(Barbados Nation) – Barbados is putting an initial US$5 million (BDS$10 million) into a “Liquidity Support Fund” to help maintain the viability of troubled financial giant CLICO and its subsidiary British American in the Eastern Caribbean Currency Union (ECCU).

This was one of the decisions reached at a top level meeting of regional finance ministers and officials last week in Antigua seeking support for the financial sector in the sub-region.

Guyana’s Stabroek News had quoted a release from the meeting, attended by Prime Minister David Thompson, as saying it “considered mechanisms for cooperation among the member states of Barbados, the ECCU and Trinidad and Tobago and agreed on a strategy that would maintain the viability of British American and CLICO in the ECCU in order to safeguard the interests of policyholders of those institutions”.

Privatize Profits, Socialize Losses

I watched the two videos below.  The phrase “Privatize profits, socialize losses” grabbed my attention. In the US, the banks made money while the going was good. Profits went to the shareholders.

When the banks failed, the US Government stepped in and bailed them out. It seems that the same thing is happening with CLICO. When profits were being made by CLICO in Barbados, private citizens were prospering. Now public funds are being used to shore up non-governmental companies.

Argentinean Adrian Salbuchi Talks About the Global Financial Collapse

Topics of the Information Clearing House’s  Global Financial Collapse video, posted April 07, 2009

An Argentine opinion on the Global Financial Crisis, describing the whole Global Financial System as one vast Ponzi Scheme. Like a pyramid, it has four sides and is a predictable model. The four sides are: (1) Artificially control the supply of public State-issued Currency, (2) Artificially impose Banking Money as the primary source of funding in the economy, (3) Promote doing everything by Debt and (4) Erect complex channels that allow privatizing profits when the Model is in expansion mode and socialize losses when the model goes into contraction mode.

How will the Global Financial Collapse end?