izwest (izwest) wrote,

Denomination: for and against. Why not categorically dismiss other people's ideas

In recent days there were conversations (even at the level of the benches at the entrances) about the forthcoming denomination of rouble. Brownies know-it-alls discussing how it will be and what it may bring. Moreover, the number known only to them "facts" is growing at the speed of an Express train. A simple question, where firewood where such information appears, it should be a reasonable answer: read the Internet.

Indeed, this idea a few days ago was thrown into the information space. And it looks very enticing, especially for a generation of veterans. Those who remember the Soviet times. Remove two zeros and get... the Soviet dollar. Those "proud" of 70 cents for the dollar!

On the one hand, nothing extraordinary happened. Everyone is entitled to their own opinion. Moreover, the person is not third-party, the economist and well-known among specialists analyst Alexander Razuvaev. And the goal of the denomination, he said quite reasonable. To eliminate the "extra cash" and reduce government spending on the production of money.

And on the other side? On the other hand we have a memory. Yes, it is the memory of those who survived the denomination in the nineties. For these people, the denomination is not just a rename, and from Latin it is translated it is a beautiful word, it is the rise in price of new goods, the rounding value rounding-up of goods, the price of which did not end with zeroes... and positive effect on the lives of ordinary people from such renaming was not.

That may be, if idea would support

The experience of the last denomination it is safe to say that good is less than bad. Let us remember what was and think again whether this situation today.

Let's start with the price of goods. The idea of the then government they were to fall exactly 1,000 times. But what happened in reality? Prices even have grown. In new numbers, it didn't look so obviously, but grown up! And for new goods and old. On those "no zeros" of the old pricing. And then began to grow on the ruble or two constantly.

But even this was not the main negative phenomenon of the time. Scared people who have been deceived many times, saw their deposits with banks are impaired. Then quietly panic. Deposits were taken from the accounts, the accounts were closed. And the money was spent to purchase some things. The people acted on the principle "money is paper, and the thing is always the thing." And this gave rise to problems at a large number of banks, up to the closing. And then there was the default...

Specialists probably will correct me. The denomination was then conducted in conditions of hyperinflation. When prices were rising almost daily. Cause and effect were not observed. Probably, and it's true. But then, in terms of economic stability, why do we need a denomination?

A large mass of cash in the population? That kind of nonsense? We live in the 21st century. Tell me who and when was the last time I saw a man making a serious purchase for cash? The country has long moved to settlements for non-cash items. Card today is available to any citizen of the Russian Federation.

The denomination will solve any economic problems? Even I, an outsider, it is clear that no problem it cannot solve. The only thing that comes to mind is probing public opinion is on the idea of a denomination. How people react...

But here there are doubts. The economic situation today is not rosy for most people. No matter how hard the government to smooth out the rough edges associated with the pandemic, any Russian family have problems with money. Why should the state contribute to these problems? You can wait some time, when the situation again stabiliziruemost, and then have the denomination painless.

However, there is one idea that I sometimes meet in the statements of economists. The idea is as old as the world. I'm on oil and gas needle, which is where we still sit. 60% of foreign exchange earnings in Russia last year, we received from the export of oil, gas and petroleum products. And, again, it is important, half of the money came to us from Europe.

It is easy to imagine what happens to our money if the market for some reason collapse or the need for hydrocarbons will be reduced. But the prerequisites for this are already available. The EU strenuously seeking options for the replacement of oil by other (more environmentally friendly) energy. But then it is not clear what does the denomination. It in case of loss of the European market may be the devaluation of the ruble.

In short, the exact answer to the situation I have. Perhaps the author will speak about it.

The reaction of the Central Bank of Russia predictable

As for the conduct of denominational responsibility of the Central Bank of the Russian Federation, and the main man, is able to clarify the situation, is its Chairman Elvira Nabibulina. I must say, the Central Bank reacted fairly quickly than the reduced degree of the intensity of the situation. So the most important thing from the speech Nabibulinoy:
"We have the order of all and denominations, and banknotes. No reason here to change no. People can always use cash, their funds in banks. No limits, no changes are under consideration, not planned".

This statement was made two days ago in the Federation Council. That gives us reason to believe the words of our chief banker. Moreover, the Central Bank Chairman spoke not only of denominations, but generally on monetary reform.


To relate to what is happening in the country and the world, you need a cool head. The voltage in all fields is growing. Changing the political component of the world, changing the economic component, changes the moral component. Everything in our world is interconnected.

And to accuse specialists in various fields in some intrigues against the people is not worth it. Specialists just look a little further and see a bit more than others. Because and salvation from future adversity today. Right or wrong it's options, decide again experts. In the coming months, and perhaps years, the world will face tough times. Breaking the old and building a new home for humanity — a painful process.

That's why I'm not making categorical conclusions categorical statements. That looks a little exotic today, tomorrow may be the only correct solution. What is relevant today, tomorrow becomes infinitely old brake development. So we will monitor the situation. The strategic objective remains the same: to restore economic, military and political power of the country. It is important...

© 2007-2020, All Rights Reserved Nigeria|Somalia|Sudan|Tunisia|News|War
Tags: news, russia, ukraine, Мнения
  • Post a new comment


    Anonymous comments are disabled in this journal

    default userpic