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Main Forums => Politics => Topic started by: K Frame on March 02, 2022, 09:27:55 AM

Title: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: K Frame on March 02, 2022, 09:27:55 AM
The Ukrainian invasion caused run on assets and European regulators ordered branches closed on fears that the bank would collapse.

https://www.cnbc.com/2022/03/02/russias-sberbank-collapses-95percent-on-london-exchange-as-it-exits-europe.html


Share price collapse is happening with other Russian companies that are traded on European exchanges, too. Rosnef has lost nearly half its share value.

Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: Brad Johnson on March 02, 2022, 10:03:41 AM
I figured they would see significant losses, but wow. Losing 99.9% of your value in 60 days is... bad.

Seeing as how Russian industries and global interests seems to be taking a similar beating, I wonder how much their industry and financial leadership is leaning on Putin to cool his jets, or if they even can.

Brad
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: WLJ on March 02, 2022, 10:09:55 AM
Putin may be having his Ceaușescu moment soon.
What worriers me the most about that is what is he willing to take with him
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: Brad Johnson on March 02, 2022, 10:19:18 AM
Putin may be having his Ceaușescu moment soon.
What worriers me the most about that is what is he willing to take with him

Or who.

Brad
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: WLJ on March 02, 2022, 10:21:26 AM
Or who.

Brad

That was meant to be implied
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: HankB on March 02, 2022, 10:23:32 AM
I don't know much about the internal workings of the Russian government, but how loyal is the FSB (which succeeded the KGB, NKVD, etc.) to Putin? They could probably prolong his rule at gunpoint for a while. And can Putin - alone - launch a nuclear strike?

I remember there was some internal unrest when the Soviet Union fell and Boris Yeltsin got in - if I recall, the Red Army didn't do as they were told and smash the Russian people to protect the old order. The old KGB thug running things now probably purged everyone he felt he couldn't personally rely on.
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: Angel Eyes on March 02, 2022, 02:23:15 PM
I don't know much about the internal workings of the Russian government, but how loyal is the FSB (which succeeded the KGB, NKVD, etc.) to Putin?

Semi-related:  https://www.foxnews.com/world/chechen-hit-squad-sent-murder-zelenskyy-eliminated

Quote
He said Ukrainian forces got intelligence about a planned attack on Zelenskyy and destroyed an elite Chechen unit.

"The special operation that was to be carried out directly by the Kadyrovites to eliminate our president is fully known to us today, and I can say that we received information from representatives of the FSB, who today have no desire to take part in this bloody war," he said.

There is a high probability that the Ukrainians are trying to mess with Putin's head, suggesting that the FSB is feeding them intel.  But i suppose it might be true ...

Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: Brad Johnson on March 02, 2022, 03:24:07 PM
There is a high probability that the Ukrainians are trying to mess with Putin's head, suggesting that the FSB is feeding them intel.  But i suppose it might be true ...

My money is on both. Psyop is part and parcel with warfare. Insofar as FSB leaks, high-ranking officials are likely also deeply involved in global trade because, money. They're seeing a couple decades of spectacular capitalistic benefits being flushed down the туалет and are panicking. They want this over ASAP so they can get back to lavish dinners, expensive hookers, and trips to the Riviera.

Brad
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: K Frame on March 03, 2022, 07:21:08 AM
Could also well be a splinter group in FSB that's NOT on board with this whole mess.
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: Ron on March 03, 2022, 08:57:43 AM
Russia and China have been increasingly using other forms of payment versus the US dollar.

I read that isolating Russia financially will accelerate that process potentially weakening the dollars position as the reserve currency of the world.

Just throwing this out there, I'm not really very knowledgeable on world economics. 
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: WLJ on March 03, 2022, 09:01:09 AM
Russia and China have been increasingly using other forms of payment versus the US dollar.

I read that isolating Russia financially will accelerate that process potentially weakening the dollars position as the reserve currency of the world.

Just throwing this out there, I'm not really very knowledgeable on world economics.

In the larger scheme of things Russia isn't that big of an economy. GDP is smaller than S.Korea and I would imagine falling at this point.
Europe, and the US to some extent (sigh), allowing themselves despite repeated warnings to become depended on Russian oil and gas allows Russia to have more influence than they should.
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: K Frame on March 03, 2022, 10:43:20 AM
London's FTSE has suspended trading on nearly 30 Russian companies because their share prices have completely collapsed.

https://www.cnbc.com/2022/03/03/london-listed-russian-stocks-are-collapsing-with-trading-now-suspended.html
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: Bogie on March 03, 2022, 06:52:15 PM
If you were the guy carrying Russia's version of "the football," and Putin asked for it with the intent of launching a preemptive strike, and...  you have a family and a 9mm in your holster...
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: RocketMan on March 03, 2022, 08:50:26 PM
If you were the guy carrying Russia's version of "the football," and Putin asked for it with the intent of launching a preemptive strike, and...  you have a family and a 9mm in your holster...

You'd hand him the football because Putin and his supporters in the room are the more immediate threat to you and your family.
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: Fly320s on March 04, 2022, 08:43:12 PM
You'd hand him the football because Putin and his supporters in the room are the more immediate threat to you and your family.

And because only true believers get to the inner circle.
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: RocketMan on March 04, 2022, 09:03:28 PM
And because only true believers get to the inner circle.

That, too.
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: charby on March 05, 2022, 01:23:18 AM
And because only true believers get to the inner circle.

Sounds like the Trump administration
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: Ron on March 05, 2022, 09:00:24 AM
Sounds like the Trump administration
I don't know about that, we can make a pretty long list of inner circle Trump folks who turned on him or failed to implement his policies.

That was one of the biggest complaints about him, he chose folks who weren't on board with MAGA.
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: Ben on March 05, 2022, 09:16:08 AM
I don't know about that, we can make a pretty long list of inner circle Trump folks who turned on him or failed to implement his policies.

That was one of the biggest complaints about him, he chose folks who weren't on board with MAGA.

Yup, that was one crappy set of "true believers".
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: WLJ on March 05, 2022, 09:18:40 AM
I don't know about that, we can make a pretty long list of inner circle Trump folks who turned on him or failed to implement his policies.

That was one of the biggest complaints about him, he chose folks who weren't on board with MAGA.

They were/are on board with Make Pockets Great Again while Putin follows the Hillary model to deal with that.
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: HankB on March 05, 2022, 09:33:37 AM
. . . Europe, and the US to some extent (sigh), allowing themselves despite repeated warnings to become depended on Russian oil and gas allows Russia to have more influence than they should.
With a great many politicians, bribes outweigh warnings.
Title: Re: Russian bank pulls out of Europe -- shares lose 95% of their value
Post by: Ron on March 05, 2022, 09:49:32 AM
They were/are on board with Make Pockets Great Again while Putin follows the Hillary model to deal with that.
Everything is a grift and they are all grifters. Pretty depressing.