Russians engage in mass shopping spree ahead of hyperinflation and possible economic collapse

(NaturalNews) As global oil prices collapse, the Russian economy — 50 percent of which is dependent upon energy exports — is continuing to slide as well, with the country’s currency, the ruble, taking it on the chin. As the ruble slide extended in recent days, Russia’s central bank boosted interest rates to 17 percent in a bid to prevent further loss of value. But such moves weren’t enough to prevent Russian citizens from panicking somewhat as scores headed for banks and for stores to stock up on whatever they could, while they could. As reported by The Associated Press, Russians … Continue reading Russians engage in mass shopping spree ahead of hyperinflation and possible economic collapse

Russians engage in mass shopping spree ahead of hyperinflation and possible economic collapse

(NaturalNews) As global oil prices collapse, the Russian economy — 50 percent of which is dependent upon energy exports — is continuing to slide as well, with the country’s currency, the ruble, taking it on the chin. As the ruble slide extended in recent days, Russia’s central bank boosted interest rates to 17 percent in a bid to prevent further loss of value. But such moves weren’t enough to prevent Russian citizens from panicking somewhat as scores headed for banks and for stores to stock up on whatever they could, while they could. As reported by The Associated Press, Russians … Continue reading Russians engage in mass shopping spree ahead of hyperinflation and possible economic collapse

Putin: Russian Economy Won’t Be Dominated by ‘Dollar Dictatorship’

Russia is leaving the dictatorship of the market where oil goods are based on the dollar Russia plans to leave the “dollar dictatorship” of market oil prices and turn to using the country’s national currency and the Chinese yuan, Russian President Vladimir Putin said Friday. “We are leaving the dictatorship of the market where oil goods are based on the dollar and will increase the possibilities of using [other] national currencies: the ruble and the yuan,” Putin said in an interview with the Russian state news agency TASS. On a November 9 meeting on the sidelines of the APEC summit Putin and Chinese President Xi Jinping discussed the possibility of using the yuan … Continue reading Putin: Russian Economy Won’t Be Dominated by ‘Dollar Dictatorship’