Friday November 7, we woke up to a major headline carried by all the local news outlets in Jamaica and around the world. It was “Cable & Wireless buys Columbus International.”
“ British telecoms firm Cable & Wireless Communications, parent company of LIME, on Thursday agreed to buy Barbados-based peer Columbus International, operators of Flow Jamaica, for US$1.85 billion. CWC said it will also assume US $1.17 billion of Columbus debt, taking the total value of the transaction to US $3.02 billion. London-listed CWC will pay $707.5 million in cash, with the rest in shares. It will fund the acquisition via a share placing totaling ten percent of the group.”
Three BILLION dollars for a company that provides telecommunication services a lot of Jamaicans view as disservice rather than their service is staggering. Comments made by the average Joe on the street primarily centered around one thing..’they hope the service will improve.” What is totally lost to him was the hidden crime being committed blatantly in his face, the crime of money heroin!
Cable & Wireless is only one of the big players in a world created and run by Banks, monopolies and oligarchies, to prostitute their wealth in public making an announcement of considerable financial transaction. Days before, another of the addicts, Grace Kennedy, reported $57 billion revenue in their 3rd quarter earnings, and another Scotiabank, enjoyed its own injection by announcing on one hand major investment in Jamaica by raising J$1Billion dollars in financing for shipping tycoon Jamaica Producers Group whilst on the other announcing that they will close several branches in the Caribbean. And this is just Jamaica. Imagine the world transactions by their wealthy friends.
This kind of news would have passed over the average Joe’s head and understandably so. The quantity of money these boys talk about are beyond his understanding and perception. But what the news media, also owned by rich oligarchies, and the system fail to do is to enlighten him on who is paying for this big money ticket? Where does all this money come from? Once upon a time financial language spoke in millions and at the time such utterances were beyond comprehension. Now the language is Billions and Trillions equating a Million to a mere petty cash transaction. The answer to that question of WHO is simple, HIM, Joe Blow, the average man toiling, borrowing, paying taxes, swiping, purchasing cable, buying Grace products, excessively talking on his phone, HE is the one that makes these transactions possible whilst the addicts shoot up themselves, offering more, acquiring more, spending more, reaping more and smiling as the profits keep rolling in. You ask yourself when is enough, enough? For an addict, it is NEVER enough.
Stop and think for a minute. How did this all begin? How did we become so dependent on a piece of paper printed with pictures on it? Who started all of this? History will tell you 2700 years ago someone came up with the idea of using metal to fashion into coins to be used for money to trade for the things people would need. It’s simple – I need a horse, you have a horse and you need some crops which I have. We arrive at how many coins we want for each item, we pay each other and we smile and go home. No one was hurt in that transaction, everyone slept well. The Chinese invented paper years later and it was only a matter of time money was now printed on paper to make life easier but if you are lucky to have it, you are lucky!
Wealth over time has evolved to mean many things to many people but one thing that has not changed is the truism that He who has wealth, Has power, so the accumulation of wealth which has become the favorite pastime of most, has become the successful race of the few and the runners in the race are aided by the suppliers of this heroin, the Banks. These bad boys tell you to give them your wealth, your money, whilst they in turn use it and then ask you to pay them for using your money. We give it to them without complaint. Their pockets fatten and with their wealth they create more wealth using your money. The astute and connected people take this money from the Bank to create services and products they say you need thus creating their wealth, whilst Joe Blow in turn goes back to the Bank to borrow his money to purchase the products and services that his money helped produce in the first place. You see the mess?
It is all one big circus of what is seen as legitimate transaction, but in reality is a junkie party, creating oligarchies like Cable and Wireless and a good neighbourly friend like the JPS, and those other FAT BOYS that have accumulated excessive wealth. Together they lie in bed with government whose job it is to maintain the status quo giving them the opportunity to reap more from Joe Blow’s pockets, just like an addict on alcohol and drugs. They are junkies, money junkies and they cannot get enough. The banks supplies the Big Boys with the money and the Bank’s profits soar. They are all hooked on money, money heroin. These boys are not titans of the industry as many would like to describe them , they are just better at playing the game, a bunch of guys spending Billions of dollars for what? Billions in bonuses for what? So you have money junkies on one hand and power junkies on the other, the latter is otherwise called government.
All this started from Joe Blow trusting the Banks, giving them his money, and the Banks using it for something else. What an ingenious system? The Banks, in partnership with Cable & Wireless, seem to be saying to the public …..
“‘Our aim is to promote development, offering higher efficiencies to compete in the global market, blah blah blah….”
We become slaves to the system created and controlled by the Banks and managed by the oligarchies like Cable & Wireless whose sole concern is to make a profit, taking the coins from the pockets of the gullible global market of Jamaican citizens that love to talk.
How can we solve this problem of socialism for the rich and capitalism for the poor? The government will tell you it is a good deal and we should continue with their services . They will also tell you to tighten up on our spending, buckle up and better will come. The problem with that is if Joe Blow must tighten up why aren’t the big boys tightening up? The answer to that is the rich are ‘creating jobs’. The usual trickle down theory that in essence means while the big boys spend it will somehow benefit Joe Blow. To use a more real example , when Cable and Wireless buys Flow it will somehow benefit the consumers and workers in the long run. What the government will not tell you is that there is another solution and that is to cut the benefits to the Bank to create money out of nothing. Why? Simple, because they can afford to.
Banks are the most protected and subsidized businesses in Jamaica and the world, yet they make money out of nothing and out of lending, sometimes foolish lending. Have you ever seen any Bank head office lately? They are marvels in architecture. Banks control, own and run the entire digital money system. Joe Blow is convinced to take out a credit card, further putting him in debt, one that he will never pay off . You would think banks would channel their money in the things Jamaica really needs like schools, public transport and hospitals but sadly Banks don’t want the credit, they want the debt. If it does not make them a profit, they are not interested. It can be argued that because of the Banks, the over spending on items we do not need or cannot afford helped in causing the present economic instability in our balance of payments, and now Joe Blow is being asked to pay for it. Never forget it was the Banks that caused the world economic meltdown, a problem they collectively came out of that furnace burn free, whilst Joe Blow once again had to pay for the Bank’s sins.
The aim of the Bank in this business transaction is simple- control the debt that this transaction will produce. The real value, the true value is the debt that will be created, a debt that Joe Blow will ultimately pay for through the over priced services Cable and Wireless will deliver. The bank controls the debt, Cable & Wireless controls the people, the Big boys control everything. In other words, Joe Blow will be a slave to this debt. Joe Blow is once again screwed!
Can we continue to live with less while the banks and their friends get more? Can we afford to tie our belt while the big boys loosen theirs and expand their profits? The IMF, another bank, says yes we can. Look at who is talking, the IMF, that beast of insatiable hunger for greed and money, devouring poor countries consuming their debts as collateral whilst implementing their draconian policies that will never see the light of the economic table.
We have another option. Personally I do not trust these banks holding the reign to our economy. Our debt is forever increasing, never to be reduced. The Bank’s ability to create invisible money and controlling debt must stop. The debts are suicidal. The hohini economy only works in their favor. If public institutions take over the creation of money, then this money can be channelled and directed to support jobs and the economy , reducing our national debt in real time, steering our economic recovery. We spend on the things that matters to us in this country. We cannot continue to subsidize the rich in order for them to fatten their pockets. We can have a democracy in Jamaica where all men are given the same opportunity and wealth distributed equally creating jobs, paying measurable earnings and tackling issues in our society that matters to all or we can have great wealth concentrated in the hands of a few. But frankly we cannot have both.
I agree with Plato. In an oligarchy society where the poor is exploited by the elite and rich, you get social maladjustment and disunity, growing oppression and growing bitterness, high crime ending in revolution. It seems to me Plato’s words may just be prophetic to Jamaica.
Get ready for wars in the name of the free Vaccinations for the illness that will never be
The assault on your children’s impressionable minds And a microchip world , you’ll put up no fight
Information suppression will keep you in toe Depopulation of peasants was always our goal
But eugenics was not what we hoped it would be Oh yes it was us that funded the Naziis
But as long as we own all the media too What’s really happening does not concern you
So just go on watching your plasma TV And the world will be run by the ones you can’t see. ”
(c) The Banker by Craig-James Moncur.
Written by Paul Tomlinson
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