Russian Economic Department
Glazyev: Russia has around $500 billion are in the offshore
From: politikus, Yesterday, 20:17
– “ROSTOV-ON-DON, April 18. /Corr. TASS Dmitry Bulanin/. Russia has nearly $500 billion is in offshore and the money, including, ensuring the reproduction of the Russian economy. This was reported by Advisor to the President of Russia on regional economic integration Sergey Glazyev, in his speech at the Council on economic development in Rostov-on-don.
“We are extremely dependent on opsonization. Almost in the offshore we have half a trillion dollars, which ensure the reproduction of our economy. Another half-trillion taken out forever, apparently. They do not return into economic circulation. But, nevertheless, 50 billion annually from offshore to us and flows back” – said Glazyev. He noted that while the sanctions have not affected Russian offshore companies, but, in his opinion, it is a matter of the nearest future. “If the money will be frozen, it will be a very serious blow to the reproduction of our economy” – said the presidential adviser.
When will this circus end?
From: news-front.info: Yury Selivanov
– “Speculators, many of whom come from the U.S., increased trading currency on the Moscow exchange within two years fivefold to 100 trillion rubles in the quarter, which had a serious impact on the ruble, said the adviser of the President of Russia on regional economic integration Sergei Glazyev. “40% they (speculators) come to us from America. The share of the Russian speculators to within 10%. Overall, the proportion of foreigners in the financial market — about 75%. We are here for these international speculators staged destabilization.And has created a real Klondike on the Moscow exchange, where possible, without risking anything, to get 80% of the profits by manipulating the rate and total amount of that income exceeds $ 50 billion, obtained through manipulation of the exchange rate of the ruble,” — said Glazyev.
Opinion: Stonerolling country naturally strong for two years, actually — for the pleasure of a handful of foreign, mostly punters. And it’s called the world’s most advanced economic system of the free market?! Do not make laugh my Slippers! Nothing more wild and primitive even impossible to imagine. It is, in essence, the economy of the Neanderthal level, which is manifestly incompatible with the level of technology and organization of the society of the 21st century.And if someone seems that this is not so and replace this primitive chaos simply does not exist, then this only confirms how hard we “rivet brains” corresponding oracles of this chaos. Eyes are one of the few who opposed this diabolical “mainstream”. But his own status following the recent clarification of the Kremlin that Glazyev’s statements do not reflect the official point of view, is becoming more uncertain. And I’m afraid that the status of Russia itself from such uncertainty Glazyev and his supporters, also pretty sags.
Nabiullina: the Printing press can return Russia to the Soviet times
From: politlife, 19.04.2016,
– “Unsecured issuance of money, or in other words the start of the printing press in Russia will not lead to increased lending to business, and to a surge of inflation; this policy is possible only if the country will not remain commercial banks and the only credit institution, as the Soviet times, will be the Central Bank, said Tuesday the head of the Bank of Russia Elvira Nabiullina.
“The credit issue is unlikely to lead to increased lending and will lead to completely different consequences — for inflation, outflow of capital,” Nabiullina said on the air of “Russia 24”.
“Attempts by such credit emission to spur economic growth in other countries — and we see it, this experience refer our opponents, the program of quantitative easing — if we analyze these quantitative easing program, they gave a great effect from the point of view of stimulating economic growth and stimulate lending. Stimulate economic growth, encourage lending.By the way, they were not focused on it, and above all to increase inflation, because these countries are likely to face the threat of deflation and the main objective was to increase the inflation”, — said the head of the Central Bank.
“That’s misrepresentation when they say that you can make a target credit issue and not get inflation. I guess it’s possible in that system, when we don’t have commercial banks and the Central Bank will directly lend to enterprises, as it was in Soviet times”, — said Nabiullina.
The debate about whether or not to run the machine for replenishment or support the economy, has arisen in Russia on the background of the threefold fall in oil prices, and the most severe in 18 years of the recession.
Lawyers equity concepts are members of the “Stolypin club”, including presidential adviser Sergei Glazyev, authorized under the RF President on protection of entrepreneurs ‘ rights Boris Titov and the Deputy Chairman of VEB Andrei Klepach.
They offer sharply change the exchange rate policy of the Central Bank to lower interest rate in 2 times, to 5.5%, and print at 1.5 trillion rubles a year, directing the money in the form of soft loans for the development of industrial production.
President Vladimir Putin on March 1 at the Congress of the chamber of Commerce said that the discussion on the inclusion of the machine is actively in the government. It is attended by Putin’s aide Andrei Belousov, head of the MAYOR and the Finance Ministry Alexei Ulyukayev and Anton Siluanov.
Putin added that “at some point, these offers can be claimed”.
The time has come after 4 days. Prime Minister Dmitry Medvedev instructed the Minister for open government Mikhail Abyzov to create a working group to discuss the programme of the Stolypin club, and to study the possibility of its implementation in one to two months.
In April, during the “Straight line” with citizens, Putin changed the position. He ruled out the use of stimulus measures and denied their statements that the discussion of the issue is in the government.
The printing press in Russia meanwhile is already enabled, remind the experts of the Higher school of Economics. The emission is in the form of manipulation of Reserve Fund: the Finance Ministry changes the stored currency for rubles at the Central Bank, which issues the sum. The printed money goes to the budget to cover its deficit.
With oil at $ 35 per barrel, the state required emission by 2.5-3 trillion rubles a year, according to HSE.
While currency reserves, which serve as collateral for the printed roubles will last at best for two years, after which the issue will be unsecured, and can easily go beyond safe limits.
The problem, according to economists, Economics is “the appetites of the elites” — lobbyists in the state corporations, the defense sector, affiliated with the government of gospodchikov. For them printing the RR machine will replace oil and gas rents to the population such a policy will result in hyperinflation and obnimaet, according to the macroeconomic forecast of the top flight for 2016-20 гг.
From: m-kalashnikov, April 15th, 2016, 02:38 am
– “Repeating, still looked the beginning of Putin’s direct line on April 14, while going on business. And heard from the beginning, what did the rest of the line is a four-hour talk by babbling and cheap show. The President has done a terrific economic obscurantism remark. Showing his complete unity with the floor and shadow Gaidar. As stated by Mr Putin: “the Main thing is not to print money, the main thing is to change the structure of the economy.” The statement which devalues everything. (…)“
BATTLE of ZOMBIES AND CROSSBARS
From: Max Kalashnikov, April 19th, 2016, 10:44 am
– “How to interpret an article by the head of IC Bastrykin? As a sign that today’s miserable, sinking economic began the “epic battle” between liberal zombies and power (siloviki) idiot “crossbars”? “Titanic” struggle of two populations of degenerates, one of whom represents Kudrin, another Bastrykin. But this fight finally drown Russia in a new Cold War. We, the normal people, cannot choose between them. We deal with the full consequences of the degeneration of the “elite” in Russia. (…)“
K. Babkin. Kudrin will write a new economic program for Putin?
From: Max Kalashnikov, April 13th, 2016, 09:50 am
– “He will write this time?
What to be produced in Russia is not needed, but it needs to be imported more migrants here? It was written in the 2020 Program, in which Kudrin was actively involved.
The program is officially under wraps but is quietly being implemented. They raise taxes, dismantle the old Universities, the economy in crisis.
I don’t think Mr Kudrin seriously reconsidered his views. Obviously, he’s going to pack his cannibalistic program in a fresh package.
No, we need to write our own program. Correct. With the New industrialization and multiplying our Nation.
The thesis of this program, I think it is necessary to show already in April.“