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    Russian Economy General News: #2

    Viktor
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    Post  Viktor on Mon Sep 15, 2014 6:33 pm

    And another one from Egypt

    Egyptian authorities have proposed "AvtoVAZ" to create a joint venture with state-owned holding Nasr
    sepheronx
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    Post  sepheronx on Tue Sep 16, 2014 3:14 pm

    Looks like Kudrin is still trying hard to stay relevant even though he was a lousy finance minister. He decided to drop his $150B outflow down to $110B and thinks that if Russia kicked out of swift, that economy will contract by 5%. But as usual, the guy is baseless and doesnt even realize that there are multitudes of alternatives to swift from multitude of countries and soon enough, Russia as well (one company in Russia already stated they have a working system).

    Wonder when Kudrin will state that Aliens will cause bubble crash in Russian market and dooming Russia? Cause he stated collapse of Russian economy for years and still has not realized he was wrong then.

    KVS is right, Russia is full of old moneterists. The CB methods are stupid and people like Ukelele (whatever his name is) and Kudrin. Both come up with predictions with wide ranges and if numbers fall in there, even if it isnt even close to their prediction, they will say they were correct. So far, all major projects that will benefit Russia long term are by orders of Putin and his group. Financial ministers seem to not understand what is happening and live in their own little world.
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    Post  magnumcromagnon on Tue Sep 16, 2014 3:27 pm

    sepheronx wrote:Looks like Kudrin is still trying hard to stay relevant even though he was a lousy finance minister. He decided to drop his $150B outflow down to $110B and thinks that if Russia kicked out of swift, that economy will contract by 5%. But as usual, the guy is baseless and doesnt even realize that there are multitudes of alternatives to swift from multitude of countries and soon enough, Russia as well (one company in Russia already stated they have a working system).

    Wonder when Kudrin will state that Aliens will cause bubble crash in Russian market and dooming Russia? Cause he stated collapse of Russian economy for years and still has not realized he was wrong then.

    KVS is right, Russia is full of old moneterists. The CB methods are stupid and people like Ukelele (whatever his name is) and Kudrin. Both come up with predictions with wide ranges and if numbers fall in there, even if it isnt even close to their prediction, they will say they were correct. So far, all major projects that will benefit Russia long term are by orders of Putin and his group. Financial ministers seem to not understand what is happening and live in their own little world.

    You spoke about 5th-columns undermining Russia, the worst of them all are pro-austerity neo-liberal finance oligarchs like Kudrin, and isn't true that he tried to block Russia's military modernization program and was forced out of power because of that? If true than that was clear evidence that he was working for the "other side".
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    Post  sepheronx on Tue Sep 16, 2014 3:41 pm

    Pretty much. He tried to block the massive budget to rearm Russia. As well, under his policy, they sat on the money for a decade with very little domestic investments and seeked all foreign investments. Even India invests heavily in their owb economy as FDI is low in India compared to Russia. These people made Russia reliant on foreigners and its economy lacking diversification under him. Which was my other gripe. He witheld important funding in far east development that could of helped in diversification. He blamed everyone else but himself.

    Man, it was annoying. I would sometimes yell at the TV at my parents house when he was on talking about needing to diversify economy while he was in. And yet, withold the funding needed. Guy was semi smart in hording the money. But they didnt need that much, at least not comoared to needing investments for development.
    magnumcromagnon
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    Post  magnumcromagnon on Tue Sep 16, 2014 6:25 pm

    sepheronx wrote:Pretty much. He tried to block the massive budget to rearm Russia. As well, under his policy, they sat on the money for a decade with very little domestic investments and seeked all foreign investments. Even India invests heavily in their owb economy as FDI is low in India compared to Russia. These people made Russia reliant on foreigners and its economy lacking diversification under him. Which was my other gripe. He witheld important funding in far east development that could of helped in diversification. He blamed everyone else but himself.

    Man, it was annoying. I would sometimes yell at the TV at my parents house when he was on talking about needing to diversify economy while he was in. And yet, withold the funding needed. Guy was semi smart in hording the money. But they didnt need that much, at least not comoared to needing investments for development.

    ...Now all the pieces are falling together, all those years of praise for Kudrin from 'The Economist', 'The Wallstreet Journal', and 'Forbes Magazine' was in fact because they were happy their neo-liberal agent was weakening Russia economically and militarily, with his Pro-West/NATO austerity agenda.
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    Post  KomissarBojanchev on Tue Sep 16, 2014 7:19 pm

    My biggest wish for russia is for it to adopt a centrally planned economy in the interest of the working class(they have an inequality problem much worse than even in the US corporate oligarchy) in energy, aeronautical, shipbuilding, automobile , hightech R&D, computer hardware and staple food product agriculture. The only things that shouldn't get much government intervention is software development, non staple agriculture, and small business retail.

    I FUCKIN HATE IT when a special breed of post soviet russian patriots start blather on about how its so good for russian economy to have so many billionaires and millionaires. It just shows that there's too much of parasitic scum that hourde a large portion of the nation's wealth(that is in extreme need right now) to spend on shitty useless selfish private purposes.
    Mike E
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    Post  Mike E on Tue Sep 16, 2014 9:36 pm

    KomissarBojanchev wrote:My biggest wish for russia is for it to adopt a centrally planned economy in the interest of the working class(they have an inequality problem much worse than even in the US corporate oligarchy) in energy, aeronautical, shipbuilding, automobile , hightech R&D, computer hardware and staple food product agriculture. The only things that shouldn't get much government intervention is software development, non staple agriculture, and small business retail.

    I FUCKIN HATE IT when a special breed of post soviet russian patriots start blather on about how its so good for russian economy to have so many billionaires and millionaires. It just shows that there's too much of parasitic scum that hourde a large portion of the nation's wealth(that is in extreme need right now) to spend on shitty useless selfish private purposes.
    Any govt. (or organization) intervention is bad for the economy, the Fed is proof of that.
    sepheronx
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    Post  sepheronx on Tue Sep 16, 2014 10:18 pm

    http://www.zerohedge.com/news/2014-09-16/russia-central-bank-responds-domestic-dollar-shortage-starts-currency-swaps

    Whats the point? In Russia, goods are purchased in Rubles. Is it becayse majority of foreign products are dealt with in terms of USD? Because if China and other countries making majority of goods are willing to trade in each otger currencies, then why bother with this? Use your own currency and or buy other currencies like Rupee, HKD and such?
    kvs
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    Post  kvs on Tue Sep 16, 2014 11:57 pm

    sepheronx wrote: [link]

    Whats the point? In Russia, goods are purchased in Rubles. Is it becayse majority of foreign products are dealt with in terms of USD? Because if China and other countries making majority of goods are willing to trade in each otger currencies, then why bother with this? Use your own currency and or buy other currencies like Rupee, HKD and such?

    I am hoping the pain of the sanctions finally dislodges the monetarist plug in Russia's financial system.   These companies should, if they are run by competent directors, adjust their need for dollars in the coming months and years.  

    The west, led by Obama, is shooting itself in the foot.  The demand in Russia for dollars is due to industrial and consumer goods and services imports from the west.   So Russian demand will fall and shift to other suppliers.   It's too bad that Germany is led by US neocon bootlick from the ex-GDR (how consistent) and will lose its Russian market.   Germany equipment is among the best in the world.   But Russia got by on Soviet products so even Chinese and and other substitutes are good enough these days.
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    Post  Austin on Wed Sep 17, 2014 10:55 am

    Russian Military Spending to Increase Next Year Despite Sanctions - Reports

    MOSCOW, September 17 (RIA Novosti) – Russian military spending will grow in 2015 as planned despite the economic problems the country is currently facing, the Vedomosti newspaper reports Wednesday citing a note to the draft 2015-2017 federal budget.

    The national defense allocations for the federal budget are planned to increase by 21.2 percent next year, reaching 3.032 trillion rubles ($79 billion).

    "This means real growth in defense spending, since, according to the draft, inflation is expected to stand at 6 percent in 2015. Meanwhile, in 2016 and 2017 the real growth rate in military spending will be negligible and close to inflation: 7.8 percent in 2016, reaching 3.23 trillion rubles [$84 billion], and 4 percent in 2017, reaching 3.36 trillion rubles [$87 billion]," Vedomosti reports.
    NationalRus
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    Post  NationalRus on Wed Sep 17, 2014 11:39 am

    My biggest wish for russia is for it to adopt a centrally planned economy in the interest of the working class

    i think i just vomited
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    Post  Austin on Wed Sep 17, 2014 1:11 pm

    Austin wrote:Russian Military Spending to Increase Next Year Despite Sanctions - Reports

    MOSCOW, September 17 (RIA Novosti) – Russian military spending will grow in 2015 as planned despite the economic problems the country is currently facing, the Vedomosti newspaper reports Wednesday citing a note to the draft 2015-2017 federal budget.

    The national defense allocations for the federal budget are planned to increase by 21.2 percent next year, reaching 3.032 trillion rubles ($79 billion).

    "This means real growth in defense spending, since, according to the draft, inflation is expected to stand at 6 percent in 2015. Meanwhile, in 2016 and 2017 the real growth rate in military spending will be negligible and close to inflation: 7.8 percent in 2016, reaching 3.23 trillion rubles [$84 billion], and 4 percent in 2017, reaching 3.36 trillion rubles [$87 billion]," Vedomosti reports.


    I just did some back of the envelop calculation of Defence Expenditure from 2011 to 2017 based on what has been spent and what Vedomosti reports

    http://www.foi.se/Documents/foir_3688.pdf

    Defence Budget  ( Trillion Roubles )

    2011 - 1.515 
    2012 - 1.812
    2013 -  2.106
    2014 -  2.49
    2015 -   3.032  ( projected )
    2016 -  3.23     ( projected )
    2017 -  3.36     ( projected )

    Total -  17.545 Trillion 

    SAP Total Funding  ( 20 Trillion + 3 Trillion for MIC ) 

    for 2018 , 2019 , 2020 - Total Spending should be approx  5.45 Trillion

    Approx 1.9 Trillion per year for 3 years
    Hannibal Barca
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    Post  Hannibal Barca on Wed Sep 17, 2014 1:43 pm

    Austin wrote:
    Austin wrote:Russian Military Spending to Increase Next Year Despite Sanctions - Reports

    MOSCOW, September 17 (RIA Novosti) – Russian military spending will grow in 2015 as planned despite the economic problems the country is currently facing, the Vedomosti newspaper reports Wednesday citing a note to the draft 2015-2017 federal budget.

    The national defense allocations for the federal budget are planned to increase by 21.2 percent next year, reaching 3.032 trillion rubles ($79 billion).

    "This means real growth in defense spending, since, according to the draft, inflation is expected to stand at 6 percent in 2015. Meanwhile, in 2016 and 2017 the real growth rate in military spending will be negligible and close to inflation: 7.8 percent in 2016, reaching 3.23 trillion rubles [$84 billion], and 4 percent in 2017, reaching 3.36 trillion rubles [$87 billion]," Vedomosti reports.


    I just did some back of the envelop calculation of Defence Expenditure from 2011 to 2017 based on what has been spent and what Vedomosti reports

    http://www.foi.se/Documents/foir_3688.pdf

    Defence Budget  ( Trillion Roubles )

    2011 - 1.515 
    2012 - 1.812
    2013 -  2.106
    2014 -  2.49
    2015 -   3.032  ( projected )
    2016 -  3.23     ( projected )
    2017 -  3.36     ( projected )

    Total -  17.545 Trillion 

    SAP Total Funding  ( 20 Trillion + 3 Trillion for MIC ) 

    for 2018 , 2019 , 2020 - Total Spending should be approx  5.45 Trillion

    Approx 1.9 Trillion per year for 3 years


    Fuck yeah!
    Just came back from Russia. Things looking great there!
    sepheronx
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    Post  sepheronx on Wed Sep 17, 2014 3:43 pm

    Funny no one mentioned this and scream doom and gloom: http://uk.mobile.reuters.com/article/idUKKBN0H71IV20140912?irpc=932

    Total capital outflow from UK so far this year is over $200B. And speculation that in Russia it is close to half of that in total....

    Wow.
    Mike E
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    Post  Mike E on Wed Sep 17, 2014 4:22 pm

    sepheronx wrote:Funny no one mentioned this and scream doom and gloom: http://uk.mobile.reuters.com/article/idUKKBN0H71IV20140912?irpc=932

    Total capital outflow from UK so far this year is over $200B. And speculation that in Russia it is close to half of that in total....

    Wow.
    That is rough... Well, at least I know who to bet against!
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    Post  KomissarBojanchev on Wed Sep 17, 2014 7:46 pm

    NationalRus wrote:
    My biggest wish for russia is for it to adopt a centrally planned economy in the interest of the working class

    i think i just vomited

    Then you vomited on the wellbeing of russian nonoligarchs...
    kvs
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    Post  kvs on Thu Sep 18, 2014 12:01 am

    There is no need for billionaires.   They can only have such vast sums of money by controlling many companies or a few very large ones.   In either case, this is over-consolidation and does not represent an efficient market.   Economy 101 that is never mentioned in any media coverage.   By controlling so much economic activity these individuals exert an excessive amount of power.   Basically they are small dictators.    Teddy Roosevelt fought against the "Trusts" (aka oligarchs) and so did Putin.   It is a universal problem and not some evidence of Russian authoritarianism.  

    Just like with monopolies, think AT&T, the corporate empires of billionaires need to be broken up.   To prevent any future accumulation of this sort, there should be a limit on how much an individual can own.   Of course, such a limit is absurd when you talk about a few million dollars.   But setting the cap at one hundred million dollars is fine.   How many gold toilet bowls does a man need?


    Last edited by kvs on Thu Sep 18, 2014 12:03 am; edited 1 time in total (Reason for editing : revised for clarity)
    Mike E
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    Post  Mike E on Thu Sep 18, 2014 1:37 am

    kvs wrote:There is no need for billionaires.   They can only have such vast sums of money by controlling many companies or a few very large ones.   In either case, this is over-consolidation and does not represent an efficient market.   Economy 101 that is never mentioned in any media coverage.   By controlling so much economic activity these individuals exert an excessive amount of power.   Basically they are small dictators.    Teddy Roosevelt fought against the "Trusts" (aka oligarchs) and so did Putin.   It is a universal problem and not some evidence of Russian authoritarianism.  

    Just like with monopolies, think AT&T, the corporate empires of billionaires need to be broken up.   To prevent any future accumulation of this sort, there should be a limit on how much an individual can own.   Of course, such a limit is absurd when you talk about a few million dollars.   But setting the cap at one hundred million dollars is fine.   How many gold toilet bowls does a man need?
    I'm 100% fine with billionaires, as long as they earned their money or received "fair and square". Through lobbyists they can "become little dictators", but who said we needs lobbyists in the first place?
    NationalRus
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    Post  NationalRus on Thu Sep 18, 2014 2:09 am

    KomissarBojanchev wrote:
    NationalRus wrote:
    My biggest wish for russia is for it to adopt a centrally planned economy in the interest of the working class

    i think i just vomited

    Then you vomited on the wellbeing of russian nonoligarchs...

    i vomited on your stupidity, i think you should economicaly educate yourself then to spill economical diarrhea, our paragons shall be countrys like singapour, honkong, chile and switzerland and not beurocratic shitholes in the sake of labour populism, becouse what can be worse for a country then free people trying to be entrepreneurial and devolop ther country and offer a supply to ther fellow citizen that they might want, but right let the beurocrat pigs the so called "state power" knock them out in the name of a dozen oligarchs to fight with right?
    Mike E
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    Post  Mike E on Thu Sep 18, 2014 3:43 am

    Hannibal Barca wrote:
    Austin wrote:
    Austin wrote:Russian Military Spending to Increase Next Year Despite Sanctions - Reports

    MOSCOW, September 17 (RIA Novosti) – Russian military spending will grow in 2015 as planned despite the economic problems the country is currently facing, the Vedomosti newspaper reports Wednesday citing a note to the draft 2015-2017 federal budget.

    The national defense allocations for the federal budget are planned to increase by 21.2 percent next year, reaching 3.032 trillion rubles ($79 billion).

    "This means real growth in defense spending, since, according to the draft, inflation is expected to stand at 6 percent in 2015. Meanwhile, in 2016 and 2017 the real growth rate in military spending will be negligible and close to inflation: 7.8 percent in 2016, reaching 3.23 trillion rubles [$84 billion], and 4 percent in 2017, reaching 3.36 trillion rubles [$87 billion]," Vedomosti reports.


    I just did some back of the envelop calculation of Defence Expenditure from 2011 to 2017 based on what has been spent and what Vedomosti reports

    http://www.foi.se/Documents/foir_3688.pdf

    Defence Budget  ( Trillion Roubles )

    2011 - 1.515 
    2012 - 1.812
    2013 -  2.106
    2014 -  2.49
    2015 -   3.032  ( projected )
    2016 -  3.23     ( projected )
    2017 -  3.36     ( projected )

    Total -  17.545 Trillion 

    SAP Total Funding  ( 20 Trillion + 3 Trillion for MIC ) 

    for 2018 , 2019 , 2020 - Total Spending should be approx  5.45 Trillion

    Approx 1.9 Trillion per year for 3 years


    Fuck yeah!
    Just came back from Russia. Things looking great there!
    How was it there? (Besides "looking great"...)
    higurashihougi
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    Post  higurashihougi on Thu Sep 18, 2014 2:34 pm

    NationalRus wrote:
    KomissarBojanchev wrote:
    NationalRus wrote:
    My biggest wish for russia is for it to adopt a centrally planned economy in the interest of the working class

    i think i just vomited

    Then you vomited on the wellbeing of russian nonoligarchs...

    i vomited on your stupidity, i think you should economicaly educate yourself then to spill economical diarrhea, our paragons shall be countrys like singapour, honkong, chile and switzerland and not beurocratic shitholes in the sake of labour populism, becouse what can be worse for a country then free people trying to be entrepreneurial and devolop ther country and offer a supply to ther fellow citizen that they might want, but right let the beurocrat pigs the so called "state power" knock them out in the name of a dozen oligarchs to fight with right?

    The planned economy for the sake of working class is the dream and goal of many many generations of humans. But then such model is too difficult to achieve. After all greedy, jealous, and idiocy are something strongly attached to human. And the corrputed human have no difficulties in using the planned economy model for their own benefits, not for the people's sake.

    The principle is that "do not let too much of wealth fall into the hands of too few people". No matter whether you choose privatization or nationalization, make sure to follow the above motto.

    In certain countries, when fat cat oligarchs use the cover of "state" or "public services" to make money for their own, people want privatization. In countries like the U.S., where the market and media are being monopolized by financial oligarchs, a stronger and bigger goverment is more desirable.

    But then probably most people will agree that a mixed economy is the best solution to maximize both the positive effect of competition and mutual checking.
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    Post  Austin on Thu Sep 18, 2014 4:31 pm

    Russian government approves 2015-2017 budget draft


    MOSCOW, September 18. /ITAR-TASS/. The Russian government has approved a federal budget draft for 2015-2017, Finance Minister Anton Siluanov told reporters Thursday.

    Under the draft, in 2015, budget revenue will stand at 15.082 trillion rubles, spending at 15.513 trillion rubles ($389 bln) and deficit will reach 0.6% of gross domestic product (GDP). In 2016, revenue will amount to 15.72 trillion rubles ($406 bln.), spending to 16.20 trillion rubles ($418 bln.), and deficit will remain at 0.6% of GDP. In 2017, revenue will amount to 16.44 trillion rubles ($424 bln.) and spending to 16.98 trillion rubles ($438 bln.).

    Spending on the defense sector will rise 21.4% in 2015, while combined spending on education, healthcare and social policy will increase 7.3%. State support of the agriculture industry will be raised by 516 mln. in 2015, Siluanov said.

    “All proposals by the Finance Ministry (regarding optimization of the budget) were approved. Except, we will have to negotiate an approval regarding fixed additional payouts to pensions for people who retire now,” Siluanov said, adding that the issue will be discussed by the end of the month.

    Siluanov also said that the budget draft does not envisage sales tax introduction.
    The government will have a $4.9 bln. anti-crisis reserve in 2015, the minister said.

    The Reserve Fund will not be replenished in the bydget draft period and will amount to 3.705 trillion rubles ($95 bln.) by the end of 2017 due to currency fluctuation compared to 3.472 trillion rubles ($96 bln.) expected by the end of 2014. But it may fall by the end of 2017 if there is lack of non-oil and gas revenue, privatization revenue, and external and domestic borrowing.

    The National Wealth Fund will rise to $86 bln. by the end of 2017.
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    Post  sepheronx on Thu Sep 18, 2014 7:09 pm

    Firs this: http://en.itar-tass.com/economy/750147

    Then this: http://en.itar-tass.com/world/750166

    EU leaders must have a severe case of sypholus like Mugabe if they think they can have great trade with Eurasian Union while same time trying to boot Russia out of any group/economic dealings? Are they really this retarded?
    magnumcromagnon
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    Post  magnumcromagnon on Thu Sep 18, 2014 7:36 pm

    sepheronx wrote:Firs this: http://en.itar-tass.com/economy/750147

    Then this: http://en.itar-tass.com/world/750166

    EU leaders must have a severe case of sypholus like Mugabe if they think they can have great trade with Eurasian Union while same time trying to boot Russia out of any group/economic dealings? Are they really this retarded?

    It's a sad day when solipsists are the main power-brokers of Western society, but then again when your America/EU/NATO and you proselytize about the superiority of both Western Democracy and Western Civilization, while at the same time heavily demonize the country/people that's most responsible for the creation of Western Democracy and Civilization (Greece and the Greek diaspora) like true sanctimonious hypocrites, it's no wonder why we constantly question the capabilities of their cognitive faculties.

    Russia will make the EU oligarchs pay for trying to economically isolate her, the likes of South America and possibly Africa could benefit from the void the EU left behind at their own expense. So in short the EU will lose it's decisive advantage in Eurasian economic integration...I mean the Russian oligarchs were literally begging on their and hands and knees for EU FDI, but the EU jackasses literally threw away the opportunity of a lifetime.
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    Post  Mike E on Thu Sep 18, 2014 7:50 pm

    sepheronx wrote:Firs this: http://en.itar-tass.com/economy/750147

    Then this: http://en.itar-tass.com/world/750166

    EU leaders must have a severe case of sypholus like Mugabe if they think they can have great trade with Eurasian Union while same time trying to boot Russia out of any group/economic dealings? Are they really this retarded?
    lol1

    Good point though, those idiots in the West, are, well, idiots!

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