#US : Sabre Rattling and offer of `One Billion Dollar’s in Loan Guarantees’ and warning to `Russia’ against Military Intervention’

#AceFinanceNews say according to latest news from `MOSCOW, February 27 (RIA Novosti) – The United States has said it plans to provide Ukraine with $1 billion in loan guarantees and has warned Russia against military action in the former Soviet state as tensions simmer in the southern Ukrainian region of Crimea.

Political map of Ukraine, highlighting Crimean...

Political map of Ukraine, highlighting Crimean Oblast (Photo credit: Wikipedia)

The promise of support from Washington comes as newly installed leaders in Ukraine face the prospect of keeping a teetering economy on track and ensuring security amid challenges to their authority from opponents in the south and east of country.

Secretary of State John Kerry said that US support would come on top of an expected $1.5 billion worth of credits from the European Union and further loans from international financial organizations.

EU foreign affairs chief Catherine Ashton gave no details of the financial assistance, but said Brussels would work with the International Monetary Fund.

Meanwhile, Kommersant daily newspaper reported Thursday that the Economy Ministry in Moscow has reached out to Russian businessmen to invest more than $5 billion in the Ukrainian autonomous republic of Crimea, which is mainly occupied by ethnic Russians.

Russian businesses plan to invest some $1.4 billion on road reconstruction and $1.8 billion on projects related to sea ports, a Russian trade representative in Ukraine told the newspaper.

Nerves have been tested in the Black Sea peninsula since the ouster over the weekend of Ukrainian President Viktor Yanukovych, who had latterly chosen to direct the country toward greater economic cooperation with Russia.

Wariness among the ethnic Russian population has been fuelled by perceptions of increasingly belligerent nationalist rhetoric among politicians in the opposition movement that spearheaded Yanukovych’s ouster.

Complicating matters, representatives of the ethnic Tatar community, who represent more than one-tenth of the population in Crimea, have come out in support of the incoming regime, setting the stage for tensions inside the peninsula.

Fighting broke out Wednesday in the Crimean city of Simferopol as large crowds of opponents of the newly installed national authorities faced off against representatives of the Tatar community outside the local parliament. Many among the ethnic Russian gathering waved flags of Russia and chanted the name of the country in an apparent appeal for assistance on their behalf.

© REUTERS/ Baz Ratner

Recent clashes between ethnic Russians (left) and Crimean Tatars near the Simferopol parliament building

At least two people died and another 30 people sought medical help after the clashes, the local health ministry said Thursday.

On Wednesday, Russia announced that it was holding snap combat readiness drills involving 150,000 combat troops in two military districts, including one abutting the Crimea, a development that has been widely interpreted as a reaction to a potential escalation of instability in Ukraine. Russian defense officials have denied the maneuver is connected to Ukraine.

Kerry said any kind of military intervention violating Ukraine territorial integrity would be a grave mistake.

“What we need now to do is not get into an old, Cold War confrontation,” The Associated Press quoted Kerry as saying. “We need to work together in what does not have to be a zero-sum game to provide the capacity of the people of Ukraine to choose their future.”

In an apparent acknowledgement of Moscow’s concerns for the Russian population in Ukraine, however, White House press secretary Jay Carney urged authorities in Kiev to protect the nation’s minorities.

“We call on Ukraine’s leaders to do their utmost to protect the security and human rights of all their citizens, including the rights of minorities, to recommit to honour the state’s international obligations, and to avoid divisive policies,” Carney said.

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” Bitcoin Cyrpto Currency has no real value in the `Financial Markets’ as it is not backed by Real Asset’s”

#AceFinanceNews says according to (RIA Novosti) – The Bitcoin cryptocurrency is not on par with other financial securities as it is not backed by real assets, an official at Russia’s central bank said Monday.

The bitcoin logo

The bitcoin logo (Photo credit: Wikipedia)

The Bitcoin system, governed by complex mathematical algorithms, has been at the centre of recent debate as financial leaders grapple with how to regulate so-called virtual currencies.

As the total number of Bitcoins approaches a hard mathematical limit of 21 million, the coins become more computationally intensive – and costly – to calculate, a process known as mining.

“In order to equate Bitcoins with securities, it is essential to first understand what value a financial instrument represents,” said Andrei Shamrayev, deputy director of the central bank’s national payment system.

“[A Bitcoin’s value] is only fixed by the amount of time spent on its ‘mining.’”

The bank said last month that Bitcoin users – who are often also issuers of the currency through mining – could face jail time under laws restricting anonymous financial transactions intended to combat money laundering and the funding of terrorism.

Timur Batyrev, director of the bank’s national payments system, likened the currency Monday to a pyramid scheme fueled by speculative transactions.

“There will be people who are prepared to influence the exchange rate of Bitcoins in order to maximize profits.

Chiefly these are people who own a lot of Bitcoins, but there will also be people who will pay for this profit,” Batyrev said.

Designed by an unidentified computer scientist operating on-line under a pseudonym, Bitcoins have exploded as a currency for illicit transactions and were the primary means of payment on the narcotics-focused Silk Road on-line marketplace raided by the FBI in October.

 

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`Ukranian Parliament Authorised Disbursement of $218 Million’

#AceFinanceNews says the `Ukrainian Parliament on Monday, February 24, authorized the disbursement of 1.96 billion hryvnia ($218 million) for early presidential elections to be held on May 25.

 

The decision was passed by 352 votes with the required 226 votes.

 

English: Verkhovna Rada - Parlament of Ukraine...

English: Verkhovna Rada – Parlament of Ukraine Українська: Будинок Верховної Ради України Русский: Здание Верховного Совета Украины (Photo credit: Wikipedia)

 

Yevgeny Geller, chair of the budget committee, said the funding would be secured by redistributing other expenditures.

 

The presidential election campaign will start in Ukraine on February 25, the Central Election Commission said.

 

“The election campaign starts automatically based on the resolution of the Verkhovna Rada [parliament] on the appointment of early elections of the president of Ukraine on May 25. At a meeting on Monday, the Central Election Commission will not make a statement on the start of the election campaign,” the Commission said.

 

According to preliminary estimates, the early presidential elections will cost 1.9 billion hryvnia (over $200 million).

 

On February 22, the parliament adopted a resolution stating that President Viktor Yanukovych had given up his constitutional duties and appointing early presidential elections for May 25, 2014.

 

 

 

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China And Other Nations Are Now Dumping Treasuries

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Co-op ‘divi’ under discussion as 80,000 people ‘have their say’

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Bedroom Tax – the Court of Appeal loss is useful as it makes you THINK?

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Woman, 66, arrested while trying to smuggle 10,000 diamonds ‘inside her body’ through Toronto airport

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David Soknacki blasts Rob Ford over ‘bad math’ as he warns Scarborough subways will push city’s debt to $7B

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Wal-Mart Has Some Depressing News for Everybody

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Bitcoin ATM Arrives at Boston Rail Hub

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