12-11-2008, 09:27 PM
<b>Russians Buy Jewelry, Hoard Dollars as Ruble Plunges </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->With the specter of the 1998 debt default and devaluation in mind, Russians withdrew 355 billion rubles ($13 billion), or 6 percent of all savings, from their accounts in October, the most since the central bank started posting the data two years ago. Foreign-currency deposits rose 11 percent. <!--QuoteEnd--><!--QuoteEEnd-->
Grim trend in Russia. Oil price at $20 can destroy lot of oil based economy.
Grim trend in Russia. Oil price at $20 can destroy lot of oil based economy.