Saturday, May 7, 2011

The Double Scam and the Texas Bank Robbery



We've heard of double dipping but a double scam is something rather new. I'm not talking about a card trick. I'm talking about a stock swindle. We've talked about the Bush family's involvement with oil fraud.

Donors would invest in the fake oil field. They would be paid half their investment in the limited partnerships before they became insolvent. They got to write off the other half of their investment on a 2:1 leverage basis, which was perfectly legal under the lax laws at the time. The net effect was that they came out whole on an after tax basis.

That scam defrauded the American people out of tax revenue because the investors wrote off the loss in their fake company which meant a reduction in tax revenue to the government which had to be recovered from the average citizen.

The double scam is the same thing twice over. Al Martin used the following example: "I will use MCorp as an example, wherein a corporate artifice could be formed by Jeb Bush, let's say. Money could be borrowed from MCorp. The money would then be used to short (sell short, in other words) MCorp's stock. When the stock plummeted, the shares would be bought back at a large profit, and the original load itself would be defaulted on through the marginal, corporate entity that originally borrowed it, which most likely existed nowhere except in an attorney's file cabinet." (The Conspirators page 100)

I'm not sure I understand the selling short thing but I do understand defaulting on a bank loan through a fake corporation. BTW "In March 1989, when MCorp failed, is was the 36th largest banking entity in the United States. As the second largest banking entity in Texas, MCorp consisted of 25 banks, 86 banking offices, and 1 trust company, all located in Texas. The company had assets of $18 billion, and it's common stock was listed on the New York Stock Exchange M. MCorp had a reputation as one of the most progressive banking entities, in terms of both technology and personnel."

"MCorp suffered two straight years of quarterly operating losses beginning with the fourth quarter of 1986. The losses stemmed primarily from an increasing amount of nonperforming assets and loan charge-offs. The oil industry in Texas and the Southwest had collapsed."

They lost their money due to scams. It wasn't that the oil market dried up, It was the oil fraud that milked them dry. The test run for the big one was in 1989 when the government dished out $2 billion for MCorp alone.

Al Martin claims that there were three major Texas lending institutions which were very prominent in the Iran-Contra fraud and were, in fact, taken down by the fraud.These were Texas American Bancshares, then chaired by Bobby Corson, Allied Bancshares of Texas, then chaired by the infamous Walter Mischer, and thirdly, MCorp. (page 99)

These were the three largest savings and loans and/or chimerical banks in Texas in the mid-1980's. The combined losses in these institutions totaled some $5 billion. By 1988-8, these banks were, in fact, insolvent.

Mischer and Corson were later investigated by various Congressional committees as to the nature of unrepaid Iran-Contra loans. In some cases, these were some of the few groups of institutions where the CIA was directly involved.

In fact, by 1989, it was determined that the CIA had borrowed for illegal, covert operations some $350 million from these three intuitions. It also failed to repay that amount. These banks were involved principally in fraudulent Iran-Contra related profiteering - realm estate loans, oil and gas ventures, illegal securities transactions, ect.

Al Martin gives another specific example of the double fraud. One that he claims he himself did under the direction of Jeb Bush.

"What I did (as a matter of fact, Jeb Bush introduced me to the loan with certain provisios about where parts of the proceeds were to go later on ) is that I formed a separate shell known as Mar-Tech Industries. I borrowed $85,000 from MCorp through Dean Witter. Through the account that Mar-Tech controlled at Dean Witter, I was able to short 10,000 shares of MCorp preferred at varying prices between $8 and $8.50."

"Within three or four months, M-Corp preferred shares had fallen in value to $3. I then covered my 10,000m shares between $3 and $3.50 a share making approximately $50,000 profit. I then proceeded to dissolve Mar-Tech and defaulted on the original $85,000 loan, after having made two interest payments."

"I now has $135,000 in total profits, as you loosely describe $85,000 illicitly obtained from a fraudulent bank loan, or a bank loan that I obtained under fraudulent circumstances, plus $50,000 garnered through the short sale of said stock, essentially using the bank's own money to short the stock and then defaulting on the loan. Others did this in much larger quantity than I ever did." (page 101)

I'm not reposting this information to teach people how to scam the banks. I'm reposting it so the banks will see how they were scammed and that the Bush family were directly involved in all this which makes George Bush's visit to Surrey very problematic indeed. We do not want him to defraud our banks like he did in Texas.

Not that stock scams are anything new to Vancouver. In fact that is the reason we don't have a stock market any more. 60 Minutes did a special on the numerous fake companies that would rise on hype then crash when the directors took off to Florida for the summer only to come back in 6 months to do it all over again. This kind of investment fraud destabilizes the market, our economy and destroys hard earned pensions which is absolutely not acceptable.

Bailing out the banks after they have been defrauded is another example of the double scam. First they steal from the bank, then they steal from the tax payers. These are the real criminals. They are the real enemies of the state.



It appears they did the same thing in Denver. Neil Bush was on the Board of Directors for Silvderado Savings and Loan. That collapse cost tax payers $1 billion. Another report claims it was more like $1.4 trillion. Federal regulators accused Bush of conflict of interest. He was never charged criminally but he was sued. They settled out of court for $26.5 million and had a republican fundraiser to help Neil cover his portion of the costs.

Get this, the S&L crash was a result of puring money into Neil oil fraud called JNB Exploration. Over a period of five years JNB drilled over 25 wells in four States and didn't find a drop of oil. Neil started the company with two former coworkers who made Neil president. That's when Neil became a director of Silverado Savings and Loan and approved loans over a million dollars for his two partners. Somewhat conflicted indeed. Neil Bush helped cause Silverado to crash and get a huge bail out while he kept getting huge salary increases along the way.

Don't forger George Bush's oil fraud culminated in Harkern Energy. In 1990 George Bush sold of a large block of shares in that company right before the company reported a larger than expected loss for the previous quarter which trigger a substantial drop in the value of the stock. Bush was accused of insider trading.

Before Harken Energy the company was called Arbusto Energy and defrauded the bin Laden Family just like Sarkozy defrauded Gaddafi. It was revealed that Jim Bath made a $50,000 investment in Arbusto on behalf of Salem bin Ladden, Osama's brother who later died in an ultralight accident in Texas. However, Bill White claims the court documents revealed that the $25,000 dollar investment in 1979 and the $25,000 investment in 1980 was just Bath's commission and that the Saudis had actually invested over a million dollars.

Bush later got $25 million from Osama's brother in law for another oil company. White claims the Saudis would give brief cases of cash to the lawyers who would in turn put the money in Bush Sr.'s campaign fund. They got around the law banning foreign political contributions by giving the money to lawyers which was then protected by lawyer client privilege. Well kinda.

Don't forget that all these banking scams were made possiible because the banks were deregulated. The Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) had phased out a number of restrictions on banks' financial practices, broadened their lending powers, and raised the deposit insurance limit from $40,000 to $100,000 (raising the problem of moral hazard). Banks rushed into real estate lending, speculative lending, and other ventures.

In July 1982, Congress enacted the Garn–St. Germain Depository Institutions Act of 1982 (Garn–St. Germain), which further deregulated banks as well as deregulating savings and loans. First they deregulated the banks, then they defrauded the banks and bailed them out with tax dollars. That is a double scam alright.

Yet the banks benefitted too. Removing restrictions on interest charges Canadian mortgage interest rates increased from a low of 10.31% in August of 1978 to a high of 21.46% in September of 1981 which doubled a family’s monthly mortgage payments and caused many foreclosures. Mortgage rates have since subsided but credit card rates haven’t despite such a drastic drop in the prime lending rate.

Investment Fraud



Before I return to my primary focus which is the Hells Angels violent control of the drug trade in East Van, Prince George and in Surrey, I'm going to expand slightly on the matters of investment fraud and illegal arms deals just because I can.

I think investment fraud is significant because it affects so many people. People lose their life savings. Destabilizing the market destroys pensions which are sacred. When people work hard all their life and save money for their pension only to find that money worthless and stolen when they retire then that is a heinous crime.

Not only that but the fraudulent bail outs with tax dollars these scams feed off of destabilize entire countries and prevent a country's ability to provide social programs like medical coverage for all. Good intentions are robbed by bad people who claim to be good with money while they scam you out of your retirement savings. This needs to be addressed.

Two preventions I would cite off the top of my head are beware of the get rich quick scheme. Sound financial management involves regular savings over and extended period of time. The other obvious fact is diversification. Don't put all your money especially your entire retirement savings all in one high risk investment. It's just not worth it. The first rule of sound investment strategy is diversification. You don't invest all your money in one area in case that area drops. Often large drops in the market are temporary and recover. Diversification helps people overcome being trapped by market fluctuations.

Bad Vancouver Heroin Batch Kills 20 in 2011



B.C. Coroners Service has warned that a bad batch of heroin on the streets of Vancouver is twice as potent as normal and has resulted in more than 20 heroin overdoses in the first four months of 2011, double that of a year earlier.

The question I have is where is this heroin coming from? If most of the world's heroin comes from Afghanistan, does that mean this extra potent heroin is coming from the opium fields the US soldiers are helping to cultivate and harvest? I think that is a very relevant question.

We are told that Afghanistan regains its Title as World's biggest Heroin Dealer. Afghanistan is still the source of almost all of the heroin sold in London. Well isn't that ironic?

After the war, Britain assumed responsibility for coordinating the international effort to crush Afghanistan's opium trade. lol isn't that a joke. The US soldiers are openly cultivating and harvesting opium and England has assumed responsibility for crushing the opium trade in Afghanistan.

The BBC reports that Afghanistan retook its place as the world's leading producer of heroin in 2002, after US-led forces overthrew the Taliban which had banned cultivation of opium poppies. The Americans tell us they have to cultivate the opium or the Taliban will, yet the Taliban banned opium when they were in power.

The head of Russia's Federal Service for Narcotics Control claims Heroin production in Afghanistan has grown by 40 times. Russia is asking NATO to stop cultivating opium in Afghanistan. Can you believe that?

Meanwhile back on the ranch, the conservatives are going to the Supreme Court to try and get Insite shut down. So which is it? Get paid to have the military profit from the production of opium in Afghanistan or get heroin off the streets? It's all so conflicted.

I have mixed feelings about Insite. Cleaning up the allies is a good thing. Preventing death is a good thing too. Yet giving alcoholics alcohol is not in their best interest.

The problem with needle exchanges and with insite is that as soon as you hand out free needles or have a safe injection site, drug dealers sell drugs outside. The police can't really arrest them for selling drugs when we are handing out free needles or providing safe injection sites. This is how a social program changes the democratic laws in society.

I still say we should target the drug dealers not the drug addicts. If a prolific offender repeatedly commits crime to pay for their addiction then lock them up for three months. If a drug dealer is selling crack on the street, look him up for a year. It's that simple. Enforcement is one of the Four Pillars. Harm reduction without prevention, treatment and enforcement is simply a one legged horse that goes nowhere.

Even if Insite continues, the police can still arrest drug dealers for selling drugs. Enforcement is one of the Four Pillars.

Thursday, May 5, 2011

Office of Naval Intelligence



The documented connection of the CIA and drug trafficking is well entrenched. Gary Webb talked about it, the Kerry Committee talked about it, even Judge Bonner talked about it on 60 Minutes. Yet the documented use of Mena Arkansas for CIA drug trafficking is indisputable.

The point I would like to make at this time is that the CIA is not the only quasi government organization accused of being directly involved in drug trafficking. Al Martin claims the Office Of Naval Intelligence also runs it's own programs separate from the CIA. He claims they are much more ruthless in covering up liability so to speak.

Martin claims the ONI controls the West and that their operations ran through their cut out Evergreen Airlines which they took over from the CIA. (page 334) He claims Gary R. Eitel filed an affidavit claiming planes from this company were used to haul illegal weapon shipments to private companies. More drugs for arms.

Obviously when confronting the problem of drugs in our cities, addressing the supplier is more effective then just the low level dealer. Finding out that some of the biggest suppliers are government organizations becomes somewhat problematic in dealing with the problem in our own communities. The point I'd like to make is that it's not just drug trafficking and money laundering. There is an extensive amount of fraud as well.

National Heritage Life Insurance



When we hear the name George Bush we pull out the shoe cannon and shout war criminal. Since he vetoed the bill to stop torture at Guantanamo bay he is even more of a war criminal than the Serb who just had his Canadian citizenship revoked for allegations of torture.

Yet everyone knows Bush is a war criminal. Not everyone knows about his extensive involvement with investment fraud. We talked about his involvement with Bre X and his family's involvement with Oil fraud. National Heritage Life Insurance is yet another.

National Heritage Life Insurance was featured on the TV series American Greed. They claimed "The owners of the Orlando, Fl based company are funneling company money into their own pockets. But they need help and Sholam Weiss is just the man to provide assistance. Together they find new ways to bilk the company. When all is said and done, they take $450 million from National Heritage."

"Federal authorities said the fraud began in the early 1990s, when a group of businessmen began looting the company. Weiss took control in 1993, and with several confederates bought up worthless stocks and mortgages. The money vanished or ended up in accounts controlled by Weiss." (and a "group of businessmen" who were not convicted)

According to former Navy Intelligence officer Al Martin, "National Heritage Life Insurance Company was part and parcel of Heritage Financial Group, Heritage Credit Group, Heritage Securities Group, Heritage Banking Group. It was more than just an insurance company. Heritage was a consolidated financial group involving securities, banking and insurance." (page 345 The Conspirators)

Al Martina claims that "One of the principals of the company was John Gotti. Among the directors was George Sr., George Jr.,Jeb, Neil ect. These were the directors of the holding company called Heritage Group International."

George Bush in business with John Gotti. Imagine that. Al Martin claims their purchase of the company began with fraud. He claims they wrote a cheque for $4 million from an empty account. As soon as Heritage transferred all it's files and assets, the new partnership then transfers $4 million from Heritage Life's reserve capital into their account to cover the $ 4 million cheque they had already written. (page 344)

He then claims they turned Heritage into a fraud centre where they would buy busted out HUD properties for $500,000, then list their value on Heritage books as $5 million. Martin claims they did this repeatedly. (page 344)

Martin claims "Andrew Cuomo, through his father Mario's influence, was hired on as a consultant to the corporation. He was also a member of the Board of Trustees of Heritage Life at $50,000 per year. When Andrew became Director of HUD, Andrew helped cover up Heritage's scams vis-a-vis HUD. Heritage in turn not only buys up HUD property, but it also becomes its own insurer of HUD property. For example, it would claim that the insurance premium on XYZ property was $1 million a year, when in fact the insurance was only $100,000 a year."

Martin thought they'd pick Andrew Cuomo to be the scam's scapegoat. Not so. Instead, they chose Sholam Weiss to be the scapegoat and made Andrew Cuomo governor of New York. After he was AG and investigate Life Insurance fraud of course. I don't know whether to laugh or cry.

Catherine Austin Fitts claimed that under Andrew Cuomo's leadership "HUD was Being Run as a Criminal Enterprise." (reposted thanks to Mike Rupert)

In fact, the Coumotarp blog refers to Andrew Cuomo's Predatory Heart Of Darkness and claims: "As Secretary of HUD, Andrew Cuomo reversed the policy of selling defaulted mortgages so that families could keep their homes. Instead, he chose to foreclose on mortgages, which meant that families lost their homes and insiders cleaned up on fire-sale priced properties. The US Treasury also lost billions." This is one of the guys that caused the bank crisis in the US and robbed the taxpayers out of that insane bailout.

Wednesday, May 4, 2011

George Bush coming to Surrey???



George Bush is coming to Surrey? You have got to be kidding. George Bush vetoed the bill to stop torture at Guantanamo Bay. That does make him a war criminal. Having George Bush speak on the economy is insane. He added trillions to the debt.

He kept going back and asking congress for more and more money for the unlawful invasion of Iraq based on a lie. A large portion of the tax dollars went to Dick Cheney who was involved with Haliburton that directly profited from the invasion of Iraq.

Former Navy intelligence officer Al Martin talked about the Bush family's extensive involvement with investment fraud in his book The Conspirators. George Bush was tied to Bre X the largest investment fraud in Canadian History. Keep Surrey Safe. Keep George Bush out!

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Looks like it's on despite local concerns. The Surrey Regional Economic Summit will host Bill Clinton and George Bush.

7:30am – 2:00pm, Thursday, October 20, 2011
Sheraton Vancouver Guildford Hotel
15269 104th Avenue, Surrey, BC, Canada

Maybe Mr. Bill can tell us how he covered up for his pal George W in Mena Arkansas when he was governor of Arkansas by protecting the crooked corner Fahmy Malak who tampered with evidence and ruled murders suicides.

Maybe George W. Fraud can tell us all about how he scammed so many people with oil fraud and bank fraud. Maybe he'd even be kind enough to tell us how much money he made off Bre-X in Calgary.

Tuesday, May 3, 2011

Gadhafi's son and grandchildren laid to rest



The funeral for Gadhafi's son and two grandchildren killed by a NATO missile strike was held Monday. Rebels said the claim that family members were killed was a publicity stunt by the flamboyant strongman. I guess not. A Yemeni official condemned the attack.

Despite denials from Western leaders that the air raid on the Gadhafi compound was an assassination attempt, it has provoked renewed debate on whether the British and French-led strikes are exceeding the United Nations' mandate to protect civilians. No kidding. Bombing one side is not enforcing a ceasefire. Neither is murdering children.

Rebel fighter Abdel-Aziz Bilhaj, 22, welcomed the attack, saying it would make Gadhafi think twice about how he dealt with his people. Rebels cheered and set off fireworks with the news. Can we not see how twisted this is? We have become animals thirsting for blood and hungering for war. They said it would one day come to this but it is very sad nevertheless.

The Libyan leader also had an adopted daughter who was killed in a 1986 U.S. airstrike on his Bab al-Aziziya residential compound, which was separate from the area struck on Saturday.

Bin Laden death won't speed Afghan departure



David Cameron claims Bin Laden's death won't speed Afghan departure. Of course it won't. After all who will protect the oil pipeline and help cultivate and harvest the opium there? The fact that bin Laden wasn't found in Afghanistan isn't relevant. There is too much money to be made through the modern imperialism.

Canadian Election Results



Wow, with a last minute NDP surge in popularity in the last two weeks of the election campaign, the election proved to be a nail bitter that did indeed make history. First, it is amazing how the NDP swept Quebec. I think it is remarkable. I have nothing against Duceppe or the Bloc. Seeing Quebecors who previously voted for the Bloc vote for the NDP tells me all of a sudden many Quebecors feel included. In fact I have a French friend in Quebec who has been telling me the feeling in Quebec is changing and that it's more of a global perspective. Helping Quebec feel included is a good thing. That obviously is not something Harper wants to do.

I'm thrilled to see the Green Party finally get a seat and am thrilled it turned out to be Elizabeth May. I think banning her from the leadership debate was shameful. My heart was softening toward Iggy at the end. My initial concern about him was the fact that he wrote a book saying torture is OK. Harper feels the same he's just lest honest about it. He lies and covers it up. Then when a whistle blower leaks it out to the public he fires the whistle blower and slanders him. Not to worry. Justine Trudeau will save the Liberal party. I just wish more Conservative seats went to the NDP not Liberal.

The end result is a disaster. A conservative majority. It's nice the NDP are the official opposition but now that the Conservatives have a majority, the country is worse off. Once again there will be no debate on any issues. The Conservatives will let the NDP speak on a bill while they cover their ears and mockingly say bla bla bla then cram through their unbalanced crime bills just because they can. I do not support closing more schools and hospitals to build more prisons for nonviolent crime or jets to bomb countries for their oil. And I most certainly don't support raising taxes with the HST to pay for them.

It was shocking to see Gordon Campbell and George Bush get elected to second terms. No doubt Harper will also hang himself when given enough rope just as they did. I do support democracy but I will record my dissent. It's the lies that get me angry. We will watch his spending because he already spent Paul Martin's budget surplus. It's kind of sad that the Conservatives only got 39.62% of the vote compared to the NDP's 30.62% yet they got 54.2% of the seats. Indeed, we will watch their spending closely because the lies are no longer believable.



On the brighter side I can say with conviction that I did not vote for Stephen Harper and I do not support him. Donna Cadman lost her seat because a vote for her was a vote for the people that tried to bribe her husband with an insurance fraud. The general public has no idea of all the bizarre things Harper has already done and are just beginning to find out about them. I can in all sincerity extend the hand of brotherhood to Quebec in the spirit of fraternity. After all, it was the French revolution that was built upon Liberté, égalité, fraternité. Harper has none of those qualities.

Stephen Harper did not get 54% of the votes he got less than 40% of the votes. He is not fiscally responsible. He spent Paul Martin's budget surplus. Stephen Harper is no Preston Manning and no Lester Pearson. He's just another Brian Mulroney who I might add committed perjury and defrauded the Canadian people out of $2 million.

Monday, May 2, 2011

Lester B. Pearson's Nobel Peace



Lester B. Pearson won the Nobel Peace for organizing the United Nations Emergency Force to resolve the Suez Canal Crisis. He did many great things for Canada. His minority government introduced universal health care, student loans, the Canada Pension Plan, the Order of Canada, and the current Canadian flag. During his tenure, Prime Minister Pearson also convened the Royal Commission on Bilingualism and Biculturalism.

Nevertheless, I want to touch on the reason he won a Nobel Peace Prize. In 1956 Egypt wanted to Nationalize the canal so France, England and Israel invaded.

The Suez Canal was opened in 1869, after ten years of work financed by the French and Egyptian governments. In 1875, as a result of debt and financial crisis, the Egyptian ruler was forced to sell his shares in the canal operating company to the British government of Benjamin Disraeli. They were willing buyers and obtained a 44% share in the canal's operations for less than £4 million; this maintained the majority shareholdings of the mostly French private investors.

The canal instantly became strategically important; it provided the shortest ocean link between the Mediterranean and the Indian Ocean. The canal eased commerce for trading nations and particularly helped European colonial powers to gain and govern their colonies. England invaded Egypt in 1882 and took control of the country and canal.

Although the canal was a strategic military intersection during the first and second world war, in 1955 petroleum accounted for half of the canal's traffic, and, in turn, two thirds of Europe's oil passed through it. In 1953 England was involved with Operation Ajax in Iran trying to secure their control of Iran's oil.

26 July 1956 President of Egypt Gamel Abdel Nasser decided to nationalize the Suez Canal. He announced that the Nationalization Law had been published, that all assets of the Suez Canal Company had been frozen, and that stockholders would be paid the price of their shares according to the day's closing price on the Paris Stock Exchange.

Three months after Egypt's nationalization of the Suez Canal company, a secret meeting took place at Sèvres, outside Paris. Britain and France enlisted Israeli support for an alliance against Egypt. The parties agreed that Israel would invade the Sinai. Britain and France would then intervene, purportedly to separate the warring Israeli and Egyptian forces, instructing both to withdraw to a distance of 16 kilometres from either side of the canal. The British and French would then argue that Egypt's control of such an important route was too tenuous, and that it needed be placed under Anglo-French management. (Protocol of Sèvres)

Both the French and the British felt that Nasser should be removed from power. The French "held the Egyptian president responsible for assisting the anticolonial rebellion in Algeria." France was nervous about the growing influence that Nasser exerted on its North African colonies and protectorates. Both Britain and France were eager that the canal should remain open as an important conduit of oil. Israel wanted to reopen the Straits of Tiran leading to the Gulf of Eilat to Israeli shipping, and saw the opportunity to strengthen its southern border and to weaken what it saw as a dangerous and hostile state.

The Israelis were also deeply troubled by Egypt’s procurement of large amounts of Soviet weaponry that included 530 armored vehicles, of which 230 were tanks; 500 guns; 150 MiG 15 jet fighters; 50 Iluyshin-28 bombers; submarines and other naval craft. The influx of this advanced weaponry altered an already shaky balance of power.

Washington disagreed with Paris and London on whether to use force to resolve the crisis. The United States worked hard through diplomatic channels to resolve the crisis without resorting to conflict. Hence Lester B. Pearson's attempts to find a diplomatic solution to the invasion.

Unfortunately, now we see wars controlled not by governments but by large oil companies who continue to extort the public with over inflated gas prices at the pump while they continue to line their pockets with blood money at the taxpayers expense.