Putin wants to print money, too

[D-Mack]

Are two printing presses better than one?

SOCHI, Russia, Sept. 21 (UPI) -- Russian Prime Minister Vladimir Putin says the "architecture" of international finances needs to be changed in the wake of the Wall Street credit crisis.

Wrapping up meetings with French Prime Minister Francois Fillon in the Russian Black Sea resort city of Sochi Saturday, Putin said the crisis and the $700 billion U.S. banking industry bailout proposed by the Bush administration show the need for more than one center of financial gravity, ITAR-TASS reported.

"We all need to think about changing the architecture of international finances and diversifying risks," Putin said. "The whole world economy cannot depend on one money-printing machine."

Putin said Russia, Europe and the United States needed to work together to find ways to avoid future financial meltdowns.

"This issue should be considered not in a confrontation-like way, but very benevolently in order to find the most acceptable ways for the development of the world economy and world finances," he said.

http://www.upi.com/Top_News/2008/09/...3291222031328/

[phirang]

Re: Putin wants to print money, too

Are two printing presses better than one?

Aww, pootin' isn't keen on buying more Reno condo mortgages? Too bad!

[metalman]

Re: Putin wants to print money, too

Are two printing presses better than one?

when i read 'we' without the writer spelling out who 'we' are i tune out.

he and his friends?

he and obama and hu?

who?

no one.

shit blows up and whoever has the most left after the dust settles takes over the world financial system ala usa in 1945.

[GRG55]

Re: Putin wants to print money, too

Are two printing presses better than one?

Russia's press has been running faster than the Fed's. Go back and look at the money supply %'age increases for the ruble in recent years. Makes the Fed [even using John Williams Shadowstats] look prudent.

[D-Mack]

Re: Putin wants to print money, too

Russia's press has been running faster than the Fed's. Go back and look at the money supply %'age increases for the ruble in recent years. Makes the Fed [even using John Williams Shadowstats] look prudent.

Do they have M3 ?

MOSCOW, March 27 (RIA Novosti) - Russia's M2 money supply stood at 13.08 trillion rubles ($549.6 billion) as of March 1, up 1.3% month-on-month, the Central Bank of Russia (CBR) said on Thursday.

M2 money supply demonstrated steady growth in 2007, except for January and October, when it contracted 3.3% and 0.6%, respectively. Overall, the M2 monetary aggregate grew at an annual rate of 47.5% in 2007 compared to 48.8% in 2006.

M2 money supply in the Central Bank's broad definition includes total cash in circulation (outside banks) and balances in the domestic currency on accounts of resident non-financial organizations and individuals.
http://en.rian.ru/russia/20080327/102358301.html

M2
http://www.econstats.com/r/rrus__m10.htm

[c1ue]

Re: Putin wants to print money, too

Go straight to the source:

http://www.cbr.ru/eng/daily.aspx

As for money supply growing - absolutely true.

As with all rapid growth - some of it is bubble, and some of it is organic.

The crazy increases in energy prices certainly help!

The interesting facet - though - is that even with all that has been going on - the Ruble/Euro rate has been very stable. Even for the last 8 years.

So either the ECB is printing like mad also, or else there is some other dynamic going on :rolleyes: