PortKells wrote: ↑Sun Feb 27, 2022 2:44 pm
Intellectually, it doesn't make sense to think it's going to happen. But intellect seems to be missing here so it's not to get a little clenching going on.
The next few days will be fascinating. Ukraine might actually have a chance here.
the stock market opens up in Russia in 4 hours (I'm posting this at 6pm-ish) Moscow has instructed that brokers cannot fill offshore sell orders which means unfilled orders are going to jam up the Russian exchange driving it down
with Russian banks out of SWIFT (eta, aside from oil and gas trades..
) they won't be able to get money out anyway - Japan just joined Europe and N America in removing Russia from SWIFT
photos out of Russia show lines at the ATMs which ran out of money in 40 minutes. allegedly $10Billion has already been withdrawn
Visa and Mastercard have frozen Russian cards - they will no longer work outside of Russia. Paypal has done something similar
there is speculation that Oligarchs will use Crypto to get around SWIFT as apparently Russia has a significant portion of crypto reserves but that trade will be dodgy and traditional buyer may not want to play (no guarantee of getting their funds)
this will likely lead to a run on the Russian banks tomorrow morning- an Austria based subsidiary of Russian bank Sberbank has already been ruled to likely to fail tomorrow
as of an hour ago the ruble was down 30%...er make that 47% in "pre-trading", the Russian market is down 50% since September and there will be nothing to support it due to the above
this just became a huge civil crisis in Russia, obviously I can't predict but I do suspect that the pending civil crisis just became a new front in Putin's war, I hope it will distract and make the whole nuke things irrelevant.