Friday, October 24, 2008

Russia is also gone

Russia's currency is falling like a brick already at a two-year low despite billions being spent by Moscow to prop it up. Plus the country's fast-shrinking mountains of reserves and oil revenues are threatening to reduce its credit rating within the next week or so which will accelerate the flight from the ruble. Can Putin and his new billionaires rescue Russia or have they already moved their cash out?

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