Follow Paul Gregory by Email

Tuesday, December 16, 2014

1 AM December 16. Russia Became A Banana Republic

Russia’s central bank waited until the early morning hours to raise its interest rate from 10.5 to a whopping 17 percent to encourage citizens to hold rubles and foreigners to buy rubles. Rather than building confidence, markets interpreted the move as panic. By late afternoon, it took an unprecedented 80 rubles to buy one dollar. Despite its vaunted reserves, the mighty Russia gives the appearance of a Latin American banana republic, dependent on one product, with a collapsing economy and declining living standards that can no longer support Vladimir Putin’s expensive foreign adventures or keep alive his social compact with the Russian people.


go to Forbes.com

2 comments:

  1. When I found Dr. OSOFO I was in desperate need of bringing my ex lover back. He left me for another man. It happened so fast and I had no say in the situation at all. He just dumped me after 3 years with no explanation. I contact Dr. OSOFO through his website and He told me what i need to do before he can help me and i did what he told me to, after i provided what he wanted, he cast a love spell to help us get back together. Shortly after he did his spell, my girlfriend started texting me again and felt horrible for what he just put me through. He said that I was the most important person in his life and he knows that now. We moved in together and he was more open to me than before and then he started spending more time with me than before. Ever since Dr. OSOFO helped me, my partner is very stable, faithful and closer to me than before. I highly recommends Dr. OSOFO to anyone in need of help. Email:                            (osofo.48hoursolutioncenter@gmail.com )   Call him or add him on whatsapp via: +2349065749952   

    ReplyDelete
  2. very interesting amazing write , good job and thanks for sharing such a good blog. @ Packers and Movers Ahmedabad

    ReplyDelete