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Satchu's Rich Wrap-Up
 
 
Friday 04th of September 2020
 















Wear a mask while having sex, Canada's top doctor suggests @Reuters .
Misc.

Skip kissing and consider wearing a mask when having sex to protect yourself from catching the coronavirus, Canada’s chief medical officer said on Wednesday, adding that going solo remains the lowest risk sexual option in a pandemic.

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Edward Ruscha, Miracle #64 1975
Misc.

Ruscha made a series of Miracle drawings in the mid-1970s. In these pastel drawings beams of light appear to burst forth from dark backgrounds. ‘Shafts of light and the word “Miracle” have always been synonymous,’ the artist has commented. Miracle is also the title of a short film Ruscha made in 1975. The beam of light in his picture could be seen as that of a cinema projector, referring to the miracle of moving pictures.

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.1847

Dollar Index 92.82

Japan Yen 106.144

Swiss Franc 0.9102

Pound 1.3287

Aussie 0.7277

India Rupee 73.0852

South Korea Won 1189.68

Brazil Real 5.2912

Egypt Pound 15.8107

South Africa Rand 16.7491

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Top BlackRock Fund Is Betting Again on Riskiest Emerging Markets @markets
Emerging Markets


A BlackRock Inc. emerging-market fund that beat 99% of peers this year by loading up on cash ahead of the March rout, is back in the market for some of the world’s riskiest debt.

Sergio Trigo Paz, who helps oversee the $1.7 billion BlackRock Strategic Funds - Emerging Markets Flexi Dynamic Bond Fund, said he’s bought debt from sub-Saharan Africa and other frontier markets that have proven more resilient.

As the risk of a wave of defaults subsides, developing-nation assets are becoming the “only game in town,” said the London-based investor, warning security selection is more important as global liquidity rises. 

He bought debt from oil exporters Angola, Gabon, Nigeria, Ghana and the Ivory Coast as crude rebounded to $40 per barrel.

“There’s no quantitative easing available, or just very little, so you get a natural selection in emerging markets,” Trigo Paz said in an interview. 

“You’re going to get the survival of the fittest, but the good news is that you’re going to get paid for the risk you’re taking.”

On average, cash made up almost a third of his holdings during the first three months of the year, when he warned of the high chances of a global recession. 

By the second quarter, only 5% was invested in cash as Trigo Paz started trading dollars for currencies from Poland, Hungary, the Czech Republic and Asia. 

He even added exposure to Latin America’s distressed issuers, Ecuador and Argentina, as they neared restructuring deals.

That strategy has returned 10% this year, outperforming 99% of peers, according to data compiled by Bloomberg.

As the pandemic exposes inequalities in emerging-market nations, Trigo Paz warned that social discontent may become a bigger risk factor for investors.

“In some countries the answer to social pressure would be repression,” Trigo Paz said. “Understanding how the policy reaction functions to social pressure is a key to selection going forward.”

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@emirates gets US$2 billion injection from Dubai government @NewshubNZ @Reuters
Tourism, Travel & Transport

Emirates has received US$2 billion from the government of Dubai as it faces a cash crunch caused by the COVID-19 pandemic, according to documents seen by Reuters.Aviation has been one of the worst-hit industries during the pandemic and Emirates has cut thousands of jobs as it tries to manage the crisis.

In the documents, the government agreed to provide US$2 billion to the airline it owns after Dubai’s crown prince in March promised equity to Emirates to see it through the crisis.

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@WilhelmSasnal Gaddafi 1 2011 @Tate
Africa

Gaddafi 1 depicts the body of the Libyan dictator Muammar Gaddafi, who was killed by rebel fighters on 20 October 2011. Rather than show the corpse directly, Sasnal depicts an amorphous mass of paint resting on what appears to be a mattress. The thick impasto of the oil paint, alludes to the ripped and torn body of the dictator, contrasting sharply with the flat paint work of the surrounding space. Gaddafi 1 is the first in a group of three paintings based on digital images of the violent death of Gaddafi, the others being Gaddafi 2 2011 (Tate T14240) and Gaddafi 3 2011 (Tate T14242). It is the smallest painting in the group and the only one to focus exclusiv

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@WilhelmSasnal Gaddafi 2 2011 @Tate
Africa

Gaddafi 2 depicts a group of rebel fighters looking at, and taking images of, the body of the Libyan dictator Muammar Gaddafi, who was killed by rebels on 20 October 2011. The figure on the right is caught in the process of filming the scene, which forms the central action of the image. The mediation of the event, first through video footage, which was broadcast on the news worldwide, then through the translation of some of these images into painting, is elevated to the central subject matter of the work. Gaddafi 2 is the second in a group of three paintings based on digital images of the violent death of Gaddafi, the others being Gaddafi 1 2011 (Tate T14241) and Gaddafi 3 2011 (Tate T14242). It is rare for Sasnal to make the relationship of his paintings to digital imagery so explicit, whereas the dramatic cropping, stark palette and obscured facial features are all highly typical of his approach.

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24 OCT 11 :: Gaddafi's Body in a Freezer - What's the Message?
Africa


The raw feed of the capture and then death of the Liby- an dictator Muammar Gadd- afi and his son Mo’tassim Gaddafi raise plenty of questions. 


I am left thinking, this dead Gaddafi business is one powerful message. 

And today Marshall McLuhan’s prediction in The Gutenberg Galaxy (1962) that ‘The new electronic interdependence recreates the world in the image of a global village’ has come to pass. 

The image of a bloodied Gaddafi, then of a dead Gaddafi in a meat locker have flashed around the world via the mobile, YouTube and Twitter.

Who is in charge of the messaging? Through the fog of real time and raw footage, I note a very powerful message. The essence of that message being;

‘Don’t Fxxk with us! Be- cause you will end up dead and a trophy souvenir in a fridge.’ 

That same person is probably repeating Muammar’s comment, “I tell the coward crusaders: I live in a place where you can’t get me. I live in the hearts of millions.”

And asking ‘Really? Are You? Or are you now very dead and in a meat locker?’

“We are not afraid, we are not afraid, we are afraid only of God,” the crowds chanted in Tunis in January a few days before Tunisia’s Zine al-Abidine Ben Ali fled. 

Zine al-Abidine Ben Ali and his Wife Leila Trebelsi are currently sunning themselves in Jeddah, apparently in the very same villa that was availed to Idi Amin Dada. They remain alive.

President Mubarak was deposed in February and he is locked up. 

Muammar is in a meat locker and dead. The trend is your friend is an ancient mantra in the markets.

There is, i think, a narrative fallacy, that the events triggered by Mohamed Bouzizi deep on the Tunisian frontier would some somehow be contained North of the Sahara. 

I noted a new market being made on departure dates around the longest serving African Leaders. Teodoro Obiang Nguema of equatorial Guinea (32), Jose Santos of Angola (32), Robert Mugabe of Zimbabwe (31), Paul Biya of Cameroon (29) and Yoweri Museveni of Uganda (25), King Mswati III of Swaziland (24), Blaise Campore of Burkina Fasso (24). We are living in very accelerated times.


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@WilhelmSasnal Gaddafi 3 2011 @Tate
Africa

Gaddafi 3 depicts the body of the Libyan dictator Muammar Gaddafi, who was killed by rebels on 20 October 2011, lying on a mattress surrounded by a group of rebel fighters. Gaddafi 3 is the third in a group of three paintings based on digital images of the violent death of Gaddafi, the others being Gaddafi 1 2011 (Tate T14241) and Gaddafi 2 2011 (Tate T14240). The scale of this canvas, the largest of the three, establishes a direct physical relationship between the viewer and the fighters depicted within it, both engaged in focusing on the lifeless body. The flat application of oil paint, unusual fleshy palette and use of grey-scale with a preponderance of saturated black, are all typical of Sasnal’s practice. The dramatically foreshortened figure of Gaddafi also recalls Andrea Mantegna’s painting Lamentation of Christ c.1480 (Pinacoteca di Brera, Milan).

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28-OCT-2019 :: From Russia with Love
Africa

“Our African agenda is positive and future-oriented. We do not ally with someone against someone else, and we strongly oppose any geopolitical games involving Africa.”

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Uganda May Lose Up to $2 Billion Tourism Revenue Due to Virus @markets
Africa

Uganda could miss out on as much as $2 billion in tourism revenue this year due to travel restrictions implemented after the coronavirus outbreak, according to Tourism Minister Godfrey Ssuubi Kiwanda.

The East African nation, a popular gorilla-trekking and safari destination, recorded 1.3 arrivals in the year through June 2019, earning it $1.6 billion

Before the onset of Covid-19 the government had forecast this year’s number at 1.5 million, Kiwanda said by phone Thursday.

Most visitors to the country are from the U.S. and Europe, along with Japan, China and India.

The country plans to reopen Entebbe International Airport about 40 kilometers (25 miles) from the capital, Kampala, later this month as lockdown measures are eased, Kiwanda said.

Uganda is in talks with lenders including the World Bank to support the industry, he said, without disclosing the amount sought.

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December 9, 2019 Time to Big Up the Dosage of Quaaludes
Africa

This week Moody’s Investor Services downgraded Nigeria to negative and we learnt that Foreign Investors are propping up the Naira to the tune of NGN5.8 trillion ($16 billion) via short-term certificates. Everyone knows how this story ends. When the music stops, everyone will dash for the Exit and the currency will collapse just like its collapsing in Lusaka as we speak

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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September 2020
 
 
 
 
 
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