Alexander Losev: "The main beneficiaries of the pandemic are financiers"

This is an excerpt from the speech of the IMF Resident Representative in Russia Annette Kyobe during the Fitch Ratings webinar "Russia - Macroeconomic Forecast 2021".

On the air on the Tsargrad TV channel, Alexander Losev, a member of the Presidium of the Council on Foreign and Defense Policy, explained why our country continues to cooperate with discredited organizations and why the IMF wants to vaccinate all of Russia:

“The IMF and the World Bank are two organizations that have introduced such a concept as the Washington Consensus.

Adherence to this Washington Consensus is written for all developing countries.

First of all, this is a limitation of state sovereignty, less support for business, more - the market, invisible hands of the market, there are many of them, and some requirements for budgets and budgetary policy.

All countries that followed the Washington Consensus ended up poorly, with crises.

The second point is why the IMF says it.

At the end of August, the Bank of Russia received $ 18 billion from the IMF in the form of special drawing rights, that is, it received money. I'm not hinting at anything, I'm just stating: was the money accepted? Accepted.

These are the institutes of world governance created by the United States. And now the activity of these institutions is an attempt by the United States to preserve its hegemony, to preserve its power over the world.

They are tools. Behind them are the States and their establishment, those who manage capital, world politics - or think they do.

And what about the WTO, which hinders our development?

We understand that if the world becomes multipolar, if the world is now really breaking up into macroregions and each of them has to decide how to survive in the future, how to develop, then, of course, it is necessary to revise all these institutions created for completely different purposes - in order to in order to make globalization, in order to manage the processes of globalization and so that the beneficiary, that is, the beneficiary of this, the United States, receives the maximum profit.

The main beneficiaries of the pandemic are, of course, financiers . Because all the money that governments and central banks sent to help the economy, they basically all went through the banking system. The American banking system is $ 90 trillion in assets. All the money that the government allocated went there too.

The estimate is how much money was allocated and how much got into the banking system, from 24 to 27 trillion dollars. Equivalent. In different countries, including developing countries.

This is the first beneficiary. And watch how they inflated the stock market, how they inflated lending. Inflated debts. For banks, debts are assets, for others, debts are problems.

$ 27 trillion was poured into the global economy. It never happened.

This shows the scale of the pandemic: how much everyone else lost, if so much was poured in so that the world economy would at least show zero growth over the past year, get out of the recession.

Further, digital giants became beneficiaries. Their share in the global economy grew by 23% in the same year. By what means? Due to the fact that the rest of the economy fell by the same amount.

The data that I saw this year from our American colleagues shows that such companies as Google, Microsoft, Amazon earn 2.5 million dollars every minute since the beginning of this year, their daily profit exceeds 1 billion dollars.

Everyone was removed to a distance, to a remote location, digital services, delivery, serials became in demand - after all, people need to be entertained with something, Netflix and Google immediately rose, which has Youtube. They got the maximum profit

And finally, the profit is smaller, but there is more noise - big pharma, the so-called pharmaceutical companies, which have a turnover of $ 1 trillion 200 billion a year. They also showed an increase of more than 10%.

... Let's objectively answer the question: did someone answer for the optimization of Russian medicine, which was completed exactly at the end of 2019, when all infectious diseases hospitals were closed? Nobody answered.

Who was responsible for all these lockdowns? Nobody answered.

When the "delta" strain appeared in India and then it appeared in England - was someone responsible for not closing air links with India and London? Nobody answered.

And when we were all in quarantine and opened Turkey and tourists from there began to import coronavirus - was anyone responsible for that? No.

Accordingly, while we will answer “no” to such simple questions, we cannot answer “yes” to the main question (about whether the mind will win in the current situation - note “NO”), that something will change.

The entire broadcast with the participation of Alexander Losev can be viewed here .