International defaults

Looks like Russia is being forced into default since their foreign reserves are frozen and creditors are refusing to take payment in roubles.

https://www.reuters.com/world/europe/russia-will-take-legal-action-if-forced-into-sovereign-debt-default-newspaper-2022-04-10/

And now Sri Lanka is suspending payment on foreign debt and intentionally defaulting so they can focus on their internal economy.

https://www.reuters.com/world/asia-pacific/sri-lanka-temporarily-suspend-foreign-debt-payments-c-bank-governor-2022-04-12/

Just have to wonder how many other countries are on the edge of default as well. Historically a few countries defaulting hasn't done much to the global markets, but I have to think that there has to be a tipping point and Sri Lanka's reasons for defaulting may push other countries in that direction - in other words, forget the rest of the world and prop up the local economy.

Not a good time to have any foreign funds in your stock or retirement accounts....

Oh well, not like I planned on retiring anytime soon.

Last time I looked at XE.com exchange rates a Ruble was .009 to $1USD. Made me wonder what a Russian soldier's pay is?

They do have gold reserves.