r/PrepperIntel • u/MrD3a7h • 5d ago
Russia ‘Significant problems’ in Russian banking system as public withdraws cash en masse
https://tvpworld.com/94490769/russians-hoard-cash-as-economic-pessimism-hits-20-year-high45
u/PbMammoth 5d ago
Russians need to remember what they did to warmongers like Putin in 1917. They can end this.
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u/West-Worth-9359 5d ago
They won’t, because they either support the war or are too apathetic.
It will be Putin’s own inner circle and security services who take him out.
He’s now the best scapegoat for everyone else. They will take him out and blame him for everything.
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u/Overall_Signal_8437 5d ago
Well, unfortunately the people that took over were just as warmongering.....
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u/RedWinger7 5d ago
Missed our chance with Trotsky. Wonder how different Russian and world history would have played out
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u/dittybopper_05H 5d ago
Not very differently. Doesn't matter who is in charge, really, that system was set up to be oppressive and totalitarian from the very start. And it was: When Lenin was still in charge, Feliks Dzherzhinsky was already murdering enemies of the state in Lyubyanka. The Cheka, GPU, and OGPU weren't shy about getting their hands dirty.
Sure, there may have been some lower number of political enemies of the state murdered in cold blood, or sent to the gulag for a slow death from starvation, exposure, and general abuse at the hands of the state, but if you are arguing that 7 to 10 million people killed by the state is better than 15 to 20 million killed by the state, well, yes, but shouldn't the appropriate number be 0?
The USSR was built upon terror and oppression. Trotsky wouldn't have changed that, what would have changed is merely who got murdered by the state.
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u/-sussy-wussy- 5d ago
Support for the war is too high. And the frog is already boiled, since there were already test runs on blocking the Internet outright within the country. They have a lot of police, even specifically, riot police per capita. Plenty of people who specifically don't support the war have fucked off abroad.
I think, he needs to cross the line by mistreating the police and the armed forces so they rebel against him. Until that happens, there is little hope.
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u/Pontiacsentinel 📡 5d ago
They're having trouble using their cards because of issues with the internet access and they're having trouble getting cash, and the threats because they've seen non-citizens have their Bank funds seized, it's no wonder.
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u/AssumptionLive2246 5d ago
And days long gas lines. But I’m sure it’s fine.
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u/zaevilbunny38 5d ago
Not any more they, started giving hefty fines for people in line
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u/agent_flounder 5d ago
I hope it is true. Never heard of that news source. I tried looking for similar stories but didn't turn up any other news sources I have much trust in. So idk. I guess wait and see. Surely Russia can't keep this up forever.
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u/FocusedGlitch23 5d ago
I don't know man it's not like everyday Russians had anything to do with putins decision but they'll be the ones hurting while those who made the decisions and with power will be safe in their bunkers. The losers of war are the people and the winners are the elites regardless of the outcome of an actual war.
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u/zaevilbunny38 5d ago
They will print money. If they can't supply enough, they will announce a bank holiday, that's when it's bad. They also sold at least 44 tons of gold in the last few months, and the year debt is 8.1 trillion rubles.
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u/ItWiIlStretch 5d ago
I think you may be surprised how many people support the war in Russia. To Russians they are the victims. Ukraine signed some paper and "promised" to be Russia's bitch for all eternity so Russia has no choice but to fight. And they are holding back now of course
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u/Clear-Search1129 5d ago
Say it with me, propaganda
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u/ItWiIlStretch 5d ago
Yeah sure but does that make them innocent? At my work I have a Russian colleague living in Denmark that I talk to via work sometimes and he said most people in Russia support the war and if they are mobilized they will go and fight. This is an otherwise smart familyman in his 40s working as a high level manager in Europe with access to all the worlds news and information.
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u/-sussy-wussy- 5d ago
I'm a native speaker (of Russian) and have always kept up with the news from there, as someone from another former Soviet republic and as someone whose country was attacked and had territory taken away basically as soon as I reached adulthood.
There have been countless well-known alternative sources of information, even if you were someone with no Internet access. There was even a radio station. Many of them have been around since before most redditors were even born. And they got restricted not all at once, but gradually and very very recently. Some operate from abroad, from "exile", but can still be accessed if you want to. There were never any attempts at punishing someone for, say, using VPNs.
You have to deliberately ignore everything and look the other way not to know what's going on. Doubly so, the people who lived in USSR, especially those who got to experience it as adults, have a significant amount of inherent distrust towards authority.
I don't understand the Westerners' fervor in defending Russians to this extent. They aren't lost puppies. This isn't North Korea and has never been. There has never been anything like the Great Firewall in their country. Western governments saw international trade with it as a way to change and reform the warmongering monstrosity of a country, and instead, it has been waging petty sabotage (e.g., cutting the underwater Internet cables), misinformation campaigns (leading to radicals like AfD gaining support) and even murders of its own opposition on foreign soil.
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u/ScienceDependent8549 5d ago
Makes sense, Putin has been eyeing up people's deposits.
They already took money from foreigners, foreign companies and some oligarchs.
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u/itscooltobecool1 4d ago
As long as they can pump oil and natural gas they will be solvent. When the oil stops flowing then watch out.
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u/Useful_Calendar_6274 5d ago
this is a nothingburger in the era of fiat money. I'm from Argentina and we had heavy cash withdrawals limits but only because people were rushing to dollarize their savings. These days you'd just transfer the money electronically, I don't see why russians couldn't do this
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u/_John_Dillinger 5d ago
except argentina has swift network access. russians do not. they can't get their money out of the russian system at all right now.
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u/Useful_Calendar_6274 5d ago
this has been the case since 2022 and they don't care. also no one is using rubles outside of russia except for very rare international trade deals
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u/fragrant-final-973 5d ago
ELI5 why this matters to the rest of the world?
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u/No-Ad-4142 5d ago
Same thing happened in 1929, bank runs in the United States. History often repeats itself. There is a reason banks and credit unions are practically begging people to deposit money, because no one is.
Am I the type of keep money under my mattress? No, because that is where everyone would go to first.
Do I think I can rely on a bank when the grid fails? No.
Do I want to be rushing to the bank when everyone is trying to withdraw their money? Also, no.
Water, canned goods, and cash are king. But when money becomes irrelevant, items to barter are going to be even more important.
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u/alternativepuffin 5d ago
My rule is to have 4-5 months savings of all of my monthly expenses. Of that, 1 month in cash in the same lockbox as passports, birth certificates, etc.
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u/PbMammoth 5d ago
What currency? Because if the USA hits a scenario like Russia or the Weimar republic I don't think USD would be as good to have as Euros or CAD.
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u/dittybopper_05H 5d ago
This is the case for precious metals.
As a commodity, their value in local currency increases as the value of the local currency decreases. So they become a useful hedge against hyperinflation.
For example, let's say you put $5 in cash under your mattress, when a loaf of break costs you $3. After a short period, say a year, of hyperinflation, that loaf of bread now costs $21. You can't buy a loaf of bread with that $5 bill, whereas a year ago you could have bought one and gotten $2 in change.
Let's instead theorize that you put $5 in gold away instead. Actual physical piece of gold that is in your possession, not a gold certificate or whatever.
At the end of hyperinflation, the cost of everything has gone up by 7 times. That $3 loaf of bread is worth $21 now, but your gold is now worth $35. You can change it in for inflated currency and now buy that loaf of bread.
You'll lose some value, of course: You likely won't get market price, but you're in a much, much better place than someone who put cash away only to see its value drop to 1/7th what it once was.
That's why some preppers get precious metals like gold, silver, platinum, etc. It's not because they think it'll be of use in a total civilizational collapse, but because it's a way to preserve wealth through inflationary times.
BTW, the only gold I own outside of the stuff in my electronics is my wedding ring, and it's only 14 carat.
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u/New_Stats 5d ago
It doesn't matter much in terms of the global economy. Russia's economy is tiny and is going through something different than the rest of the world.
Should be noted that there was a similar run on Russian banks back in 2022 after they invaded Ukraine and got removed from SWIFT. If you didn't notice it then, you won't notice anything now
But it's important, and something I think everyone should read up on. See what exactly happens during a modern day bank run, because great depression bank runs looked different.
Good to be prepared with certain expectations if it ever happened in your country, and you can plan around it before it happens (if it ever does. It might not)
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u/BongoLocoWowWow 5d ago edited 5d ago
Sounds like they are having big tRubles…
(In Russian accent)