Connect with us

Latest

Analysis

News

Walter Mitty versus the United States: the sad and strange case of Carter Page

Carter Page’s testimony to the House Intelligence Committee shows an individual detached from reality but takes Russiagate allegations no further

Alexander Mercouris

Published

on

8,057 Views

Message from The Duran: If you like this article then please consider supporting our Crowdfunding campaign.  We depend on your support to continue to provide you with articles like this one.

On 2nd November 2017 Carter Page, the former businessman and banker who was for a time a volunteer helper of the Trump campaign, gave evidence to the House Intelligence Committee, which is looking into the allegations of collusion between the Trump campaign and Russia.

Carter Page is a pivotal figure in the collusion theory that lies at the heart of the Russiagate scandal.

His name appears in several places in the Trump Dossier – which Carter Page has now confirmed is the basis for the whole Russiagate investigation – with the focus being on two trips he made to Moscow last year, one in July 2016 when he gave a speech to Moscow’s New Economic School, and one in December 2016 when some sections of the Russian media spoke of him – wrongly – as an emissary of President elect Trump.

On 22nd April 2017 in an article for The Duran I said that Carter Page is in reality a fantasist with only a tenuous grasp of reality.

He managed to get a place in the Trump campaign by exaggerating his qualifications and background – pretending to a Ph.D he does not have – whilst fooling some Russians (including the board of the New Economic School) into thinking that he was much closer to Donald Trump than he really was.

At the same time, like George Papadopoulos – the other Trump campaign aide who was recently indicted – he was trying to impress the Trump campaign by pretending to contacts with senior Russian officials which in reality he never had.

Here is what I said about Carter Page in my previous article about him written on 22nd April 2017

This account points up an important aspect of Carter Page’s personality, which has been the source of much confusion and trouble.  This is his habit of self-aggrandisement.  He seems to have fooled Trump into appointing him a foreign policy adviser on the strength of his having a Ph.D, when he doesn’t have a Ph.D. 

This is how Carter Page’s Wikipedia entry explains this

Page was one of five people named as foreign policy advisors by Donald Trump in March 2016, and was also attributed by Trump as having a PhD.[19] It is unknown at this time whether Trump was mistaken as to Page’s credentials or if Page falsified them in applying for an advisory position with the Trump team. There is no evidence, as confirmed by Trump campaign staffers, that Page had ever met or briefed Trump.[3]

In addition, as the extract from the CNN article I have quoted shows, instead of frankly admitting that he had only a minimal role in the Trump campaign – saving everyone a great deal of trouble – Carter Page persists in pretending otherwise, and passes off visits to public spaces within Trump Tower as ‘proof’ of this.

This makes it impossible to take Carter Page seriously, and makes it difficult to see how he deserves the attention he is getting.  Moreover Carter Page’s proclivity for self-aggrandisement makes the whole thesis the Russians used him to “try to infiltrate” the Trump campaign – much less that they succeeded in doing so – look immediately fanciful.

In truth Carter Page comes across as a something of a busy body who briefly managed to fool the Russians last year into thinking he was closer to Trump than he really was.  On the strength of this he was able to wangle an invitation to give a talk to Moscow’s New Economic School at a time last summer when the Russians would have been anxious to know what candidate Trump’s policies towards Russia actually were.  The article provides information from a source in the New Economic School showing how this happened

…..a spokesman for the school told CNN that Page’s ties to Trump helped secure the invitation.  “The organizing committee for the commencement last year thought that he was a colorful and interesting character,” said Denis Klimentov, a spokesman for the New Economic School. “It was partially supported by the fact that The Washington Post, the newspaper, back in the spring of 2016, cited Carter as one of Mr. Trump’s foreign policy advisors.”

(bold italics added)

Carter Page followed this up with a second invitation in December, after Trump had won the election, when the Russians would have been even more anxious to find out what now President-elect Trump’s policies towards Russia were, and when they would have been especially anxious to hear what someone who they clearly still thought was one of the President-elect’s key foreign policy advisers would say.

That this is what the Russians still thought Carter Page was at the time of his second visit is shown by this comment of Leonid Reshetnikov, the Director of Russia’s Institute of Strategic Studies, quoted by CNN in the article

“It’s quite possible that Trump’s advisor is a pragmatist and a realist.  This is probably not an ordinary visit. He has probably received some instructions from the President-elect. I don’t think that meetings at the highest level will take place, but (the possibility) cannot be excluded.”

In reality Carter Page had no ‘instructions’ from President-elect Trump, it seems he and Trump had never even met, and – needless to say – no “meetings at the highest level” took place.  Once the new administration was formed it quickly became clear Carter Page had no role in it and was not close to Trump at all and did not speak for the new President.  At that point the misapprehension the Russians had about him would have ended, and they lost interest in him.

There is not a scintilla of evidence in any of this of collusion between the Trump campaign and Russia.  On the contrary the fact the Russians mistook a Walter Mitty figure like Carter Page for an important adviser of Trump’s shows how poorly informed about Trump they actually were.  That does not speak of collusion between the Trump campaign and Russia.  On the contrary if anything it shows that no such collusion was taking place.

Since the Russiagate scandal broke Carter Page has made things worse for himself and has caused a huge amount of trouble by (unlike George Papadopoulos) failing to come clean.  Instead he continues to pretend that his obviously fictional contacts in Moscow were real ones whilst simultaneously denying their importance.

Moreover he has disastrously compounded the trouble by his incredibly stupid decision not to instruct a lawyer.  Instead he is purporting to represent himself, taking on the FBI, the CIA, the House Intelligence Committee, the Senate Intelligence Committee, the Justice Department, Special Counsel Robert Mueller and the entire US media all by himself.

The result is the farce of the hearing which took place on 2nd November 2017 the transcript of which in combination with Carter Page’s written submissions goes on for an extraordinary 208 pages.

Anyone who takes the trouble to plough through this extraordinary document cannot fail but notice the bemusement of the members of the House Intelligence Committee as they found themselves dealing with a witness the like of which none of them have probably ever previously come across.

Their bafflement was elegantly captured in a lengthy discussion of Carter Page’s testimony by The Atlantic, which has given the best account of it

Schiff summed the situation up cleanly: “Were you being honest in your communication with the campaign? Are you being honest in your testimony? Because it doesn’t seem possible for both to be true.”

Schiff wasn’t the only one baffled. Republican Trey Gowdy, who frequently sounds incredulous during his portions of the testimony, asked, “I didn’t think I’d ever be going through this with anyone, but we’ve got to, I guess. You seem to draw a distinction between a meeting, a greeting, a conversation, and you hearing a speech.”

Elsewhere The Atlantic captures perfectly the madcap quality of Carter Page’s testimony

It’s just one example of how Page comes across as hopelessly self-aggrandizing throughout the testimony. He brags about his connections and credentials, dropping references to Harvard, Cambridge, and New York universities, and even noting his Delta frequent-flyer status. Describing his several email accounts, Page mentioned receiving many emails from Gary Sick, a respected Middle East scholar at Columbia University. Reached by email, Sick told me he’d briefly met Page in the 1990s or early 2000s and had not had any contact since, and that the emails in question came from a listserv of some 2,000 people.

There develops a strange dichotomy, in which Page presents himself as an important and respected man in Russia, invited to give a commencement speech independent of his work for the Trump campaign, and yet also downplays his importance to the Trump team, calling himself a very junior staffer. (Gowdy, again: “Mr. Page, I wrote down: volunteer, unpaid, informal, unofficial. I’m still trying to figure out what the hell your role was with the Trump campaign.”)

Elsewhere The Atlantic discusses the bafflement of the members of the Committee as Carter Page (1) simultaneously invoked the Fifth Amendment for certain of his documents only to say that they were actually less “incriminating” than other documents the FBI had already seized; (2) simultaneously confirmed and denied having a meeting with Russian Deputy Prime Minister Arkady Dvorkovitch (he finally appeared to admit the ‘meeting’ took place, but said it was not really a ‘meeting’ because it went no further than an exchange of pleasantries); and (3) gave contradictory explanations for emails he sent to the Trump campaign, in which he purported to discuss opinions he said he had been given by senior Russian officials and members of the Duma, but which he told the Committee were actually gleaned from things he had read in the newspapers.

Though I have had no contact with Carter Page and my knowledge of him and his activities derives purely from what the media has written about him I can assist the members of the House Intelligence Committee with all these questions.

Just as I said back in April that Carter Page was a self-aggrandising fantasist – something The Atlantic now admits is the case – so I can now say with confidence that the purported meeting with Dvorkovitch almost certainly never took place and that the other meetings which Carter Page wrote about in his emails to the Trump campaign never happened either.

Possibly Carter Page did meet Dvorkovitch briefly in July 2016, though personally I doubt it.  If he did meet Dvorkovitch it would have been – as he now says – a brief and accidental encounter which went no further than an exchange of pleasantries.

As for the other meetings with senior officials of the Russian government, of the Presidential administration, and of the Duma, which Carter Page claimed had happened in his emails to the Trump campaign, I am quite sure these never happened.

The only person who has ever said these meetings ever happened is Carter Page himself.  Given the fact that he is now admitted to be a self-aggrandising fantasist there is no more reason to suppose that he spoke the truth about these meetings than that he is telling the truth about anything else.

As for Carter Page’s decision to claim the Fifth Amendment for some of his “less incriminating'”documents, that is almost certainly nothing more than a case of attention-seeking and self-aggrandisement.

Personally the only parts of Carter Page’s testimony which I take seriously are (1) his confirmation that the entire Russiagate investigation is based upon and is guided by the Trump Dossier; and (2) that the accounts of his activities set out in the Trump Dossier are untrue.

I would of course add that the reason I believe these parts of Carter Page’s testimony are true is not because he says them.  It is because there is abundant independent evidence which corroborates them.

Needless to say nothing Carter Page said in his testimony – and none of the questions which were put to him by the members of the Committee – provide the slightest grounds for thinking that the central claim of the Russiagate scandal – that the Trump campaign colluded with the Russians to steal and publish the DNC’s and John Podesta’s emails – is true.

On the contrary – as was the case with the emails sent by George Papadopoulos – Carter Page’s emails actually show that no collusion took place.

As to those who say that it is an amazing coincidence that two fantasists – George Papadopoulos and Carter Page – were both simultaneously working for the Trump campaign, I would say two things:

Firstly, it is not a coincidence at all.  At any point in time there are any number of such people around, and given their overwhelming need for attention joining a Presidential campaign holds an obvious attraction to them.

Political campaigns – and I have personal knowledge of several – are always prey to such people.  Tough and clear-sighted management filters them out, but as Jared Kushner has recently admitted the Trump campaign was disastrously short of such management, which is why people like George Papadopoulos and Carter Page were able to find their way in.

Secondly, there is a fundamental difference between George Papadopoulos and Carter Page.

Papadopoulos comes across as a well-meaning but inexperienced young man who got swept along by the excitement of the moment, causing him to represent both himself and his contacts to the Trump campaign as far more important than they really were.

Carter Page by contrast comes across as a far more troubled and disturbed individual.

At some level he was probably trying to leverage his role in the Trump campaign to enhance his business in Russia whilst simultaneously using the fact that he had an established business connection with Russia to enhance his position in the Trump campaign.

However the extent of Carter Page’s detachment from reality as shown by his Congressional testimony together with his bizarre decision to represent himself rather than act through a lawyer suggests someone who is going through a deep personal crisis.

Putting a person like that through the sort of grinder that Carter Page is being put through is in my opinion a profound cruelty, all the more so as he is an obvious suicide risk.  I hope someone has taken note of that fact and is taking the necessary precautions.

Message from The Duran: If you like this article then please consider supporting our Crowdfunding campaign.  We depend on your support to continue to provide you with articles like this one.

Continue Reading
Advertisement
Comments

Latest

Russia makes MASSIVE progress on its ‘super-weapons’

Avangard hypersonic glide vehicle moves into serial production, nuclear-engine powered cruise missile tests continue, and more as Russia continues to outdo all Western military tech

Seraphim Hanisch

Published

on

On July 19th and 20th, The Russian Defense Ministry announced several milestones of progress in its advanced weapons systems programs. These programs were revealed to the world in March of this year, when Russian President Vladimir Putin gave the State of the Russian Federation speech.

Support The Duran – Browse our Shop >>

While at first the Western onlookers did not believe the amazing announcements of hypersonic weapons and nuclear-powered cruise missiles with unlimited range, subsequent releases and concurrent observation by the American military experts has shown these developments to be as real as Mr. Putin claimed they are.

TASS, the Russian News Agency, released information on these weapons systems in separate reports:

Kinzhal

The Kinzhal hypersonic missile:

Squadrons of MiG-31 fighter jets armed with Kinzhal hypersonic missiles should enter combat duty in the Black Sea region and at other Russian fleets and flotillas, said Russian military expert Viktor Murakhovsky, the editor-in-chief of the Arsenal Otechestva magazine.

Besides, a squadron (between 12 and 16 aircraft) of MiG-31 fighter jets armed with Kinzhal hypersonic missiles entered combat duty in the Caspian Sea region in April.

“I think at least one squadron of those complexes should be deployed at any fleet, in other words – at all regions where we have fleets and flotillas. We need to deploy them in the regions of the Black Sea, the Baltic Sea, the Northern Fleet. The Pacific region also should not be forgotten,” Murakhovsky said.

He said that such systems can become a “good instrument” against not only vessels equipped with high-precision weapons, but also for countering carrier attack groups.

“We know how expensive a carrier attack group can be. By employing this asymmetric method, which is unbelievably cheap in comparison with building a carrier attack group, we can neutralize this threat almost completely,” the expert said.

Burevestnik nuclear-powered cruise missile trials:

The Burevestnik is an entirely new cruise missile, powered by a nuclear engine. This gives the missile unlimited range. In theory, such a missile could be launched at a target and spend days or weeks in hidden flight using advanced guidance systems, and then close on its target at the optimal time to assure destruction of that target with maximum surprise. The TASS piece goes on to say:

The Russian Defense Ministry announced that Russia was preparing to test upgraded test prototypes of the nuclear-powered Burevestnik cruise missile with an unlimited range.

According to the expert, it is highly likely that the prototype of the missile “has already made a flight.”

“Clearly, it was something like the pop-up trials of Sarmat – a launch without the nuclear-powered engine, in other words, with an ordinary missile booster, conducted in order to assess the possibility of a launch, aerodynamics and the operability of the entire system in general,” [Murakhovsky] said.

Further reporting from TASS had this to add about the Burevestnik program:

Russia is getting ready for flight tests of the Burevestnik nuclear powered cruise missile, an official at the Defense Ministry told reporters on Thursday.

“The missile’s component makeup is being improved based on clarified requirements, while ground tests continue and preparations are being made for experimental flight tests of the improved missile,” the official said.

According to the Defense Ministry, “work on an unlimited-range missile is going according to plan.”

“In the meantime, launching systems are also being designed, while technological processes to manufacture, assemble and test the missile are being improved. This range of work will make it possible to start designing a totally new sort of weapon – a strategic nuclear complex armed with a nuclear powered missile,” the ministry official noted.

[The head] of the 12th Central Research Institute at Russia’s Defense Ministry Sergey Pertsev, in turn, said that the tests of the new cruise missile equipped with a small nuclear power unit had confirmed the accuracy of the technical decisions that Russian researchers, engineers and designers had made. In addition, the tests enabled the researchers “to receive valuable experimental data necessary for specifying a number of requirements.”

“A low-flying and low-observable cruise missile carrying a nuclear warhead, with an almost unlimited range, an unpredictable trajectory and capability to bypass interception lines is invincible to all the existing and advanced air and missile defense systems,” the Russian Defense Ministry stressed.

A further use of the nuclear engine technology is also expected in the Poseidon underwater drone, Mr. Murakhovsky stated that separate systems for the craft have been successfully tested. He further noted that the next task is to design the entire layout, build a test model and begin testing the whole platform.

The Avangard Hypersonic Missile

While the Kinzhal is a Mach-10 capable hypersonic system that can be launched from a fighter, the Avangard is a Mach-20 capable system that has intercontinental reach. There is almost no footage of this system released to the public, but the concept videos show how the system works. TASS reports this status:

Russia’s Strategic Missile Force is preparing a position area for accepting the Avangard hypersonic missile system for service as part of the efforts to strengthen the country’s military security, the Defense Ministry announced on Thursday.

“The Russian defense industry has completed developing the Avangard missile system with the principally new armament – the gliding cruise warhead. Industrial enterprises have switched to its serial production,” the Defense Ministry said.

“A set of organizational and technical measures is underway in the position area of the Dombarovsky large unit of the Strategic Missile Force to accept the Avangard missile system for operation,” it added.

The development of new strategic weapon systems “is aimed at increasing Russia’s defense capability and preventing any aggression against our country and its allies,” the Defense Ministry stressed.

The infrastructural facilities of the large unit’s position area have already been prepared for the missile system’s operation, the ministry said.

“The position area has been prepared in geodesic and engineering terms to accommodate the missile system. Work is underway to build new and reconstruct old facilities to provide for the operation and the combat use of the system. Technical and utility supply lines are being modernized and electric power, communications and command and control cables are being laid. Work has been arranged to train personnel and prepare armament, military and special hardware,” Russia’s Defense Ministry said.

Deputy Commander of Russia’s Strategic Missile Force for Armament Sergei Poroskun has said that the Avangard hypersonic missile system features combat capabilities that “make it possible to reliably breach any anti-missile defenses.”

The Okhotnik attack drone

The Okhotnik (“Hunter”) attack drone is now being viewed as a prototype for Russia’s “sixth-generation” fighter plane. TASS describes this in more detail:

According to [a defense industry] official, although the sixth generation fighter jet project “has not yet taken full shape, its main features are already known.”

“First of all, it should be unmanned and capable of performing any combat task in an autonomous regime. In this sense, Okhotnik will become the prototype of the sixth generation fighter jet,’ the source said, adding that the drone will be able to “take off, fulfill its objectives and return to the airfield.”

“However, it will not receive the function of decision-making regarding the use of weapons – this will be decided by a human,” he said.

TASS was unable to officially confirm the information at the time of the publication.

Another defense industry source earlier told TASS that the prototype of Okhotnik (Hunter) was ready and would start test flights this year.

The Russian Defense Ministry and the Sukhoi Company signed a contract for developing the 20-ton Okhotnik (Hunter) heavy unmanned strike aircraft in 2011. The drone’s mock-up model was made in 2014. According to unconfirmed reports, composite materials and anti-radar coating were used to create the Okhotnik. The drone is equipped with a reaction-jet propulsion and is supposed to develop a speed of 1000 kilometers per hour.

Peresvet laser weapons systems

TASS reported that the Russian military forces are now training for the use of the Peresvet combat laser system:

Russian Aerospace Force has accepted for service the laser complexes Peresvet and the military are now taking drills that involve the novel combat technologies, the Russian Defense Ministry said on Thursday.

“The Peresvet laser complexes have been placed at sites of permanent deployment,” the report said. “Active efforts to make them fully operational are underway.”

“To ensure their proper functioning, the necessary infrastructures and specialized facilities for housing the complexes and duty crews have been built,” the ministry said.

The crews assigned to the Peresvets have taken upgrader courses at the Alexander Mozhaisky Military-Space Academy in St Petersburg.

The Russian military strategy of “asymmetric response.”

The overall defense strategy is termed an “asymmetric response”, and Mr. Murakhovsky explained the principle in this way:

“This is an asymmetric response, in which new classes of weapons are created, instead of new types within the framework of the existing systems. Other states are not expected to have anything of this kind [in the near future],” he said.

The expert described this response as “quite an efficient one, all the more so because it requires no additional investment – all the works are being carried out within the framework of the state procurement program.”

He added that unlike the Soviet Union, Russia avoids being dragged into a direct arms race and searches for cutting-edge solutions instead of simply increasing the number of weapons.

“The development of counter-weapons to those arms [may be possible] in distant future, but it does not mean that they can be created at all,” Murakhovsky added.

Continue Reading

Latest

From McCain to Brennan, Deep State soft coup against Trump picks up steam (Video)

The Duran – News in Review – Episode 59.

Alex Christoforou

Published

on

After Trump’s meeting with Putin in Helsinki, the Deep State smells blood, and is moving quickly to depose of US President Donald Trump.

Government officials and mainstream media puppets from left and right are condemning the US President over his press conference with Vladimir Putin.

Leading the charge are the usual Deep State, suspects, starting with John McCain and ending with the man many believe is behind the entire Trump-Russia collusion hoax, former Obama CIA boss John Brennan.

RT CrossTalk host Peter Lavelle and The Duran’s Alex Christoforou examine the soft coup aimed at removing US President Trump by the November 2018 midterms. Remember to Please Subscribe to The Duran’s YouTube Channel.

Via The Independent

Conservative John McCain, who is facing a rare and terminal brain cancer, unleashed a damning statement against Mr Trump’s conference with Mr Putin, describing it as “one of the most disgraceful performances by an American president in memory”.

“President Trump proved not only unable, but unwilling to stand up to Putin,” he said.

“It is tempting to describe the press conference as a pathetic rout — as an illustration of the perils of under-preparation and inexperience. But these were not the errant tweets of a novice politician. These were the deliberate choices of a president who seems determined to realise his delusions of a warm relationship with Putin’s regime without any regard for the true nature of his rule, his violent disregard for the sovereignty of his neighbours, his complicity in the slaughter of the Syrian people, his violation of international treaties, and his assault on democratic institutions throughout the world.”

The conservative senator’s comments arrived after the US president declined to name Russia as the adversary behind coordinated attacks on the 2016 presidential election.

While discussing whether he thought Russia was behind hacks against the 2016 election — as the US intelligence community has determined —the president said: “I don’t see any reason why it would be.”

“Dan Coats [the US Director of National Intelligence] said its Russia. President Putin says its not Russia,” said Mr Trump. “I don’t know why it would be…..I have confidence in both parties. President Putin was extremely strong and powerful in his denial today.”

That set off a wave of condemnations from Democrats and Republicans alike.

“President Trump’s press conference with Putin was an embarrassing spectacle,” Bernie Sanders wrote in a tweet. “Rather than make clear that interference in our elections is unacceptable, Trump instead accepted Putin’s denials and cast doubt on the conclusions of our intelligence community. This is not normal.”

Jeff Flake, one of the only frequent Republican critics of Mr Trump in Congress, said the conference was “shameful” in a statement he posted across social media.

“I never thought I would see the day when our American President would stand on the stage with the Russian President and place blame on the United States for Russian aggression,” he said. “This is shameful.”

Former CIA Director John Brennan released a statement calling for Mr Trump’s impeachment and describing his comments as “treasonous”.

“Donald Trump’s press conference performance in Helsinki rises to & exceeds the threshold of ‘high crimes and misdemeanours,'” Mr Brennan wrote on Twitter. “It was nothing short of treasonous. Not only were Trump’s comments imbecilic, he is wholly in the pocket of Putin. Republican Patriots: Where are you???”

Elizabeth Warren also slammed the president for failing to hold Mr Putin accountable, writing on Twitter: “Russia interfered in our elections & attacked our democracy. Putin must be held accountable – not rewarded.”

“Disgraceful,” she concluded.

However, Mr Trump’s typical roster of critics weren’t the only legislators rebuking his bizarre denials of US intelligence. Lindsey Graham also criticised Mr Trump’s performance, adding that his denial of US intelligence will “be seen by Russia as a sign of weakness and create far more problems than it solves”.

“Missed opportunity by President Trump to firmly hold Russia accountable for 2016 meddling and deliver a strong warning regarding future elections,” he said.

The Republican senator added a suggestion to Mr Trump: review the soccer ball Mr Putin gave to him as a gift for “listening devices” and “never allow it in the White House.”

Thomas Pickering, a regarded statesman and the former US ambassador to Russia, told MSNBC that he was in utter disbelief after the press conference was held on Monday.

“It’s a breathtaking denial of something that clearly is so obviously true,” he said. ”it represents the epitome of President Trump’s effort at self-promotion over the notion of defending the national interest of the United States.”

Mark Warner, a Virginia senator, also suggested Mr Trump committed a clear violation of his responsibilities as president.

Mr Trump committed “a breach of his duty to defend our country against its adversaries,” Mr Warner said. ”If the President cannot defend the United States and its interests in public, how can we trust him to stand up for our country in private?”

Meanwhile the latest Deep State leak, via the NYT, claims that US President Trump was told by Obama holdovers that Putin was involved in cyberattacks during the 2016 election. US intelligence told Trump this information days before the inauguration.

Via The Gateway Pundit

The same liberal hacks who illegally leaked this information want Americans to trust them as they continue to destroy this duly elected president.

President Trump on Wednesday told CBS anchor Jeff Glor that he has no confidence in the tainted intelligence by far left hacks Clapper, Brennan and Comey.

And, once again, the timing of this leak is not an accident.

Liberals are outraged that President Trump refused to chest bump Putin in Helsinki.

The deep state leaked this information to pile on the Republican president.

The New York Times reported…

Two weeks before his inauguration, Donald J. Trump was shown highly classified intelligence indicating that President Vladimir V. Putin of Russia had personally ordered complex cyberattacks to sway the 2016 American election.

The evidence included texts and emails from Russian military officers and information gleaned from a top-secret source close to Mr. Putin, who had described to the C.I.A. how the Kremlin decided to execute its campaign of hacking and disinformation.

Mr. Trump sounded grudgingly convinced, according to several people who attended the intelligence briefing. But ever since, Mr. Trump has tried to cloud the very clear findings that he received on Jan. 6, 2017, which his own intelligence leaders have unanimously endorsed.

Continue Reading

Latest

Russia ranks HIGHER than Switzerland in these areas of doing business

Some curious things happened with several businesspeople who attended World Cup events in Russia.

Published

on

Russian President Vladimir Putin

One of them was a distinctly renewed interest in doing business inside the country, and another was the realization to what extent perceptions have been tainted by media and political rhetoric directed against any real or imagined nastiness attributed to Russia these days.

These past few weeks have been invaluable, at the very least by affording a clear picture of Russia through which almost all anxiety-ridden preconceptions were illuminated and dispelled. More disturbing was the fact that the several businesspeople I was dealing with were furious. They were livid for being played for fools, and felt victimized by the dismally untrue picture painted about Russia and Russians in their home countries, both by their own politicians and the press.

Support The Duran – Browse our Shop >>

Most felt that they have been personally sanctioned by their own countries, betrayed through lack of clear unbiased information enabling them to participate and profit from Russia opportunities these past three growth years in spite of “sanctions”.

The door to doing good business in Russia has been and is open, and has been opening wider year after year. That is not just “highly likely”, but fact. Consistently improving structures, means and methods to conduct business in Russia sustainably, transparently and profitably are now part of the country’s DNA. It is a process, which has been worked on in the west for more than a century, and one, which Russia has only started these past 18 years.

True, there are sanctions, counter-sanctions, and regulations governing them that must be studied carefully. However if you are not a bank or doing business with those persons deemed worthy of being blacklisted by some countries “sanctions list”, in reality there are no obstacles that cannot be positively addressed and legally overcome despite the choir of political nay-sayers.

READ MORE: Russia just dumped $80 BILLION in US debt

The days of quickly turning over Russia opportunities into short-term cash are rapidly fading, they are a throwback to the 1990’s. Today the major and open opportunities are in the areas for Foreign Direct Investments. The nature of FDI is long term to make regularly recurring sustainable returns on investment.

Long term, Russia always was and increasingly confirms that it is a vibrant and attractive market. There is a significant consumer market with spending power, a well-educated workforce, a wealth of resources and the list goes on. The economic obstacles encountered have largely been imposed from without, and not from the dynamics and energies of the Russian economy itself.

Eventually sanctions will end, although the timeline is anyone’s guess. Meanwhile business continues, and any long-term engagement within Russia by establishing a working presence will yield both short and long-term investment rewards. These will only be amplified when the sanctions regimes are removed. In any event, these aspects are long-term investment decisions and one of the criteria in any risk assessment.

For some added perspective, Russia is ranked by the Financial Times as the No.2 country in Europe in terms of capital investments into Europe. It has a 2017 market share of 9% (US$ 15.9 billion) and includes 203 business projects. This is 2% higher than 2016 and better that 2014/2015 when sanctions were imposed.

Another item of perspective is the Country Risk Premium. All investors consider this when calculating the scope for long-term return on investments. What may surprise some is that Russia is no longer ranked as a very high-risk country. For comparisons sake: The risk premium for Germany is zero (no extra risk), the risk premium for Italy is 2.19%, and for Russia, it is 2.54%. When compared to politically popular investment destinations like Ukraine the risk premium is 10.4%  – food for thought. Bottom line is that the risks of investing in Russia are a smidge higher than investing in Italy.

Russia is ranked 35 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The ranking of Russia improved to 35 in 2017 from 40 in 2016 and from 124 in 2010. It may also surprise some to learn that as concerns protecting the rights of minority investors, paying taxes, registering property and some other aspects of the World Bank comparisons, Russia comes out better than Switzerland (See: Rankings).

From operational standpoints, establishing an invested presence in Russia does not mean one must adopt Russian managerial methods or practices. The advantages for established foreign companies is that their management culture is readily applied and absorbed by a smart and willing workforce, enabling a seamless integration given the right training and tools.

The trend towards the ultimate globalization of business despite trade wars, tariffs, sanctions and counter-sanctions is clear. The internet of the planet, the blockchain and speed of information exchange makes it so whether we wish it or not. Personally, I hope that political globalization remains stillborn as geopolitics has a historical mandate to tinker with and play havoc with international trade.

Russia occupies a key strategic position between Europe and Asia. The “west” (US/Europe) have long had at times rather turbulent relationships with China. At the same time the Chinese are quite active investors in both the US and Europe, and western companies are often struggling to understand how to deal with China.

The answer to this conundrum is Russia: this is where East and West will ultimately come together with Russia playing a pivotal role in the relations between the west and China. At the end of the day, and taking the strategic long-term economic view, is what both Chinese and Western companies are investing in when they open their activities in Russia.

If long-term commitment and investment in Russia were simply a matter of transferring funds then I would not be bothering with this opinion article. Without a doubt, there are structural issues with investing in Russia. A still evolving and sometimes unclear rule of law, difficulties obtaining finance for investments directed towards Russia, the unique language and culture of business in the country. Nevertheless, companies that have an understanding and vision of global strategy will manage with these issues and have the means to mitigate them.

Money and other invested resources do not and should not play politics; any investment case when evaluated on objective financial criteria will reveal its fit, or lack of, within a company’s global strategic business objectives. The objective criteria for Russia over any long term horizon is both convincing and strong. This has been repeated by all of the businesspeople I have met with these past few weeks. Without doubt we shall see some new companies coming into the Russian market and objectively exploring the gains their playing fair business football here will yield.

Continue Reading

JOIN OUR YOUTUBE CHANNEL

Advertisement

Your donations make all the difference. Together we can expose fake news lies and deliver truth.

Amount to donate in USD$:

5 100

Waiting for PayPal...
Validating payment information...
Waiting for PayPal...
Advertisement
Advertisements
Advertisement
Advertisements

Quick Donate

The Duran
EURO
DONATE
Donate a quick 10 spot!

The Duran Newsletter

Trending