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Satchu's Rich Wrap-Up
Thursday 18th of October 2018

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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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09-JUL-2018 :: Tariff wars, who blinks first?

President Trump after bashing on Justin Trudeau of Canada and Mexico’s
Enrique Peña Nieto [now upended, of course] and then firing a few
broadsides at Europe, has now turned his attention to Xi Jinping and
thrown him the Keys challenging him to a “Chickie Run.”

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"Trump's aggressive coercive foreign economic policy is the signature success of this administration. It is highly effective - China is in retreat notwithstanding some bravura talk. Trump can keep it up. It's working a treat," Mr. Satchu told Sp

Chinese leaders can be forgiven for seething about this declaration of
economic warfare. [Asia Nikkei] I have said severally that Trump who
remains a linguistic warfare Specialist has proven a skilled coercive
sanction warfare Specialist.

“Trump’s aggressive coercive foreign economic policy is the signature
success of this administration. It is highly effective — look at
Venezuela to see its most extreme output. Iran is in a similar bind.
China is in retreat notwithstanding some bravura talk. Trump can keep
it up. It’s working a treat,” Mr. Satchu told Sputnik. [September

On Trade Trump is disrupting the Chinese Supply Chain bigly.

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BBDXY starting to look better if can hold with another higher highs @Sunchartist/

Home Thoughts

Rabindranath Tagore's short stories are like Jewels but oftentimes bitter-sweet

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The Hungry Stones And Other Stories by Rabindranath Tagore [continued]

Then I was filled with a lively fear that it was the Muse that had
taken advantage of my solitude and possessed me--the witch had
evidently come to ruin a poor devil like myself making a living by
collecting cotton duties. I decided to have a good dinner--it is the
empty stomach that all sorts of incurable diseases find an easy prey.
I sent for my cook and gave orders for a rich, sumptuous moghlai
dinner, redolent of spices and ghi.

Leaving my report unfinished I rose, put on my sola hat, and startling
the dark, shady, desolate path with the rattle of my carriage, I
reached the vast silent palace standing on the gloomy skirts of the
hills. On the first floor the stairs led to a very spacious hall, its
roof stretching wide over ornamental arches resting on three rows of
massive pillars, and groaning day and night under the weight of its
own intense solitude. The day had just closed, and the lamps had not
yet been lighted. As I pushed the door open a great bustle seemed to
follow within, as if a throng of people had broken up in confusion,
and rushed out through the doors and windows and corridors and
verandas and rooms, to make its hurried escape.

As I saw no one I stood bewildered, my hair on end in a kind of
ecstatic delight, and a faint scent of attar and unguents almost
effected by age lingered in my nostrils. Standing in the darkness of
that vast desolate hall between the rows of those ancient pillars, I
could hear the gurgle of fountains plashing on the marble floor, a
strange tune on the guitar, the jingle of ornaments and the tinkle of
anklets, the clang of bells tolling the hours, the distant note of
nahabat, the din of the crystal pendants of chandeliers shaken by the
breeze, the song of bulbuls from the cages in the corridors, the
cackle of storks in the gardens, all creating round me a strange
unearthly music. Then I came under such a spell that this intangible,
inaccessible, unearthly vision appeared to be the only reality in the
world--and all else a mere dream.

At that moment my servant entered with a lighted kerosene lamp in his
hand. I do not know whether he thought me mad, but it came back to me
at once that I was in very deed Srijut So-and-so, son of So-and-so of
blessed memory, and that, while our poets, great and small, alone
could say whether inside of or outside the earth there was a region
where unseen fountains perpetually played and fairy guitars, struck by
invisible fingers, sent forth an eternal harmony, this at any rate was
certain, that I collected duties at the cotton market at Banch, and
earned thereby Rs. 450 per mensem as my salary. I laughed in great
glee at my curious illusion, as I sat over the newspaper at my
camp-table, lighted by the kerosene lamp.

I fell asleep or how long I slept; but I suddenly awoke with a start,
though I heard no sound and saw no intruder--only the steady bright
star on the hilltop had set, and the dim light of the new moon was
stealthily entering the room through the open window, as if ashamed of
its intrusion. I saw nobody, but felt as if some one was gently
pushing me. As I awoke she said not a word, but beckoned me with her
five fingers bedecked with rings to follow her cautiously. I got up
noiselessly, and, though not a soul save myself was there in the
countless apartments of that deserted palace with its slumbering
sounds and waiting echoes, I feared at every step lest any one should
wake up. Most of the rooms of the palace were always kept closed, and
I had never entered them. I followed breathless and with silent steps
my invisible guide--I cannot now say where. What endless dark and
narrow passages, what long corridors, what silent and solemn
audience-chambers and close secret cells I crossed!

Though I could not see my fair guide, her form was not invisible to my
mind's eye, --an Arab girl, her arms, hard and smooth as marble,
visible through her loose sleeves, a thin veil falling on her face
from the
fringe of her cap, and a curved dagger at her waist! Methought that
one of the thousand and one Arabian Nights had been wafted to me from
the world of romance, and that at the dead of night I was wending my
way through the dark narrow alleys of slumbering Bagdad to a
trysting-place fraught with peril.

At last my fair guide stopped abruptly before a deep blue screen, and
seemed to point to something below. There was nothing there, but a
sudden dread froze the blood in my heart-methought I saw there on the
floor at the foot of the screen a terrible negro eunuch dressed in
rich brocade, sitting and dozing with outstretched legs, with a naked
sword on his lap. My fair guide lightly tripped over his legs and held
up a fringe of the screen. I could catch a glimpse of a part of the
room spread with a Persian carpet--some one was sitting inside on a
bed--I could not see her, but only caught a glimpse of two exquisite
feet in gold-embroidered slippers, hanging out from loose
saffron-coloured paijamas and placed idly on the orange-coloured
velvet carpet. On one side there was a bluish crystal tray on which a
few apples, pears, oranges, and bunches of grapes in plenty, two small
cups and a gold- tinted decanter were evidently waiting the guest. A
fragrantintoxicating vapour, issuing from a strange sort of incense
that burned within, almost overpowered my senses.

Then followed a great discord between my days and nights. During the
day I would go to my work worn and tired, cursing the bewitching night
and her empty dreams, but as night came my daily life with its bonds
and shackles of work would appear a petty, false, ludicrous vanity.
After nightfall I was caught and overwhelmed in the snare of a strange
intoxication, I would then be transformed into some unknown personage
of a bygone age, playing my part in unwritten history; and my short
English coat and tight breeches did not suit me in the least. With a
red velvet cap on my head, loose paijamas, an embroidered vest, a long
flowing silk gown, and coloured handkerchiefs scented with attar, I
would complete my elaborate toilet, sit on a high-cushioned chair, and
replace my cigarette with a many-coiled narghileh filled with
rose-water, as if in eager expectation of a strange meeting with the
beloved one.

Reflecting on a spectacular #WildlifeWednesday at #VumburaPlains
#SwampLion #OkavangoDelta © @NickOnWild


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Amboseli sunsets this year have been out of this world! Photo by @fox_andreas

The record rainfall from March to May filled up the ancient lakebed
and allowed for dormant grass seeds to finally germinate after years
of drought. Photo by @fox_andreas

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The alleged murder of Mr Khashoggi is only the latest of a series of Saudi ventures since 2015 that have failed to turn out as planned.
Law & Politics

The alleged murder of Mr Khashoggi is only the latest of a series of
Saudi ventures since 2015 that have failed to turn out as planned. The
list includes a stalemated war in Yemen that has almost provoked a
famine; escalation in Syria that provoked Russian military
intervention; the blockade of Qatar; and the detention of Lebanese
prime minister Saad Hariri.

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Article 6 of the Anti-Cyber Crime Law stipulates a maximum five years in prison and a maximum fine of 3 million riyals ($800,000) for sharing rumors or fake news that breach public order, religious values, public morals, and privacy.
Law & Politics

“I’m shaking now, literally,” says a Saudi businessman vacillating
between fear and disbelief that his country might have resorted to the
methods of late dictators such as Iraq’s Saddam Hussein and Libya’s
Moammar Qaddafi. He spoke on condition of anonymity, a usual request
nowadays in a country where the prince has been willing to detain even
royals and billionaires to get his way.

Exiled dissidents are sharing stories of what they now believe were
attempts to lure and arrest them. Abdullah Alaoudh, 34, the son of a
cleric facing trial in Riyadh, has lived in the U.S. for almost a
decade. “They tried to make me return in one way or another, but it
was obvious that it was a trap,” he says. When his passport was about
to expire last year, he applied for renewal at the embassy in
Washington and was told his services were “frozen,” and he couldn’t
renew it without going back to the kingdom. Alaoudh says he’s
maintained U.S. residency because of his work as an academic. “The
message that the perpetrator is trying to send is that if you
disagree, we’ll get to you, and we will not be even covert about it,”
he says. “We can do it while the whole world is watching, and nobody
can do anything about it because we are so powerful.”

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.1489
Dollar Index 95.69
Japan Yen 112.49
Swiss Franc 0.9953
Pound 1.3086
Aussie 0.7120
India Rupee 73.54
South Korea Won 1133.98
Brazil Real 3.6870
Egypt Pound 17.8303
South Africa Rand 14.2919

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Chart of the Day: The World Bank Ranks Each County Based on Its "Human Capital"
World Currencies

“The bar is rising for everyone,” World Bank President Jim Yong Kim
said in a press release. “Building human capital is critical for all
countries, at all income levels, to compete in the economy of the

At the top of the rankings were East Asian countries/territories,
including Singapore, South Korea, Japan and Hong Kong, which scored
0.88, 0.84, 0.84 and 0.82 respectively. The World Bank points to these
countries’ focus on education in particular as the main driver of
their rapid development in the 20th century.

Low-income African countries made up the bottom of the rankings,
including Chad (0.29) and South Sudan (0.30), as well as Niger, Mali
and Liberia – all three of which scored 0.32. But Kim says that
poverty shouldn’t preclude education and health from being a priority

“For the poorest people, human capital is often the only capital they
have,” he said. “Human capital is a key driver of sustainable,
inclusive economic growth, but investing in health and education has
not gotten the attention it deserves.”

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The Comoros Crisis Pits China Against France Off the Coast of East Africa @GRTVnews @AKorybko

The Comoros is probably one of the most geopolitically curious
countries in the world by virtue of its location, history, and
international relationships. This former French colony off the coast
of East Africa is nowadays very close to China and also counts itself
as the southernmost member of the Arab League. It’s experienced over
20 coup attempts in its slightly more than 40 years of independence,
some of which were carried out by the infamous French mercenary Robert
Denard, and was recently in the news for a shady citizenship scheme
where it sold $100 million worth of passports to people from the
Mideast. Although being regarded in the past as one of Iran’s few
international partners, it decisively shifted its allegiance to Saudi
Arabia after breaking ties with the Islamic Republic in January 2016
over Tehran’s contemporaneous tensions with the Wahhabi Kingdom. Taken
together, this makes Comoros uniquely positioned at the intersection
of French, Chinese, and Saudi geopolitical interests.

Somewhat conspiratorially but still reasonably, it’s been claimed that
China is only paying attention to such an economically insignificant
and politically unstable country as the Comoros because of the
strategic interests that it has in possibly building a
satellite-monitoring station along the equator and prospecting in the
LNG-rich waters off the Tanzanian and Mozambican coasts where plenty
of offshore gas deposits have already been found. In the worst-case
scenario, China’s preeminent position in the Comoros could allow it to
exert influence over those neighboring deposits and keep an eye of
nearby naval activity there, thereby justifying its comparatively
paltry but nevertheless locally impactful investments there. All of
this could be offset, however, if Assoumani is successfully framed by
the West as a “power-hungry pro-Chinese dictator irresponsibly putting
the country’s territorial integrity at risk” through his “provocative”
and “illegal referendum” that might lead to sanctions against him or

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Abiy Ahmed. It's all about speed and velocity. Paul Virilio terms it 'dromology', which he defined as the "science (or logic) of speed"

“Whoever controls the territory possesses it. Possession of territory
is not primarily about laws and contracts, but first and foremost a
matter of movement and circulation.”
Virilio argues that the traditional feudal fortified city disappeared
because of the increasing sophistication of weapons and possibilities
for warfare.
For Virilio, the concept of siege warfare became rather a war of movement.
Abiy Ahmed has moved at lightning speed, the old guard is like ‘’the
traditional feudal fortified city’’.

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South Africa All Share Bloomberg -11.95% 2018

Dollar versus Rand Chart @TCommodity 14.2682


Egypt Pound versus The Dollar 3 Month Chart INO 17.8303


Nigeria All Share Bloomberg -15.18% 2018


Ghana Stock Exchange Composite Index Bloomberg +11.94% 2018


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Treasury spent Sh1.4bn on bailouts to June @dailynation
Kenyan Economy

The Treasury spent Sh1.4 billion in the financial year ended June on
settling debt owed to it by three struggling parastatals including the
national broadcaster KBC.
The government is now left claiming the amounts from the bailed-out
firms whose financial health has worsened over the years.
Besides the Kenya Broadcasting Corporation (KBC), the other firms
whose debts were settled by taxpayers include East African Portland
Cement Company (EAPCC) and Tana Athi River Development Authority
“During the full year 2017/18, government paid Sh1.4 billion as called
up guarantee debts owed by public enterprises that were in financial
distress,” the Treasury says in its latest public debt management


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A sports-betting firm tied to Arsenal is considering a Kenyan IPO, sources say
Kenyan Economy

SportPesa Ltd., an online-betting company with operations in Africa
and the U.K., plans to list on the Nairobi Securities Exchange in the
first quarter of next year, according to two people familiar with the
The firm, with 100 billion shillings ($1 billion) of annual revenue,
may rank among the 10 biggest companies on the exchange if the IPO
goes ahead, said one of the people.
Both asked not to be identified because the information is private.
The listing would be the first in Nairobi since August 2016, when
clothing retailer Deacons East Africa Plc began trading.
Isle of Man-registered SportPesa appointed Nairobi-based Kestrel
Capital East Africa Ltd. as transaction advisers for the IPO, the
people said. Kestrel Executive Director Andre DeSimone declined to
comment when contacted by phone on Wednesday.
Sportpesa declined to comment on the listing plans. The company said
in 2016 it’s mulling a listing in two years, Nairobi-based news
website MediaMax reported.
“SportPesa is a privately owned company and is constantly exploring
opportunities that will create value for our stakeholders,” the
company said in an emailed response to questions on Wednesday. “As and
when appropriate, we will communicate with each of our stakeholders.”
SportPesa has a three-year, multi-million pound sponsorship deal with
English soccer team Hull City and a five-year sponsorship agreement
with Everton Football club, according to its website. The gaming
company is also Arsenal Football Club’s Africa betting partner, it

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Kenya Shilling versus The Dollar Live ForexPros
Kenyan Economy

Nairobi All Share Bloomberg -15.48% 2018


Nairobi ^NSE20 Bloomberg -25.78% 2018


Every Listed Share can be interrogated here


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by Aly Khan Satchu (www.rich.co.ke)
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October 2018

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