Putin's speech to the Russians.

davita

I've been following Putin's address to the Russian people. To alleviate the economic woes prevalent he has authorized an amnesty for all overseas money to be returned to Russia...no questions asked! Lots of Rubles were expatriated to many other countries to be laundered. I heard some to purchase property in Bali. I wonder, if this money is returned, if it will have an impact on property in Bali....:greedy_dollars: Any views or inside info?

Markit

With the ruble falling like a lead balloon what idiot would be in a hurry to sell their property, on a rising market in Bali, for appreciating dollars only to get it back into rubles? Davita I don't think you thought this through..?

Markit

I guess it just proves what a kleptocracy the russian "government" really is. "Okay all you guys who've been stealing the country blind for years can now bring it all home and nobody will touch youze"? We've had a few of them here but they're really not much interested in "Bali" just looking for a cheap place in the sun where they can drink as much as possible and chase pussy. My kinda guys really.

Adam

Hopefully the amnesty includes returning all the Russians to Russia.........

davita

hahaha! Kleptocracy....good description Markit. I stayed in the Conrad, Tanjung Benoa, shortly after the Bali bombing...Ok coz it was only US$100/night then. We were at the swimpool bar when this Russki came up...."Vodka tonic!" he yelled at the Bali barman...who proceeded to fill a glass with ice. "No ice!' the Russian ordered. The barman poured out the ice and put in a shot of vodka then opened a can of tonic. "No tonic!' was the bear's stern response so the barman gave him the glass. The Oaf gulped the vodka..slammed the glass on the bar and shouted "Vodka tonic!" Do Russians have ANY manners?

davita

It's President Putin who must have 'thought it through' to create amnesty...not me....:confused: I'm guessing he's hoping that those who previously moved some illegal money out of Russia will return it. Given the huge depreciation in the Ruble I would suspect that Russians, wishing to legalize their ill-gotten gains, would be able to buy back Rubles at multiple times what they transferred out. I've also read there is so much Russian money in the UK economy (legally) that the Bank of England is worried that money will suddenly flow out. My in-law relatives own a very upmarket (read expensive) resort in Bali and their main clientele over the last 5+ years have been Russians...paying cash. They say Russians just buy stuff, including property, and suggest it's to launder the money. I'm not aware about any increase in the Bali property market in the last 6 months. Realtors who drink in my pub say they haven't sold much and then only when the prices are reduced. A couple of months ago I went to see a property near Sanur for US$99,000...it's now reduced to US$79,500 and still hasn't sold.

Mark

Russia is indeed a corrupt dictatorship and kleptocracy. All Russians know it and the smart/wealthy ones have already got a meaningful portion of their money out. No way in hell that it will return in any measure and certainly there will be zero impact on property in Bali. More concerning though, is the seemingly huge influence that Russia had over the previous Indo government's mining policy and natural resources sector... Plus they make ****ty planes that run into mountains...

Mark

The planes we already know about. Here's the backup on the mining relationship. One kleptocracy wanking off another? Insight - Russia's leading role in the Indonesian mining revolution | Reuters

Markit

Mark many thanks for that eye-opener. I have some friends involved in the Indo mining industry that had to close a large percentage of their (good-going) operation and I wasn't clear what that was all about. Now I am.

SamD

davita wrote Do Russians have ANY manners?

Yes they do. Bad ones. I was staying at a small place in Amed a few years ago and as a matter of courtesy, said hello to a Russian bloke sunning himself beside me at the pool. All I got was a dirty look. No problemski, Komrade. Enjoy your holiday with your blonde secretary while your wife feeds cabbages to your ten kids back in Crapograd.

Markit

Ok a bit out of character: Give the Russians a chance to become "people". Was in Germany when the wall came down and the East Germans had some of the same characteristics that the Russians display now - not anymore. You couldn't meet nicer people and the same goes for the Chinese. Bear in mind these people have been locked up in a prison for the last 1000 years so it's gonna take some time for them to mellow out and get used to being in the world with the rest of us.

davita

Markit wroteOk a bit out of character: Give the Russians a chance to become "people". Was in Germany when the wall came down and the East Germans had some of the same characteristics that the Russians display now - not anymore. You couldn't meet nicer people and the same goes for the Chinese. Bear in mind these people have been locked up in a prison for the last 1000 years so it's gonna take some time for them to mellow out and get used to being in the world with the rest of us.

OK Markit...I'm with you on that but...can you tell them to hurry-up coz I'll be 78 next birthday...and maybe not much time left to witness this recovery. :distant: IMO...It will never happen with Chinese...I stood in front of a line with Chinese school-children for a bus...then got run-over in the rush...:grumpy:

davita

The Russians are really getting shafted in the media over all sorts of sports issues. 1. Racism from Russian football fans has been raised to world attention. 2. Drug allegations over Sochi Olympic Russian winners is under investigation...and already proved in some cases. 3. Corruption in FIFA over the Russian (and Qatar) selection process is being investigated. Putin is alleged to have presented expensive State Art to judges. Maybe these Russkis aren't as 'friendly and mild-mannered' as myself and SamD have indicated...:love_heart: and I'll retract agreeing with Markit that we should 'give them a chance'...maybe they are intent on making us more like they are!

Rangi

MAXD

the only consequence of RUB devaluation is that less russians would be coming to Bali. some of those, whos life on the island supported by income from renting out their apartments in russia, would have to leave indonesia as renting house here is already 2 times more expensive comparing to 4 months ago (if nominated in RUB) + to my mind the only problem of communicating with russians as well as with chinese is that most of them do not speak english