Millions of Free Zone dollars finally unfrozen
dean barrow
It’s the last sitting of the House of Representatives for the year. Perhaps because it is the Christmas season, both sides of the House were restrained in their rhetoric. But we’ll start with perhaps the big news of the day, which is the that new arrangements are being put in place to allow for US dollar deposits from businesses in the Commercial Free Zone. Many were in jeopardy of shutting down because businesses were unable to make deposits in US dollars and financial transactions with their counterparts in China, Panama and the United States could not take place. Currency, which at the zone was mostly in US dollars, is normally deposited into the banks in the zone and then later transferred to the Central Bank of Belize. The Central Bank would then conduct overseas transactions with a number of lending institutions. But the trouble emerged when the Hong Kong Shang Hai Banking Corporation, which did the transactions for the zone, did not renew its contract to conduct the money transfers. Today Barrow said that the government’s intervention to resolve the problem is significant for the free zone.
Dean Barrow
“Without it the zone was going to collapse. So it is quite a relief and it is quite a coo.”
Patrick Jones, Love FM
“Who was the bank that you were able to get to work with Belize and who are the others you are currently courting?”
Dean Barrow
“It is the Federal Reserve Bank of New York and there are at least two other banks with which the Central Bank are engaging; one is Bank of America and the other is a bank that I believe is called Commerce Bank out of Europe, out of Germany, so that might be commerce with a C, I don’t know, but which has offices worldwide and certain regional offices. HSBC discontinued their engagement in these corresponding banking relationships globally—the relationships that allowed for the cash transfers as a consequence of their own problems in the United States. So it had nothing to do with our jurisdiction, it had nothing to do with any of the jurisdictions from which it was drew. It was their problem. In the same way we have been scrambling to put in place a replacement relationship, so have the other Central American countries, so have other Latin American countries.”
Marion Ali
“Prime Minister can this problem can always recur and is there anything that we can do to prevent it from so doing?”
Dean Barrow
“Well the problem can always recur if the Federal Reserve Bank of New York is not happy with any aspect of the relationship with the Central Bank, but it is not likely because the Central Bank is extremely professional, extremely careful and the Central Bank in my view will never act in a manner that will put that relationship at risk. To some extent though, there are some matters that are beyond the control of the Central Bank because remember what is happening; this is basically something that the commercial banks should be doing. They in the normal course ought to have the relationship that allows them to transfer their U.S. cash to the United States. They have had their relationships discontinued a long time before. That is why the Central Bank had to step into the breach in the first place.”
THE U.S FEDERAL RESERVE IS A SCAM
This institution along with the IMF, WB, and IMF were created to control the world.
[ I ENCOURAGE ALL BELIZEANS TO WATCH THE VIDEOS ON THIS WEBSITE AND SHARE IT TO ALL THEIR CONTACTS: http://www.documentarywire.com/category/nwo-world-government/ ]
THE U.S. IS THE GREATEST THREAT TO WORLD PEACE.
[WikiLeaks’ lesson on Haiti:::: What the US embassy cables reveal about Washington’s malign influence should make Latin American nations quit the UN force http://www.guardian.co.uk/commentisfree/cifamerica/2010/dec/17/haiti-wikileaks ]
you have to admit, the U.S. has been rather involved in Latin America and the Caribbean over the years, especially during the 70’s and 80’s. I give you a quick run through:
1970
Salvador Allende Gossens elected in Chile. Suspends foreign loans, nationalizes foreign companies. For the phone system, pays ITT the company’s minimized valuation for tax purposes. The CIA provides covert financial support for Allende’s opponents, both during and after his election.
1972
U.S. stands by as military suspends an election in El Salvador in which centrist José Napoleón Duarte was favored to win. (Compare with the emphasis placed on the 1982 elections.)
1973
U.S.-supported military coup kills Allende and brings Augusto Pinochet Ugarte to power. Pinochet imprisons well over a hundred thousand Chileans (torture and rape are the usual methods of interrogation), terminates civil liberties, abolishes unions, extends the work week to 48 hours, and reverses Allende’s land reforms.
1973
Military takes power in Uruguay, supported by U.S. The subsequent repression reportedly features the world’s highest percentage of the population imprisoned for political reasons.
1974
Office of Public Safety is abolished when it is revealed that police are being taught torture techniques.
1976
Election of Jimmy Carter leads to a new emphasis on human rights in Central America. Carter cuts off aid to the Guatemalan military (or tries to; some slips through) and reduces aid to El Salvador.
1979
Ratification of the Panama Canal treaty which is to return the Canal to Panama by 1999.”Once again, Uncle Sam put his tail between his legs and crept away rather than face trouble.” –Ronald Reagan
1980
A right-wing junta takes over in El Salvador. U.S. begins massively supporting El Salvador, assisting the military in its fight against FMLN guerrillas. Death squads proliferate; Archbishop Romero is assassinated by right-wing terrorists; 35,000 civilians are killed in 1978-81. The rape and murder of four U.S. churchwomen results in the suspension of U.S. military aid for one month. The U.S. demands that the junta undertake land reform. Within 3 years, however, the reform program is halted by the oligarchy. “The Soviet Union underlies all the unrest that is going on.” –Ronald Reagan
1980
U.S., seeking a stable base for its actions in El Salvador and Nicaragua, tells the Honduran military to clean up its act and hold elections. The U.S. starts pouring in $100 million of aid a year and basing the contras on Honduran territory. Death squads are also active in Honduras, and the contras tend to act as a state within a state.
1981
The CIA steps in to organize the contras in Nicaragua, who started the previous year as a group of 60 ex-National Guardsmen; by 1985 there are about 12,000 of them. 46 of the 48 top military leaders are ex-Guardsmen. The U.S. also sets up an economic embargo of Nicaragua and pressures the IMF and the World Bank to limit or halt loans to Nicaragua.
1981
Gen. Torrijos of Panama is killed in a plane crash. There is a suspicion of CIA involvement, due to Torrijos’ nationalism and friendly relations with Cuba.
1982
A coup brings Gen. Efraín Ríos Montt to power in Guatemala, and gives the Reagan administration the opportunity to increase military aid. Ríos Montt’s evangelical beliefs do not prevent him from accelerating the counterinsurgency campaign.
1983
Another coup in Guatemala replaces Ríos Montt. The new President, Oscar Mejía Víctores, was trained by the U.S. and seems to have cleared his coup beforehand with U.S. authorities.
1983
U.S. troops take over tiny GRANADA. Rather oddly, it intervenes shortly after a coup has overthrown the previous, socialist leader. One of the justifications for the action is the building of a new airport with Cuban help, which Granada claimed was for tourism and Reagan argued was for Soviet use. Later the U.S. announces plans to finish the airport… to develop tourism.
1983
Boland Amendment prohibits CIA and Defense Dept. from spending money to overthrow the government of Nicaragua– a law the Reagan administration cheerfully violates.
1984
CIA mines three Nicaraguan harbors. Nicaragua takes this action to the World Court, which brings an $18 billion judgment against the U.S. The U.S. refuses to recognize the Court’s jurisdiction in the case.
1984
U.S. spends $10 million to orchestrate elections in El Salvador– something of a farce, since left-wing parties are under heavy repression, and the military has already declared that it will not answer to the elected president.
1989
U.S. invades Panama to dislodge CIA boy gone wrong Manuel Noriega, an event which marks the evolution of the U.S.’s favorite excuse from Communism to drugs.
For more info visit Center for Economic and Policy Research (CEPR) website!
Well, looks like in the mist of giving himself a pat on the back for doing his job the PM has stopped to address the reason for the money freeze at the free zone. It’s a wonder why he didn’t provide this level of selective transparency in the very begining so that concerned citizen could get his imput on what was going on and what was being done to fix the situation. The PM was being very proactive in releasing his ban/embargo againts channel 5 yet in this matter his statement seems to be reactive to the comments circling about why the freeze took place. Note his statement about HSBC having problems in the US and it having nothing to do with the goings on in our jurisdiction. Hahaha could it be that Mr. Barrow is reading the comments made here, one could only hope! Below is his statement taken from ch7 where he gives himself a hearty pat on the back!
“New arrangements have been concluded. The money will be taken out of the country to the Federal Reserve Bank in New York and so the crisis is over. I have assured the merchants. It’s another crisis that the government has solved.”