Below are two pictures.

One of them is the result of the printing press, presented in the form of the growth rate of the narrow monetary base of the Central Bank.

The second picture is the rate of inflation growth over a 23-year period.

One line is the annual growth rate, and the second line is the average growth rate for the period.

Everyone wants simplicity.

This is not always good, but sometimes acceptable.

Let me give you the simplest example of Sber share estimation.

First we need to know the value of money.

To do this, we look at the interest rate on government bonds.

The price of long-term bonds is about 10,5%, and this is the real value of money.

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