FTMDaily News Update – What’s Behind Russia’s Dramatic Economic Rise?
In 2010, the Russian MICEX Index has returned over 22%. And now in 2011, the index is already up 15%.
(In contrast, China is up only 5% so far this year. Brazil is down around 2% for the year while India has lost 10% so this year.)
So what’s behind Russia’s recent and dramatic rise?
Secret Iran Gold Holdings Leaked
According to a Wikileaks cable reported on by the Financial Times, Iran has been cutting its exposure to the U.S. dollar and has been secretly making large gold purchases.