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Visa, Mastercard block Russian financial institutions after sanctions

reuters.com

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Re: Visa, Mastercard block Russian financial institutions after sanctions

#51

Post by vmception »

R0b0t1 wrote: post #35
vmception wrote: post #21

Earlier quoted context omitted.

Oligarchs are the OG dip buyers Bonus round 2 right before our eyes! assuming Putin doesn't nationalize stuff. Everyone else is literally helping you have diamond hands because you cant sell until the sanctions are lifted haha, which I mean, they will eventually. Undervalued, revenue producing assets aren't going to be ignored for long. BTFD. Just assume that you're going to the front lines soon unless you have enoug…

They didn't buy the dip, they stole it from the state and its people.

There is no way that a state that nationalizes everything and then has to sell it all in a yet-to-be-birthed private economy has the ability of doing it amicably and for the people. There is no market depth, there is no liquidity, and there will always be people close to the decision makers or an international market of people willing to exchange, racing against the domestic people.

The folly was the communism, the unbridled accumulation of revenue producing asset was just waiting for the communism to fall apart, I think it is shocking I also think I do not have sympathy for it.

Time to do it again. Cheap revenue producing assets.

Re: Visa, Mastercard block Russian financial institutions after sanctions

#53

Post by abofh »

dukeofdoom wrote: post #42
abofh wrote: post #30

Earlier quoted context omitted.

SWIFT is a Belgian corporation that is not tied to a specific currency. Kicking them out of SWIFT has nothing to do with USD hegimony. China and Russia do have a competing system, it's used by China and Russia. Moreover, Russias currency and market have been in a downfall for a month, not a week - that its actions _have_ long term consequences is exactly the point. Now, please remember, there's a whole planet out the…

Comparing Army sizes might the more relevant comparison going forward.

In a different context, for sure, but this was about SWIFT and finance. Even still, comparing army sizes isn't that useful either -- number of raw bodies only tells a fractional story; Where they're fighting makes a huge difference (home turf advantage), morale, motivation, equipment, training, non-human resources.

Numbers are useful when they're qualitatively comparable, but in this context, I'm not sure what number of troops should say you're allowed to bank wherever you want.

Re: Visa, Mastercard block Russian financial institutions after sanctions

#54

Post by pengaru »

hericium wrote: post #41
imwillofficial wrote: post #25

Earlier quoted context omitted.

I don’t get comments like these. Does Putin strike you as an overly emotional guy who gets frustrated easily? My take is that he is cold and calculating. Not one I’d take lightly.

> Does Putin strike you as an overly emotional guy who gets frustrated easily? He's a hardliner, I would not say that he could be frustrated easily but this absolutely is not an easy situation. His currency has collapsed and his country is on the brink of defaulting on foreign debt. He has no support anywhere but from his puppet dictator Lukashenko. I think Putin did not expect such coordination and global effort in…

> I believe that he wanted to take over Ukraine in just a few days and was surprised by Ukraine's defence and multiple desertions in his own army.

Everything I have read that isn't heavily biased anti-Russia propaganda says Russia has exercised enormous restraint so far in this invasion. There's no reason I see to believe Putin's been surprised by Ukraine's defenses, it's not as if all of Russia's forces at the border have been deployed and overwhelmed. Last I read not even half had mobilized. It's more like Putin pushed forward what he hoped was enough to compel a low-casualty outcome in his favor.

What happens next seems likely to be substantially more painful for the Ukrainians, but I hope I'm wrong.

Re: Visa, Mastercard block Russian financial institutions after sanctions

#55

Post by thinkingemote »

hadrien01 wrote: post #45
phantomathkg wrote: post #40

Earlier quoted context omitted.

What would be the alternative? Cash or Crypto?

Other networks. International ones like Visa or American Express, or national ones like Carte Bleue, Bancontact, etc.

Visa is blocking them too

Re: Visa, Mastercard block Russian financial institutions after sanctions

#57

Post by mike_d »

lnxg33k1 wrote: post #31
abofh wrote: post #30

Earlier quoted context omitted.

SWIFT is a Belgian corporation that is not tied to a specific currency. Kicking them out of SWIFT has nothing to do with USD hegimony. China and Russia do have a competing system, it's used by China and Russia. Moreover, Russias currency and market have been in a downfall for a month, not a week - that its actions _have_ long term consequences is exactly the point. Now, please remember, there's a whole planet out the…

I agree with almost everything but Russia GDP is a trillion less than the italian one

Measuring Russia by GDP is like measuring a bank robber by their tax return.

They have a shit ton of dark money that isn't calculated as part of GDP. Their economy is also in much better shape even with the smaller official calculations, having external debt equal to 38% of GDP compared to 102% for the US.

Re: Visa, Mastercard block Russian financial institutions after sanctions

#58

Post by _trampeltier »

rib3ye wrote: post #18
donw wrote: post #5

sigh Fifty years ago, the dollar had value because America was the one-stop-shop for everything. Cars, electronics, appliances, all of it. Nowadays, that's China. China makes everything, or the parts to make everything, and increasingly to a higher standard than can be produced in the US. Go watch Project Farm and think on those results. The dollar has value now because it functions as a medium of exchange. That's it…

I see this "Chinese production + Russian... (I guess just oil) = superior economic system" argument before, but I suspect these people have never opened a history book on Sino-Soviet relations. Because of decades of undermining and backstabbing, the trust between these two societies is pretty close to zero despite "communism". The only thing they really have in common is that they are both autocratic governments, so…

But there are so many people living there ..

https://en.m.wikipedia.org/wiki/Valeriepieris_circle

Re: Visa, Mastercard block Russian financial institutions after sanctions

#59

Post by _trampeltier »

lliamander wrote: post #37
klyrs wrote: post #32

Earlier quoted context omitted.

I thought he was cold and calculating until he attacked Ukraine. This looks downright ham-handed and heedless compared to the maneuvering of the decades leading up to now. He's made a damned fool of himself, if you ask me.

It looks stupid to me too. Which is precisely why I think there's information I'm missing. Like, I've seen arguments that the whole "Ukraine joining NATO" justification is just a pretext. But if that's just a pretext, what's the actual reason? I haven't seen a good answer yet. I honestly don't think we'll know the true story for decades.

I also I feel like I miss something there.

Maybe was tricked into war by .. I don't know .. and the war is just collateral demage.

Maybe his information had been so wrong because he and all people around him lives in a bubble.

Re: Visa, Mastercard block Russian financial institutions after sanctions

#60

Post by berdario »

lnxg33k1 wrote: post #31
abofh wrote: post #30

Earlier quoted context omitted.

SWIFT is a Belgian corporation that is not tied to a specific currency. Kicking them out of SWIFT has nothing to do with USD hegimony. China and Russia do have a competing system, it's used by China and Russia. Moreover, Russias currency and market have been in a downfall for a month, not a week - that its actions _have_ long term consequences is exactly the point. Now, please remember, there's a whole planet out the…

I agree with almost everything but Russia GDP is a trillion less than the italian one

That's fair in the context of businesses, but since we're also talking about a war context:

I've seen people point out that when discussing the conflict, it makes more sense to use PPP adjusted GDP. The rationale is that for a lot of stuff needed for state security, the production is done internally, and thus the currency exchange rates don't matter as much. (This is particularly true for Russia, since they build a lot of their weapons, compared with other european countries which buy weapons from the US)

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

Russia is ahead of all European countries, except Germany.

I hope there will be a cease fire soon, enough people suffered already...

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