Trapped in Freundel’s World

Prime Minister Stuart with Richard Sealy who acted in the position this week.

Barbados suffered ANOTHER downgrade from S&P Global credit rating agency – long-Term local currency rating to ‘CCC’; ‘CCC+’ Foreign; Outlook Negative. Follow the link to understand the definitions of the S&P credit ratings.   The CCC credit rating is defined as:

An obligation rated ‘CCC’ is currently vulnerable to nonpayment, and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitment on the obligation. In the event of adverse business, financial, or economic conditions, the obligor is not likely to have the capacity to meet its financial commitment on the obligation.(p.5)

Barbados Underground was criticised by a few because we did not post a blog to share the news of the downgrade on Wednesday (27 September 2017). Barbadians are experiencing ‘economic fatigue’ after 7 years of a protracted anaemic economic performance.  Even if blame is ascribed to BOTH political parties for the island’s poor economic performance, it does not change the reality for the majority of Barbadians. Perception is reality and the reality (perception) is that we have become trapped in the economic headlights like the deer.

Confirmation of the degree to which the leadership of the country is locked in old thinking was confirmed yesterday by acting Prime Minister Richard Sealy. During an address to DLP faithful at party headquarters he lauded the increase in tourism arrivals year over year. He shared the news that a few local tourism players will be renovating or adding rooms to the plant.  He also shared that the Hyatt hotel developers will start construction in a couple weeks. The BU household is of the view the Hyatt matter is the subject of a court action. Isn’t the construction of the Hyatt before the court because citizen advocate David Comissiong has filed for a judicial review? Did acting Prime Minister Richard Sealy disrespect Barbadians and the Barbados courts with his glib announcement that the Hyatt will break ground in two weeks?

Listen to acting Prime Minister Richard Sealy with 8min:34sec to go on the video. Did he mention that the Pure Beach property is still in play? Really acting Prime Minister Sealy?

Did Sealy also demonstrate ignorance with his reference to increase tourist arrivals as a measure of success in the sector? Has the  more accurate measure shifted to dollars spent (ave$spend) by the tourist as the best performance indicator to measure success in the hospitality sector? Why have we not seen significant positive movement in foreign currency inflow net of FDI? Was Sealy’s measure of success debunked by former minister of tourism Vincent Vanderpool. Also, if Sealy is a student of the marketplace he should have taken note of an address former Prime Minister Owen Arthur delivered a few years ago at the Errol Barrow Creative Centre, UWI, Cave Hill. Arthur was clear to point out that tourism as a single sector CANNOT generate the economic growth Barbados needs to pay its bills.

What is obvious is that this government will continue to make political decisions. Let us send up the prayers that we are are able to limp along until the Prime Minister gives the people the opportunity to exercise the right under the Constitution to select the political party of our choice.

190 comments

  • Cyprus, a country of just 1 million people, has earned an average of US$1 billion annually since 2013 from its CBI program.

    Like

  • Malta is selling passports at the rate of 900 to 1,000 annually.

    Like

  • “Bush Tea October 1, 2017 at 2:29 PM #…The high-class ones are the scum of the earth…”

    I certainly hope that you are not referring to any “sophisticated, successful, independent, high profile, professional” Barbadian women.

    Like

  • The sh.it that these countries leaders would do as so much as behaving like prostitutes to pay off their contry debt is mindboggling.
    All this bobbing and weaving against the best interest of that which is naturally owned by their citizen one day would come back to bite the country in the a.ss
    Exhibit A Jamaica whose social enviroment is torn to asunder because leadership thought it best to appease International rating agencies

    Like

  • NorthernObserver

    Dr JR only gives half the story. Why did Sagicor redomicile? Why “should” GEL be doing likewise…albeit more related to Fx reserves. Ratings have a knock-on effect well beyond the sovereign’s perceived ability to repay.

    Like

  • A well-managed CBI program would eliminate the fiscal deficit.

    Sales of the airport, seaport and other assets (buildings) to foreign owner-managers would reduce the foreign-currency-denominated debt.

    Better tax collections would reduce the domestic debt. Hire E&Y to show you how to do this.

    No East Indian (Hindu) ladies should be running the Barbados economy. Political independence should mean political independence.

    Like

  • He was roundly criticized on today’s talk show by Ryan Straughn.

    Like

  • Well Well & Consequences Observing Blogger.

    Sell passports is hoeing to the detriment of people and country.

    One disaster can take you out of the hoeing business, just ask Skerritt.

    Try producing for a change, it’s tried and true.

    Like

  • @ Chad
    A well-managed CBI program would eliminate the fiscal deficit.
    +++++++++++++++++++++++++++++++++++++++++++++++++++
    No doubt….
    …as would a (very) discrete series of liaisons between your wife and some wealthy (Bushy) stranger do wonders for your household balance sheet….

    Do you have any application forms…?
    …or would you prefer to starve?

    Like

  • peterlawrencethompson

    @Chad99999,
    “Political independence should mean political independence.”

    A CBI program will import high net worth individuals some of whom will be trying to escape other jurisdictions and will have no problem buying off out pathetic political class to pursue their illicit schemes from Barbados. So much for political independence.

    Sales of our infrastructure assets will result in us being charged to use them and losing control over those charges. Say hello to $100 GAIA departure tax and goodbye to political independence.

    E&Y (or PWC or Deloite) will show us how to restructure our bureaucracy for better tax collections to reduce debt… they will sell us the software and maintenance contracts to improve efficiency… then they will consult on the budget… then they will write the budget, but we will still have our “political independence 😉 ”

    Let’s be adults and face the fact that our economic survival means some compromise of our “political independence.” Our decision is about to whom we surrender some measure of this independence: “East Indian (Hindu) ladies” working for a multilateral financial institution, high net worth individuals look for a safe haven for ill gotten gains, multinational consultants from global accounting giants (could be more “East Indian (Hindu) ladies” working there), foreign investors looking to guarantee high returns by owning critical infrastructure that a nation cannot do without or build another one to compete…

    Take your pick Chad99999, but spare yourself the illusion that you are preserving your “political independence.”

    Like

  • peterlawrencethompson

    Bush Tea October 1, 2017 at 2:29 PM #
    “The ONLY difference between a cheap ‘ho and a high class ‘ho, is that Bushie can forgive the cheap one who may be doing it to feed her children and / or out of desperation….”

    I am pointing out that we are already a cheap ‘ho through mass market tourism and offshore financial services. The problem is this: we are not making enough to feed the children. Do we let the children continue to go hungry or do we find better clients for our line of work?

    Don’t get me wrong. I would prefer that we changed professions, but there seems to be no appetite in Barbados for such a radical move: we are doubling down and pouring whatever scarce resources we have into tourism. Developments like Hyatt Centric and Sandals are well on their way to further destroying the natural environment in Barbados.

    Chad99999 has proposed that we be a more high class ‘ho. I would prefer that we not be a ‘ho at all, but Bajans don’t agree with me.

    Like

  • Apart from the Caribbean and other third world nations, which countries are selling citizenship? Still waiting for proper evidence and not newspaper articles.

    Like

  • peterlawrencethompson

    Discussing Citizenship By Investment (CBI) makes me feel as though I’m handling something radioactive: undoubtedly a source of power, but inherently distasteful and dangerous.

    Given the fiscal power of this type of scheme, I fear that the BLP is almost certain to propose it before the next election.

    It would be a huge mistake to couple a CBI to real estate purchases. That would simply enrich the Altman class and all the foreign exchange would stay offshore as rich foreigners bought properties from each other. Furthermore it would be disastrous for housing price inflation in the local market.

    If it were implemented all the proceeds should go into a Barbados Sovereign Wealth Fund completely legally walled off from the general revenue. It should be used only for rolling over foreign debt or for infrastructure investment. It is imperative that it be set up so that politicians cannot get their hands on it to pay civil servants’ salaries and the like.

    Like

  • @Peter

    It is a simple equation, if you are unable to significantly cut public expenditure then you have to significantly increase public revenue. Our politicians have demonstrated an inability to be creative managing our public finances read they raise taxes or dabble with expenditure cuts. Take comfort in the fact Minister Donville Inniss has made his position public on CBI programs.

    Like

  • peterlawrencethompson

    But has Mia made any public pronouncements on CBI programs? I don’t trust that lot any more than Donville’s crew.

    Like

  • Talking Loud Saying Nothing

    @ Hal,
    Portugal had a “golden visa” for foreigners which they have either scrapped or frozen due to the scheme being abused.

    http://www.politico.eu/article/angola-portugal-investment-economy/

    https://www.theguardian.com/world/2017/sep/18/portugal-golden-visas-corrupt-brazilian-tycoon-among-applicants

    Like

  • PLT

    Would you prefer Uma and her entourage showing up every three months to supervise the Minister of Finance?

    You can choose the foreigners you offer citizenship to. You can overrule E&Y on specifics and switch to another accounting firm. But you cannot overrule Uma and the IMF.

    Like

  • PLT

    Other than hydroponic agriculture, what productive activities would meet your criteria for not being a ‘ho?

    Like

  • All denial won´t help. External devaluation is coming.

    Ask yourself a simple question: Are 2 Barbadian workers together as productive as 1 American worker? Surely not. You need at least 4 to 5 Bajans to achieve the same result as one US worker in the States.

    Of course, the local accountants (eg from E&Y) and local banks have zero interest to speak out the truth. Their companies are deeply involved in the scam called government bonds.

    Ask yourself, why one pays for 1 l milk in other CARICOM destinations 1 USD and in Bim 3.5 USD. The Barbadian currency is already devalued. So far internally. What are you getting for 100 BBD in Barbados? More drugs and bullets than food and services. What type of car are you getting for 60,000 BBD in Barbados? A tiny rice bowle. In other countries you get a Mercedes A class or a BMW 118i for the same money.

    Like

  • peterlawrencethompson

    Chad99999 October 1, 2017 at 5:55 PM #
    “what productive activities would meet your criteria for not being a ‘ho?”

    Well I’m glad you mentioned agriculture… I’m told we spend $800 million/year on imported food. If we replaced 63% of that with simple behavioral changes to buy local food we would add $1 billion to our GDP… that’s about 10% economic growth without having to spend an extra dime.

    After that we should radically revamp our energy sector by forcing Emera to remove all restrictions on connecting small home based solar installations to the grid provided the homeowner also installed some battery capacity. I leave it to the engineers to work out exactly how much battery capacity would be necessary to maintain grid stability. Would also incentivize wind energy projects with the aim of reducing fossil fuel use for electricity production to zero within a decade.

    The reform of the public transportation system transitioning to electric vehicles should go in tandem with this so that a decade from now no diesel or gasoline vehicles are imported. Accelerate this transition by taxing fossil fuel vehicles at 200% duty and electric vehicles at 0%.

    All the above with energy and transportation is just putting basic infrastructure in place for productive activities in a 21st century economy… the real culture change is educating and socializing Bajans to grow up not expecting to get a job, especially not one working for the government, but intending to be owning and running an entrepreneurial business.

    Like

  • millertheanunnaki

    @ Chad99999 October 1, 2017 at 5:55 PM
    “Other than hydroponic agriculture, what productive activities would meet your criteria for not being a ‘ho?”

    What about considering the legal cultivation and processing of marijuana as a new age cottage industry?

    The spin-off benefits can be rather effective, if its known multiplier effect within the current underground economy is anything to go by especially in the financing of many a politician’s bid for electoral success.

    For sure there would tremendous savings in forex by means of a ready-made form of import substitution and by turning off the current leaking underground tap since the Mickey mouse Bajan dollar is no longer fiat money in the Caribbean underworld and is now given treatment of the persona non grata equivalent.

    With a massive population of unproductively idle young people the expanding demand would generate a supply of locally produced ganja.

    But there is always room for the middle-class entrepreneur to add value by way of producing byproducts from the herbal ‘grass’ in the form of natural medicines as substitutes for the imported placebos manufactured by Big Pharma and exotic sounding cosmetics, toiletries and personal apparels like handbags and underwear using Rihanna and her copycats as a starring sponsors.

    Like

  • MNK

    Great idea. Beats conventional agriculture.

    Like

  • Bush Tea

    “One tourist is worth more than a barrel of oil,” says Shamfa Cudjoe, Minister of Tourism, Trinidad and Tobago.

    She’s not a ‘ho either

    Like

  • Miller rocks the patrons of the drug soldiers. Weed drains the swamp!

    We will boost tourism by 100 %. And the very good effect of this splendid plan: Weed dos not weaken productivity in public sector. You cannot kill an already dead cat.

    To sum up all ideas above:
    – solarization of services, production and transport
    – replace fuel by electricity
    – replace foreign food by local products
    – make Bim the weed capital in the Western hemisphere
    – change mentality from plantation mode to entrepreneurship

    With such excellent ideas, maybe we do not need to fire 25 %, but only 5 % of all civil sleepers …

    Like

  • @ Chad
    One tourist is worth more than a barrel of oil..
    +++++++++++++++++++++++++++++++++++++
    Right now, ‘what Paddy shot’ is worth more than a barrel of oil… 🙂

    Like

  • Talking Loud Saying Nothing October 1, 2017 at 5:38 PM #

    Portugal had a “golden visa” for foreigners which they have either scrapped or frozen due to the scheme being abused.

    Talking Loud, there is a difference between residence and citizenship. What the Brazilians have been doing for a number of years – and we have had the result of this in both South and North West London – is using partiality to re-locate to Portugal, obtaining citizenship, then in many instances moving to the UK. That is why we have such large Portugue3ee/Brazilian populations in Clapham and Willesden.
    But that is different to selling citizenship. What they are doing is exploiting the partiality clauses in national citizenship laws.
    We are getting a lot of it now with Brexit, with hundreds, maybe thousands, of Brits, who have long denied their Irish ancestry, applying for Irish passports. During the Falkland War we had the same, with anyone who had access to a non-British passport applying for them for the purpose of entering Argentina.
    But there is difference between residence and citizenship. The Dominicans, Kittitians, et al are selling citizenship, which as independent jurisdictions they are free to do, but as members of Caricom it should raise alarm bells.
    We are not just economic beings.

    Like

  • David October 1, 2017 at 5:54 PM #

    He may have said and intended it, to which I say, ‘Good gosh NO’.

    Some may say it will not matter, but we will move from a pooch back and wave yuh rag state further into the gutter.

    Like

  • Hal

    The situation is more complicated than you describe.

    Countries like Portugal and Greece (as well as others in eastern Europe) have a two-tiered system for purchasing citizenship.

    There is a publicly announced policy of selling residency. Under that policy the foreigner can convert his residence permit (which is all he usually needs to conduct his business activities) into full citizenship only after a waiting period of several years.

    But there is a also a secret fast track to citizenship. For additional consideration, a waiting period can be shortened, and the grant of the passport is then a confidential matter not usually disclosed by the government.

    Either way, most businessmen from places like Russia, China and Iran are interested in the convenience of visa-free access, which they get either as residents or as citizens.

    Like

  • @ David BU

    Tyrone Griffith has been appointed as Commissioner of Police, effective October 1, 2017, after acting in the position since June 2013 (4 years & 3 months).

    You may also recall the Police Services Commission changed the qualifying prerequisite for the Commissioner and it was mentioned that Oral Williams and Erwin Boyce were the only two policemen with the specific qualification.

    What is your view of this situation, especially hearing that as elections draw closer, there will be “wide spread” appointments in the civil service?

    Like

  • Frustrated Businessman: Animal Farm sequel playing out in Bim.

    Speaking of moral prostitution, why is it no-one has dug up the old dead horse; casino gambling in Bim?

    Do we not remember when the Ds were last in power that MOF David Thompson made a deal with a UK company to open a casino golf-course resort at Bushy Park St. Philip to be watered by BWA drinking water to grow Forex?

    Do we not remember that, due to our legislation, cruise ships were required to close their casinos when they arrived in the Bridgetown Port and keep them closed until they left? Does everyone forget that this ‘rule’ was subsequently relaxed by this DLP gov’t?

    Do we also forget that Bim is one of the only places on the planet where only poor people can gamble with lotto, scratch cards and other nickle&dime pretences, on their way to and from church, while the real millionaire tourists, who could actually afford games of chance, can’t play the roulette and craps tables we don’t allow on moral grounds?

    We are a joke of a place.

    There was never any chance of economic recovery under Fumble’s Fools. We cannot solve our problems using the same thinking that created them.

    Like

  • @Chad
    So we are talking secret deals?

    Like

  • @Artax

    BU had an exchange with Caswell and Sargeant on the John Annel blog, have a read and report.

    Like

  • BBD needs Reggae and Herbs for AAA+ growth in markets

    Like

  • Speaking of moral prostitution that is exactly what the blp wants govt to do by selling off their citizens birth rights in exchange for filling the coffers of the international rating agencies. HELL Yes the blp screams go cup in hand to the IMF in exchange for social delocation and privitisation of want the people owns

    Like

  • Frustrated Businessman: Animal Farm sequel playing out in Bim.

    angela Skeete October 2, 2017 at 9:28 AM #
    Speaking of moral prostitution that is exactly what the blp wants govt to do by selling off their citizens birth rights in exchange for filling the coffers of the international rating agencies. HELL Yes the blp screams go cup in hand to the IMF in exchange for social delocation and privitisation of want the people owns

    Fool, if you run the rum shop you inherited from your grandmother into the ground (when debts exceed assets) because you didn’t have a fakkin clue how to run a business, you don’t own it, your creditors do.

    Just like the idiot stinkliar says he couldn’t sell CBC because he would then have to right off the bad debts owed to gov’t and then show them as losses. Instead, continue to perpetuate the losses, increase unrecoverable debts and all will be well.

    Just like the idiot stinkliar coming on TV in a Social Partnership meeting and telling the world that he doesn’t have a clue how to run a budget; instead he has to find money every month to prop up statutory corporations and gov’t agencies’ financial shortfalls because they don’t run to a budget either.

    There was never any chance of economic recovery under Fumble’s Fools.

    Like

  • For David and all the black nationalists on BU:

    Think of the CBI program as a backdoor reparations program.

    Our citizens enjoy privileged travel access to the UK and the British Commonwealth because of colonial ties that include a history of slavery.

    We can monetize those access privileges by selling CBI passports to businessmen from China, Russia and the Middle East. That way, we don’t have to ask the UK Treasury for money.

    Like

  • @chad99999

    He’ll no!

    Like

  • Frustrated business man u can bray all u want about Sinklair. The fact being that the blp alternative is in line with the IMF plan to get govt to come cup in hand and disrupt and dislocate the social and national interest of this tiny island. Hell No not going to happen ..butt head

    Like

  • This coming election the plan the blp have in mind for the country would be vocally sounded and put to test at the ballot box with a forceful rejection. No person in their right mind would take stock in the blp ressurection of having harsh and unrealistic remedies drawn out of IMF utterances and policies which have all but destroyed small islands nations social enviroment in order to repay or bow at the feet of international agencies. As a country our people needs must be first met

    Like

  • Well Well @ Consequences Observing Blogger

    we told you Chadster aint too bright, he has no original ideas outside what he hears from the eurocentric copies it and claims it as his…he is useless, they dont even want him but he keeps hanging on, in hope.

    Angela Yardfowl..ya hear the majority population will vote this government out, they are too destructive and are not wanted anymore, now be gone.

    Like

  • millertheanunnaki

    @ Chad99999 October 2, 2017 at 6:40 AM
    “Either way, most businessmen from places like Russia, China and Iran are interested in the convenience of visa-free access, which they get either as residents or as citizens.”

    Chaddie, you still have not explained to us why a genuine, above-the-board nice-guy business men (not women for you) you would invite to and sit beside in your Sunday mass at the nearest RC church would want to give up his citizenship to buy a Bajan passport when compared to buying one from Greece or Portugal?

    Why would a blue-eye poorly-speaking-English Russian or an ex-prison Chinese restaurant owner in Bim or a Sharia law-abiding Iranian or Sunni-infused Saudi business-minded jihadi be that keen to buy a Bajan passport to travel to countries currently offering “visa-free access” currently enjoyed by Barbadians; albeit with increasing suspicion and vigilance?

    Don’t you think such ‘eponymous’ individuals or members of their family holding a Bajan passport and presenting themselves to the immigration authorities to those so-called visa-free jurisdictions would set off bells of alarming suspicion given the prevailing environment of terrorism, illegal drug trading and money laundering?

    So why buy Bajan citizenship with dirty money unless you are the real McCoy who has a genuine desire to invest and live in Bim like the many whom in their ‘past’ serendipity visits to Barbados found paradise especially on the now sun-setting debasing Gold Coast and are prepared to take advantage of the ‘liberal’ legislative provisions already on the statute books?

    Like

  • angela Skeete October 2, 2017 at 12:50 PM #

    “This coming election the plan the blp have in mind for the country would be vocally sounded and put to test at the ballot box with a forceful rejection.”

    @ Angela “AC” Cox-Skeete

    After 9 years of failed economic policies; 20 consecutive credit rating downgrades; refusing to listen to alternative policies (ask Dr. David Estwick, Dr. Frank Alleyne or Dr. Delisle Worrell); and the bombastic, boisterous Christopher Sinckler cussing everyone who offers “solutions”…………..

    ………… I’m sure that “this coming election the plan the DLP has in mind for the country would be vocally sounded and put to test at the ballot box with a forceful rejection.”

    Liked by 1 person

  • So called intelligent individuals engaging an idiot in a “discussion” about selling Barbadian citizenship and passports based on CBI models adopted by some European countries and Malta……….

    ………. Countries whose economic circumstances are completely different when compared with Barbados and where investment opportunities are significantly higher and much more lucrative.

    Like

  • MNK

    There are many legitimate reasons wealthy Chinese, Russians, Iranians and North Americans shop for SECOND passports in the Caribbean: (1) To have access to and become more knowledgeable about offshore banking, private equity funds, hedge funds, etc. (2) To escape the pollution and currency restrictions of China, Russia and Iran. (3) To have visa-free access to the UK and North America for routine business trips. (4) To buy vacation and retirement homes. (5) To have a refuge from kidnappers, etc.

    Why don’t you ask your friends in St. Kitts to share their list of more than 10,500 passport recipients.

    Like

  • Artax

    When I was growing up, public discourse in the English-speaking Caribbean was dominated by decent, well-bred people.

    Now, with free education, we have ill-bred, uncouth people (like you) who consider themselves “middle class” because they went to school.

    Not good. You should head back to the gutter you came from.

    Like

  • There is no one in this forum more UNCOUTH than you and any man who has a mother and female relatives and insults/degrades women the way you do, CANNOT be a DECENT or WELL-BRED individual.

    “Now, with free education, we have ill-bred, uncouth people (like you) who consider themselves “middle class” because they went to school” DESCRIBES YOU PERFECTLY.

    It is obvious you did not learn well in school……… if you did, there would be no reason for you to keep bragging about “test scores and qualifications.” You are just a PSEUDO-INTELLECTUAL who tries to use this forum (and Google) in an effort to “pretend an interest in intellectual matters for reasons of status.”

    And the fact that you can never present any original thought is proof you are a dunce. You regurgitate, word for word, everything you read in a book or newspaper article and present it to BU as though you were the original author. (Plagiarism).

    However, I would gladly head back to the gutter when you I have PROOF of your DEPARTURE from that environment, because I do not want to occupy the same space as you.

    Like

  • Well Well & Consequences Observing Blogger.

    “Why don’t you ask your friends in St. Kitts to share their list of more than 10,500 passport recipients.”

    )because of those questionable sales of passports to shady characters….Kittitians now need visas to enter Canada.

    “Canadian Travel Visas for Citizens of St Kitts And Nevis. Passport Holders from St Kitts And Nevis require a valid Canadian Travel Visa to visit for tourism or business.”

    Like

  • Trinidad & Tobago 🇹🇹, a large producer of petroleum products – had today though it’s Minister of Finance – Colm Imbert – had to remove the fuel subsidies to the public of Trinidad & Tobago .

    I wonder why Barbadians who don’t have such supplies of petroleum products – cussing the government of the day (DLP) when it had to take the same steps some years ago ????

    Kudos to PM Stuart & MP Sinckler…… for keeping things on a balanced path !!!!!

    Like

  • from above ”There are many legitimate reasons wealthy Chinese, Russians, Iranians and North Americans shop for SECOND passports in the Caribbean: (1) To have access to and become more knowledgeable about offshore banking, private equity funds, hedge funds, etc. (2) To escape the pollution and currency restrictions of China, Russia and Iran. (3) To have visa-free access to the UK and North America for routine business trips. (4) To buy vacation and retirement homes. (5) To have a refuge from kidnappers, etc.”

    (1) access to offshore banking and hedge funds is not so good anymore in Cbean, as there is a difficulty in correspondent banking in the region due to exactly what you are describing, concerns as to sources, well, one reason anyway (2) as if the Caribbean does not have currency restrictions, especially Barbados. (3) visa-free access to UK and NA. This will soon stop for any country that sells its passports, those authorities are not stupid. (4) vacation and retirement homes, can give you this one, but the issue is, they will only do so in a community where they feel safe. (5) Well, answer as in 4. With all the shootings in the Cbean, not sure it is a draw.

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  • Well Well & Consequences Observing Blogger.

    As we keep saying Chadster has no original ideas in his big empty head, not one..

    “Why don’t you ask your friends in St. Kitts to share their list of more than 10,500 passport recipients.”

    because of those questionable sales of passports to shady characters….Kittitians now need visas to enter Canada.

    “Canadian Travel Visas for Citizens of St Kitts And Nevis. Passport Holders from St Kitts And Nevis require a valid Canadian Travel Visa to visit for tourism or business.”

    Like

  • I remember a statement by an an extremely rich Chinese woman who had CBI in a caribbean country. She was extremely disdainful of the country stating That “It was too hot and too far” (from China). Now this woman is a citizen of an island nation that she has visited only once and didn’t find to her taste. “I never want to go back,” she says.

    I would put my head on the block and swear the main reasons why foreigners want citizenship in the Caribbean are:
    1) Proximity to the US and to take advantage of any relationship the islands have with the US
    2) Trying to launder money
    3) Create a ‘new identity’ and have easier access to the US

    One day we will wake up and realize than many of those CBI were sold to Chinese agents posing as Chinese businessmen/women …..

    https://www.forbes.com/sites/simonmontlake/2013/07/03/beauty-offshore-a-caribbean-passport-for-a-chinese-restaurateur/2/#36be00e7445c

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  • CBI is the worst kind of prostitution. The John pays once and screw us for the rest of his life.

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  • @Well Well,

    Of course. Without strict assessment measures prior to approval of issuing a passport, possibly measures approved by such as the UK and US immigration authorities, any such program will result in the devaluation of the country’s passport.

    Barbados built a reputation over many years, thanks to the hard work of our forefathers (even if certain people have chips on shoulders about ‘elites’ who built the country).

    That is where the value lies in the passport. The value is not just because the island is a dot in the ocean. The value is based on reputation.

    By issuing to all and sundry, with the primary measure of introduction being one of money, without strict assessment of all the applicant’s profile, it is a given that the value will be reduced.

    Like

  • “Canadian Travel Visas for Citizens of St Kitts And Nevis. Passport Holders from St Kitts And Nevis require a valid Canadian Travel Visa to visit for tourism or business.”
    ++++++++++++++++++++++++

    WW&C

    is correct……

    In 1984, St. Kitts & Nevis established a CBI program, which is perhaps the oldest. There were two requirements to obtain citizenship, (1) making a non-refundable US$250,000 donation to the St. Kitts & Nevis Sugar Industry Diversification Foundation, a public charity, (2) investing a minimum of US$400,000 in real estate on the islands.

    In May 2014, the US Treasury reported that “illicit actors are abusing this program to acquire SKN (St. Kitts & Nevis) citizenship in order to mask their identity and geographic background for the purpose of evading U.S. or international sanctions or engaging in other financial crime.”

    “The Treasury specifically warned that several Iranian nationals designated by the Office of Foreign Assets Control (OFAC) had obtained passports issued through the program, despite the St. Kitts and Nevis government suspending Iranians from participating in the scheme in December 2011, shortly after Iranian students had stormed the British Embassy in Tehran. Iranians had previously been a major source of applicants.”

    Like

  • @Chad99999 October 1, 2017 at 5:06 AM “Hire foreign consulting firm to ovrrhaul the tax collection system…Put the Barbados government under the financial control of foreign ladies from India and the United States who graduated from university a few years ago and now work for the IMF and the World Bank?”

    What is the difference between “a foreign consulting firm” and “foreign ladies from India and the United States”?

    Yore misogyny and racism knows no end.

    Like

  • Canada now requires citizens of Jamaica, Trinidad, Guyana, Grenada and most Caribbean countries to obtain a visa for visits, not just citizens of St. Kitts.

    But Canada has a special relationship with Barbados (and the Turks & Caicos). Canadian politicians helped Barbados set up our offshore banking industry. Former Canadian prime minister Paul Martin and top Canadian businessmen, notably the owner of Apotec, Canada’s largest manufacturer of generic drugs, have located the world headquarters of their business empires in Barbados. In fact, Canadians have probably parked more investment capital in Barbados than anywhere else, except for the USA.

    So not to worry. Barbadians will have visa-free access to Canada for a long time.

    Like

  • Simple Simon

    Do you understand the difference between (1) a contractor you hire and (2) your boss.

    When the IMF takes over, the foreign ladies it sends to places like Jamaica and Grenada become the final authority on major financial decisions of the government. They visit the country every three months to oversee the implementation of their instructions and supervise the Ministry of Finance.

    By comparison, a foreign consulting firm works for and is accountable to the Government of Barbados. It can be fired if it fails to meet the expectations and requirements of the Government.

    The IMF cannot be fired.

    Like

  • @Chad, the reason Barbadians do not need a visa to come to Canada is not what you have outlined above, but the simple fact that analysis has found that Barbadians are the least likely to visit Canada on vacation and stay. Like the plane load of Guyanese who came on a chartered flight and only one old Indian turned up at the airport in Montreal on the morning of departure. They also do not apply for refugee status or political asylum. So anyone arriving here and asking for such is not looked on favourably. An don argue wid muh. Me uh wuk dere.

    Like

  • bajans

    Are you sure?

    I do not have the Canadian data for last year, but the US Overstay report for the Caribbean is available on the Internet.

    Of the 10 worst countries, Jamaica is at Number 2 (as expected). Guyana is at Number 5, Barbados at 6, Trinidad at 7 and Grenada at 10.

    In other words, there were more Barbadian overstays than Trinidadian overstays in the U.S., even though Trinidad has a larger population.

    Canada requires aTrinidadians to obtain a visa to visit.

    Like

  • Well Well & Consequences Observing Blogger.

    “not just citizens of St. Kitts.”

    As a direct result of passport sales to every known wirldwide crook….

    “Nov 22, 2014 – Canada has implemented the visa requirement on St. Kitts and Nevis due to concerns about the issuance of passports and identity management practices within its Citizenship by Investment program. Canada is acting to protect the safety and security of Canadians and the integrity of our immigration system.”

    Everytime you post something and dont research it, it proves what we say.

    Like

  • Well Well & Consequences Observing Blogger.

    “So not to worry. Barbadians will have visa-free access to Canada for a long time.”

    And of course ya too dumb to realize Chadster…that you do not get to make those decisions for Canada.

    They already made laws to cut down on Canadian tax cheats who park their money in Barbados…money has to be returned to Canada.

    They already instituted the ETA…means everyone, including Bajans have to be prescreened before flying to Canada…..and it still does not guarantee entry if approved….no more special treatment.

    If the economic environment on the island remains unfavorable…most, if not all companies will pull up roots and relocate to more favorable environs outside of Barbados…the island is not special…

    You definitely have no critical thinking skills…although, being the distrustful person that I am, I suspect you are trying to set up the island for a fall with your bad advice…

    ……the moment Barbados starts selling passports, given both government’s propensity to harbor, protect and collaborate with foreign crooks and criminals eg..Clare Cowan, Del Mastros…and a long line of others…visa free travel to Canada will be over…right away.

    Your reasoning skills clearly suggest that you never attended college, let alone university and definitely not in the US….I would be surprised if you made it to 5th form level education.

    Like

  • WW&C

    Too bad you weren’t bright enough to go to university.

    I’m sorry for you. But as I mentioned, not all of us are so unfortunate. I finished my A-levels at 15. First degree at 19. University instructor at 25. Subsequently a professor. Made 99th percentile scores on the GMAT (including a perfect score on the Verbal section of the test). Not only do I have a PhD, three master’s degrees and two professional designations, but I have a lengthy list of scholarly publications as well.

    Read it and weep. LOL.

    Like

  • Well Well & Consequences Observing Blogger.

    Ya full of shit Chadster, it’s been nearly 5 years I been on BU…never had to list degrees or accomplishments…my contributions speak for themselves…

    …..that is why there is no reason to read your fraud claim of degrees, your lack of advanced level education speaks for itself in all your contributions….even the ones you copy and paste.

    Like

  • Well Well & Consequences Observing Blogger.

    And ya IQ is barely bordering on 85….take it from someone who has a tried and tested IQ.

    Like

  • @Chad99999 October 2, 2017 at 9:28 PM #

    Read the IMF clause named “condition subsequent” in the Credit Suisse loan from 2013: “Borrower to provide Lenders with a full copy of the Staff Report for the 2013 IMF Article IV Consultation on Barbados as soon as it becomes available, as well as an update on the Borrower’s plans for implementation of any specific recommendations included in the report.”

    In other words, Barbados ALREADY failed to implement an IMF programme.

    Chad, forget national pride and all the talk about independence. The Swiss and the IMF rule this country. The government handed over the power in 2013.

    Like

  • “bajans” (Pat) is correct about the reasons for non visa requirement as it pertains to Bajans entering Canada. Most Bajans tend to visit and return home while there is a substantial number of “visitors” from the other territories who opt to stay and go “underground”. The Canadian Gov’t started to put these regulations in place when many visitors coming from other Caribbean countries started to make refugee claims ranging from political persecution to domestic violence and rampant homophobia.

    Canada also placed visa requirements for Mexicans after the number of refugee claims from that country escalated but that has since been rescinded by the Trudeau Gov’t. The Gov’t also placed visa requirements for the Czech Republic and Hungary mainly to stem the flow of Roma (gypsies) who claimed refugee status as soon as they landed.

    Regulations can change depending on which Party is in power in Ottawa, it is never wise to assume that visa requirements will always be favourable to Bajans entering Canada.

    Like

  • Sargeant

    Many countries, including the US, UK, Canada (Quebec), Australia, Spain, Norway, Austria, Hungary, Bulgaria, and many others sell passports or residence permits to foreign “investors”.

    The main difference is the price charged.

    As long as a CBI program is well-managed, it will be unobjectionable. It is an excellent option for Barbados at this time.

    Like

  • Chad,
    Yo have made this claim of passports for sale in EU or Schengen countries and I have asked for evidence. For example that this takes place in the UK, Australia and Norway. I am not talking about residence, which is normal – and I do not mean newspaper articles.

    Like

  • Well Well & Consequences Observing Blogger.

    “Most countries offer citizenship (passports) the hard way. But 7 sell them outright, and 3 have “powerful” passports. “Citizenship Planning” is a thing.

    For people who need a second citizenship and passport to dodge the long arm of their government, there is something called “citizenship planning,” similar to “financial planning.” But when it comes to just outright buying a citizenship and passport without having to languish for years as mere non-citizen resident, the Huddled Masses need not apply. And not any passport will do. In fact, there are only three for sale that are really good.

    Which are the best passports to get?
    There are quality standards for everything, especially if it’s costly. The most powerful passports are those that allow visa-free travel to the most countries.

    There are other considerations, for example those that drive US citizens nuts when they live overseas, due to the US government’s onerous reporting requirements on them and on banks that do business with them, and due to US taxation of their worldwide income no matter where they live. Few other governments treat their citizens that way.

    In terms of visa-free travel, here are the 25 countries with the most powerful passports, according to a new ranking by Henley & Partners, which is into “citizenship planning.” But among them is only – Austria – one whose citizenship can be bought (more on that in a moment):

    Germany: visa-free travel to 176 countries.
    Sweden: 175 countries
    Denmark, Finland, Italy, Spain, and the US: 174 countries.
    Austria, Belgium, France, Luxembourg, Netherlands, Norway, Singapore, UK: 173 countries
    Republic of Ireland, Japan, New Zealand: 172 countries
    Croatia, Greece, Portugal, Switzerland: 171 countries
    Australia, South Korea: 170 countries
    Iceland: 169 countries.
    And how do you get one of those passports?

    In most countries, the hard way: Legally immigrate and obtain residency, and then fulfill the residency requirements to get citizenship and that second passport, which takes years. Most countries, including the US, have special programs for “investors” to obtain residency, such as a green card, essentially on the spot, but even then it takes years to obtain citizenship and a passport. If it’s possible at all, such as in Germany.

    Then there’s the direct way: Buy a citizenship and the passport that comes along with it. These citizenship-by-investment programs are not for folks on a tight budget. According to Henley & Partners, only seven countries offer this convenient route, only three have powerful passports, and only one is in the top of the heap above.

    Passports from EU countries are the best. If you’re from Russia or China or Iraq and become a citizen of one of the 28 EU countries, you’ll get a country-specific EU passport that allows you to live and do business anywhere in the EU. There are all sorts of offshore benefits. And travel around the world is a breeze.

    But citizenship in most EU countries is not for sale. You can buy only residency, similar to programs in the US. But there are three exceptions:”

    Like

  • Well Well & Consequences Observing Blogger.

    It’s the visa free travel that makes a CBI passport attractive. ..

    “Here are the 10 best second passports for 2016. The citizenship by investment industry has undergone a lot of changes in the last year, including a major change to the St. Kitts passport offering. It’s has been kept quiet by those hyping this passport, but I’ll give you the full story here.

    Here’s everything you need to know to buy the best second passport in 2016.

    How to Value a Second Passport

    First, let’s talk about how to value a second passport. The best second passport is a) the one you can afford b) that gives you visa-free travel to the most countries. The smaller the number and the less desirable the countries, the less you should pay.

    For example, a second passport from Austria is the 4th most valuable travel document in the world and the most valuable second passport you can buy. This is because it gives you visa-free access to 171 countries.

    That is to say, a second passport from Austria is a group 4 travel document. A group 1 passport gives you visa-free travel to 174 countries. Group 1 passports are those issued by the US, UK and Germany. Group 2 offers travel to 173 nations including Canada. Group 3 gets you access to 172 countries and is a passport from Belgium and Netherlands.

    Because an Austrian passport gives you visa-free access to 171 countries, it’s a 4th tier passport and the best second passport you can buy… if money is no object. By comparison, Dominica gives you visa-free travel to 91 countries and is thus in the 41st tier.

    A second passport from an EU country (Bulgaria, Hungary, Malta, Cyprus or Austria) also gives you the right to live and work anywhere in the European Union.

    Finally, the number of visa-free travel countries gives you an indication of how your new passport will be received by world banks. An EU passport will allow you to open an account anywhere in the world. A passport from St. Kitts will have fewer options, but generally accepted. I expect it to be nearly impossible to open an account abroad with a passport from Comoros (last on my list of 10 best second passports).

    Don’t Fall for a Second Passport Scam

    There are a lot of online charlatans promising cheap passports, diplomatic passports, or banking passports. All of these are scams…. plain and simple, nothing to debate, they are scams.

    There is no easy or cheap way to get an authentic second passport.

    Think of it this way: governments around the world need to raise hundreds of millions of dollars to fill up their coffers. And second passports are are a multi billion dollar business. There is is not lack of customers… in fact, demand often outstrips supply.

    In such a market, countries are not interested in diminishing their brand by selling you a passport for $50,000. If anyone tells you different, or they claim to have a guy who can “hook you up,” run the other way. .”

    Like

  • Hal

    You are, or were a journalist. Why are you asking others to spoonfeed you information that is easy to look up?

    I’ll start you off:

    https://www.uscis.gov/eb-5
    http://www.immigration-quebec.gouv.qc.ca/en/
    https://www.gov.uk/tier-1-investor

    Like

  • Well Well & Consequences Observing Blogger.

    Business insuder has all the credible information you need about pasdport sales in EU, as usual Chadster is lying.

    “Bulgaria

    I rate Bulgaria #1 as the best second passport available because it’s one of the two programs where the investor is likely to see her investment again. This offering allows you to invest €512,000 in government bonds in exchange for residency. Then, after a year, invest another €512,000 to gain citizenship. There are also business investment options. That’s about $1.2 million.

    The Bulgaria program ties up your cash for 5 years interest free. That’s right, the government bonds do not pay interest. It will take two years to get your passport and requires you to visit Bulgaria twice. Residence is granted with acceptance and processing of your clean background check.

    Most of the programs listed in this best second passport post charge you a fee for the passport. Bulgaria and Cyprus (below) are the only ones where you can expect your principal returned.

    St. Kitts and other offer real estate investment options, but those come at significant additional cost and your prospects for selling for the purchase price are limited.
    A passport from Bulgaria is rated 18th in the world and gives the holder visa-free travel to 153 countries, including Switzerland the United Kingdom. It doesn’t get you visa free in to the US… only Malta and Austria do that. It also allows you to live and work anywhere in the EU.

    A passport from Bulgaria may allow you to work in the UK. There has been some political maneuvering on this point and the results are not yet known.

    As a partial member of the Schengen region, Bulgaria gets you access to all of Western Europe. Things are changing quickly in this regard as Bulgaria works to become a full member. For more information, see: The Cost for a Second Passport from Bulgaria will Double Next Year

    St. Lucia – Best value in 2016

    The St. Lucia second passport program is new for 2016 and modeled after the Bulgaria citizenship program. With St. Lucia, you have the option of buying the passport for $200,000 to $250,000 or investing $500,000 to $550,000 in government bonds for five years.

    Because this is a new program, very few second passports have been granted. In my opinion, this makes citizenship from St. Lucia a more private and “below the radar” purchase or investment. I prefer these smaller programs to the big names like St. Kitts which has received a lot of attention in the last few years.

    St. Lucia provides visa free travel to 121 countries as well as visa free travel to Switzerland or 180-days in the Schengen area of the European Union. Click here are all the visa free countries. At half the cost of Bulgaria, St. Lucia is the best value in 2016.

    You could say that the St. Lucia second passport program allows you to double your money in 5 years. Rather than paying $250,000, you invest $550,000, get a passport immediately, and your capital is returned in 5 years.

    When you compare St. Lucia to its Caribbean neighbors, it costs a fraction because you get your investment capital back. Total cost would be fees plus interest lost / opportunity cost of the capital invested into government bonds.”

    Like

  • Back at de BLPDLP farm……

    “I had to go and spend what little I had with swine. However, after seeing my political father, DeLisle Bradshaw,

    I came back home and a feast was prepared for me,” said Tannis, in an obvious reference to the biblical story of the prodigal son, who left in search of greener pastures but wasted all of his talents only to return home shamefully to ask for his father’s forgiveness.”

    https://www.barbadostoday.bb/2017/10/02/dlp-swine/

    Like

  • Is Tannis related to the Tannis family who owned the Barbados Pioneer?

    Like

  • Hal

    iip.gov.mt

    Like

  • Chad

    To qualify for citizenship, the main applicant must be at least 18 years of age, provide proof of having been a resident of Malta for a period of 12 months preceding the issuing of a certificate of naturalisation and meet the following investment requirements:
    – *The acquisition of real estate with a minimum value of EUR 350,000 to be held for at least 5 years; or
    – *Lease a residential immovable property in Malta for a period of 5 years, at an annual rent of at least EUR 16,000; and
    – Make a contribution to the National Development and Social Fund
    – An investment in stocks, bonds or special purpose vehicles to be identified by Identity Malta, for a minimum value of EUR 150,000 to be held for a minimum period of 5 years.

    @Chad,
    This reads like a five-year qualification to me, with 12-month residence preceding the granting of a naturalisation certificate.
    This is not what is understood as a passport for sale. Also look at the due diligence.

    Like

  • @Well Well & Consequences Observing Blogger. October 3, 2017 at 9:54 AM “There is no easy or cheap way to get an authentic second passport.”

    Wrong.

    Actually for young, healthy, native English speakers with at least a high school education, but preferably with a community college or university education, or better still a post graduate education getting a second passport is ridiculously, ridiculously, easy.

    It is called legal migration…and legal migration is not hard [although completing the multiple forms is tedious, but not difficult, no lawyer is required. If you have a high school education there is no reason not to do it yourself] for those people who fit the above criteria, that is young, healthy, English speaking, and moderately well educated.

    But people too love to pay foolish money to try to get a short cut.

    Like

  • @Chad99999 October 1, 2017 at 5:06 AM “Hire foreign consulting firm to overhaul the tax collection system”

    You sure you int looking for a pick as foreign consultant? We pay you nuff, nuff money to tell us what we already know.

    Stupssseee!!!

    Like

  • Hal

    You are being silly again. We said passports and residence permits are for sale. We didn’t say the sale was an INSTANT SALE.

    If you were to immigrate to Canada or the United States or an EU country in the normal way, you would HAVE TO WAIT THREE TO FIVE YEARS FOR A PASSPORT. Check the rules.

    You always have to wait for a passport. But as an investor, You are BUYING THE PASSPORT. So what are you saying? While you are waiting you have full, convenient ACCESS TO THE EU AND NORTH AMERICAN COUNTRIES FO BUSINESS ACTIVITIES.

    Like

  • Simple Simon

    You are a partisan yardfowl of a Barbadian. So I understand that you do not want solutions for Barbados. You want victory for the Lesbian Party.

    Good for you and your tribe. If you prevail, you will make a mess of things for sure.

    Like

  • Well Well & Consequences Observing Blogger.

    “It is called legal migration…and legal migration is not hard [although completing the multiple forms is tedious, but not difficult, no lawyer is required. ”

    Simple…trust me, it’s hell on wheels now, Canada has turned it into an enormous competition and challenge for the most qualified and brightest grauduating from their universities. ., and there is still no guarantee of landed status…

    Not let’s talk about US, there is no more guarantee of a work permit..,, nothing.

    There are immigrants still waiting 20 years later for greencards that their families filed for…luck of the draw…

    Times have changed drastically.

    Like

  • Chad,
    I can promise you I have no intention of migrating to the US or Canada. Business visas are available all over the world, and after a period of time – five or seven years – the resident can apply for citizenship. Apart from the Caribbean, I do not know of any country that sells citizenship (ie a passport) from day one. You accept this.
    We are in danger of fabricating evidence to support our story. One person even gave the link to a newspaper article as evidence.

    Like

  • According to Wikipedia an Iranian passport only gives visa-free access to only 38 countries around the world.

    A Mainland Chinese passport only gives visa-free access to about 50 countries. A Russian passport gives visa-free access to about 100 countries.

    But according to Wikipedia, a Barbados passport gives visa-free or visa on arrival access to 143 countries.

    So our market would be the thousands of wealthy business families looking for greater freedom.

    Like

  • @chad99999 October 3, 2017 at 12:14 PM “Simple Simon You are a partisan yardfowl of a Barbadian. So I understand that you do not want solutions for Barbados. You want victory for the Lesbian Party. Good for you and your tribe. If you prevail, you will make a mess of things for sure.”

    Not a yardfowl.

    Not partisan.

    Not a member nor supporter of any political party, Not B, not D, not Lesbian.

    I live here so of course I want Barbados to be successful, because I live here.

    My children live here.

    My grandchildren live here.

    Since I live here and since I intend to live here for many decades yet can you please explain why would I want Barbados to fail?

    Like

  • You actually make it appear really easy together with your presentation however I in finding this
    matter to be actually one thing that I feel I might never understand.
    It sort of feels too complicated and extremely huge for me.
    I am looking ahead to your next post, I will try to get the grasp of
    it!

    Like

  • What is a Yardfowl?

    Is it a Roast Duck

    Like

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