Chris Sinckler Vs Delisle Worrell Court Appeal Document Available – Board of the Central Bank Expressed Concern About the Falling Foreign Reserves

Dismissed Central Bank Governor DeLisle Worrell

In the Court of Appeal No.8 of 2017 DeLisle Worrell (Appellant) versus the Minister of Finance ( Respondent) presided over by Justices Sandra Mason, Kaye Goodridge and Andrew Burgess on February 23 and March 3, 2017 the decision by Justice Randall Worrell to lift the temporary injunction was upheld. The ruling cleared the legal hurdle to have Worrell dismissed by Minister Chris Sinckler.

The reading of the 32 page judgement can be described as another reason among many why there is a growing lack of confidence by a majority of Barbadians and importantly investors in the government of Barbados. If the government appointed board of the Central Bank felt compelled to express concern about the falling foreign exchange reserves shouldn’t ordinary Barbadians?

The BU household eagerly awaits the pronouncement on the state of the economy by acting Governor Cleveston Haynes.

Read the full text of the Court DocumentCourt of Appeal No.8 of 2017 – DeLisle Weekes Versus Chris Sinckler

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58 Comments on “Chris Sinckler Vs Delisle Worrell Court Appeal Document Available – Board of the Central Bank Expressed Concern About the Falling Foreign Reserves”

  1. Tron April 1, 2017 at 8:59 AM #

    After the judgement another month passed. The reserves are now by far lower.

    Barbados will hit the ground in June/July without any miracle. We will see if the puppets in Parliament and Supreme Court will still perform the play “We are First World”.

    Like

  2. NorthernObserver April 1, 2017 at 9:13 AM #

    Hopefully the new GoCB will be a board member, and not the Chairman, such that any correspondence coming from “the Board” will be seen as such, and not potentially as coming from the GoCB. The GoCB should never be also the CB’s Board Chair.

    Like

  3. Gabriel April 1, 2017 at 9:22 AM #

    Abolish the Barbados Central Bank,join the OECS Central Bank and kill 2 birds with one stone.Remove the influence of the Cabinet in the monetary affairs of the country,thereby giving rise to the confidence level of would be investors,and secondly,achieve a de facto devaluation of the Barbados dollar thereby curbing the champagne taste-mauby pocket syndrome.Everytime I pass a certain restaurant I see big beamers,benzes and land rovers parked there.Millions of dollars leaving the country thanks to Kyffin economics.

    Like

  4. CUP Violet Beckles Plantation Deeds from 1926-2017 land tax bills and no Deeds,BLPand DLP Massive land Fruad and PONZ April 1, 2017 at 9:54 AM #

    Easy case, If they dont print money the judges can not be paid, They want to be paid,So they agree to keep printing more money. What was best for the judges is the best way to look at it as it always has been, The crooks judges dont care about the public only self.

    Like

  5. Bernard Codrington April 1, 2017 at 10:04 AM #

    A very tightly argued judgement. Certainly 1st World.

    Like

  6. Tron April 1, 2017 at 10:04 AM #

    The coming third agreement with IMF will not be the last. There will be a fourth and fifth, since the establishment of this island is mentally unfit for self-governance.

    Like

  7. Hal Austin April 1, 2017 at 10:14 AM #

    Gabriel,

    Abolish the Barbados central bank….yes….but create a Caricom central bank.

    Like

  8. Bernard Codrington April 1, 2017 at 10:15 AM #

    @ Tron @ 10:04 AM

    What can we do to become “mentally fit for self governance” ?

    Like

  9. Tron April 1, 2017 at 10:23 AM #

    Bernard,

    Do not look at Britain and all the other big countries with their adminisrative overhead. Look at the successful microstates like Liechtenstein, Singapore, small states like Luxembourg, Switzerland and Scandinavia and identifiy the keys for their success. – Also: Develop a culture in politics and public service, which serves the common good. Once I asked a senior member of the local establishment what the concept of the common good was in Barbados. He started to laugh.

    I know it is a long way. It is some kind of self-deception to believe that any money from IMF, World Bank or any external advise will remedy the situation in short term. It is most important for Barbadians to develop principles of good governance and business by themselves, since external concepts usually fail. This is not the single work for our generation, but the work for many.

    Like

  10. Enuff April 1, 2017 at 10:24 AM #

    Government ministers and MPs are always talking about others damaging Bdos’ reputation internationally, but nothing can be more dangerous than the perception of a questionable judiciary and processes. The GoCB, CoP, BNTCL and Hyatt all raise eyebrows. Now I am reading the following attrubuted to the CTP in today’s paper:

    “But the important thing is that the law allows for a plan in preparation to be used as part of the decision-making process. So, as we speak, we have started using the policies in this plan as we determine applications which have been submitted under the development control process; and that’s a very good thing, because what happens is that it allows for a very smooth transition from one plan to the amended plan.”
    But did it in determining Hyatt? Commissiong!

    Like

  11. David April 1, 2017 at 10:35 AM #

    The request from the other Board members to the Governor to send a communication to the MoF reads funny. Why would the Guv have to write to the minister if their concerns are already reflected in the board minutes and or daily weekly briefings.

    Was the Guv setup?

    Like

  12. David April 1, 2017 at 11:07 AM #

    @enuff

    Read itand concluded the same.

    They must take members of the public for fools.

    Like

  13. David April 1, 2017 at 11:08 AM #

    @Bernard

    Is there a hint of satisfaction in your comment? You were not a fan of the Guv?

    Like

  14. Bernard Codrington April 1, 2017 at 11:09 AM #

    @ David @10 :35 AM

    I question the need for the ” communication” also. But no need to worry. There are some puzzles the solution to which are superfluous.

    Like

  15. David April 1, 2017 at 11:15 AM #

    @Bernard

    You have graduated to the veritable BU philosopher these days.

    Bushie watch out!!!!

    Like

  16. Enuff April 1, 2017 at 11:21 AM #

    Caricom Central Bank–now we talking. Bushie? lol

    Like

  17. Bernard Codrington April 1, 2017 at 11:25 AM #

    @ David @ 11:08 AM

    You should know by now that I prefer to discuss issues rather than persons. An exception in this case, and for the record, I consider the ex Gov of CBB a friend. I do not rejoice in the” misfortunes” of my friends.

    Like

  18. Wily Coyote April 1, 2017 at 12:48 PM #

    Bernard Codrington April 1, 2017 at 10:15 AM #

    @ Tron @ 10:04 AM

    What can we do to become “mentally fit for self governance” ?

    Shoot thyself in the ASS, hopefully the bullet will find some Brain Matter, however unlikely.

    Like

  19. Vincent Haynes April 1, 2017 at 1:11 PM #

    Tron

    It is most important for Barbadians to develop principles of good governance and business by themselves, since external concepts usually fail. This is not the single work for our generation, but the work for many.
    …………………………………………………………………

    Well stated……and this is the crux of the matter at hand a visionless govt. drifting along on the ocean,susceptable to changes in the current and going where no one knows where.

    In consort with the point Bernard made about evolving over time.

    Like

  20. Bush Tea April 1, 2017 at 1:11 PM #

    @ Enuff
    Caricom Central Bank–now we talking. Bushie?
    ++++++++++++++++++++++++++++++++++++++
    Great idea!
    …also a CCJ, a Caribbean university, a Caribbean Bank, Airline …shiite, even a single Caribbean COUNTRY.

    ….But CSME and CARICOM!!?? …. still bare shiite…. 🙂

    @ David
    Bernard was ever a philosopher.
    His only real weakness is his predisposition to the universal albino-centric philosophy that places undeserved import on acquiring the materialistic things around us…

    But Boss, keep your eyes on Tron….. That man is shaping up to be the new BU Micro Mock Engineer yuh…
    Hear him….
    +++++++++++++++++++
    Develop a culture in politics and public service, which serves the common good.
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    YOU!!!!
    The man is referring to COMMUNITY-CENTRIC thinking (the opposite to the universally accepted albino-centric nonsense that has destroyed our world)…. soon he will be on about cooperatives, community ownership, and enfranchisement of the masses to move them towards thinking like OWNERS, rather than serfs…..

    Shiite man David, if you keep attracting this level of contributors,…. Bushie may retire the damn whacker and go and enjoy some of the albino-centric pleasures of life yuh…. Ha ha ha

    It is great to know that there are some people around who can see beyond the meaningless glitter…… Such persons are far too few and to reserved however to save us from the overwhelming flood of brass bowlery that passes for everyday thinking….

    Our ass is STILL grass…..

    …see what yuh can do for Bushie’s boy Vincie nuh !!!??
    Ain’t it bout time that he stepped up..?

    Like

  21. Vincent Haynes April 1, 2017 at 1:17 PM #

    Caricom central bank will eventualy come but the immediate do able action called for is joining the OECS as a full member and accepting a common currency as ours and their bank.

    Thought must be given however to the value of the common currency,whether to peg it to USD or not.

    Like

  22. Vincent Haynes April 1, 2017 at 1:21 PM #

    Bushie bushie

    Wha appen…..yuh juss wek up from a nightmer ena cole sweat an yuh hollerin muh nem……yuh memrin de wash pan a licks yuh git recently….go tek yuh siesta bozie.

    Like

  23. de pedantic Dribbler April 1, 2017 at 1:40 PM #

    @David April 1, at 10:35 AM re “The request from the other Board members to the Governor to send a communication to the MoF reads funny. Why would the Guv have to write to the minister if their concerns are already reflected in the board minutes and or daily weekly briefings. Was the Guv setup?”

    No set-up in the least. Just the normal ‘official’ paper trail.

    But note the rather strange response from the Guv. He didn’t want to send the missive …which is amazing. And then he sent it to the Minister’s PRIVATE email a/c. WTF…ah real, is that about.

    Regardless of whether he had given press briefings or spoken to the Minister often on the subject, a detailed official correspondence was still apropos a reasonable request/directive.

    What was the Guv concerned about!!!

    @Northern, at 9:13 AM re “Hopefully the new GoCB will be a board member, and not the Chairman…”

    Board room governance is a vexed issue but for all practical purposes why would you want to disassociate the role of Governor and Board Chair in this case!

    The person in that role should have full power to act. There are ample options to clip his/her wings when s/he steps over the proverbial off-side line.

    @Bernard, at 10:04 AM re “A very tightly argued judgement. Certainly 1st World.”

    Yes, I can agree the Appeal’s court judgement was a well presented decision. I was ‘amused’ however by the liberal sprinkling of that 1st World word ‘sic’ throughout the quotations of the Worrel J’s original decision.

    Anyone not knowing the use of that word could be excused for thinking his law clerk had a bad case of hiccups or something. LOLL.

    But, that folly and carelessness apart it’s clear that the Dean when he wrote here some weeks ago presaged this type ruling. I recall that he was rather forthright and yet respectful in dismissing the case offered by Dr. Worrell’s lead attorney. The three judge panel were just as dismissive.

    My sense of humor actually went to full blown ROTFLOL when I read the contention that “the outcome of this case could have significant and fiscal implications for this country”.

    The Guv and his conspiratorial minister had already long achieved that goal and now both sets of lawyers arguing that…after this ‘messy divorce’ How absolutely hilarious!

    Like

  24. Own Area April 1, 2017 at 1:42 PM #

    After the GoCB broke ranks with the MOF and let the genie out of the political bottle with his press conference the DLP political machinery when into survival overdrive. Dr. Justin Robinson and Bjorn Bjerkhamn were give the job to set-up the Guv so Sinckler could bring him down.

    Like

  25. David April 1, 2017 at 1:53 PM #

    @Dee Word

    Agree that the official communication would have done no harm to raise the sensitivity bar for the MoF BUT the MOF is on public record to say that he receives daily communications that paint the state of the foreign exchange position, in addition the governor’s economic report as stated in the judgement was sent to the MoF. All the foregoing should be factored if you considers the routine weekly briefings between the two. What the Board asked the Governor to do should not create any rift at the Board.

    What apropos what!?!

    Like

  26. Bernard Codrington April 1, 2017 at 4:31 PM #

    @ David @ 1 :53 PM

    Do not get distracted by the white noise (used in the engineering sense) I think most members of the BU household picked up the signal. Let it rest. What is important is where we go from here.

    Barbados was once a member of the East Caribbean Currency Authority, the precursor of the East Caribbean Central Bank. The CBB was established to give the GOB greater control of its financial and economic affairs. Do we really want to revert to that situation? I think too many of us are on a quest for a silver/ magic bullet. Unfortunately there is none. We will just have to work our way out of this one step by step. By asking ourselves what is it we really want. Some of us already know or think we know . Others are looking for others to tell us what we want. Yet others want to adopt other people’s solutions hoping it will fit our situation.
    In the final analysis we still have to agree on our national goals. The majority of Bajans want to have a reasonable high standard of life. It comes at a cost. There are no free lunches.

    Like

  27. David April 1, 2017 at 4:36 PM #

    @Bernard

    Understood!

    What is unraveling at the central bank is a symptom of weak governance structures and failing to hold players accountable. How the sheeple will be able to disrupt the cycle only Bushie’s BBE knows.

    Like

  28. Bernard Codrington April 1, 2017 at 4:53 PM #

    @ David @ 4: 36 PM

    Nothing is wrong with the governance structure at the CBB. Failing to hold persons accountable may be a fault. It depends on who is accountable to whom. And what one sees as one’s responsibilities.The governor’s role is advisory.

    Like

  29. David April 1, 2017 at 4:59 PM #

    @Bernard

    Do you agree with any Governor of the Central Bank of Barbados required to perform the role as Chairman?

    Like

  30. David April 1, 2017 at 5:21 PM #

    @Bernard

    The Barbados board structure seems consistent with others in the region however in England the Governor is Chair of a monetary committee. Maybe the time has come to tweak the structure to insulate whoever is Governor.

    On another note, why would your namesake- a financial controller for many years -be elevated to deputy governor? Shouldn’t that person possess a wider knowledge and training of fiscal and monetary matters?

    Like

  31. Tron April 1, 2017 at 6:06 PM #

    Bush Tea,

    I do not refer to the common good of economics, also not to Comrade Commissioner. Rather, I refer to a philosophical concept of the common good: The common good is the sum of the achievements of individudal citizens for society as a whole. A private business serves individual interests, but also the common good via employment and taxes. Their is no necessity to play liberalism against such a common good.

    Like

  32. Tron April 1, 2017 at 6:18 PM #

    … addendum …

    My concept of the common good appeals to the leaders. History has shown that the masses cannot be enfranchised by some common property etc. I propose to “activate” and enfranchise the masses via democracy, eg via plebiscite and imperative mandate on the political level and via co-management in corporations and reasonable unions on the economic level. Your approach might be different …

    Like

  33. fortyacresandamule April 1, 2017 at 6:57 PM #

    A Caricom monetary union is not a bad idea in theory, but I can’t see that becoming a reality anything in the future. Monetary unions in west and central africa have worked well for them in terms of stability and predictability.

    Like

  34. Bush Tea April 1, 2017 at 7:56 PM #

    @ Tron April 1, 2017 at 6:06 PM

    What led you to think that this differs from Bushie’s definition of the ‘common good’?
    It is not a bad definition at all – as definitions that seek to avoid reference to the interest and will of the original creator goes….. also, Bushie’s attitude to ‘economics’ is well documented…..and definitely dismissive.

    Economic enfranchisement is a RESULT, …a consequence of good performance, not a fundamental target in itself (that is greed)

    It is like ‘peace’, which is a RESULT of justice, openness and uprightness….never from trying to enforce it directly… especially viet armis.

    NOTHING that is self-centred, and of true value, is directly achievable. Such ‘success’ always results form directly benefitting OTHERS. A community-centric outlook is therefore one that SUPPORTS success and enfranchisement, while greed and selfishness is ALWAYS destructive.

    Put another way-
    …. Do for others what you desire for yourself
    …..seek ye FIRST the kingdom of BBE, and all the pleasures of your desire will be added
    …..cast your bread onto the waters, it shall return multiplied.

    Like

  35. Tron April 1, 2017 at 8:00 PM #

    All hail to Kantian imperative!

    Like

  36. nineofnine April 1, 2017 at 9:01 PM #

    …”Abolish the Barbados central bank….yes….but create a Caricom central bank”….

    Abolish the Central Bank of Barbados…NO,
    Reasons being, to remain the regulatory body of the local banking sector, International transactions of the diaspora and facilitator of government economic business.
    What is necessary is being in COMPLETE CONTROL of its ownership, mandate and policies, and independent of Government control and foreign influence in decision making and appointments.

    Create a Caricom Central Bank.. YES
    The Caricom community needs to get serious and work towards this goal, tying all Central Banks in the community that reforms their banks to like status of ownership, mandate and policies… by contributions become the major lending facility for development.

    If Central Banks are control by foreign entities, manipulation will continue.

    Like

  37. nineofnine April 1, 2017 at 9:10 PM #

    Are the falling foreign reserves due to consumption or could it be from flight via the said bank by any other reasons?????????

    We need to know the structure of the Bank and its operations absolute.

    Like

  38. Bush Tea April 1, 2017 at 9:38 PM #

    @ Tron
    Don’t mention Kant.
    You run the risk of attracting a fella called Dompey, …whose personal hero is Immanuel himself…. but who, unfortunately falls at the diametrically opposite end of the intelligence spectrum as does his hero..
    LOL
    ha ha ha

    What is your point?
    Very few philosophers have been able to propose any epistemological, or even ontological, frameworks that can stand the test of experience. Kant’s is par for the course.
    His was a belief in a supreme principle of morality.

    Bushie’s is a direct knowledge of a supreme creator, architect and engineer of life as we know it….. who therefore OWNS the right to define absolute morality…… and who does so by the VERY basic statement that says:

    First, listen to the advice of the God that engineered the whole shebang.
    Second, let your interests be as community-centric as you would want for yourself.
    and finally, love and respect yourself.

    If Kant, Mili, Pachamama and other big-brainers want to reinvent the wheel with esoteric theses that demonstrate their academic sharpness … that is fine, but trust Bushie, when it all boils down, BBE owns the keys…..

    Like

  39. NorthernObserver April 1, 2017 at 10:38 PM #

    @DIW
    separation of powers, Board and Management, avoids potential conflict situations.
    It cannot solve all issues, just some.

    Like

  40. Bernard Codrington April 2, 2017 at 12:12 AM #

    @ David @5 : 20 PM

    What is it you want to insulate the Governor from? From him to whom much is given much is required. It is a position of high responsibility and power. Exercising the qualities expounded by Bush Tea in the penultimate paragraph of his intervention at 9:38 PM. would help.
    Boards of Directors are at the mercy of the management and staff of corporations in the private and public sectors. Executives are in the trenches and are the technocrats. They determine what issues reach the Boards. The boards are reviewing committees which give the final approval. It helps when the members of Boards have some of the technical knowledge. And even then ,they should not arrogate to themselves responsibilities that are not theirs. The Governor is both chief technocrat and chairman of the BOD. A good chairman guides the Board in its deliberations and seldom has to exercise his casting vote. He elicits the consensus of the Board of Directors. There generally is little or no conflicts of interests.

    It is out of place for me to comment on appointments at any corporations in Barbados.

    Like

  41. Bernard Codrington April 2, 2017 at 12:22 AM #

    Error. Last paragraph of Bush Teas submission. Are these paragraphs shifting around? Do you understand why Sinclair carries a note book? Decimal points will not shift.

    Like

  42. David April 2, 2017 at 1:09 AM #

    When the acting Governor speak Bernard? When!

    The last part of your comment did not address the qualifications for the job of deputy Governor. It was not about questioning the appointment per se.

    Like

  43. Heather April 2, 2017 at 8:55 AM #

    @ Hal, a monetary union should have been created decades ago. It would have stabilized the economies of Caricom. It does not appear to be the focus of Caricom.

    Like

  44. Heather April 2, 2017 at 9:06 AM #

    @nineofnine,
    Having a Caricom Central Bank set up to be a regulator only if I understand your point may not be cost effective in the long-term or the short term.
    The existing Central banks can be algamated to form the Central bank with on departmement that overseas all regulations.

    Like

  45. Hal Austin April 2, 2017 at 9:12 AM #

    Heather,

    Caricom has failed. A full monetary, customs and political union would give us the weight of Norway.

    Like

  46. Hal Austin April 2, 2017 at 9:18 AM #

    Heather/nineofnine

    The Fed regulates 50 central banks up to 3000 miles apart. So why not Caricom.

    Like

  47. de pedantic Dribbler April 2, 2017 at 10:26 AM #

    @NorthernObserver April 1, at 10:38 PM re “…separation of powers, Board and Management, avoids potential conflict situations. It cannot solve all issues, just some.”

    Let’s agree to disagree on this point. There are instances where the CEO and Chairman roles are best separated but I see no real merit in such being helpful as you noted in this case.

    Generally, @Bernard’s point that “[a] good chairman guides the Board in its deliberations and seldom has to exercise his casting vote. He elicits the consensus of the Board of Directors” is well stated.

    Practically a CEO (Guv) should be given the mandate to direct the organization as he/she sees fit. After-all that is why they are hired and given the power.

    In turn, an effective Board is comprised of enough ‘independent’ thinkers to provide a robust counterbalance with the deep discourse of company governance at meetings. When that is properly in place there should be no worries about ‘separation of powers’.

    A perfect example of that null position was the CLICO Board. There sat a few highly regarded Bajan men and women of integrity (Dr Springer notably) but there TOO MUCH consensus prevailed.

    Were the post of Chairman and CEO separate do you really believe that would have created better governance….And the answer is NO…. just saying, to preclude an actual response. LOLL.

    @Hal, what exactly are you saying with “The Fed regulates 50 central banks up to 3000 miles apart. So why not Caricom.”

    That seems totally impractical on face value

    Obviously, you all (Heather, nineofnine and others) know that equating the US Fed to any comparable regional beast means that there would be one currency?

    So can any of you clarify the benefits that accrue to any island at this time to have a unitary note in this vast wasteland of poor currency values and each gov’t ‘s rush to the abyss with the printing of money!

    What is this pie-in-sky chatter about actually?

    Like

  48. nineofnine April 2, 2017 at 1:01 PM #

    @ Heather April 2, 2017 at 9:06 AM #

    @nineofnine,
    …”Having a Caricom Central Bank set up to be a regulator only if I understand your point may not be cost effective in the long-term or the short term.”

    Heather, my comment was..
    …”Abolish the Central Bank of Barbados…NO,
    Reasons being, to remain the regulatory body of the local banking sector, International transactions of the diaspora and facilitator of government economic business.
    What is necessary is being in COMPLETE CONTROL of its ownership, mandate and policies, and independent of Government control and foreign influence in decision making and appointments”…
    ………………………………………………………………..

    Heather,
    An AMAGLAMATION of Central Banks in the Caribbean is NOT the idea conveyed.

    All Central Banks would Retain their identity and purpose under self ownership and governance as a separate entity to regulate the local banking sector, Local Government Business and International Transactions of Forex…..still with an oversight body and with absolute transparency framework in place.

    What is needed is a separate entity that can be so called the “CARICOM/CARIBBEAN CENTRAL BANK, not a duplication of the Caribbean Development Bank.

    The “CCB” acts as a separate body aim at streamlining the overall development processes of the regions’ Central Banks with independent oversight and transparency infrastructure and mechanisms (from within the CARICOM CUMMUNITY framework)….. also by extension to that of the regions’ Central Banks.

    To move the region COLLECTIVELY by FINANCING pertinent INFRASTUCTURAL DEVELOPMENT and the development of ITS’ PEOPLE and “sheeple”…hic.

    Moves these island states Central Banks towards and into self ownership and self governance independent of the GOVERNMENT of the State.

    “CCB” will become the “bank of funding”, the negotiator, the facilitator of INHOUSE funds accessible by member states AND BY EXTENTION FUNDS PROCURED FROM INTERNATIONAL LENDING MARKETS.

    REPORTS TO THE CARICOM COMMUNITY.

    Like

  49. Bernard Codrington April 2, 2017 at 1:27 PM #

    @ David@ 1:09 AM

    The acting governor was not appointed to speak. The job description of the Governor is displayed in one of the interventions earlier. He has a very extensive lists of responsibilities which should keep him very busy. I am sure you will have a chance to hear his voice in the next scheduled quarterly report.

    You may recall in another topic ,I adverted to the principle that qualifications get one through the door of the corporation but one’s promotion, even to acting positions, is determined by one’s competence and one’s ability to do the job. Obviously ,those who made the promotion agreed that he/ she has the necessary qualifications. I believe, in the past ,a person with equivalent qualifications was appointed governor . There is a precedent.

    The deputy governors oversee two main divisions (1) operations ,generally defined and (2) Economic analysis and policy, broadly defined.

    My knowledge of the accounting and finance syllabuses of most Accounting examining bodies suggests that the person would be qualified.
    I hope that answers your concern.

    Like

  50. David April 2, 2017 at 1:34 PM #

    Thanks Bernard. The only worry is that one does not feel any energy coming from the central bank if compared to what is reported about former Governor of Ireland central bank and the role he played in their transformation.

    https://barbadosunderground.wordpress.com/2017/03/28/nis-dumps-21-million-dollars-in-apes-hill-development/comment-page-3/#comment-853358

    Like

  51. Vincent Haynes April 2, 2017 at 2:08 PM #

    David

    Could you post a link to pg 12a of todays Sunday Sun for the BU diaspora to read the views of the latest Action Group that includes VOB moderators on it…..Unlimited campaign finance must stop……is todays topic.

    Like

  52. David April 2, 2017 at 2:13 PM #

    @Vincent

    Curious, if this group is serious should they not have a social media presence?

    Like

  53. vincent haynes April 2, 2017 at 3:31 PM #

    David

    Chuckle……good one….those seeking to be activists must know their tools.

    Like

  54. nineofnine April 2, 2017 at 4:34 PM #

    @de pedantic Dribbler April 2, 2017 at 10:26 AM #

    …” Obviously, you all (Heather, nineofnine and others) know that equating the US Fed to any compade pedantic Dribbler April 2, 2017 at 10:26 AM # rable regional beast means that there would be one currency?

    So can any of you clarify the benefits that accrue to any island at this time to have a unitary note in this vast wasteland of poor currency values and each gov’t ‘s rush to the abyss with the printing of money!”…..

    For the clarity of your claim, I did not equate the “CCB” to the structure of that liken to the Federal Reserve which in truth regulates SOME of the nation states “Central Banks” while others are by the Office of the Comptroller of the Currency in the Department of the Treasury.
    The Federal System does not control outside of if territory, but can influence the operations of non territorial banks by their decisions on open market initiatives.

    As per your query …”clarify the benefits that accrue to any island at this time to have a unitary note in this vast wasteland of poor currency values and each gov’t ‘s rush to the abyss with the printing of money!”…..

    A UNITARY NOTE matters not as this is effectively calibrated into submission/scenario by any member state and the value of its currency is absolute.
    As I have mentioned before, the printing of money unless it has an asset base (gold or precious metals) is illegal.

    Like

  55. Well Well & Consequences Observing Blogger April 3, 2017 at 6:44 AM #

    A monetary union in Caricom is only possible if these foolish very tiny, very small island governments stop trying to impress and emulate large countries when they have neither the intelligence nor the resources to do either….

    ……stop trying to be first world and world class when they are not mentally savvy enough to negotiate the required agreements to get there, the large countries have had centuries of practice in deception, that puts them ahead by centuries…….

    ……stop trying to negotiate individually when doing so as a united bloc would produce better results…..none of them is an island that can operate successfully as a stand alone, will never happen, but should be operating as one group…as the US has been telling them for years.

    The economic disasters that are the rich in resources Guyana and Jamaica are prime examples of how unprepared and unequipped small governments are when at the same table as their more knowledgeable and savvy much larger trading partners.

    Like

  56. Tron April 3, 2017 at 7:53 AM #

    Barbados is so deep in debts, no other CARICOM state will accept Barbados as a member of a common currency. Especially not after the next report on the falling foreign currency.

    Like

  57. David April 4, 2017 at 11:36 PM #

    And interesting view from Jeremy Stephen.

    https://www.barbadostoday.bb/2017/04/04/banks-hoarding/

    Like

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