Is uranium poised for another big bounce? Adam Rodman of Segra Capital Management returns to follow up on his tremendously popular Real Vision interview from late 2017, and to review the key drivers of this most unusual commodity. Rodman explains the big picture, then dives down into the nuances of both the supply and demand sides of the market. Filmed on January 3, 2019 in Dallas.
You’ve got to give Vladimir Putin his due: The man knows how to play a weak hand well.
With relatively little investment, the Russian leader is expanding his toehold in the Western Hemisphere and potentially getting access to giant oil and uranium supplies by backing a dictator in Venezuela.
With relatively little investment, he has expanded his base of operations in the Middle East by propping up a dictator in Syria and by trying to send some sophisticated Russian military equipment into Turkey. (For the latter effort, he’d actually turn a profit.)
And with relatively little investment, and little notice from a distracted international community, he has kept up a low-level war against those fighting a Russian takeover in eastern Ukraine, holding on to a bargaining chip he might find useful someday.
He does all this while overseeing an economy roughly the size of South Korea’s, which produces little or nothing the world wants to buy, outside of oil and military gear.
It’s an audacious strategy—and it is working. Never was that more clear than last week, when Secretary of State Mike Pompeo and national security adviser John Boltoncited Russian support as the only reason Venezuelan dictator Nicolás Maduro remained in his country in the face of an organized uprising by his opponents and elements of his own military.
.. In short, Mr. Putin appears to recognize the moment he is in, and what to do about it. After almost two decades of a focus on combating terrorism and Islamic extremism, the world is evolving into a new era of big-power competition. The U.S. and China are the two big competitors now, of course, but Mr. Putin is making sure Russia is the third.
His problem is that Russia doesn’t have the economic might of the U.S. and China. So he brings to the table what he can, which is basically the ability to make trouble and thereby insert himself into the global mix.
Thus, Russia became an early world leader in the 21st-century tool of unconventional combat—cyber warfare. The Kremlin combined that skill with its traditional willingness to engage in the dark arts of covert action to interfere with the 2016 election in the U.S., as well as other elections in the West.
As the U.S. tries to maintain economic pressure on North Korea, Russia provides just enough economic relief to Pyongyang to ensure that Moscow has to be a player in how the standoff over North Korea’s nuclear program plays out.
Meanwhile, Mr. Putin is wedging himself into the space between East and West by offering to sell Russia’s S-400 air-defense system to Turkey, which happens to be a member of the American-led North Atlantic Treaty Organization. After members of Congress declared that Turkey couldn’t both buy the American-made F-35 jet fighter and have a Russian air-defense system geared toward shooting down that same jet, Russia stepped up and said it also would sell its own jet fighters to Turkey instead.