SOVEREIGN WEALTH FUNDS MUST BE REGULATED.

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ALT

BY THE YEAR 2015 SOVEREIGN WEALTH FUNDS ARE PROJECTED TO REACH $15 TRILLION.

If we and our governments don’t wake up to these funds and get away from the perception that they are as Saviors of the Western Financial system they will not only privatize everything, but they will lay the foundations for future world conflicts.

At best globalization is a lopsided process.

Why should we allow governments to transfer ownership of business, public services and national resources to the Private sector by sales in whole or part to foreign government – controlled firms or Investment Funds.

There must be a comprehensive International Agreement governing all types of cross-border investments by Governments.

You only have to look at the recent sale of the Royal Mail in the Uk a national asset.

Abu Dhabi Investment Authority, billionaire investor George Soros and activist hedge fund Third Point were among the 16 investors given preferential treatment.  City fund manager Threadneedle received the highest allocation – about 19.5m, equivalent to a 2% stake – and Third Point, the US hedge fund led by activist investor Daniel Loeb, the smallest at 5m – 0.5% of the company.

The list of 16 priority investors included strange beasts who would not fit anybody’s definition of cuddly, reliable, long-term types. Long term my arse they cashed in.  Even the investment arm of the government’s advisers at City firm Lazard had made an £8m profit selling shares in the first week. The privatisation rush will cost taxpayers dearly.

Now I know that there are more pressing problems in the world, wars, starvation, climate change, inequality, technology wast lands, most of which can only be resolved by applying a World Aid commission on all stock exchange transactions.

This which can only be achieved by people’s power demanding such before we are all commodities.

 

NATURAL LAW GOVERNS ALL TECHNOLOGY NOW AND IN THE FUTURE

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Just in case you are one of those lonely people with 500 friends on Facebook, (most of them you never hear of but promoted by a faceless Facebook prompt) tweets all day long, can’t go anywhere without you smart phone, spend most of your time looking down into LCD screens, Googling , Flip Boarding, never experiencing real cooking, real friendship, real conversation with body language, doesn’t know what true or false, you are on a complex collision with what life is really like.

Now don’t get me wrong I am not against Technological advances but I am somewhat  fearful that we are not seeing as yet a genuine revolution of Technology.  We are creating a world which is not connected but becoming more and more disconnected.  A world of vast inequalities.

What we can do in the world depends on what we can make.

Take for instance the Internet.  Prosperity= Internet.  Poverty=no Internet.

There is no doubt that the world as we ( the older generation) have known it is coming to an end.

The microchip is everywhere and no where.

We are only on the threshold of Technology. It won’t be long before the whole lot will be on your wrist, or in your contact lenses.

With you very own genome map on a DNA chip that will be down loaded to grow replacement new body parts, and analyze your health while sitting on the toilet.   Cant wait! for the Robots with AI.

Before you all get carried away here is a dose of Present Day conflict worldwide.

Realities that are turned into entertainment by the Mass media, before the weather forecast.  Why are there so many.?  Because we are disconnected to the reasons. The present day War in Syria started with a Drought.

AMERICANS:

5 Countries.
25 drug cartels, militias guerrillas, separatist, anarchic groups involved.

Europe:

8 Countries.
68 militias guerrillas, separatist, anarchic groups involved

Middle East:

8 countries.
168 militias guerrillas, separatist, anarchic groups involved.

Asia:

15 Countries;
127 militias guerrillas, separatist, anarchic groups involved.

Africa:

24 Countries:
145 militias guerrillas, separatist, anarchic groups involved

Total 60 Countries: 534 militias guerrillas, separatist, anarchic groups involved.

All the communication technology in the world is worthless if we don’t value life rather than Profit for Profit sake.

 

Co2

Where Does Carbon Dioxide Really Come From?

PLIMER:

“The volcanic eruption in Iceland since its first spewing of volcanic ash has, in just FOUR DAYS, NEGATED EVERY SINGLE EFFORT you have made in the past five years to control CO2 emissions on our planet – all of you.” (2010)

Of course, you know about this evil carbon dioxide that we are trying to suppress – it’s that vital chemical compound that every plant requires to live and grow and to synthesize into oxygen for us humans and all animal life. I know….it’s very disheartening to realize that all of the carbon emission savings you have accomplished while suffering the inconvenience and expense of driving Prius hybrids, buying fabric grocery bags, sitting up till midnight to finish your kids “The Green Revolution” science project, throwing out all of your non-green cleaning supplies, using only two squares of toilet paper, putting a brick in your toilet tank reservoir, selling your SUV and speedboat, vacationing at home instead of abroad, nearly getting hit every day on your bicycle, replacing all of your 50 cent light bulbs with $10.00 light bulbs…..well, all of those things you have done have all gone down the tubes in just four days.

The volcanic ash emitted into the Earth’s atmosphere in just four days – yes, FOUR DAYS – by that volcano in Iceland totally erased every single effort you have made to reduce the evil beast, carbon. And there are around 200 active volcanoes on the planet spewing out this crud at any one time – EVERY DAY.

I don’t really want to rain on your parade too much, but I should mention that when the volcano Mt. Pinatubo erupted in the Philippines in 1991, it
spewed more greenhouse gases into the atmosphere than the entire human race had emitted in all its years on earth.

Yes, Mt. Pinatubo was active for over one year – think about it. Of course, I shouldn’t spoil this ‘touchy-feely tree-hugging moment and mention the effect of solar and cosmic activity and the well-recognized 800-year global heating and cooling cycle, which keeps happening despite our completely insignificant efforts to affect climate change. And I do wish I had a silver lining to this volcanic ash cloud, but the fact of the matter is that the bush fire season across the western USA and Australia this year alone will negate your efforts to reduce carbon in our world for the next two to three years. And it happens every year.

Just remember that your government just tried to impose a whopping carbon tax on you, on the basis of the bogus ‘human-caused’ climate-change scenario. Hey, isn’t it interesting how they don’t mention ‘Global Warming’ anymore, but just ‘Climate Change’ – know why? It’s because the planet has COOLED by 0.7 degrees in the past century, and these global warming bull artists got caught with their pants down. And, just keep in mind that you might yet have an Emissions Trading Scheme – that whopping new tax – imposed on you that will achieve absolutely nothing except make you poorer. It won’t stop any volcanoes from erupting, that’s for sure.

But, hey, relax……give the world a hug and have a nice day!”

TIME TO WAKE UP TO THE POWER OF – SOVEREIGN WEALTH FUNDS.

These funds are unwinding the Global balance and it is indeed time that we all cotton on.  If we don’t want our unborn to be born into a world that is sold to Privatisation. Modern day Slavery on a global scale 

Operating through Hedge Funds, Derivatives, Leverage buyout firms, real estate purchase, Speculators in the commodity futures market, Foreign currency, and god only knows in what else.

These Funds are impairing the spread of democracy as they are creating “Rentier States” where governments will not need their citizens to raise revenue.

They are offer protection to Authoritarian Regimes from the vicissitudes of the free market.

They will end up as weapons. Financial muscle in global power struggles.

They will change the equation of World cooperation, on trade , climate change and will eventually cause what I call a “Financial balance of terror or a Nuclear Financial threat.

If you don’t believe me.

Here a few items that a few SWFS own in Britain.

A consortium of Canadian SWFs currently own the Railway Link between London and the Channel Tunnel.

Blue Water Shopping Center owned by Singapore SWFs.

Kelda Group ( water and wast management) owned by Singapore SWFs.

Qatar SWFs owns:

20% of the London stock exchange.

20% of Camden Market.

6.67% of Barclay’s Bank

26% of Sainsburys.

The Olympic Village Buildings.

The Shard.

Chelsea Barracks and NI Hyde Park flats.

Harrods.

Swathes of Canary Wharf.

95% of all liquefied Gas supplied to Britain.

Heathrow Airport 10% China Investment Corp SWFSs

The recent Royal Mail sale.

On the list of priority investors were hedge funds and overseas sovereign wealth funds.  Abu Dhabi Investment Authority, Black Rock, Capital Research, Fidelity Worldwide, GIC, Henderson, JPMorgan, Kuwait Investment Office, Lansdowne Partners, Och Ziff, Schroders, Soros, Standard Life, Third Point and Threadneedle.

The proposed HS2 which is estimated to cost 800 million will be financed by SWFs.

There are now more people in the world than the world’s total population in 1950 living on less than a $1-$5 a day. 24 countries own 64% of the world wealth with only 15% of the world’s population.

If nothing is done to curb their growing power we can all be classified as FOOLS

Have a look at my Flipboard  Magazine ” Silent witness to Sovereign Wealth Funds. 

 

 

PLAGUED BY CAPITALISM AND GLOBALISATION.

 

As feudalism was collapsing, a new way of extracting the surplus wealth from the direct producers had to be found. The invention of capitalism was the answer to this need. 

We are now living in a very unequal world and will continue doing so.

Here are a few thought provoking Quotes.

“Capitalism is that commercial system in which supply immediately answers to demand, and in which everybody seems to be thoroughly dissatisfied and unable to get anything he wants.” – How to Write a Detective Story, The Spice of Life.

“Business, especially big business, is now organized like an army. It is, as some would say, a sort of mild militarism without bloodshed; as I say, a militarism without the military virtues.” – The Thing.

“Price is a crazy and incalculable thing, while Value is an intrinsic and indestructible thing.” – Reflections on a Rotten Apple, The Well and the Shallows, 1935.

“The world will very soon be divided, unless I am mistaken, into those who still go on explaining our success, and those somewhat more intelligent who are trying to explain our failure.” – Speech to Anglo-Catholic Congress 6-29-20.

“The future is here, it’s just not evenly distributed yet.” It was a clever phrase when William Gibson coined it, but now it is well past its expiry date: it has become a lazy way to brush aside questioning voices. (85)

  1. The Internet makes communication cheaper, but it wrong to say it “democratizes the control of information”. (121)
  2. Facebook does not “want to strengthen the social ties that allow humans round the planet to connect, organize, converse, and share”

No hours contracts.  A form of modern day slavery.

 

 

There has never been such a high number of poor. By poor I dont just mean those living on $1-$5 a day I mean those deprived of opportunity in the World.

WHERE’S THE GLOBAL OUTRAGE ?

 

 

My last blog ( The language of poverty is changing) stated:

“That Inequality is full of blame, while poverty is full of reality.”

True or False.

To answer, let me take you on a journey into what the word poverty describe,s in our world of modern day Poverty.

But first let us attempt to agree on what we mean by poverty. Can it be easily defined?

What does the World Bank say?
Poverty is hunger. Poverty is lack of shelter. Poverty is being sick and not being able to see a doctor. Poverty is not having access to school and not knowing how to read. Poverty is not having a job, is fear for the future, living one day at a time. Poverty is losing a child to illness brought about by unclean water. Poverty is powerlessness, lack of representation and freedom.

The European Union’s working definition of poverty is:
Persons, families and groups of persons whose resources (material, cultural and social) are so limited as to exclude them from the minimum acceptable way of life in the Member State to which they belong.

There is no single, universally accepted standard definition of poverty. Modern definitions of poverty have moved away from conceptions based on a lack of physical necessities towards a more social and relative understanding of Inequality.

This is now the most commonly used definition of poverty in the industrialised world.

It recognises that poverty is not just about income but also about the effective exclusion of people living in poverty from ordinary living patterns, customs and activities.

And the United Nations, in a statement in June 1998 said:
Fundamentally, poverty is a denial of choices and opportunities, a violation of human dignity. It means lack of basic capacity to participate effectively in society. It means not having enough to feed and cloth a family, not having a school or clinic to go to, not having the land on which to grow one’s food or a job to earn one’s living, not having access to credit. It means insecurity, powerlessness and exclusion of individuals, households and communities. It means susceptibility to violence, and it often implies living on marginal or fragile environments, without access to clean water or sanitation.

Where does this get us? Trawl the web and you will find many other attempts to define poverty – some even distinguishing between Absolute and Relative poverty.

Is poverty man made?

Poverty is an unnatural state. Man has dominion over all the animals and plants and yet he is the only animal to be afflicted by poverty. When did you last see a warren of rabbits begging for work? Or blackbirds begging for bread?

So it would seem that poverty must be an unnatural condition for which man has only himself to blame.

The entry in Wikipedia suggests that poverty is a personal failing:

When it comes to poverty in the United States, there are two main lines of thought. The most common line of thought within the U.S. is that a person is poor because of personal traits. These traits in turn have caused the person to fail. Supposed traits range from personality characteristics, such as laziness, to educational levels. Despite this range, it is always viewed as the individual’s personal failure not to climb out of poverty.

So there you have it. If you live in poverty it is your own fault.

However, ‘Poverty’ writes Peter Townsend, Emeritus Professor of Social Policy at Bristol University, a man who has devoted most of his life to making people aware of poverty and its causes, says:

” Poverty is not something people impose on themselves for want of effort and community organisation. It is constructed by divisive and discriminatory laws, inflexible organisations, acquisitive ideologies of wealth, a deeply-rooted class system and policies which serve privilege in the short term and destroy society in the long term. Poverty is caused by private monopoly, landlordism, employerism, ownership.”

Private monopoly? Landlordism? Whatever does he mean?

What experts say about the cause of poverty?

The ‘Dollar a day’ organisations says:

There is no single cause of poverty. Poverty is too complex an issue to be the result of just one problem. There are, however, many interrelated factors that contribute to poverty in developing nations.

Lilian Brandt, writing in the Political Science Quarterly, 23 (1908), suggested:

Around the world, the causes of poverty are similar. Lack of finances, health care and education are common causes of poverty. Still, the causes of poverty aren’t just about going without materials. Of all the causes of poverty, the most devastating is the lack of hope — a feeling that “I don’t matter.” Compassion International

Child Poverty Action Group:
The main cause of poverty is inadequate income, arising cfrom worklessness, low wages and the low level of benefits.

Ask yourself:

Why is income inadequate? What is the reason for unemployment? Why should man, with all his creative powers and manual strength be reliant on benefits? There has to be another factor. There has to be a fundament cause.

An organisation called Smallstock in development comes close:

Poverty is diverse and comes in many forms. However, there are many common factors, and these mostly tend to be related to limited access to land, assets, and services.

One more quotation, from Fight Poverty, will serve to illustrate the confusion of thought:

Poverty has many causes, some of them very basic.

Some experts suggest, for instance, that the world has too many people, too few jobs, and not enough food. But such basic causes are quite intractable and not easily eradicated. In most cases, the causes and effects of poverty interact, so that what makes people poor also creates conditions that keep them poor. Primary factors that may lead to poverty include overpopulation, the unequal distribution of resources in the world economy, inability to meet high standards of living and costs of living, inadequate education and employment opportunities, environmental degradation, certain economic and demographic trends, and welfare incentives.

Did they say ‘primary factors’? They did but they didn’t. The ‘primary’ factors they suggest are in fact all secondary factors. What are ‘primary factors?’

Economics is a science and definitions have to be precise in order to distinguish between cause and effect. The effects of poverty are myriad. But poverty has a single cause.

Poverty is caused by a lack of production of basic necessities.

The primary factors of production are land and labour. Labour applied to land produces wages and wealth. David Ricardo postulated in 1817:
Where land is free (unenclosed) wages depend on the margin of production, or upon the produce that labour can obtain at the highest point of natural productiveness open to it without the payment of rent. Where land is all enclosed the level of wages are reduced to the least a man will accept.

So immediately we have a focus on land and the level of wages – so often quoted in the statements above.

Adam Smith writes from (true life) to reinforce the suggestion that wages are not limited where land is freely available:

In treating of the Causes of the Prosperity of New Colonies (Wealth of Nations, book 4, chapter 7), he says: “Every colonist gets more land than he can possibly cultivate. He has no rent, and scarce any taxes to pay…. He is eager, therefore, to collect labourers from all quarters, and to reward them with most liberal wages. But those liberal wages, joined to the plenty and cheapness of land, soon make those labourers leave him in order to become landlords themselves, and to reward, with equal liberality, other labourers, who soon leave them for the same reason that they left their first master.

Now let us try to examine the problem of poverty and why all the money and charity in the world have not provided a long-term solution.

There will always be people who are poorer than others but there should be no paupers. Poverty is an unnatural state.

The world is endowed with untold resources. Man has unlimited powers of initiative and ingenuity. Why are millions of human beings unable to provide adequately for themselves and forced to live in degrading poverty? Dependent on ‘benefits’ whether they come from their own government or international charity.

Humanity acknowledges that to harness the labour of others in slavery is wicked. But to claim land as private property is considered a natural right. Until we can see that land is a free gift of nature and is the inheritance of all people we will continue to endure all the social evils we attribute to poverty throughout the world.

The root cause of poverty for me lies in private ownership of the natural resource essential to life.

Private property in land has been long established. In giving all men equal rights of access to land it is not necessary to confiscate land, undo titles or nationalise land. It is simply a matter of collecting the land value rental thereby returning to the community the value created by the community. This can be achieved through Land Value Taxation.

The real tragic truth is that the accumulating of capital by the rich is the real cause of Poverty.

This accumulating is causing society to become too unequal. With the distribution of wealth remaining at the top of society causing inequality of opportunity.

According to the Inter- Nation Labor Organisation (ILO) there are 215 million five to 17 year olds trapped in child labor to day. By 2020 there will still be 170-190 million.

Thomas Piketty in his new book suggest a global wealth tax which in my view is impossible to ACHIVE.

It is also impossible to stop the poverty of Inherence capital.

The only way to spread wealth is to place a world wide Aid tax or Commission on all stock exchange transactions.

THE LANGUAGE OF POVERTY IS CHANGING

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If you have even been on the end of a tongue lashing, or received praise you will appreciate the power of Language.

Society is reflected in Language.

Is this the reason that Poverty is being replaced in Language by the word Inequality.

Inequality of wages, inequality of opportunity, inequality of education, Inequality of benefits, inequality of immigration, till you arrive at the inequality of inequality.

My point here is that by replacing the word Poverty with Inequality LANGUAGE is making a consciousness shift in our behavior to Poverty.

FOR EXAMPLE.  Governments legalisation of gambling with Lotteries that take most of it money from the poor to pay for affluent people ‘s activities is a form of moral decay in our Societies.

You might not think that language has the power to changes your perception. You would be wrong.

Language has being used to dehumanize the enemy in all recent wars.

Here are a few examples in no particular order.

Cruts, Nips, Goons, Terrorists, Charlie, Hun, Jerry, Haji, Ragheads, Pinko, Tiliban, Rubble-Heads, Towel heads, Shinnies, Dink, Slope – Bastards, Nips,

Once poverty ment.

Deprivation, want, insecurity, helpless, powerlessness, inferiority, pitiable, despicable, beggar, vagabond, leper, undeserving, deserving, humble,dependent on Charitable relief.

These days Poverty means :

Immigration, human misery amidst the plenty.

In work poverty, no hours contracts, minimum wage, benefits.

Education, state against private.

Refugee. Natural disasters, wars.

Exploitation. Modern day slavery.

You may think that this is of no consequence, but once society starts to dehumanise its social and moral values with words it is devaluing its core values to the whims of the rich condemning the poor to the Scratch card of life.

Inequality is full of blame, while poverty is full reality.

Try it for yourself. Close your eyes. Say poverty. Now say inequality.

I am sure you will appreciate the difference.

THEY ARE PLUNDERING THE PLANET

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High consumption levels and over exploitation for the sake of profit is continuing to destroy our beautiful planet.

I can hear you saying so what is new.

Nothing I suppose.

But anyone with any intelligence is and should be by now realizing  that with Climate Change we have constructed a materialistic civilization  that is addicted to ravishing its life support system.

The question is. Why is it that we seem unable to agree a plan?

The simple answer is the fear of profit impacts.

What is driving this fear? Unadulterated Greed.

This greed in recent years has taken a new form call Sovereign Wealth Funds.

These are State backed investment bodies that are roaming the globe in search of Profit.

Investment funds that are threatening the hierarchy of legal authority and if not capped will convert all our efforts to combat the ills of the world into commodities to be sold. Air, Water, Energy, CO2 Credits, you name it.

A Sovereign Fund by its definition behaves no different from the state it is appendix.

With such concentrations of economic power they subvert the power of civil rights and human rights.

There is no distinction between state and private interests. No one knows who takes decisions within SWF’s or what criteria they have other than to make profit.

If you think that in the Arab world ( where billions from oil revenue are in these Funds ) there are no contracts on an institution to institution, state to state, or enterprise to enterprise all are a person to person, not to mention Russia or China you would have reason to fear the Privatisation of the Globe by these Funds.

They are not going away but are becoming an increasingly powerful actor in the International Political System and world economy.

In developing Countries they are replacing the World Bank and the IMF ( which might not be a bad thing as both are somewhat dysfunctional in a World economy that is run by computer software programs)

They are now major players in the market economic power struggle using economic globalization ( which does not exclude private market participants from its system) to freely move capital around the world.

You can imagine what is going ( if it is not already happening ) to happen to countries that don’t have capital wealth.

These funds are taking on the characteristics of large aggregation of private economic power for profit for profit sake.

I am sure being Sovereign that they are not subject to tax on their profits. strong>

 

THE FATALISTIC PULL OF CAPITAL ACCUMULATION.

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The bankers, the CEO’s are not vulnerable to the vote of the common people.
(which they both pay for)

In allowing the continuing privatisation of the Planet uncontested by any rival you might be leaf to think that 9/11 put god’s stamp of approval on Capitalism as a way of life.

But when you look at Africa you might ask is Capitalism turning it into the recycling bin of the world.

We are living in a system that can never be satisfied no matter what we do.

It seems that the entire neoliberal system is held together by what appears to be common sensical myths and deceits all happily coexisting in the commodification of our daily life.

Massive growth of corporate power; globalization is not as some abstract, independent, natural development process, but rather a ruthless, corporate driven extension of commodity production.

It knows of no boundaries or limits to its grand designs, to its gathering of wealth, privilege and power.

Reshaping every dimension of human activity, it is intensifying social divisions which will result in a nightmarish world, with the spread of ecological devastation that recognizes no territorial or cultural boundaries.

Most people, however remain in a state of numbing resignation.

This may be true, but if we are to reevaluate the meaning of democracy we must find a way of making Capitalism responsible.

No better place to start than with Sovereign Wealth Funds capitalism’ s suicidal attempt to colonise nature, and privatize the world. It proceeds as yet unchecked.

I have said in previous blogs that we are incapable due to the God of Greed to acting as one.

If we do not cap the activities of these funds there will be nothing left that you can call FREE other than God.

ARE YOU ONE OF THE MANIPULATED ?

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Privatisation of our world is turning Democracy into an empty form of Political ideology.

Don’t get me wrong, Democracy as a political system out guns all other forms of governance.

Because it is a political system for choosing and replacing the government through free and fair elections.

Because it allows the active participation of the people, as citizens, in politics and civic life.

Because it endeavors to protection of the human rights of all citizens.

Because it is a rule of law, in which the laws and procedures apply equally to all citizens.

However, competitive return on Investment Capital is eroding the very essence of the blood given by hundred of thousands of our forefathers sacrifice’s in both world wars.

Why do I say this?    Because it is being Privatised right in front of our eyes for Profit.

Let me give you an example.

It is my belief that our elected representatives in Government ( how manage our hard earned taxes) are being hoodwinked by the Economy into thinking that every service and national resource operates better under market forces rather than state control.

I have nothing against a fair Profit on Investment but I do object to what I call Eternal Profits.

Lets say you build a Toll Bridge, or a Toll road requiring X billion in investment.

I am sure you would agree that the investment should have a fair return but not an Eternal One. The bridge or Road should revert to the nation and be free to its citizens or at least begin to add revenue at a reduced rate to Government coffers for future projects.

This is not happening with Sovereign Wealth Funds investment.  No only does the profit on return not stay in the country to create jobs or whatever it disappears to enhance the profits of the Fund in whatever country the fund happens to be based in.

This does not seem very democratic to me.  It is the duty of our elected representatives to protect its citizens from exploitation.

By handing control of national resources and services to private enterprise it is achieving quite the opposite. Just look at anything that has been sold into the marketplace.  Energy, Health Care, Water, Public transportation, Education.

But there is no generally accepted definition of Democracy but Oscar Wild might have it right when he said,

” Democracy mean simply the bludgeoning of the people by the people for the people”

We won’t be able to stop Sovereign Wealth Funds from Privatising our lives but surely as intelligent people s we should Cap their Investments.