by Daily Bell Staff
The Daily Bell
Social Media Blitz Has Russians Asking: What’s a Central Bank? … Bank of Russia expanding its reach by turning to social media Inflation expectations remain high despite slower price growth … Here’s what Governor Elvira Nabiullina’s latest quest to uproot high inflation expectations is up against: most Russians don’t know what a central bank is, and the price growth many of them actually face is at least double what the statisticians are reporting. – Bloomberg
This Bloomberg article describes how the Russian central bank is using “social media” to explain central bank manipulations and then gives us a rundown on what other central banks are doing.
Finally, some eight years after the start of this latest global, quasi depression, central banks are beginning to fight back against their negative perceptions.
Of course, the negativity is well-deserved. Central banks ruin economies through monetary debasement and are constructed to do so.