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Satchu's Rich Wrap-Up
Friday 16th of October 2015

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The Latest Daily PodCast can be found here on the Front Page of the site


Macro Thoughts

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Greetings from the Pool Side Borana Lodge

“What goes around may come around, but it never ends up exactly the
same place, you ever notice? Like a record on a turntable, all it
takes is one groove’s difference and the universe can be on into a
whole [a]nother song.”

Hannah and I will be in the Laikipia Plateau by the time you receive this.

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Laikipia Plateau, Rift Valley, Kenya.

Laikipia Plateau Footprint Travel Guides

Laikipia Plateau has only recently been recognized as a wildlife area
in its own right, and this spectacular region is considered the
gateway to Kenya's wild northern frontier country. The plateau covers
an area of 9723 sq km - roughly half the size of Wales in the UK.
Altitudes range from 1700 to 2600 m above sea level. Wild and sparsely
populated, much of Laikipia is covered by large privately owned
ranches. These ranches cover a wide range of landscapes, and the
plateau is dominated by acacia bushland with large areas of open
grasslands to the north and south of the district, and dense olive and
cedar forests to the east. It is, without doubt, Kenya's greatest
conservation success story over the last 15 years or so; an area of
beautiful wilderness, where protected game roams freely and safely,
while preserving traditional farming methods and ways of life.

@SirikoiLodge A Helicopter Ride to Mount Ololokwe for Breakfast with
@TropicAirKenya [Flying over Laikipia]

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President Barack Obama has confirmed plans to extend the US military presence in Afghanistan beyond 2016, in a shift in policy. BBC
Law & Politics


The Danger of the Taliban running the US and its Allies out of town was real

The risk of a Jimmy Carter Tehran redux too elevated.

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War Afghanistan
Law & Politics

“Like us many have spoken over this spring, but they were gone in the
twinkling of an eye./ We conquered the world with bravery and might,
but we did not take it with us to the grave.”

Early in his travels Babur, referencing a king from the Shahnama,
carves on a rock: “Like us many have spoken over this spring, but they
were gone in the twinkling of an eye./ We conquered the world with
bravery and might, but we did not take it with us to the grave.”

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DRONES ARE A TOOL, not a policy. The policy is assassination.
Law & Politics

From his first days as commander in chief, the drone has been
President Barack Obama’s weapon of choice, used by the military and
the CIA to hunt down and kill the people his administration has deemed
— through secretive processes, without indictment or trial — worthy of
execution. There has been intense focus on the technology of remote
killing, but that often serves as a surrogate for what should be a
broader examination of the state’s power over life and death.

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What Do We Really Know About Osama bin Laden’s Death? New York Times Magazine
Law & Politics

This irresistible story would be told in many different forms in the
months and years that followed. Bowden’s was one of several books, but
there were also countless newspaper articles, magazine features,
television news programs and ultimately the 2012 movie ‘‘Zero Dark
Thirty,’’ which billed itself as the narrative of ‘‘the Greatest
Manhunt in History.’’ In this sense, the killing of bin Laden was not
only a victory for the U.S. military but also for the American
storytelling machine, which kicked into high gear pretty much the
moment the terrorist leader’s dead body hit the floor.

Hersh was calling to ask about the photographs of bin Laden’s burial
at sea — carried out, the U.S. government said, in accordance with
Islamic custom — that Bowden had described in detail at the end of
‘‘The Finish,’’ as well as in an adaptation from the book that
appeared in Vanity Fair. ‘‘One frame shows the body wrapped in a
weighted shroud,’’ Bowden had written. ‘‘The next shows it lying
diagonally on a chute, feet overboard. In the next frame, the body is
hitting the water. In the next it is visible just below the surface,
ripples spreading outward. In the last frame there are only circular
ripples on the surface. The mortal remains of Osama bin Laden were
gone for good.’’

Hersh wanted to know: Had Bowden actually seen those photos?

Bowden told Hersh that he had not. He explained that they were
described to him by someone who had.

Hersh said the photographs didn’t exist. Indeed, he went on, the
entire narrative of how the United States hunted down and killed bin
Laden was a fabrication. He told Bowden that he was getting ready to
publish the real story of what happened in Abbottabad.

According to Hersh’s version, then, the daring raid wasn’t especially
daring. The Pakistanis allowed the U.S. helicopters into their
airspace and cleared out the guards at the compound before the SEALs
arrived. Hersh’s sources told him the United States and Pakistani
intelligence officials agreed that Obama would wait a week before
announcing that bin Laden had been killed in a ‘‘drone strike
somewhere in the mountains on the Pakistan/Afghanistan border.’’ But
the president was forced to go public right away, because the crash
and subsequent destruction of the Black Hawk — among the rare facts in
the official story that Hersh does not dispute — were going to make it
impossible to keep the operation under wraps.

As if those assertions weren’t significant enough, Hersh went on to
make some even wilder claims. He wrote, for instance, that bin Laden
had not been given a proper Islamic burial at sea; the SEALs threw his
remains out of their helicopter.

‘‘I love the notion that the government isn’t riddled with secrecy,’’
Hersh told me toward the end of our long day together. ‘‘Are you
kidding me? They keep more secrets than you can possibly think.
There’s stuff going on right now that I know about — amazing stuff
that’s going on. I’ll write about it when I can. There’s stuff going
out right now, amazing stuff in the Middle East. Are you kidding me?
Of course there is. Of course there is.’’

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Al Qaeda’s Second Fatwa BY ADMIN February 23, 1998
Law & Politics

The Arabian Peninsula has never — since God made it flat, created its
desert, and encircled it with seas — been stormed by any forces like
the crusader armies spreading in it like locusts, eating its riches
and wiping out its plantations.

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New Tally Shows at Least 1,621 Killed in Saudi Hajj Tragedy
Law & Politics

The toll in the deadliest tragedy to ever strike the annual hajj
pilgrimage rose Wednesday to at least 1,621 people killed, a new tally
showed, as hundreds still reportedly remain missing.

The Associated Press count is more than double Saudi Arabia's official
tally of 769 killed and 934 injured in the Sept. 24 disaster in Mina,
a few miles from the holy city of Mecca. Saudi officials have not
updated their tally since Sept. 26.

Officials in the Saudi health and interior ministries have not
responded to recent AP requests for comment. On Sunday, Saudi Prince
Turki al-Faisal rejected the idea of sharing the administration of the
hajj with other Muslim nations, raised by regional rival Iran, saying
Riyadh considers it both "a matter of sovereignty" and a "privilege."

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.1362
Dollar Index 94.61
Japan Yen 119.15
Swiss Franc 0.9547
Pound 1.5453
Aussie 0.7274
India Rupee 64.965
South Korea Won 1132.35
Brazil Real 3.7949
Egypt Pound 7.9301
South Africa Rand 13.1169

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Rich, rose-petal-scented 2009 ($7,500 to 10,000) was the other brilliant vintage, dense and velvety.

To get a sense of Margaux’s recent history, you could go for Lot 131
or 132, each of which includes 35 bottles from vintages 1978 to 2012
($18,000 to $35,000). And the ultimate is the legendary 1900 ($10,000
to $15,000 for one bottle), which was still vivid and gorgeous when I
reveled in it 15 years ago.

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Africa is complicated—here are the wealth numbers that prove it, including some major surprises

Credit Suisse Group AG this week released its annual global wealth
report and the change in recent years of the continent’s fortunes is
not a myth—the total wealth in private hands is estimated at $2.6
trillion—from $1.1 trillion in 2000.

Sharing that out among the continent’s 572 million adults, those aged
20 and over, leaves each with a theoretical wealth of $4,356, Credit
Suisse, the world’s fourth largest wealth manager said.

Malawi saw the steepest decline in wealth per adult, shrinking 53.3%
to $169, from $362 in 2000, with total wealth estimated at $1 billion.
The southern African country has struggled with governance challenges
it can ill afford given its weak economic base, and remains heavily
dependent on aid. Its current wealth of $169 puts it at the same level
as DR Congo was in 2000, at the height of the Second Congo War

Madagascar, the Indian Ocean island that has in recent years struggled
with recurrent political upheaval, also saw its private wealth halve
in the 15 years since 2000, the period the report covers.

In 2000, the island’s wealth per adult was $682, but by mid this year
this number had shrunk to just $340, with total wealth estimated at $4
billion. By contrast, the island of Seychelles had its wealth per
adult estimated at $58,651—by far the highest on the continent.

While the reduction in private wealth in Libya and Egypt is perhaps
understandable due to their revolutions, it comes from a strong
base—the former, seeking a post-Gaddafi order, has seen theoretical
individual fortunes shrink from nearly $34,000 in 2000 to the current
$28,628—which places it third on the continent just behind Seychelles
and Mauritius.

But the reduction in private wealth in Ghana is rather surprising,
coming off a decade when it became an oil exporter. In 2000, the west
African country’s wealth per adult was estimated at $1,098; fifteen
years later this is at $773, a reduction of nearly 30%.

On the other end of the scale are countries that have seen private
wealth expand rapidly over the past 15 years. Equatorial Guinea grew
each citizen’s individual fortune by a staggering 1,318%. In 2000, an
Equatoguinean adult was worth $1,160, now the same citizen would count
his net assets at $16,450.

Angola, sub-Saharan Africa’s second largest crude exporter, saw
private wealth expand 584% to the current $15,302.

A surprise package is Eritrea, for years isolated internationally but
which grew individual private wealth 486%, albeit from a low base of
just over $400 in 2000.

Other countries—Liberia, Lesotho, Zimbabwe and both the Congos also
grew private wealth by over 200% in that period, but they also started
from a weak base. Of note is Seychelles, which achieved a growth in
individual fortunes of 70%, from an already strong starting point of
more than $34,000 in 2000.

According to the report, the continent has 126,000 people worth over a
million dollars (compared to North America’s 16.6 million) or just
0.4% of the world’s nearly 34 million dollar millionaires.

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Angola's economy not in recession, govt borrows $6 bln from Chinese

Vicente also said Angola expected foreign investment flows over the
next two years were expected to reach $10 billion.

"Generally speaking the macroeconomic situation is stable. The good
news is that there will not be a recession," Vicente said.

The reasons for the absence of Dos Santos, in power since 1979, were
not known but the chairman of Angola's parliament said: "We wait for
the president to recover as quickly as possible."


21-SEP-2015 In Angola, President Eduardo Dos Santos is leveraging the
balance sheet, drawing down loans to make up the short fall and
stamping down hard on any whisper of dissent.

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Angola's economy will grow 4 percent this year, down from a previous target of 6 percent as low oil prices hit sub-Saharan Africa's third largest economy, Vice President Manuel Vincente told parliament on Thursday.

Vincente said Angola's debt-to-GDP ratio would be around 46 percent
this year, compared to around 32 percent last year. Africa's second
biggest oil exporter has borrowed heavily from China to cover lower
oil revenues.

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A 65.72 carat Tsavorite Garnet – a verdant green gemstone the size of a quail’s egg – is expected to sell for $1 million at Heritage Auctions Photo: Heritage Auctions

It took three generations of the Taylor family five decades to put
together the Rainbow of Africa Collection.

For years it was held in a private museum in Kent, which could be
visited by appointment only.

Now the stunning array of stones will draw enthusiasts to the sale
being held by Heritage Auctions in New York on Thursday.

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Zimbabwe to approach World Bank, IMF for new loans: fin min

"What we agreed with the three multilateral institutions, is that we
start now a country financing programme," Chinamasa said, without
giving details on the amount of funding Zimbabwe was seeking.

Chinamasa said it would first be borrowing to help pay the $1.86
billion in arrears it owes the three multilateral institutions, which
would help reduce interest costs and avoid default penalties.

Zimbabwe will use drawing rights it has with the IMF to clear the $110
million in arrears it owes the fund, while loans from the African
Export-Import bank would be used to clear $601 million in arrears with
the AfDB.

The southern African country will raise cheaper loan capital to clear
$1.15 billion in arrears to the World Bank.

"You are substituting one debt with another but with a different time
frame and a different interest rate and then you don’t suffer the
penalties," Chinamasa told reporters.

"Much of the debt that we have accumulated with our creditors is
arising from default."

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Kenya: Climate Change Threatens Rights @HRW

The 96-page report, “There Is No Time Left: Climate Change,
Environmental Threats, and Human Rights in Turkana County, Kenya,”
highlights the increased burden facing the government of Kenya to
ensure access to water, food, health, and security in the Turkana
region. The region also presents an example of how climate change,
with rising temperatures and shifting precipitation patterns,
disproportionately affects already vulnerable people, especially in
countries with limited resources and fragile ecosystems.

“The combination of climate change, large-scale development, and
population growth poses an urgent threat to the people of the Turkana
region,” said Joseph Amon, health and human rights director at Human
Rights Watch. “Lake Turkana is in danger of disappearing, and the
health and livelihood of the indigenous peoples of the region along
with it.”

Between 1967 and 2012, maximum and minimum average temperatures in
Turkana County, in Kenya’s northwest corner near the border with
Ethiopia, rose between 2 and 3°C (3.6 to 5.4°F), according to data
from the meteorological station in Turkana’s capital. Rainfall
patterns seem to have changed, with the long rainy season becoming
shorter and drier and the short rainy season becoming longer and
wetter. Insecurity and conflict in the region are expected to get
worse as grazing lands decrease.

At the same time, hydroelectric projects and irrigated sugar
plantations in Ethiopia’s lower Omo River Valley threaten to vastly
reduce the water levels in Lake Turkana, the world largest desert
lake, and the source of livelihood for 300,000 Turkana residents. Some
experts forecast that the lake may recede into two small pools,
devastating fish stocks.

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Lake Turkana formerly known as Lake Rudolf

Lake Turkana (/tɜrˈkɑːnə/ or /tɜrˈkænə/), formerly known as Lake
Rudolf, is a lake in the Kenyan Rift Valley, in northern Kenya, with
its far northern end crossing into Ethiopia.[1] It is the world's
largest permanent desert lake and the world's largest alkaline lake.
By volume it is the world's fourth-largest salt lake[citation needed]
after the Caspian Sea, Issyk-Kul, and Lake Van (passing the shrinking
South Aral Sea), and among all lakes it ranks 24th. The water is
potable, but not palatable. It supports a rich lacustrine wildlife.
The climate is hot and very dry.

The rocks of the surrounding area are predominantly volcanic. Central
Island is an active volcano, emitting vapour. Outcrops and rocky
shores are found on the east and south shores of the lake, while
dunes, spits and flats are on the west and north, at a lower

On-shore and off-shore winds can be extremely strong, as the lake
warms and cools more slowly than the land. Sudden, violent storms are
frequent. Three rivers (the Omo, Turkwel and Kerio) flow into the
lake, but lacking outflow, its only water loss is by evaporation. Lake
volume and dimensions are variable. For example, its level fell by 10
metres between 1975 and 1993.[2]

Due to temperature, aridity and geographic inaccessibility, the lake
retains its wild character. Nile crocodiles are found in great
abundance on the flats. The rocky shores are home to scorpions and
carpet vipers. Although the lake and its environs have been popular
for expeditions of every sort under the tutelage of guides, rangers
and experienced persons, they certainly must be considered hazardous
for unguided tourists.

Lake Turkana National Parks are now listed as a UNESCO World Heritage
Site. Sibiloi National Park lies on the lake's eastern shore, while
Central Island National Park and South Island National Park lie in the
lake. Both are known for their crocodiles.

The Lake Turkana area is regarded by many anthropologists as the
cradle[citation needed] of humankind due to the abundance of hominid

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Africa | Kenya, Lake Turkana, Eliye Sprinjgs. Before sunrise …

An evolutionary perspective of our place in the history of the earth
reminds us that Homo sapiens sapiens has occupied the planet for the
tiniest fraction of that planet's four and a half thousand million
years of existence. In many ways we are a biological accident, the
product of countless propitious circumstances. As we peer back through
the fossil record, through layer upon layer of long-extinct species,
many of which thrived far longer than the human species is ever likely
to do, we are reminded of our mortality as a species. There is no law
that declares the human animal to be different, as seen in this broad
biological perspective, from any other animal. There is no law that
declares the human species to be immortal.  Richard Leakey

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Kenya Shilling versus The Dollar Live ForexPros 102.7 [Target sub 100.00]

Nairobi All Share Bloomberg -16.69% 2015 [Year lows]

Nairobi ^NSE20 Bloomberg -24.34% in 2015 [and at multi year Lows]

#Mindspeak Presentation with Pradeep Paunrana CEO ARM Cement Ltd
@ArmCement1 @YouTube

#Mindspeak Q AND A Session with @PradeepPaunrana CEO @ArmCement1 @YouTube

Interview with Albert Mugo Managing Director & CEO KenGen Ltd
#KenGenProfits2015 RICH TV

Every Listed Share can be interrogated here

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by Aly Khan Satchu (www.rich.co.ke)
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October 2015

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