"It's Over": Central Bank of Russia Gave Up on Inflation Control - The Russian Dude

[TexasTowelie]

For many years the Central Bank of Russia tried everything possible to maintain extremely fragile Russian economy. The first shock came in 2014 after Crimea annexation. Then there was 2022 invasion. And with each day passing, the situation got worse and worse. Elvira Nabiullina tried to do everything possible to save the day, but Putin just kept making things worse. Interest rates were increased, but Putin still increased the military spending. In the end, the only ones who left hurting were the regular people of Russia. And so, as of recently, it looks like, that the Central Bank of Russia has completely gave up on inflation control.

[bucolic_frolic]

1. Don't believe it can't happen here.

After all, destruction of the currency is the end game of inflation where only the rich remain able to buy things. So it is a way of asserting superiority and restricting the benefits of society to those with the cash to pay for them. Would billionaires be troubled by that?

[littlemissmartypants]

2. They won't care.

We're going to be a crypto economy soon.