Post by JoeRockss on Jan 23, 2009 23:25:47 GMT -5
Below is an e-mail I received. Not sure why this person sent this to me. Check out the list of recipients. Has anyone ever heard of the sender? (cinsured@aol.com)....Cmkx is metioned and is high- lighted in orange, below
What the Bank Bailouts Mean To You!
From: cinsured@aol.com
Wed 1/21/09 11:11 PM
To: hubert@hgmandassociates.co.za; jwestbrook1@bloomberg.net; DR@dailyreckoning.com; 4justice@cmkmdiamondsinc.com; oiea@sec.gov; enforcement@sec.gov; oig@sec.gov; smallbussiness@sec.gov; cmkxmillionaires@yahoo.com; joerockss@hotmail.com; mpento@deltaga.com
The Destruction of the American Economy.
How the hell did this happen, who’s to blame, and how we can get America back on track.
For those American Taxpayers mad about the Wall Stree t Bailouts, mad about the free falling economy, mad that the unemployment rate is skyrocketing, mad at your depleted 401K portfolios, this is a must read email!!!
This email report will expose everything dirty about Wall Street and our Market Regulators. The crimes committed by the Wall Street Financial Banks/Brokers that lead to the Credit Crisis will be exposed. Crimes that our leaders in Washington and our Market Regulators are so desperately trying to hide from public view.
This report will detail all aspects of the Credit Crisis. You will learn that the Credit Crisis was caused by a combination of risky leveraged derivative bets, which are simply bank gambling debts and by the counterfeiting of stock securities, known as Naked Shorting. This report will detail20who participated in these actions, this report will Name Names!
You will learn why the bailout of the banks will ultimately cost American Taxpayers tens of trillions of dollars more then what our leaders are currently forecasting. You will learn what the devastating effects the bailouts will have on our future and our children’s future.
Finally, this report will outline a simple plan that will force the clean up of Wall Street, which should then help turn our economy around.
Who am I and how do I know all this? I am a shareholder of a small company called Bancorp International. Bancorp International, known as BCIT is a small start up company, which was on its way to building itself into a growing successful company, before it was viciously targeted and attacked. The story of BCIT will shock and anger most hard working Americans.
The BCIT and its shareholders are victims of an orchestrated criminal act called Naked Shorting. We have witnessed the horrors of Naked Shorting first hand.
Naked Shorting is a practice that the large Wall Street Financial Banks/Brokers used to rig the stock market for huge profits by counterfeiting the stock of targeted individ ual companies with the intent of bankrupting them. Yes counterfeiting of stock!!!
How big is Naked Shorting? Naked Shorting makes the Bernard Madoff scandal look like a small parking infraction, that’s how big Naked Shorting is!
The fact is the Naked Shorters have counterfeited stock in thousands of American companies over the past few years. The Naked Shorters have stolen trillions away from these companies and their shareholders. Hundreds of thousands of jobs were lost with the destruction of these companies, making Naked Shorting the largest act of Financial Terrorism ever inflicted on the American people.
Yet our own Market Regulators and Congressional leaders have done nothing to stop this. They have turned a blind eye to the plight of all these American companies and their shareholders. They have been well aware of Naked Shorting for years and refused to enforce the laws that would have stopped Naked Shorting. Now they even refuse to go after the criminals, who were involved in Naked Shorting.
The reason why our Market Regulators and Congress refuse to go after the Naked Shorters is because it is the large Wall Street Financial Bankers/Brokers doing the crime.
The evidence in this report will clearly show that in today’s America the large Wall Street Financial Bankers/Brokers are above the law. They hold all the power and are the puppet mast ers that really run the American Economy, while Congress, the SEC and the DTCC are just their puppets.
Note 1: The Security and Exchange Commission, the SEC, is the police force for Wall Street. Their top job is to protect the public.
Note 2: The Depository Trust Clearing Corporation, the DTCC’s is a private company whose job is to oversee the settlement of virtually all the trades in the United States Market. In other words, the DTCC’s main job is to make sure the brokers are delivering real shares and not counterfeit shares to the investment public.
Note 3: The Senate Committee on Banking, Housing, and Urban Affairs is a Congressional Committee responsible for overseeing the SEC, the Stock Market, and the Banks. They are the ultimate watchdogs of the Economy.
The SEC under the leadership of Chairmen Christopher Cox, the DTCC under the leadership of Donald F. Donahue and the Senate Committee on Banking, Housing, and Urban Affairs led by Republican Richard Shelby and Democrat Christopher Dodd all are guilty of betraying the American Public.
They all should be immediately fired and all should be investigated for fraud and possible kickbacks. Under their watch they allowed the large Wall Street Financial Banks/Brokers to destroy and pillage the American Economy. These individuals sat back and did noting while the financial elite counterfeited shares in thousands of companies like BCIT.
BCIT the Smoking Gun.
BCIT is the smoking gun. BCIT has undeniable proof that well over 350 million counterfeit shares of BCIT stock were created by the large banks/brokers. Furthermore, BCIT’s case shows that the SEC, the DTCC and Congress were all well aware of this and refused to do anything about it. The Naked Shorting criminals pocked well over 50 million dollars from the c ounterfeiting of BCIT stock alone.
After we provide our evidence, we hope you the American Public will begins to understand how broken our Economy really is and will help us spread the word about what is really happening within our economy.
All it takes is for one person to stand up to the injustices and say enough is enough followed by another, then another and soon a movement is born. We hope this report will start such a movement and that you will stand up with us.
We only ask that you forward this report on because this effects EVERY AMERICAN CITIZEN!
Only through public awareness and public pressure will we succeed in getting rid of the criminals that run Wall Street. Only through public awareness and public pressure will we be able to make the changes necessary to fix our Economy.
Without these changes our kids will inherit an America that is a shell of itself. An America with staggering higher taxes, a lower standard of living, and fewer job opportunities. Conversely the Wall Street rich and powerful will continue to get away with their criminal activates against their fellow Americans without any consequences. < o:p>
Two hundred years ago, our forefathers would have gathered up their guns and pitchforks and used them to run all of the Wall Street Financial Bankers/Brokers, Market Regulators and Congressional Leaders that caused the Credit Crisis out of town.
Today we do the exact opposite. Instead of punishing those who caused the Credit Crisis we bail them out. They destroyed our economy and we reward them by giving them trillions of dollars.
We must ch ange this. The day the large Wall Street Financial Banks/Brokers became greater than the law was the day that the American Economy’s fate was sealed.
We must make the large Wall Street Financial Banks/Brokers accountable for their actions. We must make our Congressional leaders and Market Regulators accountable for not doing their jobs. Accountability must mean firings and jail time for those involved in causing the Credit Crisis or nothing will ever change.
The Credit Crisis
The Credit Crisis is the reason our economy is now in a freefall. Without a Credit Crisis, America would not be knee deep in a recession right now.
The two major causes of the Credit Crisis were risky Leveraged Derivative Bets and Naked Shorting.
Credit Crisis Causes #1: Leveraged Derivative Betting
Derivatives are used by banks and other major businesses to hedge risk, make a market, or to engage in speculation.&nb sp; In other words, derivatives are basically big bets made with a tremendous amount of leverage. Derivative bets can be made on anything like stocks, bonds, currencies, commodities, the housing market, etc. The housing market was the bet of choice by many in Wall Street.
A typical Wall Street Bank/Broker with 1 billion dollars in hard assets was allowed to borrow 50 to 100 billion dollars and then wager that money on the derivative market. When the housing market was going up the Wall Street Banks were making billions on their leveraged bets. The more money they made the riskier bets they made. In good times the high leveraged bets resulted in insane year-end bonuses for all those employed at these Wall Street Banks/Brokers.
The music stopped when the housing market and other derivatives turned south.
What do you suppose happens to that 50 billion dollar housing market bet in a free falling housing market?
A twenty percent housing market downturn would result in a 10 billion dollar loss on the original 50 billion dollar housing market bet. How then does a bank cover a 10 billion dollar loss when the bank only has 1 billion dollars in real value? Can you say “Taxpayers Bailouts”!
Total of the Taxpayer Bailouts
So what is the total value of the combined bets Wall Street made on the derivative market?
If we know this we can quantify how big the total losses will be. This will tell us how much bailout money the banks and Wall Street will ultimately need.
< div class=MsoNormal style="MARGIN: 0in 0in 0pt; tab-stops: 365.85pt">World GDP is about 50 trillion dollars, which represents all of the world’s total hard assets. In 2001 the derivative market was also roughly 50 trillion dollars. This is economically sustainable because 50 trillion dollars of derivative bets were backed by 50 trillion dollars of real assets, an equal 1 to 1 ratio.
However, the derivative market went from 50 trillion in 2001 to a staggering 700 trillion by 2007, all because of leveraged borrowed money.
The ratio of GDP (50 trillion) to the derivative market (700 trillion) went from a realistic 1 to 1 ratio to an unsustainable 1 to 14 ratio all because of GREED from the likes of Goldman Sachs, Citigroup, Morgan Stanley, Bear Stearns, Lehman Brothers and many other.
They made 700 trillion dollars worth of bad bets back by nothing more than thin air. A pack of degenerate gamblers that literally bet the house on the housing market with money they didn’t have and now we the American Taxpayers will be forced to pay off their gambling debt for decades.
What were former FED Chairmen Allan Greenspan, President Bush and Congress doing while the banks were making their 700 trillion dollars worth of bad bets that now threaten to destroy us?
Incredibly our leaders decided that the banks needed no transparency and they were perfectly capable of self-regulating themselves.
The SEC, the police of Wall Street, with the insistence of former Commissioner Annett Nazareth, in 2004, went as far as removing an important regulation that limited the amount of money that investment banks could borrow. With this regulation removed the banks had no more borrowing restrictions. This paved the way for them to borrow unlimited amounts of money, which they used to make even riskier bets on the housing market and other derivatives. The SEC removal of this important regulation is the main reason the derivate market went from 50 trillion to 700 trillion dollars.
Total Bailout Cost
If we take the 700 trillion dollar derivate market, which is nothing more than 700 trillion dollar in bets and take a very conservative 10% drop in derivative prices (10% drop in housing market, commodities, stock market…etc) across the board, we are talking about 70 trillion dollars in betting losses by the large banks. If world GDP is roughly 50 trillion dollar then lets assume bank assets make up 20 trillion of the 50 trillion GDP figure.
The banks would then have 70 trillion in losses and only 20 trillion in hard assets to cover20these losses. This would leave the banks with 50 trillion dollars in losses beyond what they could cover themselves (70 trillion minus 20 trillion equals 50 trillion), or in other words they are in need of 50 trillion in taxpayer bailouts.
America are you beginning to realize how big of a catastrophe we are facing?
Now you know why each week the FED and Treasury keep raising the amount of bailout money they are paying out to the banks.
The FED as of today has pledged nearly 8 trillion dollars and the Treasury has pledged 700 billion dollars. This is just the start of the bailouts, we only have 41.3 trillion or so more to go.
The Impact of the Bailouts on the Future of America
Even before any of the bailouts started about half of our tax dollars were going towards paying just the interest, again this is only the interest on our national debt. Now with all the bailouts the national debt will explode in the coming years. Soon all of our tax dollars will go towards paying the interest on the national debt and still this might not be enough. This will leave no money for schools, roads, health care and national defense unless there are major tax increases.
There is no ways around the upcoming tax increases. It might not be this year or next year but very soon. In the years to come our taxes will sky rocket, maybe even double or triple. Our children will be forced to pay life altering higher taxes throughout their lifetime, all because of the sins of the large Wall Street Financial Banks/Brokers.
Believe it or not run away higher taxes is the best-case scenario in this Credit Crisis tragedy. If our leaders continue to allow the large Wall Street Financial Banks to dictate economic policy you will continue to see the banks getting more and more bailout money each month.
0D
Eventually the burden of the bailouts will be far too great for even the American Taxpayer to finance and this could easily lead America into bankruptcy. As shocking as this sounds it will be our reality if the bailouts continue. We simply cannot afford to bailout the banks to the tune of 40 to 50 trillion dollars.
Credit Crisis Causes #2: Naked Shorting
While Leveraged Derivative Betting was the primary cause of the Credit Crisis, Naked Shorting helped amplifi ed the Credit Crisis.
As mentioned above, Naked Shorting is the greatest crime against small and mid size American companies and shareholders in the history of the United States. Naked Shorting over the years has destroyed thousands of American companies, costing trillions of dollars in lost shareholder wealth and hundreds of thousands of lost jobs
The Naked Shorting game is played like this. A large Wall Street Broker targets a company. The brokers then start making big bets that the company’s stock price will go down.
This is called taking a short position, which is legal . Think of shorting as the opposite of buying a stock. When you short a stock, you only make money if the stock price goes down you lose money if it goes up. The further down the stock price goes the bigger the profits you make on your short bet.
Normally it’s up to a company’s performance and market conditions that decide whether or not a company’s stock price goes up or down.
Naked Shorting, which is very illegal, takes all of this out of the equation. Naked Shorting rigs the market so the targeted company’s stock price always drops regardless of any other factors.
How do the brokers manipulate the stock price? It’s the counterfeiting of stock that gives the brokers total control.
Note: We will discuss in a later section how the target companies can be completely unaware that the brokers are counterfeiting their stocks.
By the brokers adding a never-ending supply of counterfeit shares, the brokers eventually exceed any demand there is for the stock and the stock price drops. How far the stock price drops depends on how many shares the brokers are willing to counterfeit.
Naked Shorting always ensures the brokers have the winning hand.
In summary Naked Shorting is rather very simple, the brokers first target a company, then they place bets that the share price of that company will go down, then they illegally manipulate the share price down by counterfeiting shares, and then they collect the money on their winning short bet.
But wait it gets much worse
The ultimate goal for the Naked Shorters is not to just drive down a company share price, but the real goal is to bankrupt the company.
Bankruptcy is the tool the brokers use to hide the counterfeiting evidence. The millions or billions of extra counterfeit shares, suddenly disappears when the company declares bankruptcy. That’s because bankruptcy eliminates all stock shares, real or counterfeit, they all get wiped out.
The Making of Counterfeiting Shares
< SPAN style="mso-bidi-font-size: 11.0pt">When you buy (or short) a stock or even when a big buyer like a Hedge Fund buys (or shorts) a stock the process is the same. You give your broker real money and in exchange your broker is obligated to deliver real stock to you at an agreed upon price.
What people don’t realize is that when you make a stock purchase your broker first sends you an electronic marker to your trading account. YOU DON”T HAVE REAL STOCK YET!!!!!
The electronic marker looks and acts like real stock, people just naturally assume they own the real stock. This is understandable because the electronic marker looks authentic, only your broker, the DTCC, and SEC would know the difference.
Remember the DTCC, the Depository Trust Clearing Corporation is a private company whose job is to oversee the settlement of virtually all the trades in the United States Market. The DTCC’s main job is to make sure the brokers are delivering real shares and not counterfeit shares to their customers.
In reality the electronic marker is nothing more than an IOU from your broker, even though it says you bought X amount of stock at X share price at this time of the day.
The electronic marker confirms the stock amount and stock price of your business transaction between you and your broker but your broker still must go out into the market and retrieve the real stock at that agreed upon price and then deliver that real stock into your trading account.
Up to this point the broker’s actions are perfectly legal. The United States Settlement System gives the brokers 3 business days to go out into the market and purchase the real stock.
For the most part, honest brokers usually deliver real stock to your account close to the same time your electronic marker gets entered into your account. Only in unusual cases like in an extremely volatile market or with an extremely illiquid stock should it take up to three days for your broker to deliver the real stock to you.
But what if your broker has alternative motives? What if your broker wants to manipulate the company your buying stock from? What if your broker decides not to deliver real stock to you and never intends to? Then what happens?
All the electronic markers in your account, now become permanent counterfeit stock . There is no real stock attached to the electronic marker.
At some point you will likely sell the electronic markers, which at that point the electronic markets becomes counterfeit shares of stock.
And why not? You have no idea your holding counterfeit stock.
When the counterfeit stock is sold it goes back into the market for others to buy and sell. At this point the counterfeit stock and the real stock get mixed together and are indisting uishable from one another. Since the counterfeit shares get added in with the real shares the total number of shares of that stock increase with every counterfeit share created.
If the broker repeats this process over and over again with their other clients, it’s easy to see how millions if not billions of extra counterfeit shares can get mixed in with real shares and a company’s share structure can balloon out of control.
Now the company’s whose stock is being counterfeited as well as the company’s shareholder base has no idea this is occurring.
They have no idea that their stock is being diluted to hell and that is the reason the stock price is dropping like a rock. They only know for some unexplained reason the stock price is dropping fast.
Who are the brokers involved in Naked Short selling?
Overstock.com is another company battling Naked Shorting, in their lawsuit awaiting trial they charge the following large Wall Street Broker Institutions with Naked Shorting.
The firms are:
Goldman Sachs, Morgan Stanley, Bear Stearns, Bank of America, Bank of New York, Citigroup, Credit Suisse, Deutsche Bank, Merrill Lynch and UBS.
Many other companies have made similar accusations against these same large Wall Street Financial Institutions for Naked Shorting.
To date, no criminal charges have been brough t against these firms by the SEC. The SEC refuses to investigate the large Wall Street Financial Banks/Brokers for Naked Shorting.
The SEC ignored decades of evidence surrounding Bernard Madoff and his 50 billion dollar ponzi scheme. Likewise, the SEC has ignored a decade worth of evidence surrounding the over trillion-dollar Naked Shorting scheme. The SEC has ignored tens of thousands of letters from the American Public, letters from the Chamber of Commerce, letters from the Small Business Association over the years demanding they clean up Naked Shorting.
Apparently it seems inconsequential to the SEC that trillions of dollars of wealth has been stolen away from the American Public by the likes of: Goldman Sachs, Morgan Stanley, Bear Stearns, Bank of America, Bank of Ne w York, Citigroup, Credit Suisse, Deutsche Bank, Merrill Lynch and UBS (as indicated by the Overstock.com lawsuit)
How is this possible when even SEC Chairmen Cox after several years of denial, finally admitted that Naked Shorting is a big problem? The SEC admitted that Naked Shorting is a market wide problem, BCIT is living proof there is Naked Shorting, yet nobody is ever found guilty of doing it.
The BCIT Story
The SEC and the DTCC continue to downplay Naked Shorting to the public but then how do they explain BCIT. The truth is they can’t and that is why they are desperately trying to kill BCIT by preventing them from trading again.
If BCIT were to trade again, this would expose to the world that the brokers counterfeited 350 million shares of BCIT stock. More importantly it would expose the roles the SEC and the DTCC played in covering up this counterfeiting crime. The evidence shows that for three years they knew all about the counterfeiting of BCIT shares by the brokers. BCIT has detailed the counterfeiting of shares in their company’s filings for years and yet the SEC still does nothing.
Even today, in the year 2009, with all the promise of changes and cleanups they are still doing everything in their powers to hide the evidence that 350 million shares of BCIT stock was counterfeited at the expense of 1500 damaged shareholders.
The brokers20started Naked Shorting BCIT in the summer of 2005. BCIT however, is fighting back, thanks to a heroic CEO named Thomas Megas and a relentless shareholder group.
Thomas Megas above all else is a man of honor and values. A man that has spent nearly a million dollars of his own money fighting for his company’s survival and fighting for the rights of his damaged shareholders.
Flanked at Mr. Megas side is the BCIT shareholders.
The shareholders will never stop fighting for what is right. They will never give up trying to get back their stolen money.
They will never stop trying to expose the SEC and DTCC, for their roles in covered up the broker’s crimes.
The BCIT evidence that the Bankers/Broker, DTCC, and SEC want to keep secret.
A brief history of BCIT events:
Ø In the spring of 2005 there was 4,750,000 shares of BCIT stock.
Ø The company share price dropped more then 90% in the spring of 2005.
Ø In the summer of 2005 the CEO, Thomas Megas alerted the SEC and the DTCC that there seemed to be a problem with the trading of his company stock. There were way to many shares being traded on a daily bases. Considering the stock only has 4,750,000 tradable shares in the market and on some days BCIT traded well over 100,000,000 shares.
Ø In August 2005 the company issued a press release reaffirming that they only issued 4,750,000 tradable shares and there was definite manipulation going on with the stock. The press release was a cry for help by the company to the regulators, hoping that this would force them to wake up and investigate the company’s price drop and the never-ending supply of shares being traded.
Ø The regulators reaction to BCIT press release had the opposite effect. Instead of the regulator going after the brokers, for count erfeiting millions of shares, they did the complete opposite and went after BCIT.
Ø The DTCC placed a global freeze on BCIT starting in August 2005. The global freeze still remains today, three long years later.
Ø A global freeze is a suspension of DTCC services, without DTCC services the brokers won’t trade the stock.
Ø A global freeze is only supposed to be a temporary event. Any share imbalance should be immediately investigated and rectified by the DTCC. That is what is supposed to happen, unfortunately for BCIT and BCIT shareholders the DTCC seems to be able to break their own rules to serve their own agenda.
Ø In the BCIT case the DTCC is using the global freeze as a means to keep BCIT from trading.
Why would the DTCC not want BCIT to trade?
Ø Thomas Megas the CEO proved through his own investigation, that at a minimum there are 350 million counterfeit shares in BCIT.
Ø The only way that many counterfeit shares are sold to the public is if the DTCC is woefully negligent or part of the fraud.
Ø If the DTCC were to follow the laws in place they would have to rectify the share imbalance in BCIT prior to or immediately at the start of BCIT trading by following these rules:
1.) The DTCC would have to admit to the public that under their watch the brokers counterfeited a minimum 350 million shares of BCIT stock.
2.) The brokers would then be forced to return the millions of dollars they stole from the BCIT shareholders.
3.) The public might finally realize that the counterfeiting that took place with BCIT is not an isolated incident but actually a common occurrence that has happened to over a thousands other companies.< /SPAN>
All the things BCIT has done to try to get the global freeze lifted.
Ø It doesn’t seem to matter to the DTCC and the SEC that over the last three years, BCIT has filed 35 separate filings with the SEC, filed 16 filings with the Nevada Secretary of State, 2 separate protracted lawsuits in Oklahoma, 1 lawsuit in Arizona, purchased two new CUSIP numbers, and filed form 15c211 all in an=2 0effort to lift the global freeze.
Ø BCIT has satisfied every regulatory requirement with the Nevada Secretary of State, the SEC, and the Financial Industry Regulatory Authority (FINRA), but BCIT is still blocked from trading.
Ø Everything that BCIT has done is twice the amount of filings and requirements that any other company has been asked to do to maintain their trading status, yet the DTCC still keeps BCIT under a global freeze.
Exposing the DTCC
Ø The DTCC is not a federal agency but a multi billion dollar private corporation, which somehow been given the power to oversee the clearing and settlement of virtually all equity trades in the United States.
Ø Most private companies have a Board of Directors in which the company’s executives answer to. The private DTCC is no different, they too have a Board of Directors in which their company executives answer to.
Ø The big problem with the DTCC is who is allowed to sit on the DTCC Board of Directors.
Ø How is the DTCC supposed to objectively oversee broker trading when many of the DTCC Board of Directors members work for the same large Wall Street Brokers they are set up to oversee?
Ø The conflict of interest inside the DTCC is truly alarming.
Ø As mentioned above, the Institutions involved in Naked Shorting as outlined in the Overstock.com lawsuit are: Goldman Sachs, Morgan Stanley, Bear Stearns, Bank of America, Bank of New York, Citigroup, Credit Suisse, Deutsche Bank, Merrill Lynch and UBS.
Ø Now look who sits on the DTCC Board of Directors:
o Mark Alexander
Managing Director - Global Markets, Merrill Lynch
o Art Certosimo
Executive Vice President, Bank of New York
o Randolph L. Cowen
Chief Information Officer, Goldman Sachs
o Neeraj Sahai
Senior Managing Director, Citi Markets & Banking
o Michele Trogni
Global Head of Operations, UBS AG
Ø It should now make perfect sense to anyone with half a brain, who the DTCC is protecting and why they are hell bent on preventing BCIT from trading.
How many counterfeit shares are there in BCIT?
Ø We know it’s well over 350 million. The only reason we know this is because of BCIT own investigation. The SEC did nothing for BCIT when it came to Naked Shorting, they refused to investigate the counterfeiting of shares in BCIT.
Ø In the spring of 2008, BCIT management issued a proxy vote. A proxy vote is where all the shareholders are allowed to vote on upcoming company actions.
Ø In a proxy vote each known share is counted and weighted equally. So if company X issued 1000 shares total, and all the shareholders voted, the total vote count should equal 1000 shares.
Ø Now if a company stock contained Naked Shorted shares, the evidence would be seen in the vote count. All votes exceeding the 1000 number would indicate the number of shares that wer e counterfeited and mixed in with the real stock.
Ø With a typical proxy vote its up to the brokers to send out the voting material to their clients. The broker must send out the material well enough in advance to insure their clients have plenty of time to review the voting material and then have enough time to cast their vote prior to the voting cut off date.
Ø With BCIT proxy voting, almost 50% of the shareholder did not receive their proxy material in time to vote. It seemed that many brokers conveniently did not send it out in time.
Ø Still with little more then 50% of the BCIT shareholders participating in the proxy vote, the amount of votes above the amount of shares BCIT issued, was roughly 350 million votes. Which indicated at a minimum 350 million counterfeit shares in BCIT and this is with just slightly more the 50% of the shareholder base voting.
Ø Imagine if all the shareholders were allowed to vote the real amount of counterfeit shares is likely closer to 600-700 million shares.
Ø Regardless, even with a known 350 million counterfeit shares and taking a conservative price of 15 cents a share (the last trading price of BCIT), the amount of money stolen by the brokers is 52.5 million dollars (15 cents * 350 million). Again, this is with a conservative 15 cent stock price. BCIT most likely would be trading at several dollars if it weren’t for all the counterfeit sh ares diluting the share price down to 15 cents.
Blackmail
Ø In an October 2008 meeting between BCIT and the DTCC, the DTCC finally gave BCIT an ultimatum after years of giving BCIT management false promises about lifting the Global Trading Freeze.
Ø BCIT management was told if they ever wanted the Global Trading Freeze lifted they first had to issue enough new shares to cover all the existing Naked Shorted shares the brokers created out of thin air.
Ø Issuing new company shares would essentially allow the brokers to cover up all of BCIT shares they counterfeited.
Ø This would also allow the brokers to keep all of the money they stolen from the BCIT shareholders without penalty. Furthermore, all the extra shares would severely dilute the share structure and cause even further damage to the stock price.
Ø < /SPAN>This is nothing more then BLACKMAIL by the DTCC. There are no other words to describe it.
Ø How the SEC and Congress continue to allow the DTCC to blackmail BCIT is beyond comprehension.
Ø Anthony Carlis le, Isaac Montal, Larry Thompson are three officials at the DTCC who are directly involved with the BCIT case. How they can allow the brokers to sell 350 million counterfeit air shares to innocent BCIT shareholders and then later block BCIT from trading which further injures the BCIT shareholders is beyond comprehension.
Ø I just hope that their families and friends get sent this email, so one day they will understand what these men have done to the BCIT shareholders.
The suffering BCIT shareholders
BCIT shareholders have had well over 50 million dollars stolen from them and unless, BCIT trades again, that money will be forever lost, and the brokers will forever keep that money.
The majority of BCIT shareholders are not wealthy. On the contrary we are struggling everyday middle of the road Americans who made an investment. An investment taken away from us, not because of any fault of our own, or any fault of the company we invested in, but because of a corrupt Wall Street System. So corrupt that blatant robbery of its citizens falls on deft ears.
We never envisioned that any of this could ever be remotely possible in a great country like America. Sadly, for our sake and our families’ sake we were terribly wrong.
Like many Americans, many BCIT investors are now facing tough times with the current economy:
Ø Some have lost their jobs and need their BCIT money just to keep them from losing their homes.
Ø Some were planning on using their BCIT money to pay for their kid’s college education.
Ø Some need the money to pay their medical bills.
The BCIT shareholders desperately need BCIT to trade again; they need to get their money back now.
They have waited three long years for justice; they should not have to wait one minute longer. What are all the politicians and regulators doing while this injustice is blatantly happening to the BCIT shareholders? Are there no good guys left in Washington?
How is all of this possible?
How is it that the financial elite, the l ikes of Goldman Sachs, Citigroup, Morgan Stanley and others were allowed to destroy the greatest economy the world has ever known by making bad bets they couldn’t cover and by rigging the market by counterfeiting stocks securities?
How is it the banking leaders single handily brought the American Economy to her knees and yet we are the ones forced to pay for their mistakes in taxpayer bailouts?
How is it possible that those receiving bailout money refuse to tell the American Public what they are spending the bailout money on and our leaders go along with this?
How is it possible that not one high ranking bank executive is being investigated for Naked Shorting crimes?
How is it that the SEC is still allowed to operate under its current structure and leadership still allowed to operate?
How is it possible that the DTCC, whose job is to oversee broker trading, seats those same brokers on its Board of Directors?
How is it possi ble that Congress ignored thousands of letters from damaged shareholders victimized by Naked Shorting?
How is it possible that an innocent company like BCIT gets sold over 350 million counterfeit shares, its 1500 shareholders robbed of over 50 million dollars, and yet the market regulators instead of trying to help these shareholders attempt to destroy the company by blocking it from trading for more then three years when they have done nothing wrong?
How is it possible that shareholders of another company called CMKX have not received any closure from the SEC after several years of investigation into CMKX? The CMKX shareholders are victims of the biggest fraud in the history of the stock market. A staggering 635 billion CMKX shares were illegally issued, which is twice the amount of shares the DOW trades in a year. Yet it is still unclear several years later if the 635 billio n shares were due to insiders illegally dumping these shares or due to the brokers illegally counterfeiting these shares. CMKX lawyer Bill Frizzell stated in a public email years ago that he believed there were well over a whopping 2 trillion Naked Shorted shares in CMKX. Either way, incredibly after several years, nobody has received any jail time for this monumental fraud that took place in CMKX. If it was the company insiders illegally dumping shares then why hasn’t CEO Urban Casavant and one time prominent company official and ex SEC lawyer Rodger Glenn been charged with fraud? Likewise, if it was due to Naked Shorting then why hasn’t one brokers been charged with any counterfeiting crimes? How is it possible that 40,000 CMKX shareholders have been damaged yet once again nobody seems guilty?
How is all this corruption by the large Wall Street Banks/Brokers possible? The answer is a simple one. The large Wall Street Banks/Brokers control the American Economy and therefore can do what ever they want to whom ever they want.
It is the large Wall Street Banks/Brokers that influence all the major economic decisions behind the scenes. That is why the Credit Crisis happened. That is why the banks continue to receive unlimited bailout money from the taxpayers month after month with no questions asked. That is why Naked Shorting was allowed to happen and is currently being covered up.
Unless the banks power and influence over the economy is reduced the American People will continue to suffer. Over the next few years you will hear from many politicians claiming great changes are being made, but in reality these changes will be nothing more than window dressing.
Our economic foundation is flawed because too much power has been given to the banks and it is dooming the American Economy.
We are no longer America for the people by the people we are America for the banks by the banks. The large Wall Street Financial Banks/Brokers have too much power over the SEC, the DTCC, Congress and even the US Treasury. However, it’s the Federal Reserve (FED) that gives the large Wall Street Banks/Brokers their enormous power.
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The Federal Reserve
The FED is the ultimate puppet master. The FED has more power then the President, Congress, and even the Treasury when it comes to the economy. The FED controls the nations money supply, which gives them tremendous power. It also gives them the power to make the rules or break the rules
In 1790 Mayer Amschel Rothschild, perfectly summarized the type of power the FED has when he said, "Let me issue and control a nation's money and I care not who writes the laws."
The problem with all of this is that the FED is owned and controlled, not by the United States Government like many Americans incorrectly assume, but rather by the large Wall Street Banks/Brokers. This makes the large banks the true kings of the economy.
The FED was created in 1913 by the large influential bankers of the time. The bankers created the FED with one purpose in mind. The bankers wanted to create a system where the large Wall Street Financial Banks reaped all the benefits in good times, by controlling and manipulating the money supply, and took on none of the risks in bad times.
They created a system where the American Taxpayers would be the backstop to the large banks in tough times. The only problem was they needed a new way to tax the American People. Hence, not coincidently the Federal Income Tax law was also created in 1913.
Now we are seeing all of this play out in our time.
The question now becomes how far will the FED go with the bailouts? If the predictions made here are correct, will the FED give the banks up to 50 trillion dollars in bailout money for all of their gambling debts, even if it means the American Public will suffer severely for it.
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The answer is a resounding yes! As mentioned the main reasons the bankers created the FED was for this exact type of scenario playing out now.
The Federal Reserve is a private central bank that is owned and controlled by it shareholders. The FED allegiances are with its shareholders and not the Government nor the American People. The shareholders of the FED are several of the large Wall Street Financial Banks/Brokers.
Now you know why the large Wall Street Banks are getting unlimited bailouts and why crimes they commit are not being investigated. There is zero transparency on what assets t he FED is buying from the banks. There is zero transparency on what the banks are using their bailout money on. Why the FED’s books has never been audited since its creation, a span of 96 years.
Our forefathers warned about the evils of having a private central bank and fought against it up until 1913 when the bankers successfully won out and created the Federal Reserve.
Thomas Jefferson has this to say about a private central bank controlling the money supply (in a letter to the Secretary of the Treasury Albert Gallatin): “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations20that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
President Abraham Lincoln also warned about the dangers of private central banks: "The money power preys upon the nation in time of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. I see in the near future a crisis approaching that unnerves me, and causes me to tremble for the safety of our country. Corporations have been enthroned, an era of corruption will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people, until the wealth is aggregated in a few hands, and the republic is destroyed."
Both Jefferson and Lincoln were proph etic. They predicted what we are witnessing now and what would happen eventually over time if the private banks controlled our Country’s money supply.
Fixing the Economic Mess and Turing America Around
There is still hope but we need to act fast and make the appropriate changes. If we do nothing Thomas Jefferson’s and Abraham Lincoln’s dire warnings will become reality. We will have no explanation for our kids why, on our watch, we allowed the greatest economic power the world has ever known, to be decimated because we stood by and did nothing.
It is so vital that we, the American People, as a nation stand together. That we no longer put up with the corruption, favoritism, greed, zero accountability, zero transparency, and bottomless bailouts of the banks.
We cannot rely on the Congress, Treasury, FED, the SEC, the DTCC or anyone else to save this country. All of these Institutions have already failed us. We would not be in this predicament if these Institutions were fighting for our rights instead of being in the hip pockets of the large Wall Street banks all these years.
We must take the responsibility ourselves. We are living in extraordinary times that require extraordinary actions by everyone. The future of America and our children’s future depend on our current action or inactions.
Six Changes We Must Demand Our Leaders Make
There are a minimum of six things we must demand that our leaders do. If they are unwilling to make these changes then we need to elect new leaders that will make these changes.
1.) Eliminate the control the large Wall Street Banks/Brokers have over the Federal Reserve and place the control back in the hands of the federal government like the forefathers intended.
2.) Stop the unlimited bank bailouts before it bankrupts America. We already gave them 8 trillion we cannot afford to give them anymore.
3.) Set up a Market Wide Clean Up Committee much like the 9/11 Committee. Give them free reign to investigate anyone they suspect of fraud, especially government employees, SEC regulators, DTCC officials, and bank/broker CEOs. Make investigating Naked Shorting the number one priority, starting with BCIT and CMKX. Anyone involved in Naked Shorting or involved in covering up Naked Shorting must receive harsh jail time.
4.) Eliminate the current SEC, which has proven time and time again to be nothing more then a complete disaster. Create a new SEC under the umbrella of the Department of Justice. Make the new SEC three times larger then the current SEC, so they have the manpower to properly police Wall Street. Fire most of the current SEC lawyers and replace them with criminal investigators who will not be afraid to go after the corruption within Wall Street.
5.) Eliminate the DTCC’s private structure and make them a Federal Institution. This would remove the conflict of interest currently within the DTCC.
6.) Make the SEC enforce the “Force Buy In” law. Right now there are hundreds if not thousands of dam aged companies, whose stock prices are trading at a fraction of what they should be because their share structures have been altered thanks to the creation of counterfeit shares. The Naked Shorters have created millions of counterfeit shares in these companies, which are now intermixed with the real shares.
Somehow all these counterfeit shares must be removed so these company’s share structures can return to normal. Enforcing the “Force Buy In” law will get rid of the counterfeit shares that are plaguing these companies. The stock prices of these companies will significantly rise once the counterfeit shares are removed. The cumulative effect of all these companies’ stock prices rising should cause a stock market correction that will hopefully give the economy a needed boost.
The only20thing preventing this is the SEC, which has refused to enforce this law, thereby protecting the brokers who would otherwise be forced to buy back all the counterfeit shares they created.
Conclusion
After reading this report I hope everyone now has a better understanding of the severe problems facing the American Economy.
I also hope everyone now realizes who were and continue to be the major villains involved in causing all the problems within the economy.
Finally, and most importantly, I hope everyone has a better idea of what changes need to be made to fix these problems. These problems must be solved so our children will grow up in the same America we grew up in.
It is so important that we pressure our leaders. Only through public pressure will we force our leaders to make the necessary changes that will turn America around.
You know America is severely screwed up when the brokers are allowed to counterfeit well over 350 million BCIT shares, the DTCC is allowed to abuse its power by preventing the stock from trading for well over three years, and the SEC and Congress refuse to intervene to help the shareholders. This is why it is so important that we let our leaders know that we are fed up and no longer will put up with such corruption!
Please help us fight the corruption by just forwarding this email report on to your family and friends and ask them to spend 20 minutes out of their day so they too can read this report.
For those wanting to help out even more I encourage you to send this report, along with your own personnel comments regarding the state of affairs America finds herself in,
to the media, to the President, your Attorney General, the SEC, the DTCC and any other appropriate public figures.
I thank everyone for taking the time out to read this rather lengthy email report. GOD BLESS YOU, YOUR FAMILY AND AMERICA IN THESE TOUGH TIMES!
Sincerely,
A very concerned American and a BCIT shareholder.
What the Bank Bailouts Mean To You!
From: cinsured@aol.com
Wed 1/21/09 11:11 PM
To: hubert@hgmandassociates.co.za; jwestbrook1@bloomberg.net; DR@dailyreckoning.com; 4justice@cmkmdiamondsinc.com; oiea@sec.gov; enforcement@sec.gov; oig@sec.gov; smallbussiness@sec.gov; cmkxmillionaires@yahoo.com; joerockss@hotmail.com; mpento@deltaga.com
The Destruction of the American Economy.
How the hell did this happen, who’s to blame, and how we can get America back on track.
For those American Taxpayers mad about the Wall Stree t Bailouts, mad about the free falling economy, mad that the unemployment rate is skyrocketing, mad at your depleted 401K portfolios, this is a must read email!!!
This email report will expose everything dirty about Wall Street and our Market Regulators. The crimes committed by the Wall Street Financial Banks/Brokers that lead to the Credit Crisis will be exposed. Crimes that our leaders in Washington and our Market Regulators are so desperately trying to hide from public view.
This report will detail all aspects of the Credit Crisis. You will learn that the Credit Crisis was caused by a combination of risky leveraged derivative bets, which are simply bank gambling debts and by the counterfeiting of stock securities, known as Naked Shorting. This report will detail20who participated in these actions, this report will Name Names!
You will learn why the bailout of the banks will ultimately cost American Taxpayers tens of trillions of dollars more then what our leaders are currently forecasting. You will learn what the devastating effects the bailouts will have on our future and our children’s future.
Finally, this report will outline a simple plan that will force the clean up of Wall Street, which should then help turn our economy around.
Who am I and how do I know all this? I am a shareholder of a small company called Bancorp International. Bancorp International, known as BCIT is a small start up company, which was on its way to building itself into a growing successful company, before it was viciously targeted and attacked. The story of BCIT will shock and anger most hard working Americans.
The BCIT and its shareholders are victims of an orchestrated criminal act called Naked Shorting. We have witnessed the horrors of Naked Shorting first hand.
Naked Shorting is a practice that the large Wall Street Financial Banks/Brokers used to rig the stock market for huge profits by counterfeiting the stock of targeted individ ual companies with the intent of bankrupting them. Yes counterfeiting of stock!!!
How big is Naked Shorting? Naked Shorting makes the Bernard Madoff scandal look like a small parking infraction, that’s how big Naked Shorting is!
The fact is the Naked Shorters have counterfeited stock in thousands of American companies over the past few years. The Naked Shorters have stolen trillions away from these companies and their shareholders. Hundreds of thousands of jobs were lost with the destruction of these companies, making Naked Shorting the largest act of Financial Terrorism ever inflicted on the American people.
Yet our own Market Regulators and Congressional leaders have done nothing to stop this. They have turned a blind eye to the plight of all these American companies and their shareholders. They have been well aware of Naked Shorting for years and refused to enforce the laws that would have stopped Naked Shorting. Now they even refuse to go after the criminals, who were involved in Naked Shorting.
The reason why our Market Regulators and Congress refuse to go after the Naked Shorters is because it is the large Wall Street Financial Bankers/Brokers doing the crime.
The evidence in this report will clearly show that in today’s America the large Wall Street Financial Bankers/Brokers are above the law. They hold all the power and are the puppet mast ers that really run the American Economy, while Congress, the SEC and the DTCC are just their puppets.
Note 1: The Security and Exchange Commission, the SEC, is the police force for Wall Street. Their top job is to protect the public.
Note 2: The Depository Trust Clearing Corporation, the DTCC’s is a private company whose job is to oversee the settlement of virtually all the trades in the United States Market. In other words, the DTCC’s main job is to make sure the brokers are delivering real shares and not counterfeit shares to the investment public.
Note 3: The Senate Committee on Banking, Housing, and Urban Affairs is a Congressional Committee responsible for overseeing the SEC, the Stock Market, and the Banks. They are the ultimate watchdogs of the Economy.
The SEC under the leadership of Chairmen Christopher Cox, the DTCC under the leadership of Donald F. Donahue and the Senate Committee on Banking, Housing, and Urban Affairs led by Republican Richard Shelby and Democrat Christopher Dodd all are guilty of betraying the American Public.
They all should be immediately fired and all should be investigated for fraud and possible kickbacks. Under their watch they allowed the large Wall Street Financial Banks/Brokers to destroy and pillage the American Economy. These individuals sat back and did noting while the financial elite counterfeited shares in thousands of companies like BCIT.
BCIT the Smoking Gun.
BCIT is the smoking gun. BCIT has undeniable proof that well over 350 million counterfeit shares of BCIT stock were created by the large banks/brokers. Furthermore, BCIT’s case shows that the SEC, the DTCC and Congress were all well aware of this and refused to do anything about it. The Naked Shorting criminals pocked well over 50 million dollars from the c ounterfeiting of BCIT stock alone.
After we provide our evidence, we hope you the American Public will begins to understand how broken our Economy really is and will help us spread the word about what is really happening within our economy.
All it takes is for one person to stand up to the injustices and say enough is enough followed by another, then another and soon a movement is born. We hope this report will start such a movement and that you will stand up with us.
We only ask that you forward this report on because this effects EVERY AMERICAN CITIZEN!
Only through public awareness and public pressure will we succeed in getting rid of the criminals that run Wall Street. Only through public awareness and public pressure will we be able to make the changes necessary to fix our Economy.
Without these changes our kids will inherit an America that is a shell of itself. An America with staggering higher taxes, a lower standard of living, and fewer job opportunities. Conversely the Wall Street rich and powerful will continue to get away with their criminal activates against their fellow Americans without any consequences. < o:p>
Two hundred years ago, our forefathers would have gathered up their guns and pitchforks and used them to run all of the Wall Street Financial Bankers/Brokers, Market Regulators and Congressional Leaders that caused the Credit Crisis out of town.
Today we do the exact opposite. Instead of punishing those who caused the Credit Crisis we bail them out. They destroyed our economy and we reward them by giving them trillions of dollars.
We must ch ange this. The day the large Wall Street Financial Banks/Brokers became greater than the law was the day that the American Economy’s fate was sealed.
We must make the large Wall Street Financial Banks/Brokers accountable for their actions. We must make our Congressional leaders and Market Regulators accountable for not doing their jobs. Accountability must mean firings and jail time for those involved in causing the Credit Crisis or nothing will ever change.
The Credit Crisis
The Credit Crisis is the reason our economy is now in a freefall. Without a Credit Crisis, America would not be knee deep in a recession right now.
The two major causes of the Credit Crisis were risky Leveraged Derivative Bets and Naked Shorting.
Credit Crisis Causes #1: Leveraged Derivative Betting
Derivatives are used by banks and other major businesses to hedge risk, make a market, or to engage in speculation.&nb sp; In other words, derivatives are basically big bets made with a tremendous amount of leverage. Derivative bets can be made on anything like stocks, bonds, currencies, commodities, the housing market, etc. The housing market was the bet of choice by many in Wall Street.
A typical Wall Street Bank/Broker with 1 billion dollars in hard assets was allowed to borrow 50 to 100 billion dollars and then wager that money on the derivative market. When the housing market was going up the Wall Street Banks were making billions on their leveraged bets. The more money they made the riskier bets they made. In good times the high leveraged bets resulted in insane year-end bonuses for all those employed at these Wall Street Banks/Brokers.
The music stopped when the housing market and other derivatives turned south.
What do you suppose happens to that 50 billion dollar housing market bet in a free falling housing market?
A twenty percent housing market downturn would result in a 10 billion dollar loss on the original 50 billion dollar housing market bet. How then does a bank cover a 10 billion dollar loss when the bank only has 1 billion dollars in real value? Can you say “Taxpayers Bailouts”!
Total of the Taxpayer Bailouts
So what is the total value of the combined bets Wall Street made on the derivative market?
If we know this we can quantify how big the total losses will be. This will tell us how much bailout money the banks and Wall Street will ultimately need.
< div class=MsoNormal style="MARGIN: 0in 0in 0pt; tab-stops: 365.85pt">World GDP is about 50 trillion dollars, which represents all of the world’s total hard assets. In 2001 the derivative market was also roughly 50 trillion dollars. This is economically sustainable because 50 trillion dollars of derivative bets were backed by 50 trillion dollars of real assets, an equal 1 to 1 ratio.
However, the derivative market went from 50 trillion in 2001 to a staggering 700 trillion by 2007, all because of leveraged borrowed money.
The ratio of GDP (50 trillion) to the derivative market (700 trillion) went from a realistic 1 to 1 ratio to an unsustainable 1 to 14 ratio all because of GREED from the likes of Goldman Sachs, Citigroup, Morgan Stanley, Bear Stearns, Lehman Brothers and many other.
They made 700 trillion dollars worth of bad bets back by nothing more than thin air. A pack of degenerate gamblers that literally bet the house on the housing market with money they didn’t have and now we the American Taxpayers will be forced to pay off their gambling debt for decades.
What were former FED Chairmen Allan Greenspan, President Bush and Congress doing while the banks were making their 700 trillion dollars worth of bad bets that now threaten to destroy us?
Incredibly our leaders decided that the banks needed no transparency and they were perfectly capable of self-regulating themselves.
The SEC, the police of Wall Street, with the insistence of former Commissioner Annett Nazareth, in 2004, went as far as removing an important regulation that limited the amount of money that investment banks could borrow. With this regulation removed the banks had no more borrowing restrictions. This paved the way for them to borrow unlimited amounts of money, which they used to make even riskier bets on the housing market and other derivatives. The SEC removal of this important regulation is the main reason the derivate market went from 50 trillion to 700 trillion dollars.
Total Bailout Cost
If we take the 700 trillion dollar derivate market, which is nothing more than 700 trillion dollar in bets and take a very conservative 10% drop in derivative prices (10% drop in housing market, commodities, stock market…etc) across the board, we are talking about 70 trillion dollars in betting losses by the large banks. If world GDP is roughly 50 trillion dollar then lets assume bank assets make up 20 trillion of the 50 trillion GDP figure.
The banks would then have 70 trillion in losses and only 20 trillion in hard assets to cover20these losses. This would leave the banks with 50 trillion dollars in losses beyond what they could cover themselves (70 trillion minus 20 trillion equals 50 trillion), or in other words they are in need of 50 trillion in taxpayer bailouts.
America are you beginning to realize how big of a catastrophe we are facing?
Now you know why each week the FED and Treasury keep raising the amount of bailout money they are paying out to the banks.
The FED as of today has pledged nearly 8 trillion dollars and the Treasury has pledged 700 billion dollars. This is just the start of the bailouts, we only have 41.3 trillion or so more to go.
The Impact of the Bailouts on the Future of America
Even before any of the bailouts started about half of our tax dollars were going towards paying just the interest, again this is only the interest on our national debt. Now with all the bailouts the national debt will explode in the coming years. Soon all of our tax dollars will go towards paying the interest on the national debt and still this might not be enough. This will leave no money for schools, roads, health care and national defense unless there are major tax increases.
There is no ways around the upcoming tax increases. It might not be this year or next year but very soon. In the years to come our taxes will sky rocket, maybe even double or triple. Our children will be forced to pay life altering higher taxes throughout their lifetime, all because of the sins of the large Wall Street Financial Banks/Brokers.
Believe it or not run away higher taxes is the best-case scenario in this Credit Crisis tragedy. If our leaders continue to allow the large Wall Street Financial Banks to dictate economic policy you will continue to see the banks getting more and more bailout money each month.
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Eventually the burden of the bailouts will be far too great for even the American Taxpayer to finance and this could easily lead America into bankruptcy. As shocking as this sounds it will be our reality if the bailouts continue. We simply cannot afford to bailout the banks to the tune of 40 to 50 trillion dollars.
Credit Crisis Causes #2: Naked Shorting
While Leveraged Derivative Betting was the primary cause of the Credit Crisis, Naked Shorting helped amplifi ed the Credit Crisis.
As mentioned above, Naked Shorting is the greatest crime against small and mid size American companies and shareholders in the history of the United States. Naked Shorting over the years has destroyed thousands of American companies, costing trillions of dollars in lost shareholder wealth and hundreds of thousands of lost jobs
The Naked Shorting game is played like this. A large Wall Street Broker targets a company. The brokers then start making big bets that the company’s stock price will go down.
This is called taking a short position, which is legal . Think of shorting as the opposite of buying a stock. When you short a stock, you only make money if the stock price goes down you lose money if it goes up. The further down the stock price goes the bigger the profits you make on your short bet.
Normally it’s up to a company’s performance and market conditions that decide whether or not a company’s stock price goes up or down.
Naked Shorting, which is very illegal, takes all of this out of the equation. Naked Shorting rigs the market so the targeted company’s stock price always drops regardless of any other factors.
How do the brokers manipulate the stock price? It’s the counterfeiting of stock that gives the brokers total control.
Note: We will discuss in a later section how the target companies can be completely unaware that the brokers are counterfeiting their stocks.
By the brokers adding a never-ending supply of counterfeit shares, the brokers eventually exceed any demand there is for the stock and the stock price drops. How far the stock price drops depends on how many shares the brokers are willing to counterfeit.
Naked Shorting always ensures the brokers have the winning hand.
In summary Naked Shorting is rather very simple, the brokers first target a company, then they place bets that the share price of that company will go down, then they illegally manipulate the share price down by counterfeiting shares, and then they collect the money on their winning short bet.
But wait it gets much worse
The ultimate goal for the Naked Shorters is not to just drive down a company share price, but the real goal is to bankrupt the company.
Bankruptcy is the tool the brokers use to hide the counterfeiting evidence. The millions or billions of extra counterfeit shares, suddenly disappears when the company declares bankruptcy. That’s because bankruptcy eliminates all stock shares, real or counterfeit, they all get wiped out.
The Making of Counterfeiting Shares
< SPAN style="mso-bidi-font-size: 11.0pt">When you buy (or short) a stock or even when a big buyer like a Hedge Fund buys (or shorts) a stock the process is the same. You give your broker real money and in exchange your broker is obligated to deliver real stock to you at an agreed upon price.
What people don’t realize is that when you make a stock purchase your broker first sends you an electronic marker to your trading account. YOU DON”T HAVE REAL STOCK YET!!!!!
The electronic marker looks and acts like real stock, people just naturally assume they own the real stock. This is understandable because the electronic marker looks authentic, only your broker, the DTCC, and SEC would know the difference.
Remember the DTCC, the Depository Trust Clearing Corporation is a private company whose job is to oversee the settlement of virtually all the trades in the United States Market. The DTCC’s main job is to make sure the brokers are delivering real shares and not counterfeit shares to their customers.
In reality the electronic marker is nothing more than an IOU from your broker, even though it says you bought X amount of stock at X share price at this time of the day.
The electronic marker confirms the stock amount and stock price of your business transaction between you and your broker but your broker still must go out into the market and retrieve the real stock at that agreed upon price and then deliver that real stock into your trading account.
Up to this point the broker’s actions are perfectly legal. The United States Settlement System gives the brokers 3 business days to go out into the market and purchase the real stock.
For the most part, honest brokers usually deliver real stock to your account close to the same time your electronic marker gets entered into your account. Only in unusual cases like in an extremely volatile market or with an extremely illiquid stock should it take up to three days for your broker to deliver the real stock to you.
But what if your broker has alternative motives? What if your broker wants to manipulate the company your buying stock from? What if your broker decides not to deliver real stock to you and never intends to? Then what happens?
All the electronic markers in your account, now become permanent counterfeit stock . There is no real stock attached to the electronic marker.
At some point you will likely sell the electronic markers, which at that point the electronic markets becomes counterfeit shares of stock.
And why not? You have no idea your holding counterfeit stock.
When the counterfeit stock is sold it goes back into the market for others to buy and sell. At this point the counterfeit stock and the real stock get mixed together and are indisting uishable from one another. Since the counterfeit shares get added in with the real shares the total number of shares of that stock increase with every counterfeit share created.
If the broker repeats this process over and over again with their other clients, it’s easy to see how millions if not billions of extra counterfeit shares can get mixed in with real shares and a company’s share structure can balloon out of control.
Now the company’s whose stock is being counterfeited as well as the company’s shareholder base has no idea this is occurring.
They have no idea that their stock is being diluted to hell and that is the reason the stock price is dropping like a rock. They only know for some unexplained reason the stock price is dropping fast.
Who are the brokers involved in Naked Short selling?
Overstock.com is another company battling Naked Shorting, in their lawsuit awaiting trial they charge the following large Wall Street Broker Institutions with Naked Shorting.
The firms are:
Goldman Sachs, Morgan Stanley, Bear Stearns, Bank of America, Bank of New York, Citigroup, Credit Suisse, Deutsche Bank, Merrill Lynch and UBS.
Many other companies have made similar accusations against these same large Wall Street Financial Institutions for Naked Shorting.
To date, no criminal charges have been brough t against these firms by the SEC. The SEC refuses to investigate the large Wall Street Financial Banks/Brokers for Naked Shorting.
The SEC ignored decades of evidence surrounding Bernard Madoff and his 50 billion dollar ponzi scheme. Likewise, the SEC has ignored a decade worth of evidence surrounding the over trillion-dollar Naked Shorting scheme. The SEC has ignored tens of thousands of letters from the American Public, letters from the Chamber of Commerce, letters from the Small Business Association over the years demanding they clean up Naked Shorting.
Apparently it seems inconsequential to the SEC that trillions of dollars of wealth has been stolen away from the American Public by the likes of: Goldman Sachs, Morgan Stanley, Bear Stearns, Bank of America, Bank of Ne w York, Citigroup, Credit Suisse, Deutsche Bank, Merrill Lynch and UBS (as indicated by the Overstock.com lawsuit)
How is this possible when even SEC Chairmen Cox after several years of denial, finally admitted that Naked Shorting is a big problem? The SEC admitted that Naked Shorting is a market wide problem, BCIT is living proof there is Naked Shorting, yet nobody is ever found guilty of doing it.
The BCIT Story
The SEC and the DTCC continue to downplay Naked Shorting to the public but then how do they explain BCIT. The truth is they can’t and that is why they are desperately trying to kill BCIT by preventing them from trading again.
If BCIT were to trade again, this would expose to the world that the brokers counterfeited 350 million shares of BCIT stock. More importantly it would expose the roles the SEC and the DTCC played in covering up this counterfeiting crime. The evidence shows that for three years they knew all about the counterfeiting of BCIT shares by the brokers. BCIT has detailed the counterfeiting of shares in their company’s filings for years and yet the SEC still does nothing.
Even today, in the year 2009, with all the promise of changes and cleanups they are still doing everything in their powers to hide the evidence that 350 million shares of BCIT stock was counterfeited at the expense of 1500 damaged shareholders.
The brokers20started Naked Shorting BCIT in the summer of 2005. BCIT however, is fighting back, thanks to a heroic CEO named Thomas Megas and a relentless shareholder group.
Thomas Megas above all else is a man of honor and values. A man that has spent nearly a million dollars of his own money fighting for his company’s survival and fighting for the rights of his damaged shareholders.
Flanked at Mr. Megas side is the BCIT shareholders.
The shareholders will never stop fighting for what is right. They will never give up trying to get back their stolen money.
They will never stop trying to expose the SEC and DTCC, for their roles in covered up the broker’s crimes.
The BCIT evidence that the Bankers/Broker, DTCC, and SEC want to keep secret.
A brief history of BCIT events:
Ø In the spring of 2005 there was 4,750,000 shares of BCIT stock.
Ø The company share price dropped more then 90% in the spring of 2005.
Ø In the summer of 2005 the CEO, Thomas Megas alerted the SEC and the DTCC that there seemed to be a problem with the trading of his company stock. There were way to many shares being traded on a daily bases. Considering the stock only has 4,750,000 tradable shares in the market and on some days BCIT traded well over 100,000,000 shares.
Ø In August 2005 the company issued a press release reaffirming that they only issued 4,750,000 tradable shares and there was definite manipulation going on with the stock. The press release was a cry for help by the company to the regulators, hoping that this would force them to wake up and investigate the company’s price drop and the never-ending supply of shares being traded.
Ø The regulators reaction to BCIT press release had the opposite effect. Instead of the regulator going after the brokers, for count erfeiting millions of shares, they did the complete opposite and went after BCIT.
Ø The DTCC placed a global freeze on BCIT starting in August 2005. The global freeze still remains today, three long years later.
Ø A global freeze is a suspension of DTCC services, without DTCC services the brokers won’t trade the stock.
Ø A global freeze is only supposed to be a temporary event. Any share imbalance should be immediately investigated and rectified by the DTCC. That is what is supposed to happen, unfortunately for BCIT and BCIT shareholders the DTCC seems to be able to break their own rules to serve their own agenda.
Ø In the BCIT case the DTCC is using the global freeze as a means to keep BCIT from trading.
Why would the DTCC not want BCIT to trade?
Ø Thomas Megas the CEO proved through his own investigation, that at a minimum there are 350 million counterfeit shares in BCIT.
Ø The only way that many counterfeit shares are sold to the public is if the DTCC is woefully negligent or part of the fraud.
Ø If the DTCC were to follow the laws in place they would have to rectify the share imbalance in BCIT prior to or immediately at the start of BCIT trading by following these rules:
1.) The DTCC would have to admit to the public that under their watch the brokers counterfeited a minimum 350 million shares of BCIT stock.
2.) The brokers would then be forced to return the millions of dollars they stole from the BCIT shareholders.
3.) The public might finally realize that the counterfeiting that took place with BCIT is not an isolated incident but actually a common occurrence that has happened to over a thousands other companies.< /SPAN>
All the things BCIT has done to try to get the global freeze lifted.
Ø It doesn’t seem to matter to the DTCC and the SEC that over the last three years, BCIT has filed 35 separate filings with the SEC, filed 16 filings with the Nevada Secretary of State, 2 separate protracted lawsuits in Oklahoma, 1 lawsuit in Arizona, purchased two new CUSIP numbers, and filed form 15c211 all in an=2 0effort to lift the global freeze.
Ø BCIT has satisfied every regulatory requirement with the Nevada Secretary of State, the SEC, and the Financial Industry Regulatory Authority (FINRA), but BCIT is still blocked from trading.
Ø Everything that BCIT has done is twice the amount of filings and requirements that any other company has been asked to do to maintain their trading status, yet the DTCC still keeps BCIT under a global freeze.
Exposing the DTCC
Ø The DTCC is not a federal agency but a multi billion dollar private corporation, which somehow been given the power to oversee the clearing and settlement of virtually all equity trades in the United States.
Ø Most private companies have a Board of Directors in which the company’s executives answer to. The private DTCC is no different, they too have a Board of Directors in which their company executives answer to.
Ø The big problem with the DTCC is who is allowed to sit on the DTCC Board of Directors.
Ø How is the DTCC supposed to objectively oversee broker trading when many of the DTCC Board of Directors members work for the same large Wall Street Brokers they are set up to oversee?
Ø The conflict of interest inside the DTCC is truly alarming.
Ø As mentioned above, the Institutions involved in Naked Shorting as outlined in the Overstock.com lawsuit are: Goldman Sachs, Morgan Stanley, Bear Stearns, Bank of America, Bank of New York, Citigroup, Credit Suisse, Deutsche Bank, Merrill Lynch and UBS.
Ø Now look who sits on the DTCC Board of Directors:
o Mark Alexander
Managing Director - Global Markets, Merrill Lynch
o Art Certosimo
Executive Vice President, Bank of New York
o Randolph L. Cowen
Chief Information Officer, Goldman Sachs
o Neeraj Sahai
Senior Managing Director, Citi Markets & Banking
o Michele Trogni
Global Head of Operations, UBS AG
Ø It should now make perfect sense to anyone with half a brain, who the DTCC is protecting and why they are hell bent on preventing BCIT from trading.
How many counterfeit shares are there in BCIT?
Ø We know it’s well over 350 million. The only reason we know this is because of BCIT own investigation. The SEC did nothing for BCIT when it came to Naked Shorting, they refused to investigate the counterfeiting of shares in BCIT.
Ø In the spring of 2008, BCIT management issued a proxy vote. A proxy vote is where all the shareholders are allowed to vote on upcoming company actions.
Ø In a proxy vote each known share is counted and weighted equally. So if company X issued 1000 shares total, and all the shareholders voted, the total vote count should equal 1000 shares.
Ø Now if a company stock contained Naked Shorted shares, the evidence would be seen in the vote count. All votes exceeding the 1000 number would indicate the number of shares that wer e counterfeited and mixed in with the real stock.
Ø With a typical proxy vote its up to the brokers to send out the voting material to their clients. The broker must send out the material well enough in advance to insure their clients have plenty of time to review the voting material and then have enough time to cast their vote prior to the voting cut off date.
Ø With BCIT proxy voting, almost 50% of the shareholder did not receive their proxy material in time to vote. It seemed that many brokers conveniently did not send it out in time.
Ø Still with little more then 50% of the BCIT shareholders participating in the proxy vote, the amount of votes above the amount of shares BCIT issued, was roughly 350 million votes. Which indicated at a minimum 350 million counterfeit shares in BCIT and this is with just slightly more the 50% of the shareholder base voting.
Ø Imagine if all the shareholders were allowed to vote the real amount of counterfeit shares is likely closer to 600-700 million shares.
Ø Regardless, even with a known 350 million counterfeit shares and taking a conservative price of 15 cents a share (the last trading price of BCIT), the amount of money stolen by the brokers is 52.5 million dollars (15 cents * 350 million). Again, this is with a conservative 15 cent stock price. BCIT most likely would be trading at several dollars if it weren’t for all the counterfeit sh ares diluting the share price down to 15 cents.
Blackmail
Ø In an October 2008 meeting between BCIT and the DTCC, the DTCC finally gave BCIT an ultimatum after years of giving BCIT management false promises about lifting the Global Trading Freeze.
Ø BCIT management was told if they ever wanted the Global Trading Freeze lifted they first had to issue enough new shares to cover all the existing Naked Shorted shares the brokers created out of thin air.
Ø Issuing new company shares would essentially allow the brokers to cover up all of BCIT shares they counterfeited.
Ø This would also allow the brokers to keep all of the money they stolen from the BCIT shareholders without penalty. Furthermore, all the extra shares would severely dilute the share structure and cause even further damage to the stock price.
Ø < /SPAN>This is nothing more then BLACKMAIL by the DTCC. There are no other words to describe it.
Ø How the SEC and Congress continue to allow the DTCC to blackmail BCIT is beyond comprehension.
Ø Anthony Carlis le, Isaac Montal, Larry Thompson are three officials at the DTCC who are directly involved with the BCIT case. How they can allow the brokers to sell 350 million counterfeit air shares to innocent BCIT shareholders and then later block BCIT from trading which further injures the BCIT shareholders is beyond comprehension.
Ø I just hope that their families and friends get sent this email, so one day they will understand what these men have done to the BCIT shareholders.
The suffering BCIT shareholders
BCIT shareholders have had well over 50 million dollars stolen from them and unless, BCIT trades again, that money will be forever lost, and the brokers will forever keep that money.
The majority of BCIT shareholders are not wealthy. On the contrary we are struggling everyday middle of the road Americans who made an investment. An investment taken away from us, not because of any fault of our own, or any fault of the company we invested in, but because of a corrupt Wall Street System. So corrupt that blatant robbery of its citizens falls on deft ears.
We never envisioned that any of this could ever be remotely possible in a great country like America. Sadly, for our sake and our families’ sake we were terribly wrong.
Like many Americans, many BCIT investors are now facing tough times with the current economy:
Ø Some have lost their jobs and need their BCIT money just to keep them from losing their homes.
Ø Some were planning on using their BCIT money to pay for their kid’s college education.
Ø Some need the money to pay their medical bills.
The BCIT shareholders desperately need BCIT to trade again; they need to get their money back now.
They have waited three long years for justice; they should not have to wait one minute longer. What are all the politicians and regulators doing while this injustice is blatantly happening to the BCIT shareholders? Are there no good guys left in Washington?
How is all of this possible?
How is it that the financial elite, the l ikes of Goldman Sachs, Citigroup, Morgan Stanley and others were allowed to destroy the greatest economy the world has ever known by making bad bets they couldn’t cover and by rigging the market by counterfeiting stocks securities?
How is it the banking leaders single handily brought the American Economy to her knees and yet we are the ones forced to pay for their mistakes in taxpayer bailouts?
How is it possible that those receiving bailout money refuse to tell the American Public what they are spending the bailout money on and our leaders go along with this?
How is it possible that not one high ranking bank executive is being investigated for Naked Shorting crimes?
How is it that the SEC is still allowed to operate under its current structure and leadership still allowed to operate?
How is it possible that the DTCC, whose job is to oversee broker trading, seats those same brokers on its Board of Directors?
How is it possi ble that Congress ignored thousands of letters from damaged shareholders victimized by Naked Shorting?
How is it possible that an innocent company like BCIT gets sold over 350 million counterfeit shares, its 1500 shareholders robbed of over 50 million dollars, and yet the market regulators instead of trying to help these shareholders attempt to destroy the company by blocking it from trading for more then three years when they have done nothing wrong?
How is it possible that shareholders of another company called CMKX have not received any closure from the SEC after several years of investigation into CMKX? The CMKX shareholders are victims of the biggest fraud in the history of the stock market. A staggering 635 billion CMKX shares were illegally issued, which is twice the amount of shares the DOW trades in a year. Yet it is still unclear several years later if the 635 billio n shares were due to insiders illegally dumping these shares or due to the brokers illegally counterfeiting these shares. CMKX lawyer Bill Frizzell stated in a public email years ago that he believed there were well over a whopping 2 trillion Naked Shorted shares in CMKX. Either way, incredibly after several years, nobody has received any jail time for this monumental fraud that took place in CMKX. If it was the company insiders illegally dumping shares then why hasn’t CEO Urban Casavant and one time prominent company official and ex SEC lawyer Rodger Glenn been charged with fraud? Likewise, if it was due to Naked Shorting then why hasn’t one brokers been charged with any counterfeiting crimes? How is it possible that 40,000 CMKX shareholders have been damaged yet once again nobody seems guilty?
How is all this corruption by the large Wall Street Banks/Brokers possible? The answer is a simple one. The large Wall Street Banks/Brokers control the American Economy and therefore can do what ever they want to whom ever they want.
It is the large Wall Street Banks/Brokers that influence all the major economic decisions behind the scenes. That is why the Credit Crisis happened. That is why the banks continue to receive unlimited bailout money from the taxpayers month after month with no questions asked. That is why Naked Shorting was allowed to happen and is currently being covered up.
Unless the banks power and influence over the economy is reduced the American People will continue to suffer. Over the next few years you will hear from many politicians claiming great changes are being made, but in reality these changes will be nothing more than window dressing.
Our economic foundation is flawed because too much power has been given to the banks and it is dooming the American Economy.
We are no longer America for the people by the people we are America for the banks by the banks. The large Wall Street Financial Banks/Brokers have too much power over the SEC, the DTCC, Congress and even the US Treasury. However, it’s the Federal Reserve (FED) that gives the large Wall Street Banks/Brokers their enormous power.
=0 A
The Federal Reserve
The FED is the ultimate puppet master. The FED has more power then the President, Congress, and even the Treasury when it comes to the economy. The FED controls the nations money supply, which gives them tremendous power. It also gives them the power to make the rules or break the rules
In 1790 Mayer Amschel Rothschild, perfectly summarized the type of power the FED has when he said, "Let me issue and control a nation's money and I care not who writes the laws."
The problem with all of this is that the FED is owned and controlled, not by the United States Government like many Americans incorrectly assume, but rather by the large Wall Street Banks/Brokers. This makes the large banks the true kings of the economy.
The FED was created in 1913 by the large influential bankers of the time. The bankers created the FED with one purpose in mind. The bankers wanted to create a system where the large Wall Street Financial Banks reaped all the benefits in good times, by controlling and manipulating the money supply, and took on none of the risks in bad times.
They created a system where the American Taxpayers would be the backstop to the large banks in tough times. The only problem was they needed a new way to tax the American People. Hence, not coincidently the Federal Income Tax law was also created in 1913.
Now we are seeing all of this play out in our time.
The question now becomes how far will the FED go with the bailouts? If the predictions made here are correct, will the FED give the banks up to 50 trillion dollars in bailout money for all of their gambling debts, even if it means the American Public will suffer severely for it.
0A
The answer is a resounding yes! As mentioned the main reasons the bankers created the FED was for this exact type of scenario playing out now.
The Federal Reserve is a private central bank that is owned and controlled by it shareholders. The FED allegiances are with its shareholders and not the Government nor the American People. The shareholders of the FED are several of the large Wall Street Financial Banks/Brokers.
Now you know why the large Wall Street Banks are getting unlimited bailouts and why crimes they commit are not being investigated. There is zero transparency on what assets t he FED is buying from the banks. There is zero transparency on what the banks are using their bailout money on. Why the FED’s books has never been audited since its creation, a span of 96 years.
Our forefathers warned about the evils of having a private central bank and fought against it up until 1913 when the bankers successfully won out and created the Federal Reserve.
Thomas Jefferson has this to say about a private central bank controlling the money supply (in a letter to the Secretary of the Treasury Albert Gallatin): “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations20that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
President Abraham Lincoln also warned about the dangers of private central banks: "The money power preys upon the nation in time of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. I see in the near future a crisis approaching that unnerves me, and causes me to tremble for the safety of our country. Corporations have been enthroned, an era of corruption will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people, until the wealth is aggregated in a few hands, and the republic is destroyed."
Both Jefferson and Lincoln were proph etic. They predicted what we are witnessing now and what would happen eventually over time if the private banks controlled our Country’s money supply.
Fixing the Economic Mess and Turing America Around
There is still hope but we need to act fast and make the appropriate changes. If we do nothing Thomas Jefferson’s and Abraham Lincoln’s dire warnings will become reality. We will have no explanation for our kids why, on our watch, we allowed the greatest economic power the world has ever known, to be decimated because we stood by and did nothing.
It is so vital that we, the American People, as a nation stand together. That we no longer put up with the corruption, favoritism, greed, zero accountability, zero transparency, and bottomless bailouts of the banks.
We cannot rely on the Congress, Treasury, FED, the SEC, the DTCC or anyone else to save this country. All of these Institutions have already failed us. We would not be in this predicament if these Institutions were fighting for our rights instead of being in the hip pockets of the large Wall Street banks all these years.
We must take the responsibility ourselves. We are living in extraordinary times that require extraordinary actions by everyone. The future of America and our children’s future depend on our current action or inactions.
Six Changes We Must Demand Our Leaders Make
There are a minimum of six things we must demand that our leaders do. If they are unwilling to make these changes then we need to elect new leaders that will make these changes.
1.) Eliminate the control the large Wall Street Banks/Brokers have over the Federal Reserve and place the control back in the hands of the federal government like the forefathers intended.
2.) Stop the unlimited bank bailouts before it bankrupts America. We already gave them 8 trillion we cannot afford to give them anymore.
3.) Set up a Market Wide Clean Up Committee much like the 9/11 Committee. Give them free reign to investigate anyone they suspect of fraud, especially government employees, SEC regulators, DTCC officials, and bank/broker CEOs. Make investigating Naked Shorting the number one priority, starting with BCIT and CMKX. Anyone involved in Naked Shorting or involved in covering up Naked Shorting must receive harsh jail time.
4.) Eliminate the current SEC, which has proven time and time again to be nothing more then a complete disaster. Create a new SEC under the umbrella of the Department of Justice. Make the new SEC three times larger then the current SEC, so they have the manpower to properly police Wall Street. Fire most of the current SEC lawyers and replace them with criminal investigators who will not be afraid to go after the corruption within Wall Street.
5.) Eliminate the DTCC’s private structure and make them a Federal Institution. This would remove the conflict of interest currently within the DTCC.
6.) Make the SEC enforce the “Force Buy In” law. Right now there are hundreds if not thousands of dam aged companies, whose stock prices are trading at a fraction of what they should be because their share structures have been altered thanks to the creation of counterfeit shares. The Naked Shorters have created millions of counterfeit shares in these companies, which are now intermixed with the real shares.
Somehow all these counterfeit shares must be removed so these company’s share structures can return to normal. Enforcing the “Force Buy In” law will get rid of the counterfeit shares that are plaguing these companies. The stock prices of these companies will significantly rise once the counterfeit shares are removed. The cumulative effect of all these companies’ stock prices rising should cause a stock market correction that will hopefully give the economy a needed boost.
The only20thing preventing this is the SEC, which has refused to enforce this law, thereby protecting the brokers who would otherwise be forced to buy back all the counterfeit shares they created.
Conclusion
After reading this report I hope everyone now has a better understanding of the severe problems facing the American Economy.
I also hope everyone now realizes who were and continue to be the major villains involved in causing all the problems within the economy.
Finally, and most importantly, I hope everyone has a better idea of what changes need to be made to fix these problems. These problems must be solved so our children will grow up in the same America we grew up in.
It is so important that we pressure our leaders. Only through public pressure will we force our leaders to make the necessary changes that will turn America around.
You know America is severely screwed up when the brokers are allowed to counterfeit well over 350 million BCIT shares, the DTCC is allowed to abuse its power by preventing the stock from trading for well over three years, and the SEC and Congress refuse to intervene to help the shareholders. This is why it is so important that we let our leaders know that we are fed up and no longer will put up with such corruption!
Please help us fight the corruption by just forwarding this email report on to your family and friends and ask them to spend 20 minutes out of their day so they too can read this report.
For those wanting to help out even more I encourage you to send this report, along with your own personnel comments regarding the state of affairs America finds herself in,
to the media, to the President, your Attorney General, the SEC, the DTCC and any other appropriate public figures.
I thank everyone for taking the time out to read this rather lengthy email report. GOD BLESS YOU, YOUR FAMILY AND AMERICA IN THESE TOUGH TIMES!
Sincerely,
A very concerned American and a BCIT shareholder.
