In the five-story building of Century Investment in Moscow, the computers of the investment department were all turned on, and Chen Min and Yelena watched closely the trend of the Russian stock market. Pen, fun, and www.biquge.info

"After more than a year of financial crisis, the stock market index has fallen to 75 points, which is too exaggerated!" Chen Min looked at the declining stock market time-sharing trend, and finally couldn't help but speak.

"In the newspapers this morning, 968 of the 1,500 banks have failed, and it is good that the stock market can keep trading, the bond market has been urgently suspended for a week, and the exchange rate of the new ruble against the dollar has fallen to the level of 10:1." The Russian girl Elena handed over a newspaper, and her pretty face showed emotion.

"Remember that in August, the exchange rate of the new ruble against the US dollar was still stable at around 7:1, and it was no longer able to support it in just two months?" Chen Min has been in Russia for nearly a year, and he has a certain understanding of the economic situation here.

"Russia is now a very large amount of foreign exchange outflows every day, from the beginning of the year to the present, the decline in international crude oil prices, resulting in a sharp deterioration of the financial situation, in order to make up for the fiscal deficit, the scale of the country's bond issuance has swelled sharply, resulting in the stock market and bond market triggered a round of decline, struggling to support a year, or not!" Elena shook her head, a look of dismay.

"Before I came here, I read the research reports of the holding company and Tatfook Bank, and most of them thought that the turmoil of the financial crisis in Russia could be eased by the end of 98, but now the situation is somewhat unexpected." Because of Zheng Fan's absence, Chen Min was a little undecided.

"The current situation is that the risks in the financial sector are spreading to the political sphere, and I heard that many seats in the State Duma have begun to impeach the president, and the current president is likely to be removed from office, and the whole country will be completely bankrupt because of the debt crisis." Elena said with a deep breath.

"When the boss went to the North Korea before, although people brought news that the Russian financial crisis might be unexpectedly serious and would radiate to the political field, the current situation is completely out of control in the crisis!" Chen Min took a sip of water and walked towards the window.

"It seems incredible to you, but it is true that Russia has not yet fully established an effective political system, and even without the financial crisis, there is a constant struggle between the president and the parliament, there is almost no agreement on any political issue, and there are serious differences in the views of the majority and dominant parties in the parliament with the reform-minded members of the president!" Compared with Chen Min, Yelena has a much better understanding of the political situation in her country.

"In the past two days, the number of demonstrators on the street has begun to increase again, and I know that in October 93, there was an incident of the Russian president shelling the parliament, but I didn't expect that so long has passed, and the political problems here have not been resolved!" Chen Min looked out the window, trying to calm down.

"The struggle between the parliament and the president has never stopped at all, and the president often threatens each other with the president dissolving the parliament or the parliament wanting to impeach the president, which has led to frequent changes in the Russian government and extremely fierce political struggles, so that Russia's economy and finance are basically running in a state of anarchy!" Elena looked like she had lost confidence in her country.

"Is it precisely because of this disorderly result that the Russian financial sector is extremely chaotic, causing the inevitable emergence of a financial crisis?" Chen Min said the crux of the matter.

"Starting from Japan in 97, and then to Southeast Asia, and even Hong Kong and South Korea, Russia's economy can be said to have suffered wave after wave of shocks, and has gone through several stages of collapse, and now 98 years are about to pass, but the situation has not improved at all, but has worsened more and more, this is already the second winter!" Elena lit a lady cigarette and took a deep breath.

"The winter in Russia is very cold, and in the case of the shortage of materials and daily necessities, it is estimated that there are a lot of people who can't eat, and every morning they come together, and I don't know how many frozen corpses are waiting to be cleaned up on the street, and this situation is hard to imagine how long it will last, do you think it is more likely that the president will step down, or will the Duma parliament end up being dissolved?" Chen Min's words had calmed down.

"It's all the same, whether the president is dismissed, or the parliament is dissolved, it is the time of the country's economic and political collapse, and it is estimated that the chaos is still to come, unlike other countries, Russia is not a centralized management, especially in a state of chaos, and now the people with power are doing their own thing, I don't know how many feudal officials have been divided, and even if the presidential decree is issued, it will not get the response of all parties." Elena didn't expect much.

"Although military power has been divided into interests, it is not as serious as you said, at least on the surface, there has been no war." Chen Min persuaded the girl.

"The masses can't even eat, and those in power have also realized the complete bankruptcy of the country's credit, and have become only recognizable to foreign exchange, as if they are afraid that after the complete collapse of the country, they will not be able to eat and drink, and they will not hesitate to sell everything for their personal interests. Elena smoked a cigarette and sneered.

"In the last days, people will be relatively selfish, and in the case that it is difficult to guarantee in the future, it is normal to grasp some interests in their hands, which is relatively affordable." Chen Min saw it.

"I don't know if it's artificially promoted, I think the destructive power of the Russian financial crisis is indeed too great, and international speculators are no longer the main players." As Yelena spoke, trading on the Russian stock market on her computer had been halted by the crash.

"Now, perhaps it is really no longer the time for international speculators to play the leading role, and their real strength should be in the period from June to October, constantly shorting the exchange rate of the new ruble against the dollar, shorting the stock market and bond market, giving the Russian economy a fatal blow." Chen Min pondered his words and said.

"Yesterday through a meeting with the chairman of the upper house, Matviko, I learned that the Duma parliament may elect Chernomyrdin as the new president." Yelena passed important news to Chen Min.

"As early as 92 to March this year, Cherno has been serving as the country's prime minister, focusing on economic work, and finally was ordered by the president to dissolve the prime minister's government. Chen Minzhi feels that Russia is in turmoil.

"The key point is that the new Prime Minister Kiriyenko, who came to power in March this year, did not get the new government's fiscal and financial measures to pass, but instead caused a more serious financial crisis. Elena clearly has a lot of views on the current prime minister's government.

"Some time ago, I had some contact with the newly appointed Prime Minister Kiriyenko, and the outside world said that he was young and unqualified, lacked the support of consortiums and political parties, and had experience in governing the country, and people's lack of confidence in the new government, which led to the withdrawal of many investors, but I think that he is a person with ideas, and he can only be regarded as a person with ideas, and he came to power too hastily, and the environment has deteriorated to the point of no return, making it difficult for him to do anything." Chen Min smiled and expressed his opinion.

"I used unofficial data to calculate before, since the beginning of the financial crisis in Russia, the withdrawal of funds has even exceeded 70 billion US dollars, which is still the statistics of leaving the exit of international travel funds, and now Russia is estimated to be completely hollowed out from the inside out!" After not expecting the country, Yelena felt a little lucky.

"Since the collapse of the Soviet Union, Russia has been taking shock therapy, but this kind of currency war failed recuperation, there has always been a fiscal deficit, when a serious financial and debt crisis, suddenly exposed to the world, will certainly cause psychological panic among investors, to the present, a considerable amount of debt, is still irreparable, the situation is indeed very not optimistic." Chen Min's eyes narrowed slightly.

"The fiscal deficit every year is not small, and the fundamental reason is that the government has adopted the result of issuing treasury bonds, borrowing foreign debts, and delaying payment, coupled with the repayment of debt interest, it will snowball, rolling the debt bigger and bigger, and this year a large amount of debt is due one after another, arrears need to be repaid, and the new government has to undertake the task of repaying debts, so it has no choice but to announce the serious situation of the financial debt crisis, and it is now the end of the year, and it is estimated that a default on foreign debts is inevitable, as Russia's largest creditor country, I heard that the German stock market has fallen for several days." Elena was constantly thinking about the various connections.

"In recent years, Russia's output value has been declining, the fiscal revenue base is getting smaller and smaller, coupled with too many taxes, the tax rate is too high, resulting in excessive corporate taxation, so tax evasion is very common, almost half of the units have tax theft, tax evasion, the amount of arrears of wages is also increasing, up to now, Russia's domestic debt has exceeded 100 billion US dollars, the scale of foreign debt, has reached 210 billion US dollars, this hole for the weak and difficult to reverse Russia, is really not small, if not relieved by external forces, Debt is only going to roll in. Chen Min thought of Zheng Fan's thinking and wanted to find the key nodes as much as possible.

"In order to support the operation of economic and social life, we have to borrow a large number of new debts to repay old debts, and we have to borrow more new debts, so that a debt pyramid is formed, and when the credit completely collapses, it is estimated that the government is really powerless to do anything, and now the international oil prices have fallen sharply, so that Russia, on which crude oil exports depend, has lost a large part of the country's income again, before contacting the finance minister, he said that now these gradually maturing debts have to account for 86% of state expenditures, this piece of expenditure, It has been greatly exceeded by the state. Elena told Chen Min the truth.

(The first update will be delivered.) ）