I suspect when push comes to shove, the CCP controlled U.S. government will walk away from its $300+ million new U.S. embassy building in Nassau in much the same way that it walked away from the mega millions of dollars worth of investments it had made and left in Afghanistan.
OMG!! Has anyone taken a close look at Commonwealth Bank's balance sheets at December 31, 2022 and March 31, 2023?
About 50% of its nearly $2 billion in total assets consists of investments in Bahamas Government issued or guaranteed debt instruments. This shockingly high concentration of credit risk, interest rate risk and liquidity risk, is nearly three times the total shareholders' equity of the bank.
For all intents and purposes, it would now seem Commonwealth Bank is owned and controlled by The Bahamas Government, in much the same way that Bank of The Bahamas is. And we all know that can't be good for those who have invested in shares of Commonwealth Bank or should I more appropriately say, shares of The Bahamas Government.
I hope you realise this most absurd IMF proposal is just but one manifestation of the fact that the Bahamian dollar is now worthless.
Yields on very short duration U.S. Treasury bill holdings are now in excess of 6%. The bankrupt Bahamas Government does not even have the economic option or financial means to increase interest rates on new offerings of Bahamas Government debt securities denominated in Bahamian dollars to attract buyers/investors of such investment paper.
And the recent significant increase in interest rates being offered on most new issues of sovereign debt in the international debt markets makes it impossible for The Bahamas Government to issue debt securities denominated in foreign currencies.
The IMF is politely telling the corrupt Davis led PLP government that they may as well now blow up the entire financial system of The Bahamas because no foreign aid or help is on the horizon from the international lending agencies which are now themselves tapped out from needing to help so many other bankrupt countries around the world.
Dingman, Maynard-Gibson and Mosko are all business partners in this proposed despicable condominium project. And Maynard-Gibson was recently over-heard saying at a muck-a-muck social function my wife forced me to attend that Adams KC is way too much of a feather-weight lawyer with absolutely no political capital to prevent the project from proceeding.
ExposedU2C says...
This comment was removed by the site staff for violation of the usage agreement.
On Insurers 'over reacting' on 50% investment 'minimum'
Posted 26 May 2023, 2:36 p.m.
ExposedU2C says...
I suspect when push comes to shove, the CCP controlled U.S. government will walk away from its $300+ million new U.S. embassy building in Nassau in much the same way that it walked away from the mega millions of dollars worth of investments it had made and left in Afghanistan.
On Insurer uproar on Gov'ts 50% investment 'dictate'
Posted 26 May 2023, 2:06 p.m. Suggest removal
ExposedU2C says...
.....ditto that.
On DIESEL SALES HALT TO LAST UNTIL MARGIN RESOLUTION: However, sites owned by FOCOL continue to make fuel available
Posted 26 May 2023, 1:56 p.m. Suggest removal
ExposedU2C says...
This comment was removed by the site staff for violation of the usage agreement.
On Judge: 'Now clear' Baha Mar sabotaged by CCA
Posted 26 May 2023, 1:45 p.m.
ExposedU2C says...
OMG!! Has anyone taken a close look at Commonwealth Bank's balance sheets at December 31, 2022 and March 31, 2023?
About 50% of its nearly $2 billion in total assets consists of investments in Bahamas Government issued or guaranteed debt instruments. This shockingly high concentration of credit risk, interest rate risk and liquidity risk, is nearly three times the total shareholders' equity of the bank.
For all intents and purposes, it would now seem Commonwealth Bank is owned and controlled by The Bahamas Government, in much the same way that Bank of The Bahamas is. And we all know that can't be good for those who have invested in shares of Commonwealth Bank or should I more appropriately say, shares of The Bahamas Government.
On Insurer uproar on Gov'ts 50% investment 'dictate'
Posted 26 May 2023, 1:28 p.m. Suggest removal
ExposedU2C says...
I hope you realise this most absurd IMF proposal is just but one manifestation of the fact that the Bahamian dollar is now worthless.
Yields on very short duration U.S. Treasury bill holdings are now in excess of 6%. The bankrupt Bahamas Government does not even have the economic option or financial means to increase interest rates on new offerings of Bahamas Government debt securities denominated in Bahamian dollars to attract buyers/investors of such investment paper.
And the recent significant increase in interest rates being offered on most new issues of sovereign debt in the international debt markets makes it impossible for The Bahamas Government to issue debt securities denominated in foreign currencies.
The IMF is politely telling the corrupt Davis led PLP government that they may as well now blow up the entire financial system of The Bahamas because no foreign aid or help is on the horizon from the international lending agencies which are now themselves tapped out from needing to help so many other bankrupt countries around the world.
On Insurer uproar on Gov'ts 50% investment 'dictate'
Posted 26 May 2023, 12:59 p.m. Suggest removal
ExposedU2C says...
This comment was removed by the site staff for violation of the usage agreement.
On US VP visiting Bahamas to meet leaders from region
Posted 26 May 2023, 12:06 p.m.
ExposedU2C says...
This comment was removed by the site staff for violation of the usage agreement.
On Halkitis: Not considering fuel retailers margin fix
Posted 26 May 2023, 11:49 a.m.
ExposedU2C says...
This comment was removed by the site staff for violation of the usage agreement.
On Judge: 'Now clear' Baha Mar sabotaged by CCA
Posted 26 May 2023, 11:37 a.m.
ExposedU2C says...
Dingman, Maynard-Gibson and Mosko are all business partners in this proposed despicable condominium project. And Maynard-Gibson was recently over-heard saying at a muck-a-muck social function my wife forced me to attend that Adams KC is way too much of a feather-weight lawyer with absolutely no political capital to prevent the project from proceeding.
On Town Planning rejected Lyford Cay condo advice
Posted 24 May 2023, 1:23 p.m. Suggest removal