Everything is not lost yet, but the collapse in the Russian financial system is making everyone pretty nervous about a default in 2015
Russia is moving towards an incredible default, and the markets are really nervous about short-term prospects for Moscow:
Just take a look at what happened after the central bank raised its interest rates from 10.5% to 17%:
Three trading platforms have decided to stop the short selling trading on the Ruble “until further notice”.
This means the situation is bad, really really bad.