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Satchu's Rich Wrap-Up
 
 
Thursday 09th of February 2017
 
Morning
Africa

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very much looking forward to hosting H.E. John Dramani Mahama, Former
President of the Republic of Ghana (2012- 2017) at #Mindspeak This
Saturday

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The Inspiration for #Mindspeak came via these words which were written at the Entrance to the Mevlana's Mausoleum in Konya which I visited
Africa


“Come, come, whoever you are. Wanderer, worshiper, lover of leaving.
It doesn't matter. Ours is not a caravan of despair. come, even if you
have broken your vows a thousand times. Come, yet again , come ,
come.”

Macro Thoughts

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A conversation with @cgtnafrica's @Ramah_Nyang about the Naira, Crude Oil #Africa Egypt @YouTube
Africa


Home Thoughts


But it is a curve each of them feels, unmistakably. It is the
parabola. They must have guessed, once or twice — guessed and refused
to believe — that everything, always, collectively, had been moving
toward that purified shape latent in the sky, that shape of no
surprise, no second chance, no return. Yet they do move forever under
it, reserved for its own black-and-white bad news certainly as if it
were the rainbow, and they its children.

read more


Poems by Roberto Bolano
Africa


31. I dreamt that Earth was finished. And the only

human being to contemplate the end was Franz

Kafka. In heaven, the Titans were fighting to the

death. From a wrought-iron seat in Central Park,

Kafka was watching the world burn.


32. I dreamt I was dreaming and I came home

too late. In my bed I found Mário de Sá-Carneiro

sleeping with my first love. When I uncovered them

I found they were dead and, biting my lips till they

bled, I went back to the streets.


33. I dreamt that Anacreon was building his castle

on the top of a barren hill and then destroying it.


34. I dreamt I was a really old Latin American

detective. I lived in New York and Mark Twain

was hiring me to save the life of someone without

a face. “It’s going to be a damn tough case, Mr.

Twain,” I told him.


35. I dreamt I was falling in love with Alice Sheldon.

She didn’t want me. So I tried getting myself killed

on three continents. Years passed. Finally, when I

was really old, she appeared on the other end of the

promenade in New York and with signals (like the

ones they use on aircraft carriers to help the pilots

land) she told me she’d always loved me.


“If we isolate the stray thought, the passing thought," he said, "the
thought whose origin is unfathomable, then we begin to understand that
we are routinely deranged, everyday crazy.” ― Don DeLillo, The Angel
Esmeralda

“This spot was so close to perfect we would not even want to tell
ourselves how lucky we were, having been delivered to it. The best of
new places had to be protected from our own cries of delight. We would
hold the words for weeks or months, for the soft evening when a stray
remark would set us to recollecting. I guess we believed, together,
that the wrong voice can obliterate a landscape.” ― Don DeLillo, The
Angel Esmeralda

“All human existence is a trick of light.” ― Don DeLillo, The Angel Esmeralda

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Somalis greet 'new dawn' as US dual national wins presidency
Africa


Celebrations have erupted on the streets of Somalia after
parliamentarians elected a new president, with crowds chanting songs
and firing automatic weapons into the night sky.

The election of Mohamed Abdullahi Mohamed, a 55-year-old former prime
minister and dual US-Somali national with a reputation for
independence and competence, has raised the hopes of millions of
people in the poor and violent east African state.

Conclusions


A Trend-Change is at hand.

read more




A Short History of the Trump Family Sidney Blumenthal @LRB
Law & Politics


The most enduring blight left behind by Donald Trump, long after he
has smashed things up, will be the pile of books devoted to trying to
make sense of him. It will grow after investigative journalists have
spent years diving for hidden records, exploring subterranean
corporations and foreign partners but never reaching the dark ocean
bottom. It will continue after political scientists have trekked
through mountain ranges of survey data seeking the precise source of
his magnetic attraction for the aggrieved white lower-middle and
working classes. It will outlast the pundits holding forth on TV,
collecting lecture fees and cranking out bestsellers that retail
inside dope gleaned, single-sourced and second-hand, from somewhere
near the elevators of Trump Tower. It will not be stemmed even after
the memoirs of Trump’s associates, unreliable narrators in the spirit
of their leader, have been removed from the remainder bins in used
bookstores.

A week after the inauguration, Nineteen Eighty-Four and The Origins of
Totalitarianism were number one and number 36 respectively on the US
Amazon bestseller list, but the true-life Donald J. Trump story has
more to do with what Scott Fitzgerald called ‘foul dust’ than with
ideas or ideology. Reckoning with Trump means descending into the
place that made him. What he represents, above all, is the triumph of
an underworld of predators, hustlers, mobsters, clubhouse politicians
and tabloid sleaze that festered in a corner of New York City, a
vindication of his mentor, the Mafia lawyer Roy Cohn, a figure unknown
to the vast majority of enthusiasts who jammed Trump’s rallies and
hailed him as the authentic voice of the people.

The notion of a Trump literature begins, appropriately, with an
imaginary novel, 1999: Casinos of the Third Reich, contrived by Kurt
Andersen, an editor at Spy, a New York magazine of the 1980s and
1990s. Over several months in late 1989 and early 1990, Andersen kept
referring to the non-existent Casinos of the Third Reich and its
implausible protagonist, Donald Trump, whose narcissistic
exhibitionism offered a never-ending source of unintentional
self-satire. ‘Who’s my toughest competitor – if not in content, only
in style?’ he asked. ‘Prince Charles,’ he answered. ‘I’m thinking of
becoming an entertainer,’ he also said. ‘Liza Minnelli gets $75,000 a
night to sing, and I’m really curious as to how I would do.’ ‘Yes,’
Andersen wrote, ‘in the blockbuster 1999: Casinos of the Third Reich,
it’s nobleman-lounge singer Donald Trump!’ Andersen simply quoted
Trump, referred to Casinos of the Third Reich and sat back. Trump did
all the work. The fabulous novel had no plot and the protagonist’s
character didn’t develop – just like in real life. Spy assumed its
readers were in on the joke about the ‘short-fingered vulgarian’.
(Marco Rubio flung Spy’s slight against Trump in a debate, without
noting its provenance in the defunct magazine, if indeed he knew it.
Trump heatedly replied: ‘If they’re small something else must be
small. I guarantee you there’s no problem.’ The Trump spectacle often
ends with insult imitating satire.)

Fred Trump, Donald’s father, was a king of Queens; the Donald became a
joker in Manhattan. In search of fame and greater fortune in the big
city, he set out from the family mansion with its 23 rooms, nine
bathrooms and, at the front, four white columns adorned with a
confected family crest. A Cadillac and a Rolls-Royce were parked in
the driveway, guarded by two cast-iron jockeys. Even in Queens, it was
a world apart. ‘“Be a killer,”’ Fred Trump, ‘who ruled all of us with
a steel will’, told him. Then he said: ‘“You are a king.”’

Donald Trump’s universally disparaged image in Manhattan attained
skyscraper heights at the turn of the 1990s, after his flamboyantly
bungled real-estate projects, tabloid hijinks, manic club-hopping,
flagrant Mob associations, cruel wife-dumping, outrageous defence of
his housing discrimination, not to mention his purchase of screaming
full-page newspaper ads demanding the death penalty for black youths
accused of rape, the Central Park Five, who later turned out to have
been innocent. ‘The banks call me all the time,’ he boasted. ‘Can we
loan you money, can we this, can we that.’ But Trump had wildly run up
$3 billion in debt. Now his grandiose Trump Shuttle airline crashed
and burned. He lost his crown jewel, the Plaza Hotel. (‘They say the
Plaza is worth $400 million? Trump says it’s worth $800 million,’ said
Trump. ‘Who the hell knows what it is worth?’) His casino empire
across the Hudson River in Atlantic City, his Taj Mahal, went belly
up. (‘The most spectacular hotel-casino anywhere in the world’.) He
declared bankruptcy four times in order to stiff his contractors and
workers. Every financial house in the city spurned his plea to extend
his loans. Rather than acceding to his childish demands after meetings
at which he brandished newspaper clippings about his antics instead of
financial papers, the banks put the profligate Trump on an allowance
like an irresponsible adolescent. He had to sell virtually everything,
including his yacht, the Trump Princess, which he had purchased from
the shadowy Saudi arms trader Adnan Khashoggi. Trump threatened to sue
a journalist at the Wall Street Journal for accurately reporting his
collapse, one of his many attempts to intimidate the press, and
another technique he learned from Roy Cohn.

Trump’s reality TV shows, The Apprentice and The Celebrity Apprentice,
were fantasy projections of his dominance in the city in whose eyes he
was obviously not the master of the universe. From 2004 to 2015, he
played on TV the persona that he intended Manhattan to worship. Of
course, ‘reality’ in Trump’s reality TV wasn’t real. In every episode
he acted out dramas of control over submissive contestants seeking his
favour, wilting at his denial of it and fawning at his approval. Under
Trump, winning was the road to serfdom. The subtext was pathos, not
only on the part of the supplicants but also in the boss’s trademark
phrase, ‘You’re fired.’ No matter how many people Trump rejected, he
couldn’t force his own acceptance.

If Trump was a ‘captain of industry’, a phrase Veblen popularised,
then the industry was leisure: hotels, casinos, reality TV shows, a
beauty pageant and a wrestling federation. More than a century after
Veblen, the ultimate representative of the leisure class indulged in
an aesthetic of ‘conspicuous waste’ in order to offer himself as an
object of envy and magical thinking. ‘There has always been a display
of wealth and always will be, until the depression comes, which it
always does,’ Trump explained to Playboy. ‘And let me tell you, a
display is a good thing. It shows people that you can be successful.
It can show you a way of life.’ ‘Dynasty,’ he added, ‘did it on TV.’
It was conclusive proof.

His style has been unfailingly kitsch. His penthouse apartment at
Trump Tower is museum-like in its curating of exquisitely tacky taste
in a faux luxe style: marble floors, walls and columns; Louis XIV
chairs with cushions stitched with the Trump coat of arms; gilded
lamps, vases and crown mouldings; ceiling murals with scenes from
Greek mythology (‘If this were on the ceiling of the Sistine Chapel,’
he boasted, ‘it would be very much in place in terms of quality’); a
large copy of a statue of Eros and Psyche; a fake Renoir; coffee-table
books, carefully placed – the ‘Vogue’ Living Book, the ‘Vanity Fair’
Oscar Night Book and a Muhammad Ali tribute book. ‘The Trump style is
“developing-country despot”, rather than European or “evolved
American”,’ Peter York wrote in the Times. ‘It doesn’t even try to get
things “right” – “real” antiques, architecturally correct detailing or
any of that – because, as with DC despots, neither the client nor the
people he wants to impress care about that.’

Trump’s interest in interior decorating exceeds his interest in
paintings. His major acquisitions have been a six-foot-tall portrait
of himself done in five minutes by a little-known ‘speed painter’ and
another portrait that now hangs over the bar at the Champions Bar and
Grill at the Trump National Doral Miami Golf Resort. Both were bought
with funds from the Donald J. Trump Foundation. Another portrait of
himself in a golden glow as a young man in a tennis sweater hangs at
his Mar-a-Lago mansion. He entitled it The Visionary.

‘What preyed on Gatsby,’ the narrator asks himself in Fitzgerald’s
novel, ‘what foul dust floated in the wake of his dreams?’ The
fabulously wealthy Gatsby takes a mansion on Long Island, holds
extravagant parties drawing the swells from Manhattan, and appears to
be the effortless maestro of the scene. He has willed himself into
being. Gatsby is actually Jay Gatz, a poor boy from the plains, in
romantic pursuit of Daisy Buchanan, the upper-class object of his
desire, who once rejected him. He believes he can win her back through
displays of wealth and manners, but she is now married to Tom
Buchanan, an upper-class boor. Trump’s claim to have risen Gatsby-like
is the opposite of Gatsby’s magical self-invention. Gatsby was careful
to maintain the air of the gentleman he wished to be taken for. Trump
is the uncouth son of privilege for whom, as for Tom and Daisy, there
are no consequences for ‘smashing things up’. Trump is Tom Buchanan
farcically playing Gatsby. Gatsby might have appreciated the audacity,
but would have avoided the shabbiness. Both Gatsby and Trump, however,
are characters enthralled by the possibility of recapturing the past
and reshaping it as they imagine it should have been.

What Gatsby and Trump also have in common are gangsters. Gatsby’s
fortune is secretly derived from his bootlegging partnership with
Meyer Wolfsheim, a character based on the mobster Arnold Rothstein,
who fixed the 1919 World Series. Trump’s business has been dependent
almost from the start on real-life racketeers. There was Anthony ‘Fat
Tony’ Salerno, boss of the Genovese crime family, and Paul ‘Big
Paulie’ Castellano, boss of the Gambino crime family, who owned the
company that provided the ready-mix cement for Trump Tower, used in
place of the usual steel girders. There was John Cody, the boss of
Teamsters Local 282, who controlled the cement trucks and was an
associate of the Gambino family. There was Daniel Sullivan, Trump’s
labour ‘consultant’, who in partnership with the Philadelphia crime
boss Nicodemos ‘Nicky’ Scarfo’s financier, sold Trump a property in
Atlantic City that became his casino. There was Salvatore ‘Salvie’
Testa, ‘crown prince’ of the Philadelphia Mob, who sold Trump the site
on which two construction firms owned by Scarfo built the Trump Plaza
and Casino. There was Felix Sater, convicted money launderer for the
Russian Mafia, Trump’s partner in building the Trump SoHo hotel
through the Bayrock Group LLC, which by 2007 had more than $2 billion
in Trump licensed projects and by 2014 was no more. There was Tevfik
Arif, another Trump partner, Bayrock’s chairman, originally from
Kazakhstan. Bayrock’s equity financing came from three Kazakh
billionaires known as ‘the Trio’, who were reported to be engaged in
racketeering, money laundering and other crimes. And so on.​*

There was no art to these deals. Trump’s relationships with the Mob
weren’t just about the quality of cement. In his defence it was said
that doing business with the Mob was inescapable in New York, but the
truth is that there were prominent developers who crusaded against the
sorts of arrangement that Trump routinely made. From beginning to end,
whether Cosa Nostra or the Russian Mafia, Trump has been married to
the Mob.

On New Year’s Eve, President-elect Trump held a party at his
Mar-a-Lago estate at Palm Beach for almost a thousand revellers from
whom he cleared a neat profit. For members of his Mar-a-Lago Golf
Resort, for which he levies a $100,000 entry fee, the price was $525 a
ticket (guests at the hotel paid extra). For that they got to mingle
with celebrities like Sylvester Stallone, who turned down Trump’s
offer to become chairman of the National Endowment for the Arts, and
Joe ‘Morning Joe’ Scarborough, the former Republican congressman
turned TV talk show host. Marjorie Merriweather Post, heiress to the
Post cereal fortune, collector of Russian art, Fabergé eggs and
husbands, built the lavish 126-room estate in 1927. She left her art
to the Hillwood Museum, which had been her Washington DC residence,
the diamond earrings that had belonged to Marie Antoinette and other
pieces of jewellery to the Smithsonian Institution, and Mar-a-Lago to
the US government to serve as a winter White House. Trump snapped it
up in 1985 when the government put the unused but costly property on
the market.

The member of the Trump family who most resembles Michael Corleone is
Ivanka. Her father’s favourite, the ambitious and fashionable
Manhattanite presents herself as an advocate of childcare and climate
change policies, selling herself as the one hope for decency among the
Trumps. While merchandising her dresses, shoes and jewellery she has
achieved a degree of social acceptance in the city. She represents
Donald’s last chance at respectability, but her precarious image
depends finally on repudiation of the father she worships. ‘That’s my
family – that’s not me.’

Roy Cohn, the Mafia lawyer, was more than just the consigliere in
Trump’s story. He was Donald’s mentor, his godfather. If Trump
received an education beyond his two years at Fordham and as a
transfer student at Wharton (‘I’m a smart person. I went to the
Wharton School of Finance’), it was from his guide through the circles
of the Inferno, who conducted masterclasses in malice. Trump was an
apt pupil in aggression. ‘I don’t think I got that from Roy at all,’
Trump told the Washington Post. ‘I think I’ve had a natural instinct
for that.’ He didn’t really need an education in heartlessness, but he
learned the finer points from Cohn. Offering his highest praise, Trump
called him ‘a total genius … he brutalised for you.’

Donald Trump met Roy Cohn at Le Club, a private New York disco, in
1973, when Trump was 27 and had a serious problem. The Justice
Department was suing him and his father for racial discrimination in
their building at 100 Central Park South. ‘My view is tell them to go
to hell,’ Cohn advised, ‘and fight the thing in court.’ From that
moment, Cohn and Trump were inseparable. Cohn recalled that Trump
would phone him more than a dozen times a day. With Cohn as their
attorney the Trumps filed a countersuit against the federal government
for using ‘Gestapo-like tactics’. Their suit was instantly dismissed
and two years later the Trumps settled after being forced to sign a
decree forbidding them from engaging in discriminatory practices.

The Confidence Man: His Masquerade was the last full-length book
Herman Melville published in his lifetime. Moby-Dick had been poorly
received and Melville could no longer scrape by on his writing. A
flat-out failure, he was about to take a job as a clerk in the New
York Customs House. His new book, inspired by a story he read in a
newspaper, takes place on April Fool’s Day, when a mysterious stranger
boards a Mississippi steamboat named the Fidèle. We are a long way
from the Pequod. The confidence man is anything but loyal. He assumes
different guises as he works his way through the passengers, from the
‘cosmopolitan’ to the kindly old lady. To one he sells non-existent
shares in the Black Rapids Coal Company. He inveigles funds for the
imaginary Seminole Widow and Orphan Asylum. He hits up others for
something he calls ‘the World’s Charity’. From yet another he coaxes
money for an investment in ‘a Protean easy chair for invalids’.
Whenever any of his dupes baulks he appeals to their sense of
confidence, understanding that their weakness is their desire for
hope. Written at the nadir of his own hope, Melville masked his
bitterness with satirical humour. The reviews of his plotless and
oblique work were unkind. He withdrew into the Customs House. In The
Raven and the Whale, the critic Perry Miller wrote: ‘The few
contemporaries who examined the book were in no position to see it as,
whatever else it is, a long farewell to national greatness.’ The only
character who escapes the confidence man’s swindle, the only one to
lack confidence, is the steamboat’s barber, who refuses to wield his
scissors without first being paid, and has hung a large sign in his
shop reading: ‘NO TRUST.’

Conclusions


Just Extraordinary

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14 NOV 16 :: Here comes President Trump @TheStarKenya
Law & Politics


Trump was an insurgent candidate and his Make America Great Again
movement similarly an insurgent movement.

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Trump Calls World Leaders... But China's Xi Gets a Letter Bloomberg
Law & Politics


The US State Department is reportedly struggling to keep Donald Trump
on message during calls with foreign leaders.

It came as the US president was alleged to have veered off topic
during a diplomatic exchange with French President François Hollande.

The former real-estate mogul fixated on his personal beliefs that
China, Nato and other international organisations were a drain on the
US, a senior government official told the Politico website.

“It was a difficult conversation, because he talks like he’s speaking
publicly,” the source said. "It's not the usual way heads of state
speak to each other. He speaks with slogans and the conversation was
not completely organised.”

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I ran Clinton's campaign, and I fear Russia is meddling with more than elections Robby Mook
Law & Politics


Robby Mook was Hillary Clinton's 2016 presidential campaign manager

The Russian hacking of the Democratic National Committee (DNC) and
members of Hillary Clinton’s campaign is being treated too much like a
novelty and not enough as a serious and persistent security threat.
The problem becomes more urgent as we see it spread to other
countries.

WikiLeaks, which disseminated stolen DNC documents, announced last
week that it would turn its attention to France, and has released
material relating to presidential candidates François Fillon and
Emmanuel Macron, opponents of Marine Le Pen.

US intelligence agencies found clear links between Wikileaks and the
Russian state; we have to assume Russia will use these to undermine
Vladimir Putin’s arch-nemesis, Angela Merkel, when she faces the
far-right Alternative für Deutschland at the polls in September.

But there’s a deeper dimension to Russia’s actions, which deserves the
free world’s urgent attention: its capacity to silently influence
domestic legislation and policy-making between elections.

With his success in the US last year, Putin has put opponents on
notice that there will be a price to pay for crossing him. Indeed, the
complex infrastructure that Russia built to infect public discourse
with false or stolen information isn’t going anywhere. It can be
unleashed at any time, on any issue, domestic or international.

This came into sharp relief this weekend when President Trump implied
a sort of moral equivalence between the Putin regime and the US, a
stunning reversal of long-standing policy. We are no longer talking
about how to confront Russia, but whether we should confront it at all
– a big win for Putin. Trump and the vice-president, Mike Pence, have
also been frighteningly tentative about whether to maintain sanctions
against Moscow.

What the Russians are doing by stealing documents, spending unlimited
amounts of money and creating and distributing “fake news” has the
potential to corrupt our political system to its core, if it hasn’t
already. If Russia invades the Baltic states, could US assistance to
them die in Congress because elected officials fear Russian
retaliation? It sounds unbelievable, but we saw the GOP mysteriously
change its platform this summer, removing aid to Ukraine – and that
was before Putin proved his influence over the election.

Conclusions

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05-DEC-2016 :: "We have a deviate, Tomahawk."
Law & Politics


However, my starting point is the election of President Donald Trump
because hindsight will surely show that Russia ran a seriously
sophisticated programme of interference, mostly digital. Don DeLillo,
who is a prophetic 21st writer, writes as follows in one of his short
stories:
The specialist is monitoring data on his mission console when a voice
breaks in, “a voice that carried with it a strange and unspecifiable
poignancy”.
He checks in with his flight-dynamics and conceptual- paradigm
officers at Colorado Command:
“We have a deviate, Tomahawk.”
“We copy.  There’s a voice.”
“We have gross oscillation here.”
“ There’s some interference. I have gone redundant but I’m not sure
it’s helping.”
“We are clearing an outframe to locate source.”
“ Thank you, Colorado.”
“It is probably just selective noise. You are negative red on the
step-function quad.”
“It was a voice,” I told them.
“We have just received an affirm on selective noise... We will
correct, Tomahawk. In the meantime, advise you to stay redundant.”
 The voice, in contrast to Colorado’s metallic pidgin, is a melange of
repartee, laughter, and song, with a “quality of purest, sweetest
sadness”.
“Somehow we are picking up signals from radio programmes of 40, 50, 60
years ago.”
I have no doubt that Putin ran a seriously 21st predominantly digital
programme of interference which amplified the Trump candidacy. POTUS
Trump was an ideal candidate for this kind of support.
Trump is a linguistic warfare specialist. Look at the names he gave
his opponents: Crooked Hillary, Lyin’ Ted, Little Marco, ‘Low-energy’
Jeb — were devastating and terminal.

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.0686
Dollar Index 100.29
Japan Yen 112.17
Swiss Franc 0.9957
Pound 1.2515
Aussie 0.7627
India Rupee 66.99
South Korea Won 1144.28
Brazil Real 3.1176
Egypt Pound 17.9995
South Africa Rand 13.4253

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Dollar Policy Confusion Keeping Currency Traders Up at Night
World Currencies


After Steven Mnuchin, Trump’s pick for Treasury secretary, seemed in
early December to fall in line with long-held policy of the government
supporting a stronger dollar, things have become much less clear. The
president has since said China and Japan had unfairly devalued their
currencies, while his trade adviser Peter Navarro said the euro was
“grossly undervalued.” And Mnuchin himself has since seemed to adjust,
saying in January that an “excessively strong dollar” could have a
negative short-term effect on the economy.

“The thinking among market participants is that the U.S. strong-dollar
policy has ended,” said Neil Jones, head of hedge-fund sales at Mizuho
Bank Ltd. “But the strong dollar has not necessarily ended. That’s why
there is some dilemma in the market.”

That’s because traders are still hopeful that over the long-term,
Trump will bolster growth by lifting infrastructure spending, cutting
taxes and reducing regulation.

The Bloomberg Dollar Spot Index fell 0.1 percent Wednesday to
1,236.22, extending a loss in 2017 to 2.5 percent. The index gained
7.2 percent in the fourth quarter.

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The Price of Copper via Bloomberg
Commodities


Emerging Markets

Frontier Markets

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Inside #Nigeria's Eurobond Roadshow: Nice Pitch, But What About the #Naira? @PaulWallace123
Africa


“The foreign-exchange policy is the elephant in the room,” said Oliver
Weeks, who attended the Feb. 3 meeting at London’s Corinthia Hotel for
Emso Asset Management Ltd., which manages about $3.5 billion of
emerging-market bonds. “They didn’t address it. The fact they’re doing
the Eurobond before addressing it is a sign that the foreign-exchange
policy won’t improve quickly.”

If Nigeria’s central bank Governor Godwin Emefiele let the naira float
freely, it would drop as much as 12 percent in six months to 358 per
dollar from 315, forward contracts indicate. The black market rate
fell to a record 500 last week, almost 40 percent weaker than the
official one, as the hard currency-squeeze worsened.

“Any change would have to be agreed at a very high level,” Segal said.
“Nothing can really happen until Buhari gets back.”

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The fundamental paradox at the heart of President Buhari's government is the Naira.
Africa


The fundamental paradox at the heart of President Buhari's government
is the Naira. Investors are sidelined waiting for President Buhari's
moment of Epiphany.

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Africa from the Inside: Spotlight on Risk in Africa Forecasting risk in Africa 2017 Deloitte
Africa


Key takeouts from this report

A rising debt crisis: Many African states are experiencing a fiscal
blowout – they have taken on too much public sector debt and are
unable to service it.
Captured capital: The question for investors in Africa will
increasingly be how to mitigate currency risk and repatriate or
re-invest what could be termed “captured capital”.
Currency risks: With the commodity price collapse over the past three
years, currency volatility for many emerging and frontier economies
has been a severe buffeting force to contend with.
Possibility of bank failures: How governments react to prevent or
manage banking failures will determine their future economic
trajectory over the longer term.
Political & governance risk: In many countries in the region there is
an obvious need for a shift in approach toward political and economic
governance.
Lower for longer commodity prices: Of continued concern for Africa’s
growth outlook are persistently low commodity prices, in particular
oil.
China’s rebalancing as a risk: An economic crisis – a so-called
“hard-landing” in the Chinese economy – would result in a severe
negative knock-on effect in Africa.

read more


Angola is planning a major expansion of its navy with the help of Privinvest Group @Africa_Conf
Africa


Angola is planning a major expansion of its navy with the help of
Privinvest Group, the company which supplied fishing vessels and
high-technology military patrol boats to Mozambique.

Luanda's latest lavish defence contract has eerie echoes of
Mozambique's controversial naval procurement

Angola is planning a major expansion of its navy with the help of
Privinvest Group, the company which supplied fishing vessels and
high-technology military patrol boats to Mozambique. Those deals left
Mozambique saddled with a ruinous US$2 billion of extra debt.
Privinvest announced its new project with the Angolan navy last
September but questions are still being asked about the advisability
and viability of the massive contract. It comes at an especially
challenging time for the public purse.

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Kenya Shilling versus The Dollar Live ForexPros 103.70
Kenyan Economy


Nairobi All Share Bloomberg -6.23% 2017

http://www.BLOOMBERG.COM/quote/NSEASI:IND

Nairobi ^NSE20 Bloomberg -8.70% 2017

http://j.mp/ajuMHJ

2,908.87 +26.13 +0.91%

The NSE20 is +3.33% in February

Every Listed Share can be interrogated here

http://www.rich.co.ke/rcdata/nsestocks.php

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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February 2017
 
 
 
 
 
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