Russia Defaults!

It’s Official!  With the Time Difference in Russia the Grace Period has Ended!

For the first time since 1918 (when it was the Russian Soviet Federative Socialist Republic – before the USSR was formed in 1922) the Russian Federation has officially Defaulted on its International Loans!

It had Defaulted on its Domestic Loans back in 1998, but after 104 years Putin’s Nazi Zs have shown the World that it truly is a Third World Developing Dictatorship that can not keep its International Commitments.

What is a Default? A National or Sovereign Default is the failure or refusal of a Government to repay its National Debt.

Effect On the Country: The immediate effect for the State is a reduction in its total Debt and a reduction in payments on the interest of that Debt. A Default damages the reputation of the State among Creditors, which can restrict the ability of the State to obtain credit from the Capital Market In some cases Foreign Lenders may attempt to undermine the Monetary Sovereignty of the Debtor State or even declare war

Effect on the Citizen: If the individual Citizen or Corporate Citizen is a Creditor of the state (e.g. Government Bonds), then a Default by the State can mean a Devaluation of their Monetary Wealth.

A Default can also cause:

A Banking Crisis, as Banks have to make write downs on credits given to the State.

An Economic Crisis, as the interior demand will fall and Investors withdraw their money

A Currency Crisis as Foreign Investors avoid this National Economy

Citizens of a Debtor State might feel the impact indirectly through high Unemployment and the decrease of State Services and Benefits.

Russia owes a total of $40 Billion US Dollars to International (ie non-Russian) Companies, Organizations and Governments.

I am extremely happy to see that Russia and Putin have Defaulted. Slowly, but surely Russia will be defeated in Ukraine and hopefully Putin’s Regime will also collapse the same way the Soviet Union did in 1991.

Think that’s cruel to say? Just remember the 27,900 Ukrainian Men, Women and Children murdered by the Russians in the past 4 months from bombs, missiles and bullets – including during the Bucha Massacre – while 73% of all Russians firmly support Putin and his Nazi Zs.