DLP BELIEVES MASSES ARE INDEPENDENT
Tuesday, April 13th, 2010NOVEMBER 15, 2007
DENIS KELLMAN’S COLUMN- THE DEBATE
For years, the masses were regarded as insignificant in the banking industry. Today the masses have shown their capacity to turn rejection into prosperity by creating the credit union movement.
This movement has been able to create a financial climate to satisfy the needs of the under-privileged. It has empowered persons who previously were rejected by the system.
The recent amendment has demonstrated that shares are limited to a “too few” and that the masses can only provide cash to be lent to persons seeking to expand and rebuild their businesses.
In Barbados, we have seen a serious contraction in the share market with these take overs and this is now a matching attack at those who have shares at the lower end to ensure that the dividends remains.
What occurred yesterday was something I have always warned developing countries about. These countries create economic activities that are more prohibitive that their competitors causing jealousy to occur.
Barbados is at a crossroad where it has given the investors who previously invested in business to earn profits and employ people to one where the business is now being divided among friends at high capital gains and the destruction of real sustainable growth.
These investors need not worry because they know that the institution capable of matching them on behalf of the masses will be limited by the dictates of politicians who have a short term eye and can only see less than a year.
The DLP will have to reverse this trend and encourage the credit unions to improve their shareholding from redeemable shares to ordinary shares so that the institution can have the resources to enter the market and create an alternative land market to the others.
Any serious Government would understand that land is now the best asset to be held and that instead of increasing liabilities for credit unions, that owner’s equity could have been increased.
The Government has failed by not creating a parallel land market and the only organized institution with the capacity is the credit union movement.
It is rather interesting that the car market has not been touched in a negative way but more money is now allocated for the purchase of such items from persons who have cash to import and sell to the credit unions members to keep them poor.
I have said before that the DLP I know believe in ensuring that the masses are independent and that the BLP is for keeping them dependent. If one doubts what I said before, one has to watch what has happened with the property transfer tax that was reduced and some scattered to the masses from the money given up by the Government pretending that it was punishing large land owners by requiring them to give up property to the poor.
All that has occurred is that Government gave up revenue for property and because it is not done by the Government directly, it cannot be criticized by the International Institutions.
Too often the masses are punished for doing the right thing. We have to ensure that we do not end up running our own to their brothers in the Caribbean. The numbers are increasing, but the land available to them is decreasing.
Land was once seen as a fixed asset, now it is seen as a tradable good. If it continues like this, social and moral decay will be on our doorstep.
It is imperative that we stop having a land bank to create scarcity and turn into a parallel market to ease the tension. Government has caused the escalation of land prices by its land tax policies and by withdrawing so much land from the market creating demand.
This Government has done the masses so much wrong when it comes to land that they cannot get a spot to rent and have to resort to squatting.
This Government has a record of moving in on the poor whenever they have accumulated wealth. They did it with the land by robbing the poor for the poor and now they are doing it to the poor man’s bank, the credit union.
Those persons who rent properties to the poor should look out because sooner rather than later your rented house will be purchased by the renter.
It seems that kindliness of heart is a crime and it is better to leave your property idle than to help someone in need. Government has given up its role and has dictated it to those who elevated themselves by listening to their parents.
I know that it is difficult for someone to live on a spot for a long time and then has to move. But surely this should be a problem for the individual or the state and not the person who rented out the property.
The history of Barbados will show that when we stopped eating and cutting our own canes, we stopped cutting canes for others. You cannot take the interest from us and then expect us to continue.
If this country is going to prosper from tourism, then Government must appreciate Community Tourism to keep interest in the industry at all levels. We expect to hide the tourist from the public and then expect them to gravitate to them.
All levels must be accepted. We must rely on the total picture to satisfy society. Our tourism must be shared and the need to include everything for a “too few” will not help the country.
As a politician, I must operate in the interest of all and fairness must be my guide. I cannot be seen destroying one group for another but must create an amicable atmosphere for all.
Banks are set up by shareholders who are not necessary depositors of the bank but can take deposits from everybody. The credit union is owned by all members and cannot take deposits from outsiders. So why tell the members how to invest their money when the y cannot deal with outsiders like the banks? Tell us the true reason for the control. Members should be free to invest their money how they feel like.
Land and business is an individual thing and credit unions should be free to do as they like because it is their democratic right and not that of outsiders.
Barbados must be for all of us and those whose fore parents created goodwill cannot be ignored. Our new found friends must be accepted also but under conditions. They must have a love for our calypso because we have accepted their culture already.
“All of we is one family”. But we must be treated so, in order for others to be treated the same way.
A business with two equal partners cannot be divided in three because the third person would have to be acting illegally. No third person can come before a shareholder without the acceptance of both partners.
If you stuff your bed with rocks instead of feathers, it is yours to sleep in.
Peace, love, unity, humility, oneness, Kellmanomics, wisdom and understanding.

Now it appears that serious thought is being given to the ways things are done at the commission, with Spencer underscoring the need for boosting the human resource and finance needs of the system as a matter of urgency.
“We have standards for our consumption and you must respect that when you bring food to Antigua. Come down on a Tuesday morning and you will see how they handle things, like garbage.” said Baptiste referring specifically to food items coming from Dominica which amount to some $7 million per year.
Browne said the party will be holding another picket tomorrow at the Prime Minister’s Office after which a public meeting will be held in the St. John’s Rural West Constituency one of the three constituencies affected by the ruling in the High Court by Judge Louise Blenman.