BREAKING: Russia defaulted on foreign debt today for the first time since 1918 | |
Anonymous Coward User ID: 81940673 Germany 06/27/2022 06:46 AM Report Abusive Post Report Copyright Violation | |
Bamagurl User ID: 83752612 United States 06/27/2022 06:50 AM Report Abusive Post Report Copyright Violation | Up until Wednesday, the U.S. Treasury Department had granted a key exemption to sanctions on Russia’s central bank that allowed it to process payments to bondholders in dollars through U.S. and international banks, on a case-by-case basis. However, the Treasury Department’s Office of Foreign Assets Control has allowed the exemption to expire as of 12:01 a.m. ET on Wednesday, it was announced in a bulletin Tuesday. Adam Solowsky, partner in the financial industry group at global law firm Reed Smith, told CNBC on Friday that Moscow will likely argue that it is not in default since payment was made impossible, despite it having the funds available. Fuck Joe Biden! |
Anonymous Coward User ID: 83569104 Canada 06/27/2022 06:52 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 82503956 Romania 06/27/2022 06:57 AM Report Abusive Post Report Copyright Violation | |
docsquat User ID: 82561383 United States 06/27/2022 07:03 AM Report Abusive Post Report Copyright Violation | So when do they foreclose on the Summer Palace in St Petersburg? They could lay siege to it to force Russia into giving it up. Oh wait, Hitler already tried that. It sure seems to me like one side is very closely mimicking the Nazis. Purity of Essence |
Anonymous Coward User ID: 83569104 Canada 06/27/2022 07:05 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 32577701 United States 06/27/2022 07:10 AM Report Abusive Post Report Copyright Violation | If I were Russia, I'd default on EVERYTHING! The United States is painting Russia as the global boogeyman... anything bad happens anywhere, for any reason... it's Russia's fault! U.S. has already cut Russia out of the banking system. I'd tell all of my debtors to fuck off too. Russia has nukes, who's going to force them to pay back their debts? |
Anonymous Coward User ID: 82619645 Poland 06/27/2022 07:15 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80534919 United States 06/27/2022 07:19 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 78507992 Slovakia 06/27/2022 07:28 AM Report Abusive Post Report Copyright Violation | uh. no. When BRICS comes together with a gold backed currency, they will have the strongest economies in the world. They are de-coupling from western currency and western trade. China and Russia. The U.S. will collapse and then reset to digital. all of the above is under one umbrella. It's the long con. that's a bot repeating a russian doom scenario, it was on page 3, too. first time i've been called a bot. yah...that's what I am if it makes ya feel better. Russia won't fare any better in the long run than anyone else. bot .... shill, same difference really as neither have a soul. |
Anonymous Coward User ID: 41739535 Russia 06/27/2022 07:33 AM Report Abusive Post Report Copyright Violation | Peskov noted that he does not know whether Russia is taking any steps to return the frozen reserves of the Central Bank and whether judicial procedures have begun. "Of course, we are analyzing the situation. Our position is well known in terms of reserves. They are blocked illegally. Any attempts to use these reserves in any way will also be illegal and, in fact, will mean outright theft," he said. According to him, the allegations about Russia's default are also absolutely illegal, because in May a payment was made in foreign currency. "And the fact that the Euroclear withheld this money, did not bring it to the recipients, is no longer our problem. In this case, there is no reason to call this situation a default," he stressed. On the eve of Bloomberg reported that Russia will default on the country's sovereign debt on the evening of June 26 – the grace period for the payment of $100 million on Eurobonds ends on June 26. The publication noted that international rating agencies usually declare default, but they withdrew the ratings of Russian companies due to sanctions. On June 22, Russian President Vladimir Putin signed a decree according to which the Ministry of Finance must fulfill its obligations on government bonds in rubles in an amount equivalent to their value in foreign currency. The money will be transferred to the National Settlement Depository to accounts of type "And". In order to receive payments, foreign holders will need to provide the government with documents about the owner of the securities, as well as give a written waiver of claims against the issuer for payment. On June 23 and 24, the Ministry of Finance announced payments on Eurobonds under the new scheme. On June 23, the Ministry transferred to NSD coupon income on government bonds maturing in 2027 and 2047 in the amount of 12.51 billion rubles, and on June 24 – coupon on bonds maturing in 2028 in the amount of 8.5 billion rubles. Earlier, the Russian authorities have repeatedly denied the possibility of Russia defaulting on government bonds. Finance Minister Anton Siluanov said earlier that foreign countries that decided to freeze the assets of the Russian Central Bank and the government intended to create an artificial default in Russia in this way. The country has the necessary amount of funds to service obligations, he stressed. [link to www.vedomosti.ru (secure)] the topic can be closed. |
Anonymous Coward User ID: 83759644 Australia 06/27/2022 07:40 AM Report Abusive Post Report Copyright Violation | |
Xuki User ID: 72417015 United States 06/27/2022 07:40 AM Report Abusive Post Report Copyright Violation | What the article should of said is " Russia decides not to repay debt to the countries waging war against it." My guess they are not going to pay the west. The west can holler like green haired girls all they want but the fact is the Ruble is the strongest its been and they have cut the throat of European energy. The only area where default is killing a country is the citizens of western countries defaulting on the loans they cannot pay. And that puts them and their families on the streets and hungry. Out of touch news! "If you gotta eat a turd eat it fast." |
Anonymous Coward User ID: 83748226 United States 06/27/2022 07:41 AM Report Abusive Post Report Copyright Violation | |
Recollector User ID: 82334697 Romania 06/27/2022 07:43 AM Report Abusive Post Report Copyright Violation | It's not just this. With this default. they will not be able to borrow any money or attract foreign direct investment from anyone apart from maybe China. Together with that, they are running 17% inflation and the Bank of Russia says it expects GDP to CONTRACT between 8% and 10% You don't have to take Economics 101 to understand how badly screwed their economy is right now. and who knows how long it will take to get straighten out, even if Putin stopped the war tomorrow. Here is the REALITY, dumbass. Russia's sovereign bonds are very valuable, for anyone. The West would LOVE to buy Russian bonds, but their globalist masters don't want this. Russia did not defaulted on anything, and EVERYONE knows this. Many countries will keep buying Russian bonds, simply because Russian economy is GROWING, the ruble is STRONG, they have ALWAYS paid their debt in time and in full. This "default" is just a default for the West. Fine, let the Western idiots stop buying Russian bonds. EVERYONE ELSE will still keep buying. This doesn't hurt Russia AT ALL, it only gives them all the reasons in the world to STOP SELLING to the West whatever they CHOOSE to , like, for example, URANIUM (and the U.S. goes dark) and GAS (and the Europe goes dark). The West don't hurt Russia, we hurt ourselves, and in the process, we give Russia all the reasons to fuck us up really good, and nobody, outside the West (so, the other 7 billion people) will BLAME Russia. Last Edited by Recollector on 06/27/2022 07:50 AM |
Anonymous Coward User ID: 83748226 United States 06/27/2022 07:43 AM Report Abusive Post Report Copyright Violation | |
hwy_ho1 User ID: 76848757 Canada 06/27/2022 07:49 AM Report Abusive Post Report Copyright Violation | It isn't really a default though is it. Quoting: Dogsbollocks Russia wants to pay.But isn't allowed to. Where did you get that Of course they are allowed to pay the bond holders and of course the bondholders want their money. The problem is that Russia is euro broke. Why would Russia pay a debt in Euro,when their national currency is the Ruble ? They can not even pay in Gold now. This is all punitive bollocks that will eventually Boomerang back on those responsible spectacularly. The western nation's By following the rules as they are writen Are playing a delay game They have lost and know it By playing this delay game They are just hoping for any one of there hail Mary's will turn the tide |
Anonymous Coward User ID: 50839460 United States 06/27/2022 07:56 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80073096 United States 06/27/2022 08:03 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 83760516 Greece 06/27/2022 12:58 PM Report Abusive Post Report Copyright Violation | ... Quoting: Anonymous Coward 82810580 uh. no. When BRICS comes together with a gold backed currency, they will have the strongest economies in the world. They are de-coupling from western currency and western trade. China and Russia. The U.S. will collapse and then reset to digital. all of the above is under one umbrella. It's the long con. No They've already done it They've been saying that for years It's never happened It never will Russia is totally screwed give it 1 year max as this shit show escalates. BRICS will emerge and shine like Gold. If I'm wrong, I'm wrong, but if you're wrong, you'll likely just deny it. Saying 'never' is unwise. brics goes to gold, west goes digital and then comes the very end as the whole world collapses and is 'saved' by tyranny. 3 yrs to tyranny. Lets see who's right. I'll wait as the signs pointing to this increase every month now. so this explains why these alt peasants worship Russia and China against the US. Their long gold positions. well, time to arrest (and steal their gold) everyone in west owning gold like pro putin they are |
Anonymous Coward User ID: 78150471 France 06/28/2022 02:40 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 78150471 France 06/28/2022 02:47 AM Report Abusive Post Report Copyright Violation | So the federal reserve will bail them out with you money again. Quoting: Anonymous Coward 80534919 You ready for more inflation? America is already bankrupt and $19 trillion in debt, thank to 120 million Colorfuls freeloading. Fed Reserve keeps printing money to pay the expenses of the People of Color. Gubmint needs the tax $$$ for the People of Color. To pay for affirmative action, jobs, housing, freebies and loans for them. Plus Biden's $1.2 trillion infrastructure plan with emphasis on the Colorfuls. President Biden Highlights Benefits in Infrastructure Plan for People of Color According to a White House document, it “addresses economic disparities in our economy and the consequences of decades of disinvestment in America's infrastructure that have fallen most heavily on communities of color.” It has a huge propaganda machine and pretends everything's still in order. Wont continue much longer. There is no free lunch..... |
Anonymous Coward User ID: 83404339 United Kingdom 06/28/2022 02:56 AM Report Abusive Post Report Copyright Violation | I think its because the number of People of Color immigrating to Russia and freeloading have increased drastically, after the fall of the Soviet Union, thanks to Putin and others. Quoting: Anonymous Coward 78150471 . ^^^^^ pretty valid point! pootin's been allowing all sorts of non-white riff-raff to immigrate and settle in mother russia. |
Anonymous Coward User ID: 77665769 France 06/28/2022 03:21 AM Report Abusive Post Report Copyright Violation | I think its because the number of People of Color immigrating to Russia and freeloading have increased drastically, after the fall of the Soviet Union, thanks to Putin and others. Quoting: Anonymous Coward 78150471 . ^^^^^ pretty valid point! pootin's been allowing all sorts of non-white riff-raff to immigrate and settle in mother russia. Yes, and he's also spending a lot on his Colored Yellow-Brown girlfriend, not as much on his ex White wife though. Biden's also not spending much on Jill, she looks constantly disheveled and shabby. Jill Biden: We Need Women of Color in Every Level of Government I'm quiet sure she wishes she was a Woman of Color, will get more gifts on a golden platter! |
Anonymous Coward User ID: 83764215 Russia 06/28/2022 03:32 AM Report Abusive Post Report Copyright Violation | |
Concorde Warrior F-BVFA User ID: 83756810 France 06/28/2022 04:06 PM Report Abusive Post Report Copyright Violation | This whole theatre of absurdity is like a madhouse field tour. Russia finally "defaulted", 104 years had to "wait" and finally waited! In 1998, there was a default on the domestic debt, while on the external debt the default on the debt of the Russian Empire was in 1918. Bloomberg comments on this event: "This is a dark marker of the rapid transformation of the country into an economic, financial and political outcast. " It all boomed into a symbolic payment of interest on a debt of about $ 100 million, a payment for which the US Department of Finance blocked back in late May. The delay was a month, June 27, nothing has changed and here we go again... The absurd situation is that the excess revenue of the Ministry of Finance of Russia for the first 5 months from oil and gas amounts to 2.53 trillion rubles - which is 47 billion at current rate. Russia's external debt on foreign bond loans is 36.2 billion, about 18 billion from foreign lenders. Russian IR is 582 billion. Default at full solvency of the borrower occurred for the first time in the history of the world! The Ministry of Finance of Russia actively resisted and tried to shove honestly earned money through all channels. First, in April-May, he pushed the currency through all the cracks to satisfy foreign lenders. They were not taken. Then, at the end of May, he decided to make a "fint", creating a scheme of "interests and debts per currency through rubles" on the analogy of "gas for rubles" - it did not collapse again. As a result, the currency has calmed down and recently decided to pay only in rubles, and then convert it as you wish. In all of this idiocy, the ultimate goal of the US is slipping away. In fact, what do they achieve, what do they want to scare Russia? Regular sanctions, closures of capital markets, credit ratings, an attempt to present 18 billion dollars for payment at once, which Russia is afraid of, will frown, but still will not be able to pay? Western capital markets, credit ratings – all of these were relevant in the old paradigm as Russia attempted to build an investment climate by playing with foreign partners to get investments, credit lines and debt demands. This world is over, a new world outside the toxic zone of the Western countries has begun. The United States also cannot threaten the expropriation of Russian financial and material assets, because Russia has frozen enough foreign assets. Will the Russian ZVR be expropriated? Then we can reset the entire volume of free circulation shares owned by foreign investors in the amount of over 10 trillion rubles at current prices. There is absolutely no problem with the default - it's just wonderful, it's just what the "doctor prescribed" in today's absurd configuration. The sooner we detach ourselves from this toxic, crazy world - the better. Wonderful news, I hope the United States will complete the case, t. to. The Ministry of Finance of Russia is resisting, trying to act by the old rules, playing the role of a "decent payer". Don't nobody owe anyone anything now! )) Dmitry Rogozin [link to oborona.gov.ru (secure)] I came. I saw. I Concorde. For once you have tasted Concorde you will walk the earth with your eyes turned skywards, for there you have been and there you will long to return. "I would say today we can integrate all religions and races EXCEPT ISLAM." Singapore's founding father Lee Kuan Y ew |