Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Alter Kaker; Celtic Conservative

The ruble was the world’s worst performing major currency last quarter, down about 15% in a quarter - well beyond what other petro economies suffered. Hydrocarbons are huge for the Russian economy, but sanctions and higher risk perceptions are having a clear effect on their own.

One effect of sanctions, is that oligarchs are stampeding for the exits, to shelter their assets overseas, before they get blocked or confiscated in an escalating round of sanctions. So they are selling rubles to buy assets in other currencies.

A lot of wealth is concentrated at the top over there. Moscow has more billionaires than any other city on Earth, even though their total economy is much smaller.


27 posted on 10/06/2014 10:45:39 AM PDT by BeauBo
[ Post Reply | Private Reply | To 6 | View Replies ]


To: BeauBo

You mean they have income inequality in Russia? What about North Korea?


46 posted on 10/06/2014 6:43:24 PM PDT by 1010RD (First, Do No Harm)
[ Post Reply | Private Reply | To 27 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson