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Guest Post: Russia's Central Bank Governor Is Way Smarter Than Ours
Submitted by Raul Ilargi Meijer via The Automatic Earth blog,
It wouldn’t be a first, but it would certainly be a – bigger – shock. That is to say, the Bank of England hijacked the head of Canada’s central bank some time ago, but, while unexpected enough, that would pale in comparison to the US hiring the present Governor of the Russian central bank, Elvira Sakhipzadovna Nabiullina. It would still seem to be a mighty fine idea, though.
Not that I think it will happen, not to worry if you think Yellen is just what it takes at the Fed. But Nabiullina is both razor sharp and fiercely independent. Yellen is obviously neither; she’s a cog in a machine that huffs and puffs and pumps and dumps to make sure her overlords in the blissful world of US finance make ever more profit no matter how bad things get in American society.
There’s no need to be particularly sharp in order to play that role, and she was picked exactly because she’s NOT independent. Or let’s just say she’s a good listener.
Nabiullina is a whole different story. Not that I have much confidence in western readers understanding that this is so, let alone why. Not after the 24/7 highly public media campaigns and sanctions and oil price wars and Ukraine war talk and chest thumping directed at Putin and Russia, and after everything else that we don’t even know that plays out behind the veils.
Enjoy your conspiracies while you can, I’d say. Because despite more than a year of intense efforts to make Russia look like the empire of unspoken evil, financial markets, yes, the same ones Yellen manipulates at her lords’ bidding, have now made the Russian ruble and the Moscow stock exchange the biggest winners so far this year.
And that is due to a substantial extent to Elvira Nabiullina. You see, if she were just a blind or scared servant of Putin, or of his economic ideas, that would mean it was he who masterminded the resurrection of the currency and the stock market.
Think about it: that should make one really scared of Vladimir Vladimirovych. If besides all his other qualities, pursuits and activities (whether you see them in a positive light or not), he could also do that: save a $2 trillion economy from intense outside attacks.
Fear not: Putin is a mere mortal human being. One quality he does possess, however (he wouldn’t last in his position for 5 minutes if he didn’t), is a keen sense of who he can trust. And he trusts Elvira Nabiullina. She’s only been central bank governor since 2013, when she wasn’t even 50 years old, but she’s been a confidant for quite a while, most importantly as Putin’s private economic advisor in the years leading up to her present job.
You can all look up her career on Google or Wikipedia, interesting, but not overly so. What’s really important in Nabiullina’s career are two defining moments. Moments that make her stand out, and that define the relationship she has with Putin.
Sure, you can claim that she’s less independent than Yellen at the Fed, but who do you think you’re kidding? Yes, she has a hot line phone on her desk, and everyone is ushered out of the room when Putin calls her on that phone. But Yellen has hot lines to the US Treasury as well as to Jamie Dimon and Lloyd Blankfein and whoever lead those other banks and primary dealers. Independence?
So, to get to those two moments that define Elvira Nabiullina. The first was described by Bloomberg last month. In mid December 2014, the ruble was under vicious attack from financial markets. Nabiullina had already spent tens of billions of dollars in foreign reserves to prop it up. Then, on December 16, she, in a move nobody had foreseen, yanked up the interest rate in one fell swoop from 10.5% to 17%.
And here it comes: after that she did nothing. Not a thing. No more foreign reserves. Bloomberg quoted her as saying: ‘Speculators needed a cold shower’.
Mario Draghi said in 2012 he would do ‘whatever it takes to preserve the euro’. Nabiullina didn’t even have to say it.
The attack on the ruble was over. In January she lowered the interest rate to 15%, it’s at 13% now. Nabiullina says she expects it to be at 9% by the end of the year. The ruble is up 19% against the US dollar in 2015. No other currency has that record.
Did Putin order her to do this? No. They talked about it, and a lot, no doubt. But he knows she knows better. And he trusts her.
The second big moment came over the past few days, when Nabiullina announced that Russia will not get on the global central bank QE treadmill. Her reasoning, as Bloomberg reports, is that she sees problems with using debt to spur growth (eat your heart out, Krugman):
Nabiullina Sees ‘Limits’ in Using Debt Financing to Fund Growth
Russian central bank Governor Elvira Nabiullina raised questions about the use of debt financing to fund economic growth, underscoring the need to harness long-term capital as investment slumps. “We need to think about some other ways to finance growth, because financing economic growth with debt, in my opinion, has its limits,” Nabiullina said at a conference in Moscow on Thursday. “There won’t be long-term investment growth in Russia” without such sources of financing as pension savings and life insurance, she said.
“An excessive debt burden may be not only a catalyst for development and investment but also a hindrance,” Nabiullina said. Regardless of the high level of interest rates, the ratio of debt to Ebitda (Earnings Before Interest, Taxes, Depreciation and Amortization) “is already a considerable burden for companies, entire industries,” she said. Banking loans account for 57.6% of the Russian economy, according to Nabiullina. “Mandatory pension savings are of critical importance for sources of long-term financing and Russia’s capital markets,” the governor said.
Let me add some more from Reuters, so you get the full picture:
Russian Central Bank Chief Confident On Inflation, Banks, Ruble
“The acceleration of inflation… has in our view a temporary character. We expect quite a rapid fall in inflation if there are no new unforeseen circumstances..” Nabiullina said the central bank would continue cutting interest rates insofar as inflation risks receded. The bank has already cut rates twice this year. “On the whole we judge the situation in the banking sector as stable,” she said. “The banking sector maintains a substantial capital buffer and the banking sector is able to counter serious shocks even if crisis phenomena deepen.”
She said central bank stress tests showed that even if the oil price were to fall to $40 per barrel the sector would maintain capital levels above the regulatory minimum. Nabiullina also said the factors which had been weighing on the rouble had now passed, saying that repayments of foreign debts could be financed without this having a significant effect on the rouble’s value. “Thus the influence of those factors which were influencing the exchange rate and inflation last year are gradually receding to nothing..”
The entire financial markets attack ‘gradually receding to nothing’. The girl got style. Here’s thinking Nabiullina is right on this one too. Crippling sanctions? Crippling oil prices? Russia has survived it all so far.
There may well be negative growth in the country this year. But even if that were so, who would you choose to deal with that where you live? Yellen, Bernanke, Mario Draghi? Or would you go with a woman who’s shown she can not only think outside the box, but act outside of it too?! Who has both the guts and and the brains for it?!
She may well be one of Putin’s biggest weapons if the west elects to continue pestering Russia. It seems obvious: we need to hire her. But, caveat, to serve the American people, not Wall Street. Then again, I don’t think she’d want to do either.
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and better looking
She is a USSA trained whore, singing for her supper to Putin. The Russian Constitution and Central bank was created in the 1990's by the Western stooges of the USSA. Millions starved, pensioners lost almost everytbing while puppet gangsters like Kodorkovsky stole everything.
Putin is purging the liberal 5th columnists, hence one of many reasons why he is so hated by the western bankster establishment. They will target anyone that tries to limit their thefts and exploitation of the 99.9 percent.
If Nabiullina had a dick, I would suck it.
-channeling Raul, author of this puff piece.
C'mon, no one with any experience believes that the overlords want a capable central banker with his/her own mind.
This is all just theater. The herd will be milked till the last possible moment, then the system will - OMG, who could have known - crash, and be replaced with an even worse abomination.
Keep obeying, suckers!
We need to get her a job with the Federal Reserve!
http://www.mrdryout.com
you only hire a fiercely independent Chairman of the Federal Reserve, if you want a fiercely independent Federal Reserve.
If instead you want corrupt, corporate banker shills, you hire Greenspan, Bernanke and Yellen, with a whiff of ivory tower obfuscating idiocy thrown in to provide some smokescreen cover.
I agree with Latina Lover, there's a strong movement in Russian to nationalize the central bank and the rubles, the ruble doesn't belong to Russia. This article is just pure pr for a devious central banker to say, hey look their central bank is good while ours is bad. Unfortunately all central banks a're bad. the Russian central bank is an instrument for the US and it's how the US exerts its influence on the Russian economy and it Keeps the Russian economy dependent on the dollar via the Russian central bank. Research this shit people. I think these types of articles are posted on zehedge to test our intellect..
Sashko
<<I think these types of articles are posted on zehedge to test our intellect.>>
Nailed it, you and Latina and CH1. Some propaganda is subtler than others. We are only a little above the celebritard sheep here, not above being propagandised by a few adjectives like 'smart'.
'Smart' is to some readers here, like 'hawt' is to the Buzzfeed crowd.
She represents the bankster cartel, sheeple. Wake the fuck up.
I mean just to prove my post, people who think she is some great central banker answer this. Can the Russian Central Bank print rubles like the Fed can print Dollars?
Answer: No. The Russian Central Bank needs to get Dollars from the USA in order to increase the amount of Rubles in circulation.
Call that an independent central bank, looking out for the interest of the Russian people?
All Central Banks worship Satan as far as I am concerned since they all take their orders from the FED.
Sashko
http://english.pravda.ru/russia/economics/30-12-2014/129431-usa_russia_c...
All central bank heads now have to be women to help reduce the anger towards them.
So Putin has this person, and we got well that person. Man I fear for my country's future and my children after reading this.
Most 'informed' commentators don't get that we do not need a central banking system. If governments directly issued currency, interest free, then the average person would be much more prosperous.
Thnk about it, Why do we need banks to create money out of nothing, and then charge us interest? Moreover, banks must always create more debt just to 'allow' us to pay the interest. Gold, Silver, other real things that cannot be printed are real money, and bitcoin like systems would give us decentralized control of money, instead of todays exploitive situation. To me, arguing if the head of the russian central bank is better than the US fed is like arguing over who is the better warden. The end result is the same, we are in debtors prison.
So true, But if the central banks were told to take a hike. Then we would be called Hitler, invaded and 6 million dead jews would be found (somewhere in a newspaper). LOL
Would you consider the Bank of North Dakota as close as we have to that on a state level?
So what if she's smarter? So what if she helps kill the dollar faster than it would otherwise die? So what if she keeps the Ruble afloat? She's still the head of a central bank that deals in fiat. She won't be around forever, and neither will Putin. What happens when you get somebody in there who decides that printing more is justified or that is owned by the banks? Because, barring WWIII, somebody like that will get the position. The temptation is just too great.
This is just a puff piece to try to convince skeptics that a 'smarter' central bankster is A-OK.
Nothing wrong with central banking that a 'smart cookie' can't fix, right? Raul, I'm disappointed -- usually I like your work.
Gave the article a "1" for transparent propaganda. Yeah, she's 'smarter' than Yellen. (As is my cat.) 'Smart' central banksters are no less evil than 'dumb' central banksters. Yellen's not the problem, and Nabiullina is not the solution.
<<Nabiullina is a whole different story. Not that I have much confidence in western readers understanding that this is so, let alone why. Not after the 24/7 highly public media campaigns and sanctions and oil price wars and Ukraine war talk and chest thumping directed at Putin and Russia, and after everything else that we don’t even know that plays out behind the veils.>>
Should have stuck with this, except for the first sentence. She's 'different' like Volker was 'different'.
<<Enjoy your conspiracies while you can, I’d say. Because despite more than a year of intense efforts to make Russia look like the empire of unspoken evil, financial markets, yes, the same ones Yellen manipulates at her lords’ bidding, have now made the Russian ruble and the Moscow stock exchange the biggest winners so far this year.>>
She's still a central bankster. Burn all privately owned central banks.
<<Did Putin order her to do this? No. They talked about it, and a lot, no doubt. But he knows she knows better. And he trusts her.>>
Trusting a central bankster? I would not believe this unless I heard it from Putin's lips. Did you hear this from the man himself, Raul? And if I did hear that, then I'd know for sure Putin is just a 'smarter' Barky.
She's being smart because she wants to be around for some time to come, less than smart for Russia and she won't be around for long, a fact that she was made quite aware of when summoned to the Kremlin.
see above ^^^
yes he will ;-)
fudge, good comment. Tip for ya, don't start with italics next time. I had to do the Tab dance to upvote you, and most won't bother.
dup
You may be correct. The thing to watch is Putin's move in the Duma to gain support for the eventual de-privatization of the CB. IMO, that would give Russia unprecedented ability to created usery free money.
I wish I had a better grasp of China's banking sytem, I beieve they've been doig this all along.
would a big clit count?
Yes, most central banks follow the same playbook.. The one's who don't are targets of the USSA and TPTB..
http://www.softpanorama.org/Skeptics/Pseudoscience/harvard_mafia.shtml
You are spot on. And anyone who downvoted you or will downvote me can suck the buffalo bull's dick.
Well, incomparably more shagadelic than Yellen.
An anal lesion is more shagadellic than Mr. Yellen
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
I'd vote for Nomi Prins for chair of fed in a nano second
https://www.youtube.com/watch?v=rlgEE9tUgvY
I'd vote for abolishing the central bank in a nano second.
So much for abolishing the beast. Just give someone new a chance to be corrupted?
Plain talk and sanity; Russia looking better and better.
The US looks good in a rear view mirror.
Gotta look way back, though.
Yellen's book title: "My Courage To Act".
Wait, that's Ben's title.
It's a brilliant title when you use act in the sense of an actor.
Ben trolled everyone.
William K Black would make an excellent Federal Reserve Chairman.
Former Bank Regulator.
James Grant
Mr Blobby
https://www.youtube.com/watch?v=Y9IuuCkMHI4 (crap quality)
Wait a second, I thought you guys were against the Federal Reserve..!?!
Duh, Muricans...
If you cannot beat them, infiltrate and destroy the culture from within.
Eh, deluded much? Just to make it clear for you and those 4 souls that rationalized their poor prior reasoning by giving you a greenie, let me paraphrase a dead stand-up philosopher-comedian:
"It's a big fucking club and you ain't in it!"
It's always blame the bankers but Not today, Russian central bank good, the Fed bad. Unless of course we had the right person running the Fed, like Elvira. In short, it shows they have no idea WTF they believe, they just gotta blame somebody for their misery.
He would indeed Chuck. I don't know why anyone would down-arrow that choice. No one is perfect, but Mr. Black's moral compass seems true.
Anyone other than a proven bank regulator will not do.
End the Fed is so yesterday. What are we cheering for now?
I'm cheering for arrests!
Of who exactly? I'm curious who you think is causing or aiding in the destruction of America.
If I knew who, I'd go after them myself.
I once thought that too,
but over the years I realized he had won a single battle in the S&L aftermath with an all-out effort -likely also more cajoling than convincing the jury because of the complexity of the matter-, but lost the war (against bankster fraud.)
And he should be intelligent enough to realize that, but he is still holding up his Joanne of Arc image and never demanding anything like to cut down the deliberate overcomplexity.
That makes him a useful idiot (at best) for TPTB.
Nah, you want someone who will blowbit up faster, rather than drag out this Treason & Fraud.
At this point, I'm cheering for max incompetence and every mistake the Fed makes, which will hasten the inevitable.
ZHers need Clarity: you don't hope for more paint jobs and Inferior Decorators, after you realize that the wrecking ball and bulldozer are required.
Go Yellen, give US QE4, 5 and 6. Soon, fast & furious.
yellen is a retarded fat bitch that is utterly clueless. she can barely remember her script and the answers to her pre-screened questions.
Fischer is the one making policy.
Grandma Yellen is the mascott/teleprompter reader.
Since Fischer comes directly from his position as head of the Bank of Israel, they don't want to rub that in the goyim ameritard faces too much. It's never mentioned in the zio media either.
No he isn't. The policy is made in New York by real banksters.
Fischer's an old man who came back stateside because he didn't want to retire
a) in a war zone rife with sandniggers (he might as well have retired to "Zambia," aka Northern Rhodesia, the land of his birth, which is only rife with common or garden niggers);
b) anywhere people actually take that whole Mosaic Law seriously---you know, keeping kosher, letting your slaves rest on the Sabbath, forgiving debts every fifty years, that sort of thing. Fuck that noise, that's for fools, frums and fundies.
Yellen, Mrs Debfire, is the right person to steer the SS Titanic into the iceberg.
She'll claim the iceberg hit her (Fed-Speak).
How long will you fall for the East vs West B/S?
U.S. Companies Like Baker Hughes Still Work On Russian Oil Projects
ExxonMobil Boosts Drilling Rights in Russia Giving It More Holdings There Than in U.S.
Russian Bank Hires Two Former U.S. Senators
1945 British National Archives Document Calls For New World Order Now
Russian Investment Board of Milhail Fridman Filled With Western Elites
As long as bankers walk the earth.
certain bankers are main evil
without them, rest less so, can even be checked
there is methods of banking that worked
but not for plunder
11th dollar can never be repaid
"War Cycles Peace Cycles" Richard Kelly Hoskins
As long as bankers walk the earth.
As long as people obey their oppressors.
http://www.softpanorama.org/Skeptics/Pseudoscience/harvard_mafia.shtml
as long as there's a clear effrot by the west to rape and pillage and brreak apart Russia?
Jesus, don't be such a simpleton
Here - it's free: http://www.takeoverworld.info/Grand_Chessboard.pdf
You need to have a master's degree just to speak out her name.
We have become a culture of cowards. The only goal of our "leaders" be they Lois Lerner, Eric Holder, Barack Obama, or Janet Yellen- is to always take the easy way out, feather your own nest, while looking the other way and lying about it.
There was no way for thousands of bankers to escape prosecution without a culture of political cowards- Janet is just another cog in that machine. And know this- she knows it. Until someone commits career suicide- the culture continues.
Edward Snowden told the truth and you witnessed what happened to him, komrades.
You all know it's springtime and the birds are out in force challenging one another for "mates"...
Well it just so happens I have a dumb as shit cardianl that see his reflection and incessantly smashes his noggin with the rest of him behind it into the window without a "crash helmet". One wonders how the little fucker can keep doing it without severe brain damage or death -but he keeps doing it for minutes at a time each day...
What a great analogy for our Federal Reserve, Pentagon, State Department and the 3 branches of government that do far worse to themselves every day (without a crash helmet) for the last 70 years alone!
Wish they would all fucking die?!!! Or maybe we all should in this "land of opportunity" we delude ourselves into believing that it is still the greatest after everything we've done!!!!
@sonOf Nemo - I have some sympathy for your little feathered friend. Males do all sorts of crazy things when theyre horny. Case in point - go to a bar where booze is flowing, the young guys testosterone is peaking, and young women are also present, and your cardinal friend will look almost 'sane' in comparison. At least he has an excuse.
But even the guys in the bar aren't a danger to the entire planet like the assholes 'in charge'.
Criminal putin regime can only be at power if people are brainwashed by putin regime lies propaganda spell. So this mean putin regime must attack truth and stop it in any possible way. So it can get ugly & funny in same time.
https://stopputinregime.wordpress.com/
Golly you are a dipshit kinda troll snewsoutlet.
Been a long time since I've seen pig-latin
are you tacitly suggesting the American press is free, you numbskull?
The American people are the most lied to on earth.
Another 'exceptional and indispensable' lunatic mentality that hates Putin and calls it thinking.
While newsoutlet viedoklis appears an annoying threadjacker, he exhibits an obsessive mental deficiency common to Latvians and western Ukrainians.
Saw an interesting article this morning by one of the rare, sensible, intelligent Latvians. It predicts Ukraine's future by examining Latvia's past. Here is a sample:
http://russia-insider.com/en/letter-latvian-friend-donetsk/5355
Helps explain why newsoutlet viedoklis is so eager to propagate for the Kiev Yatzi junta when they only pay him potato.
Thanks for the link. I'll remember that when our mutual friend starts gassing about his great-grandpa who was deported to Siberia---because he was a Nazi collaborator, assuming he ever existed as such.
Frankly the best thing to do on Russia's Baltic coast would have been to implement the East Prussian solution---deport the bastards to Central Asia, all of them, and re-populate the three ugly Baltic sisters with loyal Russians. Today, at worst, they'd be Turkmenistan's problem, not Russia's---and we'd hear much less from newsoutlet.
Latvians known for small round heads.
small thinking
Latvian oblivious troll .
get lost goat...
I wonder if she's interested in importing a husband from the West. I would be willing to let her slap me around all she wants.
She's married to Yaroslav Kuzminov, rector of the Higher School of Economics. Sorry, Toolshed.
Brazil's central banker was like that. When the Russian - Asian - Latin American crisis happened in in 1997 - 1998, Interest rates were raised through the rough. It certainly calmed thge FX shorts down, and once calm returned, the market was allowed to take sway again.
It's one thing to believe in a free market - but one must have a weapon to take away the buffet fromo the financial ciminals using leverage on leverage upon leverage to initiate DNS attacks on the currency.
Her last name reminds of an old favorite from back in the days.
Mistadobalina
https://www.youtube.com/watch?v=GEPOgntWfiE
Fuck central banks!
I'm actually shocked that a central banker would try to support the local currency instead of destroying it. Yellen would choke a bitch to get the kind of runaway inflation seen in countries like Russia, Argentina, or Venezuela.
LMAO
the ussa does not want a intelligent central bank head.
the ussa wants exactly what it has.
that should be obvious to the most casual observer.
LMAO
You don't need to do anything with the US economy................it's been done already. Just a case of watching and waiting.
Amazing how this is all sorting itself out - and quickly...
Putin and co. clearly doing their version of Ronald Reagan... my how things have flipped. There goes Hawaii... that's what i call social justice.
I am a little distrustful of correspondants who claim to know the thoughts of world leaders and their central banking heads.
Glad Russia and the Ruble are not suffering as badly as before.
Elvira can't actually claim all the credit for that. A shock to exchange rates this large usually partly reverses itself, bringing the rate back closer to fundamentals. Mainstream economists call it "overshooting."
Debt eats brain, ya know?
Fun fact: Elvira is of Tatar heritage---she was born in Bashkiria in the Volga basin, where there is a large Tatar community. She clearly never got the memo from Kiev on how oppressed the Tatars are in Russia.
As a Canadian resident, I'd trade her for Steve Poloz (who, by all accounts, really is a non-entity who does what Stephen Harper tells him to do, and seems to boot to actually be proud of being a plastic Uke) in a heartbeat.
Mind you Elvira's looks don't quite match those of Carolyn Wilkins, the BoC's senior deputy governor. Sources I consider reliable go farther, claiming Carolyn is the real boss at the BoC, leaving the hopelessly incompetent Steve free to swan around mangling both official languages, insulting underemployed young Canadians and embarrassing the nation from Ottawa to Basel.
Link to a pic so you can decide for yourself who wins the central banker beauty contest.
http://www.bankofcanada.ca/wp-content/uploads/2014/02/carolyn-wilkins.jpg
Upvote: Carolyn
Downvote: Elvira
kinda silly post
Tatars are well blended into Russia
many bankers, and other especially Volga regions
Krim less so, cos several reasons, part being sorry govts in Kiev and outsiders foment them to trouble
but still a small minority disagreeable
Remember Tatars main was slave trade, especially take beautiful women from regions
Black Sea and North for sex serve and other for work...weak and old were murdered
Even into Russia, almost to Moscow once, before turned back.
Russ finally ended that and civilized.
One of times Russ protected Ukraine regions.
otherwise, your beauty contest is useless.
I know Tatars aren't oppressed in Russia. That was my whole point.
OK kinda hard to get that from your post...especially for those not used to ZH sarc attempts
realize if not obvious, sarc tags needed...I am not first to say this..
and the trolls like to bend things enough already..
Russians give a shit about each other. Our central bankers only care about how much they can steal. She can act with morality and Russian interests in mind because Putin is moral. Our government is mostly composed of a cabal of filth that would not allow any morality to get in the way of their goals. Shitty leaders have shitty followers.
Yellen & Billary - two most disguasting cunts in USSA
USA's Academia and Corporations and Federal Government REWARD Followers and those that get along to get Ahead.
USA = Greece
Cost of Living and Raise a Family in the USA precludes being critical of your boss. Simple.
". . . US hiring the present Governor of the Russian central bank, Elvira Sakhipzadovna Nabiullina. It would still seem to be a mighty fine idea, though."
Sorry, but that is impossible. Nabiullina is too smart to get through the Congressional vetting process. Anybody who survives it does so by lowering their IQ 50 points and donning knee pads. She will do neither, so, "do svedanya."
I do admire her work in both the Finance ministry and the central bank over there in Russia. She knows her stuff and is more diplomatic than her previous boss, Kudrin, who got sacked for dissing Prime Minister Medvedev in public. Her career is worth tracking.
At least they are very succesfull in creating inflation.
https://marketrealist.com/2015/04/sliding-ruble-pumps-russias-inflation-...
Well done Russia's CB!
You guys crack me up. Textbook case of 1984-ism.
Two months ago, the Russophiles around here were calling for Putin to dismiss her and put someone in place who was not a tool of the West.
And now...
Instant rehabilitation and adoration. Total FOP (Friend of Putin) and the Smartest Woman Alive (excepting Hillary, of course).
We have always been at war with Oceania.
What can I say? She proved many of us wrong.
When our views of the facts change, we change our minds. It's a very different approach to that taken at the Philly Fed, for instance, where they get rid of the facts.
Not me. She is smart, close in of Putin Administration.
She is not obvious damager
No drama
Kudrin was a problem.
Russia is working away from what it was saved after bolshie/soviets damage
better go slow than mistake
hop before jump
Friend Volkodav, with respect, this is the russian mentality, to go slow rather than make a mistake. Yet if the Head of the Russian Central Bank was replaced by someone who was could work with westerners, but was educated independently of the west, then the shift to a currency that is controlled more by Russia instead of the West would be smoother. I am sure you know who created the russian central bank system of the 1990's, and how they still benefit
Nabiullina was not educated in the west.
Kudrin, others, worked with westerners too much already.
She humble beginnings. very hard study. Similar to President.
sure not ivy league.
Understand, I am not her fan, only do not know to say who better.....and others much worse
One can understand what she say...whereas Bernake, others never
I am not sure your thinking. What you recommend?
Remember Stolypin, Kennedy attempted strong righteous actions?
I think let other side decay, lose hearts and minds take time, patience is idea, unless must move cos shove comes
Look elegance of Crimea result.
"The Russians saddle their horses slowly, but ride fast" Otto Von Bismarch
I kinda look at it like methods take time.
What would you do?
I'm rubber, you're glue....
Way more hot too.
Ilargi (of Auto Earth) should be a seasoned enough writer to know better than emitting this specious article.
The topic however is worthy. Yes, let's discuss the Central Bank of Russia.
Who owns it? Controls it? Is it 'private', public, fig-leaf private/public?.
Does it issue money-credit beyond the rate-of-growth of the Russian economy?
Does it sell/buy bonds on behalf of the Russian government? Does a favored interest group benefit from this such as the primary dealers do with the FED in the U.S.
How is the Bank Head choosen?
Does the Russian Bank Head attend the bi-monthly BIS meetings (of fellow CB heads) in Basel?
I've researched the Central Bank of Russia on the Internet and couldn't find much of value. Perhaps it's necessary to speak Russian. Can't say (where's Dmitry Orlov when you need him).
-------------
Note to Everyone. The FIRST thing to do when sizing up a country is to figure out who controls the issuance of Money and Credit. Know that and you know who controls the country.
This article by Ilargi was a fluff piece.
The Central Bank of Russia is not state-owned - yet. There are talks in Russia that it should be nationalised. The head of the bank is appointed by Putin, that is why he was able to choose his own private conomic advisor to control the bank. Nabiullina is first of all responsible to the Kremlin. After all, everything works a bit differently in Russia:-) The fact that something is privately owned, does not necesaarily mean that the state cannot control it in Russia. Putin has made it clear many times - for example that famous case when a group of private factories was treating its employees badly, they did not receive their wages in time etc., furious Putin stormed into the factory, confronted the owners and tell them explicitly: "if you are not able to run your factories properly, the state will take them away from you." The billionaires were forced (literally) by Putin to sign an agreement about restarting the factories. I remember those magical Putin's words to the billionaires: "We can easily do it WITHOUT you. One way or the other, we can do it WITHOUT you." Or the case when a Western reporter was asking some bankers in Moscow about the crisis and asked if they will dismiss some employees or reduce their wages and the bankers said: "Reduce wages or even dismiss employees? Are you mad? The last thing we want is to "offend" the Kremlin." No matter what, it is always the Kremlin who decides in Russia and that is why Russia has been able to survive all those Western economic attacks and why it will be OK. And of course, that is the reason why the USA government has tried so hard to remove Putin:-) With him in power, the bankers have no chance of controlling Russia.
the banking mafia work solely for the banking mafia
Not really. The sharp fall in the Ruble is indicative of illiquidity. A liquid bank does not liquidate.
She is cuter than your average central banker though.
I think she is kind of cute and nerdy looking.
I bet she is a total freak in the sack.