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Global Automakers Get Blasted in Russia by Ruble Crash

wolfstreet.com / by Wolf Richter / December 19, 2014

Russians are watching with trepidation and with memories of what happened last time to their rubles: near total destruction. They trust their banknotes as far as they can throw them. And they’re taking action. They’re converting their rubles into dollars and euros, thereby contributing to the […]

The Ruble Rebounds

acting-man.com / Pater Tenebrarum / December 19, 2014

Is the Panic Low In?

Below is a daily chart of the Russian ruble. When we recently wrote about the currency’s collapse (see “The Russian Rubble”) we noted:

“It is a good bet that the ruble is by now egregiously undervalued, even in light of the oil […]

Emerging Markets In Danger

zerohedge.com / by Erico Matias Tavares via Sinclair & Co. on 12/18/2014 11:00

There are some signs of trouble in emerging markets. And the money at risk now is bigger than ever.

The yield spread between high grade emerging markets and US AAA-rated corporate debt has jumped, almost doubling in less than three weeks […]

The Stuff Is Already Hitting the Fan in the Currency Markets

news.goldseek.com / By Graham Summers / 18 December 2014

Stocks are rallying hard for three main reasons:

1) Janet Yellen’s press conference managed to confuse everyone into thinking that the Fed might prop stocks up longer.

2) The Swiss National Bank cut interest rates to negative in an effort to depreciate the Franc.

3) It’s […]

Currency Fluctuations and Troubled Global Economy to Drive Gold Higher

Chart courtesy of www.StockCharts.com

news.goldseek.com / By Moe Zulfiqar BAS / 18 December 2014

There are too many analysts who are concerned about deflation, a period during which the price of general goods declines. Because of this, analysts are not too keen on gold. They say the yellow metal is only good for one’s […]

Switzerland imposes negative interest rates to keep franc from rising

gata.org / By Jemima Kelly / 2014-12-18 13:21

Interest Rate Cut Shocks Swiss Franc Lower

By Jemima Kelly Reuters Thursday, December 18, 2014

LONDON — The Swiss franc hit a 28-month trough against the dollar and fell against the euro on Thursday after the Swiss National Bank said it would introduce negative interest rates to […]

Is Russia Being Driven Into the Arms of China?

goldcore.com / By paulaflood / December 18, 2014

The relationship between Russia and China has morphed with these changes. Russia supplies China with hi-tech military hardware. Russia has negotiated two major natural gas deals with China in the last year. China expects to double it’s gas usage by 2030. So from a Chinese point of […]

U.S. Declares (Currency) War On Russia

bullionbullscanada.com / by Jeff Nielson / Wednesday, 17 December 2014 13:51

U.S. economic terrorism (i.e. the One Bank’s economic terrorism) has hit a new extreme this week. This crime syndicate has launched what can be termed nothing less than an all-out effort to destroy the economy of Russia.

Its modus operandi is, once again, […]

Man U.S. Called Upon To Execute QE1 Warns Major Chaos To Erupt In 2015

kingworldnews.com / December 17, 2014

Today the man the United States called up on to execute QE1 warned King World News to expect even more chaos to erupt in 2015. He also discussed what this will mean for investors in major markets, including gold. Andrew Huszar, who built the Fed’s massive trading room, also […]

Ruble Spirals Elegantly out of Control as Functional Currency

wolfstreet.com / by Wolf Richter / December 17, 2014

On Wednesday, the frazzled Russian Ministry of Finance tried to get a grip on the currency crisis that is annihilating the ruble by announcing through the Russian news agency Interfax that it began selling its crown jewels, the already dwindling foreign currency reserves, in order to […]

This Is What a Currency Collapse Looks Like: Shopping Frenzy: “We Have A Lot Of Rubles Losing Value Every Second”

shtfplan.com / Mac Slavo / December 17th, 2014

Russians have seen the writing on the wall and they know that they’re economy and currency are in serious trouble. Though the Russian central bank has pledged to protect and stabilize the Ruble, which has collapsed by nearly 50% versus the dollar in the last several months, […]

The Ruble Dies, Bankers Fret, Russia Sells Crown Jewels to Stem the Chaos

wolfstreet.com / by Wolf Richter / December 17, 2014

On Wednesday, the frazzled Russian Ministry of Finance tried to get a grip on the currency crisis that is annihilating the ruble by announcing through the Russian news agency Interfax that it began selling its crown jewels, the already dwindling foreign currency reserves, in order to […]

A Full-Blown Economic Crisis Has Erupted In Russia

theeconomiccollapseblog.com / By Michael Snyder on December 16th, 2014

The 8th largest economy on the entire planet is in a state of turmoil right now. The shocking collapse of the price of oil has hit a lot of countries really hard, but very few nations are as dependent on energy production as Russia is. Sales […]

Ruble Moves 25% Intraday; Bid/Ask Spread at Latvia Currency Exchange Goes Wild; Ruble a Buy?

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / December 16, 2014

Reader “Luke” from Riga, Latvia emailed an amusing image he took today of exchange rates at the Latvian currency exchange “Marika”.

Latvia is on the Euro.

Notes

Pērk means buy. Pārdod means sell. The bid/ask spread for euros to British Pounds (GBP) at […]

Where Are We Now? And What Does It Mean For The Fed

zerohedge.com / By Guy Haselmann via Scotiabank / 12/16/2014 13:0

Via Scotiabank’s Guy Haselmann,

The current market environment means that prices of securities can move wildly and to previously unforeseen and unexpected levels. For many, P&L management and financial survival will trump economic valuation. Capital is flowing quickly in a market place rife with compromised […]

Surprise! Guess which currency has stronger fundamentals— the dollar or… ruble?

sovereignman.com / by Simon Black on / December 16, 2014

Last night, the Russian central bank announced a shock decision to hike up its key interest rate from 10.5% to 17%, effective immediately. Incredible.

On Monday alone the ruble declined more than 9% against the dollar, and almost 50% in 2014. It looks like a […]

As Seen In Front Of A Russian Currency Exchange Office

zerohedge.com / by Tyler Durden / 12/16/2014 09:14 -0500

And bank dealers thought bid/ask spreads on CDS were wide. Perhaps US banks with sliding revenues should just open a few FX kiosks by the Moscow train station and make up for all that lost income from hundreds of billions in FX-rigging legal settlements?

Currency rates […]

17 Reasons Why I Trust Silver

goldsilverworlds.com / Gary Christenson / December 15, 201

War and Inflation From Earnest Hemingway: “The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.” This was true before WWII […]

The Sellside Reacts: “17% Rate Hike Not Enough” According To Citi, JPM; Goldman Positive: “Removes CBR Uncertainty”

zerohedge.com / by Tyler Durden / 12/15/2014 23:00 -0500

Two short hours ago Russia shocked everyone with an unprecedented rate hike sending the nation’s various interest rates some 650 bps higher. Well, according to the initial sellside responses, as shocking as the move was, it is not nearly enough.

Here is Citi:

Many market […]

A Lesson For Today’s Currency Crises: Black Wednesday 1992 – When Intervention Failed

zerohedge.com / by Tyler Durden on 12/15/2014 22:15

The 16th of September 1992 will go down in infamy as the day intervention failed and the British government lost control. By the end of Black Wednesday, George Soros had made a billion dollars and the UK Treasury, Bank of England had blown through taxpayer money […]