Due to the Ukraine problem, Russia has been heavily affected by the economic sanctions of Western countries and has been spending a long time. Recently, our country’s foreign exchange reserves are at risk and the US dollar is rising, which is related to this. Due to the geopolitical situation and economic issues, Dr. Talked to T. Bayarkhu. – ACTUALLY, 10-15 PERCENT OF FOREIGN TRADE IS USED IN US DOLLARS- – It is said that the Russians exchange US dollars here and carry them across the border in cash. Officials explain that demand for US dollars has increased due to increased imports. It is interesting how you see the main reasons for the decrease in foreign currency reserves and the way out. -Mongolia has a wrong economic structure, it is not a manufacturing country, it only exports a few mining products. During the coronavirus years, demand for the currency was low as imports plummeted. Now that the border has opened a little and people go to Turkey and Thailand, won’t the outflow of foreign currency increase? There are also cases where the Russians exchange small amounts of US dollars and take them away. There are reasons like this. But not exactly the root. Basically, the technology implemented in our country by the owners of dollars. They print their own dollars backed by our country’s natural resources, livestock, land, taxes paid by citizens, and real estate. We lend it at 5-10 percent interest. Yet they exchange it for bonds with an interest rate of less than 1 percent. In other words, I borrow dollars from owners of dollars at 10 percent interest, and in return buy their bonds at less than 1 percent interest. It means that it is our foreign currency reserve. Secondly, Mongolians do not have the right to use the so-called foreign currency reserves themselves. Our foreign currency reserves are mainly held in the accounts of the holders of dollars in the “Federal Reserve” or the Federal Reserve Fund. We know that the currency that we don’t use and has nothing to do with us is because there are no US dollars available now, and commercial banks have started limiting their transactions. It means that the financial tricks that have been implemented since 1990, through the two-tiered structure of the Mongolian Bank and commercial banks, which depreciate the MNT and lead to debt, are being forced out. In this event, let’s imagine that foreign exchange will be gained by increasing imports and decreasing exports, as explained by the Mongolian Bank. However, in the last two years, our foreign trade balance increased. In other words, exports exceeded imports. So, why did the US dollar not fall at this time? So there is no false interpretation. There is no one thinking in the Mongolian Bank and the Ministry of Finance. Only people who have attended the famous “courses” of the owners of the dollar such as Harvard, Columbia, and Princeton, who have become preachers and implementers of neoliberal theory, work. -Mongolbank presents its proposal to increase the customs duty on some luxury goods, did you just hear that on the way here? – Then it will be fine. In general, let’s explain it like this. According to the latest news, our country has foreign currency reserves of 3.5 billion US dollars. Why is there a shortage and the price is rising? After this resource is used up, the exchange rate will increase and it will become scarce. So, this crisis will never end unless the central bank is taken over by the government like Hungary, Malaysia and Singapore. – It has been almost a month since the major Russian banks were removed from the SWIFT system due to the Ukraine problem. The United States also froze the US dollar reserves of the Central Bank of Russia. I wonder how they have been able to survive for so long after the US dollar transaction has stalled in this situation. – We need to see this situation as a historical opportunity and use it skillfully. To be precise, only 10-15 percent of our foreign trade is using pure US dollars.
Due to the Ukraine problem, Russia has been heavily affected by the economic sanctions of Western countries and has been spending a long time. Recently, our country’s foreign exchange reserves are at risk and the US dollar is rising, which is related to this. Due to the geopolitical situation and economic issues, Dr. Talked to T. Bayarkhu. – ACTUALLY, 10-15 PERCENT OF FOREIGN TRADE IS USED IN US DOLLARS- – It is said that the Russians exchange US dollars here and carry them across the border in cash. Officials explain that demand for US dollars has increased due to increased imports. It is interesting how you see the main reasons for the decrease in foreign currency reserves and the way out. -Mongolia has a wrong economic structure, it is not a manufacturing country, it only exports a few mining products. During the coronavirus years, demand for the currency was low as imports plummeted. Now that the border has opened a little and people go to Turkey and Thailand, won’t the outflow of foreign currency increase? There are also cases where the Russians exchange small amounts of US dollars and take them away. There are reasons like this. But not exactly the root. Basically, the technology implemented in our country by the owners of dollars. They print their own dollars backed by our country’s natural resources, livestock, land, taxes paid by citizens, and real estate. We lend it at 5-10 percent interest. Yet they exchange it for bonds with an interest rate of less than 1 percent. In other words, I borrow dollars from owners of dollars at 10 percent interest, and in return buy their bonds at less than 1 percent interest. It means that it is our foreign currency reserve. Secondly, Mongolians do not have the right to use the so-called foreign currency reserves themselves. Our foreign currency reserves are mainly held in the accounts of the holders of dollars in the “Federal Reserve” or the Federal Reserve Fund. We know that the currency that we don’t use and has nothing to do with us is because there are no US dollars available now, and commercial banks have started limiting their transactions. It means that the financial tricks that have been implemented since 1990, through the two-tiered structure of the Mongolian Bank and commercial banks, which depreciate the MNT and lead to debt, are being forced out. In this event, let’s imagine that foreign exchange will be gained by increasing imports and decreasing exports, as explained by the Mongolian Bank. However, in the last two years, our foreign trade balance increased. In other words, exports exceeded imports. So, why did the US dollar not fall at this time? So there is no false interpretation. There is no one thinking in the Mongolian Bank and the Ministry of Finance. Only people who have attended the famous “courses” of the owners of the dollar such as Harvard, Columbia, and Princeton, who have become preachers and implementers of neoliberal theory, work. -Mongolbank presents its proposal to increase the customs duty on some luxury goods, did you just hear that on the way here? – Then it will be fine. In general, let’s explain it like this. According to the latest news, our country has foreign currency reserves of 3.5 billion US dollars. Why is there a shortage and the price is rising? After this resource is used up, the exchange rate will increase and it will become scarce. So, this crisis will never end unless the central bank is taken over by the government like Hungary, Malaysia and Singapore. – It has been almost a month since the major Russian banks were removed from the SWIFT system due to the Ukraine problem. The United States also froze the US dollar reserves of the Central Bank of Russia. I wonder how they have been able to survive for so long after the US dollar transaction has stalled in this situation. – We need to see this situation as a historical opportunity and use it skillfully. To be precise, only 10-15 percent of our foreign trade is using pure US dollars.Try saying, “The interest rate is high,” and they say, “Mongolbank knows.” So what do we have to do with L. Oyun-Erden. Parliament is the same, knows nothing, has no rights. So what did we choose them for? So, the legal entity that exercises all these powers is elected, and he leads the ruling party in the parliament. If you can’t do your job, the people should dismiss you before the deadline and directly elect the next person. – The news that innocent people are being killed in Ukraine is hurting people. However, the Russian side reports that they are not targeting urban areas, but military bases. Right now, the supporters of the Russian side are seen as brutal and non-peaceful? – This is a pure information war. Western BBC and CNN agencies and Ukrainians themselves are spreading the information that the Russians are killing and massacring Ukrainians as soon as they come in. Let’s see, in 2014 there was a color revolution in Ukraine, a coup d’état. With that revolution, a toy government was established in Ukraine to topple V. Putin. It was revealed that the members of the government were appointed directly from the United States. And for the war with Russia, the army was prepared for eight years. On top of that, most of the people fighting on the side of Ukraine are mercenaries from the background. There have been many cases of people reporting that “the Russians have shot” after shooting themselves. Remember the past history. What happened to Libya, Egypt and Syria? What happened to Iraq, what happened to Yugoslavia. Did Russia make a war there? Are there people like Ts. Elbegdorj supporting the side that starts the war themselves, incites the people, pretends to be god and gets away innocently? However, the truth is winning. The United States is not a happy and good democracy. Just like a giant private company. Citizens earn a maximum of 10,000 US dollars and spend it on housing, car loans, and food. Even if there is no economic crisis, the salary received is not enough to improve the standard of living. New York looks beautiful, but many Americans are homeless, jobless, and living on card goods.-THE YOUNG GENERATION IS TOO SAINT-With the three government seats belonging to one party, political decisions are made smoothly and major projects are moving forward. However, the more academic people are still shying away from the fact that it does not seem like a democracy to the public, and that a one-party dictatorship has been established. At such a time, isn’t it almost impossible to make the changes you’re talking about?-With such a fundamentally perverse system, it doesn’t matter whether the three parties are one party or three different parties. We have been in one party, we have been in two parties, right? Now, the person who is competing for the chairmanship of the Democratic People’s Party is telling lies like saying, “The three heights of the state belong to the same party, I will come out and take one, and then it will be fair.” Can’t do that, right? How many years do you want to play with the people and the suffering of others? To look at the other side, it has become a pile of debt. You know, the owner of a company that went bankrupt due to the fraud of the owners of the dollar and was stuck in debt, pretends to be a patriot and goes into politics to make the people pay the debt. It’s going down like that. What will the will of three million people do? Looking at U. Khurelsukh’s career, it seems that Mongolians are a country that is united by looking at one person. You know, this current system has no owner. Come out and steal and leave. He will not go to jail during his four years as a member of parliament. They say that they will be punished only if caught on the spot. Even if it is built on the ground, it will collapse. Also? Don’t talk to people like that. Abolish the money-printing system and get the right to print money. If he can’t do it, he’s fired, Bayarkhük will be elected. If you work well, if you can’t, you will be fired and you will be elected. Is it democracy?-True democracy is this. Democracy does not mean direct election by the people. The people want to directly elect the person who prints the money. You want to choose the person who determines your monetary policy, don’t you? If it doesn’t work, let’s resign and let’s have another election. This is democracy. There is also an opposition in the parliament. They will review and debate the work of their rulers. In the presidential election, the young people were in opposition to U. Khurelsukh. Rather than being influenced by western propaganda, it seems that the basic ideals are formed like this, the new generation?-Young people are responsible for building their own lives. Only, I can’t bear the problems of my generation on my back. I have been speaking for many years to correct the evils done by my generation and to warn. It is necessary to elect and establish the government by themselves, like a government that holds all the powers.
