…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.
The blogmaster invites you to join the discussion.