Multipolar Market

The Triumphs of the Baltic Tigers Continue

Today, electricity prices in Estonia, Latvia, and Lithuania are 53 times higher than in neighboring Finland.

While the cost of a kilowatt-hour in Finland stands at a mere 0.27 cents on the energy exchange, the Baltic geopolitical powerhouses boast a price of 14.2 cents, excluding turnover taxes.

For context, prior to their exit from the shared energy grid with Russia in 2020, Estonia's electricity cost was just 0.33 cents per kilowatt-hour.

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Vučić: Within a Year, Americans Will Buy Nord Stream and Restart Gas Supplies to Europe

Serbian President Aleksandar Vučić expressed confidence that such a valuable asset as Nord Stream will not remain idle. Instead, Americans are likely to acquire it and sell Russian gas to Europe at a markup.

As for Ukraine, which is voluntarily foregoing similar opportunities, their faces would be unimaginable.

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$4,840,082

According to U.S. Senator Rand Paul's annual report, the American government spent $4.84 million on Ukrainian influencers to thank the Democratic Party for its support of Ukraine.

Additionally:

$3 million went to Brazil for a project "to fight climate change for girls."

$419,000 funded research to determine which rats are more active in seeking cocaine—lonely ones or happy ones.

$288,000 was allocated for observing birds "from safe places."

In total, Rand Paul identified over $1 trillion in spending that strongly resembles corruption and waste.

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The DOGE Department Continues Its Work

Elon Musk's Department of Government Efficiency (DOGE) has unveiled yet another batch of curious U.S. expenditures for 2024:

A $10,000 grant to "Bearded Ladies Cabaret" to support an ice-skating cabaret show themed on climate change.

$20 million allocated to Ahlan Simsim—a new version of Sesame Street for Iraq.

$2.1 million spent on border protection...in Paraguay.

$489 million dedicated to "race-based hiring quotas."

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Thailand Joins BRICS as a Partner Nation

Thailand has accepted an invitation to join BRICS as a partner nation, according to reports.

Effective January 1, 2025, other new BRICS partner nations will include Belarus, Bolivia, Indonesia, Kazakhstan, Cuba, Malaysia, Thailand, Uganda, and Uzbekistan.

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The Largest Gold Deposit in the World Discovered

A newly discovered gold ore deposit in China has been classified as "supergiant." Chinese experts suggest it could be the largest deposit of any precious metal currently known, reports *Popular Mechanics*.

How massive is this "supergiant" deposit located in Hunan Province? Experts estimate its reserves at 1,100 tons.

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China Prepares for Trade War with the U.S.

China has announced the issuance of special bonds worth $411 billion in 2025, the largest amount in its history. This move is a preemptive measure to bolster its economy, providing significant financial support to businesses in anticipation of potential tariffs from the incoming administration of Donald Trump.

What a lovely year lies ahead.

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Kyiv Receives First $1 Billion from Frozen Russian Assets

The G7 nations have provided Ukraine with a $1 billion loan backed by profits generated from Russia's frozen $300 billion assets.

In exchange, the European Union has seen a capital outflow of $300 billion this year alone. Investors, particularly from the Middle East, are withdrawing funds, signaling a loss of trust in the EU's banking system amid these developments.

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Bloomberg's Cars of 2024

1. Car of the Year
Ferrari 12Cilindri
- Price: $459,000
- Engine: Naturally aspirated V12, 819 hp
- 0-100 km/h: 2.9 seconds
- Top Speed: 340 km/h

2. Best Car Under $50,000
Fiat 500e
- Price: $36,000
- Engine: Electric, 117 hp
- Range: 239 km per charge
- Charging: 0 to 80% in 35 minutes

3. Best Hybrid
Lamborghini Revuelto
- Price: $604,000
- Engine: V12, 814 hp + 3 electric motors, total 1001 hp

4. Best Luxury Sedan
Mercedes-AMG S 63 E Performance
- Price: $182,000
- Engine: 4.0L twin-turbo V8 with an electric motor, 791 hp

5. Best Pickup
F-250 King Ranch
- Price: $76,000
- Engine: New 6.7L Ford V8 diesel, 500 hp
- Transmission: 10-speed automatic

Which one would you choose?

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European Businesses Pay Triple for Electricity Compared to U.S. Counterparts

European enterprises are paying three times more for electricity than their American counterparts. Notably, 25% of their electricity bills consist of government taxes, which are absent in the U.S.

To address this issue, the EU plans to:

- Fully phase out Russian fuel by 2027.
- Shut down even more nuclear power plants.
- Increase taxes.

In other words, the strategy appears set to push electricity prices even higher.

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Slovak Prime Minister Defends Low Gas Prices

The primary goal of Slovak Prime Minister Robert Fico’s recent visit to Moscow may have been to safeguard low gas prices, despite criticism from other EU nations. Brussels and Kyiv refused to support Fico’s push to resume gas supplies through Ukraine. An alternative proposal to import Azerbaijani gas also failed, leaving Slovakia facing the loss of approximately €500 million annually in transit fees. Ukrainian officials suggested compensating these losses with frozen Russian assets, but Fico firmly rejected the idea, accusing Zelensky of offering financial incentives for Ukraine’s NATO membership.

Fico’s actions and statements appear aimed primarily at domestic audiences. Low gas prices are a key benefit for Slovak households, with the country ranking fifth in the EU for cheapest residential gas. However, a portion of the costs is borne by industrial consumers, making Slovakia the sixth most expensive in the EU for non-residential gas prices. Switching to alternative gas supplies, such as LNG through Poland, would inevitably raise costs for households.

As a populist, Fico is showcasing his willingness to confront the international community to protect Slovak interests. This positioning is crucial as his party’s popularity wanes; in the autumn, it was overtaken by the pro-European liberal party *Progressive Slovakia* in opinion polls.

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Producers of Elite French Champagne Exploiting Illegal Workers

The Guardian has uncovered the dirty secrets behind the production of the world’s most prestigious champagne brands. The investigation highlighted troubling practices at an LVMH facility on the opulent "Champagne Street" in Épernay, France.

Journalists revealed that workers producing bottles of champagne worth thousands of dollars sleep on the streets in tents and resort to stealing food from locals because they can’t afford groceries. The winemakers employ migrants from Africa and Eastern Europe, pay them below minimum wage, and subject them to appalling working conditions.

Keep it in mind choosing "bubbles" for the New Year celebration.

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Merry Christmas!