In the last two days we have witnessed an incredible, rapid, steep, and perhaps unstoppable collapse in the value of the ruble. As of 9:15 AM Eastern today, the ruble is down more than 13%. By the time I publish this, that figure will be out of date. One look at today’s graph shows that […]
Staunton, July 21 – A century ago, Russians cheered the entrance of their country into World War I, but the country wasn’t prepared and as a result, it suffered military defeat, social and political revolutions, and a brutal civil war. Tragically, Maksim Kalashnikov says, the parallels between 1914 and now are all too obvious. The […]
One of Russia’s banks took a loan from Bank of Russia in order to stay afloat. However, that bank also owed creditors billions of rubles. An appeals court has pronounced that the bank rightfully transferred money to the Central Bank before its other creditors. This decision, however, means that now that the bank is bankrupt, […]
