Ruble Collapse Is No Big Deal Within Russia: Tinkov
http://www.bloomberg.com/video/ruble-collapse-is-no-big-deal-within-russia-tinkov-LKo4_atyTiyFug9SJSuchw.html
Hannibal Barca wrote:
This reminds me reports earlier in the year that Chinese economy is entering reception and imminent collapse because developing by a mediocre...7,5%
Only retardos like RP, traitors like TR1 or panic kings like Austin can give basis in this crap. Basically I whip my ass with such "analysis".
Wow, got a response from practicaly everyone except sepheronx.AlfaT8 wrote:I'd like to hear sepheronx opinion with respect to the CNN report in the opening of this vid.
NEW YORK, December 6. /TASS/. The Russian Central Bank's foreign exchange reserves (FXRs) are sufficient to cover the country's external debt obligations next year, Moody's Investors Service (Moody's) has said in its report.
As of December 1, the Bank of Russia’s FXRs totaled $361 billion. “This is more than sufficient to cover the country's external debt payment obligations through 2015,” which amount to $130 billion across government, banks and corporate debt, the ratings agency says.
Moody’s says in case of necessity, Russia’s authorities may use two special savings Funds - the National Wealth Fund (NWF) and Reserve Fund (RF) - for paying external debt.
“The need for such action could arise if oil prices were to fall still further, eroding the current account surplus, or if there were a further escalation of tensions/international sanctions,” the report says.
The report notes that the Central Bank’s FX sales to support the ruble dropped from $29 billion in October to $1 billion in November after the decision to switch to a freely floating ruble.
Meanwhile, the severe pressure on the ruble resulting from a fall in oil prices poses a significant challenge to the new exchange rate policy and the CBR will “intervene more aggressively to support the ruble if it believes financial stability is threatened.”.
Austin wrote:It seems the actual Forex Reserves stands at $360 out of the $420 Total Forex Reserves.
Which means around $55 Billion is in Gold Reserves.
$130 Billion needs to be paid next year ....that leaves about $230 Billion Reserves,
Now the CB is also burning money defending Rouble .....which makes it unpredictable how much Forex will they end up having 6-8 months down the line.
Can some one tell me how more Forex will they end up adding with Oil and Gas Sales this year ? IS it possible to add rough estimate
kvs wrote:Austin wrote:It seems the actual Forex Reserves stands at $360 out of the $420 Total Forex Reserves.
Which means around $55 Billion is in Gold Reserves.
$130 Billion needs to be paid next year ....that leaves about $230 Billion Reserves,
Now the CB is also burning money defending Rouble .....which makes it unpredictable how much Forex will they end up having 6-8 months down the line.
Can some one tell me how more Forex will they end up adding with Oil and Gas Sales this year ? IS it possible to add rough estimate
The Russian state DOES NOT NEED to pay $130 billion next year and so this has ZERO to do with forex reserves of Russia.
It is common by the media monkeys to ALWAYS combine ALL Russian debt private and foreign and to NEVER do this when
they discuss NATO countries. It is sad to see people falling for this crap and posting it here.
Hannibal Barca wrote:Well my favorite still is the one with China stagnating with 7.5% increase year to year or collapsing under the ...6% of public debt.
Austin wrote:kvs wrote:Austin wrote:It seems the actual Forex Reserves stands at $360 out of the $420 Total Forex Reserves.
Which means around $55 Billion is in Gold Reserves.
$130 Billion needs to be paid next year ....that leaves about $230 Billion Reserves,
Now the CB is also burning money defending Rouble .....which makes it unpredictable how much Forex will they end up having 6-8 months down the line.
Can some one tell me how more Forex will they end up adding with Oil and Gas Sales this year ? IS it possible to add rough estimate
The Russian state DOES NOT NEED to pay $130 billion next year and so this has ZERO to do with forex reserves of Russia.
It is common by the media monkeys to ALWAYS combine ALL Russian debt private and foreign and to NEVER do this when
they discuss NATO countries. It is sad to see people falling for this crap and posting it here.
But what if say government or partially government owned companies like Rosneft . Gazprom , Sebrbank etc needs to pay they debt.
Austin wrote:Putin ordered to stop currency speculation until December 25
Hannibal Barca wrote:Having said this the devaluation of Ruble start becoming worrisome. With this rate of climb not only inflation will hit double digit levels but also bonds will start rising beyond the safe area.
sepheronx wrote:Hannibal Barca wrote:Having said this the devaluation of Ruble start becoming worrisome. With this rate of climb not only inflation will hit double digit levels but also bonds will start rising beyond the safe area.
The bond market is simply funny money. Ths is evident by the stocks of s&p 500.
That said, inflation part i agree with. They need to fight inflation. Ruble at 50/usd is safe. Any higher and problems are gonna arise.
kvs wrote:sepheronx wrote:Hannibal Barca wrote:Having said this the devaluation of Ruble start becoming worrisome. With this rate of climb not only inflation will hit double digit levels but also bonds will start rising beyond the safe area.
The bond market is simply funny money. Ths is evident by the stocks of s&p 500.
That said, inflation part i agree with. They need to fight inflation. Ruble at 50/usd is safe. Any higher and problems are gonna arise.
I totally disagree. Import prices are not what drives the overall Russian prices. Where do you get the information that imports will
dominate Russian inflation. The Russian CPI is mainly a fiction invented by the CBR. I have not seen anywhere how it is calculated.
In the USA food prices are given a 0.13 weighting. I suspect the Russian CPI has them weighted at 0.4 or 0.5. Such differences in the
metrics make any comparison meaningless. If you pay attention you will see that food prices in Canada are rising by over 7% per year.
magnumcromagnon wrote:Austin wrote:Putin ordered to stop currency speculation until December 25
Good news, reigning in on speculators is one of the first things you should do in these trying economic times.
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