Russia's CBDC is GOOD because it state owned!
https://simplicius76.substack.com/p/russias-cbdc-exploring-the-truth
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Russia’s central bank system doesn’t function in this way. In fact, the Russian central bank is not comprised of any member ‘branches’ and has no type of private or corporate ownership in the way of the U.S. Fed. It simply has offices of the main central headquarters in different parts of Russia, but these are just administrative offices and nothing more. Further, because of this much simplified structure, the bank is administered primarily by a far more transparent board of directors which are appointed by the Russian president and State Duma. And most importantly, those directors are not involved in the same conflicts of interest as are possible and rampant in the U.S.—i.e. sitting on boards of other major globalist conglomerates and private commercial banks.
In fact, in Russia the banking situation can almost be said to be backwards to that of the U.S. in the following way. In the U.S., the largest private banks control the government and its monetary policy by way of their direct control over the Federal Reserve itself. In Russia, the largest banks in the country, like Sberbank, VTB, etc., are actually majority-state owned. Which means the Russian government has the controlling share and say in them.
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In fact, what’s startling for people used to the cronyism of the West, is that if you click through each member of the Bank of Russia’s board of directors, you’ll note that all, save one, are career state bankers, economists, or some type of career state employees. Meaning they’ve worked in various positions in the Bank of Russia or other state institutions for the majority of their careers rather than in private hedgefunds, investment firms, corporations, and the like, as is so common in the U.S. Federal Reserve system.
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But recall what I just explained—the Russian central bank is not connected to Western financial institutions and the giant presumably-Rothschild banking system of the globe. Private capital and corporate banking institutions don’t own the Russian central bank, they have no stake or share in it whatsoever, unlike in the Western institutions. Hence, any CBDC created by Russia’s central bank in fact serves only the Russian state.
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The above Forbes article from earlier this year underscores some of my points, stating: “Today Russian banks are mostly state-run. The biggest commercial lenders are all state-controlled.”
In fact, the article bemoans how Bank of Russia head Elvira Nabiullina yanked the licenses of a bunch of zombie commercial banks or bought them up under state control, consolidating Russia’s state power over the banking industry.
Then there’s this shocker:
>In 2014, there were 923 commercial lenders in Russia. Last year, some 370 remained in business. RCB data shows over 600 private banks have lost their licenses under Nabiullina’s tenure.
Read this very carefully:
>“Nabiullina has completely destroyed the private banking system of the Russian Federation. Due to her activities, it collapsed into one big state banking system, controlled by Nabiullina herself and her people. She has been performing her activities since 2013, consistently closing private banks”,
a financial sector source said in Moscow.
Interesting, wouldn’t you say? And given the fact that Nabiullina is Putin’s chosen, who served as his previous personal economic advisor, we can only surmise that this was a Putin operation through and through, to destroy the Western banking cartel influence over Russia and centralize Russian banking under the state, as it should be. The article even mentions how Putin “personally approved” of one of the big stated bank sales, lending credence to this angle, and also support to the idea that Putin was supervising Nabiullina’s hatchet job on the Western-owned-and-invested financial industry.
Note how Russia peaked in its number of ‘credit institutions’, i.e. private banks, during the lawless post-Soviet collapse where Western finance completely took over and gutted the country. Western banking institutions flooded through Russia like a Wild West free-for-all. Then after Putin took over, the number of these institutions has gradually been dropping. In fact, the chart above goes only to 2015, and shows 600+ institutions at that point. Currently, Russia has dropped to a mere mid-300s. Do you see what’s happening?