Thank-you again for this information.
Here’s a brief analysis of the Housing-loan situation based on the information (see diagram below) – with bolded items of concern:
- Underlying assets being mortgaged/ encumbered
6 housing estates generating monthly rentals, being physical assets belonging to Gibraltarians:
Or does the monarch technically (by legalities) own them, and all of Gibraltar, given the £13.8 million Stamp Duty – basically a transaction tax started by king William III to fund wars against Catholic France – but the issue here is the debt?
How many other Gibraltar assets are similarly encumbered and who are the ultimate holders of the debt (See 4.).
- Amount of debt raised
There’s obviously a connection between the restructured terms of the new tenancy agreement and the amount of the loan - a new valuation – longer dated tenancy agreements and escalation clauses for example would increase the “value”.
Gibraltar’s national debt for 2019 was £314 million, but this loan seems to be directly from investors.
So the loan wouldn’t show up in the countries debt figures? yet the monarch’s government (not the people’s) has basically indebted Gibraltar assets to unknown 3rd parties (See 4)?
- Incomes Generated from the deal
The £11 million might probably be corporate finance and other such fees for structuring the deal – the price for access to the “lovely lolly (money)” - not so lovely when the repayments are due!
The £13.8 million Stamp duty suggests that the properties were transferred/ sold into one holding entity to facilitate the deal – that’s a huge price to pay for unneeded debt.
Or did the monarch’s government promise to reduce other taxes by that amount as an offset?
- Finance Structure of the deal
The structure seems to be visibly 3 layers deep with another possible/ probable hidden layer on top.
1st. Gibraltar Residential Property Ltd - seems to own the properties.
2nd. Gibraltar Capital Assets Ltd - Raised the funds – in ”note” form - and collects the rent and makes disbursements.
3rd. Prudential Trustee Ltd - Manages the register of the debt/ “note” holders. The question to ask here is whether the owners are known or is that confidential.
4th. Hidden layer ?
But even if the contents of the register is publicly available, the notes could be endorsed by the owners and then whoever physically holds them would be the ultimate owners, and Prudential Trustees Ltd would not know about it and/ or the notes could be held in confidential trusts.
Motives:
To attract foreign funding without revealing that fact?
To establish control in the hands of certain parties when the loans become unpayable?
To deliberately raise finance that doesn’t show in the country’s national debt figures?
- Power
The note holders have the ultimate power until the loan is paid, and even then they might still have the power – will be in the fine print.
And the lockdowns will increase the risk of the loan not being paid as tenants default on their rents.
- Conclusions
It all seems to be jiving with those Protocols.
Looks pretty much like the monarch’s government is selling Gibraltarians out to some foreign entity/s, which prefer to remain hidden?
Might they know about the very significant Prophecies about Gibraltar, and this is just one of the ways they’re desperately striving to thwart them?
Picardo doesn’t seem to be innocent at all.
Anyone want to do more digging?
