Everyone raves about how a weak $aud helping AUS exporters. Russia oil production is on par with Saudi's according to the latest BP stats. Also with the Ruble sitting at 46:1 usd the POG has gone nuts .. in rubles.
If Russia was smart (and we would be wiser to think they are), an oil for gold program would circumvent anything on a currency basis regardless what the ruble does. If they are still trading oil for USD anywhere then the exporters bonus is working a treat. They are not the Weimar by a long stretch since they have complete energy independence.
We are looking at one of the seats of aristocracy. Somewhere in all this are historical roots that go back a few years IMHO.
Anyhow, has anyone seen the dow/gold ratio lately. In log, it is right on trend. Makes for an interesting December for what it is worth.
