REPORT #562 November 2002

Produced by Ray Auxillou

Our Prime Minister and colleagues are just plain short sighted. They can't get past their pocketbooks or bank accounts.

Take the EU demand for Belize and other Caribbean tax havens to list all EU bank accounts by their citizens, or make co-signing, of neighboring countries in CARICOM liable for the debts and interest payments on loans Caribbean wide. Debt liability as a BLOCK responsibility.

I've kind of got a hoarse throat trying to turn "Said" our Prime Minister in Belize, into a statesman! Not going to work! Too bad really! He's so busy putting out brush fires in his party, he can't do anything meaningful on the big picture scheme.

Yet a GOLDEN OPPORTUNITY lies in passing BANKRUPTCY LEGISLATION for NATIONS. Here we are in a situation were the THIRD WORLD is kept in perpetual debt. The NEW IMPERIALISM IS ECONOMIC RULE. The skimming of foreign exchange earnings by interest payments. Debt Peonage on a world scale! All that elaborate harvesting foreign exchange setup by the G-27 countries would come tumbling down like a pack of cards, if Said Musa our Prime Minister had even a little bit of STATESMANSHIP leadership qualities in his little pinkie finger.

If nations were to establish NATIONAL BANKRUPTCY ACTS, what do you think would happen to the front organizations like the IMF and the WORLD BANK and the IDB? Mon! They would go out of business mon! Or become smaller commercial style banks.

The third world debt peonage system of the NEW WORLD ORDER IMPERIALISM needs flushing out. Too bad we don't have any statesmen in our government, or anyplace in the Caricom countries for that matter. Somebody just needs to drop that one pebble in the pond with the first NATIONAL BANKRUPTCY ACT and then watch the ripples flow around the world. Mon! What a day that would be? But hell, what can you expect from a Prime Minister whose claim to fame, is a piece of legislation to make illegal for members of his own party to cross the aisle and join the other side?

C'mon, some CARICOM Prime Minister ( Barbados maybe? )? Pass a NATIONAL BANKRUPTCY ACT. In which anytime that the debt to GDP ratio hits 48%. Bankruptcy is automatic. In the NATIONAL BANKRUPTCY ACT, offer creditors 25 cents on the dollar with a BOND ISSUE at 1.47% interest. Or nothing! All within 60 days notice! 25% or NOTHING within 60 days. Include in the ACT; that anytime a national government in Bankruptcy Re-organization borrows up to and surpasses 20% of the average annual income of the last five years, there would be a MANDATORY STOP on any further borrowing until said debts in total, drop below 12% of the average annual government income of the last five years.

Why don't we as THIRD WORLD COUNTRIES set our own RULES, instead of the EU, or the USA? Is it because we have a bunch of worthless political elites, lawyers mostly; whose only goal is self enrichment and power for the sake of ego-gratification? All we need is just ONE Caricom Prime Minister who is a statesman, with ability to see into the future and do something positive to change the NEW ECONOMIC IMPERIALISM.

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