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Satchu's Rich Wrap-Up
Friday 25th of September 2020

Kongo river estuary in Diani, Kwale county. @kenyangeography

The relatively short river starts 20km away at Shimba Hills. 

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"Do we have to stay in a cave until something pops up and says ‘now you’re safe?'" Prof Jean-Francois Toussaint @unherd
Law & Politics

Prof Jean-Francois Toussaint warns that we should be careful about placing too much faith in a vaccine on #LockdownTV

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"The goal of Russian disinformation is not to make you believe in anything, but to destroy your trust in everything." @WIRED
Law & Politics

Journalist Maria Ressa explains the real goal of disinformation operations—and how they're weakening democracy: 

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22-JUN-2020 :: Whoever Controls The Narrative Controls The World
Law & Politics

I thought to myself This all has the Imprimatur of the "political technologist of all of Rus." And non linear War Specialist Vladislav Surkov.

Putin's system was also ripe for export, Mr Surkov added. Foreign governments were already paying close attention, since the Russian "political algorithm" had long predicted the volatility now seen in western democracies.

With a flourish he sponsored lavish arts festivals for the most provocative modern artists in Moscow, then supported Orthodox fundamentalists, dressed all in black and carrying crosses, who in turn attacked the modern-art exhibitions. @TheAtlantic

"It was the first non-linear war," writes Surkov in a new short story, "Without Sky," published under his pseudonym and set in a dystopian future after the "fifth world war":

"My portfolio at the @KremlinRussia_E and in government has included ideology, media, political parties, religion, modernization, innovation, foreign relations, and ..." - here he pauses and smiles - "modern art."

A ceaseless shape-shifting that is unstoppable because it is undefinable Adam Curtis

The underlying aim, Surkov says, is not to win the war, but to use the conflict to create a constant state of destabilised perception, in order to manage and control

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.1676

Dollar Index 94.261

Japan Yen 105.27

Swiss Franc 0.9261

Pound 1.2791

Aussie 0.7081

India Rupee 73.6476

South Korea Won 1170.415

Brazil Real 5.5095

Egypt Pound 15.7784

South Africa Rand 16.8429

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Waiting for tourists in southern Spain’s ghost coast Over 80% of hotels on the Málaga beachfront have closed @elpaisinenglish
Tourism, Travel & Transport

Sheets cover the lobby furniture and a deadly silence pervades the empty restaurant of the Hotel Amaragua. Outside, someone is removing the leaves that have fallen into the enormous swimming pool that is bereft of bathers, while the usual sun loungers have been stacked.

The deserted facilities at the hotel, which is one of the biggest in Torremolinos, a popular resort in Spain’s Málaga province bring to mind scenes from a horror movie. But this is not fiction; it’s a reality in which around 80% of the Costa del Sol’s hotels have closed their doors, without knowing when they might reopen.

“It’s horrific!” says Miguel Sánchez, founder of the MS hotel chain that owns the Amaragua. In 2019, they had 603 guests here at this time of the year. Today, as they close for the first time in 25 years, they have none. Like so many others, it has become a ghost hotel.

The knock-on effect means that, besides hotels, the entire tourist ecosystem, including beach bars, ice cream parlors, car rentals and souvenir shops, is teetering on the edge of disaster. 

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Emerging Markets

Woah. 200bps increase - wasn't expected by most. Not sure if Ankara will have given seal of approval here. 

But this is a strong step to trying to circuit-break $TRY depreciation / high inflation negative feedback loop

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''Rising pressure on African govt caused by the coronavirus pandemic is weighing on the domestic banks. This is because the creditworthiness of the banks is inextricably linked to the financial strength of the govt'' @MoodysInvSvc @FrontierAFR

''Rising pressure on African govt caused by the coronavirus pandemic is weighing on the domestic banks. This is because the creditworthiness of the banks is inextricably linked to the financial strength of the govt in the country where they are based.'' @MoodysInvSvc

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Nigeria is still in a tough spot: wide current account deficit, capital controls and possibly needing more devaluation. @SergiLanauIIF

At least from here oil output increases a bit according to the OPEC agreement but policy adjustment is unavoidable.

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#ImaOgide Waxaan Ahay (You don’t know me, but..) VIDEO PREMIERE Follow their journey here @XtremelySomalia @ArtchSomalia

Introducing Extremely Together Somalia - a group of youth in #Somalia fighting for peace all while smashing every stereotype you may have heard about somali youth.

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

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