The Fall of the Soviet Union: Why the Superpower Collapsed — Fexingo History

The Last Soviet Banker: How the State Bank Lost Control

10 min · 6 de jul de 2026
Portada del episodio The Last Soviet Banker: How the State Bank Lost Control

Descripción

In 1987, Mikhail Gorbachev allowed state enterprises to keep their own profits. It seemed sensible—until those enterprises started lending to each other outside the state plan. By 1991, the Soviet Union had over a thousand unregulated commercial banks, the ruble was hemorrhaging value, and the central bank was printing money to cover deficits it could no longer control. This episode follows Viktor Gerashchenko, the last chairman of the Soviet State Bank, as he tried to stem the tide of hyperinflation. We trace the rise of the first cooperative banks in 1988, the collapse of the ruble's purchasing power, and the final, desperate currency reforms of January 1991—the Pavlov reform—that emptied savings accounts overnight and shattered public trust. Along the way, we examine competing theories: did the economic collapse cause the political end, or did the political chaos make recovery impossible? This is Episode 141 of The Fall of the Soviet Union: Why the Superpower Collapsed. #SovietEconomy #Gosbank #ViktorGerashchenko #PavlovReform #Hyperinflation #Perestroika #Gorbachev #Ruble #CooperativeBanks #EconomicCollapse #StateBank #USSR #EasternEurope #1991 #Gosplan #MonetaryReform #History #FexingoHistory Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]

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169 episodios

Portada del episodio The Last Soviet Laws: How Crime Went Unpunished

The Last Soviet Laws: How Crime Went Unpunished

In the final years of the USSR, a shadow war was fought not in the streets but in the courtrooms. This episode follows the dramatic story of the last Soviet criminal trials — from the massive cotton fraud case in Uzbekistan that exposed the entire system, to the bizarre trial of a serial killer in Rostov that the KGB tried to hide. We explore how the Soviet legal system, once a tool of repression, became a stage for the empire's final contradictions. Key figures include Vladimir Kalinichenko, the investigator who took on the Uzbek mafia; Chingiz Aitmatov, the writer who chronicled the moral decay; and Andrei Chikatilo, whose trial in 1992 became a symbol of the old order's collapse. We also discuss the last Soviet death sentences, the rise of private arbitration courts, and the failed attempt to create a new legal framework under Gorbachev's perestroika. This episode reveals how the failure to reform the justice system — from the procuracy to the Supreme Court — paved the way for the lawlessness of the 1990s. #SovietUnion #lastSoviettrial #cottonfraud #Uzbekistan #Chikatilo #perestroika #glasnost #Sovietjustice #VladimirKalinichenko #ChingizAitmatov #deathpenalty #procuracy #SupremeCourtUSSR #MikhailGorbachev #1990s #lawlessness #organizedcrime #FexingoHistory Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]

20 de jul de 202611 min
Portada del episodio The Last Soviet Bunker: How the D-6 Shelter Survived the Collapse

The Last Soviet Bunker: How the D-6 Shelter Survived the Collapse

In this episode, Lucas and Luna explore one of the most secretive remnants of the Soviet Union: the D-6 bunker, a massive underground command center built beneath Moscow during the Cold War. Designed to house the entire Soviet leadership through a nuclear war, the bunker was kept operational even as the USSR crumbled above it. We trace its construction in the 1950s under Stalin's orders, its role during the Cuban Missile Crisis, and its eerie existence through perestroika, when it became a symbol of the regime's disconnect from reality. We also uncover how, after the collapse, the bunker was quietly repurposed — first as a classified government facility, then as a museum. Along the way, we meet the engineers who maintained it, the KGB officers who guarded its secrets, and the oligarchs who later toured its tunnels. This is a story of paranoia, survival, and the strange afterlife of Soviet infrastructure. #D6Bunker #Moscow #ColdWar #SovietUnion #Kremlin #Stalin #CubanMissileCrisis #Perestroika #Gorbachev #KGB #Underground #Bunker #NuclearWar #SovietHistory #USSRCollapse #Infrastructure #History #FexingoHistory Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]

Ayer5 min
Portada del episodio The Last Soviet Car: How the Lada Symbolized the Union's Decline

The Last Soviet Car: How the Lada Symbolized the Union's Decline

In this episode, Lucas and Luna explore the story of the Soviet automobile industry through its most iconic product: the Lada (VAZ-2101). From its origins as a licensed copy of the Fiat 124 to its role as a coveted yet frustrating symbol of late Soviet life, they trace how the car embodied the systemic failures of the planned economy. They discuss the AvtoVAZ plant in Tolyatti, the infamous waiting lists that could stretch for years, the black market for spare parts, and how perestroika exposed the industry's inability to compete. The episode also covers the rise of the Soviet car culture, the dacha trips, and the eventual collapse of domestic production, linking it to broader economic crises that doomed the USSR. A story of distribution, scarcity, and a nation on wheels—barely. #Lada #VAZ2101 #AvtoVAZ #SovietCar #Tolyatti #Fiat124 #Gosplan #Perestroika #SovietEconomy #BlackMarket #CarCulture #ShortageEconomy #USSR #SovietHistory #EasternEurope #FexingoHistory #HistoryPodcast #SovietUnion Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]

Ayer6 min
Portada del episodio The Last Soviet Ruble: How Empty Shelves Broke the Empire

The Last Soviet Ruble: How Empty Shelves Broke the Empire

In this episode, Lucas and Luna explore the economic collapse that underpinned the Soviet Union's final years. They focus on the forgotten 1990 price reform, the rise of the black market, and the bizarre phenomenon of the 'ruble overhang' — where citizens had money but nothing to buy. The story follows economist Grigory Yavlinsky's failed '500 Days' plan, the catastrophic Pavlov reform of 1991 that wiped out savings overnight, and the desperate scramble for foreign loans. Along the way, they discuss the role of the Soviet mafia, the spread of barter economies, and the surreal sight of empty state stores juxtaposed with flourishing underground markets. The episode also touches on the human cost: pensioners unable to buy bread, factory workers paid in toilet paper, and the quiet desperation that made the Soviet collapse feel inevitable long before the flag came down. #SovietEconomy #GrigoryYavlinsky #500DaysProgram #PavlovReform #RubleOverhang #BlackMarket #SovietMafia #BarterEconomy #Gorbachev #Perestroika #Gosplan #Shortages #EmptyShelves #1991Reform #EasternEurope #History #FexingoHistory #FallOfUSSR Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]

18 de jul de 20267 min
Portada del episodio The Last Soviet Disco: How Nightlife Danced Away from the Party

The Last Soviet Disco: How Nightlife Danced Away from the Party

In this episode, Lucas and Luna explore a surprising cultural front in the Soviet Union's final years: the disco. As perestroika loosened controls, Western dance music flooded into clubs from Tallinn to Tashkent. We follow the story of the first official Soviet disco competition in 1986, the rise of DJs like Alexander Lipnitsky, and the underground cassette culture that smuggled in everything from Boney M to Depeche Mode. We also look at how the Komsomol tried to co-opt the craze, opening youth clubs that accidentally became hotbeds of free expression. The disco wasn't just a distraction—it was a quiet rebellion that helped dissolve the ideological walls. Along the way, we meet the music collective Forum and the legendary Leningrad club 'Sai Gon'. A story of glitter, synths, and the slow fade of party control. #SovietUnion #Disco #Perestroika #Glasnost #AlexanderLipnitsky #Forum #SaiGonClub #Komsomol #LeningradRockClub #BoneyM #DepecheMode #UndergroundCulture #1980s #EasternEurope #History #FexingoHistory #YouthCulture #Nightlife Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]

18 de jul de 20265 min