Comments on: OBA: New Bank Class Plans Raise “Red Flags” https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/ Bermuda's #1 source for 24/7 breaking news, photos & videos Fri, 10 Apr 2026 18:37:28 +0000 hourly 1 http://wordpress.org/?v=3.7.5 By: Ttyl https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4100183 Thu, 05 Jul 2018 17:02:49 +0000 http://bernews.com/?p=774558#comment-4100183 So your trying to say they haven’t signed not one commitment? Smh I’m not going to argue with a bunch of trolls

]]> By: Ttyl https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4100178 Thu, 05 Jul 2018 17:01:33 +0000 http://bernews.com/?p=774558#comment-4100178 They signed agreements and contracts with money involved. If you don’t understand how contracts work I suggest YOU keep your mouth closed. And have you seen anything stating the money isn’t here yet? And you implying that it isn’t here yet doesn’t mean it’s not coming. Again you oba trolls and your vague lying statements that can’t even hold air yet alone water.

]]> By: Ok https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4098827 Thu, 05 Jul 2018 09:58:08 +0000 http://bernews.com/?p=774558#comment-4098827 Good for you jacka$$! It’s because of investors like you that drives up consumer costs! And I am cash only – should not use your credit card system!

]]> By: Double S https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4095262 Wed, 04 Jul 2018 13:19:18 +0000 http://bernews.com/?p=774558#comment-4095262 Hahahaa. MoUs are not legally binding commitments and not one investment has hit our shores. Such sheep you fan guys are.

]]> By: shrew https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4095102 Wed, 04 Jul 2018 12:23:13 +0000 http://bernews.com/?p=774558#comment-4095102 hahahah. NO MONEY is here yet dude! the PLP can sign whatever they want but until actual money is here and is being spent keep your pie hole shut. stop drinking the green juice.

]]> By: The Original Truth™ https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4095037 Wed, 04 Jul 2018 12:00:03 +0000 http://bernews.com/?p=774558#comment-4095037 Yeah, $250,000 max in each bank you have an account in.

Most don’t even have that much in a bank so they get the full back.

Do you know what you get back if scammed in crypto? I do. You get zip, zero, nada, nichts, nil, nothing. How many more ways can I say it until you understand the difference.

It’s fine that you use derogatory names against me because I don’t feel so bad calling you what you are. You deserve the name that us real investors call someone who believes they made a good investment when they haven’t.

You are what we investors call a Bagholder & you can look that one up too.

BTW because I’m a REAL INVESTOR every time you pay a electricity bill, airport fees, a meal at KFC or buy something from amazon you pay me. So, thank you bagholder.

]]> By: Miami Beach https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4094929 Wed, 04 Jul 2018 11:23:20 +0000 http://bernews.com/?p=774558#comment-4094929 “billions annually” LOLOL

During the construction phase many business will benefit we can agree on this it’s normal. However on a more serious point this airport is not going to produce a BILLION annually which means every year after it’s built.

]]> By: Dumba$$ https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4093253 Wed, 04 Jul 2018 00:49:14 +0000 http://bernews.com/?p=774558#comment-4093253 Because they were not regulated jacka$$ – that’s the whole point of Bermuda being regulated! Some real stupid people live on this Island!

]]> By: Cmon https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4093240 Wed, 04 Jul 2018 00:44:34 +0000 http://bernews.com/?p=774558#comment-4093240 FDIC only insures up to a certain amount of deposits on account! Read a book jacka$$ and shut up!

]]> By: smile https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092707 Tue, 03 Jul 2018 21:32:28 +0000 http://bernews.com/?p=774558#comment-4092707 I do not think our Minister of finance has a particularly strong understanding of the risks surrounding cryptocurrencies.

OR he does realize this is potentially a bad idea but enjoys feeding spin to the people…….. “Millions of dollars in scholarships to train Bermudians” in Fintech. Give me a break.
See the bloomberg article below showing that 92% of Cryptocurrency companies that had over $50mil market caps were a) scams b) Failed or c) Dead

Good luck Bermuda. Hopefully Burt doesn’t do too much damage to the islands reputation.

https://www.bloomberg.com/news/articles/2018-06-28/crypto-coin-graveyard-fills-up-fast-as-icos-meet-their-demise

]]> By: The Original Truth™ https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092684 Tue, 03 Jul 2018 21:25:05 +0000 http://bernews.com/?p=774558#comment-4092684 I understand that it’s impossible for someone to change a distributed ledger but it’s not impossible to counterfeit a crypto and then trade the counterfeit on a ledger. I’ve only dabbled into crypto slightly & that was one experience I had. The company claimed it was an outside job but that doesn’t make me feel any better. Now my money is stuck because I don’t like cashing out at a loss. I’m glad I only put in a gambling amount but I feels sorry for those who use crypto as an investment & put in real savings.

Another type of fraud is a pump & dump. I have not experienced this with cryptos but have with a security. SEC helped me get my money back but I can imagine this in crypto & no regulatory system like sec to track down who did the dump. It would be easy to do if a group got in on the initial offer then pumped the crypto to a good strike price then dump & cash out quickly.

Then there’s all the gas fees that I have lost on transferring my crypto to cold storage or to trading sites. I understand it all to be a rip off from my experience.

I’ve had much more success with securities & would recommend anyone to invest in them before thinking about cryptos.

]]> By: The Original Truth™ https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092605 Tue, 03 Jul 2018 20:58:35 +0000 http://bernews.com/?p=774558#comment-4092605 What Skyport is doing will attract more airlines to Bermuda & better flight deals. This will bring more air arrivals. More air arrivals will bring billions in profit.

]]> By: The Original Truth™ https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092584 Tue, 03 Jul 2018 20:50:08 +0000 http://bernews.com/?p=774558#comment-4092584 No lie spreading. You’re just clueless.

Federal Deposit Insurance protects banks against bank fraud & Securities and Exchange Commission protects against stocks, bonds & other securities fraud.

There’s no commission to protect crypto investors. You get scammed & there’s no one to get it back for you.

https://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corporation

https://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commission

]]> By: Michigan Beach https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092489 Tue, 03 Jul 2018 20:18:07 +0000 http://bernews.com/?p=774558#comment-4092489 Plenty of banks work with crypto. In fact, most have their own crypto departments. Property licensing and legislation is needed so that everyone knows the ground rules and company’s can proceed with proper due diligence and setup internal compliance standards.

]]> By: Michigan Beach https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092480 Tue, 03 Jul 2018 20:15:34 +0000 http://bernews.com/?p=774558#comment-4092480 If you understood cryptocurrencies and distributed ledgers, you would not believe that.

]]> By: Michigan Beach https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092476 Tue, 03 Jul 2018 20:14:10 +0000 http://bernews.com/?p=774558#comment-4092476 A new Airport requires massive spending on planning, engineering, infrastructure improvements, labor, equipment, etc and that before the thing is even built. Then, once completed, more investment will poor in from Vendors, commercial real estate interests, and service providers, all who will hire many locals and will spend an enormous amount of money on real estate and construction. A well planned airport always benefits the local economy.

]]> By: Ttyl https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092363 Tue, 03 Jul 2018 19:34:51 +0000 http://bernews.com/?p=774558#comment-4092363 Until*

]]> By: Ttyl https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092341 Tue, 03 Jul 2018 19:26:32 +0000 http://bernews.com/?p=774558#comment-4092341 I’m just waiting for the oba to actually state facts and tell the truth. This fearmongering is past ridiculous. I mean ZERO facts to state their case just blowing hot air LIES as usual. Its getting to a point where the oba are completely laughable at this point. I mean almost every single deal the PLP have signed in regards to fintech has brought millions of dollars of investments. The entire world is moving towards fintech and cryptocurrency and you have this draconian obaubp party that can’t show you one kick of evidence that this is going to fail. Unit the Oba can provide some actual facts and evidence, nobody is going to listen to your lies.your fan club of Oba trolls will but not the rest of the island. Give it up already. Why don’t you all work on those 2000 jobs already instead of trying to get a photo Opp for building a wall that was already damaged under the oba term!

]]> By: Joe Bloggs https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092300 Tue, 03 Jul 2018 19:13:47 +0000 http://bernews.com/?p=774558#comment-4092300 I just hope Bermuda’s new class of banks does not make us the butt of jokes such a Liberia’s shipping registry does for that country.

]]> By: hmmm https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092119 Tue, 03 Jul 2018 18:05:34 +0000 http://bernews.com/?p=774558#comment-4092119 Please elaborate how a new airport will bring in BILLIONS??

]]> By: shrew https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4092090 Tue, 03 Jul 2018 17:55:26 +0000 http://bernews.com/?p=774558#comment-4092090 there is a VERY GOOD reason why no bank anywhere will open accounts for anyone or any entity doing crypto biz. just think about that for a minute.

]]> By: Cmon https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091859 Tue, 03 Jul 2018 16:30:38 +0000 http://bernews.com/?p=774558#comment-4091859 That’s BS and you know it! Just look at the too big to fail banks recently and stop spreading lies!

]]> By: Wahoo https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091851 Tue, 03 Jul 2018 16:27:05 +0000 http://bernews.com/?p=774558#comment-4091851 Maybe plp would like to accept payment in bitcoins. Yet to hear what the Wayne Furbert thinks, is he still the jr. Minister? I bet he can shed some light on it for us.

]]> By: jt https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091776 Tue, 03 Jul 2018 16:02:07 +0000 http://bernews.com/?p=774558#comment-4091776 So nothing concerns you about this. Ok then. You go right ahead and pin your personal assets to these banks. Advise all your friends to do the same. Spread the word.

]]> By: The Original Truth™ https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091689 Tue, 03 Jul 2018 15:27:04 +0000 http://bernews.com/?p=774558#comment-4091689 You don’t need to know about tech to know that something that’s not regulated by the global banking community is extremely risky & potentially fraudulent.

]]> By: The Original Truth™ https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091679 Tue, 03 Jul 2018 15:24:22 +0000 http://bernews.com/?p=774558#comment-4091679 Not in a million years. They are not regulated like the real banks are & never will be. The real banks are backed by government treasuries so if they get robbed your investments are safe. If these wannabe banks get robbed your not seeing a cent back to you.

]]> By: The Original Truth™ https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091666 Tue, 03 Jul 2018 15:20:05 +0000 http://bernews.com/?p=774558#comment-4091666 Forget about BAS Serco. $650,000 is a drop in the ocean to the billions annually Aecon’s Skyport will bring us once the new Airport is completed.

]]> By: Earth watch police https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091633 Tue, 03 Jul 2018 15:07:37 +0000 http://bernews.com/?p=774558#comment-4091633 I thought plp didn’t like foreigners from what I hear all these deals with foreigners what about us.

]]> By: frank https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091308 Tue, 03 Jul 2018 13:05:09 +0000 http://bernews.com/?p=774558#comment-4091308 will these banks be conducting business like the other banks?

]]> By: SMH https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091294 Tue, 03 Jul 2018 13:01:07 +0000 http://bernews.com/?p=774558#comment-4091294 “One that actually serves the community it profits from rather than maximizing returns at the expense of that community in favor of in faceless foreign owners.”

This happened under the plp’s last reign of issues..and you voted for them again?

LOL

]]> By: SMH https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091289 Tue, 03 Jul 2018 12:59:36 +0000 http://bernews.com/?p=774558#comment-4091289 Yup, it’s always the ‘mans’ fault…even when the PLP government is in power!
What has the government done so far? They’ve removed rights from a segment of the population…why? Because they’re bigots.
Why are you so proud of your bigotry? While the rest of the world matures, Bermuda devolves.

]]> By: SMH https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091264 Tue, 03 Jul 2018 12:50:37 +0000 http://bernews.com/?p=774558#comment-4091264 “And what does Atherden and Dunkely know about technology? Absolutely zero.”

So, they’re right there with you, the entire PLP and it’s followers….good of you to admit that you’re all clueless!

]]> By: Smith https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091248 Tue, 03 Jul 2018 12:44:31 +0000 http://bernews.com/?p=774558#comment-4091248 Yes always are look at what obaUBP cost us.

The Government had to pay out $650,000 in redundancy packages to BAS Serco staff after they did not renew the company’s contract to run the airport.

]]> By: Smith https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091236 Tue, 03 Jul 2018 12:40:26 +0000 http://bernews.com/?p=774558#comment-4091236 Dunkely knows about milk and a fake smile. Atherden knows how to follow UBP orders.

]]> By: archie https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4091097 Tue, 03 Jul 2018 11:50:36 +0000 http://bernews.com/?p=774558#comment-4091097 This: Surely even his own MPs can see the inherent dangers of this proposal?”

No, they will follow like the good little sheep they are.

]]> By: Alan https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4090910 Tue, 03 Jul 2018 10:38:08 +0000 http://bernews.com/?p=774558#comment-4090910 Well the Premier is at it, he might create a fe other new classes of bank, including:

One for the Casino and Gaming industry since the existing ones are apparently not interested.

One that serves locally owned companies without directors/shareholders having to sign away their life savings.

One that actually serves the community it profits from rather than maximizing returns at the expense of that community in favor of in faceless foreign owners.

This should be about believing in ourselves and our future and plus expecing financial institutions, especially the one that was bailed out by the earlier PLP Government with a bond guarantee, to serve the community.

]]> By: Cmon https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4090862 Tue, 03 Jul 2018 10:20:02 +0000 http://bernews.com/?p=774558#comment-4090862 “how will this impact traditional bank business”? Well for one it will introduce competition and get us into a new industry which we need for jobs and it will provide capital to lend to Bermudians. Unlike the OBA have you tried getting a loan from the banks recently? They show you the hand unless you have the right name or colour. I guess the OBA don’t want us to have an opportunity to work in high tech and accounting and other areas around Blockchain or have access to a new source of money for young people to have a chance to own a piece of Bermuda?

]]> By: Cmon https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4090838 Tue, 03 Jul 2018 10:11:25 +0000 http://bernews.com/?p=774558#comment-4090838 Keep asking questions and unless it benefits OBA members personally then don’t move it ahead. Delay, debate and deflate. That’s the OBA way!

And what does Atherden and Dunkely know about technology? Absolutely zero.

]]> By: the usual suspect https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4090767 Tue, 03 Jul 2018 09:45:27 +0000 http://bernews.com/?p=774558#comment-4090767 The world is changing beyond a phenomenal pace, as it stands bermudians don’t give useful ideas for its people on a whole, just ideas that are good for a select few. I’m guessing that someone wants to march now. This is not the most stable idea but it’s an idea with useful proportions to not just the rich bermudian, but the poor one as well. If this is not Forte, come up with something better that can be done as a collective not another solo bermudian dream.

]]> By: Stevie https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4090408 Tue, 03 Jul 2018 07:30:21 +0000 http://bernews.com/?p=774558#comment-4090408 Agree. Burt never been sensible himself. Now going to help PLP bankrupt Bermuda again.

]]> By: Wahoo https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4090255 Tue, 03 Jul 2018 06:32:02 +0000 http://bernews.com/?p=774558#comment-4090255 Plp driving our economy down the the yellow line like there is no tomorrow….wish they would think about the passenger.

]]> By: Bermudas https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4089721 Tue, 03 Jul 2018 03:03:59 +0000 http://bernews.com/?p=774558#comment-4089721 Oba has always been spot on .

]]> By: sandgrownan https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4089628 Tue, 03 Jul 2018 02:24:59 +0000 http://bernews.com/?p=774558#comment-4089628 It gives numpty nuts somewhere to launder casino money too…..

]]> By: Redrose https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4089257 Mon, 02 Jul 2018 23:58:36 +0000 http://bernews.com/?p=774558#comment-4089257 Yup, oba is spot on

]]> By: Bermewjan https://bernews.com/2018/07/oba-new-bank-class-plans-raise-red-flags/#comment-4089245 Mon, 02 Jul 2018 23:55:12 +0000 http://bernews.com/?p=774558#comment-4089245 Finally, some sensible thinking.

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