Russian Central Bank Is Hedge Fund

Economy Despite all criticism of Russian Central Bank, Putin still keeps all the Russian liberasts aka Russian traitors as main Russian financial management. How long? Even Security Council was informed officially, to no avail. Why he wants to destroy Russia? Analysts, economists, oligarchs(sic!) writes how bad financial management is in Russia under Vladimir Putin and what? Bugger! Nothing! I’m tired translating “the same” text day by day nowadays.

Deripaska called the Bank of Russia Hedge Fund
From: finanz.ru, Forbes.ru, rusvesna.su, 22 Jan, 2016


(Click to enlarge)

The Bank of Russia has removed itself from solving problems of stimulating growth and behaves like a Hedge Fund, said the President of RUSAL, Oleg Deripaska, on the sidelines of the world economic forum in Davos on Friday. It reports “Interfax”.

“This is our first time in the history of our devaluations since 1994, we devalued without economic growth. We all understand why,” said Deripaska.

According to him, the policy of the regulator is at odds with government policy. “We have more or less reasonable set of measures of the government. Automotive industry – there are 20 events in agriculture the same. But if there is no supply money, the flow of liquidity, no one will be “loading” effectively under the burden of the rate of 20 per cent,” he said.

According to Deripaska, the Central Bank “has done a good job, although we understand that such barbaric devaluation was at the expense of citizens“. Now we need to give citizens the opportunity to earn back your losses, he said.

“It isn’t fair – people worked, saved, bought the assets, and time is not worth anything, no apartment, no car, no equipment. You should at least be given the opportunity to work out, but work out does not yield with credits having prohibitive rate,” said Deripaska.

You have to understand that lack of action by the government cannot compensate for the tough policy of the Central Bank, said the billionaire. “I don’t see what else can be done by the government. Further – it is only the adjustment of the system of economic policy. I think this President will do (something), making conclusions from the situation in which we find ourselves. The rejection of capitalism, the equality of all forms of ownership, the reform of the judicial system,” he said.

Deripaska also complained because of the lack of competition in the banking market. According to him, two of the state Bank is effectively “filled the entire economy.” “Of course, they are doing a good job, their results are quite good. But there should be competition. How the two subjects might compete? And at this moment they get the remaining private banks knock-outed. Then let the banks create. This is because the state has established the savings Bank. Now suppose that the Central Bank will do, if he wants an efficient market offers, let them create, for example, another four banks,” suggested the businessman.

According to him, the leadership of the Central Bank lacks practical experience in banking business. “All the Deputy chairmen of the Central Bank have “paper” practice. What do they know about lending, for example, in Vladivostok? In our company we have 186 key executives in the company – each with its own production site, where it needs to go at least 4 times a year, whoever he was,” said he.

The publication from the website Forbes.ru

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