The Phaserl


China Offers to Bail Out Russia

by Jason Simpkins, Outsider Club:

It looks like Vladimir Putin’s overtures to China are paying off.

Two Chinese officials have offered to help Russia stabilize its currency following the ruble’s precipitous decline last week.

“If the Russian side needs, we will provide necessary assistance within our capacity,” said Chinese Foreign Minister Wang Yi.

For now, the situation seems to be under control, as Russia has taken drastic action to brace the ruble’s slide. The central bank raised its key interest rate all the way to 17% and announced it would sell of $7 billion in foreign currency.

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2 comments to China Offers to Bail Out Russia

  • Frank Zak

    Silver over 40 years has bottomed at a 79 to 85
    gold to silver ratio 83% of the time. 82-83 are key.

    Gold at $1140 would put silver at $13.75 to $13.90
    with 82-83.

    So far it has hit 80.21 ratio when silver hit $14.15 in the Sunday
    night session with gold at $1135 couple weeks ago.

    Remember silver topped months before gold in 2011 with
    the CRB.

    Silver could bottom before gold this time.

    We have officially hit the kill zone to buy.

    It would be nice to see one more shake out during Comex
    hours to hit 82-83.

    This is good news for silver bugs.

    • Eric

      I don’t know why everyone wants it to go up. I would love it if it stayed at these prices for the next 2 years because I sure don’t want to be paying 2000+ for gold and 50+ for silver.

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