kazakhstan have made the most money from this - their airports are busier than usual.

[khaolakguy]

3 hours ago, Moses said:

I have written here many times

That doesn't make it any truer than if you had only written it once!

[Moses]

2 hours ago, khaolakguy said:

That doesn't make it any truer than if you had only written it once!

Discussions with believers are useless because faith is not in the brain and any logical arguments are powerless. That is why my post was addressed not to you, but to Vinapu.

Meanwhile, everything I predicted since 2021 has come true, including Trump's victory, fail of sanctions, strengthening cooperation between Russia and China and a shift in opinion towards the right wing in Europe.

[floridarob]

5 hours ago, Moses said:

Meanwhile, everything I predicted since 2021 has come true,

Could've shared the winning lottery numbers with us  Nostradamus 🥺

[vinapu]

13 hours ago, Moses said:

because planes do not fly empty, and Turkey, Armenia, Georgia, Serbia, Kazakhstan have made the most money from this - their airports are busier than usual.

good to know nation has fun while it's boys are getting killed in the trenches, in the war nation started and I understand, applauds