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Commentary - Jun 7, 2004 - Printable Version
- StockGate: A Call To Arms
by Mark Faulk
An Open Letter To All Those Concerned: To The Perpetrators:
To the short sellers and those who control the offshore financial institutions: You are destroying your own country. As with any scam in which the victims are nameless and faceless, it is much easier to rob them blind when you don't have to look your victims in the eye. However, this is the truth: the Grandmother or Grandfather whose life savings you have wiped out by using fraud and manipulation to destroy the stock market could be your Grandparents. The hardworking employees who have lost their jobs because you forced their company into bankruptcy could be your sons, daughters, or your best friends. The company that is forced out of business because of your greed and dishonesty could be developing the cure to a disease that you might someday die from. Good riddance.
You are traitors to your country, no better than Benedict Arnold or those who cause the loss of lives by selling national secrets. The wheels of justice might turn excruciatingly slow, but they are turning as we speak. In the end, you will be paraded in the town squares as the traitors and common criminals that you are. You will have to face those whose lives you have ruined, look your victims in the eye, and explain yourselves.
To the companies that have taken advantage of the same loopholes to defraud their own shareholders: You are the worst type of criminal, the kind that robs the very people who have placed their trust in you. There are many honest companies out there trying to make our country a better place, and you are giving them all a bad name, and providing ammo to those who would paint all small companies with the same brush. You too will have to answer for your despicable crimes.
And to the foreign exchanges who are complicit in this scandal: You have taken part in the defrauding of America and Americans, and in the end, you will pay dearly. Enough said.
To The NASD, The Brokers and MMs, and the DTCC:
You are the true villains in this scandal. When I wrote about this scheme to defraud our country and called it "Financial Terrorism In America", make no mistake, you are the terrorists I was referring to. While it's true that the short sellers and offshore lending institutions might be flying the planes, you are providing the weapons of mass destruction that are ruining American lives.
To the DTCC: to say that you are "following the rules" does not exonerate you. You made those rules yourselves, and filled them full of loopholes large enough to drive a Brinks truck through. Loopholes that allow counterfeit electronic shares to be created out of thin air, and then used to destroy stockholders and the companies that they invest in. And sadly, that is exactly what has happened time and time again, unchecked and unabated for years. Shame on you.
To The SEC:
Why did you sit idly by while this scandal continued year after year? Why have the rules which could have put an end to this pillaging of America's wealth taken years to implement? When will you, as the so-called protector of the American investor, finally have the nerve to stand up and say "Enough!"? If you continue to sit on the sidelines while the financial markets are brought to ruin, then you are as guilty as those who actually committed the crimes. Do the right thing, and do it now!
To The Paid Bashers:
You are the footsoldiers in this scandal. While your bosses are making the big haul by shorting the stocks that you are paid to bash, you are holding the innocent at gunpoint. While those at the top make millions in this scam, you are paid chump change, but when the house of cards collapses (and that time is nearing), you will share a cell with those who masterminded the entire scheme. Is it worth the price you will soon pay just to make a few dollars stealing from your family, friends, and neighbors? And even worse, you hear the desperation and feel the pain of those who you help destroy every day, and you mock them. How can you sleep at night?
To Raging Bull:
You are the Napster of this scandal. Although you may feign innocence by saying that you simply provide a forum for discussion about OTC stocks, and that you have no control over the content, that is simply bull (no pun intended). By allowing the systematic unsubstantiated bashing of every small company in America to continue unchecked for years, you are a party to this scandal as well.
Who are you, anyway? I have received information from a number of sources who claim that you are actually owned by a group of investors who have profited from this scandal. If in fact that is true, then you, too, deserve to be held accountable for your actions. Even if it isn't, the fact that you are providing a forum for those who will destroy our markets makes you an accomplice to this travesty.
To The Victims:
To the shareholders who have been robbed blind.
Speak out! Distribute articles like this one, and others that have been written about this scandal, to all corners of the Earth. Inundate Raging Bull, Yahoo, and the other stock message boards with the truth. Send these articles to other news sources and ask them to link them, or to write stories about this in their publications. Educate everyone.
I have received dozens of calls and emails about this issue, and a few brave souls have put themselves in the line of fire time and again to expose this fraud. Join them! If you have information that will aid in the fight, send it to me. I will be your mouthpiece. Call your congressman, call or email the SEC. Sign the petition at www.investigatethesec.com . Join together with other stockholders and demand that your brokers deliver your stock certificates to you. If they refuse, report them to the SEC (and again, email the information to me). Empower yourselves. Spread the word! You will have your day.
To the companies that have been robbed blind:
Speak out! Enough is enough. Contact your stockholders, band together, and call in your shares. If you demand that all shares be delivered, this will expose the crooks. If you have a contract with an offshore lender who is naked shorting your company into oblivion, sue them and refuse to give them any more shares.
Issue press releases exposing the fraud against you. Contact the press and tell them your story. Contact The Faulking Truth and tell us your story. Reprint articles about this issue on your websites, release them through your media outlets. Only by shining a light on this scandal will the public ever see it clearly.
There are hundreds of other companies just like you out there, join together with them and form a coalition to fight those who are defrauding you and your shareholders. Contact the SEC, as a group, and demand that they close the loopholes that allow this fraud to continue immediately, and that they take the necessary steps to repair the damage that has already been done. Demand that they force the Money Makers, brokers, and the DTCC to reveal how many trades are never settled, and in essence, how many counterfeit shares have been electronically created. What would happen if several hundred companies got together and demanded to be removed from the DTCC trading system altogether? I'd like to find out. Join one of the class action suits that have been filed, or file your own suit. Contact your congressmen. Contact Elliot Spitzer, the New York State Attorney General.
Many of you have spoken out against this fraud, but many more of you have remained on the sidelines. This is a battle for your very survival. If you don't join the fight, you have lost the war without firing a shot.
Fire the next shot, and don't stop firing until this scandal has been stopped dead in it's tracks. That, more than ever, is the faulking truth.
Email this article to anyone who will listen:
"StockGate: A Call To Arms"
http://www.faulkingtruth.com/article/?Commentary&1006
Editor's note: If you would like to help us spread the word about this scandal, send us an email at info@faulkingtruth.com , asking to be added to our "Stockgate activist list". We will email you only when we have new articles dealing with this issue. Please link the articles everywhere you can, post them on stock message boards, and send them to the appropriate public entites. To enact positive change requires positive action.
This commentary is the opinion of the writer, based on information currently available. Future events may or may not change those opinions. That's not likely, but anything is possible.
Other articles on the stock market scandal:
"The Berlin Connection?"
www.faulkingtruth.com/article/?Investing101&1004
"Financial Terorism In America"
www.faulkingtruth.com/article/?Investing101&1001
"Is Canada Robbing America Blind?"
www.faulkingtruth.com/article/?Commentary&1001
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