George Soros recently wrote an article for New York Books about developing a new policy to rescue the Ukraine. In the article, Mr. Soros spoke candidly about Russia and the United States intervening on the world stage and getting involved with the physical and financial restructuring of the Ukraine. George Soros has taken a vested interest in the Ukraine because it has become a hub in the area for many of his business interests, and he also prides himself on being a humanitarian. Right now, the Ukraine needs all the help it can possibly get, yet many of its people are torn in three directions. Some Ukrainians want independence and others want the European Union, and there are those who would like to rejoin the Russian Federation. In the article, Mr. Soros offered his expert financial and political opinions and observations regarding the situation.
George Soros – The New York Times
The United States and the European Union leveled sanctions against the Russian Federation for intervening in the affairs of the Ukraine. According to Mr. Soros, the sanctions have had a huge and terrible impact on the Russian Federation beyond what anyone expected, and the tandem sanctions also worked incredibly swiftly. They were able to cut Russia’s connection to capital markets with frightening speed, which ended up causing an enormous amount of economic damage to the nation, which has roughly 8,000 nuclear weapons. Once again in the area, the conflict seems to be directly related to energy, specifically Russia’s oil and huge natural gas reserves. Unknown to most people, Russia has one of the largest oil and natural gas fields in the entire world. Mr.Soros said the Russian Federation needs around $100 a barrel to keep a balanced budget. When the article broke over a year and a half ago, the Russians were getting approximately $55 a barrel. George Soros has eluded to the long fall and stagnant growth as being caused by the Russian Federation’s military ego. He’s right.
Russia has defaulted on its loans before and run out of currency as Mr. Soros has pointed out. At the same time, it also defaulted on its debt, which led to the ruble, which is the name of Russia’s currency, being worthless. This was terrible for Russia, and it was terrible for the Russian citizens. The money of the people became worthless, and in the age of globalism and currency markets, the collapse of Russia’s currency destroyed investors, crippled the currency value of other nations and caused huge inflation.
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