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.

No comments:

Post a Comment