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Sanctioned Bank Rossiya ditches foreign currency for ruble

28.03.2014 14:13

Bank Rossiya which was blocked last week by Visa and MasterCard says it will limit its operations to the domestic market and stick to the ruble. The bank wants to protect its clients against any possible "unfair action" by foreign financial institutions.

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Comments (42) Sort by: Highest rating Oldest first Newest first


Vignesh Do 03.04.2014 15:09

good desicion .... unlike US who show attitude and create wars .. this is a good way to go :)


Daniel Astudillo Estrella 31.03.2014 13:08

Great, that is how it has to be done. I am sorry to write this lines in english, as my first language is spanish. But this way I am hopefully understood. I know that Russia can only get as winner out of thos Dollarmonopol. - and i agree - with their politics they set the end of their manipulative valuta. - money shall help a nation to get its national business running, it is not meant to black mail nations to create wars, to murder 100 people in set up sniper events. That is the end of the dollar. And the rebirth of a country - by meassures - the biggest in the world.


rogirl 31.03.2014 12:46

Well there goes the first big nail banged publicly into the confidence coffin of the US dollar, and quite wise too. This is the beginning of a domino effect and the best thing about it is that the US brought it upon on itself with silly threats and blackmail, serves it right!


Pat Richards 31.03.2014 10:27

Great way to show the western mafia that once you scr*ew over a country like Russia there is no going back. If there were more countries like this US would be powerless. Now all we have to do is get rid of puppet regimes and there is going to be a real free world.


Pat Richards 31.03.2014 10:24

Robert Mould 30.03.2014 01:37

They just sold off 43 tons of Ukrainian Physical Gold!<BR>in return for IMF loan of paper!<BR>< BR>To unelected government. What a scam. recall gold was going to 1390 and after Ukraine Gold sold off the now down 1290


That is so true friend. Nice way to get some gold. Once the people in Ukraine wake up I think that some people will flee like from the country like the devil from the church.


Gabriel Acobian 31.03.2014 03:19

A step in the RIGHT direction.


penelope powell 30.03.2014 23:15

US has no intention to repatriate German gold. Germany is such a puppet that they insist their gold is safe w US. Ukraine's $1.8B in gold was transferred to NY Fed for safekeeping-- if you believe that.
I wonder how the valuation of the ruble wd be affected if Russia started selling their oil in rubles as well as non-dollar currencies.


George Edwards 30.03.2014 21:35

So insvestors are now in anxious anticipation of incipient Ruble-omics. What exactly defines currency valuation, and capitol flow? That would be short and long term expectations of depreciation, appreciation, as well as rates of return on productive investment. Personally, I feel that the Ruble will be 'healthier' within the Eurasian sphere of economic activity as hemispherical 'free' market metrics have taken on an element of supply side sindication. The dollar has reached it's 'real' potential means as a global currency due to artificial upper valuation bounds support. Perpetual consumption smoothing does not work!


sepheronx 30.03.2014 15:00

Randy 30.03.2014 05:05

With the ruble dropping as it is, the bank might be better off with BitCoin.


Ro uble is a free floating currency, thus it is prone to market worries. As the time goes on, it will fluctuate back. Rupee is the main currency in India and it is worth less. Yen also has a high devaluation. Rouble in this case, can increase big as long as what is sold from Russia to outside, is used when buying from outside to Russia. So in other words, Rouble can do very well ig otyer countries agreed to trade in it. Unfortunately, only NK so far agreed to it. May change later though.


Robert Mould 30.03.2014 01:37

They just sold off 43 tons of Ukrainian Physical Gold!
in return for IMF loan of paper!

To unelected government. What a scam. recall gold was going to 1390 and after Ukraine Gold sold off the now down 1290


Kristophr 29.03.2014 23:28

The US government now refuses to repatriate more than 5 tons per year to Germany of the over 400 tons they still owe, which is pretty much an admission that they are buying gold with paper to repatrate.


Kristophr 29.03.2014 23:26

Toni Lehto 29.03.2014 19:55

Sou rce please? The US still has the largest reserve of gold, not that it will help them out of their predicament, nor feed their angry masses.


The US government claims over 6000 tons are in there, but a public audit has not been done since the Eisenhower administration.

When the Federal Reserve was asked to repatriate the 540 tons they were holding for the German government during the cold war, they made nonsense claims about why they could not repatriate the gold, and gave them a few tons of bars that did not have any German government stamps on them.

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