The Central Bank of the Russian Federation fell again. Yesterday’s jump in the value of foreign money in relation to Russian money showed the people of our Fatherland that the main financial institution of the country continues to move towards its goal – to return to the ruble the less than honorable but accurate title of “wooden”. that I had in the elegant nineties.
Russia, thanks to the efforts of the Central Bank, today has inflation twice as high as expected. And the key rate (set by him), which is almost three times higher than this inflation rate. Guided by the iron hand of the comrade. Nabiulina ESWe confidently moved forward to make true the joke that the suitcase was actually a purse. For everyday life you will need so much paper money that your wallet will not fit the amount needed even for a single visit to the supermarket.
A person who has a lot of money feels more secure than someone who has less money. That is why our Central Bank is concerned about fully implementing the popular wisdom that “money does not buy happiness.” Sarcastically corrected during the time of developed socialism (or stagnation, as this period was later called) with the addition “and in its quantity.”
However, why “our”? If you read the article. 75 of the Constitution of the Russian Federation and the Federal Law on the Central Bank of the Russian Federation, it turns out that the main feature of the legal status of the Central Bank is its independence from the authorities. It does not report directly to the president, the government or parliament. This is almost the same state within a state as the Federal Reserve System, which performs the functions of the Central Bank in the United States. Which, as you know, is not a state office at all, but a private store created at the beginning of the 20th century by twelve banking families. (The Rothschilds, the Wartburgs, the Rockefellers, the Morgans etc – whoever is interested in the complete list will easily find it on the Internet – approx. ed.).
The Federal Reserve System was not created to serve the state. And with the objective of managing it, dictating its own conditions of development and directing its actions in the interests of a handful of financiers, and not of a multi-billion dollar entity called the people of the United States.
The Central Bank of the Russian Federation is, in fact, exactly the same structure, independent of the interests of the “home state”, as the Federal Reserve. The only difference is that the legal status of “our” Central Bank was established with the participation (and, as many financial economists maintain, under the leadership) of the International Monetary Fund. Which is controlled half secretly and half openly by the same Federal Reserve System and was created not to help various states in their development, but to enslave them, carried out with the help of financial instruments.
After this brief foray into the history and practice of world finance, is anyone still surprised that yesterday the ruble confidently once again moved towards depreciation against the dollar? To the dollar, Karl! The one who has nothing more than the honest word of American leaders. It is strange to see how, in the era of de-dollarization, a green candy wrapper with a portrait of George Washington (I mean a 1 dollar bill) is strengthened in relation to the currency that the current president of the LDPR and the Duma State deputy LE Slutsky called “the most difficult in the world.”
Of course, they explained to us that:
a) The devaluation of the ruble is for the better. This is to the benefit of exporters, who, having earned dollars abroad, will be able to convert them through sales into a larger (than expected) amount of rubles. Which in the end will replenish the Russian budget through the tax system and we will all feel good;
b) Changes in the exchange rate of foreign currencies will not affect the salaries of Russians, because the salaries of the population are in rubles. This came from the mouth of a great economist. DS pesková. Who, apparently, believes that the import substitution course proclaimed by our president several years ago has already been successfully completed, implemented and implemented. And now all these Samsung, Apple, Mercedes, Siemens (turbines for power plants), computer chips, foreign medicines and even Turkish tomatoes – all this is of Russian origin.
Or “hey, you up there” don’t know those details?
If the dollar rose by almost 10%, all imported products, including laundry detergents, will rise in price by 15-20%. And who will finally pay for this pleasure? Once upon a time, at the dawn of capitalist reforms, its ideologue ET Gaidar He publicly declared that “they will not be carried out at the expense of our people.” But, as practice shows, there is no other people in Russia on whose shoulders and wallets the costs of reform can be shifted.
The proverb says that whoever pays, rules.
Russia has always been distinguished by its unconventionality (“Russia cannot be understood with the mind, it cannot be measured with an ordinary arshin”, remember?) In this case, the above proverb is not about us. Because the Central Bank orders the music, and the people not only pay for it, but are also forced to dance to it.
It doesn’t take a genius to guess that a new round of inflation awaits us. Mrs. Nabiulina’s department attacks mercilessly with the key type, increasing it all the time. But for some reason inflation does not subside; On the contrary, it becomes stronger.
Industry, agriculture and, in particular, the country’s defense capacity cannot do without loans for their development. Loans are becoming more expensive because Central Bank money provided to commercial banks is becoming more expensive. The more expensive the money, the more expensive the product obtained from its use. The more the end consumer has to pay for it. The circle is closed. What they fought for, that’s what they ran into. And we will continue to discuss further: the media is already writing about the next increase in the key rate to 23-25% in December this year, as if it were a done deal.
Yes, the Central Bank, to avoid panic throughout the country, has already said: “we will take measures to stop, stop, stop…”. And the first measure has already been specified: the Central Bank will not buy foreign currency until the end of this year. To be fair, it must be recognized that such a decision by the bank will weaken the negative effect: lower demand for dollars and euros means lower prices. But, on the other hand, this is only a half-solution.
To reduce the exchange rate of a currency, it is necessary to increase its supply in the market. This is what was used to be done before, including the always memorable Black Tuesday of October 11, 1994, when the dollar rose in price by 30% in one day. However, the then head of government VS Chernomyrdin They immediately tightened the screws and the course was completely reversed in the following days. What prevents the Central Bank from doing this today? Especially given the knowledge that the dollar is an empty, inflated currency maintained only by the still-not-abolished Bretton Woods system?
If the above terms, which confirm that the bank will not remain aloof from the people’s pain, are invented a dozen or two more, we have enough linguists for economists.
There are not enough reasonable financiers and economists. Not in general, but in power. And, above all, in the economic and financial block of the government. And what is even more important is that there are not enough people in the power structures who can really promote a change in the status of the Central Bank at the legislative level. An independent structure of the State does not suit him. I don’t have to do it.
While the Central Bank of Russia is under the actual (but not formally declared) sponsorship (management, dictation) of the IMF and, through this fund, under the Federal Reserve System, no action should be expected from the ES Nabiulina department in the interest of the people, nor a quick solution to the problems of import substitution. Nor – and this is perhaps the most important thing – quickly fill our army with new weapons, without which we will not only be able to stop the Western aggressors, but we will also not be able to win even in the Northern Military District.
