Published On: Fri, Sep 9th, 2016

In Ennia We Trust?

When it comes to money, trust is an important factor. As in all things we must trust in God. That is why it is printed on the dollar bill. Then we must trust in the money itself. Trust that when we get paid that the money will retain its value and purchasing power to allow us to buy the goods and services we need. Finally, we must trust in our fellow man. Trust that he will pay the money that is owed to us. Trust that the banks will keep our money safe. Trust the insurances companies will pay out our pensions when the time comes. We all trust that our fellow man stick to the agreements made where our money is concerned. We trust that our fellow man is god-fearing enough to not abuse the trust we put in them and in the money we have entrusted to their care.

So what is the issue with Ennia? Do we trust Ennia? Do we trust the people that run Ennia? Do we trust the man that owns Ennia? Do we trust the Central Banks that are supposed to supervise Ennia? Do we trust the people who run the Central Banks? That is a lot of trust we have to have in our fellow man and the entities we entrust with the management and care of our money. Do we have a choice? Apparently, we don’t! Because even though it is our money, the news reports about Ennia shows us that the man that owns the company that manages our money, can do whatever he feels like with that money. Ennia tells us that it is only 40% of our money is under his management via other companies that are not under any supervision or oversight by the Central Bank and that the 70% as was initially claimed, erroneously stating that our pension funds were virtually cleaned out in exchange for worthless land on Mullet Bay beach, is incorrect. But be it 77, 70 or 40 percent, it is still a lot of money and represents a big chunk of our pension funds. So we to have trust that the money will be there when the time comes to pay out our share of the pension money. That is a lot to ask. I trust many of you will agree with me.

Letter to the Editor