[MONEY] - Saker: Russia still under IMF/Fed thumb - [PEACE]
Zenaan Harkness
zen at freedbms.net
Tue Jan 7 20:50:47 PST 2020
One wonders at what point Russia/ Putin will feel or be strong enough
to reclaim their money printing from the Fed/ IMF/ USA:
Why Did Russia’s Central Bank Change Their Eagle Emblem?
https://thesaker.is/why-did-russias-central-bank-change-their-eagle-emblem/
...
we need to change the financial policy of the Central Bank. This
is the most important. It is necessary to print as much money as
we need for our economy with 0 interest rate. Issuing money needs
to be as a result of refinancing of commercial banks or backed by
state bonds, as it is done in USA and the EU. It should not be
linked to the dollar as it is now. Right now, the interest rate
is 6.25%, although, it has been declining lately. However, it
doesn’t mean much for Russia’s economy.
First of all, if it is not going to be refinanced, then there is
no difference on what the interest rate is, even it would be a
zero. Second of all, prior to 2014, the interest rate was also
declining, then it flew up to 17 %. It was necessary during the
time to bring the interest rate down, so for a very short period
of time, Russia lost what was gained previously for many years.
...
Russia values her sovereignty, very much, according to Putin.
The fundamental though - the right to print her own fiats (or gold
and silver backed coins), requires a referendum, since Russia's
current referendum was dictated by Westerners (Fed/IMF shills).
Perhaps that day comes closer...
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