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Satchu's Rich Wrap-Up
 
 
Wednesday 17th of November 2021
 
Morning
Africa

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^DXY Chart @Bellehos 95.96
World Currencies

Conclusions

[As I said ad infinitum and ad nauseam] REGIME CHANGE

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[AND A REGIME CHANGE IS UNDERWAY] There is no training โ€“ 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. @ptj_official
World Of Finance


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.



Conclusions



Interesting the Infection happened in the bond and rate markets and has now spilled over into FX 

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


And below captioned is my favourite musical snippet of recent times 

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COVID-19 infections are still rising in 51 countries. @ReutersGraphics
Misc.


15 countries are still near the peak of their infection curve

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Nations w/ new record daily COVID19 deaths past week @jmlukens
Misc.


Russia: 1,212
Ukraine: 861
Armenia: 70
Mauritius: 27
Belize: 21
Burkina Faso: 13
Cyprus: 10

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Nations w/ fast COVID avg death/day increase past 2wks @jmlukens
Misc.

Czechia: 248%
Hungary: 188%
Slovakia: 128%
Croatia: 107%
Austria: 107%
Netherlands: 105%
Poland: 96%
Germany: 82%
Georgia: 73%
South Africa: 71%

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.1301
Dollar Index 95.945
Japan Yen 114.864
Swiss Franc 0.9311
Pound 1.3452
Aussie 0.7296
India Rupee 74.3665
South Korea Won 1182.34
Brazil Real 5.5323
Egypt Pound 15.7394
South Africa Rand 15.52

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In 1998, Prime Minister Margaret Thatcher told the House of @HouseofCommons โ€œThere is no way in which one can buck the market.โ€ from Monday, August 13, 2018
Emerging Markets

He said, “Don’t get high on your ambitions. You won’t be able make money on the back of this nation. You won’t be able to make this nation kneel.” [They have already made a ton of money and you are kneeling, Mr. President]
And then ‘’Even if they got dollars, we got ‘our people, our God’’’ [In the markets that is called a ‘’Hail Mary’’ pass]

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Africa is currently reporting a million new infections about every 82 days @ReutersGraphics
Africa

All countries are currently below the peak of their infection curve.

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Our revolution is bulletproof. @LaurenBinDC
Africa

#Sudan's protest movement puts out a new series of videos, in English here, about their ongoing response to the #SudanCoup:

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JUN-2019 :: Hugh Masekela said I want to be there when the people start to turn it around. Sudan is a Masekela pivot moment.
Africa

The "zeitgeist" of the Revolution in Khartoum was intoxicating
As I watched events unfold it felt like Sudan was a portal into a whole new normal.
And now we have two visions of the Future. One vision played out on our screens, the protestors could have been our wives, children.
The other vision is that of MBS, MBZ and Al-Sisi and its red in tooth and claw.

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The revolutionary contingent attains its ideal form not in the place of production, but in the street
Africa



“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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Army shot live rounds at protesters in Lagos 'massacre' -leaked judicial report @Reuters
Africa


The report described the incident as a "massacre", said most of the army officers deployed to the Lekki Toll Gate were "not fit and proper to serve" and recommended prosecuting certain policemen for their actions.

"At the Lekki Toll Gate, officers of the Nigerian Army shot, injured and killed unarmed helpless and defenceless protesters, without provocation or justification, while they were waving the Nigerian flag and singing the national anthem and the manner of assault and killing could in context be described as a massacre," the report said.
Spokesmen for the military, police and Lagos state government did not immediately respond to requests for comment. Both the military and police had previously denied firing live rounds.
The report also said that there was an attempt to cover up and conceal the incident, including by police officers who picked up bullets and state agencies who cleaned the scene, and summoned army officers who did not appear before the panel.
It further said that the army, invited in by Lagos state, did not follow its own rules of engagement. It said soldiers turned back ambulances from the gate in a "cruel and inhuman" act that contributed to protester deaths and casualties.
It identified 48 "casualties", including 11 killed, four missing and presumed dead and multiple who suffered gunshot wounds. It added that nearly 100 other unidentified corpses in Lagos state could also be linked to the incident.

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The IMF [@IMFAfrica] says no to Zimbabwe: @MwangoCapital
Africa


"...the IMF is precluded from providing financial support to Zimbabwe due to an ๐ฎ๐ง๐ฌ๐ฎ๐ฌ๐ญ๐š๐ข๐ง๐š๐›๐ฅ๐ž ๐๐ž๐›๐ญ ๐š๐ง๐ ๐จ๐Ÿ๐Ÿ๐ข๐œ๐ข๐š๐ฅ ๐ž๐ฑ๐ญ๐ž๐ซ๐ง๐š๐ฅ ๐š๐ซ๐ซ๐ž๐š๐ซ๐ฌ"

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Kenya Debt Costs to Rise as Shilling Hits All-Time Low Against the Dollar @markets
Kenyan Economy


Kenya’s debt service costs, which are expected to surge by 22% this fiscal year, are set to rise even further as the East African economy’s currency sinks to all-time lows against the dollar.

Kenya’s Treasury expects to spend a record 1.17 trillion shillings ($10.4 billion) in the year through June on loan repayments, equivalent to about two-thirds of its revenue, according to the parliament’s budget office

This will be compounded by a 2.6% depreciation by the Kenyan shilling so far this year, after the currency fell to 112.06 per dollar.
In the previous fiscal year, Kenya’s debt repayments jumped by about a fifth to 781 billion shillings on account of the local currency’s depreciation, according to Treasury. 

The shilling plunged 7.4% in the year through December, hurt mainly by the uncertainty wrought by the Covid-19 pandemic.

“Recent exchange-rate fluctuations have been more modest,” Tobias Rasmussen, the International Monetary Fund’s resident representative for Kenya, said in an emailed response to questions. 

“We continue to view that maintaining exchange-rate flexibility helps the economy absorb potential shocks.”
Slightly more than half of Kenya’s debt is held in foreign currencies. The proportion of external debt in U.S. dollars was 66% by June 2021, and 19% in euros, according to the Treasury.

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#Kenyaโ€™s Draft 2022 #Budget Policy Statement shows that the #fiscal_deficit target of 7.4% of GDP in FY2021/22 could be missed. The target has been revised to 8.2% of GDP @PatrickHeinisc1
Kenyan Economy

#Kenya’s Draft 2022 #Budget Policy Statement shows that the #fiscal_deficit target of 7.4% of GDP in FY2021/22 could be missed. The target has been revised to 8.2% of GDP, followed by a more aggressive consolidation path.

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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November 2021
 
 
 
 
 
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