alexrpt
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
Maidan what was it good for, absolutely nothing.
Another US coup is coming undone at record speed. Good thing we have the US and UK cavalry about to arrive to train a bunch of skin head soldiers.
What happened the last couple of times the US and UK poured weapons into a country and trained their radicals?
One word…blowback!
We had the Afghanistan Mujahideen which morphed into Al-Qaeda, and the Free Syrian and Libyan armies that morphed into ISIS.
What will the neo-nazi’s in Ukraine, currently being funded and trained by the US and EU, morph into? What terrible blowback attacks will they inflict on Polish and German civilians when they eventually turn on their masters…as they always end up doing.
RT reports…
Ukrainian supermarkets have imposed rationing of basic products after the drastic fall in the value of the hryvnia. The currency has lost 70 percent of its value causing people to stockpile food and buy electronics as a hedge.
Restrictions apply for goods such as cooking oil, flour and sugar, Ukraine’s news agency UNN reports Wednesday. Retailers may sell no more than two bottles of sunflower oil, and two packs of buckwheat per customer and, depending on the store, from 3 to 5 kilograms of flour and sugar.
Bread, rice, potatoes, meat and milk are not yet rationed, but are not so plentiful on supermarket shelves.
Stores have also see higher demand for household appliances, as people consider consumer electronics an investment as prices increase on a daily basis, RIA reports. Inflation in Ukraine is expected to reach 27 percent by the end of 2015.
The minimum weekly wage in Ukraine is less than $43 (1,218 hryvnia) which is lower than in Bangladesh, Ghana and Zambia ($46.6).
The official exchange rate set by the National Bank for February 24 is 28.29 hryvnia to the dollar and 31.96 to the euro. Exchange offices sell the dollar at more than 40 hryvnia and the euro at about 50.
In an attempt to stop the currency’s free fall the National Bank of Ukraine stepped up its currency controls Wednesday, preventing banks from buying any foreign currency for clients this week and limiting what they could buy for themselves.
Prime Minister Arseny Yatsenyuk criticized the decision saying it doesn’t add stability to the Ukrainian economy.
“This morning I learned that the NBU on its own, without consultation, decided to close the interbank market that surely doesn’t add stability to hryvnia,” he said talking at Wednesday’s Cabinet meeting.
Meanwhile Ukrainian President Petro Poroshenko called for the head of the NBU Valeriya Gontareva to “stop messing with the exchange rate” and gave her a week to solve the issue, Ukrainian media reported Wednesday.
incredible fall of ukr hryvnia #Ukraine thanks to #euromaidan pic.twitter.com/HPWtP3bHkY
— Nadia Nadia (@NadezhdaAle) February 24, 2015
References:
http://rt.com/business/235375-ukraine-hryvnia-currency-crisis/
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.