In case of Russia, the reason is plain to see – in 5 years, oil has gone from about $30 to $96 per bbl. If receipts go up by more than 3 times, asset prices are bound to inflate to absorb all that flood of petrodollars. Every time we fill our SUVs, we inflate the Russian bubble some more; our hardship translates immediately into their prosperity. Another commodity is Gold – has gone up from under $300 to over $800 per Oz. Russia produces large amount of gold.
