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07-24-24  savo

(EFE).- El presidente del Consejo Nacional Electoral (CNE) de Venezuela, Elvis Amoroso, denunció este miércoles que existe una campaña mediática contra los comicios de este domingo, en los que se escogerá al mandatario del país para el próximo sexenio, por lo que pidió a la Fiscalía observar estos hechos que constituyen, según dijo, un delito.

“Ahora arremeten duro, tienen varias semanas, los medios de comunicación internacional se la han dedicado al CNE, se la han dedicado a los venezolanos y se la han dedicado a la Fuerza Armada”, dijo Amoroso, durante el acto de despliegue de efectivos de seguridad para el resguardo de las votaciones, sin detallar a qué afirmaciones de los medios se refiere.

Consideró que las instituciones no pueden seguir “soportando esas injurias -que tampoco explicó- de los medios de comunicación”, los cuales, denunció, reciben dinero “robado a Venezuela y producto de narcotráfico”.

“Seguiremos monitoreando lo que viene de afuera y seguiremos monitoreando a los medios de aquí que le van a dar repique a lo que dicen allá. Vamos a observar, fiscal general, (porque) eso es un delito”, sostuvo.

Aunque responsabilizó a los medios internacionales por esta “campaña pagada”, criticó a los periódicos, emisoras de radio y canales de televisión nacionales por dar la “primera página” a “cualquier cosa que dicen contra” Venezuela desde el extranjero.

07-24-24  Merlino

Savo, I agree fwiw (assuming maduro is recognized)

07-24-24  panasonic

"MCM is better for a pop in prices.... maduro is better for a restructuring..."

Maduro using "fuerza bruta" is the only bad scenario.

07-24-24  savo

my view.. MCM is better for a pop in prices.... maduro is better for a restructuring...

Restructuring Prospects
Former Bank of America economist Francisco Rodriguez, who got the 2012 call right, said this time around he’s not going to try to anticipate the results. Venezuela’s electoral authority will announce Maduro’s victory regardless of the vote count, he said.
“Elections for Maduro are like ‘heads I win, tails you lose,’” he said. “This is a dictatorship that comes from an electoral movement, they have a machinery designed to compete.”
Bond prices would benefit either from a Maduro victory with international recognition or from an opposition win because both mean a higher likelihood of a restructuring, Grisanti said
Some are convinced that a restructuring under a legitimized Maduro administration could be even better for bondholders.
An opposition government will face governability issues that could delay or hinder negotiations with creditors, according to Ramiro Blazquez, head of research and strategy at BancTrust & Co.
“Maduro has a higher incentive for closing a quick restructuring and capturing investment for the oil sector,” he said.

07-24-24  carib

Let us hope everybody is allowed to vote, all votes are correctly counted, the result is announced respecting the correct counting, both sides recognise the result, both sides cooperate in the next steps.

07-24-24  carib

Security

VENZ 13⅝ 18 21.75 - 22.75 62.644 / 59.890 5727 / 5452 752.811MM
VENZ 13⅝ 18 21.25 - 22.25 64.118 / 61.236 5874 / 5586 300MM
VENZ 7 18 16.50 - 17.50 42.424 / 40.000 3705 / 3463 1MMM
VENZ 7¾ 19 17.75 - 18.50 43.662 / 41.892 3829 / 3652 2.496MMM
VENZ 6 20 16.50 - 17.25 36.364 / 34.783 3099 / 2941 1.5MMM
VENZ 12¾ 22 21.75 - 22.50 58.621 / 56.667 5325 / 5129 3MMM
VENZ 9 23 19.50 - 20.25 46.154 / 44.444 4078 / 3907 2MMM
VENZ 8¼ 24 19.15 - 19.90 1831.199 / 1745.838 182593 / 174056 2.496MMM
VENZ 7.65 25 18.65 - 19.40 608.937 / 580.241 60396 / 57527 1.6MMM
VENZ 11¾ 26 21.65 - 22.40 108.153 / 105.414 10328 / 10054 3MMM
VENZ 9¼ 27 21.50 - 22.25 79.153 / 77.182 7500 / 7303 4MMM
VENZ 9¼ 28 20.00 - 20.75 70.177 / 68.402 6569 / 6391 2MMM
VENZ 11.95 31 21.50 - 22.25 60.236 / 58.537 5536 / 5366 4.2MMM
VENZ 9⅜ 34 22.25 - 23.00 39.897 / 38.922 3579 / 3482 1.5MMM
VENZ 7 38 17.25 - 18.25 39.366 / 37.525 3509 / 3325 1.25MMM
*
PDVSA 8½ 20 89.00 - 91.00 9.551 / 9.341 418 / 397 1.684MMM
PDVSA 9 21 14.85 - 15.35 60.606 / 58.632 5523 / 5326 2.394MMM
PDVSA 12¾ 22 16.65 - 17.15 76.577 / 74.344 7120 / 6897 3MMM
PDVSA 6 22 11.65 - 12.15 51.502 / 49.383 4613 / 4401 3MMM
PDVSA 6 24 13.75 - 14.25 43.636 / 42.105 3826 / 3673 5MMM
PDVSA 6 26 13.85 - 14.35 124.027 / 121.278 11915 / 11640 4.5MMM
PDVSA 5⅜ 27 13.65 - 14.15 3MMM
PDVSA 9¾ 35 15.75 - 16.25 54.714 / 53.339 4984 / 4885 3MMM
PDVSA 5½ 37 13.65 - 14.15 39.778 / 38.659 3550 / 3438 1.5MMM


07-24-24  carib

Security

B Px

A Px

B Yield

A Yield

B Spd

A Spd
Amt
Out
VENZ 13⅝ 18
21.75
-
22.75
62.644
/
59.890
5727
/
5452
752.811MM
VENZ 13⅝ 18
21.25
-
22.25
64.118
/
61.236
5874
/
5586
300MM
VENZ 7 18
16.50
-
17.50
42.424
/
40.000
3705
/
3463
1MMM
VENZ 7¾ 19
17.75
-
18.50
43.662
/
41.892
3829
/
3652
2.496MMM
VENZ 6 20
16.50
-
17.25
36.364
/
34.783
3099
/
2941
1.5MMM
VENZ 12¾ 22
21.75
-
22.50
58.621
/
56.667
5325
/
5129
3MMM
VENZ 9 23
19.50
-
20.25
46.154
/
44.444
4078
/
3907
2MMM
VENZ 8¼ 24
19.15
-
19.90
1831.199
/
1745.838
182593
/
174056
2.496MMM
VENZ 7.65 25
18.65
-
19.40
608.937
/
580.241
60396
/
57527
1.6MMM
VENZ 11¾ 26
21.65
-
22.40
108.153
/
105.414
10328
/
10054
3MMM
VENZ 9¼ 27
21.50
-
22.25
79.153
/
77.182
7500
/
7303
4MMM
VENZ 9¼ 28
20.00
-
20.75
70.177
/
68.402
6569
/
6391
2MMM
VENZ 11.95 31
21.50
-
22.25
60.236
/
58.537
5536
/
5366
4.2MMM
VENZ 9⅜ 34
22.25
-
23.00
39.897
/
38.922
3579
/
3482
1.5MMM
VENZ 7 38
17.25
-
18.25
39.366
/
37.525
3509
/
3325
1.25MMM
*
PDVSA 8½ 20
89.00
-
91.00
9.551
/
9.341
418
/
397
1.684MMM
PDVSA 9 21
14.85
-
15.35
60.606
/
58.632
5523
/
5326
2.394MMM
PDVSA 12¾ 22
16.65
-
17.15
76.577
/
74.344
7120
/
6897
3MMM
PDVSA 6 22
11.65
-
12.15
51.502
/
49.383
4613
/
4401
3MMM
PDVSA 6 24
13.75
-
14.25
43.636
/
42.105
3826
/
3673
5MMM
PDVSA 6 26
13.85
-
14.35
124.027
/
121.278
11915
/
11640
4.5MMM
PDVSA 5⅜ 27
13.65
-
14.15
3MMM
PDVSA 9¾ 35
15.75
-
16.25
54.714
/
53.339
4984
/
4885
3MMM
PDVSA 5½ 37
13.65
-
14.15
39.778
/
38.659
3550
/
3438
1.5MMM

07-24-24  carib

Savo: who chairs the CNE?

07-24-24  savo

carib.. i do not buy the idea that the CNE is an appendix of the government. That is the oppo claiming fraud at every election since the revocatorio of 2004...


07-24-24  carib

Merlino: it's a case of "the mouse that roared" (very old funny movie)

07-24-24  carib

Savo: the veny regime is counting the votes, and announcing the official outcome.
By definition, if there is fraud, it's by the regime, so it is obvious they will recognise what they say.

07-24-24  Merlino

From mcm article "Under a democratic government, we could make our nation the energy hub of the Americas"
...............
Me highly doubt USA likes or is even neutral on this

07-24-24  carib

Whoever wins, big $$$ will be required for Veny.

07-24-24  carib

The first issue will be to see the actual outcome, on sunday.
then to see the official outcome. If there will be a big difference between the two, I do not see how Celso Amorim and Borrell/Costa will recognise, and Kamala neither.
If there is no difference, everyone will recognise, in my opinion.
In any case, there will have to be a transition process for things to wrk out fine for us, IMHO.

07-24-24  savo

it is odd... journalists ask if Maduro will concede in case he loses...

But nobody asks that same question to the opposition.

07-24-24  savo

Nicolás Maduro Guerra, el hijo de Nicolás Maduro, ofreció una entrevista a El País de España en la que aseguró que si Edmundo González gana el 28 de julio entregarán el poder. Además de esto, pasarán a ser oposición en el país.

Durante la conversación, el político fue insistente en que su padre ganará las elecciones. «Nosotros vamos a ganar, te lo ratifico. Soy aprehensivo con algunos medios de comunicación internacionales. No a un punto extremo, pero sí creo que están muy sesgados, que no ven, no están en la calle», dijo.

El periodista Juan Quesada le planteó qué pasaría si el opositor es quien resulte vencedor y ante esto, Maduro Guerra contestó: «Si Edmundo gana, entregamos y seremos oposición, listo. No nací en la presidencia, mi papá no nació siendo presidente. Yo nací en el Valle, estudié en un colegio público. Y si todo acaba para ser oposición, somos. Yo no sé si nos aguantan de oposición, somos un fastidio».

07-24-24  savo

(Bloomberg) -- Reliance Industries Ltd. has secured US
approval to resume importing oil from Venezuela despite White
House sanctions on the country, according to people familiar
with the development.
India’s largest privately owned refiner plans to start
purchasing Venezuelan crude soon, said the people, who asked not
to be named as the information is not public. Reliance accounted
for around 90% of India’s crude imports from Venezuela after the
sanctions were lifted last year, according to data intelligence
firm Kpler.

07-24-24  savo

merlino .. if maduro loses officially ...does not matter whether he concedes or not... he either gets quickly into a turkish airline plane or sleeps at the Elicoide.

07-24-24  pillz

I receive good yield from IB ...daily ...

07-24-24  pillz

Pana , yes naked calls and puts, I have a lot of naked puts on my Belgian RE portfolio, and all the cash that is not invested + the cash from short puts, I receive good yield from IB ...

07-24-24  Merlino

Is there a point 4) Urrutia (apparently, by a small difference) wins Maduro does not immediately concedes alleging irregularities in vote counting (to be audited) so as to negotiate his (and others) exit before transition of power by Jan 2025?

I do not know if this is possible, perhaps in this case maduro losses all power by J 29

07-24-24  panasonic

Savo, if Kamala didn't have the task to look less "lefty" I would go (1), now I'm more inclined to (2).

07-24-24  panasonic

Pilly, well done.

We are talking naked calls, not covered right?

07-24-24  pillz

btw, I only work with short puts and calls ,, I have many reasons to do it , as option are not considered as investment by my taxpayer ;-)

07-24-24  pillz

Pana, there was a lot of things that said me this time it must go down ... and it did ... and btw going short calls on TSLA is not soooo risky , each time it goes up by 5 - 6% I sell short term calls, this time it was for the quarter results ...,

07-24-24  savo

guys.. time to put some bets on Sunday's:

1) Maduro wins, MCM screams Fraud but US recognizes
2) Maduro wins, MCM screams Fraud and US does not recognize
3) Urrutia wins Maduro concedes

My inclination is for 1) but hope for 3)

07-24-24  panasonic

Pilly, congrats! risky one.

I don't do trades with unlimited losses vs limited profits but was the way to go for tsla.

07-24-24  leopardo

They are trading between 14 the 24 and 26
And 17 for the Pdvsa 12.75 22

07-24-24  panasonic

Closing price @14.80 for Pdvsa '21 in my acct.

07-24-24  savo

leo.. do you have prices for all PDVSAs?

07-24-24  leopardo

Pdvsa 22 above 17
2 1\2 trading days to go before elections...

07-24-24  spal

As expected , sold calls short term on TSLA , demain will take profit ...

===

Bravo!

07-24-24  spal

The Russell 2000 index of smaller stocks beat the S&P 500 over the seven days through Wednesday by the largest margin during a period of that length in data going back to 1986, according to Dow Jones Market Data. The Russell 1000 Value index, meanwhile, notched its biggest lead over its growth-stock counterpart since April 2001, after the dot-com bubble burst.

https://www.wsj.com/finance/stocks/a-stock-market-rotation-of-historic-proportions-is-taking-shape-da9b6546

07-24-24  pillz

As expected , sold calls short term on TSLA , demain will take profit ...

Tesla Profit Falls Short Again as Musk Demands Investor Patience

https://www.bloomberg.com/news/articles/2024-07-23/tesla-misses-profit-expectations-extending-weak-start-to-2024?srnd=homepage-europe&sref=4AsOqDNp

07-24-24  carib

FT

María Corina Machado
The writer is the leader of the Venezuelan opposition

There are a few days left until July 28. On that day, presidential elections will be held in Venezuela.
After 25 years of struggle, Venezuelans are facing the best opportunity we have had so far to overcome a dictatorial regime that has destroyed our economy and forced a quarter of our population to emigrate. Turning the upcoming elections into a real option for change has required extraordinary effort.
A couple of years ago, Nicolás Maduro’s regime felt relatively secure. The pandemic served as an excuse to further restrict the civil and political rights of citizens, while investing heavily in a narrative — both domestically and internationally — that “Venezuela has been fixed”.
Nothing could be further from the truth. Only those who can evade the reputational cost of doing business with this criminal regime want Maduro’s presidency to continue. The future of Venezuela is very bleak if he stays in power.
Venezuelans know this well. Change is a necessity on which we are placing all our hopes and investing all our efforts.The opportunity for something new emerged in 2023 with my election as the opposition candidate to confront Maduro. It was vital to us that this primary election was conducted without interference from the National Electoral Council controlled by the regime, using manual voting and facilitating the participation of Venezuelans abroad.
After many sham elections, these primaries reconciled Venezuelans with the good electoral practices essential for effective voting. More than 2mn people participated in this process, marking a true turning point.
The primaries revealed the reality that the government’s lies had hidden: Venezuelans were not complacent or apathetic, but outraged and willing to open a true electoral path for change.Since then, Venezuela has witnessed unprecedented events.
A massive citizens’ movement, as peaceful as it is powerful, has emerged from the remotest corners of the country.
People have rallied to support a campaign that is censored by the national press, radio and TV, financially limited and harassed in multiple ways by the regime.Maduro completely breached the agreement to organise free and fair elections reached between him and the opposition in Barbados on October 17 last year.
The first blow came from disregarding the results of the primaries, disqualifying me from competing in the presidential race through rigged judicial procedures. Later on, without giving any reason, they also prevented my replacement, Corina Yoris, from registering as a candidate.
As of the time of writing, 24 members of our campaign staff have been jailed or are seeking asylum in the Argentine embassy in Caracas. Regime security forces are closing down businesses and raiding the homes of people who support us.Despite all this, the citizens’ force continues to grow, now rallying around the candidacy of Edmundo González Urrutia.
All reasonably reliable polls show that twice as many voters, at worst, support González as the president. Maduro meanwhile claims he will stay “by hook or by crook”.It’s clear to us that “by crook” means committing a massive fraud and unleashing repressive violence. It means closing off the possibility of peaceful and democratic change. It also means perpetuating Venezuela’s current situation as a sanctuary for organised crime and the hybrid warfare promoted by Iran and Russia.
Millions more Venezuelan migrants will flood Latin America, North America and Europe, fleeing a predictably grim future.Only the hope of peaceful electoral change can contain this new migration surge.
Venezuelans do not want more hatred or violence. We are united in a desire for profound change. We know the regime cheats, and that is why we have put together the largest electoral monitoring organisation ever seen in our country and possibly in the entire region.
We are doing our part, and we need the determined support of democrats worldwide for the outcome of this election to be respected by the regime. That would encourage Maduro to engage in a negotiation for a peaceful transition to democracy.
Few countries have our potential. Under a democratic government, we could make our nation the energy hub of the Americas.

The debt accumulated by chavismo could be restructured and paid off as we restore the rule of law.

Most importantly, our people, now separated, could reunite and live together in Venezuela again. The dream of so many Venezuelan children who ask me to bring their parents back after years of earning a living abroad, could become a reality. We must prevail and make Venezuela free again.

07-23-24  savo

Redacción (ALN) .- El candidato presidencial del chavismo, Nicolás Maduro, aseguró que reconocerá los resultados de las elecciones de este 28 de julio.

“Vamos a reconocer y defender los resultados, y triunfará la paz antes, durante y después del 28 de julio”, indicó.

Además, sostuvo en una jornada de trabajo con los adultos mayores que la oposición ya está “cantando fraude”.

“Yo solo digo que nadie va a manchar el nombre de Venezuela y nadie va a manchar el proceso electoral. Llueva, truene o relampaguee el domingo habrá elecciones libres en Venezuela”, comentó.

07-23-24  spal

Added more TRMD.

It's shipping rates remain very solid as does the immediate outlook.

07-23-24  carib

A superpower will not remain such for long, if its elites are not conscious of the advantages and burdens that the status confers.

07-23-24  carib

Victor: as far as I am concerned, I would forbid tattoo joints to operate on minors (under 16), because of partially irreversible damage.
But if a person can marry and have kids.. that is also "irreversible" (for the newborn).
And, once again, what should be the limit of the government right to replace parents in decisions? it's a tricky issue.
I think the law should intervene only in the case of patently irresponsible decisions.
If the parent, the minor and a doctor agree on something.. who are you to decide such decision is irresponsible?

07-23-24  Merlino

Savo my info says security in daily life has greatly improved last few years in veni. A good reason I think maduro has a majority of voters

07-23-24  victor

carib, if a minor can decide to marry, why cannot he/she decide about sex change?

//

the difference is that you can have your marriage annulled.

but a sex change mutilates your body, and cannot go back...
the kind of decision that only an adult should make.

07-23-24  victor

carib, I think US elections are about america's role as superpower, not about sex changes.

//

true for investors. but most voters are not.

for them it's about issues.

"~10m illegals under biden. i dont want another 10m illegals under kamala. i'll vote gop."

"i am female, and want abortion rights guaranteed as before. i am upset at these conservative scotus judges. i want progressive scotus judges, thus i'll vote for the dems" etc

07-23-24  carib

PS: concerning minors, the first issue is if the best judges should be the parents or the politicians/bureaucrats.
Besides, if a minor can decide to marry, why cannot he/she decide about sex change?

07-23-24  carib

Various Palestinian factions including rivals Hamas and Fatah agreed to end their divisions and form a national unity government during negotiations in China that ended Tuesday, according to Chinese state media.


07-23-24  carib

Savo: Milei's mission is sort of impossible, but IMHO he should stick to the objective of dollarizing ASAP, via BOT surplus.

07-23-24  carib

Victor: I think US elections are about america's role as superpower, not about sex changes.
Personally, given the US constitution is silent on the matter, I would leave the matter to individual states.

07-23-24  Merlino

Savo, no, no, that is not Argentina reality imho
I would like to be wrong

07-23-24  pillz

Venezuelan oil bonds gain investor interest ahead of election

Mon Jul 22 17:05:25 2024 EDT

As Venezuela approaches its presidential election, a new trend is emerging in the market for the nation’s defaulted bonds: investing in the debt of state oil company Petroleos de Venezuela SA (PDVSA).
Bloomberg reveals that investment firms such as William Blair & Co., Gramercy Funds Management, and Spain’s Auriga Global Investors are increasingly purchasing PDVSA bonds, which have plummeted to approximately 11 cents on the dollar, significantly lower than the sovereign bonds.

These investors posit that PDVSA bonds will receive comparable treatment to sovereign bonds when Venezuela eventually restructures its $60bn in defaulted debt. The anticipation of such a restructuring has grown as the July 28 election approaches, with President Nicolas Maduro facing seasoned diplomat Edmundo Gonzalez.

“Bondholders are more optimistic that PDVSA would not be essentially left out of the fold, which is beneficial to PDVSA bonds closing the gap with the sovereign,” noted Arif Joshi of Lazard Asset Management. Bloomberg data indicates Lazard held both PDVSA and sovereign bonds earlier this year.

Robert Koenigsberger, chief investment officer at Gramercy, sees a potential shift in the political landscape post-election. "The new administration will seek to regain access to capital markets," he said. "Countries with a strong credit culture typically avoid defaulting on their bondholders."

The path to restructuring is still fraught with challenges, particularly the need for US sanctions to be lifted. However, optimism for PDVSA bonds surged in April when JPMorgan Chase & Co. included them in its widely followed emerging-market indexes.

Since then, the price spread between PDVSA and government debt has narrowed to levels not seen since November, following the US easing restrictions on secondary market trading of the debt. PDVSA bonds maturing in 2024 are now trading at around 13 cents on the dollar, an increase of 2 cents over the past three months. Meanwhile, government bonds with similar maturities remain steady at approximately 18 cents.

Despite the likelihood that PDVSA bond prices will not fully converge with those of sovereign bonds—owing to their higher index weighting and accumulated past-due interest—fund managers see the potential for further narrowing of the gap, offering a quick return on investment.

SID(FNWbd651c69121231b1dd7a)

dvpcoz gcat gpir gpol gvote gvote1 i1 i814 i831 i83101 i83108 ibnk ifinal ifosfl iinv iioil ioilgas lamz samz ven

Provided by INTERCONTINENTAL EXCHANGE INC

07-23-24  savo

carib.. argentinos... riddle wrapped in a mystery...

i celebrate however the end money printing, the i-legalization of woke, the falling inflation without default or confiscation, the 12bn trade surplus in the first half, and the fiscal surplus in the first half.

He is facing gigantic opposition from the "econochantas" that serve the cast who profits on inflation, corruption and the misery of the Argentine people.

I think dollarization will come... eventually.




07-23-24  victor

carib, are you ok with minors having a sex change? dems are.

from the national catholic register:

//

July 10, 2024

Biden Administration Shifts Again, Appears to Back Sex-Change Surgeries for Minors

New statement is a departure from a comment made by a spokesperson for the White House just last week, which said that sex-change surgeries ‘should be limited to adults.’

President Joe Biden’s administration has shifted its position on sex-change surgeries for minors for the second time this month, now appearing to support surgical gender transitions for people under the age of 18.

https://www.ncregister.com/cna/biden-administration-shifts-again-appears-to-back-sex-change-surgeries-for-minors

07-23-24  spal

who claims to mare America Great Again.. by making the USA abandon its role of global leader, and making everyone poorer by protectionism.


=====

You are taking the extreme cases.

Consider accelerated immigration into the US. The democrats have allowed this and it is largely following a blueprint of the United Nations (the promotion of "human rights" etc. etc).

In the US many of the recent c. 15 million that have crossed the border in the past 2 years (mostly illegally) have high school or less educational levels.

They will absorb more (of the relatively exorbitant and generous assistance) then they will ever put back into the system. This means that the services at local and state levels that "native" Americas get are diluted ... diluting (lowering living standards).

Besides this the US precariat is hit by the immigrants narrowing their employment options. The argument is that immigrants take jobs Americans won't ... but surely the question about discouraged workers and low labor market participation need to be addressed much more directly.

Writ large of course full globalization of labor can have plenty of negative effects. Rapid concentration of wealth is clearly an outcome.

The issues are here ... in shades of grey.

Too bad the media and most discussion focusses either on the worse excesses of wokeness or vilifying Trump ... there is a discussion to be had in the center somewhere ...


07-23-24  victor

carib, one of the problems with present-day Dems is that they represent the Woke culture.

07-23-24  carib

Likewise for Trump, who claims to mare America Great Again.. by making the USA abandon its role of global leader, and making everyone poorer by protectionism.
Historically, protectionism increases inflation and decreases wealth.
Go figure.

07-23-24  carib

Not being a shrink, I have difficulties understanding argentinos.
I thought Milei was elected with a plan to dollarize, which I found good, provided he had 30 billion dollars available (which Argy did not have) buying back pesos as cheaply as possible, at the rate the market would set. Now I see he plans to make the peso a strong currency, which sounds like the opposite.
Better avoid attempts to understand, I guess.

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