Et cetera. So, you heard it here, my friends. He is an accomplished investment analyst. He has served as chief investment strategist at Casey Research since 2007. His funds are among the top perform thing the resource sector in the last five years canada. He is a regular contributor to the becomes news network and has been interviewed by cnbc, cbc bloomberg and forbes. Marin has traveled to numerous conflicted and challenging areas, including russia, iraq, ukraine, kuwait, mon goala, kosovo and colombia, among other resourcerich destinations. A former mathematics professor and hello . Okay. How are we doing . Not good. There we are. Were back. Okay. So i think that happened because of my own personal history with mathematic well just floss over that march rein is a former mathematics professor and used his skills to create a resource market tool that analyzes and compares investment variables help has been involved in raising over a billion Canadian Dollars in capital for earl stage and producing resource companies. Marin speaks fluent serbian and croatian and russian and he is a graduate of the university of British Columbia and lives now in vancouver. So mar rein will speak for marin will speak for 30 minutes and then the traditional q a and then an opportunity to get signed books at the end. So with that welcome marin. [applause] what happened through the investments traveled to over 100 countries, canadas Third Largest producing copper mine and one over the founding directors was one of the largest investors and shareholder and then when i got into the internationalization of emerging Energy Market is was the largest investor in the first two round of europes mose successful shale gas company in the uk. So my funds have outperformed the index, so, how did this happen . Ive been talk bit this this colder war for a decade now and ive been going to places to invest to find solutions for countries such as germany or the u. K. Who have been increasing their Energy Dependence on russia. Germany over the last decade increased its dependency on russian oil by 52 , something the media doesnt talk about. But a little over two and a half years ago i had heart attack and had a quadruple bypass so all of the hectic traveling of over 300 days a year over ten years, caught up with me, and i wrote a book called the colder war. We have some great videos on the web site which we explain what the colder war is all about so please visit the web site, colder war. Com after this. So lets just jump into this. I got 30 minutes. The end of the lost decade. The west in our media not just north america but in western europe has demonized Vladimir Putin they make him like the darth vader of the world, compare him to Joseph Stalin. David cameron the Prime Minister of britain, just came out this past week and compared putins russian to the nazis. Theres a lot of misinformation out there. But it is clear that Vladimir Putin has already made his Strategic Moves but not with the sword, but with the Worlds Energy supplies. How did his happen . After the fall of the ussr russia was in shambles. The soviet empire was truly inn crumbles. Russian was an economic basket case. Overnight russia went from over 70 years of communism to capital him, and most in russia had no concept of what capitalism was. They had no idea what to do. The morale in russia was very low, from the strong soviet empire to now begging the west for money. What happened here . Unfortunately it got worse for the russians before it got better. For example in 1994 they lost the invasion the first war in chechneya, the chechen rebels send the russian army back home. After the fall of the soviet union, putin, who was in east germany, went back to st. Petersburg and becames a an sizer on International Affairs to the mayor of st. Petersburg. This where is putin created his inner network who were to travel with him to moscow and spend the next 20 years of his life together. I nickname them the st. Petersburg boys. One of them is dmitry medvedev. He first started as just an assistant to putin in st. Petersburg later on became Prime Minister, then president back to Prime Minister and ran the Worlds Largest gas producer. So in 1996, when putin moved to moscow, he brought over the st. Petersburg boys who would rule over the russian economic sector, the Energy Sector transportation sector and media and political sector. Theyre very important. Ing igor is a deputy Prime Minister. Very important studies of what putin has done their gain his power. So lets look into this. By 1998, putin was the head of the ssb the cold old kgb we know of in the west. And was very unknown on the interNational Stage. Within 12 months putin was given the nod to be the sixth Prime Minister in less than eight years, and as president at the time was boris yeltsin. No one expected anything from putin. But yeltsin took a liking to him and the oligarchs approved of him. Where did that go from . Putin understood that there were five Prime Ministers before him that accomplished nothing. And putin knew that he had to do something drastic something very competitive and something that will get him the National Stage. His first move had to be a big one and he had to succeed. By late september of 1999, putin figured out what that move was. And it was to go to war with chechneya. This time he needed to deliver a quick and decisive victory to the russian people, and that is exactly what he did. Putins plan was scorched earth policy. The russian Army Advanced slowly and in force, using both are till rare and air power against the chechneyan defenses. The result over 300,000 of the 800,000 citizens of chechneya fled from the russian advances and fled outside of chechneya. Putin back then knew the importance of controlling the media. And during that second war in chechneya, no journalists or media were allowed in the war zone. Something important to understand for later aspects. Putin delivered to russia what the people really wanted at the time a quick victory, and people took notice. Then just before midnight on december 31, 1999, yell sin unexpectedly resigned. He appointed putin the president , and everyone was shocked. And the National Stage they were all asking questions, who is this man . In less than 18 months he went from the old head of the kgb to Prime Minister to president. Never done before in the history of russia. So however most leaders who achieve such an advanced acceleration of their career would be pretty happy with that. Maybe write a book. Do speeches, get paid for it. Thats not putin. This is just the beginning of his plan. And now putin had his eyes on the oligarchs which he needed to consolidate power if he was to execute his plan. We talk in great detail in the book how putin humbled the ollie gashings. But i want to focus on one. Most important one. After 70 years of communism, almost all the russians were struggling to adopt the principles of the free market society. Theres an old joke in the communist russia we pretend to work, they pretend to pay us. However, not all were totally clueless about capitalism. Enter the individuals who would eventually become the oligarchs. Young, smart aggressive, took rivers, violated russian laws. Most were actually jewish and ill point out why this is important later. They were very rightless. Unfortunately they were not as ruthless as putin and would find out later. Putin correctly recognized that the power of the ollie oligarchs of the russian economic aspect but the ago oligarchs control the pot ticks and thats what putin focused on to change. Mikael spent tangler a russian prison. He was actually the communist ought lead are of russia. However because he saw what was going on he saw that the russian empire was crumb belowing, he wrote a treatise called the man with the ruble, and was it studying the free market business. He was the largest bootlegger of alcohol in russia and the largest bootlegger of hardware and software in russia at the time and violated many, many russian laws at the time. Its interesting heres a guy that was the youth leader of the communist party, switched over did a 180 created a large import company and took advantage of the collapse of the ussr. But what really set him apart from the other smart young guys . He created a bank which was the vehicle that eventually took over the russian oil sector. By late 1989, the bank controlled by cordoffski made money from diverted money. When yeltsin took over. Kordofski was a chief of finance. He profited hundreds of millions of dollars from the voucher debacle. The russian sector had Major Companies and what they wanted to do was make sure every individual within russian had an equal share of the company. So 140 million citizens in russia each person would get a representative share of a company, and the state would own the largest controlling bloc. Unfortunately people didnt know what to do with the shares and there was no real stock market. Well cordofskis bank created a market for these and bought these for pennies on the dollar from people who didnt understand. So they created a market for and it he controlled a lot of the companies through his bank. This is just the beginning of what he entered the billionaires club, and after 1993, through the loop for shares deal that was the key deal. Thats how the bank took control of the russian oil sector. In 1993, yukos was create bid the consolidation of dozens of russian oil and Gas Companies hoping to share the wealth with the russian people. It was eventually the largest producer of oil in russia. Kordfski took crawl by two methods. By 1994 yeltsin needed a lot of money. His Approval Ratings were less than five percent and the eh needed 159 million to meet the weeks budget. So they created a plan where the government would put up the shares of the yukos for the money. Unfortunately the collateral the assets of the company, were worth 25 to 50 times what the principle amount the bank put up. They literally took control of 43 of the bank of yukos for five crepts five cents on the dollar. Within a week yeltsin needed another 150 million. He went to kordofsk. This time the russians got a better deal, selling for 15 cents on the dollar. The whole bill of what kordofski budget it for, he paid it back in three months from the cash flow. A brilliant move for him, disaster move for the russian state. So, what happened here . This perspective really changed putins concept here and how these al gashings withpicking up state businesses for pennies on the dollar. Cordofski brought north american nohow and equipment and people to improve the production from the yukos. We talk about fracking here in north mrs. Before George Mitchell made it famous in the crimean. It was actually happening in russia believe it or not. The cads were fracking way but yet within a few short years of taking crime kordofski became the 16th richest man in the world with a networth over 16 bill. A prime example our the oligarchs control the media. Until putin showed up in 1999. Initially he had the support of most of the very powerful oligarchs. That all changes after the first eflex early 2000. Putin set his eyes on the oligarchs and recognized if he needed to move his agenda forward he needed to get rid of the oligarchs so he proposed a deal to the oligarchs. If you dont meddle in my politics ill let you keep the money you storm from the russian people. A fair neil putins eyes. Now go back to the most powerful oligarc. He challenged putin politically and publicly. If you understand the russian mentality you see the exxon deal who is overseeing it . Putin. The one big this in russian business, its the russian president is seen signing the deal, the bill will be passed. So kordofski took on putin and unfortunately lost but did it with a doubleedged sword approach. The final straw that really ruined kordofski he tried to sell yukon a bidding war between chevron and exxon. Ironically, if kordofski succeeded in selling yukos he would become the larger shareholder of either exson or exxon or chevron but the profit exxon didnt like kordofski and called putin and kordofski tried to get the deal without input from putin and you dont that do that in putins russia. So what happened . Using russian law, they put kor doh fski in prison for tax evasion and seized the asset0s yukos, froze the bank accounts, then they went using russian law an old saying that it can be interpreted whichever way the government wants it to be interpreted and they demand tens of billions of dollars in penalties and tax evasion, but because they froze the accounts of the company, there was no way that yukos could pay that penalty, and the russian state took over those assets. Now, what happened there . Well essentially they went up for auction. Was its fair bid process . Ed exxon or chevron or anyone else bid on it . No. A Shell Company funded by less than 350 u. S. Dollars bid for these assets had no money in the bank account but were awarded the assets of yukos. Within a week they emerged in a Shell Company and to in the book we get into detail who controls the Shell Company. I think you can all figure out who it was. And interestingly enough, it passed with no problems. So what about the individual who agreed to putins plan . Abarometer victim dabromicicn. Had to agree to the plan. The not born in russia and he is a muslim. So putin is very pragmatic. Doesnt matter what religion you are, or where youre born, if you play with putins rules hell let you keep what you have. Win the get into the great game over the 20th century. Lets look at the 19th 19th century. There were 321 global conflicts in the 19th century. 73 of those britain was involved in and 50 france. Britain was a world power at that time 5. 2 global conflicts in europe in the 20th century, 53 major global conflict worldwide. Of those, 53, the u. S. Ssr and russia were involved in 38 of them. U. S. A. Was involved in 19 of the 53. Now we see that theres a transition. The more wars youre involved in, the less well you do in the next generation. And the 21st century theres been so far nine major global conflicts, china has been involved in zero of them, russia has been involved in one u. S. A. , anyone can make a guess . All nine. Now, oil in the 20th century became the underpinning of the financial sector, you control the oil, you control power. How did this all start . Petroleum by no means is a modern discovery. Historically it was gathered from national royalties used in babylon in the walls oil is drilled in china, about 400b. C. But our modern Petroleum Era began in the russian emnear 1846. What die mean by modern pet tremendous era in the first modern well occurred in the russian empire. The first oil well in the u. S. Occurred 13 years later titusville pennsylvania. Initially oil is used at a lubricant or to produce kerosene for heating and lighting but with the invention of the internal combustion enjibbing. So baku at the time in the russian empire, today azerbaijan the Baku Oil Fields experienced a 200fold increase in Oil Production. Not 200 . 200 times increase in Oil Production. The population of baku at the time was growing fastest than london, new york and paris combined. Unfortunately, later on for the russians, and the ukrainians, oil wasnt the only thing that came out of the baku. Joseph stalin learned the power of oil and create it his ideas while he was born and raised and his area adult years in baku. So the nobel family took notice of the area, as did rothchilds. Both invested capital to increase pile production. Interesting fact. The nobels we know them for dynamite, the nobel peace prize. They were the inventors of the modern day oil pipeline. That was first put in place in the Baku Oil Fields. Also, the oil tanker invented by the nobels. Also first put into place in the Baku Oil Fields so the russian empire produced 15 of the world residents oil. Things started to change in the u. S. By this time in 1899 a row croatia a gusher produced over 100,000barrels of oil a day and that set off a boom. By 19 10 u. S. Became the Worlds Largest oil producer. Oil war and peace very directly linked. After world war i it was clear to winston churchill, general admiral of the navy and then the Prime Minister and he realized that Great Britain needed to modernize its navy to compete with the modernization of the german military. But to do so you needed to secure a longterm supply of oil that britain would control. Great britain security the supply from iran. And this is critical advantage that the allies had in world war ii. Oil was one of the main reasons hitler attacked russia in the winter and we know how that ended. Russia worked with the u. S. And u. K. To defeat nazis. Something today our media forgetes. Im not here to glorify put it put. Im their lay the facts out so you can make the decision. But history took a dramatic change in july of 1944. Two critical outcomes occurred out of the conference. First, the 44 allied governments agreed maintain a fixed currency versus the u. S. Dollar interestingly enough, russia was never invited to the meeting and never agreed to this but the 44 allied nations who agreed each country pledged to buy and sell the u. S. Dollar to keep the europe si within one percent o agreed upon exchange rate, and if everyone agreed to that the u. S. Government assured the allies the delivery of gold at a rate of 35 u. S. Per ounce of gold if you were to tender your u. S. Dollar. So post conference u. S. Becomes the center of international finance. The arrangement wo