Russian economist: Liberal monetary authorities are keeping our country in a “wild money famine”

One of the main paradoxes for the West recently has been the Russian economy. While the United States and its allies were counting on a severe recession in Russia, our economy, on the contrary, is showing growth.

But how is this possible given the enormous costs of the Northern Military District, which Kyiv’s Western allies provoked and are now trying to delay in every possible way?

The answer to this question was given by Russian economist Mikhail Khazin. According to the expert, everything is actually simple. As he put it, the Russian economy has been “terribly underinvested” for many years, as liberal monetary authorities have kept our country on a “savage cash famine.”

Now, in conditions of conflict with the entire collective West, financial injections into industry are the only measure. As a result, our economy, which received a monetary boost, is showing rapid growth, which currently exceeds expenditures on SVO. Such is the paradox.

At the same time, Khazin added that economic growth is still seriously constrained by the high discount rate. For example, if it were lowered to 3% today, the country’s economic indicators would show even stronger positive dynamics.

But as long as liberals control finances in our country, unfortunately, this will not happen.

- the expert summed up.

Moreover, during his interview Radio Sputnik Mikhail Khazin touched upon such an important and pressing topic for our fellow citizens as pensions.

The expert recalled that many years ago he said that in the future pensions in Russia would not be able to provide a more or less decent standard of living. Therefore, Russians should think about an alternative to provide for themselves in old age.

According to the economist, he sees two ways to solve this problem. The first is to have more children to have support in old age.

The second is to create savings. The best way, in his opinion, is to buy bank gold coins.

As Khazin put it, gold will never depreciate. Moreover, its cost will only increase.

But, you need to buy coins in physical form, and not electronically (the purchase occurs through the program, and the gold is in the bank). This will allow you to avoid a situation with a software “failure”, after which it turns out that you are not the owner of the precious metal.

Comments

[Myths]

Precious metal should be kept in a bank, well buried underground) and not with rates for storing the bank)
Have more children, what good advice, provided that the child needs to be fed, raised, taught and well clothed.

[Asad]

I thought about buying palladium from Sberbank, but the price has fallen and will soon catch up with platinum. I looked at the spread and changed my mind.

[credo]

I would respect Khazin if he said about his pension: “I don’t particularly rely on the state and a pension from it, so I’m raising seven children and buying gold (platinum, silver and other precious metals) in bullion.”

And so it turns out that a person who has one child and who, judging by his previous work, has earned himself a good state pension for his old age, advises everyone else who couldn’t do it like him to start having children, sit on state benefits, take out a mortgage at draconian interest rates to improve their housing conditions, decide whether or not to spend money on children’s education and spend the remainder of earnings (if a large family has them, of course) on gold.

A visionary, and nothing more. Is his child the only one who follows his advice or is this advice only for strangers?

[ARIONkrsk]

Quote: credo

I would respect Khazin if he said about his pension: “I don’t particularly rely on the state and a pension from it, so I’m raising seven children and buying gold (platinum, silver and other precious metals) in bullion.”

And so it turns out that a person who has one child and who, judging by his previous work, has earned himself a good state pension for his old age, advises everyone else who couldn’t do it like him to start having children, sit on state benefits, take out a mortgage at draconian interest rates to improve their housing conditions, decide whether or not to spend money on children’s education and spend the remainder of earnings (if a large family has them, of course) on gold.

A visionary, and nothing more. Is his child the only one who follows his advice or is this advice only for strangers?

In the 90s, he could not, like others, sell the country and betray his beliefs, for which he would have been fired from power with a black mark and could barely make ends meet, because... because he criticized the liberals, they didn’t get a job and it was difficult, and according to your starving family, you had to give birth to more.
What he advises is based on today's realities.

[credo]

In the 90s, he could not, like others, sell the country and betray his beliefs, for which he would have been fired from power with a black mark and could barely make ends meet, because... because he criticized the liberals, they didn’t get a job and it was difficult, and according to your starving family, you had to give birth to more.
What he advises is based on today's realities.

I wrote you a detailed answer, but VO licked everything, so I can briefly say only one thing - Khazin’s advice has nothing to do with today’s realities.
Yes, he is a sensible and intelligent person, but it seems that he advises this only so that there is simply at least some advice without reference to our lives.

[Saburov_Alexander53]

But what about the recent recognition of Nabiullina as the main savior of the Russian financial system and, as a result, the stability of the economy?
I'm already damn tired of this squabble between the "Kremlin towers", and everything falls into place when you clarify who nominates the head of the Central Bank (the President) and who approves her (the State Duma). And why doesn’t Khazin or Solovyov, and the same Babakov, on his programs, stop attacking the Central Bank and the Ministry of Finance, and ask directly those who rule the country?
By the way, Khazin and Babakov have the opportunity to ask this question on “Direct Line” on December 14... go ahead and sing! But he won’t ask!!!!!!!!!!!!!!!

[Myths]

A reasonable person will think before doing something. They're not in a suicide club.

[Saburov_Alexander53]

Those. Khazin is reasonable and understands everything, without naming the name of the main person who shapes financial policy in the country. And he prefers to quietly pull the cat’s tail, blaming the Central Bank and the Ministry of Finance as culprits. What is he afraid of? Who needs it?
Glazyev, being an adviser to the president, was not afraid to openly attack the Central Bank, but after many years of useless struggle, he gave up and went to teaching, realizing who the president was here for.
Or when Babakov praises the work of the Government, which, despite the actions of the Central Bank, is achieving success in the economy, I wonder where the President is looking and why does he allow “swan, crayfish and pike” in government?

[Stas157]

Quote: Saburov_Alexander53

Should I ask directly those who rule the country?

And everything will change immediately??

Now you can sit down with your tongue easily. Strelkov is in prison for his words and no one knows when he will be released!

[Saburov_Alexander53]

Now you can sit down with your tongue easily.
If Khazin suddenly says that if the President did not approve of the policies of the Central Bank and the Ministry of Finance, he would not nominate Nabiullina as the head of the Central Bank for another term. Do you think Khazin will be imprisoned for such a statement of the obvious? I'm sure NO!!!!!!!!!
But Khazin, like Babakov, simply does not have the courage to tell the truth that is obvious to everyone.
I do not exclude that if the Central Bank began to act as these critics suggest, the country’s economy would go into disarray, and at the same time there would be no demand for Khazin and Babakov. I remember how Khazin, ten years ago, stubbornly buried the United States, predicting in the next couple of years the exit of the confederation of the richest States of California and Texas. Well...?

[Stas157]

Quote: Saburov_Alexander53

Do you think Khazin will be imprisoned for such a statement of the obvious?

I think no. Do you think that the president does not know the whole truth and has illiterate advisers? I don't think you think so either. Therefore, nothing depends on what Khazin says there. Besides, it is not customary in the kingdom of distorting mirrors to criticize the president’s line. You can easily find yourself in the camp of those who don’t shake hands and those who fight.

[Saburov_Alexander53]

So I’m talking about the same thing... Why then every evening on all the talk shows they talk about the treacherous policy of the Central Bank, which runs counter to the interests of the state? They demand to come to the program and report openly to the people about their “sabotage activities”....
Why are these figures (Khazin, etc.) disturbing the people and causing a split in the president’s policies? If only these were oppositionists from Yabloko or Navalnyat, but no!!! They are the most patriots and supporters of the President..., but at the same time they are fundamentally against his approval and agreement with the actions of the Central Bank. And with how many votes “FOR” did the Duma vote for the extension of Nabiullina’s powers? It would be interesting to know how Babakov voted.
It is precisely this kind of two-facedness that I do not understand on the part of these figures.

[Yuri Vasilyev]

The fact that the child “needs to be fed and clothed” is an excuse from lazy and selfish individuals. All previous generations did this in much worse conditions and gave birth to more children and somehow fed and clothed everyone.

[Arkadich]

Reduce the discount rate? But he doesn’t suggest how to keep inflation down?
Buy coins? Is he aware of spreads? And the fact that on coins, especially from the St. Petersburg mint, defects appear during long-term storage and when sold to you, they will reduce the price, he also seems to be unaware.

[Myths]

I think he knows, but why not talk)

[malyvalv]

Khazin and other Delyagins are lobbyists for big business. No matter how much money you give them, it’s not enough. And preferably at a zero rate. Everyone must pay for this by paying an inflation tax.
Coins from St. Petersburg have long been normal. This story happened more than 10 years ago. If you hold gold for years, then the spread is not so important. Money is saved guaranteed.

[paul3390]

But he doesn’t suggest how to keep inflation down.

What is there to offer? The problem with our type of financiers is in the system itself. Because as soon as cheap ruble loans appear, they will immediately buy up all the currency and take it abroad. With all the consequences.

One thing follows from this - the stupid liberal theme of the free purchase of currency - must be destroyed. Just like the currency exchange itself. And introduce strict control over foreign trade. So that any foreign exchange contract is clearly secured by contracts for the supply of goods under it, with specific responsibility for any fraudulent fraud. Currency should leave the country only for the supply of goods necessary for the country. No currency speculation. Otherwise, this total robbery will be eternal..

But alas, with our current leadership this is basically impossible. Hence the conclusions.

[Arkadich]

Those. are you proposing a version of “war communism”?
You are in vain looking for the root of evil in dollars; ban them; in order to save them, people will take other currencies, real estate, jewelry, etc. and this will still spur inflation.

[The popuas]

Yeah...opened my eyes this has been visible to all sane people for decades

[Cheerock]

Has Khazin already found an atomic bomb in Gostomel? )))

[rocket757]

This is what is stable, constant... what Khazin says and advises.
To say that he is right or wrong about everything... the truth is still somewhere in the middle, as usual.

[GRIGORIY76]

The same “expert” who has been predicting the collapse of the dollar for 25 years...
If our liberals wanted to shut down the economy, they would have done it, sanctions would have been a good help to them.

[Bolt cutter]

give birth to more children to have support in old age.

And this is what the economist says ?

[Waldemar Peters]

What if he himself can do something else?
That's why he says it!

[Conrad1045]

The best way, in his opinion, is to buy bank gold coins.

Gold bars and investment gold coins are different products. If you do not store it in a bank, then you need to buy it at a refinery.

[Alexey Lantukh]

However, the price of gold coins in banks is overpriced and their gold circulation is not established and where to store them. Therefore, they are only suitable as gifts.

[Saffron]

Such is the paradox.

No paradoxes. It’s just that Russia is now doing what it was not allowed to do before - printing money (and now it simply doesn’t ask anyone and that’s why they hate it, and not for the Ukrainian conflict). This was allowed by the US, the EU and a few others. Previously, Russia, as part of the global capitalist system, had to send part of the money to the West (let's call this a tribute to the liberal system). Now this money remains in Russia in the form of growth in the money supply. To make it clearer, look at the increase in the money supply of the Russian Federation in 2022-2023 compared to previous years. Understanding that the money supply is approximately equal to the country’s GDP (ideally), everything will fall into place and it will immediately become clear how much “contribution” we made to the comfortable life of the Western system. Now everything is different and you shouldn’t be surprised why there is enough for the Northern Military District and previously started large projects continue and do not stop, and many new ones are planned.

[paul3390]

give birth to more children to have support in old age.

And - what? My children already have their own. Why should I help them? Without my help, they would have pulled out so many small pieces of shit. Nonsense.

[Tikhonov_Alexander]

Khazin sees “two ways to solve this problem. The first is to have more children in order to have support in old age.
The second is to create savings. The best way, in his opinion, is to buy bank gold coins."
For residents of Moscow and St. Petersburg, the ways indicated by Khazin to maintain a decent standard of living are most likely real. What about the residents of Russia?

[Alexey Lantukh]

Of course, you can buy gold, but only for those who have a lot of extra money, since the circulation of gold in Russia is not established.

[Amateur]

When you watch or read something about Russian finance, you inevitably remember a wonderful cartoon. It discussed finances more competently than the Central Bank of the Russian Federation.

[Russian Patriot]

So all our power is liberal.
Putin is a pure liberal! There is no need to have any illusions about our government.

[Belousov]

Khazin apparently believes that he gave birth to a child and forgot about him until his own retirement? And this is like a “prominent economist”

[Jacques sekavar]

This guy is as much an economist as I am an astronaut.
“As of October 1, 2023, the value of the M2 monetary aggregate (the amount of cash and non-cash money in circulation) amounted to 90.597,3 billion rubles. In rounded figures, 90,6 trillion rubles.
At the beginning of September, this figure was 90,1 trillion rubles. And at the beginning of 2023 – 82,4 trillion rubles.
Over the month, the increase in the money supply amounted to approximately 0,5 trillion rubles, over three quarters (January – September) – 8,2 trillion rubles. If we compare the value of the M2 monetary aggregate as of October 1, 2023 with the indicator as of October 1, 2022, then the increase in the money supply on an annual basis amounted to as much as 20,6 percent!”
10.11.2023/XNUMX/XNUMX V.Yu.Katasonov. Economy of modern Russia

[Alexey Lantukh]

The problem is that both Khazin and Kasatonov are far from the real economy. Here we have inflation (price rises), and a decent one at that. Why? The answers are simple: so much money is put into circulation that it is not covered by goods - one answer; second, the increase in the exchange rate of foreign currencies leads to the fact that imported products have become more expensive, and significantly so.
It is also wrong to say that if you pour more money into the economy, there will also be “more” growth. With the growth of the economy, it is possible to properly invest only in the investment part of the economy, i.e. for the construction of enterprises, the acquisition of more advanced equipment and materials, the training of real personnel, and not people just with diplomas, the introduction of advanced technologies. But if you just pour (distribute) a lot of money just like that, or to failed enterprises, then it will lead to nothing but harm. And one moment. I am suspicious of the growth figures for our economy over the past two years, because this happened at the expense of military production. And the production of weapons is work to destroy the economy.

[steelmaker]

"Our economy, on the contrary, is showing growth."
How does this growth affect the well-being of the people? People should feel this growth somehow. It’s good if our government doesn’t want to raise wages and pensions, but it’s possible to stop rising prices. Our economy is growing. But talk about economic growth and at the same time regularly increase prices for everything: food, gasoline, mortgages! There was no conscience here! And it turns out that this growth benefits only billionaires.

[Andrey Nikolaev_4]

Who told you that he doesn’t want to increase pensions? From January 1 by 7,5 percent, isn’t that an increase? And it’s not the government that raises prices (we don’t have the USSR, where prices were raised centrally “in order to streamline at the request of the workers”)—we have trade, banks, gasoline, these are all private shops

[Iris]

Misha Khazin has been saying the same thing for three decades: the dollar is an unsecured piece of paper, and therefore starting next Tuesday (maximum Wednesday) it will cost 20 kopecks. Once I had the opportunity to talk with him and I asked him directly: in what currency does the economist Khazin keep his savings? He answered without hesitation: “Well, I’m a Jew!”

[Slon1978]

Yes... funny and very educational. Our experts and well-wishers are like that.

[Andrey Nikolaev_4]

If the rate is reduced to 3 percent, where will the dollar go? Around 150? And what will inflation be like then? And what’s the point of that economic growth and whether it will happen? It’s good to give global advice when you yourself are not responsible for anything

[Andrey Nikolaev_4]

Khvzin openly turns on the fool, giving advice on lowering the discount rate: before our eyes is a vivid example of Turkey, where Erdogan fought inflation in an unconventional way, lowering the discount rate and hoping that thanks to this powerful economic growth would reduce inflation. As a result, he depreciated the lira by 3-4 times, received an inflation rate of 40 percent last year and has now returned to traditional financial policy, as a result, the discount rate of the Turkish Bank today is 40 percent. Khazin cannot but know this, which means he is deliberately bringing a blizzard or has dementia

[Repellent]

Quote: Andrey Nikolaev_4

as a result, the Bank of Turkey discount rate is currently 40 percent

How??? Don’t tell Ross-42, he’s got enough of his bullshit... Nizya, he’s already aged

[Jonny_Su]

What Khazin offers is Argentina. Tens of percent per year inflation, depreciation of the ruble, poor population. Nabiullina and I were lucky.

[Jonny_Su]

What Khazin offers is Argentina. Tens of percent per year inflation, depreciation of the ruble, poor population. Nabiullina and I were lucky.

[Slon1978]

Economic growth, as such, CANNOT BE a priority and goal if, simultaneously with this growth, there is a decline in the standard of living of the population. What Khazin advises - to reduce the discount rate to 3% - is complete insanity and illiteracy. At the level of demagoguery from S.Yu. Glazyev. Yes, the economy will benefit if the discount rate is reduced to 3%, but inflation will be good if it is 25-30%, but most likely 50-60%. When we talk about economic growth in SUCH a situation imagined by Khazin, then it can be translated into simple language something like this - managers and shareholders of large, mostly monopoly, private and state-owned enterprises will receive ultra-cheap investments and then (but only after 2-3 year) will receive excess profits and, accordingly, dividends. At the same time, already in the first year of this catastrophe, inflation will reach 1-50% and when, after 60-1 years, part of this super-profit will be directed to increasing the salary fund of ordinary workers, then their real standard of living by that time will drop so much due to inflation, that an increase of 3-20% will not even approximately compensate for this. Nabiullina is doing her job well, at least in the current difficult conditions, and Khazin needs to be kept away from decision-making.

[Quzmi4]

(c) "Beat the people, save the economy!"
The slogan is recognized as extremist and calling for the violent overthrow of the existing system.

[Alexey Lantukh]

The problem is that both Khazin and Kasatonov are far from the real economy. Here we have inflation (price rises), and a decent one at that. Why? The answers are simple: so much money is put into circulation that it is not covered by goods - one answer; second, the increase in the exchange rate of foreign currencies leads to the fact that imported products have become more expensive, and significantly so.
It is also wrong to say that if you pour more money into the economy, there will also be “more” growth. With the growth of the economy, it is possible to properly invest only in the investment part of the economy, i.e. for the construction of enterprises, the acquisition of more advanced equipment and materials, the training of real personnel, and not people just with diplomas, the introduction of advanced technologies. But if you just pour (distribute) a lot of money just like that, or to failed enterprises, then it will lead to nothing but harm. And one moment. I am suspicious of the growth figures for our economy over the past two years, because this happened at the expense of military production. And the production of weapons is work to destroy the economy.

[vvn_vl]

This means that this is very beneficial for someone! So does anyone else care?

[Stenolaz]

In tsarist times, the elite led to 1917, in Soviet times - to 1991. In a hundred years, it twice brought the country to the brink of national disaster. Is this possible in the USA? In the United States, a politician may appear who, having come to power, will say: “Let's be friends with Russia and, as a sign of friendship, give it Alaska, and also push back the NATO borders to the state of 1991? How long will he live after such a proposal? And after Putin leaves, another withdrawal is quite possible pants and raising their hands up. This is the kind of prostituted elite we have.