Military Review

The head of the central bank plays with fire

75
Many have long understood that our financial regulators live in a kind of parallel world. Where there are other, little to common sense economic laws, and where to extinguish a fire with gasoline is the norm. And it is only from such positions that one can lightly accept the argument that raising the key rate works against inflation and even helps reduce the cost of loans.




So, we quote the official newspaper, “Rossiyskaya Gazeta”, which practically does not comment in any way on the statement of Elvira Nabiullina, made not in the lobby, but in the State Duma:

"Raising the rate of the Central Bank, which should keep inflation under control, may still have an impact on the rates on long-term loans, including mortgages, namely, to reduce them."


And all this, I repeat, without comment.

Apparently, the chairman of the main credit institution of the country, which had long since refused to lend its wards, commercial banks, was not even going to explain something to the legislators. Your guys - and they will understand. "If inflation is under control, then interest rates on loans will gradually decrease." This is almost the only thing that Elvira Sakipzadovna allowed herself to explain.

But indeed, the logic of the head of the Central Bank may seem as simple as the device of the moonshine. We present our own version of the understanding of this logic. So, in the Central Bank, it seems, they are convinced that if you reduce the amount of money you get into the economy, complicate credit conditions that the real sector has already “overheated” (the term of one of the representatives of the Central Bank), then the bankers simply have no place to go. It is necessary, they say, to reduce the interest on the mortgage. It is necessary to attach free funds somewhere.

But about the mortgage and mortgage rates itself Elvira Nabiullina spoke in the Duma well, just beautiful, although not too smoothly. “Mortgage loans - our rates were really falling. And by the middle of the summer of this year reached a historic low. And the growth rate (as you can understand, the issuance of loans) is quite high in mortgage loans. And analysis shows that this is precisely because we are keeping inflation under control. ”

And after that, she added something about the key rate, the increase of which, according to the head of the Central Bank, “is aimed at keeping inflation under control in such a way that long-term loans also decrease rates on them. We proceed from the assumption that this will occur on mortgage loans. ”

As an argument in favor of such a slightly paradoxical logic, the Central Bank cites data on the scale of lending, which, obviously, should, if not frighten, then at least alert the people's representatives. And not only them, but also the general public. Through the press, of course. Here is the data of the Central Bank: from the beginning of the year (January-September), lending to the economy in Russia exceeded 47,1 trillion rubles. For nine months - at 4,7 trillion rubles. And this is all without any details.

But even against such figures, all statements by the Central Bank are more or less acceptable only in the face of real competition in the financial sector. And with this, as our readers know well, the situation is, to put it mildly, not very. And here even the almost complete monopoly of Sberbank in dealing with individuals is by no means the most important thing. Much worse is different - with one exception in the form of Alfa-Bank, all the largest credit organizations in Russia have long been turned into poorly camouflaged branches of the Central Bank.

And the Central Bank, as is known, by law has no right to directly participate in the functioning of the financial sector. Of course, with the exception of the compulsory redemption of currency, which, after a series of recent decisions, for those who fell under the sanctions was not at all mandatory. Well, more and regulation of the financial sector, which, however, for the past several years has become a ruthless and consistent sweep. First, those who have a bad deal with the standards of the Bank of Russia, and then just all the "disloyal".

And nevertheless classics not for nothing said that practice is a criterion of truth. So, actual practice shows that in August, when the Central Bank rate was minimal (7,25 percent per annum), the weighted average rate on housing mortgage loans in rubles in Russia updated the minimum and amounted to 9,42 percent against 9,57 in July.

As you know, in mid-September, the Bank of Russia decided to raise the key rate by an 0,25 percentage point to 7,5 per annum. And in spite of all the layouts of its chairman, such a decision of the Central Bank for some reason immediately pushed a number of banks to raise mortgage rates. Not reduce, notice, and raise. So really, after another increase in the key rate, the opposite will happen?

A number of experts are already saying that the Central Bank is simply trying to spread straw in case of new sanctions from the US and the European Union. But these arguments have now become quite easy to refute. After all, the worst thing that we expected from the sanctions actually happened already. Next - only the economic blockade, which definitely will not join more than half of the world. In the end, Russia did not just join BRICS, it has traditionally supported Iran in the most difficult years, and even, if not directly, North Korea, and now it does not allow Turkey to be outcast.

However, from the point of view of traditionally liberal-minded analysts, in this case, we are simply trying to pass what we want into reality. For the notorious "turn to the East" takes time, a lot of time. In addition, with the current leadership of the government’s economic bloc, with its frankly pro-Western attitude, taking into account the prospects for the implementation of Nord Stream-2 and other similar projects, we will continue to turn to the West and suffer anything from it.

And most likely, experts from the Analytical Credit Rating Agency (ACRA) predict a drop in Russian GDP in the 2019 year immediately by 2,5 percent. At the same time, making a reservation that this will happen only "in the event of a massive expansion of anti-Russian sanctions." In the baseline scenario, at 2019, the year predicted quite decent economic growth - at the level of 1,4 percent, and inflation at the level of 4,6 percent.

Meanwhile, the leading business media, living, again, mainly on Western funds, replicate and relish such predictions, not without pleasure. And this only confirms the outright engagement of the forecast itself. However, let's not forget that Russian GDP is largely calculated on the basis of oil and gas revenues, and those same 2,5 percent generally do not go beyond the framework of the notorious statistical error.

What one cannot but agree with these experts is in the inflation forecast for the end of the same 2019 year. She, according to a negative forecast, should be eight percent, which is twice as large as the Central Bank forecast. At the same time, analysts believe that the key rate of the Central Bank will already reach 12 percent, that is, we are talking about the fact that in practice the Central Bank will do everything to ensure that inflation exceeds its own forecast.

Characteristically, in the ACRA forecasts, it is said about the dollar, the rate of which on average for 2019 a year can amount to 83 rubles, with a baseline forecast in 64 rubles. Interestingly, the same 100 rubles per dollar, which we wrote at the end of the summer, appeared in the negative forecast of the same experts for the current year.

At the same time, analysts have laid into their most pessimistic scenario the possible onset of a recession in the US, the debt crisis in China and budget crises in selected European countries, which will be accompanied by financial stress. So maybe all this will be worse for Russia for the worst sanctions?
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  1. Svarog
    Svarog 12 October 2018 14: 09
    +35
    Many have long understood that our financial regulators live in a kind of parallel world.

    I would expand this definition, not only financial regulators, but in general the entire "elite" - aliens ..
    But the fact that Nabiulina is a pest, which at the same time does not hesitate to travel to the USA for grants .. there is no doubt ..
    1. Nasrat
      Nasrat 12 October 2018 14: 29
      -5
      Quote: Svarog

      But the fact that Nabiulina is a pest, which at the same time does not hesitate to travel to the USA for grants .. there is no doubt ..


      You’ll be careful with statements without facts, they will send a paper with a court decision next year .. and you will follow it ... laughing

      https://topwar.ru/148231-gospodin-bastrykin-my-oprovergaem-i-izvinjaemsja.html
      1. Svarog
        Svarog 12 October 2018 14: 40
        +15
        Quote: Nasr
        Quote: Svarog

        But the fact that Nabiulina is a pest, which at the same time does not hesitate to travel to the USA for grants .. there is no doubt ..


        You’ll be careful with statements without facts, they will send a paper with a court decision next year .. and you will follow it ... laughing

        https://topwar.ru/148231-gospodin-bastrykin-my-oprovergaem-i-izvinjaemsja.html

        http://perepostil.ru/blog/43278146040/«Doklad-v-logove-«druzey»-Rossii»:-ob-otezde-glavyi-TSB-Nabiulli
        Please .. here is a link for you, Nabiullina regularly travels to the USA with reports, but you did not know?
        1. Nasrat
          Nasrat 12 October 2018 15: 03
          -8
          Yes, it’s violet to me how you develop .. I don’t need your evidence ... And I don’t take into account the evidence that you provided ... rather, on the contrary, it will consider it another slander wassat
          Well, nothing, the first communists (Bolsheviks) poked the same links .. then they began to edit - I think this thought will be pleasant to you ....
          1. Svarog
            Svarog 12 October 2018 15: 09
            +7
            Quote: Nasr
            Yes, it’s violet to me how you develop .. I don’t need your evidence ... And I don’t take into account the evidence that you provided ... rather, on the contrary, it will consider it another slander wassat
            Well, nothing, the first communists poked the same links .. then they began to edit - I think this thought will be pleasant to you.

            And if you read carefully, then we are talking about publishing an article, and not about private opinion ..
            1. Nasrat
              Nasrat 12 October 2018 15: 12
              -11
              Quote: Svarog
              Quote: Nasr
              Yes, it’s violet to me how you develop .. I don’t need your evidence ... And I don’t take into account the evidence that you provided ... rather, on the contrary, it will consider it another slander wassat
              Well, nothing, the first communists poked the same links .. then they began to edit - I think this thought will be pleasant to you.

              And if you read carefully, then we are talking about publishing an article, and not about private opinion ..

              You didn’t read it carefully, but I wrote - it’s violet to me ... it’s you yourself, and for a long time already, you have been begging for a term ... but in the light of the court’s decision on VO, it’s clear that everything is under control .... right .. I’m just a warning ... Cry on!
              1. Logall
                Logall 12 October 2018 15: 38
                +10
                Nabiullina has long drowned herself:
                Quote: Nabiullina
                The problem of Russian pensioners is that they do not know how to save money and do not know how to invest.

                Well, how much, in her opinion, retirees get, that they can even invest, but they can’t. Maybe retired pensioners can go on the right investment ... To Mrs. Nabiullina. She knows, she will teach.

                Well, she, as the head of the Central Bank, is not investing in our economy because it is necessary that she has to raise the key rate ?!

                Here's how interesting: one blurted out rubbish about a living wage of 3500 rubles per month, she was immediately removed, and this has been a long time ........
        2. Alexey Novikov
          Alexey Novikov 12 October 2018 19: 20
          +1
          And where does he go to the USA for grants? Maybe then we will write Putin as Trump's grant-eater after the meeting in Helsinki? And at the same time the entire Ministry of Foreign Affairs - after all, panimash, what bastards, they regularly hang out at the UN, receive instructions. Huh?
      2. volot-voin
        volot-voin 12 October 2018 14: 53
        +5
        Quote: Nasr
        You’ll be careful with statements without facts, they will send a paper with a court decision next year .. and you will follow it ...

        Written justified for lack of evidence. Probably wrong man spoiled and drank blood. Eh mat was banned, it’s hard to talk about our authorities without mate and extremism.
      3. The comment was deleted.
    2. Note 2
      Note 2 12 October 2018 14: 35
      +17
      And Nabiulina, having an income of 24 million rubles a year, teaches pensioners how to save on retirement of 12 thousand.
      1. volot-voin
        volot-voin 12 October 2018 14: 55
        +8
        Quote: Prim2
        And Nabiulina, having an income of 24 million rubles a year, teaches pensioners how to save on retirement of 12 thousand.

        Some science fiction writers believe that 3,5 can survive.
        1. Faceless
          Faceless 12 October 2018 15: 42
          +8
          An increase in the Central Bank rate, which should keep inflation under control, may still have an impact on interest rates on long-term loans, including mortgage loans, namely, lead to their reduction.


          How well you can understand the respected Russian newspaper, which left this without comment. Abstracting: stupidity, in principle, it is always difficult to comment.

          The refinancing rate (it is also the discount rate of the bank interest, the "Central Bank rate") is (among other accounting indicators) the interest at which the Central Bank gives loans to other banks (within our two-tier banking system). Accordingly, the higher it is, the harder it is for these very commercial banks. The latter, not being charitable organizations, must take money from somewhere in order to obtain their own profit, as the main goal of their own activities (according to the law). Accordingly, what can prevent them from using such an obvious and easy method of obtaining this very profit, as increasing their own interest rates? Or does someone seriously believe that under such circumstances, banks will stubbornly keep their own interest rates below the Central Bank rate, while suffering losses, and frantically look for where to win back the losses?

          Over the past 25 years, at least once in the history of the Russian Federation there has been at least a short period when average interest rates on loans were lower than the Central Bank rate (not by 0,25% during the month, but something more real and more serious)?
          Answering this question, one can clearly understand the Russian newspaper, which does not comment on the theses indicated in any way.

          Regarding the fight against inflation.
          In my opinion, there are 3 strategic directions, if controlled, inflation will be extremely simple to regulate:
          - energy prices (primarily gasoline);
          - prices for railway transportation as the cheapest transport in the world (but for some reason not in Russia, where it is cheaper to send a truck across half the country than the same cargo by cars);
          - the cost of loans for the development of production (if there are adequate conditions for issuing, because when you look at some requirements you clearly understand: if there were required annual turnovers, such loans would not be needed).

          There are simple and effective ways of state control over these areas. But, apparently, something is missing to make everything work out.

          Here, perhaps, I will take an example from a respected Russian newspaper, and finish my comment.
          1. YarSer88
            YarSer88 12 October 2018 19: 15
            +3
            Your opinion about banks is logical, but not entirely true. In addition to the cost of borrowing money (the Central Bank's key rate), banks also have conditions in the market. And a lot of garbage cans that bring down the price in this very market. Therefore, often, the rates are not growing on mortgages (where the client can always "jump off" after seeing a much more profitable offer from the trash heap), but on loans to a business that has nowhere to go by and large (opening an account in a trash bank is not an option at all, you can much more to lose if covered). That is, the Central Bank rate certainly affects mortgage rates, but if the market supply makes its own adjustments, the correlation between the Central Bank rate and mortgage rates may be distorted. It is this distortion that Sakhipzadovna points out. However, this statement like "The patient was admitted with a high temperature, so we put him naked in the frost and pour water on it. And it is not true that pouring water on in the cold can cause the temperature to rise - it only goes down, soon it will even drop below zero."
        2. serg123
          serg123 13 October 2018 09: 53
          0
          Apparently they do not have rubles in their wallets, but dollars or euros
    3. Vladimir 5
      Vladimir 5 12 October 2018 16: 34
      +6
      E. Nabiullina is the representative of the Central Bank of the Russian Federation, there Yudaeva and other students of Ielsk and other courses in the USA rule, special for aborigines from the Russian Federation ... E. Nabiullina, - only an accountant by education, but put on the highest economic policy position, - to lead the Central Bank of the Russian Federation , but according to his personal capabilities "does not pull" and is a parrot for scoring, written by the acting shadow cardinals on her paper, Until the president (and this is his job) is approved by the president (and this is his job function) of the appropriate level of economist to manage the Central Bank of the Russian Federation, until then theft budget funds and the strangulation of the Russian economy does not stop ... Types like E. Nabiullina, without a deep understanding of their criminal actions, will continue to disclose nonsense, for example, like the current ones in the State Duma ...
      1. Alexey Novikov
        Alexey Novikov 12 October 2018 19: 22
        -1
        You can immediately see a person who is not a funny clown, who is begging for informational washes, but works in serious structures)
        1. dSK
          dSK 13 October 2018 02: 11
          0
          Quote: Alexey Novikov
          funny
          funny
          extinguishing a fire with gasoline is the norm ...
          In the base case for 2019, quite decent economic growth is forecasted at 1,4 percent
          Harvard textbooks work ...
          History of GDP of the People's Republic of China:
          From 1979 to 2010 (30 years), China's average annual GDP growth was 9,91%, peaked at 15,2% in 1984, a record low 3,8% in 1990.
          In 2017 - 6,7%
          1. Alexey Novikov
            Alexey Novikov 13 October 2018 13: 10
            0
            Well i.e. and you have nothing to confirm the balabalism of comrade Vladimir 5. Clearly, you can not continue.
            1. Vladimir 5
              Vladimir 5 13 October 2018 18: 40
              -1
              And Novikov .. If in doubt, listen to economists with the academic titles:, S. Glazyev,, Delyagin, Kasatonov, etc. ... There will not be enough space on the commentary for clarification to you ...
  2. rocket757
    rocket757 12 October 2018 14: 20
    +2
    Invasion of aliens?
    And when you thought, what is there in the valleys of outer space that such a wise, higher mind lives / moves?
    Ali how, faith in the highest is completely lost?
  3. Skay
    Skay 12 October 2018 14: 24
    +6
    In mid-September, the Bank of Russia decided to raise the key rate by 0,25 percentage points to 7,5 percent per annum. And contrary to all the arrangements of its chairman, such a decision by the Central Bank for some reason immediately pushed a number of banks to raise mortgage rates

    I’m not at all a financier, but what the commercial banks did is quite natural and logical. They bought more money - they sold it more. But what Nabiulina said at the beginning of the article is, in my opinion, a diagnosis. Rising money can not reduce the cost of credit. Commercial banks cannot work at a loss.
    Or am I already missing something? request Criticize.
    1. Semen1972
      Semen1972 12 October 2018 15: 07
      -6
      Quote: Skay
      Or am I already missing something? Criticize.

      If inflation is under control, then interest rates on loans will gradually decrease.
      1. Skay
        Skay 12 October 2018 15: 49
        +2
        Here, after all, what subtlety, as I understand it: The key rate of the Bank of Russia cannot be lower than the inflation it has voiced. For this percentage, commercial banks take money from the Central Bank of the Russian Federation and give them out to those who wish for an even higher percentage in the form of loans. This percentage cannot fall below the key interest rate of the Central Bank of the Russian Federation due to a simple economic logic - the bank cannot work at a loss.
        And as for inflation control ... Both the decline and the growth can be quite controlled.
        1. Alexey Novikov
          Alexey Novikov 12 October 2018 19: 25
          -1
          In addition to Central Bank loans, banks have such a thing as free money on accounts in the framework of the same salary projects, for which no interest is paid, but which participate in the formation of assets. Therefore, banks can provide loans at a rate lower than the Central Bank.
        2. Thomas the Unbelieving
          Thomas the Unbelieving 14 October 2018 21: 20
          -1
          A serious conversation can only be when the legend about the possibility of regulating inflation with usurious interest, that is, affecting the price level, is exposed. Let's say it's about a mortgage. Can it be argued that housing prices depend on what percentage banks will require for a loan? Or are gas prices dependent on credit?
          Wild things are hammered into our heads. The task of the Central Bank is to contribute to the development of the economy by providing loans to the government and banks. In the meantime, on the contrary, the government pays banks to cover excessive interest on mortgages, agriculture and other programs. Therefore, the budget needs new taxes to pump money into the pockets of bankers, not even Russian ones. Inflation must be fought increasing production, not reducing demand.
      2. YarSer88
        YarSer88 12 October 2018 19: 21
        -1
        This is if the cost of the loan includes high inflationary expectations. We have had inflation for a long time at an acceptable level, so a decrease in inflation will have less impact than a rise in the cost of money. Such a fall could have been (and most likely was) when the Central Bank raised the rate, if memory serves, to 15% during the devaluation of 14 years. The rate rose sharply, but mortgage rates began to decline. Now this will not happen, mortgage rates are already at the level of the plinth, it will be costly for banks to retreat further. Rather, mortgage rates are kept at this level thanks to the competition from small banks, including laundries, they do not allow large banks to raise rates by banal dumping. That is why such a "witch hunt" began under the pretext of fighting cash out.
  4. Ross xnumx
    Ross xnumx 12 October 2018 14: 27
    +21
    The phenomenon when in the country finance is managed not by the State Treasury and not the National Bank of Russia, but by some kind of Zakhipzadovna with no one reporting to the Central Bank is nonsense. Nowadays, industrial enterprises and people do not need hundreds of commercial banks, but a low percentage of credit and a sufficient percentage of long-term deposits. Let them remember the practice of the Bank of the USSR.
    Forgive me, but, honestly, I’m already tired of consuming this nonsense, which they cook in the State Duma and knead in the Central Bank and ministries ... Or for the people, and if it doesn’t, they would have taken the pitchfork long ago. And so - they endure ...
    1. Altona
      Altona 12 October 2018 14: 58
      +7
      Quote: ROSS 42
      some kind of Zakhipzadovna with no one obeying the Central Bank

      -----------------------
      There she is not alone. There are still "three heroes" in the Government - Kudrin, Siluanov and Oreshkin. With them is an amateur photographer, a certain Medvedev.
    2. Claymore
      Claymore 12 October 2018 15: 40
      -3
      Quote: ROSS 42
      The phenomenon when in the country finance is managed not by the State Treasury and not the National Bank of Russia, but by some kind of Zakhipzadovna with the Central Bank not subordinate to anyone, is nonsense

      That is why the finances of the Russian Federation are managed not by some Sakhipzadovna with no central bank, but the Central Bank of the Russian Federation (accountable to the State Duma of the Russian Federation and managed by the National Financial Council), as well as its Chairman (appointed by the President of the Russian Federation with the consent of the State Duma of the Russian Federation).

  5. mavrus
    mavrus 12 October 2018 14: 28
    +2
    Today they have kicked out one clever beauty, and this one needs ... to the heap. Or, in our country, only governors are capable of such acts, and the president will continue to look and wipe away ...
    1. NordUral
      NordUral 12 October 2018 19: 08
      0
      They do not wipe themselves, but we.
    2. YarSer88
      YarSer88 12 October 2018 19: 36
      -1
      No, it’s one thing when a person directly says stupidity, and even frankly unpleasant for ordinary people, and another thing is when the quote is taken out of context and supplemented with speculation. For example, the statement that a rate increase may have an effect on the value of long-term loans is indeed justified. I doubt that in the current situation, the inflation factor will affect interest rates, since it is already in them, but this applies to the current situation. The rate is affected by 3 main factors: 1) the cost of money - the Central Bank rate / foreign loans / deposit rates (depending on where the bank takes the money), 2) inflation expectations of the bank (namely, the long-term forecast of bank analysts) 3) the margin of the bank (management decision, how much what you need to earn). So, if the influence of the value of money is lower than inflationary expectations, then the growth due to factor 1 is offset by a decrease due to factor 2, as a result, the rate decreases. It’s just that if people are far from banking, and for them the activities of banks are comparable to a stall: they took 100 rubles at 5%, issued at 7%, a profit of 2%, they won’t understand the quote correctly, which is what those who posted this article expected. About retirees who do not know how to invest, the idea is also sensible, but it was silly. You can express indignation as much as you like, but the reality is that you need to invest in your youth pension: buy an apartment in a mortgage for rent, collect a deposit in Sberyam Lyamov 10 (for 40 years - set aside 250 a year, 000 a month from family), at worst, to buy a villa in Spain - for rent in summer is excellent. In general, do not wait for retirement, but act. This is a very reasonable thought, by the way. You can, of course, spit in the direction of the Kremlin and not invest, but as a result there will be nothing, it is unlikely to feed the expressed indignation.
    3. boriz
      boriz 12 October 2018 21: 52
      0
      In this case, on the part of the governor, this is not an act, but the only chance to survive.
  6. Machito
    Machito 12 October 2018 14: 49
    +1
    Everything was mixed up: horses, people ...
  7. Altona
    Altona 12 October 2018 14: 55
    +7
    And every day you read such news from a parallel financial universe. Where the lack of cheap money and mantras from HSE textbooks try to cure our financial system.
  8. tv70
    tv70 12 October 2018 15: 02
    +2
    In the Union, treasury bills were secured by the state and, as I recall, perhaps I am mistaken, a gold reserve. The current money is just candy wrappers, I did not see how they are provided. By the way, before I received a passport from the Department of Internal Affairs, and now the Federal Migration Service. Am I a migrant? None. oh-ohhh I don't understand!
    1. Conductor
      Conductor 12 October 2018 15: 15
      +2
      The Federal Migration Service has been gone for more than 2 years, and in July of this year, I was issued a new passport by the Main Directorate of the Ministry of Internal Affairs of Russia in the Rostov Region.
      1. tv70
        tv70 12 October 2018 16: 02
        +1
        Dear, last document, I read and ofigel, still goof, who am I? fool
  9. Semen1972
    Semen1972 12 October 2018 15: 02
    -10
    Quote: Svarog
    Please .. here is a link for you, Nabiullina regularly travels to the USA with reports, but you did not know?

    But Lavrov doesn’t climb out from abroad, didn’t you know? Can you list those who not only travel, but also send children there? I understand you correctly that all the FSB, the government and the president either do not see the betrayal of the motherland, or in shares .. They can’t see, can you blame the entire Russian government for treason ?? But since nothing can be done, can you then change your place of residence? or what suggest? Maidan? Orange revolutions? Rose Revolution? As you will overthrow the traitors, the request is more detailed, interesting straight.
    1. Svarog
      Svarog 12 October 2018 15: 11
      +13
      Quote: Semen1972
      Quote: Svarog
      Please .. here is a link for you, Nabiullina regularly travels to the USA with reports, but you did not know?

      But Lavrov doesn’t climb out from abroad, didn’t you know? Can you list those who not only travel, but also send children there? I understand you correctly that all the FSB, the government and the president either do not see the betrayal of the motherland, or in shares .. They can’t see, can you blame the entire Russian government for treason ?? But since nothing can be done, can you then change your place of residence? or what suggest? Maidan? Orange revolutions? Rose Revolution? As you will overthrow the traitors, the request is more detailed, interesting straight.

      The stupidest questions of a schoolboy ... to answer-do not respect yourself ..
      1. Semen1972
        Semen1972 12 October 2018 15: 30
        -7
        Quote: Svarog
        The stupidest questions of a schoolboy ... to answer, do not respect yourself.

        I did not expect another from the troll))
  10. Mikhail3
    Mikhail3 12 October 2018 15: 02
    +5
    "Our" Central Bank is guided by simple and precise logic. It's just that its most important goal is to contain, and ideally destroy, the Russian economy. If we consider the situation and the decisions of its current head from this point of view, then everything is completely clear. Of course, you can press even harder, but as I understand it, Putin's group is still worth something. So Elvira Sakhipzadovna is balancing between a passionate desire to destroy this hated Russian economy and the threat of getting hit in the neck.
    1. Claymore
      Claymore 12 October 2018 15: 54
      +5
      Quote: Mikhail3
      "Our" Central Bank is guided by simple and precise logic. It's just that its most important goal is to contain, and ideally destroy, the Russian economy.

      The Central Bank of the Russian Federation (without quotation marks) is guided by a simple and precise logic - to rigorously implement state policy, the main directions of which in the Russian Federation are determined by the president.

      And state policy always meets the interests of the ruling class, which today in the Russian Federation is the big bourgeoisie, whose interests are tied to relations with foreign states (export of raw materials, import of technology, food, consumer goods, etc.) - this is the comprador nature of state policy.
      1. Mikhail3
        Mikhail3 12 October 2018 16: 09
        -3
        It's nice at least on some realty site, but to meet a real, pure faith in omnipotence. Try it as a real life, and you will quickly understand that it is impossible to "strictly follow" even a completely simple line of making money in one small or even the smallest company. It would seem five people, and even then - the undercurrents are seething, solutions are illogical, miracles all the time, if you push harder, they scatter, if you weaken - miracles again ...
        And even more so, everything is not easy in a country that has lost a major war and underwent complete defeat. Unfortunately, life is much more complicated than the coined formulas from the textbook of Marxism-Leninism, because these textbooks on the wort, on the wort, and then weed in the mud and dragged us ... Beware of these beautiful formulas. they are dangerous.
        1. Claymore
          Claymore 12 October 2018 17: 23
          +1
          Quote: Mikhail3
          It’s nice to have a real, pure faith on any website.

          It is quite common for any site to receive in response an incoherent set of words imitating a wise saying.
        2. NordUral
          NordUral 12 October 2018 19: 13
          +4
          And even more so, everything is not easy in a country that has lost a major war and underwent complete defeat.

          You modestly kept silent about the post-war years. And it’s clear why. It was during these 10-15 years that the USSR became a superpower, the second economy of the world.
          1. Mikhail3
            Mikhail3 12 October 2018 22: 01
            +1
            And I thought all the way that we won in 45! Stupid, huh?
            The state, the country is a fiction. Illusion. Something that exists primarily in the human mind. Do you understand? Bombs, machine guns, tanks, planes, this is very good. But all this does not win! People who are united by something together win. And for the winner, material losses are not too important. After all, these people are alive and won! So they are together, they are strong and RIGHT. So you just need to lean on to work, and everything will be. Which is what happened.
            Or are we broken. And those whom we hoped they would tell us? Maybe we need to strain and take our own? Alas. They tell us that we did everything wrong. That all this is no defeat from the external enemy, but we are all so bad that we have led the country to hell.
            And while we, in utter bewilderment, are looking for what to feed our children now, they begin to show us HOW exactly we need to live now.
            You have to be a thief. It is necessary to deceive and steal. The taller you are, the higher you will rise here. And so on. That's right now. They can SPEAK anything. We then look at what they are doing! In such a country, is a real rise possible? Hehe ... Actually, the country would have already collapsed. Not from an external blow, but from this triumph of thieves' dirty tricks.
            Just people clung to a straw. Everyone hopes that Putin has some kind of global plan, and that all this abomination is not a bit serious. If it turns out that this is not so ...
  11. Semen1972
    Semen1972 12 October 2018 15: 05
    0
    Quote: Prim2
    And Nabiulina, having an income of 24 million rubles a year, teaches pensioners how to save on retirement of 12 thousand.

    Who assigns pensions in the country? Learn theory. And by the way .. and who signed the law ... but what is there .. turned to the "brothers and sisters" that now we ought not to pay you the extra 6 years before retirement .. is it better for everyone?
  12. tv70
    tv70 12 October 2018 15: 06
    +2
    And with the (.) Bullina, not the strength of the anus in the photo?
  13. Wolf
    Wolf 12 October 2018 15: 07
    +9
    One of the main generators of inflation in Russia eats the exchange rate of $ and €. Vapros eats and what did the Central Bank do that the bi would be spread out in a speculative game? If you take into account the real flow of goods that Russia imports from the USA, chicken kriltsa, weapons, grain, consumer goods? The main dependency itself eats dollars and loans in paper investment in Russia. It gets all the way to $ is controlled from abroad as they need. The Central Bank can take it very effectively if it wants to and will save inflation from the main generator. With € a friend a fairy tale, but even there he eats TRG balance and his trump cards. In addition, you can play with heavy weapons in the form of the price of oil and gas artificially, as globalists have already done 70 of their 20th century and so on. Russia eats superdzhava and the possibilities are almost unlimited. Vapros eats there does the financial management just have no mind or something else? This topic is enormous and needs to be analyzed by Tim experts, if it should be respected by every Russian person, the history of the world has never really hit the need that the bi people in Russia were hungry and the bi poverty of the people was racial. It was artificially made. So now, when someone says that sanctions are preventing Russia from developing, it’s just hanging noodles on the ears of some people. The internal development potential of Russia is huge !!! In addition to the 3/4 of the state, the land was not diverted by the sanction of Russia !!! In the most important part of the growth and development of the economy, these are resources and the rest of the packaging. Russia has enough resources and shared markets for the light, and even half a tezhel for an artificial game with prices, the main sire is eating.


    Live beat.
  14. My_log_in
    My_log_in 12 October 2018 15: 08
    +4
    Until this bank is transferred from the "Central" to the status of "State" there is nothing to talk about. I think so.
    1. Claymore
      Claymore 12 October 2018 15: 59
      -3
      Quote: My_Log_In
      Until this bank from "Tsentralny" is transferred to the status of "State" there is nothing to talk about

      There is nothing to talk about.

      The CBR is established by the state and has no other co-founders - i.e. is a government agency.
      1. My_log_in
        My_log_in 15 October 2018 11: 40
        0
        Quote: Claymore
        Quote: My_Log_In
        Until this bank from "Tsentralny" is transferred to the status of "State" there is nothing to talk about

        There is nothing to talk about.

        The CBR is established by the state and has no other co-founders - i.e. is a government agency.

        Your "ie" does not channel, sorry for the meagerness, because "... The independence of the status of the Bank of Russia is reflected in Article 75 of the Constitution of the Russian Federation, as well as in Articles 1 and 2 of the Federal Law" On the Central Bank of the Russian Federation (Bank of Russia). " (quote from the website of the Central Bank of the Russian Federation).
        This is not a state institution, however, just like the Fed.
  15. Semen1972
    Semen1972 12 October 2018 15: 12
    -1
    Quote: ROSS 42
    The phenomenon when in the country finance is managed not by the State Treasury and not the National Bank of Russia, but by some kind of Zakhipzadovna with no one reporting to the Central Bank is nonsense.

    Finance is managed by the ministry of finance, controlled by the government. The Central Bank is responsible for the stability of the ruble. Russia has a higher inflation rating than Ukraine, Belarus, is comparable with Kazakhstan, in all these countries are also traitors?
  16. Rajah
    Rajah 12 October 2018 15: 36
    +3
    Elvira Zapikhvzadovna has long been absenteeism in Kashchenko.
    1. Rajah
      Rajah 12 October 2018 19: 24
      +1
      How can you comment on the actions of the person who last year had the stupidity to assess the well-being of the Russians on the Olivier salad? Then I remember her actions were rated at the level of "Central Bank Cleaners"
  17. kunstkammer
    kunstkammer 12 October 2018 15: 37
    0
    Quote: Nasr
    they will send a paper with a court decision next year

    I have already been sent Adin-melons ... banned for a week!
    Some love her ..
  18. kunstkammer
    kunstkammer 12 October 2018 15: 39
    +1
    Quote: Semen1972
    in all these countries are also traitors?

    And you still do not know? Still in doubt? Still hoping?
    1. Semen1972
      Semen1972 12 October 2018 15: 41
      +1
      Quote: kunstkammer
      And you still do not know? Still in doubt? Still hoping?

      I have no doubts for a long time, I'm purely "neighing"
  19. kunstkammer
    kunstkammer 12 October 2018 15: 39
    +1
    Quote: My_Log_In
    Until this bank is transferred from the "Central" to the status of "State" there is nothing to talk about. I think so.

    I'm afraid this will not be enough ...
  20. Semen1972
    Semen1972 12 October 2018 15: 40
    +2
    For those in the tank:
    "The procedure for appointing the chairman of the Bank of Russia is enshrined in Federal Law No. 86. According to this law, the chairman of the Central Bank of the Russian Federation is appointed by the Russian State Duma. Appointment requires a majority of votes from the total number of deputies.

    The PRESIDENT (Putin) submits a candidate for the post of chairman of the Central Bank of the Russian Federation to the State Duma. This happens no later than three months before the end of the term of office of the current head of the bank. "

    After that, fans of the theory about the appointment of the Central Bank chairman Obama can shoot themselves.
  21. kunstkammer
    kunstkammer 12 October 2018 15: 42
    -1
    Quote: Semen1972
    Quote: kunstkammer
    And you still do not know? Still in doubt? Still hoping?

    I have no doubts for a long time, I'm purely "neighing"

    5 points !!! fellow
  22. seacap
    seacap 12 October 2018 15: 44
    +4
    And what did you want from the colonial administration, which is appointed to control and ensure the uninterrupted plunder of the country. When the same people are in power who killed the state and surrendered it to the enemy without a fight, scattering territories and peoples to the left and to the right, i.e. the fact that our ancestors for centuries collected and cherished for our wretched and corrupt offspring. While these cynical and deceitful personalities, who for some reason decided to call themselves the elite, having created the inherited estates above the law and outside the jurisdiction, the masters of life in power, serve the overseas master, ensuring his development and prosperity, at the expense of her people and homeland, as a diligent graduate of the Yale "study" (where, of course, the most patriotic patriots of Russia are graduated) with her hubby, who heads the study of the HSE State Department, riveting on the stream of officials to serve the IMF (FRS), about the development and Russia's prosperity is out of the question, and it's funny. Changes will come when the Chubais and Gaidars are condemned (even if not imprisoned, but devoted to contempt and censure, removed from power and the budget), the centriks and centers of the drunken foreman are closed and reprofiled, with their family and the corrupt rabble, who have trampled all notions of honor and the dignity of a Russian person and a great power, for the sake of his basest personal desires and ambitions.
  23. kunstkammer
    kunstkammer 12 October 2018 15: 48
    0
    Quote: Semen1972
    If inflation is under control, then interest rates on loans will gradually decrease.

    about the same as the price of gasoline "decreases" from the fall in oil prices?
    Believe .. Believe ...
    I believe, Lord, only in you alone!
  24. malyvalv
    malyvalv 12 October 2018 16: 32
    -6
    It is worth noting that there is still logic in the actions of the Central Bank. The mortgage rate is the sum of the refinancing rate + inflation, or rather what kind of inflation is expected. It makes sense to raise the rate by 0.25% in order to prevent inflation. 1%.
    1. NordUral
      NordUral 12 October 2018 19: 16
      0
      Schizophrenics have the strongest logic.
    2. YarSer88
      YarSer88 12 October 2018 19: 42
      -1
      Reasoning correctly, but in our country this scheme will not work. Inflation is already caused not by an excess of money supply, but by its lack - a high credit load. Therefore, a further increase in the key rate will simply increase the credit burden and accelerate inflation, rather than restrain it. Plus, inflation expectations are already low, their impact is measured in tenths of a percentage point. Although, an increase of 0,25 percentage points unlikely to have any significant impact, so - ripples will create.
  25. Paul Bayan
    Paul Bayan 12 October 2018 19: 45
    0
    Nabizadov’s unprofitable carcass from the Saratrv min of labor for life at 3.50. The gloom is duplicate. Fu
  26. Paul Bayan
    Paul Bayan 12 October 2018 19: 51
    -2
    Federation must be ruled by Russian. Other narrow-film and very tanned about their ipaty aul will think and not about Mother Motherland
  27. nikvic46
    nikvic46 12 October 2018 21: 03
    0
    "I am old. And tired of speeches" -Kutuzov. A long time ago.
  28. sagitch
    sagitch 12 October 2018 22: 05
    0
    VO, damn it! It turns out not only by the last name (probably from the husband), Duc, but also by the patronymic (yes, let her father not be angry with me, it happened! Sorry!). In common people, by husband: I will cheat, or I will deceive, and "beautiful", very good ", super cool"!
  29. sagitch
    sagitch 12 October 2018 22: 21
    0
    Take her away urgently! She is sick! Tram from the school years! With such a middle name! And also a husband with a surname worse! No luck to the woman!
    After all, she takes revenge on everyone and everything, and she set this goal to take revenge on classmates, classmates, neighborhood boys! I harbored a grudge from my childhood and (sooo big), and now I had the opportunity to thwart my grievances against everyone and everyone, and whoever scoffed at her, mocked and who continues ...
  30. Comrade Kim
    Comrade Kim 13 October 2018 01: 32
    0
    “Mortgage loans - our rates have really decreased. And by the middle of summer this year reached a historic low. And the growth rate (as you can understand, the issuance of loans) is quite high for mortgages. And the analysis shows that this is precisely because we are keeping inflation under control. ”
    But the Bloody Elvira correctly says!
    There are places where Russian banks give mortgages at 2,7% per annum in euros, but not all.
    And not everywhere, but for example in the city of Paris VTB and gives out a mortgage at a low European interest.
    And three skins are being torn from us.
    http://www.compromat.ru/page_38674.htm

    The authorities decided that we and 3500 rubles per month enough to meet the minimum "physiological needs".
    Speaking in plain language, so as not to die.
    So,
    Minister of Labor Saratov region Natalia Sokolova I tried to convince the deputy of the regional Duma Nikolai Bondarenko that 3,5 thousand rubles a month is enough "to satisfy the minimum physiological needs."
  31. Mihail55
    Mihail55 13 October 2018 08: 04
    0
    Yesterday I was pleased (though not really a person laughs at someone else's "grief") the dismissal of Saratov's aunt smile And if this lady ... I think this day could be made festive. Celebrate every year! Naturally, not only it is ONE thing. I work in the real sector. Stone Age. Each enterprise is like a separate principality. Where work can be done in half a day - there is LOW, the estate of someone else's uncle! Let us puff ourselves at a loss! Well, if at the very top with logic now there is tension ... where are we to the raw ... smile
  32. kartalovkolya
    kartalovkolya 13 October 2018 11: 00
    +1
    What can we talk about if banks were originally created by Jewish money-lenders, money changers for their own enrichment and enslavement of peoples. And why did you gentlemen think that banks and bankers will take care of the country and the people, and they are stupidly robbing both their own and others (especially since they gained independence from state structures)!
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