Ecology of Central Bank’s Governor Disclosures

By Stephen Kangal
December 12, 2015
Updated: December 13, 2015

Stephen KangalThe ratio dicendi identified by Governor Jwala Rambaran for the historic and unprecedented disclosures of the highest users of the scarce, rapidly dwindling and vital stock of FOREX over the past three years may be summarized as high and compelling public interest, potential threat to the integrity of the sensitive and fragile current financial system and the CBTT’s own core remit as clearly set out in statutes and objects.

These ecological considerations that underpinned and appeared to justify his circumstantial albeit conditional disclosure of the names of private companies accessing the FOREX that is regarded as and is in fact public property or “patrimoney” may be summarized as follows:

  • The high public involvement/outcry for the resolution of the market shortage of FOREX and the range of difficulties occasioned to and suffered by citizens and companies including SME’s in their quest to conduct legitimate international transactions expeditiously;
  • The reversion to the 2014 system of FOREX distribution and allocation to banks ordered by the Minister of Finance, the release of US $500m gobbled up in a short time and the re-occurrence of the shortage at a time of intensified Xmas imports;
  • Purchases of FOREX by Venezuelan nationals for the black market trade;
  • The potential threat to the integrity of the current financial system posed by the plummeting of energy prices aggravated by the concatenation of calls for the devaluation of the $TT as a conservation antidote geared to stem the current tide of frenetic FOREX purchases;
  • The fact that the confidentiality duty of the CBTT was not carte blanche but clearly conditional as unambiguously stated in Chap 79: Section 8(6) of the Financial Institutions Act.
  • The calls made by the Prime Minister, Minister of Finance and the general public to know (“where the money gone”) the recipients/beneficiaries of the US $500m ( public property) released by the CBTT that transformed and elevated the issue into a public interest matter that now evoked the transparency and accountability duty of care of the CBTT;
  • The advent of the clutches of a recession and the consequent reduction of inflows of FOREX from the energy sector that will exacerbate and decimate the already fast dwindling stock of economic -driving FOREX below the US$10 bn mark.

Let me congratulate Governor Jwala Rambaran for mobilising the requisite testicular fortitude and courage to address the issue with full frontal nudity, surgically, creatively and in the national interest and not to have succumbed in imposed silence to the powerful capitalist ethic of commercial confidentiality even if using vital state resources.

~~~~~~~~~~~~~~~~~~

Where’s the evidence?

December 13, 2015 – trinidadexpress.com

The Sunday Express at Page 15 (under the headline “Jwala’s defence of State resources”) published a letter by serial letter writer Stephen Kangal wherein he wrote: “The calls made by the Prime Minister… to know (‘where the money gone’)… transformed… the issue into a public interest matter that now evoked the transparency and accountability duty of care of the Central Bank of Trinidad and Tobago.”

In defence of the Governor’s disturbing actions of naming persons and entities, this is your paper being used by a clever letter writer to twist the facts to suit his own agenda.

I challenge Mr Kangal to show the public where and when did the Prime Minister ever call on the Governor or Central Bank to account for “where the money gone”.

As Prime Minister, while I may have had views on this and other issues, I was very careful not to do what Mr Kangal has cleverly, though incorrectly, ascribed to the Office of the Prime Minister, to justify the unacceptable conduct of the Governor who occupies a very sensitive public office.

I have no problem with him (Mr Kangal) congratulating the Governor for demonstrating “testicular fortitude”, but I take strong objection to him making the case for these testicles by falsely ascribing to me any statement or action that would be viewed as intemperate or ill-advised on my part.

Keith Rowley
Prime Minister

35 Responses to “Ecology of Central Bank’s Governor Disclosures”


  • All this noise against Jwala is typical PNM behaviour. They did this to CJ Sharma when they hounded him out of office and others who don’t have a PNM party card.

    The PNM always destroys what it cant control. They make noise about it everyday and use their propaganda machine to release hate literature and hate speech everyday. The most powerful thing in TnT is their propaganda machine.

    The Minister of Finance needed a distraction so he is using Jwala to distract from the very bad state of the economy. Their main supporters civil servants whom Kamla emptied the treasury to please aint getting nothing from them. But that is the way the PNM always operated.

  • Take a look at the picture above (unc devotee & Hindu for christ)

    …There man in this picture refers to himself as an ‘Indian’ & African people as ‘Black’…lol….deniL can be an UGLY thing….!

    • Indians come in all shades black, white and all in between. India is a 5000 year civilization. There are even Indians with twisted hair from Madrass.

      Winnie you are projecting your own self hate on Stephen.

      • When you say ‘stephen…you mean to say ‘me’…..lol..

        Also, All ‘indians’ are descendents of east africans, the First settlers & originators of Indian Civilization…Pre-cursor to the Dravidians…All indians in Trinidad are ‘Black’!…so back to square one…why do Indians refer to themselves as ‘indian’ & africans as ‘Black’ ?? (as stephen Kangal does) The answer is hidden in plain sight…’Hindu’society despises Dark skin…indians of a caste mindset cannot reconcile their ethnic origins, natural complexion & the ideology they follow…so they pretend in their minds that their hair texture & facial features ‘trump’ & erase their blackness…hence ‘they’ (africans) are Black (ugly, nasty untouchables) but ‘We’ are Indian NOT Black (Ugly, Nasty untouchables)…Black skinned is literally sinful to the caste minded…
        How the HELL could Patrick Manning e.g. be ‘Black’ but Stephen Kangal Indian (Not Black)?? Its childish escapism…trying to pawn off ‘Blackness’ (undesirable trait to indians) on Africans?? Black is NOT a distinguishing feature between the two ethnic groups. Hair texture, facial features, religion & culture IS!

        • You obviously out to lunch, u ar projecting and stereotyping a 1.2 billion people on this planet. The 300 million untouchables love India or else they would have move to the dark continent Africa. This is an ingrained social and religious structure invented about 100 BC. As you know Winnie these constructs do not change with time easily especially if they have a religious dimension.

          TNT is not a strong communal society as India is so what you are projecting on Indians is misguided at best and it shows you own fears and insecurities. In communal societies the community dictates everything. In TNT people no long need to go to a well for water or depend on the neighbour for employment. Those constructs no longer exist. So community is there but does not have the strength as it does in India, where the caste system can thrive.

          Two of my best friends married Africana girls and another married an Africana man. The Africana women preferred Indian men because they said the Africana men does not stay, they leave after a few children. The Indian girl is attractive but here is the catch. The Africana women said the Africana man is ugly. The girl family had the same problem as the Africana women, they said he is ugly. He said the girl family racial. Lol. The long and short is they love each other and that is all that matters.

          • Lol…thanks for your contribution Moomoo….keep it coming…the more you post…the more mine are validated…

            Hope you folks are reading this..

  • While I am pleased to know how our foreign exchange is being allocated, it would have gone down better had Governor Jwala Rambaran disclosed this information during the tenure of the UNC/PP government. The foreign exchange problems that we currently face have been with us for some years and Rambaran was part of this problem while the PP government was in office.

    Declaring that we are in a recession without first consulting with the current Minister of Finance, and releasing this foreign exchange information while the PNM government holds office do not come over as the actions of an astute Governor of the Central Bank. It reeks of political maliciousness—the actions of someone who opposes the current government and is interested in creating distrust and panic in the financial sector so as to disrupt PNM governance.

    I expect UNC supporters, among others, to applaud his actions and not want to look at the timing and manner of his conduct. Had he done that while the UNC held office they would view his actions differently. Moreover, had he been an African who did that during the UNC/PP term, not only would they have called him a PNM member, but they would have screamed to high heaven claiming racism in trying to bring down the Indian government.

    • Rambaran’s reaction and disclosure was in response to Imbert’s frequent and persistent attempts to blame the Governor for the Forex problems in the country.
      Rambaran clearly exposed the source of the problem for all to see. I agree that his timing was politically motivated. After researching the role and responsibilities of the Canadian Central Bank governor, I discovered that governors operate independently when economic indicators are released to the media, even though they are technically under the supervision of the Minister of finance.

      • Rambaran clearly exposed the source of the problem

        Hardly. We still don’t know how the forex was *used*. Specifically, how much goes to fund imported goods vs how much to imported “services” vs how much goes toward repatriation of profits to foreign owners of local businesses vs how much goes to fatten foreign bank accounts of locals with accounts overseas vs how much is unaccounted for… Etc. And also, what is the *change* in these usage patterns.

        Only in the light of such analysis can it become interesting to know which particular *named* users are associated, for example, with a claim on foreign exchange without balancing expenditure on imported goods and/or real services. Even then, such disclosure is not necessary to serve a public-policy purpose. It does however clearly serve the purpose of making political mischief.

        Jwala Rambarran has clearly misconducted himself in office, playing very thinly veiled politics, at the expense of the sitting government, and of named companies that have a right and expectation of confidentiality from the Central Bank.

        Shalom.

        • “Jwala Rambarran has clearly misconducted himself in office, playing very thinly veiled politics, at the expense of the sitting government, and of named companies that have a right and expectation of confidentiality from the Central Bank.” –Yoruba

          Trinidad is an open society, in open societies transparency is very important. In close societies everything is hidden. The governor was exercising his right of informing citizens as to the state of the economy and the reason why foreign exchange goes so quickly. A lot of oil base nations are in recession but they prefer to use the word economic slow down. It is however the same thing. Nevertheless in an Information Age, open society and in the interest of transparency full disclosure is good.

          • The governor was exercising his right of informing citizens as to the state of the economy and the reason why foreign exchange goes so quickly.

            The Governor has no such “right”. No one can have a “right” to divulge matters where in fact there is rather a duty and obligation of maintaining confidentiality.

            In the case of the Central Bank Governor, at most he may have a choice between conflicting *duties* — maintaining confidentiality of individuals’ transactions on one hand, and informing the public of what they have a *need* to know.

            I say again, the public cannot have a need to know that which does not explain that which is of concern to the public. What the public needs to know is the *use* pattern of forex, and the *change* in such use pattern. That is what is needed to ferret out for example the impact of Venezuelans coming across here to access our forex market. That is what is needed to ferret out the scale of the t’iefing by the members of the last Government. How much of their t’iefing ended up in an increased demand for forex, to buy condominiums and shopping malls abroad, and to fatten forex bank accounts overseas. That is what we want to know.

            I certainly am no wiser if you tell me that PriceSmart is a big consumer of forex, or that Massy is a big consumer of forex. Of course they’ll be big consumers, but because they need to fund imports that the local public demands.

            If however their forex demand goes up, while their imports go down, that would be interesting. That would suggest they’re either increasing capital outflows, or increasing forex cash in hand. Therefore, what must be divulged is the *use* of the forex, and the *change* in the use pattern.

            On such an analysis, I need the total picture first. I don’t want to stop at no. 18 on some list of *named* users. Maybe it’s no. 19 who suddenly appears out of nowhere, and is showing no import expenditures against the forex allocation given to him, rather only a forex capital outflow.

            When a total picture is given,– of the use, and of the change of use, –then and only then would it become interesting to name individuals. Even then, the law protects the financial privacy of individuals and companies alike … up until there is malfeasance, or suspected malfeasance, and someone has a case to answer in law. Only then can a duty enter for a banker to divulge to police and possibly to public, such information as he would normally have an obligation and a duty to keep private.

            In the instant case, I say again, the Governor had a duty and obligation of confidentiality, and he has brought forward to analysis that would justify breaching that fiduciary duty. Quite the opposite, he appears to have engaged in a game of deflection, — blowing smoke — to keep hidden the real miscreants well hidden.

            Rambarran has misconducted himself in office. Rambarran must go!

            May the Most High continue to expose the wicked, and the wicked schemes that they wickedly devise, with the devilish intent of making the country ungovernable. And may He protect the innocent in this land, and bring to it the peace and comity that we all should desire.

            Shalom.

  • It is unfortunate that this issue is been seen by some as a political issue. Jwala, a UNC appointee, is seen by some supporters of the UNC as someone who should not be questioned by the new PNM government. This, because the PNM is not the government of their choice. This is evident in the author’s praise for Jwala when he states “Let me congratulate Governor Jwala Rambaran for mobilising the requisite testicular fortitude and courage to address the issue with full frontal nudity, surgically, creatively and in the national interest”. National interest? What ‘national interest’? – is it in the national interest for the Central Bank governor to expose the private details of the nation’ largest depositors? I don’t think so! What is the value of a confrontational Governor defying the wishes of the sitting government and not working in unison with them? Why has the Governor seen it fit to act in isolation by calling a recession before the end of the quarter?. Can the governor (on his own) be the only economic entity to authorize monetary policy?. The answer is no! NO doubt the input from the Central Bank is necessary in collaboration with the government, industry, commerce, leading banking institutions and financial institutions to form economic policies that would encourage growth. It is those policies that international credit rating agencies look into, to determine stability and a country’s economic rating. The nation’s interest is better served by the cooperation and not confrontation of the governor. So, in this respect Stephen KANGAL’S statement is selfish, opinionated, tribal and not in the best interest of the country. Like Ramona Radial, anytime an Indian executive clashes with an opposing government it means that it is the equivalent of ‘hounding’ or racism as is easily claimed. When one’s appointment ascribes cooperation with a team, it is ill-advised to consider selfish motives, only to distinguish oneself from the powers that be. In the case off Sharma (ex CJ), Ojah Maharaj and now Rambarran, there is a clear case of racial and party exigencies operating behind the moves to embarrass the sitting government. Kangal would not be making such a case, were the governor to be of another ethnic group. When international bodies look at the economy of Trinidad and Tobago, they look at us as One Economy. Kangal’s assertion is provocative and not at all in the public interest as he wants us to believe. It may be hindu interest, it may be Indian interest, but national interest, it is definitely NOT!

  • I certainly question the release of specific companies and their use of Forex. The governor’s call to curtail spending could have an effect on profit margin. I question his role in this regard.

  • It is amazing how one can speak refuting an image, yet reinforcing the same imaging that he has described as false.
    One of the reasons for the heightened conversations on hindutva, hindu behavior and ethnic isolation, is what appears to be a lack of solidarity in building common consensus towards nationhood. The lack of cooperation, appears to have emanated from the ancestral teachings of the hindu, who considers himself superior to the other side of the ethnic population – Africans. This is what forms the basis of the heightened arguments, forwarded by those who argue the case of non-corporation and the defenders/deniers/non-adherers of hindutva as a practice on the other hand. In defending the practice of hindutva, Mamoo insists “TNT is not a strong communal society as India is”. And to cement his denial, he assumes that the idea is somehow note present of it is the imagination of his opponents when he insinuated they are ” misguided at best and it shows you own fears and insecurities”. This “fears and insecurities” are somehow evident in all spheres of life in Trinidad where
    mores are shown to confirm an ethnic divide based on cultural and habitual behaviors. The convention is that Africans, who were stripped of their ancestral history, culture and mores of their African heritage, have adopted Trinidad as its rightful homeland.
    The hindu, on the other hand is seen as an immigrant, seeking acquisition of land, money and wealth as their primary motives. He is not seen as one who is interested in the natural landscaping of developing the country in its diverse forms and realizations of diversity. There are two words used by the hindus that highlight their meanings, equity and diversity. Equity, as used by the hindus, means that anything the Africans achieve, the hindus MUST BE GIVEN equal or greater than its share of such achievements. Diversity, as seen from the African side, is the word given by HINDUS to cement their ownership of the national resources. When the resulting behavior is applied, the word “equity” is not being equal but showing numerical superiority on the part of the hindu. The easy application of the word diversity is used to open hindu involvement whether it comes naturally or not. THIS FORMS THE BASIS OF THE ARGUMENTS BEING PUT FORWARD BY EACH SIDE. The ancestral arguments, while not directly attributed to local (hindu) behavior shows evidence of its origin. It is therefore pertinent to seek reasons for a behavior. So, in that sense Alyssa has made use of that knowledge to augment the case as most Africans understand it. Mamoo’s argument is that the hindu “does not have the strength as it does in India, where the caste system can thrive”. While a case might be made socially, religiously and culturally hindutva appears to have found a real footing in Trinidad and Tobago. I’m sure every one of us can give a story about African/Indian relationships. The natural outgrowth of racial, cultural and ethnic diversity is a social reality that defies the exactness of religious catechism and ancestral solidarity. Cases can be made both positively and negatively. Just yesterday, my brother was telling me the story os an Indian woman we grew up with. She has lost one of her legs and therefore unable to function properly. Her husband is bedridden. A rastaman comes by everyday to assist her in taking care of the husband. The Indian community in that part of Oropouche (South Trinidad), is up in arms against the woman because she allows the rastaman into her home. I am from a large family. There is an increasing mix of marriages in the family and I happen to love my nieces, nephews and in-laws that make up my family. Many of them come from the same background that I may sometimes criticize. But my criticism is not of individuals but rather of customs and habits. It pains me that this arguments causes name calling and nasty insinuations, but under it all there are issues that need to be discussed and DISCUSS WE MUST.

    • “Indian community in that part of Oropouche (South Trinidad), is up in arms against the woman because she allows the rastaman into her home”

      See I would not see that as racism, just that people do like rastas, Indians and Africans. It does not make them racist, because rastas smell.

  • Lol…thanks for your contribution Moomoo….keep it coming…the more you post…the more mine are validated…

    Mamoo’s bigotry is clear to all who are victims of it, but he and others of his ilk seem quite blind to it.

    He shows two pictures, one of women of the Mursi tribe of Ethiopia (ancient Kush), the other of some scene of Indian women out of a Bollywood movie. We are supposed to consider it self-evident, that the black ones are ugly, the bleached-out “wheatish” ones are beautiful. (That term, “wheatish”, applied to a certain skin tone, is used quite a lot in the Indian matrimonial pages, to describe high-caste and upper-caste.)

    The irony is lost on him that the Mursi are a Kushitic people, and that it was a Kushitic people that were the founding civilization of India. The Harappan people that created Mohenjo-Daro were Kushitic. There is a famous bronze which depicts the look of the Harappan people: see photo. Not very different from the Mursi women brought to our attention by Mamoo.

    Not incidentally, I find some of the Mursi women quite beautiful. But those of bigoted and brainwashed mind, like Mamoo, will not see beyond the black skin, because blackness per se, is considered ugly.

    Meantime, the founding civilization of India looked no different from the Mursi. And we, the “Negro”, although a black-skinned people, or at any rate a “nigger-brown” people, are not Kushitic, while the bigoted Mamoos are at the very least Kushitic in their mitochondrial DNA. Their maternal lines are from women that look like the Mursi. As stupid as he proves himself to be in every other post, the irony will be lost upon him.

    I am glad you take him on, Alyssa. It is a duty that someone must perform. It is wearying for me to do so, until I remind myself that my face must be to my “Negro” brethren, that we may be inoculated against the anti-black poison of this recalcitrant and disloyal sectarian minority in our midst.

    May the Most High continue to expose the wicked in our midst, and protect the innocent from the poison that the wicked seek to foist upon us.

    Shalom.

    “Are ye not as children of the Ethiopians [Kushites] unto me, O children of Israel? saith Yahweh.” (Amos 9:7)

  • Given today’s reality of how Jwala Rambarran has behaved, if his actions were against existing regulations and procedures, then he must be fired. Rambarran is one man, whom the UNC put in that position knowing he would behave in like manner. Nothing else would suffice for the UNC, if he were to behave otherwise. In accordance with Kamla’s expressed desire, they would rather see see “blood in the streets” than for the PNM to rule. This means that Kamla does not give a hoot about Trinidad and Tobago and neither does Jwala. They do not care about country, they only care about holding power. The population will not stand by and allow one man, Jwala to bring this economy down. He is seeking his interest and Kamla’s interest and the UNCs interest, not the interest of the majority of people in Trinidad and Tobago. This is what we have to be concerned about, not the ego and stubbornness of one Jwala Rambarran and the UNC. We have a broken economy, it is not Jwala’s job to fix it, it is the government’s policy that will do that job. So with or without Jwala WE MUST MOVE ON. Ramona Radial was very explicit in Parliament, where they stand on matters of Policy. When an Indian’s job is affected and a PNM administration is in power, it is always the Indian’s job that is more important, not government’s policy. She quoted Sat Sharma’s job as Chief Justice, who insisted on not cooperating with the Manning administration. Again in the Manning’s administration Oca Seepaul was just as defiant against the government. Any Prime Minister, willing to stand by and accept such abuse, deserve to be rejected by the people, if he does not take action against such individuals. Disobedience in office is not something that needs to be encouraged, it is recalcitrance in its most dangerous form and must not be tolerated. The hindus can jump high or jump low, Jwala’s behavior is not welcomed. His office is too important for the economy, for us to be tied down in such foolish warfare. There is no need for compromise in this matter, especially if Jwala continues with his stupidness.

    • …especially if Jwala continues with his stupidness.

      You are being too generous. The simple fact is that some offenses are firing offenses. This is one of those. If you have a subordinate, — whether in government, business, military, or in any hierarchy, — who plays politics at your expense, then out he goes. If you can’t fire him, you transfer him out. But he has to go. Plain, simple, no handwringing, no second chances. Any sign of weakness and he will stab you in the back at the next opportunity. The FM and the PM cannot be so simple as to think he should be “given another chance”. Rambarran has to go, or the PM will appear weak, inviting more such nonsense intended to destabilize the government, and “make the country ungovernable”.

      Shalom.

    • With all due respect to Mariano Brown and Conrad Enill: yes, one works things out privately … but not after the fellow takes it to the public clearly intending to cause embarrassment to the sitting Government. A government ought not to tolerate a worker of political mischief seeking to destabilize it.

      Shalom.

  • PM Misrepresenting My letter
    The Editor:
    Open Letter to the Honourable Prime Minister
    Honourable Prime Minister:
    Thank you for taking time off from your current busy and demanding duties both to read my letter as well as to respond expeditiously on my take on and the political analysis of the current widespread issue of the FOREX disclosures made by the Governor of the Central Bank, Mr Jwala Ranbaran.
    I laboured for some time to try to discover, without any success, from the contents of what I wrote in the Express and another daily on Sunday 13 December, that could reasonably and in their ordinary meaning have led you, Sir to conclude that I categorically stated in the public domain that you, as Prime Minster, directed remarks specifically to Mr Jwala Rambaran to ascertain ‘where the money (US$500m) gone”?
    I committed no such alleged misrepresentation. But I did conclude that your call (“… after we provided the $500 million is to find out where it went;’’…) made at the Office of the PM on 15 November during a Press Briefing and reported in the Newsday of 17 November 2015 as well as that of the Minister of Finance and the general public had the combined consequential effect of transforming and elevating the issue into one of high public interest.
    Accordingly I unconditionally and humbly refute your un-substantiated allegation that you ascribed to me in your much appreciated reply of Monday 14 December. If I may add further, the right to express political views that I was exercising in the letter is a higher constitutional, more liberally exercised, almost permissive and expansive right compared to other rights (Ken Gordon vs Panday Judgment) and the burden of proof or evidence required is less demanding on the individual so doing because it is a fundamental right.
    Following your own line of persecutory reasoning Sir, may I ask respectfully on what evidence did you responsibly conclude if not political, that I am “a serial letter writer” albeit “clever” with “his own agenda’ and capable of outsmarting the editorial vigilance of both newspapers concerned? Or is this stating a political view enshrined in and protected by the Constitution?
    Best wishes for success in your new incarnation Prime Minister!
    Stephen Kangal
    Caroni

    • Marshall McLuhan once said, “The medium *is* the message.” In the present case, the medium is so rococo, as to demand all the attention, leaving one to wonder, what really is the message?

      Be that as it may, the core facts remain unchanged:

      1) We still don’t know how the forex was *used*, a minimum breakdown being: forex expenditure against imports of goods and services vs capital outflows vs unaccounted, or apparent increase in forex cash in hand.

      2) We still don’t know how such a forex usage pattern has changed over the relevant time period. This is what is needed to detect the scale of say, Venezuelan claims on forex, or the scale of the theft under the previous Government, necessitating forex outflow to fund the purchase of condominiums and shopping malls overseas and the like, or for the funding of forex bank accounts overseas.

      3) The information disclosed as to named user, is ordinarily protected under confidentiality provisions, therefore can be justified only under a public need to know basis.

      4) Such justification fails, because of points 1 and 2.

      5) Under relevant statute, the Governor owes the Finance Minister (FM) a duty of prior consultation on such announcements as were made. That duty was not fulfilled.

      In consequence of point 4, the Governor’s disclosures can be understood only under a theory of intent to make political mischief by causing embarrassment to the sitting Government. The alternative theory would have to be incompetence. This is possible, but hard to credit, because any number of economists within the Central Bank would well have known the proper analysis that was required.

      The theory of political mischief is confirmed by the timing of the disclosure that the country is in recession, and the basis used of four quarters of negative growth. Those include apparently the present, fourth quarter, for which data are not yet available because the quarter has not yet come to a close, and moreover, the proper authority to provide such data is the CSO, not the CBTT. Furthermore, the usual criterion for declaring a recession is two quarters, not four.

      This raises some questions: Why was the declaration not made when the previous government was still in office? Why is the Governor over-reaching the CBTT’s remit as he makes the declaration now? And why did he not perform the duty of prior consultation with the FM before making the announcement?

      Again, it is only a theory of political mischief, with malice aforethought, to embarrass and destabilize the Government, that explains all the facts, and provides a credible basis for answering the questions posed.

      I repeat my assessment: the FM and the PM would have to be simple not to see this.

      The matter is blurred by populist nonsense urged by some commentators. But a duty of confidentiality cannot be voided by consideration of the social position and standing of the one to whom the duty is owed. On such relativist argument, the rights of the poor are actually more quickly trampled than those of the rich. So no, don’t preach populist moral relativism to me when you really only wish to pursue a very different, and wicked, agenda.

      That to me seems the sum of the matter as to fact and explanatory theory.

      What then ought the PM to do? The answer to me is clear. As I have already opined, when a subordinate plays political mischief at the expense of a superior,– even when that subordinate ordinarily enjoys wide latitude and a claim to independence that the superior ought to respect,– the superior would be a fool to let them remain. They would only use the perceived weakness to do the same again, or worse. Indeed the misconduct would then set a precedent. Rambarran has misconducted himself in office. Rambarran must go!

      Shalom.

      • Yoruba, i’m surprised that you missed Moomoo’s “rastas does smell” comment…

        • I noted that, perhaps because I have family in S. Oropouche. And because I’m often mistaken for a Rasta. As a Nazarite, I may not bring razor upon my head or beard; Numbers 6:5. So I have “dreadlocks”.

          Mamoo is so full of prejudices that he does not or will not see that uncut hair or beard does not make one smell. One smells if one does not take care of one’s hygiene… whether or not one has dreadlocks.

          The beggar on the street who cannot take care of himself may acquire dreadlocks, and may smell. But not every beggar has dreadlocks, and not everyone with dreadlocks is a beggar.

          And then of course many Rastas make a fetish of “herb”, which leaves its smell upon the user, the same way tobacco or alcohol leaves a smell upon the user. Some, following an originally Hindu practice, use a lot of sweet-smelling incense. I don’t like that smell at all, but to each his own…

          I remember returning home from a three-week trip to India, and my wife telling me that I “smelled”, because of the lingering odor of the heavy Indian spices on my breath. Offensive smell is at least, in part, in the nose of the beholder. So I leave Mamoo to his inanities.

          The trouble was he sought to evade Kian’s point, which merely sought to illustrate a fact we all know, and is self-acknowledged, namely that the indo is full of his racial prejudices. But Mamoo seeks to deny that which his more truthful co-ethnics like F.E.M Hosein and V.S. Nightpall readily acknowledge. Mamoo would lie reflexively about all sorts of things that don’t even matter. I’ve grown weary of his inanities.

          Shalom.

  • Actually…and i could only know this sickness from observation…when Moomoo says ” ‘Rastas’ does smell”…it had nothing to do with hair…’rasta’ or the Rastafarian movement (to Moomoo) , merely represents the ‘blackest of the black’ within the african community…literally as well as Metaphorically & Spiritually…remember Moomoo’s beleief system & ‘sacred’ scriptures are ultimately about White Supremacists…therefore, the rastafarian movement as well as the ‘1970’ black power/black respect/ black upward mobility mindset …the audacity to challenge he notion of white supremacy…to dare say black is beautiful…is spiritually ‘painful’ to persons of Moomoo’s belief system…

    BTW the SADHUS (Hindu/Brahminist ‘Monks’) also have the ‘rasta’ hairstyle (india)

    • to dare say black is beautiful…is spiritually ‘painful’ to persons of Moomoo’s belief system…

      I think you are right about that, albeit there are many nuances to it. (Cue Mackandal Daaga and his alliance with the indo)

      BTW the SADHUS (Hindu/Brahminist ‘Monks’) also have the ‘rasta’ hairstyle (india)

      This is true too. This tallies with the info I have been given regarding the Edomite/Israelite origin of the indo-Aryan (Edomite paternal line). They know (or knew) well the scriptures and the prophecies. And they have the hatred of the older brother (Esau/Edom) that was passed over in favour of the younger brother (Jacob/Israel). If you remember the Godfather movies, this was the hatred of Fredo toward Michael that led him to betrayal.

      The point: the children of Edom have been trying to prove their greater worth to the Most High ever since Jacob/Israel was granted the blessing and the birthright. That includes attempting to duplicate that which was given to the children of Jacob/Israel as the “nation of priests”; Exodus 19:6. So the Sadhus are aping the vow of the Nazarite; Numbers 6:1-12; including “letting the locks of thy hair grow”. Thus the sadhus are the “holy men” of the tribe. Truth be told, the Sikhs are doing the same, which is why they do not cut their hair or beard.

      But God blesses whom He will. And if it is written, the matter is determined. Jacob/Israel is the son, albeit prodigal, that will inherit the kingdom. We are to be the “kings and priests”; Exodus 19:6, Revelation 1:6, 5:10.

      Interestingly also, the Edomites are misled by the blessing they did receive — namely the dominion:

      “And by thy sword shalt thou live, and shalt serve thy brother; and it shall come to pass when thou shalt have the dominion, that thou shalt break his yoke from off thy neck.” (Genesis 27:40)

      — into thinking that they are indeed superior to their nigger-brown brethren. But that is an illusion deriving from the afore-mentioned blessing under which they would rule, but only for a “time and times and a dividing of time”; Daniel 7:25; and from the fact that Jacob/Israel would be put to sleep as it were; Hosea 6:2; hence seemingly without the necessary qualities of the heir. But heir we are, and Esau’s rule was only ever a consolation; read all of Genesis 27, and the earlier story of the conflict between Jacob and Esau.

      So to the undiscerning we indeed seem a lost cause, as indeed Isaiah 51 spells out; our “Negro” young men are like “wild bulls caught in a net”, “drunk but not with wine”, “have drunk of the cup of the wrath of God”, etc. This feeds the arrogance and illusion of Esau/Edom.

      But God raises up whom He will, and He casts down whom He will, as He did with Nebuchanezzar; Daniel 4. And Jacob/Israel, albeit a remnant, will be raised up to rule. That is written, so shall it be; Daniel 7:18, Revelation 5:10, many places elsewhere.

      To the discerning, the signs will already be there of God’s favour toward his prodigal children, us the “Negro”, even as we seem to all the world to be a lost cause.

      My narrower point is that the Hindu sadhu, or holy man, attempts to mimic the Nazarite of Scripture, and the Israelite prophets of old, men like Elijah, Ezekiel, Isaiah, and others, who lived that life. Some, like Isaiah, though of royal lineage, literally had to walk naked at God’s command. Elijah had to live alone in some cave, where the ravens brought him his food. Etc. So the sadhus claim that tradition. It is part, consciously or otherwise, of their continual petitioning to God to be the “rightful heir”. This petitioning has long since morphed into an assumption, that the dominion is theirs forever. This assumption is common to all the branches of the Edomite family tree, and most blatant among the fake so-called Jews, and the brahminist. They are in for a rude awakening. That, is written.

      May the Most High continue to expose the wicked, and protect the innocent. How long O Lord, until You raise up your children, and wash away our sins?

      Shalom.

  • Has The current Governor Of The CentrL Bank brought the central bank into disrepute?? Is he using it to channel Hanuman… i.e. A ‘holy’ political battle…to smite his uncle Winston dookeran’s & Queen Kamla’s political enemies…??? Shoukd the PNM allow him to emasuclate their Term in Office as well as the Nation’s economy?? If they do not act swiftly & Viciously…he will be emboldened to do WORSE! Also…his party (UNC) is looking on for a cue so as how to behave (romana ramdial)

    • Quite. You have read the matter right in my opinion.

      Some things are quite simple when you refuse to be distracted by all the trees and focus on the forest.

      His opponents have arranged a test of Rowley’s mettle; they are nothing if not clever, moreover deceptive. Let us see how he rises to it.

      May the Most High give our PM the belly and the backbone to treat with this challenge. We know he already has the brains.

      Shalom.

  • There are clues to look at in this subtle game of oneupmanship. Jwala started the fight under Kamla but because hindutva is a beneficiary of this policy, there is no outcry. The local businesses depend on the constant flow of $US, to keep their businesses afloat. So they are better off with a policy that encourages an uninterrupted supply of currency, as proposed by the new PNM government. Those who applaud Jwala’s policy appear to be saying that there is nothing wrong with Jwala exposing ‘big business’. But is that really exposure? Any fool should expect Price Mart or your large retailers to be ardent users of US currency but our problems may not be with the very large users. The real problems may emanate, not with the large ones but the medium to small users, that go under the radar of that kind of surveillance. This is most likely where the money laundering and drug trafficking transactions takes place
    without the heralded sound of exposure. Jwala knows that he may get kudos by commentators and columnists that on paper appear to be rooting for the small man but who may secretly adhere to an agenda that does not have the interest of Trinidad and Tobago at heart. In this regard, one does not have to look any further the the print media. Although the moves that Jwqala make affects each and everyone of us in different ways like business, medical, schooling, entertainment, shopping or what have you, whatever policy he operates under have direct bearings on the economy. Print media does not care about that effect on the economy. Print media is mostly concerned with whether the government will fire him or not. In other words, do we really care who is the governor if monetary policies compliments our foreign reserves? The answer is NO. The problem is, Jwala’s policies appear to undermine the natural flow of US dollars and this is what big business is worried about. But the print media is only concerned about Jwala’s job and whether the government will fire him or not. It is strange that print media has already informed us that Jwala has already approached his lawyers in the event he gets fired. Now tell me, is this about country or is this a narrow concern for Jwala’s future as governor? The media should be educating us about the duties of the governor and how policies affect what we do as ordinary citizens. They should also educate us about what constitutes good policy when the governor works in unison with the government and vice versa when the governor is at odds with the government.
    Such information, can be of value to us that allow us to be in a better to make decisions on how we spend $US. That does not appear to be of interest to the media at all. To the average reader or consumer of news, we are aware of the political ramifications of this feud between Jwala and the government.
    What puts this feud into murky areas is who in the population benefits from Jwala’s policies and who are the losers. This, I think is more substantive a priority than whether Jwala stays or goes. If the government find reasons why Jwala should not continue as Central Governor, they should not be wasting time because the economy is receding while Jwala is playing politics.
    He should be fired. Worry about the politics after. Enough has happened to educate us about the players in this game of oneupmanship that we do understand what is at stake and who the eventual losers might be – citizen Jane and John. The Finance Minister should not allow this scenario to go on indefinitely – get rid of Jwala!

    • Kian, you are feeling the effects of a ‘culture’…if you could remember, this is how they (unc & the indian communnity) behaved right after panday lost office in 2002 thereabouts…as soon as they get into office…every african in sight is fired…like the wild wild west!…BUTTTTT. ..as soon as they LOSE office…there are all these ‘humanitarian’ demands on how hirings & firings are conducted by the new administration. They are so openly dishonest & obnoxious…the same Indians that gleefully took the jobs of africans…literally…expect the pnm to hold their jobs as sacrosanct i.e. They must not be replaced or fired BECAUSE they are Indian!…and the Indian communityas a whole, rallie behinds this type of behaviour!

    • He should be fired. Worry about the politics after.

      That about sums it up. Or as Carmona once famously said, “do the right thing because it is the right thing to do.”

      Our fearless leaders are indeed under oath to be fearless. “… do right by all manner of people without fear or favour”.

      But the greatest precept of all lies in Holy Writ. For if one upholds one’s oath, and does right, it is an insult to God then to fear consequences:

      “Yea, though I walk through the valley of the shadow of death, I will fear no evil: for thou art with me; thy rod and thy staff they comfort me.” (Psalm 23:4)

      May it ever be so, and especially for those appointed to lead us.

      Shalom.

  • Ummm, actually Yoruba…just like Sat…i wouldn’t mistake F.E.M. Hosein’s Bravado…with Honesty! He, like Mamoo, have an agenda, that allows them to twist & turn,slither to & fro, in order to fulfill their objective…read carefully Mamoo & Devant’s Hero…
    http://www.newsday.co.tt/news/0,41310.html

  • “…..The 300 million untouchables love India or else they would have move to the dark continent Africa. This is an ingrained social and religious structure invented about 100 BC.”………… Mamoo’s version of why the dalits of India has to conform to the dictates of hinduism in his reply to Alyssa, regarding the Trinidadian Indian support of hindutva vs the Indian dalits’ subservience to the caste system. This is a clear statement of a mind indoctrinated to believe that religion has placed him in a superior position to those he considers inferior. While different labels are used in reference to the African in Trinidad, the concept remains the same. So, as much as there are cries to reduce the conversation of race, ethnicity, culture and social mores, there are too many ubiquitous affirmations of this problem to ignore. Under the guise of hindutva it shows its ugly head in social, academic, political, hierarchical, judicial, systemic and contemporary life. This subject of Jwala is such a case. There is a clear line of delineation between those who sympathize with Jwala’s stubborn antagonistic approach and the government’s attempt to streamline the position of Governor of the Central Bank. Without the importation of preference, one would be inclined to believe that it is of utmost importance that government’s policy of foreign currency be a matter that all can agree upon. But Jwala’s intent on changing what has been working without any problem for the past twenty something years is what this worrisome situation is all about. One would also be inclined to believe that right is right, regardless of who does it and wrong is wrong regardless of who does it also. But in this case Jwala ‘importance’ is being compared to that of Oca Seepaul and Sat Sharma. This means that we are not really speaking about performance but something totally outside of that sphere of reference. Following such an argument, it would naturally mean that RACE is really the bogeyman, not performance, not qualification, not nationality, not conformity to traditions and certainly not the interest of Trinidad and Tobago. When Winston Dookeran,
    Ramona Ramdial, Ralph Maraj, Kamla and others of the upper echelons of hindu society is up in arms about ‘Jwala’s job’. Not the economy, not the flow of US currency, not the availability of US funds but Jwala’s job, it means that our country is not looking for solutions, it is really looking for problems instead. However hard they might try to disguise it,
    Kamla’s promise of making the country ungovernable is what is happening. Until behavior changes, this is the reality we are dealing with. Decisive actions MUST be taken to alleviate this kind of stance between the races. Most non-hindus believe that the current Commissioner of Police, Stephen Williams is incompetent and would advocate that he be relieved of his job. The fact that he is African has nothing to do with such considerations. What we are concerned about is his ability to carry out his duties, and performance so far. He has shown little by way of showing he is capable. And so, were he not to be chosen as the next permanent Commissioner of Police, few if any, would be up in arms because he did not get the job. We have not seen such maturity on the part of those who support the stupidity of Jwala’s mistakes. Coming back to Mamoo’s assertion that we, just as the dalits of India should ‘accept’ hindutva as a condition of our worth, is a sadly mistaken idea that will NEVER take hold here in Trinidad and Tobago.

  • my statements …the last 6 have been blocked by your website.

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