Comments on: Minister: Govt Arranges $200 Million Loan Facility

By: stunned...

stunned... — Wed, 22 Jul 2015 20:35:53 +0000

you’d think the tourism/weding planners would be all over it lobbying the government. hmm guess not.

By: Tony Brannon

Tony Brannon — Tue, 21 Jul 2015 21:13:00 +0000

Debt snowballs. It could be that by 2017 we are $ 3 billion plus in debt and by 2020 $ $ 4 Billion or more….
This is a train wreck in the making.

By: Tony Brannon

Tony Brannon — Tue, 21 Jul 2015 21:10:56 +0000

When Bermuda’s national debt stands at $2.3 Billion and the Minister of Finance has just secured another $200 million, WHY do we continue to ignore the huge tourism opportunity of same sex tourism? Bob Richards
President Barack Obama has been a leader on this issue. Now all 50 states in the USA allows same sex couples to marry. These folks look for cool places to get married or have honeymoons. Just like any couple. In fact, why is there a difference at all. it is myopic and completely backward of Bermuda?

By: stunned...

stunned... — Mon, 20 Jul 2015 16:49:10 +0000

more willful ignorance: a disdain for facts.

please seriously reconsider your last paragraph and flashback to a statement made by former Premier Cox when asked if the Current Account should be balanced, said this, “I think it’s easy to make it balance, but I’m not sure that is responsible. I don’t consider it a success of being a Finance Minister to have a balanced budget.”

really? perhaps finance was not her specialty with all due resoect.

By: stunned...

stunned... — Mon, 20 Jul 2015 16:33:54 +0000

the likely scenario will resemble Greece, wherein the government workers will end up with a government that is fully debt-laden and UNABLE to honour jobs, salaries, pensions, vacation pay, perks and benefits. civil servants, enjoy your benefits now while you can.

By: stunned...

stunned... — Mon, 20 Jul 2015 16:29:00 +0000

the issue here is the Bermuda government is bailing out the civil service. in effect kicking the can/bill down the road to be footed by another generation. good luck.

By: Chris Famous

Chris Famous — Sun, 19 Jul 2015 10:52:13 +0000

How much tax will the government collect from AC?

By: Chris Famous

Chris Famous — Sun, 19 Jul 2015 10:48:56 +0000

And what exactly would be the smart cost cutting measures Mr. Deacon?

By: jt

jt — Sun, 19 Jul 2015 02:17:24 +0000

Link please. As far as I know it remains unaccounted for.
If you are correct I will humbly submit, but also point out that your best defence is an admission to gross mismanagement that directly contributed to $800 million of our present debt that is completely unrelated to the world downturn and a huge part of why we continue to borrow.

By: Jus' Askin'

Jus' Askin' — Sat, 18 Jul 2015 19:33:55 +0000

The qualified audits were satisfied and that is how we came to learn of all the cost over runs

The $800 million was ‘Unaccounted For’ , “NOT STOLEN” but once all the data was finally collected, the $800 million was accounted for.

Seems people choose not to want to know

By: jt

jt — Sat, 18 Jul 2015 16:55:18 +0000

So the qualified audits were satisfied.

By: Watching #2

Watching #2 — Sat, 18 Jul 2015 16:15:50 +0000

So the PLP mishandles the budget big time and loses tons of money, wastes tons of money, leaves money not accounted for, and slips plenty off to friends and family, (such as the religious tourism boondoggle). And the OBA is left to borrow money and pay the huge interest payments on the already borrowed piles, and they scream. If they try to cut the bloated civil service, more per capita than anywhere in the world, they scream and yell. They are damned if they do, damned if they don’t. Here’s a thought. Why don’t the PLP pay back all the money they lost and we start even?

By: Peace to All

Peace to All — Sat, 18 Jul 2015 15:53:54 +0000

This was a rude reply. Please ignore.

By: frank

frank — Sat, 18 Jul 2015 15:29:37 +0000

thanks I am so glad someone understands how this world wide money game is played
nothing happens in the financial world without the rothchild family

By: Kangoocar

Kangoocar — Sat, 18 Jul 2015 10:52:03 +0000

Jt, don’t waste your time explaining anything to ” facts over political hats ” that is just another Betty from plp/Alaska hall!!! The avatar gives them away everytime!!!
Alaska hall/plp needs to stop with their constant nonsense and apologize for the mess they put us in and also stop continuing to get in the way!!! Bermuda is heading into a fiscal mess that will be worst than Greece if we don’t do something now to stop it!!!!

By: Jus' Askin'

Jus' Askin' — Sat, 18 Jul 2015 10:27:20 +0000

OBA is by far the worst thing to happen to this country. In 2 1/2 years You have past the PLP in dumb actions

Never did I think anyone would do a worst job than Paula but Bob has definitely, definitely taken the lead as WORST FINANCE MINISTER Ever

By: Jus' Askin'

Jus' Askin' — Sat, 18 Jul 2015 10:18:05 +0000

800 million has been accounted for by the Accountant General.
Stop with the lies

By: Jus' Askin'

Jus' Askin' — Sat, 18 Jul 2015 09:56:04 +0000

The Accountant General , but I guess You only listen to the negative
This matter was resolved, yet people like You will continue to keep the lie alive

By: Jus' Askin'

Jus' Askin' — Sat, 18 Jul 2015 09:49:31 +0000

We are now deeper in debt due to the borrowing with higher interest rates to pay back.

Bob gambled and We Lost.

This proves OBA had No Plan

PLP was said to have mismanaged funds, so what do we call what the OBA has done?

Economics 101 – Don’t Borrow Money to Get Out of Debt

By: Encyclopedia

Encyclopedia — Sat, 18 Jul 2015 03:10:25 +0000

You wanna bet that the facility will be used up before OBA leaves office??

By: Encyclopedia

Encyclopedia — Sat, 18 Jul 2015 03:02:37 +0000

RFP fopr this but no RFP for Airport….how nice !!

By: Bermuda123

Bermuda123 — Fri, 17 Jul 2015 22:36:38 +0000

Much of the OBA borrowing has been to pay the interest expense on the debt taken out before they became the Government. The OBA current budget is to break even before debt service. That means that the only way to pay the interest is to borrow more. The other way is to cut expenditure (of which 60% is the salaries of public sector workers). So….. Until we pay civil servants less, we need to borrow to repay interest on debts taken out. The only route is to grow the economy and increase Gov revenues. Which is BTA, BDA, Americas Cup all come in. Economics 101.

By: Keepin' it Real!...4Real!

Keepin' it Real!...4Real! — Fri, 17 Jul 2015 22:35:34 +0000

Well Greece found out that their debt wasn’t acquired to help the people it was acquired to BAIL OUT THE BANKERS…Their debt was found to be an illegal scheme…so they may get their debt forgiven…but they sure have one hell of a fight on their hands.

By: Need Peace

Need Peace — Fri, 17 Jul 2015 22:32:20 +0000

I’ve read the comments and still I’m at a loss! During the PLP’s tenure, we had many capital projects and came out with, let’s say just over $1bn. I can’t recall ANY capital projects but the OBA has surpassed that amount in almost 3 years.

I do believe the Finance Minister doth protest too much and it’s scary!!!

By: Keepin' it Real!...4Real!

Keepin' it Real!...4Real! — Fri, 17 Jul 2015 22:28:09 +0000

There is only 3 countries left on this planet that hasn’t fallen victim to the Rothschilds Central Banking system…read here why… http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/social_security/news.php?q=1320062234

By: Keepin' it Real!...4Real!

Keepin' it Real!...4Real! — Fri, 17 Jul 2015 22:19:30 +0000

Here is a list of…

ROTHSCHILD OWNED & CONTROLLED BANKS:

Afghanistan: Bank of Afghanistan
Albania: Bank of Albania
Algeria: Bank of Algeria
Argentina: Central Bank of Argentina
Armenia: Central Bank of Armenia
Aruba: Central Bank of Aruba
Australia: Reserve Bank of Australia
Austria: Austrian National Bank
Azerbaijan: Central Bank of Azerbaijan Republic
Bahamas: Central Bank of The Bahamas
Bahrain: Central Bank of Bahrain
Bangladesh: Bangladesh Bank
Barbados: Central Bank of Barbados
Belarus: National Bank of the Republic of Belarus
Belgium: National Bank of Belgium
Belize: Central Bank of Belize
Benin: Central Bank of West African States (BCEAO)
Bermuda: Bermuda Monetary Authority
Bhutan: Royal Monetary Authority of Bhutan
Bolivia: Central Bank of Bolivia
Bosnia: Central Bank of Bosnia and Herzegovina
Botswana: Bank of Botswana
Brazil: Central Bank of Brazil
Bulgaria: Bulgarian National Bank
Burkina Faso: Central Bank of West African States (BCEAO)
Burundi: Bank of the Republic of Burundi
Cambodia: National Bank of Cambodia
Came Roon: Bank of Central African States
Canada: Bank of Canada – Banque du Canada
Cayman Islands: Cayman Islands Monetary Authority
Central African Republic: Bank of Central African States
Chad: Bank of Central African States
Chile: Central Bank of Chile
China: The People’s Bank of China
Colombia: Bank of the Republic
Comoros: Central Bank of Comoros
Congo: Bank of Central African States
Costa Rica: Central Bank of Costa Rica
Côte d’Ivoire: Central Bank of West African States (BCEAO)
Croatia: Croatian National Bank
Cuba: Central Bank of Cuba
Cyprus: Central Bank of Cyprus
Czech Republic: Czech National Bank
Denmark: National Bank of Denmark
Dominican Republic: Central Bank of the Dominican Republic
East Caribbean area: Eastern Caribbean Central Bank
Ecuador: Central Bank of Ecuador
Egypt: Central Bank of Egypt
El Salvador: Central Reserve Bank of El Salvador
Equatorial Guinea: Bank of Central African States
Estonia: Bank of Estonia
Ethiopia: National Bank of Ethiopia
European Union: European Central Bank
Fiji: Reserve Bank of Fiji
Finland: Bank of Finland
France: Bank of France
Gabon: Bank of Central African States
The Gambia: Central Bank of The Gambia
Georgia: National Bank of Georgia
Germany: Deutsche Bundesbank
Ghana: Bank of Ghana
Greece: Bank of Greece
Guatemala: Bank of Guatemala
Guinea Bissau: Central Bank of West African States (BCEAO)
Guyana: Bank of Guyana
Haiti: Central Bank of Haiti
Honduras: Central Bank of Honduras
Hong Kong: Hong Kong Monetary Authority
Hungary: Magyar Nemzeti Bank
Iceland: Central Bank of Iceland
India: Reserve Bank of India
Indonesia: Bank Indonesia
Iran: The Central Bank of the Islamic Republic of Iran
Iraq: Central Bank of Iraq
Ireland: Central Bank and Financial Services Authority of Ireland
Israel: Bank of Israel
Italy: Bank of Italy
Jamaica: Bank of Jamaica
Japan: Bank of Japan
Jordan: Central Bank of Jordan
Kazakhstan: National Bank of Kazakhstan
Kenya: Central Bank of Kenya
Korea: Bank of Korea
Kuwait: Central Bank of Kuwait
Kyrgyzstan: National Bank of the Kyrgyz Republic
Latvia: Bank of Latvia
Lebanon: Central Bank of Lebanon
Lesotho: Central Bank of Lesotho
Libya: Central Bank of Libya
Uruguay: Central Bank of Uruguay
Lithuania: Bank of Lithuania
Luxembourg: Central Bank of Luxembourg
Macao: Monetary Authority of Macao
Macedonia: National Bank of the Republic of Macedonia
Madagascar: Central Bank of Madagascar
Malawi: Reserve Bank of Malawi
Malaysia: Central Bank of Malaysia
Mali: Central Bank of West African States (BCEAO)
Malta: Central Bank of Malta
Mauritius: Bank of Mauritius
Mexico: Bank of Mexico
Moldova: National Bank of Moldova
Mongolia: Bank of Mongolia
Montenegro: Central Bank of Montenegro
Morocco: Bank of Morocco
Mozambique: Bank of Mozambique
Namibia: Bank of Namibia
Nepal: Central Bank of Nepal
Netherlands: Netherlands Bank
Netherlands Antilles: Bank of the Netherlands Antilles
New Zealand: Reserve Bank of New Zealand
Nicaragua: Central Bank of Nicaragua
Niger: Central Bank of West African States (BCEAO)
Nigeria: Central Bank of Nigeria
Norway: Central Bank of Norway
Oman: Central Bank of Oman
Pakistan: State Bank of Pakistan
Papua New Guinea: Bank of Papua New Guinea
Paraguay: Central Bank of Paraguay
Peru: Central Reserve Bank of Peru
Philip Pines: Bangko Sentral ng Pilipinas
Poland: National Bank of Poland
Portugal: Bank of Portugal
Qatar: Qatar Central Bank
Romania: National Bank of Romania
Russia: Central Bank of Russia
Rwanda: National Bank of Rwanda
San Marino: Central Bank of the Republic of San Marino
Samoa: Central Bank of Samoa
Saudi Arabia: Saudi Arabian Monetary Agency
Senegal: Central Bank of West African States (BCEAO)
Serbia: National Bank of Serbia
Seychelles: Central Bank of Seychelles
Sierra Leone: Bank of Sierra Leone
Singapore: Monetary Authority of Singapore
Slovakia: National Bank of Slovakia
Slovenia: Bank of Slovenia
Solomon Islands: Central Bank of Solomon Islands
South Africa: South African Reserve Bank
Spain: Bank of Spain
Sri Lanka: Central Bank of Sri Lanka
Sudan: Bank of Sudan
Surinam: Central Bank of Suriname
Swaziland: The Central Bank of Swaziland
Sweden: Sveriges Riksbank
Switzerland: Swiss National Bank
Tajikistan: National Bank of Tajikistan
Tanzania: Bank of Tanzania
Thailand: Bank of Thailand
Togo: Central Bank of West African States (BCEAO)
Tonga: National Reserve Bank of Tonga
Trinidad and Tobago: Central Bank of Trinidad and Tobago
Tunisia: Central Bank of Tunisia
Turkey: Central Bank of the Republic of Turkey
Uganda: Bank of Uganda
Ukraine: National Bank of Ukraine
United Arab Emirates: Central Bank of United Arab Emirates
United Kingdom: Bank of England
United States: Federal Reserve, Federal Reserve Bank of New York
Vanuatu: Reserve Bank of Vanuatu
Venezuela: Central Bank of Venezuela
Vietnam: The State Bank of Vietnam
Yemen: Central Bank of Yemen
Zambia: Bank of Zambia
Zimbabwe: Reserve Bank of Zimbabwe

By: Keepin' it Real!...4Real!

Keepin' it Real!...4Real! — Fri, 17 Jul 2015 22:10:20 +0000

Is there an HSBC in Bermuda???

By: Keepin' it Real!...4Real!

Keepin' it Real!...4Real! — Fri, 17 Jul 2015 22:08:17 +0000

But he’s speaking the truth…and I’ve always said the truth is rarely popular…The central banking system OWNS YOU AND YOUR FUTURE….So wake da f#@& up idiot!.

By: Rhonda

Rhonda — Fri, 17 Jul 2015 21:51:30 +0000

Don’t forget to add, that the hotel occupancy tax that once went to the government coffers, now goes to the BTA.

By: jt

jt — Fri, 17 Jul 2015 21:49:55 +0000

When and by whom?

By: Jus' Askin'

Jus' Askin' — Fri, 17 Jul 2015 21:33:51 +0000

You really believe that?
We got ourselves in this mess

By: jt

jt — Fri, 17 Jul 2015 21:07:36 +0000

You and others must accept the degree to which present borrowing relates to past borrowing.
Present attempts to grow the economy and to cut expenses have been met with extreme resistance. Don’t call it a lack of a plan merely because you disagree with the path.

By: Alvin Williams

Alvin Williams — Fri, 17 Jul 2015 21:01:16 +0000

The PLP got us in this mess; but the borrowing of the OBA government is more saintly than theirs?

By: Jus' Askin'

Jus' Askin' — Fri, 17 Jul 2015 20:52:30 +0000

So let everyone know, how much we owe

By: TravelingTreeFrog

TravelingTreeFrog — Fri, 17 Jul 2015 20:36:42 +0000

*instert blank stare emoji*

Bermuda doesn’t have a central bank. We cannot print more money… nor is that the answer. And as opposed to fiat money you suggest we go back to carrying gold coins and bartering with bushels of wheat?

I guess I need the fractional reserve banking 101 lesson…

By: Starting Point

Starting Point — Fri, 17 Jul 2015 20:05:54 +0000

the ministers could work for zero and it would have no impact.

Bermudians lack of understanding of how much we owe is the problem.

By: sonso

sonso — Fri, 17 Jul 2015 19:55:36 +0000

Cuz calling people idiots will get you far in conversation…

By: Terry

Terry — Fri, 17 Jul 2015 19:51:13 +0000

What the hell are you talking about.
“control the narrative”.

I merely post a few comments.

Have you read “To Kill A Mockingbird” ?

If not wait a few weeks and order “Set A Watchman by Harper Lee.

No wonder Bermuda is so messed up.

By: Ed

Ed — Fri, 17 Jul 2015 19:42:55 +0000

Speak for yourself troll.

By: AJ

AJ — Fri, 17 Jul 2015 19:40:55 +0000

The last PLP deficit was over $400 million ($6500 for each of us) and they promised to keep spending constant for 3 years post-election so the PLP promised $1.2 billion in deficits in their first three years.

You an be angry at the OBA, but if that’s the case you should be more angry at the PLP.

By: TonyC

TonyC — Fri, 17 Jul 2015 19:40:20 +0000

Don’t forget the half day off W&E get soon for a party at Clearwater.

By: know dat

know dat — Fri, 17 Jul 2015 19:36:31 +0000

Word

By: Impressive

Impressive — Fri, 17 Jul 2015 19:25:20 +0000

An insulting one at that..

By: Onion

Onion — Fri, 17 Jul 2015 19:20:20 +0000

If the AC generates $250 million in economic activity the Bermuda government takes home about 18% of Bermuda GDP so the AC will create ~$45 million in tax. Of that $75 million $25 is sponsorship guarantee, leaving $50 out of pocket, of which $45 million will come back in tax.

Net cost of the AC will be $5 million when it is all said and done, and that will come back to Bermuda (and then some) with the permanent long-term tourism boost.

By: Facts over Political hats!!

Facts over Political hats!! — Fri, 17 Jul 2015 19:11:33 +0000

This borrowing clearly indicates that the

OBA has NO “ECONOMIC RECOVERY PLAN” to grow our economy.

OBA has NO Plan to Diversified our Ecomony.

The OBA called out that PLP was doing nothing but borrowing. …..but looks like they have put done the PLP.

Bermuda must explore alternative ways to generate Revenues Sources. This current path will not work.

As MP Leah Scott the OBA must stop playing the “Blame Game”, accept responsibility for the economy after 3 years as the government and get on with a plan…..

By: Lala

Lala — Fri, 17 Jul 2015 19:02:32 +0000

Actually I am afraid that Ed’s correct

By: Jus' Askin'

Jus' Askin' — Fri, 17 Jul 2015 18:15:42 +0000

Ministers as well should take a pay cut. Start from the top for once

By: watchmen

watchmen — Fri, 17 Jul 2015 18:12:59 +0000

Troll…

By: watchmen

watchmen — Fri, 17 Jul 2015 18:11:45 +0000

You seem to post everyday…could one on the other side of the divide not consider you a troll?

You do not get to control the narrative.

Shalom.

By: watchmen

watchmen — Fri, 17 Jul 2015 18:09:56 +0000

And what are you spreading? Anything useful? Anything Fact based?