Russia is confronting the USA, in economic terms like never before, although De Gaulle did have a nibble
at President Nixon.
As the most excellent Fortune article
already posted analyses:
Oil sales in strong $, and expenses
in devalued roubles
Classic currency devaluatiomn and
consequent internal economic revival etc.,
to the conclusion that "Russia is far from down for the count".
But there is also the gold challenge.
Effectively Russia by accumulating gold
reserves is confronting the very paper
on which it is written "In God We Trust".
Further Putin's relationship with Shevkunov
(as posted before: FT & WSJ qv) does remind one of Emerson in his essay on Compensation:
that "the dice of God are always loaded".
Gold (& oil) prices are fickle.
The yellow & black craps table is awaiting the dice
to be rolled.
There is an exciting possibility of
an incredibly high roller ON the margin.
The Russians are positioning to gain a significantly leveraged collect.
