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December 31, 2023 | The Ukrainian Financial Panic

Martin Armstrong

Martin Arthur Armstrong is current chairman and founder of Armstrong Economics. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

Time Men of Year Zelensky Hitler Stalin

I have warned that Zelensky will go down in history as the evil ruler he truly is. And for those who constantly want to pretend this is Russian propaganda, tell that to the 500,000 Ukrainian soldiers who are dead and all the broken homes Zelensky has left behind, along with the 8 to 10 million who have fled Ukraine. Worse still, he is making it a criminal act to flee the country and avoid his draft to justify the EU arresting Ukrainians and deporting them back to be sent to their death on the front lines.

The idea of ​​drafting another 500,000 Ukrainians to be sacrificed on this Neocon Altar for nothing more than a territorial grab of the Donbas is causing absolute panic sweeping the country. Zelensky’s penalties are to be introduced for those who refuse to comply. Ukraine’s financial system is on the brink of collapse. Our Ukrainian sources are reporting that there has been a run on ATMs in Ukraine. Apparently, Ukrainians have withdrawn about a billion dollars from their accounts in a single day! We are looking at a financial crisis unfolding in the Ukrainian banking and financial system thanks to Zelensky’s legislation intended to force conscription to raise another 500,000 people to be sent to the frontline. As part of this bill, Zelensky intends to isolate people who evade the draft by removing them from carrying out any financial transactions or selling property.

Ukraine ECM

ECM Ukraine 8.6 RAs a result of Zelensky’s proposed law, Ukrainians are in a state of panic. They have been plundering their accounts and are now hoarding cash and abandoning the banks. Our model warns that Ukraine will NEVER succeed in this war, and it may no longer even survive as a nation-state post-2026. Indeed, 2026 is showing up on both the ECM for Ukraine as well as on the ECM based entirely on the beginning of this proxy war against Russia. Zelensky’s new law also lowered the age and introduced three months of basic training for 18 to 25-year-olds.

  • The conscription age is to be lowered from 27 to 25 years;
  • The introduction of basic three-months-long military training for all Ukrainian citizens aged 18 to 25 in every educational establishment;
  • The introduction of optional military service for persons aged under 25 who were not able to complete basic military training;

It does not matter how many Ukrainians Zelensky throws into this meat grinder. Ukraine will NEVER prevail over Russia. The West knew this would be the outcome. They were simply using Ukraine to weaken Russia for the kill, which they hoped would be delivered by NATO. That is why they are now prodding the Baltic states to wage war with Russia to justify NATO troops to engage Russia head-on. Financial support is waning because they know Ukraine is just cannon fodder.

Zelensky ECM

Zelenskyy Johnson

Zelensky is becoming perhaps the most hated Ukrainian leader to date. I would not put it past a coup unfolding with his assassination that they would probably try to blame on Putin. Many in the government now see that this has never been about protecting the Ukrainian people. Even the local Ukrainian Press published a story about how Boris Johnson came from England to kill any peace deal. This has been nothing about just sacrificing Ukrainians to weaken Russia.

Ukraine Hryvnia M Array 12 31 23Russian Rubles M Array 12 31 23


When we compare the Ukrainian and Russian currencies, we can see that the critical climax of the Ukrainian financial crisis appears to be by March, which is the time of the Russian election. We may see this push to raise another 500,000 Ukrainians to be sent to the front lines as the driving force that coincides with the Russian election, whereas May 7th is the swearing-in date of the next term for the President of Russia.

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December 31st, 2023

Posted In: Armstrong Economics

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