| Original Message |
In The Know
Posted Jan 29, 2005 1:10 PM
Washington is an uneducated fool who remains oblivious to the true conspiracies surrounding his idol's (Wingti) past sins. Papua New Guinea remains a bank-leveraged economy and the problems of default risks (i.e. inability to repay loans) was so high that surely the then informed Prime Minister (Wingti) sought brighter pasters for high-risk/high-return investments in foreign equity markets. He had advisors in the likes of fellow alleged conspirators (e.g. Sir Mekere) who were both economists by profession and central bank executives and were collaborative in pulling of the greatest concealed prank move in PNG national history!!
It is commonly known that when the foreign reserves of any national central bank have been depleted, it causes heightened investor (i.e. foreign banks) speculations and hence, a pull out of bank-induced investment funds occurs. Devaluation (1994) than become a necessity to create a more competitive currency for foreign investment. Since bank loans have low risks involved for investors, PNG was placed in a compulsory position to repay. But one must ask, "how did the foreign reserve run short"?? Ask Wingti the US$900 million man who just happened to be the PM just before 1994.. The economic woes of this country such as domestic wages and price instability (macroeconomics) is a resultant of his greedy undertakings leaving many grassroot family in dire straits.
Wingti's greed and hidden actions are generally known or percieved in the eyes of the broader community. To the disappointment of Washington and his Western Highlands cohorts, rest assured that your beloved crook in high office will NEVER return as Prime Minister as long as his eyes blink...
[Note: There are two types of capital markets crucial for investment. There is the bank-leveraged characteristic of PNG's former planned economy and there is the equity-leveraged characteristic of the American private economy.] |
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