Category: Sub-Saharan Africa

Turkey Donates $50M for Nyala Hospital

Khartoum – The Minister of Finance and National Economy has reiterated its commitment to indigenizing medical treatment.

The Minister of Finance Ali Mahmoud while meeting at his office a delegation from the Ministry of Health and International Cooperation Organization, pledged to consider best ways to operate Nyala hospital constructed at $50million dollars donated by Turkey.

He commended Turkey’s efforts to support health sector in the country, the hospital which was established according international standards aims to serve efforts to indigenize medication reduce burden of cost of treatment overseas for the residents of the state. Mahmoud expected that the hospital will also provide services to neighboring countries.

Bahar Abu Girda, a doctor, announced that construction of the buildings of the hospital and installment of equipment was finished, expecting the hospital will be operational two days, adding that the Turkish prime minister will grace the event after signing a protocol between ministries of health in the countries. Girda said operation would start with joint staff from both sides for a period of five years to exchange experience before the hospital is handed over to Sudan.

The Turkish side is committed to supply more than half of operation costs for said period and contribute along with the administration of the hospital to provide qualified medical personnel for the agreed upon period of five years.

via Sudan Vision Daily – Details.

December 9, 2012
Turkish Red Crescent & Istanbul Municipality to reconstruct Mogadishu

Mogadishu (RBC Radio) Turkish Red Crescent and the IBB will work together in the construction of roads and pavements, collection of solid waste, environmental arrangement and the erection of an industrial site.

50 construction machines and trucks from Turkey have been brought to Mogadishu to be used during construction activities.

In order for the project to advance, the IBB will send a team of 100 experts to Somalia in the next few days.

Speaking to Anadolu Agency (AA), an executive with the IBB, Kamil Kolabas, said that they wanted to turn Mogadishu into a modern and contemporary capital.

“The construction yard we will erect will be a site where concrete, paving stones and asphalt would be produced. The construction yard will serve Somalia for a long time. We work to see Mogadishu as one of the modern capitals of Africa,” Kolabas stressed.

An executive with the Turkish Red Crescent, Mumtaz Simsek, stated that the construction yard provided jobs to 250 people.

Once the project has been completed, Mogadishu will become a contemporary city, Simsek also said.

Source: Anadolu Agency

via Turkish Red Crescent & Istanbul Municipality to reconstruct Mogadishu | RBC Radio.

November 15, 2012
New jobs for Ugandans in Turkey

By Patrick Jaramogi

Trade between Uganda and Turkey has been bolstered further following the signing of an agreement between the Turkish Trade Union (HAK-IS) and the National Organisation of Trade Unions (NOTU) from Uganda.

The two leading trade unions agreed to boost cooperation in the areas of socio- economic life of the citizens of the two nations.

Mahmut Arslan president of HAK- IS signed on behalf of the Turkish government while Usher Owere signed on behalf of NOTU.

“We are aiming at developing bilateral relations to exchange information and experiences of works of confederations,” said Owere Usher Wilson NOTO chairman General.

He said following the signing of the agreement in Turkey last week, NOTO and HAK-IS agreed to exchange trade delegations to learn more about labour life and trade union activities.

“We shall provide and exchange consultation services as well as training of experts of the two unions this new opportunity will create more employments for Ugandans in Turkey,” said Owere.

The two trade unions also agreed to ensure good social security for the workers of the two countries by following up on recent developments of policies in each country.

Owere noted that following the global economic crisis, many workers, the world over were facing challenges due to massive job losses.

“As a result of the world economic troubles, millions of workers are losing jobs at a terrific speed. In the developing countries; Uganda in particular, the informal sector is increasing while the formal sector is shrinking,” said Owere.

He told the Turkish unionist that Government had deliberately refused to effect the Minimum wage legislation arguing that Minimum wage is a disincentive to foreign investment.

“Trade Union Movement is operating in a very unfavorable environment. We are currently having an agenda of re-branding ourselves, recruit more members and have a voice that the Government can respect. But we have still have challenges,” he said.

via New jobs for Ugandans in Turkey.

October 31, 2012
KUNA : Turkey denounces recent air strike on Sudan – Politics – 27/10/2012

ISTANBUL, Oct 27 (KUNA) — Turkey condemned on Saturday a recent air strike that targeted a weapons plant in the Khartoum region.

Anatolian News Agency, citing a Foreign Ministry statement, said Ankara “strongly denounces the bombing of the Sudanese plant that killed two persons and inflicted massive damage.

Turkey “awaits revelation of identity of culprits of this attack,” the official statement said, re-affirming support for Sudan.

Sudanese officials accused Israeli Air Force of staging the attack on the factory for manufacturing weapons and ammunition, and vowed to retaliate in kind.

Tel Aviv has remained tightlipped regarding the strike, the third of its kind on targets on Sudanese territories.

In April 2011, Sudan accused Israel of being behind a mysterious air raid against a vehicle that killed two people in Port Sudan. A similar attack was carried out on a weapons convoy in eastern Sudan in January 2009. (end) ta.rk KUNA 271122 Oct 12NNNN

via KUNA : Turkey denounces recent air strike on Sudan – Politics – 27/10/2012.

October 28, 2012
It Can not happen to Me Chapter 18

IT CAN NOT HAPPEN TO ME. GUESS WHAT? IT WILL!!!

Chapter 18

The SHADY SIDE OF SILVER

While everyone seems to ignore the casino atmosphere of the securities markets worldwide, there is a time bomb about to explode.

The volatility of the silver futures market is like bungee jumper without a rope.

It seems a complex game, but when you break it down, we all going to pay the devil. We all know it is wrong, but few speak up.

For starters , The Federal Reserve Board of the United States and other central bankers around the world are keeping their funds which they transact business with other member banks artificially low. This was done during the banking crisis, but they have failed investigate the abuses.

One glaring abuse is a major bank can “borrow” a million dollars and with high frequency trades [i]and short the silver contracts on the COMEX .[ii] They are selling contracts that they do not own. Another scheme is to place factious orders to sell to scare the buyers away. This drops the bids temporarily low. In an nano second the computers cancels the sells and instead buy at the depressed prices. These trades place an artificial cap on the price. Now the computers , some instances are trading among themselves with no human benefit.

AS is the case of silver, the industrial demand far outstrips the world’s supply. The total amount used is 755.7 million ounces. Here is the breakdown for industrial uses. One can quickly observe that over half is for industrial use.

Silver has unlimited applications in science, industry and art plus investments. Total demand in 2010 was 487.4 million ounces for industrial use only. 167 million ounces were used for jewelry and 101.3 million ounces were used in medals and coins which were probably increased in 2012 because of the Olympics. Silver is used 1000 ounce bars for industrial use. There is about 1.25 billion ounces of silver in the entire world in 1000 bars. These bars are not just floating to be plucked out of thin air. They are often broken down for use in computers and solar panels and mirrors just to name a few.

J P Morgan Chase was reported to be short 95 million ounces as of August 18, 2012. The 8 largest silver traders are short 40.9% of the entire COMEX future trading on a net basis. These contracts are in 1000 ounce bars. This will take over 100 trading days for them to cover(buy back) their shorts sales. This could be the straw that broke the camel’s back as far as inflation is concerned.

When industrial users discover they might have a delivery problem they more than likely double order. This in itself will put added pressure on the shorts and send silver on a par with gold. There is three times more gold around than silver. If silver ever reached the price of gold, forget the Euro and everything else. Heaven Forbid!!!

What one can do. Own silver for cash only. NOW

What the authorities must do worldwide.

Raise Interest rates NOW.

Abolish margin rates NOW.

Bring back the uptick rule NOW.

Reinstate the usury laws NOW.

Hire outside Law firms that will sue or try violators ona contingency basis. There only fee will be a fee based upon a predetimined percentage of the judgement. If they loose – no fee. This will give would be violators second thoughts of breaking laws.

Finally go back to chapter one and review every chapter that I have written so far

Cheerio !!!

COMEX(Commodity and metal exchange) offers gold, silver, copper and aluminum contracts as well as FTSE Eurotop 100 and 300 stock indices.

[ii] High frequency trades (HFT) are done by computing an allogrintem into a computer program that will trade silver contracts in nano seconds. This can also be done by posting factious offerings to scare away would be buyers causing the security to drop in value quickly. Then in a nano second it will buy back the security. The difference in sale price and buy price is the profit. Using a million dollars on margin; fractional change in price can be a tidy sum. It is estimated that 80 to 90% of all trades are now HFT’s.

August 19, 2012
It Can Happen to Me. Guess what? It Will ! Chapter 17 Breaking Up the Banks

IT CAN NOT HAPPEN TO ME. GUESS WHAT? IT WILL !!
Chapter 17 Breaking Up the Banks.

“A GREEDY MAN BRINGS TROUBLE TO HIS FAMILY, BUT HE WHO HATES BRIBES WILL LIVE.” PROVERBS 15:27 When an industry is at the top or number one it has no place to go but down. This has been my observation for over 55 years. In the US Army it is called OJT (On the Job Training). WE as citizens going into our local bank should be warned WATCH OUT- THERE IS NO SUCH THING AS FREE LUNCH.

Albert Einstein said man’s greatest invention is compound interest. Banks love it when they can put it to use to an unsuspecting public. Any funds one gets to work down the principal will find that it has expanded. At some point one will not be able to pay that principal or off.

A funny thing happen on the way to the bank. They did it to themselves. Easy credit will kill the goose every time. You see in order to gain more wealth , banks had to issue more debt in order to lend more. GREED – it is a killer. Once one starts making and spending money; one needs more. It is at the very top that one takes chances in order to gain more. Usually these chances are at the detriment of us the average citizen trying to provide for a family.

The names of Corzine, LIBOR, JP Morgan-Chase; Dimon and Weill mean little to the average citizen-until they want to pay off debt. This is when the “Rule of 72” comes into play. It is very simple. Just divide the interest rate you are paying into 72. Your answer is how many years the bank is doubling its money on you. So if you are paying an 8% mortgage for 30 years divided by 72 is every 9 years. To me that seems fair because you are using the banks money. Credit cards can work on a monthly basis and now one is “going where no man has gone before”-STAR TREK. Once a debt is in outer space it is up to the courts (and the courts have to follow the law) the debtor is a pawn to spineless attorneys who seek a quick reward for returning a pittance to the lender. This is legal larceny and a USURY law supported by all nations would halt this practice and create more jobs and distribute more wealth over a wider area.

Once a bank has you in their indebtedness you lose your freedom. The more debt you take on; the deeper the hole you are in. If you are a lawmaker, one should open their safe deposit boxes. IN the days of yesteryear, politicians would accept tax free municipal bonds, but today they have to be registered. Now one finds cash that has been unreported?

So Nothing big can happen until elections are held, because it is more likely that the legislators involved with any kind of finances are on the take. So our votes are very important. We must elect enough new members that a group can control any committee. This has to be done in a bipartisan spirit.

So to break up the banks in a meaningful term we must have a majority turnover in world wide elections. WE must enforce a strong Usury Law for the protection of us all.

When JP Morgan has outrageous short positions in Gold and Silver futures on the COMEX and the CFTC is powerless to enforce them against this giant bank. The CFTC entire budget is around $200-$300 million while JP Morgan could spend $5 billion defending their illegal position. When a giant bank can out maneuver their government of laws – the bank should be broken up rather quickly.

My next chapters will have to do with the brokerage and financial management part of the break up.

August 9, 2012