blogcounterfeitconspiracy

BlogCounterfeitConspiracy was conceived to initiate fruitful discussion concerning the shortcomings of the financial markets, the lack of oversight, and the counterfeit conspiracy derived from naked shortselling.

Saturday, April 30, 2005

Opening Statement

Counterfeit Conspiracy Blog


This blog for the “Counterfeit Conspiracy” is being put up to allow anyone and everyone the freedom to express their opinions about the crimes of manufacturing and selling of counterfeit shares, also known as naked short selling.

Please feel free to visit our blog often and make comments of fact, opinion or both.

“Counterfeit Conspiracy”, produced by Hugo Cancio and Fuego Entertainment, is a documentary that is being filmed to educate the American public of the fraud and corruption happening on a daily basis in the U.S. market places through the use of naked short selling.

Naked short selling is actually the manufacturing and selling of counterfeit or fictitious shares to the investing public. Unlike the financial disasters of Enron and Worldcom, this crime is NOT being perpetuated by the companies, it is being perpetuated by a combination of brokers, market makers, clearing houses, hedge funds and the DTCC and all of its entities.

And, unlike Enron and Worldcom, there is a lot more at stake in the naked shorting scheme than we saw in these two financial disasters combined. Over the past decade it has been estimated that this crime has claimed the lives of over 7,000 small businesses, destroyed investments and savings of millions of investors and has been responsible for Trillions of U.S. dollars leaving this country.

After the stock market crash in 1929, Congress instituted the Securities Exchange Act of 1934 to make sure that the acts that led to this crash would never be allowed to happen again. The act of naked short selling has been against the law since this Act was put into law. However, on our own Securities and Exchange Commission’s website, they state that “Naked short selling is not necessarily a violation of the federal securities laws or the Commission's rules”. This statement and many others like it can be found at http://www.sec.gov/spotlight/keyregshoissues.htm

This all makes you wonder why this crime has/is being allowed to continue and why the Securities and Exchange Commission has not been enforcing the laws.

Some people are under the impression that the whole controversy of the naked short selling issue is just a scam made up in the minds of people wanting to make a quick buck scaring innocent people into thinking there is a problem where none exists. Nothing could be further from the truth!

The counterfeiting of shares is real and the damages to individuals and businesses continue to happen at alarming rates every single day. Small public companies are the ones being picked on the most as they are the most vulnerable and least likely to have the means to fight back.

One man, with a lot of money and his own Blog about this issue, claims that naked short selling doesn’t exist and even if it did exist in the Pink Sheet companies, he doesn’t care and anyone that invests in Pink Sheet companies deserves to loose their investment! Wonder if he dares to come over to this blog?