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On Wednesday, UNN reported that Ukrainian shops imposed rationing of basic products after the drastic fall in the value of the grivnya. The currency lost 70 percent of its value, causing people to stockpile food and buy electronics as a hedge. Restrictions apply to cooking oil, flour, and sugar. 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 kilogrammes (6.6-11 pounds) of flour and sugar. Bread, rice, potatoes, meat, and milk aren’t yet rationed, but aren’t so plentiful on the shelves. Stores also saw higher demand for household appliances, as people consider consumer electronics an investment as prices increase daily. Experts think that Ukrainian inflation could be 27 percent by the end of 2015.
Grivnya’s Fall
The dramatic depreciation of the grivnya triggered the rush to buy; it lost 70 percent of its value against other currencies in just a year. The conflict in Novorossiya and international reserves only enough to last for two months are key reasons for the currency’s downward spiral. The devaluation accelerated after the National Bank of the Ukraine (NBU) let the grivnya float in early February. Currently, the Ukraine is in a deep political crisis reflected in its economy and budget. The country is balancing on the brink of default. “Prime Minister” A P Yatsenyuk says that the Ukraine’s task for 2015 is “to survive” and that all people would face tough challenges no matter what their place in society. According to the NBU, the country’s GDP plunged by 7.5 percent in 2014.
The minimum weekly wage in Ukraine is 1,218 Grivnya (2,675 Roubles. 272 Renminbi. 2,700 INR. 43.50 USD. 54 CAD. 55.20 AUD. 38.30 Euros. 28 UK Pounds), which is 93 percent of the wage in Bangladesh, Ghana, and Zambia at 46.60 USD (2,870 Roubles. 292 Renminbi. 2,900 INR. 58 CAD. 59 AUD. 41 Euros. 30 UK Pounds. 1,305 Grivnya). The official exchange rate set by the NBU for 24 February is 28.29 Grivnya/USD and 31.96/Euro. Exchange offices sell the USD at more than 40 Grivnya and the Euro at about 50. In an attempt to stop the currency’s free fall, the NBU 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.
At Wednesday’s Cabinet meeting, Yatsenyuk criticised the decision, saying that didn’t stabilise the Ukrainian economy, “This morning I learned that the NBU on its own, without consultation, decided to close the interbank market, which surely doesn’t add stability to the grivnya”. Meanwhile, Ukrainian media reported that junta strongman P A Poroshenko called for the head of the NBU V А Gontareva to “stop messing with the exchange rate” and gave her a week to solve the issue.
25 February 2015
RT
http://rt.com/business/235375-ukraine-hryvnia-currency-crisis/
Editor:
Of course, Yatsenyuk doesn’t want restrictions on forex transactions. The corrupt bastard is turning his assets into USD and Euro in preparation for his flight abroad when the junta falls apart. Slava Ukraina! The Ukraine ain’t dead yet, but he’s getting ready for when it is. There’s rationing in Kiev and none in Moscow… the asshat bloviators at Stratfor conclude that Russia’s falling apart! They’re nothing but politically correct (in a rightwing sort of way) water-carriers for Know Nothing trash like Ted Cruz and Marco Rubio, dontcha know. If Moscow’s going down, I’ll check into Bedlam with Mr Scrooge…
The Ukrainian SSR was the jewel-in-the-crown of the USSR… today, it’s on a level lower than Dogpatch or East Bumfuck. Let’s see… haven’t the Uniates been given free rein over the last 24 years? What does that tell you about “Galician Consciousness?” I know what it tells me…
BMD
EP Ready to Interfere in the Ukraine per “Ukrainian Orthodox” Bishop from Canada… Is Black Bart Getting Ready to Knife Christ’s Church in the Back at the Behest of the Anglo Americans and Papists?
Tags: Christian, Christianity, civil unrest, diplomacy, diplomatic relations, Eastern Orthodox Church, Ecumenical Patriarch, Ecumenical Patriarch Bartholomew, Ecumenical Patriarch Bartholomew I of Constantinople, Ecumenical Patriarch of Constantinople, Ecumenical Patriarchate, Ecumenical Patriarchate of Constantinople, Moscow Patriarchate, Novorossiya, Orthodox, Orthodox world, Orthodoxy, political commentary, politics, Religion, Religion and Spirituality, Russia, Russian, Russian Orthodox Church, Ukraine, Ukrainian Civil War, Ukrainian Orthodox Church of Canada, United States, UOC/MP, UPTs/MP, USA, war and conflict
Will Bart remain a loyal slave of the West… or will he turn on them? Beware of Greeks bearing gifts… has the West forgotten that?
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Metropolitan Yuri Kalischuk, the head of the Ukrainian Orthodox Church of Canada (subjected to the EP), said during an interview in Ukrinform that the EP is ready to help Orthodox Ukrainians to unite and awaits for a request by the Churches and the President (sic) of the Ukraine. Speaking about his recent visit to Istanbul, and his reception by Patriarch Bartholomew Archontonis of Constantinople, Metropolitan Yuri said, “The patriarch emphasised that the EP never forgets that she’s the Mother Church of Ukrainian Orthodoxy (sic). He’s said this many times before. The EP is monitoring the situation in the Ukraine and considers it’s an ideal time to unite the Orthodoxy there. Uniting the Orthodox in the Ukraine will work. This is an ideal situation”. Metropolitan Yuri noted that Orthodox believers in the Ukraine hold different positions… some are pro-Ukrainian and some are pro-Moscow. However, the Church’s flexibility makes it possible to meet the needs of people with different views. What the EP had in mind in this case, Metropolitan Yuri didn’t spell out, as well as why he equates the canonical Ukrainian Orthodox Church with schismatic conventicles in speaking of unity. Meanwhile, Metropolitan Yuri called the MP’s jurisdiction over the canonical Ukrainian Orthodox Church “unnatural”, saying, “The EP expects to receive requests from state leadership and the Ukrainian Orthodox jurisdictions here, most importantly, from the President of the Ukraine (sic), inviting the EP to help in this situation”.
25 February 2015
Sedmitza.ru
http://www.sedmitza.ru/text/5430496.html
Editor:
Say “sayonara” to the notional “all-Orthodox Sobor” in 2016. This move shitcans it permanently. Now, why would Bart rip up something that’s he wanted for years? I think that his sugar daddies at the Vatican and Langley jerked his chain. The Anglo American Establishment and the Curia are seeing their “Ukrainian” project imploding… and in short order. They’re pulling out all the stops to keep their neofascist clients afloat. Unfortunately, the Ukrainian situation doesn’t play to the Anglosphere’s strengths. Firstly, the Black Sea isn’t suited to carrier operations or to nuclear attack sub operations. It’s ideally suited for silent diesel boats… remember the kerfuffle when the Norwegian diesel boat snuck past a US Navy carrier’s escort group? The Russians have that sort of stuff in the Black Sea. That is, Anglosphere naval superiority doesn’t mean squat in this theatre. In any case, if the USN tried moving ANY naval forces into the Black Sea, the Russians would notice it as it passed through the Turkish Straits.
Secondly, NATO airbases are far from the putative warzone. That’s important, for if NATO tried moving aircraft to closer bases in the Ukraine, Russian air defence would register that, probably, leading to preventive strikes on the bases by Russian forces (which are probably on alert due to the crisis). The farther away the bases, the less ordnance that the aircraft can carry… that’s just simple logic. If they tried in-air refuelling, Russian radar would catch that, spoiling the surprise. Air power is utterly dependent on bases… it’s not as mobile as the uninformed think.
Thirdly, Russian satellite recon would detect any NATO ground movements, and there isn’t any major ground forces available intheatre to begin with. The USA doesn’t have the ground forces to take on Russia, ISIS, and the Taliban all at once, not counting forces to watch the Chinese, Iranians, and DPRK. If you recall, last year, Putin got authorisation from the Gosduma to call reservists to the colours for “refresher training”… normally, this isn’t done in the Russian system. What that means is that Russia can call reservists back into service under a legal umbrella. In short, the NATO situation sucks… the military men must know it, but the “Perfumed Princes” echo the pols to keep their jobs.
A Gori is in the making… the Novorossiyans and the Russians already received an intel windfall at Debaltsevo. Some of the American equipment was still in its original packing crates! Trust me… that stuff is now in Akademgorodok; the wonks are tearing it down and inspecting it. Remember, the USSR reverse-engineered the B-29 in a year’s time… a tremendous achievement (A N Tupolev and his team rightfully received a Stalin Prize for their achievement). Russia still has world-class mathematicians, scientists, and engineers… if there’s anything that they can glean from the captured equipment and manuals, they’ll do it… and right smartly, at that.
All of the above is why the USA pressured Bart to do this goofy move. It’s desperate. It’s trying to stem Russia’s revival as a Great Power, and failing. What’s Bart to them? He’s nothing but an expendable pawn. Shall he remain a reliable lickspittle? Only time will tell us…
BMD