Sergei Glazyev. Flattery – is an ancient method of distributing suckers
During the past week, according to a little-known journalists from Bloomberg, the monetary authorities of Russia have made the economic miracle. They echoed the highly influential international speculators. This was immediately trumpeted Russia’s state news channel. With a request to comment on the wonders Edition News Front appealed to the most knowledgeable of our country economist, academician of Russian Academy of Sciences Sergeyu Glazevu.
News Front: Dear Sergey, you agree with the comments Bloomberg about what is happening in our country’s economic miracle?
S. Glazyev: What is a miracle?
News Front: Well, the appreciation of the ruble, the rise of the financial market …
S. Glazyev: Yes, for speculators – for sure a miracle. Three months ago, they “earned” in the fall of the ruble exchange rate to 400%, and now the same “gesheft” they receive from the Russian monetary authorities to increase the Russian currency. How not to be thankful! Such a “freebie” on the buildup they he has never seen the national financial system. Especially as big as Russia. If in any country the exchange rate varies sharply by more than 2-3% – this is a scandal, a sign of a lack of professionalism of the monetary authorities. If he falls down and takes off on more than 10%, it is a financial aggression, destabilizing the macroeconomic situation, any planned action of the monetary authorities to increase the price competitiveness of domestic goods. But in the latter case, the national currency is always reduced. Now he rises, reducing the competitiveness of domestic goods. If this is a planned action, in the framework of the plan for the destruction of the Russian economy. Depreciation at the end of last year, too, unlike the planned action of the monetary authorities. They obviously did not control the situation, announcing inflation targeting, he immediately got the opposite result of their policies. So that everything that happens in our currency market is not guided by the Bank of Russia and the international speculators. As the experience of a “technical failure” of accepting applications for the purchase of rubles on December 16, so that the ruble has fallen to 80 per dollar, they manipulate the Moscow stock exchange. And judging by the inaction of the Bank of Russia ruble rate fixing had thrown the game to their financial speculators, and they manipulate them. As it is known jobbers, on the collapse of the ruble most earned a couple of major Western banks. And their people at that time ruled by the exchange operations.
News Front: You mean Morgan Stanley and Deutsche Bank and its former employee, and another activist euromaidan russophobe Roman Sulzhika McCain, who led the department for urgent operations on the MICEX?
S. Glazyev: You’re well informed. I not so long ago privatized the Bank of the MICEX and it became a commercial structure focused on making profits. Not surprisingly, that she runs the agents of international speculators who manipulate the market in order to create artificial imbalances that lead to jumps of the course on which they earn huge profits.
News Front: But the board of directors headed by Kudrin MICEX, and the number of shareholders are state-owned banks!
S. Glazyev: So what? They also manipulated. In the absence of meaningful government policy and an understanding of real market mechanisms to manipulate the state bodies and heads of the people is not difficult. Enough to convince them that it is the free play of market forces, which forms the “objective” course. You do not wonder, looking at the thieves who robbed them burn the base and guard bribed them testify on the disaster. So we regulator says spontaneous play of market forces, for which in fact are experienced speculators enjoying incompetence regulator. And that he did not interfere, and sing his praises. So much for the reasons Bloomberg praises. They started as soon as the Russian Finance Minister assured the market that the rate will not fall, and the Bank of Russia’s leadership has confirmed its commitment to the free navigation of the ruble and has withdrawn from the market. Speculators have got the message and started Ruble sublimation.
News Front: And what’s wrong with that?
S. Glazyev: For speculators very well. They again earn excess profits at the destabilization of the market. It is their interests, actually reflects Bloomberg. So do not be deluded. Flattery – is an ancient method of “wiring suckers.”
News Front: But can not the same “lohanutsya” everything – from the management of the Bank of Russia to the state TV journalists!
S. Glazyev: Why can not? Before our eyes, “lohanulas” the whole of Ukraine, except for the Donets Basin, believed in ruinous for its economy of European integration. And so the Nazi junta “divorce” with the help of millions of people telegipnoza about “klyatyh Muscovites”. And the Soviet people in the world who reads does not kept the bike and Chumak Kashperovskogo through the same telegipnoza? Editor of our TV channels also underway to flattery Bloomberg, because people have to say something positive against the backdrop of a sharp drop in revenues.
News Front: But people do not engage in speculation?
S. Glazyev: Exactly. But he finances them. The source of super-profits of speculators to destabilize the exchange rate that the population turns depreciation of incomes and savings. In the autumn of inaction and incompetence of the monetary authorities have plunged the people into a panic – people began to change worthless rubles into dollars. Now under the praises of the monetary authorities have people feel the impairment of dollar savings. Thus, they lost twice – first to the depreciation of their ruble savings, and now – the foreign currency. Actually at their expense and speculators profited.
News Front: But those who did not succumb to panic – now rewarded?
S. Glazyev: Not really. After all, as a result of exchange rate devaluation untwisted wave of inflation that the monetary authorities more warmed ridiculous decision to raise interest rates. As a result, the purchasing power of the ruble fell by 20% in the domestic market. Appreciation not deploy this wave back. Monetarists do not understand the cause-and-effect relationships that guide economic processes. The devaluation of the ruble has caused a rise in price of imported goods. Domestic producers could start their exclusion from the market, if the received loans to expand production. And raising interest rates has made these loans are unavailable and increase their costs. To “recapture” the percentage they had to take advantage of a rise in price of imports and also followed the path of price increases.
News Front: And our monetary authorities do not realize such obvious things?
S. Glazyev: Someone may understand, but is silent.
News Front: Why?
S. Glazyev: Because we are dealing with an aggressive sect. Monetarist dogma almost immediately after their half-century ago, Friedman formulated, have been refuted by science as a vulgarization of the quantity theory of money. And indeed, this theory, which arose a hundred years ago, in any sovereign country in practice has not been applied as too speculative and inappropriate real linkages between monetary policy and the behavior of the economy. From this western metropolis made a substitute for the consumption of the monetary authorities colonially dependent countries. Their ministers have inspired blind faith in plain monetarist dogma, which are presented as a kind of “secret knowledge” accessible only to initiates. And in fact, the essence of this doctrine is reduced to a ban on the establishment of a national loan. Monetarism prohibits issuance of currency other than against the purchase of foreign currency, and thus closes the country to conduct an independent credit policy.
News Front: But all issuers of world currency print them under its debt ?!
S. Glazyev: This’s the trick! Indigenous Ministers urge that this can not be done, but it is presented as a “secret knowledge” poorly understood even by the issuers of world currency. Therefore, if you learn only three rules – to fight inflation by reducing the money supply and raising interest rates; let national currency float freely, and do nothing else, including the regulation of prices – that will succeed. So they stupidly apply these rules under the supervision of the IMF.
News Front: received?
S. Glazyev: How do they inspire the IMF, as a result of such a policy will macroeconomic stabilization. In fact, as you can see, it turns out the opposite. As always, as they say Chernomyrdin. Because contraction of the money supply and attempts to fight inflation by raising interest stifled production, shall fall in investment and is accompanied by high inflation due to rising costs. It is no accident themselves monetarists call this a policy of “shock therapy”. But it does not cure, and cripples any national economy, blocking its growth and development.
News Front: Why did they do that?
S. Glazyev: In theory – because monetarists consider money as gold coins and think that they behave as a commodity: increased offer – reduced price; decreased Offer – increased price. So they reduce the supply of money when they want to stop the drop in their purchasing power and lower inflation. Conversely, expand when they see a risk of deflation. They do not want to understand the nature of modern money, do not want to see that modern money is created by debt and not for the purchase of gold, unwilling to recognize the existence of the credit functions of money. But practically this primitive concept is very beneficial to the United States and its allies, which are infinitely printing money, build your business credit. Including speculative, that has the possibility of limitless and almost nothing to borrow money in the US, EU and Japan, and bring down their national markets to open, earning their destabilization and buying valuable assets.
News Front: In other words, the policies of our monetary authorities sent to Washington and Brussels?
S. Glazyev: Most Washington. The IMF is in fact a branch of the US Treasury, which his hands forcing other countries to lucrative US capital policy. Judge for yourself. If you print world money, and allow others to release their money only for your purchase, you control the world. You – the main and only the lender! Countries agree to these rules, get your colonies as adjusting their lending, you define the direction and speed of development of their economies.
News Front: So simply?
S. Glazyev: Not gods burn pots. But to hide this simple, work the whole army of “experts”, journalists and experts. Central banks dependent countries are flooded with specially trained in America manipulators. dependent countries leaders instilled a reverent attitude to their “religious rite” and taboo any interference in the activities of the Central Bank. Behind the screen of his independence from public authorities concealed the IMF’s hand, which is manipulated by the US Treasury. If you want to see this – read the September last year guidance IMF mission to our monetary authorities.
News Front: Are you saying that they are working on the instructions of the IMF?
S. Glazyev: It’s not me talking. Compare forth in this memorandum recommendations and actions the Bank of Russia (see Appendix for the interview – red.News Front). Unconditional implementation. Catastrophic for the economy but for the fantastic results of international speculators. And then the IMF recommends to follow the same way: to squeeze the money supply, to keep a high percentage, do not create credit, not to impose exchange controls and let the ruble float freely. And our Central Bank is clearly performed.
News Front: What happens next?
S. Glazyev: What’s always in such a policy: the decline in GDP by 5%, including in engineering – to 30-40%, investments – by 15%, real income of the population – a third, precipitous growth of non-payments and unemployment. Appropriate public sentiment and political consequences.
News Front: In. It’s a disaster!
S. Glazyev: And what do you expect from the Americans? They are against us hybrid war, whose goals we discussed earlier. The main direction of the blow – our monetary-financial system, heavily dependent on them and they also manipulated by specially trained monetarist dogma of people in key positions in the system of the monetary authorities. Economic sanctions against us would not be as effective, if not the policy of the Central Bank, to which the Americans had hoped. Not by chance after a panic management decisions to inflate the Central Bank key interest rate to 17% and the subsequent collapse of the ruble, Obama said happily that he reached the goal – “broke the Russian economy in tatters.” All the anti-Russian policy of the US financial market was oriented to the provocation of the Bank of Russia is making.
News Front: Really do not see it?
S. Glazyev: I told you that we are dealing with an aggressive sect which is very powerful as fully supported by the Americans and their influential supporters or agents of influence, as it is now called. As soon as someone starts to criticize, create opinion on the mental and psychological inferiority of the man, his incompetence and illiteracy. Written denunciations that such criticism destabilizes the market and is detrimental to the country.
News Front: Is it working?
S. Glazyev: As you can see. you often notice a high-meetings and on television reputable scientists? Do you hear a voice of the Academy of Sciences, which is justified from a scientific criticism of the policy? At all meetings and forums high – only checked Bloomberg, Euromoney, Sheets and other mouthpieces of American interests, “the best in the world,” the ministers still “better” Central Bank Chairman, the creators of the “most efficient” macroeconomic policies. The country’s leaders are trying to create the impression that the Americans grown monetarist cult of the absolute majority of all sensible and progressive economists. Although it is no more than a handful of ignorant, but very ambitious and aggressive people, far removed from economics.
News Front: How to deal with the militant ignorance?
S. Glazyev: Enlightenment, my friend. We live in an age of knowledge! The repression against the “enemies of the people” were held. And they are not enemies, but only the voluntary or involuntary Guides hostile policy to us. If a person begins to believe that he is the best in the world, and the Minister makes economic miracles, then he will not stop noticing the disastrous consequences of its activities, hanging them on the “eternal backwardness” of our people.
News Front: But their giant machine supports the US media, including their network here.
S. Glazyev: Yes, we are dealing with a cognitive arms, shocks the conscience of our monetary authorities and the ruling elite. It is relatively inexpensive and very effective. With the help of US special services have destroyed the Soviet Union, by introducing into the consciousness of management represent the country on the harmfulness of the socialist system. As a result, we were on the periphery of American capitalism, from which squeezed more than two trillion dollars, hundreds of thousands of minds and continue to squeeze the 150 billion dollars every year. And the Chinese have implemented proposals of our scientists on the construction of a planned mixed-market economy in accordance with the proposed in his time at the Academy of Sciences of our theory of convergence and integrated social structure. As a result, in terms of production of goods and exports high-tech products, they moved into first place in the world, and we barely hold in the top ten. And we’re still not immune to this pervasive cognitive weapons because they trust the key economic management functions poorly educated people. And then reap the fruits of militant ignorance, used by our enemy to destroy the economy.
News Front: you are just so committed estimate, according to Bloomberg, the economic miracle?
S. Glazyev: If we assume that a miraculous cure a sick body by heating it to 42 degrees and then cooling to 30 simultaneous bloodletting and blows to the head, then you can agree. Especially if the task of torturing thus a potential rival. She was almost done: last year our companies finished with a total loss of half a trillion rubles in January of this year, the monthly volume of losses jumped three times, more than a third of them worked in a minus. The profitability of manufacturing has dropped to 3%, which makes it all meaningless Central Bank manipulation of the key interest rate. Because of the money supply contraction and the unavailability of credit domestic producers were not able to realize the potential of import substitution and drawn into a spiral of cost inflation. The economy is firmly stuck in the trap of stagflation. So Bloomberg have something to praise American agents – Russia’s economy managed to shoot down a path with a recovery rate of GDP growth of 6% and 15% of investments, and artificially immerse into a coma.
News Front: What to do?
S. Glazyev: Go to my website or come on Mondays on my lectures at the Faculty of Public Administration at Moscow State University. They are exposed on the Internet. Or check out the performances of the participants of the Moscow Economic Forum, the Mercury Club, round tables CCI. What to do in order to return our economy, which is idle 40% capacity and there are no objective limits to the rapid rise, specialists are well understood. It is not clear how to get rid of militant sect ignorant consciousness and protect the monetary authorities of cognitive enemy weapons.
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