"He has suffered a serious mental breakdown in the past when he saw his meagre savings wiped out by the collapse of the rouble and the bankruptcy of his bank employer."
Interesting he says that.
In 1998 Russian banking system indeed collapsed due to default of scumbags in Govt, and then bank owners defaulted on investors money to rob them to make up for robbing of the Govt. One of those bankers moved to UK - his son recently bought and successfully proceeded to bankrupt TVR.
Before this collapse however our family took the view that things are going to go pearshaped and we withdrawn all our money from those banks and exchange them to hard currency - I certainly don't trust Russian banks ever since and certainly not Russian Govt.
But the point here is that we used our brains to forsee something other people did not want even to consider - at the time everyone thought things were going well even though macroeconomic indicators clearly were showing that it will hit the fan shortly. Same as now.
Interesting he says that.
In 1998 Russian banking system indeed collapsed due to default of scumbags in Govt, and then bank owners defaulted on investors money to rob them to make up for robbing of the Govt. One of those bankers moved to UK - his son recently bought and successfully proceeded to bankrupt TVR.
Before this collapse however our family took the view that things are going to go pearshaped and we withdrawn all our money from those banks and exchange them to hard currency - I certainly don't trust Russian banks ever since and certainly not Russian Govt.
But the point here is that we used our brains to forsee something other people did not want even to consider - at the time everyone thought things were going well even though macroeconomic indicators clearly were showing that it will hit the fan shortly. Same as now.
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