Another joke of Russian government

Russia-InfoCentre ^ | April 12, 2007 | Olga Pletneva

[eastern]

Recently Russian authorities have remembered of all those people who lost their money kept in the Savings Bank of the RF in the year of 1991. That is the time when state-controlled prices were released according to the new economical policy of the country. The cost of products rose enormously within several months, the ruble as a national currency decreased in value with the same speed. People wanted to withdraw their deposits made earlier, but the Savings Bank was prohibited to pay out funds, while money got cheaper with every day passed. The situation was aggravated by the fact that lots of Soviet citizens submitted to the influence of the slogan “keep your money in the Savings Bank” and deposited substantial sums to the only bank functioning in the Soviet Union then.

The decree signed by the Russian Prime Minister says all the citizens, who set up accounts in the Savings Bank before June 20, 1991, must be paid compensations to. The Russians under the age of 54 and disabled persons of the second group are due to receive only the advance compensation equal to the nominal value of deposits. This point equates modern Russians rubles to the Soviet ones of that period, but the payment size is limited by 1000 rubles. Moreover, this funny sum is not so easy to get if the deposit was withdrawn before 1996. In this case the size of compensation is smaller: 90% - if the deposit was closed in 1995, or 60% - in 1992.

[mtbopfuyn]

Just wait until our IRS looks into this for us...

[ASOC]

I worked in Russia in ‘95.

All the locals we had on payroll insisted that they be paid by noon on payday. We paid in rubles as required and they would rush down to the local bank and exchange the rubles for dollars, the ruble was and suspect still is, extremely volatile.

I wonder when the dollar suffers the same fate?

Trade in your old greenbacks for the new FedGov brownback at a 100:1 or 1000:1 - saving wiped out overnight etc......