Signs Are Coming Fast Now - Could A GFC2 Be On Our Doorstep
Dec 17, 2014 5:52:40 GMT 10
SA Hunter and Fractus like this
Post by Matilda on Dec 17, 2014 5:52:40 GMT 10
This is from The National Inflation Association (they monitor inflation/deflation/hyperinflation around the world. inflation.us/putin-in-panic-as-emergency-rate-hike-backfires/
Putin in Panic as Emergency Rate Hike Backfires!
The Central Bank of Russia held an emergency meeting early this morning and announced at 1AMEST (9AM in Russia) that it has raised Russia's key benchmark interest rate by a shocking 650 basis points to 17%! This follows their Friday morning rate hike of 100 basis points to 10.5% - for a total interest rate increase of 750 basis points in three trading days!
We are sure Putin expected this morning's rate increase to drive the USD/RUB exchange rate back below 60. Instead of stabilizing the Ruble - this morning's dramatic rate hike has created a major panic and greatly accelerated the Ruble's free-fall!
The USD/RUB exchange rate is up 11.68 today to 77.28, which equals a 15.1% single day decline in the Ruble's purchasing power! Over just the last 48 hours, the Ruble has lost 26.2% of its purchasing power!
NIA hopes Janet Yellen is watching closely and learns how quickly a currency crisis can develop solely due to a sudden loss of confidence! There will soon be a time when she faces the same crisis here in America - with the world rapidly losing confidence in the US Dollar and rushing to dump it!
ALSO: Many media outlets are reporting that OIL is crashing. Silver and gold have also dropped In the last few days.
These are the triggers we need to be watching for.
Putin in Panic as Emergency Rate Hike Backfires!
The Central Bank of Russia held an emergency meeting early this morning and announced at 1AMEST (9AM in Russia) that it has raised Russia's key benchmark interest rate by a shocking 650 basis points to 17%! This follows their Friday morning rate hike of 100 basis points to 10.5% - for a total interest rate increase of 750 basis points in three trading days!
We are sure Putin expected this morning's rate increase to drive the USD/RUB exchange rate back below 60. Instead of stabilizing the Ruble - this morning's dramatic rate hike has created a major panic and greatly accelerated the Ruble's free-fall!
The USD/RUB exchange rate is up 11.68 today to 77.28, which equals a 15.1% single day decline in the Ruble's purchasing power! Over just the last 48 hours, the Ruble has lost 26.2% of its purchasing power!
NIA hopes Janet Yellen is watching closely and learns how quickly a currency crisis can develop solely due to a sudden loss of confidence! There will soon be a time when she faces the same crisis here in America - with the world rapidly losing confidence in the US Dollar and rushing to dump it!
ALSO: Many media outlets are reporting that OIL is crashing. Silver and gold have also dropped In the last few days.
These are the triggers we need to be watching for.
