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The situation in Russia is even grimmer.

- The doubling of the money supply is actually taking place in the context of a stagnant economy. ALL the economic growth that Russia reports is basically for arms that are being blown up and burned through in Ukraine.

- Increased money supply only reflects a fraction of this. Russia has used banks to give bad, under-secured loans keeping Russian businesses afloat.

- The Welfare Fund is worse than reported. Most of it can't be spent w/o angering China.