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Russia. The government is moving to shut down Memorial, the country’s most prominent human rights group, in the latest legal effort to silence voices critical of President Vladimir Putin.
South Africa. Faf de Klerk, the last President of Apartheid South Africa, died at the age of 85. De Klerk oversaw the end of Apartheid and shared the Nobel Peace Prize with Nelson Mandela in 1993.
China. The Communist Party has passed a "historical resolution", cementing Xi Jinping's status in political history. It is only the third of its kind since the founding of the party - the first was passed by Mao Zedong in 1945 and the second by Deng Xiaoping in 1981.
Sierra Leone. The death toll following a devastating fuel tanker explosion last week in capital has risen to 131. The tragedy on Friday occurred on a busy junction in Wellington when a fuel tanker was hit by a truck, which later caught fire.
1910 1st possible movie stunt: man jumps into the Hudson river from a burning balloon
1912 British explorer Robert Falcon Scott's diary & body found in Antarctica
1927 Leon Trotsky is expelled from the Soviet Communist Party, paving the way for Joseph Stalin to consolidate complete power
Taking Advantage of CBN
The Story Farmers the CBN gave loans are not paying back.
What loan? As of the end of March 2021, farmers who participated in the Central Bank of Nigeria's Anchor Borrowers' Programme (ABP) owed the bank $463B, according to statistics from the CBN Economic Report for April. The President, Major General Muhammadu Buhari (retd. ), established the ABP on November 17, 2015, to address the country's negative balance of payments, particularly in the area of food. Farmers that grow grains (rice, maize, wheat, etc. ), cotton, roots and tubers, sugarcane, tree crops, legumes, tomato, and livestock are among the program's beneficiaries.
How much loan was given out? Deposit banks, development finance institutions, and microfinance banks, all of which are recognized as participating financial institutions under the program, issue loans to the recipients. According to the CBN report, 615.4B was given to 3.04 million farmers from the start of the ABP in November 2015 to March 31 this year. The recipients had only repaid 152.3 B, according to the study, while the outstanding loans totalled $463 B. "A total of N615.4B was disbursed to 3,038,899 beneficiaries under the Anchor Borrowers' Programme, of which N152.3B was repaid," it stated. The CBN's unpaid liabilities as of November 2020 amounted at 378.5B dollars in August. The banking regulator had disbursed a total of 497.2B to fund 2.3 million projects under the program throughout the period, but had only received 118.7B in repayment.
What was the Goal of the Scheme? The ABP's broad goal, according to the CBN's recommendations, is to develop economic linkages between smallholder farmers and reputed large-scale processors in order to increase agricultural output and considerably improve agricultural enterprises' capacity utilization. Experts reviewing loan repayments under the program connected rising default rates to increased vulnerability to insecurity in some sections of the country, particularly in food-producing states. SOURCE
Ignorance is Costly
The story Eighty-five percent of Singaporeans who are eligible for coronavirus vaccines have been fully immunized, with 18 percent receiving booster injections.
Nice one. Unless someone tested positive shortly after returning from overseas, the government presently pays for any Singaporean citizen, permanent resident, or holder of a long-term work pass who becomes ill with Covid-19.
Clamping down on the unvaccinated Officials, on the other hand, have decided that continuing to tolerate the unvaccinated preferences is no longer an option. The Ministry of Health said on Monday that the medical costs of those who are "unvaccinated by choice," who account for the majority of new coronavirus cases and Covid-19 hospitalizations in the city-state, will no longer be paid.
Extra benefits of being vaccinated? The government will continue to cover relevant medical expenditures for individuals who have been vaccinated as well as those who have not yet been vaccinated: children under the age of 12 and those with specific medical conditions. People in Singapore who are only partially vaccinated will be covered until December 31. SOURCE
Testing the waters
The Story Since Brexit has worked so well for the United Kingdom, some Texans are considering seceding from the rest of the United States.
That was said like a Texan. Ted Cruz is the ideal person to champion this viewpoint. Last month, a student asked the state's buffoonish senator how he felt about the Texas secessionist movement as he was speaking at a Texas A&M event. "There may come a moment where it's hopeless if the Democrats abolish the filibuster, if they fundamentally undermine the country, if they fill the Supreme Court, if they make D.C. a state, if they federalize elections, if they substantially expand voter fraud," Cruz bemoaned.
Why would they want to secede? Texas would appear to have no choice but to secede. The Texas Nationalist Movement, or TNM for short, is a group of people that believe in ""To ensure and maintain the political, cultural, and economic independence of the nation of Texas," asserts Texit. " This is stated on the official website of the movement "This means that Texans, not 2.5 million unelected bureaucrats in Washington, make our own laws. It means we'll have a government that starts and ends at the Texas state line." Cruz may be amusing, but he is astute. "I believe Texas has a national responsibility, and I am not ready to abandon America. This is a country I adore".
More would-haves? He got back on his feet and went on to say that Texas bears a special obligation to the United States because it is currently "an outstanding force protecting America from falling off the cliff" and "keeping America grounded in the ideals that established this country". He's also pragmatic and understands what matters most to his fans. "If it gets to the point when it's hopeless, I believe we should seize NASA, the military, and the oil." SOURCE
Size Doesn’t Matter
The Story Humans, primates, and dolphins, for example, have larger brains than other animals because more brain cells have space to create complex processes in the brain.
Hmmm... But, as complex behavior among them stimulated interest in their cognition, scientists have begun focusing their attention on the creepiest, crawliest, and smallest animals in the kingdom. Most people are afraid of spiders, so learning that they are among the most intellectual creatures with which we share our planet may not be good news.
Not spiders, please. Yes, spiders. Spiders, according to arachnologist and evolutionary scientist Dimitar Dimitrov of the University Museum of Bergen in Norway, undertake tasks that are considered "cognitive" rather than "automatic." Dimitrov coauthored a piece on spider diversity in the 2021 Annual Review of Entomology, which looked at the various ways spiders might astonish humans. Spiders are capable of considerably more than most people think based on their size, from making web alterations based on their targeted prey to learning to link rewards with odours. This is exciting news as long as they don't "learn" how to fly. SOURCE
WHAT ELSE IS FRESH...
Kuda Bank threatens to close accounts used for cryptocurrency transactions - Nairametrics
‘Depleted APGA too weak to have won’ —Andy Uba rejects gov’ship election result
Restraining Nnamdi Kanu’s lawyers from courtroom confirm Nigeria as failed State — COSEYL
Malami faults suspect’s claim on Odili’s home invasion
Senate mourns 120 residents killed in Sokoto market
Thoughts Every Woman Has Had In The Workplace (Humour) The Onions
Which of the following European countries does not use the Euro as its main currency?
B. United Kingdom
QUESTION & ANSWER
What's stopping the 99% from successfully rebelling against the 1%?
There’s an old joke that a heart surgeon goes to a mechanic to get his fuel pump replaced. While he’s working on the car, the mechanic muses that their jobs are pretty much the same. “I figure out what the problem is, take out the old pump, put a new one in, and sent the ‘patient’ on its way. So how come I make $40,000 a year, and you make $400,000?” The surgeon smiles and says “try doing it while the engine is running”.
You might think my point is that the 1% earned their wealth through their superior skills. That’s actually not it at all. My point is that the economy isn’t about static wealth that can just be grabbed and redistributed. The economy is a vast machine with millions of moving parts in constant motion. If you disrupt that engine, then we’re all worse off than we were.
And this is a big deal. There was a time when wealth was primarily a result of who owned which land and natural resources. In such an economic setting, one can imagine seizing the land from the landowners and redistributing it among the peasants (that has it’s own issues, but it’s conceivable).
In the modern economy, it doesn’t work like that. Let’s say we wanted to physically seize Jeff Bezos funds and redistribute it? How do you do that with force of arms? The vast majority of that wealth is in stocks, which means that it’s entirely theoretical. Armed mobs could seize Amazon trucks and warehouses, and occupy their corporate offices, and… then what? You’d end up with a few trucks and buildings divided among however many members of the uprising there were. Even all the inventory you could seize wouldn’t be all that much, once you divvied it up. In order for Amazon to have it’s value, it needs to continue to function. To tear it down, or even to disrupt it’s operation by violence, means that something that was once incredibly value now becomes nearly worthless.
And the same goes for most of the wealthiest people in the world. Very few of the uber-rich have large amounts of wealth in any form that you could physically seize and occupy without destroying most of their value.
And that’s one of the issues with communist rebellions. They’re sometimes successful at pulling down the wealth of the wealthy, making people more equally poor, but redistributing the wealth to make everyone roughly equivalent? They’re terrible at that.
The best you can hope for is to create a social and governmental system in which successful businesses and individuals have to continually contributed some portion of their revenue to the common good, as a condition of doing business in this society. That has its issues as well, but it has much more potential than trying to rebel and grab wealth that doesn’t exist in a grabbable form. SOURCE
Which of the following European countries does not use the Euro as its main currency?
B. United Kingdom
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