Tuesday, September 10, 2019
Se-lu 34, Solvent Soviet edition
Pretty good article at RT, which sometimes takes the usual Western viewpoint on economics.
As of August 1, the state debt (at the federal, regional and municipal level) amounted to 16.2 trillion rubles (around $247.3 billion). At the same time liquid assets of federal government, regions and non-budget funds stood at 17.6 trillion (nearly $268.8 billion).Both of those numbers are small by Western standards. Total government debt of $250 billion? We crossed that line a century ago and never looked back. More importantly, the liquid assets are greater than the debt. Russia is SOLVENT by strict accounting standards. Reviewing the meaning of SOLVENT: = = = = = START REPRINT: SOLVENT. Seems like a completely inappropriate word for 'got money'. How did that happen? The etymology is beautiful. The original Latin solvere meant 'loosen, untie knots, split apart.' The chemical meaning of solvent is literal. The most common meaning is untying the knot of a problem. Latin solve = Greek analyze = determine where to cut the rope. Slightly less literal but still easy. Solvent as 'got money' was later and more metaphorical. Around 1600 when banks and currencies started to branch away from gold, solvent came to mean able to cut the ropes of debts, able to clean up obligations. Beautiful. It's not just having bucks, it's the economic form of gumption. It's active. See a debt, untie it and dissolve it before it chokes you. = = = = = END REPRINT. When you are able to untie all knots without obeying banks, you can solve your own problems. You can loosen sanctions and blockades by mobilizing your own skills and resources, because Goldman isn't holding you hostage. Putin is the supreme problem-solver. He had one initial head start: the Soviet system ran without significant debt and without the usual Western reliance on credit. The Soviet economy was strictly REAL VALUE. He inherited low debt plus a habit of avoiding debt, and he carried on the tradition.
Labels: Natural law = Soviet law, se-lu
¶ 5:59 AM
