Odd thought - with Amex/Mastercard/Visa/Apple pay/Google pay no longer working in Russia, what other alternatives are there?
Also do we have a moral dilemma here, as these will not only impact the people that funded and signed off on this disgrace, but thousands of innocents as wellâŚ
russian visa still works inside russia. itâs the international services that they have cut off. so russian visa wonât work internationally and international visa wonât work inside russia.
I believe its the same for mastercard. the networks have been cut off but the russian cards still work at home.
There is no âhurting Putinâ. Putin is an institution, it is a concept, like any government or leader. âHurting Putinâ means hurting Russia, and that is the people.
It isnât really about revolt per say, but yes. Economical sanctions is a form of belligerence, that directly affects the people of a country in order to weaken its government legitimacy.
@Dougal1984 There are still smaller banks like Tinkoff that are apparently still working, their cards still can be used to pay for an app/subscription in Google or Apple system at the moment.
Also it is popular to make your phone number as a payment method so youâll be charged by carrier in the end.
They also have their âMirâ payment system for cards that had to replace Visa/Mastercard in a situation like this, but it doesnât work abroad.
As with most things, when the west leaves/stops China will fill the void happily. This is why I have always advocated exposure to China in everyones portfolio, not to directly play on themes but if west has bad decade likely China will benefit or vice versa.
Reading between the lines of the news and trying to take an independent view, has Russia finally realised it has tried to bite off more than it can chew?
Itâs demands that arenât so ridiculous considering seem to suggest so, that it has an easier out to whimper away and call it a win.
It is alone in the world in its quest. I get the old mentality - west bad, east good, and trying to expand its borders, but the world has moved on. Russia has not. Itâs leaders are from the old world, and do not encourage free speech.
Even after the UK leaving the EU, when it comes to security, the west are all singing the same hymn sheet.
To quote a phrase⌠âAll power corrupts, absolute power corrupts absolutelyâ.
As much as EU and UK democracy has its faults, Russians leaders have surrounded themselves with âyes mateâ people. Their judgement although not entirely wrong, is heavily skewed.
You summed it up well, Russia has become isolated and seems to maintain the same âoldâ mentality within itâs leadership, this feels different though to other conflicts in that countries all over the globe are speaking as one against the Ukraine war (and hopefully any other) and using financial tools to fight back which is a much better option than the literal nuclear option by far. We all despair at any people suffering though.
Geopolitical Event, Calender days to reach the Bottom and Days to Recovery
Geopolitical Event, Calender days to reach the Bottom and Days to Recovery.
In average, it takes about 22 Days after the event to reach the bottom and take another 47 days to recover.
The Dow Jones DJIA performance during the major crisis. During these events, the Dow Jones Industrial Average (DJIA) dropped by an average of about 6%. In all but four cases, the market returned to positive territory within six months of the end of each decline.
A black swan is coming⌠those words by Dan Pena maybe heâs right. Iâm long commodities only. If Putin escalates things even more, who know⌠we analysed the Russian market with an implied open of -86% from highs. Unbelievable.