MOSCOW
(Reuters) - Russian stocks and bonds fell sharply (click here) and the central bank hiked
interest rates and burned through $10 billion of its reserves on Monday
to prop up the rouble as markets took fright at the escalating tensions
with neighboring Ukraine.Investors were ditching all Russian assets alike - the rouble, stocks and bonds. The Ukrainian hryvnia has firmed since curbs were imposed on deposit withdrawals last week, but, Ukraine's eurobonds fell sharply.
Russia's central bank unexpectedly raised its key lending rate - the one-week repurchasing agreement - to 7 percent from 5.5 percent, in an attempt to stem capital flight.
The central bank did not mention Ukraine in its statement, but said the decision to raise rates was aimed at preventing "risks to inflation and financial stability associated with the recently increased level of volatility in the financial markets".
It should have been more obvious to the global community there wasn't sincerely an increase in citizen respect in the communist countries, but, I have to blame the eight years of Cheney and Bush for the continued prison these countries live in.
To create an analogy, the Russian ballet is beautiful in the master's performance we all love, but, where is 'the soul' of jazz and modernism for the citizen's suffering of living in a box?
BEIJING
(Reuters) - China and Russia's foreign ministers (click here) spoke about the crisis in Ukraine on Monday, and both countries agreed it was very important to "appropriately handle" the issue, China's Foreign Ministry said."Both sides believe that the appropriate handling of the Ukraine crisis is very important to maintaining regional peace and stability," the ministry said in a statement on its website.
There isn't the commitment to peace in the protectionism of the communists in the 21st century. I can't believe for as far as Russia has come it hasn't been able to break out of the chains of being The West's enemy and nuclear nemesis. China is bland and while it likes to mimic the successes of the USA as it's own it still doesn't have the footing to move into a world of peace.
I have to say, though, with China moving it's people into a service economy there is a strong willingness to improve the quality of life of it's citizens. I am not seeing that commitment by Russia, especially now.
I thought in a post 911 world the sincere hatred of death would take hold and the major powers of the world would abhor any insult to longevity of their citizens and realize the brief life we are all relegated by aging. See, the world of citizens have 'gone there.' I mean, let's face it, there were only three thousand people dead on September 11, 2001. Compare that to the all too frequent insult of genocide in Africa. The beauty of September 11, 2001 was the demands of response by the government of the American people. I am not talking about the exploitation of America's power when Bush/Cheney abused their power. I am thinking about the way the 'individual' was elevated to a reason to war.
For as brief in history as it was, the world came together. The major powers locked their will to end the reign of insane prehistoric groups of idiots that mastered the attack on a civilized society by using it's own infrastructure. There was the common wealth of understanding that became a global asset to end the threat of angry men that failed to rule the world through the coercion of fear. I simply find it incredible that history is going to demand that Bush/Cheney won their insane thirst for power over the resolve of a world demanding peace and the elevation of life over death.
Unfortunately, on this day we are looking at the remnants of the old communists with the status they seem to still contain. Putin is very wrong and I can only wonder how long it will take to bring back the communists of change whereby the lives of their citizens aren't on the chopping block of power.
The Ukraine cannot be sacrificed for the lack of attention by The West in recent years. I believe The West has an obligation to the people of The Ukraine to embrace their reality and move them to the quality of life they seek. Tomorrow we will find out how far Israel has come in pursing peace over oppressive politics.
