A few months ago, the media stepped in to push the Russian financial collapse idea along with the orchestrated attack by big finance. They have been relatively silent on stabilization of the ruble and now its rally. I stand corrected, The Economist writes that the rally is "Unfair". They generally must stay silent because discussing what and how things happened would boost moves by "their" experts versus our experts who watch a crash and yell "whoocoodanode". Part of avoiding the actions is to hide that our elite could do the same but do not in moments of crisis. To give attention now would also set up a tricky situation coming up later this spring. Our media's job is not to inform but to entertain and persuade support for the machinations of our progressive elite.
Fun was reading Western sources write that aw shucks the Russkis won't be able to save their currency, and then see the ruble stabilize and now recover due to actions taken by the Russians. That Forbes writer talked of a desperate 150 basis point move, and had no clue that a central banker in 2014 would move rates up from 10% to 17%. Oh my God, a central banker who acts like days of yore. Russia's central bank head is a woman like Janet Yellen but much younger and on a mission to protect the ruble. The Chinese did help the Russians out, but the success to their moves were facing down speculators. The FED's mission is not to protect the dollar. The FED could pop bubbles before they become large and disastrous, but they do not. The "measured" interest rate hikes through the years by both Greenspan and Bernanke were to keep the debt expansion going for as long as possible and allow for more marginal borrowers to get pulled into the system. Sharper rate hikes at good moments in the mid-'00s might have prevented top of the bubble speculation and made the collateral damage not as horrendous. That is not our style though, as we just clean up after the bubble pops and the middlemen collect their fees. It was not always the case as we did rate hikes like that in the early '80s.
The ruble's recovery is based on many different factors. Oil's stabilization helped, but their central bank held firm in the face of the attack. The recovery might continue and even pick up steam as the spring rolls on. Why? The sanctions on Russia expire in June. They cannot be extended without Greece's vote. This makes those meetings between the Greeks and Russians make more sense now as besides some cash for the Greeks, the Greeks actually have something to offer the Russians besides Spring Break destinations. The entire euro experiment hits weird snags as sanctions, the euro, debt and a whole host of related items come to a head. The Greeks could take bailout money, but veto the sanctions if the deal if less than they need and the Russians can supplement. Shhh, but the Russians are already dangling 5 billion euros to Greece in exchange for a gas pipeline. Anyone look at who picks up most of that Greek debt? The EFSF owns over 60%, and individual nations like Spain and Italy own, roughly, a combined $60 billion. Think Italy and Spain can handle that hair cut? How much could Russia supplement? How fast does Greece veto those sanctions? How much does the ruble recover afterwards?
The media can report on the event. It will go into hysterics for Greek default monthly (we've witnessed this for years), and it can go into rage if the Greeks help the Russians for one moment. Will we get an analysis of whether those sanctions were justifiable? Probably not, as that would create a curiosity about why or when exactly did everything start in Ukraine? Why does no one place sanctions on us? Wait, we're the global empire? Hold on, how can that be, the US is the underdog helping the little guy find freedom!?!?!??! Russia is no angel, but Americans cannot have that conversation about the ethics of the empire. The regime cannot have plebs evaluating the ethics of policies in the name of progressivism. They may start to question the ethics of domestic policies. Forget ethics, we cannot talk about how Russia weathered a financial panic, and what they did that our policymakers are so afraid to do.