Russian bank pulls out of Europe -- shares lose 95% of their value

[K Frame]

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.

[Brad Johnson]

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

[WLJ]

Putin may be having his Ceaușescu moment soon.
What worriers me the most about that is what is he willing to take with him

[Brad Johnson]

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

[WLJ]

Or who.

Brad

That was meant to be implied

[HankB]

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.

[Angel Eyes]

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

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 ...

[Brad Johnson]

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

[K Frame]

Could also well be a splinter group in FSB that's NOT on board with this whole mess.

[Ron]

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. 

[WLJ]

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.

[K Frame]

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

[Bogie]

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...

[RocketMan]

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.

[Fly320s]

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.

[RocketMan]

And because only true believers get to the inner circle.

That, too.

[charby]

And because only true believers get to the inner circle.

Sounds like the Trump administration

[Ron]

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.

[Ben]

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".

[WLJ]

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.

[HankB]

. . . 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.

[Ron]

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.