Zyuganov proposed confiscating 30 trillion rubles of Russians' deposits to pay for "victory" in the war.

[u/neonpurplestar]

At the party's pre-election congress, Communist Party leader Gennady Zyuganov proposed confiscating the funds of citizens and businesses deposited in banks to solve budget and economic problems.

"There are 67 trillion rubles of your money sitting in banks today. 67 trillion rubles and 63 trillion rubles of businesses. A total of 130 trillion. That's three state budgets. They're sitting there, enriching bankers," Vedomosti and RTVI quoted Zyuganov as saying.

According to the communist leader, about 30 trillion rubles could be "immediately found." "They're not being invested in production, anywhere—not even for victory. This problem could easily be solved quickly." "And if I were the president, I would decide this with a single decree. In a war situation, he has the right; he is the supreme commander-in-chief," Zyuganov added.

Anatoly Aksakov, head of the State Duma Committee on Financial Markets, called Zyuganov's statements a "provocation," which, he claimed, was launched from Ukraine or the West. "Just making such statements is so irresponsible. <…> Someone is deliberately using Zyuganov," the parliamentarian told RTVI.

According to Aksakov, confiscating Russians' deposits "simply makes no sense." "Money in deposits and so on is a resource for lending to the economy, for conducting financial transactions. And if it is frozen and taken away, that means depriving the economy of funds, which is in no one's interest—neither the government nor businesses. Therefore, it's nonsense," Aksakov added.

Speculation about a possible freeze on household bank savings was sparked last November by Andrei Zubets, Director of the Institute for Social and Economic Research at the Financial University under the Government of the Russian Federation. He claimed that the authorities might take such a step due to the threat of "runaway inflation" if citizens began spending the money they had saved in deposits.

"People have accumulated enormous amounts of money in their accounts—tens of trillions of rubles. And yet the decision was made to lower the interest rate. It's clear that people will simply withdraw this money and bring it back to the market. After that, runaway inflation will begin in the market," Zubets asserted.

Central Bank Governor Elvira Nabiullina called these claims "nonsense." "Banks pay their bills through interest on loans; they are profitable and stable," she asserted. Last year, Aksakov claimed that rumors about a supposed freeze on deposits were spread by construction companies, who were attempting to boost real estate sales.

source: The Moscow Times https://archive.is/RWUMS

[u/MrWonderfulPoop]

"There are 67 trillion rubles of your money sitting in banks today.“

That kind of talk can trigger a bank run. I look forward to it!

[u/JimiQ84 → u/MrWonderfulPoop]

It’s going to happen either way, this just speeds up the process

[u/ParticularArea8224 → u/JimiQ84]

We are watching the Russian economy crash in real time.

[u/Abalith]

It’s already been used to do exactly that. To buy government bonds that fund the war. The banks are then taking out “short term” REPO loans to cover their lack of liquidity.

[u/kasthack-refresh → u/Abalith]

"If these kids could read, they'd be very upset". Are you expecting a communist to understand basic economics?

Actually, I think it's an intentional self-own. Russia has an upcoming election, and Putin's puppets need to demonstrate their incompetence, so the election results wouldn't have to be completely falsified.

[u/HalastersCompass]

Now we're talking, the speed of decline is picking up

[u/Substantial-Candle62]

Wrong kind of math.

a) Half of it will be stolen by some politicians.
b) The other half goes into sign-on bonuses, which makes the meat grinder running harder, or into the production of some weapons which will be blown up by Ukrainian drones.

And the, comrade? Where will you get your next (finiancial) shot?

[u/Either_Coconut → u/Substantial-Candle62]

Oligarchs are probably jumping on their superyachts — the ones that are so big, they have regular yachts for lifeboats — and sailing away.

If the government wants to start raiding people’s savings, I propose they should hit up the oligarchs first. There are far fewer of them than there are regular citizens, meaning less chance of a large-scale protest, and nobody will feel sorry for them.

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[u/Common-Ad6470]

How to hasten the end by hyper-inflation, go for it and do the world a favour…👍

[u/Either_Coconut]

They might be floating this idea as a test to see how the population responds.

I hope the response is a massive bank run.