Letter to the Editor: William Magnusson on The Belize Bank Stock Price
Saturday, May 2nd, 2015
The Belize Bank stock has dropped from $5.00 a share to $.20 a share. A whopping 96% loss. How can this be in an improving economy? Did this have something to do with Mr. Ashcroft’s recent visit? Is there a conspiracy afloat to deliberately collapse the bank, thus destroying the economy of Belize just before an election? Is the leadership of the PUP in on this plan so as to blame it on the present government and win the election? They seem pretty confident of winning and holding on to power. Why are they so dogmatic in the, “us 4 and no more” policy of the party, considering their own people are rebelling against them. Only a miracle could win them to the election, a miracle perhaps in the form of a wealthy English Lord.
Should the bank fail, your savings could go with it, along with any property or goods you have mortgaged with them. In an “economic crisis,” the bank can foreclose on loans even though those loans are up to date. This foreclosure could be selective, driving UDP supporters into economic ruin and the waiting arms of the PUP, who will no doubt, blame it on the Government.
If this is true, IT IS TREASON. Those responsible should be imprisoned.
I strongly urge the Government to thoroughly investigate and audit the Belize Bank and find out the truth before it is too late. I personally have closed out my account with this bank, including my credit card.
Using banks to economically run nations for personal gain is nothing new to the English or the billionaires club. They rule and conquer with money not guns. Ashcroft has an “axe to grind” and YOUR HEAD is on the block.
God Help Us.
/s/ William Magnusson
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