Wizards of Money Part 14: The Trade Federation And The InterGalactic Banking Clan
by Smithy/Unwelcome Guests

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Part Summary: In this, the fourteenth edition of Wizards, we are going to take a look at the Earthly versions of the Star Wars Movies troublemakers known as the Trade Federation and the Intergalactic Banking Clan, responsible for starting and financing the Clone Wars. Our modern earthly descendants are known as the World Trade Organization and the US Coalition of Services Industries, founded by financial services giants in the early 1980s. These two bodies have formed strong alliances over the past two decades to bring us a very special and powerful trade agreement known as the GATS – which stands for General Agreement on Trade in Services. This agreement is said to cover international trade in anything you can’t “drop on your foot” – that means anything from banking to healthcare, childcare and education to communications and media to the postal service to water treatment services.

Series Summary: The Wizards of Money is an educational series that questions the validity of the global monetary system. Listen and discover amazing facts about the world-wide debt system we’ve all been enslaved by, and how this system produces economic disparity and the massive poverty conditions in which most people find themselves today.

About the Host: Smithy has degrees in mathematics and economics. She works as a consultant calculating investment risk for financial institutions, therefore she does not reveal her real name.

Audio/Transcripts hosted online at http://www.antiscia.com/wizardsofmoney/

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According to Oklahoma Sen. Jim Inhofe, the cap and trade legislation is dead. He believes the recent email scandal has ended the chances for cap and trade to pass in the Senate. He made this bold statement before even more bad news came for cap and trade proponents: the original data used in the global warming studies have been thrown away, so there is no longer a source to validate with.

Sen. Inhofe

While I would love to agree with Sen. Inhofe, I still think the legislation is very much a threat. The IPCC has already responded by saying there is ‘virtually no possibility’ of a few scientists biasing IPCC’s advice.

My gut instinct tells me that the global warming community will be extremely defensive of their work. As evident by the leaked emails, global warming scientists have no problem excluding conflicting data and manipulating data to show increases in temperature that do not exist. Since their plan to ignore scientists with differing views has been exposed, their next tactic is to try and publicly discredit them.

As no suprise, Rajendra Pachauri, chairman of the Intergovernmental Panel on Climate Change, does not want an investigation into the contents of the leaked emails, as it “would achieve little”. Pachauri did, however, express his desire for a criminal investigation into how the emails were obtained.

Why Modify Data and Push for Climate Legislation?

There is no doubt that most of the scientists whom have contributed to the IPCC report are sincere and honest. The problem arises, however, that many of their contributions relied on data that Phil Jones from the University of East Anglia provided (which is now known to be biased, based on his leaked emails). The same university has also thrown away the raw data which Jones’ work was based on.

This is a mute point, however. While the scientists may be sincere, the politicians in control are not. Those with power couldn’t care less if the data is valid or not; it’s merely the perception of a crisis that matters. In times of crisis, governments expand and powers grow.

Who would stand to benefit from cap and trade legislation? First off, corporations already in the loop. GE would stand to make billions in profit from “green” initiatives. Not only are they the largest wind turbine generator maker, they are going to profit heavily from the cap and trade credits as possibly the sole “secondary market” trader of these credits. So naturally, their lobbyists are hard at work to pass cap and trade.

Secondly, and more importantly, the government stands to gain more power. And while some people may not view this as a bad thing, it truly is a scary thought. If you watch the video below, you’ll realize that cap and trade is the least effective way to counter global warming. So then why the push to pass it? Power.

Government officials, in their ever persistent struggle for more power, wish to enact legislation that allows them more control over their citizens. In the US, “cap and trade” is that legislation. On the global scale, the United Nations wishes to impose those sanctions and controls on a worldwide scale via the COP15. One way to increase a people’s dependence on government is to limit their production of goods and ability to work, which these measures would do.

So, unfortunately, while the scientific data may be under scrutiny since the emails were leaked, governments’ desire for more power is still strong. And since the driving force behind cap and trade from the beginning was government power and corporate profits, not science, this legislation is still very much a threat.

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CORT Trade Show Furnishings – FL

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I’ve been in the City this week working from the floor of Saxo Bank in Canary Wharf.  Unfortunately by the the time I get there and set-up most of the good runs had already kicked off. I’ll write more about that in a later post.

Anyway today (Friday) was the same, fears of contagion from Dubai left asian markets tumbling and with that the currencies followed as capital ran for perceived cover in USD and Yen.  Cable had already dropped 120+ points by the time I’d set-up.  I was literally setting up my laptop at 7am when it crashed south again hard.  Not surprisily my early morning relative strength analysis was showing Yen and Dollar strength along with Sterling weakness so I was looking for an opportunity to sell GBPUSD.

Had I been set-up and alert I would have loved to have sold the pivot off the descending triangle sloping resistance line but instead I was left to watch price plummet.

After such a sharp drop price was always expexcted to rally and it promptly did so.   As price rallied back to original support line I was waiting to see whether it would become resistance as I was still looking for an opportunity to short GBPUSD.  The next chart and comments explains the trade well.

 1. Price has rallied back to previous support which I’m looking to now become resistance.  Had I been on my game and operating from my office I may well have ’sold the line’ at approx 6370.  That is part of my next evolution as a Trader. When price fails and produces a hammer then I ‘m happy to be a seller and place a short order at 6376 should price go back to that level.

2. The next couple of bars are nice small inside bars which lead me to believe that price is not going to head north to my level but will just drop south.  I’m going to hit the short at market if its drops.  Which it does.  I short @ 6353 with a stop @6382.  1st Target is 6333 for +20. Open 2nd target but I’m eyeing previous support at approx 6280.

3. Price drops then comes back to the 5 min 15ema.  I’m comfortable and happy so far. Price forms a hi-test reversal bar (positive hammer, shooting star, call it what you will.)  I’m comfortable being aggressive today and I decide to add to my position if it continues to drop.

4. Price does break the low of the hi-test bar and so I sell at market. ‘Order rejected’ comes back my broker (for reasons best know to himself).  I try and hit sell again and once more my order is rejected.  I’m confused and angry…and taken out of the moment. I’m fuming at my broker. I reckon my broker must be overwhelemed with all the market shenanigans this morning and can’t handle my huge whopping £1 a point add-on position.  I place an order to add at 6328 should that price drop that low. 

Also at point 4 price hits a low of 6330 on my Tradestation and Metatrader charts and I have my 1st tgt order at 6333…….but my order at my broker is not filled!  When I check their charts they say price never got below 6334!  I’m now using a fair amount of foul language to describe my broker and how if they were here in my office they’d be leaving the building via the 26th floor window.

5. So having not had my add-on position filled and my 1st target order not filled what does price do?  Naturally it reverses on the spot and slams back north.  With wondorous hindsight I should have just closed the postion at break-even on the entry point and stepped aside.  However things were happening fast and I was out of the moment wondering about what my broker was playing at.  Price did honour the resistance line at that moment.

6. Price decided to continue north and hits my stop loss at 6382 for -29 points.  Frustrating to say the least on what should have been a +20 or break-even trade at worst.

Points learnt:

1.  Brokers will always mess you around.  You need to be able to deal with it in your stride and not let it distract you from your charts.

2. Nice idea on trying to add to my trade…though I admit it is ballsy to be adding to 5 min chart trades.  But I’m comfortable that it looked like a good set-up.

3. As the saying goes “When fear and doubt reign…cash is king.” I should have just closed the position at break-even when I had the chance.  I was distracted by being in a room full of 30 people and by pace of market movement and my brokers shenanigans.  Just get off the bus, there’s always another one coming along.

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CORT Trade Show Furnishings – GA

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13H30 – Folk – Ducth 20@1,24 – Karasakal + Spider boy +4,80

13H30 – Folk – placé inplay – Karasakal 30@1,40  +12

14H00 – Folk – Dutch 100@1,06 – Den of iniquity + Numide + The jazz musician  +6

14H00 – Folk – Dutch 15@1,45 – Den of iniquity + Numide  +6,75

14H20 – Fake – Dutch 30@1,22 – I have dreamed + Working title  +6,60

14H20 – Fake – placé inplay – Working title 30@1,20  +6

14H30 – Folk – Dutch 50@1,10 – Quartano + Lord Singer  +5

14H30 – Folk – placé – Quartano 100@1,13  +13

14H50 – Fake – Dutch 5@2,02 – Count boris + Petroglyph + Little firecracker +5,10

14H50 – Fake – Dutch 10@2,02 – Count boris + Petroglyph + Little firecracker + Pipers Legend  +10,20

14H50 – Fake – Dutch 50@1,25 – Count boris + Petroglyph + Little firecracker + Pipers Legend + Norman Beckett + Tarkesar  +12,50

14H50 – Fake – trade inplay – Petroglyph back 50@1,25 lay 1,10 +7,50

j’ai hésité à mettre Little Firecracker en placé @3,30

sous total +95,45

15H30 – Folk – Dutch 20@1,24 – Natural action + English jim + Over the flow + won more night  +4,80

j’ai hésité à mettre Natural action en placé @1,50

et à faire un dutch @1,58 – Natural action + English jim

15H50 – Fake – gagnant – The polomoche 20@1,28  +5,60

15H50 – Fake – placé – The polomoche 50@1,15  +7,50

15H50 – Fake – placé et gagnant – The Polomoche +48

16H10 – Wolv – gagnant – Ravi river 5@1,98  -5

16H10 – Wolv – placé – Ravi river 20@1,24  +4,80

16H40 – Wolv – dutch lay de 5,70 euros pour gain de 2 euros – lay as brave as you + second brook + jennerous blue + kyoatee kilt + tiger hawk + heligolan +2

********************************************************************

Date de départ : 26/11/09

Banque de départ : +1000

G/P du jour :  +163,15

Banque actuelle : +1453

NB : certains m’ont posé la question … donc je tiens à préciser que les trades inplay et offplay qui sont rajoutés après coup feront lieu d’un bilan séparé hebdomadaire pour que chacun puisse juger des résultats et trouver éventuellement le type de pari qui lui correspond le mieux (selon son temps dispo et/ou la rentabilité)

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CORT Trade Show Furnishings – IL

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(Photo: SGGP)

Sai Gon Giai Phong Daily spoke with Nguyen Son, head of the Market Development Department about a recent announcement that beginning in December, securities firms will have to stop authorizing customers to sell or borrow before the T+4 trade settlement, where T denotes the transaction date.

Mr. Son said he considers this measure an effective solution to correct recent market infringements and ensure equality between firms and customers.

SGGP: Could you please explain why this correction hasn’t been implemented earlier?

Mr. Nguyen Son: After a periodic inspection, the State Securities Commission (SSC) found some securities firms were allowing their customers to sell holdings earlier than the standard settlement time, which is against the Securities Law.

Earlier, the commission warned firms to obey the law and continue to check T+ transactions. It has now ordered securities firms to stop such violations while waiting for the Ministry of Finance to issue new instructions for stock transactions.

It will investigate the infringements and report to the ministry to decide on a solution.

Obviously, there is a need to reduce trade settlement times. Do you think that it’s time to apply a shorter trade settlement on Vietnam’s stock market?

The SSC drafted a circular for transaction instructions, which allows investors to open many trading accounts and buy or sell same stock the same day. It also gives investors permission to sell the shares they bought on day T+2 and T+3 which means immediately after the Vietnam Securities Depository (VSD) cross-checks with market members.

The circular has been presented to the ministry for consideration. It will be applied at the beginning of next year if the ministry approves it.
 
Which requirements do you think Vietnam’s stock market needs to reduce trade settlement times?

The settlement currently finishes at 3pm on day T+3. Investors will receive shares and money in the morning when the trade settlement is reduced.

Technology plays an important role in reducing payment of stock transactions. The VSD has set up a new system and tested it. It plans to use this system by the end of the year. However, reducing the settlement not only requires effort from the VSD but also from market members.

Thank you!

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CORT Trade Show Furnishings – LA

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Organ trade cartoon by Dario Castillejos

(source)

The case for allowing free organ trade seems a no-brainer. Many countries, including the U.S., now forbid the sale and purchase of most organs, and, as a consequence, sick people die because of organ shortages, and poor people stay poor because they can’t “monetize” their organs. Poor people suffer a “double injustice”:

[We say] to a poor person: “You can’t have what most other people have and we are not going to let you do what you want to have those things”. (source, source)

Organ-GATT?

However, when organs are freely tradable, many extremely poor people, especially those struggling to survive, will be tempted and even forced to sells parts of their bodies. Moreover, the rich will be able to benefit disproportionately from the market because prices will be high, given that demand will outstrip supply in an ageing society. The most obvious means to balance supply and demand, and to force down prices and allow the less than wealthy patients to participate in and benefit from the market, is to create a global market without trade restrictions, an organ-GATT if you want. This will bring in the masses of poor people from Africa and Asia, pushing up supply of organs and hence bringing down prices. This will supposedly benefit both the less than wealthy patients and the very poor donors. The latter will benefit even with prices for organs falling because of increased supply, because they start at extremely low levels of income. Even the sale of a cheap kidney can mean years of income for them.

The problem with this global market is that organ extraction will take place in sub-optimal medical conditions, creating risks for donors (if you can still call them that), also in the case of renewable tissue donation. Paradoxically, the poor are driven to risk their lives in the process of saving their lives. Even in the best healthcare systems in the world, organ extraction is often very risky. In the U.S., the extraction of a section of the liver, for example, carries a risk to the donor’s life of almost 1 percent (source). That’s not negligible. I doubt anyone would cross a street if that were the odds of getting hit by a car.

I’m convinced that an opt-out regulation for cadaveric donors (meaning that everyone’s a donor after death unless an explicit opt-out), combined with non-financial encouragement of voluntary pre-death donation, is the best way to solve the organ shortage problem. A free organ market will obviously also solve the organ shortage problem, but will create new problems instead.

Renewable and non-renewable organs

The distinction between renewable tissue such as bone marrow, and non-renewable organs such as kidneys, eyes, etc. is a relevant one. If the donation of renewable tissue can take place in medically safe conditions, I can’t see a problem with being allowed to trade, on the condition that poor patients have the same opportunity and power to buy as rich ones (and that’s a pretty big “if”). The needs of the sick or disabled who risk dying or suffering because of a lack of available organ, clearly outweigh any remaining concerns.

Commodification

One of those remaining concerns is the problem of the commodification of the body. Organ trade is obviously commodification, and commodification is dehumanization. I don’t want to imply that organ trade liberalization necessarily results in “organ farms”, dystopian places where people are “cultivated” solely for the harvesting of their organs – although the Chinese criminal justice and capital punishment system for instance comes awfully close. (I sometimes wonder if deterrent and punishment is the real goal of executions in China). But people can commodify and dehumanize themselves.

The logic of economics tends to overtake all other domains of life, even those where it doesn’t belong and can do serious harm. Why is it so evident to so many that body parts are something that it supposed to be tradable? Even the most outspoken proponents of organ trade draw the line somewhere: they won’t allow people to sell parts of their brains, I guess, or their children and wives, or the parts of aborted fetuses (perhaps fetuses specially conceived and “harvested” for their parts), not even if this would fill a great social need. And yet they accept as natural that non-vital body parts should be tradable and seem to forget that irreplaceable body parts form our body and that we can hardly exist without our body. If we allow total freedom of organ trade, we will have to accept the case in which a poor father decides to sell off every single one of his organs for the survival of his family. After all, he is the master of his own body, he has a right to self-determination, and the government has no right to limit what masters of their own bodies should be allowed to do with it. If you don’t accept the legitimacy of this extreme case, you accept limitations on the freedom to trade organs. Since most opponents of organ trade also accept certain types of trade – e.g. renewable organs such as bone marrow and skin – the disagreement isn’t a principled one but one about degree.

Underlying the argument in favor of organ trade is the fiction of a market populated by free, equal and self-determining individuals who make free and rational economic decisions and agreements on what to sell and buy, free from government interference. The reality is of course that organ trade isn’t an expression of self-determination or autonomy but rather of the absence of it. And that organ trade, just like a lot of other trade, is radically asymmetrical: some are forced to sell in order to survive, especially if the price and hence the reward is very high, as it will be relatively speaking for the poor. And others will sell without rationally examining the benefits for or risks to their interests (absence of informed consent). It’s beyond my powers of comprehension that all this can be denied:

It’s true that I don’t find any of the arguments about the coercive effects of money on peoples’ decisions particularly compelling.  Megan McArdle (source)

Any potential paid organ donor is always free to decline the transaction, and is left no worse off than before. What next, will you tell me that I “coerced” Apple into sending me a Macbook? (source)

This seems to me to be more correct, or at least less outrageous:

Talk of individual rights and autonomy is hollow if those with no options must “choose” to sell their organs to purchase life’s basic necessities. … Choice requires information, options and some degree of freedom. (source)

transplanting of teeth

Free trade except for the poor?

Of course, some would say: if someone is forced by poverty to sell her organs, would you stop her and make her worse off by imposing legal restrictions on her autonomy and “reducing her resources”? That’s again the myth that markets always make things better. What if she does get some money, has a better life in the short run, but gets sick because of the operation (or do we also assume the myth of perfect healthcare for the world’s poor?) or because of the lack of an organ? Who would make her worse off? The one allowing her to sell, or the one stopping her? And anyway, there are better ways to protect the poor than to allow them to harvest their organs.

So, if we’re afraid that free organ trade might be exploitative for the poor, why not allow free trade but exclude the poor from selling? Because the poor will be, in general, the only ones tempted to sell. A wealthy person has no incentive to sell organs. Hence a free trade system restricted in this way will not solve the shortage problem, the main concern of proponents of free trade.

I’ve stated before that government interference can promote rather than restrict freedom. In the case of organ trade and donation, two specific types of interference can help:

• Restricting the freedom to trade non-renewable organs, as well as renewable organs in circumstances in which extraction poses a health risk to donors, will protect the freedom of the poor. Not their freedom to sell organs obviously – which isn’t freedom for them anyway but compulsion – but the freedom to live a healthy live.
• Imposing default cadaveric donation with an opt-out clause will protect the freedom to live a healthy live of patients in need of replacement organs. Of course, if it’s the case that for some organs cadaveric donation isn’t possible medically, I’m willing to accept an exception.

Trade restricted to post-mortem trade?

How about allowing people to sell their organs after death? This would evidently remove the health risks for donors. It could be considered a kind of life insurance for the deceased’s family. That would indeed remove all the concerns from the donor side. (The counter-argument that such a system would encourage families to kill their members for the “insurance money” seems a bit weak, and just as weak as the similar counter-argument against generalized organ trade liberalization, namely that people would murder in order to sell organs; I guess they already do).

Photo by Jonathan Cook

But assume that we would allow free post-mortem trade: what would happen with the organs? They would be sold of course, but to whom? The most wealthy first, and hence we still have our problem on the beneficiary side: wealth yields better health. Of course, that’s already the case in healthcare in general: rich people also have better dental care etc. But do we want to add to the existing injustice by allowing wealth to determine who gets an organ?

If we allow limited organ trade of deceased’s organs, we’ll have to do something on the beneficiary side in order to neutralize the effects of wealth. A lottery system could be an option. Or subsidies for the poor, or price caps etc.

More on organ trade here and here.

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CORT Trade Show Furnishings – MD

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Thanksgiving encourages everyone to think about what they are thankful for. Friends. Family. A house and a job. The Common App. Education. A wonderful thanksgiving meal. Millions of dead turkeys. Wait a minute, things don’t look so great from that perspective. Approximately 250 turkeys were raised for the sole purpose of eating them on Thanksgiving. How’s that for a guilt trip. Indeed, thanksgiving gives our friends at PETA just another chance to shake their heads at us. Lucky for us, they offer 10 reasons why we should save these turkeys

It is possible, to feel guilty about every single thing we do these days, or so it seems. How can we be thankful for so many things on thanksgiving when there is so much we are not thankful for and take for granted. Food for thought.

With this on my mind, I embarked with my family to lunch on the day after thanksgiving. We went to a winery owned by a friend of my uncle’s and therefore got a backstage look at the wine business.  You wouldn’t think it, but a lot of nature goes into one bottle of wine.The process looks somewhat like this:

1) Loads of lands must be cleared and stripped of its natural purpose in order to grow the grapes

2)In the meantime, loads of land-mostly in Portugal-are used to grow cork trees. We heard an interesting story to this. Because you can only take the cork off of a cork tree once every ten years or so, about two decades ago the Portugese tried to grow super cork trees that would grow in a third of the time. The cork from this trees was not resistant to all sorts of bacteria and other nasty stuff because of its short grow time and almost killed the wine industry. Interesting that in order to save land, they had to manipulate nature and its genetics. Whichever way you look at it though, they failed.

3)The grapes have to get transported, fermented and turned into wine. I won’t go into detail, but it takes lots of energy and air conditioning and transportation.

4)The grapes need to be in wooden barrels. These need wood grown in very cold temperatures, and trees are grown in cold parts of France, Minnesota, Oregon, Maine and more. The French ones are ideal. They also have the biggest toll in shipping them to wineries in California. Then there is the wood grown just so it can be cut down.

5)The bottles have to come from somewhere. I’m not exactly sure where, but for a winery that has over 12 million galloons of wine in the making at any given time, they need a lot of glass.

6)Shipping it. It goes everywhere. This particular winery sends about 10% of its wine to China. That’s far away, and big steam ships use a lot of gas. Pollution and use of fossil fuels, all at once. In the last couple of years, China has been importing more and more wine. Right now they don’t have the soil for grapes, its a hard industry to start (but not that hard as seen in California) and they are more focused on industrial advances. Nevertheless, their middle class, which is already huge and is growing at an even huger rate wants to drink wine. So its comes from far away California.

Here’s the thing. A knowledgable person can go through and do this for nearly everything. The results will often be depressing. Clearly, we can’t make everything perfect (the best step to completely reverse our dirty trend is for everyone to eat out of their own garden and never drive anywhere), but things need to be better. When simple pleasures like enjoying thanksgiving or a nice bottle of wine can make you guilty of conspiracy to harm to Earth to such a degree, things are a problem. Big time. And how do we clean it up? Do we say, “No, China may not have our wine,” or maybe limit the number of trees that can grow the grapes?

I like the latter solution. Everything has to be in excess these days. Big SUV’s, buy one get one free, and paper starbucks cups every morning, things really need to be scaled down. That will hold the forces of destruction at bay until we can get cleaner energy and fuel. But we are far from being in the clear. Just wait until Christmas.

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CORT Trade Show Furnishings – N. CA

FL 32837 Orlando (United States)
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CORT Trade Show Furnishings – NY

NJ 07096- Secaucus (United States)
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CORT Trade Show Furnishings – S. CA

FL 32837 Orlando (United States)
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J’aime bien finir ma journée en allant voir un peu ce que demain nous réserve !

Donc, pour son côté pratique, je suis allé sur le site d’Adrian et me suis arrêté sur cette course http://www.adrianmassey.com/30/race12.php

Après une rapide analyse, on pourrait en déduire que les 2 grands favoris seront Ballygulleen et Mr Big !

Voyons leurs côtes respectives la veille à 22H30

Enroblim Trop a déjà fait de bonnes courses mais sans véritable régularité et sa dernière victoire date d’il y a un an

Nagam est plutôt en forme cette année … mais va trouver ici forte partie … ce qui justifie sa côte

Captain Aubrey n’a pas couru depuis 1 an mais on s’en méfiera car ce n’est pas un manchot et il peut très bien trouver ici une occasion de faire son retour ( suite à un entrainement sérieux dans ce sens notamment)

Helm n’a fait que 8 courses en 4 ans et ne s’est placé second dans sa dernière que parce qu’il courait avec des novices. Il ne me semble pas dangeureux

Maintenant revenons au sujet qui nous améne … le Offplay !

Offplay (ici à long terme) qui consiste donc à juger si une côte va baisser ou au contraire augmenter d’ici les quelques minutes qui vont précéder la course (ou même avant)

Ainsi on peut remarquer que 4 côtes tournent autour de @4,5. Ne nous intéressons pas à Ballygulleen et Mr Big qui sont tout de même les prétendus favoris même si le palmarés de Mr Big reste impressionnant au point qu’il en est mon favori

Reste Enroblim Trop et Captain Aubrey …

Comme je l’ai dit Captain Aubrey n’a pas couru depuis longtemps mais reste, à mon sens assez dangeureux pour un retour possible

Bon ben voilà … on pourrait se dire qu’on a trouver notre canasson à trader en Offplay … si on avait la science infuse !

Mais je pense qu’il vaut mieux se dire que les parieurs de demain vont faire la même analyse que nous et qu’il serait bien de tabler sur une hausse de la côte de Enroblim Trop d’ici demain et le layer dés la veille … afin bien sûr à ce moment là (une hausse de la côte constatée) de le backer (le lendemain donc) et ainsi faire un bénéfice “sans risque”.

Verdict demain !

Amman’s packed streets provide even the most cynical amongst us with an unforgettable shopping experience. Take the florists for instance whom have clearly been plagued with problems arising from stocking perishable items. Many have chosen to remove the element of risk in its entirety and now choose to sell plastic flowers, plants and trees – ingenious.

However, one stall left me a little unnerved. The enterprising individual in question proudly displayed a pair of muddied army boots, a balaclava and an urn. I can only presume all the above items were purchased at the house clearance of an unlucky rebel who gave his life whilst fighting a lost cause.

Currently, 90 per cent of meat eaten in East Africa comes from pastoralists, who move with their flocks and herds in search of grazing and water. Pius Sawa discovers just how the meat gets from those pastures to his plate. It’s an amazing journey.

Read (and listen) … (AGFAX)