Grains Skyrocket in Anticipation of USDA Report, News of Russian Grain Export Limits

from the Demoines Register:
With a crucial U.S. Department of Agriculture report looming tomorrow morning, corn prices have shot up unexpectedly by 34 cents per bushel this morning on the Chicago Board of Trade to $6.39 per bushel for the December contract.
Soybeans are up 48 cents per bushel to $12.26.

from Agrimoney:

Grain prices spiked after Russia revived plans for grain export duties amid fears that its surging pace of shipments would deplete inventories.

Viktor Zubkov, the Russian deputy prime minister who in June voiced proposals for a levy, said on Tuesday that the government was considering reviving the plan to prevent its grain stocks falling below 15m-16m tonnes.

While Russia has seen a sharp revival in its grains production from last year's drought-affected levels of 61m tonnes - with Mr Zubkov pegging the harvest at 90m-92m tonnes and Prime Minister Vladimir Putin last week estimating the crop at 95m tonnes – keen prices have seen a surge in supplies leaving the country.

Russia, China Decide to Dump the Dollar

Good for them! I don't blame them for a moment!

from China Daily:
St. Petersburg, Russia - China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.
Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.

"About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.

The two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities.

The yuan has now started trading against the Russian rouble in the Chinese interbank market, while the renminbi will soon be allowed to trade against the rouble in Russia, Putin said.

"That has forged an important step in bilateral trade and it is a result of the consolidated financial systems of world countries," he said.

Putin made his remarks after a meeting with Wen. They also officiated at a signing ceremony for 12 documents, including energy cooperation.

Dumping Dollars: Russia Diversifies Reserves

Russia may add the Australian and Canadian dollars to its international reserves for the first time after fluctuations in the U.S. dollar and euro.
“Adding the Australian dollar is being discussed,” Alexei Ulyukayev, the central bank’s first deputy chairman, said in an interview at an event hosted by Bloomberg in Moscow last night. “There are pros and cons. We have added the Canadian dollar but haven’t yet begun operations” with the currency.

Russia Diversifies Away From Dollar

from FT:

Russia’s central bank announced on Wednesday that it had started buying Canadian dollars and securities in a bid to diversify its foreign exchange reserves.
Analysts said the move could be a sign of increased diversification of emerging market central bank assets away from the dollar and into investments denominated in other commodity-linked currencies, such as the Australian dollar.

More Dollar Doubts: India Questions the Dollar's Reserve Status

Joining Russia, China, and Brazil now is India in questioning the value of their Dollar reserves:

NEW YORK (MarketWatch) -- A senior official in the Indian government has joined the growing chorus questioning the U.S. dollar's unofficial position as global reserve currency, according a report published Saturday.

Suresh Tendulkar, chairman of the Prime Minister's Economic Advisory Council, said he's urging India to diversify its foreign-exchange reserves and hold fewer dollars, according to Bloomberg News.

Tendulkar said the fact that India holds so much of its reserves in dollars "is a problem for us," reported Bloomberg.

Tendulkar's comments come one week after the People's Bank of China's annual financial stability report repeated an earlier call by central bank chief Zhou Xiaochuan for the development of a new super-sovereign currency that would largely take the place of the dollar.

In early June, an official at The Bank of Russia reportedly said it will cut the share of U.S. Treasurys in its foreign exchange reserves.

Alexei Ulyukayev, first deputy chairman of Russia's central bank, said the bank plans to reduce the amount of Treasurys and that Russia would switch some of its reserves into bonds issued by the International Monetary Fund, according to reports.

Also on Saturday, China Daily reported that former Chinese Vice-Premier Zeng Peiyan in a speech in Beijing on Friday called for a new system to ensure the stability of the major reserve currencies. Zeng is the head of China Center for International Economic Exchanges.

Under the existing reserve currency arrangements, there needs to be tighter controls because "your currency is likely to become my problem," said Zeng, according to China Daily.

The rhetoric towards the dollar's international status comes as leaders of the world's leading economies ready to meet in Italy for the G8 Summit 2009, which will be held from July 8 to July 10. The heads of Canada, France, Germany, Italy, Japan, Russia, U.K. and U.S. will gather in L'Aquila, and discussions of ways to improve international finance are on the agenda.

Representatives from China, India, Brazil, Mexico, South Africa and Egypt will also be present at the meeting.

July 6 (Bloomberg) -- Russia and India said the world economy is too reliant on the U.S. dollar and called for changes in how $6.5 trillion in currency reserves are managed, as Group of Eight leaders prepare to meet this week.

“The dollar system or the system based on the dollar and euro have shown that they are flawed,” Russian President Dmitry Medvedev said in an interview with Corriere della Sera, repeating his proposal for a new international reserve currency.

Suresh Tendulkar, an economic adviser to Indian Prime Minister Manmohan Singh, said in a July 3 interview that he is urging his nation to diversify its foreign holdings away from the dollar.

The challenge to the dollar, a linchpin of world finance and trade since 1945, underlines the shift in relative economic power toward emerging markets and away from the developed nations that spawned the global crisis.

French Finance Minister Christine Lagarde, speaking yesterday at a conference in Aix en Provence, France, said that “we must explore better coordination of exchange-rate policy.”

Questions need to be asked about “the balance of currencies and the role of currencies in a world that has changed because of the crisis and the growing role of emerging countries,” she told reporters.

Bank of France Governor Christian Noyer said at the same conference, “We really need to make sure there is a greater stability between the big currencies in the period to come.”

Dollar Share Grows

For all the concerns about the dollar’s role, emerging markets such as China and India remain dependent on the currency. The International Monetary Fund said June 30 the share of dollars in allocated global foreign-exchange reserves increased to 65 percent, or $2.6 trillion, in the first three months of this year, the highest since 2007.

China doesn’t support the idea of creating a supranational reserve currency and expects the U.S. dollar to maintain its role for “many years to come,” Deputy Foreign Minister He Yafei told reporters in Rome yesterday.

While Medvedev said he sees “no alternative” to the dollar or euro now, he repeated his proposal that “regional reserve currencies” be developed and again questioned the wisdom of relying on the dollar.

‘Cannot Be Hostages’

“In the long term, we must also think about a single unit of payment such as the International Monetary Fund’s Special Drawing Rights,” a unit of an account linked to a basket of currencies, he told the Italian newspaper. “We cannot be hostages to the economic situation of a single country, as is happening today with the United States.”

Russia has support. India’s Tendulkar said he is advising Singh to diversify India’s $264.6 billion in foreign-exchange reserves and hold fewer dollars.

“The major part of Indian reserves are in dollars -- that is something that’s a problem for us,” he said in Aix en Provence. He said big dollar holders face a “prisoner’s dilemma,” a reference to a problem in game theory in which a rational choice for an individual has negative consequences for a group.

The People’s Bank of China, that country’s central bank, said June 26 that the IMF should manage more of its members’ reserves. China said July 2 that it will allow companies to use the yuan to settle cross-border trade and let them keep their entitlement to export tax rebates, seeking to reduce the reliance of importers and exporters on the U.S. dollar.

Safe Haven

The dollar’s role as a safe haven was highlighted last week when the currency advanced 0.5 percent against the euro, to $1.3894, on speculation the global economic recovery is faltering.

“Some emerging countries have decided to deal more in their respective currencies and trust each other,” Lagarde said in an interview yesterday. “That doesn’t stop other countries from seeing the dollar, and to a lesser extent the euro, as currencies of trading if not reserve currencies.”

Lagarde said that any discussion of currencies needs to encompass the dollar, the euro, the yuan and the yen and that the meetings of the Group of 20 are the right forum.

“The appropriate platform is the one in which all the major currencies are represented,” she said.

Asked in Aix en Provence about currencies, European Central Bank President Jean-Claude Trichet said it is “extremely important” that U.S. officials remain committed to their policy of supporting a strong dollar.

In Sign of Reversal, Russia's Stock Market Moves Into Bear Market Territory

from Bloomberg:
Russia’s Micex Index tumbled more than 20 percent from its 2009 peak, becoming the world’s first benchmark equity index to enter a bear market since global stocks began rallying in March.

The index of ruble-denominated shares slid 7.8 percent to 937.98 as of 6:46 p.m. in Moscow, bringing its decline since June 1 to 22 percent. The 30-company gauge led a worldwide retreat in stocks this month on concern the global recession will persist for longer than investors anticipated.

“The market needs to pause because it has been going up too much,” said Nicholas Field, who helps manage about $11 billion in emerging-market stocks at Schroders Plc in London, including Russian equities. “Nothing goes in a straight line.”

The MSCI All-Country World Index slid 5.8 percent from its 2009 high, paring its gain from a six-year low on March 9 to 39 percent.

The Micex, which rallied as much as 135 percent since October, is tumbling this month after reaching the most expensive level relative to profit estimates since January 2007, according to data compiled by Bloomberg. Russia’s economy may shrink 7.5 percent this year as industrial production collapses, unemployment rises and investors pull capital from the world’s largest energy exporter, the World Bank said today. That compares with the Washington-based lender’s forecast for a 2.9 percent contraction in the global economy.

Russia's Medvedev Says World Needs New Reserve Currency

Despite Medvedev's comment, the Dollar is only modestly lower today.

Russia Announces It Will Buy Fewer U.S. Treasuries

from Bloomberg:
Russia may switch some of its reserves from U.S. Treasuries to International Monetary Fund bonds, the central bank said today, driving Treasuries and the dollar lower.

Alexei Ulyukayev, first deputy chairman of Russia’s central bank, said some reserves may be moved from Treasuries into IMF debt, reiterating comments made last month by Finance Minister Alexei Kudrin.

“We plan to reduce the share of U.S. Treasuries, because a window of opportunity for working with other instruments is opening,” Ulyukayev said. As well as the IMF bonds, Russia could place more of its currency reserves on deposits with foreign banks, he said. His remarks were confirmed by a Bank Rossii official who declined to be named, citing bank policy.

Treasuries fell, pushing 10-year yields to the highest level since November, on the Bank Rossii statement and as the U.S. government prepared to sell $19 billion of the securities. The dollar declined versus most of its major counterparts as speculation the global recession is easing reduced demand for safety and after Ulyukayev’s remarks.

Russians: America Has Become "Marxist"

Who would know better than the Russians what marxism looks like? From Pravda:

American capitalism gone with a whimper

27.04.2009

Source: Pravda.Ru

URL: http://english.pravda.ru/opinion/columnists/107459-american_capitalism-0

It must be said, that like the breaking of a great dam, the American decent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people.

True, the situation has been well prepared on and off for the past century, especially the past twenty years. The initial testing grounds was conducted upon our Holy Russia and a bloody test it was. But we Russians would not just roll over and give up our freedoms and our souls, no matter how much money Wall Street poured into the fists of the Marxists.

Those lessons were taken and used to properly prepare the American populace for the surrender of their freedoms and souls, to the whims of their elites and betters.

First, the population was dumbed down through a politicized and substandard education system based on pop culture, rather then the classics. Americans know more about their favorite TV dramas then the drama in DC that directly affects their lives. They care more for their "right" to choke down a McDonalds burger or a BurgerKing burger than for their constitutional rights. Then they turn around and lecture us about our rights and about our "democracy". Pride blind the foolish.

Then their faith in God was destroyed, until their churches, all tens of thousands of different "branches and denominations" were for the most part little more then Sunday circuses and their televangelists and top protestant mega preachers were more then happy to sell out their souls and flocks to be on the "winning" side of one pseudo Marxist politician or another. Their flocks may complain, but when explained that they would be on the "winning" side, their flocks were ever so quick to reject Christ in hopes for earthly power. Even our Holy Orthodox churches are scandalously liberalized in America.

The final collapse has come with the election of Barack Obama. His speed in the past three months has been truly impressive. His spending and money printing has been a record setting, not just in America's short history but in the world. If this keeps up for more then another year, and there is no sign that it will not, America at best will resemble the Wiemar Republic and at worst Zimbabwe.

These past two weeks have been the most breath taking of all. First came the announcement of a planned redesign of the American Byzantine tax system, by the very thieves who used it to bankroll their thefts, loses and swindles of hundreds of billions of dollars. These make our Russian oligarchs look little more then ordinary street thugs, in comparison. Yes, the Americans have beat our own thieves in the shear volumes. Should we congratulate them?

These men, of course, are not an elected panel but made up of appointees picked from the very financial oligarchs and their henchmen who are now gorging themselves on trillions of American dollars, in one bailout after another. They are also usurping the rights, duties and powers of the American congress (parliament). Again, congress has put up little more then a whimper to their masters.

Then came Barack Obama's command that GM's (General Motor) president step down from leadership of his company. That is correct, dear reader, in the land of "pure" free markets, the American president now has the power, the self given power, to fire CEOs and we can assume other employees of private companies, at will. Come hither, go dither, the centurion commands his minions.

So it should be no surprise, that the American president has followed this up with a "bold" move of declaring that he and another group of unelected, chosen stooges will now redesign the entire automotive industry and will even be the guarantee of automobile policies. I am sure that if given the chance, they would happily try and redesign it for the whole of the world, too. Prime Minister Putin, less then two months ago, warned Obama and UK's Blair, not to follow the path to Marxism, it only leads to disaster. Apparently, even though we suffered 70 years of this Western sponsored horror show, we know nothing, as foolish, drunken Russians, so let our "wise" Anglo-Saxon fools find out the folly of their own pride.

Again, the American public has taken this with barely a whimper...but a "freeman" whimper.

So, should it be any surprise to discover that the Democratically controlled Congress of America is working on passing a new regulation that would give the American Treasury department the power to set "fair" maximum salaries, evaluate performance and control how private companies give out pay raises and bonuses? Senator Barney Franks, a social pervert basking in his homosexuality (of course, amongst the modern, enlightened American societal norm, as well as that of the general West, homosexuality is not only not a looked down upon life choice, but is often praised as a virtue) and his Marxist enlightenment, has led this effort. He stresses that this only affects companies that receive government monies, but it is retroactive and taken to a logical extreme, this would include any company or industry that has ever received a tax break or incentive.

The Russian owners of American companies and industries should look thoughtfully at this and the option of closing their facilities down and fleeing the land of the Red as fast as possible. In other words, divest while there is still value left.

The proud American will go down into his slavery with out a fight, beating his chest and proclaiming to the world, how free he really is. The world will only snicker.

Stanislav Mishin

The article has been reprinted with the kind permission from the author and originally appears on his blog, Mat Rodina

Internal Russian Report Suggests Upcoming Wars Over Energy

from AP:
A Kremlin policy paper says international relations will be shaped by battles over energy resources, which may trigger military conflicts on Russia's borders.

The National Security Strategy also said that Russia will seek an equal "partnership" with the United States, but named U.S. missile defense plans in Europe among top threats to the national security.

The document, which has been signed by President Dmitry Medvedev, listed top challenges to national security and outlined government priorities through 2020.

"The international policy in the long run will be focused on getting hold of energy sources, including in the Middle East, the Barents Sea shelf and other Arctic regions, the Caspian and Central Asia," said the strategy paper that was posted on the presidential Security Council's Web site.

"Amid competitive struggle for resources, attempts to use military force to solve emerging problems can't be excluded," it added. "The existing balance of forces near the borders of the Russian Federation and its allies can be violated."

Russian, Chinese Spies Penetrate U.S. Electrical Grid, Exploit Vulnerabilities

from the Wall Street Journal:
Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, according to current and former national-security officials.

The spies came from China, Russia and other countries, these officials said, and were believed to be on a mission to navigate the U.S. electrical system and its controls. The intruders haven't sought to damage the power grid or other key infrastructure, but officials warned they could try during a crisis or war.

"The Chinese have attempted to map our infrastructure, such as the electrical grid," said a senior intelligence official. "So have the Russians."

The espionage appeared pervasive across the U.S. and doesn't target a particular company or region, said a former Department of Homeland Security official. "There are intrusions, and they are growing," the former official said, referring to electrical systems. "There were a lot last year."

Many of the intrusions were detected not by the companies in charge of the infrastructure but by U.S. intelligence agencies, officials said. Intelligence officials worry about cyber attackers taking control of electrical facilities, a nuclear power plant or financial networks via the Internet.

Authorities investigating the intrusions have found software tools left behind that could be used to destroy infrastructure components, the senior intelligence official said. He added, "If we go to war with them, they will try to turn them on."

Officials said water, sewage and other infrastructure systems also were at risk.

"Over the past several years, we have seen cyberattacks against critical infrastructures abroad, and many of our own infrastructures are as vulnerable as their foreign counterparts, " Director of National Intelligence Dennis Blair recently told lawmakers. "A number of nations, including Russia and China, can disrupt elements of the U.S. information infrastructure."

Russia Considering Joining OPEC

“I would like to say that we are prepared for this [joining OPEC]. We must defend ourselves, since this is our revenue base, both from oil and gas. These kinds of defensive measures could be tied to lowering oil production, and participating in the existing suppliers organization, and participating in new organizations, if we can come to an agreement beforehand, so to speak.”

Russian President Dmitri Medvedev

If Russia does join OPEC, Europe will be even more at the mercy of Russia, since it buys much of its energy resources there. It could have costly consequences for Europeans who like to drive or stay warm in the winter.

Russia's Industrial Output Falls

From the Wall Street Journal:

Russian industrial output plunged in November, exceeding even the most pessimistic expectations and affirming that the country's economic fundamentals are too fragile to fend off fears of a recession. Industrial production, hit by liquidity shortages and falling export demand, slumped an unadjusted 8.7% from November 2007, data released Tuesday by the Federal Statistics Service, or Rosstat, showed.

Click here for the full story.

It appears that no one, including the largest and most prosperous emerging markets, are immune from the effects of this recession.

Russian Ruble Devaluation Gathers Steam

From Bloomberg:

"The devaluation of Russia’s ruble gathered pace as the central bank loosened its control of the currency for the fifth time in a month... Russia has drained 27 percent of its reserves since the start of August as the central bank sold foreign currency to stymie a 16 percent decline in the ruble versus the dollar. The currency has weakened along with the Micex stock index as investors took almost $200 billion out of the country amid the worst financial crisis since Russia’s 1998 debt default as oil slumped."

Here is the rest of the story on Bloomberg.

The New Reality -- Russia Is Back

Stratfor has provided a fascinating analysis of the new world now that Russia is back as a world power. Here is an excerpt:

Putin has tapped many former KGB and current FSB members to fill positions within Russian big business, the Duma and other political posts. Putin’s initial reasoning was that those within the intelligence community thought of Russia the same way he did — as a great state domestically and internationally. Putin also knew that those within the intelligence community would not flinch at his sometimes brutal means of consolidating Russia politically, economically, socially and in other ways. It could be reasonably argued that Russia has become an “intelligence state” under Putin.

Since assuming power, Putin has also worked to strengthen the Russian military and the GRU, Russia’s military intelligence agency. The GRU was undoubtedly very involved in the operation in Georgia, as was the SVR. There are some who suggest that Russian agents of influence may have played a part in convincing Georgian President Mikhail Saakashvili to attack South Ossetia and spring a trap the Russians had set.

Here is the entire article:

The Second Cold War and Corporate Security

Read in particular the section on the implications for business.

Along the same lines, John Mauldin, in his weekly newsletter this week, also has a fascinating article. For example, did you know that that largest KGB office in the world is in Mexico, just as it was during the Cold War? Guess who it is spying on! And did you know that the only country on the planet that recently recognized the breakaway regions of Georgia as part of Russia was one of the United States' neighbors? (Hint: It wasn't Cuba or Venezuela.)

The Russian Resurgence and the New-Old Front

Russia's Stock Market: Look Out Beloooooow!

Don't stand under Russia's stock market, or you'll get crushed on the way down, like a piano falling out of a high-rise window (see the daily chart above)! With the collapse of crude oil prices and the rush for the exits by global investors, Russia's stock market has plunged more than 53% in four months. Furthermore, Putin's animosity toward private property and private capital has created an environment in which investors are uncomfortable making capital investments. Tyranny and prosperity don't mix very well!

Russia's stock market, after plunging 17% in a single day, was shut down when it fell too far, too fast. A similar plunge in the Dow would amount to a plunge of nearly 1,900 points. I have never seen a drop in the Dow of more than 570 points in the time I've traded futures. That was in January over the Martin Luther King Holiday, and the Dow recovered and closed higher the next day. But the equivalent of 1,900 points? Now that's a big plunge!

Here is an article at the Financial Times with more details:
Russia Halts Trading After 17% Share Price Fall

Solzhenitsyn Prescient of Emerging Western Standoff With Russia

In his weekly newsletter, John Mauldin has again published a report from Stratfor regarding Russia and its relations with the West. Interestingly, Russia over the past few days has intentionally sought to provoke the United States by engaging in naval military maneuvers in the Western Hemisphere with Venezuela in clear defiance of the Monroe Doctrine. The White House press secretary brushed aside the significance of the event by saying that these Russian ships were the only ones the Russians could find that could make it as far as Venezuela, but we in the West would be wise not to underestimate the determination of the Russian bear, given its long history and recurring character.

This article draws from the writings of Alexander Solzhenitzen, the former political prisoner of the Soviet Union who published his book, "The Gulag Archipelago" more than 25 years ago. I remember reading his book as a teenager (yeah, heavy stuff for a sixteen-year-old), and was shocked that such places existed in this world. It was about 800 pages! But it opened my eyes to the real world, and it was an awakening that every citizen of the West could benefit from. Solzhenitsyn died just days before the invasion of Russian troops into Georgia, but his characterization of the Russian political soul is just as timely and accurate today as it was nearly three decades ago. Ironically, even though the Soviets permitted the book to be published, they continued to maintain their gulags until the very last day when the Soviet empire was (supposedly) vanquished.

Just as existed in the West during the Soviet era, many in the West today, especially among the intellectual class, deny the true monstrosity of what is happening in today's Russia.

Here is John Mauldin's introduction of the article:

"Read this obituary essay from my friend George Friedman over at Stratfor. George puts Solzhenitsyn in historical context, using his life and writings to illustrate not just the evolution of the Russian/Soviet/Russian system but also the Western perception of Russia and what it says about future relations. It's uncannily ironic that Solzhenitsyn died just days before Russia forcefully punctuated its geopolitical prominence in going to war with Georgia. You can almost imagine Solzhenitsyn shrugging and asking, "What did you expect?" Over the Labor Day weekend, Russian President Medvedev used a press interview to lay out five points that will define Russian foreign policy going forward. Allow me to translate (loosely) from the Russian: 'We're back.'"

Here is the full article. Do not pass this over! This is truly fascinating stuff:

Solzhenitsyn and the Struggle for Russia's Soul

The Ruble Is Rubble

The Russian ruble and the Russian stock market have both been severely punished for the invasion of Georgia one month ago. Global investors continue to liquidate their equity holdings and sell the ruble, as they realize that there is no safety of capital or property in Russia, causing both the currency and the stock market to continue to drop. The Russian stock market has fallen nearly 50% in the past 2 months, and neither the business climate nor the ruble show any signs of recovery anytime soon.

Russians Turn Back UN Aid Convoy

Russians today refused to allow a UN aid convoy to enter the war-torn regions of Georgia. The convoy was filled with flour, pasta, sugar, and other staples. Here is the story:

Russia Turns Back Aid Convoy

"The Russians started this three centuries ago. They want us to become like them -- pigs," he said. "We are not like this." Russian soldiers had been stopping at houses in the village to demand food and drink -- asking the locals why they favor the U.S., not Russia, said a South Ossetian man.

Kremlin KGB Kings

Here is a great write-up sent out by John Mauldin in his weekly newsletter. Mauldin was ranked as the second best investment adviser (only Warren Buffet was higher). He forwards an article written by Stratfor, the world's private intelligence company. Stratfor is an adviser to most multinational corporations around the world regarding security and terrorism.

As investors, having timely and accurate data about dangerous places and nationalistic policies of governments around the world can prevent potentially catastrophic losses. Often, we think of an investment in terms of preventing small losses. However, I have learned by sad experience that in some countries, one can lose the entire investment, sometimes literally overnight, if that country doesn't respect private property. One of those places is Russia. Vladimir Putin and Dmitry Medvedev, the joint KGB Kings of the Kremlin, have transformed Russia over the the past 8 years from a fledgling democracy into a oligarchical fascist dictatorship where there is no free press, freedom of assembly, freedom of speech, private property rights, or due process protections.

As an investor that invests internationally, I recommend this newsletter highly. It is written by an expert on the Russian Federation and has great insights into what is really going on and how it will change the world.

The Real World Order