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Archive for the tag “Bill Clinton”

First Responsible and Conflict-Free Artisanal Gold Supply Chain Operational in Eastern Congo (17.05.2017)

The Just Gold project is the first to successfully trace conflict-free and legal artisanal gold from mine site to export applying regional and international standards.

KINSHASA, Democratic Republic of Congo, May 17, 2017 –  Partnership Africa Canada (PACweb.org) today announced the Just Gold project has successfully implemented a system to trace legal and conflict-free artisanal gold in the Democratic Republic of Congo.

The Just Gold project began as a pilot in Ituri Province in 2015. Today’s announcement is a milestone for the project—moving it from the pilot stage—having proven a successful chain of custody from mine site to exporter.

“After almost two years of testing the Just Gold project with an aim to develop a chain of custody and due diligence system for artisanal gold in DRC, we are excited to share news of our success,” said Joanne Lebert, Partnership Africa Canada’s Executive Director.

“The Just Gold project can now move from a period of testing to implementation and ensuring we have a long-term, sustainable and viable solution for traceable, legal and conflict-free exports of artisanal gold from Congo,” said Lebert.  “We look forward to sharing our lessons learned with key actors and to deepening our collaboration with the DRC Government.”

The Just Gold project creates incentives for artisanal gold miners to channel their product to legal exporters—and eventually responsible consumers—by offering fair and transparent pricing and by providing capacity-building, such as technical assistance to miners in return for legal sales. Miners are taught better exploitation techniques and offered Juts Gold project equipment, in return for which any gold produced must be tracked and sold through legal channels.

“Proving that artisanal gold in eastern Congo can be conflict-free, legal and traceable is a major step in responsible sourcing efforts in the Great Lakes region. The government of Democratic Republic of Congo is taking major strides in complying with regional standards and demonstrating how the implementation the OECD Due Diligence Guidance for Responsible Supply Chains can contribute to progressive improvements in the sector, supporting artisanal gold men and women miners to enter international markets,” said Lebert.

Partnership Africa Canada signed a Memorandum of Understanding with the Democratic Republic of Congo’s Minister of Mines Martin Kabwelulu on September 2016, outlining support for the organization’s activities to strengthen natural resource governance. Specifically, the Ministry of Mines recognized the Just Gold project as a system of traceability and encouraged its implementation. Partnership Africa Canada has provided technical support to the Ministry since 2011.

Current activities in DRC include the Just Gold project, capacity building to implement both the International Conference on the Great Lakes (ICGLR) Regional Certification Mechanism (RCM) and the OECD Due Diligence Guidance applicable to high-value minerals, as well as support to civil society for monitoring and reporting on supply chain integrity.

Partnership Africa Canada has also undertaken research and analysis of the artisanal gold supply chain to understand women’s roles in the sector. Through sensitization and outreach, the Just Gold project improves awareness of women’s rights, and their right to access, control and benefit of resources. The project also supports and fosters women’s leadership opportunities through skills-building and training.

Partnership Africa Canada’s work in DRC developed from its engagement as a technical partner to the ICGLR, providing capacity-building to implement the six tools developed by the ICGLR’s Regional Initiative against the Illegal Exploitation of Natural Resources.

Funding for the Just Gold project and Partnership Africa Canada’s work in the Great Lakes region is provided by Global Affairs Canada. Additional funding for the Just Gold project is provided by USAID through the Capacity Building for Responsible Minerals Trade (CBRMT) project and International Organization for Migration.

Opinion: President Museveni said “I am tired” and want to indirectly reinstate the Movement System!

It is just one of these days when the President Yoweri Kaguta Museveni reveals that he wasn’t in favor of the Multi-Party Democracy, even if he claims to be elected and have credible elections abroad. It is always his vision and his perspective that matters, the others should just follow and listen to the high and mighty Musveni. No-one else has a vision like him and his party, which bow their knees, gets Presidential Handshakes and also kisses ring when they have too. That is something the Opposition MP’s doesn’t do, except for the “Good DPs” and the level-headed UPC MP’s. Still, he has something obvious to say today!

President Museveni addressing Bulago Primary School in Buyengo Sub-County in Jinja District:

I am tired of wars. I want you to vote for pro-NRM members of parliament like our party flag-bearer, Mr Moses Walyomu.” (…) “I don’t want to go back to the bush to fight again. Don’t send me people who will disagree with me in parliament. I fought in 1986 and I am tired.” (…) “He said people who are not of his party fear to discuss with him matters that are pertinent to the development of the country. And for that to be avoided, he will need Members of Parliament who share his ideals and vision for the country” (…) “He threatened that should Kagoma voters vote for an opposition candidate, their wish for good roads and other crucial utilities such as power will be no more”(Kirunda, Nakato & Katabulawo, 2017)

He is clear, if you disagree, that means war, not negotiations or discussions to find a level middle-ground. Since it is only one-man with a vision in Uganda, and that is the President. The Wonderful Dictator who is on his 7th Term, not 5th, even if he is rigged in 5 times in row. There was still a decade that gets shaved off in the calculation. I will write that until my ending. Since he deserves to count all years from 1986 and not only from 1995. While we are on that. Under President Museveni, there wasn’t always Multi-Party Democracy.

Three years after the Coup d’etat:

As already noted, the 1989 elections were held under strict anti-party rules since the NRM government had suspended all political party activities. Indeed, the Resistance Councils and Committees Elections Regulations, 1989, forbade all use of party symbols, sectarian appeals, and threats of force, the offer of food or drinks and the display of candidates’ posters. The absence of open campaigning made it impossible to discuss policies” (Bwana, 2009).

So as President Museveni forbade other parties and their political parties after taking power. He created together with the NRM/A a Movement System to control the local party politics and have structures that he could have oversight of from the State House. This was not a Multi-Party System. A special system that are now overturned into the Local Government system, still it is inherited by the RC system, that the party unleashed in the end of 1980s and tried for a long while. Explained by this Scottish student in 1993!

Importance of Movement System:

Two statutes, the Resistance Councils and Committees Statutes 9 (1987) and the Resistance Committees’ Judicial Power Statute 1 (1988), codified and expanded the system of local Resistance Committees that had sustained the NRA in its war against the second Obote regime. The genesis of the Resistance Committee system can be traced to the Mayumba Kumi (or ‘Ten Houses’) experiment of the UNLF in the early 1980s, which in turn was linked with the Tanzanian Ujamaa philosophy (Oloka-Onyango, 1989; Baringo, n.d.).” (…) “The RC statutes divided each of Uganda’s 34 (now 38) districts into 5 administrative zones; village (or ward in towns and cities), parish, sub-county, county and districts” (…) “The extent to which the RC system offers the levels of popular participation claimed by the NRM/A also requires consideration. The RC Electoral system operated in 1987, 1989 and 1992 of direct elections only at RC1 level means that the population is excluded at every stage from choosing candidates for higher office. This limitation on direct popular participation in the RC system recurs at a higher level where the links between RC4/RC5 and the NRC and government ministries become rather uncertain. By 1992, there existed no power of recall for members of the NRC beyond elections day itself” (Smith, 1993).

With all this in mind, the tiredness of having opposition. It seems that the President is ready to control the Parliament, the Local Government and have only local cadres that are his. The ones that he knows he can bribe and have under his structure. That means he wants to back to late 1980s and early 1990s when the Movement System and Resistance Councils were the thing. Where the Ministry of Local Government could fire a Resistance Councilor or others, if they didn’t follow the direct orders of the President and his State House. This seems real now.

This seems like the thing, as he wants to take away development and public service if they doesn’t follow his orders in the By-Election in the Jinja District. That proves the lack of democratic values and wish to honor the ballot. But hey, he has for 30 years rigged himself in and made sure his cadres has gotten positions, why else would Gen. Kahinda Otafiire still be a Minister? Not because of his brilliant intellect, but for his loyal assets and following orders of the President.

That President Museveni wants to have men and woman who listens to him and doesn’t challenge him. Therefore, he is telling in Jinja District, that he didn’t go to war in 1986 to have people questioning his rule. His legacy now will not be that he re-released the Multi-Party System, neither that he Constitution delivered a fresh start, as his lingering time in power. Proves that he has gone backwards and become alike the men he overthrew. There isn’t anything different between Dr. Milton Obote distrust in Institutions and Political Affiliations, the only difference is the names and the times. The misuse of army and police to harass the opposition is not different either. The use of government resource in elections are also facilitated for the Movement to counter the opposition. Therefore, the wonderful dictator is alike predecessors, only difference is his ability to overstay!

President Museveni is tired, because he cannot understand that people still question him. That people still doesn’t believe in his vision. That is because he forgot to deliver, he didn’t care to deliver and wanted all along to control it all from the Okello House. There wasn’t with prompt and glory that the Multi-Party Democracy became law, it was two elections and amendment of the constitution that the President didn’t want to deliver. President Museveni wanted it all inside the Movement and the Resistance Councils, which he could assess and control. So now he had to allow other people create their own parties, where they have their own guidelines and programs, not his! They doesn’t have his vision. That is so tiring for him. Therefore, he now want to return back in time, to the Movement System and the Resistance Councils.

He wants total control and he says it, because he is tired of men and woman who doesn’t accept his vision. The vision of looting, dismantling and disorienting the citizens for the wealth of the Museveni family. The rest is history, as the value of currency, the added state debt, the lacking of transparency and patronage is extensive. Therefore, he doesn’t want it question of his state and his system. It is all what he created and made over the decades as the supreme executive. Certainly, the glory days and the days of hope is gone. Just like the days stalwart Besigye would help the old-man creating the Resistance Councils as well. Peace.

Reference:

Bwana, Charles – ‘Voting Patterns in Uganda’s Elections: Could it be the end of the National Resistance Movement’s (NRM) domination in Uganda’s politics?’ (2009) – LES CAHIERS D’AFRIQUE DE L’ N° 41

Kirunda, Abubaker; Nakato, Tausi & Katabulawo, Andrew – ‘I don’t want opposition in parliament, says President Museveni’ (09.05.2017) link: http://www.monitor.co.ug/News/National/I-don-t-want-opposition-in-parliament–says-President-Museveni/688334-3919496-71atniz/index.html

Smith, Justin McKenzi – ‘Breaking with the Past – A Consideration of Yoweri Kaguta Museveni’s National Resistance Movement, and of social and Political action in Uganda during its government’ (1993) University of Edinburgh, Scotland, United Kingdom.

Opinion: Trump’s proposed Tax Reform is made for the wealthy and no-one else!

It is hard to take the “2017 Tax Reform for Economic Growth and American Jobs” that was released on 26th April 2017, a one page leaflet of wishes. This is shorter than most of the restaurant and they usually doesn’t have that many dishes to serve their clientele. Still, the Trump Administration and their “Treasury Secretary Steve Mnushin set out a test for tax reform that, “there will be no absolute tax cut for the upper class.” (Richard E. Neal – ‘President Trump’s Tax Proposal Another Broken Promise to the Middle Class’ – 26.04.2017). Still, with the first prospect of the wish-list of the Trump Administration is to give the rich less taxes.

An on a one-page wish-list you don’t really have the space or the care for describing the results, I look forward to read the CBO report on the proposed tax cuts. Since this should have some sort of implications, not only let the Manhattan elite afford yet another cabin in the Aspen or trip to Formula One in Monaco. They are speaking of easing the tax-codes and provide tax-relief for American families, without giving any specific detail into what that might be. I am sure the tickets of travel and the indispensable Secret Service guards to the golfing-weekends at the Mar-A-Lago in Florida has more explained reports, than these quick promises to the American families.

They are putting new brackets for the American families, also doubling deductions from the taxes and promise relief, without saying what this means, or if the families really get any serious cuts. While the Business get a shaved business tax rate from 35% to 15 %. One time tax on the Business Ownership abroad, to make sure the funds comes back into the United States. Last is to eliminate the tax breaks for special interest. So the last one, is to significantly add some tax back in the Internal Revenue Service.

So the little plan they have is to either cut and reform it minimally, while giving tax breaks to bigger corporations and the wealthy. The ones who already have the money and earns the profits, get to pay less, while the ones who needs or could have need of serious reform doesn’t get it. The ones earning on this wish-list is the Wall Street connected individuals, the Multi-National Corporations and the Limited Liability Companies (LLC). This sort of tax reform is made for the richest, not for the working class or the average voters who voted for the current President.

This is just another proof, that the President Trump isn’t there to drain the swamp or even trying to stop the major corporate takeover of Washington D.C. and the Capitol Hill. He is more of the same, just infused with less coded language and straight-face doubling down on the foreplay for the business executives. There isn’t anything in the works that proves that President Trump want to care about environment or health of his population over the profits of Goldman Sachs, Merrill-Lynch or any other significant private sector business operative like Exxon-Mobile. All of them will get the blessings and their days in the sunshine. As long as their Manchurian Candidate Trump are in office.

There aren’t anything that proves otherwise, his Executive Orders has been for easement of the businesses, not for the well-being of the population nor environment. The lacking care of the citizens and only caring for corporate citizens will clearly alter the pledges and promises. Certainly, the ones who voted for him should feel betrayed. The corporate greed in the United States is endless, as all the lobbyists, the paid senators, paid representatives and other legislators in Washington D.C. follows their donors more than the public. Just look at Ted Cruz record of praising the Mercer family and their values. Than you get a prime time example and all of the Republicans working for the Koch Brothers will.

The same is now happening from the oval office, with no restraint or any care of the consequence, if they fail or bitterly accept the truth. Doubt it, as they will double down and say it is for the common core, while the true tax cuts is for big-business and multi-national corporations who will have a surge of profits. The supposed trickling down theory will be put into play, while more of the monies will go into the pockets of the wealthy and the difference between the richest and poorest will grow even more. The lack of care from the state combined with the massive wealth, will really also destroy the society and make the ones left behind even feel more vulnerable, but that is not a concern the Trump Administration has. They only care for the billionaires and millionaires, not the ones living on food-stamps or on government subsidizes, as this government would easily have axed all of that.

I look forward to see the estimates from a real tax-plan from the Trump Administration, one with the implication and proposed reaction to the taxes and cuts. If the Trump Administration after these sort of cuts ever compare themselves to previous administrations and their cuts. They should be careful, as this will spike the deficit and the borrowing will grow enormously, into amounts that make the Democratic government look careful and fiscal sound. But it is only the Republican Presidents and Governments who is allowed to act as drunk dogs and then complain when the democrats doesn’t serve them at the last call. Certainly, this is the prospect of this sort of acts. This will not be for the American families, neither for the middle-class, this tax cuts are for the business owners and the wealthy who pockets dozens of millions on this without any consideration on fiscal funding of the budget, nor the expenses running the current government. But hey, Trump wants to downgrade the American economy and also weaken the dollar, so this might be one of the many ways he tries to do it. Kudos! Peace.

Rwanda 1994: Gen. Paul Kagame letter of 10. August 1994 (Confidentiel)

Opinion: Eric Trump are right, under the Trump Administration, the US is becoming a “Third World State”!

It’s really sad that we’re in an environment where tax returns are leaked by whoever it may be” (…) “Just think about it. Think about how dangerous that is, how third world that is on a practice that happened. When personal information is put out by people for political agendas. As a civilian, it’s actually scaryEric Trump on Fox News (Tani, 2017).

It is just one of these days where the sons of President Donald Trump speaks their mind and hits the nail. The nail is in the coffin, with the knowledge of the plans to make the republic less attractive, less business-friendly, more lassiez-faire and more focused on army than on progressive financial instruments and regulation to create growth. Trump Administration is busy with deporting millions, building a wall and starting trade-wars. The U.S. Government does not need to be transparent or accountable while doing so. Especially, not in the minds of one of his sons. That claims something unique and special. I have claimed in the near past that under President Trump, the U.S. Government could turn the Republic into a Banana Republic, a sort of style government that could be described by others as a third world one. Therefore, let the dictionary explain that!

Eric Trump needs a definition of the Third World:

1: a group of nations especially in Africa and Asia not aligned with either the Communist or the non-Communist blocs” (…) “2: an aggregate of minority groups within a larger predominant culture” (…) “3: the aggregate of the underdeveloped nations of the world” (Merriam-Webster).

So the United States can itself soon be fitted, not that it is an Asian or African nation, neither Communist, but still it is getting underdeveloped by the way the financial framework and industry is set-up under the Trump Administration. Where the Industry and Financial industry has the Administration by the balls and no eager of taking care of nature or the resources, except for eating the profits without giving anything back to the Republic. Just like the Oil Industry in Nigeria or in Ghana. The same as the mining and mineral industry in the Democratic Republic of Congo. So the United States under President Trump, will be similar. Eric Trump is not so far off, just not the way he thought he would be.

Another man’s vision:

This brings about complete dysfunction. It makes everything — economy, politics, roads, bridges, police, school — broken and shitty. Those who can leave do. Making it worse. This leads to more extremism, and more corruption, and more cynicism. And sometimes extreme violence. Because the other side becomes evil” (…) “The US has been shifting towards all four of these over the last 30 years, with inequality leading the way. We are more divided, economically and socially, then we have ever been (we are less divided racially. But only marginally so.)” (Arnade, 2016).

So when you have a system on the brink of collapse, a wealthy elite eating of the government plate and settling score to not pay their bills to the public, while the citizens and middle-class cannot build a steady life or afforded needed services, you know there are something wrong with the system and the state. That makes the Eric Trump words so right, that United States is becoming more like a third world country, with a sophisticated army, but cannot afford health care, schools or infrastructure. Just like the countries President Trump doesn’t want to affiliate with or been seen with. Since him and his advisor Bannon are supposed to be superior, and like a dictator in a Third World country, he believes he is always right and isn’t wrong.

So one smudge of evidence of his fathers Tax Returns from 2005 leaked to MSNBC Rachel Maddow, proves the realization of the state, that the Trump Administration would dislike. As they are not capping the debt, neither taking into account their ideas of taxation and tax-releases, as much as their will to deregularte industry and financial institutions. Therefore, leading the space of more expenses and negative environmental policies, that damage earth and only gains profit for a slim elite. Just like a Third World Country.

This is degrading for the United States, but the harsh truth, the ideas and policies in the making, the killing of health insurance, the idea of building the giant nuclear silos, while not paying for food for the starving. Proves that the U.S. Government are no closer to countries it does not want to be affiliated with, but still can be consider to be assimilated with. President Trump and his administration is clearly not wishing to be differing from chauvinistically taking charge and not caring what effect it has. Clearly, it is only his image that matter, just like any big-man and authoritarian leader.

So, soon we can say that the United States is underdeveloped and need aid, as their waters are daft, the industry is lacking technology, the roads are more potholes than tarmac, the bridges are weak, their railways not working and often not trusted. The United States has soon more expensive foreign imported goods, than what they produce and is losing money on their export of cash crops as soya and other grain. Therefore, President Trump leading his Republic to become underdeveloped or become a Third World Country.

Reference:

Arnade, Chris – ‘USA: A Third World Country in the making’ (05.10.2016) link: https://medium.com/@Chris_arnade/usa-a-third-world-county-in-the-making-14064ea5c534#.ah2gi0loi

Tani, Maxwell – ‘Eric Trump blasts Trump’s tax return leak on Maddow: ‘Think about how dangerous…how third world that is’ (19.03.2017) link: http://nordic.businessinsider.com/eric-trump-tax-return-leak-maddow-third-world-2017-3?

Merriam-Webster – ‘third world’ link: https://www.merriam-webster.com/dictionary/third%20world

Opinion: Suddenly President Kagame doesn’t want Rwanda to be dependent on the West!

For Africa as we wait to see what unfolds and adjust, we should be learning the lesson that we should not be entirely dependent. We will wake up to the reality there are things we should be doing for ourselves. You have made it appear that your situations are perfect and you want others to emulate you. Then you are surprised by what unfolds. It is what you have been hitting us with that is coming back to bite you. I did not change the constitution. If you want to know the truth you will find it is the people who did, not me. My satisfaction lies in the truth that we have not been involved in harming our people. What we are doing is to develop our country. If we don’t take care of ourselves, no one else will. As long as Rwandans are happy, we will keep doing what needs to be done. We will be listening to what others say but we will not be distracted from what needs to be done.”

-President Paul Kagame speaks to Gerard Baker, editor in chief of the Wall Street Journal, at the closing session of Invest in Africa conference.

President Paul Kagame of Rwanda, the long lingering Executive of Rwanda has compelled his words against dependency of the West. Surely, he has had this in mind for while in his own haven, as the Rwandan government has been a donor friendly. Therefore, that he claims now to take a stand against them shows the sudden change of attitude. However, it is sudden donors and programs that have stopped coming Kagame’s way, therefore the Rwandan government have started to run a giant tab of external debt instead of donor aid grants. Like look at some quotes from companies that establish the economic output and the financial flow of nations, like Deloitte and KPMG!

Rising debt:

“According to BMI, total external debt levels in the country have been rising steadily in recent years, from 16.1% of GDP in 2010 to an estimated 30.5% of GDP in 2015. Debt levels for 2016 and total external debt are forecast to amount to 35.2% of GDP and will be composed mostly of government debt” (Deloitte, P: 4, 2016).

Failing Foreign Aid, therefore rising debt:

“The primary headwind to the Rwandan economy in the 2016-2025 period will be the impact on debt as a result of falling foreign aid. Despite prudent fiscal policies to date, increases in debt levels will follow from the fall in foreign aid, since Rwanda is now deemed fit to transition from grant-based financing to loan-based financing by the IMF” (Deloitte, P: 5,2016).  “The government has been compelled to adopt a more prudent fiscal policy stance in an attempt to reduce the country’s dependence on donor support and increase fiscal autonomy. Recent external headwinds have encouraged the government to ease demand for imports by reassessing its infrastructure investment programme. This will undoubtedly have a negative impact on economic growth. That being said, the benefits of lower donor dependence and improved macroeconomic stability should outweigh the costs related to lower growth over the short term. Turning to external balances, Rwanda’s wide merchandise trade deficit is expected to maintain a shortfall in the overall current account going forward” (KPMG, P: 4, 2016).

“Aid harmonization has been improved and progress continues to be registered in the implementation of the Paris and Busan commitments especially the use of national budget and procurement systems. The Bank was the 6th largest Official Development Assistance (ODA) provider to Rwanda in 2013/14, accounting for 9.4% of total ODA26. The World Bank and EU invest in agriculture and energy whereas the leading bilateral DPs focus, among other things, on human development and social protection (Annex 8a). Annex 8b summarizes the progress made in implementing selected indicators as captured by the Donor Performance Assessment Framework. Use of the sector budget support (SBS) instrument has increased the share of Bank support disbursed using country systems. Under the DPCG, the Bank actively participates in activities to enhance the implementation of EDPRS II such as the 2014/15 assessment of SWGs” (AfDB, P: 9, 2016).

So if you look at the financial policies of the republic of Rwanda, some of it is not really chosen as the donors funds that has been suspended or stopped might be for several of reasons. That might be that if they accept the funds they have to follow a spectre of policies and interferes with the power that Kagame wish to achieve. The RPF and Kagame has total control of Rwanda, the export and the import, also owns dozens of the businesses. So the Rwandan government had to switch their economy with more loans, instead of donor aid. The loans are coming in through external debt as the external donor funds and grants have dwindled.

Therefore, the excuse of suddenly wanting to be independent is more a need, than a wish. If it was a wish earlier, than the AGOA or USAID to the RPF would have stopped decades ago. That should be common knowledge of the relationship between Paul Kagame and Bill Clinton. It is not that it is positive that the Rwandan Government want’s less aid is a healthy stance. Still, the excuse isn’t eaten by me.

The reality is that the increased debt instead of donor grants will hurt the economy, as the levied interest rates and other cost will hurt the economy. It isn’t healthy to be dependent of the aid either, but the reasons now seem more to reactionary than real intent. I am sure Paul Kagame would love funds from Belgium and France to build hospitals and clinics in rural regions of Rwanda. So, suddenly the West isn’t good enough, especially when they are questioning his reasons for staying in power and not having any successors while his regime is keeping a close lid on the opposition. Therefore, the economy and independent from the world becomes more important because then he needs to less show of transparency and accountability. Peace.

Reference:

AfDB – ‘RWANDA BANK GROUP COUNTRY STRATEGY PAPER 2017 – 2021 (October, 2016).

Deloitte – ‘Rwanda Economic Outlook 2016 The Story Behind the Numbers’ (June 2016)

KPMG – ‘Economic Snapshot H2, 2016 – Rwanda’ (15.10.2016) link:

https://home.kpmg.com/content/dam/kpmg/za/pdf/2016/10/KPMG-Rwanda-2016-Snapshot.pdf

Opinion: President Trump might have the most eloquent speech yesterday, still his acts is what worries me!

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It does not matter if he has the most perfect and most suited address of internal American matters or international yesterday in the Congress. That do not affect me B. Since his Executive Orders, Internal Memo’s and all the other tools that he uses to inflict harm and destroy humanity is that concerns a fellow brother like me.

I does not matter to me if he learned a few new words, spoke with his heart and blurred out some common sense yesterday. Since the lack of respect for intelligence and the lack of understanding of the reactions to his own actions are massive. The reason for the concern is the way he can easily pick something out of context and spread it like a disease.

President Trump, your Executive Orders and Presidential Memorandum is the ones that brings fear to me. The insulting ways of not caring what the experts in fields are saying and your lack of grasping the mentality of being the man-in-charge. The title is easy to carry, but to achieve something with honour and grace seems far-fetched at this point. Therefore, we are at crossroads, the crossing has already appeared and your methods are in use.

I cannot look out say since you said something beautiful yesterday and hopeful. Believe that tomorrow you will act like a man, who respect the constitution, international order and be civil. Since your ways is not like that and seems strange if that really would happen. You have an imagination and self-drive that is out of proportion. The sense of justification for your assaults on others is because you are always the victim, even when you strike first. Which is insulting to the rest of us seeing the whole ordeal and hearing it by all cable-TV.

So that you believe in yourself that you can as a PR stunt in a first Presidential Address take away the inflicted pain and suffrage you have already caused, that is not possible. There is a long way, but your immigration rules, the way you have been fixing the ICE agents procedures and attack on anyone questioning your reasons. Does not rule high in my book of proverbs. More likely shows the lack of morals and the lack of integrity a man of Presidential stature is supposed to have.

President Trump and his administration do not care about the effects as long as the rich multi-national companies earns fortunes, if you spill oil in rivers, frack the Midwest like a Swiss Cheese or even put trade-embargoes on Mexico and Canada, who cares as long as Goldman Sachs or any other big financial organizations earns huge profits. The pain of the ordinary person is not important. Therefore if 20 million Americans lose their health insurance is not that important, but what is important is that they pay for their coverage and get rid of the ones that should not have the ability to covered anyway. That is a true American spirit and wishful society, where the wealthy get yachts and hotels, while the poor has decide if they can by McDonalds burger or medication for their daughter. What a wonderful picture of the new America First.

Certainly, Trump must be so brave to take away the help to the poorest, the ones in need so he can spend fortunes upon fortunes on ammunition, guns and hi-tech military equipment, that is how nations is built. Out of the ashes of war and despair comes the grand fortunes of corruption and multi-million progress salvage pack bought and greased by American business. A favourable package for Trump and financial market friends.

Therefore, the words and speech of hope or whatnot yesterday does not matter to me. Because I cannot believe it or think that, it is true. Since his Executive Orders is to free-market policies or to give way to deport, detain or stop immigration at a scale in modern history that cause havoc. Together with the current political climate and the scales of internal conflict, it does not serve the United States, neither the world.

You can in theory claim that a potato is not a potato, still when you look at it and touch it. You know deep in your heart it is a potato and your mind remembers how a potato feels in your hand. Even if Trump now speaks of peace, promise of better day and of another to make America First. Trust me; I do not trust him, not a single bit. That is because of his acts and the way he does not give in. That is why he has in the past always taken things to court and appealed until the others have given in to a settlement instead of what they was entitle to get in the first place. Trump have manoeuvred that way in the past. So why should the old man change now?

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I will not be shocked if read soon more disturbing Executive Orders where the Immigrants and their access to American soil is a danger to all of society, a cost and burden on all sort of employment. Therefore, I do not trust the man. Since his time as President the efforts to humans who flee wars for safe haven has been shut, the deportation with ICE agent has escalated and the reality of the economic is already starting to be shaped. A nice little speech is not changing my perspective on the man. Unless, the man retracts the Executive Orders, stops the internal memos and just stop with rhetoric of his. However, the old man will not do that, since it is not his way.

So please, do not tell me there is new Trump. Glean and Clean Trump does not exist and is not real. It fake like his tan. If there were a new Trump, it would have the changed and begged sorry to some of the people he really has offended. That is not him. We all know that my now and we know that he will not do anything about that. Unless, Bannon or one of the other wise guys at the White House says so.

Well, enough of the nonsense? Not yet! We have so many more days of this administration. Therefore, there will be more of this and this gravy train of ignorance and blatant disregard of decency will not decay, more it will sprite up some more juice and call it soup. Peace.

Two Executive Orders from Trump that proves his laissez-faire free-market not caring for federal regulation of big-business!

trump-quote-2016

President Donald J. Trump has decided to the man and leader who love giant corporations and their needs first. Therefore, this February Trump Administration has yet again opened the doors for Business and big corporations to get free space to do their work without interference of the state or federal regulations. Trump wants business to be so free and without taxes, so the wealthy can be stinky rich without considering how they make their fortunes. Therefore, he has already loosen up with Fiduciary Duty Rule, where the investors get good advice or advice that might be better for the consumer, not the ones the wall-street trader or banker earns the biggest profit on and the consumer losing all their savings in. The second is that Trump will continue to cut strings and regulations. Take a look!

“The Department of Labor’s (Department) final rule entitled, Definition of the Term “Fiduciary”; Conflict of Interest Rule — Retirement Investment Advice, 81Fed. Reg. 20946 (April 8, 2016) (Fiduciary Duty Rule or Rule), may significantly alter the manner in which Americans can receive financial advice, and may not be consistent with the policies of my Administration” (E.O. 03.02.2017).

“You are directed to examine the Fiduciary Duty Rule to determine whether it may adversely affect the ability of Americans to gain access to retirement information and financial advice. As part of this examination, you shall prepare an updated economic and legal analysis concerning the likely impact of the Fiduciary Duty Rule, which shall consider, among other things, the following:

  • Whether the anticipated applicability of the Fiduciary Duty Rule has harmed or is likely to harm investors due to a reduction of Americans’ access to certain retirement savings offerings, retirement product structures, retirement savings information, or related financial advice” (E.O. 03.02.2017).

So you can see that advice from traders and bankers are getting freer so the U.S. Citizens can get bad advice that the crony capitalist earns on and the consumer loses their savings. They can give advice on investment portfolio that has problematic structures that even could be similar to subprime mortgage loans and the housing bubble of 2008, which started the economic recession. Therefore the ignorance of this proves that the President cares more about Goldman Sachs and other big multi-national banks. Their power eats the White House. Therefore the Trump administration has more plans that was unleashed on Friday!

On revising regulatory rules for business:

“By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to lower regulatory burdens on the American people by implementing and enforcing regulatory reform, it is hereby ordered as follows:

Section 1. Policy. It is the policy of the United States to alleviate unnecessary regulatory burdens placed on the American people” (E.O. 24.02.2017).

“Each Regulatory Reform Task Force shall evaluate existing regulations (as defined in section 4 of Executive Order 13771) and make recommendations to the agency head regarding their repeal, replacement, or modification, consistent with applicable law. At a minimum, each Regulatory Reform Task Force shall attempt to identify regulations that:

(i) eliminate jobs, or inhibit job creation;

(ii) are outdated, unnecessary, or ineffective;

(iii) impose costs that exceed benefits;

(iv) create a serious inconsistency or otherwise interfere with regulatory reform initiatives and policies;

(v) are inconsistent with the requirements of section 515 of the Treasury and General Government Appropriations Act, 2001 (44 U.S.C. 3516 note), or the guidance issued pursuant to that provision, in particular those regulations that rely in whole or in part on data, information, or methods that are not publicly available or that are insufficiently transparent to meet the standard for reproducibility; or

(vi) derive from or implement Executive Orders or other Presidential directives that have been subsequently rescinded or substantially modified” (E.O. 24.02.2017).

If you wonder what this means is that the Trump Administration is working on getting rid of certain financial regulations that is not benefitting the business community, the big-banks and the reforms that is done to secure a stable economic policies, to prevent bubbles and other openings that hurts the economy. Trump Administration rather wants to open all doors and believe fewer regulations are good and greed will create a prosperous society. Therefore, you can expect them to dismantle or repeal the Dodd-Frank regulation that can be summarised like this:

“Generally, the Dodd-Frank Act imposes more stringent regulatory capital requirements on financial institutions. The Act requires that the Council make recommendations to the Federal Reserve regarding the establishment of heightened prudential standards for risk-based capital, leverage, liquidity and contingent capital” (Morrison & Foerster, 2010).

This is seen as preventive for economic growth, even as the numbers and statistics haven’t showed lacking results of the business in the United States after the legislation came to pass. The Banking institutions haven’t lacked funds or investment opportunities in the republic. So the need to repeal or to take away the clear cut regulations of Dodd-Frank is more of ideological belief, than a systematic defaults of the added regulation to make sure the banks and corporations follows guidelines for their investments and follow the standards the Federal Reserves has put. This was put into a new law by the Presidency of Bill Clinton and called the Gramm-Leach-Bliley Act or the GLBA.

This can be summarised like this:

“The Gramm-Leach-Bliley Act makes the most important legislative changes to the structure of the U.S. financial system since the 1930s. Financial services firms will be authorized to conduct a wide range of financial activities, allowing them freedom to innovate in the new economy. The Act repeals provisions of the Glass-Steagall Act that, since the Great Depression, have restricted affiliations between banks and securities firms. It also amends the Bank Holding Company Act to remove restrictions on affiliations between banks and insurance companies. It grants banks significant new authority to conduct most newly authorized activities through financial subsidiaries” (…) “Removal of barriers to competition will enhance the stability of our financial services system. Financial services firms will be able to diversify their product offerings and thus their sources of revenue. They will also be better equipped to compete in global financial markets” (Clinton, 1999).

So surely Trump seems keen on following the traits of William Clinton or Bill, who had his ways of opening the markets and making sure the big-business didn’t had to have issues with regulatory business, giving bankers and banks more power and have more involvement with more financial instruments. Therefore the banks could sufficiently control more of the financial transactions and instruments to earn even bigger profits without any concern of the federal state regulatory bodies. This is one of the reasons for the Dot Com crash and the Subprime Crash of the recent decades, as the banks could easily transform business and create markets without any consideration of the small-investors, the citizens or the ones losing in the banking crisis of 2008. This is scenario coming up if the Trump Administration opens up and repeal the Dodd-Frank Act. There are another one he might look into that has also regulated the businesses in the United States, this being the Sarbanes-Oxley Act (SOX), which can be explained like this:

“Sarbanes-Oxley established the Public Company Accounting Oversight Board to regulate public accounting firms that audit publicly traded companies. It prohibits firms that audit publicly traded companies from providing other services to the companies they audit, and it requires that CEOs and CFOs of the publicly traded companies certify their companies’ annual and quarterly reports. The Act authorized the Securities and Exchange Commission (SEC) to issue rules governing audits” (…) “The law requires that insiders may no longer trade their company’s securities during pension fund blackout periods. It mandates various studies including a study of the involvement of investment banks and financial advisors in the bookkeeping and recordkeeping scandals that motivated enactment of the legislation. Also included are whistle blower protections, new federal criminal laws, including a ban on alteration of documents” (FDIC – ‘Important Banking Laws’ 20.07.2015).

“That aspect of flexibility—being able to exempt some smaller companies from the mandate and make it easier for others to implement—is an important quality to keep in mind when we discuss future regulation,” says Srinivasan, who also cites the important role of the Public Company Accounting Oversight Board (PCAOB), a nonprofit private corporation created by SOX that oversees auditors of SEC-registered companies” (HBS Working Knowledge, 2014).

Certainly the review and the Trump Administration want are lacking accountability and freer market, total lassies-faire economy without any interference. Certainly if they could they would get rid of commissions and regulatory bodies that also interfering in the businesses of the United States…? Therefore, if SOX and Dodd-Frank acts are repealed or replaced with soft laws that opens the gates for free-for-all instead of economic regulations to safety the investors, the banks and the consumers. That would generate more trust for foreign investment and also of the consumers that want to be sure of their savings. Well, that is all a foreign opinion and understands of the world for the Trump Administration, an administration that is a corporate stooge and a not so invisible hand of Corporate America. Certainly Wilbur Ross and Steve Mnuchin will work for more open markets where the giant multi-national businesses get more freedom and less taxes, so profits can hopefully sore and the American consumer can be more rid-of-the-short-change in their pockets.

So if certain laws cease to exist or get repealed, if they get amended to a pointless state or even get new fancy laws made for big-business from Congress, don’t be surprised all the corporate stooges and well-wishers from the big-banks are all settled there, in the interest of capital donors and the republican super-PACs that want their reimbursement for their investment into the politician, certainly the Koch brothers and Mercer’s of this world want the gates open and market to sour for them. Not matter what cost or how many who loses their savings, as long as the wealthy are getting wealthier. Peace.

Reference:

Executive Order – Trump, Donald J. – ‘SUBJECT: Fiduciary Duty Rule’ – White House, United States of America (03.02.2017)

Executive Order – Trump, Donald J. – ‘ENFORCING THE REGULATORY REFORM AGENDA’ – White House, United States of America (24.02.2017)

Clinton, William J (Bill) – ‘Statement on Signing the Gramm-Leach-Bliley Act (12.11.1999) link: http://www.presidency.ucsb.edu/ws/?pid=56922

HBS Working Knowledge – ‘The Costs And Benefits Of Sarbanes-Oxley’ (10.04.2014) link: https://www.forbes.com/sites/hbsworkingknowledge/2014/03/10/the-costs-and-benefits-of-sarbanes-oxley/#77656419478c

Morrison & Foerster – ‘The Dodd-Frank Act: a cheat sheet’ (2010)

Opinion: Mzee must have angered his donors when seeing the dwindling budget support for FY 2017/2018!

M7 26.07.2016 P2

I haven’t been much focused on the budget for 2017/2018 because the more I know, the sadder I be for the citizens of Uganda. Since the revelations of the use of funds and allocations are usually not in sync. The allocations and maladministration is so rampant that the allocated funds are most likely spent on other projects than we’re they was anticipated to be. Either saves a Bank with owners tied to Museveni or to pay for gasoline for his Presidential Jet. Who knows right?

Well, we know that over the past few months and year President Yoweri Kaguta Museveni has attacked the hypocrisy and the West for interfering in his democracy. Mr. I-Am-Not-A-Civil-Servant, but I am your President. Since there are some questionable things in Uganda National Budget Framework Paper of December 2016. That are putting numbers for how they see fit for the government use of funds.

Key numbers:

Area FY 2016/2017 FY 2017/2018
Budget Support 926,6bn 33,8bn

This numbers says a lot of the usual donor-friendly regime of Museveni, which has been since he was the new-breed of African leaders that was even praised by Bill Clinton during the 1990s. Therefore the revelation that over a year period the donor-funding to direct budget support is scrapped says something. That of 30 Trillion budget of 2017/2018 is only getting meagre sum of 33 billion. That is just a few Presidential Handshakes to loyal cronies an then they are spent!

President Museveni must really angered and made them tired of throwing monies at his regime since they are not as friendly with their taxpayers monies as before. I am sure they have another cause and another country that they are doling their budget aid funds to. Now they are not directed at the NRM or the Mzee who certainly eats more alone. Peace.

Michael Moore: ‘100 Days of Resistance’ Starts With Inauguration | The Last Word | MSNBC (Youtube-Clip)

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