Thursday, October 27, 2016

Bond Scam - COPE and all the Bull Shit

While I said in this Blog on 12 January 2015 not to put Arjuna Mahendran in a compromising situation due to his son in law's investment in the largest Bond Trader in Sri Lanka, no one listened then. So he was appointed the Governor of CBSL. We know what happened, but do we?


The rest is mere garbage, which is innuendo by people who have an agenda, which unfortunately the General Public Embraced as Gospel from that point. Nothing that the Govt. does to convince otherwise will or has worked and that is why we have to deal with it after 18months, when it should have been clarified, put to bed, and file closed within two weeks of the allegation surfacing. 

Sri Lanka has paid a HUGE PRICE for the lies that Press have put out which are EASY for people, especially for the people who think they know! to believe. This is where the brain is not talking but the heart. IT MUST HAVE HAPPENED NO!  NO IT DID NOT HAPPEN. If only people knew that father-in-law and son-in-law have NO relationship at all, except one married the others daughter, and that is all to it, not more that the people have tried to pin. 

READ ON to go back to basics, as we have now lost the wood from the Trees and the poor UNP MPs have got their knickers in a twist trying to placate ignorant UNP followers before they can preach to their foes.

I am sorry to have to go through this but most of the commentators have yet to enter pre-school, so they have to be reminded of the procedures and reality, and the facts that have so far come to light.

I am sure the readers know that COPE is merely a collection of MPs of the Parliament of Sri Lanka and in this case tasked with investigating if a crime took place on the so-called BOND SCAM. So what they report is their opinion that is merely a political viewpoint, whether you are JVP, UNP, SLFP, TNA or JO! 

So please don't have high expectations, even though they have sworn the take an oath they really don't understand what that means, due to their level of education. Example being taking duty free vehicles, let alone selling them for a profit, that go completely against the SPIRIT of the Oath!

What they recommend is their opinion. It is up to the Attorney General who knows what can be done within the Law of Sri Lanka to determine under which section of the penal code a prosecution can be made IF FORCED to as in this case. 

A criminal prosecution is what the General Public are screaming for, despite the lack of convictable evidence, the AG will probably use a Public Property line where there is a NON-bailable charge and arrest (remember it is still a Kangaroo Court when you do not have evidence and politics determines arrest) and bring before a Magistrate's Court, and will be remanded for say 2 weeks!

Here you cannot just arrest the Directors of Perpetual, you  have to have complicity, this is ONLY one side of a transaction. You have to arrest the former Governor,(you will not find any evidence of him financially benefiting) or a senior Member of the Central Bank who has leaked this information(You can find evidence of financial benefiting). Then all hell will break loose because the TRUTH will finally come out. It is the Central Bank STUPID who is wholly to blame for making an ass of themselves, by allowing a company to bid on Bonds THEY OFFERED at a high rate of interest.( All along you have found the bidder guilty, not the auctioneer! How Come?) 

Remember all this is done openly, and the facts are all there for all to see, with plenty of witnesses. It is the "law of the jungle" of the PUBLIC that is leading to this Kangaroo situation, and clear distraction from the real corruption that takes place each and every day. Think of the corrupt people, who must be laughing all the way to the Bank seeing this charade, that the Public have now sadly INFLICTED on themselves to feel good.

It is then for the AG to search for the evidence that is admissible in a Court, and you can be sure he will ONLY do so if he can find sufficient incontrovertible evidence. That is NOT the circumstantial likelihood that JO Public is implying took place!

Eventually the case will be dropped for lack of evidence, unless someone can actually prove beyond reasonable doubt that insider trading occurred.

Then Perpetual and its directors will sue the AG's office, Central Bank and the Media for about Rs10B for false imprisonment and defamation of character, because of the trumped up charges the poor AG is forced to make, despite his better judgement, due to the BAYING OF THE CRETINOUS GENERAL PUBLIC!

If you are a reasonably intelligent person with a modicum of knowledge of the law, you will think about it, before coming to your own conclusion. You don't have to believe a word I say, just rationalize the facts and make up your mind. This is NOT an emotional reaction, merely what can and cannot be done.

PRESIDENT SIRISENA - You now understand I hope why the Bribery Commission or the FCID have not brought out a case on this issue. For lack of evidence! I don't have to remind you of this today. Your legal advisers if they were worth anything should have told you that over a year ago, and we are still dragging this story when more urgent matters are left undone. 


The TRUTH ALWAYS fails to connect with the people, who have been brought up on a dose of lies, and that applies to the Politicians, Legal Fraternity, Public Servants, Media, and Academia, so how can we expect any better from the General Public.


Tuesday, October 25, 2016

COPE REPORT - It is important you don't cause a financial crisis

It is obvious that through out this whole saga of the "Bond Scandal" which should read the Central Bank Incompetency Scandal but does not sound as sexy, NO OTHER PRIMARY DEALERS HAVE EMERGED TO FILL THE VOID. NO Risk takers around, why be a risk taker and make profits, when there are so many envious people who hate people making money because they are just smarter!

Therefore it is still, as it is today, left ONLY for Perpetual Treasuries to bid and make money, while the other lazy Primary Dealers have long lunches, and laugh at the way the ignorant public comment on these deals, as being outrageous. They get a vicarious pleasure when Perpetual is hauled over the coals, for nothing they did, except make some big money.

IF Perpetual take revenge and do not bid on any more Bonds for a while, the interest rate is going to climb, the Sovereign Rating is going to take a dive, our interest payments will rise, and all the while the idiots who comment on this with no knowledge, will laugh, while their birthright is being stolen from under them by their simple minded incompetence. Talk about educating the natives!

The US attitude would be for more players to join in this Bond Game, in Sri Lanka the attitude is for the existing Primary Dealers to get together and change the system to what it was before,  to merely divvying up the Bonds amongst themselves with NO RISK, and the Sri Lankan people will in the end receive less.

Has anyone forgotten the days before Bond Auctions, where the issue of Bonds were merely rationed and forced down the throats of the State Institutions at low interest rates. This in turn means low interest rates for the public who save at National Savings Bank and others.

So if I have a commentator who is baying for the blood of Perpetual, because he wants a return to the old system and he just so happens to have parked his money at NSB he is NOT the one having the last laugh! We are laughing at his ignorance. CRETIN

So when we allow the ATA PASS lot to opine on something even they know very little about, and they have no clue when they say to arrest Perpetual, who should be arrested and on what grounds, as NO crime has been committed, while all the while the people have been convinced by these ATA pass that a crime has in fact been committed! It is so easy to fool the Columbians its not funny.

It is this kind of childish action on the part of the people supposed to lead people who are simpleminded, namely the Columbians, that puts at RISK the whole external financing of Sri Lanka.

With a US 50B foreign debt, that will become more expensive to repay, let not the BLOOD SWEAT AND TEARS OF THE SRI LANKAN POPULATION BE ON THE MEMBERS OF COPE, because they wanted to nail someone for political reasons, just to get even with their nemesis Ranil Wickremesinghe, who even I have referred to as a stubborn SOB for appointing Mahendran in the first place, and I made that statement on January 12th 2015 even before he was appointed, in this blog. Long before any implied BOND SCANDAL either!

Every action has an equal and opposite reaction FOLKS, so act with caution and NOT WITH MALICE that seems to have overcome a simple case of a cock up in the CBSL.

Oh How ignorant art thou? General Public!

The ignorance of the General Public is so massive, that they seem to fail to understand that anything coming out of COPE is merely political, from politicians, bent on reinforcing a political agenda, and therefore CANNOT BE TRUSTED IN THE SRI LANKAN CONTEXT

Once the public have already made up their minds on a subject they know nothing about, but which people they appear to trust are pontificating on, it is all the more important that at least the people they trust do actually report the truth. When the media in their blissful ignorance have opined otherwise, the truth gets lost.  They maintain this was a huge daylight robbery perpetrated against the state, SO people, and especially educated people who should at least have a brain to understand between the lines on something as simple as a bond trade, chose NOT to, and take as fact the opinions of cretins in the Media, so full of themselves but full of BS (BULL SHIT OR BOND SCAM take your pick).

In the Bond Scam issue, it is lies piled up upon lies, so much so that the actual crooks, those gentlemen or people at least pretending to be gentlemen, the lifers who serve for life in the Central Bank of Sri Lanka (CBSL FOR SHORT) get off scot free.


IF the auctioneer is the fraud, how can you blame the person who bids, even if he is the only person who bids, and especially if he bids for more items than that on offer. It is up to the auctioneer  to determine if he has some extra stuff hidden, which he wants to give at the same price or not.

It is mind boggling to lay the blame on a person who buys at an auction, and then sells the product for twice that on the next day, to say they should be arrested for making a profit. Actually it is the auctioneer who should be arrested.

The politicians have failed to explain this simple concept, and the intellectual snobs have subscribed greatly to this ignorance, as they are livid that someone can make so much money in a few minutes based on buying and selling bonds. What happens when they lose money? (Serves them right mentality prevails!)

This automatically makes them green with envy, coming to the conclusion that they somehow indulged in some foul play or MUST HAVE BROKEN THE LAW.

I know in the end this will come to nothing as there is NO break in the law, except in technicalities of exceeding borrowing limits etc. for which small fines can be levied, and that too due more in part to the lax behavior of CBSL employees also known as (aka) lazy babies with a grudge.

This is an appeal to the people who have a little bit of common sense left, to ask oneself, how someone can defraud the Central Bank in the purchase of Bonds, as it is the Bank that decides every aspect of the BOND - Namely the Price, the term, the amount, the interest rate, and who to allocate it to!


BOND DEAL: Commercial Bank’s Rs5B debt issue oversubscribed. Time the CBSL Babies do the same!

We were just informed that the Commercial Bank issue of Rs5B of listed debentures was oversubscribed 2 times, and so they will go up to Rs7B.
While the cretins at the Central Bank have been able to craftily shift the blame of their incompetence to Perpetual Treasuries, if they did what Commercial Bank just did, NO ONE will be the loser and the Country will GAIN.

So how about doing this openly for public bidding? I am using this example to explain to the uninitiated General Public how a simple form of debt auction is done. It is clear if there was some favoritism, then it is ALL THE FAULT OF THE CENTRAL BANK STAFF WHO ALLOCATE WHO GETS HOW MUCH, that is at the heart of the abuse. That is how the illegal Private Placements were done by Nivaard Cabraal for so many years, over 6 years I think. Where is the shouting about that?

It is this simple concept that the COPE chairman, who relied on the Auditor General’s comments, does not understand. The Auditor General on the other hand does not appear to have totally understood how important his words are in making his determination of matters such as a loss or profit to the CBSL, because is completely depends on the supply and demand and the prevailing market rates.

So if we take this example above, one can say that Commercial Bank priced their Listed Debenture too favorably, and if they priced it at 11.5% instead of the 5 years at 12% and 10 years at 10.25% it would have been better!

IT IS EASY TO SECOND GUESS and rates and perceptions vary on a daily BASIS, and this is where the PRIMARY DEALERS COME IN to take some of the risk out of the guessers at the Central Bank. Therefore the Auditor General is WRONG to lay the blame on Perpetual for any loss, as it is the CENTRAL BANK which decides HOW MUCH, AT WHAT RATE, TERM to allot.


It is time some respectable people, and NOT JOKERS LIKE WA WIJEWARDENA to opine on this matter, and once and for all shut these know it all KNOW NOTHING Columbian Over Educated Johnnies out of their ignorance.

It is truly SHAMEFUL that so many ignorant people have determined, that due to the Press which is the MOST ignorant, and have NOT done their job of explaining what it is that was wrong, that a crime in fact took place. 


If you read the attached links you can see how ignorant everybody is. COPE especially, but also the Auditor General and most of all the General Public, in the behavior of the CENTRAL BANK IN THEIR COMPLICITY IN CRIME, and WHO SHOULD ALL BE IN JAIL FOR THEIR WANTON LYING IN LEADING EVERYONE ASTRAY!   TAKE ACTION AGAINST WHOSE WRONG DOING? CBSL's

Monday, October 24, 2016

Two avoidable deaths in Jaffna – The police still have a lot of work to do to improve their image

It is very sad that the first instincts subsequent to the killings was to cover it up. It shows how stupid some people in the Police Force are, and their inability to comprehend that this was NOT an option in 2016, as it is NOT MARA on top!

Secondly, this cover-up and later intervention by the PRESIDENT to overturn the obvious inconsistencies, has put the reputation of the Police Force on its 150th anniversary back into the gutter, despite the strenuous efforts of the IGP to build a moral case of “matters are now different” which he has pledged to uphold.

Thirdly, there is NO reason why the POLICE should even shoot at a pair in a motor-bicycle because they were NOT a threat, and if true simply disobeyed an order to stop. It sickens me when people like Nishantha Warnasinghe use some other example where suspects were shot in a bygone age where security was a problem with a war going on as justification for this in 2016, no matter whether it is in the South or North. 

The fact that it was Jaffna, and two Tamil undergraduates merely heightens the angst especially amongst the Tamil population as yet another instance of POLICE use of excessive force. Who can contradict that, even if it was not meant to be and NOT TRUE?

Frankly for the Daily Mirror to even report on Mervyn Silva’s opinion on the manner was poor judgment as the man is damaged goods, who is incapable of making a worthy contribution to such a debate.

The attack of two Govt. intelligence services officers in Chunnakam, soon thereafter adds more spice to the story, with NO clear explanation of what they were doing there, and that too is to the Govt.’s discredit!

It is time we get a grip on this and ensure that justice is done, without delay, which demonstrates the Govt.’s commitment to Good Governance, and showcase to the world that they will NOT tolerate ANY indiscretion amongst the forces who are duty to bound to uphold the law. 

Ironically it was the Forces that encouraged Tamil youth to indulge in alcohol, so that they become dependent, who now due to that weakness have let themselves be killed by the self same apparatus. It is also time the Tamil community stop playing politics and help the people they represent. Serious consideration MUST be given to how policing is done. We must rule out the fact that these Police Officers at their post were NOT also inebriated, so that their judgement was compromised in this stupid behaviour that lead to the death of two young people. A life is a life, and we MUST not allow death as inevitable, due to carelessness on anyone's part. 

What if the youth were NOT inebriated and still chose not to stop at that late hour? Imagine if you are Tamil and are asked to stop by Sinhala Police in Jaffna at that hour. Your judgment may say better not stop, as they are likely to harass, drunk or not. Put yourself in their shoes for once, something all potential aggressors MUST do in being able to evaluate a situation. Clearly the weapons were with those who used it, and so they were in a dominant role of power, not fighting a hidden enemy. Their lack of training and discretion clearly shows.

SWIFT JUSTICE is the only way to save face in this issue, as the perpetrators do not appear to want to tell the truth for some reason. DO NOT LET IT FESTER, because it can only lead to MORE UNPLEASANTNESS and there are many who wish to use this as an excuse to inflame passions for their benefit.

2 articles worth reading about this issue

The leaked COPE Report – giving the COPE Chairman’s point of view!

This is a highly politicized document, by POLITICIANS. An opinion that will NOT stand as evidence even in a Court of Law, but which the General Public have mistakenly taken as the final judgement!

It is time that someone has the guts to explain this as NOT a fact but an opinion, and mention the names and the parties those who signed off on this opinion only.

Do not mislead the Public, as they will believe this hogwash without question, and that is bad for democracy if guilt is presumed in a court of kangaroos. It would have been at least good journalism, if both or all three reports were leaked at the same time to remind people that there are different opinions, and all are by people who are mere amateurs at offering them, with their own agendas. There simply is NO balance in reporting. Colombo Telegraph being particularly guilty of taking sides, on something they really don’t know anything about, but which they have a blind following amongst the KNOW NOTHING know it alls!

The journalists are highly irresponsible for merely pitching this as a story that is now 18 months stale, while the Country is being robbed as we speak by people never being mentioned by them! Why are they worried that they will be sued?

Name and shame time has come. This is a convenient distraction from the real broken yahapalanaya promises, where the evidence is far more cast iron to convict. Why is that NOT happening?

It is clear that a few contrary points of view are not reported, especially by biased reporting in papers such as the Sunday Times, which normally tries to be more objective, but here it seems that the Editor has either been nobbled, or is past his sell by date when it comes to matters of FINANCE.

Perpetual would have made money whether or not Mahendran was in the Central Bank. This has nothing to do with Mahendran, except for his introducing the Auction system prevailing the world over, in an environment where competition was weak due to the incompetence of the State Institutions. As the PM has said time and time again, don’t blame Perpetual for making money, if other Institutions with far greater access to funds did NOT take advantage of the same opportunity to bid. It is this simple premise that the UNP MP’s are sticking to. The only point I will fault the PM on is his appointment of Mahendran in the first place, because his son-in-law was heading a Primary dealership. Therefore there is a conflict of interest, and I pointed this out here, on January 12th 2015 three days into the new Govt.

Had the PM heeded my advice none of this would have occurred. Yes, Perpetual made money due to this void. However do not try and lay the blame on Mahendran. When you get people who think they can second guess in COPE, but do not understand that CBSL itself is rife with unsavory characters holding office, who were compromised during the previous administration, they have conveniently slipped out of prosecution! Why?

They MAY be part of the problem even NOW since Perpetual is still making money with NO Mahendran around. Doesn’t anyone here have any common sense to see the irony of this point? It is sad when we really do not have ANY journalist, who really understands financial transactions and is able to weigh the pros and cons. The reporters are investigative journalists with NO financial nouse! Pretty pathetic ha, repeating what others merely say!

It is time the Excreta is cleaned out of the Central Bank in order to return to Good Practice, and I do not see ONE journalist suggest that! Why? they too are ATA PASS like the LOT in Parliament. Can you expect a reasoned argument under the circumstance? Everyone is parroting the same argument for over 18 months now!

CONCLUSION – The guilty have NOT even been identified by COPE, they still hold senior positions in the Central Bank. It is time they are outed. We must clean out the stables and start again. It is disgraceful that some of our highest paid civil servants need to make money illegally, because for them their salaries are NOT enough.

When their gravy train stopped after Cabraal, they had it in for Perpetual and Mahendran. CBSL staffers’ lies is the thread that COPE hung their hat on. Time they ask the right questions first. Problem – They don’t know what questions to ask. It is the blind leading the blind, and until blind men leave parliament we cannot progress as a Country.

A state bank could have made as much money if they bid at auction. Its never too late, bid NOW, don’t leave it to Perpetual to make the call and make the money, while you are still warming your desks unwilling to bat for the Country.

Thursday, October 20, 2016

The Final Debate – A verdict – Neither deserve to be POTUS

If this was the best the USA can do in 2016, should I say, may God help the USA or the WORLD! It was purely and simply a disgrace.

Even Sri Lankan political arguments have more content and coverage. No problems really resolved, and as the Candidates positions on the 2nd Amendment (The Constitutional Right to Bear Arms) and on Abortion were clearly well known and so were NOT worth even being asked. There was NO give or take on this at all. Then when it came to the allegations of Sex abuse, Trump said what was expected, that it was all made up by Hilary’s team, or that the accusers wanted their 10 minutes in the limelight, and so were NOT true and not worth commenting! As for Hilary with Bill’s sexual proclivities, she simply dodged the subject big time, and Trump let her off the hook, to his credit or his downfall, depending on which side you are on.

As for Isis, it was trading insults with the Don implying Hilary created ISIS, by leaving a vacuum in Iraq, and Hilary on the other hand using his Russian bait as cover.

Frankly, on Mosul, on Aleppo, and the Middle East in general it was clear that Hilary was on the defensive as she really had NO real suggestions of what the US should do, bearing in mind, that Russia, now has the upper hand, definitely backing Assad, while the US has NO BODY to hand their hat on. Even the Saudi action in Yemen is an embarrassment to US policy.

While much has been hyped by the donkeys in the Media, about Trump saying he is leaving everyone in suspense, on whether he will accept the result of the election, it is assumed that Clinton will win. He is right NOT to get into unnecessary answers to questions, as ANYTHING can happen between now and November 8th and if Trump wins, why does he have to bother even answering if the Clinton camp cry foul?

Trump can only rise from this debacle and Clinton can only fall further with people’s resentment of the campaign ads that will be her downfall, and not her rise. 

It is therefore important that the campaign remains civilized, and press do not harp on about the Trump accusers and his treatment of women, as that has NO bearing on who should be POTUS, and if he is unfairly attacked for a known human failing, many previously Hilary friendly voters are going to switch sides, if her campaign gets nasty, living up to her moniker of NASTY HILARY!