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Hartley Henry - DLP Political Strategist
Hartley Henry – DLP Political Strategist

Barbadians are truly ‘something else’. The hundreds of calls, texts and mails I have received over the past four days suggest that I need not say very much in response to certain allegations, because people already know about ‘the connection’.

I thought I had stumbled upon a dark, grey secret with respect to why a certain person enjoys seemingly unfettered access to a particular publication, week in and week out. But every mode and means of communication has been used in recent days to convey to me graphic details of ‘the connection’. What I thought was a piece of ‘hot, juicy news’ turned out to be ‘a particle of rich history’; for Sam Cuch, the Duppy and their in-laws know all about ‘the connection’.

‘The connection’ apparently did not start yesterday, last month or even last year. ‘The connection’ has been ongoing for years now and apparently has been a rocky road for one, characterized, as has now become the norm with cohorts of the aggressor, by an enormous amount of abuse. I am hearing now of blows to the face, blows to the head, blows about the body and even attempts at slitting the wrist. I am also told of the entry of a company head honcho into the “ling”, and the moving out and moving in with the said heavy roller. This heavy roller must be packing a mean punch, kick and especially lick to have two bosses in so pitiful a state, lying prostrate at every beck and call.

That an institution, so once revered and respected, would permit itself to be used and manipulated in so vulgar a fashion is amazing. The foreign owners really need to come to Bim and investigate the moral cesspool that has developed within those walls. It is no longer what it once was. It no longer serves the purpose for which it was created.

Not everyone on the inside is willing to look the other way. The fact that I know of the telephone conversation that preceded the now well publicized call, indicates that not everyone is in agreement with that which is going on. There is gratitude to this writer for bringing certain truths to light.

There is nothing personal about this intervention. But I detest hypocrisy and self righteousness. I am absolutely amazed by the sordid details of incidents and occurrences taking place under that roof, involving the higher of higher ups who are supposed to be setting examples. “Run the desk for me. Tonight is my night, tomorrow is yours”…and up to the nest they go. The whole thing makes Sodom and Gomorrah look like students of theology. In return, the heavy roller gets prominence on demand.

There was no threat to anyone! There was an appeal for fairness and professionalism. There was the assurance that if such was absent on this particular occasion, the world would be sensitized to a chronology of events that point to the aforementioned connection being the source and the cause of unprofessionalism. The exact words were “the whole of Barbados will come to understand how it is that”, a particular individual “can have unfettered access to” a known publication. Little did one know that the entire world, it would appear, was already appraised of the sordid details of the three way connection that has brought a most noble profession to shame.

Those shedding crocodile tears must rewind and reflect on conversations conducted prior to the much publicized call being received. Whom did you speak to after receiving highlights of the survey? What advice was given relative the appropriate response? What assurances were made as to what will not appear where? There is a difference between being threatened and feeling threatened!

If you wish to know about threats and about being threatened cast your mind back, to not so long ago, when other persons were perched on Bay Street. Who could forget the fate of Jerry Richards, Don Norville, Winston Worrel, Carl Ince, Cecil Foster, Adrian Sisnett, Don Singh, Mohammad Saied, Julian Rogers, Muriel Sealy, Ricky Singh, Hugh Foster, Peter Greene, Terry Ally, Reudon Eversley, Rosemary Alleyne and Keith Goddard, to mention but a few. What was the cause of Oliver Jackman resigning from the Elder Statesmen Advisory Group? Which politician was overheard saying that a former big up in the pine ‘would never get a job in the local media again’?

This writer is not a madman. It takes a lot to get him upset.  But several months of examples of systemic unprofessionalism would have had to come to a head at some stage. One does not know whether the publication has wittingly or innocently permitted itself to be used, but the records are there and can be examined by anyone in search of truth.

You cannot be biased and at the same time plead innocence and objectivity. What is good for the goose must be equally good for the gander. You are independent and middle of the road or you are leaning to one side at the expense of the other. If you are biased and have an agenda, it is your right so to be, but do not expect to be treated in the same manner as when you were straight up and professional.

This writer is not intimidated by or afraid of threats and portrayal of being arrogant, vindictive or even anti the freedom of the media. Nothing could be further from the truth. I am a media man to the core. This has nothing to do with press freedom. This is all about ‘the connection’.

Let the world press bodies come in search of truth. I want them to investigate ‘the connection’. Would this and could this have happened anywhere else in the world? Let us go global with ‘the connection’. The National Enquirer would love the details. Call the police! Lay the charges! Let’s all go on the witness stand and be cross examined about character, integrity, professionalism and ‘the connection’. I dare you!!

Hartley Henry is a Regional Political Strategist. He can be reached at hartleyhenry@gmail.com

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717 responses to “No Threat To Press Freedom It’s All About ‘The Connection’”


  1. David,

    Unfortunately, ROK , as evident from his pronouncements above, knows little about the banking industry. Offshore banking, which he claims is producing huge profits for local commercial banks, is a specialized field of banking. Under the Banking Act of the laws of Barbados, local commercial banks cannot engage in offshore banking.

    Banks do make profits because they are generally astutely managed. The level of profitability depends on the size of its portfolios, deposit and loan and not on “huge profit margins” as you state. The profit margin is controlled by the Central Bank’s setting of a minimum deposit interest rate and market forces. It would be foolhardy of any commercial to deliberately slacken its qualifying criteria for loans to satisfy some perceived requirement to “help” businesses which are poor credit risks and in so doing jeopardize its profitability.

    I am satisfied that in general commercial banks do what they can within the dictates of prudence, to satisfy the financial requirements of their customers. But you can’t please everyone.


  2. @Inkwell
    You telling me that the banks have not set up themselves for offshore banking? Or even international banking?


  3. @BU Family…

    And further to my above…

    It is not just the Banks…

    Those who pre-pay for their cellular services pay *way* more for said service than those who pay after the fact (read “post-pay”).

    This seems incongruent to me. After all, for those to prepay, the carrier already has the money in hand. So why do those to pay after get a better deal?

    (Another example — those who pay early to BL&P pay less than those who simply pay on time. (This is pretty standard everywhere. “2%/10, Net 30”. (Read, we’ll give you a 2% discount if you pay in 10 business days, otherwise you have 30 days to pay.)))

    Hmmm….


  4. Christopher,

    I have not over -simplified the situation. I stated, “Fees for ancillary services play a major part in a Bank’s profitability.” It would take two days to go into all of those.

    I too have problems with some of the charges banks levy, so don’t crucify me. I don’t own the bank.


  5. @Inkwell
    “Unfortunately, ROK , as evident from his pronouncements above, knows little about the banking industry.”

    I never said I knew anything about the banking industry. What I did was proffer the idea that the banks must be making money otherwise since they did not seem to care about their customer needs. Therefore they did not need Bajan business.

    When we put this together with what AH said, it leaves one to wonder why the bank has not diversified its services and give greater access to small business; e.g. overdrafts with less strict qualifications, etc.


  6. The level of profitability depends on the size of its portfolios, deposit and loan and not on “huge profit margins” as you state. The profit margin is controlled by the Central Bank’s setting of a minimum deposit interest rate and market forces. It would be foolhardy of any commercial to deliberately slacken its qualifying criteria for loans to satisfy some perceived requirement to “help” businesses which are poor credit risks and in so doing jeopardize its profitability.

    @Inkwell

    Not sure we are following you on the above. If though the margins as you say is controlled by the size of the portfolios, who controls the return on assets?


  7. @Inkwell
    “I too have problems with some of the charges banks levy, so don’t crucify me. I don’t own the bank.”

    I don’t think that is an apt description. They are more like penalties and once inflicted the bank proceeds to break and enter people’s accounts and take their money. It’s a money grabbing thing.

    I always argue that the bank should bill for their services and give consumers time to pay like any other business. This thing about grabbing the money and causing cash flow problems which in turn incur further penalties is highway robbery.


  8. @Inkwell: “I too have problems with some of the charges banks levy, so don’t crucify me.

    I’m not crucifying you.

    I’m asking questions, and making observations. I’ve found it sometimes useful to do so…

    @Inkwell: “It would take two days to go into all of those.

    I’ve got nothing else to do…

    Let’s go!

    Seriously….


  9. ROK,

    I repeat…Under the Banking Act of the laws of Barbados, local commercial banks cannot engage in offshore banking.


  10. @BU Family…

    Just for the record, I don’t fight for ROK. ROK doesn’t fight for me. We sometimes find ourselves beside each other, fighting in the same general direction; but even then we usually disagree…

    @Inkwell: “Under the Banking Act of the laws of Barbados, local commercial banks cannot engage in offshore banking.

    But can a local Barbados Bank not be owned by a parent which *can* engage in offshore banking? (Assuming Chinese Walls, of course…)


  11. David

    There is much truth to what Inkwell writes with regard to Banks, however your hope that Banks adjust their risk position because of “excessive” profits will not bear fruit.

    There are no locally owned commercial banks in Barbados, excepting BNB which is headquartered in Trinidad, all the other major banks Scotia; FCIB and RBC have their Head Offices in Toronto. Every year these banks set aside millions of dollars to cover loan losses for what were originally considered “good” loans, the Head Offices would not countenance the addition of loans of dubious quality to their books when they are trying to get these numbers down.

    Plus their CEOs are blessed with enormous egos and they want their legacy to show that they left their Banks in a better position than their predecessors.


  12. Yes, it can, but the offshore bank cannot engage in local commercial banking.


  13. @Sargeant

    Don’t miss our point. Let is suppose that bank profits start to fall in the next 2-3 years for whatever reason our point is that the banks would be forced to design new products to target non traditional clients with probably lesser risk considerations. Maybe those small businesses who currently are chased out of the bank would now be welcomed.


  14. CH

    Before you (or anyone) present the counter to my above that ATMs et al infrastructure costs money, let me please pre-counter that was the whole point of ATMs et al not to lessen the need of the Banks to employ so many Humans as tellers, and thus to save the Banks money?)
    *************************************

    The Banks would argue that it was a win/win situation- a win for the customer to access his/her funds at their convenience and a win for them by not employing people to process mundane transactions. They would also argue that you can pay a flat monthly fee which covers all those miscellaneous transactions rather than being nickeled and dimed to death with all the “transaction fees”. Think the price of gas will decrease if the Service stations become self service?


  15. David,

    If though the margins as you say is controlled by the size of the portfolios, who controls the return on assets?

    ****************

    Its not the margin that is controlled by the size of the portfolios, but the dollar amount of the profit. 4% of $100,000,000 is larger than 4% of 60,000,000

    Nothing “controls” the return on assets. The return on assets is simply a ratio of the quantum of assets, (dollar value) to the profit generated,


  16. @David…

    The Banks are doing *very* well, using tricks most of us would never even imagine… Thank you (and most) very much…

    And they will most likely continue to do so….


  17. @Sargeant: “They would also argue that you can pay a flat monthly fee which covers all those miscellaneous transactions rather than being nickeled and dimed to death with all the “transaction fees”.

    So, if I copy your above correctly, we the Consumers of Banks have the “right” to pay a “monthly fee” to access their own money. Do I understand you correctly?

    What would that fee be? Exactly? How much would it cost us here in Barbados? (On a per-Bank basis would be appreciated, for our consideration.)

    And, following from your above, why don’t we all, this next Monday, simply withdrawal all of our money from the various Banks here in Barbados, store it under our mattresses, and begone with all you parasites?

    Seriously….


  18. David

    Maybe those small businesses who currently are chased out of the bank would now be welcomed.
    ************************************
    The above is masquerading as a fact when it probably is far from the truth. Inkwell explains it well enough, Banks like all businesses exist to make profits and they are not going to chase people out of their offices who can contribute to their profit. Personally I take all of these stories about small businesses being disadvantaged by Banks in 2009 with a grain of salt. Are these “small businesses” prepared to assume some of the risk? Or should the banks assume all the risk?

    To your point about bank profits decreasing, if the bank profits start to decrease it would be a signal that the economy on the whole is going south, so banks would likely tighten credit rather than design new products to lure customers.


  19. Support appreciated, Sargeant. Solid comments.


  20. Inkwell // September 5, 2009 at 8:33 PM

    ROK,

    I repeat…Under the Banking Act of the laws of Barbados, local commercial banks cannot engage in offshore banking.
    *****************************

    That may be so Mr. Inkwell, but how many of Barbados’ banks are local? I am not on the scene, but thought they were mostly subsidiaries of foreign establishments, governed by the laws of the ‘home’ country.

    You are obviously a banker, so correct me if I am wrong.


  21. CH

    If I misspoke about the “flat fee” for services then I stand corrected but I thought that banks in Barbados applied this fee. Don’t get me wrong I don’t necessarily agree with all fees especially when I was charged a dormant fee on a local account after it was not used for about two years.

    The Banks are everyone’s favourite punching bag, they are seen as these gargantuan, faceless entities which doesn’t care about us but only want to keep our money and charge us all these fees for accessing or retrieving it from them, but thousands of people achieve their dreams because of these same Banks.

    Parasites…. Man that is a strong word, there goes a man who doesn’t have a good relationship with his bank(er), but are you planning to invest in a security firm or a business specializing in burglar bars? Your suggestion to withdraw the money and store it under the bed is an ill wind that will blow someone some good.


  22. Pat,

    There are in fact no locally owned commercial banks in Barbados. However, the Act governs all commercial banks operating locally. Hope that clarifies.


  23. @Sargeant: “Your suggestion to withdraw the money and store it under the bed is an ill wind that will blow someone some good.

    That’s the point (and why I raised it)…

    The “Banking System” couldn’t sustain or handle such an action… (At least, since the “Gold Standard” went away.)

    Thus, it (the “Banking System”) is based on unsustainable (unscalable) lies….


  24. @Sargeant: “…are you planning to invest in a security firm or a business specializing in burglar bars?

    I ignore threats…

    I will until I die….


  25. @ROK, the comment was about the blog and not about an individual. If you want to equate yourself to the blog, then so be it. Something can have a general characteristic without every part having that characteristic.

    On the question ‘Are you saying that slavery was not based on the superiority of the white race as its core value?’ that contention is historically false. Many have written here and elsewhere about the existence of slavery. It is not a white/black exploitation activity. It has many white/white examples (Romans/Britons) and many black/black examples (white Moors/black Haratins). If you know your African history you will know of slavery between different tribes. If you don’t know that history, then time to start learning.
    ++++++++++++++
    I too have more than a few decades in banking, but need not be anyone’s resident expert on banking. You clearly do not understand the nature of banking. Plain. It is not a charity and it is not about taking pity on people whose businesses do not succeed. If you want a bank that is a social service then get the government to run it with (your) tax payers money to provide the subisidies that are needed and absorb whatever losses may arise. Those losses will have to be dealt with one day and in the meantime have to be seen as accumulated claims on current or future tax revenue.


  26. @Chris Halsall, one of the problems with banking is for it to be understood as a service. If you had all of your deposits at home in cash there would be no cost to having access to it, but you run a risk that it may be lostt (fire, theft, etc.) Part of what you pay a bank for is ‘safe keeping’ of your funds. There is also the fact that banking means using deposits to make loans (simplifying), and banks are not required to keep all deposits on hand as cash (reserve requirements mean only a fraction need be on hand at any time). So, to get access to deposits banks have to remobilize funds, some of that means liquidating assets that have been obtained with the deposits. So making cash available is not a costless operation. I do not want to be long on that but I hope the general point is clear.


  27. CH

    Do you interpret that as a threat? I thought that you were exploring a business opportunity with your advice for everyone to withdraw funds, hence my question about investing in security companies or firms specializing in burglar bars – because they will be making money. ( So the ill wind benefits them)


  28. @ROK, I wondered whether to address “Exactly what are you saying because the racism that exist today is a remnant of slavery too. Why don’t you tell your white friends to forget the past too?” Let me suggest that it is always better to stand on firm ice than skate on thin ice. If you do not know to whom you address remarks better not to dig a trench and assume. Am I supposed to be white? Am I supposed to have white friends? Had I stated either I would have had a little more tolerance. But without the statement from me can I just ignore the question for being irrelevant?

    Like with your stated ignorance of banking, better to not let ignorance or lack of facts get you into hotter water.


  29. @Rickey George: “Part of what you pay a bank for is ’safe keeping’ of your funds.

    ROTFL….


  30. @Sargeant: “Do you interpret that as a threat?

    Yes.

    I do.


  31. @Chris Halsall, I am not familiar with the acronym ROTFL. Please clarify.


  32. CH

    All I can say is that paranoia reigns supreme when you think that your innocuous statements about Banks would cause someone to threaten you. Get a grip on reality


  33. @Sargeant…

    Consider it a thought experiment…

    And an insurance policy…

    At least one of those are provided by many Banks. Right?

    (Smile….)


  34. @Sarge
    “Personally I take all of these stories about small businesses being disadvantaged by Banks in 2009 with a grain of salt.”

    Even if you take that position, one thing you can’t deny is that a new business takes time; years to really make a profit and that without support it will fall through.

    Would it be hard to imagine that without the support of the banks helping with cash flow (because cheques are their instruments) a micro or small business will go under? It is not so much the incompetence of the businessman as it is the penalties that kill small businesses.

    let’s take an example in two scenarios.

    1. I operate strictly by cash. I write no cheques and I accept none. My turnover of cash for the week is $5000.00. Remember I am a growing business. I am able to take my $5000 and purchase stock or raw materials so that my shelves or stores are refilled for the next week.

    2. I do $5000 in sales which includes cheques. I make my deposit and then proceed to write cheques for my orders. However, the cheques I have deposited will be withheld until cleared and the bank stipulates 5 working days effectively. If I write cheques to the amount of $5000, and they all reach the bank on Monday morning at the same time or within that 24 hr period, my account will not register $5000 and the banks will send back all the cheques because they say that they will not choose which cheques to cash or which to return so they return all and charge you $30.00 for each returned cheque.

    In scenario 2 it is clear that I can’t get my $5000 in stock which my business needs so urgently. As a matter of fact, I will not have access to $5000 before Thursday so because of cash flow problems, my sales may be $2500 and I have to turn back customers during the course of that week. If I have employees, I have to find the money to pay them without the benefit of making the sales that I could have. I therefore lose a week in sales at $5000 per week.

    Some businessmen would take the chance and write the cheques because they may decide to pay the penalties rather than lose a week’s sales. Now, if 5 cheques are returned, the bank takes out $150 and the the businesses that businessman wrote the cheques to, charges him $50 for each returned cheque. He is now $400 out which could be a week’s wage for an employee but certainly, having to pay penalties, his profits are eroded… and rather than have that money to pay staff the bank takes it and all this is based on their instruments (cheques) which are meant to facilitate their customers.

    It could therefore end up that the businessman pays the bank $400 in penalties every week, thereby retarding the business and eventually running it to the ground.

    This is an example where no fraud is intended but the businessman is adversely affected by the banking system which set up hurdles to trap businessmen doing legitimate business.


  35. @Anonymous

    If I take you for a white man or having white friends it may be because you come on her anonymously speaking like a white man, so when you get on your high and declare that you are not white, I still have no proof to the contrary. If that upsets you then declare who you are, otherwise take what you get. Simple.


  36. Rickey George wrote on September 5, 2009 at 11:08 PM…”@Chris Halsall, I am not familiar with the acronym ROTFL. Please clarify.”

    ROTFL=Rolling On The Floor Laughing.

    ROTFLMAO=Rolling On The Floor Laughing My As Off.


  37. @Rickey George

    “one of the problems with banking is for it to be understood as a service. ”

    What was it before it was a service if it is to be now understood as a service? Why should this change be accepted now?

    Let me give you my take on banking. It is a system of numbers and paper transactions; both paper money and recording numbers in a ledger. If I go to the bank for a loan, the bank don’t even have to have the cash money. It issues me a cheque for the amount. I deposit it on my account in the same bank and I am already paying interest and the money has not yet left the bank.

    I have a cheque book and I write cheques which you again honour by notation when they arrive at your bank, and then your bank settles all its cheques with the other banks and each simply pay the difference if there is a difference.

    The money that you cash comes back to you anyhow. I withdraw cash, that cash is spent in a store which then deposits the same money in the banking system, so you simply have a set of cash that rotates. As it rotates you simply add interest and fees as a book entry. When you pay your employees, you don’t have to have a cent, you write cheques and give them which they deposit in the said bank and you honour the cheques as above; a paper entry or rotating cash.

    To my mind, banks could never lose because you lend out the same money about ten times in a single cycle; the same money. It’s like, you lend me, then I deposit, then you take it again and then lend it and the lender deposit; then over and over again; the same money.


  38. ROK

    • Would it be hard to imagine that without the support of the banks helping with cash flow (because cheques are their instruments) a micro or small business will go under? It is not so much the incompetence of the businessman as it is the penalties that kill small businesses.

    **************************************
    First of all when one opens an account the bank rep should ensure that the customer has a good understanding of how the account should be operated. If the Bank’s policy is to hold funds on cheques deposited until the funds are cleared then the customer should be aware of this stipulation and operate his business accordingly. The businessman is free to implement a policy of “ no cheques” from clients since he will be advancing goods or services without the certainty that the cheque proffered in payment will be honoured by his client’s Bank. Please note that there was a recent story in the news about the millions of dollars owed to businesses because of “bounced cheques”. If you were running a Bank would you take the chance of providing instant access to funds deposited via cheques when there is the possibility that the cheques will be returned unpaid? If the cheques are returned unpaid and the account does not have enough money to cover them the bank will have an unsecured liability with an overdrawn account.

    The bottom line is if the Bank is holding funds on your account because the cheques deposited haven’t cleared then you shouldn’t write cheques on that account until the cheques have cleared.

    Most Supermarkets in Barbados have debit machines yet I see people writing cheques for goods purchased, If you have the funds why write a cheque, why not use your debit card? Writing cheques under these circumstances is a recipe for trouble.


  39. @ROK

    Don’t be discourage there is enough feedback around to suggest the financial sector in Barbados can do alot more for small businesses (SMEs) and often this sector is left to run to government agencies for support. In the press this week there was an article which highlighted that SMEs make up 60% of the companies in Barbados. It is a large enough sector i.e.contributing to GDP where there should be a very visible strategy by financial houses as it pertains to SMEs. James Husbands has a proven track record who has had to struggle despite manufacturing a top of the line product. Based on the article Adrian posted it is something Barbadian consumers need to start to press i.e. an increasing focus on small business . This week on the callin a former banker Tony Marshall was pushing that fact reverse mortgages are not available yet we have a very active BARP association perhaps the most vibrant and well managed in Barbados.

    Our earlier point stands, reduced profits by banks can be caused by other factors other than a recession, when it happens mark our words you will see the banks show a greater appetite for the sector because there is much promise in the sector. Scientific data clearly shows that SMEs is the staple sector of most economies. At the moment banks are focused on signing up car loans and mortgages and as Inkwell confirmed growing fat from the spread.

    The BU family appreciates the feedback about how banking works theoretically but we don’t get the impression this was the point ROK was making, it goes beyond what is status quo.


  40. David you cant tell ricky george and crew to kar deh asses? He criticise threaten legal action for BU and now can’t keep off an always got negatives chuspe


  41. @Sarge

    I really can’t keep up with your unrealistic approach. In a system where money is spent in all kinds of ways; from credit cards to cheques, you really expect that not taking cheques is an option?

    If you do that you will stay microscopic because you will only get the loose change in people’s pockets.


  42. Rok

    Why are you not sleeping my good man.

    I think we need to send Bonny over at you ,like Peter Ram says:You need a woman by your side.LOL.


  43. I am not asleep because I am working. Don’t worry to send Bonny, when she get the divorce or the widowship, I will have to be contented then. Give me some space before she comes for me cause I could see that after that my life will be in the clouds. LOL! Bonny! I not sure which side she going to be on. Hope it ain’t my backside.


  44. @Sargeant
    “First of all when one opens an account the bank rep should ensure that the customer has a good understanding of how the account should be operated.”

    None of that happens. If you are not smart enough to ask the right questions you leave there with a mere impression of how it works.

    Furthermore, banks don’t give you a rate for if you bounce a cheque or if you run into an overdraft situation they arbitrarily set it and then snatch it from your account. You find out if it happens to you.


  45. In 2006 on another forum, someone asked the following…….

    Does anyone here have an idea of how the loan portfolio of the local banks is distributed across different asset classes?

    I am particularly interested in knowing what proportion of bank lending goes towards wealth-generating assets like businesses, farms, commercial projects etc vs the proportion of lending that goes towards non-productive assets like residential real-estate, government bonds, motor vehicles etc.

    ————————————————

    THE FOLLOWING RESPONSE WAS POSTED.

    ———————————————–

    I am sure that this info is available online on the Central Bank of Barbados website: Central Bank of Barbados Website. I have not had the time to scan but have a look. In the meantime I collected this data for you to have a look. We would appreciate if you share any conclusions from your anaysis of the data.

    QUOTE
    As at Dec 31, Dec 2004 this is Consumer debt by category in BDS$-000:

    Private Cars – 65,538
    Taxis/Rented Cars – 806
    Commercial Vehicles – 3,111
    Motor Cycles – 203
    Furnishing
    & Domestic Applicances-2,947
    Travel-5,650
    Home Improvement
    & Real Estate-109,619
    Consolidation
    Of Debt-34,552
    Misc-168,402
    Total-390,808

    As at Dec 31, Dec 2004 Credit by Sectoral Distribution in BDS$-000:

    Public Utilities-8,501
    Construction-264,694
    Government-23
    Statutory
    Bodies-281,209
    Financial
    Institutuions-112,055
    Professional &
    Other Services-198,478
    Personal-1,456,602
    Misc-142,307
    Total-3,346,094

    As at Dec 31, Dec 2004 Credit to Agriculture in BDS$-000:

    Sugarcane-10,278
    Livestock-17231
    Foodcrops-861
    Other-5,551
    Total-32,338

    As at Dec 31, Dec 2004 Credit to Manufacturing in BDS$-000:

    Sugar & Molasses-494
    Food & Non-Alcoholic-7,257
    Alcoholic Beverages
    And Tobacco-13,428
    Building Material
    & Metal prod-30,943
    Electrical Products-1,702
    Furniture&Wood
    Products-6,660
    Textile-3,817
    Petro-Chemicals-2,465
    Other-31,854
    Total-98,620

    As at Dec 31, Dec 2004 Mortgages in BDS$-000:

    Private Dwellings-530,042
    Industrial
    &Commercial-68,235
    Agriculture-12
    Other-68,020
    Total-666,309
    Loans to Residents-661,526
    Loans to Non-Residents-4,783


  46. @ROK, you wrote ‘You guys think that I born yesterday. You set up a financial institution with rules set up to keep out a particular race from inception. You do it by saying that those who have money can get loans and those who don’t can’t get. So who had the money and who didn’t have the money?’ This is a very odd observation. What about banks in places where there is not a colour issue? The first point surely falls? Banking is not about colour and race but about making loans and taking deposits; some lines will get drawn but only on racial lines if some other explicit rules are in place. Try the logic. It wont take long.


  47. @ROK

    I made the comment that went as Anonymous. When you wrote, ‘@Anonymous

    If I take you for a white man or having white friends it may be because you come on her anonymously speaking like a white man, so when you get on your high and declare that you are not white, I still have no proof to the contrary. If that upsets you then declare who you are, otherwise take what you get. Simple.’ what did you mean by ‘speaking like a white man’? Is that something that is clear from the number of words or syntax? Those black men who have some education go through a colour transfer process, seems to be a presumption of your point. Now, those who have mastered the mother tongue may feel really insulted that you tell them that this is ‘speaking like a white man’.

    I have seen it so many times with your posts. The black man for you must be the dumbest, the most incoherent, the most incapable of understanding. Those who have an ounce of intelligence must be white. My dear fellow, that is so sad as to make me have to spend all of today in prayer hoping that a light can shine into your eyes and say “ROK, the world is not like that.”
    ++++++++
    As for your notion of banking and all being rosy as money spins around. If everything in the world were perfect there would be no problems. Just introduce one delinquent or so into your scenario and see where it goes. You also seem to think that all cash taken out just goes back into the bank, which is of course not true. Many banking systems run into problems when people hoard cash, for reasons that make sense to them (time, ready availability of means to pay, other concerns). But a cash only society soon becomes very inefficient. You can get around that hoarding by having non-cash payment systems. But if hoarding goes on the banking system can grind to a halt as can some parts of the country’s economy.
    ++++++
    Banking has always been a set of services and for that a fee is always likely for rendering services. Simple case if it may help is to think who would hold you money safely for you for an indefinite period and not expect to get a ‘reward’ for doing it? Who would lend you money and not expect a little something back for the loan? Islamic banking bans the payment of interest, but they too have fee structures.


  48. @David: I hope that spiritual and religious rhythms that means some rise earlier than others will not lead to complaints about a string of posts. But a reasonable time is between each.
    +++++
    @ROK: You wrote ‘I am not a racist. None of my core beliefs are based on black as superior. I have not advocated that whites are treated as less than human.’ You truly misunderstand.

    Your racism (in reverse, if you like) is there. You see attributes that appear ‘superior’ (or certainly very different and for you ‘undesirable’) as being part of ‘white’. So, it’s not hard to see that you put ‘black’ with inferior–or more generally other–attributes (many of which you see as ‘better’ or just ‘good’), that are based on colour. If some want to be generous they could say that you are showing clear racial discrimination. But however, you slice it, dice it, and try to make nice it, THAT IS RACIST.

    I’m not sure if you treat your head this way, with a white beard and a black face, but I would not be surprised. I hope you do not wash your chin before your head in the mornings.

    That’s me done for the day. My God is calling.


  49. ROK, “Furthermore, banks don’t give you a rate for if you bounce a cheque or if you run into an overdraft situation they arbitrarily set it and then snatch it from your account. You find out if it happens to you.” They do. It may not be in big print, but they have scales of charges. The central bank may need to get them to make them more visible and for a customer to sign a form showing that they have been seen and read, and understood.


  50. @Sargeant

    “Most Supermarkets in Barbados have debit machines yet I see people writing cheques for goods purchased, If you have the funds why write a cheque, why not use your debit card? Writing cheques under these circumstances is a recipe for trouble.”

    You know that the banks do not give debit cards to business accounts? At least, I don’t know if it happens now.

    The next thing is that writing cheques is an option and simply because the debit card is there don’t mean that everybody trust its use.

    The problem with gas stations is that there is not sufficient care with cheques. At least you should have a record of customers who pay by cheques.

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