The Russian Central Bank Reverses Course


Operation Disclosure | By David Lifschultz, Contributing Writer

Submitted on March 1, 2022



Russian Central Bank takes ruble off life support. This report issued on March 1 at 8:00 A. M.

This follows my report on February 28 at 10:51 AM.

Mon, Feb 28 at 10:51 AM analysis distributed to our distribution list:

The Central Bank head in Russia under the incompetent Elvira Nabiulliana was acting against Russia as her aide Serge Shvetsov who transferred over a trillion dollars in stolen oligarch money to London’s Lord Jacob Rothschild. The purpose of her action is ostensibly to support the ruble which according to US planning is being destroyed by the west by sanctions and currency wolf packs who are exposing themselves by selling rubles short. There is really almost no amount of money that can beat the dollar manipulators against the ruble. A 20% interest rate will kill the Russian economy unnecessarily and must be brought back to 9% immediately. We are pleased in the report above where the Russian Central Bank has ceased to support the ruble as it was in the next link.

Its chief effect was to support imports that should not be imported. There may be a time for this but not now as pointed out below in observing the master Dr. Hjalmar Schacht.  The fall in the ruble is thus favorable to Russia which should revert to Stalin’s total self-sufficiency that he achieved in 1938 when he had the whole world against him as Russia does now except for China.  It is good then to see import prices rise as these goods should be produced domestically and be replaced by domestic production. But this will not overly affect other internal prices. Therefore, I would just let the ruble fall to find its own level which will for a while be lower than natural forces would permit as the US will be driving it lower through sanctions and short selling manipulation in this form of economic war against the Russian Motherland.

The traditional manner in which the ruble is supported is by selling its foreign reserves or gold to buy rubles accompanied by the rise in interest rates. But this weakens Russia which could require these reserves to buy vital products needed for national defense until those products too are made domestically.

If my credentials are required, I wrote the anti-inflation plan in the US for Paul Volcker who I ordered to implement it on behalf of the deep state and it worked. Then I ordered him to relent when inflation was beaten and he acted at once. I was part of the deep state. I also handled the crashes of 1987 and 2008.  But we had a different problem when we raised interest rates to slightly over 20% in 1979. First, we had the OPEC dramatic price rises in the early and late 1970s. We did not fight it but monetized those increases, and inflation rose and rose.  If we had not monetized it, the economy would have fallen considerably which would have been the classically correct manner of addressing though it should have been addressed politically as we explain below. But here Russia faces a manipulation which is a lot different than Russia monetizing an inflation. Here you are facing overwhelming power governing sanctions and wolf pack sellers of the ruble so you have to let the ruble fall and fall until you can reverse it at the low ebb where you can rout the manipulators as Schacht did in Germany in 1923. In any event, this is not so bad as Russia will be forced to make the imported products that they should be making themselves anyway as Stalin taught.

The 1973 oil crisis or first oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries led by Saudi Arabia proclaimed an oil embargo. The embargo was targeted at nations that had supported Israel during the Yom Kippur War.[1] The initial nations targeted were Canada, Japan, the Netherlands, the United Kingdom and the United States with the embargo also later extended to Portugal, Rhodesia and South Africa. By the end of the embargo in March 1974,[2] the price of oil had risen nearly 300%, from US$3 per barrel ($19/m3) to nearly $12 per barrel ($75/m3) globally; US prices were significantly higher. The embargo caused an oil crisis, or “shock”, with many short- and long-term effects on global politics and the global economy.[3] It was later called the “first oil shock”, followed by the 1979 oil crisis, termed the “second oil shock”.

The US was monetizing the OPEC oil price rises creating a generalized inflation. We had betrayed the Arabs by opposing our erstwhile allies and brought these problems on ourselves and this could have been worked out with our Arabian friends by supporting them. In other words we printed the money or to be more literal we created bank credit. We later solved the problem by tightening credit under my supervision, creating huge rate increases, and created the foundation for economic growth. That was the appropriate action then. But Russia faces a manipulation problem where the US is creating sanctions and fomenting disorder in the foreign exchange market to crash the ruble to destroy the Russian economy. This is quite unfair as the US has broken and is breaking all their agreements with Russia that all Eastern Europe and the Baltic States including the [redacted] were not to be made part of NATO and the US has caused this problem by betraying its 1991 agreements. We have covered this in detail in another report issued to the same list. Raising interest rates is the way for Russia to succeed in destroying itself as the US wants. That is not the right way.

The right way is the let the ruble fall as they wish it and if necessary creating a mechanism where the Russian Central Bank will provide subsidized foreign credits or dollars to buy “essential” military goods as computer chips from available black market sources if necessary for its industry outside of the ruble valuation. Readers should understand that anyone who can afford a hydrogen bomb can find it offered in the black market so the issue of proliferation is used more as a political weapon than anything else in relation to Russia’s ally Iran. Vital purchases will be controlled by the method above recommended. This is the way to preserve for Russia its internal foreign cash and gold. A main reason for this is that Russia as under Stalin has to become self-sufficient and produce all it imports which it has the capacity to do in alliance with China and Iran. That alliance which controls half of the world’s oil supply is discussed in the speech in footnote one.

Here in Russia the ruble is not falling because of printing money or creating credits but based on US sanctions and authorized currency wolf packs who will sell the ruble short. At some future time the Central Bank should pick its time to intervene and destroy them as Dr. Hjalmar Schacht did in Germany in 1923. Let us say the ruble falls 90%. Then and then only is the time to crush the speculators by buying in the ruble forcing them to cover their exposed positions. That will teach them never to meddle with Russia again. Now if we wanted to preserve imports we would have to support the ruble but that should not be Russian policy. Russia should wean itself off all imports only in this way by letting the US have its run by this shock treatment it will be faster. (By the way, I recommended this same self-sufficiency plan to my friend Donald Trump which accords with the ideas of Henry Ford.) We understand Russia is planning to cease all diplomatic relations with NATO and redirect all natural gas and oil as well as all other commodities from the EU to China as fast as the pipelines can be built.  This applies to the [redacted] also which is coming under Russian control.  This currency approach outlined above has to be accepted for if you tighten money the whole Russian economy will fall which is the US goal making the government very unpopular if not lead to its overthrow as planned by the United States.

This is not to say that the Russian central bank has ever been well run which it has not except under Stalin. What we did in the US to build up China was guide their Central Bank in the 1980s to create bank credit only for the investment in productive factories and create a DARPA to guide China as we did in the US toward the technologies that should be invested in. I was personally involved in this for the deep state.  For example, in the US all the parts of the iPhone were created under DARPA’s supervision. That is how Henry Ford, Harry Firestone and Thomas Edison created the US.  If you build factories with bank credit, then the growth in production offsets the inflationary effect in the growth in the money supply and there is no inflation. Elvira has been miseducated in the Milton Friedman doctrines of gradual monetary growth and does not target it toward productive investment. Russia has gone nowhere under Elvira and China has soared into the greatest economy in the world which we created then to defeat Russia as communist in the 1980s, 1990s until China decided to ally with Russia in 2014. There is no reason that Russia cannot grow 30 or 40 percent a year under this doctrine as long as it can build its infrastructure to handle the growth at the same time. It does not need the west at all.

As an aside, as communism fell in 1991, I recommended that we welcome Russia back as the prodigal son in Luke to our Christian Civilization but my colleagues in the deep state would have none of it. It was in 1991 it was decided to destroy Russia in the 1990s which we have covered in other reports but the poverty level in Eastern Europe and Russia was in 1989 14 million below the poverty level and in 1996 168 million with Russian pensioners begging in the cold winter streets for bread having had their social security payments inflated away under our CIA guided hyperinflation while they clicked their Champaign glasses in Langley.

And, lest I forget, the Russian oligarchs who have stolen half its wealth must be fleeced of their ill gotten gains and exiled.

We are pleased that the Russians have acted accordingly.

Russian Central Bank takes ruble off life support

David Lifschultz


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