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| 08:40 PM | ||
| Users Online Now: 2,273 (Who's On?) | Visitors Today: 1,306,766 | |
| Pageviews Today: 2,181,443 | Threads Today: 877 | Posts Today: 15,586 |
| 08:40 PM | ||
BREAKING: Russia defaulted on foreign debt today for the first time since 1918 | |
| Anonymous Coward User ID: 83757670  Germany06/26/2022 08:36 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 83752578  United States06/26/2022 08:37 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward (OP) User ID: 83757670 Germany06/26/2022 08:37 PM Report Abusive Post Report Copyright Violation | Russia last failed to pay its foreign borrowing during the 1918 Revolution when Vladimir Lenin, the newly installed communist leader, repudiated the debt of the Russian Empire. Russia defaulted on its ruble-denominated bonds during a financial crisis in 1998, but it was able to stay current with its overseas debt at the time. https://twitter.com/_/status/1541212578034192384 |
| Anonymous Coward (OP) User ID: 83757670 Germany06/26/2022 08:38 PM Report Abusive Post Report Copyright Violation | Russia last failed to pay its foreign borrowing during the 1918 Revolution when Vladimir Lenin, the newly installed communist leader, repudiated the debt of the Russian Empire. Russia defaulted on its ruble-denominated bonds during a financial crisis in 1998, but it was able to stay current with its overseas debt at the time. Quoting: Anonymous Coward 83757670 https://twitter.com/_/status/1541212578034192384 Russia missed payments on two foreign-currency bonds as of late Sunday, according to holders of the bonds. The day marks the expiration of a 30-day grace period since the country was due to pay the equivalent of $100 million in dollars and euros to bondholders. |
| Anonymous Coward User ID: 83757486 United States06/26/2022 08:38 PM Report Abusive Post Report Copyright Violation | Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors. Quoting: Anonymous Coward 83757670 For months, the country found paths around the penalties imposed after the Kremlin’s invasion of Ukraine. But at the end of the day on Sunday, the grace period on about $100 million of snared interest payments due May 27 expired, a deadline considered an event of default if missed. It’s a grim marker in the country’s rapid transformation into an economic, financial and political outcast. The nation’s eurobonds have traded at distressed levels since the start of March, the central bank’s foreign reserves remain frozen, and the biggest banks are severed from the global financial system. But given the damage already done to the economy and markets, the default is also mostly symbolic for now, and matters little to Russians dealing with double-digit inflation and the worst economic contraction in years. [link to www.bloomberg.com (secure)] So youre saying that Russia hasnt had to make interest payments and now has that money to spend on their own country because western politicians shut down avenues of payment methods allowed to Russia.... Am I the only one who thinks this isn't bad for Russia? |
| Anonymous Coward User ID: 76423614 United States06/26/2022 08:39 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 83757486 United States06/26/2022 08:39 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 80260842 United States06/26/2022 08:41 PM Report Abusive Post Report Copyright Violation | Russian sovereign bonds are trading a junk bond level now, having lost about 80% https://twitter.com/_/status/1541202135207100416 Who's going to buy any new issuance of those? |
| Anonymous Coward User ID: 83734227 United States06/26/2022 08:42 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 80260842 United States06/26/2022 08:43 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 80260842 United States06/26/2022 08:43 PM Report Abusive Post Report Copyright Violation | |
Psychedelic Mashed Potatoes  User ID: 56598870 United States06/26/2022 08:45 PM Report Abusive Post Report Copyright Violation | . Last Edited by Psychedelic Mashed Potatoes on 10/04/2022 03:11 PM America is Babylon and Vladimir Putin is the Beast of Revelation: [link to www.godlikeproductions.com] If I post about the recorded history of Israelite child sacrifice on this site, I get flagged for an abusive post. Just think about that. |
| Anonymous Coward User ID: 81950414 United States06/26/2022 08:45 PM Report Abusive Post Report Copyright Violation | Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors. Quoting: Anonymous Coward 83757670 For months, the country found paths around the penalties imposed after the Kremlin’s invasion of Ukraine. But at the end of the day on Sunday, the grace period on about $100 million of snared interest payments due May 27 expired, a deadline considered an event of default if missed. It’s a grim marker in the country’s rapid transformation into an economic, financial and political outcast. The nation’s eurobonds have traded at distressed levels since the start of March, the central bank’s foreign reserves remain frozen, and the biggest banks are severed from the global financial system. But given the damage already done to the economy and markets, the default is also mostly symbolic for now, and matters little to Russians dealing with double-digit inflation and the worst economic contraction in years. [link to www.bloomberg.com (secure)] So youre saying that Russia hasnt had to make interest payments and now has that money to spend on their own country because western politicians shut down avenues of payment methods allowed to Russia.... Am I the only one who thinks this isn't bad for Russia? It's more complicated than that, if someone in the West is holding bonds as collateral, those bonds can get rated so low due to default status at the ratings agencies that they can no longer be used for collateral. This effect is more of a knock on thing you might see in the Western markets in real time than anything in Russia. Key word being "might" since there has been plenty of time for institutional investors and banks to get ahead of what everyone knew was coming and unwind these positions ahead of time. Unless they are underwater too much or over leveraged degenerates on the hook in complicated ways that they can't really unwind as everything else in the market takes a slow dump. So in essence it could lead to even more volatility market-wide starting as early as pre market tomorrow morning. We shall see. Everything is related to something else in the world of money, fart in Russia, breathe the in shit winds in Chicago. The best part is if that Western markets due take a blow due to this they can turn around and start blaming Putin immediately for any of the bad bets the greedy suits at the banks and hedge funds made and spin it that way. Or nothing could happen at all because anyone who thinks they can 100% predict the market or has all the facts is full of shit and more often than not will be one of the biggest losers by becoming one of these dummies doing this dumb shit in the end after they get too arrogant. |
| bad company User ID: 80591710 06/26/2022 08:45 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 81950414 United States06/26/2022 08:47 PM Report Abusive Post Report Copyright Violation | Oh I should add real quick, don't forget for a second all these assholes are in on it together and know exactly what they're doing, it's one big fucking game that ends up with everyone on the same side getting even more money while everyone else foots the bill, as always. |
| Dogsbollocks User ID: 79380926  United Kingdom06/26/2022 08:47 PM  Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 80260842 United States06/26/2022 08:47 PM Report Abusive Post Report Copyright Violation | Doesn't matter how much the Russian Central Bank buys roubles to prop up their value when they are defaulting on dollar and euro denominated bonds. Same philosophy says the dollar won't matter since they're nonstop printing them and we're experiencing severe inflation. Fine..go buy roubles then. lol |
| Anonymous Coward User ID: 79889820  Canada06/26/2022 08:47 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 73837775 United States06/26/2022 08:48 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 82521549 United States06/26/2022 08:48 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 80260842 United States06/26/2022 08:48 PM Report Abusive Post Report Copyright Violation | |
| St Tidbits the Odd User ID: 77547432 Canada06/26/2022 08:49 PM Report Abusive Post Report Copyright Violation | No, if they don't take the payment, it becomes some variation on 'Odious Debt'. Soulless fake humans are already AI. They get triggered by particular words, symbols etc. They can't really bother about the meaning. They just look for the trigger words. Their language & comprehension skills are 0. Some bots have bods, others don't. Cara Is Spirit |
| Anonymous Coward User ID: 79889820 Canada06/26/2022 08:50 PM Report Abusive Post Report Copyright Violation | Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors. Quoting: Anonymous Coward 83757670 For months, the country found paths around the penalties imposed after the Kremlin’s invasion of Ukraine. But at the end of the day on Sunday, the grace period on about $100 million of snared interest payments due May 27 expired, a deadline considered an event of default if missed. It’s a grim marker in the country’s rapid transformation into an economic, financial and political outcast. The nation’s eurobonds have traded at distressed levels since the start of March, the central bank’s foreign reserves remain frozen, and the biggest banks are severed from the global financial system. But given the damage already done to the economy and markets, the default is also mostly symbolic for now, and matters little to Russians dealing with double-digit inflation and the worst economic contraction in years. [link to www.bloomberg.com (secure)] So youre saying that Russia hasnt had to make interest payments and now has that money to spend on their own country because western politicians shut down avenues of payment methods allowed to Russia.... Am I the only one who thinks this isn't bad for Russia? It's more complicated than that, if someone in the West is holding bonds as collateral, those bonds can get rated so low due to default status at the ratings agencies that they can no longer be used for collateral. This effect is more of a knock on thing you might see in the Western markets in real time than anything in Russia. That sounds like it will do more damage to the west than to Russia. As usual with these clowns. |
| Terrebonne User ID: 83669235 United States06/26/2022 08:52 PM  Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 73837775 United States06/26/2022 08:52 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 80260842 United States06/26/2022 08:53 PM Report Abusive Post Report Copyright Violation | Investors have expected Russia to default for months. Insurance contracts that cover Russian debt have priced a 80% likelihood of default for weeks, and rating agencies like Standard & Poor’s and Moody’s have placed the country’s debt deep into junk territory. The Credit Default Determination Committee — an industry group of banks and investment funds — ruled June 7 that Russia had failed to pay required additional interest after making a payment on a bond after the April 4 due date. But the committee put off taking further action due to uncertainty over how sanctions might affect any settlement. [link to www.marketwatch.com (secure)] |
| Anonymous Coward User ID: 83757748 United States06/26/2022 08:54 PM Report Abusive Post Report Copyright Violation | |
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| thinking... User ID: 78212432 United States06/26/2022 08:56 PM  Report Abusive Post Report Copyright Violation | Russia hasn't defaulted on anything. The west has blocked them from the western financial systems so they had to pay in rubles. This is the doing of Satanic west. In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined: With disdain I will throw my gauntlet full in the face of the world, And see the collapse of this pygmy giant whose fall will not stifle my ardor. Then will I wander godlike and victorious through the ruins of the world And, giving my words an active force, I will feel equal to the Creator. “Looking for consciousness in the brain is like looking in the radio for the announcer.” – Nasseim Haramein, Director of Research for the Resonance Project |
| sssssteve User ID: 83755777 United States06/26/2022 08:56 PM  Report Abusive Post Report Copyright Violation | |
| Dogsbollocks User ID: 79380926 United Kingdom06/26/2022 08:56 PM 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. Dogsbollocks |
