While drinking my morning cup of coffee in Russia. I was doing some research into the Ruble and the Dollar. It seems that after the beating the Ruble took and the Western media acted like the Ruble was a doomed and dying currency. We are seeing a stabilization of the Ruble in Russia.
The dollar is dropping daily now and is back to what the rate was when I came to Russia. So that did not last long.
I kept my money in Rubles and kept my trust in the bank I use. As the doomsday reports rolled out of the Russian press like Chicken Little screaming about the sky is falling. I just kept my money in Rubles.
Normal Russians did not get very excited about all the hoopla because from what Svetlana says, Nothing could be as bad as the collapse in 1998. I do not know, I was not here but Svet was and she and her Mom lost a l0t during that time.
If people would support the currency where they are then I really think that money would be much more stable but what I see is that people who are rich make money from betting against money. (Hedging I think it is called?) Sad group of people…
Kyle & Svet
comments always welcome.