Russian economy is an 'illusion' built on debt, and a banking crisis will explode, intel report says - Fortune
Russian economy is an 'illusion' built on debt, and a banking crisis will explode, intel report says - Fortune
Source: Fortune
―
DW NOTE
Russia is financing a war economy the same way dying states always do — by forcing banks to buy government debt at negative real rates. When the banks finally admit those bonds are worthless, the choice becomes hyperinflation or mass bank failures. Neither outcome is an illusion.