Re: Concerns about counterfeit shares
in response to
by
posted on
Jun 27, 2008 06:17PM
Creating value through Exploration and Development in the Sierra Madre of Mexico
Bull, my concerns over counterfeit shares are as follows:
1. There are right now, serious pressures within financial institutions. It's no longer only about making profit; it's about survival i.e. keeping ones job and the lifestyle that many of the crooks in this game have come accustomed too over the last 10years. This means they will get more and more brazen about their activities as they fight from going under. I don't think any of us should underestimate the human will to survive when up against the wall. What has become obvious, hence the sudden awareness of how bad this is, is a lot of these crooks no longer really care about hiding the activity, there are so many of them at it, they feel a sense of safety in numbers (the heard mentality). I believe they feel somewhat untouchable as they see regulators tip toeing around the practice for fear of bringing down, or seriously breaching the integrity of the markets.
2. It appears many of the smaller crooks are slipping down from the mid tier juniors i.e. AEM etc to the Kimbers' of this world. Why? Because volumes in those stocks have gone up and are no longer as easily manipulated. The bigger boys have taken over that turf. Until volumes seriously go up in our stocks then I can't help but see these guys RAMP UP their practices and simply go for broke until they are stopped or they break the system.
Sadly, I think they have the potential to cause serious damage before they are taken down.
3. The risks to us, is not so much the companies and what they can or can't produce, but rather whether we get caught up in the wake of the aftermath of this practice finally being stopped.
I think it's very prudent and proper to realise that we could all get hurt very badly in the fallout when it happens. Simply put, we could lose our money. It is also right and proper, that one should give serious consideration to pulling out of the Canadian stock market for junior mining stocks PERIOD! or maybe investing in Australia, New Zealand or other resource rich countries where this practice is obviously not so rampant.