{"id":9395,"date":"2014-03-08T03:35:47","date_gmt":"2014-03-08T08:35:47","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=9395"},"modified":"2014-03-08T03:35:47","modified_gmt":"2014-03-08T08:35:47","slug":"recession-time-for-russia-the-market-monetarist","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2014\/03\/08\/recession-time-for-russia-the-market-monetarist\/","title":{"rendered":"Recession time for Russia | The Market Monetarist"},"content":{"rendered":"<p>Lars Christensen at <em>The Market Monetarist<\/em> writes:<\/p>\n<blockquote>\n<p>&#8230;.. sharply increased geo-political tensions in relationship to Putin\u2019s military intervention on the peninsula of Crimea has clearly shocked foreign investors who are now dumping Russian assets on large scale. Just Monday this week the Russian stock market fell in excess of 10% and some of the major bank stocks lost 20% of their value on a single day.<\/p>\n<p>In response to this massive outflow the Russian central bank \u2013 foolishly in my view \u2013 hiked its key policy rate by 150bp and intervened heavily in the currency market to prop up the rouble on Monday. Some commentators have suggested that the CBR might have spent more than USD 10bn of the foreign currency reserve just on Monday. Thereby inflicting greater harm to the Russian economy than any of the planned sanctions by EU and the US against Russia.<\/p>\n<p>By definition a drop in foreign currency reserve translates directly into a contraction in the money base combined with the CBR\u2019s rate hike we this week has seen a very significant tightening of monetary conditions in Russia \u2013 something which is likely to send the Russian economy into recession (understood as one or two quarters of negative real GDP growth).<\/p>\n<\/blockquote>\n<p>Read more at <a href='http:\/\/marketmonetarist.com\/2014\/03\/07\/recession-time-for-russia-the-ultra-wonkish-version\/'>Recession time for Russia \u2013 the ultra wonkish version | The Market Monetarist<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lars Christensen at The Market Monetarist writes: &#8230;.. sharply increased geo-political tensions in relationship to Putin\u2019s military intervention on the peninsula of Crimea has clearly shocked foreign investors who are now dumping Russian assets on large scale. Just Monday this week the Russian stock market fell in excess of 10% and some of the major &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2014\/03\/08\/recession-time-for-russia-the-market-monetarist\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Recession time for Russia | The Market Monetarist&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,26],"tags":[616,892,2880,3006,3007],"class_list":["post-9395","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-russia-former-ussr","tag-cbr","tag-crimea","tag-recession","tag-russia","tag-russian-central-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Recession time for Russia | The Market Monetarist - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Recession time for Russia | The Market Monetarist - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Lars Christensen at The Market Monetarist writes: &#8230;.. sharply increased geo-political tensions in relationship to Putin\u2019s military intervention on the peninsula of Crimea has clearly shocked foreign investors who are now dumping Russian assets on large scale. 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Metals Focus on Russian Gold holdings: With low local gold consumption, almost all Russian mine output (around 330t last year) is expected to be bought by the\u2026","rel":"","context":"In &quot;Gold &amp; Precious Metals&quot;","block_context":{"text":"Gold &amp; Precious Metals","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/gold-precious-metals\/"},"img":{"alt_text":"Spot Gold","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-03-gold.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-03-gold.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-03-gold.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-03-gold.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":7685,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/04\/blame-del-pont-for-the-nightmarish-rise-in-argentine-inflation-the-market-monetarist\/","url_meta":{"origin":9395,"position":1},"title":"Blame del Pont for the nightmarish rise in Argentine inflation | The Market Monetarist","author":"ColinTwiggs","date":"May 4, 2013","format":false,"excerpt":"Lars Christensen cites MercoPress on hyper-inflation in Argentina: Because of inflation, people collect their salaries and rush to turn them into foreign currency\u201d, added the money traders\u2026 He observes: The collapse of the peso should be no surprise to anybody who have studied Milton Friedman. 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They are now opting\u2026","rel":"","context":"In &quot;Russia &amp; Former USSR&quot;","block_context":{"text":"Russia &amp; Former USSR","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/russia-former-ussr\/"},"img":{"alt_text":"Vladimir Putin","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/putin.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":13565,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/07\/12\/the-italian-bank-crisis-the-one-graph-version-the-market-monetarist\/","url_meta":{"origin":9395,"position":3},"title":"The Italian bank crisis \u2013 the one graph version | The Market Monetarist","author":"ColinTwiggs","date":"July 12, 2016","format":false,"excerpt":"I love Lars Christensen's work. Simple but elegant. This is a bit wonkish for an investment blog but he makes a very important point which applies to far more than just Italy. Today I was interviewed by a Danish journalist about the Italian banking crisis..... He asked me a very\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6268,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/24\/the-export-price-norm-saved-australia-from-the-great-recession-the-market-monetarist\/","url_meta":{"origin":9395,"position":4},"title":"The \u201cExport Price Norm\u201d saved Australia from the Great Recession \u00ab The Market Monetarist","author":"Colin Twiggs","date":"November 24, 2012","format":false,"excerpt":"The Market Monetarist writes how a combination of luck and good policy saved Australia from recession. Milton Friedman once said never to underestimate the importance of luck of nations. 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In Britain that would be extremely easy \u2013 I don\u2019t think there is a country\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/9395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=9395"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/9395\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=9395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=9395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=9395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}