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Home > LETTERS > Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

January 30, 2015

ABOUT two years ago, in a debate in Parliament on the external debt of Guyana, Mr. Moses Nagamootoo was publicly humiliated when he was unmasked for quoting incorrect figures and flawed analysis on Guyana’s debt, leading to the unavoidable conclusion that Mr. Nagamootoo is quite illiterate when it comes to financial matters. In fact, it seems that this gentleman has a problem with numbers in general, and with basic arithmetic in particular.

Let us examine his latest venture into the issue of foreign reserves. He points out that the reserves have declined by US$226 million. He then says that this could not be explained by declining exports because export revenues from the three main commodities (sugar, bauxite and gold) declined by G$65 billion.

In case Mr. Nagamootoo does not know how to do simple division, G$65 billion is equal to US$317 million at an exchange rate of 205 to 1.

So please, Mr. Nagamootoo, why can’t a US$317 million decline in exports not explain a US$226 million decline in foreign reserves, all else equal?

It seems to me, Mr. Nagamootoo, that you have a problem with not just economics but also with arithmetic. You need more urgently to go back to school, Sir, and not to the Office of the President, which appears to be your lifelong desire notwithstanding your evident incompetence and illiteracy.

KRISHNA DOONAUGHT

Replies sorted oldest to newest

alena06Senior Member

The fella calculator was probably malfunctioning.

1/31/159:27 AM

Former Member

Originally Posted by yuji22:

Home > LETTERS > Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

January 30, 2015

In case Mr. Nagamootoo does not know how to do simple division, G$65 billion is equal to US$317 million at an exchange rate of 205 to 1.

So please, Mr. Nagamootoo, why can’t a US$317 million decline in exports not explain a US$226 million decline in foreign reserves, all else equal?

KRISHNA DOONAUGHT

This is straight up bull. Getting information about Guyana's reserve and spending is like pulling teeth. Naga was commenting on what he thought constitute the decline and not what he knows for sure. He actually insinuated some fiddling going on. The writer need to worry about explaining that than be pedantic about simple division.

One has to question since the answer is buried in lots of useless fluff. It is the same with GDP and unemployment figures. They are build on air.

1/31/159:32 AM

NehruBig Mouth Member

HAHAHA But on the good side he has Stormy to defend him and explain real Arithmetic.

1/31/159:37 AM

alena06Senior Member

Originally Posted by Stormborn:

Originally Posted by yuji22:

Home > LETTERS > Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

January 30, 2015

In case Mr. Nagamootoo does not know how to do simple division, G$65 billion is equal to US$317 million at an exchange rate of 205 to 1.

So please, Mr. Nagamootoo, why can’t a US$317 million decline in exports not explain a US$226 million decline in foreign reserves, all else equal?

KRISHNA DOONAUGHT

One has to question since the answer is buried in lots of useless fluff. It is the same with GDP and unemployment figures. They are build on air.

'Reserves' are the trickiest things to track. Many things on a balance sheet are hidden in reserves. Don't forget our own President Obama tapped into our oil reserves in 2011 against the wishes of many.

1/31/159:41 AM

Former Member

Originally Posted by Nehru:

HAHAHA But on the good side he has Stormy to defend him and explain real Arithmetic.

Bhai

The dunce Moses cannot even count properly and he wants to become a President.

1/31/1510:04 AM

MitwahSenior Member

Originally Posted by yuji22:

Originally Posted by Nehru:

HAHAHA But on the good side he has Stormy to defend him and explain real Arithmetic.

Bhai

The dunce Moses cannot even count properly and he wants to become a President.

Moses is by far more educated than you.

1/31/1510:40 AM

Former Member

Moses Nagamootoo is not the only top-class Guyanese politician that can be classified as financially illiterate, if in truth he is. That's why politicians of Moses' stature employ advisers. Krishna Doonaught has a chance to become Moses' financial adviser if he applies.

1/31/1510:48 AM

Former Member

Originally Posted by Stormborn:

Originally Posted by yuji22:

Home > LETTERS > Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

January 30, 2015

In case Mr. Nagamootoo does not know how to do simple division, G$65 billion is equal to US$317 million at an exchange rate of 205 to 1.

So please, Mr. Nagamootoo, why can’t a US$317 million decline in exports not explain a US$226 million decline in foreign reserves, all else equal?

KRISHNA DOONAUGHT

One has to question since the answer is buried in lots of useless fluff. It is the same with GDP and unemployment figures. They are build on air.

A Politician should not engage in things about the economy and finance he is not sure about, because one day it is going to come back and bite his ass. And bite his ass it did!

1/31/1510:56 AM

MitwahSenior Member

Originally Posted by alena06:

The fella calculator was probably malfunctioning.

Krishna can't even spell his last name correctly.

1/31/1511:09 AM

Former Member

Ehehehehehe...Jagdeo and Bobby Berbice bridge na mek prafit. Who a de financial guru now? Hey hey hey...

1/31/1511:11 AM

Former Member

sat Originally Posted by yuji22:

Originally Posted by Nehru:

HAHAHA But on the good side he has Stormy to defend him and explain real Arithmetic.

Bhai

The dunce Moses cannot even count properly and he wants to become a President.

Rumouthar the " economist " was fooled by the estimates presented by Omai when they planned to build the structure which collapsed and spilled chemicals into the environment.....

Rumouthar the " economist " couldn't understand the reports showing the negative projections of GUYSUCO when he sat on the board......

Rumouthar the " economist " is now the president of the republic ! ....

1/31/1511:11 AM

Former Member

Originally Posted by Churchill:

sat Originally Posted by yuji22:

Originally Posted by Nehru:

HAHAHA But on the good side he has Stormy to defend him and explain real Arithmetic.

Bhai

The dunce Moses cannot even count properly and he wants to become a President.

Rumouthar the " economist " was fooled by the estimates presented by Omai when they planned to build the structure which collapsed and spilled chemicals into the environment.....

Rumouthar the " economist " couldn't understand the reports showing the negative projections of GUYSUCO when he sat on the board......

Rumouthar the " economist " is now the president of the republic ! ....

Hey hey hey...Ramotar tek de Omai money. Hey hey hey...

1/31/1511:12 AM

Former Member

Originally Posted by Dondadda:

Originally Posted by Stormborn:

Originally Posted by yuji22:

Home > LETTERS > Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

January 30, 2015

In case Mr. Nagamootoo does not know how to do simple division, G$65 billion is equal to US$317 million at an exchange rate of 205 to 1.

So please, Mr. Nagamootoo, why can’t a US$317 million decline in exports not explain a US$226 million decline in foreign reserves, all else equal?

KRISHNA DOONAUGHT

One has to question since the answer is buried in lots of useless fluff. It is the same with GDP and unemployment figures. They are build on air.

A Politician should not engage in things about the economy and finance he is not sure about, because one day it is going to come back and bite his ass. And bite his ass it did!

like how you bite kwame ass

1/31/1511:13 AM

Former Member

Originally Posted by Churchill:

sat Originally Posted by yuji22:

Originally Posted by Nehru:

HAHAHA But on the good side he has Stormy to defend him and explain real Arithmetic.

Bhai

The dunce Moses cannot even count properly and he wants to become a President.

Rumouthar the " economist " is now the president of the republic ! ....

And Churchill was left with a big Katahar in his hand.

1/31/1511:14 AM

Former Member

Originally Posted by yuji22:

Originally Posted by Churchill:

sat Originally Posted by yuji22:

Originally Posted by Nehru:

HAHAHA But on the good side he has Stormy to defend him and explain real Arithmetic.

Bhai

The dunce Moses cannot even count properly and he wants to become a President.

Rumouthar the " economist " is now the president of the republic ! ....

And Churchill was left with a big Katahar in his hand.

And that katahar was cooked and given to Rumouthar in 2006....

1/31/1511:17 AM

MitwahSenior Member

Originally Posted by yuji22:

Originally Posted by Churchill:

sat Originally Posted by yuji22:

Originally Posted by Nehru:

HAHAHA But on the good side he has Stormy to defend him and explain real Arithmetic.

Bhai

The dunce Moses cannot even count properly and he wants to become a President.

Rumouthar the " economist " is now the president of the republic ! ....

And Churchill was left with a big Katahar in his hand.

How is that better than Kwamee's curd in your hand you swallowed?

1/31/1511:20 AM

Former Member

Originally Posted by warrior:

Originally Posted by Dondadda:

Originally Posted by Stormborn:

Originally Posted by yuji22:

Home > LETTERS > Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

January 30, 2015

In case Mr. Nagamootoo does not know how to do simple division, G$65 billion is equal to US$317 million at an exchange rate of 205 to 1.

So please, Mr. Nagamootoo, why can’t a US$317 million decline in exports not explain a US$226 million decline in foreign reserves, all else equal?

KRISHNA DOONAUGHT

One has to question since the answer is buried in lots of useless fluff. It is the same with GDP and unemployment figures. They are build on air.

A Politician should not engage in things about the economy and finance he is not sure about, because one day it is going to come back and bite his ass. And bite his ass it did!

like how you bite kwame ass

Like you can't think straight. Somebody said that they saw you last night giving Kwame a batty wash. Ah hear you like doing dem things da when you are not wrting trash here.

1/31/1512:38 PM

Former Member

Originally Posted by alena06:

Originally Posted by Stormborn:

Originally Posted by yuji22:

Home > LETTERS > Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

January 30, 2015

In case Mr. Nagamootoo does not know how to do simple division, G$65 billion is equal to US$317 million at an exchange rate of 205 to 1.

So please, Mr. Nagamootoo, why can’t a US$317 million decline in exports not explain a US$226 million decline in foreign reserves, all else equal?

KRISHNA DOONAUGHT

One has to question since the answer is buried in lots of useless fluff. It is the same with GDP and unemployment figures. They are build on air.

They are talking about foreign exchange reserves not oil reserves.

1/31/1512:40 PM

Former Member

Originally Posted by TK:

Originally Posted by alena06:

Originally Posted by Stormborn:

Originally Posted by yuji22:

Home > LETTERS > Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

January 30, 2015

In case Mr. Nagamootoo does not know how to do simple division, G$65 billion is equal to US$317 million at an exchange rate of 205 to 1.

So please, Mr. Nagamootoo, why can’t a US$317 million decline in exports not explain a US$226 million decline in foreign reserves, all else equal?

KRISHNA DOONAUGHT

One has to question since the answer is buried in lots of useless fluff. It is the same with GDP and unemployment figures. They are build on air.

They are talking about foreign exchange reserves not oil reserves.

I was gonna be nice and not point that out

Man, it's reserves at the end of the day. Money, oil, army. Same ting. It's even in de name "reserves"

1/31/1512:42 PM

Former Member

The foreign exchange exchange market is under pressure as gold price decline and more restrictions are placed on the coke derived lumpy 'remittance' inflows. When that happens the central bank sells reserves to the market to ease the pressure. That's why reserves are declining. The export sector is not doing as well as the government would have us believe.

1/31/1512:44 PM

Mr.TI pity the fool

A lot of the reserves are also being flown out of Guyana by the PPP via private jets etc.

1/31/1512:47 PM

Former Member

Originally Posted by Mr.T:

A lot of the reserves are also being flown out of Guyana by the PPP via private jets etc.

Well those could have been part of official FX reserves if they were not flown out indeed.

1/31/1512:51 PM

Mr.TI pity the fool

Some of the gold reserves were taken out by boat. One shipment got intercepted not so long ago.

1/31/151:06 PM

Former Member

Originally Posted by Stormborn:

Naga was commenting on what he thought constitute the decline and not what he knows for sure.

Usual ill thoughts rather dealing with facts and realities.

1/31/151:21 PM

alena06Senior Member

Originally Posted by Shaitaan:

Originally Posted by TK:

Originally Posted by alena06:

Originally Posted by Stormborn:

Originally Posted by yuji22:

Home > LETTERS > Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

January 30, 2015

In case Mr. Nagamootoo does not know how to do simple division, G$65 billion is equal to US$317 million at an exchange rate of 205 to 1.

So please, Mr. Nagamootoo, why can’t a US$317 million decline in exports not explain a US$226 million decline in foreign reserves, all else equal?

KRISHNA DOONAUGHT

One has to question since the answer is buried in lots of useless fluff. It is the same with GDP and unemployment figures. They are build on air.

They are talking about foreign exchange reserves not oil reserves.

I was gonna be nice and not point that out

Man, it's reserves at the end of the day. Money, oil, army. Same ting. It's even in de name "reserves"

Darn, my bad, different reserves..TK you're right.

1/31/155:52 PM

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Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

Moses Nagamootoo displays his financial illiteracy once again

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