Self-Finishing Russia – A True Financiel Suicide!

Mikhail Delyagin: CBR publicly finishes ruble welcome by applause of cheering liberals and speculators

The Western financial lollipop for Putin and Medvedev is so sweet they will never ever get rid of the form of modern noose. Well, it’s up to them.

November 5, in one day, the official dollar exchange rate grew by almost 2,44 ruble and the Euro – more than 2,90 rubles. However, last week was observed, on the contrary, the decrease of these courses almost 1.5 and $ 2, respectively, but this was no more than an episode (probably caused by a leak of insider information about the intention of the Bank of Russia to increase the interest rate from 8.0 to 9.5 per cent, one of the largest, and possibly state actors).

In General, since the beginning of July, when began the current round of devaluation of the ruble (the last ended in mid-March), the dollar rose more than 1.3 times, and the Euro is more than 1.2 times, which is comparable with the collapse of the ruble in late 2008 – early 2009.

That’s just no worsening of the global crisis, like then, not yet: it is the role of a crazy liberal policy of the Bank of Russia.

Mikhail Delyagin said: “by Itself, the devaluation of the objective due to: due to rampant corruption and arbitrariness of monopolies, in fetters of colonial agreements on accession to the WTO and under the burden of a liberal Medvedev government, fundamentally refuse development, devaluation is the only way to avoid the onset of the economic downturn this year.

However, its positive effect inevitably weakens, and destructive – is growing.

In addition, the Bank of Russia conducts its most destructive form, the maximum stretching it and thus creating a maximum panic in the interests of Russia, but speculators of all stripes.

The management of the Bank of Russia knowingly waive their inherent responsibility for the stability of the foreign exchange market, and, in the style of the 90’s playing the fight against inflation (which in terms of inflation, caused by the arbitrariness of monopolies, has the same attitude as the gynecologist to headaches), maximum tightening fiscal policy, essentially blocking the last opportunities for economic development.

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