Ten years ago, august 1998, I was in Moscow when the The Ruble Crisis hit the markets. It was impossible to withdraw money (rubles or dollars) from the glitzy new banks. The exchange rate went from 6 rubles per dollar (as or our arrival at Sheremetevo airport) to about 25 rubles per dollar one week later.
Empty stores, but this time round packed with western multinationals’ goods. The Garnier shampoos. The Ferrero ubiquitous chocolates. The Procter detergents. That was a strange feeling after those queues for food in the stores of the 80s, with their empty shelves, that as a child I used to see in neighbouring Yugoslavia.
Talking about ruble crisis, this time it is not a lira, a euro or a dollar crisis. It’s just a plain “money” crisis. This morning I went to open an additional bank account (er…to diversify exposure) and I realized I had still in my bag Zygmunt Bauman’s book “Liquid society”.
Odd feeling…maybe The Liquid Society is very illiquid in the end?!
Maybe also during Weimar Republic the society was liquid…let’s go back to the 1923 events thanks to Arto’s excerpt of “Paper Money”. There are disturbing parallels with the present social and economic situation…especially populistic leaders promising protection and revenge…

