Realist, not conformist analysis of the latest financial, business and political news

Bashir’s Sudanese Cash Pile – What, You Mean A Dictator Was Corrupt?

Our word isn’t this a real surprise? And a turn up for the books. It’s turns out that Omar al-Bashir, the dictator of Sudan, might have been corrupt! Possibly, even, guilty of money laundering. And isn’t that just a flabberghast then?

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””] Suitcases packed with more than £100m have been found by security services at the home of Sudan’s ousted president, it has been reported. Omar al-Bashir is now being investigated over alleged money laundering after the hoard of cash – in US dollars, euros and Sundanese pounds – was discovered while he was under house arrest. [/perfectpullquote]

Not that the Sudanese pounds are of any great interest. Being dictator means you can get the locals to do as you wish without having to pay them. It’s the ability to command the attention of those you don’t have political power over which makes money necessary.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]A source in Sudan’s judiciary told Reuters news agency that suitcases loaded with more than $351,000, €6m ($6.7m; £5.2m) and five billion Sudanese pounds ($105m) were found at Mr Bashir’s home.[/perfectpullquote]

Ah, so it’s just a bit of cash then and a lot of paper.

Just one of those examples of what all too many try to deny, public choice economics. Those who gain power over us are indeed motivated by their own economic interests then. Something to remember when we think of those who rule us.

Sure, we don’t think that Theresa has a suitcase of cash just in case, an avoshka bag of nalichami*. Uncle Vova probably does. But Ms. May does indeed have a stonking great pension as does near everyone else in public services. You know, humans, economic incentives?

*Half remembered, so apologies for errors.

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Chester Draws
Chester Draws
5 years ago

Big pensions for politicians is a good thing on the whole. It encourages them to leave the profession.

The worst is big pay while in and nothing when out. That encourages them to stay long after they have any interest at all.

Term limits is even better, of course.

5 years ago

No chance of a back track on the funds origin ?

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