[Politics] Russia invades Ukraine (24/02/2022)

[Surport Local Team]

China has many problems, this I hope will mean they really won't wont to have a trade war with the west. Really good explanation of China problems.

 

[mothy]

https://fortune.com/2024/11/24/russian-war-economy-ukraine-peace-deal-vladimir-putin-donald-trump/ a rare positive

 

[sparkie]

The Ruble is on the slide again this morning

Wonderful news.

 

[Eric the meek]

China has many problems, this I hope will mean they really won't wont to have a trade war with the west. Really good explanation of China problems.

A very good talk. I saw that on my Youtube feed, and bypassed it, but there's a lot of info in it.

I took particular note that 'half of China's rivers are not fit for coming into contact with humans, let alone drinking'. I remember reading a while back that China is looking longingly at Lake Baikal as a source of fresh water.

 

[Eric the meek]

Cyprus may be applying to join Nato....

 

[Eric the meek]

Can any economist or trader interpret this graph? I trade stocks, ETFs, funds and investment trusts, but never currency.

What I - think - is happening, is a battle between buyers and sellers, the buyers being the central bank (I can't imagine there are many institutional or private buyers), and sellers being private individuals and traders shorting it in the belief it will fall further. Does this sound right?

I've added in the Yuan/Renminbi as that is what Russia trades most in. You can see the Yuan and USD are almost identical against the ruble.

USD/RUB Currency Exchange Rate & News - Google Finance

Get the latest United States Dollar to Russian Ruble (USD / RUB) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.

www.google.com

Edit: 106.5 !! Sorry 106.65..... No, wait.....

 

[Triggaaar]

Can any economist or trader interpret this graph? I trade stocks, ETFs, funds and investment trusts, but never currency.

What I - think - is happening, is a battle between buyers and sellers, the buyers being the central bank (I can't imagine there are many institutional or private buyers), and sellers being private individuals and traders shorting it in the belief it will fall further. Does this sound right?

I've added in the Yuan/Renminbi as that is what Russia trades most in. You can see the Yuan and USD are almost identical against the ruble.

USD/RUB Currency Exchange Rate & News - Google Finance

Get the latest United States Dollar to Russian Ruble (USD / RUB) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.

www.google.com

Edit: 106.5 !! Sorry 106.65..... No, wait.....

I'm still getting 105?

 

[Eric the meek]

I'm still getting 105?

It spiked at 106.65, and then very quickly came down in a straight line. Pretty sure that's the central bank buying.

Caveat - I could be wrong and frequently am.

 

[Eric the meek]

It spiked at 106.65, and then very quickly came down in a straight line. Pretty sure that's the central bank buying.

Caveat - I could be wrong and frequently am.

Edit: calling @seagullwedgee - your presence is requested.

 

[raymondo]

A very good talk. I saw that on my Youtube feed, and bypassed it, but there's a lot of info in it.

I took particular note that 'half of China's rivers are not fit for coming into contact with humans, let alone drinking'. I remember reading a while back that China is looking longingly at Lake Baikal as a source of fresh water.

It's interesting that China has huge industries devoted to renewables (solar and wind) and to EVs, both for export and domestic markets. They know they have a dirty air problem.
However, their river and air pollution remain shocking, and I guess the new industries may be contributing to that.

 

[Eric the meek]

It's interesting that China has huge industries devoted to renewables (solar and wind) and to EVs, both for export and domestic markets. They know they have a dirty air problem.
However, their river and air pollution remain shocking, and I guess the new industries may be contributing to that.

Yes, there's a downside to letting unregulated development rip for 1.4 billion people. It brings a whole new meaning to the phrase 'resources are finite'. Air and water being two of them.

A possible upside for the short to medium term, is that the decline of peak China should produce a commensurate decline in their demand for Russian oil and gas. In every cloud, there's a silver lining.

Going back to Lake Baikal, Paul Warburg suggested that in the future, (decades not years), we may have to redraw the borders a bit.

 

[raymondo]

Yes, there's a downside to letting unregulated development rip for 1.4 billion people. It brings a whole new meaning to the phrase 'resources are finite'. Air and water being two of them.

A possible upside for the short to medium term, is that the decline of peak China should produce a commensurate decline in their demand for Russian oil and gas. In every cloud, there's a silver lining.

Going back to Lake Baikal, Paul Warburg suggested that in the future, (decades not years), we may have to redraw the borders a bit.

Yes, Baikal may well be on the list - it won't last long as a reservoir with that many customers!

 

[raymondo]

This would be interesting. A friend visited there (Greek side) last winter for two months and confirmed...loads of monied Russians there.

 

[Surport Local Team]

Back to 106.74 again, will it be as brief as before? Let's hope not!!

Wow can not take my eyes off it, 107.74 What is happening

 

[fly high]

Can any economist or trader interpret this graph? I trade stocks, ETFs, funds and investment trusts, but never currency.

What I - think - is happening, is a battle between buyers and sellers, the buyers being the central bank (I can't imagine there are many institutional or private buyers), and sellers being private individuals and traders shorting it in the belief it will fall further. Does this sound right?

I've added in the Yuan/Renminbi as that is what Russia trades most in. You can see the Yuan and USD are almost identical against the ruble.

USD/RUB Currency Exchange Rate & News - Google Finance

Get the latest United States Dollar to Russian Ruble (USD / RUB) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.

www.google.com

Edit: 106.5 !! Sorry 106.65..... No, wait.....

1 RUB to USD - Russian Rubles to US Dollars Exchange Rate

Get the latest 1 Russian Ruble to US Dollar rate for FREE with the original Universal Currency Converter. Set rate alerts for to and learn more about Russian Rubles and US Dollars from XE - the Currency Authority.

www.xe.com

Seems to be in freefall which Russian bank can't stop.

 

[Eric the meek]

Back to 106.74 again, will it be as brief as before? Let's hope not!!

Wow can not take my eyes off it, 107.74 What is happening

I only went into the kitchen to wash up.

Cripes! I'm finding it exciting and unsettling in equal measure. No, scrub that. It's mostly exciting. Wow.

I think we may be witnessing the death of the ruble. It's historic, and it's happening now.

 

[raymondo]

It dropped 1.0% as I calculated my niece's tax refund claim...and I'm not THAT slow

 

[Triggaaar]

It's 106. Eric needs to do more washing up.

 

[Eric the meek]

I feel sorry for Elvira Nabiullina, the governor of the central bank. She's a Bashkir, from Bashkortostan.

So the story goes, she wanted to resign when the war broke out. But she wasn't allowed to. Putin wouldn't accept her resignation.

Expect to see her blamed by Putin shortly.

 

[Eric the meek]

It's 106. Eric needs to do more washing up.

Have I called the collapse too early? Should I offer my resignation?

I wanted to spend more time with my family anyway.