Moscow is bracing for economic panic when markets open on Monday morning

[inanna]

00:07

Moscow is bracing for economic panic when markets open on Monday morning, with the value of the rouble expected to plummet further after the US and European Union announced unprecedented sanctions over the weekend.

Those measures targeted the Russian central bank, which has intervened to prop up the value of the rouble following Vladimir Putin’s order to invade Ukraine. They also marked the first time Russian banks have been excluded from the Swift international payments system.

Major Russian banks such as Sberbank and VTB Bank have assured their customers that they will be able to access their rouble deposits and make exchanges into foreign currencies like dollars and euros.

But the economic turbulence will mark a key moment when the gravity of the crisis in Ukraine hits home for many ordinary Russians.

https://www.theguardian.com/world/live/2022/feb/27/russia-ukraine-latest-news-missile-strikes-on-oil-facilities-reported-as-some-russian-banks-cut-off-from-swift-system-live?filterKeyEvents=false&page=with:block-621bd00c8f0873d0384b2694#block-621bd00c8f0873d0384b2694

[uponit7771]

1. Yep, RCB wants a stop sell on stocks for all foreign accounts. Reuters is reporting (link)

https://archive.fo/jpCIk#selection-451.0-455.56

[Best_man23]

5. Well, their traders had 2 days to unload their Russia investments.

Doom on them if they're still holding.

[smb]

2. The Ruble Will Be Rubble nt

[SheltieLover]

3. Someone there needs to remove him from power!

[smirkymonkey]

4. Does anyone else think that the entire world is going to feel the repercussions of this

tomorrow morning? I don't think it's just going to be Russia's economy that is in for a jolt.

[MarineCombatEngineer]

6. Well worth it. nt

[smirkymonkey]

13. This might not be just a short term blip.

I have no idea what's going to happen. Everything is just so crazy right now.

[MarineCombatEngineer]

15. Well, it's either that or we engage Russia in open combat,

and at that point, all bets are off.

There's no doubt that the US and NATO would hand Russia it's ass in a conventional war, but what happens when their national army is humiliated and destroyed and all they have left to defend their homeland is nukes?

I'll take the hit rather than the unthinkable.

[smirkymonkey]

16. Oh, yeah. I don't know the answer to that either.

I agree that avoiding a nuclear war is the number one priority over anything. Putin is just so unpredictable, I suppose it's going to be one of those "day at a time" kind of things. The world (especially Ukraine) doesn't really need this kind of stress and anxiety after going through two full years of a deadly pandemic.

[MarineCombatEngineer]

18. ...

The world (especially Ukraine) doesn't really need this kind of stress and anxiety after going through two full years of a deadly pandemic.

I think Putin was counting on the western democracy's being exhausted from the pandemic and his efforts to undermine our democracy, well, he guessed wrong and here we are.

[smirkymonkey]

19. No, I didn't mean that the west or Ukraine was going to roll over, I just meant that

it has been an ordeal for all of us.

But if anything, I think Zelensky and the Ukrainians have given us all the shot of hope and energy that we need to keep on going and fighting against authoritarianism and corruption. I certainly feel renewed faith and courage to keep fighting the good fight.

[MarineCombatEngineer]

20. My apologies,

I didn't mean to imply that you were suggesting that.

[smirkymonkey]

21. Cheers, MCE!

Have a good evening!

[MarineCombatEngineer]

22. You also. nt

[calguy]

7. US markets already down big ninety minutes into futures trading in Asia

Dow is down -526
S&P down -100
Naz down -347

This could change by the time markets open in US. The world has all night to digest the news.

[smirkymonkey]

10. Hold on to your seats. I think it's going to be a bumpy week.

[calguy]

11. This is why I'm a day trader. I'm 100% cash when the markets are closed.

[Johonny]

25. No

Their economically insignificant. Gas and oil cost will go up in Europe, maybe here out of greed. But beyond that, it's the Russians that need the rest of the world.

[smirkymonkey]

26. Yes, but the money of the oligarchs still props up a lot of corrupt institutions and funds

around the world, don't they? I think this will probably reverberate a bit more than we expect.

[roamer65]

8. Rouble deposits are easy to guarantee.

The Bank of Russia will just create more roubles.

The exchanges to foreign currency will disappear very quickly.

[Buckeyeblue]

24. That's very true

People will withdrawal Rubbles that won't be worth the wallets the stuff them into.

[LiberalFighter]

9. Does the orange idiot have money invested?

Probably can't afford too.

[calguy]

12. The better question would be... does he HAVE any money to invest.

[FakeNoose]

14. I bet the banks won't open their doors on Monday a.m.

[Meadowoak]

17. we will know in about 3 hours from now.

[Shanti Shanti Shanti]

23. Why do the Brits call the ruble....the rouble?