In today’s financial mess three people in three conversations or instances are called to mind: the first, in 1989, is Stokely Carmichael/Kwame Ture ex-co President of Guinea-Bisseau now deceased.
ME: How does Stokely Carmichael differ from Kwame Ture?
Kwame: The difference between the young man and the old man is that I see more clearly. My views are stronger today than they were in the 60’s. My views have found acceptance by everyone because they are the truth. The old Kwame is more knowledgeable, more experienced and more determined to destroy unjust systems - more determined in my fight for justice. I am more scientific in my understanding of the fight. In my early years I thought we could destroy American imperialism, today, I know it is going to be done.
ME: What is it?
Kwame: It is a fight for justice. Until there is justice there can be no civilization. People instinctively understand this fight. Anywhere there is injustice, these injustices will lead to war based on the instinctive love of justice, which all human beings have.
The Irish have been fighting for 800 years and they have no intention of stopping. That is clear; though out-numbered, though out-manned, though out-gunned, though out everything they continue to fight. The American Indian continues to fight; though out numbered, out gunned, out everything he continues to fight. So we must continue to fight for justice. The oppressive system wants to make us sleep. Ever wants to make you think while you are a slave you should enjoy yourself and forget slavery.
JOHN CUMBERBATCH - in his letters of 1995 put together under his title
Scientific Revolution 1995
John Cumberbatch from a middle class family, the first coloured head boy of Harrisons College re-instituted the Barbados teachers Union and formed the Caribbean Teacher’s Union.
Open Letter to the Disheartened Left & the Disinherited Children of the Earth
Certainly it may be expected to look like the end of the world but it will be the end only of capitalism, the capitalist construction of a world order of chaos, 1995.
It is the likely pending collapse of Kapital on its own weight that must give the Left cause for pessimistic but and essentially optimistic i.e. realistic thought to pause and consider and interpret.
In other words I am suggesting that an accurate reading of the global position, including the collapse of really existing socialism, does not by any means signal a collapse of revolution but the collapse of Kapital of which really existing socialism is a stage, except in its transitional potential for a more logical breakdown of the state, the hallmark of Kapital.
How long can the new fourth world periphery last? Can it feed Europe and then help Europe, the monopolist, to feed the rest of the world, including the fourth world itself, which will get fed last of all?
Ask the computer.
How long can chaos so long in building from before “Ancient Egypt” now last?
“I-told-you-so” meaning man is capitalist by nature is now written seemingly across the faces of all the materialist-capitalists. I think the Left’s turn for “I-told-you-so” will be real and it’s coming should be more carefully and scientifically explored. I doubt not that it will be at a critical juncture in the midst of all the hollow hurrahing from the Right.
So far inner neglect has led to a woeful outer mess and this, in turn, has rebounded upon a confused man. We have conquered outer space but alas it is inner space that still presents the major real challenge to man.
The ruinous conditions out of which the revolutionary phoenix, the black bird, will have to rise, as and by himself sans state and but the barest economic allowance.
... The important thing now is not to pretend you’re happy when you’re blue but to stick to the beaten track of scientific suffering - sacrifice, offering - in exchange for a desire of our true inheritance, which I shall say contentiously is freedom, even without material - any more, at any rate, than a rightful allowance - and the beaten academic track of scientific history, the interpretation of the development of socio-cultural trends in chronological history (over time).
… The challenge will be presented by the whole record of the history of underdevelopment via the Kapital class and state.
This new, definitive and critical stage of revolution is one that will accentuate individual readiness for the responsibility of freedom as culture in every critical aspect and respect.
… In these “new” conditions the Left should by now be well-chastened and more than wary of presenting social prescription for development, the development of society, which involves the instrumentality of central planning of industrial state slavery.
… Counter-revolutionary capitalism is on the rise in China too. Cuba, a Russian satellite, is looking for holes and Algeria is yet to escape from Islam. Ethiopia and Vietnam are traversing phases already covered by the early Marxist revolution countries but the failure being experienced in these can only perhaps dishearten these new comers; in any case however, revolution and its set is a thoroughly individual affair, how so and where to seek, as how and why all wrapped up in one, remedy, redress, restitution and recovery.
Those who are disheartened, disinterested and wretched will have to know for themselves.
It certainly has to be acknowledged that although really existing socialism went beyond the West Kapital culture model of political economy by removing the internal class of the bourgeoisie, it:
1) was still of the nature of Kapital did not escape, rather even accentuated, the socio-centralizing, totalitarian nature of the state; and
2) was assuredly kept on a capitalist, competitive mass-production course by the globally contexting aggressive capitalists mercantilism of the international western bourgeoisie. In other words, it was and has been abundantly clear that really existing socialism had and has more ground to cover on its road to revolution.
Proletarian progress towards revolution thus consolidated and stabilized at the dictatorship of the proletariat and now, in the last two decades, has threatened to relapse into the status quo ante on its Eastern Europe home ground, is particular significantly. It is, however, precisely this experience of proletarian dictatorship, the state-rule of the educated elites, which has been necessary to expose the un-revolutionary ethos of this stage of revolution and to increase the plausibility of the Left’s further historical scientific prognostication and goal via the withering away of the state. …
Accountant for the Stragetic Air Services/SAS, and Son of former Attorney General E.K. Walcott
ME: Rocky, the Bank of England yesterday warned that more large companies maybe vulnerable to an Enron style collapse triggered by loan conditions linked to credit rating. The Bank said quote: ‘tightly drawn contracts directly linking company payments and liabilities for borrowing to credit ratings so called hard wiring pose a risk providing collapses in susceptible firms viability. Such contracts mean that heavily indebted companies that suffer a downgrade to credit ratings can then face demands or additional collateral under covenants on their corporate bonds and other loans which they are unable to meet.’ What does that mean?” That was in 2001 and an article in the Times of London.
ROCKY: What the Bank of England talks about is called creative accounting cooking the books to look better than it is Xerox gone, Enron gone and World Com gone. The Times told us but they never use simple words and will not call a dog flea, a dog flea, they call it by its generic name for they do not write for the common people they write for the upper class.
Man I am a low speaking man and I call a spade a spade.’ Said the low English man and the conservative said. ‘Yes, old chap, but there is no need to call it a bloody shovel. How is a good credit rating achieved?”
ME: I do not know.
ROCKY: “Work for $3000.00 per month and every month put that $3,000.00 in Scotia Bank and then draw down expenses. Scotia Bank does not look at expenses they give ratings on five times the monthly income that is $15,000.00.
Consult a creative accountant and he will put the $3,000.00 in the bank, withdraw $2999.00 and keep it, put a dollar with it and put $3,000.00 back in the bank.
Do this ten times in a month to have an income of $30,000.00 a month. Do this for a few months and have a credit rating of $150,000.00. With this big credit rating $150,000.00 can be borrowed.
Borrow that amount and put it in another bank, Barclays. Put the $150,000.00 in ten times a month and that is an income of $1.5 million. Barclays will give a credit rating of $7.5 million.
Register You inc. and issue bonds on that. Say: ‘If you have money to spare invest with You inc. who has a credit rating of $7.5 million and cannot go broke. Everyone can see the credit rating of $7.5 million from Barclays because it is on paper and can be used for bonds that pay commission up front but on paper.
The Security and Exchange people will allow the sale of $1,000.00 bonds at $600.00. Leave the truth alone and get to the facts fax and churn out bonds because people want guarantee returns of 4 percent. If they are ten year bonds the buyer gets $400.00 up front on a piece of paper that states that there will be payment in ten years and You Inc. gets $600.00 in money.
You Inc. has sold $7 million in bonds and has 60% of that money. The buyer will get back $1000.00 in ten years, if they are alive and in the island in ten years because by then You Inc. has withdrawn millions changed it into U.S and gone to Cuba and You Inc. collapses before the ten years is up.
Actually the way that You inc. collapses legally is to appoint Leroy Jones whom they have brought in as a new director and appoint Elvira Smith, another director, then the old director resigns and Jones and Smith now run the company, which now collapses.
The Bank of England says that because these large companies are linked to credit rating the whole thing can collapse and that if Barclays gives credit rating then Barclays should lend the money. That is what it was originally; people who issue credit ratings lent the money for a credit rating can be shown to anyone and cannot be checked with the bank because that information is private.
The Bank of England says do not invest money on the basis of loans linked to ratings instead of loans linked to liquid assets because other assets can take time to turn to money. In the third part the Bank writes about ‘tightly drawn contracts.’ They are the ones with no loopholes in them they are drawn up by a solicitor or lawyer but a first class lawyer not one of the Cave Hill kind. The contract between Shylock and Anthony was not a tightly drawn contract because it did not have the blood included. A tightly drawn contract would have taken into account the blood.
ME: What does this mean?
ROCKY: Do not forget about covenants when making all this money.
Give a fellow 100 bonds and he covenants to pay $300.00 every year. A covenant is a legal promise to pay.
The Security and Exchange people is called different in every country. The American established a stock exchange and made their stock exchange a gambling house and who oversees the Stock Exchange and do nothing but sit and pull on big cigars the Epsteins and Bernsteins, Goldsteins, and Rubensteins all the steins – Jews. To gamble is abuse of the Stock Exchange. The purpose of a stock exchange in England was to sell stock and buy stock and to get companies on that stock exchange was strictly regulated.
Companies that are on the British Stock Exchange have to reveal everything about the company with signed accountants and detailed audit that have to be absolutely accurate.
If they are not correct and do hank panky, they are locked-up with great pleasure. If there is a management this and a management that and they are not accountants of course profits could be increased. The people, who were stung in Enron, were basically gamblers, had no interest in the industry in which they bought stocks; like a Lotto ticket, they buy Enron and next year make a big profit.
A person that starts up a business and looks for capital to buy machinery, sympathies can go to them. What happens on the Stock of Exchange in Barbados? What requirements are necessary to be given to the Security Exchange? The stock exchange in Canada is also a gambling house. …
God Have Mercy by Angela Cole published 2002