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One thing Russia didn’t have to contend with previously
Posted by: McQ on Friday, August 22, 2008

Given the points that Ralph Peters makes about the West and Russia, there is one new aspect of this old game that Russia didn't previously have to concern itself with:
Russia has seen foreign reserves decline, a sign that the market is more nervous about investing in the region since the recent conflict in Georgia.

Central Bank figures show reserves were sharply down in the week ending 15 August, marking a fall of $16.4bn (£8.8bn) from $597.5bn a week earlier.

[...]

According to the Financial Times, the latest drop in capital reserves is the largest "since comparable figures began" in 1998, though similar funds were taken out during the currency crisis.
That's the market, independent of the diplomats, reacting to bad behavior.
 
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Rubes with rubles rub the markets...I can’t think of any more "rub" words that fit. Rubbish, maybe?

Putin has said that the disintegration of the Soviet Union was the greatest geopolitical catastrophe of the 20th Century, or something along those lines.

From a certain point of view, he’s right, but the world has moved on. And we miss the Ottoman Empire too, Vlad!

So, Russia has the unique experience right now of being simultaneously in both a post-catastrophic period and a pre-catastrophic period.
 
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Moscow Exchange is 50% oil stocks and 20% mining. Oil and metal prices are down.
 
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