Tuesday, May 26, 2009



The G7 and later the G 20 seem to be manipulating the financial currency markets? The idea of the industrialized FIRST WORLD countries, is to take advantage of the second and third world developing countries. Stripping them of their foreign exchange and leaving them subservient to the G 7 and G 20. The BILDEBERG annual conferences had outlined a plan over the past five years, of economic crisis, which has just passed, and an international currency replacing main currencies and a war of some kind. The USA Military- Industrial complex want a new war it is said, all over the internet websites. For small Belize, trying to anticipate the elephants fighting is kind of difficult. We lack the expertise.
China is reported in the media of being open to an international currency. The United Nations wants to be
the owner of the world currency. Russia has changed their international reserves from the usa dollar to the Euro. ( they sell oil and gas to Europe ) The usa dollar is expected to be devalued according to some websites. The Bilderberg Group annual secret conferences were discussing scrapping the existing financial system and building something new, as a more controlled world economic system and internet websites discuss the means to do this, which seem to be taking place, over a 10 year time frame? We are about year 4 right now. None of this is going to be good for Belize.
The world seems to be topsy turvy, but you can bet your bottom dollar, that small countries like Belize are going to be ruined and enslaved, in one form or another, as a matter of normal G 7 type manipulative economic domination. As the Chinese like to say, “may you live in interesting times”.
Belize is currently indebted to the tune of a BILLION USA, or more. For a population of 300,000. We can’t blame the ROBBER BARONS, or the so-called foreign banks, it was our own stupid politicians that created our mess. Their greed and amateurishness got us where we are today. Mind you they have been manipulated by expert sales pitches of GDP encouraged sales pitch loans from G 7 controlled banks.
The Prime Minister who is also the Finance Minister, is answering media enquiries with an enigmatic reply, that all options are on the table. He is saying this about our financial situation, which is rapidly entering a crisis leap. About his dealings with our electric utility and our telecommunications monopoly. Our Finance Minister is keeping his cards close to his chest. So far in the short year and a bit, he has been in office, we can only hope he has more financial smarts than he has shown so far. The rumor mill though is very active. I’ve heard all kinds of rumors. The best one is that the Foreign BOND HOLDERS of Belize Bonds will be getting notice about the time of the lowest stock market ( October –September this year ) that the Belize Bonds will be re-financed in line with the lower G 7 and G 20 interest rates. This is being debated, at 1 ¾% interest rate, flat rate. Coming in line with the changes of the USA Federal Reserve bank rate and other international ( mostly European ) interest rates, that dropped drastically 7 months ago thereabouts. Leaving third world countries like Belize with outstanding debts at what are now ruinous interest rates, but advantageous to the financial buyers from the G 7 countries.
What those concerned with Belize financial circumstances, is the question, of our being a perpetual submissive VICTIM, in a manipulated international financial market. We may not know what is going on with the G 7 planning, or the Bilderberg Group of international countries, but we can match them reasonably well, move for move, if we were pugnacious enough. Can Belize be reactive?
That is a good question? Nothing with the UDP financial matters so far, lends any support, or faith that they can do this sort of thing. The PUP at least tried and were willing to learn. Can the UDP fight? Will they fight back? We need a CABINET with the temperament of a PEKINESE dog and the guts of an Argentinean DOGO fighting pit bull. Or the smarts of the world’s smartest currency trader.
The way I am hearing things, I kind of go along with the debate that we refinance the Belize Bonds at 1 ¾ % flat interest rate, and that our GOB offers to buy back ALL the Belize Bonds that are offered for sale, by bond holders, at .20 cents on the dollar, or up to .25 cents on the dollar in the case of the Eastern Caribbean bond holders. Either that or default in 2010 -2011?
I guess before Xmas we should know the mettle and ability of this UDP Cabinet. They have some serious decisions to make. Time is running out.

Belize says most bondholders accept debt restructuring plan

Tuesday, February 6, 2007

by Lester Pimentel

USA (Bloomberg), NEW YORK: Belize said most of the country's bondholders have accepted a restructuring offer.

Holders of 93 percent of Belize's debt agreed to exchange their bonds for securities that mature in 2029, according to a press release. The bonds will pay an interest rate of 4.25 percent in the first three years, 6 percent in the fourth and fifth years and 8.5 percent thereafter, Belize said in the statement.

"The level of debt relief requested by Belize was necessary and proportionate to the financial situation facing the country," National Development Minister Mark Espat said in the statement.

Belize said on August 2 it would seek to restructure its $960 million of international bonds. Belize spends more than 27 percent of government revenue on servicing its debt, according to Standard & Poor's.

The yield on the country's benchmark 9.5 percent bonds due 2012 was unchanged at 19.12 percent in New York last week, according Royal Bank of Canada. The bond's price, which moves inversely to the yield, was 68 cents.

On December 7, Belize's foreign currency rating was lowered to selective default by Standard & Poor's after the government proposed the bond exchange. S&P lowered Belize's long-term foreign currency rating to SD from CC and reduced the rating on the bonds in the proposed exchange to D from CC because the exchange would cease interest payments on the bonds.

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