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Cabal banks gang up to suspend forex trading of Russian Ruble

December 17, 2014

Time for BRICS to roll out its network and financial instruments fast and furious, and flush the dollar down the toilet – where it belongs!

Noted:
* Ruble rate does not reflect macroeconomic situation, govt to take measures – minister 
* Russia Central Bank raises interest rates to 17%
* Paying down the [US] debt is now almost mathematically impossible
* Can the US ever pay off its debt? [Video]
* Total Chaos: Massive Market Moves Spark Selling-Panic Into Close
[The cabal is desperate to create panic … before its dollar dies! Keep calm.]
* West behind falling ruble, oil prices – Russian spy chief

* Surprise! Guess which currency has stronger fundamentals the dollar or … ruble?
* Yes, it’s possible for a gold-backed renminbi to dethrone the dollar 

As reported here

The Russian Ruble Is Hereby Halted Until Further Notice

Earlier, we reported that various currency brokers such as FXCM and FxPro, would – as a result of the soaring liquidity in the USDRUB pair – suspend trading in the Russian Ruble (while other merely hiked margins to ridiculous levels). It appears things have escalated again, and as FXCM just reported, instead of just politely advising clients not to open new USDRUB position tomorrow, it has advised anyone long, or short, the USDRUB that their positions will be forcibly shut in moments.

FXCM_0

So for those curious why there appears to be a collapse in Ruble volatility in the past few hours which in turn has sent both stocks and crude soaring, the answer is simple: nobody is trading it!

And this is what happened following the post: as soon as all those short the RUB (long USDRUB) realized they have to take profits, the USDRUB tumbled some 500 pips (!) in the process sending stocks surging.

usrub halted_0

h/t @Paul_Courtney

From → World Watch

One Comment
  1. nice sharing for newbie like me , really enjoy your post

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