They outlawed foreign currency during the communist era and made visitors exchange foreign currency for non-convertible rubles at a grossly inflated exchange rate. Makes me wonder if this in collusion with China, partly to further their "EU alternative" economic bloc, or just mean spiritedness. The ruble is 32.74 to the dollar. We will have to see if it goes up or down, if this legislation even passes. Only the commodity speculators dealing in currency can make an educated guess. Knowing Soros, I am sure he will try to short the dollar. The Russians have had trouble feeding themselves in the past. All their oil and natural gas is inedible. Our exports can easily go elsewhere.
Yeah, well they may outlaw it for the citizenry and small business..but guess who is exempt? quote:" ...Russians still would be able to buy or sell dollars while abroad, as well as hold dollar accounts in foreign banks.
The Central Bank of the Russian Federation and the government would be exempt from the law." unquote
ag42b is right. In the former Soviet Union, personal savings has been kept as dollar stashes b/c of the unreliability of Russian banks. Despite Bernanke's QE madness, the dollar is probably a better bet than the ruble.
I would guess that there's some strategic maneuver behind this, and not mean spiritedness. I won't hazard a guess as to what it is, but the Russians are up to something... as usual.
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They outlawed foreign currency during the communist era and made visitors exchange foreign currency for non-convertible rubles at a grossly inflated exchange rate. Makes me wonder if this in collusion with China, partly to further their "EU alternative" economic bloc, or just mean spiritedness. The ruble is 32.74 to the dollar. We will have to see if it goes up or down, if this legislation even passes. Only the commodity speculators dealing in currency can make an educated guess. Knowing Soros, I am sure he will try to short the dollar. The Russians have had trouble feeding themselves in the past. All their oil and natural gas is inedible. Our exports can easily go elsewhere.
No I'd be VERY amazed if we had six months.
Yeah, well they may outlaw it for the citizenry and small business..but guess who is exempt?
quote:" ...Russians still would be able to buy or sell dollars while abroad, as well as hold dollar accounts in foreign banks.
The Central Bank of the Russian Federation and the government would be exempt from the law." unquote
Whudda thunk.
But at least Kerry has the Middle East under control for the first time in 1000 years.
http://www.washingtonpost.com/opinions/jackson-diehl-john-kerrys-middle-east-dream-world/2013/11/10/5b17d2d2-47cf-11e3-b6f8-3782ff6cb769_story.html
ag42b is right. In the former Soviet Union, personal savings has been kept as dollar stashes b/c of the unreliability of Russian banks. Despite Bernanke's QE madness, the dollar is probably a better bet than the ruble.
I would guess that there's some strategic maneuver behind this, and not mean spiritedness. I won't hazard a guess as to what it is, but the Russians are up to something... as usual.
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