CBL Gov. Mills Jones pic: liberianobserver
Why are some Liberians calling the CBL Governor, a “poverty doctor”, for his generosity with other people’s money? Is that the new definition of the word “doctor”? I don’t think so….. (Re “Western Liberians Hail CBL Governor As a Poverty Doctor”, Daily Observer Online, 06/02/2015)
But hey, if Governor Mills Jones is a “poverty doctor”, why isn’t his pill for poverty working, hmmmmm? We all know that Doctor Jones’ pill for curing poverty is the CBL’s micro finance program. Under that program, market women, yannah boys, and Mills Jones’s lapdogs are given unsecured loans, backed by the Liberian government, to start or grow their small businesses.
But most of these people look at these unsecured loans as free government money! That’s why you see them dancing in the streets when Jones shows up! Free money is music to their ears!!!
But who do you think MUST foot the bill when these people default on their loans? Jones will be long gone when these collateral-free loans (da free government money) go into default. And 99.999999999999 percent of them will. Ultimately, the Liberian people (present and future taxpayers) will have to pay back these risky loans one way and another!
And while we’re on that subject, where the hell does the CBL gets its power to lend the people’s money to market women and yannah boys?
Part IX (Prohibited Operations of the Central Bank of Liberia), Section 44 (1)(c) says that “The Central Bank shall NOT make unsecured advances, whether by loans or overdrafts, except as provided in Section 32 (c)(ii). And nowhere in Section 32 talks about making loans to lift Mill Jones’ family and friends out of poverty!
But when you look at the CBL’s 2014 Audited Financial Statements, you see US$5 million in UNSECURED loans disguised as Loan Extension and Availability Facility (LEAF) to market women, here-now boys, and Mill Jones’ free wheel dealing!
Besides that, Governor Jones have been operating the CBL at a loss. For 2012 and 2013, when Governor started building his mansion in Sinoe County, our central bank posted operating losses of US$10 million and US$14 million respectively.
In 2014, the loss should have been US$18 million, but the Supreme Court of Liberia released the CBL of a US$12.4 million obligation to TRADEVCO bank because, according to the Court’s decision, “Tradevco does not exist as a corporate entity” anymore! So the CBL’s accountants recorded the Tradevco release as OTHER INCOME because that was money they had to pay back, but now they can keep it…
You don’t have to be a CPA to know what’s going at the Central Bank. All you need is some common sense! If you don’t believe anything I’ve said–just go look at the audited financial statements on the CBL’s website and make your own decision.
On the other hand, if I continuously ran my business in red (losing money), you’d think I’m crazy to lend money to my free-loading family and friends, right? And if I were to print money for my business, you’d say it’s counterfeiting, and call me a counterfeiter or a fraudster, won’t you? And if I were to write a check for money I didn’t have, you’d call it stealing, and call me a born rogue, right?
But wait…Why do you call our Executive Bank Governor, who loses money (year in and year out) running the CBL; prints money out of thin air, lends money to market women that we don’t have any to speak to begin with, a poverty doctor? Do you have rocks in your brains?? Enough of your silliness!
!f Jones were a poverty doctor, he’d use his own damn money to cure poverty and fund this lucrative boondoggle (micro finance program), but he won’t. Instead he goes around the country, acting like Santa Claus, giving away “free government money” (unsecured loans) so people can vote for him in 2017.
Read my lips: Joseph. Mills. Jones. Is. Not. A. Poverty. Doctor. He. Is. A. Poverty. Pimp! And like all poverty pimps, he profits from pretending to be champion of the poor while screwing the poor Liberian taxpayer!