Wednesday, November 24, 2010


Amidst the unfolding disaster of North Korea, and the market confusion as the ECB contemplates how to cope with sovereign guarantees of Banking black holes, it is easy to overlook the developing crisis in Russia.

Two stories caught my eye over the last twenty four hours. One is in the FT, showing that Russian capital flight is now touching $3 billion a week.

The other story is in the London Evening Standard and is an update on the terrifying story of how the Russian State stole Hermitage Capital from its rightful owners, and then brutally murdered the lawyer who tried to stop it.

What is particularly significant is the owner of the Evening standard is Alexander Lebedev.

As the next Presidential handover in 2012 draws near it is clear that much is happening in Russia.

The country is becoming ever more unstable. Russia remains on the brink, and may be about to take a big step forward.

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