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Reply to "The Guyana dilemma"

ksazma posted:
Danyael posted:

It is a constitutionally prescribed account held in Bank of Guyana.  They said it was broke because they paid for gold at one price and the market fell out so they lost 600 million dollars. I did not think it was possible then and still do not. The fund was overdrawn when the APNU entered office and the bank of guyana would not lie.

The overdrafts  should be off set by what is owed by the gold board but the accounting there is shabby  so what is there is still not publicly known. One can estimate it, if their statement that 600 million was spent in buying gold then we should have  that much in gold in 2014 price paid to miners. I do not know what it was so I cannot calculate the amount.

So what you are saying that at best it is a statement based on assumptions. When the Government first made this statement, did they have the obligation to base it on facts or was it good enough for them to just make assumptions?

If you are overdrawn you are broke simple as that.

FM
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