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Ah, ya gotta love the end of a worldwide Housing Ponzi Scheme.
Belarus ruble sinks 20 percent, shocking citizens
National Bank in Belarus devalues currency 20 percent to get IMF loan; citizens shocked
MINSK, Belarus (AP) -- Belarus' central bank sharply devalued the Belarusian ruble Friday, allowing the currency to plunge 20 percent to help stop the hemorrhaging of its reserves. The move came as an unwelcome shock to ordinary citizens.
The National Bank said the devaluation was aimed at raising the competitiveness of the Belarusian economy, which has been battered by the global financial crisis. It also was a condition of a $2.5 billion loan from the IMF announced Wednesday.
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12 comments:
Monetary devaluation. Coming soon to a Superpower™ near you.
I say, RUSSIA is next.
With oil at 30-45, the Russian Rubble is toast.
Dny
RussiaPANIC
Comrades, there has never been a better time than NOW to forcibly seize property at gunpoint in Belarus!
Of course, I am speaking to the mafiya men in dark suits, the weapons smugglers with twitchy eyes behind mirrored aviator shades, the white slavers who trick pretty blonde farm girls into bondage in the brothels of Bremen! You are the ones with hard-looking bodyguards, hardened limousines and most important, hard currency! You are the men that President-for-Life Lyukashenka calls his base!
Any of you working peasants without a kapyecka to your name, STOP READING THIS NOW! Eyes down! That's right, walk away slowly if you know what's good for you!
The collapse of our beloved рубель ruble, which we have loved since the collapse of the old beloved ruble in 2000, means a marvelous investment opportunity for you! The peasants whose property has still not been nationalized for the good of the homeland will be motivated sellers if they want to keep eating imported food paid for with foreign currency!
And since most of our glorious nation's cropland is radioactive from Chernobyl dust -- goddamn you stupid Russians! -- the peasants HAVE to eat imports if they want to live past age 47! Although if I was one of those peasants who was too lazy to flee to Poland to find work as a janitor, I wouldn't want to live any longer than that, ha ha!
Anyway, these peasants -- WHO BETTER NOT BE READING THIS IF THEY DON'T WANT TO BE STUFFED INTO A PACKING CRATE AND DUMPED INTO THE RIVER DNIEPER! -- will be more than willing to make a deal. All you have to do is point an AK-74 between their eyes and get them to sign on the dotted line. Our Father of Belarussian Independence, Alyxsandr Lyukashenka, guarantees freedom from prosecution to those doing business in hard currency or gold bullion!*
But the time to act is now, tovarisch! There could be an assassination, a coup or a reabsorption into Mother Russia! If you have rubles (the Russian kind, not the local pieces of shit), euros, Swiss francs or precious metals, we want to hear from you! U.S. dollars will be treated as hard currency for the first 100 days after 20/1/09, after which all dollar-denominated transactions must be made with an equivalent value in stolen American anti-aircraft missiles!
* Freedom from prosecution guarantee is contingent on said property transactions being registered with the State Deeds Office. State Deeds Office may charge a fee, payable in hard currency, which will be based on what agents of President Lyukashenka think you're worth.**
** And don't forget that since the Department of Free and Independent Belarussian Security controls the banks, monitors international phone connections and owns the two Internet cables into Minsk, we know what you're worth. We also know where your mother lives. And we have lots of packing crates. Gosh, that Dnieper sure is cooooold this time of year...
While in Kaliningrad this past summer, I was warned not to buy fruits & vegetables from the grocery store, but to instead purchase these from the babushkas who sold them on the streets.
The reason was that the produce being sold by the babushkas was likely grown locally either by them or by a relative, whereas the grocery stores were known to sell produce trucked in from the contaminated area of Belarus.
No matter how much we in the US have to complain about, the ordinary folks in both Russia and Belarus have it worse.
-Mammoth
Talking about serfdom, just look these stats from BusinessWeek "Most and Least/Favorite Cities". The serfs don't mind working their arses off and paying taxes to the teeth, just to be fleeced by their masters: The Crooks on Wall Street/Fed.
Why would a sheeple, who earns $48k choose to live in NYC that has median home prices of $600k, is beyond me. Probably to leak boots of celeb's and Wall Street crooks.
It seems that the deliberate plan of dumbing America down is stronger than never because the serfs keep supporting their masters. Here's an example:
Best Cities to Work and Live: New York
Rank: 1
Workers who would like to move there: 11%
Median household income: $48,631
Median home value: $584,761
Annual home price change: -2.18%
The best part is that New York has come up with a list of 88 new taxes to fleece the serfs. Everything from special taxes on soft drinks to iPods. Not only that, the gov has also a plan to lease New York's infrastructure to the same crooks. So the crooks created the crisis, you bail them out with your taxes, then the New York gov leases its resources back to the crooks, so they can collect more taxes from the serfs. Wow! How long are you all going to take in the arse?
This country is out of control!
> I say, RUSSIA is next.
> With oil at 30-45, the Russian Rubble is toast.
Well, it already is. It may be devalued much further but watch for an eventual overshoot. The Central Bank intends to guard its reserves this time, and that puts it into the position to smash the panicked foreign-currency buyers at its will.
Britain will fail in spectacular fashion. Their housing and financial bubble is worse than the one in the US ever was. On top of that are declining oil revenues and oil output from the North Sea oil fields. They will fail Iceland style or worse. While Russia, Ireland, Spain and assorted Banana Republics will also fail, Britain is the big Kahuna in terms of absolute size, importance to the markets and psychologically. Another wild card is Switzerland. A country with no real economy, only Voodoo finance. That model might not prove viable going forward.
Best Cities to Work and Live: New York
Rank: 1
Workers who would like to move there: 11%
Median household income: $48,631
Median home value: $584,761
Annual home price change: -2.18%
There is NO hope for anyone who would believe such as the above statement. There are war zones worldwide that look more appealing than some parts of New York City. Plus the warzones (active) are much safer than parts of New York City. Offer me a $200,000 a year job---(kicker is that I gotta move to NYC) NO THANKS! I rather eat berries out here in the wide open sticks than ruin my life in such a place.
US dollar will be worth 59 Yen when all is said and done, and by then, no one's money will be worth dog kibble.
grandma PKK
wow....i was in minsk several times up to last year. what a communist craphole. but i didnt think that the housing crisis would reach that far.
Friend of mine that travels every year to MSQ (that's Minsk "International" Airport) and whose mom lives in Minsk, tells me that the bastards at customs in the airport charge you by the weight of your bags when ARRIVING there. If the bag is over the allowed weight, they hit you up for some huge fine. Only problem is, they don't tell you this ahead of time, so you're in for an unpleasant surprise when you arrive. :))
It's not as bad in Boryspil' Airport in Kyiv, Ukraine, where they X-ray every bag you're carrying with you when you ARRIVE, including your checked bags. Old habits die hard, I guess.
I got a huge laugh from "Belarus Realtwhore". Nice job skewering Lukashenko, about time he is exposed for the scumbag he is. By the way, family that lives only a few miles from the Belarus border in Ukraine, tells me that they are seeing huge influx of people coming into Ukraine to shop, buy food, etc. Guess it already started to hit a while ago, and even with the Ukraine Hryvnia dropping in value like a rock, it's still holding up better than the "Rabbits" of Belarus. :)))
Lukashenko is toasted snapper now too, skewered head to ass, juices popping over a bed of white hot charcoal. Hee...Haw...Arrr..Let's see how long he lasts now :)))
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