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Uganda Shilling - Death Wish
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VituVingiSana
#21 Posted : Friday, July 01, 2011 10:31:29 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,099
Location: Nairobi
Cde Monomotapa wrote:
Historically, the Botswana Pula (BwP) experienced similar weakness during the exploration stages of its diamond resource. The reversal to strength of the currency after diamond sales commenced made smart fellows richer. Hence, same story, different cast. UG is no exception. It is more of a patience than a money game perse ~ Respect the game & the game will respect you.
Very different scenarios.
Botswana - Respect for democracy, elections (& the aftermath) are generally peaceful, corruption is minimal, lots of land [albeit mostly desert)
Uganda - corrupt prez, extends his term (24 yrs in power), corruption abounds, good land but population growth exceeds that of well-fed pigs

Uganda has a lot more going for it (vs Botswana) as far as 'overall' resources are concerned...

- Very good land [Ugandans except in the drier north hardly ever have famines] with water
- Smart/educated populace. Some of my best teachers in High School were Ugandans. Then the Kenyan teachers complained. A pity coz the replacements were not as good!
- Uganda has lots of water for its land area.
- Oil is better than diamonds. I can live without owning a single diamond but I need oil.

Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#22 Posted : Friday, July 01, 2011 10:37:32 AM
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Joined: 1/3/2007
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Cde Monomotapa wrote:
Cde Monomotapa wrote:
Cde. R.G Mugabe. True revolutionary, Pan-african & may he be life President of Zimbabwe.

The machinations of the West on this country created a GREAT oppurtunity to accumilate distressed yet quality long-term assets. The race is not for the swift...
BULLSHIT. Blaming the west for mugabe's problems? Same BS from Kenya's politicians when most of the post-1963 problems were NOT (minimally) colonial in nature e.g. goldenberg, anglo-fleecing, 10% bribes for licenses, 2008 PEV, land-grabbing, etc

This jamaa owns a (at least) $5mn house in Hong Kong. Why? So his daughter can go to college! He has raped the country. He played up tribalism. Took the land from White Farmers & gave it to his cronies [like kenyatta] instead of a fair distribution.

grace is known to go 'shopping' abroad while the country forex reserves were run down. I saw a documentary showing the mercs, etc of mugabe's buddies WHILE the poor Zimbabwean could not afford bread!

mugabe could have retired & let a new generation take over but he is no Mandela.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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FUNKY
#23 Posted : Friday, July 01, 2011 10:49:07 AM
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Joined: 4/30/2010
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http://www.monitor.co.ug.../-/byouh8z/-/index.html

CBK should learn something from Bank of Uganda.
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VituVingiSana
#24 Posted : Friday, July 01, 2011 10:57:50 AM
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Posts: 18,099
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FUNKY wrote:
http://www.monitor.co.ug/News/National/-/688334/1192418/-/byouh8z/-/index.html

CBK should learn something from Bank of Uganda.

CBK has done much better than BoU [KES dropped from 85 to 91 (8%) while UGX went from 2,400 to 2,750 (15%) in same amount of time
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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FUNKY
#25 Posted : Friday, July 01, 2011 11:01:03 AM
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@ vituvingisana-my point was if CBK had intervened in good time and sold some of its reserves the shilling would have never reached the 90/- levels.
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Cde Monomotapa
#26 Posted : Friday, July 01, 2011 11:08:23 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
FUNKY wrote:
@ vituvingisana-my point was if CBK had intervened in good time and sold some of its reserves the shilling would have never reached the 90/- levels.

The structural reforms made by CBK are a more sustainable & longterm solution to curb the vice of speculation and not using forex reserves to fight non-fundamental problems. @vvs under the land reform there are 60K BLACK farmers producing more tobbaco than the former 4,000 white farmers.
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Cde Monomotapa
#27 Posted : Friday, July 01, 2011 11:10:12 AM
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In conclusion..u can keep ur bible n' white Jesus and I will keep my land & natural resources.
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VituVingiSana
#28 Posted : Friday, July 01, 2011 11:37:06 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,099
Location: Nairobi
Cde Monomotapa wrote:
FUNKY wrote:
@ vituvingisana-my point was if CBK had intervened in good time and sold some of its reserves the shilling would have never reached the 90/- levels.

The structural reforms made by CBK are a more sustainable & longterm solution to curb the vice of speculation and not using forex reserves to fight non-fundamental problems. @vvs under the land reform there are 60K BLACK farmers producing more tobbaco than the former 4,000 white farmers.
Kuweni Serious! I am talking of 'food' where Zimbabwe became a NET importer from being a NET exporter!

[BTW, I am not talking of land re-distribution but of the theft of the land like kenyatta did. The benefits accrued to a few politically connected friends of mugabe]

mugabe's cronies grabbed the land, then sold it to the other Zimbabweans making $$$ MILLIONS in the process. Then used the cash to buy mercs & foreign real estate!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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SAC Cohen
#29 Posted : Friday, July 01, 2011 11:45:56 AM
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Joined: 1/3/2011
Posts: 129
Location: Nairobi
BOT has suspended clearing in TZ, no flows in our out... apparently its a normal occurrence.... and please dont ask me for a link...
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selah
#30 Posted : Friday, July 01, 2011 12:39:21 PM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
FUNKY wrote:
@ vituvingisana-my point was if CBK had intervened in good time and sold some of its reserves the shilling would have never reached the 90/- levels.


I doubt this,If CBK had sold its reserve there were no sign the speculators would have stopped their attack,I think what the governor did was splendid,in that he identified the speculators and made sure he gave them the warning shots then he plugged the holes this speculators were using to manipulate the system.

When a currency is under speculative attack the only way to salvage the situation is make monetary policies that ensure returns on speculation are as negligible as possible i.e taxing and increasing the interest rates.If you are sucked in by selling the reserves you might be taken to the cliff and dropped just like any other bubble.

remember CBK hold 3 point something months of imports as reserve now tell me how precarious the situation would have been if CBK had tapped into that reserve.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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SAC Cohen
#31 Posted : Friday, July 01, 2011 12:56:30 PM
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Joined: 1/3/2011
Posts: 129
Location: Nairobi
CBK's reporting month has closed and they have revalued their reserves at 89.40, having closed their year in 2010 at 81.55. (KES7.85 exchange gain)
Nice fat div cheque to the exchequer and he is considered a STAR.
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Cde Monomotapa
#32 Posted : Friday, July 01, 2011 1:12:00 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
selah wrote:
FUNKY wrote:
@ vituvingisana-my point was if CBK had intervened in good time and sold some of its reserves the shilling would have never reached the 90/- levels.


I doubt this,If CBK had sold its reserve there were no sign the speculators would have stopped their attack,I think what the governor did was splendid,in that he identified the speculators and made sure he gave them the warning shots then he plugged the holes this speculators were using to manipulate the system.

When a currency is under speculative attack the only way to salvage the situation is make monetary policies that ensure returns on speculation are as negligible as possible i.e taxing and increasing the interest rates.If you are sucked in by selling the reserves you might be taken to the cliff and dropped just like any other bubble.

remember CBK hold 3 point something months of imports as reserve now tell me how precarious the situation would have been if CBK had tapped into that reserve.

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dunkang
#33 Posted : Friday, July 01, 2011 1:25:19 PM
Rank: Elder


Joined: 6/2/2011
Posts: 4,818
Location: -1.2107, 36.8831
Cde Monomotapa wrote:
In conclusion..u can keep ur bible n' white Jesus and I will keep my land & natural resources.


Countries such as the U.S. and Britain have taken it upon themselves to decide for us in the developing world, even to interfere in our domestic affairs and to bring about what they call regime change.
Robert Mugabe

I wish to assure you that there can never be any return to the state of armed conflict which existed before our commitment to peace and the democratic process of election under the Lancaster House agreement.
Robert Mugabe

If the choice were made, one for us to lose our sovereignty and become a member of the Commonwealth or remain with our sovereignty and lose the membership of the Commonwealth, I would say let the Commonwealth go.
Robert Mugabe

In most recent times, as the West started being hostile to us, we deliberately declared a Look East policy.
Robert Mugabe

It may be necessary to use methods other than constitutional ones.
Robert Mugabe

Our party must continue to strike fear in the heart of the white man, our real enemy!
Robert Mugabe

Our votes must go together with our guns. After all, any vote we shall have, shall have been the product of the gun. The gun which produces the vote should remain its security officer - its guarantor. The people's votes and the people's guns are always inseparable twins.
Robert Mugabe

People are free to campaign and they will be free to vote. There won't be any soldiers, you know, at the queues. Anyone who has the right to vote is free to go and cast his vote anywhere in his own area, in his own constituency.
Robert Mugabe

So, Blair keep your England, and let me keep my Zimbabwe.
Robert Mugabe

Some people are contriving ways and means of making us collapse.
Robert Mugabe

Stay with us, please remain in this country and constitute a nation based on national unity.
Robert Mugabe

The land is ours. It's not European and we have taken it, we have given it to the rightful people... Those of white extraction who happen to be in the country and are farming are welcome to do so, but they must do so on the basis of equality.
Robert Mugabe

The only white man you can trust is a dead white man.
Robert Mugabe

The white man is not indigenous to Africa. Africa is for Africans. Zimbabwe is for Zimbabweans.
Robert Mugabe

True, some land was bought by a few Cabinet Ministers. They bought the land. No minister, to my knowledge acquired land which was meant for resettlement.
Robert Mugabe

Was it not enough punishment and suffering in history that we were uprooted and made helpless slaves not only in new colonial outposts but also domestically.
Robert Mugabe

We are no longer going to ask for the land, but we are going to take it without negotiating.
Robert Mugabe

We are not hungry... Why foist this food upon us? We don't want to be choked. We have enough.
Robert Mugabe

We don't mind having sanctions banning us from Europe. We are not Europeans.
Robert Mugabe

We have said the first step was to designate the land, inform the owners. And the second would be to get the responses from the owners. And this will be openly done.
Robert Mugabe

We of Africa protest that, in this day and age, we should continue to be treated as lesser human beings than other races.
Robert Mugabe

We pride ourselves as being top, really, on the African ladder... We feel that we have actually been advancing rather than going backwards.
Robert Mugabe
Receive with simplicity everything that happens to you.” ― Rashi

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VituVingiSana
#34 Posted : Friday, July 01, 2011 2:41:10 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,099
Location: Nairobi
@dukang - LOLest... Sounds increasingly desperate! Then the idiot revers to the White Man's currency (US$) when no-one wants his pieces of toilet paper!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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selah
#35 Posted : Friday, July 01, 2011 2:56:09 PM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
VituVingiSana wrote:
@dukang - LOLest... Sounds increasingly desperate! Then the idiot revers to the White Man's currency (US$) when no-one wants his pieces of toilet paper!


And rides on Rolls-Royce a white mans guzzler.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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VituVingiSana
#36 Posted : Friday, July 01, 2011 4:54:41 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,099
Location: Nairobi
selah wrote:
VituVingiSana wrote:
@dukang - LOLest... Sounds increasingly desperate! Then the idiot revers to the White Man's currency (US$) when no-one wants his pieces of toilet paper!

And rides on Rolls-Royce a white mans guzzler.
Not to forget when he flies on his shopping sprees he flies on White Man's plane - Boeing or Airbus. I betcha his bitches shop at the White Man's stores like Tiffany, etc buying the White Man's brands like Gucci, Chanel, etc!

[All while the Zimbabweans are suffering from hunger & other ills]

How some idiots can applaud the mugabe of today [He did some good stuff in the past esp education] is beyond me. Sadly, museveni is going the same path.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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FUNKY
#37 Posted : Friday, July 01, 2011 5:09:52 PM
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Joined: 4/30/2010
Posts: 1,635
I am wondering howcome there have been no uprisings in Zimbabwe? Are the Zimbabweans afraid of Mugabe so much?
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VituVingiSana
#38 Posted : Friday, July 01, 2011 5:34:02 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,099
Location: Nairobi
FUNKY wrote:
I am wondering howcome there have been no uprisings in Zimbabwe? Are the Zimbabweans afraid of Mugabe so much?
The army beats the crap out of those who protest coz the army colonels & generals also drive mercs. The Chinese supply weapons to mugabe & they get sweet mining deals!

The loser - The Zimbabwean wananchi...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Cde Monomotapa
#39 Posted : Friday, July 01, 2011 9:01:24 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
dunkang wrote:
Cde Monomotapa wrote:
In conclusion..u can keep ur bible n' white Jesus and I will keep my land & natural resources.


Countries such as the U.S. and Britain have taken it upon themselves to decide for us in the developing world, even to interfere in our domestic affairs and to bring about what they call regime change.
Robert Mugabe

I wish to assure you that there can never be any return to the state of armed conflict which existed before our commitment to peace and the democratic process of election under the Lancaster House agreement.
Robert Mugabe

If the choice were made, one for us to lose our sovereignty and become a member of the Commonwealth or remain with our sovereignty and lose the membership of the Commonwealth, I would say let the Commonwealth go.
Robert Mugabe

In most recent times, as the West started being hostile to us, we deliberately declared a Look East policy.
Robert Mugabe

It may be necessary to use methods other than constitutional ones.
Robert Mugabe

Our party must continue to strike fear in the heart of the white man, our real enemy!
Robert Mugabe

Our votes must go together with our guns. After all, any vote we shall have, shall have been the product of the gun. The gun which produces the vote should remain its security officer - its guarantor. The people's votes and the people's guns are always inseparable twins.
Robert Mugabe

People are free to campaign and they will be free to vote. There won't be any soldiers, you know, at the queues. Anyone who has the right to vote is free to go and cast his vote anywhere in his own area, in his own constituency.
Robert Mugabe

So, Blair keep your England, and let me keep my Zimbabwe.
Robert Mugabe

Some people are contriving ways and means of making us collapse.
Robert Mugabe

Stay with us, please remain in this country and constitute a nation based on national unity.
Robert Mugabe

The land is ours. It's not European and we have taken it, we have given it to the rightful people... Those of white extraction who happen to be in the country and are farming are welcome to do so, but they must do so on the basis of equality.
Robert Mugabe

The only white man you can trust is a dead white man.
Robert Mugabe

The white man is not indigenous to Africa. Africa is for Africans. Zimbabwe is for Zimbabweans.
Robert Mugabe

True, some land was bought by a few Cabinet Ministers. They bought the land. No minister, to my knowledge acquired land which was meant for resettlement.
Robert Mugabe

Was it not enough punishment and suffering in history that we were uprooted and made helpless slaves not only in new colonial outposts but also domestically.
Robert Mugabe

We are no longer going to ask for the land, but we are going to take it without negotiating.
Robert Mugabe

We are not hungry... Why foist this food upon us? We don't want to be choked. We have enough.
Robert Mugabe

We don't mind having sanctions banning us from Europe. We are not Europeans.
Robert Mugabe

We have said the first step was to designate the land, inform the owners. And the second would be to get the responses from the owners. And this will be openly done.
Robert Mugabe

We of Africa protest that, in this day and age, we should continue to be treated as lesser human beings than other races.
Robert Mugabe

We pride ourselves as being top, really, on the African ladder... We feel that we have actually been advancing rather than going backwards.
Robert Mugabe

Thanks Comrade!!
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youcan'tstopusnow
#40 Posted : Friday, July 01, 2011 9:02:00 PM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
FUNKY wrote:
I am wondering howcome there have been no uprisings in Zimbabwe? Are the Zimbabweans afraid of Mugabe so much?


If oil is found in huge quantities you can bet your ass that the Nigger Assassinating Troops Organisation (NATO) will be airdropping weapons to newly energised 'rebels'
GOD BLESS YOUR LIFE
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