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[ZEROHEDGE] Russian Trade Minister Celebrates Collapsing Ruble As “Awesome”

Zero Hedge

Russian Trade Minister Celebrates Collapsing Ruble As “Awesome”

Tyler Durden

Sat, 10/17/2020 – 18:10

Over the past decade, western central banks have generated countless hours of derision, mocking and scorn because while it has become painfully obvious that their two primary objectives – pushing stocks higher and hammering the currency – have nothing to do with their stated objectives of full employment at stable prices, central bankers have been steadfastly stubborn in their baseless claims that what they do is for the greater good. So much so, that the very same Fed whose catastrophic monetary policies of the past decade have spawned the greatest wealth and class inequality in US history in their pursuit of weaker currencies and higher asset prices, are now actively pretending they are pursuing an end to racial inequality, which is nothing but pure propaganda to justify printing even more money until maybe one day, inequality somehow magically ends.

But there is one place where officials are not hypocritical about their true motives and desired outcomes: Russia, where the government minister in charge of getting companies to keep production at home thinks the ruble’s recent 20% plunge against the dollar is simply “awesome.”

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