This even stretches to areas of investing that stupid mug punters still think are bulletproof data.
Not only have cashflow and balance sheets proved in recent years to be works of fiction and ASIC have taken no action after the scams were exposed.
Now it seems a good number of the feasibility studies released to the ASX are complete works of fiction when you dig deeper.
It seems key inputs/output can be altered by anyone and good luck trying to pin down who made the 'errant' change.
Pointed out a case to ASIC a year ago and not a peep. I didn't even get the standard 'No action to be taken at this time' letter.
Someone even tried to float a perpetual motion machine.
The problem is that of the 1900 public companies listed on the ASX, my view is that more than half have corrupt or malevolent board members.
The scams are now so numerous and multifaceted that the situation is out of control and the only way that ASIC could fix the situation is to delist every single public company and close the ASX or flog the whole kit and caboodle off to Singapore so they can claim it is out of their jurisdiction.
