URGENT Message for Prime Minister Mottley

The conflict between Russia and Ukraine has entered its second month with the world bracing for supply chain disruption and price hikes. This comes on the back of the worst of the ongoing pandemic which the global economy is starting to recover.

As you are aware Russia and Ukraine between them are responsible for a significant supply of food and energy commodities. In addition, sanctions imposed by the West will add to the havoc on global trade for god knows how long. The blogmaster listened to the message you communicated to the region yesterday while speaking at the opening ceremony of the 2022 Caribbean Nations Security Conference at the Hilton Barbados Resort. There is no denying we have to brace for the inevitable fallout as the effect of the conflict starts to take hold.

Here is a what if scenario for your consideration.

What if Russia is successful in the implementation of a new global currency settlement mechanism that presents an alternative to the traditional system? This will have disastrous consequences for Barbados given our monetary system. Prime Minister, it maybe worthy of urgent consideration to lead a conversation at home and in the region the importance of hedging against such an eventuality. The blogmaster is aware it must be a difficult undertaking to lead a small island developing state given the severe challenges at play BUT to whom much is given, much is expected.

Sergey Glazyev a key player in the financial space with President Vladimir Putin

Sergey Glazyev is a respected Russian politician and a principal player in the financial arena of Russia for many years. In a recent interview he shared amazing insights you will not see highlighted in traditional media. Below is a snippet from the interview to support the importance of Barbados and the region looking urgently at repositioning our currency in the event an alternative settlement system should emerge.

Please read the following article translated from a Russian newsfeed which explains a disjointed flow in parts.

— How do you see the world after the disappearance of the dollar monopoly?

— We are currently working on a draft international agreement on the introduction of a new world settlement currency, pegged to the national currencies of the participating countries and to exchange-traded goods that determine real values. We won’t need American and European banks. A new payment system based on modern digital technologies with a blockchain is developing in the world, where banks are losing their importance. Classical capitalism based on private banks is a thing of the past. International law is being restored. All key international relations, including the issue of world currency circulation, are beginning to be formed on the basis of contracts. At the same time, the importance of national sovereignty is being restored, because sovereign countries are coming to an agreement. Global economic cooperation is based on joint investments aimed at improving the well-being of peoples. Trade liberalization ceases to be a priority, national priorities are respected, and each state builds a system for protecting the internal market and its economic space that it considers necessary. In other words, the era of liberal globalization is over. Before our eyes, a new world economic order is being formed — an integral one, in which some states and private banks lose their private monopoly on the issue of money, on the use of military force, and so on.

A snippet from the article relevant to the possible emergence of a new world settlement system which could to destabilize traditional banking system – Blogmaster

Credit: BU Contributor Pachamama

49 comments

  • “A snippet from the article relevant to the possible emergence of a new world settlement system which could to destabilize traditional banking system – Blogmaster”

    The Banking War Agenda was initiated in 2001 with US Global Banking Regulation Laws and Financial Reporting such as
    Patriot Act
    Anti-Money Laundering
    Know Your Client
    Proceeds of Crime Act
    Suspicious Activity Reporting

    Raised by Wolves Theme Song
    by Mariam Wallentin

    [Episode 1]

    The door that finally opens
    With light flooding in
    Spilling out on the floor

    The core that never was
    Now it will be

    The bones of
    What was there before

    Every step, every beat
    Every thought, every breath
    Everything is longing

    Every wind, every wave
    Every sky, every cloud
    Every grave is longing

    Pulling you from the sky
    Just like love will do

    Pulling you from the sky
    Just like love will do

    [Full version:]

    The door that finally opens
    With light flooding in
    Spilling out on the floor

    The core that never was
    Now it will be

    The bones of
    What was there before

    Every step, every beat
    Every thought, every breath
    Everything is longing

    Every wind, every wave
    Every sky, every cloud
    Every grave is longing

    Every step, every beat
    Every thought, every breath
    Everything is longing

    Every wind, every wave
    Every sky, every cloud
    Every grave is longing

    Pulling you from the sky
    Just like love will do

    [Episode 2]

    The door that finally opens
    With light flooding in
    Spilling out on the floor
    The core that never was
    Now it will be
    The bones of what was there before
    Every step, every beat
    Every thought, every breath,
    Everything is longing
    Every wind, every wave,
    Every sky, every cloud
    Every grave is longing
    Pulling you from the sky
    Just like love will do.

    [Episodes 3-5]

    The door that finally opens
    With light flooding in
    Spilling out on the floor
    The core that never was
    Now it will be
    The bones of what was there before
    Every step, every beat
    Every thought, every breath,
    Everything is longing
    Pulling you from the sky
    Just like love will do.
    Pulling you from the ground
    Just like love will do.

    Like

  • Mottley had a chance as the Chairperson of Caricom to unite and redefine Caricom I’m many ways
    But what did she do .she squander her position whilst dabbling in the internal politics of other small island regions
    Outside of the Barbados mentality other small island nations does not have short memories
    She placed her integrity at high risk
    Hard to belive that some of the head of govts would be inclined to follow her leadership

    Like

  • An interesting perspective on the role of the Central Bank taken from the article:

    “But there are nuances. The Constitution stipulates that the Central Bank conducts its policy independently, that is, it is independent of the government. But this does not mean that it is independent of the state. This is a government agency. Our judicial system is also officially independent of the government. Therefore, being an independent body, the Central Bank is nevertheless formed as a state regulatory body and must fulfill the tasks that are necessary for the development of our economy. To do this, it is necessary to involve the Central Bank in strategic planning. The classic theory of monetary circulation stipulates that the main goal of the monetary authorities, i.e. the Central Bank, should be to create conditions for maximizing investment. This is exactly what the banking system should do — maximize investment. Because the more investment, the more production, the higher the technical level, the lower the costs and lower the inflation, the more stable the economy.”

    Like

  • The role of big banks:
    ——————————

    — But why does the Central Bank of the Russian Federation, in your opinion, pursue a policy in the interests of the enemy?

    — As I said, he does this on the recommendation of the International Monetary Fund. But his interests are also shared by our large banks, which objectively like this policy, as well as our currency and financial structures, which are also involved in manipulating the ruble exchange rate. Therefore, an influential lobby is formed around this policy, which supports this policy based on its private interests. These interests run counter to the interests of the country, they are directly opposite to them. And if you look at what the Central Bank is doing today, I have no doubt that it is continuing its policy of pandering to the enemy. It undermines macroeconomic stability by allowing international speculators to manipulate the ruble exchange rate and does not control the currency position of banks that have become currency speculators, although the Central Bank could easily withdraw banks from the foreign exchange market by fixing their currency position, prohibiting banks from buying currency. And secondly, by raising the interest rate, the Central Bank actually killed investments in the development of the Russian economy, which are very much needed right now, primarily for import substitution and for restoring economic sovereignty, while our leadership says that we should not be afraid of sanctions, because they create conditions for economic growth, for import substitution…

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  • — What would you advise people to do? Now the main query in Internet search engines is where to invest money in the era of turbulence. What should people do?

    — First of all, do not make any sudden movements, I would say so. In any case, what exactly is not necessary — to run for dollars or euros. Because we don’t know what will happen to these currencies next. If our system is disconnected from the western one, then our banks cannot effectively invest dollars and euros anywhere, except in currency speculation. But I hope that our authorities will still curb the foreign exchange market…

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Yall late to the party, the gold standard is apparently already in play….and the monetary system, it is said, will evolve around that…

    Pacha would have much more information on how it will play out……..he is the best source to deliver the fine details..

    as it involves politics, i lose interest real fast….and won’t give it too much of my time.

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    People were warned early on NOT to get too distracted and involved WITH THE WAR…no one heeded because they were so FILLED WITH OPINIONS and missed the introduction of the new monetary system…lol,,,i did not even bother to say anything the day it rolled out…sick and tired of know it alls…..who now have to catch up..

    now they see what is really happening…..are yall crying yet? no you are not, but wait..

    Like

  • Reports from the financial market indicate the Rouble is stabilizing even in the face of increased sanctions.

    Like

  • @ David
    What if Russia is successful in the implementation of a new global currency settlement mechanism that presents an alternative to the traditional system?
    ~~~~~~~~~~~~
    WHAT IF??!!
    What ‘what if’ what??!!

    How long now has Bushie been saying that this is written in the stars? It was as inevitable as night follows day, and is now coming to pass.
    It was obvious to al-Gaddafi , Saddam, and others, but unlike them, Putin HAS weapons of mass destruction, and has signaled in Ukraine that he is prepared to use them.
    The idiotic ‘sanctions’ imposed by Biden is nothing but a self-inflicted shot in the foot with a bazooka….
    How Stupid!! An IN-DEBTED place whose ONLY current ’strength’ is the position of their useless dollar, applying ’sanctions’ on one of the biggest contributors to their survival..?
    “He who diggers a well……”

    Even more idiotic is a little shiite place like Barbados jumping up making ‘statements’ about issues that are WAY beyond our pay grade.
    If you CANNOT fix your own little shiite economy, legal system, senate, health system, education, agriculture… NOTHING – what the hell are you doing ‘advising’ on global matters of epic magnitude? ..at least keep your brass bowl closed.
    Then you have this American General here for some exercise ‘Praising’ Caribbean leaders for condemning Russia.

    When they were destroying Iraq, Libya, Afghanistan, Panama, Venezuela, Chile, etc etc etc, where the HELL was the outrage from Barbados and the Caribbean….?

    We too are ‘digging our well’ by aligning ourselves with CLEAR losers….

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    “Even more idiotic is a little shiite place like Barbados jumping up making ‘statements’ about issues that are WAY beyond our pay grade. If you CANNOT fix your own little shiite economy, legal system, senate, health system, education, agriculture… NOTHING – what the hell are you doing ‘advising’ on global matters of epic magnitude? ..at least keep your brass bowl closed.”

    didn’t know shit, still don’t, but anxious and excited to keep up the world stage facade…

    i got told off on BU to letting them know they are out of place, to mind their own business, even though they can’t even fix anything in their tiny ass island………..now they SEE that egg has no place at rock stone dance…lol…

    Like

  • @Bush Tea

    The simple minded among us have been focused on the conflict between Ukraine and Russia it like you said this is another attempt to challenge the establishment. Didn’t the blogmaster warn you that blockchain technology will be integral to alternative strategies?

    Like

  • Where there is no vision the people perish
    How many times have this scenario played over and over again
    The leaders expect the people to be civil and go along with the suffering
    One day coming soon they will be hell to pay
    Years of wastage and squander by govts has led these small island nations into the bowels of hell with no way out

    Like

  • de pedantic Dribbler

    @The Blogmaster, re “Didn’t the blogmaster warn you that blockchain technology will be integral to alternative strategies?” … But that is true not NOW because of the Russia/China initiative … the crypto currency component of blockchain tech is a major reset of world banking and money management and will upend everything and everyone.

    According to @BushTea and @GP this is all ordained and thus ‘what will be’ will be’ so there is little reason to ‘prosecute’ the timing re the implementation of this new interchange ‘switch’ .. But I can only define or ‘understand’ these matters based on current events as I am quite unschooled in their prophetic wisdom, thus I am quite ‘impressed’ that Putin could coordinate matters so very effectively to bring forth his and China’s new interchange system during this war he initiated.

    It would almost seem that he had things nicely planned in order to effectively combat the sanctions he anticipated would be imposed on Russia. How supremely masterful!

    Realistically tho, for those who have serious skin in the game (and don’t see a nuclear holocaust or rapture in the near future) it’s reasonable to look closely at gold and other hard assets (like cash) which have supposedly lasting value because this blockchain tech will cause major headaches before it becomes manageable at any level of ‘Central Banking’ guidance. Lots of people will make lots of money and lots of them will get scammed too..

    For all the awesome security and inherent controls of the algorithmic cryptology behind the tech there are yet ways that have been used to ‘crack’ into data. But that’s not even the main problem rather it will be issues surrounding the manipulation by online players … in short the one or two crooked (savvy) ‘Libor’ manipulators of the hard currency world will increase to potential thousands who will try to game this system in various ways.

    So yes for small economies like Bim we surely need to understand and be on top of this game but just as surely we will still remain Lilliputians in the world of big maguffy giants.

    Liked by 1 person

  • @Dee Word

    The meaning of the comment is that the move by Russia to create an alternative global settlement arrangement is using blockchain technology. It was specific to the ongoing saga. Also blockchain technology as far as the blogmaster has researched is not fully integrated in traditional financial system.

    Liked by 1 person

  • @ Dribbler
    “According to @BushTea and @GP this is all ordained and thus ‘what will be’ will be’ …”
    ~~~~~~~
    Bushie has no interest in ANY arguments with you or anyone else..
    However, for the record, the fact that something can be PREDICTED or FORESEEN is different from it being ORDAINED.

    A wise teacher once told Bushie “If you don’t stop playing the ass, you will end up as a beggar”.
    Bushie saw that as a visionary reality by the wise teacher, given the then trajectory.
    Suffice it to say that Bushie has never begged for a single shiite…on his NEW trajectory.

    A dribbler may have accepted his ‘ordained’ fate and meekly resigned himself to taking lukewarm positions on BU.
    …but not stinking Bushie.

    Like

  • Did Gaddafi not try similar and look what happened to him. Barbados and the Caribbean should pay attention to the African proverb that says “When elephants fight, the grass gets trampled” or something along those line.

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  • @FearPlay

    It is for the reason you stated Barbados needs to critically examine its position. Our dollar is pegged to the USD in case you have forgotten.

    Like

  • I agree with Africa When a 30 yr old bajan woman can be a granddaughter, daughter, mother and grandmother all at the same time maybe bigger countries might not take your advise on fixing things.

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  • de pedantic Dribbler

    re “A dribbler may have accepted his ‘ordained’ fate and meekly resigned himself to taking lukewarm positions on BU. …but not stinking Bushie.” You are a very amusing guy @Mr BushTea!

    You have this lovely ability to coin words that resonate wonderfully and ‘lukewarm’ as a reference to my views is such. I can’t ever recall being described like that at any age – headstrong, opinionated maybe – so I am truly bemused that you find anything I scribe to present as neither hot or cold or left or right but just meanderingly ‘lukewarm’.

    There is another guy who has a similiar propensity with ‘nicknames’ and coining words as you do but he is not as amusing as you tho. I make that reference because clearly given half the opportunity he had, you would clearly be as devastatingly problematic!

    Or rather than such lukewarm terms maybe I should say you would be a real stinking, brass-bowl bashing, BBE thumping, sometimes misogynistic, smart-ass despot too! 😒 Be safe … definitely amusing @Mr BushTea!

    I gone.

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    The problem am having is why has it taken this long for them to realize what is really happening here…when it was everywhere that people access accurate information..it was not hidden.

    ..and were warned from early that there was much more to what they kept expounding on and distracted with…even Pacha mentioned it briefly in his post while it was being put in place…

    Like

  • de pedantic Dribbler

    Oh BTW @BushTea, no argument… but … “However, for the record” don’t YOU play word games too.

    If “something can be PREDICTED or FORESEEN” as determined by a RELIGIOUS authority then it is “ORDAINED”.

    Very simple!

    Like

  • Critical Analyzer

    @FearPlay April 7, 2022 11:20 AM

    Putin in Russia is not a small potato than can be invaded or sanctioned out of existence like Gaddafi in Libya was and all the small fry countries that tried to go to gold backed currency. Between Russia and Ukraine, they supply a sizeable chunk of the natural gas used in Europe, wheat and chemical fertilizer used throughout the entire world.

    When the world decided to sanction Russia cutting them off from their money reserves in foreign banks and the SWIFT to prevent them from transferring money, they started cutting their own throats with Europe in the lead trying to sanction Russia.

    If the world refuses to buy rubles or send gold to Russia for their oil, natural gas, fertilizer and wheat, the Europeans will start to freeze without the natural gas they use for heating and a major food shortage will be coming once farmers stop planting because the fertiliser is unavailable or too expensive to make a profit.

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Well the back and forth has started in earnest, you expel me, i will blacklist you and everyone around you….we have been watching this play out for over a month and it’s escalating rapidly and no one is taking any prisoners in that power play…

    Black people were warned for years, Pacha wrote articles, based on what i know, warnings were issued, but they love to be in the middle pretending they are players and love to jump and take sides, with useless opinions that can change nothing, let them take what they get now…….

    some got warnings in other jurisdictions and heeded it RIGHT AWAY within days the necessary changes were made…those are the intelligent ones…

    Like

  • Courts have a funny way of ruling.

    While we wait on the Court of Appeal here to decide the constitutional motion we are treated the this decision out of the American courts.

    The defendant against whom the whole might of the Department of Justice was arrayed, represented himself and won!!

    https://www.politico.com/news/2022/03/07/judge-obstruction-charge-jan-6-defendant-00014843

    Like

  • de pedantic Dribbler

    You know it’s interesting – not surprising tho – that you @John Fellow who boldly supports a man who spews alternative facts daily would claim that “The defendant against whom the whole might of the Department of Justice was arrayed, represented himself and won!!

    Like many others I have followed the various trials with interest and initially I though your post was about the rioter who was recently acquitted when the judge ruled that the man’s conduct was “about as minimal and not serious as I can imagine” after the man “claimed that he thought the police had allowed him into an entrance near the Capitol Rotunda on Jan. 6, 2021.” The judge said that based on the evidence presented that the claim was at least “plausible”.

    But that is NOT that case atall.

    Anyhow, your assertion in this particular case re the man representing himself is basically FALSE. But what’s new in this crazy world of alternative spin.

    Not to mention that a constitutional case going to appeal is absolutely very different from a criminal trial at first instance… SMH!!

    Like

  • @ Critical Analyzer April 7, 2022 12:55 PM
    (Quote):
    If the world refuses to buy rubles or send gold to Russia for their oil, natural gas, fertilizer and wheat, the Europeans will start to freeze without the natural gas they use for heating and a major food shortage will be coming once farmers stop planting because the fertiliser is unavailable or too expensive to make a profit.
    (Unquote).
    ++++++++++++++++++++++++++++++++++++++++++

    Well put, CA!

    So what would the Western world do but give in to the grand design(s) of Vlad Putin the despot!

    The very source of energy required by the Europeans (especially the manufacturing giants like Germany) to maintain their currently dominant form of “civilization” contains the very seeds for its ‘own’ self-destruction.

    Global warming will put paid to any hopes of maintaining industrialized economies based on fossil fuels.

    It took Mother Nature hundreds of thousand of years to remove carbon from the atmosphere of the planet Earth and store it underground so that human life can exist but less than 300 for humans to return it to the same atmosphere in the form of the burning of fossil fuels as a source of power and heating.

    What a vicious cycle called LIFE!

    Liked by 1 person

  • francis drake, edwin drake that name hasnt been kind people I guess when you see a drake coming …duck

    Like

  • Question
    What is it about Brass tacks host that attracts them to govt into hiring them for official govt jobs
    Now out of the Brass tacks box a name is being mentioned of Dr. Kristina Hinds for a Senate seat
    All can remember Hinds as standing firm against the PM seeking an unconstitutional position as an offer to the Dlp for two Senate seats
    As it stands now the push back against the PM offer seems to have been given a resolution in the hands of the President and rightfully said and done

    Like

  • Also.this I say
    Thanks to the Independent Senators and the.unrelentless push back against the PM offer the power of the Constitution stands as was intended and not transferred into the hands of the PM
    Truth always rise from the ashes no matter how many times it.has been burnt to the ground

    Like

  • The Madness begins 🌀
    Marvel Studios’ Doctor Strange in the Multiverse of Madness | Dream

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  • When did the “PM sought an unconstitutional position as an offer to the Dlp for two Senate seats?”

    I recall, during a media conference, Mottley said the Constitutional Amendments Bill would have been debated in the Lower House on Tuesday, February 8th, and the Senate on Wednesday, February 9th.

    We all know what happened after those amendments were tabled in the Senate.

    Then, please explain

    Like

  • If memory serves correct the dlp turn the offer down because of PM interference
    Also this I say the PM knowningly turn a simple issue into a political football with her political mouthings
    There was no need for her involving herself in already constitutional matter that was rectified by the Constitution
    What now seemed as genuine has exposed the PM nefarious political games those which were dangerously played and placed against the rule of law

    Like

  • I am beginning to wonder if Mia was not being smart wicked when she made the offer.

    Nah. That could not be.

    That would demonstrate a complete understanding of the arrogance and ignorance of the DLP leadership.

    Like

  • This was the best outcome for Mia. If she makes a major goof, the DLP’s response does not rise above the level of Joe Public
    The have no ‘official position’

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  • I trust our Supreme Leader without limits. She will show us the way to a glorious future.

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  • RE I trust our Supreme Leader without limits. She will show us the way to a glorious future.
    WHY DONT YOU HOLD YOUR BREATH FOR THAT TO HAPPEN YUH IDIOT
    HOW CAN WE IMPROVE AS A NATION WHEN WE HAVE CITENZRY OF THIS ILK?

    HERE ARE 100 SCRIPTURE VERSES THAT CLEARLY TEACH THAT THIS IDIOT IS AN IDOLATER AND BLASPHEMER
    AND THAT WE ARE NOT TO PUT OUR TRUST IN EITHER MEN OR WOMEN
    Ihttps://www.openbible.info/topics/put_faith_in_god_not_man

    Like

  • Another OLD Bajan company sold to non Barbadians.

    Broad Street staple sold

    By Maria Bradshaw mariabradshaw@nationnews.com
    Collins Ltd, the largest and oldest pharmaceutical distribution company in Barbados, is changing hands.
    The Saturday Sun was reliably informed that Trinidadian firm Smith Robertson & Company Ltd, the leading pharmaceutical and personal care distributor in the twin-island state, has bought over Collins, which has been in operation in Barbados for 134 years.
    Collins, a wholesaler and retailer of pharmaceuticals, toiletries and cosmetics, is one of the few remaining original Broad Street businesses and still carries the blue sign “Collins Limited Pharmacists Est 1888” emblazoned across its front door.
    It also has a warehouse and wholesale store in Warrens, St Michael, and owns Carlisle Laboratories, which manufactures and distributes pharmaceuticals. That has also been sold to Smith Robertson.
    Collins is owned and operated by the Bourne family, with Peter Bourne as chairman; Gina Bourne as director; Geoffrey Bourne, director and financial manager; and Richard Bourne, director.
    Sources said the pharmaceutical company closed its doors at all locations for a couple of hours yesterday as the chairman held meetings with the more than 200 staff members to inform them of the development.
    Smith Robertson, which has been in operation in Trinidad since 1884, officially takes over in July.
    “We were told that the status quo would remain the same but it was up to the new owners to decide about staffing and the way forward,” an employee disclosed, adding that some staff expressed an interest in being severed.
    When contacted, director Geoffrey Bourne stated: “I have no comment. I have been hearing the rumours too and I have no comment at this point in time about anything.”
    Sources said Collins controls 70 per cent of the local drug distribution market and apart from providing pharmaceutical services at its pharmacies in Broad Street and Warrens, it also provides pharmaceuticals, hospital supplies, food, bulk drugs, medical equipment and veterinary
    products to several health institutions in Barbados, including the Queen Elizabeth Hospital.
    According to Dun & Bradstreet Corporation, a United States company that provides commercial data, Collins has 270 employees across all of its locations and generates US$38.13 million in sales annually.
    In 2015, Peter Bourne was presented by the Barbados Association of Medical Practitioners with the Award of Merit for Outstanding Commitment to CME (Continuing Medical Education) in recognition of his service to the fraternity as a strong financial sponsor and supporter.
    During the presentation, it was noted that Bourne joined Collins in 1957 where he worked in the warehouse, at the front counter, as a drug store salesman and then medical representative. He was the driving force behind the formation of Carlisle Laboratories Ltd in 1961, a firm that has been a net earner of foreign exchange from its inception, exporting more than 80 per cent of its production.
    His many positions held include: chairman of Collins Ltd and Carlisle Laboratories Ltd; director of Lambou Investments Ltd and Coem Ltd; member of the steering committee, chairman of the Pharmacy Council; and previous president of the Barbados Pharmaceutical Society.


    Source: Nation

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Soon the island will own NOTHING….as predicted.

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  • Barbadians are in deep doo doo
    The hills and fields are no longer yours
    Just wait till the promised if 80 thousand or more immigrants land on our shores
    A promise which was made by the PM
    Along with the hills and fields Parliament would be on sale as well to the highest bidder with loads of cash and ability to buy Citizen by passport

    Like

  • A case of severe lack of confidence by the market. If Barbadians are not investing it is only a matter of time before created means are determined to attack cash balances.

    Bid to raise another $125m
    By Shawn Cumberbatch shawncumberbatch@nationnews.com
    Just one week into its new financial year, Government is making a fresh bid to raise another $125 million from bond investors.
    The new 4.25 per cent treasury note 2027 offer comes three months after Central Bank Governor Cleviston Haynes reported a “modest” initial takeup of another $125 million issue of Government securities launched in November last year.
    Government budgeted in its 2022/2023 Estimates of Revenue and Expenditure that it will have an $867.6 million gap to fill over the next 12 months.
    In addition to $466.1 million in foreign financing, the Mia Amor Mottley administration has budgeted that the deficit will be funded by $401.5 million in domestic financing, including the $125 million treasury note.
    On Thursday, the Central Bank issued a notice announcing the new treasury note offer on that day, adding it will be “will be issued at par with a fixed interest rate of 4.25 per cent per annum payable on July 6, October 6, January 6, and April 6 of each year”.
    As with the November 2021-issued 4.25 per cent Treasury Note 2026, the four-page prospectus for the new bonds, which are scheduled to mature on April 6, 2027, said the money was being raised “to assist with the financing of the economic recovery from the COVID-19 pandemic .”
    “The Barbados Government has recently received an allocation of Special Drawing Rights (SDRs) equivalent to $261.6 million by the International Monetary Fund (IMF), as part of a special purpose issuance to help all IMF member countries support their economic recovery from the COVID-19 pandemic,” the document said.
    “Unlike the SDRs provided to the Barbados Government as part of the 2018 Extended Fund Facility agreement with the IMF, the 2021 special purpose SDR allocation does not need to be repaid. These funds are currently held by the Central Bank of Barbados as part of its reserve assets.”
    SDR resources
    The Central Bank added that “consistent with the purpose and intent of this SDR allocation and the provisions of the Central Bank of Barbados Act for exceptional funding to Government during a
    public emergency, the Central Bank of Barbados may use part of these SDR resources to support this Treasury Note issuance via the primary market.”
    It said that the new treasure notes “will be in denominations of one thousand dollars or a multiple thereof” and that the securities are eligible for trading on the Barbados Stock Exchange.
    It also said that the interest due to pensioners 60 years and over residing in Barbados will not be subject to withholding tax.
    “Non-residents seeking tax exemption must satisfy the Revenue Commissioner of their status before exemption is granted. However, for all persons resident in the island, the interest from these Treasury Notes will be taxed separately from other income at a rate not exceeding 15 per cent,” the bank said.
    “The Treasury Notes will be repayable at par in ten equal instalments commencing on January 6, 2025 with the final instalment on April 6, 2027. The issue will remain open until the Central Bank advises that it has been fully subscribed.”
    The Central Bank has not indicated that the previously-launched $125 million bond offer has been fully subscribed.
    Haynes said in January that about 25 per cent of the bonds, about $31.2 million, was bought by some financial institutions and individuals.
    He called the initial sales “modest, reflecting ongoing concern of investors”, and said his institution recognised that the market may not yet be fully ready to get back into those investments.
    “The take-up as I understand it has been mixed. Some of it has been from other financial institutions and some of it has been from individuals,” he said.
    The Central Bank can purchase some of the treasury notes if they are not fully subscribed.

    Source: Nation

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  • Radical case set for next March
    The case involving the failed delivery of the US$10 million COVID-19 vaccines to Barbados and St Lucia will be heard in the United States District Court Southern District of Florida next March.
    Judge Aileen Cannon, who for the past several months during a pretrial motion heard claims and counter claims from plaintiff Radical Investments, a company owned by prominent Barbadian businessman Mark Maloney, and defendant Good Vibrations Ltd. a US company owned by Alex Moore, set a jury trial for March 13, 2023.
    The judge also notified both parties of a strict calendar of events which must be adhered to beginning from April 29, 2022, through to February 2023.
    Maloney filed a lawsuit claiming that he was lured into an elaborate US$10. 2 million scam when he tried to procure one million doses of the AstraZeneca vaccine for Barbados and St Lucia through the US-based Good Vibrations Ltd.
    In the motion, Maloney
    outlined how he was introduced to Moore in March 2021 as someone who had the ability to secure the vaccines.
    The price was set at US$10.2 million. A commission of $2 million was to be paid to Good Vibrations upon delivery of the drugs to Radical Investments.
    Around April 27, 2021, Radical Investments released the US$10.2 million based on assurances received from Moore’s attorney but the vaccines were never received. Radical Investments managed to get back about US$5.4 million of its initial deposit, leaving approximately US$6.7 million in arrears.
    So far Radical Investments has been awarded a US$2 million default judgement against defendant Moniladai Coley and her company Prestige Pegasus, who was supposed to act as the intermediary for securing the vaccines.
    Maloney has never spoken publicly about the matter but Prime Minister Mia Amor Mottley assured Barbadians that even though Government was aware of the plans to secure the vaccines, it never advanced any money. (MB)

    Source: Nation

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  • US lawmakers due in Barbados
    By Tony Best Delegations of key United States (US) lawmakers who are due in Barbados later this month for talks on crucial financial issues will have more on their collective minds than the war in Ukraine and the fallout from skyrocketing inflation.
    Word of the planned trips to the world’s newest republic first came from unnamed sources in Washington DC, but it was later confirmed by Noel Lynch, Barbados’ top diplomat there, who told the Sunday Sun he will participate in the deliberations between the lawmakers and the Mia Amor Mottley administration.
    “Yes, I have been invited to join the discussions about our planned way forward and about the challenges we face when it comes to our social and economic development,” said Lynch, a former Cabinet minister in the Owen Arthur Government. He has been Ambassador to the US and Permanent Representative to the Organisation of American States since 2018.
    “The visits by the two Congressional delegations are going to overlap,” Lynch said.
    He explained that two key issues on the lawmakers’ agenda were de-risking and correspondent banking relationships, issues which CARICOM Heads of Government have identified as crucial to doing business with the US.
    One US delegation is to be led by Congresswoman Maxine Waters, considered by many analysts to be one of the most powerful women in American politics today. As chair of the House’s Financial Services Committee, Waters has been described as influential, fearless and erudite. She is also considered pivotal when it comes to the enactment of legislation designed to monitor Wall Street.
    The second is being headed by Representative David Price, a Democrat who represents North Carolina’s Fourth Congressional District.
    Bank talk
    Lynch said US banking executives and members of the American Bankers Association were likely to join the talks.
    “The elected representatives really want to know if the de-risking and correspondent banking issues are still affecting our ability to carry on business and financial transactions, both of which are crucial to our development,” he said. “We met with Congresswoman Waters in 2019 (in Washington) and discussed the action which the Caribbean can take to make correspondent
    banking arrangements work to our mutual advantage. They are going to be in Barbados to see first hand how these issues are being addressed.
    “The first delegation is going to be in Barbados from April 19 to April 22 and we are expected to discuss some of our economic and social development challenges. The members of Congress are also going to have a first hand view of developments in our countries in the region.
    “We want to discuss some of our challenges outside of the correspondent banking issue and de-risking matters. We want to discuss how the US can assist us in grappling with some of our concerns about development at this time of COVID-19 and climate change. We welcome the opportunity to show the House members how we are approaching the issues involved.”
    Both Waters and Representative Barbara Lee are from California who belong to the Congressional Black Caucus, the group of about 50 Black elected officials in the Senate and House.
    Lee, a long-time advocate for the Caribbean on Capitol Hill, was the driving force behind the enactment of federal legislation which designated June as Caribbean Cultural Month across the US.
    Interestingly, she frequently describes the late Congresswoman Shirley Chisholm, who spent part of her early childhood years growing up in Barbados, as a major role model as a black woman and lawmaker.
    “We are looking forward to the deliberations in Barbados. We expect them to be productive and meaningful,” said the Ambassador.


    Source: Nation

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  • Where’s the constitutional reform, asks former DLP president – Where’s the constitutional reform, asks former DLP president:

    https://barbadostoday.bb/2022/04/12/wheres-the-constitutional-reform-asks-former-dlp-president/

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  • That is what happens when a table for good governance is not laid out
    But rather a footstool borne of legacy and political self interest
    Verla is right in asking the pertinent questions
    However asking a little to late since the damages have been done

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  • The Boss lady in action

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  • More symbolism that is all barbadis will get from these long exhausted trips between these high ended officials
    Where are the gains from all these trips which by now would have at least lead to productivity and progress
    Oh yeah Mia did promise trees being planted in the garden from foreign soul
    OK another tree planted
    So what

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