World’s Biggest Wealth Fund Refuses to Be Silenced
Bloomberg | 26 June 2017
So Norway’s $960 billion sovereign wealth fund, the world’s biggest, is taking a stance against equity indexes including companies that aren’t subject to shareholder control. The move opens a new front in the fund’s efforts to use its considerable—and growing—clout to force companies to improve their ESG act.
Two important decisions loom for those who compile the indexes that effectively decide which companies investors have to buy (or risk under-performing versus their benchmarks). Snap Inc., which sells a photo app, did a $3.4 billion initial public offering in March comprised solely of non-voting stock. If it wins equity-index status, fund managers will be forced to buy shares that don’t carry any clout.
A much bigger issue is the forthcoming flotation of Saudi Aramco, Saudi Arabia’s state oil company. The company could be valued at more than $2 trillion, making it the biggest IPO ever. The planned sale, though, would deliver no more than 5 percent of the company into private hands, leaving 95 percent with the state—and investors with almost no say in how it operates.
The Norwegian fund this week proposed scaling index weightings based on the voting power given to shareholders. Yngve Slyngstad, its chief executive officer, told my Bloomberg colleague Jonas Bergman: “Society benefits when companies are well run and asset owners take their ownership responsibility seriously. Voting is an important tool to secure good corporate governance and ensures that asset owners are able to make the board accountable and ensure long-term value creation.”
By James Quaid
For years I’ve sent the following questions to Crypto Blogs, Wallets, Ambassadors, SME (Subject Matter Experts).
- Do you know of any Government specified back doors??
- Are the allegations about SHA-2, SHA-***, true? That NSA installed a back door?
- What other security problems might BitCoin have?
- Are there any Android back doors?
- Plus, have there been any serious postmortems, recoveries and or prosecutions of Bit Coin heists?
Many of my questions have been answered by WikiLeaks Vault Seven revelations. But, please note, I’ve never received any feedback. Again, I invite anyone in the Crypto Community to send comments and or opposing POV’s.
Of late there are a wide range of Crypto currencies roaming the digital planes of Cyberspace. All Cryptos can are defined by two attributes.
The link below goes into great detail. Where the “Technology” defines the structure, features and functions of each Crypto currency and the “Governance” defines the internal policies, covenants, regulations, etc. Some coins have better technical and governance attributes than others. These features and functions define Crypto Currencies.
Each virtual coin carries a ledger of every transaction related to that specific coin or fractional amount of coin. Therefore, upon a theft the governance of that particular currency would provide remedies on how to deal with the theft. They in theory would also address beefing up the technology to deal with any newly discovered technical vulnerabilities.
See the last bulleted item in my introduction. Yes, there have been successful Crypto Currency theft prosecutions, the famous Silk Road bust. But, note how it took FBI involvement. Also note, there is no mention of the stolen BitCoin being returned to their righful owners. But, the theory of how it’s supposed to function is covered well.
- Why Criminals Can’t Hide Behind BitCoin
Science Mag| 19 March 2016
According to the first link below 99% of Bitcoins stolen have never been recovered. It also describes how most Crypto thieves operate. They steal (x) amount, then sell (x) amount at discounted prices and then take the money and run. Leaving the victim and new owner of the stolen Coin to sort out who owns what. This is the preferred method of operation (MO). Here the limits of the governance and technology are obvious.
- Recovering Stolen Bitcoin: a Digital Wild Goose Chase
The Guardian | 09 December 2013
- Bitcoin Theft Highlights Cryptocurrency Regulatory Uncertainty
Allen Overy | June 2017
Next Up: Crypto Currency Best Practices
Last Post: Crypto Commentary: First Installment
Food for the Soul Series
Check it out: Jack Strong: Movie to Rent
“Sovereignty is a word that is used often but it has really no specific meaning. Sovereignty today is nominal. Any number of countries that are sovereign are sovereign only nominally and relatively.” ~Zbigniew Brzezinski – Polish born US National Security Adviser during Carter administration, died May 26, 2017
By Your Culture Scout
A lot of you may remember the 1980’s. No, I don’t mean the shoulder pads and the ABBA. I mean the waning years of the Soviet empire. I mean Reagan’s 1987 challenge of “Mr. Gorbachev – tear down this wall.” It is one thing to watch any war, even a Cold War, on the TV news and another thing entirely to live it every day. This is why most movies about the Cold War, the KGB or communist regimes are complete fantasies: both versions of The Manchurian Candidate, The Hunt for Red October and The Russia House (both with Sean Connery), etc. While the The Cold War is long over, the relationship between Moscow and Washington seems to be the news of the hour again. So… here is a movie about how the real geopolitics work and what really went on behind the Iron Curtain.
Jack Strong is a great spy thriller and a real life story of a Polish Army colonel who made a heroic decision to wage a one-man resistance against the Soviets. The movie was made where the events took place (in Warsaw), it was made by the people who actually lived there during communism (Polish and Russian actors, an important Polish director Wladyslaw Pasikowski), and where a lot information was only recently declassified.
In 1970’s when the movie takes place, Poland was part of the Warsaw Pact – a military block of Eastern European countries (like Czechoslovakia or Hungary) that were meant to be the direct opposing force to the NATO alliance in Europe. The Polish Army was “allied” with the Soviet Army through the Pact which meant that all Polish officers were supposed to serve the military interest of the Soviet Union. Colonel Ryszard Kuklinski served in the headquarters of the Warsaw Pact joint forces and as such he was uniquely positioned to be aware of any Red Army plans in the Eastern Europe. One such “war game scenarios” in 1970’s was to confront the NATO forces with nuclear warheads deployed out of the territory of Poland. Col. Kuklinski decided that he was a Pole first and a Warsaw Pact officer second, and contacted the CIA to start passing the Russian military plans directly to Washington. He was a Cold War equivalent of the Deep Throat, except the stakes were a bit higher – this a one-man attempt to stop a European nuclear war.
For the Poles, especially those who remember life under the Soviet regime, this is a movie about the slow loss of sovereignty, the political helplessness of small country wedged for a thousand years between Germany and Russia and a great untold story of a Polish patriot who at a horrible cost to his personal life tried to stop the annihilation of his homeland.
For anyone else, this is a movie about the real Cold War, real espionage and the real game between the two superpowers. It is a terrific action movie that feels and looks authentic in every scene and which gives an insight into how crude, dirty, solitary and terrifying is the real life of a spy, especially the one who is part of the Soviet military machine. We see Kuklinski living in fear of being discovered, then in fear of not being able to escape. But he is not the only one who is afraid. There is a scene when the Red Army officer screams at a Polish Party member “Do something about your f…revolution!” He is afraid and rightly so — Solidarity is just round the corner, the fall of the Soviet Union as well. It is good sometimes to see a foreign movie which will have a different perspective from the US take on things, but movies outside Hollywood often lack the entertainment value. Jack Strong has both – some great political insights and riveting thriller scenes to watch as well.
Col. Kuklinski’s grave at the Powazki Military Cemetery in Warsaw is always full of flowers and vigil lights.
Food for the Soul Series
” Our politics have become so thoroughly demonic, that the sort of exorcism America needs now can only come from outside politics. It’s coming, too. It’s on its way. It will turn our economic situation upside down and inside out. It’s a Technicolor swan, and you can see it coming from a thousand miles out.” ~James Howard Kunstler
By Catherine Austin Fitts
I am in Dahka, the capital of Bangladesh, after a wonderful week in Hong Kong.
I am visiting with Congresswoman McKinney and meeting and touring with her entrepreneurship students. Everywhere I go, I watch the world watch the US destroy its brand. It is has too many parts of America has been hijacked by a demonic Neocon force – McKinney refers to them as the Ziocons. I call them the Scorpions. They seem to believe that WW III will destroy the US and Russia and then they can rule the planet. Or maybe they just want to blow everything up.
Unfortunately, they are that nuts. Investors need to appreciate that building the weapons to start WW III may run the market up, but if WW III actually happens there will be no market.
Chuck Schumer, John McCain, Lindsay Graham, Nancy Pelosi – these people stopped caring long ago about the conditions that create civilization. They are puppets on Ziocon strings.
The global psychic storm is appalled as the demonic forces show their face through the US national security state. I hate to agree with Kunstler but a swan event is indeed building.