Posts Tagged ‘Hosni Mubarak’

Indian ‘vanishing ink’ plot in Egypt’s Election

Did Islamic Brotherhood import pens from India with ‘vanishing’ ink to subvert elections in Egypt?

Rumor had it a devious conspiracy was afoot: Egyptians voting for a new president Saturday were being tricked into using pens with disappearing ink so their choice on the ballot would vanish before it was counted.

The claim seems to have emerged two days before the vote. A right-wing, Rush Limbaugh-style TV host, Tawfiq Okasha, known for his backing of the ruling military, accused the Muslim Brotherhood of importing 180,000 disappearing-ink pens from India. He proclaimed that they intended to distribute the pens outside polling stations to voters they believed would vote for Ahmed Shafiq, the former Mubarak prime minister running against the Brotherhood’s candidate, Mohammed Morsi.

“I warn everyone. I warn the Shafiq campaign. I warn all voters,” Okasha shouted on his show on the satellite channel he owns. “The voter will make his mark on the ballot with it and four hours later the mark disappears. The vote counters will open the ballot and find it blank.”

A Brotherhood spokesman, Mahmoud Ghozlan, denied the claims.

There was no concrete evidence for the rumors, but some voters in polling stations around the city were clearly concerned as they marked their paper ballots. Talk of a plot just deepened Egyptians’ worries that the dirty tricks rife in elections under authoritarian leader Hosni Mubarak were still in play and that powers greater than them still manipulate the system, even after a revolution last year aimed at bringing transparency.

“Is this the right pen?” an old man in a traditional galabeya robe shouted, holding one up to the judge supervising at a polling station in Giza, the sister city of Egypt’s capital, Cairo.

The rumor gained further ground when officials suggested the plot was a reality, though they did not accuse the Brotherhood or any other group.

Speaking to journalists Saturday, the interior minister in charge of security forces warned that the pens had indeed been brought in from abroad.

Farouq Sultan, the head of the presidential election commission, said that “once the rumor” spread, the commission asked the Interior Ministry to provide 50,000 pens for the polling centers to use. He and the interior minister said that election workers had been instructed not to let voters use anything but the official pens. Sultan said that “as far as he knew,” some vanishing-ink pens had been discovered in circulation. (via The ‘vanishing ink’ plot in Egypt vote – Yahoo! News).

Arab Spring – Is the West After Gold?

December 14, 2011 1 comment

In the last 60 years, the West has lost ‘market share’ in gold from more than 50% to nearly 20% of global gold reserves!

(Cartoon courtesy -; Cartoon by John Darkow, The Columbia Daily Tribune, Missouri.).

(Cartoon courtesy -; Cartoon by John Darkow, The Columbia Daily Tribune, Missouri.).

Rivers – shallow and dry

Arab Spring protests have petered out into directionless change – and the outlook seems bleak.

The unspoken element in these regime changes is the ‘personal’ wealth of the Egyptian and Tunisian rulers.

After Ben Ali, the Tunisian leader came to France, fleeing from his own country, the French Government seized a plane reputedly containing 1.5 tons of gold – that ‘belonged’ to the Tunisian ruler.

Gaddafi’s assets have been frozen in UK, USA and Switzerland.

Mubarak’s wealth

Estimates abound.

There is a lower range estimate of US$ 2-3 billion – which most reject as too conservative. CNN’s Tom Foreman puts in an astounding figure of US$40 billion-75 billion. Based on a video transcript, ‘Mubarak is worth somewhere between $40 billion and $75 billion, CNN’s Tom Foreman estimates’. An unsubstantiated report, estimates Mubarak’s gold holdings at US$ 9 billion.

Average prices of gold in February 2011, were in the region of US$45 million per tonne of gold. That would be 2000 tons – one of the largest hoards in the world. More gold than the national reserves of any country – except the Top 5 reserves.

Just carting around 2000 tons of gold – or its cash equivalent would be inviting trouble.

More on Egyptian gold

As the legs on Mubarak’s throne wobbled, gold prices also wobbled downwards – significantly?

Now why would that happen?

Egypt is not a major producer of gold. Production from the Sukari mines (started production in Jun 2009) is now at 1 ton – expected to go up to 14 tons (500,000 oz). Miniscule in comparison to global output at more than 2000 tons.

Alexander Nubia, a Toronto-based mining operator owns gold exploration properties at Abu Marwat that is expected to start production next year – with a potential of 500,000 oz – i.e. another 14 tons.

Total production in Egypt – less than 30 tons.

Egypt is also not a major buyer of gold. Total annual consumption of gold in Egypt is around 50 tons – about 3 weeks of India’s consumption.

Is it that players in the market expected Mubarak’s gold hoard to be dumped into the market?

Libyan Treasures

Libya’s official gold holdings are in the similar range as Egypt’s – some 143 tons. International bodies have estimated Libya’s reserves higher than 143 tonnes.

In March 2011, the IMF estimated Libya’s reserves even higher but the official amount remained 144 tons that were registered by Gaddafi-controlled Libya’s Central Bank.

This apart, Gaddafi surrounded himself with some gold trinkets – pistols, golf clubs, etc. After the capture and killing of Gaddafi, it is unclear the where and what of Libyan gold.

The Fall Of USSR

Western media has been tom-toming how Xerox and fax machines were behind the Soviet collapse.

Not quite. The real story …?

A lot of Nazi and Soviet gold came into the markets, it is surmised, during the 1999-2005 Central Bank Gold Sales agreement – which was put in place to depress gold prices. These depressed gold prices, that coincided with price declines in oil, platinum and other commodities, bankrupted the Soviet economy – and not Xerox and fax machines.

Is Arab gold the reason for this mayhem of regime changes?

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