(Image of Americans lining up to withdraw cash during the Great Depression)
The Central Bank of the Russian Federation is speaking carefully and confidentally to prevent an official bank run. “In recent days, the demand for cash has grown. To meet the increased demand, the Bank of Russia increased the issuance of cash to banks, and replenishment of ATMs will continue this weekend,” the bank announced the day after the war began. Historically, people have withdrawn their cash during times of war and political uncertainty. Human nature remains the same no matter what time period or country we view. We hoard wealth we when are fearful of the future, and when everyone rushes to the banks to withdraw their money they soon realize that there is not some safe inside the bank neatly stacking their money. The liquidity simply does not exist.
Russia’s central bank is also providing financial support to all sanctioned banks. “Banks will perform all ruble operations and provide relevant services to all customers as normal. All customer funds in foreign currency will be preserved and may be withdrawn in the currency of account. The Bank of Russia is prepared to provide banks with financial support in rubles and foreign currency,” the press release stated. “Banks remain highly resilient and have great potential to develop lending to the Russian economy. The balance sheet of each bank is predominantly (over 80%) denominated in rubles. Foreign currency loans have been granted mainly to solvent Russian companies that will continue to service them.” The Kremlin likely factored sanctions into their war plan, but it remains to be seen if they underestimated the impact those sanctions would have on their overall economy.
- Here is a detailed list of privacy oriented Search Engines I’ve found that won’t leave information conveniently under the rug
- You Will Be Shocked By How Much Money Is Being Pulled Out Of U.S. Banks, And Now The Biggest Bank In Germany Is In Trouble
- Weird war in Ukraine …
- This is how awesome Real Estate investments are in hyperinflation – Weimar example
- Walls are Closing In for Alvin Bragg. Rep. Marjorie Taylor Greene calls for his arrest
- Mexico ready for war against America, as 500,000 march in support of Mexican sovereignty/military intervention
- Germany on STRIKE – Largest strike in decades – No public transport, railroads, airports….everything!
- This Guy Absolutely Nails It…
- We’re Heading Into A Recession And The Machines Are Betting On A Big Market Crash
- Rothschilds took their bank private by paying out all shareholders a 28% bonus to get it done as fast as possible a few weeks before the crisis