Posts Tagged ‘gold’

Putin’s dilemma

Friday, December 19th, 2008

Russia has been run by a KGB hierarchy for the past ten years. I have previously posted on the story. I think the methods of Putin resemble Fascism and he has shown signs of a return to aggression as state policy. Much of the Russian adventurism was fueled by high oil prices as Russia is a major oil producer and has not used the income to diversify their economy. Now, with the steep decline in oil prices, there is unrest in Russia. The ruble has fallen sharply even as the Russian central bank has spent 160 billion dollars in gold supporting it. The KGB Russia is in trouble.