Russians stuff $80 billion dollars under mattresses

ChrisD(RJ) chrisd at russiajournal.com
Sat Aug 10 04:05:29 PDT 2002


Michael perelman:

Is this number realistic???

On Wed, Aug 07, 2002 at 04:25:30PM +0400, ChrisD(RJ) wrote:
> Russians stuff 80 billion dollars under mattresses: watchdog
> By Dmitry Zaks

Chris Doss The Russia Journal ------------------ Me:

Probably. It's huge. This isn't just stuff "stuffed under mattresses," it's any money saved in cash and not in bank accounts. Nobody in Russia outside of big business uses banks; they don't trust 'em. Which makes it hard to get loans, which is a real problem for the economy. I don't have any money in the bank, it's all at home.

The joke after the 1998 crisis was:

Man walks into a bank and asks the teller who he should speak with to open an account.

Teller answers: "You should see a psychiatrist."

Chris Doss The Russia Journal



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