These terms of business together with New World Order Research’s invoice (or other document setting out our agreed fees) form the agreement (“Agreement”) between you, the subscriber and New World Order Research Limited (Registered no. 12288821) (“NWORL”) whose registered office is at the address below under Notices, for the provision of research services to you by NWORL .

This Agreement is dated as of the date of the card payment via the website for a period of one year.

No amendments shall be made to the Agreement without the prior written agreement of the parties.


“Capital Dialectics” is a monthly publication, distributed exclusively to professional investors who have subscribed to the service.

“Capital Dialectics” is published 12 times a year around the middle of each month.

“Capital Dialectics” is authored by Stewart Paterson and is published by New World Order Research Ltd (NWORL).

“Capital Dialectics” focuses on the macroeconomic, monetary and geopolitical drivers of capital markets.

“Capital Dialectics” aims to provide substantive research to help professional investors but is not, and should not be construed as offering, investment advice.

At the discretion of NWORL, from time to time, newsletters may be published for marketing purposes and made available to professional investors who are not yet subscribers.

The “Capital Dialectics Newsletter” is to raise awareness of our subscription service and is designed to be a “minor non-monetary benefit” under European MiFID2 regulations.

In addition, at the discretion of NWORL, additional publications may from time to time be made available to subscribers only.

Research provided by NWORL will usually be delivered by email.

Research provided by NWORL will use sources that can reasonably be believed to be reliable.

Research provided by NWORL will comply with applicable regulations.


A 12-month subscription to Capital Dialectics costs USD2,500 per person per year (plus VAT where applicable).

A firm-wide subscription to Capital Dialectics costs USD10,000 per year (plus VAT where applicable). The firm-wide subscription is for up to 10 recipients. Details of recipients should be supplied by email to [email protected], cc: [email protected].

Direct contact with the author is not included in the subscription price, but the author will attempt to answer questions sent by email.


Neither party may claim expenses of the other party without the prior agreement in writing of the other party.


NWOR will indemnify Client for any losses, claims and damages incurred by Client in connection with the services provided by NWOR but only to the extent that such losses, claims and damages arise directly from NWOR’s negligence, fraud or willful default.


Both parties hereby acknowledge, understand and agree that NWORL is an independent contractor. Nothing herein, explicitly or implicitly, shall be deemed or construed to create a joint venture, partnership, agency, or employee/employer relationship between the parties for any purpose.


This Agreement may be executed in any number of counterparts each of which shall be an original but so that such counterparts shall constitute one and the same Agreement.


All notices required or permitted to be given or delivered under this Agreement shall be in writing and shall be delivered to the following address, whether by mail or email:

New World Order Research Limited

Dickhurst House

Rodgate Lane

Surrey GU27 2EW, UK

Attn: Stewart Paterson

Receipt will be taken to be 2 days after the date of postmark, or on the date of email.


This Agreement is governed by the laws of England and Wales, whose courts have non-exclusive jurisdiction to determine any dispute arising from this Agreement.