Russians Are Pulling Billions From Banks As Fears Grow That Putin Could Seize Deposits to Fund The War
https://www.ibtimes.com/russians-are-pulling-billions-banks-fears-grow-that-putin-could-seize-deposits-fund-war-3806535Open linkView original on discuss.online
12 replies
In times of trouble, it's easier to sleep with cash under your mattress.
I'm not an economist but surely it can only give you some time. What happens when the value of the paper drops down to zero?
It won't drop to zero because it turns into something you can burn for warmth.
And the rich people who controlled everything and promised the world turn into something tasty.
There's no way I'm actually eating the rich. That's probably how they got the brainworms in the first place.
It's not a surprise when their card merchant systems don't work after shutting down the network because Ukraine were using it to guide their drones.
Russians still need to pay for things and they now need cash, this isn't by itself a sign of a run on the banks.
the problem are the consequences: if too many ppl withdraw too much, the banks run short on cash. people either can't withdraw, so some ppl will run out and can't shop any more or it can be fixed by printing more money and put it in circulation, which will devalue it and ppl need even more of it.
Ironically, Putin is worth estimated between $100 and $200 billion and could fund the war himself.
Mmmm, 2023 was $126 billion so technically true but not for very long.
He needs that money to restore Marxist Leninist Communism when the West is finally defeated.
Nice joke!
*3 Day Special Military Operation