The USA financial crysis

It doesn't sound like that from the other post I was reading. But a lot of it was posted in russian.

Can you translate it and say what that was about? The Moscow Stock Exchange was shut?

Here in Canada it's not too bad (yet), and there is another election and everyone has good ideas to not get into trouble.

Yes, moscow eschange shuts down pretty often recently. They close it when they see some main indexes fall down too fast. But it does not affect us yet. Fortunately. NO bank bankrupcy like snesbits said happens in UK, and in USA...

I don't know if it's because of the crysis in America but some German banks are about to crash or something.
Haven't followed the news for like 2 weeks now

Fun thing: buy loads of games! The $ is worth nothing atm

The bad thing is that i can't sell these games in same amount in rubles

In Sweden the stock market is as bad as the rest of the world right now. The Swedish banks are stable though, mainly because we had a similar crisis in the early 90s where the government got in and bought crashed banks. But yeah, if the world economy continues to crash, eventually Sweden will go the same way as everybody else.

I have no real solution, if i had i would probably be hired by the US government. But yeah, its mainly because the interest was lowered by Greenspan after the IT crash.

russia's gold and hard currency reserves are at around 550 billion USD. third biggest in the world, only china and japan have more. still, it isnt enough to stabilize anything, if the shit really hits the global fan.

the whole russian economy is based mainly on the export of oil and gas. the demand will probably go down soon, because the global industrial production will decrease (hello, recession!), since the loan market is pretty dry now - the banks either dont have the money or are too scared to give it away. and if the credit defaul swap market falls to pieces, the Great Depression will seem like a pleasure cruise

> Ostro wrote:
> Fun thing: buy loads of games! The $ is worth nothing atm

Well actually the currency between € and $ has been going up for the dollar. A few weeks ago 1$ = 0,64 and now it's 0,73.

In here Finland there has not been any major problems, yet. But of course it will affect world wide if anything bad happens. In early 90's we survived from the economic collapse. I was very young at the the time so I can't remember many things from it but it wasn't that bad.

I have stayed away from buying games from countries which want US dollars because the currency of euro isn't that high at the moment. Still in here Finland and of course from Tradera I have bought several games.

> jim.jupiter wrote:russia's gold and hard currency reserves are at around 550 billion USD. third biggest in the world, only china and japan have more. still, it isnt enough to stabilize anything, if the shit really hits the global fan.
>
> the whole russian economy is based mainly on the export of oil and gas. the demand will probably go down soon, because the global industrial production will decrease (hello, recession!), since the loan market is pretty dry now - the banks either dont have the money or are too scared to give it away. and if the credit defaul swap market falls to pieces, the Great Depression will seem like a pleasure cruise
Russian market is not that dependent on dollar now.. All transactions inside the country are in rubles, all prices are in rubles. So it's all different now. We can survive without dollars at all.

Problem with the US and UK economies is that the banks are all lend, lend, lend, yet they are lending more money out than actually exists - There's only a problem now because a great percentage of people live in credit. Most people will have their mortgage, but aside from that many will have their car/s on finance, home theatre set-up's on finance, home improvements (Ie, Kitchen or Bathroom) on credit, and others have other aspects of their home, such as furniture, on hire purchase. Most people I know are well into their over-draft limits or tend to buy things like clothes on their credit cards.

I hope sweden banks are ok because that is where I have put my money because of the higher interest offered compared to uk banks

> Gemini-Phoenix wrote:Problem with the US and UK economies is that the banks are all lend, lend, lend, yet they are lending more money out than actually exists - There's only a problem now because a great percentage of people live in credit. Most people will have their mortgage, but aside from that many will have their car/s on finance, home theatre set-up's on finance, home improvements (Ie, Kitchen or Bathroom) on credit, and others have other aspects of their home, such as furniture, on hire purchase. Most people I know are well into their over-draft limits or tend to buy things like clothes on their credit cards.
Well. In Russia there's same tendency. And that really fears me. We have a credit BOOM here. Everyone for credit. 0%. CHEAP!. and so on.

> snesbits wrote:I hope sweden banks are ok because that is where I have put my money because of the higher interest offered compared to uk banks

In what bank? You should get Nordera, its owned by the government since the 90s. So its the safest. Swedbank have been on the news lately after rumors concerning the banks health.

> Dark Sol wrote:Russian market is not that dependent on dollar now.. All transactions inside the country are in rubles, all prices are in rubles. So it's all different now. We can survive without dollars at all.

interesting. and what currency do you think the oil/gas export contracts are paid in? the internal market is a major loss factor for almost any branch of the russian economy, cause the companies can't charge western prices there, but are forced by the government to offer their products at a lower price acceptable for the russian consumers

And what's so hard to sell oil/gas in other currency? Change the contract and sell in whatever currency you want. And other countries will follow this as well. Dollar is almost dead.

> Dark Sol wrote:And what's so hard to sell oil/gas in other currency? Change the contract and sell in whatever currency you want. And other countries will follow this as well. Dollar is almost dead.

That was exactly what Iraq did and look what happened to them. Thats the reason USA wants to invade Iran. Because Iran wants to change from dollars to Euro. That would mean that everyone that buys oil from Iran has to pay in Euros. Which means USA cannot print as much dollars as they used to. Which will be catastrophic...

hahaha... USA is very weak now. No way it can invade Russia. lol. But China can invade USA ... that is more possible..

> Dark Sol wrote:hahaha... USA is very weak now. No way it can invade Russia. lol. But China can invade USA ... that is more possible..

...or maybe Germany give it another try

> Dark Sol wrote:hahaha... USA is very weak now. No way it can invade Russia. lol. But China can invade USA ... that is more possible..

It only takes one button DS.

> Startyde wrote:
> > Dark Sol wrote:hahaha... USA is very weak now. No way it can invade Russia. lol. But China can invade USA ... that is more possible..
>
> It only takes one button DS.
Exactly. One button and... Fallout is more real that we could imagine.

Nobody would win in a war between Russia and USA. Still USA kicks every other country on the paper. I mean, there is not a single country that is even near USAs military. I mean just take their air-carriers, crazy.

Next war is not a war of military, or troops or carriers...

> Dark Sol wrote:
> > Startyde wrote:
> > > Dark Sol wrote:hahaha... USA is very weak now. No way it can invade Russia. lol. But China can invade USA ... that is more possible..
> >
> > It only takes one button DS.
> Exactly. One button and... Fallout is more real that we could imagine.

Time to start shifting hobbies from games to bottlecaps.

> pandaholic wrote:Nobody would win in a war between Russia and USA. Still USA kicks every other country on the paper. I mean, there is not a single country that is even near USAs military. I mean just take their air-carriers, crazy.

Pandaholic speaks the truth!

Well these times makes the rich richer and the poor poorer. Living in the U.S right now, everybody is talking about this yet I don't see this effecting their spending habits. If you don't owe a bank sums of money or are in debt then you should be ok.

Well, I think China is actually at war.
They have invested more than 1000 billions in africa and now that they see the crisis in the developped country, I don't know why they will still throw their money in africa when they can buy huge parts of our economy.