LIFE IS AN EXPERIENCE
Wednesday, February 24th, 2010DENIS KELLMAN’S COLUMN- THE DEBATE
JULY 19, 2007
It is said that politics is not a natural science, but I honestly believe that it can be a science if we as a people learn to respect each other’s feelings. To know a man is to understand him and it is important for people to sometimes equate themselves to others. We in this world have a room for a “too few” and ignore the views of others. This causes us to ignore vital information and we find ourselves lagging behind in things when we should be steps ahead of others.
Every day in life is becoming an experience for me and I am learning the behavior of man better. Man is getting so smart that man has now believed that he can better the teaching in the Bible. I thought that after a Judas failed to betray Christ that man would have learned his limitations.
The best way to deal with man is to keep him at a distance or to ignore him for a while. This allows you to know the true science of man, because it has to do with human behavior. Once you have adopted the principle that no two persons are alike then you can easily figure out man. Too often we allow ourselves to think that man is similar, forgetting that being made with the same organs does not mean that we would think or react the same way.
Politics is about spending time understanding different human behavior. Once we understand that no two people are alike, then we can proceed and think about others. We have to understand firstly that politics is not about us, friends play a part in politics, but they must be secondary and not tertiary.
As politicians, we must first understand that friends tell you what you want to hear and not what you should know. Genuine friends tell you the truth. This sometimes creates enemies out of genuine friends, but you need not worry about them. Time has a way of proving to persons who are genuine and who are pretenders.
We sometimes need to stop and reflect on things said to us by people who we think hate us and also by persons we regard as our friends. A careful analysis would show that what we hated people for was what we did not want to face up to and what we liked others for was for the pampering.
We should be able to differentiate between what is constructive criticism and what is ego building. Too often, we accept “sweet nothings” from persons who believe that they had been exposed to the best universities. These persons seem not to understand that life is about living and not only reading. They seem not to understand the power of persons who have lived life and read life, leaving room for thinking.
In life, one must be careful how one has allowed his or her memory box to be saturated with things copied from others while not leaving room for thought. Too many times I have heard persons regurgitating things lifted from a book and when challenged cannot defend what they are espousing.
This week in the House, I had an opportunity to deal with an issue that I have been pronouncing for years and have been ignored by persons I thought would understand my position and the reason for my course of action.
I have always said that as a party, we need to demonstrate our innocence as it relates to our program for the period 1986 to 1994. We have been blamed for wrongs that we did not commit and we have allowed the guilty to be the accusers. This oversight has caused us not to be able to defend a period that we administered admirably. In essence, we gave away our goodwill.
The foreign exchange losses reported by the GAIA Inc. for the period 2005 to 2006 is immaterial as to what occurred when we borrowed the Japanese loans, and if Government had to prepare accounts using the same principles now, one would easily see that we paid out just as much or more in foreign exchange losses as we paid in principal. In real terms, we paid the principal twice and also the interest. It was if we borrowed one loan and serviced two.
I have always said that when we seek to borrow, countries like Barbados have to be very careful how and when to borrow in floating currencies. Our best bet is to borrow and service in US dollars or to deal in floating currencies when they are high.
As it stands now, any Minister of Finance could borrow floating currencies at this stage because they are high to the US dollar and the assumption can easily be made that they would decline further instead of rise.
I have always said before that we have to set up a department in the Central bank dealing primarily with currencies as it relates to our foreign reserves. Had we been holding our foreign reserves in floating currencies, we would have been in a good stead.
In the early nineties, when the Sandiford Administration borrowed the Euro loan, they were pillowed and accused by persons who were not familiar with international borrowing. These persons focused on the interest rate and paid no attention to the declining currency. The only institutions that experienced floating currencies were the Caribbean Development Bank and Barbados Sugar Industry Ltd. The Sugar Industry serviced loan borrowed by the CDB.
As a country, we have to be careful how we allow international institutions to dictate what currencies to repay or pay in. Too often, small developing countries in pursuit of loans ignore what some scholars will call minor issues only to saddle themselves with high service charges.
We have to learn the advantages and the disadvantageous of currency markets and also that international organizations are set up to suit their masters and not small players who do not register in the ratings.
We have to know our place and respect our Independence. We as small states have something to offer, but we must know how and when to.
Too many times we believe that we have to follow blindly. That is why some of us do not understand a country that never had its dollar devalued is in trouble when it allows itself to be dictated by one that has already devalued.
We have to be careful how we allow persons in large companies to make decisions that can easily change the economic climate of Barbados. Any decision to change the currency value of Barbados must come from the Government and the people of Barbados.
In the early nineties, these same players thought that our currency was too high and they were praying to see us follow them. They have a lot to export, but we import a lot. What is good for the goose is not good for the gander.
BS&T must not be allowed to change hands. The Treasury of Barbados must be used to ensure that no outside force can change our currency rating. They are some players who believe that devaluations will help them, but they do not think country.
I want to thank the Directors of Banks Holdings for their Share Split and I am suggesting that because of their future export demand that a new share issue be offered, at this time excluding BS&T, because it seems that they are more interested in cash than in shares. This is as a result of their sale of shares in Neal and Massy.
I heard recently that BS&T is merging with Neal and Massy to increase shareholders returns, but one would have thought that retaining and increasing their share of Neal and Massy, that is doing so well would achieve their goal.
It is clear to me that we need to improve the management structure at BS&T and I will only offer further comment when I hear from Sir Douglas Lynch on this matter. He has done too much to make BS&T an international player to watch it being diluted.
The Caribbean cannot be heard saying that our currency is too high and get a chance to do something about and do not act. Barbados be careful, the opportunity needed in the nineties is here, but disguised under a different mask. It is not talk now, it is hard oil cash. They did it to Guyana by taking away their best brains and now they are trying to take away our best companies. If you have to sell your shares, sell them to the local group, their offer is the best so far, or tell the Directors where to go. Barbados, I love you too much for the blue peter sharks to take over. Help us to save Barbados. BS&T is the foundation of Barbados, remove the foundation and everything comes tumbling down.
Let us not forget our fishermen who only wanted a few flying fish. This year we were able to lure them back into the waters and share them with the Tobagonians and our Coast Guard did not arrest anyone. We support CSME, but how many others support it? We must work to save Barbados. Let us stop the politics and introduce Kellmanomics. This will give power to the workers to help our investors, to help Government. We have always contributed to others, let us keep it that way.
Peace, love, unity, Kellmanomics, wisdom and understanding.




