Yakov Mirkin: 13 fiery recipes of how to get rid of the dollar in 100 days

The well-known Russian economist Yakov Mirkin wittily responded in his blog to the persistent rumors about the next in turn denomination of the Russian ruble:

“Even an innocent denomination caused a public shiver. Different freaks have been wandering in the Russian forests for a long time, and their hands itch to do something with our rubles or dollars.

It’s just in order to know what they usually do when a country has a crisis and capital outflow.

Not now, not today. To keep track of your rainy day fund of currency.

So, here are 13 fiery recipes of how to get rid of the dollar in 100 days.

Evaporation

1) Limits on the issuance of cash currency in one hand for one day / week / month.

2) Prohibitions on transfer abroad more than a certain amount.

3) Tax (fee) on the purchase of foreign currency. Bought at the rate, pay another 1% of the purchase amount.

4) Tax (levy) on the sale of currency. Sold at the rate, pay another 0.5% of the amount sold. Or a fee / fee for making foreign currency payments (hotels, tickets, goods in online stores)

5) "Repressive" purchase rate - selling currency. Say the CBR’s market rate is 54 rubles, and you can only sell dollars at the rate of 40 to the bank. Or buy dollars from the bank only at 65. The system of special rates is much worse than market

Soaking

6) All kinds of references, explanations, justifications, why you buy currency, why you translate it, why you live with currency in your hands!

Confirmation that the operation is not fictitious. Scary pieces of paper.

7) Partial bans on foreign currency deposits, foreign currency accounts, foreign currency loans, brokerage accounts (for amounts, terms, reasons).

Why do you need three currency accounts, and all in different currencies?

So people do not live.

8) "It is impossible" to issue foreign currency payment cards.

Four cards? Not supposed to. By the rules - only one.

Scraping

9) Strict restrictions on the export of cash currency. Not $ 10,000, as it is now, but, say, $ 1,000. “Tiny” limits on cash withdrawals at ATMs using cards abroad, on payments with cards in stores, etc. abroad. Customs declaration of even small amounts.

10) A direct ban on the storage of cash currency (or in excess of a certain amount). Currency - for settlements, not for savings.

To hand over all currency surpluses within seven business days (perhaps at a forced exchange rate). Currency purchase - only within the limits of need (limits when traveling abroad)

Squeezing

11) A ban on transactions of “individuals” with assets denominated in foreign currencies (dollar futures, for example, or Eurobonds, shares denominated in foreign currencies).

12) The ban on “non-cash purchase” to individuals - the sale of foreign currency, the conversion of money into foreign currency on ruble accounts and vice versa.

13) Prohibit the circulation of any one ("enemy", malicious) currency, and leave the rest..."