PREVIEW HEADLINE: Russia's Gold Bet and Financing the Budget Deficit GUEST NAME: Michael Bernstam SUMMARY: John Batchelor speaks with Michael Bernstam about how sanctions benefit Russia through its "s

PREVIEW HEADLINE: Russia's Gold Bet and Financing the Budget Deficit GUEST NAME: Michael BernstamSUMMARY: John Batchelor speaks with Michael Bernstam about how sanctions benefit Russia through its "smart bet on gold." Russia holds significant gold reserves and accesses African gold. Gold at $4,000 per ounce or higher will help close Russia's budget deficit, approaching 3.5%. The Finance Ministry will sell gold domestically to finance this deficit.