Opinion: Speaker Among cannot save face…

“If there was any diversion, it is not anybody’s fault, I saw iron sheets in Bukedea, I didn’t ask for them, but I ordered that they should be given to schools innocently. I didn’t open a shop to sell them, but they were given to government schools.” Among told Parliament last month. While chairing Wednesday’s plenary, Among told Parliament that she had decided to purchase 500 iron sheets and return them to the OPM to clear her name out of accusations that she had diverted the iron sheets meant for Karamoja’s vulnerable people. “l don’t want to be accused of grabbing iron sheets meant for the vulnerable people of Karamoja.” Among said” (Samuel Muhimba – ‘Among buys 500 iron sheets for OPM to save ‘innocent’ face’ 15.03.2023, Nilepost.co.ug).

The Speaker can all “innocent” she wants to try to save face. Speaker Anita Among is amongst a “den of thieves”. They did divert funds and equipment meant for the hungry, the poor and the ones in need in the Karamoja sub-region. Instead of going where it should be… it ended up elsewhere and some of that ended up in the hands of the speaker. She is just like the rest of them.

Speaker Among can act holier than thou, but she should apologize and “carry the cross”. This is her burden to bear. She accepted the iron sheets and took them when it was done in secret. However, when the reality hit public, and the scandal was official. She wanted to clean her hands of the dirt and come clean. Nevertheless, that is not how the story goes and she cannot reimburse what she has already stolen.

A chicken thief must answer for the stolen chicken. The speaker has to answer for the iron-sheets. The chicken thief will face the penalty and the punishment for taking the chicken. The same should happen to the speaker, the ministers and everyone involved in the iron sheet scandal of Karamoja. It should happen, but I wouldn’t count on it. The difference between them and the chicken thief. Is that the Chicken Thief has no suction, no power or influence, but the thieves in this saga does…

She knows she will face no consequences and what her master knows is that she’s corruptible. Meaning that her master can wave some monies or golden tickets her way. When doing so, she will do whatever he pleases and get his way in Parliament. That’s why she will face no trouble, no legal jeopardy or even taste “justice”. No, the chicken thief will linger in prison and face severe time in prison. While the Speaker can steal and take from the state with no further consequences or ramifications to her career. No, it doesn’t cost her anything…

Speaker Among can try to save face, but it’s pointless. She still stole and took unjustifiably so. The iron sheets wasn’t hers to begin with. Just like the others who took from the “aid” to Karamoja. All of them are thieves and they should accept that. Thieving is thieving no matter how you put it. It wasn’t even that sophisticated or a strategic measure to siphon funds from government accounts either. It was just blatant theft of government property to personal use. That’s it… and the Speaker cannot be run away from that now. Peace.

Mali: Communique No. 047 du Gouvernement de la Transition (15.03.2023)

Opinion: All the Republic needed was a photograph…

Look at this photograph

Every time I do, it makes me laugh

Every time I do, it makes me” – Nickleback – ‘Photograph’ (2005)

Today the First Vice President and fellow other dignitaries in the Freedom Hall launched the first of its kind. The Revitalized – Transitional Government of National Unity (R-TGoNU) has launched the first Presidential Portrait of His Excellency Salva Kiir Mayardit. After all these years in office and in transition. The Government finally has a photograph and a frame, which the President is reflected kindly in.

Instead of finishing legislation and proper institutions. The state is busy finding out which suit the President should wear and from what angle his face looks the smartest. They have the time and the ability to pursuit this endeavour. Before following any sort of vital stipulation of the R-ARCSS. A peace agreement which is already on the overtime of the overtime. It is passed two or three deadlines and still no end in sight.

A portrait or a picture of the President isn’t solving anything. This isn’t helping the stalemate or the issues within the R-TGoNU either. The FVP haven’t resolved the grievances with the President yet. The President can still live by decree’s, but that doesn’t make his action any better.

This portrait is just the proof of the mismanagement and lack of priorities. This political elite will not solve or implement anything useful. No, this will just stall and buy time. That’s what they have been busy doing for years.

What has happened today will make no difference and people will pay it no mind. Yes, the government offices will get a new picture. Some is even stating that it’s the same that has been since 2005. I don’t know about that, but if it is… that is truly amazing and genuinely stupid to launch an 18 year old portrait in 2023.

Well, that is enough rubbish for today. This shouldn’t be thing, but we know President Kiir has no plans to retire or to give way to a new generation. No, they want to prolong their time in office and there is no end in sight. Today is just another proof of that, even if he wasn’t there himself to officiate his own portrait.

It is an epic failure and not matching the significance of everything that isn’t working in Juba. The government of South Sudan should fix other issues. Instead, they framed a portrait and called it a night. Peace.

South Sudan: SPLM-IO – Central Equatoria State – Office of the State Secretary – Ref: Political Campaigns Rallies in Central Equatoria State by the SPLM IG (15.03.2023)

South Africa: African National Congress (ANC) – Address by ANC President Cyril Ramaphosa to the Communist Party of China (CPC) in Dialogue with World Political Parties High Level Meeting (15.03.2023)

Syria: Joint Statement by the UN RC/HC a.i. for Syria, Mr El-Mostafa Benlamlih, and the RHC for the Syria Crisis, Mr Muhannad Hadi, on the 12 Years’ Anniversary of the Syria Crisis (15.03.2023)

Malawi: UN Malawi calls for urgent action to support people affected by the Tropical Cyclone Freddy (14.03.2023)

Opinion: A growing banking crisis…

“Let us not bandy words. We have [created] a new kind of bank. It is called too big to fail. TBTF, and it is a wonderful bank” – Congressman Stewart McKinney (1984).

“2023: Banks failed because they were holding Treasuries and MBS

1965: Banks failed because they were holding Certificates of Deposit” (New Low Observer, 14.03.2023)

The downturn and the insolvency of Signature Bank, Silvergate Bank and Silicon Valley Bank is all significant. It has structural issues, as well as fiscal and possible ramifications far from the shores of the United States of America. These banks are connected in a huge and vast system where liquidity and risky business transactions are happening accordingly. This is all spreading the risks, the investments in government bonds and other financial instruments to possibly secure profit for the shareholders. However, these can default, get costly and lose value when the bonds rates are growing and your stuck with old interests’ rates on the set-bonds. That’s what is happening, and you are losing the trust between the banks and the national reserves selling government bonds.

These American banks was allowed a lot of freedoms and liberties with their holdings. In such a manner, that was opened up in the previous administration. The Dodd-Frank Act was gutted and given the banks less regulations over their business. Therefore, they could take huge risks without any strings or conditions, neither a clear oversight body from the Federal government. Which in the end cost it dearly. In the beginning after lobbying for it… it was profitable and good business. However, now we are seeing the costs of these operations and why the banks are out of business.

These three banks will not only hurt the ones who used these banks for payroll, accounts for their operations and whatnot. There are so many companies and tech-start-ups that will be hurt by the SVB alone. This will further cause harm to the digital space and their innovations, as this part of the economy has already been hit over the last few years. Where we are seeing major companies already sacking and ceasing certain parts of their operations to cut away additional expenses.

We can see the damage it does when Credit Suisse is being hit and lose confidence. It is just showing how the dominions are hit and is in play. Now the burden of the liquidity pools, the customers taking out their funds or moving them to securer accounts. If not they are trying to find other measures or safer bets in the markets. This is all showing the weakness and the lack of funds within the banking system, which isn’t tied up to long-term bonds or yields; that isn’t as viable or valuable as they were last year. It is all ending up to a costly enterprise and the taxpayers are the ones that could lose it all. Since, the banks could be bailed out, but the small earners and customers of the banks aren’t the ones who is getting their monies back. No, that will be for the big-men and the ones who has risked it all – gambled the money and been earning vast profits in the sunshine, but they cannot manage the rain.

The crisis in the banking industry isn’t not only based on the lack of trust or the risky investments with people’s savings. No, it is the lack of cash on hand plus the initial investments into long-term bonds or financial instruments to supposed secure a safe return on the already invested funds in a bank. When the people and businesses hear news of lacking funds and lack of liquidity. They all bomb-rush a bank to take-out or move their funds. Which makes the bank insolvent, when it cannot meet its obligations or pay-out other clients of the bank. That’s when they are forced to close and end their business. This is what is happening these days and it’s crushing it.

We should be worried because this is spiralling in the markets. More and more places are fragile. There is a lack of fiscal funds and of due diligence in the banking sector. They have been able to get away with taking huge risks, but not having back-up or additional funds to cover losses. That is in the end biting the hands that feeds it. Since, they are risking the savings and the funds of businesses using the banks. While not considering the implications of investing these funds. Losing its value and struggling to get rid of old bonds or other assets, which have been the case yet again.

There should be worries on the horizon. The loss of funds, the sudden insolvency and the urgent movement of capital from one bank to another. The risks of further contagions across the banking sector is there. Not only because of the devalue of old government bonds, but the lack of fiscal funds for all the deposits or funds, which the customer is supposed to be able to get. That’s why the banks are failing, and they are not strong or has enough cash-flow on hand. Which is in the end destroying them from within. Peace.

Mali: Communique de la Coordination des Organisations de l’Appel du 20 Fevrier 2023 pour Sauver le Mali (14.03.2023)

Maldives: Joint Press Statement – Transparency Maldives and Maldives Journalists Association express concern regarding the proposed amendments to the Election (General) Act 11/2008 (15.03.2023)