Use of shadow money


It’s an interesting documentary aired recently on Saipan Cable that showed how the top 1 percent of the wealthiest folks across the country dispose of their income. For billionaires, the global village is a proving ground influencing the destiny of man the world over from use of digital technology to food they buy for consumption.

Most would use what’s known as philanthropy—a worthy cause of sort—to return some of their largess to communities around the world. Millions of dollars are combined to fight off the deadly Ebola, malaria, bubonic diseases, etc.

But how else do billionaires use their money? In recent years and after the lid is opened for huge political contributions, billionaires did just that—donating to the two parties—like the two presidential election.

One was happy that Obama has kept the oil pipelines from construction. This gives the donor-billionaire the chance to ship oil via his railroad system as far down as Texas. Obama uses the EPA to effectively derail the oil pipeline while the other billionaire employs the jobless and labor unions to counter Mr. O’s agenda. It’s all funded in what’s known nationwide as “shadow money”.

Billionaires have their own elite group that meets in Sweden. The group basically dictates the entire global community’s activities from resources, development and manufacturing to exports. It’s influence at its peak backed by millions of dollars.

Billionaires also control the national media. They have bought into network ownership and national dailies between LA, DC and New York. Theirs is to control the national conversation. In other words, we talk about what they wanted us to discuss spreading their viewpoints—liberal or conservative. Admirable though the conviction of conservative news icons working the clock to recapture the essence of our country as envisioned by the founding fathers.

New Lap Dogs: Our version is basically the same though a new dawn in vicious political phenomenon. It’s up and about with fatally ugly fangs. The “we few” guardians of the people have shifted loyalty as paid lap dogs by their new masters.

It’s the dawn of embracing representation of a new constituency alienating “we the people”. They’ve trashed their relationship with villagers who elected them into office. Well, we shall see how this pans out as we challenge the depth of your conviction and conscience on representation.

Village folks who once stood shoulder-to-shoulder with their representatives must now go it alone. Abandoned, they must endure skyrocketing prices in utilities, basic goods, healthcare and other familial needs. It’s hardship coming from failure of their now alienated representatives to do something constructive. Shadow money is in full bloom here too!

Lost Puzzle

We’re supposed to be good poker players, a game we’ve picked up since the Spanish Era. Our elderly have learned to play it during wakes and community gatherings.

Somehow we’ve lost the skill when to call, roll or hold. Interestingly, we’ve been rolling like there’s no tomorrow. I suppose when there’s that last coin in your pocket you let it loose come what may. Still have the gambler’s courage but not the skills.

When we lose it all we roll-up our sleeves and head home, broke! When you return to the table then you’re probably asking for a double whammy.

I tried to look the other way on the fiscal crisis at home. But my conscience says otherwise. It’s the ordinary folks who need to know the truth. Sadly, the missing puzzle is in our once fully grounded sensibilities.

Magoo: ‘If I Guvanna…’

My friend had a simplistic view of the role of a titular head. But it doesn’t deter him from unloading his bold and oft disoriented views on the issue.

“No more Sisyphus syndrome—rolling up a huge rock to the top of the hill then watch roll down—repeating the same feat all day long”.

I know that we’d end up in Uracas (northernmost island) talking about the fiscal condition of the NMI without new sources of revenue and without solutions to meeting piling obligations.

“Da guys decided not to fund CHC, forego CUC’s debts with CDA, peep if CHC and PSS are threatening to pay some of their cumulative utility debts,” he said. “It’s the new definition of budgeting or skirting paying off debts.”

Related how the pension program would bankrupt the NMI sooner than later. It’s like volcanic eruption where it’s a sure thing except for the question, when? But we’re dealing with demagogues!

John S. Del Rosario Jr. | Contributing Author
John DelRosario Jr. is a former publisher of the Saipan Tribune and a former secretary of the Department of Public Lands.

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