While the United States has been running a speculative attack on the Russian ruble, Russia likely is running a more subtle attack on U.S. dollar hegemony by putting a bid under gold, Doug Pollitt of Pollitt & Co. writes in the Toronto brokerage firm's market letter for January. Pollitt also notes the complaints of Comex metals traders about "spoof" trades driven by computers, the sort of practice that would have driven human traders from the floor in the old days. With Pollitt's kind permission, his January letter, titled "Vlad in the Machine," is posted in PDF format at GATA's Internet site here:
http://www.gata.org/files/PollittMarketLetter-01-2015.pdf
