On Wed, Jan 08, 2020 at 03:50:47PM +1100, Zenaan Harkness wrote: > 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). s/referendum/constitution/ > Perhaps that day comes closer...
