Military Review

China is approaching the currency basket

50
August is the time of financial crises. The Russians remember, for example, the "default" 17 of August 1998. August 2015 of the year is also not the best month for the ruble: the national currency is rapidly losing weight. From the beginning of July to August 11, his rate, as analysts of Kommersant noted, fell by 15%. This was promoted by the excitement of speculators who discovered two reasons for the game to fall: the unexpected decision of the Chinese Central Bank to reduce the yuan and the fall in oil prices (August 11 fell by 2,4%). As a result, the Chinese decision with a simultaneous fall in world oil prices hit the Russian ruble slightly.




August 11 The People's Bank of China lowered the so-called average yuan rate by 1,86% against the dollar, writes RBC. The Chinese authorities announced a “one-time correction” rate, however, 12 and 13 in August, the yuan rate was further lowered by 1,62 and 1,12%, respectively (to 6,4 yuan for a dollar, which is the minimum since July 2011).

From the beginning of July to 11 August 2015, the ruble exchange rate fell by 15%, notes Kommersant. Speculators were 11 and 12 in August, their games against the ruble, referring to an unexpected decision of the Chinese Central Bank to reduce the yuan. In addition to the yuan, speculators pointed to a drop in oil prices (August 11 fell by 2,4% to $ 49,18 per barrel).

Newspaper RBC notes that the decline of the yuan by 1,86% is an unprecedented step, because this year the changes in the daily “average rate” did not exceed 0,16%. In addition, such a change in the course is the largest movement of the yuan over the past twenty years, not caused (at first glance) by institutional changes. The last major changes in the exchange rate were explained: in January 1994, the rate was changed to 33% due to the merger of divided currency markets, and in July 2005, the yuan fell by 2,1% due to the change of the regime from fixed to the dollar to “conditionally floating” in relation to the basket of currencies of China’s trading partners. And from that day on, the daily limit of the yuan / dollar exchange rate appeared.

RBC claims that the Central Bank of China has actually changed its approach to exchange rate setting. Previously, the “average rate” was determined by a secret rule that linked the yuan to the currencies of trading partners, and the dependence was not known to the market, now the People's Bank claims that the “average rate” will be oriented, among other things, to the market rate of the previous day.

The actions of the Chinese National Bank led to a decline in the currencies of Asian countries. You need to know that from July 2014 to June 2015, the real RMB exchange rate against the PRC basket of trading partners strengthened by 13%, which reduced the availability of Chinese goods against the background of the increased competitiveness of other Asian manufacturers, which lowered their currencies against the dollar. RBC believes that the devaluation that has occurred is only a small correction to the prices of Asian partners. Interest therefore represents further movement of the course. Course game may lead to the acceleration of the still slowing Chinese economy.

The Chinese authorities have another task: the inclusion of the yuan in the currency basket to calculate the special drawing rights of the IMF. And for this, it is desirable, notes "RBC" that the exchange rate is determined by market pricing. And here it is important that the devaluation undertaken just leads to the side of the market rate. The decision on the structure of the basket is reviewed every five years, and the issue with the yuan will be decided in November.

Economists tend to believe that the three-day devaluation of the yuan will not stop.

How will the fall of the Chinese currency affect Russia? In the medium term, indicates RBC, the market exchange rate of the yuan will increase the likelihood of its inclusion in the IMF currency basket. As a result, the Central Bank of the Russian Federation will be able to use it as a reserve currency, and this will lead to a further increase in trade between the two countries.

It is interesting here and something else, add on my own.

First, the government is hardly going to stick to a “market” course. This game is only for the IMF. The course will continue to be regulated by bureaucrats. After all, on the fourth day of the games, the National Bank of China raised the yuan rate to the dollar by 0,05%. These are sheer trifles, but it can be concluded: Beijing has set a lower bound for the fall of the course.

Secondly, by cheapening its own currency against the dollar, the cunning government of the Celestial Empire clearly made some strategic decision. After all, now all the goods, the price of which is expressed in dollars, will cost China more expensive in yuan. First of all, we must, of course, talk about oil. And here the most suitable moment was chosen: because of the expected entry into the Iranian market, oil prices are falling, and China can afford to play with the currency.

Thirdly, this game will really allow China to artificially stimulate fading exports: after all, last July it fell by 8,3%. The reason for such a marked decline was the decline in demand for Chinese goods in the United States, Japan, and the countries of the European Union. Now, exporters will receive more yuan for their dollars than before; in addition, in dollars these goods will become more accessible for end users. True, the stick in the wheels of the Chinese can insert Asian competitors, also constantly playing with the rates of their currencies.

There are also the fourth.

“In Europe and Japan, the homeland of reserve currencies, quantitative easing and other factors led to the cheapening of the euro and yen. The euro has fallen by one-third since the start of 2014, about a third yen. Yuan, meanwhile, remained stable against the dollar, which led to the fact that the exchange rate of the yuan sharply lost its competitiveness against the currencies of its trading partners, ”the newspaper said. "Sight" opinion of experts of the American center "Stratfor". This fact also had a negative effect on China’s trade balance, its macroeconomic indicators. "China clearly makes it clear that it will not move in step with the States and allow its currency to trade lower if necessary," analysts say.

Financial analyst of FxPro, Alexander Kuptschievich, does not think that the PRC authorities will allow a sharp drop in the yuan's exchange rate: “The Yuan was only slightly released to float freely. For two days, the rate of the Chinese currency fell at some point by 6%, and now it is at 3,5% below Monday levels. By the standards of other currencies, the movement is trivial. Talking about some of the consequences for the economy can be possible only after fluctuations in 10-15%. I think that the yuan will continue to be more flexible, that is, not so strongly tied to the dollar, respectively, when the yuan falls, Chinese goods will become cheaper (in dollars). ”

What can we expect against the background of falling rates of the yuan and the ruble, as well as oil prices in Russia?

Kuptskevich predicts that the fall in oil prices and the rate are far from complete. “... In the course of this fall,” the analyst says, “oil can fall by half from the highs of June, that is, into the 25 area amid an oversupply of oil and a slowdown in global demand growth. The market usually goes too far, and only then settles on adequate levels. For oil, this mark seems to me on 40 for “Brent”, for the dollar / ruble pair - on 75. But before that, we can see a deeper retreat, during which a dollar can cost more than 80 for a while. ”

What do the experts think about the devaluation of the yuan and its reflection on the Russian economy?

“The devaluation expands China’s export opportunities, primarily to the United States,” said "Free Press" Andrei Ostrovsky, Deputy Director of the Institute of Far Eastern Studies of the Russian Academy of Sciences; Head of the Center for Economic and Social Research of China. “The idea is simple: the lower the yuan rate, the greater the volume of exports from the Middle Kingdom.” As for the situation in the Russian economy, the decision of the People’s Bank of China “does not have a tangible impact,” the expert believes. “The fact is,” he notes, “that the ruble is getting cheaper much faster than the yuan. Because of this, Russia is in any case unprofitable to import anything from China. ”

There is, however, a different opinion. "For Russia, the devaluation of the yuan is not too good news- Nikita Maslennikov, head of the Finance and Economics department at the Institute of Contemporary Development, told the publication. “The devaluation of the Chinese currency does not, at a minimum, improve our trading position with respect to the Middle Kingdom.”

According to the expert, the problem is that since the beginning of 2015, Russia has lost about a third of its turnover due to falling oil prices, a slowdown in the Chinese economy and a decline in global demand for crude oil. The result: the trade balance of the Russian Federation with China is negative. Reducing the value of the yuan means a premium for Chinese exporters. And if Chinese exports increase slightly due to devaluation, this will further worsen the balance of trade of the Russian Federation with the PRC.

According to the expert, China will try to reach the stated GDP growth in 7%, primarily for the sake of maintaining political reputation. But what next? The analyst assumes that growth due to devaluation will lead to overheating of the economy, which will give rise to even greater problems in the coming years. As for Russia, it’s 7% growth of the Chinese economy “do not make the weather,” the expert said. In fact, this is the 2014 indicator of the year, and today the situation in the oil market is much more complicated. As a result, the rise of the economy in China is unlikely to raise the price of "black gold".

As a result, we will add in conclusion, China will be able to solve three problems with the help of devaluation: by weakening the yuan, increase exports, press competitors, and at the same time declare market pricing, which fully complies with the IMF's guidelines. Beijing’s main goal is to introduce the yuan into the currency basket from January 1 2016. The relevant decision will be made in November.

Why did the decision of the Chinese National Bank turn out to be a surprise for the whole world, even for hard-boiled currency speculators? Very simple: the Chinese do not chat, but do.

Observed and commented on Oleg Chuvakin
- especially for topwar.ru
Photos used:
https://lori.ru/
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  1. VseDoFeNi
    VseDoFeNi 18 August 2015 07: 15
    13
    The ruble exchange rate DIRECTLY depends on oil prices. For doubters:
    www.finam.ru

    In the "commodity markets and currencies" block, click Brent.

    Click on the left - Comparison with ...

    In the upper block "select a market", select "ruble rate", to the right "USDRUB Central Bank rate"


    The situation will not change until the Central Bank and the entire banking system of Russia are nationalized. It is also necessary to nationalize the bowels and strategic industries.

    We live in a country that has lost the Cold War.
    And everyone should remember - you can not lose wars, arrange revolutions, coups and other Maidan !!!
    1. anip
      anip 18 August 2015 09: 01
      +1
      Quote: VseDoFeNi
      And everyone should remember - you can not lose the war, arrange revolutions, coups and other Maidan !!!

      And why was the 1917 revolution bad? After it, the Bolsheviks created the greatest state.
      1. VseDoFeNi
        VseDoFeNi 18 August 2015 09: 14
        +9
        Quote: anip
        And why was the 1917 revolution bad?

        The destruction of the Russian economy, the impoverishment of the people, the ruin of villages, emigrated engineers, scientists and other citizens (Sikorsky built helicopters for the good of the United States), mediocre surrender in the First World War, the loss of more than ten million of our citizens in the Civil War ...

        Quote: anip
        After it, the Bolsheviks created the greatest state.

        Under tsars, Russia grew in countries and peoples. Since 1917, Russia / USSR has been divided into 15 parts, three of which joined NATO against us, another in 2008 started a war against us, another today is trying by all means to draw us into the war to create the Third World ...
        1. anip
          anip 18 August 2015 09: 22
          +3
          Quote: VseDoFeNi
          Destruction of the Russian economy

          And she was, economy? No, she was, of course, but at what level?

          Quote: VseDoFeNi
          the impoverishment of the people, the ruin of villages

          Hospody, yes, finally, look at the photos of the people of the Russian Empire. Read the Russian classics, at least the same Turgenev, Tolstoy, Gorky, Saltykov-Shchedrin. See how 80% of the people lived. And then talk about impoverishment.

          Quote: VseDoFeNi
          the loss of more than ten million of our citizens in the Civil War ...

          Who started the civil war?

          Quote: VseDoFeNi
          mediocre capitulation in World War I

          Surrender ??? This is some new word in history. Nobel, definitely.

          Quote: VseDoFeNi
          Since 1917, Russia / USSR has been divided into 15 parts

          Tryndets ... And this man is still discussing something else.
          1. VseDoFeNi
            VseDoFeNi 18 August 2015 09: 25
            -1
            Quote: anip
            Hospody, yes, finally, look at the photos of the people of the Russian Empire.

            Dadada, where do you get the ten million civilian casualties?
            1. Sterlya
              Sterlya 18 August 2015 19: 04
              -1
              any normal economist understands that playing a dollar game is complete idiocy. the dollar is outside the economy. it is more of a politician. a game.
              1. atalef
                atalef 18 August 2015 19: 19
                +2
                Quote: Sterlya
                any normal economist understands that playing a dollar game is complete idiocy

                laughing
                play the ruble
                1. Car lover
                  Car lover 18 August 2015 22: 37
                  -2
                  from the author's article "the Chinese do not talk, but do", for some reason there is no continuation, "and the ruble is falling and falling, because it is a derivative of the oil price, since Russia does not produce anything more competitive and does not intend to."
          2. VseDoFeNi
            VseDoFeNi 18 August 2015 09: 29
            +3
            Quote: anip
            And she was, economy? No, she was, of course, but at what level?

            At the level of construction of modern warships and aircraft.

            Quote: anip
            Who started the civil war?

            The civil war was a direct consequence of the revolution.

            Quote: anip
            Surrender ??? This is some new word in history. Nobel, definitely.

            And what to call the "Brest Peace"? Victory?
            1. anip
              anip 18 August 2015 09: 35
              0
              Quote: VseDoFeNi
              At the level of construction of modern warships and aircraft.

              Look at the data on the construction of all this in Russia, and then in England, France, Germany.
              And then read the same data about the USSR and the rest.

              Quote: VseDoFeNi
              And what to call the "Brest Peace"? Victory?

              Forced separate world. Not a victory but also not surrender. By the way, do you really think that if Russia had become one of the winners then, would it have got anything from the winners pie?
              1. VseDoFeNi
                VseDoFeNi 18 August 2015 16: 19
                -2
                Quote: anip
                Look at the data on the construction of all this in Russia, and then in England, France, Germany.
                And then read the same data about the USSR and the rest.

                LeHko!
                Ilya Muromets (C-22 Ilya Muromets) is the common name for several series of four-engine solid-wood biplanes that were produced in Russia at the Russian-Baltic Carriage Works during 1913-1918. On the plane, a number of records of load capacity, number of passengers, time and maximum flight altitude were set.

                In 1903, the construction of the world's first marine non-reversible diesel engine with a capacity of 120 liters was carried out at the St. Petersburg plant. with. at 240 rpm and its installation on the first ship "Vandal".

                This event was a turning point in the development of the entire world shipbuilding.
                At the end of 1908, prof. Petersburg Technological Institute N.A. Bykov successfully tested reversible diesel engines, and in 1909 the first three reversible marine diesel engines of up to 300 liters were produced at the Nobel plant. with.
                The results of these works were announced at a meeting of the Society of Technologists in St. Petersburg on March 14, 1909.

                Etc...
                Quote: anip
                Forced separate world. Not a victory but also not surrender.

                Can you imagine if the USSR in January 1945 concluded such a world ???
                This is worse than surrender, it is the destruction of your country!

                Quote: anip
                By the way, do you really think that if Russia had become one of the winners then, would it have got anything from the winners pie?

                The rest got it. Do you really think that the most powerful continental country would dare to "throw"? wink It is fraught, however.
                1. baltika-18
                  baltika-18 18 August 2015 18: 33
                  0
                  Quote: VseDoFeNi
                  Under tsars, Russia grew in countries and peoples. Since 1917, Russia / USSR has been divided into 15 parts

                  Oh, admirer of the crunch of the French roll, Russia "which we have lost." For an hour, you will not "be the leader of the local nobility."
                  1. VseDoFeNi
                    VseDoFeNi 19 August 2015 03: 35
                    0
                    Quote: baltika-18

                    Oh, fan of the crunch of French rolls, Russia "we have lost".

                    You can’t ruin your country. For the people, this always turns into blood and poverty. As for the rolls, we had our own worse ones, the same kalachs. And Russia mastered Manchuria, and today China is eager for us.
                    Such rolls ...
              2. Car lover
                Car lover 18 August 2015 22: 45
                -4
                But what about the USSR? Until the end of the 60s, decent ships did not learn how to build it.
                Aircraft engines - licensed or replicas of knowingly inferior quality.
                Precise machine tools were bought all the way from the capitalists, for they are grinding their wrong microns.
                You can’t invent an iPhone in sharashka, much less you can’t make one. Technological culture is not the same.
                Everything would be good for Russia if the Bolsheviks had not littered the head of the people, and then not entangled the country with barbed wire. Now, three hundred million would speak Russian.
      2. Dry_T-50
        Dry_T-50 18 August 2015 10: 03
        +3
        Quote: anip
        And why was the 1917 revolution of the year bad? After it, the Bolsheviks created the greatest state

        The civil war, the loss of certain cadres (as now Soviet scientists flee to the West), dismemberment of the state., Not to mention the loss of Finland
        1. rosarioagro
          rosarioagro 18 August 2015 17: 43
          -1
          Quote: Sukhoy_T-50
          not to mention the loss of Finland

          "The detachment did not notice the loss of a soldier", except for the base of the Baltic fleet, what value did it represent? And thanks to this, Finland has always had good relations, except during the war.
      3. atalef
        atalef 18 August 2015 19: 27
        +2
        In Europe and Japan, the homeland of reserve currencies, quantitative easing and other factors have led to cheaper euro and yen. The euro has fallen by one fifth since the beginning of 2014, the yen by about a third

        It is difficult to read, much less believe the article after such a statement
        IN EUROPE, THERE WASN'T A QUANTITATIVE MITIGATION POLICY, they are only starting it now. They pursued a policy of economy - which proved to be ineffective, if you don't tell me, and the States - wiped their nose off

        Quote: anip
        “The devaluation is expanding China’s export opportunities, primarily to the United States,” Andrei Ostrovsky, deputy director of the Institute of Far East Studies of the Russian Academy of Sciences, told the Free Press. “The idea is simple: the lower the renminbi, the greater the volume of exports from the Middle Kingdom”

        Not everything is so simple and lowering RMB by the unfortunate 1.9% is not the devaluation that will take and improve China's export like that. The devaluation took place against the backdrop of China's financial difficulties.
        They are only listed for 4 months. drove 400 billion bucks to support
        Money runs out, need more yuan
        and at the same time declare a market pricing that is fully consistent with IMF guidelines.

        market pricing - a strong-willed decision to devalue - the market smokes on the sidelines.
    2. Dry_T-50
      Dry_T-50 18 August 2015 10: 00
      +4
      Quote: VseDoFeNi
      And everyone should remember - you can not lose the war, arrange revolutions, coups and other Maidan !!!

      100500
      And then here they are urging them to go to Maidan on Red Square
      1. VseDoFeNi
        VseDoFeNi 18 August 2015 16: 22
        0
        Quote: Sukhoy_T-50
        And then here they are urging them to go to Maidan on Red Square

        Such agitators must be referred to Ukraine or to the same Syria.

        Who wants to Kolyma -
        Come out one at a time!
        There you will come in a moment
        Enlightenment in the mind!

        L. Filatov.
    3. kolobok63
      kolobok63 18 August 2015 11: 58
      +1
      As I agree with you! Unfortunately at the top or even next to him they don’t even think about it. It will be bad when the lower classes think about it !!! The mood in the society is cheerful, most of the population is already sinking. And I would like to swim out, well or at least stay afloat ... hi
    4. alicante11
      alicante11 18 August 2015 12: 29
      0
      The ruble exchange rate DIRECTLY depends on oil prices. For doubters:


      And nothing that FUTURES are being traded, which will be able to "influence" only in a month? And large companies generally make deliveries under long-term contracts. In which the price, of course, depends on the exchange, but not so much.
      1. The comment was deleted.
      2. VseDoFeNi
        VseDoFeNi 18 August 2015 16: 49
        0
        Quote: alicante11
        And nothing that FUTURES are being traded, which will be able to "influence" only in a month?

        It's nothing. And in general, throw economic nonsense out of your head. smile
        Look, read Shlensky better.
        Quote: Sunset of a society of developed individualism
        When I read textbooks on macroeconomics, I am reminded of a lecture course in psychiatry that I took when I was a medical student in my youth. Most often, I remember a classic type of mental impairment called "paralogical thinking". This is a way of reasoning as in the well-known anecdote: "the box is square, so it contains a round one. Once round, it means orange. Well, if it's orange, then it's an orange!"

        Do not believe? Then I will give you a well-known life situation: in one country, for example, a million cubes of industrial wood were produced, a million tons of cast iron were cast and a billion cans of pork stew and condensed milk were rolled up in case of starvation. Suppose all this costs a trillion dollars and makes up the gross national product. After a couple of decades, the GNP of this country increased fivefold. And exactly, four trillion erotic massages, manicures, pedicures, hair styling and makeup were done, and another trillion visitors were served in strip bars and topless cafes. Cast iron, condensed milk and stew were imported from abroad in wooden crates, which they used instead of wood, which they did not chop or saw themselves. Paid as usual in dollars. They printed a lot of dollars, so that was enough for everyone.
        Etc.
      3. atalef
        atalef 18 August 2015 19: 30
        +1
        Quote: alicante11
        And nothing that FUTURES are being traded, which will be able to "influence" only in a month?

        So the very same Rosneft needs money today, so it sells not executed contracts (futures), but how else?
        Quote: alicante11
        And large companies generally make deliveries under long-term contracts

        And not only
        Quote: alicante11
        In which the price, of course, depends on the exchange, but not so much.

        depending on what product.
        Oil goes only through the stock exchange and futures (well, with the exception of ISIS sellers laughing )
        Metals are the same.
        Well, the list goes on.
        1. fzr1000
          fzr1000 18 August 2015 23: 29
          0
          Do not tell me when the last time the oil was delivered on the exchange on the execution of futures?
  2. Aaron Zawi
    Aaron Zawi 18 August 2015 07: 51
    +2
    Russia has its own problems.
    Saudi Arabia is burning its foreign exchange reserves at an unprecedented rate in the fight against falling oil prices and the rising costs of waging war in Yemen and Syria, writes The Times.
    Oil price dropped below $ 50 a barrel last week, below its lowest level in 6 years. This depleted the purchasing power of the Gulf States, and hit Russia and other oil producers even harder. "Venezuela and Nigeria are facing bankruptcy, and there are fears that a collapse in oil prices could trigger a seismic shift in the global balance of power," the article says.
    Saudi Arabia spent 2 billion dollars of its foreign exchange reserves per week from the end of September 2014 to June 2015. Thus, the state of foreign exchange reserves decreased from $ 746 billion to $ 672 billion.
    "There is also a positive side to the fall in oil prices. The fall in prices contributed to the growth of the world economy, giving consumers the opportunity to spend less on energy," the article says.
    “Consumers all over the world will do much better, especially low-income people who spend more of their income on energy,” says Leaf Venar, professor at King's College London. "Large importers such as India, China, Japan and many developing countries will benefit. This will help them grow and drive down prices for basic commodities," he said.
    In Russia, oil and gas account for about 75% of exports and more than half of budget revenues. With every drop in oil prices for the dollar, Russia is losing $ 2 billion, according to Professor Venard. In this regard, it is worth noting that the Russian economy contracted 4,6% in the second quarter - the worst figure since 2009 of the year.
    On August 12, the IEA stated in its monthly report on the oil market that the world oil supply continues to grow at a "breakneck speed." IEA analysts believe that the overproduction of oil is so great that there will be a surplus on the market throughout 2016.
    On August 11, the World Bank reported that the lifting of sanctions on Iran would have a significant impact on the global oil market. Tehran will be able to produce about 1 million barrels of oil per day, which will reduce the price per barrel of oil by $ 10 in 2016.
    1. anip
      anip 18 August 2015 09: 00
      +6
      Quote: Aron Zaavi
      Falling prices have boosted the global economy, giving consumers the opportunity to spend less on energy, "

      But not in Russia, everything is stable in it: the price of gasoline has been rising and is growing.
      1. Angro Magno
        Angro Magno 18 August 2015 09: 18
        -1
        And why should it fall? After all, gasoline is made from our own oil. Now, if they bought cheap impotra, then yes, the price of gasoline would fall.
        1. anip
          anip 18 August 2015 09: 30
          +5
          Quote: Angro Magno
          After all, gasoline is made from our own oil. Now, if they bought cheap impotra, then yes, the price of gasoline would fall.

          Yes, there is no market. Here the guarantor says a lot about import substitution (although the topic is interesting, having stopped buying something in one country, he immediately runs to buy it in another country, apparently, according to his concept, one of the links of import substitution). Yes, here's something products that are produced entirely in Russia - are also becoming more expensive. Judging by your comment, it should be so, but imported products should have become cheaper, right? After all, they are also bought by cheap imported ones.
          1. rosarioagro
            rosarioagro 18 August 2015 17: 46
            0
            Quote: anip
            After all, they are also bought by cheap imported ones.

            The ruble has now fallen in February, where is cheap import coming from? :-)
          2. Angro Magno
            Angro Magno 18 August 2015 22: 05
            0
            Not a fact, far from a fact. Fruits in Brazil may be cheaper. On the spot. But the carriage is farther and longer. In the end, that’s what it is.
            Own products are becoming more expensive due to resellers. Our manufacturers can not give the goods for sale, as foreign. Therefore, instead of obtaining a commodity loan, resellers take a loan from a bank. What is the rate you know. That's all the math.
        2. rosarioagro
          rosarioagro 18 August 2015 17: 45
          0
          Quote: Angro Magno
          After all, gasoline is made from our own oil. Now, if they bought cheap impotra, then yes, the price of gasoline would fall.

          only this oil is also traded on the stock exchange and its price is determined there
          1. Angro Magno
            Angro Magno 18 August 2015 22: 59
            0
            Extremely misconception.
    2. VseDoFeNi
      VseDoFeNi 18 August 2015 09: 18
      +1
      Quote: Aron Zaavi
      Saudi Arabia is burning its foreign exchange reserves at an unprecedented rate in the fight against falling oil prices and the rising costs of waging war in Yemen and Syria, writes The Times.

      This is complete crap and nonsense. Neither Arabia Sauda, ​​Russia, nor other oil producing countries set prices for their goods.
      Do not listen to the arrogant Saxons who built their own well-being on the robbery of other countries.
  3. inkass_98
    inkass_98 18 August 2015 08: 02
    +1
    The Chinese economy is in a state of stagnation (according to their concepts), growth is slowing, exports are falling. In this context, the actions of the economic bloc of the Chinese government are quite understandable and even expected. They were unexpected only for the iksperds living in their invented world.
    Quote: VseDoFeNi
    The situation will not change until the Central Bank and the entire banking system of Russia are nationalized.

    The nationalization of the entire banking system is meaningless, even if everyone does his own thing, but the return of the role of the regulator (CBR) to its immediate tasks is to manage the activities of its formally independent banks such as VTB, Sberbank, VEB in order to revive the economy, regulate the national currency and control the withdrawal of capital - then it will be possible to talk about the stabilization of the economy in the country. Loans to corporations and enterprises should be targeted, transparent and inexpensive, then it will be possible to develop new industries, and not think about survival.
    1. VseDoFeNi
      VseDoFeNi 18 August 2015 08: 50
      +2
      Quote: inkass_98
      Nationalization of the entire banking system is meaningless, let everyone do their own thing,

      Sorry, those citizen. Private banks CREATE (credit emission) money from nothing (operations with partial reservation), for the sake of Greforschilds and other bad elements. Loans are a direct source of inflation, which means they make people poorer.
      Finally, credit issues directly contradict the Constitution of the Russian Federation.
      Article 75

      1. The monetary unit in the Russian Federation is the ruble. Money emission is carried out exclusively by the Central Bank of the Russian Federation. The introduction and issue of other money in the Russian Federation is not allowed.


      Also, loans reduce effective demand the amount of interest on the loan.

      PS
      Matlin A.M .. Money, banks, financial markets. CMD for students of the FSB ANH under the Government of the RF., 2010 - go to the contents of the textbook

      2.2.3. Credit and money issues
      It lies in the fact that each new loan provided by the bank to the borrower increases the national money supply, at least by the amount of the loan. In other words, a new bank loan is a credit issue of non-cash funds, or, as they sometimes say, banks themselves create new money.
    2. sherp2015
      sherp2015 18 August 2015 11: 25
      +2
      Quote: inkass_98
      Nationalization of the entire banking system is meaningless,


      Do you think the oligarchy in Russia is useful to our people?
  4. asadov
    asadov 18 August 2015 08: 46
    +1
    "It's very simple: the Chinese do not talk, they do it." here is the main point of the article. Our government would learn this from the Chinese. And then many things do not go beyond words.
    1. VseDoFeNi
      VseDoFeNi 18 August 2015 08: 52
      0
      Quote: asadov
      Our government would learn from the Chinese.

      Which of the two countries lost the Cold War and was divided - Russia or China?

      Our government is forced to correct the consequences of the dismemberment of the USSR in the 1991 year.
      1. anip
        anip 18 August 2015 09: 37
        +4
        Quote: VseDoFeNi
        Our government is forced to correct the consequences of the dismemberment of the USSR in the 1991 year.

        Does it correct? Hitler had 6 years, Stalin 10. These have been "fixing" everything since 1991 (well, since 2000, when a new guarantor suddenly appeared out of nowhere).
        1. Dry_T-50
          Dry_T-50 18 August 2015 10: 06
          +1
          Quote: anip
          Quote: VseDoFeNi
          Our government is forced to correct the consequences of the dismemberment of the USSR in the 1991 year.

          Does it correct? Hitler had 6 years, Stalin 10. These have been "fixing" everything since 1991 (well, since 2000, when a new guarantor suddenly appeared out of nowhere).

          Stalin had Ukraine with its important trade routes, and now ordinary people on the site dream of New Russia
    2. Revolver
      Revolver 18 August 2015 21: 04
      +2
      Quote: asadov
      the Chinese do not talk, but do

      At the same time, they do what they consider necessary in своих interests, regardless of anyone's, incl. and RF. At the time of the first devaluation of the yuan, analyzes and forecasts appeared in the media indicating that this would further press down energy prices, and as a result, the ruble (by the way, the forecasts were confirmed). What have the Chinese done? Devalued yet. This is such a "reliable partner in the BRICS" and almost an "ally".
      And about the yuan entering the IMF basket - if someone thinks that the arbitrariness of the Chinese government with the exchange rate contributes to this, then it's time to sober up. In the West, the choir announces the artificial underestimation of the renminbi and speaks of the possibility of retaliatory measures within the WTO, including the introduction of tariffs on Chinese goods.
  5. anip
    anip 18 August 2015 08: 51
    +5
    August 2015 is also not the best month for the ruble: the national currency is rapidly losing weight. From the beginning of July to August 11, its rate, as Kommersant analysts noted, fell by 15%. This was facilitated by the excitement of speculators who discovered two reasons for the game to fall: an unexpected decision by the Chinese Central Bank to depreciate the renminbi and a drop in oil prices (on August 11 it fell by 2,4% immediately). As a result, the Chinese decision with a simultaneous drop in world oil prices hit the Russian ruble slightly.


    Damn, how already lifted up. Well, everyone and everything around is to blame for the fall of the ruble - the State Department, oil, yuan, speculators, but just not the mediocre leadership of the guarantor and his noisy country.
    And yes, how are the cheers putriots us.r .... I'm trying to prove that the Russian economy is wow, that the ruble does not depend on oil. Reality shows the exact opposite.
    1. anip
      anip 18 August 2015 09: 17
      +5
      I would like to see what they write, say hurray putriots now on this occasion:
      Since last fall, when the ruble began to fail, I then said that the dollar will never be below 45 rubles, and it is unlikely to be below 50 rubles. Then the Ura-Putriots almost with foam at the mouth tried to prove the opposite, that I was wrong, based on some of my ceiling visions. Well?
      By the way, now I can say with confidence that even if oil costs $ 120 per barrel, the ruble will never return to the exchange rate of 35-37 rubles, moreover, it will never be less than 45 rubles, and it is unlikely to be less than 50 rubles (we don’t take the denomination into account. It’s clear why, right?).
      1. atalef
        atalef 18 August 2015 19: 35
        +2
        Quote: anip
        Since last fall, when the ruble began to fail, I then said that the dollar will never be below 45 rubles, and it is unlikely to be below 50 rubles

        Well, that’s what you said, and I said --- invest in dollars and not in gold.
        Quote: anip
        Then the Ura-Putriots almost with foam at the mouth tried to prove the opposite, that I was wrong, based on some of my ceiling visions.

        They said that today is not tomorrow - the dollar will die
        Quote: anip
        By the way, now I can say with confidence that even if oil costs $ 120 per barrel, the ruble will never return to the exchange rate of 35-37 rubles

        It will come back when oil costs 120 - per barrel (though the stabilization fund will need to be accumulated again first), then invest in Amer T-bills, and then when it all comes together - again gobble up due to falling oil prices
        Quote: anip
        (we don’t take the denomination into account. It’s clear why, right?).

        Not ?
    2. VseDoFeNi
      VseDoFeNi 18 August 2015 09: 24
      -2
      Quote: anip
      Well, everything and everything around is to blame for the fall of the ruble - the State Department, oil, yuan, speculators, but just not the mediocre leadership of the guarantor and his shobly country

      Read my first post, everything is written there. And thank the Communists of the CPSU partocrats who dismembered the USSR. Putin is forced to correct the consequences of this dismemberment. Today, under Putin, the people in Russia live as richly as they have never lived in the foreseeable past. A vivid evidence of this is the courtyards of Russian cities clogged with cars, many of which were bought with overpayment on credit. This indicates that people have money to overpay and about the lack of intelligence so as not to overpay.

      It doesn’t seem strange to you that you scold the leadership of Russia in the same way as the West.
      The West praises the enemies of our people and scolds those who work for the good of Russia.
      1. anip
        anip 18 August 2015 09: 40
        +4
        Quote: VseDoFeNi
        Putin is forced to correct the consequences of this dismemberment. 

        United Russia and the former republics of the USSR?

        Quote: VseDoFeNi
        Today, under Putin, people in Russia live as RICH as they never lived in the foreseeable past. Vivid evidence of this is the courtyards of Russian cities, clogged with cars,

        I don’t even want to comment on this nonsense.

        In the process, you either work as some kind of boss-businessman who finds his ... employees, or by taking a job, takes up one of the few well-paid jobs with all the consequences.
      2. anip
        anip 18 August 2015 09: 44
        +3
        Quote: VseDoFeNi
        And thank the Communist Partyocrats of the CPSU

        Yes, thanks to the Bolsheviks, the country got out of illiteracy and poverty. And, if you suddenly didn’t have any rich people or even kulaks in your ancestors, you would have lived in poverty. And they would also pray for the king, just as they are now for Putin. And as a result of the rule of your idol, the number of poor and poor in the country has grown, even according to official statistics.

        And yes, there have been no communists in power since 1991, but for some reason they are still to blame for everything, but by no means rulers after 1991 and until now.
        1. atalef
          atalef 18 August 2015 19: 37
          +2
          Quote: anip
          Yes, thanks to the Bolsheviks, the country got out of illiteracy and poverty. And, if you suddenly didn’t have any rich people or even kulaks in your ancestors, you would have lived in poverty

          Well, it has been only 100 years since then, by the way why did you decide that all of Russia lived in poverty?
          Quote: anip
          And they would also pray for the king, just as they are now for Putin

          Do not touch the holy
          Quote: anip
          And yes, there have been no communists in power since 1991, but for some reason they’re still to blame for everything

          Calm down - the Jews are to blame for everything. laughing
      3. Foul skeptic
        Foul skeptic 18 August 2015 10: 09
        +3
        Quote: VseDoFeNi
        Putin is forced to correct the consequences of this dismemberment. Today, under Putin, people in Russia live as RICH as they never lived in the foreseeable past. Vivid evidence of this is the courtyards of Russian cities, clogged with cars, many of which were bought with overpayment on credit. This indicates that people have money to overpay and the lack of intelligence, so as not to overpay.

        I noticed that this is not the first time you have used this text in your messages. You like him so much smile
        1. rosarioagro
          rosarioagro 18 August 2015 17: 52
          +1
          Quote: Nefarious skeptic
          I noticed that this is not the first time you have used this text in your messages. You like him so much

          And he is not the first, it’s like a mantra, also an argument for me, the mass of cars is produced by foreign concerns, the same AvtoVAZ is Renault-Nissan, working for the economies of other countries, and on credit, in fact, this is no longer an indicator of wealth, but does it really matter ?
  6. razzhivin
    razzhivin 18 August 2015 09: 12
    +2
    Notice how liberal media selectively interpret ... when China devalues ​​the yuan - a wise move to support its own producers ... and when the ruble devalues ​​- the collapse of the ruble ... the government does not care about its citizens, etc. request
    1. atos_kin
      atos_kin 18 August 2015 10: 21
      +3
      That's only in China, the People's Bank works, and in Russia - the CENTRAL Bank. Feel the difference who works for whom.
    2. atalef
      atalef 18 August 2015 19: 38
      +1
      Quote: razzhivin
      Pay attention to how liberal media selectively interpret ... when China devalues ​​the yuan - a wise move to support its own producers ... and when the ruble devalues ​​- the collapse of the ruble ... the government does not care about its citizens, etc.

      well, yes 1.9% and 100% - dust for the sailor belay
  7. den3080
    den3080 18 August 2015 11: 37
    +3
    Quote: razzhivin
    Notice how liberal media selectively interpret ... when China devalues ​​the yuan - a wise move to support its own producers ... and when the ruble devalues ​​- the collapse of the ruble ... the government does not care about its citizens, etc. request


    1. China is a world workshop, everything is done there: from fabrics, underpants, buttons and zippers to iPads and complex machines.
    Russia basically sells natural resources and buys literally the same all abroad, but not from China, but from Westerners who place their orders at Chinese factories.
    Feel the difference.
    By and large, the West only benefits from the weakening yuan. There is really one "but": China is increasingly selling its own goods ...
    Therefore yuan and will take safely to the reserve currency basket. This is exactly how the Western media interpret this situation now, he himself looked. Term "TAKE" used to save face, this is visible to the naked eye.

    2. For some 25 years, China has managed to grow from a poor country to the second (first according to some sources) world economy.
    Russia does not shine like that, in my unenlightened opinion. It does not shine precisely because the economic policy is indistinct, because the thief sits on the thief and drives the thief away. Because Russia, as it stood and stands on the raskoryak, trying to sit on 2 chairs at once - and to match and blind to false "democratic" values ​​from that semolina, which was formed thanks to blind imitation of Western "values", something solid, competitive and independent ... and it spreads right in the hands ...
    1. anip
      anip 18 August 2015 12: 11
      +1
      Quote: den3080
      Because Russia both stood and stands on a raskoryak, trying to sit on 2 chairs at once

      And covering these two chairs with a good cover of corruption and theft.
  8. dummy
    dummy 18 August 2015 11: 44
    0
    Quote: anip
    And why was the 1917 revolution bad? After it, the Bolsheviks created the greatest state.

    Yes, nothing bad. This is precisely the surprise of Russia that did not allow the February Revolution of 1917 to completely destroy Russia.
    Only an exception confirming the rule. If a revolution is going on somewhere, then someone has paid it and will soon demand dividends.
  9. 123321
    123321 18 August 2015 11: 57
    +1
    The simultaneous weakening of the yuan and ruble against the dollar.
  10. anip
    anip 18 August 2015 12: 08
    +2
    By the way, not quite on the topic of China, but on one detail from the topic i.e. about the fall of the ruble:

    The Kremlin recognized the impossibility of supporting the ruble
    http://lenta.ru/news/2015/08/17/ruble/
    1. atalef
      atalef 18 August 2015 19: 41
      +1
      Quote: anip
      The Kremlin recognized the impossibility of supporting the ruble

      It is a pity I can’t find my comment a month ago - this is what I said and they were told to me by the NWF, foreign exchange reserves.
      Forget it, Putin mentally will not be left without a nest egg (and will not let them spend), so the ruble will fall (somewhere up to 75), then somersault again, and then continue
      1. anip
        anip 18 August 2015 20: 29
        0
        Quote: atalef
        It is a pity I can’t find my comment a month ago - this is what I said and they were told to me by the NWF, foreign exchange reserves.
        Forget it, Putin mentally will not be left without a nest egg (and will not let them spend), so the ruble will fall (somewhere up to 75), then somersault again, and then continue

        You see, you see this from the side, as they often say, from the side you know better. And here I see the whole bedlam from the inside and see how propaganda completely brains for ... and to the cheer-putriots, who have everything to blame, but not the incompetent rule of the guarantor.
        And yes, it seems that the rate of 1 dollar = 100 rubles is becoming very real. Last year they prophesied such a course, but then there were more foreign exchange reserves.
  11. Vladimir1960
    Vladimir1960 18 August 2015 14: 21
    +1
    Yes, I would like to hear something about this from our officials.
    "Russia has allocated $ 72 billion to support the US economy.
    As in May, Russia in June increased investments in US Treasuries by $ 1,4 billion to $ 72 billion.
    Investing in US Treasuries is, in fact, withdrawing money from your own economy. While the task now is to introduce this money into the economy. The previous policy of the Ministry of Finance to withdraw funds from the country in order to prevent large inflation showed its flaw. Since inflation in Russia is associated not so much with an increase in the money supply as with the pricing policy of the monopolies, it is therefore understood that continued extraction of money from the economy will not lead to a decrease in inflation.

    In addition, in the current political and economic situation, the state's access to money is extremely important. Therefore, in conditions when oil prices are not so high, the released money must be invested in your economy, "said Dmitry Abzalov, President of the Center for Strategic Communications."
    http://www.vestifinance.ru/articles/61338
  12. Stas157
    Stas157 18 August 2015 14: 34
    +3
    Quote: VseDoFeNi
    Today, under Putin, people in Russia live as RICH as they never lived in the foreseeable past. Vivid evidence of this is the courtyards of Russian cities, clogged with cars, many of which were bought with overpayment on credit.

    So this is a given level of modern civilization, you better tell me where it is not! (Wretched countries do not count!) Won in the poorest Albania, by the standards of the EU, everything is also clogged, with mostly expensive cars, and so what? You better, ask yourself why in many not rich countries, where there are no billionaires, minerals, and industry is not so hot, the standard of living of the population is higher than in rich Russia!
  13. den3080
    den3080 18 August 2015 15: 23
    +1
    So this is a given level of modern civilization, you better tell me where it is not! (Wretched countries do not count!)

    The so-called "poor" countries are home to about 70% of the world's population, or even more.
    These are Africa, Latin America and practically all of Asia. Probably traveled abroad of our vast Motherland? Have you ever looked behind the facades of tourist mecca? I have happened more than once.
    So this "given of the level of modern civilization" is an unimaginable, unattainable wealth and prosperity for the majority of the world's population.

    Yes, and in Russia ... drive off 100 kilometers from any city with a population of over one million (I’ll keep quiet about Moscow and St. Petersburg) and meet such a "given" - your hair will stand on end.
    In Skobaristan (Pskov Oblast !!!) even electricity in some places was not 15 years ago. Once Kaneshno got into those places Ilyich’s bulb, and then it burned down and the wires were stolen. Well, maybe they did it again now.

    Danny ... gee-gee

    Why are these countries "poor"? Yes, because they have taken away everything to the ground, to the thread, to the last crumb, those who now have "democracy". So the robbers measure themselves against their "givenness" and contemptuously stick out their lips at the robbed and humiliated - the poor, they say, are wild and they don't have democracy - how untidy and uncivilized it is ...
  14. Stas157
    Stas157 18 August 2015 15: 38
    +3
    Quote: den3080
    Danny ... gee-gee

    I do not understand the meaning of the objection.
    Quote: den3080
    Yes, and in Russia ... drive off 100 kilometers from any city with a population of over one million (I’ll keep quiet about Moscow and St. Petersburg) and meet such a "given" - your hair will stand on end.
    In Skobaristan (Pskov Oblast !!!) even electricity in some places was not 15 years ago. Once Kaneshno got into those places Ilyich’s bulb, and then it burned down and the wires were stolen. Well, maybe they did it again now.

    But I myself live on the periphery and see, believe me, much more than you. There is no need here to take, for example, abandoned villages! In every America, you can find your Detroit! You better tell the oilman village seen?
    1. anip
      anip 18 August 2015 20: 25
      0
      Quote: Stas157
      There is no need here to take, for example, abandoned villages! In every America, you can find your Detroit! You better tell the oilman village seen?

      Of course, of course, in Russia there are about 135 thousand villages and almost all of them are oil workers, there is no bazaar. Well, with the exception of a couple thousand abandoned. As for Detroit and America, look at how much GDP Russia gives and how much one state in California.
      1. Stas157
        Stas157 19 August 2015 07: 29
        +3
        Quote: anip
        Of course, of course, in Russia there are about 135 thousand villages and almost all of them are oil workers, there is no bazaar. Well, with the exception of a couple thousand abandoned. As for Detroit and America, look at how much GDP Russia gives and how much one state in California.

        No, of course, but do not compare them with Indian poverty! Abandoned villages, far from a couple of thousand, youth go from villages to the city! As for the United States, there per capita GDP is 3 times higher than in Russia, but this does not mean that people live exactly 3 times better! They have all the services 15 times higher! The rent is ten times higher ... That's the GDP is growing. They are trying to put into their GDP everything that is possible and impossible, even the services of prostitutes, have not heard? But we have GDP per capita, higher than European countries such as Poland and Hungary! True, for some reason people here are no better than they live there.
      2. VseDoFeNi
        VseDoFeNi 19 August 2015 08: 13
        0
        Quote: anip
        how much is one state of California.

        Layout by type of production, please, pzhlst. wink

        In the US, the manufacturing sector occupies no more than 20%. The rest is pu-zy-ryok.
        1. Stas157
          Stas157 19 August 2015 11: 22
          +3
          And the biggest bubble is probably the American stock and commodity exchanges, this is the main financial center of the world. On each of the exchanges (NASDAQ, NYSE, AMEX, American, Chicago, Boston stock exchanges, etc.), futures and options worth tens of trillions of dollars are traded !!! 98% of futures and options do not live up to the expiration day, but go into money. A sort of world casino, or a "soap" bubble. So the Americans, too, are recording these stock "trillions" in their GDP! And this is essentially air.
  15. den3080
    den3080 18 August 2015 15: 53
    0
    A given for most of the world's population.



    India 2008. From my personal photos.
    Of course, you need to focus on the best. But for all the best in such quantities as the "golden billion" (which includes Russia by the way) is not enough. And the "civilized" have not yet come up with anything better how to continue robbing those who have been robbed many times. This is what we are now seeing in the world. Softpower is increasingly turning into hard ... The bearers of democracy do not see any other way to ensure their further prosperity, do not know and do not want to know.
    1. Stas157
      Stas157 18 August 2015 16: 21
      +3
      Why are you showing me the pictures? You want to say that in India there are no cars in cities, in yards ?! And in Brazil? There, people generally live in favelas, and there are more cars in cities and skyscrapers than we will have! This is to say that, not by the number of cars in the yard, the wealth of the people is determined, well, at least the per capita GDP, and even then!
  16. The comment was deleted.
  17. den3080
    den3080 18 August 2015 16: 38
    0
    Pictures are a visual aid smile .
    My buddy recently returned from Brazil. It was not a tourist trip, to the anacondas with piranhas he managed to break out for half a day of everything and this was the best thing that he could see.
    He was in Manaus. Brazilians are very welcoming and hospitable people at official meetings.
    But in the evening he managed to walk alone on the embankment of Manaus for about 20 minutes and quickly dumped into the hotel. Otherwise they would have been robbed. Says it right in the air. There were no expensive watches or gold chains on it. Just neatly dressed and white. Pure "gringo" in short, everyone stared, even pointed with a finger and he heard this word right behind his back winked here you have the GDP.
  18. go
    go 18 August 2015 18: 35
    0
    Quote: den3080
    So this is a given level of modern civilization, you better tell me where it is not! (Wretched countries do not count!)

    The so-called "poor" countries are home to about 70% of the world's population, or even more.
    These are Africa, Latin America and practically all of Asia. Probably traveled abroad of our vast Motherland? Have you ever looked behind the facades of tourist mecca? I have happened more than once.
    So this "given of the level of modern civilization" is an unimaginable, unattainable wealth and prosperity for the majority of the world's population.

    Yes, and in Russia ... drive off 100 kilometers from any city with a population of over one million (I’ll keep quiet about Moscow and St. Petersburg) and meet such a "given" - your hair will stand on end.
    In Skobaristan (Pskov Oblast !!!) even electricity in some places was not 15 years ago. Once Kaneshno got into those places Ilyich’s bulb, and then it burned down and the wires were stolen. Well, maybe they did it again now.

    Danny ... gee-gee

    Why are these countries "poor"? Yes, because they have taken away everything to the ground, to the thread, to the last crumb, those who now have "democracy". So the robbers measure themselves against their "givenness" and contemptuously stick out their lips at the robbed and humiliated - the poor, they say, are wild and they don't have democracy - how untidy and uncivilized it is ...


    Unfortunately, sometimes it’s miserable ... I also traveled a lot around the world, I still travel ... I was recently in a normal Russian provincial city. There is already a large shopping center and even a Hugo-Boss boutique, but with the exception of the center of the road there are just dirt roads - a car is traveling - a pillar of dust) So I do not need to say that there is no money for roads (infrastructure), etc. etc. the administration drives foreign cars, people do not seem to be starving, some kind of enterprises work like. There is no other - culture, education and responsibility, for me it is called wretched. Who took away from them, besides the fact that they themselves cannot organize? Well, the collapse of the Soviet system was a disaster, but 25 years have passed! Of course, this city cannot be compared with India - it’s just a guard there, I know, but we are still in Europe after all, and not in Asia.

    Yes West Europe and the United States made a lot of money in the colonies and increased these funds, but no one forced them to organize revolutions of the 17th and 91th years and take out all the money ... nobody now forces them to steal from the budget or not pay taxes, ride a hare , the government does not crush entrepreneurs, but helps to work and protect private investment so that they do not leave the country ... The Germans rebuilt the country after the war in 20 years. And their power was not created by the military or dictators, but by rural teachers who educate the masses. Some countries cannot reach this level in their entire history. So draw conclusions about the wretched and not wretched ...
  19. den3080
    den3080 18 August 2015 21: 25
    +2
    Germany was raised by the entire Western world and for the most part in intense rivalry (to the peak to pull) with the USSR, which in one person was engaged in the rise of the GDR, Eastern Europe and its own restoration. And it did very well for the USSR!
    The Germans are certainly not stupid either. In horse feed went in general.

    Well, today's Russia is certainly not the USSR. Due to greed, shamelessness and corruption of officials, deputies and the so-called elite, I think Russia is one of the first places in the world. Peskov alone in the watch for 600 thousand dollars. What is worth - the quintessence of shamelessness, spokesman for the GDP, does not sow and does not plow what is called. This is the root of evil. Not at all in some wretchedness made up by Western carriers of democracy ....