Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.

US government. The substantial part of about 600 bln $  in Russian foreign reserves and stabilization fund is invested into t-bills (USG debt) and also into Fannie Mae (propping US housing market).

Russia sells oil, gets unneeded money which free marketers in economic block are saying is too risky to spend inside Russia and lends the money to the USG so that USG can spend more on Georgian arms.

by blackhawk on Fri Aug 8th, 2008 at 06:24:51 PM EST
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