John Agbey

That I be a blessing to humanity. So far as there is life, there is hope. Ambition is a priceless something in the vein. #BBMme 7E78827

[Handkerchief Tree @JovieOnandon]

@elonmusk Who knew the guy controlling Starlink and planning to colonize Mars is secretly just a five-year-old at heart

[Elon Musk @elonmusk]

🇺🇸🇺🇸 Welcome home! 🇺🇸🇺🇸

[Elon Musk @elonmusk]

Welcome to @xAI!

[UK House of Commons @HouseofCommons]

🔴 Home Secretary @ShabanaMahmood is making a statement on Asylum Policy.

Watch live ⬇️
https://t.co/wWzJJ8PhsE

[Elon Musk @elonmusk]

Cool

[John Agbey @kweisj]

@elonmusk If we strip it down to one line:
•Musk → You’ll see what he’s doing, even if it’s chaotic.
•Altman → You’ll hear a plan, even if parts of it stay behind closed doors.

So it’s really a choice between transparent turbulence and quiet strategy.

[Jack Montgomery @JackBMontgomery]

@ukhomeoffice Net migration *might* be down from the unprecedented, historic highs of the Boriswave (the 2024 provisional numbers are going to be revised up like they always are, so we'll see) but it's still far, far higher than at any point in history despite those few crazy Boriswave years.

[il Donaldo Trumpo @PapiTrumpo]

BOOOOOOOM!!!😎🇺🇸

[Bright Simons @BBSimons]

I have been asked to make my MAIN point about gold & the Cedi in a shorter post. Let me try.

1. Ghana's fiscal & monetary policies are being tethered too strongly to gold, at a time when gold prices have moved to an unprecedented high.

2. The govt should conduct sensitivity analysis and calibrate various gold-linked policies to different probable prices. After which it should stress-test policies such as gold-for-reserves etc. against low gold prices.

3. I accept that the politics of the rising Cedi and booming gold exports are great optics for the govt. But as I often say whilst POLITICS are about the aggregate results (the WHATs), POLICY is about the HOWs. Those of us focused on policy must look beyond the pretty results to how they can be sustained.

4. For example, how much gold should Ghana have in its forex reserves? The Opposition accuses the Ruling Party of not increasing the gold portion of reserves at the same pace as before. Look carefully at the chart attached. You would see that gold has hovered around 30% of reserves for a while. Should the govt push it higher?

5. Sound policy analysis is needed to take such decisions. In a well-functioning society, the quality of such decisions would be as important as the POLITICS of an appreciating Cedi. Where the link between sound policy and good politics is broken, you get KATANOMICS. The danger there is that if, as some analysts fear, the HIGH PRICE of gold is what is causing the magic, then a major fall in gold prices can disrupt all the fine results. Then the same citizens who were full of praise would now turn on the govt.

6. At current prices, the value of gold in Ghana's reserves is ~$3.6bn. Just last year, the same amount of gold would have been worth ~$2.3 billion. Whilst the gold portion of our reserves today can cover 1.7 months of imports, the same amount of gold exactly a year ago would have covered just about a month of imports. In short, gold is a VOLATILE component of our reserves.

7. How then to decide whether to keep increasing the gold stock in the reserves? Normally, though not every time, when the dollar is weak, gold prices would be rising. When the dollar regains its strength, gold prices fall. On that naive basis, gold is often not as useful as raw dollars when you need to strengthen the currency.

8. Buying gold at high prices right now to sell to cushion the currency just at the same time that the dollar is weak doesn't seem like a very sharp policy move. Unless you just want GLOSSY POLITICAL OPTICS.

9. Hoarding more gold when its price is this high in the belief that you will sell the gold to back the Cedi when the dollar regains its strength is quite risky since you will be selling at a loss for less dollars than you may need.

10. In short, these are very complex policy considerations that require very diligent analysis. I am sure even the shallow bits I have hinted above is making your head spin as an average citizen. More rigorous calculations can show that everything I've said is tosh. But that's the whole point of SERIOUS POLICY DEBATE. That is why serious societies need strong policy communities. Whilst the citizens hold the govt accountable for aggregate welfare results (political accountability), the policy ecosystem holds it accountable for discrete policy performance (policy accountability). If that doesn't happen, then you get KATANOMICS.

[John Agbey @kweisj]

Martin Lewis: Is the £20,000 cash ISA about to be killed off? And if so,... https://t.co/SIARNIp133 via @YouTube

[Shaun Lintern @ShaunLintern]

Massive NHS productivity gain news...

[John Agbey @kweisj]

Body Language Expert: This Small Mistake Makes People Dislike You! The R... https://t.co/jca3Pa1oNB via @YouTube

[LBC @LBC]

Carol Vorderman, one of the country’s most popular and respected presenters, is officially joining LBC.

Her new programme will run on Sundays from 4-7pm. Welcome @carolvorders!

https://t.co/oghgZJukjo

[Gabby Otchere-Darko @GabbyDarko]

Ibrahim Mahama is an amazing creature of creativity. He makes us appreciate art in a way that is historically African, creative functionalism, if you like. He makes art out of functional objects that may no longer be seen as useful but sustainable. I will describe him as Africa's leading functionalist artist.

[John Agbey @kweisj]

@Joy997FM @adobeabiritwum WAEC candidates are just not writing wrong responses but it’s rather they failing to paraphrase responses to suit understanding in lieu to already WASSCE prescribed curriculum marking scheme. AI gives elaborate answers quite evasive from context and content of marking schemes

[Tyrone Marhguy @marhguy_tyrone]

Odds against odds. 8As bagged!! 🎉🎉🥳🥳🥳. We did it family; we made it! 🥳🥳🎉
#tyronemarhguy, #achimotaschool, #achimotarasta, #wassce, #8As, #NSMQ2023, #WASSCE, #WASSCE2023

[Ghana Digital & Innovation Week @thegdiw]

The worth of knowledge from participants could not be ignored. Contribute to Ghana's digital transformation.

#GDIW #GDIW23 #LetsInnovateTogether