Translated by Valentina and captioned by Leo.
If you take take a look at a Soviet money banknote and look closely, then you can see that the bill was issued by the State Bank that is clearly written on it. Yet, what is written on the current Russian money banknote is simply “Bank of Russia”. Also, on Soviet banknotes it was written that the bill is backed by gold, pressure metals or state bonds. However, on current Russian banknotes, there is no such statement. Also, there was the coat of arms on Soviet money, which disappeared from current Russian money. What is left, is just a double-headed eagle, which resembles the coat of arms of the Interim Russian government in 1917.
And many Russian citizens are curious why there is no coat of arms on current Russian rubles? This question was even asked to Putin, to which he pretended that he does not know.
Question to Putin from audience: “A very important question: when on Russian banknotes there will be a Russian coat of arms?”
Vladimir Putin: “This is a decision that made by Central Bank in accordance with the Law of the Russian Federation. I have not thought about it, but I will now.”
In 2016, the coat of arms of Russia began to appear on Russian money. Which brought even more questions. I was also interested in it. And here recently, there was new information explaining that. Presumably, Russia could not print a coat of arms of Russia on its money because it lost during the Cold War. And Gorbachev signed an act of capitulation that was officially confirmed. This act was supposed to expire after 25 years. And so after 25 years of the USSR’s capitulation in 1991, the agreement now has expired and Russia can print a coat of arms on its rubles.
But here is how everything looks like in reality. Yes, Soviet Union lost the Cold War because of treason of the Soviet elite. Gorbachev with his team betrayed the country gradually. In 1989, during the Malta meeting, Gorbachev betrayed USSR and allies completely. Although, there were no official documents signed, especially, there was no act of capitulation. Although, the document may exist, but is very well classified. In other words, officially, there are no such documents available for the public. Especially, since the document specifically stated that act of capitulation expires in 25 years. If such a document would have been available for public, the information could’ve been found in school textbooks.
So far, the loss of the USSR in the Cold War looks like a betrayal of the Soviet elite. However, after the Cold War defeat, the USSR got all the attributes of a defeated country: occupation (NATO soldiers are present in former USSR territories); contributions paid (remember the uranium deal? The “Megatons to Megawatts Program”); all assets of the USSR are located under Western jurisdiction, basically in the offshore zone; and lastly, Russia is being ruled by foreigners (Russia’s Constitution was written by Western advisers).
To summarize all of the above, Russia, now, is a piece of a country that was defeated during the Cold War. Of course, the winner took control on printing their money. Our Central Bank is working in the interests of the USA and Europe.
Valentin Katasonov (economist): “The Russian Central Bank – In reality is a branch of the US Federal Reserve System. The Russian Central Bank isn’t even a Central Bank. This is currency management. There is such a thing as a currency block. This is practically currency exchange. There is exactly as much money in the economy as much as the foreign currency is in the reserve.”
Knowing that, one can explain why there is no coat of arms, nor is there a valuable word by the state issued to the banknote. Now more concretely, let’s start with the coat of arms. The Central Bank explained: it is not the coat of arms of the Interim Government, it is a drawing by Russian painter Ivan Bilibin. Ivan Bilibin used to illustrate books, and most famous ones are illustrations for Russian fairy tales. So, the coat of arms of the Interim Government of Russia in 1917 and the Russian Central Bank double-headed eagle are presumably (based on Central Bank explanations) different drawings of the same author – Ivan Bilibin. And the Central Bank does not explain what the difference between the two drawings are.
Why is it exactly that the coat of arms of the Interim Russian Government of 1917 is displayed instead of the current Russian coat of arms? First of all, as Putin stated, the decisions on what to draw on our money is all based on what the Central Bank wants. Our Central Bank, based on Russia’s Constitution, is independent from the government and the president, and do not subordinate their activities to them. [Ed. – Same as the US Federal Reserve.] Second of all, the Central Bank chose its symbol in 1992, when there was no modern coat of arms yet. (It was made in 1993.) And purely theoretically, they could have chosen even the American coat of arms. Which by the way, would had been more honest.
So, why then in 2016, did the Russian coat of arms appear on Russian coins? Officially, nobody gives an explanation. Actually, based on Russia’s Law, officially the Central Bank could have started to print Russia’s coat of arms on banknotes from 25 December 2000. So, the explanation that the Central Bank could not print the Russian coat of arms on their money because of an act of capitulation, is not true. Some patriots explained that the appearance of the Russian coat of arms on their money in 2016 is a courtesy of national oriented people that work inside the bank. But I personally don’t buy it. It does not affect financial policy at all, nor does it affect anything positively. On the contrary, it’s a lullaby for the citizens.
If those patriots from the Central Bank would have drawn the USA coat of arms on Russian money, that would have been a million times better, because at least people would wake up. But it’s the opposite, the Central Bank is mimicking to be a state. In reality, it’s a separate organism – a parasite. One that suffocates the Russian economy. So, from unknown reason, the board of directors from Central bank just decided to print a Russian coat of arms on her money. I assume, it was done to put the citizens to sleep: “All is good, the bank is Russian, don’t worry.” I think, that is the main idea.
What is the actual problem for Russian citizens? The problem is that the Central Bank, due to lack of national institutions that is prohibited by Article 13 of Constitution of Russia: (No ideology can be established as a state ideology or mandatory ideology), which would have made a strategy of development, is actually managed by international institutions like the International Monetary Fund. And IMF recommendations are in accordance with Article 15 of the Constitution: (Generally recognized principles and norms of international law are an integral part of the legal system of Russia.) Therefore, our bank is being managed by our geopolitical enemies and, naturally, in their benefits. It is done by linking the emission of the Russian ruble to the enemy’s currency. This kind of job in the Central Bank is called “currency board.” The name invented by England for its colonies.
Sergey Glazyev (economic adviser to Putin): “The Central Bank strictly follows all recommendation of the IMF. If anything, Russia lacks of its own money. We refused emission of credits to the Russia economy and started the IMF favorite model of currency management: basically, the Central Bank prints as much money as we have in the currency reserve. Which is a bit less. When one cannot create a credit, instead, one must link the creation of money to purchasing of foreign currency from the USA and Europe; then the economy will follow the money. We refused to manage our own money as a credit resource; therefore, we lack a source of credit, lack of investments. So, our economy subdues to outside forces.”
What needs to be done for improving life in Russia? I don’t invent anything here. I am quoting words of scholars like Glazyev and Katasonov: we need to change the financial policy of the Central Bank. This is the most important. It is necessary to print as much money as we need for our economy with 0 interest rate. Issuing money needs to be as a result of refinancing of commercial banks or backed by state bonds, as it is done in USA and the EU. It should not be linked to the dollar as it is now. Right now, the interest rate is 6.25%, although, it has been declining lately. However, it doesn’t mean much for Russia’s economy.
First of all, if it is not going to be refinanced, then there is no difference on what the interest rate is, even it would be a zero. Second of all, prior to 2014, the interest rate was also declining, then it flew up to 17 %. It was necessary during the time to bring the interest rate down, so for a very short period of time, Russia lost what was gained previously for many years. I understand that all of this is hard to understand for the average person. I understand that all of this is hard to understand for the average person. If you are interested in this topic, please watch the interview of Katasonov and Glazyev.
The essence of it – our Central Bank is suffocating the Russian economy by not giving it credit. Russia resides on 1/7 of Earth’s landmass. It has huge resources, including human resources. We have everything we need for development, except the most simplest thing – money. It is easy for a state to print money. The USSR had been printing as much money as it needed. Now, China and developed countries are printing as much as needed for their economies. But Russia is printing as much money as it has dollars and euros in reserve. Which happened as a result of the sellout of our resources – oil and gas. If the Central Bank will be nationalized, then there will be trillions of rubles flooding into our economy. It will be increase in GDP not in 1.2 % as it is now, but in 8% a year. It will create a national business, middle class, jobs, and better salaries. This is all real. It was calculated by the Russian Academy of Science.
Glazyev: “If we start this strategy, then, as the calculation shows, we can bring economy to 8% GDP a year. Not 2-3% or 1.2% like some are drawing, but 8% and more.”
All we need to do is to change the system. Right now, we have a colonial system: Russia is a part of the American unipolar world. Slowly, Russia is moving to its collapse. This is obvious, one cannot deny it. Russia’s GDP rises by 1.2% a year, while the world’s average is 3.2%. It means Russia, compared to the rest of the world, lags behind and is declining each year. We have no choice and need to change the system. Or our country will continue to be crushed. And if it continues to be crushed, then it is a 100% guarantee that there will be wars. Russian Empire crushed – wars; USSR crushed – wars; Ukraine crushed – wars. If Russia is crushed, think about it, would all the republics be ok with what will be left to them as a result of being dissolved?
Putin: (About the consequences of the collapse of the USSR.) “…which is why immediately military hotspots appeared. They are still present among republics of the former Soviet Union and even inside the Russian Federation. 2,000 of such trigger points. Try to let them on their own for a second, and it would get out of hand quickly.”
Now, in many regions, separatist tendencies are rising. Russia is held only by one person. One can think what he wants about Putin, but even his enemies are saying: when Putin will leave, it will be a war among the elites for power. Putin, by his authority, holds it all together right now. All this negativity inside the country is because Russia has no purpose, no ideas. People and bureaucrats don’t know what to seek in their life. There is no task. All this because Russia is a colonial country. To have our own task is prohibited by the main Article of the Constitution. We have two choices: change the system and thrive in a strong and stable state with high quality of life and good salaries, or witness the sunset of Russian civilization.
What can we do is what I was saying many times. Us regular citizens need to build public opinion and demand a referendum on changing the colonial constitution. More of this I was saying in others video in my channel. Please visit my channel and watch. Please subscribe and turn on the notification bell. Also find me in social media and join me on VKontakte and Odnoklassniki. For now, that’s it. Farewell!