Military Review

Central Bank: This Old, Old Rate

66

The penultimate gift of the Central Bank



4,25 percent per annum. Only in the Central Bank and only for banks. And all the same! Modern Russia did not know such lending rates, although affordable credit was the norm both before the revolutions of 1917 and in Soviet times.

It would seem that the decisiveness of the Bank of Russia management, confidently following the course towards the maximum possible easing of the monetary policy, can only be welcomed. But let's try to figure out who benefits and who harms the long-awaited financial stability today. Complete financial freedom in Russia has never been, and never will be. And this is absolutely correct: the 90s convincingly proved that only criminals need it.

However, it is not only the crisis situation in the real sector of the economy that can now prevent definitively getting rid of some kind of inflationary pad in the form of a rate slightly higher than official inflation. After all, the financial sector is also teetering on the brink of survival, since in the current conditions it has sharply limited opportunities to use any profitable instruments.

It's no secret that the demand for money in Russia has fallen due to quarantine so much that even negative credit rates will hardly stimulate it. However, by definition, things cannot reach such extremes in Russia. As the classic says: "This cannot be, because this can never be."

But that's not the point. Entrepreneurs do not go for loans not because of interest, but because today very few people expect to return even the borrowed funds themselves. Nevertheless, in the business environment and in the business media, they are seriously discussing not only the summer reduction in the key rate to 4,25 percent, but also the autumn perspective of 4 percent per annum - as quite real and even necessary.

However, such calculations are still the lot of optimists. Practitioners are inclined to believe that the current conditions will remain at least until the end of the year, and the Bank of Russia can postpone its latest rate cut indefinitely.


Moreover, the decline that the Central Bank made on Friday was taken into account ahead of time by many banks. So, just a week before the meeting of the Board of Directors of the Bank of Russia, sixteen banks from the top-100 list promptly reduced lending rates, some of them by 1,5 percentage points at once.

At the same time, the conditions for saving funds in credit institutions became less attractive. Moreover, this happened ahead of the curve, which confirms the fact that the banking community did not doubt what decision the Board of Directors of the Central Bank would make on Friday. So, according to the monitoring carried out by the Central Bank of the Russian Federation, the average maximum rate on deposits of the 10 largest banks in the second decade of July dropped to 4,55%, whereas at the beginning of this month it was 4,63%.

It is characteristic that the incentive for such decisions on loans and deposits, most likely, was not competition at all, but the softening of the conditions for access to loans of banks closest to the Central Bank, that is, from the top ten. There are analysts who immediately began to sarcastically about this: they say, money is making money again, but today the trend itself is important.

For many years, the gap in the level of interest rates, loans and deposits, allowed Russian banks to exist very comfortably, even without access to foreign capital. As you know, capital is traditionally much cheaper than Russian capital. But now we can only dream of these greenhouse conditions.

With the level of interest rates on deposits, which develops after the next decrease in the Central Bank's rate, one cannot exclude an outflow of client funds. Investors - the public is already very sensitive, they can again run into dollars. And this almost guarantees a strong pressure on the ruble and refutes all forecasts about its possible strengthening.

The real effect of the key rate cut, which is clearly hindered by growing insurance and risk premiums by leaps and bounds, will most likely be seen only in the least risky sectors of the market. That is, in the raw materials or in those that are directly tied to government orders, such as the lion's share of the construction sector.

The crisis was not ordered


In general, the Bank of Russia makes it quite unambiguous that no one will be allowed to sit on the purchase and sale of currency and passive operations with the instruments of the Central Bank itself indefinitely. It is no coincidence that one of the deputy heads of the Central Bank Elvira Nabiullina, who commented on the results of the Friday meeting of the Board of Directors, said: "If you want profits, look for clients."

The pandemic has made literally everyone worried about their currencies, and Russia is no exception. Although the Central Bank of the Russian Federation has not yet had to launch the printing press seriously, unlike the IMF and the ECB. However, let's not forget that these gentlemen will always find where to attach surplus paper and electronic money, but in our country rubles are not too much in demand even from our neighbors - the EAEU.

But even without the ruble emission, one of the most unpleasant surprises at the exit from quarantine and self-isolation was the second wave of the ruble depreciation. The majority of experts, and it does not matter whether they adhere to liberal beliefs or have signed up to "catastrophists", continues to insist that the ruble will certainly win back in the fall.

Over the course of three months of complete quarantine, the ruble very rarely lost track of, and, although it did not add often either, it still strengthened compared to the March indicators. The ever lower rate of the Central Bank should in any case help to ensure that it does not fall at least much. However, for real strengthening, other factors are needed, and above all, growing foreign exchange earnings.

Central Bank: This Old, Old Rate

July inflation turned out to be higher than expected - just 0,4%, which in annual terms gives almost 5 percent. This is what could have slowed down the adoption of the last decision on the rate, but, as we see, the members of the Board of Directors of the Central Bank are not shy people. In addition, they could well have been reassured by the data on the growth rate of retail lending. In June they accounted for 1% MoM, which is significantly higher than forecasted and confirms that business activity is recovering faster than expected.

One can treat differently the current rather controversial policy of narrowing the money supply in order to reduce the cost of credit. One can also complain that deposits are becoming less and less profitable. But if citizens and businesses get a rare opportunity to reduce interest rates on loans, this will give an additional synergistic effect.

Thanks to the reduction in the debt burden, the state and business have good chances of freeing up resources, and considerable ones, for consumption and investment. At the same time, a more affordable mortgage in any scenario, even the most critical one, will stimulate construction and help accelerate the recovery from the economic downturn.

The Bank of Russia, together with the Ministry of Finance, we cannot but give them their due, have managed to minimize the unsecured cash infusion into the economy. Now, by all indications, they are simply trying to competently take advantage of the low base effect.

And the situation contributes to this: it is still developing in such a way when the obligatory warming up of the economy after the crisis began to very quickly adsorb all surplus funds that appear in circulation. Someone may consider this a paradox, but in Russia after the pandemic, it seems that the notorious "effective" Keynesian demand is being formed.

Recall that the British economist Lord John Maynard Keynes, better known as the founder of the post-war dollar financial system, the Bretton Woods, was closely involved in the problems of demand. And the paradox is that the main demand comes from entrepreneurs and banks, and not from the end consumer. Although he, an ordinary consumer, for all his poverty, having come out of quarantine, is simply forced to not skimp on expenses.
Author:
Photos used:
picabu.ru, wikipedia.com, from the authors' archive
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  1. Ross xnumx
    Ross xnumx 28 July 2020 15: 11 New
    13
    And the paradox is that the main demand comes from entrepreneurs and banks, and not from the end consumer.

    The whole paradox is that out of five hundred Russian banks, less than 10% can be called Russian in pure form ...
    1. Lexus
      Lexus 28 July 2020 15: 33 New
      12
      out of five hundred Russian banks, less than 10% can be called Russian in pure form ...

      hi No one! Moreover, the entire financial system is "universal". The "offices" that "baryzha" in the Crimea and the LDNR work as underground "usurers".
      1. Ross xnumx
        Ross xnumx 28 July 2020 16: 22 New
        11
        Quote: lexus
        No one!

        Of course, I am not a bank employee, but what can you say about those who work ... at least in the Crimea? It is unlikely that they have a share of the authorized foreign capital ...
        1. Sergey Nemov
          Sergey Nemov 28 July 2020 16: 43 New
          18
          Today, not all Russian banks are represented in Crimea. The largest and most significant credit institutions: Sberbank of Russia; VTB; Gazprombank; Rosselkhozbank; Alfa-Bank - there are no branches in Crimea and Sevastopol. According to the opinions of authorities in this area, activity in Crimea can lead to negative consequences in the international activities of banks, making it difficult for them to access some resources and operations. Therefore, servicing Crimea has become the business of smaller banks, more focused on operations within the country.
          Compared to 2017, the total number of Russian banks operating in Crimea has decreased. Now there are 6 banks operating in Crimea: RNKB, Morskoy Bank, Bank ChRD OJSC, JSB RUSSIA JSC, Genbank JSC, IS Bank JSC. I don’t think there are foreign capital in the capital structure of these banks.
          1. Ross xnumx
            Ross xnumx 28 July 2020 16: 58 New
            14
            Quote: Sergey Nemov
            Today, not all Russian banks are represented in Crimea.

            Nice man! (+) for your efforts.
            The only conversation is that even Sberbank is not a purely Russian bank.
            The share of the Russian Government in the authorized capital of Sberbank is 52,32% of voting shares. The rest of Sberbank's shareholders are more than 8273 legal entities and individuals. The share of individuals in the authorized capital of the bank is about 2,84%, and the share of foreign investors is over 45%.

            And there are such banks with such an authorized capital that to call them banks - the language does not turn ...
          2. awdrgy
            awdrgy 28 July 2020 19: 47 New
            +3
            So for those banks, international activity is more important than patriotism, something like this It's just a matter of money And if lives are even handed over to the giblets?
        2. Lexus
          Lexus 28 July 2020 16: 52 New
          15
          It is unlikely that they have a share of the authorized foreign capital ...

          And without a share in the authorized capital, there are plenty of levers of pressure. Their "gray" beneficiaries are not poor people, and they clearly do not "reclusive / puritanical" in Russia. This "Gazdep" oppositionist may never go abroad, but a "true patriot" does not know how - after all, he certainly needs to "carry" there his / the "values" deprived of the people. Something, but "to trade from under the counter" and dummy intermediaries for the sake of this "great goal" they learned in the 80s and 90s. They are "not dealt with" only because the "line of the party of the eaters" is completely satisfied with the "hated West". Sanctions - they only have a detrimental effect on the People of Russia and serve to achieve total degradation of our State as such. The rest is tinsel.
          1. Ross xnumx
            Ross xnumx 28 July 2020 17: 01 New
            11
            Quote: lexus
            Sanctions - they only negatively affect the People of Russia and serve to achieve complete degradation of our State

            Rather - the complete degradation of statehood in our country. Even in terms of hydrocarbon prices, it is in Russia itself that it becomes clear who is the boss ...
            1. Lexus
              Lexus 28 July 2020 17: 24 New
              12
              Rather - the complete degradation of statehood in our country.

              Absolutely right. good That was what I meant, but I was distracted - on the next branch I rolled about 404 сThe pi-trollff on the "matsacycle" and filled the entire branch with "exhaust gases", I had to "rivet the hole".

              Even in terms of hydrocarbon prices, it is in Russia itself that it becomes clear who is the boss ...

              The "eaters" have very peculiar, selective guidelines: prices for everything and their own nishtyaks / bonuses - "give a weather vane" to the "hated geyrope"; income of ordinary citizens, education and medicine - we are "looking together" at the Central African Republic! And yes, no way to disobey the "owner" - he will show you the door. It is not in Russia then to teach children and while away their pension. winked
              1. Ross xnumx
                Ross xnumx 28 July 2020 17: 47 New
                +7
                Quote: lexus
                And yes, no way to disobey the "owner" - he will show you the door. It is not in Russia then to teach children and while away their pension.

                yes
                Quote: Odyssey
                Well, this is a completely standard situation for a country of peripheral capitalism. There can be no other way within the framework of capitalism.

                Yes, we can only have this:

                And no one is responsible for anything ...
                1. Lexus
                  Lexus 28 July 2020 17: 57 New
                  10
                  The very next day after the diesel fuel was "drained" into the river, all the fuel at the Ryazan filling station went up by 30 kopecks. "Coincidence? I don't think so!" (FROM)

                  And no one is responsible for anything ...

                  “Golosantsy” are underdeveloped, that they will be “skinned” from them in any case. Accidents and "cataclysms" are a favorite reason for organized crime groups to speed up their "haircut".
    2. Odysseus
      Odysseus 28 July 2020 15: 42 New
      +6
      Quote: ROSS 42
      The whole paradox is that out of five hundred Russian banks, less than 10% can be called Russian in pure form ...

      Well, this is a completely standard situation for a country of peripheral capitalism. There can be no other way within the framework of capitalism.
      In our country, a very high degree of monopolization of the banking sector and state control over them are somewhat non-standard for this type of country. However, this does not interfere with the pumping of money abroad and was also found in Latin America, Africa and Asia. But rather, in the 70s and 80s of the 20th century.
      1. Fibrizio
        Fibrizio 28 July 2020 15: 58 New
        +1
        And where have you seen Large banks with one beneficiary? In the 90s it was prestigious to have "your" bank if you are a serious kid.
        This is big business, it's like asking who owns epl, monsanto or microsovt. The answer is to shareholders. And they are all over the world.
        1. Sergey Nemov
          Sergey Nemov 28 July 2020 16: 50 New
          14
          In our country, there is a systematic reduction of banks. On July 24, the Central Bank of the Russian Federation revoked four banks' banking licenses at once. In 2019, license revocation affected 28 banks, 15 more were liquidated. Is this good or bad? Both good and bad. It is bad, because the monopolization of the banking sector by large players is underway, therefore the consumer will not have much choice. It is good because not all "adequate" banks are being closed, that is, those that are involved in the withdrawal of finances abroad.
          1. Ross xnumx
            Ross xnumx 28 July 2020 17: 12 New
            +9
            Quote: Sergey Nemov
            In our country, there is a systematic reduction of banks.

            In our Russia, it is ridiculous and cynical to talk about planning:
            Until 1986, there were 6 banks in the USSR:

            State Bank of the USSR (State Bank of the USSR);
            Bank for Foreign Economic Affairs of the USSR (Vnesheconombank of the USSR);
            Industrial and Construction Bank of the USSR (Promstroybank of the USSR);
            Agroindustrial Bank of the USSR (Agroprombank of the USSR);
            Bank for Housing and Communal Services and Social Development of the USSR (Zhilsotsbank of the USSR);
            Bank of Labor Savings and Lending to the Population of the USSR (Savings Bank of the USSR).

            In 1988 the first commercial bank was registered.
            Today in 2020, there are 396 operating banks in Russia.

            It is clear who these structures serve. The growth in the number of aircraft factories in our country is clearly lagging behind these rates.
            1. Arthur 85
              Arthur 85 29 July 2020 23: 29 New
              +2
              And more is not necessary. I would leave one bank altogether: the State Bank. Point.
  2. Deniska999
    Deniska999 28 July 2020 15: 12 New
    +6
    The devaluation of the ruble against the dollar is still ahead. And given the current initiative of the Ministry of Finance, they will begin to take away deposits from everyone in a row.
    1. Odysseus
      Odysseus 28 July 2020 15: 32 New
      +9
      Quote: Deniska999
      The devaluation of the ruble against the dollar is still ahead

      Why ahead? For a month after "zeroing" with slightly rising oil prices, the euro (and the dollar) smoothly rose from 79 to almost 85 per ruble. Since the beginning of the year, by 23%. With all that it implies.
      The authorities, of course, will save the raw material monopolies, but to lower the ruble too much, what then is to live on? After all, we live by imports.
      1. Deniska999
        Deniska999 28 July 2020 15: 40 New
        +2
        I think the process will continue further.
      2. Lexus
        Lexus 28 July 2020 15: 44 New
        +7
        hi Rospozorstat says inflation is only 3%. Let's overtake Zimbabwe. what
        1. Odysseus
          Odysseus 28 July 2020 15: 48 New
          13
          Quote: lexus
          Rospozorstat says inflation is only 3%. Let's overtake Zimbabwe.

          I come to the store and immediately demand to sell potatoes with a 3% mark-up to last year. With reference to Rosstat.
          Everyone starts to applaud violently, many even wipe away a tear.
  3. parusnik
    parusnik 28 July 2020 15: 23 New
    +8
    Somehow, against the background of this article, it seems that the denomination will come unexpectedly ...
    1. SRC P-15
      SRC P-15 28 July 2020 15: 31 New
      -1
      Quote: parusnik
      Somehow, against the background of this article, it seems that the denomination will come unexpectedly ...

      Ordinary people, for the most part, do not have deposits in banks, spit and grind on this denomination. It should be feared by those who have undeclared income and large bank accounts.
      1. Deniska999
        Deniska999 28 July 2020 15: 41 New
        +7
        Yes, that's right, what really, a good citizen is a poor citizen, the rest are in the furnace ...
        1. SRC P-15
          SRC P-15 28 July 2020 15: 46 New
          -1
          Quote: Deniska999
          Yes, that's right, what really, a good citizen is a poor citizen, the rest are in the furnace ...

          To keep the rest out of the furnace, they must be honest citizens, like the poor, otherwise they would also have money.
          1. Deniska999
            Deniska999 28 July 2020 17: 46 New
            +6
            Well, yes, a good programmer who receives 100k, against the background of a seller who receives 20k, looks, according to your logic, a terrible villain and a deceiver.
      2. Fibrizio
        Fibrizio 28 July 2020 16: 00 New
        +7
        These guys have invested in currency, gold and stocks, they are not fools to keep millions of dollars. But ordinary people who have on their account 1-3 million accumulated for half their lives, they, yes, they will.
        1. SRC P-15
          SRC P-15 28 July 2020 16: 11 New
          -5
          Quote: Fibrizio
          But ordinary people who have on their account 1-3 million accumulated for half their lives, they, yes, they will.

          People who have 1-3 million on their account are no longer ordinary people, they are rather rentiers (living on interest). And yes, you think the denomination will not affect the stock price?
          1. Fibrizio
            Fibrizio 28 July 2020 16: 20 New
            +5
            Okay, what can this money buy nowadays? A car above average (for three), a studio in the suburbs ???
            At 5% (and now they give less than 5) per annum from three and this is 150k per year (minus inflation for example 4%). Such a contribution will allow, at best, not to lose (and this is subject to the stability of the exchange rate).
            What kind of rentier are we talking about? Are you going to live as a family for 150k a year?
            In my understanding, a rentier is for at least a couple of three to rent (apartments) within the TTK with good repair, well, or a room in the center of Moscow, squares 400 ... There really can not work.

            Your second thesis is about shares. How will the wrapper denomination affect BP, Shell or Intel? No, if, of course, you decided to support domestic companies, then there may be popandos.
            But you have to think with your head =)

            And as for the amount, it is quite earthly, my grandmother / grandfather died, they sold a house / apartment / car, a total of 1,5 million came, this is quite earthly money. Look at how much new cars are selling now, it will become bad.
          2. Pereira
            Pereira 28 July 2020 16: 31 New
            +6
            SRC P-15 (Alexander)
            You did not understand. 1-3 million is rubles, not euros.
          3. Ross xnumx
            Ross xnumx 28 July 2020 16: 31 New
            +6
            Quote: SRC P-15
            People who have 1-3 million on their account are no longer ordinary people, they are rather rentiers

            Fucking! To earn 150 (000 minimum wages) on interest on the deposit, you need to have at least 12 ... It is in Moscow that the swindlers go to the “pensioner grandmother”, ask for a drink of water, and when she realizes, after they leave, 5 “lyamas” the cow licked her tongue. There you can rent out housing, you can get a Moscow allowance ...
            In Kuzbass, the salary promised by the president is not received. And the people there are like flies ...

            According to Rosstat, the population of the region is 2 people. (657).
            1. SRC P-15
              SRC P-15 28 July 2020 16: 42 New
              -9
              Quote: ROSS 42
              Fucking! To earn 150 (000 minimum wages) on interest on a deposit, you need to have at least 12 ... It is in Moscow that swindlers go to a “pensioner grandmother”, ask for a drink of water, and when she catches herself after they leave, 5 “lamas” cow tongue licked. There you can rent out housing, you can get a Moscow allowance ...
              In Kuzbass, the salary promised by the president is not received. And the people there are like flies ...

              This is what I am trying to convey: ordinary people do not have 1-3 million in the bank. They gave me an example about Moscow - but most of Russia is far from Moscow! And 10 thousand of accrued interest from the bank account would be of great help for them! In many villages, people generally live on the pension of their parents and grandparents. And "Toyota" And "Mersov" in the outback you will not see, unless only a 30-year-old year of release.
              And you won't sell a house in the village for 3 lem!
              1. Fibrizio
                Fibrizio 28 July 2020 16: 50 New
                +2
                My mother-in-law and father-in-law in a village in the Krasnodar Territory sold an ordinary brick house for 1,5. Grandma is dead. We took a shabby little machine (but a new one). Life is not only within the Moscow Ring Road.
                1. Malyuta
                  Malyuta 28 July 2020 17: 29 New
                  +5
                  Quote: Fibrizio
                  Life is not only within the Moscow Ring Road.

                  Evil tongues claim that there is life on Mars too.
                  1. Lexus
                    Lexus 28 July 2020 17: 45 New
                    +7
                    Evil tongues claim that there is life on Mars too.

                    hi Colleague, "getting up and down" for the "patriots" is fraught with painful separation from the "nipple", because "their vision" is enough for them.
                    1. Malyuta
                      Malyuta 28 July 2020 18: 12 New
                      +6
                      Quote: lexus
                      "getting up and down" for the "patriots" is fraught with painful separation from the "nipple", therefore, "their vision" is enough for them.

                      Greetings Comrade! "take a deep breath, wider, squat, three or four" laughing
                      Here on VO there are many of our fellow citizens who confidently "get up the rock" every day, they do it proudly 24 * 7 * 365 * 20 !!!
                      You can imagine how much mental, moral and physical strength they spent on this and didn’t get up, the pose of the "Degtyarev" machine gun had already become familiar to them, however ...
                      1. Lexus
                        Lexus 28 July 2020 18: 24 New
                        +5
                        not a fig stood up, the pose of the "Degtyarev" machine gun has already become familiar to them

                        You saw the milking process, say, a goat. So they have a similar "event". Only the hands are occupied with the keyboard / gadget (as in one well-known clip and other "films"). wink
              2. Malyuta
                Malyuta 28 July 2020 17: 19 New
                +6
                Quote: SRC P-15
                In many villages, people generally live on the pension of their parents and grandparents. And "Toyota" And "Mersov" in the outback you will not see, unless only a 30-year-old year of release.
                And you won't sell a house in the village for 3 lem!

                I am very sorry, but why don't you shout urrryayaya to Putinism?
                After all, his achievements are obvious even to you, and you are also voiced.
    2. DenZ
      DenZ 28 July 2020 15: 47 New
      +1
      Quote: parusnik
      Somehow, against the background of this article, it seems that the denomination will come unexpectedly ...

      Well, she usually comes.
    3. Svarog
      Svarog 28 July 2020 17: 21 New
      +5
      Quote: parusnik
      Somehow, against the background of this article, it seems that the denomination will come unexpectedly ...

      And when we were warned in advance .. Money loves silence .. An unexpected event will happen, the guarantor will come forward and ask you to treat with understanding .. Personally, I basically started keeping money in cash .. only I throw small amounts on the card .. I feel that it will happen. ...
    4. New
      New Year day 28 July 2020 18: 38 New
      +5
      Quote: parusnik
      .... the denomination will come unexpectedly ...

      why unexpected? The only question is the date
  4. From Tomsk
    From Tomsk 28 July 2020 15: 54 New
    +7
    "One can complain that deposits are becoming less and less profitable. But if citizens and businesses get a rare opportunity to reduce interest on loans, this will give an additional synergistic effect."
    It's interesting which one? If a person has several million rubles on deposits, why would he take a loan? That's right, a person will take a loan in order to somehow close a hole in his budget. That is, the poor will become even poorer, and the rich - richer, that's the whole effect.
    As for business, small businesses are not given loans, while the average one buys everything under lease agreements. For example, almost all forestry equipment is purchased from Finland, Sweden and other countries.
    Well, big business has its own banks.
    1. Fibrizio
      Fibrizio 28 July 2020 16: 04 New
      +2
      Strange logic. People (normal) take loans not for closing holes (this leads to default), but for making a serious purchase. Cars, apartments, treatment. And here the theme with a low% starts to play with different colors. I would not call a mortgage at 4-5% bonded, it is quite real. Throw in a down payment of 20-30% and improve your living conditions with a very reasonable overpayment. But certainly those who live from salary to salary are not cold not hot.
  5. garri-lin
    garri-lin 28 July 2020 16: 37 New
    +5
    Inflation, official and unofficial, vary widely. How to deal with this?
    1. Fibrizio
      Fibrizio 28 July 2020 16: 41 New
      -1
      buy currency laughing
      1. garri-lin
        garri-lin 28 July 2020 17: 50 New
        0
        I'm not talking about that. In fact, the rate is less than the actual inflation.
      2. Arthur 85
        Arthur 85 29 July 2020 23: 22 New
        0
        Gold. Investing in real estate with such a rate is already pointless. Only precious metals remained, there is no other investment today.
        1. Fibrizio
          Fibrizio 31 July 2020 09: 33 New
          0
          Just do not forget that when buying precious metals physically (in bars, coins, etc.), you pay 18% VAT. And if you take virtual metal (no VAT) - if everyone gets a kerdyk, then no one will give it to you or simply "denominate" the payment
          1. Arthur 85
            Arthur 85 31 July 2020 14: 34 New
            0
            I know that, but what are the options? I no longer believe in the dollar, but it has depreciated 40 times since Nixon's time. Last year there was a cartoon that the VAT on gold would be abolished, I was really glad, but no, they did not. It’s people who will be able to accumulate something really eternal, not candy wrappers, and not lines in the computers of the bank! It is unacceptable...
            1. Fibrizio
              Fibrizio 31 July 2020 15: 00 New
              +1
              In fact, gold bullion is only relevant for the conservative preservation of a huge amount that you do not need tomorrow or in 5 years.
              While your topic is pound / euro / dollar (the latter is now under an easy question).
              And in order to understand whether it is profitable for you or not, look at the dynamics over the past 5 years in relation to the ruble, and you will see that on average you will still be in the black (and even more than the contribution in rubles or gold, including VAT).
              If you're not into stocks, this is your only option. (+ money sometimes hangs with stocks, you also can't convert it right away).

              If you don’t believe in global collapse, invest in virtual metals. Sberbank does this, but there is a difference between buying and selling.
              1. Arthur 85
                Arthur 85 31 July 2020 15: 58 New
                0
                Basically yes, I meant "long" savings. I used to save up for another apartment to rent, and never work again, or at least not work in a responsible job. And now I don't even know, but why would I save up - for a beautiful marble monument and a place in the cemetery in Jerusalem? Cars, resorts and all that interest me a little. I have all the household appliances. Unless only in case of unemployment.
                As for the shares, they are in fact denominated in rubles or dollars. Both are pretty dubious investments. I am not a specialist, but I heard that there is such a thing in JSC as an additional issue. I didn't go into the details, but this smells of deception a mile away ...
              2. Arthur 85
                Arthur 85 31 July 2020 16: 05 New
                0
                By the way, just in case, if someone inexperienced reads our thread, personal income tax is paid from the sale of gold, if it has been owned for less than 3 years. And then someone else will be punished.
  6. Fibrizio
    Fibrizio 28 July 2020 16: 40 New
    +1
    Quote: ROSS 42
    According to Rosstat, the population of the region is 2 people. (657).

    Judging by the neighbors in my residential complex near Moscow, your fellow countrymen piled up to us, those who are faster and do not have a normal income in their small homeland. I am the only Muscovite on the floor (4 apartments), the rest are not even from Moscow Region.
    If you take them back, I will thank you, though they are unlikely to want.
    1. Lannan Shi
      Lannan Shi 28 July 2020 17: 12 New
      10
      Quote: Fibrizio
      Judging by the neighbors in my residential complex near Moscow, your fellow countrymen piled up to us

      Laponka, this year the population of the Russian Federation is decreasing by 1467 people a day. Minus 221,3 thousand in January-May. Maybe someone dumps into your entrance, but the main flow of immigrants goes along the route of the house-cemetery.
      1. Svarog
        Svarog 28 July 2020 17: 22 New
        +5
        Quote: Lannan Shi
        The main flow of immigrants follows the house-cemetery route.

        He laughed at the figure of speech .. although of course it's not funny .. good hi
      2. Fibrizio
        Fibrizio 28 July 2020 17: 23 New
        +4
        I'm heterosexual if anything. Wrong address.
        At the cemetery and over the hillock, people are also knocking down, of course, but in Moscow in 90 there were 8,8 million, and now it is only officially 12,5 million (which means that it is not official yet 2-3). The city has increased by half. Do you think you have given birth?
        Well, MO has increased by a million according to Wikipedia (to be honest, I think much more, judging by the volume of development). So they go and how. I would say they only run their heels sparkling.
      3. DED_peer_DED
        DED_peer_DED 28 July 2020 21: 13 New
        +2
        this year the population of the Russian Federation is decreasing by 1467 people a day.

        This is the quintessence of our modern life.
        On the bus route sign.


        The film "Chinese grandmother" with the participation of Alexander Mikhailov and the last game of Irina Muravyova.
        Who has not watched, I strongly advise ...
  7. Tank jacket
    Tank jacket 28 July 2020 19: 20 New
    +3
    The Central Bank too zealously fulfills the requirements of the IMF, which prohibits investments in rubles, prohibits restricting currency speculation and the withdrawal of capital ...
    The central bank requires banks to issue loans on collateral - and therefore they don't even open design departments. Why would they? The problem is that small and medium-sized businesses have no collateral. In addition, it should be noted that the policy of the Central Bank is such that [banks] assess collateral at 30-50% of market value. As a result, they actually endanger any company that receives a loan from being raided. Because it is more profitable for the bank to do so that the company cannot pay off and then take its collateral. The bank then gets more and immediately, instead of waiting for the client to pay everything. As for big business, it also has problems. The larger the bank, the larger the business must be in order to be protected from raider takeover.
    1. DED_peer_DED
      DED_peer_DED 28 July 2020 21: 24 New
      +1
      To drive everyone (both business and private traders) into debts and loans is a directive from the very top.
      And, the top of this installation was lowered from "the very top".
      It is possible to keep everyone in check.
    2. Arthur 85
      Arthur 85 29 July 2020 23: 20 New
      0
      No, because bail is usually
      , cannot be sold, neither at book price, nor at any price.
  8. Petrol cutter
    Petrol cutter 28 July 2020 19: 45 New
    +3
    "And the paradox is that the main demand comes from entrepreneurs and banks, and not from the end consumer. Although he, an ordinary consumer, for all his poverty, having emerged from quarantine, is simply forced not to skimp on expenses."
    Really. Paradox. I'm not even afraid of this word "squiggle"!
    And it never occurs to any professional from economists / financiers that an ordinary consumer simply has no money? In order to shuffle after the quarantine, then?
    Doesn't it occur to any of the same professionals that if your schemes do not work, then these are erroneous schemes, and erroneous calculations of the standard of living in the country?
    I work in production and my maximum error is two / three millimeters. Three is already a bit too much, for five, they will punish me with a ruble so that you will continue to measure twenty times.
    Why is it wrong THERE? Some experiments are being put on you (as one of my colleagues says) and unsuccessful ones. And no one has anything for this ...
  9. DED_peer_DED
    DED_peer_DED 28 July 2020 21: 02 New
    +1
    Next to my communal two-story house there is a shop for the production of plastic windows.
    New Russians ... The land is all of them, everything around them and we generally live on their land.
    Often they organized "holidays", partying until late at night, brought geese (geese in the city ...) who walk by themselves and crap ... etc. etc. painting by Repin.
    All this for many years before the coronabesia.
    Now.
    Mehruk arrived today and cut them off from the power grid.
    Cool.
    I think it's not just them that sucks.
  10. Mikhail3
    Mikhail3 29 July 2020 12: 13 New
    +3
    The financial sector is also teetering on the brink of survival
    You don't have to read further. The miserable financial sector has profited heavily from the coronavirus crash - everyone is drowning and banks are showing huge profits. Lying chatter instead of financial and economic analysis - this is enough for me and on other resources.
  11. Knell wardenheart
    Knell wardenheart 29 July 2020 23: 00 New
    0
    The fact that the interest on deposits was reduced would not be so sad - if the "tax on deposits" were not looming on the horizon, all this in total could bring much more people into currency than they usually sit there.
    A ruble vacuum is forming - how will the banks issue these deshman loans? The idea doesn't inspire ..
  12. Arthur 85
    Arthur 85 29 July 2020 23: 16 New
    +1
    I hoped that after March 8, when the ruble collapsed, Nabibulina would fly out of office, like Caliber from a container, but no - she also cut the rate twice. Twice, Karl! And for the fact that the ruble sank by 15%, more than one "leader" did not even apologize. They muttered something that "we are stopping to buy back the dollar" a month after the fall. Oh, dear fathers!
    I will not even say that credit is evil, that credit should not exist as a phenomenon, especially consumer credit. That one should consume only the earned money, and build a candle factory, only with the diamonds found by Ippolit Matveyevich, and not on credit ... They won't understand, sir.
    Just one smart thing to write: where is the 2-4-5% inflation? In which store did you see this?
    In general, on the pediment of the Central Bank in meter letters it is necessary to write: "in any incomprehensible (that is, simply - in any) situation, play to raise the ruble."
  13. Maki maki
    Maki maki 30 July 2020 23: 52 New
    14
    Finally, the Central Bank began to live up to expectations.