Russian central bank admitted that they would be increasing their gold reserves from around 492 tonnes to 1200 tonnes. This looks much more clever than burning their reserves while fighting against ruble decline. If I were a banker, I'd turn dollars into gold. Why is US dollar so strong? Ask the bankers. They always do crazy things.
Now my country is being attacked by big investment banks. This looks quite ridiculous but it's real. Everybody is working hard: media, rating agencies and pirates. No holds barred.
OK, I have to live with it so I keep some gold and foreign currencies (euros and Swiss francs). I don't quite get it why Poland is doomed whilst we don't print funny money and we had positive GDP in the last quarter of 2008. Well, maybe that's the reason.
Saturday, February 21, 2009
Russians buy gold. What about you?
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