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Thursday 16th of June 2022
 
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Africa

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May 29 Vanity of Vanities! All is vanity
World Of Finance


May 29 Vanity of Vanities! All is vanity


Cummings continues
Blofeld: Kronsteen, you are sure this plan is foolproof?
Kronsteen: Yes it is, because I have anticipated every possible variation of counter-move.
Politics therefore suffers from a surfeit of narcissists.
The occupants of No10, like Tolstoy’s characters in War and Peace, are blown around by forces they do not comprehend as they gossip, intrigue, and babble to the media.
The MPs and spin doctors steer their priorities according to the rapidly shifting sands of the pundits who they are all spinning, while the pundits shift (to some extent unconsciously) according to the polls.
The outcome? Everybody rushes around in tailspins assembling circular firing squads while the real dynamics of opinion play out largely untouched by their conscious actions.
In terms of a method to ‘manage’ government, it is not far from tribal elders howling incantations around the camp fire after inspecting the entrails of slaughtered animals. 
Layer on top of this a highly managed media construct which is essentially a Claque where alternative voices are deplatformed and we have an environment which was accurately described thus by @FukuyamaFrancis
The democratization of authority spurred by the digital revolution has flattened cognitive hierarchies along with other hierarchies, and political decision-making is now driven by often weaponized babble.
At a time when what is required is agile multi disciplinary thinking we have ''weaponized babble''
Less than two months ago The ''Leader of the Free World'' President Biden said his sanctions against Russia would “reduce the Ruble to rubble” and this has happened
The Architect of the Sanction warfare program said 
The @POTUS Official Who Pierced Putin’s “Sanction-Proof” Economy @NewYorker [4]
Singh said, “We’ve made him stare into an economic abyss. But he could choose to pull back.”
The markets are where these two systems touch—the supply of buckwheat, the joint energy ventures, the price of the ruble—and within this arena the sanctions were a demonstration that Washington still had levers to pull.
“You know, we can play chess, too,” Singh said. “It was important for us to show that the fortress could come crumbling down.”
The geoeconomic debacle is off the scale.  

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The Swing by Kabir Songs of #Kabir
Misc.


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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Currency Markets at a Glance WSJ
World Currencies


Currency Markets at a Glance WSJ



Euro 1.038845
Dollar Index 105.285
Japan Yen 133.7045
Swiss Franc 0.982535
Pound 1.208865 
Aussie 0.697495
India Rupee 78.07465
South Korea Won 1291.165
Brazil Real 5.0540154 
Egypt Pound 18.776378 
South Africa Rand 15.93000 

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The last time the Fed hiked 75bps, the IMF had to bail out Mexico. @zerohedge
World Of Finance


The last time the Fed hiked 75bps, the IMF had to bail out Mexico. @zerohedge


Conclusions

I remember that day in 1994 like it was yesterday. I was running an Emerging Markets book and that event triggered the Tesobono crisis. 


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The Tequila crisis in 1994
Emerging Markets


The crawling peg of the Mexican peso (figure 1) is under fire. Not only does the US Federal Reserve raise its policy rate by 250bps during this time span, Mexico also suffers from political homocides in the lead-up to the presidential elections later that year. 

Foreign exchange reserves therefore decline rapidly (figure 3). In April, to stop the outflow of foreign currency, the Mexican government issues short term dollar denominated debt, called tesobonos. 

As investors buying the tesobonos are protected for a potential devaluation of the peso, the outflow of foreign currency stops, while the foreign exchange rate stabilizes. 

However, in November USD 3bn is pulled out of the country, of which USD 1.6bn on a single day (18 November).

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Beheadings Show Militant Peril Persists for @TotalEnergies in Mozambique @business
Africa


Beheadings Show Militant Peril Persists for @TotalEnergies  in Mozambique @business 


A fresh wave of attacks by an Islamic State affiliate in northern Mozambique has prompted the evacuation of the nation’s biggest solar power plant and threatens to further delay TotalEnergies SE’s $20 billion liquefied natural gas project. 
Forces from Rwanda and a southern African regional bloc have helped retake towns from insurgents who’ve been wreaking havoc since 2017, largely securing a coastal stretch around Total’s project. 

But violence has recently spiked, spreading to new areas near Pemba, the Cabo Delgado province’s capital, and causing panic as IS disseminates photos of bodies it says were beheaded by its fighters. 

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