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ZERO HEDGE writes:

Last week, following reports that as part of its countersanctions, the Russian central bank had banned payments to foreign owners of ruble bonds known as OFZ, we said that it was now just a matter of days if not hours, before Russia was in technical default (similar to what happened in 1998 when a Russian default led to the collapse of a little-known hedge fund known LTCM, which was bailed out and ushered in today’s era of moral hazard). And ...

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