“Russia is spending it’s gold reserves to do this. They have enough gold for about a year.”
LOL. The West is financing both sides of this, directly on the Ukrainian side, and by greatly driving up the prices of energy and other Russian export products. Idiots. The Russians are probably wondering why they waited so long.
If the West had half a brain, they would have turned the energy taps wide open, but they cannot, given that Greta is now running Western energy policy. The best they can do is make statements and try to work around the edges of what she approves of.
I'll take the other side of that bet. Let's see where XLE is in 6 months.