Oil, the Russian Ruble and rapid wealth transfer Wealth is transferring out of the hands of the Oil exporters and in to the hands of the Oil importers

Oil, the Russian Ruble and rapid wealth transfer Wealth is transferring out of the hands of the Oil exporters and in to the hands of the Oil importers. The top six importers being the US, China, India, Japan, South Korea and Germany. Australia being 18th on the list as a net importer. The US dollar is buying 42% more Russian Rubles today than it was a week ago. Russia is in a currency crisis of mind blowing proportions and on the verge of Economic ruin. What I have previously posted about is the carnage in the high yield debt market of Energy companies in the US. This markets liquidity is being tested to the extreme, with the sell button being firmly pushed as the likelihood of bankruptcy in highly indebted US energy companies grows ever stronger with Oil hitting $54 a barrel earlier today. Read more... (VIEW LINK)