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Tuesday, October 28, 2014

American voters are not getting news about Russian ruble free fall

Americans who listen to Brian Williams on NBC reporting on his Making a Difference Report and Fox News just making stuff up, should give the Moscow Times a try. Theirs is real news, reporting on the free fall of the Russian ruble. Listen up American voters! A Russian ruble is now hovering at less than $0.25 on the dollar.

Could this news just be too close to the truth for the American network anchors to deal with?  

I submit, President Putin can't pay his military to maintain an assault on the Ukraine, keep a stabilizing presence in the Crimea and prop up evil President Assad in Syria with a ruble that's rotting.

Perhaps President Obama's lead on imposing economic sanctions against Russia is taking a toll on that nation's economy.  Ya think?

Our American news media should tell viewers the truth. Obama deserves credit. Rather than bomb Russia to smithereens over its unlawful invasion of the Ukraine, takeover of the Crimea, support for the evil Assad regime in Syria and the horrendous attack on an innocent Malaysian airliner, blowing it out of the sky, killing everyone on board....instead, President Obama's cautious approach tightened economic sanctions against Russia.  Now, the ruble is worth slightly less or only 1 cent more than 2 bits $US.

The Moscow Times reports on the ruble's free fall:

"Modest gains for Russia's beleaguered currency were rapidly reversed Monday as the ruble dropped to new record lows amid speculation that the Central Bank might abandon its policy of spending foreign reserves to slow the currency's decline."

Russia Eyes Shrinking Cash Reserves as Fight for Ruble Escalates by Harold Amos

The ruble sank to record lows against both the euro and the dollar Tuesday amid growing concerns over the Central Bank's policy of drawing down its foreign reserves to defend the country's beleaguered currency.

The Russian currency fell to 40.9 against the dollar in early evening trading, its lowest level since a traumatic 1998 restructuring, and dropped to 51.7 against the euro, a second historic low in two consecutive days. (note- today ruble = $0.24 cents)

  • LONDON (MarketWatch) -- The ruble continued to slide on Tuesday, hitting another record ...

  • Consistently butting at the upper end of the regulator-set trading corridor, the ruble's trajectory has caused the Central Bank to sell over $6 billion on currency markets since Oct. 6. While interventions have slowed the ruble's tumble, they have also generated questions about monetary policy.

    In a bid to decelerate the ruble's devaluation, the Central Bank has burned through $54.9 billion worth of foreign currency since the start of the year, leaving its reserves at a four-year low.

    Dear Republicans, especially those who are in rapture by Fox News rhetoric, it's time to wake up and deal with the truth.  President Obama has led America out of a near depression; and now his lead on economic sanctions towards Russia appear to be working.
    Moreover, Democrats need to be running toward these achievements and taking credit for supporting them.

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