The last two years of Barack Obama’s presidency will see the rise of a new Russian empire.
This new empire will resemble the Soviet Union in shape, the Czars in style.
I still believe all of that. And today we learned that Ukraine has entered its death-spiral as an independent country. Hyperinflation–the thing Krugman says went extinct with the gold standard–has returned. As ZeroHedge points out, this is the end-game for Ukraine.
So as the Ukraine government watches its country go down in flames, with the blessings of the US State Department of course, it decided to take action. According to Reuters, with the hryvnia in free fall (see above) the central bank tried to call a halt on Wednesday by banning banks from buying foreign currency on behalf of their clients for the rest of this week.
If you were Poland, how would you answer that question?