Mark Mitchell’s writings seem to be striking a nerve, at last. After months of no response but silence, in the last few weeks DeepCapture has suddenly been receiving all manner of Nasty-Grams and intimidating phone calls from various people and organizations mentioned in Mark’s work. The similarity of the threats would almost make one think there was a plan. In any case, I will lay out four ground rules here.
1) DeepCapture remains committed to the highest journalist standards. Any error in our work should be pointed out immediately, and we will rectify it .
2) DeepCapture is better than mainstream media, whose intellectual self-confidence, rigor, and integrity I described in my 2008 piece, “Carol Remond Tells a Joke She Doesn’t Get (DowJones)”:
“Before publishing the following critique of Carol Remond’s recent article on Copper River, I contacted Carol for comment. Unlike Joe Nocera and Floyd Norris (both of the New York Times), who have at least had the integrity to defend their work, however haplessly, Carol refused any on-the-record comment on this subject. Thus she joins that tradition of journalistic worthies which includes Bethany McLean, Herb Greenberg, and Roddy Boyd, who refuse to defend their work. They can critique, but not engage, opine, but not defend: the sophomores of intellectual discourse.“
Because DeepCapture is better, we are happy to engage, and self-confident enough in our work that we practice “right of response” journalism: We will publish, unedited, any response (of any reasonable length) by miscreants named in our stories. If Specially Designated Global Terrorists have spokesmen, we’ll publish them.
3) All goombas should understand that the day anything untoward occurs is the day that The Collected Works of Mark Mitchell 2008-2011 appears in the in-boxes of 41.7 million people.
4) Finally, Mark has been acting entirely at my direction. So all nastiness should be directed at me, not him.
Very respectfully,
Patrick Byrne
Editor-in-Chief
DeepCapture.com
The FINRA Mafia speaks:
“What we don’t want to do is take the stance that somebody is not a bona fide market maker when they are really trying to get liquidity into the market,” FINRA’s DeMaio said. “That’s really what we’re looking to see: did you add liquidity?”
http://www.reuters.com/article/2011/09/16/us-financial-regulation-manipulation-idUSTRE78F50D20110916
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I LOVE IT!!
The people who have perpetrated these crimes have always counted on their ability to silence anyone who got in their way through threats and intimidation.They did not ever imagine anyone would stand up to them.My respect and admiration for the team here is greater than I have words to express.Patriotism lives.If only those who have the DUTY to protect the American people had one tenth the courage and integrity shown by those here exposing this mess.Then America and its people could be released from the domination of the people out to destroy our economy and the companies that could again make or nation the economic powerhouse it always has been.Long live capitalism and the free, fair market system!!!
Thank you,
and as always I will
bbhindyou.
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Thank you all for your efforts to try to fix a broken and corrupt system. Too bad our leaders in Washington are all captured. You would think our President would want these people given justice if he was really for the lower and middle class as he claims. At least you all care. By the way I keep telling everyone about this site and your stories. However, I’m going crazy waiting on your next installment. Hurry!!!
A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague.
And the Plague is the Banksters (FED,IRS), Walls Street,Captured Regulators, Bootlickin’ Journalists, and 99% of every friggin POLITICIAN in Washington. These treasonous bastards have stolen America for a pocket full of pence.
Thank you Patrick and Mark for shining a light on these miscreants.
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Wow nextplanetout, well said my friend!
Mr. Byrne & Mr. Mitchell my hat, once again, goes off to you and yours! My only hope is this wonderful piece of investigative journalism strikes the most important nerve; hopefully the only nerve left responsible for righting such a tragic, morally inferior tear in the fabric of America’s backbone.
I do however wonder who does one call when police are seemingly more corrupt than the ones committing the crimes?
It’s absolutely sickening to think this great nation has reached well beyond the tipping point into the black abyss due in part because those sworn to protect it not only failed miserably, but aided & abetted the rape with greasy palms.
To those responsible for such reprehensible, nefarious and egregious acts may you all freeze in the dark.
Long live the wonderful, colorful spirit of Darren Saunders! R.I.P. my friend. I’ll never forget! May your story prove to be a ferocious thorn in the eyes of those who brought your untimely death; your murder none the less!
The revolution will be blogged!
Diogenes can swing his lantern in broad daylight and not see an honest man:
“Officials Eye Madoff Role of a Lawyer
By GRETCHEN MORGENSON and LOUISE STORY
Published: September 16, 2011
Federal ethics officials are expected to recommend that the Justice Department begin a criminal investigation into actions taken by David M. Becker, the former general counsel of the Securities and Exchange Commission, who determined the agency’s proposal for compensating victims of the Bernard Madoff Ponzi scheme when he had a financial interest in the outcome.
A possible criminal referral from the Office of Government Ethics is expected to be part of a report issued next week by H. David Kotz, the inspector general of the S.E.C., according to two people briefed on the report’s contents.
Mr. Kotz began investigating Mr. Becker’s role in reversing an earlier agency compensation plan for Madoff victims after the Becker family’s $2 million Madoff stake was disclosed publicly last February.”
http://www.nytimes.com/2011/09/17/business/sec-official-in-madoff-case-may-draw-a-criminal-inquiry.html?hp
Hi Patrick.
Glad to see you’re still fighting the good fight.
Since no one understood the insanity (and corruption) of
a bureaucratic quagmire more than Joe Heller, I
thought I would give a shameless plug for my
friend Erica Heller’s new memoir about life with her Dad.
Yossarian Slept Here has received universal critical acclaim
and is a NY Times recommended book so I actually don’t feel all
that shameless in recommending it to you and the readers of
Deep Capture. It’s also the 50th Anniversary of Catch-22.
http://bit.ly/pT7DPX
Cheers,
Elaine
Elaine,
Yes, I read a great review of your friend’s book. I am also a great fan of Heller. I think about Catch-22 quite often. Especially Snowden’s Secret.
Patrick
Patrick,
Erica will be emailing you.
She tried a few times before
but your spam filter must have
been on high alert because it didn’t go through.
You will recognize her by her screen name.
Elaine
bipartisan goons.
Install a light in the freezer.
a sarcasm font.
Wallstreet protest begins:
This channel will feature live streams from global non violent revolution spreading across the globe, with the first broadcasts from Wall Street Occupation in NYC that will start on Saturday, September 17, 2011. The channel will also feature live stream from solidarity protests and events in Spain, Greece, France, Belgium, Iceland and other places around the gblobe
Live Video Reports and Content about the Global Revolution which started with the North African Spring, and is extending to every country around the World.
http://www.livestream.com/globalrevolution
http://www.nytimes.com/2011/09/17/business/sec-official-in-madoff-case-may-draw-a-criminal-inquiry.html?ref=todayspaper
My son and I have been avidly reading and sending out links for friends to read. To date few have clicked and none has read every chapter as we have. I wondered why your delay in posting the next one and feared there were threats or worse that made you hesitate to continue.
After the collapse of the Soviet Union and the “end” of the Cold War, I felt sure the next *WAR* against the United States was going to be on the economic front. And I was right. Of course, some of the corruption hails from way before. But the “miscreants” renewed their efforts in a spectacular way, making the most amazing alliances! I have yet to see how this can be countered when all our “protection” agencies have been *captured,* our Treasury emptied, and the middle class financially raped.
Do you feel dupped Patrick? Is Hatch now a enemy of the people?
Hatch turned to Mike Milken and said, “Thank God for the Milken Institute and what you’re doing. You’ve been a hero of mine for many years. I think if more people like you would get involved, we could bring a better spirit to America…and it’s time we do that.”
Michael Milkens tentacles are everywhere
http://www.michaelmilken.com/photos.taf?photo=250
U.S. Senator Orrin Hatch spoke at the Milken Institute in May 2010. A senior member of the Senate committees on Finance, the Judiciary and Health, Education, Labor and Pensions, Hatch gave a wide-ranging view of current public-policy debates in Washington. After his talk, Hatch turned to Mike Milken and said, “Thank God for the Milken Institute and what you’re doing. You’ve been a hero of mine for many years. I think if more people like you would get involved, we could bring a better spirit to America…and it’s time we do that.” Watch an excerpt from Senator Hatch’s remarks.
Here Patrick, maybe Mark can use this in Global Bust out chapter 22
Though BCCI had retained a high-powered legal team to look after its interests in Washington, two of its most active lobbyists were Senator Orrin Hatch (R-Utah) and his aide Michael Pillsbury. Both made important approaches to Washington officials as part of BCCI’s attempt to remove itself from further scrutiny following its plea of guilty to the charges in Tampa.
In late 1989 Pillsbury and prominent BCCI shareholder Mohammed Hammoud visited Swaleh Naqvi in London to offer Hatch’s help. This was an unusual team. Pillsbury was the former deputy under secretary for defense credited with initiating the effort to obtain Stinger missiles for the Afghan Mujahedin. Hammoud was a longtime acquaintance of Hatch who had purchased Clifford’s and Altman’s stock in the Naqvi-engineered deal that brought the two men millions in profits.
After the plea bargain was announced, Pillsbury was able to arrange a meeting between Hatch and BCCI lawyer Ray Banoun, during which, Banoun told The New York Times, Hatch called a Justice Department official to lobby on behalf of BCCI. The result of Hatch’s contact with BCCI’s lawyers was a speech drafted by Barcella, Wechsler, and Altman and delivered by Orrin Hatch on February 22, 1990, on the Senate floor. It was a ringing denunciation of Kerry and others who had criticized the Justice Department and the plea agreement.
Soon thereafter, Hatch received a warm letter from Swaleh Naqvi, who through Altman had simultaneously recruited Holland & Knight in Miami, who cited Hatch’s speech to pressure Florida banking authorities into allowing the bank to stay open. Two weeks after the speech Hatch called Naqvi again, this time to encourage him to make a $10 million loan to Hatch’s friend and business partner Monzer Hourani, a Lebanese immigrant from Houston, Texas….
http://www.kycbs.net/BCCI.htm
Come on, you evildoers. If we don`t get you Nately`s whore`s kid sister will.
Fund Withdrawals Top Lehman as $75B Pulled
Q
By Whitney Kisling – Sep 19, 2011 3:35 AM GMT-0400
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Sept. 16 (Bloomberg) — Michael Vogelzang, chief investment officer at Boston Advisors LLC, talks about the U.S. stock market’s performance and outlook. Vogelzang also discusses Europe’s sovereign debt crisis, emerging-market stocks and his investment strategy. He speaks with Lisa Murphy, Adam Johnson and Sheila Dharmarajan on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)
Investors have pulled more money from U.S. equity funds since the end of April than in the five months after the collapse of Lehman Brothers Holdings Inc., adding to the $2.1 trillion rout in American stocks.
http://www.bloomberg.com/news/2011-09-18/fund-withdrawals-top-lehman-as-individuals-pull-75-billion-from-stocks.html
Another SEC turncoat goes to the private sector to help the crooks/miscreants. If there were only a pattern.
http://www.streetinsider.com/Press+Releases/SEC+Deputy+Director+James+A.+Brigagliano+to+Join+Sidley+Austin+LLP%E2%80%99s+Washington+DC+Office/6795669.html
This should be outlawed.. but it won’t be.
Patch’s buddy, Brigagliano. LOL. It’ll change Sean. It has to. Watch some of Patrick’s videos. No way the populace will stand by this time. Maybe this was good, this economic collapse. It woke a lot of people up. How many of you were here in the beginning, vs. those of you who woke up when you lost your job, home, family?
This is going to get very, very nasty. Social upheaval is a very big possibility. But, I guess Mother Earth was formed and remade with violent actions, and maybe that is what it will take.
Lenofus, I have have no idea what happened to Dave Patch.. He was one of the original “Good guys” then he turned to the darkside. I don’t know if he got paid off or what but he definetely is not on the side of good anymore. Anywho I am hoping that you are right but it don’t look good right about know. The criminals and miscreants own and run the system and regulators, they provide no value added services or functions yet they call the shots and have all the power. Scary is’nt it? Deepcapture is shining a very bright light on these crooks and its officially hot in the kitchen. The roaches are scurrying. If a revolution is what it takes.. so be it!!! This crap has got to stop!!
The perfect CON…
Smoke and mirrors, sleight of hand, misdirection, now you see it, now you don’t, your shoes untied..wallet gone!
That’s right, David Ellsworth Patch Jr(watchdog-A) pulled it off with his accomplice…the SEC(watchdog-B).
The unsuspecting public, the Mom and Pop investors, rallying around’Investigate the SEC.com’ which will hold our regulators accountable. Making sure the companies we invest in are held to the highest ethical standards by watchdog-A watching watchdog-B. Perfect! What could go wrong?
Everything! Watchdog-A was having lunch with watchdog-B and plotting the schemes to lift Mom and Pops wallets. Watchdog-A digs up dirt on the unsuspecting company who is struggling to stay afloat, keep Americans employed and live to fight another day. Watchdog-A gives Watchdog-B the dirt, Watchdog-B starts a phony, chase-my-tail, investigation and the unsuspecting company dies an ugly death, employees lose their jobs, investors lose their life savings, and America loses prosperity.
Who Wins?
Let’s see…
1) The Hedge Fund that hired David Patch and David Patch
2) The Hedge Fund that that works in concert with the SEC and David Patch…Oh and guys like Brigagliano who just was rewarded with a brand new ‘HUGE’ pay raise with Sidley and Austin LLP, for looking the other way so that the Hedge Fund could prosper off the backs of the Mom and Pops who just lost their life savings.
America..The land of the brave and home of the duped.
Thanks Dave!
IMVHOAGFYDP
Patch on the dark side, go put your head back in the tiolet. Patch is One of a kind,, He washed my car and didnt charge me, thats the kind of person he is. My wheels didnt look clean but what the hell it was free.
I say send it to the 41.7 million in-boxes anyway. I’m tired of these narcissists getting away with their bullying and thievery. it’s time everyone know the truth.
Time to pay CMKM Diamonds for the Worlds biggest Fail to deliver, ever…
WOW, corruption and conflict of interest at the SEC.. Whoda thunk?
http://www.nytimes.com/2011/09/21/business/sec-refers-ex-counsels-actions-on-madoff-to-justice-dept.html?_r=2&pagewanted=1
Stevie Wonder could see the crimes being committed here. Why does’nt someone just put a stop to it. Where is the Justice in this country?
SEC target Curshen receives 16 months
2011-09-19 13:35 ET – Street Wire
Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
Also Street Wire (U-IBOT) Industrial Biotechnology Corp
by Mike Caswell
Former Vancouver promoter Jonathan Curshen, 47, has received 16 months in jail in New York on securities fraud and bribery charges. The sentence, handed down by Judge Leonard Sand at a hearing on Tuesday, Sept. 13, includes two years of probation and participation in a mental health program.
The sentence comes three years after the FBI arrested Mr. Curshen in a broker bribery sting. According to prosecutors, he paid a kickback to an undercover agent called “Charlie Moore” who was posing as a person with access to corrupt brokers. The agent agreed to have the brokers buy shares of Industrial Biotechnology Corp., a Washington State pink sheets listing that Mr. Curshen had been paid to promote. Mr. Curshen pleaded guilty to the charges in June, 2009.
Prosecutors sought 21 to 27 months for the promoter, saying the scheme was essentially a classic pump-and-dump. Mr. Curshen and others sought to artificially drive up Industrial Biotechnology’s price, cash out their stock and leave defrauded investors holding overvalued shares. Moreover, the scheme was sufficiently complex that it warranted severe punishment, the government contended.
Mr. Curshen, for his part, sought a much lower sentence. He said that the scheme was not a pump-and-dump of any sort. He had told the undercover agent that brokerage customers could sell the stock at any time. As far as he knew, he had no obligation to disclose the kickbacks, or commissions as he called them. By his calculations, his sentence should have been as low as six months.
Mr. Curshen also asked that the judge consider that he had already “suffered tremendously” for his actions. Among other things, since his arrest he had to live apart from his Costa Rican wife (who the FBI threatened to arrest if she came to the U.S.). He also became impoverished, as he lost his Costa Rican business, a stock promotion firm called Red Sea Management. In addition, he had to leave the securities industry and ended up working for a bakery. He asked that the judge consider placing him under house arrest instead of sending him to prison.
Judge Sand, in the end, determined that jail was appropriate for Mr. Curshen to deter both him and others from similar crimes. As the judge saw it, the 16-month sentence was a lenient one. “You have repeatedly, repeatedly, engaged in … illegal activity. You have testified falsely or furnished documents under oath which are contrary to fact,” the judge said at the sentencing hearing.
The judge was initially going to order Mr. Curshen immediately taken into custody to begin his sentence, but instead allowed him 10 days to say goodbye to his children and to wrap up his affairs. In doing so, he recognized that Mr. Curshen has a GPS tracking device attached to him as part of his bond conditions in another criminal case he faces in Miami. The judge also fined Mr. Curshen $10,000. (All figures are in U.S. dollars.)
Curshen’s charges
The charges against Mr. Curshen, as detailed in a Jan. 15, 2009, information sheet, were one count of conspiracy to commit securities fraud and commercial bribery. According to prosecutors, the scheme began in October, 2007, when the undercover FBI agent contacted Mr. Curshen and told him that he represented a group of stockbrokers at a firm called Jeffries & Company. The agent said he could have the brokers buy shares of Industrial Biotechnology using discretionary accounts. The buying would be timed to coincide with selling by Mr. Curshen.
Mr. Curshen, in turn, agreed to pay the brokers an undisclosed kickback of 25 per cent. The agent told Mr. Curshen that the brokers would hold the stock for a substantial length of time. The first of the buys took place on June 27, 2008, when the FBI used an undercover account to buy 20,000 shares of Industrial Biotechnology at 90 cents. That buy was followed by several more over one week, during which the FBI bought another 127,500 shares. After the buying, Mr. Curshen arranged for $19,000 to be wired to an undercover bank account, the information sheet stated.
He then spoke with the undercover agent in a recorded phone call on July 22, 2008, to arrange more buying. He and the agent agreed that the brokers would buy $2.5-million worth of Industrial Biotechnology shares in the following three months. Mr. Curshen’s discussions with the agent culminated with a Sept. 4, 2008, meeting in New York. During a recorded conversation, Mr. Curshen offered an even higher kickback of 30 per cent. At the conclusion of that meeting, the FBI arrested him.
Charges in Miami
Although Mr. Curshen has now resolved his New York case, he still faces a separate criminal action in Miami for a pump-and-dump scheme he ran from Costa Rica between 2003 and 2008. Prosecutors claim that he fraudulently promoted several stocks and funnelled $91.5-million in proceeds through an account at HSBC Bank in Vancouver. The only stock that prosecutors identified was CO2 Tech Ltd., a pink sheets listing that claimed to have a pollution control product in which Boeing had taken an interest. Mr. Curshen pleaded not guilty to those charges and awaits trial.
He also faces a parallel civil suit from the U.S. Securities and Exchange Commission. The defendants in that case include former Pacific International Securities Inc. broker David Ricci who, according to the SEC, helped Mr. Curshen carry out several manipulative trades in CO2 Tech. Mr. Curshen denies any wrongdoing in that case as well.
In the late 1980s, Mr. Curshen lived in Vancouver and ran a company called Hollywood Promotions which served junior stocks in Canada and the U.S. He sold the operation to his partner in 1989 and moved to Miami.
Other News
Statement from Chairman Schapiro on IG Investigation into Former General Counsel’s Participation in Madoff-Related Matters
IG Report
David M. Becker – Former General Counsel and Senior Policy Director of the SEC! It appears to Marv Eatinger that the SEC will always be a government agency that tends to look the other way when SEC employees or ex-employees play the game of circumvention!
God bless the OIG of the SEC H. David Kotz for his integrity!
—–Original Message—–
From: Marv Eatinger
To: schapirom ; dubcongress ; fraud ; oig
Sent: Tue, Sep 20, 2011 5:54 pm
Subject: THE AMERICAN DREAM!
http://www.deepcapture.com chapter 21 – Mark Mitchell
Marv Eatinger says:
September 20, 2011 at 3:00 pm
Other News
Statement from Chairman Schapiro on IG Investigation into Former General Counsel’s Participation in Madoff-Related Matters
IG Report
David M. Becker – Former General Counsel and Senior Policy Director of the SEC! It appears to Marv Eatinger that the SEC will always be a government agency that tends to look the other way when SEC employees or ex-employees play the game of circumvention!
God bless the OIG of the SEC – H. David Kotz for his integrity!
Reply
I truly believe that there are those immersed in illegal activity at the SEC and other governmental “alphabet agencies” who are no comfortable with the system having forced them into the positions they now find themselves in. Not only the governmental agencies, but the corporations comprising the mainstream media as well. They have come to a point where they know what they are doing, that it’s part of an illegal operation and they are faced with their career vs. their conscious.
I believe many are truly at heart red-blooded Americans. Sure, greed has had its affect on many, as it has those in other vocations. But, I believe there is a growing percentage who realize that they are cogs in a machine which has gotten totally out of control and not performing the service to humanity for which it was intended. Indeed, it has been sabotaged to perform the exact opposite and contribute to those from whom the original plan intended to protect us.
I believe we are at a critical crossroads at this point. The mainstream media is at the breaking point. They either have to start reporting on the very serious nature of the crimes outlined by Mark Mitchell, or they will make it clear to the public that there is absolutely no intention of being objective in their reporting.
If the wealthy miscreants label the issues as “taboo”, then those whose careers depend upon these employing miscreants, then how many will jeopardize their careers knowing that success rate of those who have bucked the system trying to do the right thing is practically zero. Just ask Gary Aguirre.
It’s just gotten way too big for the miscreants to believe for a second that some more red-blooded Americans are not going to come forward with information that they know they, as patriots, need to deliver. Perhaps I’m quixotic, but I truly believe that the issue has gone viral enough that we have crossed the Rubicon and there’s no way the status quo is going to be able to hold on to their version of “world order”.
Sorry for the rambling, but I do believe we are looking at some major revelations forthcoming. I was 100% convinced of this until I read Senator Orrin Hatch’s “whitewashing” praise of Michael Milken and the good he has done, even saying he considered him a “hero”. My God, if the Senators are still this entrenched in complicity or lunacy, maybe the struggle is going to be much harder than anyone could have imagined.
—–Original Message—–
From: Marv Eatinger
To: schapirom
Sent: Tue, Sep 20, 2011 6:25 pm
Subject: Fwd: THE AMERICAN DREAM!
Deepcapture.com my mistake, should be [email protected]. Probably my concentration was inhibited by Taylor Lake Country Red Wine consumption before diner. I apologize
Marv Eatinger
—–Original Message—–
From: Marv Eatinger
To: schapirom ; dubcongress ; fraud ; oig
Sent: Tue, Sep 20, 2011 5:54 pm
Subject: THE AMERICAN DREAM!
http://www.deepcapture.com chapter 21 – Mark Mitchell
Marv Eatinger says:
September 20, 2011 at 3:00 pm
Other News
Statement from Chairman Schapiro on IG Investigation into Former General Counsel’s Participation in Madoff-Related Matters
IG Report
David M. Becker – Former General Counsel and Senior Policy Director of the SEC! It appears to Marv Eatinger that the SEC will always be a government agency that tends to look the other way when SEC employees or ex-employees play the game of circumvention!
God bless the OIG of the SEC – H. David Kotz for his integrity!
Reply
Wow! Do take care.
In addition to the threat of distribution of Mark’s “Collected Works”, you might add a recommendation that the miscreants invest in some “Pitchfork-proof Britches”, should anything happen to anyone at DeepCapture.
I think you mean they should invest in MRAPs made by Force Protection! If anything happens to anyone at DeepCapture the entire Milken family is going to be removed from the gene pool.
Hi,
thanks for your brilliant work and your heroic perserverance!
I now know more about the US market than my home market Germany, because we don`t have any journalists covering the subject.
Has anyone ever tried to bring the subject to the attention of the Ron Paul team? Fiat Stocks should be easy to understand for them and I hope Mr Paul is as honest as I want to believe he is, so he may actually adress it in public.
Cheerio from Munich
Fabio
Fabio,
Good analogy. It is fractional reserve banking, without a reserve requirement.
Patrick
SEC Pushes Plan for Audit System
By SCOTT PATTERSON
U.S. regulators, responding to concerns about their ability to keep pace with fast-evolving markets, are pushing forward with a plan to build a multibillion-dollar computer system to monitor stock trading in real time despite criticism from traders who could foot the bill.
The Securities and Exchange Commission first proposed the system, called the consolidated audit trail, or CAT, more than a year ago. Now, it expects to issue a detailed blueprint for the project within the next few months.
The SEC won’t pay for the project. Instead, the agency will require stock exchanges, brokerage firms and the Financial Industry Regulatory Authority, or Finra, which oversees the brokerage industry, to cover the tab. The cost likely would be passed on to investors and traders, according to industry observers.
Critics in the brokerage industry said those costs could damage the market by imposing fees on high-volume traders, making their activities so expensive they might pull back from trading, removing liquidity from the market, or move overseas.
Many trading orders aren’t charged a fee. If the system is implemented, brokerages and Finra would decide what fees to charge.
“Liquidity will become thinner” on U.S. stock exchanges if the CAT results in high order fees, said Manoj Narang, founder of Tradeworx Inc., a Red Bank, N.J., firm that uses a high-frequency strategy.
The CAT would give regulators a window into a market driven by computer trading that occurs at speeds too fast for the human eye to track. Average daily trading volume has doubled since 2005 to 8.8 billion shares in 2011, according to Tabb Group, which tracks electronic trading.
As market speeds have exploded, so have concerns that some firms may hide manipulative activity inside the blur of trading.
After the Upgrade
The SEC hopes a reboot of its technical powers will help it keep pace with markets.
Now:
Regulators see only a slice of orders
Orders available a day or weeks later
Sudden “flash crash” events difficult to explain
Manipulative computer trades hard to catch
With new system:
All orders captured
Orders instantly available
Volatile moves quickly explained
SEC polices entire market in real time
Source: WSJ research
SEC Chairman Mary Schapiro told Congress in March that the SEC’s ability to collect trading data is “wholly inadequate to the task of overseeing the largest equity markets in the world.”
Now, the SEC often must rely on data from Finra, exchanges as well as firms such as mutual funds and bank-trading desks to track the market. Finra and the exchanges report irregular trading activity to the SEC, which is responsible for enforcing securities laws.
At present, the SEC practically is flying blind because it is unable to track a large amount of trading every day. With a consolidated audit trail, the SEC would be able to directly monitor the market and create systems to catch suspicious activity.
The CAT could let the SEC see all orders placed on all exchanges and identify which firm originated and placed a particular order.
Several financial industry participants have lined up against elements of the plan. While Finra supports many of the goals of a CAT, it said the SEC’s push for a real-time tracking system is misguided.
Finra Vice Chairman Stephen Luparello said the benefit of gathering information in real time doesn’t justify the cost, because there would be few instances in which the system would capture information the SEC could immediately act on.
“What benefit you get by getting that information at three o’clock versus getting it the next day is a little hard to put one’s finger on,” he said.
The idea of devising a CAT system has been considered by the SEC for years, but gained steam after the “flash crash” of May 6, 2010, when stocks plunged in a matter of minutes, only to rebound sharply seconds later. The SEC took months to explain the crash, causing investors to worry that the regulator had lost control of the market it oversees. The SEC said the audit trail, which likely also will track stock-option trading, will enable it to more quickly understand and explain such events. The CAT also could catch manipulative trading activity, the agency said.
Proponents of the CAT said it will give investors more confidence in the market, which could pull in more trading activity in the long run.
Critics, however, worry about the project’s price tag. The SEC originally estimated it at about $4 billion upfront and $2.1 billion annually, far exceeding the agency’s 2011 budget of $1.2 billion. The agency said the cost likely will be lower, but still could run into the billions of dollars.
One way the industry could reduce the cost is by upgrading its own systems, such as Finra’s order-audit trail system. But these and other expenses are expected to be passed on through trading fees.
Some observers said the fees could be assessed on a per-order basis, such as a fraction of a cent per order, because the CAT system would be designed to track order flow, according to market observers. That would impose particularly big costs on trading companies that juggle a large number of orders each day.
Some high-frequency trading firms, which researchers have said account for more than half of all trading in U.S. stocks, place tens of millions of orders every day, canceling the bulk of them, and make profits measured in pennies per trade. Order fees could make their activities far less profitable or even unprofitable. That ultimately could affect regular investors, critics of the project said, because high-speed trading is seen by some as the grease that makes the market’s wheels spin.
Patrick Healy of the Issuer Advisory Group, a firm that consults with companies about their relationships with exchanges, said the SEC could create a “monster that impacts liquidity in a negative way.”
Many industry observers, including Mr. Healy, agree the SEC needs to improve its ability to track computer-driven trading.
Write to Scott Patterson at [email protected]
Gawd forbid we should create difficulties for those trying to make dollars appear out of thin air and call it ‘liquidity’.
After 10 years of stealing everything that wasnt nailed down,, now they want to follow the sell tickets. This group is the modern day Keystone Cops for sure
I have been following the occupy wall street protest stories and am beginning to think it is a little too convenient that the story seems to be about a bunch of leaderless crazy people. If the people trying to discredit any wall street is to blame for the economic world collapse theory are not involved I would truly be surprised. This is just what they needed.I do not see any reference to real provable wall street wrong doing , such as Mr. Byrnes lawsuit,or the puts that created a large windfall for those who did the take downs in 2008.The amount of ‘bail out money’ this cost the American people much less the losses suffered by those who were invested in those companies should be the focus.The protest should also focus on why no charges have ever been forthcoming in the obvious manipulation that caused the collapse of those companies.We as a country need to have the real issues that caused this mess to be addressed in a real protest against wall street.Since Mr. Byrnes date in court is fast approaching and his evidence is a true exposure of the process these miscreants use they have shut up about ‘wacky patty’ and have found a new way to make the issue look like only the loony believe.If this tactic works and causes the very real case of Mr. Byrnes to be dismissed by the majority of the security holding people of the worlds ‘financial’ system as ,Oh more crazy stuff, all I can say is enjoy your economic slavery.
Mainstream media is deathly afraid to carry the story.
http://www.livestream.com/globalrevolution
Brokers Face Fraud Suit Over Bogus $332M Oil Field Deal
By Sindhu Sundar
Law360, New York (September 20, 2011, 10:28 PM ET) — Broker-dealer World Trade Financial Corp. and clearing broker Pension Financial Services were sued Tuesday for allegedly enabling a U.S. investment firm to sell $332 million in worthless unregistered shares in exchange for an oil and gas field in Kazakhstan.
In its complaint filed in Texas federal court, Kazakhstani oil and gas company Kazenercom Too claimed World Trade and Pension had traded with Nevada-based Turan Petroleum Inc. to help it create a false secondary market for its shares. The trades allegedly allowed Turan to offer its…
Manipulation; the markets are baiting you with false bids!:
“Computers are replacing humans as market makers in U.S. equities, and one way they try to entice investors is by sending quotes to exchanges and rapidly updating them. Ashok Krishnan, head of execution services for Europe, Middle East and Africa at Bank of America Corp., said at a Bloomberg Link event in London on May 19 that some firms send more than 500 orders for every execution they receive.”
http://www.bloomberg.com/news/2011-09-21/sec-considering-curbs-after-surge-in-quotes-in-u-s-stock-market.html
Please Mary Schapiro, don’t hurt the LIQUIDITY!!!!!
“…The SEC’s new rule is designed to target two potential conflicts of interest:
For instance, a firm might package an asset-backed security, sell that security to an investor, and then subsequently short the security to potentially profit as the investor incurs a loss.
Or a firm might allow a third party to help assemble an asset-backed security in a way that creates an opportunity for the third party to short the security and reap a profit.
The rule would ban any party who participates in the creation of a security from betting against the security. The ban would remain in effect for one year, and would also apply to the affiliates or subsidiaries of the participants.”
http://news.opb.org/article/sec_proposes_ban_on_magnetar-like_deals/
Jimbo
From your post I see they are about to ban another thing, for a year anyway,that they earlier claimed did not exist.It will probably work out about as well as the ban on naked short selling did.I think we may need to go to Wall Street.Anyone else have a lot of information they would like to bring to the Street and the PEOPLE on it?
I’LL TAKE ANY BAN ON NAKED SHORTING. IT WORKS!
The only ban on naked short selling EVER put in place was temporary ,only protected the big brokerages that had engaged in it themselves, did not truly stop naked short selling against the targeted companies [ there was no way to stop ex-clearing naked shorting] and when the ban was removed the companies being attacked went down in flames.This cost YOU and I large sums of money even if we did not own a single share in the stock market. WE the PEOPLE will PAY OUR MONEY into the system for the rest of our lives and our children’s as well to cover these losses. Where do you think the ‘ bailout’ money came from? It was not the wall street elite who paid the bailout money they received it.
Mr. Byrne,
I have sent a report to you that I thought you might like.I asked for a confirmation of receipt.I hope you got the E-Mail apparently SOME E-Mails are not being delivered by Yahoo. HHMMMM I hope mine wasn’t one of them!
Respectfully yours,
bbhindyou
Is the SEC really serious $57,000.00 What about Art Sambergs’ and John Macks 19million in profits from Pequot Financial because of insidertrading that they refused to go after even after Gary Aguirre and Arlen Spector, Chuck Grassley and called these miscreants out? So much for going after the big fish. I wonder how many more Madoffs and Stanfords are out there with our eagle eye regulators on the prowl. Going after the small fish so that they can get future jobs with the big whales.
http://www.bloomberg.com/news/2011-09-21/former-goldman-sachs-etf-trader-accused-of-insider-trading.html
sWALLOWING GOLDFISH SO THEY DON’T END UP GOING DOWN LASHED TO A WHALE.
Mark & Patrick are brave men. Wall Street and Washington are rotten to the core. We all are supporting you two.
One area to look at is the puppet masters that are pulling the strings of these miscreants. We say Michael Milkin and Stevie Cohen are the generals , but they are really just soldiers executing a strategy for the “generals” that are at the top
It would be great at some point to take the website to the next level, and research the cabal that controls the miscreants
Woops.
They tried to organize a protest against Wallstreet and Yahoo “accidentally” blocked it.
At least they admit the censorship.
http://redactednews.blogspot.com/2011/09/yahoo-admits-to-blocking-wall-street.html
Update: Yahoo’s customer care Twitter account acknowledges blocking the emails, but says it was an unintentional error:
“We apologize 4 blocking ‘occupywallst.org’ It was not intentional & caught by our spam filters. It is resolved, but may be a residual delay.”
Yahoo’s main Twitter account adds:
“Thanks to @YahooMail users & @ThinkProgress for catching problem w/ #Occupywallst.org mail. Prob is fixed, but there may be residual delays.”
1 down, how many more to go?
Ex-Trader Sentenced to 10 Years in Insider-Trading Case
Article
Comments
more in Law »
BY CHAD BRAY
NEW YORK—A former hedge-fund trader was sentenced to 10 years in prison Wednesday after he was convicted earlier this year along with two others in a closely watched insider-trading case.
Federal prosecutors in Manhattan had alleged that Zvi Goffer, a former Galleon Group trader, was the “ringleader” of a scheme to trade ahead of corporate mergers based on confidential information, including information obtained from a law firm working on the deals.
Mr. Goffer, 34 years old, was convicted of 14 counts …
Love the name: Zvi.
So indicative.
anyone running the protest in NYC who is their leader? They have to be told to move it to 55 Water St in front of the DTC get them to focus on that front.. they are all over the place
Amen to that DTC suggestion! That is ground zero for these crimes.
http://readersupportednews.org/news-section2/318-66/7468-occupy-wall-street-take-the-bull-by-the-horns
Someone needs to explain share counterfeiting to them, so they can find out why they are mad.
Sure, It’s really working!!!!
FTC Chairman Thinks Dodd-Frank Is ‘Working’
by Ricardo Kaulessar , Reporter
Published:September 20, 2011
What is it like for Gary Gensler to monitor and rein in derivatives post-2008 financial crisis?
Gensler, chairman of the U.S. Commodity Futures Trading Commission, gave his insight into that ongoing process as well as other matters last Thursday at the Bloomberg Markets 50 Summit in New York.
The commission is an independent government agency that regulates futures and option markets, overseeing currently $5 trillion in trades. The agency’s oversight also encompasses hedge funds.
Much of the commission’s work is policing derivatives, which are contracts between two parties that specify conditions for payoffs to be made between the parties. The lack of derivatives regulation is seen as one of the causes of the 2008 crisis.
http://www.hedgefund.net/publicnews/default.aspx?story=12893
Becker – “He did everything he was supposed to do.” Was his ethical obligation included in the above statement?
9-22-2011 “Potential Conflicts of Interest at the SEC: The Becker Case”
Hearing Documents
Hearing Video
Chairman McHenry Hearing Preview Statement
In May 2010, then-Ranking Member Issa released a report that explained how the SEC’s unworkable structure, lawyer-driven culture, and technological backwardness helped to cause its high-profile failures, such as the Madoff scandal. This joint committee hearing continues ongoing efforts of Congressional oversight.
The matter at hand today revolves around former NASDAQ chairman Bernard Madoff’s elaborate Ponzi scheme. Mr. Madoff admitted guilt nearly a decade after questions had been raised to regulators about the Madoff firm, which operated a Ponzi scheme with over $60 billion of fraud and thousands of clients. It was clear the SEC’s reputation had taken a blow.
In 2009, Mary Schapiro was named Chairman of the SEC and stated her commitment to rebuild the SEC’s reputation. Soon after her arrival she welcomed back David Becker to the SEC as a general counsel.
Upon arriving at the SEC in early 2009, Mr. Becker informed Chairman Schapiro about his status as a net winner from the Madoff fraud case. Despite learning this, Chairman Schapiro never asked Mr. Becker to recuse himself from Madoff-related matters or to disclose his financial interest.
Since then, a series of missteps by high ranking officials at the SEC – ranging from Mr. Becker’s communication with the SEC ethics counsel to his personal participation in matters of which he had a personal financial interest – have put into question the reputation of the management and decision-making of the SEC. We also know, for example, that the five SEC Commissioners, advised by Becker, voted on an issue that affected Becker’s financial interest – but only Chairman Schapiro knew about that interest. Just yesterday, the SEC Inspector General referred the results of its investigation to the Public Integrity Section of the Criminal Division of the Department of Justice.
The Criminal Conflict of Interest Statute is clear. It states that one is prohibited by criminal statute from participating personally or substantially in any particular matter in which he has a personal interest – no matter if such participation or outcome benefits or harms his personal stake. This clearly defined statute is why former Commissioner Cox required all SEC’s officials to recuse themselves from Madoff-related matters if they had even donated to a charity that was connected to the firm. No exceptions allowed.
Not only was Mr. Becker’s professional involvement unfair to the victims of Mr. Madoff, but it was also unfair to American investors, issuers, and capital markets that depend on the perception that their regulators are absolutely impartial.
I look forward to hearing from the SEC about this matter, whether proper and thorough protocols was exercised, and what recommendations from the IG’s report does the Commission plan to implement to ensure this never happens again.
Witnesses
Panel I
The Honorable Mary Schapiro
Chairman
Securities and Exchange Commission
Mr. H. David Kotz
Inspector General
Securities and Exchange Commission
—–Original Message—–
From: Marv Eatinger
To: dubcongress ; fraud ; schapirom
Sent: Thu, Sep 22, 2011 6:00 pm
Subject: THE COMPETENCE & CREDIBILITY & INTEGRITY OF THE REGULATORY SYSTEM FOR PUBLICLY TRADED EQUITIES ON UNITED STATES MARKETS???
Big Sky:
The United States credibility is at stake like never before! What is wrong with a priority to investigate and prosecute WHITE COLLAR CORPORATE CRIME in a manner that is effective, efficient and predicated to come to a conclusion before all of the perpetraters are dead and gone!!!
Marv Eatinger
CC: Senate Banking Committee
http://www.deepcapture.com chapter 21 – Mark Mitchell
Marv Eatinger says:
September 22, 2011 at 2:51 pm
Becker – “He did everything he was supposed to do.” Was his ethical obligation included in the above statement?
9-22-2011 “Potential Conflicts of Interest at the SEC: The Becker Case”
Hearing Documents
Hearing Video
Chairman McHenry Hearing Preview Statement
In May 2010, then-Ranking Member Issa released a report that explained how the SEC’s unworkable structure, lawyer-driven culture, and technological backwardness helped to cause its high-profile failures, such as the Madoff scandal. This joint committee hearing continues ongoing efforts of Congressional oversight.
The matter at hand today revolves around former NASDAQ chairman Bernard Madoff’s elaborate Ponzi scheme. Mr. Madoff admitted guilt nearly a decade after questions had been raised to regulators about the Madoff firm, which operated a Ponzi scheme with over $60 billion of fraud and thousands of clients. It was clear the SEC’s reputation had taken a blow.
In 2009, Mary Schapiro was named Chairman of the SEC and stated her commitment to rebuild the SEC’s reputation. Soon after her arrival she welcomed back David Becker to the SEC as a general counsel.
Upon arriving at the SEC in early 2009, Mr. Becker informed Chairman Schapiro about his status as a net winner from the Madoff fraud case. Despite learning this, Chairman Schapiro never asked Mr. Becker to recuse himself from Madoff-related matters or to disclose his financial interest.
Since then, a series of missteps by high ranking officials at the SEC – ranging from Mr. Becker’s communication with the SEC ethics counsel to his personal participation in matters of which he had a personal financial interest – have put into question the reputation of the management and decision-making of the SEC. We also know, for example, that the five SEC Commissioners, advised by Becker, voted on an issue that affected Becker’s financial interest – but only Chairman Schapiro knew about that interest. Just yesterday, the SEC Inspector General referred the results of its investigation to the Public Integrity Section of the Criminal Division of the Department of Justice.
The Criminal Conflict of Interest Statute is clear. It states that one is prohibited by criminal statute from participating personally or substantially in any particular matter in which he has a personal interest – no matter if such participation or outcome benefits or harms his personal stake. This clearly defined statute is why former Commissioner Cox required all SEC’s officials to recuse themselves from Madoff-related matters if they had even donated to a charity that was connected to the firm. No exceptions allowed.
Not only was Mr. Becker’s professional involvement unfair to the victims of Mr. Madoff, but it was also unfair to American investors, issuers, and capital markets that depend on the perception that their regulators are absolutely impartial.
I look forward to hearing from the SEC about this matter, whether proper and thorough protocols was exercised, and what recommendations from the IG’s report does the Commission plan to implement to ensure this never happens again.
Witnesses
Panel I
The Honorable Mary Schapiro
Chairman
Securities and Exchange Commission
Mr. H. David Kotz
Inspector General
Securities and Exchange Commission
Reply
Marc,
When is the next chapter going to come out? Been way too long.
Please save the threatening emails, trace the IPs, and publish them. File a report.
Ignore the media and the media suck-ups. The American people are 100 percent behind you.
@Fabio Bossi
Some of us have changed our minds about Dr. Paul’s campaign, after the hiring of Bruce Fein and the thundering silence about it.
It was the final straw for me, after two years of watching LRC and its circle carry water for Milken, Boesky and Rich, defend Goldman Sachs and BP, pump the strictly-for-laughs J. Altucher, articulate the moral case for blackmail and bribery, defend the theft of IP and criminal assaults on privacy, confuse legitimate speculation with criminal manipulation, and publish every half-baked analysis of the financial crisis while ignoring the riveting and well-researched material at Deep Capture.
I have come to the sad conclusion that despite their sterling anti-war and anti-police state commentaries, they speak with forked tongues.
Publishing stuff you know won’t go anywhere, falling silent on crucial issues, and selling your soul for popularity with every shady denizen of the financial community is not my idea of truth-telling.
This is not my opinion alone. In fact, I’m late seeing the light on it. Mea culpa.
RP seems to be an honest man personally, but he didn’t stop anything while he was in government, even though he knew what was going on. He has ridiculed 9-11 truth, while riding to popularity on the backs of the 9-11 movement, said nothing about Goldman Sachs, and lately has been defending non-intervention as “good for Israel”. If you think government is such an absolute evil, why spend so much time politicking in the first place?
Seems to me that “End the Fed” will not end the machinations of the power-elire. The locus of power will just shift elsewhere.
To state it plainly, I have come to believe that RP, honest as he might be personally, will not stand in the way of the power elites.
Ron Paul puts his energies into things that matter. One of the things that is totally missing from Deep Capture is any mention of “gold”, other than Goldman Sachs. This is so basic that it defies understanding that so many miss this, which includes the authors on Deep Capture who claim ignorance about the impact of funny money on populations everywhere. Funny money provides cover for crooks, including politicians, regulators and, yes, market manipulators.
If you doubt these claims just put “gold” in the search box above and throughout the Deep Capture website and see if you get any results. If you, or any who read this, do not understand the import of this please relieve yourselves of your ignorance. That includes the authors of Deep Capture, whom I’ll take at their word that this is beyond their area of knowledge.
To get you (and Deep Capture) started on your road to understanding please visit the following link:
http://www.gata.org/node/8052
Ron Paul is a false flag. If we pursue his wish of a gold standard then we will lose our reserve currency status. A fiat currency is ok as long as the government works to protect it’s value, which our current govt. is not doing. Our current govt. wants to continue to expand the money supply and get America off oil, which if both are accomplished will eventually lead to the destruction of the U.S. dollar and will give the NWO the arguement for a one world currency.
Majority of the oil in the world is priced in dollars, which creates a huge demand for dollars. If you signifincantly reduce the need for oil or re-price it in another currency then you significnatly drop the demand for dollars
Your statement: “…A fiat currency is ok…”
The answer is that a fiat currency is NOT ok”
You sound like a sounding board for the military/industrial complex, which relies heavily on fiat currency to extend our military into issues unrelated to real national security threats.
Further, your proscriptions imply a continuing bailout scenario for the TooBigToFail in the financial sector for their casino like activities.
Honest money attracts honest business practices. Conversely fiat money encourages fraud in the world financial community and governments. There really is nothing wrong with a “world currency” that you are attempting to demonize, which this nation had in its infancy after the Articles of Confederation. The “world currency” was gold, silver and copper (for smaller transactions). The governments merely certified coinage content by their mintage operations. Modern day accommodations for movement of goods and services could be done with innovative ways to settle accounts electronically based on a change of ownership in assets in bullion accounts, or those backed by the storage the real assets of gold/silver/copper coinage, which is really what you are referring to as a “world currencies”.
Adam Smith, in “Wealth of Nations”, described in great detail how the original cultures of the Americas were brought of their primitive states through the introduction of gold and silver coinage. Further, until recently there was widespread usage of letters of credit (LOC), as distinct from bills of credit, which were outlawed by the US Constitution as an early form of fiat money. LOCs allow transactions, particularly those of an international nature, to take place without the actual physical movement of hard assets between continents, but merely a change of ownership of the assets where the LOC is presented for payment. This could be more widely used using modern methods making the arguments for fiat currency a moot point, except for the desire of the current powerz to continue a fraud to which they are the chief beneficiaries.
As far as getting the country off of oil, you seem to be implying that you are a supporter of the “green” movement. How’s that working for the taxpayer with the current revelations of the Solyndra bankruptcy?
Watch the GOP carefully:
DNC Chair: Social Security Plans Of GOP Candidates Look Dicey After Stock Market Plunge
WASHINGTON — The massive drop in the stock market Thursday afternoon provides an ominous, albeit politically inviting, backdrop for the Republican debate later in the night. A GOP field that has bashed the president for his economic stewardship has, as its freshest data point, a 390-point loss in the Dow Jones Industrial Average.
But the market volatility can cut both ways. In an interview with The Huffington Post just hours before the GOP candidates took center stage, Rep. Debbie Wasserman Schultz, chairwoman of the Democratic National Committee, made the argument that the stock market fall exposed the political hazards of the Republican presidential field’s broad call to privatize Social Security.
http://www.huffingtonpost.com/2011/09/22/debbie-wasserman-schultz-social-security-stock-market_n_976672.html
—–Original Message—–
From: Marv Eatinger
To: oig
Sent: Fri, Sep 23, 2011 6:49 pm
Subject: Fwd: DALECO RESOURCES CORP – ON GOING WHITE COLLAR PUBLIC CORPORATION FRAUD!
—–Original Message—–
From: Marv Eatinger
To: dubcongress ; fraud ; cfletters ; schapirom
Sent: Fri, Sep 23, 2011 6:45 pm
Subject: DALECO RESOURCES CORP – ON GOING WHITE COLLAR PUBLIC CORPORATION FRAUD!
Big Sky:
How numb has the federal government and the political interests become to the fair and balanced investigation and prosecution of COMPLEX white collar public corporate crime as associated with connected lawyers in Washington?
Marv Eatinger
CC: Senate Banking Committee
—– Original Message —–
From: marv eatinger
To: [email protected]
Sent: Tuesday, October 17, 2000 9:34 PM
Subject: DALECO RESOURCES CORPORATION (otc-dlov)
I received a letter dated October 5, 1998, from Jon D. Jensvold (COUNSEL TO THE INSPECTOR GENERAL OF THE SEC) in answer to my letter dated September 11, 1998. He stated that based upon his review of my letter dated September 11, 1998, (received on September 21, 1998) that he could discern no indication of misconduct on the part of any employees of the Securities and Exchange Commission while employed at the Commission. This was all in regards to a public company named Daleco Resources Corporation which was listed on the NASDAQ stock exchange. He further stated that the documents indicate, however, that a former Commission employee, Mario V. Mirabelli, who left the Commission in 1973, may have engaged in misconduct while employed in the private sector from the mid-1980′s to 1991.
I have had a conversation with a former branch manager in the Division of Corporate Finance. The consensus of opinion seems to be that inside (SEC employee) help was necessary in order to guarantee that Daleco Resources Corporation filing sequence with the SEC would not be derailed.
I am pursuing this possibility. If I come up with concrete proof of SEC employee participation in this fraud I will relay this information the SEC.
Sincerely,
Marv Eatinger
http://WWW.DEEPCAPTURE.COM PARTICIPANTS:
Here it is 13 years later after a letter from the counsel to the Inspector General of the SEC states “however, that a former Commission employee, Mario V. Mirabelli, who left the commission in 1973, may have engaged in misconduct while employed in the private sector from the mid-1980’s to 1991.”, and no prosecution of Mario V. Mirabelli, his former law firm at the time Shea & Gould, Coopers & Lybrand accounting firm and associated entities that all made Daleco Resources Corp on going major tax fraud and securities fraud as a public corporation POSSIBLE! Mario V. Mirabelli learned his “proprietary” knowledge of how the SEC handles public corporation filings to different branches of the Division of Corporation Finance and moved from the SEC to the private sector! Daleco Resources Corp SEC filings ended up “closed out” in four ( branch 1, branch 3, branch 5, and branch 4 and back to branch 5 ) SEC Division of Corporation Finance Branches instead of a logical one Division of Corporation Finance Home Branch #4!
Does white collar public company fraud and the lack of regulatory scrutiny get any better than this?
Marv Eatinger
Dog burn it Marv. Just when I thought you were on the right track and not Daleco crap again. Let it go man we’ve seen it on ever report that you’ve posted posted a comment on. We get it.STOP IT!! Thank you!! Now could we please get back on the topic of Marks’ report of miscreants stealing our money, and their identities.
Thanks for your comment Sean. Quite frankly I have always thought that the thrust of this blog was the ability of miscreants and their associated “deepcaptured” regulatory connections (including SEC lawyers that move to the private sector)to commit fraud on public investors. You might get it but the federal government might want to look the way. Deepcapture has made me believe that the only way to get your point across to the federal government is by repetition of the known facts. So for the last fifteen years I have practiced repetition!
You can say that again!
@Anonymous
I know GATA’s work well, and I believe I even sent them some of my research.
GATA operates within limits of intelligence parameters, I’m sure, as does Deep Capture. I don’t need to limit myself to those parameters and don’t. But, neither DC nor GATA is the face of world-wide libertarianism nor claims to be.
However, the hopes of the 9-11 truth movement and all its affiliated researchers have been projected onto RP. That is a different mandate and the requirements are higher.
Re gold. DC is focused on one specific and very complex set of circumstances in a particular time period. It’s not an economics blog. Even so, DC HAS referenced the manipulation of silver, the DTCC, and other matters closely connected to bullion market manipulation. And NSS itself is another version of counterfeiting.
Furthermore, gold backs currency, yes, but if you tout it without discretion you too will end up promoting the ends of the power elite, which would have you sell at the top. The latest marketing push behind gold (post 2009) has seemingly come from one wing of the power-elite.
Furthermore, Altucher, a buddy of Cramer and Loeb, and an admirer of Icahn, says not a word about money-printing or Bernanke, and boosts the stock market (usually just after tops).
He’s no gold-bug either, yet LRC promotes him relentlessly. What sense does that make? It is as though an “antiwar” newsletter carried a column by Gandhi followed by one by Pol Pot. What kind of antiwar message would that be?
Byrne has endorsed RP more than once. His work jells with RP’s concerns and would be invaluable to anyone in power who wanted to make informed decisions about cross-border financial flows, a central concern of all nations.
Never once have I seen him linked or even mentioned.
Spin it all you want.
DC is one of the most important blogs about the financial crisis.
With a book on the subject, I believe I’m well qualified to judge when something passes the smell test in these matters.
The short answer is NO.
First of all, it was fortunate that the page was read far enough downward to discover your response, since it was misplaced by not replying to “Anonymous” on September 23, 2011 at 2:37 pm.
Now for your statement:
“GATA operates within limits of intelligence parameters; I’m sure, as does Deep Capture. I don’t need to limit myself to those parameters and don’t. But, neither DC nor GATA is the face of world-wide libertarianism nor claims to be.”
What we are really talking about here is an attack on our prosperity by a bunch of criminals who have understood that the whole worldwide central banking system is a huge fraud. Apparently many either fear to come forward and say this is really the crux of the issue, or are compromised as beneficial recipients of universal fiat money issuance. Any who try to cover up that sort of fraud by diversions into the symptoms of that fraud raise many questions as to their sincerity.
Instead they prefer to fund ever growing governmental bureaucracies dedicated to rooting out criminal activity. This gives the appearance of concern, while allowing the seemingly legal activity of theft through the “inflation tax”. The “inflation tax” steals from all who depend on a paycheck, and are unconnected to government service or government issued contracts where there is no recognition of “money” that is slowly losing its value. Spread across millions of people that is MASSIVE fraud whose ill-gotten gains end up in the pockets of the power elite, mainly within the financial sector.
In the past companies have benefitted by not having to pass on the value deterioration of compensation to those they employ; but now the robbery has so destroyed prosperity that the biggest threat is their inability to remain profitable in an economy that is tanking. So they actually come out on the losing end from static depressed wages arising from fiat counterfeit currencies that are losing their value.
Failure to deal with the basics, so eloquently written into our US Constitution, before the debauchers put their hands to it in the Progressive Era, is what is needed. Dealing with the basics will far outweigh nibbling at the edges of the more visible, but ancillary issues.
And one other thing, per your statement: “It’s not an economics blog.” That is a preposterous statement. Are you saying that the crash in the markets attributed by DC to Penson Financial, and their partners in crime was unconnected to “economics”?
So while you may claim to not be limiting yourself, and claim that DC doesn’t either, it is quite obvious that oversights on basic issues reveal otherwise. As for the rest of the rah-rah crowd that inhabits this blog, they need to wake up and smell the coffee or be regarded with some suspicion as beneficial recipients of the fiat money status quo, or maybe just plain naïve, although naïveté is becoming an endangered mindset.
Well, well just when you thought the SEC could not do any more damage to their credibility…..
http://www.huffingtonpost.com/2011/09/24/henry-hu-sec-expenses_n_979028.html
I think the next thing they find at the SEC might be Jimmy Hoffa’s body. LOL!! By the way this was al done with the blessing of Mary Schapiro..is she possible Worst than Cox? Could be.
Must see BAC http://www.youtube.com/watch?v=eWYW0H7-c_w
GREEK DEFAULT
More from Sky News correspondent Ed Conway (via Twitter):
G20 now preparing itself for Greek default after October – Sky
sources. Will be on Sky News imminently with more
G20 sources: all efforts behind the scenes (by G20 members) are now
going into recapitalising banks, preparing economies for default.
G20 sources: default not expected until after Cannes G20 early
November. Emergency funding should still keep Greece afloat thru
October
G20 sources: No suggestion Greek default need imply country leaving
the euro
G20 sources: @ Washington summit marked difference in attitude.
Confident euro members edging closer to recapitalising banks,
expanding EFSF
@Anonymous:
QUOTE FROM LILA:
“GATA operates within limits of intelligence parameters; I’m sure, as does Deep Capture. I don’t need to limit myself to those parameters and don’t. But, neither DC nor GATA is the face of world-wide libertarianism nor claims to be.”
ANONYMOUS
What we are really talking about here is an attack on our prosperity by a bunch of criminals who have understood that the whole worldwide central banking system is a huge fraud. Apparently many either fear to come forward and say this is really the crux of the issue, or are compromised as beneficial recipients of universal fiat money issuance.
LILA:
WHO’S QUESTIONING THAT? I’VE BEEN RESEARCHING THAT FRAUD FOR YEARS – CENTRAL BANK FRAUD. I’VE WRITTEN PLENTY ON IT. WHO ARE YOU AND WHAT HAVE YOU WRITTEN?
YOU DON’T SAY.
ANONYMOUS:
Any who try to cover up that sort of fraud by diversions into the symptoms of that fraud raise many questions as to their sincerity.
LILA:
Pure nonsense.
1. Who is covering up, sir? I have pages and pages of names on my site. So how is that covering up? I have analyzed the fraud in terms of Zionism, in terms of structural changes, in terms of finance and economics. I have gone into the symptoms and the consequences. What kind of doctor would treat one symptom while ignoring the deeper cause? Why is exposing one cause a diversion from exposing another? EXPOSE BOTH, MODUS OPERANDI, NAMES, DEEP STRUCTURE, FALSE FLAGS, NETWORKS – ALL
ANONYMOUS
2.
Instead they prefer to fund ever growing governmental bureaucracies dedicated to rooting out criminal activity.
LILA:
Who is supporting EVER GROWING bureaucracy? Not me. Go and read my articles. I have been unswirvingly in support of reducing bureaucracies. Don’t assume I belong to one of your FALSE DICHOTOMIES of liberals versus conservatives or Repubs versus Dems. I don’t. I have debunked Walter Lippman (progressive era) as well as others who buy into that paradigm from “progressive” motives.
ANONYMOUS:
This gives the appearance of concern, while allowing the seemingly legal activity of theft through the “inflation tax”. The “inflation tax” steals from all who depend on a paycheck, and are unconnected to government service or government issued contracts where there is no recognition of “money” that is slowly losing its value. Spread across millions of people that is MASSIVE fraud whose ill-gotten gains end up in the pockets of the power elite, mainly within the financial sector.
LILA: Who is this rant directed at? Me? I have written scores of pieces about inflation and am dead against it. Try Nightmare on Wall Street, or Nationalization in a Time of Monopoly, the whole of Mobs, Messiahs and Markets. It is ALL directed against central bank inflation. RED HERRING.
ANONYMOUS:
In the past companies have benefitted by not having to pass on the value deterioration of compensation to those they employ; but now the robbery has so destroyed prosperity that the biggest threat is their inability to remain profitable in an economy that is tanking. So they actually come out on the losing end from static depressed wages arising from fiat counterfeit currencies that are losing their value.
LILA: Who is arguing with any of this. Not me.
ANONYMOUS:
Failure to deal with the basics, so eloquently written into our US Constitution, before the debauchers put their hands to it in the Progressive Era, is what is needed. Dealing with the basics will far outweigh nibbling at the edges of the more visible, but ancillary issues.
LILA: The blogosphere is OVERFLOWING with stuff against inflation. Everyone understands it. Even the guys on the opposite side, I’m sure. The reason they pretend not to get it is because their jobs in government and media depend on their not seeing the truth. So stop preaching to the choir. The population doesn’t care because the population doesn’t save. So it cares two hoots about robbing savers and pensioners or people with cash. It just wants more hand outs. That is why besides the broad arguments, you NEED THE SPECIFIC DETAILS ABOUT WHO PROFITS AND WHY. Besides,it is the truth.
ANONYMOUS:
And one other thing, per your statement: “It’s not an economics blog.” That is a preposterous statement.
LILA: Yes. Look at it and read – something you seem unable to do. It is an INVESTIGATIVE SITE ABOUT THE FINANCIAL MARKETS RELATING TO THEIR MANIPULATION through the media. It is not a broad forum about economics like LRC or Mises. DC is about regulatory and media capture.
ANONYMOUS:
Are you saying that the crash in the markets attributed by DC to Penson Financial, and their partners in crime was unconnected to “economics”?
LILA: You won’t read and you can’t argue.
Where did I say the crash is not “related” to economics? I said it is not ABOUT economics per se.
Look, Penson is related to human beings too. Does that mean this blog should deal with anthropology?
ANONYMOUS:
So while you may claim to not be limiting yourself,
LILA: I don’t just claim. Read my books. The major criticism made about both was that they covered perhaps TOO much territory for their size, but they were both regarded as very thorough in their understanding of the crisis.
What, again, have YOU written? Indeed, who are you? Anyone can shill anonymously for any position without any track-record or any evidence.
ANONYMOUS
and claim that DC doesn’t either,
LILA : I said exactly the opposite. I said DC obviously works within limits set by intelligence, just like GATA. See? YOu don’t read. Trouble with the internet. Filled with arrogant, opinionated cowards destroying the careful work of people who are struggling to get the facts out.
ANONYMOUS
it is quite obvious that oversights on basic issues reveal otherwise
LILA:
1. There are limits set by intelligence no doubt. I’ve said so. My own writing is free of them.
2. Obvious to whom? I’ve shown every statement of yours to be false so how is it “obviousZ”
ANONYMOUS:
. As for the rest of the rah-rah crowd that inhabits this blog, they need to wake up and smell the coffee or be regarded with some suspicion as beneficial recipients of the fiat money status quo,
LILA:
1. Websites usually have followers who support them. Nothing wrong with that. DC gets NO coverage in the media for all its value. LRC and Paul get plenty, though they act as if they don’t. Inflation and central banks are discussed by everyone. No one knows the names of the networks though. Time magazine doesn’t carry their names on the cover.
So it looks like you must be a denizen of the financial community that is at there receiving end of DC’s critique? Perhaps a hedgie? A corrupt speculator? ONe of the VERY PEOPLE WHO RECEIVE MONEY FIRST? I see a lot of them here, defending their actions.
Again, read Nationalization In a Time of Monopoly.
As for me, I’m one of those savers who is the sworn enemy of the debt and inflate crowd. Have never held debt.
ANONYMOUS:
or maybe just plain naïve, although naïveté is becoming an endangered mindset.
LILA: Naive. Hardly.
Overly cynical perhaps. Not naive. Again, you don’t know what you’re talking about and it shows.
Try reading a bit.
Then come back and talk. Better yet, if you want some credibility, get an argument or a fact to suppport it.
We’re adults here.
Lila,
You put a lot of thought into your response. What is a bit puzzling is that you should take such exception to bringing up the subject of “honest money” in this forum, as one who has a background rooted in India. As far as credentials go, people are beginning to distrust them, as they are the source of many of today’s problems. Take Bernanke, for example. Next time he takes to his helicopter he will no doubt drown most of us in a blizzard of his dollars.
It is interesting that such a sensitive nerve has been struck, though. Until the first message from “Anonymous-September 23, 2011 at 2:37 pm” was written there was NO direct mention throughout DC about Constitutional money (gold/silver/copper for those born after its existence-or promissory notes in lieu of the previous). One exception might be a piece written by Patrick Byrne demonstrating how inflated currency could impact an island nation by large numbers of people and money from without suddenly arriving, just for example’s sake. While you may feel that this is not a forum for that to be mentioned, we will have to agree to disagree as it is at the very heart of this country’s financial problems, and those worldwide for that matter. And because it is such a huge and widespread problem there should be no criticism towards those of us who feel that, in your “doctor” example, the source of the problem is more worthy of solution than the various symptoms of criminality it introduces. Until this rises to the top of the list of financial issues to be addressed, there will be NO resolution to economic woes. That statement, by the way, comes by way of the “un-captured” and un-brainwashed by the educational system.
As an example, think of financial crime, and only attacking its symptoms to be somewhat like the issue of illegal immigration. Here perhaps some digression from Ron Paul’s solutions will have to be made. But, again, his focus on the heart of the matter (the Fed) could make that issue a moot point. It is obvious that the illegal immigration problem could be seriously addressed by penalizing employers, per IRCA-1986, and since eVerify employers no longer have any excuses, but still are not penalized. That would be the humane thing to do. But instead those who come here (attracted is more accurate) receive the penalties as coyotes thrive in splendor from the thousands they pocket for providing illegal passage into the country, sometimes directly to the doors of an employer awaiting their arrival. Of course politicians and regulators are deeply “captured” by money flowing to them under the table. This is just an example, so please don’t go into your off-topic rant.
Maybe who really has been the most deeply captured (maybe most securely chained is a better description) are the populations everywhere who must rely on fake/counterfeit mediums of exchange termed “legal tender”. It is amazing that any should accept the word “legal” to be attached to pieces of un-backed paper currency that purport to be “money”. But that is the danger of brainwashing in current day academia.
This is our fight too!
http://www.livestream.com/globalrevolution
http://www.biblebelievers.org.au/bushlist.htm
Dozens arrested in 8th day of ‘Occupy Wall Street’ protests
By Nina Golgowski, CNN
updated 2:59 AM EST, Sun September 25, 2011
The latest arrests include disorderly conduct and resisting arrest
The protests started September 17 in lower Manhattan
They are aimed at drawing attention to the role of financial interests in the spiraling economy
(CNN) — About 80 people were arrested on the eighth day of protests in New York on Saturday, the greatest number since demonstrations started near Wall Street.
Earlier arrests in the week totaled about 20 on previous days for similar charges, according to New York City Deputy Commissioner Paul J. Browne.
The latest arrests include disorderly conduct, resisting arrest, obstructing governmental administration and assaulting a police officer, according to Browne.
The protests started September 17 in lower Manhattan and are aimed at drawing attention to the role powerful financial interests played in America’s spiraling economy.
“We’ve got a whole bunch of people sitting in Washington that can’t figure it out,” said organizer Bill Csapo.
The mission is for ” 20,000 people to flood into lower Manhattan, set up beds, kitchens, peaceful barricades and occupy Wall Street for a few months,” the official “Occupy Wall Street” website read.
By Saturday, the site had a series of updates on arrests, including the exact location of a police van holding arrestees. One was described as having a “very bad concussion, possibly life threatening” and urged participants to demand medicare care for those affected.
“It’s just letting people know that it’s going on,” Csapo said on the website. “We need to call the police and tell them to let these people go.”
CNN called police officials, but they declined to comment further on the extent of injuries or specific use of force. But descriptions by the website and some protesters present affirm the use of mace and Tasers.
One midtown resident, Ryan Alley, claims he wasn’t aware of the protests until he found himself among them. He said he was penned in by police while standing near a group of protesters, pushed against a wall and nearly arrested.
“They turned our backs, put us against the wall,” Alley said. “They’re being very aggressive … half the people here have no idea what’s going on … I’m actually very ashamed to be a New Yorker.”
One woman with bloody lips stood with her hands zip-tied behind her back.
“I wasn’t doing anything and I was punched!” she called out to spectators.
Csapo says the organization is worried about NYPD activity after nightfall.
Despite the concerns, the “resistance continues,” the group says.
“We’re occupying that square. We’re not going anywhere,” Csapo said about their new Liberty Plaza location near the former World Trade Center.
If you want to see how captured the media is, just follow this event:
https://occupywallst.org/
They are brave and principled folks.
If you can’t be there, donations for staples are appreciated:
http://nycga.cc/donate/
They’re not going away.
“…The protests started September 17 in lower Manhattan and are aimed at drawing attention to the role powerful financial interests played in America’s spiraling economy.
“We’ve got a whole bunch of people sitting in Washington that can’t figure it out,” said organizer Bill Csapo. …”
Does anybody believe that there are “…people sitting in Washington that can’t figure it out …”. Or is it more likely that they pretend that they “…can’t figure it out…”?
Thank goodness people are waking up and are not going to take the destruction of their standard of living through “legalized” theft lying down, to the benefit of financial interests. People better know that the police may act in an unrestrained manner.
So it is hoped that there will be no loss of life or bodily harm by people who are rightfully protesting the financial theft taking place by Wall Street interests.
And, speaking of hoodlums, cutpurses, thugs and assorted miscreants…
In Fullerton, CA, police officers murdered a white homeless man, Kelly Thomas, characterized as “mentally ill”, when he resisted as he was threatened with bodily harm by a Hispanic officer named Manuel Ramos and partner, Cicinelli. This has the appearance of a crime tending towards the “hate” category as well, though none are publicly stating this. Officials, including the Mayor; Police Chief; Orange County District Attorney, Tony Rackauckas; and the County Coroner spent more than 2 months in supposed investigation of the matter, which seemed to point towards hoping the issue would disappear from the public’s memory. Only the pressure of some courageous talk radio stations, and their hosts, kept the issue alive by hounding officials to release the many witness accounts and video recordings of the incident. (This report is available on Wikipedia.)
The Mayor, by the way, went on paid medical (?) leave rather than confront the issue, as did the Police Chief. All officers at the scene, including Ramos, were being paid and were continuing their police duties until the DA announced his findings. The understanding is that these actions are written into California law for the police, whereas private citizens, under similar circumstances, would be treated much differently, and rightly so.
Finally, during the week the DA publicly announced that Officer Ramos was to be charged with 2nd degree murder (?) along with one other officer who is charged with manslaughter. Other officers on the scene apparently showed no displeasure or indication that they would intervene on their colleagues’ misconduct.
Is the last account off topic? Apparently at least one on this forum may step forward to say that it is. However protests to the reigning authorities in Orange County, CA have that strange characteristic of encompassing the issues surrounding the current Wall Street protests, just as funny fiat monopoly money pulls in the criminal element from everywhere on planet Earth to engage in the sort of activities attributed to Penson Financial and their partners in crime. The source of the disease, i.e, the Fed, is what has to be eliminated.
Incidentally reports are that Ron Paul came in 5th in a recent poll. Apparently push-back from the powerz is showing its effectiveness.
MOVE TO 55 WATER STREET go to the DTC who is the leader? they need to focus on 1 thing SETTLEMENT
http://dtcc.com/products/cs/equities_clearance/obligation_warehouse.php
THEY CALL IT A OBLIGATION WAREHOUSE only reason for a warehouse is to STORE a lot of whatever, in this case FAILS
EX-clearing the DTC says it has no way to know how big it is.. But we are trying to clean it up.. Watch the clip
http://dtcc.com/products/cs/equities_clearance/obligation_warehouse.php
YOU DONT KNOW WHAT YOU CAN’T SEE What a JOKE Blame everyone but themselves
Not an atypical vocation:
http://www.nypost.com/p/news/local/the_lawyer_who_ate_new_york_SO9DZBVJ4hxnr7jY8rDb2J
@Anonymous
ANONYMOUS:
“What is a bit puzzling is that you should take such exception to bringing up the subject of “honest money” in this forum,”
LILA:
1. Nice try, but I don’t “object to bringing up the subject of honest money”. I WAS RESPONDING TO FABIO BOSSI, A PAUL SUPPORTER WHO HAD POSED A QUESTION EARLIER ABOUT PAUL. I was expressing my developing reservations about RP, and YOU RUSHED OVER WITH UNFOUNDED ACCUSATIONS AND SMEARS, which you have produced no evidence for. My entire recent writing has been about honest money.
2. I don’t control this forum, so I can’t specify what they bring up in their posts but as I said look at the focus and what the title of this blog is – it is largely about the SUBVERSION OF THE MEDIA and the regulators and about the Milken network. Are you part of any of these?
3.I objected to your PRETENDING THAT DISCUSSING FINANCIAL CRIME IS A DISTRACTION to discussing honest money. It’s a complement.
So why are you spinning it?
4. Absolutely NOTHING prevents you from talking about honest money here. What is objectionable is PRETENDING AS THOUGH TALKING ABOUT FINANCIAL CRIME AND THE NETWORKS THAT COMMIT THEM is a distraction.
Why? Are you employed by these networks? Do they send you here to distort? There are hundreds of forums discussing honest money. There is only one analyzing this particular network. Stop trying to bash it JUST LIKE THE MSM.
5. There is no one one-to-one correspondence between printing more money and committing financial crimes, which is what you are trying to imply. Crime is crime.
Do you suggest that if there is a decline in wages, then the population inevitably must become bank robbers? If so, then you are not any kind of proponent of free will, let alone the free market, nor of honest money or honest people.
Honest money and honest people go hand in hand.
If we keep the money honest, we must also ensure the people in the markets stay honest.
This is self-evident, except to the crowd committing the crimes, whether in government or in the markets.
6. Rest of your diatribe is wasted on me. I know all that and more.
If you had any sense you’d see that Byrne’s work is perfectly complementary to the work of Ron Paul, WHOM HE HAS ENDORSED.
It is RP WHO HAS NOT endorsed Byrne’s work, as he has not endorsed 9-11 research, or attacked financial crime. It is RP who is a CAREER POLITICIAN who has never stopped a thing from happening in thirty years. Why would he be able to change anything in the next thirty, however honest he himself is? I doubt he will go anywhere and see clear signs that he is being coopted or neutralized already.
I wish him well but I am not convinced, and your attack against this blog tells me what I need to think about the kind of support he is getting and why.
Let me assure you that the criminals at the top will use “honest money” and “gold” and good economics to perpetuate their stranglehold, as surely as they were able to use money printing and inflation. The situation is FAR GONE by now. The only reason RP has the media attention he has is because the elites have game plans ready for all scenarios.
The power elites EXISTED BEFORE THE FEDERAL RESERVE WAS CREATED, so how could it not be so?
Bankers were pushing up land prices in the US in the 19th century and causing panics and manias long before the FED.
Gold is certainly the preferred backing to money. I am all for it.
I am all for ending the Fed, competitive currencies (RP is FOR ONE WORLD CURRENCY, btw) and a true free market.
Perhaps RP will single-handedly bring this about.
Wonderful, if so. But I’m not holding my breath.
And I am entitled to say so on a forum friendly to RP, without anonymous trolls coming up with factless innuendo.
Lila:
4. Absolutely NOTHING prevents you from talking about honest money here.
Anonymous:
That wasn’t the point. As previously mentioned, prior to the statement you cite, there were NO statements anywhere within all of DC that mentioned it, other than oblique references.
Lila:
5. There is no one one-to-one correspondence between printing more money and committing financial crimes, which is what you are trying to imply. Crime is crime.
Anonymous:
It is pretty difficult to discuss an issue with someone who steadfastly refuses to recognize the obvious. Crime is NOT crime. You know that full well. There are different levels of it. Otherwise judges would not render sentences of varying lengths. What the central banks of planet Earth are committing is widespread counterfeiting that is destroying the standard of living of billions of people, and lining the pockets of the banksters in the process. So are you implying that a kid that steals a Hershey bar in a candy store is equivalent to that? You like to trot out your educational credentials. Perhaps you should review your past educational experiences and consider that perhaps you were brainwashed in those ivy halls and not taught the truth. Or was it the case that you entered with the tendencies of acceptance of current economic lingo favored in those hallowed halls of economic learning funded in large part by central banks?
And your intimation that there is dishonesty on this end is laughable. What is dishonest is your attempt to weasel around the glaring dishonesty of printing press money by saying:
“…Are you employed by these networks? Do they send you here to distort? There are hundreds of forums discussing honest money. There is only one analyzing this particular network. Stop trying to bash it JUST LIKE THE MSM….”
It is guaranteed that you will NEVER hear any of the major mass media outlets discuss in any major way the fraud committed by printing un-backed currencies.
There is no reason to answer all your other references to quotes by Anonymous, because your points repetitiously attempt to paint comments by this screen name as some sort of attack dog, just because, from the outset, it was explained that this blog totally misses the big picture of how fiat currency is an incubator of the types of fraud this blog exposes. That being the case, to have completely avoided references to it raises many questions. So now the missing keywords of gold and fiat are part of the massive content of this website.
By the way, these particular anonymous posts are not the only ones on the Internet to disclose that DC has missed this important issue of the horrendous fraud of counterfeit fiat monopoly money.
You will be left with a quote you can chew on for a while by Thomas Jefferson:
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
Perhaps you should take a little time out to wander the streets near where you live, especially during the late hours. Pay close attention to the cars parked on the streets to see if they have occupants sleeping in them that are gone by daylight. Get real, lady, and take off your blindfold, unless you consider that somehow to be the norm in your experience.
@Anon
Posting this for the third time, abbreviatedly.
1. You haven’t rebutted any point I made.
2. I am much more aware of the effects of inflation on poor people that you are, having grown up in a third-world country.
3. I don’t control this forum so I can’t tell you what it should be about. It seems tightly focused on investigation of crime on Wall Street. Take up that issue with the founder.
4. End the Fed and Investigate the Networks are not mutually exclusive mandates, however much you insist they are.
5. You still present no facts to rebut me or make your case.
I wonder why? I was an early (and in the US Indian community, very lonely, supporter) of RP, and for all the right reasons and at quite a bit of loss to myself. So your insinuations baseless. I part ways with RP because he continues to bolster the central mythology of the Z regime and the NWO.
Correction. I based my comment on Ron Paul supporting a one world currency on an interview that was widely reprinted. I have since looked into that and seen other places where he endorses competing currencies. So I withdraw that part of my criticism.
I also see that LRC is running some commentary from Gary North that’s critical of Goldman Sachs (they have also run some articles before on them that were negative, as well as one by Marc Faber that called them angels).
So maybe they are making more of an effort to voice people’s outrage about the financial way on America.
But, for me, I still don’t see RP going anywhere the elites have not already agreed to go.
You really make it appear really easy with your presentation however I in finding this topic to be really something that I feel I would never understand. It seems too complicated and very broad for me. I’m taking a look forward in your next submit, I will try to get the grasp of it!
hello nice blog nice blog
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