is now the time to buy Russia ETFs? They're down like 98%

That is one of the main reasons China been buying land and mines in Africa for a very long time. China plays the long game unlike the West.

 

You clearly don't understand it.
Debts will be paid in Rouble, not in $$$. But Rouble lost 50% of its value. So contractors that work in Western currencies, lose 50%.

Today there was also a proposition to vote to nationalize all foreign companies that leave Russia. In other words Russia just steals all foreign assets that are in Russia.

 

On the other side of the coin... short-sellers are still stuck in limbo waiting for their profits.

 

Remember that one country can never keep its own currency as foreign reserve. Any country can print its own money. There is no sense to hold own currency as reserve.

 

You do not understand it at all.

If any Western country freezes foreign reserve, that country does not have to fulfil its obligation. It can just refuse to pay any foreign debt holders. Legally this is no man's land.

All rules are broken and hell gets loose. So why one party breaks the rule and the other party can't?

 

As I mentioned elsewhere... Bill Ackman is once again on his "Hell is coming!" soap-box. This actually gives me hope that things will improve soon.

 

who knows, after you buy, it will go down 200 %

 

Putin believes that the Western economies are like Potemkin villages. Therefore it was an ideal time to invade.