Russian President Putin signed a decree exempting participants in the war against Ukraine and their families from repaying overdue loans under certain conditions, according to Tuesday reports. The measure applies to Russians who signed military contracts with the Defense Ministry from May 1, for at least one year, with debt relief capped at 10 million rubles ($138,504).
Source: Impossible-Raccoon42
26 Comments
Volunteers with benefits
That’s going to lead to a huge influx of volunteers if true
Another whiff of desperation.
Going to be a really nice subprime crisis in russia when the war is over…
This just seems like a good way to trigger a recession.
If banks can’t collect on large percentages of loans, they’ll stop giving loans. Civilian businesses won’t be able to expand, lines of credit will dry up, economic activity grinds to a halt.
Desperate
He doesn’t care about the lives of his people. He’s determined to continue the war no matter what it takes.
Activate the money printers……
It’s all crumbling at an alarming rate – if you’re ruSSian, for the rest of us it’s great news 😂
138,504 dollars for a human life…
They’re still gonna pay for their loans one way or another.
That means the enlistment bonus rises to the equivalent of $138,504 per soldier. Those who sign up for it will surely take out a quick loan beforehand. Anyone considering signing up wouldn’t want to pass up an offer like that. Putin must be truly desperate to be raising the bonuses to such heights. For the approximately 35,000 new soldiers needed to replace current Russian losses at the front, that amounts to nearly $5 billion a month and $60 billion a year. The Russian budget won’t be too happy about that.
10mil rubble to 138k usd, pfffft
I totally believe him.
You can’t get blood out of a stone or rubless out of a dead russian soldier
I mean, if the banks are collapsing anyway..
https://szru.gov.ua/en/news-media/news/the-banking-crisis-in-russia-is-already-underway–just-in-a-hidden-form
Once they’re dead, a few weeks later, they’re no longer ‘participating in the war’, and the loan repayments have to start again…
So the respite duration is the average life expectancy of a Ruzzian soldier at the front… ie. not very long…
and most are just “Missing” and without a corpse they dont get anything paid ;D
Well… too bad no one is getting this money.
It’s a trick, they will be sent into a meat wave after 2 weeks of rolling around in the mud pretending to train
If you die, your debts become no problem to you. Seems the SMO has always been offering this “opportunity”
Im not an economical expert but thats a pretty stupid move, isnt it??
And who takes the loss? The banks or the government?
It reveals the russki state sees financially distressed citizens as recruitable pool, therefor has an interest to set citizens under financial distress to enlarge the pool.
reminder: debt cancellation promises were also common in 1917 to legitimize the revolutionary ’cause’, it notably destabilized the financial system and set a cycle in motion that later tried to consolidate by shifting from ideology to a control mechanism to maintain a state under scarcity. In long term such could be abused to replace debt-based economy with a centralized non-market system, just like soviets did.
But here it most likely represents a form of stress adaptation to react to shortage of labour and money, which in itself correlates to tighter civilian economic conditions, so it manifests war time expectation rather than a rapid conflict end.
Wow, the banks are really gonna love that.
🖕🏻🇷🇺👎🏻
This fucking dumbass really looked at how the 2008 Financial Crisis unfolded and thought it was a good idea to try and replicate that. I swear Putin has to be the most braindead, incompetent, and pathetic leader on earth and that’s a high bar to clear.