Bank of Uganda Scandal: BoU Confidential Memorandum – “Removal of Documents from the office of Mrs. Justine Bagyenda located at Plot 45 Kampala Road without following the Bank procedures” (10.05.2018)

Opinion: BoU illicit acts was accepted by the regime for decades!

The Bank of Uganda (BoU) have during the last two weeks shown it blatant side and also its frauds to the public. As the acquisitions of failing Banks hasn’t been done with procedures or protocols. They have not acted in good faith. They have acted ill-willed and certainly not considering that their actions would be looked into. As they was the buffer for the state and the Movement itself. While they could monitor and configure the acquisitions of these failing banks.

That the leadership of the BoU are a proof of the how the state are triggering themselves on the common market. It is a rodeo, it is the Wild West, where the biggest head are getting the stakes and hopefully nobody will look into the transactions. That was until the Parliament and the Parliament’s committee on commissions, statutory authorities and state enterprises (Cosase) started to question the acts of the Bank. The realities of how the BoU has acted.

They can not hide it under the rug. This all is happening because the BoU couldn’t explain the transactions and trade-off with the recent Crane Bank. That is why they are looking into Greenland Bank, International Credit Bank, Cooperative Bank, Global Trust Bank and Teefe Bank. The BoU even sold three banks to Ghost Companies not existing, that was based on Mauritius. Which, shows how the leadership have failed their role or if not laundering money for the high above.

As well, as the most striking feature, is not only loosing the documentations for the COASE Committee in the recent takeover. But the evident acts of not having the assets, the inventory or even following any procedures doing so. What is worse, the lack of oversight or even critical eyes by the Parliament or even the Ministry of Finance, Planning and Economic Development (MoFPED), as these should have seen it coming. They should wonder why securities, the statutes and the banks was sold without the procedures and needed clearances. This to secure the clients and also the assets of the banks.

It is like they have closed into thin-air, in major heists of the elites, where the BoU have used their tools of disposal, to clear the tenant’s and their liabilities without any scrutiny. Clearly that has been the message, as the Banks have been lost, but been transferred to new homes. These homes has gotten the fortunes or their assets without the BoU could tell what they pushed further. Even selling it to companies not existing.

That the BoU have problems are clear, but they are like the state in general. Who has Ghosts everywhere and creates them for a reason. To hustle and create ghosts to earn more on non-existing projects, this has been there as long as Museveni have been president. It is just a proof of illicit and the problems of society in general. BoU is just a mirror of the administration, of the government and the backwards ways to grabbing money, while the honest are thieved.

The BoU have all been wrong, done it horrific and massively underestimated their history, their practices and the realities, which they now suffer. Certainly for a reason. If the President wants to get rid of one of the leaders within the Bank. This is the sort of scandal that clears the house. But these transactions and these sort of activity will not go away. As the elites and the Presidency has accepted this for decades. This has been done since before the millennium.

Therefore, it will be more skeleton released and show more disgraceful acts from the BoU. They have done it, because the regime has earned on it. If not these practices would have been gone long time ago. Then the Special Force Command would have ambushed the Bank and barricaded it. Peace.

Uganda Local Government Workers Union (ULGWU) letter to PM Dr. Ruhakana Rugunda – “Reminder: Remunerations Enhancement for Local Government Workers” (29.08.2017)

#BoUPens: BoU bought cheap Cross Ball-Pens for a fortune!

I hate to say it, but the magical pens from the Bank of Uganda (BoU) wasn’t a fairy-tale as expected. It was a cheap corporate pen, that was bought for astronomical sums. They are not so expensive after all. It is Cross Rolling Ball Pen Nor Onyx AT0155-1, the price of this not as high as the Bank paid for it. Unless, they wanted to pay of their importers major profits, however, the Bank must have connections with the traders who sold it to them. If not, why did they pay so much for Cross Ball Pen in the first place.

First, the social commentary from earlier this month:

“Hey, Bank of Uganda, the glorious BoU, if you ever need any sort office equipment. I can sell it to you and at lesser cost. It will be fraction of the 357,000 Uganda Shillings per Pens or 125m shillings for 350 pens. At the dollar-rate, you paid $105 United States Dollar for each pen, they must be magnificent and the best pens ever made for the mankind” (Minbane – ‘ Opinion: Bank of Uganda must have bought magical pens!’ 16.08.2017 link: https://minbane.wordpress.com/2017/08/16/httpwp-mep1xtjg-5gh/ ).

Than, by the price of $105 USD for every single Cross Ball Pen, which was made in China. These Ball Pens are really overpriced. On the American Amazon.com price are $36.62. The Amazon product explanation: “Onyx black resin finish with polished chrome appointments – Click off cap accented by a wide chrome band and a sophisticated perforated clip design – Includes one black gel ink rollerball refill (#8523) in pen – Cross Rollerball pens can be converted into a ballpoint pen or creamy porous felt-tip pen by changing the refill to desired type of tip (Refills sold separately) – Presented in a gift box” (Amazon – ‘Cross Aventura Onyx Black Rollerball Pen (AT0155-1)’ link: https://www.amazon.com/Cross-Aventura-Black-Rollerball-AT0155-1/dp/B0017UGOZC).

So if the Bank of Uganda are importing the pens, than the price would go up. Both most like not cost more than maybe around $60 USD a pop. Clearly, the BoU are liking the idea of the overpaying the pen. The Bank might have bought it from places like Corporate Gifts Pens, there they would get discounted for amounts of pens they would by. That is like if they buy over 100 pens, around $24,79, so the price of pens would be cheaper. Even engraved pens cost added on that page $5 each, that means the price would be around $29,79.

Still, with that the price difference are $70-75, which has to paid extra to the providers or suppliers. The government and the Bank of Uganda must be really proud of who they bought it from. If not, the Chairman or the leadership of the BoU really know the family or written-off the profits to paid their mortgage.

This here was not about quality or unique pen. Just a very ordinary pen. Not even in the quality of the Parker Pens. The BoU has really scammed the people and the Bank doesn’t care about the misuse of state funds. Peace.

Opinion: Where did the Statesmen go?

There is a lot’s of Members of Parliament, lots of cabinets and governments with Ministers smiling and making nonsense claims or laws for quick popularity instead of long-term care of their citizens. That is why I write today, because this is international issue, where did the honorable elected person who actually gives a damn go? Do they hide in cave in Afghanistan or is it in tiny local council in Dublin? I just have to ask as the assets and the capital are spoilt, bent or betrayed by the same persons who are supposed to represent us. First let me explain what a Statesman is… and be clear this is not done in my words.

Meriam Webster says this: “a usually wise, skilled, and respected government leader” (Meriam Webster). Another dictionary says this: “a man who is a respected leader in national or international affairs” (Vocabulary). Some qualities many people agree that a Statesman should have is: “Principles”, “A Moral Compass”, “A Vision” and “The ability to build a consensus to achieve that vision” (McKay, 2012).

With that in mind you have a lot of expectation of a man or woman to be respected and qualities in the leadership from the person. There are not easy being resourceful, have the ability to govern and become respected. The ability and skills comes from the person and the respect. The respect comes from the ones the statesmen actually govern and international community.

The statesmen isn’t like the Members of Parliament (MPs) and Ministers of our day. There might be a few exceptions but our society is so quick and so microwaved. The news and the decisions are taken out of nowhere. What is worrying is how the multi-national companies (Like Royal Shell, Amazon, Monsanto and others) and multi-national organizations (World Health Organization, World Bank and International Monetary Fund). That together with International trade and Unions (NAFTA, European Union, ASEAN);  who keeps forging the sovereign nations under siege by trade-regulations and the restrictions on the nations who complies with laws they set.

This here is with all of this in mind together with the endless cycles of elections that the politicians have in mind. The initial issues with the access to the media as the live-TV and debates, together with Social Media and even radio programs; there are these where their legacy and character are on display, together with the initial reporting on what they are doing in their councils or parliament. The Politicians have aspects as they supposed to be loyal to the party organization and also to the constituency.

The people who read the papers, the articles, listen to the radio and watch TV are the ones that will discuss these politicians and vote for them. They are the ones responsible for their existence if they are real elections then the ballot will pick the men and be tallied right. If they are rigged in and selected by a committee or an Executive, then they never will be statesmen; as they never have the moral compass to even show respect to the ones they represent.

An initial position for them is supposed to be the Representatives of the citizens or the constituency. These people who are supposed be leaders and take decisions where the end-game are supposed to be for the better for the citizens and constituency. In our time, the MPs and the Politicians are more into their own career and their own capital than the ones they are supposed be there for. Many of them could just been lobbyist and work for corporations instead of the chambers where they represent a district or a county.

When it is like this with the bottom-line is their own personal wealth instead of the moral judgement, when the words portrayed and pledges given are for fitting the times and popular judgement of the times instead of longevity of the constituency and nation. That is what is missing. So few politicians of our time is gambling their career for the common good or the care of their constituency; with that in mind the level of trust between politicians and the people are low.

The low trust is because politicians are not who supposed to be, they are either biased by the structures over them like the European Union or the Multi-National Companies who are controlling their judgement. The judgement and the laws set to regulate the actions of the Politicians are altered as they are usually the ones that set the standard and are the lawmakers in the Nations. That is why they need to be men of vision and moral capacity to create a consensus with others; this is because it is also agreed upon by the other parties and also with the other people who elected them.

Now that I have the bar; take shot and sit down. I have already black-balled a generation as we have inherited this, the parliament didn’t sit there all of sudden, as much as the books we have in our libraries with common knowledge didn’t happen to jump into the houses. All of this got created over time and with capacity and tender hesitation of what we wish for. This is because we as citizens have to take more care of the parties and politicians around us, as they are a reflection of our societies and the ground-level we all build. We cannot be bushwhacked by strangers, we have to make sure the policies and a law they creates is the ones that are accepted.

Because a true statesmen are the ones that makes a mark on our time; the ones that are not a politician who are just popular, but will be remembered for making the decisions that maybe was hard at the time, but on the long-term making sure that the nation and constituency got better or made progress. That is why we have politicians, they are not there to be kings and queens, be lords and honorable men who think they can run us naturally. Certainly they cannot, they are there because of us; if they do not serve us and they are not useful for us.

What I miss as I see in a Statesmen, is not take the popular decisions or the one in the time, but the ones who are there now is more politicians who thinks more about polls and elections cycles, than being about the people they represent. That they are pressured by the Multi-National Companies and International Organizations who putting pressure on them as well, but they shouldn’t bend backwards for these, as they doesn’t represent Brussels or Coca-Cola, but they represent their constituency.

I want a politician I can remember for having the balls to think about how the decisions will be remembered in 20 years and if it will be setting the standard for the ones after him/her. That is a statesman, who is somebody who actually cares about the real future, not next election cycle, not only the persons own career and also the clarity of the ramifications of their acts as representatives. So with this in mind, do you feel the same or am walking alone in this tabloid world of quick headlines and quick careers; instead of building nations and being gentlemen of the board and take charge of what is left of it. Peace.

Reference:

Meriam Webster ‘statesman’ link: http://www.merriam-webster.com/dictionary/statesman

McKay, Brett & Kay – ‘The 4 Qualities of a True Statesman’ (30.01.2012) link: http://www.artofmanliness.com/2012/01/30/the-4-qualities-of-a-true-statesman/

Vocabulary – ‘Statesman’ link: https://www.vocabulary.com/dictionary/statesman

#PanamaPapers: A little reflection on the reason why these operation exisist and thrieving on the Fortunate

For those who have been surprised by the recent allegation and findings in the #Panama Papers that incites lots of politicians, the general elites and businessmen connected close to the governments. The money always talks, the money always moves and by any means possible.

For the wealthy and close connected they have the ability to forge networks and find businesses that earns coins on helping to move that money. But that is not for the ordinary people, as we pay a fortune to use RIA or Western Union to move between usually loved ones. But the Panama Papers are for whole other ordeal.

This here is for Tax Aviation’s and getting rid of extra burdens on the solid amount money they have gained. The persons and companies are set-up Shell-Companies to stack up money in British Virgin Island (BVI), Panama or Luxemburg. As this places doesn’t have that many inhabitance or sheep to earn money on, they earn tiny percentage on being “big-banks” for all kind of operations, while securing that the companies and persons involved can keep it discreet and silence. Until cover-ups like the recent ones shows the true color of the amount of money, that are dished away. The money that are stashed-away is millions upon millions of American Dollars; dipped away in a treasury chests that most economies would dream of having in circulation!

That should not be surprising as all of well-known government leaders are setting up and making it possible to have sophisticated economic systems that cross-borders for the benefit of trade; while these are used to ship the money from the places that have initially no taxes and programs that made up to build societies. This is also the places where they can have it without any concern, except some extra sunshine and a family resort at the beach, though I would not consider that in Luxemburg, unless suits and gas-stations are your thing.

The business-men and government officials, even relatives usually walks around with that without problems for decades as the banks, and the legal advocates set-up this fixed businesses to secure the fueling of their money. The worst thing is the loopholes and the ways that this decisive methods to undermine the local public to create and secure more funds for already wealthy clients. Where the bank as HSBC and lawyers of Mossack Fonseca divided fees to pocket the money that the client needed to send away from the shores and country-sides; where the money was raised and earned. While getting away from local agony of having fortunes and paying taxes on the high-incomes earned to the local communities.

If you we’re shocked of the values and the persons that was involved in the scandal of late, I wasn’t as the government officials, presidents sons and daughters; kin and other close connections have always gained extra through the cronyism or nepotism have been a thing since the Roman Empire, and does not stop any time soon. That the President Museveni of Uganda owns businesses and would have dashed a fortune for his grandchildren in an tax-haven through multiplied shell-companies. The same would not also be surprising on the Kenyan President Kenyatta who recently brought Sameer Diary and Livestock Limited who sells ‘Fresh Diary’ in Uganda through his company Brookeside. Surely his kins and family have some money abroad to secure in dire times might come. The same is certainly with President Kagame, who even been seen during the scandal that RPF-Elite men have been insiders in the scandal, as President Kagame have control and ease over it; surely he would skim over the top and gain some extra funds as the Executive. Similar is it in Democratic Republic of Congo where President Kabila sister is central profile in the scandal and shows how the monies and funds appear in tax-havens as she owns businesses and also the centralized economy around nepotistic and cronyism. Something that should not  be shocking for anyone.

What this scandal shows is the amounts and estimates, this is through to major companies who serves this clients that are close by this totalitarian and big-men leaders who have close connected with central industries as they have to be granted and get contracts with government to drill oil, mining or even gain markets in the countries. With that power comes also embezzlement, kick-backs and percentage of the top that get skimmed through the advanced economic products that the blue-collar lawyers and bankers offers; they do that legally, but in a moral grey area as this thieving of government controlled funds in the name of the beneficiary or the shell-company in discreet secrecy. It’s not only dictators and their wives who are into it, I am sure if it wasn’t for the failed ‘Wonga Coup’ Mark Thatcher would still be up to game as the son-fallen from grace and proud family tradition; as even David Cameroon have been put into the mix. There is no shortfall when it comes to greed, and corporate greed never stops.

As the world leaders tries the best to hide their businesses and ownership through shell-companies and strawmen, or getting a cousin to run the business kind of like what Trump does to his son, just a little more subtle.

The governments are taking the sides of happy uncles as they all tries to open trades with tax-havens to keep businesses in their countries. The Companies who in many countries are seen as “Legal Person” can own land, own other businesses and be sued. Certainly with that power as stakeholders and shareholders does not care about other things than the bottom-line, they want to sell or sell enough services so that their earning a profit, by any means. That is why big businesses have been taken for tax-evasion in the UK this was Amazon and other online-retailers as they we’re officially legal unit in a tax-haven and not in the United Kingdom, though the products bought on Amazon was sent from a warehouse in UK, and sent to UK houses. The transaction between costumer who got the book from Amazon payed to a British account, but before the cash kissed the taxation to the Government of UK, it was sent to multiply Amazon shell-companies before ending at a Tax-haven. So that the United Kingdom get only pennies in tax compared to the Pound Sterling the UK state was supposed to earn from the Amazon LLC. That is just an example, but still important as a precise maneuvers the companies and international companies do, so they does not pay full-taxes or truthfully through sophisticated economic programs and revisions get the monies through foreign banks and tax-havens with help of legal teams in companies similar to Mossack Fonseca.

How to set up shop:

The LLC and Shell Companies will be used in market strategies as ghost straw-men for the owners sending monies through networks of intricate syndicates and money-laundering operations; That make Uncle Scrooge or Scrooge McDuck wishing he was a real person and not a cartoon character made up by Carl Barks in 1952; instead he is owning a Oil Company drilling oil in either Kazakhstan, Nigeria or North Dakota. Where he got the proceedings through UBS AG or HBSC; where the profit gets through manufactured holding companies and sent to BVI or Guernsey; where the McDuck Oil Company has headquarter, by official paperwork. That paperwork is written and made by lawful actions through Mossack Fonseca; while most of the Blue-Collar men are working in the unofficial Headquarters in the heart in the City of London or New York. But their taxing is little or near none there, because of McDonald Oil is fixed in Guernsey; Where they only have a Post-Box at the island; which by my reckoning would forward the mail to London or New York as the employees would actually be there.

This is a way of getting the bottom-line and the more of the ends directly to the stakeholders and owners of these companies tries to advance with this opportunities, that we the ordinary citizen, commoner, person or fellow human being would not be offered, since we don’t have the money to fix this or hire these men to forward our money, as we need the cash we have to get a home rent or buy, get food on the plate, pay electricity, airtime, taxes and then trying to get a chocolate bar once in a while. There is where we are. The once who was surprised about these papers have had too much faith in their rich, the elites and the once who has fortunes. They do not want to share that fortune that they have earned on our governments and our consumption; while trying to avoid giving something back to society, and giving the government more funds to develop the society the rich are doing business in. Peace.

#Enditmovement – Information slide

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Mens man venter..

Her sitter jeg og venter på forelesning. Ender opp med å drikke opp kaffien.

Bli så sittende å se på Amazon, der jeg ender opp med å kjøpe enda en komplisert politisk analyse av DRC. Ikke minst også kanskje en tegneserie av Batman, for å veie opp for den andre. Vil jo ikke bare være en bok nerd i min nye bolig. Som student trenger man noe annet enn pensum. Selv om man venter, og vet at det som bestilles kommer tidligst om ti dager, hvis du er sykt heldig. Og man har liggende bøker som burde vært lest for ett år siden eller to. Så utsettes det fordi, denne boka virker mer spennende. Selv om den andre er ansett som en klassiker og bygger videre for dagens tankegang blant mange kjente allvitere. Ingen grunn for hvorfor jeg har ventet. Bare at det kommer nye filmer, bøker og hendelser. Slik som i går var det av sted til Herdla og Ramsøy med kamerater. Så det nedlagte og nesten operative torpedo anlegget på nordsiden av Askøy. Noe som gjorde at pensum og morsom lesning ble satt på vent. Fordi det var åpen dag og ville ikke gå glipp av dette. Selv om det sikkert mulighet senere.. til våren eller når enn de frivillige har mulighet! Så må man jo! Da man venter. Utsetter. Forventer at boken skal dukke opp i hendene dine. Til de svetter, slik som de gjør når du har sittet og spilt på Playstation i ett par timer. Den samme følelsen venter du på, at hendene dine skal svette og slite arkene i boka.  Galskap, bare som gleden av åpne en bok og se kaffi merke, kanskje også lite sjokolade merke på enden av siden. Fordi da vet du, at du har brukt tid på å lese og nøyt pensum. Noe som er dessverre en sjeldenhet, selv om man burde være takknemlig for å være student og kan lære fag som forhåpentligvis kan brukes i yrkeslivet. Eller bare gåte hvorfor systemet ser denne karakteren eller filosofen som viktig. Opplegget blir da kvasi og du lurer på om du kaster bort din tid. Mens du sitter venter. Av og til er det sunt å filosofere. I mellomtiden får man skaffe mer kaffi og stikke til forelesning.  Ha en hyggelig dag!