RUSSIAN BAILOUT: Russia's Central Bank Bails Out Country's LARGEST Private Lender!
In this video, I talk with author and economic analyst John Sneisen about a MASSIVE bailout by the Russian central bank!
We've watched bailout after bailout and bail-in after bail-in this past year and this trend is not ending, it's only getting more common. Russia's central bank has bailed out Otkritie Bank, the largest private lender in Russia! This is a massive bailout costing taxpayers around 260 billion dollars according to Otkritie's market cap. The bank has seen a negative 18% return this year and this is mostly due to horrible risks taken by the private lender.
The Russian Central Bank.
Otkritie played a critical role in bailing out Rosneft Bank in 2014. It turns out it wasn't a good investment... Go figure...
There appears to be a powershift in Russia as the Kremlin buys up the banking system. We can call out who is in control of the banking systems and where, but it's not about who owns the banks as much as it is about the manipulation and central planning. The actual implementation of that which shoves individuals into debt perpetually and creates vast amounts of poverty.
John Sneisen breaks down how this will affect people and why exactly this is happening.
See the FULL video report here:
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The more things change the more they stay the s.............
Sorry Josh, can you bail me out and finish that for me dude?
LOL
wow nicely posted and said
Thanks for a very interesting article. Russia is still learning what a bank does. In the bad old days, to charge interest was thought to be a bad thing. To buy and to sell at a profit, or to lend money at a profit was called "speculation" and many Russians ended up in Siberia for that.
You will see, the next companies the Russian Central Bank will bail out, will be agro companies. Due to the sanction, the Russian agro business sectors made record profits. In the course of the famous Direct Line with Vladimir Putin, its representatives kept asking the Russian president to keep the santion on Western food. You can imagine the blow these companies will suffer once the sanctions are lifted.