howard and the markets disaster looms, page-9

Dear Cken8,

There is no conspiracy theory in my post. I have postulated this position for over a year now with the first 30 companies I identified in both counters (resources and industrial) that have been insolvent and or posting reports and providing financials that are at best suspect.

I continued my attack by singling out three companies that were being a bit audacious by engaging in stock price manipulation. One of these operated in PNG and by stock price manipulation I mean the feeding of patently incorrect (false and misleading) information by legal definition that made their share price rise by 500%.

The ASIC did not budge inspite of a complaint or two and neither did the ASX. The share price reflected a penny stock. Any increase in price traditionally is not a wave or a ripple to them. But it happened and elicited a response from their chairman.

His response did not go far enough and still did not warrant a correction in their annual reports. Thats what the actions of the ASIC and ASX (or lack of it) encourages. Audacity and arrogance to the point of criminal behaviour.

A second company claiming to have some building materials technology so original that the Chinese government was spending millions of dollars building plants for them and the Phillipino government doing the same claimed in an ad to have assets of $70 million i the company when the company was capitalised at less than $5 million. The ASIC intervened on the basis of the ad which was withdrawn and the company went elsewhere (NASDAQ???). No such success there either.

With the assistance of a two of academics and two journalists we have since begun the task of analysing the real value of companies on the ASX and their reports, their financials, their claims, their projections, their assets and their share prices to see how these fit in with each other to reflect in their share price.

In the majority we find at least evidence of trading which is no more than shifting and turning over stock to maintain prices at a certain level. In at least 8 cases there is enough evidence to suggest the brokers and underwriters or majority shareholders are responsible for the movement in an act of manipulation in direct violation of the rules.

See your claim that every company has debt and thats what makes capitalism what it is is not incorrect. I am not in any way suggesting debt is wrong or unlawful. Read what I have written first then use the exletives. otherwise you are adding to your ignorance insults to yourself.

I would doubt you would be in the category of board members or managers or even marginal shareholders of even the worst of these companies. If you are then I rest my case. You'd speak for the cause!!