Posted on 02/27/2022 2:58:00 PM PST by marcusmaximus
People in Moscow and other Russian cities stormed ATMs and bank branches in search of cash, both in roubles and dollars, as they feared a collapse of the national currency and inability to use international payment systems.
Queues of people seeking to withdraw foreign currencies started to form as early as Thursday morning, after the decision by Russia’s president Vladimir Putin to start a full-scale invasion of Ukraine, sending the rouble to its historic lows. A Financial Times reporter could witness that some branches of international banks ran out of US dollars by midday that day.
-snip-
“I withdrew money at the beginning of all this, and I am going to go search for an ATM again now. Because I want to have a month worth of cash in case there are technical glitches with cards. I already had problems paying for a taxi with Google pay yesterday,” said Ekaterina, a Moscow resident.
“I believe my bank is not under sanctions, and I doubt my money will disappear altogether, but there is a risk I won’t be able to buy food,” she said. “We simply do not know what to expect of the government. I can’t forecast, so I want cash to be around.”
(Excerpt) Read more at ft.com ...
Will be interesting to watch which Crypto Whale accounts start moving funds. Should quickly identify a lot of state actor accounts.
I heard they’re having an Big Oil Sale will Joe take advantage
First, I like the name Nastassia Astrasheuskaya.
Second, Putin’s actions damaged Russia’s revenue streams severely.
Might hurt the average man in the street, but there are still plenty of ways to convert oil and gas to cash on the black market. Iran has skirted such sanctions for years.
Are you sure about that? I thought energy prices jumped when the invasion happened. I don't know of anybody who is boycotting their energy exports.
“I heard they’re having an Big Oil Sale will Joe take advantage”
Joe already took advantage of it. Biden excluded oil and gas from the sanctions and the US is buying 770,000 barrels of oil from Russia every day. We’re helping Putin fund his military.
Xi will help him out for concessions in Siberia.
Bringing up Iran....for over 20 years, there’s been small and big Iranian businessmen who get their monthly profits, then take the Rial to be converted to gold, silver, Euro or Dollars...then move the cash out of Iran (typically to Dubai). They all sit and wait for the big crash to occur.
Of course the people who must live paycheck to paycheck are S.O.L. here. I know, I was one of them for most of my life.
Pooty looks old, depressed, puffy faced and wasted in recent videos. He might have had a bad case of Covid. His generals should depose this buffoon.
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