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четверг, 27 июля 2017 г.

You whose Wake, Lord center-bankers?

Glazyev assessed the damage from the "reckless actions of the Central Bank" in the 10 trillion rubles
Russia has lost more than 10 trillion rubles due to the policy of the Central Bank to curb inflation. On Tuesday, 29 November, writes in his article, the Russian presidential adviser Sergei Glazyev. Material published on the website of the newspaper "Kommersant".
"The damage from the policy of the Bank of Russia since the transition to inflation targeting has exceeded 10 trillion rubles in terms of unreleased products and three trillion rubles of investments to be done, not to mention the lost jobs and declining all this time, incomes of the population," — said Glazyev.

Central Bank reduces inflation by reducing money supply in this way for the last three years, the Bank of Russia withdrew from the economy more than five trillion rubles, previously issued to refinance commercial banks. "In the future, plans to roll out economy has funds of enterprises and population," — said Glazyev.
He calls the activity of the regulator "unprecedented recklessness". When the head of the Central Bank contends that the free floating exchange rate is intended to mitigate external shocks to the economy, "the fading sense of reality", said the Advisor to the President.
The introduction of a floating ruble exchange rate has made it the object of manipulation by speculators. "That is why, having secured the world's currency reserves and a positive trade balance, the Russian monetary authorities made the unprecedented collapse of the exchange rate and its volatility record, including in the oil — producing countries", - said the economist.
22 Nov Glazyev compared the state of the Russian economy with myocardial infarction.
It is expected that this year inflation will not exceed 5.8 percent, while the economy will shrink by 0.6 percent.
Russia switched to the floating exchange rate of the ruble in late 2014 amid a sharp fall in oil prices. At the same time, the Bank of Russia raised its key interest rate to 17 percent.
In the course of trading immediately after the relevant decision, the Euro broke the mark of 100 rubles, dollar — 80. This day became known as "black Tuesday". Since then, the controller successively reduces the key rate. Its current level of 10 per cent.

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