MOSCOW—The Russian finance ministry on Thursday said it had fulfilled its obligations on two issues of dollar-denominated Eurobonds “in full” by sending 12.51 billion rubles ($234.5 million) in coupon payments to the National Settlement Depository (NSD). The ministry said the payments were on Eurobonds maturing in 2027 and 2047. “Thus, obligations on servicing the state…
Russia Sent Dollar-Eurobond Coupon Payouts to NSD in Rubles: Finance Ministry
June 23, 2022
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Anton SiluanovBusiness & Marketscrisisdebteconomic policieseconomyEurobondEuropeMarketsRussiaRussia-Ukraine WarsanctionsUkraineUncategorizedWorld
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The Big Swindle of 2020–22
June 13, 2022
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Business & MarketsBusiness Columnistsdebtinflationmonetary debasementrecessionstagflationU.S. economy
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News Analysis We live in the midst of the great unraveling, a time so disorienting that it becomes difficult to keep up much less describe and interpret events all around us. We tend rather to be bounced from data point to data point—high prices, learning loss among kids, falling income, increased population, the normalization of…
Cancel All Debts to China
Commentary One of the many threats to America from China runs through Sri Lanka. In that South Asian country, there are ongoing food riots. Sri Lanka owes so much to Beijing that it had to surrender one of its ports, plus 15,000 acres, for 99 years. Beijing doubtless seeks to turn the port, about 250…
Russia’s National Depository to Replace Citi as Eurobond Servicing Agent
June 2, 2022
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Business & EconomyCitiCompaniescrisisdebtDepositoryeconomic policieseconomyEurobondEuropeRussiaRussia-Ukraine WarUkraineWorld
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Russia is replacing Citibank, which has stopping servicing the country’s Eurobonds, with its own National Settlement Depository, the finance ministry said on Thursday, as it risks its first major external debt default in over a century. Sanctions imposed by Western countries and their allies on Russia after it started what it calls a “special military…
Fast, Easy Money Hacks to Get out of Debt Fast
Debt—ah, that four-letter word that sparks fear and frustration to the hearts and minds of a lot of people today. Having debt can be extremely frustrating. Debt is discouraging especially if your goal this year or in the next few years is to be financially independent. Really, COVID has put us all under a debt…
Democrats’ Latest Phony Inflation Scapegoat: Credit Cards
Commentary In this administration, it’s always someone else’s fault. Inflation is now the No. 1 concern of voters, so the White House first blamed COVID. Then Donald Trump’s tax cuts. Then Vladimir Putin. Then meatpackers and the poultry industry, Big Oil, and pharmaceutical companies. Now, Democrats have identified a new inflation scapegoat: plastic. Visa, Mastercard,…
Gen Z Says No to Work, Yes to Debt
Commentary Gen Zers are leaving the workplace in high numbers. At the very same time, they are falling deeper into debt. You’re undoubtedly familiar with “buy now, pay later” (BNPL), a type of short-term financing that allows a consumer to purchase something immediately and pay for it later. The BNPL model has soared in popularity in recent years,…
CCP Aid: A Domination Strategy
News Analysis As part of its global domination strategy, China has become one of the world’s largest lenders to the least developed nations, charging higher interest rates and demanding collateral in the form of ports, airports, minerals, and revenue streams. Foreign aid accounts for 1 percent of the $4.05 trillion U.S. federal budget, with half…
Students Must Take Responsibility for Their Debt
Commentary Lending money is not, as they say, rocket science. According to the Federal Reserve Bank of St. Louis, in the last quarter of 2021, of the total of all outstanding business loans from all commercial banks, 1.08 percent were delinquent. Per the Federal Reserve Bank of New York, as of second quarter 2021, a…
Canceling Student Loan Debt Would Make College More Expensive
Commentary It might be the biggest giveaway in American history. President Joe Biden wants to cancel more than $1 trillion of outstanding student loan debt. Biden has already delayed for more than a year student loan repayment, and under his new rules, most delinquent and deadbeat borrowers would NEVER have to repay. What a deal…
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