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    Russian Economy General News: #4

    kvs
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    Post  kvs Wed Jul 01, 2015 2:55 am

    flamming_python wrote:
    Viktor wrote:Nice  thumbsup

    Retirement age will be increased by 8 years

    That's not nice at all.
    Think about the 39 year olds today; by the time they reach 55 - they'll find that they have to work 8 more years before they can retire.

    Actually it's a load of bull, following the Western economic model of wringing all the productive worth out of a person for the sake of better GDP figures, and a higher economic 'efficiency'.

    What does it matter if the economy expands - if the living standards have to decrease in order to achieve that?

    The economy should be for and about the people, and their conditions of living first and foremost.

    I think it is the universal problem of pension load that is the issue. Not GDP and productivity. Raising the retirement age
    saves the government and enormous amount in pensions. In Canada and the rest of the west this is the one and only
    reason for raising it.

    But I agree, retirement at 55 years is what a rational society should implement. Private pension planning can allow you to
    achieve this.
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    Prince Darling

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    Post  Prince Darling Wed Jul 01, 2015 2:58 am

    no need to get dramatic, its more about, having a better ratio of employed to pensioned people.
    Which can mean lower taxation for working people, to cover the pension fund, or higher pensions at the same level of taxation.

    all of this is a result of demographics in more or less the entire developed world. Early retirement can work in societies where the average women has +2 children. We might be getting closer to this number now, but the dip from the early 90s to very recently is what is putting preasure on the pension system
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    Post  PapaDragon Wed Jul 01, 2015 7:48 pm

    I assume this is good... Inflation in Russia has dropped to zero thumbsup

    http://lenta.ru/news/2015/07/01/infl0/

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    Post  Prince Darling Wed Jul 01, 2015 9:08 pm

    PapaDragon wrote:I assume this is good... Inflation in Russia has dropped to zero  thumbsup

    http://lenta.ru/news/2015/07/01/infl0/


    well not exactly, but i guess this info is just for one month, so i guess it could be balancing out inflation on food and other products (the more imported ones) over the last year. If i understand the article correctly its still 8,5% on a yearly level. (seems that 8.5% is the inflation in the first half of the year).

    you want yearly inflation at 2-3%. about 5% would be best for Russia, as it is obvious that prices still have a lot of catching up to do with the west (for the vast majority of products and services)

    EDIT: seems that reality is inflation at around 15% in the last year, right now is the height of food production so food inflation is down (close to deflation), and since food is the key driver of inflation you get that inflation has dropped to zero headline


    Last edited by Prince Darling on Wed Jul 01, 2015 9:15 pm; edited 1 time in total
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    Post  Vann7 Wed Jul 01, 2015 9:08 pm

    Sergey Glazyev does it again.. bitching again about the Russia Central bank
    with conspirational theories.  What is really annoying is not the bullshit he claims..
    but that Independent news blogger sites like the SAKER.. or any other
    does not held accounted Glazyev for their previous failed predictions ,that turned to be 100% wrong..

    Is like you ask an Future teller that is very popular for his predictions,what will happen in 2015..
    But then 2015 pass and nothing he predicted happens.. then in 2016 another interview is given,
    and no one have to courtesy to ask them for their failed prediction. and instead ask for more
    predictions of now what will happen in 2016.. then in 2016 nothing what he predict happens.. then again he is not questioned for failing.  

    Glazyev claimed that Nabiullina.. the head of Central bank..
    had to be shot and was destroying Russia economy.. back in november 2014 interview..
    But now every major economic news outlet.. is saying She saving Russia economy from
    collapse.. and giving credit to her for stabilizing the Ruble. He falled short in calling her
    a western agent.. but he conveniently fails to mention that Putin , elected her as President
    of the Central bank..and that he trust in her.. and that he whenever asked he support her
    decisions.. so Either Putin is lying ..or Glaziev is a disinformant.

    Glazyev claimed that the central bank was sabotaging Putin demands of a new Payment system.
    and that nothing was done.. -WRONG!!

    Glazyev Complains about what happened in December 2014.. how Central Bank raised interest.
    but conventiently ignores how much they were lowered since then and that central bank told will continue lowering them to control inflation.

    and the best one..
    Glazyev claims Russia Central bank have not lower the inflation at all.. is all
    our imagination folks.. ..  Rolling Eyes

    So everyone else have to be lying..  

    He paint a picture of an Evil Central bank lead by Nabiullina that do not listen Putin and is in
    bed with the IMF.. and only receive orders from washington DC..  Rolling Eyes

    What kind of President is Putin then? that he will declare a financial war against US dollar,
    create an alternative to the IMF ,called BRICS and start dropping US dollar in any transanctions with BRICS and others nations. Perhaps no one told Putin , his central bank is in bed with the IMF.. looks completely Moronic to try to fight the west financial system if your bank is not yours after all..and belongs to Americans?  

    How could Putin even stand a chance to Oppose US ,if he did not have ways to control
    the Russia Central bank? For example LYbia bank was completely under control of the IMF..
    and when the conflict began in Lybia that Qadaffi refused to step down? what Americans did?
    they froze ALL Lybia bank accounts.  with all their Gold that was being stored in France and Europe banks.  Lybia lost like 400 billions $USd all its money ,with just a sign of Obama on paper.. with their sanctions.. No

    Im sure Putin will have never dare to fight the western financial system hegemony ,creating
    BRICS and stopping using US dollar.. if he knew that the Central bank in Russia is an american/BRitish private bank..and nothing else. How dumb the west.. why bother lowering Oil prices..and militarization of Russian borders..  if all the IMF had to do ,to destroy Russia and the ruble is freeze the Russian Central Bank operations.? Apparently Obama neither knows
    the Russia central bank is a "puppet of the IMF"  Rolling Eyes  

    The claims that Russia Central bank is independent is completely bullshit. Independent means that independent. that does not depend of any outside thing ..but it behaves as a dependent
    institution of the Russian government. Putin tells them what to do..when and how.. Buy Gold now.. and trade now in dollars, give a loan to that bank now,lower interest now.. And Putin even elect the head of the Bank..and if that wasn't enough, wikipedia says half of the profits
    of the Russian central Bank goes to the Russian government. so independent my Ass.  

    Russia central bank based on real life behaviour act more like a hybrid National/private bank.
    as a Semi-Independent Institution ,that have its own strong autonomy but cannot do whatever they want. and actually the Russian Government somehow have quite big influence on it. I suspect the Russian Government control 30 to 50% or more of the shares of the central bank..Because according to wiki, the TOP 5 Russian banks in Russia are state controlled Banks..
    the one ones under western sanctions.. and they operate under this Russia Central bank.. So independent not really.. is Semi-Independent ,Semi-National bank. Which i think is the best solution.. Allows Russia to attract Capital from
    Abroad.. NAtionalizing the bank.. should have also a very negative consequences in money
    transanctions.. all banks in the world makes transanction through an Internet like ,but private
    secure service.. called Swift.. based in Europe.. and without it.. credit cards will not work..neither it will be possible for Europe to Pay Russia for the Gas they get. since had to be through their communication secure lines..Europeans control. Neither possible for any investment in Russia from the west.. unless people bring money in cash.. which is not an effective way of trading money. Neither possible for Russian banks to operate in the west..
    since they have business in US and Europe.

    In a semi private ,semi nation bank..both sides Private and Russian Government have influence.. and any decision taken have to be done by mutual agreement and that Russia
    Government do have the power to completely Nationalize it at any time they want it..  But they
    dont do it..because that will make Russian banks to lose access to western Financial Markets which Russia profit significanly ,specially selling energy to the west. IF Europe and US stop trading with Russia ,then they will be no point of continue to have western Investors in their
    Central bank. and can nationalize it in full.

    http://russia-insider.com/en/politics/they-just-follow-washingtons-recommendations/ri8389

    here is a quote from forum poster about the article..that mirror my views.



    That Glazyev guy sure has some groupies, The Saker should create a fan-club...

    Russian central bank slapped hard on Soros and co Banksters by slapping them hard makin them loose their skirts just before new year with the super increase of the key rate.
    No bonuses for american hawk traders...
    End of the speculative riot on the rubble of the last 2014 quarter!
    Job done!

    Why dont you talk about this mr Glazyev???

    Naturally since then they reduce it little by little to allow easy cash flows for Com Banks.

    It was the right move back then, it still is.
    It's always easier to spit in the pot blabbing about radical solution, fixed interest rate and so on than to have a rational and working money policy!

    I find it rather curious that even though this site tend to idolize Putin a lot (i do too Jeez that guy is something) but always forget that he put the head of the central bank in charge and she s a personnal friend of him.




    Last edited by Vann7 on Wed Jul 01, 2015 9:50 pm; edited 3 times in total
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    Karl Haushofer

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    Post  Karl Haushofer Wed Jul 01, 2015 9:17 pm

    Buffoons like Glaziyev pose a far bigger threat to Russia than competent people like Nabiullina or even the Western 5th columnists. I have watched several of his interviews and the man is totally crazy.
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    Post  Vann7 Wed Jul 01, 2015 11:00 pm

    Here is a conspiration nut.. this time Nikolai Starikov.



    Now He claim Russia Central bank reserves ,the ~$350 Billions more or less
    that the Russian Central bank have are not Russian money.. in other words that is
    money that Russian Government cannot use.. Now this take the first place in stupidity. Rolling Eyes

    he also claims the Russian Central bank cannot give credit to Russia government.
    and only to US ,UK , Japan.. and others major economies.. and that the Russian Central
    bank print money from "Thin Air" and that even thought cannot give money to Russia..
    it can give money to US and foreign nations as much as they need.  Rolling Eyes

    He claims the Russia central Bank can give money to Americans as much as they need.  
    but not a penny to Russia. Rolling Eyes

    I know wikipedia is not a official source of information.. but there it says Russia Central
    banks Give Russia Government HALF of its Profits . So if that is correct. I don't know
    from where Nikolai gets the idea.. that the Russian Government "does not profit from Russia Central bank"..

    It cannot give money to Russia.. but who financed the state owned companies Gazprom and Rossnet when western sanctions ,that blocked any foreign load to Russia? and Who financed Russian state owned banks , when they were short on Rubles because of sanctions?  The money came NOT  from thin air.. as Nikolai Starikov claimed..but from Russian Reserves ,that Nikolai claim the Russian central bank reserves that Nikolai claim Russia
    cannot use.   Rolling Eyes

    This is really incredibly stupid.. I just wish Max Keyser debunked him.. and explained how Russia central bank works.. Nikolai Starikov and glaziev this is become so stupid and beyond ridiculous.. Nikolai is not even an Economist.. he is only a political commentator and never studied economy.

    I remember one time Max keyser ,who worked in wall street and have many
    very good connections in the financial industry of real experts from US and UK ,
    and Professors of Economy of US and UK top universities, where 99% of the things
    keyser said were agreed by Top Economist and Book authors of international economy..

    I remember when Keyser told ,Russia was the only Power in the world that western banking mafia like Bank of London or US federal reserve cannot control and China to some extend.


    I remember when the Ruble collapse in mid deccember 2014 , when Medvedev told that the
    Russian Central bank have the tools to Reverse the depreciation of the Ruble and return it to
    normality..

    So you have an situation where .
    1)Western Banking Industry attack the Ruble.. so called speculators..  Fact..
    2)and the Russian Government Putin and Medvedev tells people to not worry that the
    Russia central bank have an strategy and capabilities to stabilize the Ruble...FACT

    So if The Russia Central bank cannot give credit to Russia ,how in hell the Russia Central
    bank waste the Reserves stabilizing it in 2014 and later at orders of Putin Rise the interest
    to cut the western banking speculators.  

    So you have the western banks attacking Russian Ruble.. and Russia Central bank Countering
    the Attack. This clearly means , that western banks and Russian bank are **NOT ***in the same side. Totally opposite forces.The West Fighting to bankrupt Russia.. and the Russia Central bank fighting to Boost Russia economy .. So this have to be a joke.. from Nikolai Starikov or he was seriously dissinformed.  I dont think he is a trolls. he something bring good information ,
    but i think he got the information completely dead wrong.


    And Max Keyser comes to my mind as one that defend Russia Central bank and Chinese one
    as the future.. here is what Real Econmist and max keyser think about Russia free float of the
    ruble which both glaziev and Nikolai critisize. and instead ask for heavy controls of Ruble.
    from december 2014.



    As much as max hates , the western banking industry.. i cannot imagine him endorsing the Russian banking industry and showing it in a good light as a real economy.. if he knew ,was just American and Britist banks who control it.. non sense. There was even in St Peterburg forum.. and British economist who told was investing in Russia..because it was going to boom its economy.. and he openly trashed the IMF representatives at the forum.. So we have real economist and people
    who worked or work at wallstreet that see diferently west vs Russia banks.. and political comentators in Russia see it as the same thing.

    So there is a real disinformation of how Russia central bank operates.. and i don't think either Glaziev or Nikolai are well informed on the subject.
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    Post  Vann7 Thu Jul 02, 2015 4:02 am

    Update ..
    Was reading Saker forums.. from where all the conspiracies theories
    about an EVIL central bank comes with interviews.. of so called "Putin Advisors"
    Like Glasiev and nikolai (a political commentator). and is quite interesting the comments
    in the Saker comments sections.. Basically one posted EVIDENCE , on the Russian Constitution.
    That the Russia Central bank is a FEDERAL Bank from the point of view of the law..

    here is what one Guy posted to debunk Glaziev... and anyone claiming conspiration
    theories of Russia central bank being  a western bank controlled by the US federal Reserve and IMF..



    @Penelope on June 29, 2015  ·  at 4:03 am UTC
    Steven, Glazyev is talking about the structure of the system and also about corruption., and also about a deceitful Washington teaching called the Washington Consensus. It may not be a good starting point for you. .

    All except 3 central banks in the world belong to the IMF/Fed system, which means that BY TREATY none are controlled by their own governments– but are controlled by the system.

    To understand a big part of it at once there’s a good explanation in this article– even if you read only the first page you will get it:

    --------------------------------------------------------------------
    quote@T2015 on June 29, 2015  ·  at 7:38 am UTC
    You are still repeating your stories about the imaginary “private” central banks. Repetition of nonsense doesn’t make it any more true.

    It’s the exact opposite, all of them belong to the respective state, fully and completely. And snake-oil sellers like you or some gullible do-gooders are sent out to disseminate and feed that (essentially nazi) propaganda.

    It is those states that are “controlled by the treaty” but certainly not banks. Again, the STATES are controlled by those treaties, it matters zilch if the bank is owned by the people or by martians.

    --------------------------------------------------------------------
    quote @T2015 on June 29, 2015  ·  at 7:47 am UTC

    Don’t fall for cheap propaganda of Glaziev. He does have SOME good ideas, but is also selling lots of nonsense.

    Here’s some reality to counter “Penelope”, who’s been spamming everyone with Starikov’s propaganda since months:

    http://www.cbr.ru/eng/today/status_functions/law_cb_e.pdf

    “Article 2. The authorised capital and other property of the Bank of Russia shall
    be in federal ownership.  In pursuance of its purposes and in accordance with the
    procedure established by this Federal Law,  the Bank of Russia shall exercise its
    powers to own, use and manage its property, including the gold and currency
    (international) reserves of the Bank of Russia.  This property may not be confiscated or
    encumbered with obligations without Bank of Russia consent unless the federal law
    stipulates otherwise.”  


    So calm down.



    So there it quite looks to say.. that the Russia Central bank ,its property,gold and currency and international reserves . its owned by the (Russia) Federal Government.

    SO again and again.. i see lots of arguments AGAINST Glaziev proposed
    controls of the RUble Currency... the previous video shows nothing less than Max Keyser of RT and an Economy expert Agree with Nabiullina of Central Bank of RUssia actions.. their own critic to the central of bank of Russia was not its policies.. of Free float Ruble and raising interest rates as Central Bank did ( contrary to Glaziev views) , their only concern was the timing
    that they believe the Central bank could have raised the interest Earlier at 15% to 17%
    to halt the speculators. but so far real economist contrary to GLaziev.. all credible experts
    in economy all agree that a free float RUble was the right thing to do.. and this goes
    against Glaziev so called "expert opinions" which wants a heavily regulated Ruble.
    Werewolf
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    Post  Werewolf Thu Jul 02, 2015 7:31 pm

    Facepalm... read the russian constitution it says exact the opposite.

    Russian constitution says that Central Bank and Russian Federation do not stand for each other as one institution, they are not liable for each other.

    Have you ever actually read the russian constitution regarding Central Bank of Russia?

    Read it and then come back.
    Viktor
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    Post  Viktor Thu Jul 02, 2015 8:25 pm

    Nice thumbsup

    The State Duma adopted a law on PPP

    President Putin signs law aimed at support of small and medium business

    and finally russia russia

    Kremlin: Russian Constitution takes precedence over the ECHR

    Viktor
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    Post  Viktor Fri Jul 03, 2015 8:48 pm

    Nice money thumbsup

    Deputy Minister: a lawsuit against the Ministry of Defense of the Russian Federation "Rheinmetall" has already begun

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    Post  Austin Sat Jul 04, 2015 9:39 am

    Good Overview on budget for next 3 years ( 2016-18 )

    I will highlight key points

    Siluanov: to index pensions by the actual inflation rate is possible only by cutting other costs

    MOSCOW, July 2. / TASS /. Indexation of pensions in the years 2016-2018 by the actual inflation rate may lead to other budget sequestration or in an increase in the deficit, and further to the additional issue already in 2018, Finance Minister Anton Siluanov told reporters.

    The actual inflation, according Siluanova in 2016 could reach "about six percent a year."

    At the same time, the Finance Ministry proposes to index pensions to the level of pre-crisis forecast of inflation: 5.5% in 2016, 4.5% in 2017, 4% in 2018.


    "If this is not done (to index social payments and pensions 4-5.5%), we do not fit into the parameters, and we have two choices: either we provide an additional sequestration costs, but it will be in 2016 7.6 %, 2017 - 13.7%, in 2018 - almost 20%, or will increase the budget deficit, which will lead to the fact that we spend much earlier provisions and will be forced to have recourse, possibly in 2018, to the monetary financing of that in our view, simply can not afford, "- said Siluanov.


    On the expenditure budget

    Budget expenditures on education, health, culture, transport development in the next three years will grow, said Siluanov.

    According to the basic budget projections approved by the Russian government in 2016 budget revenues amounted to 13.959 trillion rubles, expenses - 15.865 trillion rubles, in 2017 - 14.916 trillion rubles and 16.651 trillion rubles, in 2018 - 15.933 trillion rubles and 16.599 trillion rubles, respectively. The budget deficit of Russia in 2016 will amount to 2.4% of GDP, in 2017 - 1.9%, in 2018 - 0.7%.

    "We see that the basic core program spending is on the rise in 2015: Transport, on the space program in the Far East we are increasing spending by about 2-fold. On the development of education, health, culture - everywhere there is a growth in comparison with 2015 "- said Siluanov.

    He noted that according to the latest projections "budget structure is maintained without changing approaches do not change the basic principles of the budget for the 2016-2018 years."

    "For the main items we are increasing budget allocations, offer new challenges addressed by more efficient use of resources", - the minister said.

    Finance Ministry proposes to stick to tight fiscal policy when the budget for the next three years. He proposed a package of measures to optimize budget spending. The most controversial was a proposal to lower indexation of social payments and pensions at the level of pre-crisis inflation forecast.

    On the sources of deficit financing


    According Siluanova, the budget deficit in the years 2015-2017 will be funded primarily by the Reserve Fund.

    "If we look at the budget deficit and the sources of its funding, the main source will spend reserves. At the beginning of this year, the Reserve Fund amounted to slightly more than 5 trillion rubles, and we provide the use of the Reserve Fund this year in the amount of 2.5-3 trillion rubles and in 2016-2017 we expect to use a little more than 1 trillion rubles in 2018 to preserve it ", - the minister said.

    He noted that according to the Ministry of Finance, in 2018 the fund will be about 500 billion rubles.

    According to preliminary Ministry of Finance budget projections, the agency plans in 2016 budget deficit at 2.4%, in 2017 - 1.9%, 2018 - 0.7% of GDP.

    Completion of the Reserve Fund


    Reserve fund after 2018 would allow, including the impact on exchange rate policy and not give too ruble strengthened, which is beneficial from the point of view of the Russian Federation increasing the competitiveness of domestic products, said Siluanov.

    "When we talk about replenishing the reserve fund, it is not only the creation of the reserve, but also on the macroeconomic impact of government purchases of surplus currency in order to favorably influence the course, exchange rate policy", - the minister said.


    He recalled that until 2014 the ruble strengthened sequentially, which negatively affects the competitiveness of Russian products. "So, of course, the creation of reserves and the use of surplus oil and gas revenues in the reserves - this macroeconomic component, which does not allow the exchange rate to strengthen," - he concluded.

    According to the Ministry of Finance, the Reserve Fund in June increased by 5.6%, amounting to 1 July 2015 4 trillion 265.65 billion rubles. The volume of the National Welfare Fund (NWF) for the month increased by 4.5%, to July 1, 4 trillion 200.53 billion rubles.

    According to the Ministry of Finance, in 2018 it will be possible to begin replenishing the reserve fund in excess of the price of oil $ 70 per barrel.



    The Ministry of Finance expects the inflation slowdown in the Russian Federation, in June, it can be 0.2%, and then will continue to slow down, said Finance Minister Anton Siluanov told reporters.

    "Inflation will decline, we experienced the peak of inflation, which has been in the current year, we see that it is slowing to 0.1-0.2% per month. We expect 0.2% in June and in the coming months inflation decrease ", - he said.
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    Post  Austin Sat Jul 04, 2015 9:56 am

    Good News is Spending for Health Care , Education , Culture etc is gone up compared to 2015.

    The risk part is the Oil Price , I think Budget is project for Oil Price between $60 and $70.

    Reserve fund would be 500 billion roubles by end of 2015.

    Indexation wont be on base on actual inflation.

    I dont know the obsession of Finance Minister to balance the budget by 2018 , My country india has been staying with budget deficit of around 3-4 % for many many years. Also India has a Public Debt of 55 % of GDP.

    Also not sure why Russia is not moving to Sell Oil in Yuan and Rouble can some one tell me why not ?
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    Post  Neutrality Sat Jul 04, 2015 11:06 am

    Austin wrote:
    Reserve fund would be 500 billion roubles by end of 2015.

    Where did you get this from? 500 billion is projected for 2018 IF the oil price stays below 70 dollars up until 2018 which HIGHLY unlikely given the fact that the shale boom in America is over and their reserves are shrinking. If Iran stays sanctioned that will also play a role. However the Russians are hammering on to get these sanctions lifted so I'm sure they have it planned out (buying up Iranian oil in exchange for goods).
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    Post  ExBeobachter1987 Sat Jul 04, 2015 11:20 am

    Austin wrote:I dont know the obsession of Finance Minister to balance the budget by 2018 , My country india has been staying with budget deficit of around 3-4 % for many many years. Also India has a Public Debt of 55 % of GDP.

    It is easier for India to loan money than for Russia.

    Austin wrote:Also not sure why Russia is not moving to Sell Oil in Yuan and Rouble can some one tell me why not ?

    How many countries would pay with these currencies?
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    Post  max steel Sat Jul 04, 2015 11:43 am

    US rig count isnt decreasing . Exto yuan is 5th most used currwncy in i ternational payments . all those countries having swap agreemwnts with China can pay in Yuan . Got it ? and by 8 Yuan will become 3rd most used currency in Intrntl payment replacing british pound .
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    Post  Austin Sat Jul 04, 2015 12:37 pm

    Russia to Benefit From Lion's Share of Arctic Shelf Oil and Gas by 2030

    As per WPC calculation Russia seems to hold 110 bbl of Oil in Arctic , 3 of 4 major wells in Artic is in Russia while 1 is in US.
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    Post  Austin Sat Jul 04, 2015 1:06 pm

    Western Financial Sanctions Won't Break Russia

    I think most of companies payment will go from their own pocket and not from CBR reserves as the article states.
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    Post  kvs Sun Jul 05, 2015 1:53 pm

    max steel wrote:US rig count isnt decreasing.

    That does not mean that the supply is increasing or even staying the same. Non-conventional oil and gas plays require enormous
    amount of drilling activity. The typical lifetime for a well is much shorter compared to conventional wells. Production from non-conventional
    play wells also lacks the "fat tail" so cumulative production from all the wells drops much faster.

    http://www.artberman.com/shale-gas-rig-counts-are-too-high/

    Russian Economy General News: #4 - Page 31 Rig-Count-Tight-Oil-vs-Shale-Gas-Change-Table-21-March-2015

    So actually the number of rigs has dropped since 2014.
    Neutrality
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    Post  Neutrality Sun Jul 05, 2015 2:26 pm

    OPEC's strategy right now is to keep the oil price low enough to be still profitable but unprofitable for American shale companies. So what happens is that these shale companies don't open new rigs, the old ones eventually dry up at disadvantageous prices and they are forced to open new ones to stay in business. The number of oil rigs that they can drill and open is limited at that. So in the end the 62-64 dollars/barrel right now is the new 90-100 dollars from a year ago. You can imagine what's going to happen when OPEC decides to lower their quota and the last rigs in America continue to dry up. The price is going to skyrocket.
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    Post  victor1985 Sun Jul 05, 2015 9:59 pm

    How can a country stay with deficit? After all that deficit mean loan from somewhere. Because i never heard of starting a project whitout pay first. Question: can the central bank print money and take them to government for spent on projects?
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    Post  sepheronx Mon Jul 06, 2015 11:10 pm

    Russia non-primary: great economic turnaround

    Perhaps 2014 and 2015 will go down in Russian history as the years of great economic turn-around. In the set of standard criticism of Russia consistently applied caustic comments about the "oil and gas appendage", a "gas station" etc. etc. Meanwhile, according to the recently published data, in 2014 the share of non-oil exports amounted to 51, 5%and exceeded, thus, the size of the share of commodity exports in Russia. Total for the year of the Russian Federation sold abroad goods and services worth about $ 500 billion.
    According to the plans of the Ministry of economic development, by 2020 the amount of proceeds from the sale of non-oil goods and services will be from 467 to 513 billion, i.e. an increase of approximately 2 times. Oddly enough, on this important milestone of the country's development and future tectonic shifts, few wrote. It is unlikely the case in some conspiracy. Just, unfortunately, system changes often remain in the environment of journalists unnoticed.
    Meanwhile, Russia is steadily increasing exports of goods and services. One of the most advanced and dynamically developing sectors in which our country has in the world quite a few competitors — nuclear power. According to the Vice-President of the Russian Union of engineers Ivan Andrievsky, the nuclear industry is loaded contracts for the coming decades. Map projects of "Rosatom" striking scale: Turkey, China, Hungary, Vietnam, Egypt, Iran, Finland and other countries. Among the ongoing projects: Turkish nuclear power plant "Akkuyu" (to be built by 2020), the first unit of the Belarusian NPP (Rosatom plans to launch in 2018), Finnish "Hanhikivi-1"is going to pass in 2024. The revenues of the Corporation for the year 2014 amounted to $ 618 billion.

    Dunno if this has been posted yet:

    The external debt of Russia in the first quarter fell 22%
    kvs
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    Post  kvs Mon Jul 06, 2015 11:31 pm

    sepheronx wrote:Russia non-primary: great economic turnaround

    Perhaps 2014 and 2015 will go down in Russian history as the years of great economic turn-around. In the set of standard criticism of Russia consistently applied caustic comments about the "oil and gas appendage", a "gas station" etc. etc. Meanwhile, according to the recently published data, in 2014 the share of non-oil exports amounted to 51, 5%and exceeded, thus, the size of the share of commodity exports in Russia. Total for the year of the Russian Federation sold abroad goods and services worth about $ 500 billion.
    According to the plans of the Ministry of economic development, by 2020 the amount of proceeds from the sale of non-oil goods and services will be from 467 to 513 billion, i.e. an increase of approximately 2 times. Oddly enough, on this important milestone of the country's development and future tectonic shifts, few wrote. It is unlikely the case in some conspiracy. Just, unfortunately, system changes often remain in the environment of journalists unnoticed.
    Meanwhile, Russia is steadily increasing exports of goods and services. One of the most advanced and dynamically developing sectors in which our country has in the world quite a few competitors — nuclear power. According to the Vice-President of the Russian Union of engineers Ivan Andrievsky, the nuclear industry is loaded contracts for the coming decades. Map projects of "Rosatom" striking scale: Turkey, China, Hungary, Vietnam, Egypt, Iran, Finland and other countries. Among the ongoing projects: Turkish nuclear power plant "Akkuyu" (to be built by 2020), the first unit of the Belarusian NPP (Rosatom plans to launch in 2018), Finnish "Hanhikivi-1"is going to pass in 2024. The revenues of the Corporation for the year 2014 amounted to $ 618 billion.

    Dunno if this has been posted yet:

    The external debt of Russia in the first quarter fell 22%


    NATO and its master the USA expected Russia to go the way of Ukraine. To turn into a 3rd world toilet easily exploited. But instead it
    is on a solid development trajectory and will be amongst the top three economies of the world sooner rather than later. The US and its
    minions are fuming with anger and hence the obvious restart of the cold war and attempts to draw Russia into a hot war.

    Russia must not take the bait at all costs. WWI was a similar situation. Russia was rapidly rising before WWI and thanks to this
    war it was f*cked over for basically a century. Russia also needs to drive out all the foaming at the mouth malcontents to NATO.
    Get rid of the excrement, living with it is toxic. Let America get some more quality individuals to make it "great":

    sepheronx
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    Post  sepheronx Tue Jul 07, 2015 12:04 am

    kvs wrote:
    sepheronx wrote:Russia non-primary: great economic turnaround

    Perhaps 2014 and 2015 will go down in Russian history as the years of great economic turn-around. In the set of standard criticism of Russia consistently applied caustic comments about the "oil and gas appendage", a "gas station" etc. etc. Meanwhile, according to the recently published data, in 2014 the share of non-oil exports amounted to 51, 5%and exceeded, thus, the size of the share of commodity exports in Russia. Total for the year of the Russian Federation sold abroad goods and services worth about $ 500 billion.
    According to the plans of the Ministry of economic development, by 2020 the amount of proceeds from the sale of non-oil goods and services will be from 467 to 513 billion, i.e. an increase of approximately 2 times. Oddly enough, on this important milestone of the country's development and future tectonic shifts, few wrote. It is unlikely the case in some conspiracy. Just, unfortunately, system changes often remain in the environment of journalists unnoticed.
    Meanwhile, Russia is steadily increasing exports of goods and services. One of the most advanced and dynamically developing sectors in which our country has in the world quite a few competitors — nuclear power. According to the Vice-President of the Russian Union of engineers Ivan Andrievsky, the nuclear industry is loaded contracts for the coming decades. Map projects of "Rosatom" striking scale: Turkey, China, Hungary, Vietnam, Egypt, Iran, Finland and other countries. Among the ongoing projects: Turkish nuclear power plant "Akkuyu" (to be built by 2020), the first unit of the Belarusian NPP (Rosatom plans to launch in 2018), Finnish "Hanhikivi-1"is going to pass in 2024. The revenues of the Corporation for the year 2014 amounted to $ 618 billion.

    Dunno if this has been posted yet:

    The external debt of Russia in the first quarter fell 22%


    NATO and its master the USA expected Russia to go the way of Ukraine.   To turn into a 3rd world toilet easily exploited.   But instead it
    is on a solid development trajectory and will be amongst the top three economies of the world sooner rather than later.   The US and its
    minions are fuming with anger and hence the obvious restart of the cold war and attempts to draw Russia into a hot war.

    Russia must not take the bait at all costs.   WWI was a similar situation.   Russia was rapidly rising before WWI and thanks to this
    war it was f*cked over for basically a century.    Russia also needs to drive out all the foaming at the mouth malcontents to NATO.
    Get rid of the excrement, living with it is toxic.   Let America get some more quality individuals to make it "great":


    The one thing Russia has is their FSB is clearly on Russias side compared to SBU which was clearly on western side. Hence why they didn't seem to have a problem finding this recruiter for right sector. Trying to recruit Russian police is even funnier.
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    whir

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    Post  whir Tue Jul 07, 2015 12:45 pm

    sepheronx wrote:The one thing Russia has is their FSB is clearly on Russias side compared to SBU which was clearly on western side.  Hence why they didn't seem to have a problem finding this recruiter for right sector.  Trying to recruit Russian police is even funnier.
    Let's be honest, those wanting to join either side only have to do a search in Yandex or just asking around in VK so this case probably has a background of illegal activities and extremism that dwarfs any recruiting attempt and has only been made public to feed the press.

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