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Spreadsheet Ranger

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Spreadsheet Ranger last won the day on June 22

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About Spreadsheet Ranger

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  1. This is a pretty common forum game, so maybe a few of you already know what it is. Basically, the first person makes a wish, then the next person grants the wish, but with some kind of loophole. Then the second person makes their own wish, and the next person corrupts it, and so on. Example: Poster 1: "I wish for a taco!" Poster 2: "Granted, but your mouth falls off so you can't eat it." "I wish for a monkey to be my man-servant!" Poster 3: "Granted, as a matter of fact, you get 20, but you are a tyrant as a master, and they start a monkey man-servant uprising and rebel against your harsh dictatorship." "I wish for..." And so on... I will start, I wish I had a photographic memory.
  2. @Groovy I like the idea (you get exposure to the upswing (and down), but you do not technically own any of the coins. Owning all those coins is a mission, because you need to keep all your wallets up to date and keep the info safe etc. So I like the DCX10 "fund", but personally I keep my own BTC (buy it through Luno (anything below $7k is a good price imo.) and then just keep it) for a start, later when you get comfortable you can send the BTC to a wallet like JAXX or Mycelium (my personal one I use). So in essence, try to buy your coins if possible, but to get exposure to the potensial gains of crypto (minus a 1% per year fee, which I think is a lot, it's too much.) get comfortable and then buy BTC and ETH on Luno and later send that to your own wallet so you are in control. I think @werner and theo other luno guys are on here to assist if you struggle. Ditto for Ice3X I think @IceCUBED Exchange is also here. @Energy the DCX token/fund is 69.9% bitcoin and bitcoin is down almost 20% from the $14k high, so DCx would be down as well. This should be a long term hold, 7+ years and that is where I find issue with the 1% per year fee, because that adds up.
  3. Same, calculator is buggy as hell. Return form does not work on Opera, cannot print anything.
  4. A criminal case has been opened against an unnamed former executive for his role in #Tongaat's accounting scandal. https://www.moneyweb.co.za/news/companies-and-deals/ex-tongaat-official-scrutinised-in-echo-of-steinhoff-scandal/
  5. Looking at the news it seems Iran vs the US is a real concern. Any idea why the markets keep going up despite this level of doom on the horizon? https://www.zerohedge.com/news/2019-06-22/iran-vows-one-bullet-our-direction-will-set-fire-us-allies
  6. The Middle East is one of the most complex regions in the world: Currently there are 4 failing states and 3 wars, with major powers increasingly taking opposite sides. Countless armed militias and terrorist groups are spreading violence across borders. The region has seen conflict after conflict going back well into the 20th century. But among all the uprisings, civil wars, and insurgencies, two countries always seem to be involved: Saudi Arabia and Iran. They’re bitter rivals, and their feud is the key to understanding conflicts in the Middle East. The Saudis and Iranians have never actually declared war on each other. Instead, they fight indirectly by supporting opposing sides in other countries and inciting conflicts. This is known as proxy warfare. And it’s had a devastating effect on the region. Countries, especially poor ones, can’t function if there are larger countries pulling strings within their borders. Both the Saudis and the Iranians, see these civil wars as both tremendous threats, and also potentially enormous opportunities. The Saudi-Iranian rivalry has become a fight over influence, and the whole region is a battlefield. It’s why the rivalry is being called: a Cold War. The most famous cold war was fought for 40 years between the United States and Soviet Union. Looking forward to the day when their flag would fly over the entire world. They never declared war on each other, but clashed in proxy wars around the world. Each side supported dictators, rebel groups, and intervened in civil wars to contain the other. Like the US and Soviet Union, Saudi Arabia and Iran are two powerful rivals - but instead of fighting for world dominance, they’re fighting over control of the Middle East. In order to understand the Saudi-Iranian rivalry, let’s go back to the origins of each country. In the early 1900s, the Arabian peninsula was a patchwork of tribes under the control of the Ottoman Empire. After World War I, the empire collapsed, leaving these tribes to fight each other for power. One tribe from the interior, the al-Saud, eventually conquered most of the peninsula. In 1932, they were recognized as the Kingdom of Saudi Arabia. 6 years later, massive oil reserves were discovered in Saudi Arabia, and, in an instant, the Saudi monarchy was rich. That oil money built roads and cities all around the desert country - and it helped forge an alliance with the US. On the eastern side of the Persian Gulf, another country was emerging, but having a much harder time. Iran also had massive oil reserves and an even bigger Muslim population. But constant foreign intervention was creating chaos. Since the 18th century, Iran had been invaded by the Russians and British twice. In 1953, the US secretly staged a coup, removing the popular prime minister, Mohammed Mosaddegh. In his place, they propped up a monarch, Reza Shah, who was aggressively reforming Iran into a secular, westernized country. But he harbored corruption and terrorized the population with his secret police, the Savak. By the 1970s, both Saudi Arabia and Iran had oil-based economies and had governments heavily backed by the US, but the feelings among each population were very different: Ultimately at the end of the day, the Shah of Iran, powerful as he was, simply did not have the same control over his people or ultimately the same legitimacy and affection that the Saudi people felt towards their monarchy at that point in time. That’s because Iran’s Muslims felt stifled by the Shah’s reformations and by the end of the decade, they finally fought back. Iran's Islamic revolution overthrew a powerful regime, that boasted military might. It’s really in 1979, when Ayatollah Khomeini and the Islamic revolution overthrow the Shah, that the real tension between Saudi Arabia and Iran begins. Ayatollah Khomeini was a Muslim clergyman, who preached against Western-backed secular monarchies. He advocated for a government that popular, Islamic, and led by the clergy. And In 1979, he led a revolution to establish just that. It was a massive international event that prompted reactions around the world especially in Saudi Arabia. The Iranian Revolution terrified the government of Saudi Arabia. They were fearful that Ayatollah Khomeini would inspire their populations to rise up against them, exactly the way he had caused the Iranian population to rise up against the Shah. There was a religious threat too. Up until now, the Saudis had claimed to be the leaders of the Muslim world. Largely because Islam’s two holiest sites, Mecca and Medina are in Saudi Arabia. But Khomeini claimed his popular revolution made Iran the legitimate Muslim state. There was another divide; Saudi Arabia’s population is mostly Sunni, the majority sect of Islam, while Khomeini and Iran are mostly Shia. Westerners always make a mistake by drawing an analogy between the Sunni-Shia split and the Protestant-Catholic split within Christianity. The Sunni-Shia split was never as violent. And in much of the Islamic world, when Sunnis and Shia were living in close proximity, they got along famously well. So, while the Sunni-Shia split was not a reason for the rivalry, it was an important division. After the revolution, the Saudi’s fears came to life when Iran began “exporting its revolution”. This CIA report from 1980 details how the Iranian started helping groups, mostly Shia, trying to overthrow governments in Iraq, Afghanistan, and Saudi Arabia. And they prompted the Saudis to redouble their efforts, to fight against Iran. They bolstered their alliance with the US and formed the GCC, an alliance with other gulf monarchies. The stage was set for conflict. War in the gulf. Iraq invaded Iran in seven areas. With a 5:1 superiority, Iraqi forces moved quickly The rise of Iran as a regional power threatened other neighboring countries as well. In September 1980, Iraq, under the rule of dictator Saddam Hussein, invaded Iran. He was hoping to stop the Iranian revolution, gain power, and annex some of Iran’s oil reserves. But they didn’t get far. The war bogged down into stalemate complete with trench warfare, chemical weapons and heavy civilian casualties. When Iran started winning, the Saudis panicked, and came to Iraq’s rescue. They provided money, weapons, and logistical help. So it becomes critical to the Saudis that they build up Iraq, and build it up into a wall that can hold back the Iranian torrent that they have unleashed. The Saudi help allowed Iraq to fight until 1988. By then, nearly a million people had died. Iranians largely blamed the Saudis for the war and the feud escalated. Fast forward 15 years and Iraq again became the scene of a proxy war. In 2003 the US invaded Iraq and overthrew Saddam Hussein. Neither Saudi Arabia or Iran wanted this to happen, since Iraq had been acting as a buffer between them. But problems arose when the US struggled to replace Saddam. The United States has no idea what it is doing in Iraq after 2003. And it makes one mistake after another, that creates a security vacuum, and a failed state, and drives Iraq into all-out civil war. Without a government, armed militias took control of Iraq, splintering the population. Sunni and Shia militias suddenly sprang up all over the country. Many were radical Islamist groups who saw an opportunity to gain power amidst the chaos. These militias were readymade proxies for Saudi Arabia and Iran, and they both seized the opportunity to try and gain power. The Saudis started sending money and weapons to the Sunni militias, and Iran; the Shia. Iraq was suddenly a proxy war with Saudi Arabia and Iran supporting opposing sides. That trend continued into the Arab Spring, a series of anti-monarchy, pro-democracy protests that swept through the Middle East in 2011. This had very different consequences for Saudi Arabia and Iran: That is terrifying to the Saudis who are the ultimate status quo power. They want the region stable, and they don't want anbody rising up and overthrowing a sclerotic, autocratic government, for fear that it might inspire their own people to do the same. The Iranians are the ultimate anti-status quo power, they have been trying for decades to overturn the regional order. Each country threw their weight behind different groups, all over the Middle East. Just like in Iraq, the Saudis began supporting Sunni groups and governments while Iran helps Shia groups rise up against them. In Tunisia, the Saudi’s backed a dictator while the Iranians stoked protests. In Bahrain, Iran supported Shia leaders seeking to overthrow the government. Saudi Arabia, in turn, sent troops to help quash the unrest. Both got involved in Libya, Lebanon and Morocco As Saudi Arabia and Iran put more and more pressure on these countries… they began to collapse. Now the feud has gone a step further, with both countries deploying their own militaries. In Yemen, the Saudi military is on the ground helping the central government. They are fighting the rebels, called the Houthis, who are an Iranian proxy group. The reverse is happening in Syria. The Iranian military is fighting side by side with militias, some of them extremists groups like Hezbollah, in support of dictator Bashar al-Assad. They are fighting rebel Sunni groups, who are Saudi proxies. The more civil wars that broke out in the Middle East, the more Saudi Arabia and Iran became involved. Neither the government of Saudi Arabia nor the government of Iran are looking for a fight. But the problem is these civil wars create circumstances that no one could have predicted. Both the Iranians and the Saudis feel that their vital national interests, are threatened, are in jeopardy, because of different things happening in these civil wars, things they blame each other for. Now the cold war is drawing in other countries. The Saudi government is threatening Qatar, a tiny Gulf state that was developing ties with Iran. Meanwhile in Syria and Iraq, the terrorist group, ISIS is nearing defeat and both the Saudis and Iranians are angling to take control of that territory. It’s a Cold war that's becoming incredibly unpredictable. As the Middle East continues to destabilize, its hard to say how far these countries will go. Source
  7. @ThinusM86 did you buy DCX10 on EE yet?
  8. New venture by Michael Jordaan. Seems interesting. It’s a token that is linked to the DCX10 Index which tracks the top 10 crypto currencies, so it cannot be traded. So instead of creating risk by attempting to foresee movements in individual currencies you can spread the risk over the top 10. Similar to a regular ETF that tracks the index. I’m quite liking the idea, but am very interested in people’s thoughts. Some further reading: https://mybroadband.co.za/news/cryptocurrency/310383-michael-jordaans-cryptocurrency-investment-pick.html https://blogs.easyequities.co.za/invest-in-the-dcx10-crypto-token https://research.easyequities.co.za/investing-in-cryptocurrencies-easy https://www.dcx.capital/indexRules
  9. I bought some shares in them when they listed (only R1000-ish) and I forgot about them, but I see now they have been climbing quite steadily over the last few years since I bought. I am looking into buying some storage units and during this process I remembered I own SSS shares, being kind of involved in this specialized space I looked through new eyes at Stor-Age now.
  10. Attached is the TymeBank presentation from African Rainbow Capital. It's quite an interesting read and makes me even more excited about banking with TymeBank. TymeBank_AVIOR_Conference_11-06-19.pdf
  11. Ace Magashule doesn’t give a damn about you and your ability to feed your kids, educate them, or provide a better future for them than you had. If he did, he would not be in open warfare with the president and his economic cluster over the mandate of the Reserve Bank and its ownership. Frankly, a guy with no grip on the concept of quantitative easing and its likely consequences for a suffering country should not be making pronouncements on policy, regardless of his interpretation of the resolutions of the ANC conference at Nasrec of 2017 or its election manifesto. Those resolutions taken at Nasrec were full of the necessary caveats to protect the economy and the independence of the SA Reserve Bank. Critically on issues pertaining to the Reserve Bank, point 30 of the party resolution states:”Government must develop a proposal to ensure full public ownership in a manner that does not benefit private shareholder interests.” The party handed the Reserve Bank project to government. It entrusted its deployed cadres to positions of power to sensibly apply its resolutions. They have been provided the leeway to make those decisions in the best interests of the country. Yet its Secretary General this week embarked on an extraordinary public assault on the institution and its mandate, confusing an already complex issue with which the ANC must wrestle. The problem is that the wrestling match has turned into a full-blown no-holds-barred cage fight between ANC factions. It’s moved from obnoxious to toxic in a few short steps. And Magashule’s attempt to first delete a Thursday afternoon tweet, already screen-grabbed by observant politics watchers, and then to deny he’d sent it just as a conciliatory statement came from the office of the ANC president, was met with the derision it deserved. When I asked Reserve Bank Governor Lesetja Kganyago to respond to Magashule’s earlier statements on the need for government to implement ANC resolutions, he was unequivocal. The Reserve Bank does not respond to political parties. It’s answerable to the constitution via its government mandate. That's the way it should be. You can bet your bottom dollar that we will soon see proposals for amendments to the constitution governing the Reserve Bank mandate. Just as we have seen proposals to amend the constitution unnecessarily on land reform. In the meantime, Magashule appeared to come back into line and stressed that the statement issued from president Cyril Ramaphosa’s office that nationalising the Reserve Bank was not prudent, considering the state of the economy, was what had been agreed. It’s nothing more than cheap politicking in a battle for the control of the ANC. Having read the devastating evidence put forward in the Pieter-Louis Myburgh book “Gangster State”, which details the empire created by the former Free State premier, we can only assume that there is a connection between a sordid underworld detailed in the book and attempts to undermine much-needed overdue reforms. It’s also abundantly clear that South Africa is deeply vulnerable to the vagaries of ideological battles within the governing party. South Africa is one heartbeat away from a potentially destructive shift in the political landscape. Ramaphosa has deftly navigated through that morass so far, but the factional battles are undermining the real work South Africa needs to do to transform the economy into an engine for inclusive growth. Source: Bruce Whitfield is a multi-platform award-winning financial journalist and broadcaster.
  12. Tongaat Hulett's listing has been suspended - here's what we know about the crisis at the sugar giant On Monday, trading in South Africa's biggest sugar producer Tongaat Hulett was suspended on the JSE and in London. The 127-year company was first listed on the London Stock Exchange in 1939, and on the JSE since 1952. Tongaat asked that its listings be suspended because of accounting irregularities. Here’s what we know: Its results cannot be trusted At the end of last month, the board announced that its 2018 financial results can’t be relied on. Tongaat said an ongoing financial review has revealed that “certain past practices” do not reflect the company's business performance accurately. The company's equity (the value of the business after liabilities) in its 2018 financial results has been overstated by between R3.5 billion to R4.5 billion. The overstatements were related to the treatment of Tongaat's property assets, analysts told Business Insider SA. PricewaterhouseCoopers has been called in for a forensic investigation. Now, Tongaat has asked that its listing be suspended to protect investors against speculative trading - given that there isn’t enough reliable financial information about what the company is worth. The suspended listing will also allow management more time to support the completion of the investigation. “Whilst the Board is conscious that some shareholders or potential investors would prefer to retain the ability to buy and sell shares, the Board believes that the temporary suspension is in the best interests of shareholders as a whole.” Questions about its former CEO While Tongaat has blamed “certain past practices” for its accounting woes, it hasn't yet implicating former CEO Peter Staude nor financial head Murray Munro. Staude served as CEO since 2002 while Munro served as CFO since 2003. Both resigned days before Tongaat’s annual meeting in August 2018. Analysts who spoke to Business Insider South Africa said Staude should face the music. He received a total pay package of more than R13.5 million in 2018, and R20 million in the previous year - which included a R6.6 million cash bonus. Deloitte is in the firing line Deloitte was Tongaat’s auditor for more than 15 years. (It also audited Steinhoff.) The firm has launched an internal investigation, and replaced all senior auditors on the Tongaat audit. The Independent Regulatory Board for Auditors (IRBA) has also started an investigation into Deloitte’s work for Tongaat. Trading should resume in October this year Tongaat’s board says that it will ask for its listing to be reinstated when it releases its reviewed financial statements by the end of October. But the company is battling to survive Tongaat’s current market capitalisation is R2.2 billion, while its 2018 financial results show that total liabilities amount to R14.6 billion. Tongaat in February warned that its earnings will decline by as much as 250%. It has blamed a surge in sugar imports into South Africa for its difficulties, as well as the introduction of the sugar tax last year, which had a larger than expected impact on local demand, particularly in the beverage industry. The company is currently cutting costs, and has sent retrenchment letters to over 5,000 employees. It has also concluded agreements with its creditors. Source: Business Insider
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