Train wreck

Great Reset It's Probably Nothing 46 Comments

No matter which side of the fence you are sitting on regarding the Ukraine, one thing appears to be certain: Russia is headed for default. European creditors are going to get hit the worst.

Holders of Russian government dollar bonds with coupons due on Wednesday have not received confirmation of payment as of close of business in London, according to Reuters, raising fears that the Russian default – the first since 1998 – may be imminent (once the 30 day grace period expires).

At issue are two dollar-denominated government bonds which have $117 million in interest due today. Failure to pay – or attempting to pay in rubles instead of dollars – would potentially place Russia in default by its creditors. As discussed last night, the bonds have a 30-day grace period, so creditors can’t officially declare default until April 15.

46 Replies to “Train wreck”

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  3. Biden et al did this.

    When crooks seize control of government and install puppets expect hurt.

    Russia is cleaning Ukrainian silver with tnt. Hopefully Russia will clean our ranked with suffer.

    1. Speaking of The Turnip, I need to get more of them ” I did that ” stickers of Blackie for the fuel pumps, supermarket shelves, parts stores, The Coof vexx sites, etc………

  4. Let’s see. Russia will then no longer be beholden to Globohomo’s fiat currency system and will establish a gold standard currency and bank with China, India and South America. Who’s supposed to be the loser again? You want Russian oil, gas, fertilizer, rocket engines, etc, etc…we no longer accept dollars…comrade.

      1. No article, but think of lending a family member or that mooching semi-friend money. It automatically becomes a gift so trying to collect it is futile. The family member or mooching semi-friend then goes on to great riches. You’re stuck holding the bag because the cost of getting it back, which is no way guaranteed, is more than what you’re owed.

      3. The Weimar Republic set up the Rentenmark – backed acerages. The US was having none of that, and convinced BoE to call in loans on Germany. The result was Hitler, and total repudiation of foreign debt, and full rearming of Germany.

        You are not going to like where this ends up. If/when Putin is removed, … you are really going to hate his successor. Putin still likes us somewhat. His successor will unleash Chechen jihadis, bio weapons, and homegrown insurgencies on the West.

        And such a man will be loved and adored in the developing world even more than Putin is.

    1. IN genius (Wile E Coyote/Bugs reference)

      It’s as if leaders of the free world were making bad decisions on purpose, to tank the western world”s economy for Klaus’ benefit. Nah, would never happen.

      I’m sure the collection agencies have Vlad’s number on speed dial.

    2. It is beyond brilliant John, but this is the level of stupid we live with day after day.

  6. I don’t know so I am asking. Does western Europe pay Russia for its oil and gas in U.S. dollars?

  7. So what exactly does Russia owe the west at this point that it can’t pay off in weapons-grade plutonium? Because I really can’t think of anything.

    I dare say having to write off Russian investments is no longer Wall Street’s worst-case scenario.

      1. I know that.

        What incentive does Russia have to service debts to people who hate her and want her dead?

        1. The real question is just how much do the creditors want to spend on collecting? Or just do the Brian Mulroney thing and forgive the debt?

        2. Remember that question, the next time Siberian Mongols will be begging for credit. Even chicoms will be reluctant.

  9. If you were dumb enough to lend the Russian government (or any government for that matter) your money you’re a dumb ass and let this be a lesson to you.

      1. funny about lending (fleas not so much) is what i had intended to respond to and in any case the comment on dogs and fleas is a point well-taken…. still, everyone must agree, that when it comes to dogs and fleas – kate’s pack is the exception.

        1. kennel is the better word.
          it’s, like, more zen.
          and happy st. patrick’s day to you all.
          there are no snakes in ireland.

          1. Snakes be your friend in getting rid of vermin.
            Wish I could dump a whole passel of them into the laps of our leaders.
            Let them experience an ” Egyptian ” Cleopatra moment, vipers for vipers.

            A Happy tip of the Irish to you also.

  10. Virtue signaling can have unintended consequences. Who knew? I’ve been following The Duran lately and the narrative is quite the opposite of what our MSM preaches.

  12. A default would mean that Russia will have great difficulty borrowing money in the future, which means they could have difficulty funding future military spending. This would be especially so should the price of petroleum drop.

    And that’s a good thing. Starve the beast.

    1. Thus, there could be merit in doing the Brian Mulroney thing. That is, provided you don’t continue the Mulroney thing and start loaning more.

    3. Except for two important factors that negate your point.
      1- Russia has the largest gold reserves in the world.
      2- Chiner money.

      Stop listening to anything in the MSM. Nothing is accurate.

      1. Exactly what I thought

        Plus we have defaulted many times and it was all papered over with digital obeying money derivatives

        Global Debt Hits A Record $300 Trillion, Up $36 Trillion Since COVID

        That works roughly out to $406,504,065.04 a day since Christ was born.

  13. I’ll be interesting to see who walks away with everything once the dust settles. We know who loses, everyone on an everyday salary/ wage everywhere around the world.

  14. Ho Hum,
    More geopolitical sleazery,
    Enacted easily,
    Nothing to see here, little one,
    Oligarchs already won.
    All that’s left to bear,
    Is under the old sun’s glare.
    So there,
    No underwear,
    All foul, not fair.
    But don’t despair,
    Mon frere,
    We may or may not be getting there

  15. Haven’t the ruskies defaulted in the past?

    My guess is there will be support from the chicoms.
    They have skin in this game. Lots of it.

    1. And the Russians won’t be hurt by it either.

      Just those who loaned them millions. Well, that’s the risk of trusting the Russians, and the Bidet Demarxists.

  17. off the cuff, russia is still hedging and is entirely capable of playing on both sides of the street. if finance were ever to get tattered in moscow, would russia go with a deal from the imf or cement (which enjoys a great soviet legacy) with jade dragons.
    there are credible rumours that dragons are partial to gold and the colour red.

  18. First – a gold backed ruble would through Russian corruption and mismanagement soon lead to a run on their gold.
    Second – are Russian gold reserves like Chinese gold reserves – make believe.
    Third – Russia is fooked. Until they Ceaușescu Putin and beg forgiveness, the hurt in Russia will be unmanageable. Remember that in the best of times Russia is closer to third world than to the US.
    Fourth – Russia’s biggest enemy is China. If Russia falters, China is ready to scoop up Asiatic Russia. Russia is severely underpopulated for its size and everyone aborts their kids or leaves.

      1. So what you’re saying is Russia isn’t 100% corrupt, the gold bullion backing Chinese debt is actually real, Russia is not a third world economy, and China has no territorial interest in Asia. Not many people agree with you.

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