A Russian economics expert had been making money through long-short strategies during the Russia-Ukraine war. Despite his economic success, he felt deep regret about Russia's historical mistakes. He wrote on his blog that "Russia has been on the wrong path since the 19th century," critically analyzing Russia's history. Then, remarkably, he traveled back in time to 1891 and found himself in the body of Russian Crown Prince Nicholas II during his visit to Japan.
Nicolson, who had remained as ambassador to Russia since the Anglo-Russian agreement.
There were clear reasons why he was convinced that "Russia fears economic damage more than war casualties!"
First, the Russian Empire hasn't increased taxes since the war began.
Looking at Britain alone, they raised income tax from 6% to 18% in just one year. The number of taxpayers also increased from 1.13 million to 2 million.
Meanwhile Russia? While using monopolistic enterprises like public companies in the rationing economy, they refuse to increase individual taxation at all costs.
That's not all. The Russian government even tries to counter inflation tax - that economic law of nature where all currency-using citizens bear the burden proportional to the bundles of money they hold.
It's common sense that printing money during wartime leads to inflation.