… it’s much cooler than if Putin sent troops to Syria
Russian President Vladimir Putin signed a law creating a single Russian
The objectives of the Central Bank offered include the development of the Russian financial market and to ensure its stability, the functions — implementation of official statistical accounting of direct investment in the country and of the Russian Federation abroad.
The primary objective of monetary policy the Bank of Russia will protect and ensure the stability of the ruble by maintaining price stability, including the conditions for the formation of a balanced and sustainable economic growth.
Bank of Russia will protect the rights of investors and shareholders, as well as to develop and implement policies to prevent, identify and manage conflicts of interest.
The Bank of Russia in cooperation with the Government of the Russian Federation will develop not only the design guidelines for the single state monetary policy, but also draft guidelines for the development of the financial market.
But the comments to it from the network:
- Jul. 24th, 2013 at 1:05 PM
Russian President Vladimir Putin signed into law the creation of a single mega-regulator based on the Bank of Russia, passing the authority of the Federal Service for Financial Markets.
Progress is made. If you can not (yet) to quickly amend the Constitution and change the status of the Central Bank, making it a common RCC and mint, you can turn it into a structure that is directly subordinate to the government, Putin said, and then calmly threw collar force is to serve the country, not its neighbors.
While few people understand the meaning of this law, but its effects will apply to all, and not only in Russia. In fact, Russia has announced otvyazki ruble candy wrappers from the Fed, which means an independent fiscal policy, the revision of the cost of credit, the direction of the Central Bank on the development of the economy and a floating exchange rate.
I will say this, it’s much cooler than if Putin sent troops to Syria came with tanks in Tbilisi and began to rebuild the Berlin Wall, however, is yet to come.
That’s right said.
I shall only add that this decision was clear in the spring and now only legally formalized. Schematic outline clear. Russian money is pulled out of reserve funds and debt securities of the West and pour into industry and infrastructure through the state-controlled credit institutions, the Central Bank becomes a mega-regulator, his appointed head of the liberal Nabiullina obedient, to be his reputation rukopozhatnym cover surgery to reduce interest rates, the Central Bank receives a super-power on control of the banking system (including private banking), so the state fully controls the cash pouring into the economy — industry gets long-term loans, large-scale domestic investment, Russia untied from the neo-colonial dollar mechanism starts new industrialization.
The case of Hungary shows that frank otvyazka by changing the Constitution — it is fraught with severe consequences. Russia has chosen a different path — a cunning and soft, appearance is not noticeable and does not allow to find fault with the fact that it moves away from a "liberal democracy" and "market economy". If you save all these changes mulek very essence. Of course, the West is well aware of and will do everything to prevent it. However, nominally it is no reason to rebel openly anti-democratic, as in the case of Hungary.
Therefore, the reaction will be the same mystery and looks like not related to the actions of the authorities of the Central Bank of Russia. This terrorist attacks, financial attacks, oil prices, the activation of a "fifth column" and much more. Putin is well aware of and I think it is ready. All the more so, they had to say a year or two ago, it was planned a long time ago. Strictly speaking, this is Putin’s plan. More precisely, the most important part of it