# Mr Putin`s expected speech...............



## readytogo (Apr 6, 2013)

The world is on stand by with the expected speech tomorrow,Russia`s economy is in trouble many are talking of war or further problems in the lower states.
http://www.theguardian.com/world/20...-volatile-russia-awaits-vladimir-putin-speech

http://news.yahoo.com/russian-ruble-way-down-071159336.html


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## Woody (Nov 11, 2008)

Down against what? The USD? Huh, wonder how that happened? It couldn't be that all reserve banks linked to the USD have refused them loans or currency exchanges, could it? Nawww, the US economy is BOOMING and the dollar is stronger than ever now! Russia dumping all its foreign reserves means it is using that to prop up its economy? It could never mean that they are dumping worthless fiat as they are setting up their own currency trade outside the USD, could it? Nah... that is ridiculous. Killing the wholesale price of oil is only going to hurt Russia! We, here in the U. S., produce more than we consume, WE are energy independent now!!! Our Government has been giving taxpayer dollars for years to help that happen so when something like this happens, we are unaffected!!! and so on...

The article:

The rouble stopped its downward spiral on Wednesday but remained volatile during the day, as Russia waited for Vladimir Putin to pronounce on the country’s currency crisis.

The Russian president said earlier in the month that a falling rouble was good for the country as it would stimulate domestic production, but he has not spoken on the matter publicly since the currency’s collapse at the beginning of this week.

Putin will give his annual press conference on Thursday, a ritualised marathon in which he speaks for hours on all areas of policy.

The rouble has lost around half its value against the dollar since the start of the year and the economic stability that has been the cornerstone of Putin’s promises to the Russian people appears seriously under threat.

Analysts say falling oil prices have combined with structural problems and the effect of western sanctions to create a “perfect storm” that has battered the rouble. A hike in interest rates from 10.5% to 17% late on Monday failed to halt the slide, and the central bank has been burning through its foreign currency reserves in at attempt to stem the fall.

On Wednesday, the rouble rose to 63 against the dollar, fell back down to 72 and then rose again to 60. It hit a low of 80 to the dollar on Tuesday, down from 34 at the start of the year.

Much of the rally on Wednesday appeared to be the result of government intervention, making it unclear whether the rouble would stabilise properly or had just reached a temporary plateau.

The central bank has spent more than $80bn in foreign reserves this year propping up the currency.

Some analysts suggested that capital controls would have to be introduced, but the Russian prime minister, Dmitry Medvedev, told a meeting of the cabinet convened to discuss the situation that normal market mechanisms should be used instead.

“Everyone recognises that the rouble is undervalued. It has become detached from fundamentals and does not reflect the state of the economy,” he said.

As the currency plummeted on Monday and Tuesday, however, the sanguine feeling that the economy was in for a difficult period but that there would be no major collapse began to disintegrate.

“There is a greater degree of panic and loss of control than we thought we were facing,” said Sam Greene, the director of King’s Russia Institute in London.

“I don’t think there’s any reason to believe that we’re done yet. I don’t see anyone who has offered a good way out of this. We are looking at significant recession next year, significant drop-offs in earnings. We are really in uncharted territory.”

Shops in Moscow are putting up prices rapidly to keep up with the plummeting rouble, and Apple closed its online shop in Russia.

There has been a flurry of retail activity as Russians scramble to buy goods imported before the currency crash and still priced at the old rate. Others cancelled foreign holidays, realising how little their roubles were now worth abroad, while those with euro or dollar mortgages and loans are particularly exposed.

“In the last couple of days several people have come up to me and asked if I could find them jobs abroad,” said one western banker in Moscow. “And I’m talking about people who even a month ago were very patriotic and supportive of everything going on here.”

Kremlin watchers will be looking closely to see if Putin takes adopts a more conciliatory tone or comes out fighting on Thursday. In his state of the nation address earlier in the month, he was combative, blaming the west for trying to destroy Russia and justifying the annexation of Crimea as the return of “sacred Russian land”.

Putin’s spokesman, Dmitry Peskov, said the president would not comment on the rouble before his press conference. Earlier this month, he blamed the fall on speculators, whom he said would be identified and punished.

The tough rhetoric, however, has not helped stem the fall, and there has been an unusually public spat between various branches of the government over whose decisions are to blame.

Putin’s annual press conferences involve more than 1,000 journalists and often lasts more than four hours. They feature many softball and planted questions and do not offer the opportunity for follow-up, allowing him to wax lyrical about everything from domestic issues to foreign policy and his life philosophy.

This year, however, the tone is likely to be different, as Putin seeks to prove that he retains control of the economic situation.

“The atmosphere in society has changed, intangibly but irrevocably,” wrote the columnist Mikhail Rostovsky in the newspaper Moskovsky Komsomolets on Wednesday.

“The sense of stability has again left our lives, as has the sense that Putin is a kind of magician who controls everything: Crimea, tigers, the rouble. Psychologically, Russia has made a small step back towards the 1990s.”


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## cowboyhermit (Nov 10, 2012)

Russia could potentially be in for a minor shtf type situation with the course they are on. Ordinary people there are in a truly frightening situation. NO, the ruble is NOT just down against the USD, it is down in relation to pretty much everything except oil. For an average citizen looking for a way to preserve their wealth there it is not easy, just look at the price of gold in rubles;

http://www.goldpriceoz.com/gold-price-russia/









That IS what hyperinflation looks like when it begins, of course it is also what avoided hyperinflation looks like too.

Probably the scariest part though is the lengths Putin has been willing to go to prop up the currency, putting aside money and reserves, etc. Bumping up the interest rates the way they have is not a good sign for average people. *17%* 

The most interesting thing about these types of situations is how people tend to interpret them through the same lens. In true Orwellian fashion many so called alternative "news" sites are already saying that this is all a result of sanctions by the west and we are just being mean to poor old Putin.

These same sites have been blathering on and on for ages about how those sanctions were only going to hurt the countries that imposed them (Putin said it as well) :hmmm: some people just lost a lot of credibility. Thanks to the web many of those opinions are still out there, typically from the same people who were patting Russia on the back for their interference and brinkmanship that we could only envy

Now would be a good time to look at who is talking out of both sides of their mouth and putting their past B.S through a filter of revisionist history, put an asterisk next to their name or sites.


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## cowboyhermit (Nov 10, 2012)

Well, citizens there managed to avoid severe foreign exchange restrictions, at least for now, but where does that leave them?

If your money was halved do you just hope that some day it will come back or do you pay ridiculous prices for P.Ms or foreign currencies? 

Scary situation.


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## hiwall (Jun 15, 2012)

The oil price reduction and the Russian situation are both way more complicated than my tiny mind can fully grasp.


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## readytogo (Apr 6, 2013)

*Mr. Putin`s fail economy...............*

Mr. Putin`s fail economy is twofold, a strong military and a weak consumer front, the regular people suffer while the upper corrupt like him have all the benefits of a totalitarian government, cutbacks or like the options the Cuban people have, rationings on everything, will take immediate effect while prices go up and in order to survived the people have been storing for years now the basic essentials the blame for this has been passed on to the west and USA primarily.Until yesterday, Russia was believed to be isolated and under immense economic pressures from both the U.S. and Europe over what has been labeled 'aggressions against Ukraine'. However, the underlying truth is that Ukraine has little or nothing to do with the war on the Rouble and on the Russian economy, and the U.S. is simply using the Eurasian country as a scapegoat for Putin's chess moves against the petro-dollar and America's hegemony over the global reserve currency. And now our other mortal enemy has offer help, the Chinese and basically all we have to do is stop buying Chinese junk to bring them down also, oh well will never learn I guess.


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## Woody (Nov 11, 2008)

readytogo said:


> *Mr. Putin`s fail economy is twofold, a strong military and a weak consumer front*, the regular people suffer while the upper corrupt like him have all the benefits of a totalitarian government, cutbacks or like the options the Cuban people have, rationings on everything, will take immediate effect while prices go up and in order to survived the people have been storing for years now the basic essentials the blame for this has been passed on to the west and USA primarily.Until yesterday, Russia was believed to be isolated and under immense economic pressures from both the U.S. and Europe over what has been labeled 'aggressions against Ukraine'. However, the underlying truth is that Ukraine has little or nothing to do with the war on the Rouble and on the Russian economy, and the U.S. is simply using the Eurasian country as a scapegoat for Putin's chess moves against the petro-dollar and America's hegemony over the global reserve currency. *And now our other mortal enemy has offer help, the Chinese and basically all we have to do is stop buying Chinese junk to bring them down also*, oh well will never learn I guess.


Huh, sounds like another country; strong military, strong Government sector, consumer based society that produces no actual products.... Can't think of what it is at the moment though...

Yup, them evil Chinese bastages!!! We need to stop buying anything made in China, India, Thailand... and all the other evil countries that our manufacturing sector has shut down their factories here and moved there. Every American would be able to have all the GM corn, GM soybeans, and F-15's they wanted!! Well... Except for the parts that are MANUFACTURED IN CHINA and shipped here for us to put together. The U. S. sold out to "our other mortal enemy" long ago. Sorry.


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## Meerkat (May 31, 2011)

We are all ruled by tyrants now. No safe palce on earth. At least most of the russians are united unlike this nation and many others.


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