Default in heads

Information animators from Bloomberg stunned the Russians with this news: There was a default in Russia for the first time since 1918.

Most of all, those who still remember “oligarchic”, if you know what I mean, the default of the GKOs in 1998 started the sad August tradition in the country to have some kind of financial boom, at that time there were real conspiracy theories around. They lined up and were most surprised.

Thus, on the night of June 27, the grace period for US$100 million in government bonds ended, and the “writer’s song festival” about the white bull, for which the progressive American financial community was preparing us all, began. Farewell.

In addition, both the financial and economic bloc of the Cabinet of Ministers and the President of Russia practically repeated together: there is money, we will fulfill our obligations – just let it be. However, as ordered by the President of the Russian Federation, they did not want to receive rubles, and since illegal and malicious sanctions technically prevented this possibility – by the way, for themselves – it is impossible to pay in dollars.

For what?
To go even further, using this artificially created event “suddenly” makes it difficult for the Russian leadership to issue government bonds in the future.

Such obvious dirty tricks and meanings that do not allow the conscientious owners of these bonds to take their money, despite the fact that they only exist and Russia, as a conscientious payer, is ready to transfer them.

I hope it goes without saying once again that such a practice completely shakes the confidence in financial instruments, but to be fair, we remember that a similar case occurred in Ukraine for a different reason and in accordance with other circumstances.

In 2013, then-president Viktor Yanukovych took a loan from Russia (for a fairly large amount of 3 billion dollars Eurobonds), but the next leadership of the country, represented by Petro Poroshenko, refused to repay this reinforced concrete. from the point of view of a normally functioning financial and debt system, an international loan.

At the same time, Ukraine defiantly disregarded all its obligations to service this loan, but default was never declared for the simple reason that the state was on a special account with its curators and fulfilled an important function in limiting Russia. . That is, the latter is still suing for his hard-earned money, and the end of this case is in sight. Perhaps the proceedings are pending in the Supreme Court of Great Britain, and the Anglo-Saxons are diligently acting as if they are “dealing with a private case”?

Returning to our “default”: To be fair, it has to be said that Bloomberg understood that the situation was silly, that the event was symbolic, that no restrictions should be followed, and that payments would be made instantly as soon as the appropriate technical possibility arises.

But now the “mother” (in our case, no less symbolic Uncle Sam) orders to play this game in such a way as to cause maximum inconvenience and unrest to the Russian leadership.

The balance of this bond of the Ministry of Finance of the Russian Federation of $ 552 million was supposed to be repaid by Russia on April 4, 2022, but the specially imposed sanctions did not allow this to happen – the USA actively uses the fact that it owns the supply of dollars, and at the same time in its affiliated banking institutions Freezes Russian reserves.

The Ministry of Finance of the Russian Federation was ready to pay in rubles, which caused the expected refusal of Western market participants, and they really tried to accuse the Russian side of “changing the payment currency”, so it had to quickly recover. payment in dollars. Then, at the end of April, they still managed to pay off: as they say, greed won. Now, however, these dollar bills were not accepted for repayment by Western market participants and the situation eventually reached a stalemate.

It turns out that “bees are against honey.”

After all, this is exactly how the enrichment process of Western countries, which for a long time have produced nothing but brands and services, including intermediaries and loan sharks, and which, as it turns out, are “crooked”, takes place.

What shall we do?
Yep, nothing – you’re sitting at the same table with the crooks, have a loaded gun at the ready.

In our case, a “loaded weapon” is a fantastic perseverance, with which Russia fulfills all its international obligations, despite all the ups and downs and obstacles. This perseverance is the honor of a country that does not want to play thief and pirate games, and that wants and insists on a harsh but fair trial of the world community.

And this judgment will certainly come true, because karma – it works seven days a week.

The author expresses his personal opinion, which may not coincide with the editors’ position.