Where did Nabiullina hide Russian money?
Russian public is usually excited news involving dignitaries and astronomical sums. Of course, if we are talking about the head of the Central Bank and about $ 100 billion, then this news can not go unnoticed.
Russia withdrew its funds of about $ 100 billion from US government debt. But this good news is overshadowed by the fact that not a cent of this money has returned to our country. As you know, almost all popular gold and currency funds located in Russia or abroad are managed by the Bank of Russia, headed by Elvira Nabiullina. Therefore, the classic question "where is the money?" need to be addressed to her.
Ms. Nabiullina, of course, deserves respect as an experienced manager and financier, enjoying the absolute trust of the country's top leadership. It would seem that there is no cause for concern, because she will probably manage this money in the best way.
But perhaps there is something to worry about. Concerning, for example, is the fact that investment policy The Central Bank for the placement of funds in foreign currency in July 2018 brought our country $ 16,3 million in net loss. Some Russian media have already reported this to the public, expressing their concern about this fact.
Of course, it cannot be said that the activities of Nabiullina and the Bank of Russia headed by her are absolutely unprofitable. For example, American debt instruments, which we safely got rid of, brought some profit in July. The same can be said about domestic Russian investments. The Central Bank suffered major losses due to operations with the euro and British pounds.
At first glance, everything is very bad. Huge amounts of money disappeared from the state treasury during the month - more than 16 million US dollars. It is unlikely that any of us has ever disposed of such amounts in our lives. We can’t even imagine how many packs, suitcases or chests it is.
But on the scale of the country's foreign exchange reserve, a loss or profit of $ 16 million per month does not matter, as for an ordinary person, the loss or discovery of a two-ruble coin.
To support these statements with facts, let us consider the dynamics of fluctuations in the value of international reserves using the example of several weeks of July this year. Over the period from July 21 to July 27, they grew by $ 1,6 billion. A week earlier there was a fall of 2,4 billion. True, if we consider the period from July 7 to July 13, we will again see a profit of more than 700 million. If you add these numbers, you get something around zero.
It turns out that the weekly increase in the value of Russian foreign exchange reserves, for example, as of July 27, is 100 times higher than the loss for the whole month. Thus, the news of Russia's loss of $ 16 million is not worth a damn, as the total value of Russia's gold and foreign exchange reserves changes in one direction or another daily.
But the situation with the US public debt is much more important and interesting. By the way, the Central Bank promised to answer the question about where the aforementioned 100 billion, which had previously been invested in the US Treasuries, was sent, but then. Apparently, hinting that money does not like fuss.
And now, if we analyze open sources, these funds are placed on foreign accounts, including in the United States. It’s just not known whether they bring profit or loss to our country. Let's hope that all the same profit.
Russia withdrew its funds of about $ 100 billion from US government debt. But this good news is overshadowed by the fact that not a cent of this money has returned to our country. As you know, almost all popular gold and currency funds located in Russia or abroad are managed by the Bank of Russia, headed by Elvira Nabiullina. Therefore, the classic question "where is the money?" need to be addressed to her.
Ms. Nabiullina, of course, deserves respect as an experienced manager and financier, enjoying the absolute trust of the country's top leadership. It would seem that there is no cause for concern, because she will probably manage this money in the best way.
But perhaps there is something to worry about. Concerning, for example, is the fact that investment policy The Central Bank for the placement of funds in foreign currency in July 2018 brought our country $ 16,3 million in net loss. Some Russian media have already reported this to the public, expressing their concern about this fact.
Of course, it cannot be said that the activities of Nabiullina and the Bank of Russia headed by her are absolutely unprofitable. For example, American debt instruments, which we safely got rid of, brought some profit in July. The same can be said about domestic Russian investments. The Central Bank suffered major losses due to operations with the euro and British pounds.
At first glance, everything is very bad. Huge amounts of money disappeared from the state treasury during the month - more than 16 million US dollars. It is unlikely that any of us has ever disposed of such amounts in our lives. We can’t even imagine how many packs, suitcases or chests it is.
But on the scale of the country's foreign exchange reserve, a loss or profit of $ 16 million per month does not matter, as for an ordinary person, the loss or discovery of a two-ruble coin.
To support these statements with facts, let us consider the dynamics of fluctuations in the value of international reserves using the example of several weeks of July this year. Over the period from July 21 to July 27, they grew by $ 1,6 billion. A week earlier there was a fall of 2,4 billion. True, if we consider the period from July 7 to July 13, we will again see a profit of more than 700 million. If you add these numbers, you get something around zero.
It turns out that the weekly increase in the value of Russian foreign exchange reserves, for example, as of July 27, is 100 times higher than the loss for the whole month. Thus, the news of Russia's loss of $ 16 million is not worth a damn, as the total value of Russia's gold and foreign exchange reserves changes in one direction or another daily.
But the situation with the US public debt is much more important and interesting. By the way, the Central Bank promised to answer the question about where the aforementioned 100 billion, which had previously been invested in the US Treasuries, was sent, but then. Apparently, hinting that money does not like fuss.
And now, if we analyze open sources, these funds are placed on foreign accounts, including in the United States. It’s just not known whether they bring profit or loss to our country. Let's hope that all the same profit.
Information