Silver as an investment

FSN: Lord Mandelson Sees ‘Looming Nightmare’ for Russian Economy Despite Gas Deal

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

Lord Mandelson warned Russia that the glory days of the energy boom are gone, despite the recent $400bn gas deal with China

by Ambrose Evans-Pritchard, in St Petersburg

Lord Mandelson has told Russia’s leaders in the bluntest terms that their country will be frozen out of the global financial system and face slow economic breakdown unless the Kremlin steps back from confrontation with the West.

“A sense of Russia-risk is crystallising around the events in Ukraine. The great danger is that this negative sentiment will set in concrete around Russia,” he told the St Petersburg Economic Forum in Russia.

“It is the markets that are leading the way, not governments, and they are quickening the pace. This is the looming nightmare for the Russian economy and it will have to be dealt with very boldly by the Russian government. To be cut off from global capital markets is not a good idea,” he said.

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