Russia, July 2011, Thailand, Oct 5, 2011

Russia, July 2011:

SURGUTNEFTEGA is a Russian company associated closely to Vladimir Putin. One of the minority share holders is HERMITAGE CAPITAL MANAGEMENT which has publicly accused Lieutenant Colonel Artem Kuznetsov of the Ministry of Interior in a massive fraud against it.

Kuznetsov is also being investigated by the Moscow Criminal Police Division for the alleged murder of a Hermitage Capital Management’s Lawyer, one Sergi Magnitsky, who had been allegedly killed after being arrested by Kuznetsov.

Magnitsky was found dead on the 16th November 2009 at Butyrka prison. Kuznetsov is alleged to be involved or closely connected to a Ukrainian crime syndicate.

KUZNETSOV is also alleged to be closely associated privately to PUTIN, who is, as it is widely known now running for re-election in Russia.

Thailand,  October 5, 2011:

The Thai Finance Ministry and the Bank of Thailand will not be looking at accessing Thailand foreign reserves in order to establish Thailand first national sovereign wealth fund.

Thailand foreign reserves under foreign management are estimated to be just over 180 Billion US Dollars.

Thailand seems to be switching from focused investment in low yield government bonds to that of high performance assets.

This decision will have a positive impact on inflation and short termed interest rates. Target for the new wealth fund will be well beyond the 100 Billion US Dollar mark.