Stuart, Sinckler and Robinson Not on the Same Page

Two events occurred this month that should concern ALL Barbadians.

Event #1

The following extract is taken from a press release by Dr Justin Robinson published on September 29, 2017 in his capacity as Chairman of the National Insurance Scheme.

…Today, with the economy projected to grow by around 1.75% and the deficit expected to be 4.0% or less, we have yet another downgrade. How does this make any sense?… Barbados Underground blog

The following extract is taken from the local press attributed to Chris Sinckler, Minister of Finance on October 3, 2017.

…he [MoF] told reporters that growth was more likely to be in the range of 0.5 per cent and 0.7 per cent in 2017…Barbados Underground blog

Event #2

The following extract is taken from a press report on the October 6, 2017.

…I believe the figure so far is just short of $50 million, which, if you were to multiply it by the four quarters, would give you just around $200 million [for the year],” Sinckler told Parliament, adding that the final intake would be even higher after the Barbados Revenue Authority counts the additional Value Added Tax (VAT) earned on the NSRL…CBC website.

The following extract is taken from a press report on October 9, 2017.

…Last Tuesday, Minister of Finance Chris Sinckler reported to the House of Assembly that the NSRL, increased from two per cent to ten per cent on July 1, had contributed “just short of $50 million” to Government’s coffers in a quarter and was projected to inject $200 million over a year.

However, in the wake of that revelation, Stuart is reported to have said he did not have all the financial data from that quarter and would speak to the takings when he had received such information…Nation newspaper

The three actors involved – Freundel Stuart, Chris Sinckler and Justin Robinson – occupy three of the most important positions in the country as prime minister, minister of Finance and Chairman of the National Insurance Scheme. The thought that they would not be reading from the same page is a worry to BU. Note the timeline shows the statements to be four days apart. So far we have not picked up any explanation  why three key players in government are communicating different messages.

What the hell is going on?

44 comments

  • David

    Have you ever seen rats on a sinking ship running in the same direction?

    We will have to wait until after this government falls to get a better idea about the palace intrigue.

    Like

  • Well Well & Consequences Observing Blogger.

    Lol…

    Like

  • Well Well

    We know for certain that before the 2008 election the politicos, including Robinson, use to frequent BU to gauge sentiment.

    Therefore, we must put the fear of Pachamama in their hearts.

    Like

  • This is not a tale of 3 men.
    Dr Robinson serves, on two boards, at the pleasure of the MoF. He does as he is told, or ask to do.
    The PM has never had much interest nor knowledge of financial matters, beyond the strategic consequences. He delegates this to the MoF.
    That leaves the MoF. He runs the show financially, and communicates to others if and when he feels like.
    So the fact Dr Robinson’s info was out dated or the PM didn’t know for sure, is perfectly explainable. It is all dependant on if and when the MoF chooses to communicate.

    Like

  • NorthernObserver

    You are really saying that Sinckler is a law unto himself or that he is in charge. It would seem that his pronouncements caught the PM napping.

    Like

  • DLP’s FACTS= Freundel and Chris telling stories…….

    No wonder no one can find out what is the real truth!

    Like

  • Northern

    Our head tells us that you maybe right.

    But out gut tells us that every manjack brekkin’ fuh he self ………………

    Brekkin’ and running.

    They only have about 3 months left, we’ll see.

    We would wager that the DLP will run a lackluster campaign, just like Fruendel

    Yuh know after 10 years, 2 terms, these parties run out of steam, things fall apart ………………

    We might as well have term limits.

    Like

  • Northern Observer,
    Sitting on boards is not Dr Robinson’s substantive job. He has the moral option of resignation, which he has chosen not to execute. So, his inaction means he is as much to blame.

    Like

  • @Northern Observer

    You should have noted BU made mention of roles. They are severally responsible for the miscommunication on such an important matter as the performance of the economy. These are actors the market(s) look to build forecasting etc. Even if we were to accept your feeble defense of what has transpired, the unwillingness to remedy the faux pais? speaks volumes.

    A responsible media should have been dispassionately prosecuting this issue since it manifested. Can you imagine if this had occurred in the US or the UK? An issue like this brings into sharp focus the ‘quality’ of governance practiced in Barbados.

    Like

  • Well Well & Consequences Observing Blogger.

    “We know for certain that before the 2008 election the politicos, including Robinson, use to frequent BU to gauge sentiment.

    Therefore, we must put the fear of Pachamama in their hearts.”

    Pacha….and then some, the 20 years in prison Adriel Nitwit is now advertising for gangs should be for these very dirty ministers, civil servants and politicians and the gangs they themselves control in the drug trafficking, gun running holes and the gangs their minority bribers in the white, indian, syrian communities also control in the drug dealing, gun running, money laundering, human trafficking holes on the island.

    Now is not the time to ease up on them, they cannot be creative and devise innovative ways to fix the proplems they created for the majority population, but they know good enough how to be creative in devising vicious plans to help their minority bribers rip off taxpayers and pensioners,to keep their bribe train running…..to rip off the same taxpayers who educated all their hungry, sorry black asses so they can become lawyers, doctors, thieves and sellouts.

    They are all cockriaches that should be exterminated.

    Like

  • Well Well & Consequences Observing Blogger.

    Just watch and see how one by one they will all suddenly turn into thinking genuises to deceive the electorate to be relected or elected to commit the same crimes against the people like before. … …….the genuises they are hard pressed to be while collecting a salary every month from the taxpayers for 2 and 3 terms for not doing their jobs….and doing very little or nothing while having the nerve to openly collect bribes from the minority criminals Maloney, Harris et al on the island too….

    Sorry…not one of them will get a pass, let them gauge that…evil criminals.

    The majority population should never trust any of them again.

    Like

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

    Every time taxes are raised, Fumble’s Fools project income based on no reactions in the economy.

    PURE FANTASY.

    When cost of goods increases, importers, wholesalers, retailers and consumers react.

    Depending on the supply chain timeline, these reactions take time to work through the system.

    The increase in NSRL netted income on GOODS THAT WERE ALREADY IN THE SYSTEM.

    Now that the system has adapted, the income will reduce significantly.

    EXACTLY LIKE EVERY OTHER TAX INCREASE FUMBLE AND HIS FOOLS HAVE IMPLEMENTED.

    It is no longer enough to call the BDS cabinet Fools, as catchy as the qualification may be. Not sure how to condense ‘lying, thieving, clueless, morons’ into a single word.

    Like

  • Isn’t it a very simple calculation to multiply 50×4 to forecast 200 mil?

    Like

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

    David October 12, 2017 at 6:58 AM #
    Isn’t it very simple calculation to multiply 50×4 to forecast 200 mil?

    Sarcasm and innuendo can be difficult in print………..

    But I think you pulled it off 🙂

    Like

  • Chaos on the plantation! God help us.

    Like

  • millertheanunnaki

    @ Tron October 12, 2017 at 9:15 AM
    “Chaos on the plantation! God help us.”

    You call it “chaos”.

    But we call it the inevitable outcome when liars talking from a Babel-like tower collude to fool the people.

    Numbers and facts are not used to provide light to show the direction to the Truth but are used by politicians and their hacks as statistics the same way a “drunkard uses a lamppost- for support rather than illumination”.

    Only the people can put a stop to this charade of conflicting lies by inserting earplugs and removing the waning source of misguided influence.

    Like

  • @Pacha
    Your extension has roots. At least the brekkin. This group has never been particularly cohesive, with known factions. They are true politicians, love to talk. I would expect vigorous personal efforts, albeit not necessarily on the same page, or the same book.

    @Blogmaster
    Your media issues are perennial and accurate. To raise financial matters as more important than others…..hasn’t the general approach to information release been consistent? Minimal and often contradictory.

    Like

  • As I said many times before, the new MoF will soon figure out that all the numbers about revenue, deficit, taxes, F/X reserves and NIS are made up. The article above is a clear example of the ongoing maskirovka.

    We cannot trust any official data or any outlook of local financial institutions. They are all part of the game. Just look at the E&Y outlook for 2017. Singing Sinckler´s song.There must be some conflict of interests at E&Y.

    Like

  • @ Frustrated B
    Every time taxes are raised, Fumble’s Fools project income based on no reactions in the economy.
    PURE FANTASY.
    When cost of goods increases, importers, wholesalers, retailers and consumers react.
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
    Cud dear, just when Stinkliar manages to get a grip on decimals, … you are expecting him to grasp complex multi-variable equations?
    Boss, you are talking about the ability to grasp integral calculus – with multiple inter-dependent variables impacting on the final outcome.

    If Bajans were not so overwhelmingly brazen in construct, we would long have worked out that these mediocre jackasses are way out of their depths. We even KNOW that some of them cannot even do simple multiplication – else we would have a stadium as we speak….

    The very IDEA of multiplying the $50M by 4 tells us all we need to know of the level of intellect leading us to damnation….
    …and the FACT that we collectively CHOOSE to continue merrily behind such RH brass bowls confirms CONCLUSIVELY …that we deserve EXACTLY what we will shortly be getting.

    Like

  • In a mature society, there would be citizens’ arrest of these idiots…and they would be tried, convicted, and sentenced to a minimum of 15 years in primary school …or until they are too old and decrepit to pose any further threat to our national life….

    Lotta shiite….

    …or we can just extradite them to the USA to join Trump’s band of millionaire morons….. and for good measure, we can send their shiite monument at the Garrison with them to be erected next to the Statue of Liberty….

    Like

  • Is it fair to say that the MoF is being guided or informed by civil servants? In this case the Accountant General?

    Like

  • informed?…yes.
    guided?…unlikely.

    Like

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

    Having spoken to several Central Bank administrators recently I can say that they are highly supportive of an IMF program and waiting as anxiously as the rest of us for DEM to be voted out so Mia can institute ASAP.

    Those particular civil servants are as anxious as we are to start down the path to recovery under the next gov’t.

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

    Like

  • Then the standin Governor of the Central Bank should be bold enough to recommend publicly.

    Like

  • Well Well @ Consequences Observing Blogger

    CDB recommended IMF program, today or yesterday….or they can as usual continue to live on fantasy island.

    https://www.barbadostoday.bb/2017/10/12/bite-the-bullet/

    Barbadians need not fear the Washington-based International Monetary Fund (IMF) as if it were the “boogeyman”, says Director of Economics at the Caribbean Development Bank (CDB) Dr Justin Ram. Speaking to Barbados TODAY on the sidelines of the Caribbean Tourism Organisation’s State of the Tourism Industry Conference at the Grenada Radisson Hotel, Ram today lauded […]

    Like

  • Well Well @ Consequences Observing Blogger

    ….The licences of four international businesses have been revoked…..

    who are those..

    Like

  • millertheanunnaki

    @ Well Well @ Consequences Observing BloggerOctober 13, 2017 at 7:37 PM

    It seems that there are now two Dr. JR’s proffering advice to this poor beleaguered administration.

    One is the real McCoy practising his skills in the world of economic realities; while the other is a qualified quack pissing academic hot air from his vacillatory ivory tower on the Hill while the workers NIS savings go up in smoke like a CLICO basket made of ‘faggots’.

    Which one will the Fountain of Wisdom & Commonsense bless as the minister of Failure for All Seasons called the Sinking Liar throws in his last coin made from fool’s gold?

    Will the real Dr. JR stand up and be branded “Foreigner” prophet from the land of doom and gloom?

    Like

  • Well Well & Consequences Observing Blogger.

    Miller….so where are the ñames of these companies…I hope the names are in the full Nation story, am sure the US had to force this..

    http://www.nationnews.com/nationnews/news/101278/bad-apples

    “Four international businesses yesterday found out the hard way that Barbados’ reputation will not be compromised.

    Their licences were revoked after being found guilty of engaging in money laundering and corrupt practices.

    This was revealed by Minister of International Business Donville Inniss, who told the SATURDAY SUN he had immediately acted on information received Thursday.

    “It has been drawn to the attention of my ministry that there are four licenced international business companies, for whom the beneficial owners have been found guilty of corrupt practices, money laundering and other illicit activities in other jurisdictions, namely, the United States of America. (RB)”

    https://www.barbadostoday.bb/2017/10/13/more-cctv/

    “More CCTV
    Approval given for police to purchase more electronic eyes

    Added by Emmanuel Joseph on October 13, 2017.
    Saved under Local News
    1Save
    As part of stepped up efforts to combat crime, the Royal Barbados Police Force (RBPF) is preparing to spend a quarter of a million dollars on the installation of new closed-circuit television cameras (CCTV) at Carlisle Bay, The City and along sections of this island’s west coast.

    The revelation has come from Chairman of the Tourism Development Corporation’s (TDC) Projects Committee Mark Thompson, who spoke to Barbados TODAY on the sidelines of this week’s TDC annual general meeting.

    “We have just approved funding to the police force for CCTV cameras in the Carlisle Bay area and also on the west coast, around the Holetown area. That is really an extension of what has been done along the south coast and in Bridgetown,” Thompson explained.

    “The police have noted that they have seen a reduction in crime in locations with these cameras and hence they would want to up the ante and now spread it across the west coast and the Carlisle Bay area,” he added.”

    Like

  • Well Well & Consequences Observing Blogger.

    “One is the real McCoy practising his skills in the world of economic realities; while the other is a qualified quack pissing academic hot air from his vacillatory ivory tower on the Hill while the workers NIS savings go up in smoke like a CLICO basket made of ‘faggots’.”

    The fact that the alter ego JR was there to oversee Cow ripping off the NIS Pension of hundreds of millions of dollars tells me all I need to know about that useless negro, Ph.Ds and a barrel full of degrees does nothing for them when they are mentally weak, have no backbone, no sense of self and never put their own people first.

    I have refrained about commenting on him before because I dont see how this generation of young, black supposedly well educated people could still be so dumb…outside of being miseducated all their lives.

    Like

  • Well Well & Consequences Observing Blogger.

    More importantly, will the convicted in Canada Dean Del Mastro’s license also be revoked and any alledged bribe money, one million dollars he paid to “two ministers” in the government returned to him….in keeping with the spirit of cleaning up foreign criminals and sweeping them off the island.

    Mind you, he can’t keep noise for that alledged bribe money, because under Canadian law, he can be arrested all over again by RCMP for alledgedly bribing foreign government officials, but I dont think his cousin was convicted in Canada, so the tangled web may still proceed….lol

    Miller…bacchanal..lol

    Like

  • Well Well

    I see there are certain things that you don’t know – bribe money is not refundable. The only satisfaction the briber would achieve is to put a hit out on the recipient. Quite frankly that suits me, he/she would be out of office as a result.

    Sent from my iPad

    Like

  • Well Well & Consequences Observing Blogger.

    Caswell…lol, lol…..suits me just fine too.

    We have to teach the ministers and politicians in Barbados to stop keeping secrets for white criminals,stop keeping white people’s secrets, even if they bribe you. those names of the 4 companies, their owners and directors should be public knowledge in Barbados to protect the population, but Dumbville thinks the names should be a secret, his secret…why….?

    Anyway, as long as ya are arrested and charged, it becomes a matter of public record in US and up for immediate release to the public, long before you are convicted…, so Dumbville, ya hiding information from the public….why…?

    Example:

    “Eastern District of New York
    You are here
    U.S. Attorneys » Eastern District of New York » News
    SHARE
    Department of Justice
    U.S. Attorney’s Office
    Eastern District of New York

    FOR IMMEDIATE RELEASE

    Friday, April 14, 2017
    Four, Including An Anti-Money Laundering Consultant, Arrested For Multi-Million Dollar Securities Fraud And Money Laundering Schemes

    The Defendants Planned a Pump and Dump Scheme and Sought To Launder $2 Million in Illegal Proceeds Through Offshore Accounts

    Four defendants were arrested today on charges of securities fraud conspiracy and money laundering conspiracy for their involvement in schemes to fraudulently manipulate the stock of BioCube, Inc. (BioCube), a U.S. publicly traded company, and to launder approximately $2 million in illegal proceeds using offshore bank and brokerage accounts. Since 2010, BioCube has purported to have a series of different business purposes, including, most recently, planning to market and distribute devices for detecting marijuana on a user’s breath. The charged individuals are: Chris Messalas, a former securities broker previously barred by the Securities and Exchange Commission (SEC); Boris Rubizhevky, the former Chief Executive Officer of BioCube; Michael Garnick, a Philadelphia-based attorney; and Dimitrios Argyros, an anti-money laundering consultant. Messalas, Rubizhevsky and Garnick were charged with securities fraud conspiracy. Messalas and Argyros were charged with money laundering conspiracy.

    Argyros was arrested at JFK International Airport after arriving on a flight from Cyprus via London, Messalas was arrested at his home in New York and Rubizhevsky was arrested in New Jersey. Their initial appearances are scheduled for this afternoon before United States Magistrate Judge Cheryl L. Pollak at the federal courthouse in Brooklyn. Garnick was arrested in Pennsylvania. His initial appearance is scheduled for this afternoon before Magistrate Judge Thomas J. Rueter at the federal courthouse in Philadelphia, Pennsylvania.

    The charges were announced by Bridget M. Rohde, Acting United States Attorney for the Eastern District of New York, William F. Sweeney, Jr., Assistant Director-in-Charge, Federal Bureau of Investigation, New York Field Office (FBI), and Kathy A. Enstrom, Acting Special Agent-in-Charge, United States Internal Revenue Service, Criminal Investigation, New York (IRS-CI).

    The Defendants:

    CHRIS MESSALAS
    Age: 50
    Staten Island, New York

    BORIS RUBIZHEVSKY
    Age: 66
    Closter, New Jersey

    MICHAEL GARNICK
    Age: 58
    Philadelphia, Pennsylvania

    DIMITRIOS ARGYROS
    Age: 50
    Ho-Ho-Kus, New Jersey

    E.D.N.Y. Docket No. 17-MJ-321”

    Like

  • Usually when the IMF and the other world bodies prepare reports with their findings advance copies notification is sent to the country.

    Extracted from FB:

    Will somebody tell this poppet that constraint cannot generate growth. Please and thank you.

    Image may contain: 1 person, smiling, text

    Like

  • Well Well & Consequences Observing Blogger.

    It’s the present governmeny been dismissing any reports prepared and published by IMF after their assessments, it’s only recently Sinckler admitted that the economy gets regularly assessed with suggested adjustments made by IMF..

    All along both Sinckler and Fruendel have ridiculed IMF, Moody’s S&P and Bloomberg as not knowing what they were talking about, like if either of them knew, now it turns out, as ministers of government, they themselves don’t know anything useful that could turn the degradation of the economy around, neither do the myriad university trained economists that infest the island…and never will.

    It takes a special talent and skill to move any economy in a positive direction.

    Like

  • Well Well @ Consequences Observing Blogger

    http://www.nationnews.com/nationnews/news/101327/imf-economy

    it will be interesting to see how Fruendel and Sinckler spins this, these agencies have seen many times before the destruction of economies when RAPED by presidents and greedy ministers in Africa, Haiti and other jurisdictions, when government led corruption reduces a country to ashes, they have seen those signs multiple times before and know them well….

    its now quite obvious that the unions and Herbert were right about those useless recovery plans of Sinkler`s…start packing yall bags…yall ran out of time..i am so glad.

    ….some local business people, politicians andministers should go to prison for these crimes against bajans…

    Like

  • Well Well & Consequences Observing Blogger.

    Miller….we have to review minister of fine ants’ name, it’s now SINKLER…..he sunk the islands economy, It needs it’s own post, the economic situation is now very dire….a wonder how the not going to IMF will work now, maybe they got a plan L.

    Since last week they knew this and not a word to the electorate.

    “Government’s most recent austerity measures have prompted the International Monetary Fund (IMF) to reverse its growth projections for the Barbados economy.

    Not only has the IMF revised downward its forecast for economic growth in Barbados this year, but it is even more pessimistic about the economy’s prospects in general election year 2018.
    The same goes for the financial institution’s prediction about consumer prices here. It expects inflation to escalate by the end of the year and worsen next year because of the fiscal measures introduced in the May 30 Budget.

    The IMF officially made the revision in its latest World Economic Outlook (WEO), released during last week’s annual meetings which also involved the World Bank. (SC)”

    Like

  • Well Well & Consequences Observing Blogger.

    And yardfowls have all gone blessedly silent.

    Like

  • In actuality Barbados experienced TWENTY-ONE (21) credit rating downgrades

    It seems as though the media forgot to include the Tuesday, December 16, 2014, Caribbean Information and Credit Rating Services Limited (CariCRIS), downgrade.

    Like

  • No confidence
    Added by Emmanuel Joseph on October 16, 2013.
    Saved under Local News
    Pin It

    The Parliamentary Opposition a short while ago told Barbadians it has decided to file a no confidence motion in Minister of Finance Chris Sinckler.
    At a news conference attended by members of the Parliamentary group, Opposition Leader Mia Mottley said the situation in the country had reached an untenable state.
    Mottley blamed the minister of finance for failing to bring clarity to his recent tax measures, for not acting in such a manner so as to bring back confidence in the economy and for not being more detailed with respect to fully explain what she said was the embarassing situation where government had to suspend a US$250 million bond issue on the international market for the financing of the deficit.
    The press conference is still ongoing.(EJ)

    Like

  • Well Well & Consequences Observing Blogger.

    They probably wont acknowledge or count that because it’s a Caribbean agency…

    Wuh if they cuss IMF, Bloomberg, Moody’s, S&P….who the hell is CariCRIS…lol

    And the yardfowls can’t come out.

    Like

  • What else do the DLP yard-fowls have to offer other than the tired and over used “mantra” of if Mottley has a LEC or if the BLP has solutions?

    And speaking of Mottley and the LEC, in June 2015, Attorney General Adriel Brathwaite committed his office to investigate whether or not Mottley eligible to practice law in Barbados.

    In October 2017, approximately TWO (2) YEARS and FOUR (4) MONTHS after, Brathwaite has been UNABLE to present the Barbadians the results of that investigation.

    But the comedy evolved into what could be defined as “political theatrics” when the DLP hierarchy at its 62nd annual conference, through George Pilgrim, mandated AG Brathwaite to investigate if Mottley is qualified to practice law in Barbados.

    After 21 credit rating downgrades, failed economic policies and an abysmal failure as Minister of Finance, George Pilgrim should be EQUALLY ENTHUSIASTIC to also ask Brathwaite to investigate if the bombastic Christopher Sinckler is qualified to be Finance Minister………….. and based on his “track record,” recommend he should resign.

    Like

  • Stuart !Sinckler!Robinson all on the same page. Not going To the IMF like beggars with cup in hand.

    Like

Join in the discussion, you never know how expressing your view may make a difference.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s