Article

2008-12-11 Caucasus/Russia/Central Asia

Russians Buy Jewelry, Hoard Dollars as Ruble Plunges

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Posted by Anonymoose 2008-12-11 13:44|| || Front Page|| [7 views ] Top

#1 I thought America was going to no longer be a world player and we were going to go down the toilet?
I guess that was only as long as oil was over 140 a bbl.

Posted by bigjim-ky 2008-12-11 16:35|| 2008-12-11 16:35|| Front Page Top

#2 Even though most of these hoarded dollars are probably made in NKor, it is fascinating that they don't hoard Yuros, or what have you.

Posted by Spike Uniter 2008-12-11 19:16|| 2008-12-11 19:16|| Front Page Top

#3 I thought the various features of the Euro would make them a prime target for counterfeiters.

Posted by Thing From Snowy Mountain 2008-12-11 20:53|| 2008-12-11 20:53|| Front Page Top

#4 Actually, those NKor dollars are pretty good. If the Fed keeps printing bonds, they may have to be tapped to pick up the dollar production when inflation hits, to include throwing in those already in circulation.

Posted by Procopius2k 2008-12-11 21:40|| 2008-12-11 21:40|| Front Page Top

#5 Surely, due to proximity, it would be easier for Russians to acquire Euros than dollars? Excluding North Korean forgeries, I mean.

Posted by trailing wife">trailing wife 2008-12-11 22:35|| 2008-12-11 22:35|| Front Page Top

#6 LOL TW! Sometimes you're very funny! ;-)

USD is ubiquitous. Most countries' foreign currency reserves are in USD. Back in Czech during commie rule, black markets operated predominantly on USD or DM to a lesser degree, rarely on UK£ or CAD. It was the same elsewhere in Eastern Block. Mighty buck rulez.

Posted by Spike Uniter 2008-12-11 22:54|| 2008-12-11 22:54|| Front Page Top

#7 Mostly unintentionally, I fear, Spike Uniter dear. I didn't realize our currency was collected so assiduously. Rantburg U rules!

Posted by trailing wife">trailing wife 2008-12-11 23:00|| 2008-12-11 23:00|| Front Page Top

#8 ION RUSSIA, WORLD MIL FORUM > RUSSIAN ARMED FORCES RADICALIST REFORMS MAY LEAD TO DISASTROUS CONSEQUENCES IN MILITARY READINESS/
PROFICIENCIES, NATIONAL ECONOMY.

Posted by JosephMendiola 2008-12-11 23:29|| 2008-12-11 23:29|| Front Page Top

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