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: Paul Berliner who wrote (866)	12/4/1998 2:42:00 PM
From: Rob Shilling	Read Replies (1) of 1301

The ruble is dropping, the same ol' story is printed every time it drops. At least this story wrote what is implied in every other story -- they think the ruble is worthless and has no value (ruble between 6 and 1000 quote). It is not surprising the ruble is dropping. Brent oil is down 4 buck from 14 in 2 months, there was $3 billion in foreign debt paid or to be paid this quarter. What is not mentioned is that Russian oil companies get more profitable as the ruble falls, and that the "terrible Russian economy" has a "whopping deficit" of under 3% right now. Gee, Brazil has a deficit of 9% and they just got gobs of money from the IMF. I am waiting for the oil price. When Brent was at $14 the central bank reserves were increasing $500 million a week.

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