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Oil Prices Cost Russia $100 BN, Sanctions $40 BN News Oil Prices Cost Russia $100 BN, Sanctions $40 BN
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Old 11-24-2014, 06:18 AM   #1
RummyBoy
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Oil Prices Cost Russia $100 BN, Sanctions $40 BN
BBC News - Oil price slide and sanctions 'cost Russia $140bn'

Oil prices reversal is expected for next year.
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Old 11-24-2014, 06:42 AM   #2
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Originally Posted by RummyBoy View Post
BBC News - Oil price slide and sanctions 'cost Russia $140bn'

Oil prices reversal is expected for next year.
Yes, according to Siluanov: https://translate.google.com/transla...522&edit-text=

On the other hand, ruble is still raising towards USD and EUR. This makes me worry a bit...
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Old 11-24-2014, 06:45 AM   #3
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I read somewhere how manipulation with oil price is what caused soviet union to collapse.
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Old 11-24-2014, 06:51 AM   #4
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Originally Posted by CyberSEO View Post
Yes, according to Siluanov: https://translate.google.com/transla...522&edit-text=

On the other hand, ruble is still raising towards USD and EUR. This makes me worry a bit...
It gained for a single day... it's down 30%.
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Old 11-24-2014, 07:17 AM   #5
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We know how a cornered rat can act. Watch what happens.
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Old 11-24-2014, 07:28 AM   #6
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I read somewhere how manipulation with oil price is what caused soviet union to collapse.
Weren't the main reasons that Russia was already in debt? And that got compounded by the Afghan War and then subsequently the Chernobyl disaster (or in the reverse order)?
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Old 11-24-2014, 07:30 AM   #7
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On the other hand, ruble is still raising towards USD and EUR. This makes me worry a bit...
Are Russians hanging onto foreign currencies?
Or are they buying gold/silver?
What is common man on the street doing with money?
Is there any inflation?

I hope it doesn't impact you negatively.....
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Old 11-24-2014, 07:33 AM   #8
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What is common man on the street doing with money?
.
Spend it on vodka ?
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Old 11-24-2014, 07:50 AM   #9
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Weren't the main reasons that Russia was already in debt? And that got compounded by the Afghan War and then subsequently the Chernobyl disaster (or in the reverse order)?
Russia's budget is based on $100 a barrel oil sales.
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Old 11-24-2014, 08:06 AM   #10
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It gained for a single day... it's down 30%.
Ruble did 3% up just recently. I'm used to exchange my dollars (you know I earn in USD and EUR) as $1 for 47.8 rubles, now it's only 44.5 rubles. I'm loosing my money on that rate, actually.
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Old 11-24-2014, 08:10 AM   #11
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I read somewhere how manipulation with oil price is what caused soviet union to collapse.
And that was truth. It was a financial factor. However there was a social factor. The system was rotten and nobody wanted to continue live this way. People already felt the smell of real money when Gorbachev allowed people to have their own business and hire the employees. So when both factors have summed up together, the Soviet Union has collapsed from inside.
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Old 11-24-2014, 08:15 AM   #12
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Originally Posted by RummyBoy View Post
Are Russians hanging onto foreign currencies?
Or are they buying gold/silver?
What is common man on the street doing with money?
There is no 100% recipe for that. All economists recommend to diversify the savings.

Quote:
Originally Posted by RummyBoy View Post
Is there any inflation?
Sure there is an inflation. Something about 7%-8% for this year.

Quote:
Originally Posted by RummyBoy View Post
I hope it doesn't impact you negatively.....
This impacts me positively only because I don't earn in rubles. But I spend 'em
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Old 11-25-2014, 12:01 PM   #13
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Just one of the possible solutions: https://translate.google.com/transla...7d3&edit-text=
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Old 11-25-2014, 12:07 PM   #14
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I hope all that fine russian pussy is doing OK!
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