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                <text>Cathedral in Moscow</text>
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                <text>The Roman Catholic Cathedral in Moscow. The Catholic Church is not interested in "poaching" the Orthodox faithful in Russia from their Orthodox congregations, but rather in preaching the Gospel to unbelievers in Russia. Despite bouts of intense persecution, the Catholic Church in Russia is now growing rapidly. Unthinkable under the Soviet years, they now even use beautiful buildings like the pictured cathedral.  The upgrading  in the administrative structure of the Catholic Church in Russia  helped to contribute to the construction of buildings like this, but it also caused intense controversy in the earlier part of the last decade. The fact that this controversy seems to be cooling down at least somewhat and the Catholics can use this building in peace is a positive indicator for the Catholic hopes of reconciliation.  By their particular presence in Moscow, home of the Patriarchate of the largest Orthodox Church, they hope to work to narrow the Great Schism of 1054 that separates Western Christianity from Eastern Christianity. </text>
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                <text>Picture from Rzhevsky, Sergei. "Picturesque Catholic Cathedral of Moscow City." 11 January 2014. Accessed 4 May 2014 &lt;http://russiatrek.org/blog/photos/picturesque-catholic-cathedral-of-moscow-city/&gt;.</text>
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                <text>2014</text>
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                <text>Paul in Damascus</text>
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                <text>The Apostle Paul preaching in the synagogue of Damascus. Paul was a Jewish rabbi and persecutor of Christians until he became a Christian. While before this point all of the Christians were of Jewish background, God sent Paul to preach the Gospel to the Gentiles. It was Paul who set out the theology that Jews and Gentiles who believe in Christ as their Lord and Savior are equal in the eyes of God, "for God shows no partiality." (Epistle to the Romans, 2:11) Paul preached this message of righteousness by faith throughout the Mediterranean, persecuted by Jews and Gentiles alike. Besides his preaching, he expounded this message in writing in several of the books of the New Testament (Epistles to the Romans and Galatians, in particular). If even the Jews, who were originally the sole inheritors of the promises to God, are no longer exceptional, then how could the Russians be?</text>
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                <text>Drovdahl, Robert. "Close to Corinth." Accessed 4 May 2014 &lt;https://spu.edu/depts/uc/response/new/2012-spring/bible-theology/close-to-corinth.asp&gt;. (image)</text>
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                <text>c. AD 35</text>
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                <text>Our Lady of Fatima</text>
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                <text>In 1917 in Fatima, Portugal, accompanying a miracle that was seen by 50,000 people, three young children, including Lucia de Jesus Santos, saw  several apparitions of the Virgin Mary. One of the messages was a vivid vision of hell. Another of her messages of the Virgin was that the Pope needed to consecrate Russia to her Immaculate Heart, and then there would be a period of world peace and Russia would be converted. On the other hand, if there was no such consecration, then "Russia would spread her errors" and there would be war and persecution of the Church. The Pope issued several consecrations of the entire world to Mary's Immaculate Heart over the decades, and eventually Russia in particular was consecrated in 1952. Although there is still some controversy over whether the Pope fulfilled the specific conditions, Sister Lucia says that Russia was indeed consecrated in a valid way.</text>
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                <text>"Fatima: A Grace For Mankind." Accessed 4 May 2014 &lt;http://www.ewtn.com/fatima/&gt;.&#13;
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Mauriello, Matthew R. "Our Lady of Fatima." April 1999. Accessed 4 May 2014 &lt;http://campus.udayton.edu/mary/meditations/Apr99.html&gt;.</text>
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                <text>Neatline map sample</text>
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                <text>This chart shows the  yields (on an annually adjusted basis) of Russian short-term, ruble-denominated bonds, called GKO's. During the mid-90s, foreign investors poured money into GKO's driving yields down from over 100% in 1995 to as low as 17.2% in early 1997. In 1998, when foreign investors realized the dire fiscal position of the Russian Federation, they started to repatriate their assets, driving the GKO yield up to new highs. This chart also shows how quickly the Russian government was able to issue new GKO's after the 1998 default, and at lower yields! Yields on these new GKO’s started at 17% and by 2004 dropped to only 2.4%, reflecting foreign investors perception of almost no risk in these bonds. In 2004, the Russian government stopped issuing GKO's because it no longer needed to borrow money (due to its large fiscal surplus).</text>
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                <text>Hunter Fortney</text>
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                <text>"Russian Monthly Interest Rates," Econ Stats, accessed May 1, 2014, http://www.econstats.com/r/rrus__m2.htm. The data originally comes from the Russian Central Bank http://www.cbr.ru/eng/statistics/print.aspx?file=credit_statistics/interest_rates_10_e.htm&amp;pid=cdps&amp;sid=svodProcStav.</text>
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              <text>online map</text>
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                <text>This is a graph of the nominal ruble exchange rate over time. The ruble starts at the strongest level and depreciates over time.  When the ruble was first allowed to float in 1998, it depreciated by 75% before stabilizing. The ruble depreciated again by almost 30% during the 2008 financial crisis. Besides those two sharp depreciations, the ruble has been fairly stable. </text>
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                <text>Russian Ruble-Denominated Corporate and Municipal Bond Yields</text>
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                <text>This chart shows the yields of Russian ruble-denominated corporate and municipal debt. Both issuances started around 2003. From around 2003-2008, yields on municipal and corporate bonds declines by almost 50% from almost 12% per year to around 6% by 2008. The yields spiked during the global financial crisis of 2008, when foreign investors retreated from Russia and other emerging markets for safer locations. After the crisis subsided, foreign investors displayed their renewed faith in Russia by, once again, accepting lower yields.</text>
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                <text>"IGRUSMD vs. INRUSXD," Global Financial Database, accessed April 28, 2014, https://www.globalfinancialdata.com/gfdplatform/Analytics.aspx.</text>
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                <text>This chart shows the yield of the 10 year ruble denominated bond. The yield on this bond spiked during periods of uncertainty such as 1998 and 2008 and declined in periods of optimism. The yield was particularly low between 2003-2008. </text>
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                <text>Hunter Fortney</text>
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                <text>"IGRUS10D," Global Financial Database, accessed April 28, 2014, https://www.globalfinancialdata.com/gfdplatform/Analytics.aspx.</text>
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                <text>4/28/14</text>
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                <text>Domestic  Ruble-Denominated Debt</text>
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                <text>This is a chart of the ruble denominated debt in Russia. It includes sovereign, municipal, and corporate debt. The scale on the right is billions of USD. The large run up in 1998 is of sovereign debt, which goes back to almost zero when the Russian's default. The vast increase after 2004 is driven by  corporate and municipal debt. For example, the amount of ruble-denominated corporate debt, skyrocketed more than 50,000% from 2002 to 2008.  </text>
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                <text>"DBDRUSQ," Global Financial Database, accessed April 27, 2014, https://www.globalfinancialdata.com/gfdplatform/Analytics.aspx.</text>
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                <text>Hunter Fortney</text>
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                <text>Russian Bond Certificates </text>
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                <text>This is an image of various Russian bond certificates over time. After purchasing a bond, an investor would receive a certificate like this. The image includes bond certificates issued by the Imperial government, the Soviet government, and by the Russian Federation. The blue and green bonds on the right hand side are issued by the modern Russian Federation and are similar to the certificates of the ruble-denominated bonds discussed below.</text>
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                <text>"Lot#931 Foreign Banknotes," accessed May 1, 2014, http://stampcircuit.com/Auction_Items/3465238?page=37.</text>
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                <text>Stamp Circuit Philatelic Services</text>
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