Monday, December 8, 2014

In the name of Rusian oligarchs, German Gref, Sberbank, told Putin that speculation against Russia is just rational business

In his big speech on December 4, Putin issued a stern warning to Russian currency speculators.

Today (December 8), the greatest among the speculators and private bankers of Russia, Herman Gref, the head of Sberbank (his former associate and ally, Nabiullina, is in charge of Russia's Central Bank), declared that these speculators are not really speculators, but merely very rational people doing business.

Gref further said that, as far as he and these speculators are concerned, they will continue to bet for the foreseeable future on the further devaluation of the ruble to which their actions are going to mightily contribute. To this extent, they are going to sit on foreign currencies, and they will keep doing so as long as the price of oil keeps falling. Thus, he assured Putin that Russian oligarchs will be basically working in sync with the West as far as the West's course on undermining Russia is concerned.

If I am not mistaken, then translated into the language of everyday, in the name of Russian speculators, oligarchs, liberals, and the fifth column combined, Gref just said to Putin: "Screw you. And we will."

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