Saturday, June 25, 2022

The Cannabis Industry in The Bahamas is On The Bahamas Government 2022-2023 Legislative Agenda

The Bahamas Cannabis Industry is in The Making


Cannabis Industry in The Bahamas is On The Agenda...


Attorney General, Senator Ryan Pinder Outlines The Bahamas Government’s 2022/2023 Legislative Agenda in the Senate


...

 

Cannabis Business in The Bahamas
“We will advance a comprehensive suite of legislation on the regulation of Cannabis, creating a new agri-business industry in The Bahamas. 


This legislation is internationally benchmarked against the countries around the world in the industry. The framework will be for the regulation of the medical Cannabis industry from the farm to the border, and will also provide a separate regulatory framework for industrial hemp, for wellness products and for pure industrial uses such as clothing, rope and building materials made from hemp. 


We will also provide a framework for the de-criminalization of possession of small amounts of Cannabis products,” he said.


...


Source

Thursday, June 23, 2022

Michael Pintard Commits Political Suicide in Support of Adrian Gibson

Michael Pintard Drinks From Adrian Gibson Poisoned Chalice


The FNM Burns Out in Support of Adrian Gibson


By Dennis Dames


Press Liaison Officer, WSC - Loretta Butler-Turner
Ms. Loretta Butler-Turner, who is a press liaison officer for the Water and Sewerage Corporation board, said the following publicly as it relates to outstanding audits of the corporation – under the watch of The incompetent FNM administration of 2017-2021 - and Mr. Adrian Gibson, Long Island MP, Board Chairman:

“Actually, when this board came into being, there were two outstanding audits,” she said.

“It was 2018 and 2019 that the previous board never even signed off on. We have just recently gone through those to ensure that that is done. As a corporation, there should be an official audit done each year and tabled in the House of Assembly. So, you see, now, it would be going on four years that such an audit has not been tabled in the House Assembly.

Adrian Gibson, Chairman
“The job of the board now is to ensure that those two that were just waiting for the board’s decision to agree to, which we have now done, and the two that are outstanding, that they are completed.”

If this is indeed the case, then it’s a poor reflection of the FNM administration of 2017-2021 – under the inept leadership of Prime Minister, Dr Hubert Alexander Minnis – MP for the Killarney constituency. To make matters worse, the FNM party in opposition today are fully unified in their support of the incompetent Long Island MP, Mr. Gibson; whose board did no even sign-off on the 2018 and 2019 audits!

Michael Pintard, Free National Movement FNM Leader
Mr. Michael Pintard, the now leader of the Official Opposition, hapless FNM party, and the Member of Parliament for the Marco City constituency - has unwittingly signed his political death warrant on this matter – in my humble opinion. His unwavering public support for the outright wrong on the part of ‘No-tabled-audits’ Mr. Adrian Gibson - as Chairman of a vital national entity – is political suicide, no doubt.

No Prime Minister of the Commonwealth of The Bahamas for you, Mr Pintard. You have shown that you are simply a political puppet of the sweetheart movement – in my view.

Monday, May 23, 2022

How Could ObamaCare Help The Bahamas?

The Importance of National Health in The Bahamas

Health is Wealth



Moving Forward With A National Health Care System For The Bahamas


By Dr Kevin Alcena


“The... patient should be made to understand that he or she must take charge of his own life. Don't take your body to the doctor as if he were a repair shop.” (Quentin Regestein)

This article will attempt to show the readers in an objective systematic way, an analysis of the importance of national health in The Bahamas in the form of a parisology.

“To enjoy good health, to bring true happiness to one's family, to bring peace to all, one must first discipline and control one's own mind. If a man can control his mind he can find the way to Enlightenment, and all wisdom and virtue will naturally come to him.” (Buddha)

“The chief condition on which, life, health and vigor depend on, is action. It is by action that an organism develops its faculties, increases its energy, and attains the fulfillment of its destiny.” (Colin Powell)

A National Health System coupled with good system planning would benefit the Bahamian society in a very diamantiferous way. We have to have a saxicoulus acephalous mandate for our health system for a generation that precedes us.

We must be smarter than the Americans and more diligent and transparent than the British. A comparative study of the two health care systems – The USA and The UK - conducted by some researchers a few years ago revealed that:

“According to a 2006 OECD comparative data study, the total health expenditure in 2004 by the United Kingdome was 8.3% of their gross domestic product (GDP), and the United States was 15.3% of their GDP - whereas the mean of 30 countries was 8.9%. This same study reports health expenditure in the United Kingdom as US $2,546 per capita, and US$6,102 per capita in the United States, - whereas the 30 country mean was US $2,550.

Not surprisingly, public spending differs quite significantly between the United States and the United Kingdom as well. Of their respective 2004 total health expenditure public spending - in the United States was 44.7% - whereas the 30 country mean was 73%.” (The Health Care Manager, Volume 26 Number 3).

The Bahamas can also learn a lot from the Swiss and Rwandans Health system. For example, “Rwanda’s health sector has undergone a fundamental transition in the last century; in the time before colonial era, health care consisted of traditional African healing methods. The German and later Belgian colonial period saw the emergence of faith-based health care, and with it - the introduction of modern treatment methods.” (Rwanda National Health Sector Policy, 2005).

We have to be very innovative and creative. The most important element in implementing a health system in the Bahamas is a health information system.
“A national health information system (HIS) plays an important role in ensuring that reliable and timely health information is available for operational and strategic decision making that saves lives, and enhances health. Despite its importance for evidence-based decisions, health information systems in many developing countries are weak, fragmented and often focused exclusively on disease-specific program areas.” (http://www.who.int/.../1HMN_Architecture_for_National_HIS...).

“Health care in Canada is delivered through a publicly funded health care system, which is mostly free at the point of use, and has most services provided by private entities. It is guided by the provisions of the Canada Health Act of 1984.

The government assures the quality of care through federal standards. The government does not participate in day-to-day care - or collect any information about an individual's health, which remains confidential between a person and his or her physician.

Canada's provincially based “Medicare systems are cost-effective - partly because of their administrative simplicity. In each province each doctor handles the insurance claim against the provincial insurer. There is no need for the person who accesses health care to be involved in billing and reclaim. Private insurance is only a minimal part of the overall health care system.” (Wikepedia)

Hippocrates, the Greek Father of Medicine once said, “A wise man should consider that health is the greatest of human blessings, and learn how by his own thought to derive benefit from his illnesses.”

Health care is not a new phenomenon. Imhotep the Father of Medicine, was not just an imaginative architect; he was also a doctor and philosopher of the human body and mind and he contributed to medicine in a number of ways:

• “Imhotep's concepts included specializations in many methods of medicine, compared to today's physicians who primarily master one area of expertise. He introduced a blend of new methods including astronomy, philosophy, religion and protective amulets to achieve new breakthroughs.

He was a pioneer in helping to develop tracheotomy to resolve respiratory obstructions, cauterization to circumvent excessive bleeding while operating, and blood drainage to cure diseased collections.
• Imhotep diagnosed and treated hundreds of diseases including diseases of the abdomen, the bladder, the rectum, the eyes, and many of the skin, hair, nails and tongue. He treated tuberculosis, gallstones, appendicitis, gout and arthritis.
• A very significant resource of today's modern medical practices is irrespective of Imhotep's medical school; medical tools such as forceps, scissors and surgical blades were all imitative of ancient Egyptian medical apparatus. And certain remedies for elementary disorders that were introduced from ancient Egypt medicine are still practiced today; castor oil for laxatives, honey as an antimicrobial and Acacia as a cough remedy all are in retrospect of Imhotep's teachings and forward-thinking medical protocols.”
Imhotep’s most famous quote was "Eat, drink and be merry for tomorrow we shall die." Of course this is quite ambiguous today as we know diabetes, and hypertension is affecting the global health system like it is nobody’s business, and the general population of our global family is suffering as a result of their eating and drinking habits. Redd Foxx was also sardonic when he said, “ Health nuts are going to feel stupid someday, lying in hospitals dying of nothing.”

According to the statistics posted by the World Health Organization for 2011:
• 346 million people worldwide have diabetes.
• In 2004, an estimated 3.4 million people died from consequences of high blood sugar.
• More than 80% of diabetes deaths occur in low- and middle-income countries.
• WHO projects that diabetes deaths will double between 2005 and 2030.

The inexplicable global health system in regards to obesity and hypertension has impacted all governments in the world in a negative way. Obesity is a resipiscence because it is one of the biggest health problems in the world due to our lifestyle of food choices.

There is a global war on obesity and health experts are stentorophonically crying out to the world’s citizens to stop this trilemma because it is killing us and putting a great strain on the health system. Some statistics taken from the World Health Organization points out that:
• Worldwide obesity has more than doubled since 1980.
• In 2008, more than 1.4 billion adults, 20 and older, were overweight. Of these over 200 million men and nearly 300 million women were obese.
• 65% of the world's population live in countries where overweight and obesity kills more people than underweight.
• More than 40 million children under the age of five were overweight in 2010.
• Obesity is preventable.

“Health is a state of complete physical, mental and social well-being, and not merely the absence of disease or infirmity.” (World Health Organization, 1948).

How would ObamaCare help The Bahamas?

It is quite simple. America leads and the world follows.

It is all indication that there is a new pedagogy in the global health system. ObamaCare will ignite the consciousness of leaders to implement a comprehensive national health service in their respective countries in a bombastic way.

Take a look at Cuba for example. “The Cuban health care system is respected around the world, and is literally decades more advanced than any system found in Latin America. For this reason, the Cuban system serves as a model for Third World developing nations.” (http://library.thinkquest.org/18355/health_care_in_cuba.html)

In conclusion, we in The Bahamas have an opportunity to model our health system with the best management team in our country. National health should be run by a quasi government corporation that compliments strategical business sense in the protocol of them delivering quality health service in a circumambagious way.

“The greatest wealth is health.” (Virgil)

Tuesday, May 17, 2022

Crypto Will Never Replace Fiat!

Crypto will always be a transactional adjunct to both reserve and non-reserve fiat


 
Sam Bankman
- FTX boss Sam Bankman-Fried believes bitcoin has no future as a payments network, because its 'proof of work' system means it can't scale up By Zahra Tayeb - BusinessInsider -


THIS YOUNG FELLOW IS PRECISELY RIGHT FOR CURRENT AND ANCIENT ECONOMIC REASONS!

By: Professor Gilbert Morris:
This should serve as a cold shower for crypto-evangelists who have deluded themselves into thinking that crypto-money can defy the laws of supply and demand, volatility versus stability or even raise the dead…if you listen to their ignorant blatherings!

The fiat of fiats is not because it’s fiat, but because it’s legal tender and stable.

You may ascertain at type of person who sits at the back of the class without listening: because they’re the ones who compare possibilities at the margins to events at the centre-scale. Such persons respond by saying ‘well, the US dollar fluctuates…’, as if they can’t grasp the difference of a legal tender currency, that fluctuates within a band in a system that is global, compared to narrowly distributed crypto-money, fluctuating wildly in value…driven by a few “crypto-whales”, in a niche transactional vortex.
When one explains these basic, obvious points, crypto-dolts launch into incessant crypto-barking about how people - even Warren Buffett - just doesn’t understand what they understand!
Today, I found just how delusional they are, because even as this young fellow - from FTX - expressed views held by Mark Cuban, Elon Musk and Vitalik Buterin (cofounder of Ethereum) and Warren Buffet, crypto-Talibans can be heard dismissing him; suggesting that he needs to read some article they know of to gain perspective on a product he dominates!

This is their generalised reaction to statements from a person who is a market-maker for crypto, and sits at one of the world’s largest transactional nexus between crypto and fiat and transacts nearly 100 times their country’s GDP!
To the thinking person, the least interesting thing about crypto is it’s price, which is driven by a “beggar-thy-neighbour” model. The most interesting thing is the technology substrata, blockchain, where the true transactional revolution will emerge.
Distributed ledgers running as blockchain ir holochains actually reflect the ancient jurisprudence of Solon (630-560BCE), the great law giver: in that, at last - also reflecting the notion of the commonwealth of humankind advanced by Nicolas of Cusa 1401-1464).
Blockchain in its basic formulation can remake human civilisation.

This is the reason young techs in The Bahamas must grow out of the fat delusion that The Bahamas will be a “crypto-centre”: rather it’s future - if we have the resolve to innovate at scale at the pace of the market - will be in digital asset custody; built on the substrate of distributed ledgers. That means all digital assets, including NFTs, Tokens of every sort, NK contracts - and the holy grail - interactive and interoperable smart contracts will be the trillion-dollar opportunity for The Bahamas now and in the foreseeable near-future.

Crypto will always be a transactional adjunct to both reserve and non-reserve fiat and any first year economics student or statistician can witness that crypto has lost its oppositional trajectory and basically “aligned” with conventional currencies/money and does not now move opposite to it as an alternative should.
Crypto is also not like Gold; as gold is a commodity and possesses inherent or intrinsic value as a conductor of electricity for instance; necessary for advanced electronics such as both this mobile I’m using and this airplane in which I am traversing the heavens.
It has a use function and value inherent to what it is. Crypto does not.
That does not mean crypto is useless: it provides a niche payments channel and more importantly - something which most economists miss - a “savings enclave”, which has been missing outside high savings economies such as Japan. That is, crypto - as a proxy for fiat - operates like a zero interest, ‘proxy savings bond’, with the widest range of yield possibilities for cash-outs because of its volatility; driven by its frenetic value model.
It will play this double proxy role indefinitely, but will never replace fiat; although, it’s flexibility will instigate the rise of CBDC with hybrid Stable Coin features, which will lead the the true and necessary revolution: the destruction of conventional banks!

Tuesday, May 10, 2022

Hubert Minnis, The Political Pariah of The Bahamas

Rejected Hubert Minnis, The Bahamas Most Notorious Political Outcast 


Dr. Hubert Minnis:  "A Politically Persona non grata".


Minnis Falls Far Short of Other Major Parties’ Official Leaders


By Fred Sturrup | GB News Editor | sturrup1504@gmail.com


The Politically Rejected Dr. Hubert Alexander Minnis of The Bahamas
Dr. Hubert Minnis is considered to be a political pariah.  He certainly fits the description of an outcast, much more so than any other leader in Bahamian political history, I submit.  This man has been rejected by the national voters in great numbers, and within the party he hangs on to, the Free National Movement (FNM), it is understood that the great majority wish he would just go away, resign, and get totally out of the picture.  Killarney could very well do with another representative.

 

The fall from political grace that, in my view, is the largest aspect of his legacy, puts Dr. Minnis in the ignominious category of one.  Given what happened under his watch; the questionable contracts, the inflated budgets, the attitude etc., I know of no other major party leader who bore as much or more public disgrace or shame.

  

Let’s go through the list of political leaders in the modern Bahamas.  For the now-governing Progressive Liberal Party (PLP), the leaders include Henry Milton Taylor, Sir Lynden Oscar Pindling, Perry Gladstone Christie and Phillip “Brave” Davis.   The first government of the country, the United Bahamian Party (UBP), had Sir Roland Symonette and Godfrey Johnstone.  The Free PLP/FNM’s list is longer, inclusive of short-term leaders.  The prominent chiefs were, of course, founding-leader Sir Cecil Wallace-Whitfield, Sir Kendal Isaacs and Hubert Ingraham.  Then, there were Cyril Fountain, Cyril Tynes, Henry Bostwick, Tommy Turnquest and Michael Pintard (currently in charge).  All of them, their faults noted, were thought to be honourable men.


What about Dr. Hubert Minnis?  The truth be told, there is the view that he sours the FNM.  And, he won’t go away.


In an earlier commentary in GB News, it was predicted that Dr. Minnis would be a great obstacle to Pintard’s leadership.  He seems determined to undermine the younger politician who has been widely accepted by FNMs across the length and breadth of this nation.  Pintard is certainly more dignified.  The antics of Dr. Minnis are disgusting.  He lost the election of 2021 and the FNM opted to change him and go with another at the helm.  That was the logical conclusion.  His decisions in leadership, for the most part, were not sound ones at all.  


Think about it for a moment.  Dr. Minnis could still be the executive leader of this country.  His Cabinet Ministers could still be moving about in the political style befitting their portfolios.  In particular, they could still be earning their salaries.  Cabinet Ministers each lost more than $60,000 because of the decision made by Dr. Minnis to call an early election, September 16, of last year.  He dealt serious blows to his party and the pockets of ministers, other parliamentarians and supporters with lucrative contracts.


Yet he sticks around, seemingly making every effort to upstage the sitting FNM Leader Pintard.  In that earlier commentary, I warned Pintard about what he was likely to face in Dr. Minnis. It is not a pretty scene for the FNM.  On the one hand there is Leader Pintard, trying valiantly to make his party relevant with the voters once again.  On the other hand, Dr. Minnis appears to be disdainful of Pintard and his status in the country as Her Majesty’s Loyal Official Opposition Leader.

 

The time has come for those who care deeply for the FNM to take a strong stand alongside Pintard, and insist that Dr. Minnis moves on.  If not, a fractured party will be the result and the FNM will not be able to go to the people for voting support as a unified body.


Source

Wednesday, April 27, 2022

Central Bank Digital Currency (CBDC) model is the best of the iterations of money in the financial future

WHY WE SHOULD COMMIT TO CENTRAL BANK DIGITAL CURRENCIES (CBDC) END PAPER MONEY AND CONVENTIONAL BANKING!


By Professor Gilbert Morris



Digital Currency



Central Bank Digital Currency (CBDC) model is the best of the iterations of money in the financial future; the urgency of which has now arrived.

Four years ago, on a programme called “Essentials”, hosted by Hubert Edwards, I and my colleague - Central Bank advisor Mike Mckenzie, Malaysia - argued this point.

Here is what I contributed: CBDCs are not a panacea, but their role is far more disruptive than it seems even their adherents are willing to admit. The goal should be the absolute elimination of paper money and banks as we know them.

1. It would disintermediate banking and banks as we know them completely
2. It would recalibrate a proper equilibrium between the money supply and goods and services; whilst facilitating efficient multi currency transactions and trade finance
3. Such a platform on bespoke Blockchain could initiate in-system peer-to-peer lending and direct digital utility payments, with more comprehensive, fair and accurate regulation
4. It would require completely new standards for identity and Constitutional protection of both biological and digital identity as a new definition of human personage
5. For states whose currencies are PEGGED to the US dollar, a CBDC would allow for more disciplined aggregation and management of US dollars, since they’d be exchanged upon entry into the country for the digitised currency.


There are some critical issues which require constant monitoring and transparency:
a. Any issuance of a CBDC that runs indirectly through the traditional banking system amounts to an illegal tax; since its purpose would be to stave off conventional banking collapse; this preserving a 200 year old obsolete system that enriches the few.

b. Any conventional bank now building brick-n’-mortar buildings is developing into a false future, the urgency of which is already present and enervating.
c. For the efficient deployment of CBDCs, there would have to be free, reliable broadband, protected by bespoke - multi-redundant - power supply.


CBDCs in their development has been largely naive, thinking that the technological achievement of the CBDC is the accomplishment.

This is false: such innovations must nest in a legal and Constitutional context. As such, CBDCs require proper foundations Constitutional alignment for the following reasons:
a. The Central Bank could collect both data and metadata that would reveal every purchase, amount of purchase, location of purchase, items purchased.
b. This is both unconstitutional and would undermine democracy by robbing the citizen and any consumer of his or her right to privacy.
c. The disclosure of identities would mean governments could target specific consumers and enterprises for political reasons.


These issues are not insurmountable. Estonia has largely solved these problems - as I show in papers written two years ago - and they have done so in a manner that maximises options for broad currency digitisation, whilst enhancing Constitutional protection.

There would be benefits to data collection scrubbed by smart data analytics of all features of identity, perhaps even location: this would generate real-time real-life performance based creditworthiness; eliminating the need for ex-post 20th century backward looking credit ratings.

Moreover, the non-identifying data would produce additional benefits at scale: they would reveal patterns and flow of consumerism, accurate breakdowns of goods and services divides, provide accurate forecasting of taxes, and because of the efficiencies gained in US dollar sequestration, the management of the reserves supporting the zero-value dollar-PEG would become transparent, precise, and the reserves should see an uptick in its baseline aggregates!

Wednesday, April 6, 2022

National Security Minister Wayne Munroe is Out of Order!

Minister Munroe Ought Not Put PM in Position of Dismissing Him

By Fred Sturrup | GB News Editor | sturrup1504@gmail.com



Brave Davis and Wayne Munroe
National Security Minister Wayne Munroe is deemed by many to be out of order for comments made regarding a plea agreement which enabled a man recently convicted of having intercourse with a minor to receive a prison term of just four years.

He was quoted: ”If I was advising the accused and someone gets seven years for raping somebody, I wouldn’t be advising my client to agree to four years for unlawful intercourse. I would say that if we go to court, you would say to the judge, “He didn’t rape her. She consented.” A release from the Ministry of National Security claimed that Minister Munroe was regretful that his comments “caused concern.” His defense continued with the following: “When I provide my analysis of a legal matter, as I have done in recent interviews, I do draw upon decades of experience practicing law.”
Indeed, Munroe is a noted attorney; but in his capacity as Minister of National Security, he does not have the luxury to act or think, only, as a lawyer. Protocol dictates that he functions, in particular while in public, in the interest of his ministry. He seems, based on his comments, sympathetic to the convicted individual, and not very much concerned that a child under the age of 16 has been interfered with sexually, her innocence violated. Quite frankly, at that age, she is unable to give legal consent.


From throughout this country and the wider Caribbean Region, reportedly the outcry against Munroe has been great. He thus sits, it is submitted, as a cancer in the Cabinet of the Most Honourable Prime Minister Philip Davis. Cancer should be removed.


PM Davis is batting on a really fine wicket. His detractors are hard pressed to criticize him with any sense of logic. His cabinet ministers can be his downfall though. Voters have long memories. I suggest that the prime minister takes his mind back to the 2002-2007 first Progressive Liberal Party governance term of Perry Gladstone Christie. The economy was booming, things were going well in the nation; but Christie lost respect when he failed to handle properly, in the view held here, the BAIC (Bahamas Agriculture and Industrial Corporation) debacle and several other national matters of great concern.

The same can happen to Davis four and a half years down the road.

PM Davis, I urge you to remember how Sir Lynden Pindling functioned as prime minister, especially during those early years of a quarter of a century of leadership. I mention for emphasis the names of Simeon Bowe and Ervin Knowles. There was the case of the PVC pipes. It was a huge controversy, although Bowe was not thought to be personally involved. Bowe was a dear friend of the then prime minister and one of the heroes of the eastern district. He stepped down from his ministry post, however, so the government could move forward without that baggage.

In the case of Knowles, a matter regarding a contract for BAIC was his downfall. Just like Bowe, he was very close to Sir Lynden, and not known to have been the culprit. However, it was on his watch and convention dictated the honourable path. Knowles took it.

This controversy Munroe is now involved in, is highly sensitive and he is in a quandary of his own doing. The matter won’t die.