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Bloomberg Lied About the Ruble and Manipulated the Market


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This post first appeared on Russia Insider

Yesterday Bloomberg ran a piece saying that the Russian Central Bank was considering imposing capital controls.

As a result of the story, the ruble came under heavy selling pressure and the central bank was forced to intervene for the first time in months in the currency market.

<figcaption>Bloomberg Has Been Caught Red Handed</figcaption>
Bloomberg Has Been Caught Red Handed

Over-night the Central Bank have not only rubbished the claims as pure lies but have opened an investigation into market manipulation. The Russian government has also come out and said that capital controls are completely off the table, and yet, the western media continues to run stories of how Russia is considering imposing them. 

There was an excellent piece last week by a colleague of mine on this site on why Russia is bringing in new legislation against foreign media

These events as a whole are precisely why a group of us expats decided to get together to start this website.

That CNN simply repeats US government talking points is widely accepted by most people outside the US, and few people (outside the US), pay them much mind, or watch them.

However, misleading news on Russia from the likes of Bloomberg, The Economist and The Financial Times is very troubling because many people view them as legitimate and accurate. Their teams which cover business news in the West are more or less propaganda-free and often extremely accurate and insightful.

Unfortunately the same can not be said for their Russia coverage. 

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