

by John Helmer, Moscow
@bears_with
Imagine the history of a bank written by the driver of the getaway car used by a gang of holdup men after their heist.
Then imagine the driver and his gang are religious fundamentalists convinced that what they are doing is God’s mission to reform the banking business by introducing daylight robbery as one of what they call the “underpinnings of capitalism”.
As the car speeds away with the loot, the driver leads the other gangsters in reciting their mantras: “obviously it was the Wild West”; “there’s a ton of money to be made in chaos”; “capitalism in Russia wasn’t born under laboratory conditions. It was born in a vacuum of governance”; “with Goldman Sachs’ analysis backing you , investing in Russia became the closest thing you could get to a no-brainer”.
These lines have been written by a man called Charles Hecker (lead image, right), a reporter for the Moscow Times in the 1990s who turned into a Russia expert for the Control Risks group of London. After that employment ended recently, he has published a book with the title, Zero Sum, The Arc of International Business in Russia.
What’s unusual about this is that in 457 pages, Hecker doesn’t present or analyse the annual reports, financial balance-sheets, Initial Public Offering (IPO) prospectuses, or market regulation filings of a single significant Russian company or business sector. Instead, Hecker reports interviewing 57 individuals who spent time in Russia between 1991 and 2022, working for mostly US and British companies, law firms, accountancies, hotels, and media. Just seven of these sources (12%) were Russian born, but none has lived in Russia for many years. In Hecker’s footnotes, 647 of them in total, there are just seven Russian-language sources; they are texts of official enactments.
The outcome is a heist-and-getaway history in which Hecker reports the impact of economic sanctions against Russia on the say-so of think tanks in Kiev, the State Department, and Yale University; the rise of post-Soviet media on the say-so by Dutchman Derk Sauer whose publications in Russia were financed by secret US agencies, then Mikhail Khodorkovsky; the role of Russian crime and criminals on the say-so of Mark Galeotti, a writer in the Rupert Murdoch stable whose book of 2018 was a fabrication with no Russian criminal for its source; the history of state asset privatization on the say-so of Harvard University consultants; the Russian oil business on the say-so of BP executives dictating to the London press; and the fraud and embezzlement prosecution of Baring Vostok and Michael Calvey on the say-so of the Financial Times.
Say-so doesn’t make so. But this is not as hackneyed and pointless as it may sound. The point is easier to acknowledge now during the semifinal stage of the Battle of the Ukraine than during the war preliminaries: the point is that Hecker is employed in a form of counter-intelligence and information warfare to sustain Anglo-American enthusiasm and cashflow for the war despite the defeat of the Anglo-American side on the battlefield.
What Hecker doesn’t understand (cannot see in the book’s evidence) is that the extraordinary reward-to-risk multiples, ratios of debt to earnings and profit to outlay, speed of payback, and zero rate of taxation which characterized Russian business between 1991 and 2022, were planned weapons of the Anglo-American war to destroy Russia, its economy first, then its military capacity to defend itself, and finally its social cohesion. That war has been hot by degrees since 1917, never cold. Following the corrupt betrayals by Russian leaders themselves between 1991 and 2000, this war almost ended in Russia’s capitulation.
It still may.
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