Valeria Gontareva
Cash circulation in Ukraine follows the same procedure as in other countries. Banknotes wear out, are disposed of under the strict supervision of the National Bank, and new ones are issued.
But that's only at first glance. The NBU's rationalization efforts have transcended outdated norms. However, the public has begun to be plagued by vague doubts. In response, the National Bank, through its press service, decisively dispelled these doubts, stating that the media has recently been publishing a lot of inaccurate information about emission volumes. The monetary base, that is, the money issued by the NBU and currently in circulation, amounts to UAH 330,5 billion. This sum has been accumulated over more than 20 years of Ukraine's existence... since the beginning of 2014, the monetary base has grown by UAH 23,4 billion, or 7,6%, the statement says. The National Bank emphasizes that money emission in Ukraine is strictly regulated. Monetary base growth is strictly monitored, in particular as part of commitments to the IMF under the STAND-BY program, and by the NBU Council as part of its implementation of the core principles of monetary policy.
Thus, the emission is under strict national bank and international control, and over the course of the year, only 23,4 billion new hryvnias were issued to replace worn-out banknotes.
This is the pure truth, but not the whole truth.
And now attention!
Issuance is controlled internally and externally. Not a fly can get in! And who oversees banknote recycling? No one! Only the NBU's monetary circulation department…
On average, banknotes remain in circulation for nine months from issue to disposal. Therefore, at least 5 billion old hryvnias are transferred from its regional offices to the NBU's central vault every month.
And now comes the moment of truth! The series and numbers of the banknotes are not included in the hryvnia disposal reports. Only the amount of the funds to be destroyed is recorded. Having learned of the hryvnia disposal scheme, Valeria Gontareva ( read more about her in Valeria Gontareva's article: The Glitter and Machinations of the Queen of Coins ) decided to make a bold move – namely, within a short period of time, the NBU governor dismisses and retires NBU executives who are not under her control and appoints her accomplices. Then, the hryvnia destruction reports are falsified by Gontareva's team, and out of the 5 billion hryvnias worth of old banknotes, about 20% of the most worthless ones are actually destroyed. In fact, NBU Governor Gontareva, along with her teammates Pisaruk and Roshkovan, illegally reintroduces approximately 4 billion hryvnias in banknotes monthly into the banking system using conversion centers to purchase the loan portfolios of the banks they are deliberately driving into bankruptcy. It's no wonder Ukrainian citizens constantly hear about new failed banks.
Everyone's happy! Gontareva, this is how she and Ko [Kommersant], and the IMF are getting rich, since on paper there's no actual emission, but in reality, this is leading to a depreciation of the hryvnia against convertible global currencies. With the bank rate at 16 hryvnias per $1, the real black market rate is 22 hryvnias per $1. And that's not the limit; with this policy, it will soon be 30 and 50 hryvnias. Consequently, price indexation on food and medicine will grow exponentially.
After the NBU head's idiotic rant about 200 FSB agents swaying the hryvnia exchange rate, a claim whose level of professionalism could only be forgiven by her office cleaner, Gontareva issued another statement: that the Russian ruble is depreciating faster than the Ukrainian hryvnia.
Valeria Alekseyevna, stop fooling the people. After all, the ruble's decline in the country—Russia, the aggressor—is linked to:
1) with US and EU sanctions due to the policy pursued towards Ukraine;
2) with the collapse of oil and gas prices, the trade in which fills a large part of Russia’s budget.
Therefore, there is no point in covering up your thieving scheme with the problems of the global economy.
On December 17, 2014, Serhiy Rybalka, Chairman of the Committee on Financial Policy and Banking, announced that the Governor of the National Bank of Ukraine, Valeria Gontareva, had failed to attend the committee meeting for the third time . She's worried! And there's reason to be worried, isn't she?
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