JimofPennsylvan
Platinum Member
- Jun 6, 2007
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The Vladimir Putin of today is not the Vladimir Putin of ten to twenty years ago he has become more erratic this writer has previously outlined the case for this conclusion; and today provides another example of this behavior where Russian President's Putin announced Russia will require payment only in rubles for Russian natural gas from unfriendly countries. Such untrustworthiness in judgment is an alarming consideration for a leader that has used chemical weapons in a prior war and in his current war he is stuck, his ground forces do not have the wherewithal to change the tide of the war in Russia's favor. What now will the world be subject to at the hands of this dictator that regularly takes his conscience and puts it off to the side!
This move by President Putin is clearly a bad decision. Not allowing countries in the Free World to pay for Russian natural gas with euros or dollars is very foolish. Putin needs these currencies to pay the outstanding interest and principal payments on his outstanding sovereign debt that is continually coming due. If Russia defaults on its sovereign debt not only will this result in Russia having to pay higher interest rates for generations to come but it will for this same period weaken the confidence of investors and businesses for investing in Russia that it is a good place to do business. Plus as it stands now entities in the Free World are at their limit in stomaching buying natural gas fro Russia requiring them to buy rubles the currency of a despicable country that is murdering and acting like beasts and monsters in the country of Ukraine with their unprovoked war in order for these entities to pay for natural gas from Russia for many entities will be the straw that broke the camel's back; if need be they will turn to coal and oil for power generation rather than buy filthy rubles to buy Russian gas! Further, Russia will need euros and dollars to pay for imported medicines and other imports the Russian population will demand. The counter arguments for requiring ruble payment don't trump these crucial economic concerns!
This move by President Putin is clearly a bad decision. Not allowing countries in the Free World to pay for Russian natural gas with euros or dollars is very foolish. Putin needs these currencies to pay the outstanding interest and principal payments on his outstanding sovereign debt that is continually coming due. If Russia defaults on its sovereign debt not only will this result in Russia having to pay higher interest rates for generations to come but it will for this same period weaken the confidence of investors and businesses for investing in Russia that it is a good place to do business. Plus as it stands now entities in the Free World are at their limit in stomaching buying natural gas fro Russia requiring them to buy rubles the currency of a despicable country that is murdering and acting like beasts and monsters in the country of Ukraine with their unprovoked war in order for these entities to pay for natural gas from Russia for many entities will be the straw that broke the camel's back; if need be they will turn to coal and oil for power generation rather than buy filthy rubles to buy Russian gas! Further, Russia will need euros and dollars to pay for imported medicines and other imports the Russian population will demand. The counter arguments for requiring ruble payment don't trump these crucial economic concerns!
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