Paper "AMERO" will replace the dollar by spring!? - page 47
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You should not insult Kudrin so much. He kept the fund in US long bonds and therefore almost no losses were incurred. And the fact that the capitalisation fell is not his fault, investors fled Russia like crazy after the war with Georgia. That is why liquidity had to be maintained from the fund. And what about "not building, not investing in technology and agriculture" and so on, what does Kudrin have to do with it, and Putin too - it's capitalism and it's a private business. This is just capitalism and capitalists in Russia - why bother to think about it, we are already well fed...
I completely agree about our capitalists, they are not capitalists, they are just yesterday's lumpen. Capitalists have been breeding for generations.
I don't agree with the rest. Putting money into American bonds means supporting someone else's economy. In Russia, where there is an untapped supply of work, a huge market and an equally unsaturated demand, this is a cuckoo economic program. While Kudrin was investing in US bonds, Russian banks were borrowing dollars from Western banks to lend to the Russian economy. And then, those dollars were used to import all kinds of consumer imports, which ruined their own industry and squandered the credit. When the oil went bust it turned out that there was no place to return the dollars. That is the financial and economic policy of the Kudrin and Shuvalovs.
Investors fled Russia not because of the war, but because of the crisis, not in Russia, but in the West. You have to see the main reasons, otherwise one might say that investors ran away because the autumn had arrived.
In the conditions when no one raised a capitalist of his own, there are only two ways to go to the capitalism: 1. Sell yourself to rich overseas businessmen, which is exactly what Ukraine is doing with success. 2. Not to sell out, to create his own economically and financially strong state, which is what Putin wants to do. The key word here is "home state". As long as the capitalists grow up, the leading role, the role of the main capitalist, innovator and investor, the main organiser of markets and competition should be played by the state. At least as it does in China. The position of "liberals" - once capitalism, then the state is no good, everything in private hands - is the position of half-wits! Imagine a bus with a bunch of people on the highway. They have decided to change the driver, i.e. the economic system. So they grabbed a little boy and put him behind the wheel. He could not reach the pedals, he could not turn a wheel, he did not know the rules, he could not change gear. The only thing he knows how to do is press the horn. How far can we go?
...
With no capitalists of their own, there are only two options for the transition to capitalism: 1. to sell out to rich overseas men, which is what Ukraine is doing with success. 2. Not to sell out, to create our own economically and financially strong state, which is what Putin wants to do. The key word here is his own state....
He may be a thief, but he is his own, Russian, orthodox!
The key word here is the state. As long as capitalists grow up, the leading role, the role of the chief capitalist, innovator and investor, the chief organiser of markets and competition should be played by the state.
I think you misunderstand the role of the state. I think we have been over this.
He may be a thief, but he's Russian, he's Orthodox!
What's Orthodox got to do with it? We don't need any more of this hooray patriotism. Pu has an undoubted merit in preserving the stability of the state - and that is probably the main thing for which he should be respected. The relative economic stability during his rule is rather not his merit.
I think you misunderstand the role of the state. I think we've been over this.
You just think differently...
It is not up to the state to do everything... (like the Communist Party and other USSR crap) the state should just create the conditions for development, especially reducing taxes (even abolishing taxes in some sectors) and so on...
You just think otherwise...
Maybe just thinking...
Answers.
1. For Kudrin, and for me too, 30 years sounds like "never". I'm not Kudrin, I don't have the courage to look 30 years into the future. But I can, once again, propose my favourite game - "Prove it." The topic is "Ameros will replace the dollar by spring." Spring is in full swing. I'm willing to bet real money, say 100 bucks, that there will be no Amero or world currency by spring or summer. If the dollar does disappear, I pay in rubles at today's rate. Accordingly, anyone who brings another confirmation of Amero's proximity to the forum is obliged to accept my wager. Otherwise, it is a bit awkward, one says what he himself does not believe.
2. As has been noted, Kudrin is not an independent figure in Russian politics. He will not determine anti-crisis policy. If Putin said to give 5-7 billion to his friend in the St Petersburg mayor's office, Kudrin cannot say no. The Russian economy itself is not self-sufficient, the banks got extra liquidity instead of loans to the real sector and invested in dollars. Can anyone imagine a reverse situation, with American banks investing in roubles? AIG gave a few measly percent of the money they received as bonuses and they got trampled. Russian banks left everything to the left. Kudrin is doing the little bit that is in his power - he is saving money into the Stabilization Fund, and doing it well. Here he is almost called the enemy of the people - http://www.ej.ru/?a=note&id=8917 - and rightly so to some extent. If he had more power, perhaps he would act differently, but as it is, he acts within the narrow framework established by Putin, Surkov and Ivanov.
But which you didn't bother to read. Once again, Rambler is primary because it happened BEFORE, the news was broadcast on all Russian and foreign channels. The interview with the Vesti is secondary, no one gave it apart from the Vesti. You are twisting the truth again.
I don't care if it went all over the solar system. Does it matter to you what Kudrin said or that it was broadcast by the western media? Here's the whole thing:
The dollar will fall in the next 1-2 years, but it will not fall dramatically. This opinion was expressed by Russian Deputy Prime Minister and Finance Minister Alexei Kudrin, speaking at a press conference in Horsham, England.
"I think there is rather a tendency for the dollar to fall, but it will not manifest itself sharply, quickly, in the short term. This is more likely to be a period of 2-3 years," he said, ITAR-TASS informs. The decline of the dollar, he said, will be at acceptable levels, which have already been observed in the history of the currency. And in any case it won't exceed 50%, as it happened to the Russian ruble during the crisis. The fall of the dollar will depend on "the ratio of world economies, the depth of the crisis, which so far few can predict.
Referring to the idea of creating a single world currency, Kudrin opined that it could not be created in the near future. " There will definitely not be a single world currency in the next 30 years, and then we'll see," Kudrin said.
You know what that sounds like? "I think the sick man is more alive than dead." This post demonstrates Kudrin's stupidity for the following reasons (since you need to explain it on your fingers):
1. this smeared blather cannot be called any kind of prognosis at all, because apart from all the uncertainties in black and bold it contains no specific thoughts, no argumentation, no justification, no vision of the big picture. One lingering "I think so".
2. The figures cited are out of thin air. Especially the one in red. Amid the general uncertainty of these "forecasts", the promise of "in any case" only speaks volumes about Kudrin's faith in the American financial system. That's valuable ! Especially after it has become clear to the world that the cause of the global crisis is the United States. In this context, Kudrin's faith in the dollar shows that he still (like the rest of his American test tube brethren) does not understand the origin of the crisis and what it will lead to.
The dollar has already fallen by half against the euro, from 0.8 to 1.6. Promising no more than 50% "either way" can only be made by a totally irresponsible person who is worse than the lamest American analyst: they don't take on such claims.
3. The creation of a single world currency "in the near future" is indeed impossible for political and technical reasons. But "30 years" and "near future" are not the same thing. This smart guy first admits "few can predict" and then says "definitely not going to happen". That is, he has a poor perspective of 2-3 years, but he knows for sure about 30 years. Super !
And two more points that are much more important than all of the above.
4. A Russian finance minister telling the world what will happen to the dollar in the next 2-3 years is a rare foolishness and a disgrace. Stupid because Kudrin is a nobody, has nothing to do with the US administration, the Treasury or the FED. Not only does he have nothing to do with anything, he is the last to know about changes in US fiscal policy, from the newspapers. And he takes the liberty of making public predictions. And the shame of it is that the purpose of those predictions is actually quite different. By doing this he is bowing down to the States, showing his loyalty to the dollar and to America, to his American mentors and their ilk.
5. After Russia has officially proposed the creation of a new world currency, all these demonstrations of loyalty, ass licking, and promises that nothing will happen for 30 years and then we'll see, this is a direct put-down of the Russian leadership, i.e. Putin and Medvedev, and all Russian politics. And hence Russia. Who likes that? Well, except for Timbo.
Answers.
1. For Kudrin, and for me too, 30 years sounds like "never". I'm not Kudrin, I don't have the courage to look 30 years into the future. But I can, once again, propose my favourite game - "Prove it". The topic is "Ameros will replace the dollar by spring." Spring is in full swing. I'm willing to bet real money, say 100 bucks, that there will be no Amero or world currency by spring or summer. If the dollar does disappear, I pay in rubles at today's rate. Accordingly, anyone who brings another confirmation of Amero's proximity to the forum is obliged to accept my wager. Otherwise, it is a bit awkward, one says what he himself does not believe.
2. As has been noted, Kudrin is not an independent figure in Russian politics. He will not determine anti-crisis policy. If Putin said to give 5-7 billion to his friend in the St Petersburg mayor's office, Kudrin cannot say no. The Russian economy itself is not self-sufficient, the banks got extra liquidity instead of loans to the real sector and invested in dollars. Can anyone imagine a reverse situation, with American banks investing in roubles? AIG gave a few measly percent of the money they received as bonuses and they got trampled. Russian banks left everything to the left. Kudrin is doing the little bit that is in his power - he is saving money into the Stabilization Fund, and doing it well. Here he is almost called the enemy of the people - http://www.ej.ru/?a=note&id=8917 - and rightly so to some extent. If he had more power, perhaps he would act differently, but in the meantime he operates within the narrow framework set by Putin, Surkov and Ivanov.
Is it smart to be a minister, save the dough and watch the foreign debt of corporations grow?
So that they can get the money to pay the foreigners... In short, we gave the Stabilization Fund to the West a long time ago. We are now left with pennies