In 1992, after the fall of the Soviet Union, entire Russia was put in the hands of Wall Street (Goldman Sachs, Larry Summers etc.) and the IMF. After all, communism had failed and it was time to embrace capitalism! These experts were supposed to create miracles using principles of free market and privatization that would make everyone prosperous.
In reality, Privatization became Piratization.
It was just the like the shock doctrine that Milton Friedman and his Chicago Boys inflicted on Chile in the 1970s. A slightly different version of the same playbook has been used on Greece since 2009.
In Russia, it was the Harvard Mafia that destroyed the economy by divvying up Russia’s natural resources and state corporations among a handful of oligarchs who, in turn, sold a chunk of the ownership to western elites for pennies on the dollar. The IMF gave generous loans to Russia, most of which went into the pockets of the oligarchs and Wall Street shysters. When the economy faltered – surprise! – Wall Street punished Russia by devaluing the Ruble and creating hyperinflation that decimated the economy and the savings of old people.
Russia’s leadership, including the two-term President, Boris Yeltsin, was handpicked by America’s elites. Below are 1. Headlines from U.S. media that boast how the U.S. helped Yeltsin win the Presidency and 2. Bill Clinton’s conversation with Tony Blair that show how the U.S. controlled the Russian parliament and could choose the Prime Minister.
Under the guidance of U.S., thousands of Russian factories were simply shut down. Russia’s GDP fell by 50% in 6 years and its military was in tatters. What no communist could achieve … the brightest minds of Wall Street had accomplished. In 1998, Russia defaulted on its debt, inflation hit 80% and millions of workers didn’t get paid for months. To solve this, the IMF prescribed more nonsensical and cruel advice: slash government spending, layoff more workers and raise taxes. This neoliberal “solution” only lead to more misery for most Russians.
The bleak 1998 was also the year when Vladimir Putin became the head of FSB – Russia’s intelligence agency. Next year, he was handpicked by Boris Yeltsin to become the Prime Minister of Russia. Few months later, on Dec 31, 1999, Yeltsin resigned abruptly and made Putin the acting President.
Putin had seen what happened when you trusted the reputable economists, banksters and vulture capitalists from the West. He fought the (traitorous) Russian oligarchs and sent them to prisons, one by one. The lucky ones such as Boris Berezovsky fled the country.
Under Putin, Russia’s nominal GDP grew 1000% between 2000 and 2013, and Russia became militarily strong again as well. He outsmarted the globalists in every turn in Georgia, Ukraine and Syria. He has kept the debt level low (debt-to-GDP is now at 18%, a number that the U.S. hasn’t seen in over hundred years) and has been able to survive the sanctions, the fall in prices of oil and the attack on the Ruble. That’s why even when only 45% of Russians think that the country is headed in the right direction, Putin’s personal approval rate is 82%.