…sources supports the view that a number one goal for the big money ‘players’ in Barbados is to craft ways to grow overseas bank accounts.
Very recently the blogmaster overheard veteran journalist David Ellis on the airwaves imploring Barbadians to ‘up de ting’ if we are serious about wanting to hold the political directorate accountable. He asked, [paraphrased] why are we satisfied with switching from BLP to DLP every other election cycle with the same problems brought forward unsolved and getting worse.
The truth, there is a humdrum and predictability to public debate in Barbados. The result is that the establishment will never be challenged to change the way it operates. What has become clear is that people power in Barbados is virtually non existent. We bicker and complain but lack the know-how to ‘package’ our discontent to that of people power.
In recent weeks the Savvy on the Bay affair has raised more questions than answers with other concerns adding to the mix. It is clear the public is being fed stories from different sides of the matter and to date Allan Kinch seems to be winning in the court of public opinion. There was a deal and now there is no deal – why has the Planning and Development Department (PDD) ignored Kinch’s application? Why has Kinch proceeded to alter the property without PDD approval? The blogmaster is not so naive to believe Kinch of Savvy on the Bay comes to the table with clean hands. He is a player.
The blog ‘Players’ laughing at we resulted in a few messages received in the blogmaster’s inbox sharing information about the obscure world how ‘players’ in Barbados wheel and deal with the goal of secreting foreign currency outside of Barbados. Bear in mind Barbados has been selling the family silver for years to bolster our foreign reserves, and in recent years have restructured foreign debt and signed on to IMF assistance at great economic and reputational sacrifice to the country. It is nothing short of criminal how these players – facilitated by the political directorate – are able to financially rape Barbados. This is one of those stories traditional media is too timid (bought) to touch.
Information received from good sources supports the view that a number one goal for the big money ‘players’ in Barbados is to craft ways to grow overseas bank accounts. It is recognized that offshore shelters like Cayman, Cook Islands and freeports are popular with the rich and famous. The blogmaster understands Cayman is popular with the local players.
What are plays in the playbook?
One example – a player borrowed $5 million to purchase a property. The price seemed reasonable but the conveyances showed the property was purchased for $3.8 million. The player (purchaser) then had the means to pay bills for overseas players by loaning money to entities in Barbados and being reimbursed to an overseas account. This an other transactions were facilitated by brand name lawyers. The example was sanitized to protect parties involved.
The more popular example is that a local player pays bills locally for an a player that resides overseas, the overseas player deposits foreign currency to an account overseas in the name of the local player.
The blogmaster is hopeful that in the near future the names of a few players can be mentioned supported with ‘evidence’ to support.
And you wonder why most properties on de island for sale are listed in USD of UK funds
@ David
What you have outlined is the tip of the iceberg. The USA in 2014 started to crack down on Cayman after arresting 3 major banking executives who were laudering money in Cayman. I will look for the case and send it to you. This sent the fear of God through many in Cayman with some there going on to report to the USA other offenders. Some however decided to go another road and state that WE DO NOT ACCEPT DEPOSIT FROM AMERICAN CITIZENS OR RESIDENTS.
Now this is where it gets interesting and we need to worry. In 2020 the USA again advised the Cayman Banks that they were aware of several parties who fled US jurisdiction and are now in Cayman who need to be dealt with. Nothing was done and the USA then came up with a different approach. They would target entities and persons directly. So Let’s say you were banking with one of these Cayman entities and doing business in the USA legitimately, they would come at you that way. We all know uncle Sam has a long reach after all look at how they went after a Trinidadian and poor Uncle Don!
https://www.ethicalinvestigator.com/us-authorities-target-cayman-islands-in-money-laundering-sting/
Lord I hope none of the $40 million that the NIS got permission to invest overseas don’t end up in no Cayman entity. I can’t afford to lose my little pic to nobody.
So, what’s new in Barbados? Corruption is rife. Corruption is unsustainable, even more so on a 2×3 rock. Those who do their laundry in the Caymans never get the dirty laundry exposed in Barbados.
You got names to publish, David? And then what?
@Donna
One card the people have is name and shame, it helps. Many of these players operate in the shade and detest bad publicity.
Makes you wonder who you can trust.
These players been doing this long time and make it look so easy
Wonder where the money come from to buy the Bay Street property. The developer fighting real hard
That business is all cash and US cash too. That probably doesn’t get deposited here but in accounts overseas.
@ Cherry
This is something all Barbadians should be concerned about. How come some can move millions clearly not going through the Central Bank and other lesser mortals need to apply for small amounts to travel?
They clearly are 2 Barbadoses one for the haves and the other for the have nots. As Donna says above you have to know which laundromat to use. Lol
Here is what Bushie cannot get understood…
Everyone knows of the many corruption allegations and the rumors…
It is IMPOSSIBLE for relevant information to be kept secret in Barbados, ..place too small, people too malicious, gossiping too rampant…
THEREFORE, how can it, not only persist for so long? ..but seem to be expanding greatly?
What legitimate reason is there for persons to choose to hold their money in a jurisdiction that is known to be a haven for money laundering?
Why don’t our authorities request such reasons from such persons (who they MUST SURELY know) and publish this info so as to END the rumors?
Why don’t HONEST public servants whistleblow on such activities in an effort to root our the corruption?
…so many questions…
Only one answer – greed, selfishness and brassbowlery.
Shiite Boss!
Looks like it is all up to you yuh!!
@Bush Tea
The information is not secret but those who can prove it are intricately party of the problem. Take Maloney for example, everybody knows how he operates with the planning department and co-opting the support of members of the political directorate. Minister Duguid with is current responsibility has become a very powerful man.
Getting back to the Savvy issue the PM said that they were mistakes made with the surveying of the plots with relation to the high water mark therby giving Savvy more land than he should of gotten.
This to be fair to Mr kinch was nothing to do with him. The surveyor in question, I believe his name was Mr Ken Ward, would have been working for the BTII and not Mr Kinch. One can only assume this surveyor would have been one BTII would have used before and would never have worked for Mr Kinch in the past or present anyhow, as this would have created a serious conflict of interest for all the parties involved and would in fact bring the legitimacy of the entire survey into question. One can not therefore accuse Mr. Kinch of benefiting from this mistake based on any survey errors.
We must try to discuss this matter rationally and stick to the facts as we know them.
Mr Ward has worked for Mr Kinch and many surveyors know the Kinch family as Mr Kinch’s father was also a surveyor. Small Island so these things happen. Despite the above Mr Ward was yes hired by BTII and gave the instructions to Mr Ward and I have several emails confirming this from Mr Ward.
The agreement of itself from BTII to Mr Kinch states that new plans would be done to HIGH WATER and the surveyor to point on the line marks to the purchaser.
What is most unfortunate is the government seems intent to bully Mr Kinch and not correct their own mistakes and compensate Mr Kinch if indeed errors were made.
In Feb of this year I sat in a meeting at BTII where I was told that their own lawyers had told them that the Government had made errors in the subdivision and so all of the land should rightfully be vested in BTII and therefore belong to Mr Kinch. BTII even had to get the boats and trailers moved from down where the big tent and food trucks are to give Mr Kinch Vacant possession so their intent was to sell ALL of the land.
@ John A
What makes you feel Kinch and Mr Ward never work together before ?
@ Cherry
I can’t see that happening at all and this is why.
BTII paid Mr Ward as THEIR SURVEYOR. If he had done, or is doing any work for Mr Kinch he would of had to declare a conflict of interest and told BTII “while I have worked for you before I can not represent you on this survey due to a conflict of interest.” Any board worth it salt would of given Mr Ward a Decleration of Conflict Form to sign, wherein he would of stated YES or No and signed his name, as is done in the USA and the UK.
Further to that there is no way Mr Kinch would of allowed Mr Ward to act as surveyor on this case if he did or Is doing work for him, as he would of also told BTII “Mr Ward works for me and hence we need to find another surveyor here to avoid conflict claims going forward.”
None of these seasoned business people, being either the seller or buyer, would of allowed this to happen, as it would of been a serious conflict of interest and could infact bring the entire survey into question. Especially on a delicate issue like this one they would all of known better. I know I will be accused of defending Mr kinch now but I am just saying this could not have happened.
Can’t remember exactly which group from the 1970s sang the very popular ” ball of confusion, that’s what the world is today, evolution, revolution,……….”
it was either the O’jays, Stylistics, Temptation, or any of those world class groups…and that was nothing compared to today, we were broke, knew nothing, weren’t supposed to, but broke ourselves out of that, despite the vile politicians, and certainly came a very long way..
Googled it, was the Temptations.
On the Savvy matter
But I have demonstrated that the areas given in square feet and in square meters are inconsistent. The survey is not worth the paper it is on.
It is difficult to believe that mistakes of these types are purely accidental. We the common man trust the experts to deliver quality work and not to defraudvys
@BT
On point.
These folks will never look in the mirror. They claim the mirror lies.
@ John A
I really got to go serve my Sunday lunch but I find you sound a bit naive for someone so smart
These players don’t think about right or wrong. They only looking at lining their pockets.
People like that take every opportunity to score a dollar. They risk for the big pay off.
Greed, ego and the chance of getting away with whatever the prize is, is what drives them.
I don’t know how some of dem sleep at night
@ Cherry
Wow if what you and Theo are saying happened, then this would shed a whole new light on the legitimacy of the sale. Will have to now wait and see what card the AG plays next. Maybe that is why he says he will not be paying for the land?
I still cant believe this could of been risked though as it was so blatantly done ‘allegedly.’ Questions clearly need to be asked of the old BTII board about this whole thing. Anyhow folks will touch base later, promised to take the kids to the beach down Brigton for a dip.
Stuart Layne is still around from then until now isn’t he?
JohnA
Amongst many skills Kinch’s father was/is a surveyor.
His older brother has worked in the finance business in Cayman forever. In fact at least two public Bajan firms claim investments in his Funds in annual reports.
So this talk about ‘where the money come from’ is just shite talk.
$40M maybe, but not $4M.
Maybe he was a consultant to Paradise, cause the loan guarantees had in about $20M which was ‘miscellaniously’ projected which has never been accounted for.
Or an advisor to White Oaks for they got $50M for getting the NIS and CBB to agree to the restructuring!!!
@NO
What are you saying?
Kinch’s brother in Cayman is potentially a player?
Is Fortress one of the bajan firms you referenced.
To my limited knowledge the brother has mutual funds and other investments vehicles.
I am unaware of he being a player by your definition.
Point. AK, has via close family, potential access to money.
RE: PEOPLE POWER
“The Revolution has always been in the hands of the young.
The young always inherit the revolution”
— Huey P. Newton
Laughing?
Their acolytes in most Western countries are now taking censorship to a new level.
Soon from now we’ll not be able to talk about who has what where.
And the political cross-dressers will do nothing to stop this drive towards feudalism, if they have their way. Pun intended!
Who are the players when everyone is playing?
The AirBnB host says, next time WhatsApp muh, and you get a discount if you pay in Fx to my account in CDA, USA etc.
Somebody knows visitors and will foot their local bills if they transfer and equivalent amount to their account overseas.
What is the double/over invoicing about?
The management fee debacle.
These are the entry level plays everyone knows about.
Accumulating Fx is a national pastime.
@NO
Don’t trivialize the issue. We are talking about the players.
Sorry, but your approach here is trivial.
You reminded me recently what Bajans recall about former MP Sealy. And what they pay attention to.
The structure in this matter is beyond my pay grade.
Source: Nation
If you say so.
You know that AA and AK are first cousins
Cherry.
Hide it😹
Offshore banking is often discussed in a negative way because many people use it to hide their money and avoid paying taxes. Others use it for illicit purposes like money Laundering and tax evasion. While these activities are criminal and can result in prosecution, jail time, or heavy fines, offshore banking itself isn’t illegal.
It always comes to light…
Laughing is not the word. I heard on a radio show recently, 2 private jets were purchased…the person spoke with conviction, certainty, like if they had receipts.
i innocently asked, wonder where they got the money, and was told, i should know bosie, well i guess everyone else must know too…i was never close to those types…
There has long been rumor of a private island, but i put that down to rumor, never investigated.
@ Northern
You can not compare the sale of a state asset for 4 million dollars to someone booking an airbb to save $60 in tax. You really pushing the envelope here a bit too far.
You always talking about wanting transparency in the NIS, but yet you dont want a trasparent transaction for all Bajans with a state asset worth millions?
I usually agree with you on much you say but can’t this time.
JohnA
I suspect you maybe confusing two of my separate posts?
And while you need to dig deeper to realize it is more than tax and ABnB fees, it doesn’t relate to the Savoy et al sale.
If, the GoB, or an agency thereof sells an asset, it behooves them to establish source of funds? And anything else required within the law (though I use that term with caution)
And I appreciate transparency goes well beyond this.
Are we hearing about the highly suspect Canadian entrepreneur who after running a boarding school, is opening a dental school on umpteen acres of the same BTI land, plus another 9 (?) acres acquired via eminent domain? What did the GoB pay the owners for this land? What is the Cdn school paying? Is the new dental school registered in an offshore jurisdiction?
So by all means establish source of funds, and a whole lot else on Savoy.
But also do it elsewhere?
I agree Kinch is playing to get what he wants.
Be wary of the party hacks!!!
You know how much the GoB paid Mrs.Ram? Or what they sold that land for, or to whom? Or if they’ve been paid?
Here you are way ahead. You know there was a public tender. You know who the high bidder was. You even know what that bid was. You know that sale closed and the money was accepted by the GoB via whatever agency was on the sale document.
Does the GoB not properly examine source of funds? I am sure the OECD et al would love to learn that.
@ Northern
I really can’t help you with who all the international players were with the restructuring etc. People believe that if persons were doing foolishness with investment money, they wouldn’t last long and that people that know better would not invest with them. Well all I can say is history has proven this assumption couldn’t be further from the truth. I will qoute Wikipedia now to prove my point. ” Madoff founded a penny stock brokerage in 1960 which became Bernard L Madoff Investments Securities.Madoff served as the company’s chairman until December 2008 when he was arrested. That year his firm was the 6th largest market maker in S&P 500 stocks.” That man got away with his criminal acts for 48 years right under the nose of the US authorities and at one time even sat on the exchange board!
The lesson learnt from him was that if the return seemed too good to be true it probably wasnt true. You don’t have to look far either for other examples. You remember when Clico was offering people here 7% while others were offering 1.8%? So if YTD the Dow has only managed a 5 % return, how some of these money managers knocking bout could be posting returns of 8% and up? You mean them head bigger than the best of Wall Street on an ongoing annual basis? Anyhow I hope my few cents in my pension plan ain’t mix up with none of these people in Cayman, The Bahamas or any other such locations, cause I too old to start over.
JohnA
That was a joke.
I know damn well AK wasn’t likely a consultant, but…..somebody was.
If some wish to raise doubt, then let’s extend it? For I have many doubts. And it concerns a lot more than $4M.
Just last week I bought a property, and on the surface it may look like a cash deal, but I borrowed against other assets to raise the money.
So….when will any or all of the commenters finally MOVE AGAINST…as in ACTION….”the players laughing at we”…since they have laughed for the last 100 years….it dont have to be elaborate only seen as resistance instead of acceptance.
…even the CCJ, a recently created entity is totally fedup already of all of them, and they have not seen or heard all yet…. Afrika has set the pace for revolutionary relief…so what yall gine do….waste another rare opportunity…just asking..
African Online Publishing Copyright (c) 2023. All Rights Reserved. September 4, 2023. @6:19 AM
“So you step forward and the system stalls and strings you along until you are dead. Then they call your name in court one of their courts after you are dead.”
They simply postpone repeatedly and wait for you to die or help you along if the estate in question, is that wealth generating, easiest scam in the world..
..i would know nothing about any of it had i not see it myself or had elements of it practiced on me…
.as weee have known for YEARS and particularly after such mentally damaging mind bending experiences and wicked practices which has absolutely nothing to do with law……..the judiciary has STALLED…DEAD STOPPED…cant function or move a step further…just like the parliament..
.only an INDEPTH radical and COMPLETE..surgically PRECISE overhaul and REMOVAL of ALL CULPRITS.. can fix it…no one on the island has the inclination, intelligence or capabilities..to bring forth that severing. ..or it would already be done…..this has to be handled at a much different level…but people can play an integral role in setting the stage fof that…i witnessed it play out on the continent.
Yuh tink a little bit a tings me go through, Trainer?
I used to live inna one yard which part
Everybody tink dem better off dan de odder
An de only ting me coulda do
Fi meck dem know dat me naw skin up
When de area ready fi go erupt
Is fi meck dem know
Dat me a is a man that will bun up harp
An tear off house-top, because
I got some wicked thoughts
Me a tell you, Trainer
Dat I pass some man pon corner
Dat I know a some ole murderer
An see I ya? I still deh ya!
Dat one night
A jus get up
For a feel fed-up
An flash de area
A teck a walk come up ya
Dat when yuh teck a stock
Is a dance a en up at
Dance crash. An a ready fi tracks
But las bus stop
A never have no taxi fare
Plus a jus never did live anywhere
So a jus walk
An hold me head in de air
A naw tell no lie
Jus as a reach de square
A hear a man seh
‘Kiss me ass! A goin help yuh
Fi reach home before it dark!’
An im grab one little bwoy inna im wais
An before de little bwoy coulda open im mout
Im seh, ‘A who give you permission fi talk?
How ole yuh is
Fi a stay outa yuh yard till after dark?’
De bwoy seh, ‘Me? Me a fourteen, sah.’
An de man dash on de cat-a-nine
An im bawl out, ‘Lawd Jesus Christ!
Me a twenty-nine!’
Me couldn tell im dat me no live nowhere!
So me pull a skank despite im rank
By dis time a three day me no sleep
An God bless wha me eat
A beg a piece of newspaper
An a head fi de public house
Dat dem seh renk an full a crab-louse
Dat when a reach deh
A jus satta an fall asleep
Because I did feel well weak
@ Northen
The point you raised about source of funds was indeed a good one. If I deposit $11k in a commercial bank I am questioned on source of funds. Yet is a source of funds determined on real estate purchases over say $1 million USD. Secondly does a person buying a 4 million dollar property have income tax returns to support a purchase of such an asset? If it was a loan did the proceeds come through the central bank? In other words did this deal even from inception show that all of our protective measures were bypassed?
I read Mr Armstrong’s comments and he too addresses critical concerns. Truth is everything in this deal seems to have questions in it that are unanswered. From the beginning to the survey and on it went.
On another issue Northern and maybe you can help here. I wonder if deposits in Cayman entities carry any deposit insurance? I see you mentioned 2 Barbadian companies with investments in a particular Cayman entity and I can’t help but ask, if let’s say they had $100 million USD of shareholders money invested there and something went down what would happen. What insurance is in place for the capital Barbadian shareholders would have there? I mean if these companies are private companies thats fine, but if public capital is involved I would love to hear what insurance the Cayman company has in place to protect depositors. Will it cover say 70 cents on the dollar? Also what reserves does this company have to ensure if a client went in and withdrew say $200M USD, that they could cover the withdrawal without folding? It would be useless trying to take them court there we know that.
Bajans need to pay attention to this topic as they may be exposed and don’t even know.
@John A
It is well known some individuals receive increase limited to that 19k declaration of source of funds. That said players know the rules of the game.
JohnA
I have no knowledge of insurance coverage in Cayman.
I would imagine it is like most places, and little exists beyond minimal deposits.
Likely no more than if a local investment firm bought GoB Bonds?
“Yet is a source of funds determined on real estate purchases over say $1 million US”
Most definitely. It is basic to anti money laundering regulations. It is done on almost any transaction.
Why tax returns? I got the feeling, based on property tax bills and other addressed communications a corporation bought the land? You may wish to know the shareholders and investors.
@ David
You mean it’s now what you know but who. Lol
My concern here is what insurance on deposits does this entity in Cayman have to cover investors? Is it say 50 cents on the dollar? What cash reserves does this entity have on hand say? Or is he just a middle man who takes Tom’s money and invests it with Jerry, thereby taking a commission on each transaction. What liability if any at all, will this middle man accept? Or will it be a case if the turd hits the fan of him saying ” boss don’t look at me I is only the middle man?”
Well it don’t matter to me cause the few cents I got well hidden in a biscuit tin under the house.
@John A
There is a reality that cannot be refuted by anyone. Money from illicit and other sources flow through the financial system every day.
Electrically
Who knew dis factoid?
Name: Dennis Bovell
Profile: Bovell was born in St. Peter, Barbados in 1953, but grew up in London. He early became fascinated by dub and set up his Jah Sufferer sound system.
@Northern
The Savvy/Savoy issue and AK issue only highlighted another player that for the most part played under the radar
It serves to show how deals (even public tenders, brand name attorneys and what ‘appears’ to be legit documents) take place right below our noses no matter how small or big.
Nothing about that Savoy deal was straightforward. And AK is not some innocent lily white victim. I don’t care how many websites they create shouting truth and fairness.
So while everyone was focused on the known players, and watching their every move, a somewhat unknown player used the opportunity to chance it. Truth be told, DNA don’t lie, he was well moulded to be a big time player. He has the correct team around him. The parents driven to succeed, the brother well placed in the business of wealth growth living in the Capital of secret Tax Havens, the girlfriend, who acts as #1 Super fan, cries victim repeatedly, is just a pawn in his game, kudos to her for being a die hard Bajan Patriot. Let’s not forget the rich ex-wife who based on your comment some post back, could facilitate all his acquired assets.
The dots look to be closing
JohnA
I never said anything about a former wife. I know nothing about her.
If a ‘player’ what is the play?
Remember how this began? Why did it take so long to close a public tender.
The insinuations were the tender was to have a different outcome. Finally it closes. Next thing the Minister of 🌴 is cutting them down. All kinds of accusations are flying.
Then we hear about ‘specific performance’, land acquisition Act, lands sold which didn’t belong to seller, incorrect legal descriptions, land use and modifications without TCP approval, questions about source of funds, and the PM drops the bomb, the Savvy vendors will stay regardless.
Land use and zoning are huge factors in determining land value. It is a daily battle.
The developer wants X, the planners say NO. (or nothing at all) So they battle?
@2cents
Neither side is Lilly white, IMO.
They battle.
They hurl mud.
I see few connectable dots, other than AK wants permission to increase his asset value, and the powers to be say NO.
A developer-Govt battle which occurs daily around our globe.
Lots more dots that when revealed will light up the board with connections.
I will add another for you.
The condo building North of the Yacht Club that recently got approval without a EIA or Town hall meeting ….. has a X connection as investor.
The X dots and the oppression connect very well when you know them.
@Just my two cents
Achooo!
@Just my two cents
Hopefully, these two cents are not in Iranian currency (rials). That would make some sneeze and others cry.
The Iranian rial is the weakest currency in the world, with 1 rial buying a mere 0.000024 dollar (or, put another way, $1 equals 42,300 Iranian rials).
Frankie, I was about to make a negative post about your comment, but then I read the article itself.
Enron?
It appears that AA just like Rip Van Winkle was asleep in his cave for 20 years. What will he give us next? The great depression? The crash of the market in 7 BC?
Get out of the cave. The staleness of the article makes Frankie non-point relevant.
I think BU was going off course. Hopefully, I have done enough to get us back on track.
I have read the comments and it has left me with a few concerns that maybe Northern, David or John A can help me understand.
I did not come from no brand name family but with hard work and sacrifice, we managed to scrape together a few dollars over the years. My son has invested some of that money locally here in a fund and now I am worried that the local fund may be invested in this Cayman entity. So guys am I at risk of losing my money if the Cayman entity had issues? In my day things was simpler, you went in Barclays and put down the money and you got a bank book.
OldTimer
In my opinion, substantially less risk exposure than investing in GoB Bonds/paper or BSE products.
And the local exposure is so small to the overall, to be a non issue.
A way of getting some additional diversification and returns.
@ Old Timer
I would agree with Northern and say yes and no. Let me explain what I mean. Let’s call the fund locally fund B and the one in Cayman fund C.
Let’s say your son invested locally in a mutual fund $10000 in fund B and then fund B invested it in fund C, what would happen if fund C went down?
So let’s remember that along with your $10k, fund B may have taken nuff more from other investors locally and placed with fund C, to where their exposure there was in the millions, then fund C shut down or pulls in their door. This would now mean that the exposure to the local fund B you invested in could be massive. So fund B locally would have to have sizeable cash reserves to take the blow and pay out the local investors, then pursue fund C legally. Plus he in Cayman so good luck with that.
Cayman to the best of my knowledge does not offer state insurance on deposits like the USA does, so if you go there you go knowing the risk is higher than in the USA. So all those entities chasing high returns would risk money there. The question is how much do they risk as a percentage of their total asset base and how strong are they to take a blow, if say fund C decided to call it a day and go fishing?
@JohnA
Were you not the one who told us Bajans love a distraction?
The investment in another fund is so small to be seen as immaterial, and it’s been so for a long time.
@John A
What are focusing on, risk associated with types of investments or how players operate to materially benefit at a personal level.
@ Old Timer
Sorry I forgot to mention to you that although you may of invested in a local fund in Barbados dollars, remember they have permission to invest a percentage of this overseas, as does the NIS fund.
@ Northern
In an ideal world yes. Check the exposure of some entities here with fund C and then come back and tell me so. Lol
You are a man like to research and read then disect and look at all the pieces.
As an aside to this…in Ontario..there is a massive swath of land known as the GreenBelt.
The potential land uses in this area are highly restricted.
A few months ago, the GoOntario announced it was changing this in certain areas. In other words it did not apply to all lands. Shit hit the fan when the Auditor General confirmed the selection process was highly flawed and biased. A no-bid if you like.
An employee in the MoH took the fall, for rogue operation without the Minister’s knowledge. Naturally few bought this. Yesterday the Minister resigned. And it isn’t over yet.
While the politicians continue their shameless behaviour, it doesn’t always fly.
JohnA
What is Fund B and C?
I don’t invest locally beyond a few shares I ended up with after BHL sold.
@ David
It’s a combination of both really. So investors chase higher returns and as a result some investment houses would dangle high returns in front them as bait. For instance Madoff catered to the New York elite and old money among others. When the market was rolling along he was able to run a successful pyramid scheme for 48 years. When the crash came though he did not have the reserves to cover the withdrawals and with no new deposits coming in to pay off the demand for repayment, the pyramid crumbled.
So the reality is anyone can make money when the bulls running but when the bears come out, only the solid entities with strong reserves survive.
@ Northern
Listen you way too informed to ask those questions of a humble shopkeeper. Next thing my old shop get stone and you get up there in Canada and laugh at me! LOL
@ Northern 10.50 am
What wife you talking bout that I mentioned?
Yes the Savvy thing had nuff chapters in it from day one. The trees get plant without the permission of the NCC twice I think someone said so the entity move them.
Then the repairs start without the permission of the TCP but based apparently on some letter BTII issued.
Then the boss lady ( I mean the PM not the other lady) say the food vans was there illegally but she will sort it out and they safe.
Then the talk about the survey came up and measurements didn’t agree and the high water mark was wrong and in the buyers favour.
Then the talk about conflict of interest with the surveyor was raised, although I personally can’t see how that could of happen in a 21×14 rock where everybody know who is who.
Then the talk was that kinch buy land from BTII that was not theirs to sell. So it look like the lawyers involved didn’t do no title search.
Well that is all I read and hear the PM talk bout, but God knows what else happen that I don’t know bout. Anyhow the PM says there is more to come so I will wait to hear the rest before I form an opinion.
What the prime minister said is that Duguid and Marshall is on the clock and if they don’t solve the issue she will.
JohnA
My apologies the comment on the ex-wife was from OneScent, or 2cents.
For the most part, gamesmanship.
Recall, the initial tender was not just $$$, but a proposal for development.
While no permissions were granted, there seemed to be the implied land use beyond a vacant lot.
Then bruggadung.
I have the niggling feeling, the ‘development opportunity’ at the old GH is intricately tied to some of the lands in question. @plt said two parties are pursuing that ‘opportunity’.
Only time will tell?
JohnA
I don’t wish anybody to stone you or the shop.
The base funds in Cayman, seem to be very conservative.
Lower risk. Hence moderate, but reasonably predictable returns.
@ Northern
Well time will tell one way or the other. Until then my biscuit tin will stay under the house with my few cents in it.
You know ten years ago any bajan would of told you “government paper is the safest investment a bajan could make. It safe and guaranteed by the Barbados Government.” Well they singing a different tune now. Remember when the short man from the north said “where better to invest NIS money but with government?” Well he got washed out in the cleansing with the first 30 to 0.
Remember when Trade Confirmers went down and government said “we will put measures in place to insure this never happens again.” Years later wapax Clico in you tail.
Never say Never.
Somehow the people must recognize they are being scammed and conned…the system has long expired, so have the politicians….stop listening to them and dont interact, avoid their fowl supporters….their END is here
“Professor P. Huntington..a FEMA advisor from the 1970s. He wrote the “Seminal Peace” for the Trilateral Commmission in the mid-1970s, recommending that democracy and economic development be discarded as oudated ideas. He wrote, as co-author of the book Crises in Democracy. “We have come to recognize that there are potential desireable limits to economic growth. There are also potentially desireable limits to the indefinite extension of political democracy. A government which lacks authority will have little ability short of cataclysmic crisis to impose on its people the sacrifices which may be necessary”
Pacha…am reading this book, you may or may not have read, if you did, will recognize the above……mind you, it’s well known i dont take politics or politicians seriously they make me nauseous, and i see them both as destructive guided missles that they have proven they are..
…but when a Harvard professor wrote this in the 70s, it truly signifies that both have LONG EXPIRED decades now, just as i wrote about and comment on often…..just as Kwame Nkrumah saw it’s end and was very descriptive in his book….all that’s left is the burial….
..am just sick of hearing small island nuisances regurgitate expired rubbish….and cant see a sensible populace allowing sacrifices imposed on them after the fake leaders RoB-ed so much from them…for just as long.
https://www.nationnews.com/2023/09/04/mexican-couple-robbed-heywoods/
People will continue to move monies out of the country unless or until there are restrictions put in place to prevent local currency migrating.
This is the current situation in Sri Lanka.
There are allegations emerging that the Rajapaksa’s had a hand in the 2023 Easter terrorist attacks on a church as they were in opposition at that time and needed some leverage for power.
*2019 Sri Lanka Easter bombings
DEPPM SANTIE to the rescue but she consulted PMMIA
Oistins.
@TheOGazerts,
https://barbadostoday.bb/2023/09/05/new-home-for-st-lucy-resident/
@Hants
Good post.
Do you see how my boys have no money, no budget or power but the welfare of the weak and poor is uppermost on their minds.
While some focus on ‘big wuk’ others do the ‘small wuk’ that is needed.
Keep it up St Lucy.
Laughing!
Even the WB or IMF or both is dumping the artificiality of GDP in naming China, India and Russia as three of the top five economies.
As measured by PPP which ignores the questionable addition of FIRE elements. Speculation, which as in FIRE adds nothing real.
PPP says that a unit of currency buys more in their countries as compared to the GDP bullshite of peer competitors.
Who’s laughing?
Kaomi Kline wrote masterfully about “Disaster Capitalism”.
Where governments and companies or hedge fund hyenas like Black Rock, not the the mad house so located.
Would help create or exacerbate tragedies for profit. We see the same degenerative behaviour in war zones.
These circumstances in Lahaina, Haiwaiii may be coming to a city near you. As a natural consequence.
https://youtu.be/OQ70c6pERe4?si=CAChzenrp5DE1pvb
Hi David I just saw your post.
I think the thing people need to realize is that Allan Kinch IS NOT a player.
A good example of that is this article https://www.nationnews.com/2010/08/27/blp-column-fairness-and-truth/
The games that are played in Barbados involve corruption and Allan has NO skin in that game so suffers year after year government after government. Despite his suffering he does not change as he was raised and told No Babball as I have heard his father say.
As to why Mr Kinch has started to develop the site without permission……. Well you see David it’s quite simple. Mr Kinch is a poor rich boy. He had assets in the millions but he can’t touch even a cent of them. Mr Kinch has for the last 7 years or more been in a contentious court battle with his Ex wife in a divorcé settlement where he has applied to the court to sell all of his shared assets and split everything 50/50. He simply wants to move on with his life but as many who face the courts in Barbados will tell you, these cases go no where fast.
It is with the noose of the Barbados law courts around his neck that Mr Kinch put the land on Bay Street into use to help pay the land tax bills for the property which is tens of thousands of dollars a year. And also in hopes of getting income because he is unable to pay all of his bills.
Personally I believe that the government is using the situation in court against him as they know he needs money so they are throwing an unfair offer at him hoping he will accept it because the noose from the court is tight around his neck…. The AG himself had acknowledged how long court cases take in Barbados. Some cases have been going on 25 years. That is longer than some people’s lives.
Mr Kinch has no hope of his settlement case ever being concluded but is forced to watch’s as millions of his hard earned money is wasted away. A true form of torture.
I remember someone once telling me that their divorce case also took over a decade and that when they got it settled the judge retired leaving 66 cases without verdicts. The reality is the court system in Barbados does NOT work and this affects many things.
Investment because companies should be very fearful of ever having to end up in court and you can end up there even when you have not done anything wrong.
It’s affects families by dragging out contentious situations that bring more and lasting division instead allowing the healing process to begin.
It affects individuals who often end up with medical issues connected to stress such as diabetes, high blood pressure, cholesterol, heart disease, depression, anxiety and others. In some cases the persons die from the stress.
Now let see can someone please remind me which minister is responsible for the functioning of the Barbados Law Courts?
All deliberate, especially when valuable estates worth millions or billions are involved….all the vultures and carrion birds come out and park cause they smell death…
Brace yaselves, no more leaking out, everything is POURING OUT, flood-like…there is no stopping that deluge…try it, with no power to do so, and drown in it..
Everyone is being WARNED…and of course the world will take stock.
@ Sarah Taylor on September 6, 2023 at 9:42 AM said:
“The games that are played in Barbados involve corruption and Allan has NO skin in that game so suffers year after year government after government. Despite his suffering he does not change as he was raised and told No Babball as I have heard his father say.”
++++++++++++++++++++++++++++++++++++++++++++++++++
Is this ‘Kinch’ who is involved in this clear case of a tragedy of moral and legal (in)justice in any way associated with the old Wakefield Plantation?
The Justice system in Barbados is a parody of a “pappy-show”.
It is highly recommended that the new Constitution provides for judges to be held accountable for ensuring all judgements are made within 1 year.
Judicial officers should not be seen as being above the higher Laws of Morality and Accountability.
Miller…all of it is by design, they ALL want dragging off the island and jailing, both them and their partners and enablers, who convinced themselves they will continue these human rights violating criminal activity indefinitely…they believe, just like their wicked Slaves, that everyone is afraid of them…..
I would like to inform those who congratulated me that the honorary title was BUC – BU Counsel.
Those who are disrespectful and refer to me as an old and useless buck will not be tolerated – buck off
So how did yall manage to implode on yaselves like that, without any help from anyone…..quite the feat…nuff gymnastics…olympians…
Breaking news
Government is approaching the goal of having 10,000 homes available in 5 years.
I was a nonbeliever, but after a tour and an intense discussion with the Minister of Housing I am a believer.
The Minister began with “I was misquoted. I said homes not houses. Do you realize that one house could be a home for several families?”
He continued “We did not promise permanent homes. Do you know that one house could be a temporary home for several families? If we offer families a two-week stay, then one house can be the home for 26 families in 1 year and for 130 families in 5 years. Do you realize that with 100 houses we can provide homes for 13,000 families over 5 years. And did we get 100 houses? No we got 150 houses from China.”
The tour was of two houses (260 homes). I went home and double checked his calculation. He was correct.
Let’s complete those 150 Chinese houses (10,000 homes in 5 years).
I am wondering if anyone missed Mia as much as I did. I am anxiously awaiting her return.
I have a little place selling fish cakes and cheese cutters and they are trying to push me out. I talking to my friend Archie whose product goes up in smoke (catch my drift) but he got Mia on speed dial.
I need her intervention so that I can make my fish cakes in peace.
Congratulations to the team Mia left in place. Their level of performance surpassed all my expectations.
I was looking for the wheels to fall off the bus, but they did not. One issue raised its ugly head and it was remedied in the right way.
Headlines
Mia Mottley motley misfits magnificently and mysteriously managed minor mistakes made by lower level managers.
I may have to raise the bar
As I sit in the comfort of my home, I wonder why I was silent when visiting Barbados?
Survival instincts took control and silenced me.
But as you can see in the word of an American athlete “I am not back. I am better”.
Have a great and blessed evening.
@Miller
Same Kinch from Wakefield Plantation
I did chuckle at Taylor’s statement “….. as he was raised and told no baball…”.