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Satchu's Rich Wrap-Up
Tuesday 10th of May 2022

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The US bond market is down 9.2% in 22 based on the Bloomberg Treasury Index, while the S&P500 is down around 12%. @nordvig
World Of Finance

But the US bond market is down 20 monthly standard deviations while the US equity market is down 'just' seven.

Volatility adjusted, the US bond market is far worse!

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As a result of our unprecedented sanctions, the ruble was almost immediately reduced to rubble. The Russian economy is on track to be cut in half. @POTUS
World Of Finance

It was ranked the 11th biggest economy in the world before this invasion — and soon, it will not even rank among the top 20.

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You can print money, but not oil to heat or wheat to eat wrote @CreditSuisse’s Zoltan Pozsar.
World Of Finance

The Sanction warfare program is a reiteration of the @BarackObama 2014 version but then Oil was dropped to $20.00 and today its trading at $97.56 a barrel. This is the first flaw in the sanction warfare effort.
Russia essentially gave the $ and the Euro the very same exorbitant privilege that King Abdul Aziz Ibn Saud of Saudi Arabia gave President Franklin D Roosevelt aboard the USS Quincy in Great Bitter Lake in February 14, 1945 when the petro dollar economy was symbolically born.
By insisting payments are made in Russian Rubles for Russian commodities Vladimir Putin has withdrawn that exorbitant privilege.
The Russian Ruble rally is real and has much further to go.

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The Swing by Kabir Songs of #Kabir

Between the Poles of the Conscious and the Unconscious
there has the Mind made a Swing. Thereon hang all
Beings and all worlds, and that Swing never ceases it's Sway
Millions of Beings are there The Sun and the Moon in their
courses are there Millions of ages pass And The Swing
goes on. All Swing! The Sky and the Earth and the Air and the Water

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Don DeLillo Pafko at the Wall: The Shot Heard Round the World

When you see a thing like that, a thing that becomes a newsreel, you begin to feel you are a carrier of some solemn scrap of history.

The sun’s own heat that swallows cities.

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.05655
Dollar Index 103.647
Japan Yen 130.4490
Swiss Franc 0.992360
Pound 1.235125
Aussie 0.696365
India Rupee 77.35750
South Korea Won 1276.36 
Brazil Real 5.1610583 
Egypt Pound 18.501806
South Africa Rand 16.10250

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The Phenomenon is spreading like wildfire in large part because of the tinder dry conditions underfoot.
Emerging Markets

Prolonged stand-offs eviscerate economies, reducing opportunities and accelerate the negative feed- back loop.

Antonio Gramsci wrote, “The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum, a great variety of morbid symptoms appear. now is the time of monsters.”

Ryszard Kapucinski also said: “If the crowd disperses, goes home, does not reassemble, we say the revolution is over.”
It is not over. More and more people are gathering in the Streets.

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Paul Virilio Speed and Politics
Emerging Markets

“The revolutionary contingent attains its ideal form not in the place of production, but in the street, where for a moment it stops being a cog in the technical machine and itself becomes a motor (machine of attack), in other words, a producer of speed.’’

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Just in case anyone forgot: Sri Lanka is now governed by Gotabaya Rajapaksa, a man so sinister he used to keep a tank of sharks in his garden. Death of the Tiger @newyorker HT @jamescrabtree
Emerging Markets

The keynote speaker was Gotabaya Rajapaksa, an owlish, watchful man with a mustache, wearing spectacles and a gray suit. 

“Sri Lanka’s victory over terrorism is an unprecedented event that the world can learn from,” he said. 

He spoke of how the Tigers’ international support network had enabled it to raise funds from the Tamil diaspora and to ship weapons into Sri Lanka. 

“At one point, the L.T.T.E. controlled one-third of the Sri Lankan coastline,” he said. “In this way, heavy weaponry and enormous quantities of ammunition were brought to Sri Lanka. And this happened in a post-9/11 world.” 

Rajapaksa was congratulating the American observers; it had been the U.S. that helped locate the Tigers’ ships.

He didn’t drink, he said, and didn’t know what he had in the house. He knew only that he had a bottle of “Fonseka.” Would we like a drink of that? He grinned. On the trolley was a bottle of Fonseca Bin No. 27, a brand of port.

When I asked about the suspicions that the government was attempting to change the demographics of the Tamil lands by swamping them with Sinhalese soldiers, he said, with a laugh, “We should do that, but it’s difficult.”

” After dinner, Gotabaya led us outside. Across his lawn, by the garden’s high security wall, was a huge, illuminated outdoor aquarium.
Inside, several large, unmistakable shapes moved relentlessly back and forth.
“Are those sharks?” I asked him.
“Yes,” he said. “Do you want to see them?”
We crossed the lawn and stood in front of the tank, which was eight feet tall and twenty feet wide. There were four sharks, each about four feet long, swimming among smaller fish.

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NOV 15 The Seychelles

One of 115 islands that make up the Seychelles archipelago, which lies 1,500 Kilometres off East Africa.
Seychelles has a population of 90,024 and that is the small- est population of any independent African state.
The minister for Finance, Trade and The Blue Economy Jean-Paul Adam informed me that the Seychelles receives tourists three times its population every year.

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@SafaricomPLC share data
N.S.E Equities - Commercial & Services

Closing Price:           32.20
Market Capitalization:  $11.12b
EPS: 1.71
PE:   18.830

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

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