Hi again Biggle’s and all,
I wonder if your mate Mr Obama thought through the list of unintended consequences as he pushed for a lower oil price. Single handily he has just about destroyed junk bond financing for any new US oil drilling projects. I’m not sure making the AK-47 around half its former price was all that smart either, there cheaper to buy now than nail guns.
Didn’t NASA spend millions of dollars developing a ball point pen to work in space whilst the Russians with their first man in space just used pencils?
The EU ranks as Russia's number one trading partner, accounting for almost 41% of all trade.
http://www.bbc.com/news/world-europe-26436291
I don’t believe Russia will sell any Gold; however, if they did decide to sell any of their Gold at least they hold it in their own possession. Now that might be a different story for Germany!
“Russia has been the largest official buyer for years,” Eugen Weinberg, the head of commodities research at Commerzbank AG in Frankfurt, said today by e-mail. “It’s a part of its long-term strategy of amassing gold reserves and diversifying it foreign-exchange reserves.”
“Russia mined 248.8 tons of gold last year, ranking it as the third-biggest producer, behind China and Australia, according to GFMS, a research unit of Thomson Reuters Corp.”
So now Russia the 3rd largest Gold producer has its labor cost and domestic inputs slashed by around 50% I reckon they could afford to sell Gold but seriously doubt they will.
http://www.bloomberg.com/news/2014-...old-reserves-by-400m-to-highest-since-93.html
If you need any more reading I suggest this little fairy-tail from the FOMC gang in happy-land.
No wonder the roses grow so well in the USA given the amount of B.S. they spin out!
http://www.federalreserve.gov/newsevents/press/monetary/20141217a.htm
Or for those with active brain cells that prefer fact over official fiction try this one.
http://www.telesurtv.net/english/op...-Be-Just-Around-the-Corner-20141020-0017.html
Cheers and very best regards: Andy