Features
“Agent Sonya” – the story of the Soviet Union’s most important female spy
Reviewed by BERNIE BELLAN I happened to have the radio on one Saturday afternoon – more as background noise than anything, when Elanor Wachtel’s CBC program on books, “Writers & Company”, came on. Normally I don’t pay attention to Wachtel’s program because it requires paying complete attention to the radio – something which I rarely do unless I’m out for a walk. However, as soon as Wachtel began to introduce her guest, a writer by the name of Ben Macintyre, the subject matter immediately grabbed my interest. Here is how she introduced Macintyre:
“Mrs. Len Beurton of Great Rollright, a tiny village in the Cotswolds, was an apparently ordinary housewife and mother of three, famous for her home-baked scones.
“In reality, she was Agent Sonya, a top Soviet operative, transmitting plans for the atomic bomb from an outhouse in her Oxfordshire garden. Her real name was Ursula Kuczynski and her intelligence work took her from her native Germany to Shanghai, Japanese-occupied Manchuria, Poland, Switzerland and England.
“Ursula’s eventful life is the subject of Ben Macintyre’s compelling new book. The British journalist is known for his bestselling accounts of international espionage — stories of intrigue, romance, betrayal, war, loyalty and conflicted morality. Over the past 30 years, he’s produced a dozen engaging, authoritative studies of high-profile figures ranging from Britain’s famed double agent Kim Philby to Moscow’s Oleg Gordievsky, who spied for Britain. He is also currently a columnist and associate editor for the Times U.K.”
As I listened with rapt interest to Macintyre describing the life of “Agent Sonya” I was determined to read his book – and I did, in less than a week.
Now, while I have somewhat of an interest in spy thrillers, including several I’ve read by Daniel Silva who features an Israeli spymaster by the name of Gabriel Allon (after being turned on to Silva two years ago during one of the meetings of the book club this paper co-sponsors with the Rady JCC, when our brilliant convener Sharon Freed who, unfortunately died much too young, included Silva’s “Rembrandt Affair” on the reading list that year), I much prefer reading non-fiction accounts of espionage, especially when they’re about the Mossad.
So, when Macintyre began to relate the story of an incredibly successful female spy for the Russians whose story has gone relatively unreported – and then happened to remark that she was Jewish to boot – well, he had me hooked.
Sonya Buerton (born Ursula Kuczynski, a.k.a. Sonya Hambuerger) was one of those rare individuals who not only succeeded brilliantly at her craft, she managed to live out her days dying a natural death in Moscow in the 1970s. That she survived the Stalin era in itself is rather extraordinary as Stalin’s paranoia led him to purge the ranks of his spy network on an ongoing basis – including a good many of the agents who had nurtured Sonya’s own career.
The fact that Ursula Kuczynski was born into an upper class Jewish family in Berlin in 1908 is something that I found most intriguing. The often pivotal roles that many Jews played in the spread of communist ideology in the first few decades of the 20th century is something that is widely known, but reading about someone who came from quite a prosperous family and who chose to commit herself to the pursuit of an ideology that was essentially antithetical to her own upbringing – and remained absolutely committed to that vision throughout her life, is not easy to understand.
Having experienced the chaos of the Weimar Republic in Germany one might well comprehend how someone as intelligent and well-educated as Ursula would have been drawn to communism in her late teens – at a time when Germany was being polarized into two camps – fascist and communist. It doesn’t seem, however, that the Kuczynski family’s being Jewish had much to do with what eventually became a thoroughly unquestioning loyalty to Soviet Communist ideology on the part of everyone of its members, including Ursula’s father, brother, and four sisters. That Ursula remained committed to communism throughout her life, however, despite all the betrayals of its goals perpetrated by Stalin and his disciples, is much more difficult to understand.
Macintryre doesn’t spend much time exploring the lure that communism held for Jews, but what I found particularly unsettling is how each member of this family was able to rationalize Stalin’s atrocities. Further, when the Russian Foreign Minister Molotov and his German counterpart Von Ribbentrop signed their non-aggression pact in 1939, the fact that so many communist sympathizers were able to twist themselves into pretzels defending a total betrayal of everything they had been espousing when it came to fighting fascism is really an indication how easily communist sympathizers could justify a 180 degree reversal in thinking without much compunction.
Ursula’s life, as told by Macintyre, was thoroughly documented throughout her lifetime, by her and by others, who kept detailed accounts all through the 1920s, 30s, and 40s. It turned out that Ursula was actually an excellent writer and her journals were not only detailed and very readable, when she eventually managed to escape to the Soviet Union shortly after the end of World War II, she managed to turn her fine writing talent into a craft as a writer of spy thrillers under the pen name “Ruth Werner”. (Her books, written in Russian and translated into several languages, actually sold quite well. As Macintyre notes, Ursula was merely one more former spy who was able to use their own experiences in order to turn out masterful spy novels. Included in that group also were Graham Greene and John Le Carré.)
Yet, as much as Ursula’s being Jewish does not play a central role in “Agent Sonya”, consider this: Her first marriage was also to a fellow Jew, an architect by the name of Rudolf Hamburger. Hamburger himself had no interest in Ursula’s communist leanings early on, and he was rather successful as an architect. But, in one of the most surprising twists in the story, once he and Ursula moved to China, where he helped to design some of the famous buildings along Shanghai’s Bund, and Ursula was first approached with the idea of becoming a Russian spy, even all the while that their marriage was falling apart, Hamburger was gradually transforming into a communist himself.
Further, even after Ursula left him – and the child that she bore while married to him, Hamburger became convinced that he too had to become a Russian spy! All the while he still loved Ursula too, even after he learned that she had become pregnant by another man and then again, by yet a third man.
It was in China that Ursula became a full-fledged Russian spy – with a change of name to Sonya. Several characters played key roles in leading to Ursula’s gradual induction into the world of Soviet espionage, including an America writer by the name of Agnes Smedley – a larger than life character who eventually became a leading apologist for Mao Tse Tung’s totalitarian rule.
The cast of characters in “Agent Sonya” is riveting. What Macintryre does so brilliantly is describe how ordinary individuals who would not stand out in any exceptional way possess the key ingredients that it takes to be a successful spy, including, among others: resourcefulness, an exceptional ability to lie one’s way through any situation, and what Ursula Kuczynski apparently possessed in spades: an ability to thoroughly compartmentalize one’s life.
Here we have a woman who, on the one hand, is a capable housewife – and mother – to three different children, by three different men no less! (and the children actually move with her from time to time as she’s relocated by her Soviet spymasters to different locations around the world, including Manchuria, Poland, Switzerland, and finally Britain), at the same time as she is able to insinuate herself into the upper echelons of enemy administrations wherever she is based.
In one passage that I found particularly compelling, “Sonya” describes how difficult it often was for her to sleep – and dream, without finding all the contradictory aspects of her various secret lives running up against one another. All the while she did this without resorting to alcohol or drugs – which is what almost inevitably become the crutches upon which spies lean. That she was also able to move from relationship to relationship with different men – twice at the order of her Soviet spymasters, and actually have honestly warm relationships with them to the point where she did love them yet, when ordered to leave those men, embark on a new assignment, is testament to her total acceptance of her role.
Here’s another interesting note about Sonya: As much as the intelligence she provided about various enemies, including: Chinese Republicans in Shanghai, Japanese occupiers in Manchuria, and German Nazis in Switzerland, was of great value to Russian intelligence, it was when she was able to move to England in 1941 that her greatest espionage coup was to come.
Living in a nondescript farmhouse in an out of the way village not too far from Oxfordshire – and by this time her name was now Sonya Buerton (the last man to whom she was married was also a spy by the name of Len Buerton), she was put in touch with a German-born scientist by the name of Klaus Fuchs. Fuchs was a brilliant physicist who was working on Britain’s own plan to develop an atomic bomb – separate and apart from what the Americans were doing at the same time. He was, however, a devout communist and determined to share whatever secrets he could with the Russians.
Sonya became his intermediary through which he was able to pass along reams of information to the Russians that proved to be of incalculable value in helping the Russians to leap frog what would undoubtedly have taken them years more to acquire on their own. Later, he moved to the U.S. to work on the fabled Manhattan Project. It was while he was in the U.S. that he had a change of heart, however, and turned himself in as a spy to the Americans. At the same time, though, he never betrayed Sonya.
Macintyre asks repeatedly how it was that Sonya was never caught by British intelligence, despite all the evidence that had been pointing for quite some time in her direction. Although he doesn’t arrive at a definitive conclusion, he suggests that more than anything, it was the total incompetence of the head of MI5 (Britain’s internal intelligence service), someone by the name of Roger Hollis, that led to Sonya’s being able to evade arrest.
At the time there was only one woman in a senior position in MI5, whose name was Millicent Bagot. Bagot was a dedicated – and thoroughly competent spychaser, far better qualified in her position than Hollis, who never believed that a woman could be a successful spy. Bagot was actually convinced early on that Sonya was a Russian agent and she bitterly fought to keep her from being allowed to enter Britain in 1941.
There is more than a little irony in the fact that one of Russia’s most successful spies of all time was a woman who was able to carry on her espionage precisely because she was a woman, while the one individual who would undoubtedly have been able to expose Sonya was also a woman but whose abilities were constantly underestimated, just as Sonya’s were, surrounded as she was by thick headed men.
“Agent Sonya” is a thoroughly compelling read. While the fact that Sonya was Jewish may be regarded as largely irrelevant to what became the story of her life since it never seemed to play any role in what ultimately ensued, I’m sure that for Jewish readers of this book the awareness that the person they are reading about was Jewish will lead to one’s wondering whether her being Jewish played a much larger role in her story than perhaps even Sonya herself was aware.
Here’s what Macintrye himself has to say in summing up Ursula’s life toward the end of his book: “If you had visited the quaint English village of Great Rollright in 1945, you might have spotted a thin, dark-haired and unusually elegant woman emerging from a stone farmhouse called The Firs, and climbing on to her bicycle. She had three children and a husband, Len, who worked in the nearby aluminium factory. She was friendly but reserved, and spoke English with a faint accent. She baked excellent cakes. Her neighbours in the Cotswolds knew little about her.
“They did not know that the woman they called ‘Mrs Burton’ was really Colonel Ursula Kuczynski of the Red Army, a dedicated communist, a decorated Soviet military intelligence officer and a highly-trained spy who had conducted espionage operations in China, Poland and Switzerland, before coming to Britain on Moscow’s orders. They did not know that her three children each had a different father, nor that her husband was also a secret agent. They were unaware that she was a German Jew, a fanatical opponent of Nazism who had spied against the fascists during the Second World War and was now spying on Britain and America in the new Cold War. They did not know that in the outdoor privy behind The Firs, Mrs Burton had constructed a powerful radio transmitter tuned to Soviet intelligence headquarters in Moscow. The villagers of Great Rollright did not know that in her last mission of the war, Mrs Burton had infiltrated communist spies into a top-secret American operation parachuting anti-Nazi agents into the dying Third Reich. These “Good Germans” were supposedly spying for America; in reality, they were working for Colonel Kuczynski of Great Rollright.
“But Mrs Burton’s most important undercover job was one that would shape the future of the world: she was helping the Soviet Union to build the atom bomb.
“For years, Ursula had run a network of communist spies deep inside Britain’s atomic weapons research programme, passing on information to Moscow that would eventually enable Soviet scientists to assemble their own nuclear device. She was fully engaged in village life; her scones were the envy of Great Rollright. But in her parallel, hidden life she was responsible, in part, for maintaining the balance of power between East and West and (she believed) preventing nuclear war by stealing the science of atomic weaponry from one side to give to the other. When she hopped on to her bike with her ration book and carrier bags, Mrs Burton (or, more precisely, Beurton) was going shopping for lethal secrets.
“Ursula Kuczynski was a mother, housewife, novelist, expert radio technician, spymaster, courier, saboteur, bomb-maker, Cold Warrior and secret agent, all at the same time.”
“Agent Sonya” – the story of the Soviet Union’s most important female spy
“Agent Sonya”
By Ben Macintyre
354 pages
Published Sept., 2020
Available on Amazon
Features
Exchange Rate Factors: What Global Events Mean for Savvy Investors
When Russia invaded Ukraine in 2022, it created ripples in all financial markets, including currency markets. The Euro weakened while the dollar surged and emerging market currencies wobbled. Global factors can quickly affect financial markets and shake established trends. Apart from such rare events, currencies tend to change their price because of interest rates, inflation, and overall investor confidence. For investors managing money abroad, understanding these movements is critical to avoid losses and mitigate risks.
Below, we will break down how global political, economic, and cultural events influence exchange rates, with insights for savvy investors.
Economic factors
There are several key exchange rate factors with a consistent history of shaking financial markets. These factors include inflation, interest rates, trade balances, employment rates, and so on. Since economic factors are shaping markets almost daily, we start with those.
Inflation and interest rates
Inflation and interest rates are closely connected as one can easily affect the other. When inflation rises, central banks step in and raise interest rates to reduce inflation, and when inflation is lower, central banks can lower interest rates to make borrowing money cheaper. As a result, investors closely monitor these two metrics to anticipate changes in interest rates. Higher inflation makes currencies weaker, and whenever banks change the rates, the changes are immediately reflected in global currency rates. In the United States, the Federal Reserve is the central bank that sets interest rates in the country.
Trade balances and economic growth
A country that exports more than it imports has a stronger demand for its currency. More demand equals a stronger currency. However, the Japanese yen was always weaker against the dollar because the BOJ of Japan tends to have super low rates near 0 to support its exporters. Economic growth also increases demand for local currency as more investors try to invest in the country’s economy. Long-term investors often track this data to detect early signs of any changes in currency strength.
Political and geopolitical factors
Elections, sanctions, and overall political stability are also crucial factors. If the country gets under sanctions, its economy crumbles and its currency becomes inflationary, losing its value quickly. Elections are also crucial for a currency’s strength. Geopolitical events can have a serious impact on the currency as well. The most obvious example is the 2016 Brexit events that made GBP lose its value rapidly and violently. Global conflicts, such as wars, can seriously impact global financial assets, especially currency markets. When tensions are high, safe-haven currencies like USD and CHF (Swiss Franc) become very popular among investors as they seek a safe place to protect their capital.
Cultural and social factors
People like tourists, workers, and diaspora communities can shape currencies as well. Tourism usually drives seasonal demand, and countries that are popular destinations during certain seasons experience their currency appreciation as demand spikes. The perception matters as countries seen as safe and opportunity-rich tend to attract more investors, solidifying their currency strength.
Technology and innovation
Technology is seriously affecting everything, especially the financial sector. Digital payment systems, blockchain technology, and fintech startups have made it easy and swift to move money around. Cryptos and stablecoins enable investors to protect their capital using stablecoins during volatile times. The latest trend among banks is to work on CBDCs, which signals a new era where national currencies are blended with technology and blockchain. Despite this, currencies, even in their crypto form, will continue to be influenced by all major factors mentioned above, and knowing how these factors impact your currency is key to keeping your capital safe from risks.
Practical lessons for savvy investors
So, what do all these factors teach us about global currency rates and investing strategies? The key lies in proper preparations and anticipation. Monitoring macro trends, policy announcements, and major geopolitical and political developments is critical.
Diversify
The number one method which is used by professional investors is diversification. This simply means to spread your risks across a basket of assets. By not investing all your capital in one instrument, you can mitigate risks. If one asset experiences a loss, other ones will counter it with returns. Building a diversified portfolio is key to properly diversifying. For example: divide your capital to buy stocks, commodities, currencies, and cryptos so that if one fails to perform, others will counter it. This ensures a stable income without unnecessary losses in the long run.
Hedge
Forex options and ETFs are great hedging assets. Forex options let investors lock in an exchange rate for a future date, which is very useful if you expect volatility but want stability. Currency ETFs, on the other hand, track specific currencies or a basket of currencies and allow easy trading or protection without trading forex directly, but they are still risky.
Monitor the economic calendar
Economic calendar is a free online tool that aggregates important macroeconomic news data such as interest rate decisions, CPI, inflation, employment rates, central bank announcements and speeches, and other crucial information. By monitoring them, investors can always know when important news data will be released, and they can postpone their investment decisions to avoid volatile times and only invest after the main trend is determined.
Features
The Canadian Dollar is on a slow decline. Should you save in euros or US dollars instead?
The Canadian dollar has been losing its value against the dollar this year. For Canadians, this raises a simple question: if your CAD is losing ground, is it better to move savings into euros or U.S. dollars, especially bonds, stocks, or a carry-trade strategy? Carry-trade strategy in this context means to borrow in CAD and invest it in the USA or the EU zone. This is a complex matter, and to understand where the CAD is, how attractive other currencies might be, we need to analyze these currencies more deeply. Below, we will walk you through the data, practical costs, and risks so you can reach a usable conclusion after reading this guide.
Quick snapshot – What the markets say right now
Recently, the Canadian dollar has hit multi-month lows due to weaker oil prices and a post-Fed (U.S. Federal Reserve) market reaction (which raised the rates, making the CAD weaker against the dollar). Canada’s central bank has cut its policy rate to 2.25%, while the Fed’s fund rate remains notably higher at about 3.75-4%. The ECB (European Central Bank) main interest rates are lower than the Fed’s and near the low-to-mid 2% range. While the Euro currency to USD rates remain mostly predictable, due to higher US bond yield rates, the EUR remains stronger, still. The U.S. 10-year Treasuries are around 4.1%, Canada’s 10-year near 3.2%, and Germany’s 10-year around 2.7%, meaning that today the USD-denominated bonds have the highest nominal yield among the three. As a result, the dollar seems much more attractive when it comes to bond yields and stocks.
Bonds – Which currency is the best for fixed income?
The short answer is: USD bonds. When it comes to nominal yield alone, US bonds beat almost all other competitors. U.S. government bond yields (10-year) are noticeably higher than Canadian and German/Eurozone bond yields right now. As a result, US bond buyers have more income potential than Canada and the EU. Euro-area core yields are lower, meaning they are paying less than the USA.
However, nominal yield does not mean it is guaranteed real return, and metrics like inflation, currency rates, and hedging costs can impact potential returns directly. If you buy USD bonds but the dollar falls against the CAD, currency losses will most likely wipe out the higher yield rate. If the Fed lowers its rates, it will make the dollar weaker against the CAD and EUR.
Another challenge is that, if you live and spend in Canada, you are using CAD, and when exchanging it for dollars, you get exposed to foreign currency rate risks, which must not be underestimated.
Stocks – Euro or dollar?
Both the EUR and USD have their advantages. USD has strong liquidity and strong long-term performance, while EUR equities offer valuation opportunities and recent relative strength.
Why USD?
The U.S. market remains the most liquid stock market with strong earnings for many tech and large companies. This makes USD stocks very attractive for long-term-oriented investors. S&P has been rising historically, and even after crashes, it often recovers its value relatively quickly.
Why EUR?
European indexes have performed well this year and in many cases cost less than their U.S. counterparts. While cheaper does not always mean better, these indexes still have some growth potential. Some major banks in the EU zone, together with industries, have recovered strongly with a recent focus on military manufacturing, making many EU stocks very attractive, together with local indexes.
However, here is a caveat: if you are using CAD daily and it loses its value against the euro, the returns from euro holdings might shrink, exposing you to greater currency risks.
Carry-trade analysis – Is it viable to borrow CAD and invest it in USD or EUR?
The basic promise of carry-trade is simple yet powerful: you borrow cheaper currency and invest it in currencies with higher yields. In our case, is it lucrative to borrow in CAD and invest in either EUR or USD? To answer this question, we need to look at numbers. BoC policy rate is 2.25%, Fed funds from 3.75%, U.S 10-yr is 4.1%, Canada 10-yr is 3.2%. If we deduct Canadian rates from the U.S. rates, we get around 1.8% positive before costs. So, in theory, it could be lucrative to invest CAD in USD assets using a carry trade. Since the ECB has around 2%, it is not profitable to use a carry-trade strategy for the euro.
The bottom line
While the CAD has been weakening lately, it is still not cheap enough to naively invest in USD or EUR. However, if you want a pure yield and can tolerate foreign exchange rate risks, USD bonds are more attractive today. When it comes to stocks, USD equities provide stable and liquid markets. If you want valuation potential and diversification, then euro equities have become more attractive this year. When it comes to carry-trade strategies, the USD remains more lucrative than the euro, but on paper, traders and investors should evaluate all the risks and costs before investing in any currency.
In the end, Canadians who have CAD for their daily costs should be careful when trying to get exposure to other markets. US bonds, US stocks, US carry-trade, and EU stocks remain attractive choices for experienced investors.
Features
Why Reading Online Reviews Matters Before Making a Purchase
People usually pause before purchasing to read reviews from other customers. It’s become part of everyday online life, a quick way to see how something really performs before making a decision. According to the Pew Research Center, most internet users read reviews to get a better idea of what they’re buying. The feedback from actual users becomes more reliable than marketing statements because it comes from everyday consumers instead of sales-oriented corporate messages.
Reading reviews also helps spot patterns. If the same comment, good or bad, appears again and again, it usually means there’s truth to it. People now use this collective feedback as their main method to evaluate online products and services for quality and reliability.
When There Are Too Many Options, Reviews Narrow the Field
Shopping online can be overwhelming and a bit of an adventure. There are always more options than anyone needs, hundreds of gadgets, countless household tools, endless entertainment subscriptions. All listings present themselves as excellent value propositions with operational excellence, yet it remains a bit of a challenge when it comes to verifying which ones deliver actual results.
Reviews become useful at this point. Real users provide information about product details, which marketing content fails to show, by sharing their experiences about delivery speed and setup ease and product durability after several months of use. The product details show its operational behavior when used in regular business activities.
Users tend to begin with reviews. For instance, a tech product might have amazing packaging but fall short on battery life or integration. Maybe a new game or casino platform might sound promising, and reviews on trusted choices can confirm whether it includes flexible payment options, a wide content library, and responsive support. When feedback keeps mentioning strong points like clear instructions or helpful customer service, it shows consistency. The product or service delivers its expected results because customers have personally seen its performance.
Reviews Build Faith Through Shared Experience
Reviews gain their strength from the emotional bonds which readers find with each other. Reading about someone else’s experience feels familiar, even if you don’t know them. It’s basic word-of-mouth marketing, like receiving recommendations from a neighbor who has already purchased the item you are considering.
This shared experience has built an informal community of online voices. People rely less on what a brand claims and more on what other users notice. When different reviewers mention similar strengths or small frustrations, it adds authenticity. The story becomes more believable.
Reviews show what other users have experienced, but they do not offer any guidance about what to do. This type of his collective info turns into an important part of how people build trust online. It’s a small thing, but it makes a big difference in how confident we feel about the choices we make.
Balanced Feedback Feels More Honest
A perfect score does not prove that something lacks any imperfections. A combination of positive and less-than-perfect feedback creates a more authentic impression. Small complaints about packaging or delivery delays make glowing reviews sound real. A recent study showed that participants answered honestly instead of trying to make their responses attractive to others.
Most readers know that nothing works flawlessly all the time. People look for reviews which provide both positive and negative aspects because they want to find balanced opinions. Customers can establish realistic purchase expectations through combined information which they can apply before buying. Review systems maintain their value because reviewers maintain honesty in their assessments.
Why Recency and Volume Matter
The best reviews and product ratings are the ones written recently. They reflect how a product or service performs right now, not how it worked a year ago. Things change, materials, delivery services, and even the way companies handle support.
A steady flow of new reviews suggests consistency. When lots of people share their experiences over time, patterns appear. Those patterns tell readers what’s typical, not just what’s possible. It’s the difference between one person’s lucky experience and a reliable average that others can count on.
Quantity matters too. Ten balanced reviews from this month will usually tell more than a single five-star comment from last summer. Together, recency and volume create a clear picture of reliability and quality without relying on assumptions.
Recognising Genuine Reviews
Not every review online is authentic, real, and written by a consumer. Some are written by automated accounts or people hired to post positive comments. Real feedback tends to sound natural and personal. It might mention something specific like the texture of a fabric, how easy the setup was, or whether support staff replied quickly.
Authentic reviews vary in tone and detail. Some are short, others long, some are full of small observations. That mix of styles feels human. On the other hand, copied or fake reviews usually repeat the same phrases or sound overly polished.
Many websites now try to identify and label suspicious posts, but readers can also help by paying attention to repetition, timing, and tone. A quick scan across different platforms usually reveals what’s genuine and what’s not.
Reading Smarter in the Online Marketplace
Reviews have become a solid foundation for how people make decisions online. They give an honest view of how something performs beyond what’s written on the label. Every comment, short or long, adds another piece to the puzzle.
More than that, reviews show how businesses handle problems, how quickly they respond, and whether they follow through on promises. They offer accountability in a world where shoppers and sellers rarely meet face to face.
Reading a handful of reviews won’t guarantee a perfect experience, but it provides helpful context. It shows what’s typical and helps people make choices with more confidence. In an online world full of noise, reviews remain one of the easiest and most reliable ways to learn from others.