The National Insurance Board keeps pumping money into the Apes Hill development project. So far the NIS has invested BDS$25.4 MILLION DOLLARS in what can fairly be described as a highly speculative development project. The NIS Directors led by Chairman of the Board Dr. Justin Robinson (who coincidentally sits on the controversial Central Bank Board) must be aware that by continuing to pump public funds into a struggling and speculative private real estate project could compromise our important social security fund. It is well documented the NIS and the Central Bank have been soaking up government domestic debt as a means to fund a struggling economy.
How easy it is to be a ‘Developer’ like the Sir Cows and Maloneys in Barbados especially when you can keep withdrawing from the the NIS ATM.
Read full Document – Request for funding from Apes Hill Development for additional funding
292 responses to “NIS Dumps 21 Million Dollars in Apes Hill Development”
What the hell…..given these shady parasites, Cow, Bizzy, Bjerkham’s reputations in UK, US, Canada since the 4 seasons scam that ripped off Simon Cowell and others and is known worldwide, I doubt very much Cow will be selling villas to anyone anytime soon, not in his lifetime, all of them involved in that scam would have been blacklisted years now….investors only have to lose money once and word spreads across the globe like wildfire….and of course it’s all still being litigated….despite they dissolving the company name in the UK.
Soooo….why are the idiots in parliament and this Robinson dude picking up poor black people’s money, pensioners money and give to this racist Cow Williams, dont he and the ministers think this is npt only insulting but disenfranches black bajans…..dont any of them have any self respect, for all those millions of pension dollars they have given away to Cow…have there been any returns to the NIS, has he repaid any, with interest.
The current situation is as bad as slavery 200 years ago. The masses work all day long and pay with their blood for the massa´s villa.
Bu finds this section of the document very interesting, a pari pass arrangement? Seriously?
That document is a bunch of rubbish…there is no need for Cow to be dipping his hands in NIS, treasury or any money belonging to taxpayers or pensioners….he can deal directly with Republic or any other local or fpreign bank using the same collateral fpr the loan…..
…..these stupid government ministers need to stop enabling and condoning the blatant misuse of tax dollars and the pension fund…….. idiots.
What the hell…!!!
I don’t believe what I am reading. Government refused to get poor people’s money from CLICO and now they are trifling with the people’s money. Why couldn’t COW and company used their money or used the banks by the way, the banks here are not willing to lend blacks money for their businesses they are only interested in lending money for houses when they can come and repossess them. After 50 years of independence this is what is happening. White folks in this country are laughing as us black folks. These are the people that want to be elected again? What about those who will be getting their government pension. Will there be money in the NIS fund. This government cannot get the roads fix, cannot fix the ZR stand where poor people have to go and can pump money into something for the benefit of white folks. The members of this party maybe bright but they are not shining. We have a black government in power and that is all. It really seems that the other minority ethnic group is really calling the shots. May God really help us all.
Cow has not been selling villas for some time, he even had the nerve to blame the length of time it took them to give him the free NIS money as the reasons the villas are not selling, he wont tell them that it is because of the 4 seasons scam that less foreign buyers would be willing and extremely wary of the minorities and parting with their money easily….and he knows the ministers are too dumb to figure it out on their own, they are too in awe, too dizzy giving away the people’s money.
Kick them out of parliament….let them go work for Cow in Apes Hill.
Bushman..ya being sold out by a black government. …ua pension is being given away to racist minorities by black government ministers and ya dont even know…..you thought I was joking all the time I kept talking about this….I dont make those types of jokes.
And let them take their yardfowls to Apes Hill and get them work with Cow….nuisances.
I recall COW getting vex and complaining about Barbados when he bought a big lotta land in Argentina in the last OSA regime.Where is this money he bought that land with.Why doesn’t he use it and all the hundreds of acres he owns in Barbados.These guys are leeches.With all their money they want everything free of duty and making threats to staff who want their piece of the pie.The polo lotto crowd.
Unreal. Nothing else to say except – bloody well unreal. Hold on,no, something else more – how about ridiculously completely out of order.
Cow and the gang are parasites, he could use the land in Argentina to get loans….the really big problem I have is the black government ministers from both political parties keep giving away the people’s money that does not belong to them or Cow, Bizzy, Bjerkham, Maloney or any of the other known parasites….and have for decades without fail….with no intention of stopping in the foreseeable future….unless the electorate removes both useless political parties from their parliament.
These black ministers continue to act as though the racist minorities are entitled to black people’s money…I have a real problem with that, something is very wrong with that picture.
White FFFFwelfare and people cant get from 5 bds an hour, Can anyone on BU say , has NIS ever seen a return on their Money? if so on what Project? What is the amount of money in this fund today ? What is the return on this money to be and for how long,
Vote these Bitches out, Mia and the BLP do the same mess,
Pat Sudat March 28, 2017 at 8:15 PM
It is said that a Statesman looks after the next generation, while the Politician looks after the next election. The likes of Bizzy,Cow and Bjerkman are the real Statesmen in Barbados. Even if no one is going to buy their condos and villas in their lifetime, they are looking after their very own next generation . Grand children who are still at the drawing board stage,and who eventually, are going to inherit those unoccupied condos and mansions, not to mention, these fields and hills beyond recall , all done by the magical sleigh of hands , of the people’s NIS money, dealt to them by our politicians, to ensure their own survival at the next general election.
@Anne
Don’t believe, really? Look at their villas, their many cars. Than you know why the do not invest private assets but the pension fund of the black masses.
Nearly all the NIS money is already sold out to projects like this and civil servants´s wages.
Wait … wasn´t it the same person who insulted the workers on the site as “lazy laggards” and is now eating up their pensions?
Are we sure that slavery ended in the 1830s?
The ‘Cement Man’ Astor Marshall of late memory did not hide his mouth when he referred to Cow’s company as a welfare company,dependent on government projects.One can add the switch now to demanding access to taxpayers pension money to fund housing for the rich and famous while denying the workers a proper wage for creating that astounding wealth.
These are the very same people who destroyed agriculture in Barbados by borrowing money from the BNB for their plantations, and then claiming major losses every damn year – and not repaying these loans…..while their children were schooled in Canada …and the yachts, horses, expensive cars, and other businesses accumulated …. as they reaped the sweets.
….Instead of dealing with these crooks, Arthur sold the damn bank.
COW is now pulling the same stunt …with Apes Hill….
This DLP government is in such a state, scrambling for money to fund (bribe) the upcoming elections, that they are rushing headlong into any and every possible thing that looks like a couple hundred thousand dollars can ‘fall off the back’….
How lowe is it possible for these vermin to go…?
Moving the Government headquarters is likely another money -laundering, election-funding scam….
Tron……It’s your black governments making sure you stay enslaved while racist minorities eat up your tax dollars and pensions and make sure their children attend the best schools and best universities on your money….they could not do all of that without the help of your wicked governments.
Colonel,……they look after their own generation…not yours and not the majority population’s generstion either…their own…Bjerkham should not be in the central bank, should not be touching black people’s money period, him nor Tempro….none of them.
It is a welfare for the minorities scenario at the expense of the black population.
Members of the BU household vaguely remembers the Southern Meats fiasco of years ago. Didn’t Sir COW leave taxpayers holding the big a little? Please remind us.
Time to put an end to this avaricious greed of the minorities freeloading off black people…Cow, Bizzy, et al have been doing it for at least 4 decades, living off the backs of black people like parasites….aided by fools for politicians.
Why does COW need the pension fund after he boasted last November “Apes Hill Club already paying off” (source: BB Today)?
Tron….keeping the majority population in poverty, keeps that evil bag of wrinkles in control…if I have your money and you have to come to me for 5 dollars a day….I own you completely, most bajans dont know the minorities live off their money….and pay them from their own money given them by dumb government ministers.
Who is influencing who? .. A WHITE Board needs no black chalk, that couldn’t do, in sinc the horse rode, EXIT.. the Chairleader NIBBLES square, cows get feed, in boating hills and FIELDS…skyscrapers too, balls have it, building sellable properties on rent land, SEE..the animals will never go hungry…Bajan George Soros, the strategic octopus of influence.
First things first, get rid pf Fruendel and his Fools, they just continued selling out black people without any remorse.
Two further observations, after I read the full document.
1) S&P would grade the project as C or even D since it already defaulted in the past. In other words, NIS replays the Credit Suisse scenario of 2013 on a smaller scale, at the very least.
2) Why does COW not pump some of his private assets into this project to fill the gap? 21 million BBD should be a small sum for him.
The most disturbing thing in all of this why the NIS board would agree to advance or approve money money for a client which had already defaulted technically……………restructured.
Cow lies a lot, he knows bajans love being lied to….he knows lies sustains them, blinds them, he then only has to swoop in and steal their money and they will never know….cause the ministers will never tell them….he knows that.
I never thought that proof would turn up this soon, I have known about this for quite some time and mention it from time to time….if this does not open the eyes of bajans to the nasty, treacherous nature of their politicians, minorities and government ministers. …nothing will.
These Hills & Fields March 28, 2017 at 10:43 PM #
When a white man says jump to our leaders in Barbados, their only question is, How high boss ?
Fifty years of independence, and we are still proud to be driving the plantation great house car.
Niggers and their money soon part , there is tobe 24 Billion in Barbados Banks and some of that might be COW and his friends that suck Barbados dry, first rule in dealing with niggers , once you get their money make sure it never returns, the whites are there to get your money in taxes or however and never to re- invest in the bull they fed you to start with,Only sell outs deal in DBLP fraud and laundering of VAT/Taxes and NIS
Those are not keaders Colonel…they are house negroes, only there to serve whom they preceive as white…any minority they think is better than them and their people would do,….I am still waiting to find out why Peter Harris abd CGI Insurance still has that transport biard contract despite the destruction of that entity with huge personal injury liability cases. ….
……the house negroes in parliament serves any minority….anyone but the people who elected them….they are a shame and disgrace to their own race.
https://www.barbadostoday.bb/2017/03/28/nowhere-to-go-2/
This is the reality on the island…David Durant rightfully lecturing children of this abandoned mother…but in so doing…, we have to ask, why is Cow Williams and the other parasitic minorities getting millions of taxpayers and old pensioners money, …from government, from ministers, every time without being scolded and lectured to like children, by the likes if David Durant, even when they default and do not pay back the money…..how can this be fair to elderly pensioners like this female.
Restructuring loans? … Apes Hill Club is Barbados in a nutshell. Just exchange “NIS” and “IMF”.
Hence, we, the taxpayers, want some austerity in Apes Hill Club as well. What about dismantling the A/C units and stopping water, so that the massas there feel like the people in St. Andrew?
The project will never generate enough revenue, given that our main sponsor Britain will sink after BREXIT very soon.
What I cannot find, is the security for the NIS? They make it clear this is not an ‘original loan extension’, but a new loan at higher interest rates. What security do they get to back their loan, both the initial and the new one?
Like almost every development in these small islands, it becomes true reality about 25 years after it was expected to.
addendum….if the NIS would publish annual reports they should contain facts pertinent to such “investment activities” of the NIS.
The security is mentioned on page 12 of the document.
Lord have mercy. The flames from the abyss are licking our toes!
I was once of the view that the NIS was just incompetently run. I now believe this is deliberate. The people of Barbados are being screwed by this incompetent mob – of both parties. But you get what you vote for.
Hal…do you now see why you cannot show any weakness to the house negros in parliament, they would not recognize manners or decorum in anyone black like themselves and once approached by minoriies, like Cpw, Bizzy, the couple Indians and Syrians on the island or foreign whites……would sell their very souls and their own people for a song, do you now see how brutally vicious and uncaring they are to their own people once they are elected to their slave house in parliament, they maliciously and deliberately seek out these minority parasites for help in disenfranchising their own people, they give away the people’s whole economic futures to minority parasites, welfare only for minorities, millions of dollars worth…just like that…and for decades, both political parties have been guilty of this atrocity, these crimes…….
……..I keep saying this is a curse residing deep within the house negros/politicians/government ministers/public servants.
http://www.nationnews.com/nationnews/news/95116/emergency-housing
Here is an example of 2 vicious house negros and how they view their own people, the Louis Lynch school has been shut down for years, environmental health problems that neither government wants to acknowledge, many teachers associated with the school got sick, many died from cancer, but these 2 disgusting scum lawyers, one a well known crook, thinks fire victims should be housed in that unhealthy, dilapidated environment, with their families, these 2 disgusting house negros Depieza and Michael Carrington….this is what bajans have been dealing with for 50 years, uncaring, gutless, shady house negros.
get serious..if the nib had not stepped in to help they govt would not have been able to give RIRI a free lot. Helping the underprivileged on the island is note worthy I only hope they were also able to accommodate some of the poor homeless politicians as well
Lawson……ah glad ya recognize the scam, it’s not brain surgery or rocket science, very simple in creation, but extremely evil in it’s execution, our job now is to create some poor, helpless politicians so that they can appreciate the millions of tax dollars and pension dollars the now wealthly, self- absorbed house slaves in parliament gave away to racists like Cow, Bizzy, Bjerkham and their front man Maloney, at the expense and without the knowledge of the majority population. ….who they were initially elected to serve when most of them started out as mediocre lawyers, shady businessmen, a struggling radio announcer and broke ass politicians, if anyone deserves to be taken down and returned to their mediocre private lives, it’s the current demons in cabinet….
……and hopefully they will all get caught up in some international money laundering invesigation, along with their masters the minorities, who they can then get jobs from for they and their dumb yardfowls….that would be karma working overtime.
Most of that land Cow and Bizzy boast about an which they pretend to give away….they stole…again with the help of the scum lawyers and scum house slaves in parliament….Rihanna has no clue whose stolen land they used to make themselves appear relevant and keep up the facade and scam that they own the sland while stealing from the treasury and pension fund.
We have made two points on this matter.
First, that these local poor boys like COW have no real money, never did
Cow cannot write a cheque for 100MM without reference to somebody else, that number should really be a billion.
If you can’t do that yuh poor.
So these Baccra boys that Barbados has been worshiping for decades as rich men, with the possible exception of Simpson, can only get their money, economic power, from control of the government of Barbados, as piggy bank.
There are f**king parasites.
Second, that throughout the world public assets are being transferred to privates hands.
All the lands have been given to COW with the help of government, especially by OSA and the chief town planner.
COW is only the first of many corporatists who have relied on NIS money, not to talk about the government itself.
Remember, the Four Seasons project
The end result will be the impairment of the NIS to keep its promises to workers, contributors.
There is a massive transfer of public assets going on.
And David, your own blue-eyed boy Justin, its Chairman, has not the courage to resign as an act of resistance.
Bushie
Why is government HQ moving?
@ Hal
I was once of the view that the NIS was just incompetently run. I now believe this is deliberate.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
You are getting there.
Not that is is hard to come to that conclusion when a Government can put a KNOWN failure, do-nothing, waste-of-time joker as chairman.
What is the status of the annual financial reports of the NIS?
Nothing can be more basic…
In the absence of these LEGALLY MANDATED reports, the chairman should be charge, and no such loan transactions should be permitted.
Remember the discussion about OSA and selling the national bank? Well, we do not need a formal national bank. We have the NIS, a shadow bank, borrowing millions and billions to COW and MoF.
Compare NIS and guidlines for Norway Pension Fund: Ref. https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway
Bushie
Why would you charge a man, the chairman, when the next chairman would do the same. What sense does that make?
@ Pacha
Why is government HQ moving?
++++++++++++++++++++++++++
No one knows for sure,
…but about twenty million dollars are involved in the move..
……and elections are imminent.
That should give a hint.
It was either CAHILL, HYATT, the Canadian Solar Crooks, …… or move shop ….it seems.
@ Pacha
THAT particular chairman should have been charged for no doing his damn job at CHILL ….far less being recruited to the Central Bank and NIS….
DAVID,
I well remember when the Apes Hill project was first foisted; 2001 or 2002, on this country; it was supposed to be a Billion dollar project, that I wrote a letter to the Nation, asking who was underwriting the project. those questions were never answered. I was particularly incensed at the extent of the proposal;especially since it was proposed to include part of BATH, AND INCLUDE THE BUILDING OF VILLAS ON THE EAST COAST. THE SIZE OF THE PROJECT TOLD ME THAT SOMEONE OTHER THAN COW HAD TO BE BROUGHT IN AS UNDERWRITERS. LITTLE DID I THINK IT WAS THE BARBADOS GOVERNMENT, THROUGH THE NIS.Which one was in power then? Forget, but I can be reminded.