Monday, December 22, 2014

What's going to happen: Russia,Oil Price and Cold War

Игорь Сидоров said...
Hello, FerFal!
Hope I can provide you some inner view of the situation.
Yes, ruble felt up to 80 rubles per $ at Tuesday, but two days later 1$ is 59 rubles and price is doing down.
This was clearly a speculative attack against national currency, because there are no fundamental reasons for such a drop. Actually, some people (who don't have much rubles on hands) just laught, others spent money on large TV, new cars or something like this. We have survived at least two such crysises - at 1998 and at 2008, and currenty we don't see anything worse than in those years.

 Thanks for the first hand account!
It does sound similar to what people do in Argentina. Keep in mind that over there there's 30%-40% inflation, so they try to "get rid" of money as fast as they can. TV, car, those that can, real estate, but the idea is to buy something before inflation destroys it anyway.
Here' s video I did about my opinon regarding what's going on right now.

2 comments:

Lena said...

Hello!
Some another point about enemy )
"clearly a speculative attack against national currency" ? Really?
After that incidents it became known that only Rosneft satisfied a debt in 7 billion dollars!
I think, main speculators are in the government.
If ruble fall down - budget of Russia is grows up: because the most part of the budget is oil sale in usd.

Anonymous said...

"...others spent money on large TV, new cars or something like this"

Why not food?