Not good news for the Russians

Source: Bloomberg

"Russia’s economy is fraying, its currency has collapsed, and its debt is junk. Next up is a potential default that could cost investors billions and shut the country out of most funding markets."

“This will be a monumental default,” said Jonathan Prin, a portfolio manager at Greylock Capital Associates. “In dollar terms, it will be the most impactful emerging-market default since Argentina’s. In terms of broader market impact, it’s probably the most broadly felt emerging-market default since Russia itself in 1998.”

“When a default is a slow train wreck due to policy mismanagement, you can reduce the economic impact and contain losses by gradually selling assets,” she said. “What makes this unique is this is a very sudden shock that catches everyone off guard.”

Read more: https://www.bloomberg.com/news/features/2022-03-15/what-if-russia-defaults-on-its-debt-ukraine-war-sanctions-risk-150-billion?srnd=premium&sref=3OTf8B4q

A British district court judge had initially rejected a U.S. extradition request on the grounds that Assange was likely to kill himself if held under harsh U.S. prison conditions. U.S. authorities later provided assurances that the WikiLeaks founder wouldn’t face the severe treatment that his lawyers said would put his physical and mental health at risk.

In December, the High Court overturned the lower court’s decision, saying that the U.S. promises were enough to guarantee that Assange would be treated humanely.

If convicted, Assange's lawyers say he could face up to 175 years in jail in the U.S., though American authorities have said the sentence was likely to be much lower than that.

https://abcnews.go.com/International/wireStory/julian-assange-loses-permission-appeal-uks-top-court-83438525

Source: ABCNEWS

LONDON -- Britain’s top court on Monday refused WikiLeaks founder Julian Assange permission to appeal against a decision to extradite him to the U.S. to face spying charges.

Monday's news narrows Assange's options, but his defense team may still seek to take his case to the European Court of Human Rights. Nick Vamos, the former head of extradition at the Crown Prosecution Service, said Assange’s lawyers can also seek to challenge other points that he had lost in the original district court decision.

If convicted, Assange's lawyers say he could face up to 175 years in jail in the U.S., though American authorities have said the sentence was likely to be much lower than that.



Read more: https://abcnews.go.com/International/wireStory/julian-assange-loses-permission-appeal-uks-top-court-83438525

Are we officially in a market correction? Sure looks like it to this old girl. I'm losing money like a leaky faucet. I turned to Warren Buffet for some guidance and reassurance. Thought you might also feel the need to hear some calming advice.

This article is not new, but it's advice is timeless:

https://grow.acorns.com/warren-buffett-investing-tips/

"Putin doesn’t fear a coup by oligarchs. But he should fear his fellow spies...The real threat to Putin comes from the siloviki, a Russian word used loosely to describe Russia’s security and military elite...

FSB officers are skilled at working clandestinely, keeping their most sensitive operations strictly compartmented to small groups...Like branches of an old tree, the kleptocratic autocracy in the Kremlin can withstand the occasional storm, but if the trunk is rotting, the siloviki will take action."

https://www.washingtonpost.com/outlook/2022/03/10/putin-coup-russia-siloviki/

"On June 5, 1944....Roosevelt told the American people that Rome had fallen..We...are doing everything we can to bring them relief. (W)e made preparations to ship food supplies to the city…we have already begun to save the lives of the men, women and children of Rome….

"That speech highlighting logistics as a key difference between democracy and fascism comes to mind these days as we watch democracy and authoritarianism clash in Ukraine."

"Russian president Vladimir Putin...the ideology of liberalism on which democracy is based has 'outlived its purpose. Multiculturalism, freedom, and human rights must give way to the culture, traditions, and traditional family values of millions of people making up the core population.'

https://heathercoxrichardson.substack.com/p/march-10-2022?s=r

I think not, Vlad.

https://apnews.com/article/russia-ukraine-war-live-updates-381a42b2a97f933ff1e336983c7a8101

"President Joe Biden will announce Friday that, along with the European Union and the Group of Seven countries, the U.S. will move to revoke “most favored nation” trade status for Russia over its invasion of Ukraine."

Also: "U.S. Senate has given final congressional approval to a $13.6 billion emergency package of military and humanitarian aid for besieged Ukraine and its European allies."

"The BBC said on Wednesday it would start broadcasting four hours of news a day in English on shortwave radio in Ukraine and parts of Russia, reviving a antiquated technology used in the Cold War to circumvent state censorship.

https://www.reuters.com/business/media-telecom/russia-restricts-access-bbc-russian-service-radio-liberty-ria-2022-03-04/