Politics in the Zeros

Rumble in the Ruble

Bob Morris on Feb 10, 2009, 8:29 am

The ruble is cratering, Russia is about to default again on their debt, and Russian firms are using barter to purchase goods, not the ruble.

Sounds like a currency that is circling the drain. The international currency speculators are no doubt already circling like vultures.

Bob Morris on Jan 21, 2009, 2:36 pm

The Russian government has given up trying to prop up its sagging ruble, and will instead do a “dirty float”

“A dirty float would look like it was a free market but the central bank would still have a measure of control”

By doing this, their central bank has already admitted they’ve lost control.

Anyway, [...]