"there is going to be a catastrophe"

[yaesu]

Sergei Aleksashenko, a former deputy chairman of Russia’s central banks, said “there is going to be a catastrophe” on the Russian currency market on Monday. “I think they will stop trading and then the exchange rate will be fixed at an artificial level just like in Soviet times,” he added.

Michael Farr, chief executive of financial consulting firm Farr, Miller & Washington, said of the impact on global markets: “This could be a surprise that is not taken very well if it means a slowdown in international trade.”


In other words, this could mean one of the worst economic disasters for Russia in decades.

[live love laugh]

1. How could Putin have miscalculated this thing so badly? It's unimaginable.

[JohnSJ]

6. Because he never thought NATO would be united. I suspect he thought that because of everything

trump did to try and destroy NATO

Thank goodness Biden won, because I think things would have been much different if trump got a second term, not only for Ukraine, but for our Democracy, which is still very much at risk from what trump did

[RockRaven]

7. Significant isolation for the past two years (supposedly he's very scared of covid); surrounded

by toadies, yes-men, and people afraid of upsetting the dictator; age-related cognitive decline or a neurodegenerative condition; extreme urge to cement a legacy of returning Russia to former glory before he croaks; recent history of the US and Europe being fickle, divided, paper tigers; etc.....

Maybe all of those aren't right (in terms of factoring into his decision-making) but I bet some of them were factors.

[BigmanPigman]

10. That is a great summary of the situation.

[JI7]

12. I think he also got over confident with Trump in office

I'm sure they had a plan for this. Trump for sure would not have provided any help to Ukraine and would not have taken the lead in uniting others against Russia .

[cemaphonic]

18. Classic pathology of autocrats

Very hard to get accurate intelligence, or dissenting opinions/alternative options when all of your underlings are terrified of you.

Plus Putin's reputation as some sort of canny political mastermind is wildly overblown. He's carved off a couple slivers from unstable Post-Soviet neighbors at the cost of isolating Russia. With Russia's population and resources, they could be the respected world power he wants to be seen as, instead of a giant nuisance that the world puts up with because of their nukes.

[Thomas Hurt]

2. Hope so, well deserved and they may not think but the people of Russia...

have a way out. I don't think Russians really understand that though. Too many centuries led by dictators and Tsars.

Stockholm Syndrome at a nation state level.

[uponit7771]

4. +1, they don't know any better but Ukrainians do and do NOT want to go back to that bullshit

[wnylib]

11. They overthrew the tsars.

[uponit7771]

3. Question: Does Putler have his cash in other banks? If so then yeah, he's bat shit no doubt

[yaesu]

5. I'm sure if there is a way to hide his money he has found it plus who know how much is hidden

in cyber currency or gold.

[nilram]

8. Forex markets open 10pm GMT on Sunday / 5pm Eastern / 2pm Pacific

[Warpy]

9. It's not going to be a picnic here, either

Throwing a wrench into the world banking system is going to have consequences for all of us, we're going to see everything slow down, from getting parts to fix your car to getting fruits and veg at the supermarket.

What will be a damned nuisance for us will be a disaster for Russian banks and the oligarchs who own them.

[SunSeeker]

14. I am happy to put up with nuisance to save democracy.

Putin has been the cancer eroding democracy since he scammed his way into office. He got Trump elected. He needs to be defeated.

[Withywindle]

19. +1

We will have inconvenience for sure, and some of our oligarchs will lose some of their assets (boo hoo hoo) but we are not at risk of violence or invasion, so we need to keep perspective and remember what the Ukrainian people are risking.

If Putin falls out of favor, which he will if the Russian mob loses significant money, he could very well have a "mysterious" short fatal illness just like the ones he ordered for so many others. A good thing in the short term,though I don't have much faith in the next guy being much better.

[monkeyman1]

15. buy a horse & talk to a farmer ! you can move &still eat !

[SunSeeker]

13. Good. Let's grind Russia's economy back to the Stone Age.

[Cha]

16. Putin begged for it.. Did he

think the world was going to stand by and do Nothing?!

MegaloMANIAC!

[Demovictory9]

17. I hope this hurts Russia and no other country

[we can do it]

20. Hope it hurts anyone siding with pootin, like Belarus.