There is zero incentive for the Commercial banking consortium or the Government to reduce debit card fees from 3% of every transact to 5 cents which is the cost in the US.
On a $100 transaction the bank takes $3 and the government takes 36 cents. Why would they cut such a massive profit which they divided to Canada and the government take in VAT to support their bloated payroll?
The cost are hidden from general public because it is taken from the merchants.
The country suffers as merchants prefer cash which increases robberies. But we have become numb to crime as we have the highest crime rate in the Western Hemisphere.
Besides the bankers live out west protected in thier gated communities talking nonsense as to why we as a Nation are so backwards in finance.
Decades after commercial banks have been fleecing the Bahamian public with a 3% fee on every debit account transaction where they simply withdraw the funds from a good balance the IMF now tells us?
Where is the central bank in protecting merchants? where is the government protecting merchants? where is the chamber of commerce protecting their members?
I guess in another decade the IMF will tell us that exchange controls also suppress economic growth and the unconscionable cost of electricity is a major drag on commerce.
Also throughout the Bahamian archipelago there are about 12 runways that need repaving at a cost of $3 to $5 million each. Hot Mix is well positioned through their political connections and predictory price to get all da contracts.
Brent must resigns so Minnis can payback the FNM/UBP and PLP shareholders. āItās da 12 wealthy families time againā. Yinna black ppl wa travel? Den hush ya mout because we mout shut tight on why he resign. No needs to account for nuttin.
While the PLP/FNM are going about getting rid of the monopoly that HotMix has on asphalt here are some more monopolies to get rid of:
1. Arawak Port - 20 year monopoly on all shipments coming to Nassau.
2. BEC monopoly on the distribution of electricity by owning the electrical grid.
3. BEC on power generation
4. Focol on the importation of all gas, diesel and jet fuel into the Bahamas
5. Post office on the delivery of mail
6. Central Bank and the Bahamian dollar via exchange controls which don't allow Bahamian to invest abroad easily to get better pension returns and then forcing them to invest in the loosy cash strapped Cable/Alive bonds
7. Ministry of Education hold on all the schools. Pushing out a D average for all kids. Employers are complaining that the workers can't read and write and thats why there are 16,000 work permits in the country.
8. Water and Sewerage owning all the water generation and distribution in the Bahamas. Looosing money every year.
9. Bahamasair putting privately owned Bahamian transportation companies out of business.
I could go on and on. But what does it matter no one with any power is listening. They know exactly what needs to be done but they are scared to do it because they will be fired.
"Until Shell North America gets in here, if they coming"
yinna ga get rid of Aggreko (who ever dey are) an den da fnm ga replace dem wit Shell...well muddos, des ppl does grease up politicians in Africa in da billions.
ohh boy, i tryin to do some due diligence on Aggreko. I can figure out nuttin bout dem.
fnm better light dey torch and see if anyone gettin grease up.
dey say dey located at
Miami Depot 3601 NW 123rd Street 33167 03458 247 365
but when i google dem it look like ain nobody in da buildin. hey, tribune, please check dese ppls out, all my fridge, stove, a/c done mess up, i try call bec, dey ain anwerin da phone, it 95% outside. i close my business because my freezer get mess right up and bec gettin ready to shut me off for $500 bill...."its da ppls dem time"!
observer2 says...
There is zero incentive for the Commercial banking consortium or the Government to reduce debit card fees from 3% of every transact to 5 cents which is the cost in the US.
On a $100 transaction the bank takes $3 and the government takes 36 cents. Why would they cut such a massive profit which they divided to Canada and the government take in VAT to support their bloated payroll?
The cost are hidden from general public because it is taken from the merchants.
The country suffers as merchants prefer cash which increases robberies. But we have become numb to crime as we have the highest crime rate in the Western Hemisphere.
Besides the bankers live out west protected in thier gated communities talking nonsense as to why we as a Nation are so backwards in finance.
On Bank chief: 'We can do better' over card fees
Posted 8 July 2019, 3:46 p.m. Suggest removal
observer2 says...
Decades after commercial banks have been fleecing the Bahamian public with a 3% fee on every debit account transaction where they simply withdraw the funds from a good balance the IMF now tells us?
Where is the central bank in protecting merchants? where is the government protecting merchants? where is the chamber of commerce protecting their members?
I guess in another decade the IMF will tell us that exchange controls also suppress economic growth and the unconscionable cost of electricity is a major drag on commerce.
Well said but nothing will change.
On IMF tells banks: Don't 'penalise' merchants on debit card use
Posted 3 July 2019, 3:29 p.m. Suggest removal
observer2 says...
Consolidated Water produces water for WSC š
On UPDATED: Symonette resigns from Cabinet
Posted 2 July 2019, 6:33 a.m. Suggest removal
observer2 says...
Also throughout the Bahamian archipelago there are about 12 runways that need repaving at a cost of $3 to $5 million each. Hot Mix is well positioned through their political connections and predictory price to get all da contracts.
Brent must resigns so Minnis can payback the FNM/UBP and PLP shareholders. āItās da 12 wealthy families time againā. Yinna black ppl wa travel? Den hush ya mout because we mout shut tight on why he resign. No needs to account for nuttin.
On UPDATED: Symonette resigns from Cabinet
Posted 1 July 2019, 3:01 p.m. Suggest removal
observer2 says...
Well said Well_mudda_take_sic.
While the PLP/FNM are going about getting rid of the monopoly that HotMix has on asphalt here are some more monopolies to get rid of:
1. Arawak Port - 20 year monopoly on all shipments coming to Nassau.
2. BEC monopoly on the distribution of electricity by owning the electrical grid.
3. BEC on power generation
4. Focol on the importation of all gas, diesel and jet fuel into the Bahamas
5. Post office on the delivery of mail
6. Central Bank and the Bahamian dollar via exchange controls which don't allow Bahamian to invest abroad easily to get better pension returns and then forcing them to invest in the loosy cash strapped Cable/Alive bonds
7. Ministry of Education hold on all the schools. Pushing out a D average for all kids. Employers are complaining that the workers can't read and write and thats why there are 16,000 work permits in the country.
8. Water and Sewerage owning all the water generation and distribution in the Bahamas. Looosing money every year.
9. Bahamasair putting privately owned Bahamian transportation companies out of business.
I could go on and on. But what does it matter no one with any power is listening. They know exactly what needs to be done but they are scared to do it because they will be fired.
The issue with Brent is just a side show.
On UPDATED: Symonette resigns from Cabinet
Posted 1 July 2019, 12:50 p.m. Suggest removal
observer2 says...
Actually the tests were doing themselves.
No one was there.
When they came there at 6.30am they found out that the test malfunctioned.
No one to blame.
Similar to the BEC powercuts. No one was incompetent, no one will be fired.
Now shut up and mind your own business. Western Air mussy ain need dat plane.
Aināt we running da country wit one runway? Western could run wit one plane and BEC running wit one broke a*s generator.
On Decommissioned Western Air plane collides with overhang
Posted 29 June 2019, 8:21 p.m. Suggest removal
observer2 says...
realfreethinker. you have a great point about the alarm, video monitoring and motion detector systems.
On VIDEO: Stacked shopping carts used in store break in
Posted 28 June 2019, 10:37 a.m. Suggest removal
observer2 says...
"Until Shell North America gets in here, if they coming"
yinna ga get rid of Aggreko (who ever dey are) an den da fnm ga replace dem wit Shell...well muddos, des ppl does grease up politicians in Africa in da billions.
https://www.cnbc.com/2019/03/01/shell-tā¦
On BPL union: Blackouts worst itās ever been
Posted 27 June 2019, 11:14 a.m. Suggest removal
observer2 says...
"Mr Maynard likened BPL spending almost $2m each month on rental Aggreko generators to putting a bandage on a festering wound".
https://www.aggreko.com/
ohh boy, i tryin to do some due diligence on Aggreko. I can figure out nuttin bout dem.
fnm better light dey torch and see if anyone gettin grease up.
dey say dey located at
Miami Depot
3601 NW 123rd Street
33167
03458 247 365
but when i google dem it look like ain nobody in da buildin. hey, tribune, please check dese ppls out, all my fridge, stove, a/c done mess up, i try call bec, dey ain anwerin da phone, it 95% outside. i close my business because my freezer get mess right up and bec gettin ready to shut me off for $500 bill...."its da ppls dem time"!
https://www.google.com/maps/place/3601+ā¦
On BPL union: Blackouts worst itās ever been
Posted 27 June 2019, 10:53 a.m. Suggest removal
observer2 says...
dat ain true, fnm tell me it was worsest under da plp
"its da ppls time" ... come get yinna numbers, alcahol, carnival and soon merryjane.
shut ya mout and go cool of in da ocean
On BPL union: Blackouts worst itās ever been
Posted 27 June 2019, 10:43 a.m. Suggest removal