Friday, February 10, 2017

"Vice Pope" Cardinal Oscar's Soros funding and Cardinal Pell's discovery of secret off-balance sheet funds within the Vatican

by Ganesh Sahathevan


Cardinal Oscar Rodriguez Maradiaga

As reported yesterday
"Vice Pope" Cardinal Oscar Rodríguez Maradiaga does not deny being funded by George Soros,and working with the "Catholic Spring " movement

In the above story it was concluded that Oscar appears to be in charge of a slush fund financed by George Soros, which is intended to be used for purposes Oscar sees fit, which may include financing of a "Catholic Spring".

While that story was the result of an independent investigation by this writer
it does seem that the Vatican's Prefect of the Secretariat for the Economy, Cardinal George Pell, may have uncovered the existence of similar financial structures, even if he did not quite understand what it is he had uncovered.
In late 2014 Pell announced that he had " discovered that ...... some hundreds of millions of euros were tucked away in particular sectional accounts (of departments within the Vatican ) and did not appear on the Vatican's balance sheet."

What was even more interesting than that revelation was the reaction of the Vatican's Director of the Holy See Press Office, Fr. Federico Lombardi, S.J, presumably acting under instructions from the  Vatican;s Secretary Of State  Cardinal Pietro Parolin:

It should be observed that Cardinal Pell has not referred to illegal, illicit or poorly administered funds, but rather funds that do not appear on the official balance sheets of the Holy See or of Vatican City State, and which have become known to the Secretariat for the Economy during the current process of examination and revision of Vatican administration, to acquire a more comprehensive knowledge of the latter in view of the planned rationalisation. It is indeed a sign and result of constructive cooperation between the various Vatican institutions.

Moreover, it was known and had been previously explained, also publicly by the Prefecture of Economic Affairs, that the consolidated balance sheets of the Holy See and Vatican City State, presented every year to the College of Cardinals, do not in any way encompass the totality of the numerous administrations under Vatican auspices, but only the main institutions of the Roman Curia and the State.

This statement was curious for Pell did not actually say that the accounts were "illegal".If anything Pell seemed not to understand that financial entities of any sort often have secret reserves, In fact, Pell concluded with some satisfaction that his discovery meant that the Vatican was well able to finance its activities:

“It is important to point out that the Vatican is not broke. Apart from the pension fund, which needs to be strengthened for the demands on it in 15 or 20 years, the Holy See is paying its way, while possessing substantial assets and investments.“In fact, we have discovered that the situation is much healthier than it seemed, because some hundreds of millions of euros were tucked away in particular sectional accounts and did not appear on the balance sheet. It is another question, impossible to answer, whether the Vatican should have much larger reserves.”

It does seem as if there is some concern within the Vatican that slush funds such as that which appear to be controlled by Cardinal Oscar ,  that ought to have been reported and accounted for as required by Canon Law, remain secret. Wikileaks and in time other publications are going to make that task  near impossible, and hence it is best that all concerned come clean,
END


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Thursday, February 9, 2017

"Vice Pope" Cardinal Oscar Rodríguez Maradiaga does not deny being funded by George Soros,and working with the "Catholic Spring " movement

by Ganesh Sahathevan


Cardinal Oscar Rodriguez Maradiaga
Cardinal Oscar Rodriguez Maradiaga (Wikipedia)




 Cardinal Oscar Rodríguez Maradiaga ,the so-called " vice Pope" given his close association with Pope Francis, has refused to answer questions concerning his work with a number of NGOs funded by billionaire George Soros.Cardinal Oscar has also refused to answer queries concerning any funding he, or entities associated with him, may have received from Soros.

The queries were put to Cardianl Oscar as  a result of he  being named in email communications between the former Clinton campaign manager John Podesta and US based Catholic NGOs backed in part by George Soros. The emails include this paragraph:

This is why we gathered at the Vatican in mid-June, at the encouragement of Cardinal Oscar Andres Rodriguez Maradiaga, often referred to as the "Vice Pope" and a strong supporter of PICO, who had urged us to share our stories, our perspective, and our hopes for the impact of Pope Francis' visit to the United States, with Vatican officials.
The emails also contain discussions of a Catholic Spring

There needs to be a Catholic Spring, in  which Catholics themselves demand the end of a middle ages dictatorship and  the beginning of a little democracy and respect for gender equality in the  Catholic church.

While the matter of the Podesta "Catholic Spring" emails was discussed widely in the US prior to last year's presidential election, there is no record anywhere of Cardinal Oscar being questioned about his role in the matter. He has now been questioned, and he has failed to clarify matters.

In addition, there is  evidence that in reviewing the queries sent him,  Cardinal Oscar consulted with parties in the US, possibly in San Francisco, New Jersey and Maryland, before deciding to maintain his silence on the matter.

It does appear as if the "Vice Pope" is on some campaign to change the Vatican from within, and that
he is doing so with what amounts to an illegal slush fund , financed by George Soros.


END


References -The Podesta emails



Re: opening for a Catholic Spring? just musing . . .

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Tuesday, February 7, 2017

Batuan Tengah akan dicantumkan: Malaysia's 2008 plans to reclaim land between Middle Rocks may soon come to fruition,with some help from China

by Ganesh Sahathevan




Utusan reported in 2008:

Menteri Luar, Datuk Seri Dr. Rais Yatim berkata, kedua-dua bongkah batu di Batuan Tengah atau Middle Rocks milik Malaysia yang terpisah antara jarak 500 hingga 600 meter di Selat Singapura mungkin akan dicantumkan

To be read with:
China can build military installations on coral reefs, China can certainly build installations on Middle Rocks.

See also Malaysia's Ministry Of Foreign Affairs archives.

END
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Monday, February 6, 2017

Shah Alam Chinese Reserve Land-Geely record share price suggests Proton acquisition is at discount to value of massive premium landbank

by Ganesh Sahathevan

The announcement of an acquisition usually leads to a spike in the share price of the target and drop in the share  price of the acquirer. When the reverse happens , it usually means that the market has determined that the target is being acquired at a  discount to intrinsic value.

Quite apart from its automobile business, Proton Holdings Bhd has a massive land bank, including that site in Shah Alam which then  owner DRB-HICOM had planned to develop as far back as 2013,at an estimated Gross Development Value of RM 4 billion.



DRB-HICOM Bhd plans to redevelop Proton’s manufacturing complex in Shah Alam 
into an integrated development  that will generate around RM4 billion in gross development value (GDV).

It is no mystery then that the Geely Auto share price is at an all time high, for reasons including the Proton acquisition (see Nikkei article below), Clearly, the market perceives that Geely is acquiring Proton at a discount,and that the automobile business is not necessarily the main component of the company that is to be acquired.


However, Shah Alam is considered Malay-Muslim or Bumiputera territory, where the Malay and Muslim identity is jealously guarded. Land in Shah Alam is in effect Malay reserve.
Geely, like other Chinese companies, is more likely than not to market the development to Chinese buyers exclusively so it  does appear that  the Proton land in Shah Alam will undergo a transformation into Chinese Reserve land.

END





February 6, 2017 4:50 pm JST

Geely Auto shares hit all-time high -- again

Optimism also boosts domestic rivals in Chinese market
NORIKO OKEMOTO, NQN staff writer
People visit the stand of Geely during an automobile exhibition in Nanjing city, Jiangsu province on Oct. 2, 2016. © AP
HONG KONG -- Shares of Geely Automobile Holdings have continued to be robust on the Hong Kong stock market. On Monday morning, the stock temporarily rose 5.2% from Friday to touch 10.26 Hong Kong dollars, renewing the all-time high it hit on Friday. Geely listed on the Hong Kong Stock Exchange in October 1997.
China's CMB International Securities last week raised the target price for the Chinese automaker, which has encouraged buying from investors. Another motivation is the rumor that the automaker is considering buying a factory from Malaysian carmaker Proton Holdings.
In a report dated Feb. 2, CMB International Securities projected that Geely would sell 1.03 million cars in 2017, higher than the maker's own target of one million units. The brokerage also raised the target price of the automaker to HK$9.43.
Spurred by the robust movement of Geely stocks, shares of other Chinese automakers also strengthened during the morning session -- including Great Wall Motor, Brilliance China Automotive and Guangzhou Automobile Group.
However, Lau Siu Cheung of Prudential Brokerage expressed caution over whether China's auto industry can continue to grow, citing the slowing consumer market in the country. Lau also noted that strong rivalries could lead to price competition. 

Related companies

Geely Automobile Holdings Ltd., Brilliance China Automotive Holdings Ltd., Guangzhou Automobile Group Co. Ltd., Great Wall Motor Co., Ltd.
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Sunday, February 5, 2017

Singapore can forget the Mersing Line, must now contend with the new Luconia Line

by Ganesh Sahathevan

 It is almost an article of faith that if Malaysia nnd Singapore go to war, Singapore will seek to move its line of effective control forward into Johor, to the so-called Mersing Line,also known in World War 2 as the Wellington Line.
(Source :Singapore 1942 By David Atwell)

 Fast forward 75 years, and one can see from recent developments that the new battle line is out in the South China Sea.It been previously reported on this blog that Malaysia's PM Najib has probably delivered effective control of the Luconia Shoals, in the north-east of the South China Sea, to China.
As reported:
Pedra Branca/Batu Puteh decision suggests Malaysia has surrendered right to Luconia-removing own flag from Luconia Shoals in stark contrast with past practise

 Then comes the matter of PM Najib's sudden interest in Pedra Branca ,and hence the Middle Rocks .As reported: 
China aims for Middle Rocks ,and Pedra Branca, via proxy Malaysia: Artificial islands in the Singapore Strait likely

 Given control over Luconia Shoals and Middle Rocks,  China has now an effective  line of control that extends over the South China Sea:

 This writer will leave it to readers to determine how this is going to affect the Singapore's defence and offence planning, but will remind leaders that the new line is an electronic construction fortified by physical facilities, both in the South China Sea and around it, especially in Malaysia.

END 
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China can build military installations on coral reefs, China can certainly build installations on Middle Rocks.

by Ganesh Sahathevan

As previously reported:
China aims for Middle Rocks ,and Pedra Branca, via proxy Malaysia: Artificial islands in the Singapore Strait likely


Adding to the above are these photos of the Middle Rocks, as well as other areas in the South China Sea where China has built military installations. Readers can determine for themselves if building on and around Middle Rocks is feasible.








Construction: The US Navy initially claimed China was creating a 'great wall of sand' (pictured in February 2014) in the South China Sea
China is creating a 'great wall of sand' in the South China Sea, the US Navy has claimed. Five islands have already been made, with two more in development. This image shows the Johnson Reef on 25 February 2014, which has seen land added drastically over the last three years. A Chinese vessel is seen at the top
Scenic: This photo (from March 2012) shows what the Johnson Reef in the disputed territory looked like before China started to build there
This photo, taken on 13 March 2012, shows what the Johnson Reef looked like before China started to build there. The Philippines has protested China's reclamation of land in the disputed reef in the South China Sea that can be used to build an airstrip or an offshore military base in the increasingly volatile region


SOURCE :
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Saturday, February 4, 2017

China aims for Middle Rocks ,and Pedra Branca, via proxy Malaysia: Artificial islands in the Singapore Strait likely

by Ganesh Sahathevan




Malaysia's decision to seek a review of the International Court Of Justice's Pedra Branca judgement may well be an attempt by the Government Of The Peoples Republic Of China to extend its collection of artificial islands to the Middle Rocks, a rocky outcrop to the south of Pedra Branca, but which the ICJ decided belonged to Malaysia.


Malaysia has since 2008 when the decision was handed down agreed to work with Singapore to arrive at a mutually acceptable delineation of the area, given the competing maritime claims that arise out of the ICJ's decision. Meetings have been held between the countries since 2008,and in 2010 there was agreement to conduct a  joint  hydrographic survey in and around Pedra Branca, and Middle Rocks.

Now however Malaysia is seeking to have the entire decision reviewed, and it does seem as if it is doing so with little basis. The determination to push on with the matter regardless raises the possibility that Malaysia will not mind losing ,so long as the Pedra Branca decision and all prior negotiations are rendered meaningless as a result of the matter remaining unresolved, or at least in contention due to perceived grievances on Malaysia's part. 

That would allow Malaysia to claim that the matter remains in dispute, and justify  a more aggressive assertion of sovereignty  ,such as island building, like China has in the South China Sea. Malaysia's leadership, especially under Prime Minister  Najib has shown little appetite for such aggression , but China of course is an old hand at that game. China has also shown itself willing  to ignore decisions of an international tribunal,and this far defy international criticism for doing so. 

Given that Malaysia and especially Najib are now very much beholden to China it is likely that this legal challenge is being orchestrated by China with the ultimate aim of controlling the eastern mouth of the Singapore Strait. It probably expects that Singapore will fold, just like the Philippines ,regardless of the legal position. 
END 



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