Thread by @ChrisO_wiki

1/ Russians are increasingly worried that they face a repeat of one of the greatest traumas of their recent history: the loss of their savings, as last happened in the economic crisis of the 1990s. Russian commentators are aghast at the prospect. ⬇️

2/ Central bank officials and politicians in Russia have recently been floating the possibility that, due to Russia's worsening budget deficit caused by sanctions and the war in Ukraine, the government may confiscate deposits above a certain amount and issue credit notes instead.

3/ 'Troika' is one of many commentators on Telegram who is reacting strongly to this prospect:

"The process of withdrawing 67 trillion rubles in deposits in exchange for toilet paper has begun."

4/ "It's time for Russians to get their money out from under their pillows, said Finance Minister Anton Siluanov.

He said almost everyone has savings, but they don't work for either their owners or the economy.

5/ "The minister urged people to "learn how to manage money" and invest it in Russian bank deposits rather than just keeping it.

(The immigrants won't pay for their own welfare.)

6/ "Central Bank Governor Nabiullina also weighed in on this, stating that Russians' savings are now becoming the only source of financing for the country's economy. "Everything rests solely on Russian savings," she concluded.

7/ "We believe everything will be completely transparent, fair, and beneficial for Russians. Just like in the 1990s."

8/ 'Blue Beard' also sees parallels with the calamitous 1990s:

"Russians' savings have become virtually the only source of financing for the Russian economy, as Western capital markets closed to domestic companies after 2022, stated Central Bank Governor Elvira Nabiullina."

9/ "Our export sector, which previously attracted loans abroad, could borrow from citizens of Europe and the United States. Now, global savings are inaccessible to us. Our primary source of funding is Russian savings," Elvira Nabiullina stated.

10/ "Meanwhile, Finance Minister Anton Siluanov declared that "it's time for Russians to take their money out from under their pillows."

He claimed that almost everyone has savings, but they allegedly don't work for either their owners or the economy.

11/ "The minister urged people to learn how to manage their money and invest it in Russian bank deposits, rather than keeping it safe.

12/ "And according to the majority of citizens, our financial and economic elite should learn to operate a sewing machine and wear out their quilted jackets, because what they're currently doing to the country's economy is pure sabotage.

13/ "There's also a proposal to pay attention to the super-profits of the oligarchy, whose combined wealth exceeds four times the national military budget.

14/ "There's definitely money there. But the financiers' focus is only on the taxpaying population and their miraculously accumulated savings.

15/ "People had already seen this in the early 1990s.

Back then, too, they effectively confiscated the people's funds, then promised to return them and even increase them, but in the end, it turned out to be pure theft.

16/ "And even if the plan suddenly changes dramatically now, the bad taste remains, and the spoons haven't been found.

17/ "All people will do now is rush to withdraw—in other words, rescue—their money before it's frozen, and buy appliances, cars, and housing, which will further inflate prices for all of the above.

18/ "Not to mention the fact that the sudden withdrawal of deposits will truly push the economy to the brink of collapse.

Excellent economic plan, damn it.

At first glance, you couldn't even imagine anything more stupid."

19/ Alexey Zhivov says there is a very good reason why people are keeping their money "under the pillow" – they fear that the state will find pretexts to confiscate it if they declare to the authorities:

20/ "67 trillion rubles of deposits are turning into… deposits are turning into….

“These are the only means by which the Russian economy can grow,” Nabiullina stated.

21/ "Siluanov added that now is the best time to take the money out of your shoe boxes and put it in a bank account.

Everyone's smiling and waving. Joy.

22/ "There have already been leaks online about plans to freeze a ton of retail deposits for a year or two. Probably a hoax. Although some experts are already vocally suggesting it would be a good idea to freeze retail deposits and use them for government needs.

23/ "Siluanov isn't just talking about citizens' cash savings for no reason. The population has accumulated around 25 trillion rubles in rubles and foreign currencies, and even more in gold.

24/ "Siluanov is suggesting his compatriots invest these 25 trillion in bank deposits. But there's a catch.

25/ "2026 has been declared the year of absolute transparency in Russians' pockets, and every kopeck left lying around without a valid reason could lead to a tax investigation, or worse.

26/ "And from experience in our glorious country, we all know that anyone who comes out "clean" will be "loved" by every service and department until they've fully atoned for all their sins against the state.

27/ "So no one's rushing to get 25 trillion rubles and run to the bank. Many people's money is [treated as] grey or criminal. It's [a choice of giving it to] either the prosecutor's office or Ukrainian scammers.

28/ "Where are our BRICS partners who can invest in our economy? There's far more money in the world than there are physical and virtual assets in which to invest it.

29/ "But since the careful discussion about Russians' deposits and cash savings has already begun, it's likely that there will be fire behind the smoke.

Those with ears will hear.

30/ "By the way, does Elvira Sakhipzadovna want to take the fall for the 300 billion she left in bank accounts in the EU and the US?! People are interested." /end

Sources:
🔹 t.me/rustroyka1945/…
🔹 t.me/beard_tim/32429
🔹 t.me/zhivoff/26219