the crash just happened a little while ago, but they've been at it for a week or so
https://www.irishtimes.com/news/crime-and-law/man-arrested-after-truck-driven-into-gates-of-russian-embassy-1.4820488
for those that want to think about something. if russia falls. what happens to all those countries that have been buying russian weapons. what happens to its allies that were depening on russia's veto power. =)
(1 vote)
Comments
(Old Spike)
More importantly, what happens to Escape from Tarkov?
(Site Administrator)
> if russia falls
lmao
(Old Spike)
i'm not sure if your paying attention but putin just decreed that firms can repay its foreign debt to "hostile" nations in worthless rubles. its costing close to 6 million to insure 10 million on credit default swaps, 80% chance of russia defaulting on its debt
(Site Administrator)
I'm trying to pay attention but things are happening pretty fast. I didn't know that's what you meant by "falls" & don't think it'll be as bad as the 1990s under Yeltsin. Russia is sure to see some short term economic pain, as is western Europe. US is sitting relatively pretty for now but in weaponizing the US-centered global financial system like they have this should only accelerate its demise as other countries are seeing how unreliable it is & move to protect themselves from it.
Thing about Russia's economy is they've prepared for this scenario for years, maybe didn't expect to lose access to 2/3 of their foreign reserves overnight but still I don't believe it's gonna collapse the country in a serious way. Western Eurofags are gonna be reeling from the fallout in the months ahead, especially as food+energy prices keep rising.
tph economics is hard & not my strong suit but I try to learn real world stuff as I go - I don't know the implications of Russia defaulting on bonds - most of it would be tied up in markets who've already stopped doing business with Russia's central bank & even frozen Russia's assets (which are much larger than the bonds owed) so how this works ... I'll need an economist to splain it.
reading this doesn't make it sound like "Russia falls" if they default on next month's bond payments:
https://news.yahoo.com/russia-might-default-bonds-110021632.html
looking at this the ruble isn't going into complete meltdown just yet
https://www.xe.com/currencycharts/?from=USD&to=RUB&view=1W