Posted on 09/17/2023 2:59:05 PM PDT by delta7
Bank of Russia Chief says cash will not disappear from circulation
Elvira Nabiullina noted that the Bank of Russia was still developing cash and creating a new series of banknotes with a fresh design
MOSCOW, September 15. /TASS/. Cash will not disappear from circulation and the demand for it does not go away, Governor of the Bank of Russia Elvira Nabiullina said at a press conference following a meeting of the regulator's board of directors.
"Our fundamental position is that people should be able to choose how to make payments. We are presenting choices. We are still developing cash, and we are even creating a new series of banknotes with a fresh design. So cash is not going away, there was and still is a demand for cash," she said.
Head of the State Duma Committee on the financial market Anatoly Aksakov said in early September that the digital ruble can be used in international payments by 2025.
The Bank of Russia said earlier that the digital ruble will not be a substitute for bank accounts and deposits: interest will not be charged on balances in the wallet, moreover, it is planned to introduce a limit on the amount of funds stored in them. This is needed to prevent an outflow of liquidity from banks and a decrease in lending.
Paying for goods and services using the digital ruble will be similar to paying with a QR code through the Faster Payments System. It will be possible to pay with the digital ruble offline, without access to the Internet. The client will transfer part of the digital rubles to a separate offline wallet. Its use will be similar to paying in cash, where credit cards are not accepted. The launch of the offline mode of the digital ruble is scheduled only at the second stage of the project, approximately in 2024. It is also planned to launch the exchange of the digital ruble for foreign currency and open wallets for non-residents.
Bank of Russia’s Chief Elvira Nabiullina stated at a meeting between Russian President Vladimir Putin and the government on July 19, 2023, the mass introduction of the digital ruble could happen at the beginning of 2025.
EU as well. Even further ahead in the cashless agenda.
But hey !
The Globohomo elite of the West want to force cashless payments, open the border to the entire Whird World as well as pozz, trans and castrate your kids.
Putin does none of those things, but Putin is the real threat !
“July 2020, Vladimir Putin signed a regulation on digital financial asset (DFA) transactions that legalizes cryptocurrency transactions but prohibits their use as payments for goods and services.”
“China broadened its clampdown on the industry in 2021, and declared all cryptocurrency-related transactions illegal. The motive, it said, was to maintain national security and social stability.Aug 2, 2023”
Going to be really hard for the Leftists (Ukraine War supporters) to go after Putin on this one...but no doubt they’ll try!
Not saying Russia is a beacon of light but THAT will DEFINITELY not go over well with The Globalists(TM)
Another example of Russia standing up more for freedom than the US. :-(
I don’t want to have to move to Russia for their pro-cash, anti-gender change policies.
yah, Putin just murders anyone who criticizes him and molests innocent kids on the street
that’s your great “moral” leader LOL
nothing here in the USA 500, 1000, 5000, and 10000 banknotes wouldn’t solve.
that and the only taxes being sales taxes.
The US debt would be retired in 5 years
It's clear our elected leadership is working for the dark side and not the American people.
The good news is they may not like the outcome they are working toward. The bad guys may end up in prisons around the world while the citizens enjoy freedom and prosperity without the heavy thumb of tyranny on their backs. That's my hope anyway. We good guys outnumber the bad guys by a lot even if all demonRATs are working with the bad guys.
“Not saying Russia is a beacon of light but THAT will DEFINITELY not go over well with The Globalists(TM)”
Absolutely - which of course leads to the obvious question: Why do so many people with FR accounts want Putin out of the way?
so when do you move to Russia?
you make it sound like a Paradise
Both, the commie globalist west and the Russian / Chinese / Iran / Nork axis are evil.
We, still, have the chance to take back control.
Those in Russia, China, Iran and North Korea have no chance and no hope.
Printing Money is easy, backing it with gold—not so much.
Money is a substance created from nothingness.
Its value is determined by the whimsical imagination of counterparties.
In contrast, a bushel of wheat is measured in calories. And oil is measured in joules per barrel.
Imagination has no impact on those parameters.
Think for a moment to all the Apocalypse scenarios you have heard of in movies. Ever notice money is never involved?
They stand to gain monetarily from it…A bunch of Larry Fink fans.
Tyrant / professional liar LBJ on removing silver from our coinage:
“Some have asked whether our silver coins will disappear. The answer is very definitely-no.
Our present silver coins won’t disappear and they won’t even become rarities. We estimate that there are now 12 billion—I repeat, more than 12 billion silver dimes and quarters and half dollars that are now outstanding. We will make another billion before we halt production. And they will be used side-by-side with our new coins.
Since the life of a silver coin is about 25 years, we expect our traditional silver coins to be with us in large numbers for a long, long time.
If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content.
The new coins are not going to have a scarcity value either. The mint is geared to get into production quickly and to do it on a massive scale. We expect to produce not less than 3 1/2 billions of the new coins in the next year, and, if necessary, twice that amount in the following 12 months.”
The Globohomo elite of the West want to force cashless payments, open the border to the entire Whird World as well as pozz, trans and castrate your kids.
Putin does none of those things, but Putin is the real threat !
People will just barter.
Do not criticize our demented President’s monetary policies.
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