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Putin's ORDERS to KILL & banks are comliance, VISA & MASTER Cards Dead! USD$ currency HALFED!

Ang4MohTrump

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SWIFT & ALL that, Chow Ang Moh's control over the world is fucked! 1B1R takes over all!

https://www.rt.com/business/447054-russia-bank-visa-mastercard-switchover/



Major Russian bank ready to shut off Visa & Mastercard, halves dollar holdings
Published time: 20 Dec, 2018 14:01
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© Reuters / Maxim Zmeyev
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One of Russia’s state-run banking giants sanctioned by the US, Promsvyazbank, has brought its security deposits payable to international payment systems – Visa and Mastercard – down to a minimum.
The measure is set to be implemented by converting domestic banking transactions to Russia’s Mir payment system, launched by the Central Bank of Russia in 2015, a year after Western sanctions against the country were introduced.
Russia’s ninth biggest financial institution has also reduced its foreign-exchange holdings, according to Promsvyazbank president Pyotr Fradkov, as quoted by Russian business daily Vedomosti.
Read more
Russia's alternative to SWIFT payment system poised to eclipse the original – MP
Security deposits are commonly used as proof of intent for lenders to guarantee fulfilment of their settlement obligations. The amount of such a deposit depends on the bank’s daily turnaround.
“We have carried out the necessary work with Visa and Mastercard. Our partners agreed with the measure and are ready to work with us in the same mode,” Fradkov told the media. “We are not cancelling work with Visa and Mastercard. There haven’t been any reasons for that yet.”
“Security deposits are still presented in the payment systems, so we deliver on our commitments,”
he said, stressing that the volume of the deposits had been reduced to their minimums.
According to Fradkov, Promsvyazbank is currently setting up work with Russia’s national payment system Mir and its operator Russian National Card Payment System.
The bank chief added that the share of active foreign exchange assets operated by the bank shrank from 17.5 percent to 6.8 percent, while passive assets were reduced from 12.6 percent to 5.7 percent.
Earlier this year, Promsvyazbank, which was previously privately owned, was bailed out by the Central Bank and then chosen to service Russia’s defense sector needs. The bank’s latest move comes as part of Russia’s efforts to protect its financial system from the risk of a further tightening of US sanctions.
 
Putin got enough gold already?
 
Putin got enough gold already?



Gold losing its luster as palladium prices soar; so why is Russia smiling?
Published time: 24 Nov, 2018 06:02
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An employee places ingots of 99.98 percent pure palladium on a table © Reuters / Ilya Naymushin





Palladium prices have been hitting record highs, jumping more than nine percent this year – the best performance among major metals, and investors are betting the bull run is just getting started.
Almost 70 percent of palladium demand comes from the auto industry, according to researcher CPM Group. The metal, which is used mainly in catalytic converters, has benefitted from the automobile industry’s move away from diesel to petrol engines. The shift has boosted demand in a market which currently has limited supply.
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A melter foreman works on an ingot of 99.98 percent pure palladium at the nonferrous metals plant in Russia's Siberian city of Krasnoyarsk © Reuters / Ilya Naymushin
Experts say China’s fight with smog was another contributing factor to roaring demand for palladium. Tougher pollution standards mean carmakers are using more catalytic converters.
READ MORE: 70% of Chinese firms violating pollution regulations
“The market has a very positive fundamental outlook,” Maxwell Gold, director of investment strategy at Aberdeen Standard Investments, which oversees $730 billion, told Bloomberg.

“We’ve been dealing with supply deficits going on eight years, and that’s expected to continue. Supply’s certainly been an issue on the mining front as well as the draw-down of existing stockpiles,” he said.
Market forecasters including Citigroup are projecting further price gains ahead for the metal.
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A worker checks granules of palladium, transported from Norilsk Nickel plant, for production of ingots of 99.98 percent pureness © Reuters / Ilya Naymushin
Production of palladium is very concentrated, much like that of its sister-metal, platinum. Russia and South Africa are collectively producing about three quarters of the world’s mined supplies. The output of the top producing country, Russia, was 81 metric tons in 2017. Russian company Norilsk Nickel is the biggest producer of palladium in the world, accounting for almost 40 percent of global production.


https://www.rt.com/business/445619-palladium-soar-record-gold-dim/


Palladium threatens gold’s reign as king of metals
Published time: 5 Dec, 2018 10:26
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© Global Look Press / Ilya Naymushin


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Palladium prices have skyrocketed, hitting record highs over the past year due to a growing deficit of the precious metal. The auto industry, the key consumer of the metal, is expected to bear the biggest impact of rising costs.
On Tuesday, palladium futures hit another record of $1233,82 per ounce, narrowing the price discount to an ounce of gold to the lowest margin in nearly 16 years. On Wednesday, palladium overtook gold, reaching $1,251 per ounce, as of 9:47am (GMT), while gold futures were trading at $1241 per ounce.
Palladium has taken a 49 percent jump in price since mid-August with the Wall Street Journal calling the commodity one of the best investment assets of the year. The surge in prices for the industrial metal is reportedly caused by a higher demand from the auto manufacturing sector amid the recent shift from diesel to petrol-powered engines.
Also on rt.com Gold losing its luster as palladium prices soar; so why is Russia smiling?
Palladium is traditionally used in catalytic converters aimed at controlling exhaust emissions by converting toxic gases and pollutants into less-toxic pollutants. Nearly 70 percent of palladium demand comes from global carmakers, according to data compiled by commodities advisory CPM Group.
Analysts expect the price of palladium to keep rising as high demand for the metal, especially from China which is currently fighting for a less-polluted environment, may keep supplies quite tight.
The vast majority of the rare metal is extracted from mines in two countries. Over 80 percent of palladium global output comes as a byproduct from nickel mining in Russia and platinum mining in South Africa.
It’s impossible to increase palladium output to meet the soaring industry demand, as the supplies heavily rely on volume of extraction of other metals, Steven Dunn, head of exchange-traded funds at Aberdeen Standard Investments told Bloomberg.
For more stories on economy & finance visit RT's business section



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