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Novorossia deploys it's own currency

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Old 21st September 2014, 05:50
Pan Szymanowski Pan Szymanowski is offline
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Novorossia deploys it's own currency

Novorossia deploys it's own currency. The point of no return was successfully passed, I believe. Term "Ukraine" should be considered "incorrect". Must say "post Ukrainian space"

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Old 21st September 2014, 06:56
Hannia Hannia is offline
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Siefart and the rest of the Russian propaganda buffoons here are real slow.

You, Nieszymanowski, are a real loser. You're pushing the newrussia phoney money story, while the big game was the IMF. It got coverage in the Wall Street Journal. You are pathetic!

Weren't you born in Sevastopol > Crimea. What are you doing in States? Consider changing your nick to INGRATE. LOL
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4:57 pm ET Sep 18, 2014 By
Ian Talley IMF
Fake IMF Letter Joins Ukraine Propaganda War

The propaganda war over Ukraine has a new addition: a fake letter by International Monetary Fund managing director Christine Lagarde to Prime Minister Arseniy Yatsenyuk spurning the leader’s alleged request for more cash.

It has been posted by pro-Russian separatist sites such as E-News and NovoRussia.

But the letter is bogus, an IMF spokeswoman confirmed. At least one IMF expert called it out as such, noting its “pidgin English,” after it drew some attention, including on social media.

The motive for this piece of disinformation isn’t entirely clear, other than to besmirch Ukraine’s prime minister, the National Bank of Ukraine and the IMF, which is leading the international bailout.



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Last edited by Hannia; 21st September 2014 at 16:27.
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Old 1st October 2014, 10:29
CleanSweep CleanSweep is offline
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The IMF is at best poor in it's economic forecasting in my view - just look at it's Greek forecasts since bailout #1. I don't want to give the IMF forecast charts here as it's off topic but in every case and every year they have been wrong.

On the Ukrainian case I believe some degree of 'quantitative easing' is necessary. Hell the Japanese, Yanks, British and the EU (via LTRO) have done it and they are not at war. It has also been normal in the past for IMF bailouts to come with a devaluation - this was impossible in Greece due to the Euro so may have been 'new' for the IMF. Ukraine cannot afford to run out of money while at war though clearly we'd all like the value of the currency to rise in future. The IMF need to get real.

For my own part - as reasonably wealthy investor - I am buying UAH and more than happy to invest in Ukraine. We already have work contracted out in Lviv Oblast for several Polish companies and my daughter wants to open a French style boulangerie in Kyiv. Why? Well the rule for investment is buy cheap and sell high. I believe this is about the lowest Ukraine will go and it's long term upward from now. My families property being in Ukraine has nothing to do with my view of the investment potential; I am a capitalist first and truly believe that Ukraine is at a nadir so the buy cheap sell high formula applies not as a resident but as an investor.
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Old 1st October 2014, 14:35
Siefert Siefert is offline
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A paper currency is as good as the country's capacity to produce and its credit. If Novorussia stays/becomes independent theoretically it will have no debt which is a good thing.
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Old 1st October 2014, 14:57
Siefert Siefert is offline
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@CleanSweep
You are courageous to invest in Ukraine right now. I wish you and your investments every success.
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Old 1st October 2014, 21:45
CleanSweep CleanSweep is offline
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Quote:
Originally Posted by Siefert View Post
@CleanSweep
You are courageous to invest in Ukraine right now. I wish you and your investments every success.
Every investment carries risk - even if you keep your money in a bank (as the Cypriots discovered). The potential for risk is reflected in the potential profit. I would NOT invest in Russian held Donbass at present though as it will never have international legitimacy which is a per-requisite for credit.
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Old 1st October 2014, 21:57
MichaelB_PL MichaelB_PL is offline
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Quote:
Originally Posted by Siefert View Post
You are courageous to invest in Ukraine right now.
I think that if he's investing in Kiev or Lwów (Lviv), it's generally ok.
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