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Satchu's Rich Wrap-Up
 
 
Wednesday 09th of February 2022
 
Morning
Africa

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The final denouement @hendry_hugh
World Of Finance


29-NOV-2021 ::  Regime Change
https://j.mp/32AZEK5

A REGIME CHANGE IS UNDERWAY [in the markets]

There is no training – classroom or otherwise.. that can prepare for trading the last third of a move, whether it's the end of a bull market or the end of a bear market. 
There's typically no logic to it; irrationality reigns supreme, and no class can teach what to do during that brief, volatile reign. Paul Tudor-Jones



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What do bonds know? @Convertbond
World Of Finance

Mirrors on the ceiling, The Pink champagne on ice
https://bit.ly/3Bk45Gj
Last thing I remember, I was Running for the door

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Money supply contracted in January, coinciding with the selloff in equity markets. Largest decline since July 2020. @TaviCosta
World Of Finance






The Music has been playing for Eternity and its about to stop





https://bit.ly/2Wzp4Fg
Love Fellini. So brave, with that whiff of insanity. @DiAmatoStyle Federico Fellini's 8 1/2 @tcm
https://twitter.com/tcm/status/1232079264385773570?s=20

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The velocity of major global central bank liquidity continued to drop in January to levels not seen since 2020 The last time there was negative velocity we saw the 2018 drawdown @Mayhem4Markets
World Of Finance

The velocity of major global central bank liquidity continued to drop in January to levels not seen since 2020. This is a concern as we approach QT, which practically ensures that we'll see negativity this year.The last time there was negative velocity we saw the 2018 drawdown.

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My Struggle: Book 3 Karl Ove Knausgard
Misc.


Zeitgeist comes from the outside, but works on the inside. It affects everyone, but not everyone is affected in the same way.

I still can’t believe this person was able to steal $4.5 billion worth of bitcoin @alifarhat79


The ‘’Zeitgeist’’ of a time is its defining spirit or its mood. Capturing the ‘’zeitgeist’’ of the Now is not an easy thing because we are living in a dizzyingly fluid moment.


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Narrow Street, Limehouse. A light at a window in one of the Georgian houses on the street, with the bright lights of Canary Wharf beyond. @London_W4
Misc.

Narrow Street, Limehouse. Taken on my phone this evening, on my walk to The Grapes pub. A light at a window in one of the Georgian houses on the street, with the bright lights of Canary Wharf beyond. I've tried to photograph this loads of times and I have to say, I like this one.

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A walk along Narrow Street this evening. I love the juxtaposition of the old and the new. The beautiful old riverside buildings with One Canada Square, Canary Wharf, in the background. @London_W4
Misc.


It Felt Like A Kiss 3/6 Adam Curtis (2009)


A pastiche of found footage and iconic pop music, the film weaves together a narrative

It Felt Like a Kiss (Part 4/4) Adam Curtis


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My Struggle: Book 6 | Karl Ove Knausgard
Misc.


Oh, such a rush of well-being in the air, it seemed pervaded by the blue of the sea, though without being hot in the way the air is hot in summer, there was a hint of coolness and sedateness about it. 

As I crossed the asphalt toward the supermarket, whose flags hung flaccidly from their poles, the feeling the air gave me reminded me of smoothing one’s hand over marble on a sweltering hot day in some Italian town, that coolness, as subtle as it was surprising.

My mother’s face, for instance, appears mostly unchanged to me, what I see is “Mom,” the way she has always been, but then she can turn her head slightly in a certain way and all of a sudden, like a shock, I see that she has become elderly now, a woman approaching seventy with perhaps no more than ten years left to live. Then she can turn again and say something, and once more all I see is “Mom.”

Everyone’s life contained a horizon, the horizon of death, and it lay somewhere between the second and third generations before us, and the second and third generations after us. 

We, and those we lived with and loved, existed between those two lines. Outside were the others, the dead and the unborn

On one such occasion he had a book with him by someone called Wolfram, which he would leaf through. It seemed to be about certain recurring patterns, in everything from leaves to river deltas, and contained a lot of line graphs. 

My first association was to Thomas Browne and his seventeenth-century treatise on the quincunx figure, the pattern on the five side of a die and its occurrence in nature, then to something I had only just read, in the book Geir Angell was writing, about how all complicated systems – society, share markets, weather phenomena, traffic – sooner or later break down because of instabilities brought about by the systems themselves. 

I found this idea striking, since the patterns these breakdowns form are the same in artificial systems as they are in nature.

“I know what we can do,” said Vanja. “We can hold hands and close our eyes and fly away to ketchup land!”

The Pildammsparken on the other side of the old football stadium attracted mainly immigrants, whole families out picnicking into the evenings, occasionally the thud of drums could be heard rising up through the sunlight, as if from the depths of a dream. 

The way the shadows grew with evening, and the way the sun sank down, not into the sea or the forest, but into the city, had a dreamlike quality about it, I always found myself thinking when we were there.

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When meeting with Macron and noting that Kyiv had to implement the Minsk 2 agreement, Putin literally used a[n] Russian idiom: Like it or not, you have to bear it, my beauty @A_SHEKH0VTS0V
Law & Politics

When meeting with Macron and noting that Kyiv had to implement the Minsk 2 agreement, Putin literally used a Russian rape idiom: “Like it or not, you have to bear it, my beauty” (Нравится - не нравится, терпи моя красавица). Some versions of the idiom suggest a necrophilic angle.

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Putin sees an optimal window of opportunity to capitalize on this geopolitical context. @vtchakarova
Law & Politics

Putin sees an optimal window of opportunity to capitalize on this geopolitical context. His response is three-dimensional: 1) against Ukraine, which must always fear an imminent attack; 2) against the EU by humiliating European Union powers because of their irrelevance in this escalation /6
5 OCT 15 :: Putin is a GeoPolitical GrandMaster


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And finally in the long run, 3) against China and the US by raising the price of Russia's future participation in their systemic rivalry as the new free rider of the Global System @vtchakarova
Law & Politics

And finally in the long run, 3) against China and the US by raising the price of Russia's future participation in their systemic rivalry as the new free rider of the Global System. The two-fronts-scenario helps Moscow leverage its positions against China & United States for different reasons.

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We exist in a Tripolar World [US China and Russia]
Law & Politics

I am not discounting Fortress Europe but one senses the Fortress is keener on a more defensive posture unlike the US [notwithstanding its withdrawal from Afghanistan], China and Russia.
@JoeBiden is in a Pincer with Xi & Vladimir holding the console & ratcheting up the pressure & [and] they own the timing on the Ukraine Taiwan Two Step
https://twitter.com/alykhansatchu/status/1468498980342484992?s=20
The POINT remains @POTUS has to do a deal with Putin in order to avoid triangulation in the new Tri Polar World

5 DEC 16 :The Parabolic Rebound of Vladimir Putin
https://bit.ly/3xLiyJE 

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Simultaneously, Russia coordinated its view on Ukraine with China’s view on Taiwan & they created diplomatically a two-fronts-scenario /5 @vtchakarova
Law & Politics

Simultaneously, Russia coordinated its view on Ukraine with China’s view on Taiwan & they created diplomatically a  two-fronts-scenario which provides a breather for Beijing ahead of the Olympics following the upcoming Western boycotts. Russia keeps the West busy until Feb 20. /5

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We completely reject any questions over sovereignty of the Falklands. China must respect the Falklands' sovereignty @trussliz
Law & Politics


We completely reject any questions over sovereignty of the Falklands.

The Falklands are part of the British family and we will defend their right to self determination.
China must respect the Falklands' sovereignty

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Ukraine redeems 10% of eurobonds 2022, brings redemption of VRI to 20% - Finance Ministry
Law & Politics


Earlier it was indicated that in the context of escalation of the military threat to Ukraine from Russia and the sale of Ukrainian assets caused by it, the cost of eurobonds 2022 fell on some days below 90% of the face value, and their yield to maturity jumped to 26.5% per annum.The price of VRIs in January fell to 66.7% of the nominal compared to 90.7%-95.3% in December and over 100% during almost all other months of the last year. However, some stabilization of the situation and, possibly, active operations of the Ministry of Finance, led to the recovery of their prices to 76.7%, and eurobonds 2022 - to 97.1%.

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A cartel of dynasties. #Philippines super-ticket of #BongbongMarcos son of former President Ferdinand Marcos alongside #SarahDuterte daughter of the current populist president. #BBCNewsday @ojclegg
Law & Politics

#BBCNewsday explored the #Philippines super-ticket of #BongbongMarcos the son of the disgraced former President Ferdinand Marcos alongside #SarahDuterte the daughter of the current populist president. @ariesarugay told #BBCNewsday this was a “cartel of dynasties.”

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Blue curve = global daily counted covid cases. Global R (red) is again below 1 (yay). The scale of the omicron wave is mind-blowing. @DFisman
Misc.


The transmissibility of #Omicron is not in question, it clearly has a spectacular advantage.
https://j.mp/32AZEK5

29-NOV-2021 ::  #Omicron Regime Change
https://j.mp/32AZEK5
The Invisible Microbe has metastasized into Omicron and what we know is that COVID-19 far from becoming less virulent has become more virulent.
The transmissibility of #Omicron is not in question, it clearly has a spectacular advantage.

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Nations w/ high COVID19 2wk avg death/day increase @jmlukens
Misc.

Sudan: 919%
Japan: 605%
Indonesia: 496%
Chile: 211%
Iran: 208%
Bangladesh: 177%
Pakistan: 171%
Israel: 158%
Brazil: 148%
Uruguay: 130%

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Thunder Out of China @ydeigin
Misc.


Questions about the origins of COVID-19 are of more than academic interest.

WHATEVER THE ORIGINS of SARS-CoV-2, it was first observed in Wuhan, the initial outbreak occurring between October and December of 2019. The hypothesis that SARS-CoV-2 originated elsewhere and traveled undetected until it reached Wuhan is implausible. 

Earlier transmission would have led to earlier outbreaks in other locations, or would have produced viral lineages at earlier spots on the SARS-CoV-2’s phylogenetic tree. The virus phylogeny is strongly rooted in Wuhan.

 The Tell-Tale Genome

SARS-CoV-2 contains a number of curious genomic features—its novel furin cleavage site most obviously. No other known SARS-related coronavirus has a furin cleavage site

To enter human cells, SARS-CoV-2 uses a spike protein that attaches to human ACE2 receptors. The protein must then be cut by an enzyme in order to fuse with the cell membrane and penetrate the cell. 

The spike protein consists of two parts, S1 and S2. S1 is responsible for primary contact with the receptor, and S2, for fusion and penetration. 

For S2 to initiate fusion, the S1/S2 junction must be cut by a host enzyme like furin or TMPRSS2. 

This junction is where the novel furin cleavage site is found in SARS-CoV-2. 

Furin is a very efficient enzyme, found both on the surface and in the interior of many human cells, most notably in the airway epithelium. 

It is furin’s presence in the interior of the cell that allows newly formed virions to emerge in a pre-cut conformation, enhancing their infectivity.

The furin cleavage site in SARS-CoV-2 was created by a peculiar 12-nucleotide insertion—so peculiar, in fact, that the genomic locus in SARS-CoV-2 enveloping its furin cleavage site is, at least, twelve nucleotides longer than any of its relatives.

Virologists have created novel furin cleavage sites in coronaviruses repeatedly. It is obvious why. Furin cleavage sites greatly expand both the tissue and species tropism of a virus. And furin cleavage sites enhance the adaptation of a viral strain to certain cell lines.


Conclusion

THE CURRENT SARS-CoV-2 pandemic has been, and continues to be, a public health catastrophe—the most serious in a century. Questions about the origins of COVID-19 are, at once, matters of legal, financial, and moral concern. 

For the moment, researchers can do no better than to hope for an inference to the best explanation; and, for the moment, the best explanation seems to be that the virus escaped from the WIV.

The WIV was the biggest transporter of viruses to Wuhan from all over Asia, including many SARS-like viruses from Laos and Yunnan. 

Phylogenetic analysis shows that the SARS-CoV-2 outbreak was perfectly localized in Wuhan, as all strains that have been found in other locations are descendants of the Wuhan strain. 

Had the virus been circulating undetected in other parts of China, virologists would have eventually noted those pre-Wuhan strains and their descendants in the phylogenetic tree. 

Even after sequencing over six million SARS-CoV-2 genomes, no evidence has been found of pre-Wuhan SARS-CoV-2.

Not only was the WIV the biggest reservoir of SARS-like viruses in Wuhan, if not the world, its scientists were engaged in creating novel SARS-like and MERS-like chimeras and potentially supercharging their transmissibility and pathogenicity. With these circumstances in mind, consider the following facts:

Shi and Jiang were experts in spike protein cleavage and were working on a pan-coronavirus therapeutic to inhibit post-cleavage fusion of the virus with cell membranes.
Jiang had previously created a novel furin cleavage site via a 12-nucleotide insertion, though not in a coronavirus.
In a joint grant proposal the WIV and EcoHealth submitted to DARPA they suggested creating novel human-specific cleavage sites.
Taken together, these points make the 12-nucleotide insertion that has created a novel furin cleavage site in SARS-CoV-2—so uncharacteristic of SARS-like viruses—look extremely suspicious.

The behavior of the WIV and its scientists also raises any number of troubling questions. The viral strain RaTG13 is a case in point. 

First collected by the WIV in 2013, RaTG13 was sequenced in 2018, but not disclosed until after the SARS-CoV-2 outbreak. 

In their initial disclosure, the WIV failed to mention how or when they came to possess RaTG13, failed to indicate that it was previously called Ra4991, failed to cite their own 2016 paper first mentioning it, and seemed to imply that they only sequenced the sample after the outbreak. 

This does not seem like the behavior of scientists trying their utmost to establish how a Laotian or Yunnan virus came to cause an outbreak in Wuhan.

None of these points is in itself conclusive, but the circumstantial evidence is more suggestive of a lab leak than an act of nature.

There is an additional reason to take seriously the question at hand. It is prophylactic. Knowing at last that COVID-19 had its origins in the WIV would go some way toward enforcing a worldwide ban on gain-of-function research—research that is almost as useless as it is dangerous.

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Controlling the COVID19 Narrative, suppressing the Enquiry, parlaying the situation into one of singular advantage marks a singular moment
Misc.

Xi Jinping has exhibited Chinese dominance over multiple theatres from the Home Front, the International Media Domain,  the ‘’Scientific’’ domain over which he has achieved complete ownership and where any dissenting view is characterized as a ‘’conspiracy theory’’It remains a remarkable achievement

01-MAR-2020 :: The Origin of #COVID19


What is clear is that the #COVID19 was bio-engineered.
“If they can get you asking the wrong questions, they don't have to worry about answers.”― Thomas Pynchon

 “There's always more to it. This is what history consists of. It is the sum total of the things they aren't telling us.” Delillo

“A paranoid is someone who knows a little of what's going on. ” ― William S. Burroughs

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An Engineered Origin for the SARS-CoV2 Genome. H/T @Daoyu15
Misc.


As soon as NIH and CDC knew the furin cleveage site was the key to transmission, they knew they funded the research. This was in Dec/Jan 2020. Since then you've been lied to every step of the way. @still_a_nerd
https://bit.ly/3phEK8J

13-JUL-2020 :: Year of the Virus ’Zoonotic’’ origin was one that was accelerated in the Laboratory
https://bit.ly/3d99tl3

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.142185
Dollar Index 95.538
Japan Yen 115.4750
Swiss Franc 0.924990
Pound 1.355580
Aussie 0.715850
India Rupee 74.8335
South Korea Won 1196.460
Brazil Real 5.2597000
Egypt Pound 15.690100
South Africa Rand 15.35090

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26 MAR 18 :: Sell Facebook. #FB #META @TheStarKenya
World Of Finance


“We just put information into the bloodstream to the internet and then watch it grow, give it a little push every now and again over time to watch it take shape. And so this stuff infiltrates the online community and expands but with no branding – so it’s unattributable, untraceable.”
“It’s no use fighting elections on the facts; it’s all about emotions.”
“So the candidate is the puppet?” the undercover reporter asked. “Always,” replied Nix.

Traditional media has been disrupted and the insurgents can broadcast live and over the top from feeding the hot-house conspiracy frenzy on line (‘’a constant state of destabilised perception’’),

A 1997 US Army Quarterly concluded “One of the defining bifurcations of the future will be the conflict between information masters and information victims.” and this has come to pass.
In an extraordinary boomerang, The US’ adversaries have turned social media on its head and used it as a ‘’Trojan Horse’’ via psychographic profiling and micro-targeting at a mass scale.
The fundamental challenge for Facebook is this: It has represented itself as an ‘’Infomediary’’ An infomediary works as a personal agent on behalf of consumers to help them take control over information gathered about them. The concept of the infomediary was first suggested by John Hagel III in the book Net Worth.
However, Facebook has been hawking this information as if it were an intermediary. This is its ‘’trust gap’’. That gap is set to widen further. Facebook is facing an existentialist crisis.


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Coffee Reserves Plunge to Lowest in More Than Two Decades @markets
Commodities


Stockpiles of high-end arabica beans, a favorite of artisan coffee shops and chains like Starbucks Corp., totaled 1.078 million bags or about 143 million pounds, according to data released Monday by ICE Futures U.S. exchange. 

That’s the lowest level for inventories monitored by the New York exchange since February 2000.

Shrinking inventories are a concern because countries tap them when they aren’t getting enough product from overseas. 

It’s a sign that demand is outstripping supplies, and a condition for rising prices. 

Coffee prices have already been touching multiyear highs at a time when food inflation is gripping the globe.
“Low stocks at the exchange is one of the bullish factors adding to the coffee rally,” said Fernando Maximiliano, an analyst at StoneX in Sao Paulo, Brazil. 

Right now, it’s more attractive for Brazilian producers to sell into the domestic market rather than pay high shipping costs to deliver the commodity at the exchange, according to Maximiliano.

Brazil currently accounts by 39% of the inventories monitored by ICE, down from as much as 55% last year.

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Sri Lanka: Reserves plummet amid unsustainable debt payment Ponzi
Emerging Markets

Official reserves fell from US$3.14bn to US$2.36bn in Jan. despite a US$400mn swap inflow and US$512mn debt postponement
External public principal of a least US$2.1bn due in next two months will deplete reserves absent fresh inflows
Recent rally on IMF technical support is misplaced as gov't continues to resist IMF programme and reforms; retain Hold

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U.N. World Food Programme said 13 million people across the Horn of Africa face severe hunger, calling for immediate assistance to avoid a repeat of a famine a decade ago @Reuters
Africa


Three failed rainy seasons have created the driest conditions since the 1980s, with forecasts of below-average rainfall set to increase suffering in the coming months.
"We never experienced this before, we only see dust storms now. We are afraid that they will cover us all and become our graveyard," said Mohamed Adem from the Somali region of Ethiopia in a WFP video.
Aerial footage taken nearby showed vast dusty scrubland strewn with cattle carcasses. 

In Kebele village, people tied ropes beneath the torso of a thin cow to raise it to its feet.
"Though it is not out of control, there is a severe drought in areas in Somali and some parts of Oromia and Southern regional states," Ethiopian government spokesperson Legesse Tulu told Reuters. "So the WFP warning is quite right."
The drought is also spreading to parts of Kenya, south-central Somalia and Eritrea. 

Between 2010 and 2012, around 250,000 people died of hunger in Somalia, half of them children.


In chaos theory, the butterfly effect is the sensitive dependence on initial conditions in which a small change in one state of a deterministic nonlinear system can result in large differences in a later state. 



Lorenz wrote:
"At one point I decided to repeat some of the computations in order to examine what was happening in greater detail. I stopped the computer, typed in a line of numbers that it had printed out a while earlier, and set it running again. I went down the hall for a cup of coffee and returned after about an hour, during which time the computer had simulated about two months of weather. The numbers being printed were nothing like the old ones. I immediately suspected a weak vacuum tube or some other computer trouble, which was not uncommon, but before calling for service I decided to see just where the mistake had occurred, knowing that this could speed up the servicing process. Instead of a sudden break, I found that the new values at first repeated the old ones, but soon afterward differed by one and then several units in the last decimal place, and then began to differ in the next to the last place and then in the place before that. In fact, the differences more or less steadily doubled in size every four days or so, until all resemblance with the original output disappeared somewhere in the second month. This was enough to tell me what had happened: the numbers that I had typed in were not the exact original numbers, but were the rounded-off values that had appeared in the original printout. The initial round-off errors were the culprits; they were steadily amplifying until they dominated the solution." (E. N. Lorenz, The Essence of Chaos, U. Washington Press, Seattle (1993), page 134)[7]
Elsewhere he stated:
One meteorologist remarked that if the theory were correct, one flap of a sea gull's wings would be enough to alter the course of the weather forever. The controversy has not yet been settled, but the most recent evidence seems to favor the sea gulls.




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The idea behind the so-called Afro-Asian Century @orfonline @IEAKwame
Africa



The idea behind the so-called “Afro-Asian Century” is that Africa’s economic performance in the recent years, coupled with Asia’s success in making its mark on the world, will be amongst the most significant political and economic changes in the 21st century.

While the promise of the “Afro-Asian century” is real, it will be tempered by two factors. The first is economic growth. 

Only select countries in Africa will be able to maintain moderate to high levels of economic growth for at least one generation, which is key to becoming a significant player in the global economy in addition to achieving mass prosperity. 

A substantial number, however, may not. If this happens, the outcome will not be an “Afro-Asian century” for the countries that do not have sufficient economic or political weight. This risk is very real.

In its assessment, the International Monetary Fund (IMF) considers the year 2020 to be distinguished for the fact that countries in Sub-Saharan Africa (SSA) experienced economic contraction for the first time in 30 years.
The second factor is population growth. The challenge comes from a complicated but convenient claim that African population growth rates will carry forward for at least a generation and, thereby, lead to a convergence in population sizes between Africa and Asia. 

This assumption involves an extrapolation of the comparatively high fertility rates in some countries within Africa. 

These analyses posit that since most SSA countries will be far more populous in the coming years, by extension, African populations and workers will dominate world numbers. 

However, this argument is flawed. While many SSA countries have yet to undergo a demographic transition, the rising literacy rates and modest but real economic growth render the fear of an “overbreeding” continent unfounded. 

Fertility rates in Africa are likely to fall more sharply going forward, much faster than the straight-line extrapolations suggest.

Thus, Africa is faced with the challenge of making itself count in the 21st century. 

In all likelihood, it will be a mixed picture, with a few superstars; many middle-level countries; and a small number of countries trapped in conflict, poor governance and an inability to initiate and maintain necessary economic reform.

Kenya has ambitions to serve as a bellwether of growth in the East African Region and in the southwest of the Indian Ocean Region (IOR). 

There is a clear convergence of interests and opportunity for developing maritime commerce by ensuring the safety of trade routes, the readiness of ports, and a commitment to rules-based international commerce. 

Through the Lamu Port, Ethiopia, South Sudan Transport Corridor (LAPPSET) project, Kenya leads Ethiopia and South Sudan in building the largest infrastructure project in the Eastern African seaboard, linking a port, highways, railway line, pipeline, new cities and airports. 

These countries estimate correctly that the significance of the Indian Ocean as an avenue for global commerce will rise in the future, and this location will become invaluable. 


The "Indian Ocean Region" is expected to become the geostrategic center of gravity in the New Cold War @eurasia_future @AKorybko



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Lateen dhow. The most handsome vessel in the world? I think so. @saradwheeler
Africa



Professor Felipe Fernández-Armesto ‘The precocity of the Indian Ocean as a zone of long-range navigation and cultural exchange is one of the glaring facts of history’, made possible by the ‘reversible escalator’ of the monsoon.’




The "Indian Ocean Region" is expected to become the geostrategic center of gravity in the New Cold War @eurasia_future @AKorybko


Excellent insight on Wang Yi in #Africa. "#China-s center of gravity is shifting towards the Indian Ocean" H/T @PNantulya @trtworld @The_Newsmakers 


"Whoever attains maritime supremacy in the Indian Ocean would be a prominent player on the international scene." (US Navy Geostrategist Rear Admiral Alfred Thayus Mahan (1840-1914))


Interview with Maria Joao Lopo de Carvalho about Luis de Camoes and her book which followed his c16th journey from Portugal to Macau via Cape of Good Hope 


Interview with Maria Joao Lopo de Carvalho about Luis de Camoes and her book which followed his c16th journey from Portugal to Macau via the Cape of Good Hope Mozambique Mombasa Malindi Oman Hormuz Goa Sri Lanka Macau Malacca


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Ghana panics after China begins exporting cocoa beans. They’ve machines that peel cocoa straight from harvesting. @cobbo3
Africa

Ghana panics after China begins exporting cocoa beans. They’ve machines that peel cocoa straight from harvesting. Someone notes; “Africa has produced cocoa for nearly 150yrs and all…farmers have done was to marry more wives & bear more children to help peel cocoa pods” 

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Ghana panics after China begins exporting cocoa beans
Africa

Some Ghanaians are panicking over reports of the Chinese entry into the cocoa industry.
The Chinese Academy of Tropical Agricultural Sciences recently reported that the Chinese island of Hainan has exported cocoa beans to Belgium.
South China’s island province of Hainan was responsible for the exported cocoa beans.
The first batch of 500 kg of cocoa beans worth 3,044 euros (about $3,600), was produced in Xinglong, a township of Hainan with a tropical climate, China Daily reported.
“Cocoa is a raw material for making chocolate. With the increasing demand for chocolates, Hainan has been expanding its cocoa planting area and making breakthroughs in technological development,” said Hao Zhaoyun, a researcher with CATAS.
“As Belgium is dubbed ‘kingdom of chocolates,’ exports to the country indicate that our cocoa production standards have been recognized by the international community,” Hao added.
Panic in Ghana
Ghana’s COCOBOD, the agency that handles issues related to cocoa farming and export in Ghana is assessing the impact of the impact of cocoa beans by China.
Although COCOBOD appears concerned, it maintains that the quantity of the Chinese cocoa export is too small to affect Ghana as the second largest cocoa producer in the world.
But there are concerns about the impact on price of cocoa beans on the world market if there is no increase in production and consumption.
Ghana’s Agricultural Workers Union (GAWU) has cautioned the government not to panic but rather initiate steps to modernize agriculture to mitigate any impact.
According to the General Secretary of GAWU Edward Kareweh the government of Ghana must transform cultivation of cocoa, its harvesting and processing to generate more revenue from cocoa production.
“We have to immediately change how we produce cocoa in this country. For more than 100 years we have been using cutlasses and hoes on our cocoa farms.
If we look at how we even harvest and store the cocoa beans, it is also not the best. We must sit up looking at the capacity of China and what they can do when they enter a particular industry” he said.
A Ghanaian renowned businessman, Sam Jonah expressed worry at a public event saying “The Chinese having helped pollute our rivers through illegal mining activities and having, in connivance with some Ghanaians acquired large tracks of farmlands in the cocoa growing areas have started producing their own cocoa.”

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China starts cocoa export in less than a year and they have a machine that peels cocoa straight from harvesting The world won't wait for us. @SaddickAdams
Africa

Ogyakrom have produced cocoa for nearly 150yrs and farmers have to born more children to help peel.
The world won't wait for us.
More Lancruiser V8. Less thinking

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Zimbabwe’s central bank has ruled out a return to using the U.S. dollar as official currency because there’s not enough greenbacks in the country. @markets
Africa


The Zimbabwean dollar, reintroduced three years ago, accounts for 56% of bank deposits with the balance made up of foreign currency, “which shows that there is no sufficient foreign currency liquidity to support dollarization in Zimbabwe,” he said.

The governor’s comments come as the government has sought to encourage the use of the local unit that’s plunged by 22% against the U.S. currency since October. That’s helped fuel inflation to more than 60% in January.
The U.S. dollar is being used to pay for everything from fuel, food, medicines and school fees. State workers and bank employees have requested to be paid in greenbacks. 


21-JAN-2019 :: @harari_yuval & money


“Money is accordingly a system of mutual trust, and not just any system of mutual trust: money is the most universal and most efficient system of mutual trust ever devised.”
“Cowry shells and dollars have value only in our common imagination. Their worth is not inherent in the chemical structure of the shells and paper, or their colour, or their shape. In other words, money isn’t a material reality – it is a psychological construct. It works by converting matter into mind.”
The Point I am seeking to make is that There is a correlation between high Inflation and revolutionary conditions, Zimbabwe is a classic example
The Mind Game that ZANU-PF played on its citizens has evaporated in a puff of smoke.


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Kenyan shilling currently trading at 113.5 but given recent increases in global oil price US Federal Reserve intention to stop its QE programme in March 2022 & possible risk of a drought, the shilling could depreciate further, @efghermeske
Kenyan Economy

“Forex pressure is likely to continue in 2022 as the economic recovery gains pace. We expect the recovery, though, to be tamer than peers, given the build-up to presidential elections in August,” the firm said.

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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February 2022
 
 
 
 
 
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