The Russians paid over $25 billion out of banks this year, reported the “Washington Post” on August 18. Only in the first 2 weeks of August would the strategy drain $3.4 billion. This is simply a signal of panic in front of you, which is financing the war in Ukraine with an increasingly violent drainage of your own back.
The money's out of control.
The Russians paid out of the banks this year Over $25 billion, stated on 18 August "Washington Post". According to the journal, only in the first 2 weeks of August were the $3.4 billion out of the system, and in June and July a full of $11.8 billion. It's not just a redeployment. It's a reaction of a society that is little and little trusting in its own country.
Interia, summarizing the findings of the U.S. Journal, indicates that the Russians fear the possible confiscation of private property by the Kremlin. In a state ruled by Vladimir Putin, this fear did not come from the air. The war in Ukraine costs more and more, sanctions and arms spending compression finance, and the state apparatus has accustomed citizens that property is safe only as long as it does not disturb power.
For Poland it is an crucial signal. Russia is not just an external aggressor. It is besides a country that in the name of war is ready to scope deeper and deeper into the pockets of its own citizens. specified a strategy can be dangerous, due to the fact that the crisis can push the Kremlin into an even tougher policy, and at the same time it shows its weakness: citizens' assurance begins to crack where the discipline of fear was to operate.
Fear of "mobilising" savings
In June, the speech of Russian Communist leader Giennadi Ziuganov, who spoke about the “mobilization” of money held by citizens and companies in banks, was made public. According to The Moscow Times, 130 trillion deposits, i.e. more than a fewer yearly state budgets. Even if it was a political test balloon, the intellectual effect is obvious.
In Russia, the word “mobilization” sounds different present than in a peaceful country. It means that the state can take the man, his time, his work, his freedom, and now in the imagination many besides his money. So people pull out cash due to the fact that the paper at home seems more safe than the number in the Kremlin-dependent bank.
This fear fits into the broader practice of the Russian state. Putin had already cut off migrants from consular assets and services, building a strategy of force on citizens abroad. Now akin logic goes back inside: if war needs money, privacy and property go to the background.
Banks under force of war
"Washington Post" besides writes about liquidity problems in the banking sector and weaker request for Russian state bonds. It hits the mechanics of financing war. The Kremlin needs banks, civic savings and forced optimism. erstwhile people start taking cash in bulk, the full image of stableness becomes little reliable.
The Russian economy has been presented for years as being resistant to sanctions, as the state continued to sale natural materials and the reinforcing factories pumped production. But war has a price. Inflation, advanced interest rates, corporate debt and state capital control form a blend that cannot be covered by tv propaganda. erstwhile a citizen stands at an ATM, propaganda loses with a simple question: will I get my money back tomorrow?
This is the state that has put imperial ambition beyond the average lives of its own citizens. There is simply a sober lesson for Poles. Russia is spoken through strength, deterrence and resilience of the state, not by delusions of "normalization". The Kremlin can wobble economically, but that's erstwhile it can be the most dangerous.
Lesson for Poland
Poland cannot look at Russian troubles as a distant curiosity. all sign of financial stress in Moscow is crucial for our security, for the war in Ukraine and for the resilience of the full region. The weak Kremlin does not automatically become little aggressive. He can effort to export the crisis, look for fresh force tools and rise the stakes.
That is why we request a tough policy: a strong army, a resilient financial system, control over strategical infrastructure and a cool assessment of Russian movements. Russia besides plays information and disinformation, so the banking panic in Putin is at the same time an economical fact and a political signal. An empire that scares its own citizens can take a long time to strike. But its foundations break from the inside.
Source: Interia, “Washington Post”, “The Moscow Times”
Source: Interia Events
