The most dramatic damage Russia performed on it's own currency started with the discovery of it's faux face.
As years went by and Russia appeared to be one of the best emerging markets among the BRIC nations, FAITH and PREDICTABILITY added to the interest in the country. But, when it did an about face and returned to it's 'default' setting in regard to Ukraine, it only served to create skepticism about Russia's ability to maintain it's assurances in investments.
It is more than obvious Russia is concerned about it's own internal stability. There has been movements within Russia to change the social values and create a far better political environment that would promote growth. Any change in a country promotes growth. That was the focus of the investors. Change and openness welcomes benevolence and healthy environments for business.
There is no reassurances at this point that Russia will even contain it's own borders. Nationalism is a symptom. It is a symptom of a country facing stress that could threaten it's own sovereignty. Bush/Cheney created nationalism in the USA post September 11, 2001 to harness cohesiveness for the political paradigm change we are still regretting as a country, ie: The Patriot Act, NSA leading to assaults against individual constitutional rights. Those laws would never have been tolerated without a culture of fear and the sense of nationalism in the USA.
Russia appears to be using nationalism to create a faux sense of a cohesive Russia. United if you will. The movement back to communism whereby invasion and expansionism as illustrated with Ukraine only goes to prove Russia has to go to extremes to maintain it's status. Regression is an overt expression of lack of confidence. Regression under Bush/Cheney was everywhere. Insecurity breeds regression and regression along with nationalism is a method of controlling the populous to insure 'certain' outcomes.
Oh, well.
If Russia continues these aggressions, propaganda and a high degree of unpredictability, the global community only needs to watch as deterioration takes it's toll.
