by Dave Kranzler, Inevstment Research Dynamics:
I guess Obama’s economic sanctions and the crash in the price of oil isn’t affecting Russia’s economy the way the western media propaganda would have us believe:
It’s interesting that Russia is still buying because it’s economy has taken a knock from Western sanctions and from lower oil prices,” David Jollie, an analyst at Mitsui & Co. Precious Metals Inc., said by phone from London. “This sends a very bullish signal to the gold market.” (Bloomberg article link)
Everyone remember when the rumors were floated last fall that Russia was selling gold to raise money because it was getting squeezed from sanctions? As it turned out, Russia added a significant amount of gold to its reserves at that time.
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