Not this again. On one side of today's paper this lawyer argued that financial services will be finished when the Bahamas publicly lists IBC beneficial owners. And on the other side of the page he argues that opening the bar will benefit financial services. Well, if financial services will soon be finished, why open the bar to foreign lawyers? He defeated his own argument all by himself on the same page of the paper!
How convenient. State of emergency, so no investigation into firing of BPL board. I think I've heard that before: State of emergency, raise VAT to 12%. State of emergency, buy Lucayan Hotel with no due diligence or negotiation. State of emergency, join WTO. State of emergency, open the Bahamas Bar to foreign lawyers.... The list goes on and on.
Thirdly, will this accession to the WTO eventually force us to remove our currency peg to the U.S. dollar, when, as a result of an unprecedented increase in U.S. imports and decrease in Bahamian exports, our U.S. currency demand becomes far greater than our demand for our own currency?
Could we, one day soon, become a U.S. dollar-only economy?
I've finally cracked the FNM Grand Lucayan Hotel purchase code. In order to join WTO and due to devaluation to junk bond status, the Bahamian currency WILL be devalued. In order to hedge against guaranteed devaluation, the Baystreet Boys are purchasing the hotel so they can sell it for US dollars to a foreign purchaser/investor. The Baystreet Boys can then exchange their Bahamian dollars for US dollars before devaluation occurs. This is also why the Baystreet Boys want ownership of the Cruise Ship Port, so they will have access to and a steady flow of US dollars. I'm calling it now! The B dollar is going to be devalued before the Bahamas can join the WTO (the US dollar peg will not be allowed by the WTO!). Change your Bahamian currency now! This is the only explanation that makes perfect sense for the purchase of the hotel.
Yet this same arrogantly simple man who supposedly "hates" foreigners just gave a foreign company 65 million dollars plus of our hard earned VAT money, when he could have likely leveraged a purely private purchase of the white elephant Lucayan Hotel using Government pressure points. Can't fool us Minnis. He may "hate" foreigners, but he had nothing but contempt for the Bahamian people. And now he's begging another foreign company, Shell, to bail out the BPL power shortage. This man's lips and his actions are a million miles apart.
It never fails. When a politician feels like he is unpopular and has lost control of the country and his mandate to lead, he tries to appeal to the public hate of foreigners. Oldest trick in the book. This is purely a move made by a desperate man to shift the blame and change the narrative from his own inadequate leadership ability.
Does anyone anticipate any positive thing coming out of this administration based on their performance thus far? The only logical expectation would be more heartbreak and disenfranchisement. The only way they could rectify their tragic performance would be to pass the Freedom of Information Act, Campaign Finance Transparency Act, Term Limits and Fiscal Responsibility Act. Only then would they start to begin to appear like the administration they promised to be on the campaign trail. Other than that, just darkness, more and more darkness and damage to the country is in store for us.
fnm & plp Playbook 1. Raise taxes with lies about debt payment. 2. Buy or start a crazy expensive nonessential construction project far from the public view (Lucayan Hotel, BAMSI, Carnival, Baseball field). 3. Pay huge costs to contractors, lawyers, realtors and others affiliated with the party and basically steal at least 50 million dollars. 4. Leave the Bahamian tax payers to pay the 200 million dollar mess. 5. Start another project (rinse, repeat).
These guys are like a pair of tired warn out Clark shoes. Nobody wants to hear a word out of their mouths, because they are completely untrustworthy. In all honesty, they should resign and call an ellection. They have zero political capital left!
BahamaPundit says...
Not this again. On one side of today's paper this lawyer argued that financial services will be finished when the Bahamas publicly lists IBC beneficial owners. And on the other side of the page he argues that opening the bar will benefit financial services. Well, if financial services will soon be finished, why open the bar to foreign lawyers? He defeated his own argument all by himself on the same page of the paper!
On QC: Bar must open for financial services
Posted 19 September 2018, 7:39 p.m. Suggest removal
BahamaPundit says...
How convenient. State of emergency, so no investigation into firing of BPL board. I think I've heard that before: State of emergency, raise VAT to 12%. State of emergency, buy Lucayan Hotel with no due diligence or negotiation. State of emergency, join WTO. State of emergency, open the Bahamas Bar to foreign lawyers.... The list goes on and on.
On BPL faces early Shell call on ‘shortfall’ fear
Posted 19 September 2018, 9:46 a.m. Suggest removal
BahamaPundit says...
Please read this excellent article in full. The relevant quote is printed below:
https://thenassauguardian.com/2014/05/1…
May 14, 2014
Nicole Burrows
Thirdly, will this accession to the WTO eventually force us to remove our currency peg to the U.S. dollar, when, as a result of an unprecedented increase in U.S. imports and decrease in Bahamian exports, our U.S. currency demand becomes far greater than our demand for our own currency?
Could we, one day soon, become a U.S. dollar-only economy?
On ‘Enough - too many foreign workers’: Minnis warns labour permits must decrease
Posted 18 September 2018, 1:50 p.m. Suggest removal
BahamaPundit says...
I've finally cracked the FNM Grand Lucayan Hotel purchase code. In order to join WTO and due to devaluation to junk bond status, the Bahamian currency WILL be devalued. In order to hedge against guaranteed devaluation, the Baystreet Boys are purchasing the hotel so they can sell it for US dollars to a foreign purchaser/investor. The Baystreet Boys can then exchange their Bahamian dollars for US dollars before devaluation occurs. This is also why the Baystreet Boys want ownership of the Cruise Ship Port, so they will have access to and a steady flow of US dollars. I'm calling it now! The B dollar is going to be devalued before the Bahamas can join the WTO (the US dollar peg will not be allowed by the WTO!). Change your Bahamian currency now! This is the only explanation that makes perfect sense for the purchase of the hotel.
On ‘Enough - too many foreign workers’: Minnis warns labour permits must decrease
Posted 18 September 2018, 1:23 p.m. Suggest removal
BahamaPundit says...
Yet this same arrogantly simple man who supposedly "hates" foreigners just gave a foreign company 65 million dollars plus of our hard earned VAT money, when he could have likely leveraged a purely private purchase of the white elephant Lucayan Hotel using Government pressure points. Can't fool us Minnis. He may "hate" foreigners, but he had nothing but contempt for the Bahamian people. And now he's begging another foreign company, Shell, to bail out the BPL power shortage. This man's lips and his actions are a million miles apart.
On ‘Enough - too many foreign workers’: Minnis warns labour permits must decrease
Posted 18 September 2018, 10:12 a.m. Suggest removal
BahamaPundit says...
It never fails. When a politician feels like he is unpopular and has lost control of the country and his mandate to lead, he tries to appeal to the public hate of foreigners. Oldest trick in the book. This is purely a move made by a desperate man to shift the blame and change the narrative from his own inadequate leadership ability.
On ‘Enough - too many foreign workers’: Minnis warns labour permits must decrease
Posted 18 September 2018, 9:58 a.m. Suggest removal
BahamaPundit says...
Does anyone anticipate any positive thing coming out of this administration based on their performance thus far? The only logical expectation would be more heartbreak and disenfranchisement. The only way they could rectify their tragic performance would be to pass the Freedom of Information Act, Campaign Finance Transparency Act, Term Limits and Fiscal Responsibility Act. Only then would they start to begin to appear like the administration they promised to be on the campaign trail. Other than that, just darkness, more and more darkness and damage to the country is in store for us.
On DPM: No more VAT hikes before election
Posted 15 September 2018, 4:20 p.m. Suggest removal
BahamaPundit says...
fnm & plp Playbook
1. Raise taxes with lies about debt payment.
2. Buy or start a crazy expensive nonessential construction project far from the public view (Lucayan Hotel, BAMSI, Carnival, Baseball field).
3. Pay huge costs to contractors, lawyers, realtors and others affiliated with the party and basically steal at least 50 million dollars.
4. Leave the Bahamian tax payers to pay the 200 million dollar mess.
5. Start another project (rinse, repeat).
On DPM: No more VAT hikes before election
Posted 15 September 2018, 9:21 a.m. Suggest removal
BahamaPundit says...
These guys are like a pair of tired warn out Clark shoes. Nobody wants to hear a word out of their mouths, because they are completely untrustworthy. In all honesty, they should resign and call an ellection. They have zero political capital left!
On DPM: No more VAT hikes before election
Posted 14 September 2018, 9:30 p.m. Suggest removal
BahamaPundit says...
FNM treating our VAT money like an Asue.
On Lucayan’s $1m staff debt safe
Posted 14 September 2018, 9:16 p.m. Suggest removal