Rouble Nationalization – the Way to Russia’s Freedom. Nikolay Starikov

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СКАЧАТЬ correlation with the export of natural resources. This is why a drop for oil prices causes a collapse of everything and everywhere. This is not due to insufficient tax collection from oil sales. The reason is that roubles disappear from the economy, which is followed by a collapse of trade, construction, reduction in salaries and curtailment of the whole production process.

      It is important to understand that the gold and foreign currency reserves of the country are not state reserves. This money is not to be spent. It has to stay in the storage of the Central Bank just to make it possible to issue roubles. The gold and foreign currency reserves do not do any good to the government or the people. Their role is completely different – this is guarantee, which cannot be spent and which allows to issue roubles. Why they cannot be spent is clear – if we sell dollars to cover the country's external debt, the roubles issued under the guarantee will remain in the country. The balance will be distorted. And this is against the rules. This is not acceptable.

      Here is an example: Putin paid Russia's external debt. Well done him, he cut one of the financial ropes that the global puppeteers used to control us. Only one so far – the other one is still in use. And he did everything 'in accordance with the rules'. The external debt was paid from the stabilisation fund which actually belongs to the state.[37] No money from the gold and foreign currency reserves of the Central Bank was paid to cover that debt. Why? Because it is not allowed! Why is not allowed? Because in 1944 in a town called Bretton Woods international agreements feigning further development of mankind were signed. We will talk about the Bretton Woods agreements and everything that has happened in the financial mirror-world since when in another chapter.

      And now let us continue being amazed while reading the law on the Central Bank. It contains a lot of much more important information. Again, we are going to deal with the main question: who is in charge of the Central Bank of Russia? Who controls it? It seems that no one. At least, no one in Russia. Article 1 on the law is unambiguous enough:

      'The functions and authorities specified in the Constitution of the Russian Federation and this Federal law, are exercised by the Bank of Russia independently from any other federal bodies of state authority, bodies of state authority in subjects of the Russian Federation or local government bodies'. We can try our last chance to find any governmental nature of our Central Bank by looking at the order of forming the governing bodies. Chapter III is called 'Governing bodies of the Bank of Russia'.

      Article 12. The Chairman of the Bank of Russia is appointed by the State Duma for a term of four years by a majority of votes of the total number of members of parliament. The candidate for the post of the Chairman of the Bank of Russia is presented by the President of the Russian Federation. The State Duma is entitled to dismiss the Chairman of the Bank of Russia upon the recommendation of the President of the Russian Federation'.

      Is that clear? The Russian President introduces and the State Duma appoints. The Duma as well dismisses the Chairman from the post. But this is just the beginning. The law is written in such a cunning manner that the possibility to dismiss the Chairman of the Bank of Russia from their position for the President and the State Duma is purely theoretical. In order to make sure in this, let us just read article 12 to the end.

      'The Chairman of the Bank of Russia can only be dismissed from the position in the following cases: 1) expiry of term in office; 2) disability which makes performance of duty impossible and which is confirmed by a state in the US government stocks and other abstract entities. You can see that for medical commission; 3) there is a personal resignation letter; 4) the person in question committed a penal offence and was found guilty and sentenced; 5) if federal acts regulating issues related to the activities of the Bank of Russia have been violated'.

      So, apparently, if the Chairman of the Central Bank: 1) is fit as a fiddle, 2) the term in office has not expired 3) is not willing to leave the job, 4) does not pinch wallets off old ladies, 5) observes the federal legislation (that is, does not credit his own country) – dismissing the man is impossible.

      He can even pinch wallets off old ladies but until there is a sentence from court, the State Duma cannot dismiss him. The Russian president cannot do anything either. It is interesting, is it not? Cannot the head of an organisation appointing a financial director dismiss him with a decree and appoint a new one? Or does he have to wait for four years? Or a sentence from court? Or summon a medical commission? No, in reality, the head of an organisation is free both to appoint and dismiss his subordinates. The head of state in Russia is the President. All other governmental officials are his subordinates whom he controls, not directly, but through ministers, governors, mayors, generals and admirals. And only the Chairman of the Central Bank is beyond time and space. The President cannot dismiss him or give him the sack. And if he does, the banker can appeal an international court. And the position of the head of the Central Bank is indeed a key position!

      Article 23. The federal budget funds and state non-budget funds are stored in the Bank of Russia unless otherwise specified by federal laws'.

      So, apart from the gold and foreign currency reserves… it also stores the whole Russian budget. Accounts of the Central Bank hold what used to be the unified Stabilisation fund. 'The Reserve fund and the National Welfare Fund are stored on accounts of the Central Bank of the Russian Federation to account these funds in foreign currency in Moscow'.[38] You would not be wrong if you said that the Central Bank is our everything, meaning that all funds of our country are concentrated there. And this key department is not controlled by the state?! Do you understand what that means?

      If you look closer at it, you will see traces of the compromise achieved by the Russian authorities and almighty bankers in the scheme of control over Russian finances. I would like to remind you that the Stabilisation fund that we have just spoken about was divided in two parts: they were called Reserve Fund and National Welfare Fund. So, the funds in the first one are controlled by the Central Bank, that is not the state, and the funds in the second one – the Ministry of Finance, that is the Government, that is the state…[39]

      Article 5. The Bank of Russia is accountable to the State Duma of the Federal Assembly of the Russian Federation. The accountability of the Bank of Russia to the State Duma means that the Chairman of the Bank of Russia is appointed and dismissed from the post by the State Duma on the recommendation from the President of the Russian Federation'.

      And this is all the accountability there is? But we have just found out that it is only an illusion because the head of the Central Bank cannot be dismissed without his consent and will. Incidentally, it is practically impossible to dismiss other bankers from the Central Bank.

      Article 13. The members of the Board of Directors are appointed for a term of four years by the State Duma on the recommendation of the Chairman of the Bank of Russia, agreed upon with the President of the Russian Federation. The members of the Board of Directors can be dismissed: at the end of their term specified in this article – by the Chairman of the Bank of Russia; before the end of the term specified in this article – by the State Duma on the recommendation of the Chairman of the Bank of Russia'.

      So it is only the Chairman of the Central Bank who can give the sack to stubborn colleague – as to dismiss a banker who is also a member of the Board of Directors of the Central Bank a recommendation of the Chairman is needed. The State Duma itself cannot dismiss bankers unless the Chairman of the Central Bank wants it. How can they say that the Central Bank is accountable to the Parliament then?

      What was it like before? In the USSR the financial system was based on the principles of common sense. The Council of ministers of the USSR, that is the Government, was in charge of the financial sphere. The State bank authorised to perform emission operations was the body that followed all instructions from the USSR Government regarding the monetary system. This was an antipode of today's Central Bank. It followed the orders of the Government, no consent СКАЧАТЬ