@StefLaw

(3/n)

"...the lives of 👉3 million #Russians 👈 who would otherwise be alive today."(2)

After that, #Boris #Yeltsin's economic #ShockTherapy, masterminded by economists Yegor #Gaidar and Anatoly #Chubais, it is my hypothesis that it not only "...created #Russian #oligarchs and paved the path for #Putin."(3)

It also made #kleptocracy the cornerstone of the post-#Soviet political system in #Russia.

It must have also provided a...

(3)
https://www.npr.org/sections/money/2022/03/22/1087654279/how-shock-therapy-created-russian-oligarchs-and-paved-the-path-for-putin

@Jeramee @[email protected] @RadicalGraffiti

(11/13)

"...who would get what and for roughly how much...

#Chubais was willing to hand over the property without competition, without openness, and, as it turned out, for a bargain price, but in a way that would keep the businessmen at #Yeltsin's side in the 1996 #reelection campaign...Fueled by the immense power of the #oligarchs, #Yeltsin conducted #Russia's first American-style presidential campaign...

As #Yeltsin's..."

@Jeramee @[email protected] @RadicalGraffiti

(10/13)

"..about to slide back into communism, #Chubais and the #Yeltsin administration turned to a shady scheme known as "Loans For Shares." ...
When the government #defaulted on paying back the loans, as the schemers expected they would, the oligarchs would walk away with the keys to #Russia's most profitable corporations...

The auctions were a complete *farce*. #Chubais and his team had predetermined with the #oligarchs..."

@Jeramee @[email protected] @RadicalGraffiti

(6/n)

"...the first big shock to the #Russian economy when he lifted price controls in December 1991. As the Soviet economy collapsed, however, the policy ended up unleashing "hyperinflation..devestated ordinary #Russians."

"Meanwhile, #Chubais was tasked with overseeing mass #privatization...the former #SovietUnion was holding the world's largest garage sale and vouchers l...given to #Russian citizens...were the tickets to..."

@Jeramee @[email protected] @RadicalGraffiti

(2/n)

...know however, that their story is crucial to understanding the rise of #Putin."

The need to radically reform the economy was unavoidable. The reasons for this, however, were the #OctoberRevolution and the subsequent decades of an economic system that cannot work, #communism.

Russian President
"#Yeltsin turned to the #Russian economists Yegor #Gaidar and Anatoly #Chubais, who, with the aid of Western..."