Financial Times/Max Seddon and Adam Samson/3-14-2022
“Russia has threatened to pay international bondholders in roubles rather than dollars just days before a key interest payment on its external debt comes due.”
USAGOLD note: This is how financial crises begin – quietly with few factoring in the unintended consequences in unexpected places. There are those on Wall Street who will remember the last Russian default in 1998 and the damage done a little-known hedge fund called Long-Term Capital Management.
