Russia Archive

China and Russia buying gold

Seems it’s always a central bank story. Goes up when they buy, down when they sell. Furthermore gold buying is supported by how it’s accounted for. That is, it doesn’t count as deficit spending or part of the pubic debt, even though the ‘taxpayer’ has to pay interest on the funds spent, ...Read More

oil priced in rubles chart

Any coincidence that oil priced in rubles hasn’t moved all that much recently? ;) ...Read More

Russia Says Close to Final Stage on China Gas Deal

This is what I’ve proposed the US do with Canada and Mexico- long term contracts for oil and nat gas at ‘fair’ prices would stabilize prices and reduce price disruptions and inflation possibilities of all three economies. Russia says close to final stage on China gas deal By Gleb Bryanski October 11 ...Read More

Russia Continues To Buy Gold

Looks like QE scared Putin into buying gold: Russia Continues To Buy Gold By Rhiannon Hoyle April 28 (Dow Jones) — Russia’s central bank is continuing to make steady gold purchases, while sales by signatories to the third Central Bank Gold Agreement meanwhile remain negligible, the World Gold Council said Thursday. Russia ...Read More

China, Russia quit dollar for transactions

Doesn’t matter, though most everyone thinks it does. What matter is what currency a nation saves in, not the numeraire for transactions. So good this happened, so everyone can get past it and stop worrying about it. China, Russia quit dollar By Su Qiang and Li Xiaokun November 24 (China Daily) — ...Read More

BRICs Add $60 Billion Reserves as Zhou Derides Dollar

[Skip to the end] They don’t like to buy dollars but they don’t want their currencies to appreciate and risk export market share. And Bernanke, Geithner, and Obama want them to let their currencies appreciate to help our exports and ALSO want them to buy dollars and treasury securities because they think ...Read More

Fears rise on Russian foreign debt

[Skip to the end] Yes, the risk of Russian corporate defaults due to governmental difficulties goes with the territory. Fears rise over Russia’s foreign debt by Catherine Belton Feb 22 (Financial Times) — Western bankers are increasingly anxious about Russian companies’ ability to repay $500bn in foreign corporate debt after the government ...Read More

Russian Central Bank spent $58 billion backing Ruble (Update1)

[Skip to the end] Russian Central Bank Spent $58 Billion Backing Ruble (Update1) By Alex Nicholson and Maria Levitov Nov. 19 (Bloomberg) — Russia’s central bank spent $57.5 billion defending the ruble in September and October, Chairman Sergey Ignatiev said. Why would they ‘defend’ the ruble? Maybe they ‘defend’ it selectively, via ...Read More

Re: Russia/OPEC

[Skip to the end] (email exchange) Thanks! it’s all about price setting, as previously suspected. Warren >    >   On Thu, Oct 23, 2008 at 10:09 AM, Scott wrote: >    >   Moving on, we note that Russia and OPEC held high level talks >   yesterday in Moscow as President Dmitry Medvedev met with OPEC’s >   Secretary-General, Abdallah ...Read More

MediaCorp: Russia to visit the Caribbean

[Skip to the end] The last statement is most troubling. Venezuela expels US ambassador, threatens to halt oil trade CARACAS: Venezuelan President Hugo Chavez expelled the US envoy to Caracas late Thursday and threatened to halt crude exports to the United States on a day he highlighted the recent arrival of two ...Read More