Investment in Russia and Eastern Europe Message Board

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Strategies & Market Trends : Investment in Russia and Eastern Europe

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To: P.T.Burnem who wrote (679)	9/16/1998 1:12:00 PM
From: Rob Shilling	Read Replies (1) of 1301

Yep, somebody manipulated the ruble rate. Why not, the western currency traders shorted the ruble until the Central Bank broke. If Jimmy Rogers can make money by going on CNBC and telling the world he is short the ruble so as to get everyone to gang up on it, why can't Russian banks do the opposite ??? If Tuesday's ruble rate was artificial, where were all of the hedge funds and currency traders that would normally sell the ruble when it is "artificially" too high ???? There was absolutely nothing preventing them from doing this. It is a market you know. I guess they didn't have time to collaborate!!

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