MindzEye
Wayward Ditch Pig
Being penetrated in a crack house?
OT: World Politics
- Thread starter zeke
- Start date
Being penetrated in a crack house?
worm
Well-known member
Crack home
MindzEye
Wayward Ditch Pig
View: https://bsky.app/profile/prune602.bsky.social/post/3lkejodrnu22d
Fantastic thread
The Russian budget projected a 32B deficit in 2025 with 38B in liquid (Yuan and gold) reserves left to pay for it. They had what was basically a small doomsday fund of rubles on deposit with Russian banks that they've started to use and have already drawn down by half in 2 months. The core problem they're having is that in their....already apocalyptic....budget, they projected an average oil price of 69-70 USD, but their Urals product has been trading at 54 a barrel, creating a massive revenue shortage.
It also turns out that their state owned banks were basically the only ones buying their bonds so now of Sberbank's total holdings, russian bonds account for 70%. VTB is in similar shape. So it's like a russian nesting doll of circular financial bullshit. Sberbank and VTB are two of the biggest non liquid holdings listed as part of the 135B national welfare fund, but over half of their assets are russian bonds. So Russia is going cash broke by the end of this year, when that happens they will default on bond interest payments, which vaporizes the two state owned banks, which then vaporizes the national welfare fund, which essentially bankrupts the Russian government.
All of this might be made a lot a lot worse because their boy is about to set off an international recession with his tariff bullshit, which will likely cause the price of oil to fall further, potentially beyond the ability (and willingness) of OPEC to reign it in.
The Ukies can win this on attrition as long as Europe is willing to pay the bills.
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