VIDEO: Government denies borrowing money from Social Security

1. Melford: We didn’t borrow money we used it..

   Clueless Pringle Tin: What? De de de fact that it is converted (ax² + bx + c = 0) 2H₂ + O₂ → 2H₂O

   Melford: No Sir

   • What else you expect from DEAD DARG, CA-CA-CA-PASSY-TAH, UPSIDE DOWN BIBLE?

     🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

2. This is why there must be transparency and open government. Antiguans always have to rely on the say so (or in this case, the no so) of Gaston Browne or/and his cabinet members.

   They haven’t earned our TRUST for us to believe anything whatsoever they are telling us. Because many of us have lost count of the amount of times that the ABLP acting transparent is like some sort of intervention insider secret.

   THEY ACT LIKE A SECRET MASONIC LODGE …

3. You know when someone is stupid it is hard to educate them. I listened yesterday to Melford trying hard to educate the honorable Jamal Pringle to the principle of the bond. It was the UPP government who first transferred all the government debt at Social Security into one Big Bond of 30 years. Let me give you some accounting lesson. The debt which was an Accounts receivable in the Books of Social Security is an Accounts Payable in the books of the Government. When the IMF looks at these things and do certain Ratio Analysis it doesn’t make sense to have an accounts payable on the books for year in and year out and you never pay it off. And since you cannot write it off you have it there distorting all your ratio’s such as Current Ratio. The right thing to therefore do is to move it down the balance sheet into a Longterm Debt. And Social Security will move it into an Investment. So no more accounts receivable cause they were not collecting it anyway. Having done so it seems that anytime the government has build up an accounts receivable to a certain uncollectable amount you transfer it to an investment. A Bound Instrument issued by the government. However Social Security doesn’t have to put in any monies. They just take the receivable and apply this as payment to the bond. Government doesn’t receive any monies either they just move the accounts payable to Social Security to Bonds Instrument Issued. The paperwork is done and no monies are passed. Just an techniocle entries are passed in the books and legal documents are signed. So when Pringle with his narrow mind is hanging on the principle of a bond being monies received from Social Security it is hard to put sense into his head. The different with the issueing of bonds on the RGSM is that investors have to buy the bonds and government will secure these bonds. And they will use the monies from the proceed of these bonds to finance their operation. Whether they use the money for repayment of debt or paying for services. Other way goverment raised funds to pay of debt is by getting into new debt with lower interest rates. Which they did sign up for just the other day. Paying of high interest rate debt with new low interest rate debt will eventually give you more fiscal space. Less interest expenses to pay out.
   The Prime Minister is right when he said we need to make scholarships available for ALL parliamentarians. But he must understand, you can take a horse to the well, but you cannot make it drink. Over my many years as an executive I have encourage many to educate themselves in order to take up higher position. And I am proud of those that followed my advice. They now hold very prominent positions in certain companies. The only thing I sometime have difficulty with is that many are not grateful. They always think they done all they achived by themselves not remembering how other helped them along the way. But the good book says,let us do good to everyone.

4. Lets look at the picture of the parliament. Jamal Pringle sitting behind a set of books, which should be like reference books. Encyclopedia and whatever else. While Melford Nicolas has his laptop on his desk and can quickly research anything he wants. Jamal please get with the time. Even school children now just go on their phone and ask AI questions.

5. Mr. Pringle seems dazed and confused. I don’t know if it’s the hot temperatures affecting his brain, but something is off with him. Just like when he asks questions to the PM in parliament sessions. There are times when a follow-up question is necessary, but Mr. Pringle lacks the common sense to formulate the question on his own without it being formulated prior. This is not a good look for the person who aspires to be prime minister in 2028.

6. Now here’s the difference between myself and the IRRELIGIOUS clown that keeps posting rubbish on hear and NEVER critiques Gaston Browne whatsoever on anything.

   You’d think Browne never did anything wrong!

   I, on the other hand has defended the Prime Minister on a couple of things.

   Firstly, I backed him when he opined about the banking sector being unprofessional in their undertakings when potential business customers want to open accounts making things difficult when there was no need, and also those that already had access to banking, must be treated promptly, professionally and with curtesy.

   Secondly (when I originally supported him), earlier in his tenure, Browne had endless enthusiasm and vibrancy for Antiguans to do well for themselves and help build the country upwards and onwards. This verve, vigour and vivacity attracted me to support the ABLP way back in 2013.

   Now fast forward to today, and I do not recognise the man at all!

   WHAT HAPPEN TO HE?

   Those he’s helping out to this day are the money men/women; the lobbyists; hotelier’s; and those who have created “think tanks”; that Gaston Browne pays more attention to than the indigenous that he promised wholeheartedly to help out back in the day.

   Yes, he gone someway to encourage the diaspora to invest here (is that 3???😉); however, the indigenous populous has stagnated under Browne’s 10-11 years in charge.

   So fellow Antiguans do not pay attention to myopic and irreligious fools … they NEVER critique Browne, and I mean NEVER!!!

7. I understand the point Pringle is trying to make but without a Finance background, he cant articulate it…… Not paying over monies is a form of loan because it has to be financed……If customers don’t pay a business, the business has to borrow money to cover its operations……

8. What a shame. Pringle is asking questions that He did not understand the question Himself. Pringle ask questions that were written for Him by The CHAOS DEMON. The worst thing for DUMB Person to ask a Professional questions . That committee is a BIG JOKE. Pringle ask STUPID questions.

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