Wednesday, March 30, 2011

Russian Commodities Billionaire Blames Quantitative Easing for Increase in Commodity Prices

Bloomberg's Michael Serrill interviewed Bloomberg reporter Stephanie Baker about her recent story on the Russian oligarch Oleg Deripaska.

It's a fascinating interview. Baker at one point notes that Deripaska acknowledges that part of the climb in commodity prices is because of growing demand from emerging markets, such as China, but blames quantitative easing on a global level as a key reason behind the commodity price inflation.

It should be noted that in the introduction to the interview, Serrill points out the many battles that took place between oligarchs for various resources in Russia and that many were killed. He called this "entrepreneurs battling it out." Last I looked, entrepreneurship was about seeing opportunities on the free market and using exchange to profit.

I'm pretty sure this holds, even in Russia, and that someone who gains by killing a rival should be justifiably be called a thug, versus an entrepreneur.

So forget Serrill's comment, it's Baker who has the real info.  The interview is here.

1 comment:

  1. Pretty sad that a Russian understands what's going on better than the typical American public school / TV-watching retard.