Posts Tagged ‘VNPF’

VNPF

Vanuatu National Provident Fund

 

VNPF Audit Report – 21 December 2012sm

At last a copy of the Auditor General’s Office Summary of the 2012 Audit of the VNPF.

Comment from the writer on the Report’s contents will be forthcoming very soon….

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VNPF

Vanuatu National Provident Fund

There has been no word yet from the new government about the release of the VNPF’s Audit Report. Everyone is waiting, waiting, waiting………

VACC Logo 2-45

Then there is the matter of the government’s UN obligations to legislate the formation of an anti-corruption body. Is this being addressed?


Hopefully, we shall get some answers to these questions from the powers-that-be…….VERY SOON?

VNPF

Vanuatu National Provident Fund

Here is Part Two of Keep Your Grubby Hands Off OUR Money!”  Enjoy….

(Note: All of my media articles can be found on the Home page of “The Watcher”  or here (The Money Connection).

By now, you all know of my passionate interest in anti-corruption and my activist role in attempts to change things for the better in Vanuatu. The Vanuatu government ratified a UN Convention, 2 years ago, wherein an anti-corruption body was to be formed. This has not happened yet and time is running out for the government to meet its UN obligations.

ralph regenvanuFortunately, the new Cabinet includes Ralph Regenvanu, the new Lands Minister, President of the Graon mo Jastis Pati and current Government Spokesman. I say “fortunately” because Ralph is also an enthusiastic anti-corruption advocate. As such, I am hoping and anticipating that he will “make it happen”, sooner, rather than later.

On the world scene, things have also been pretty chaotic – Civil wars in Africa, Cyprus citizens robbed of their savings, calls by Germany for the Italians to have some of their personal wealth confiscated as well (15%), attempted leadership spill in Australia, South Korea and Guam are on “high alert” due to North Korea making a lot of noises about war and Argentina pushing to take over the Falklands again in light of the first-ever commercial oil discovery there. Hope the situation doesn’t arise where another “Maggie Thatcher” is needed again, as in 1982!

A word or two on GOLD. The “mates club” members – IMF, WTO, World Bank, EU, US Federal Reserve and the ECB have done a cracker of a job in their apparent common goal of creating economic chaos. Their so-called attempts to “stimulate growth” have been a hoax. Why? Well, they continue to debase the global currencies ad nauseum and simultaneously decry the value of GOLD (E.g., Ben Bernanke’s stated view that gold is NOT money) but what are they doing in practice? Surprise! They’re buying gold as if there were no tomorrow. For the first time in 20 years, the Central Banks became net BUYERS of gold in 2011 and have retained that position ever since.

VNPF

Vanuatu National Provident Fund

Pension Funds, worldwide, are now pushing to have a proportion of their assets allocated to gold (Hmmm, I wonder what the VNPF’s position is on this?). Note: I know that the current Reserve Bank Governor has stated that Vanuatu has no gold nor is there any intention of having gold in the nation’s coffers.

These two trending factors, Central Bank buying and Pension Fund buying combined with an increasing private demand for gold, stand to push up its prices and in my view, dramatically.

There are many indicators emerging that suggest that 2013 could well be the watershed year for global finances. The issue is not whether we’ll feel any pain from a global financial collapse but rather how much pain and how soon? In times such as these, gold always proves its worth as a “store of value”. Got some? No? Get some.

You’ve seen the headlines by now, you know – the “Independent”‘s – “Nepotism ‘rife’ in gov’t”…….”Kilman apppoints brother to VNPF Board”.

sucker punchWhoa….What a sucker punch!!! – right to YOUR face – blind-sided by yet another cowardly blow from the Kilman corner.

Somehow, the Page 3 headline in the Daily Post doesn’t quite cut it, in my view, anyway – “Kilman and Garaebiti appointed to VNPF Board”.

Tell it for what it is lads…..NEPOTISM = CORRUPTION!

“Chinese factory will extract kava lactones for export: Lini” Daily Post – today….

It would be interesting to see what the lads down at “The Kava Emporium” might have to say about this. They invented the totally unique non-chemical, water-based, kava lactone extraction process that is now used for both local kava and kava product consumption (such as Kava Cola, Kava Chocolate, Kava Cordial and the like) and for export to a variety of countries.

When Ham Lini went to China, I know for a fact that the Vanuatu kava “sample” he took with him came from “The Kava Emporium”. 

The thanks the lads got from Lini was two-fold – no feedback from the Trade Minister or his Department and then…..not even invited to the “Kava Conference” held recently. Go figure that one…key players in the kava industry here.

Maybe the government would be better off recognizing the fact there are already significant numbers of both Ni-Vanuatu and expat people already working together in a successful and productive capacity in this industry. So….

…instead of having the Chinese build a factory wherein THE PROFITS will be repatriated back to China and other places outside of Vanuatu (and goodness knows into whose off-shore bank accounts!?), WHY NOT establish a Vanuatu-owned facility of the same magnitude, using Chinese money if you have to but please – stop this LUNACY of selling off the birthright of the Vanuatu people – the nation’s sovereignty, as part of the process.

“Claims of favouritism in scholarship awards” – another front-pager from the “Independent”.

No doubt you’re as surprised as I am (LOL) that no-one would provide the Independent with a list of the Awardees. That would constitute “TRANSPARENCY” – an absolute “No, no” with this government, it seems.

It just gets better and better, doesn’t it?

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The Vanuatu Government has gone into caretaker mode due to the upcoming elections on 30th October.

The BIG QUESTION is“Will we have more of the same after October……more corruption, political cronyism, “Big Man” attitude, blatant law-breaking by politicians, a powerless Ombudsman, more “jobs for the boys”, poor health and education facilities, lack of accountability and transparency in the actions of senior bureaucrats and pollies and organizations such as the VNPF and the Lands Dept? Will we continue to have a country run by self-serving illiterati who care about nothing other than making sure they keep their place at the trough?”

In 60 DAYS FROM NOW, you will decide whether you want Vanuatu run by crooks (again) or by decent, caring men and women – people who GENUINELY care about Vanuatu’s cultural traditions and the welfare of its citizens and residents alike. VOTE……and VOTE WISELY!

Why "VANUATU GOLD"?

Why choose “VANUATU GOLD” as my heading?

Simple – I have been living in VANUATU for over 7 years and I am a firm believer in the merits of investing in GOLD!

VANUATU is a treasure in itself. “Yes!” – of course it has its own frustrating elements about it. It takes time to get anything done here (just ask anyone who is building a home here or has to have any dealings with the Lands Dept.) and as for the shopping – bloody expensive (due to the cost of imports) and a very limited range of goods available. On the upside, however, is the lack of restrictive Rules & Regulations, no traffic lights (you gotta love that!), NO INCOME TAX, wonderful people with a strong attachment to their traditional culture and great weather.

GOLD is the one element on this planet that is virtually indestructible! Every culture throughout history has revered it. Governments print “money” without apparent fear or favour (look at the US at present) and have their economic policies based on false premises. HOWEVER, those economies/currencies which are backed by strong GOLD reserves are those that will ultimately do well/better during times of financial crisis or what may be coming and that is – a financial holocaust. Which currencies would I invest in right now? Easy – the Swiss Franc and the Yuan. The $US is an absolute basket case. The US government’s bail-out policy (and those of follower nations such as the Eurozone and Australia) of ‘rescuing’ private commercial enterprises such as the banks, finance companies, car manufacturers and the like is DOOMED to failure. It is at best a band-aid solution to a situation that requires major surgery without anaesthetic. If we don’t bear the pain now, it will become a financial near-“life and death” situation sooner than most people realize. Watch out in in late 2012 as I believe that’s when it will “hit the fan”! Soooo – consider your GOLD position before then.