Despite Treasury Secretary Jack Lew's insistence that "costs" have been imposed on Russia:
- *LEW SAYS SANCTIONS IMPACT SHOWN IN RUSSIAN STOCKS, FX RATE
It appears from the chart below that - once again - for the elites "when it gets serious, you have to lie."
(of course, those wishing to split hairs might say that Russian stocks collapsed before this... but that is not what Lew said - he said Sanctions impact was evident in stocks... and that is not true - the weakness before was EM crisis and war concerns)
and if it's not stocks then...
- *LEW SAYS SANCTIONS CAUSING 'REAL PRESSURE' ON RUSSIA ECONOMY
We are sure that US will hockey-stick but Russia won't?