The clock is ticking as Russyan bond debt payments come due in about 8 days. Russyan central bank wants to pay with Kremlin toilet paper, aka the ruble. This pathetic currency has few buyers and holders of Kremlin debt don't want this crap to foul up their banks. So, Treasury Secretary, Janet Yellen, says that the policy is in motion that will cause Russya to default on its debt for the first time since 1918. That was after the Bolshevik disturbance in Moskva when Commies took over from the royals. This will pose long term problems for the Kremlin, and those, too, who succeed 5'4" Napolean-wannabe. Now he doesn't care one bit. It's all about the'now', the future be damned. Again, it appears the dictator doesn't listen to any of his advisors(sound like somebody we know: the Orange -haired baboon?).
Putin thinks because he has the EU under his energy thumb, he can dictate all policy and all outcomes to that policy. He, like most dictators have to be taught a lesson. Professor Tim Snyder, the history guru at Yale, says that fascists never learn. They try and try and try some more, but in the end, fail miserably. They win, initially, by heaping violence on those called"fascists" by a government. But really, all they do is create an enemy with this descriptive to motivate the captive audience in their country so they accept the violence against the "fascists". Hence, Mad Vlad calls the Ukrainians Nazis or fascists. But Mr. Putin is the "FASCIST"!
Are you a holder of Kremlin paper debt? Get ready to go to court, as did those paper holders of yore who owned Argentinian debt 21 years ago. Long time in court, but eventually, Argentina paid. Who wants to wait 15-20 years for Russya to pay its debts? Nobody.
Have a nice day.
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