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Gold/Mining/Energy : Esprit Exploration Ltd.

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From: no1coalking	8/5/2008 2:40:42 PM
	of 2774

Recs: 1 Regulators turning a blind eye.... Excerpt from Gold Seek: Naked Short Sales [or Monetization] – More Flavors Than Ben and Jerry’s In the mainstream financial press, of late, there has been much-ado about NAKED SHORT SALES of equities [stocks]. That these phantom stock trades do in fact occur cannot be refuted. The Securities and Exchange Commission [SEC] has not only acknowledged that these fraudulent trades do occur, although illegal, but they have even gone so far as to announce that they will be vigilant – going forward – to ensure these illegal trades do not happen to selective financial stocks. What this shows is that regulators – in this case the SEC – do, at least on occasions - turn a blind eye to illegal actions right under their noses and certainly within their jurisdictions. What impressed Kirby about naked short sales of equities was how similar in appearance they were with the purchase and sales of bonds – particularly in the case of J.P. Morgan Chase – that, likewise, cannot legally exist. In the case of “phantom” stocks, laymen cannot tell the difference between real ones or the fakes. The only folks who do know the difference are the settlement agents – the DTCC [Depository Trust Clearing Corporation] – whose leadership is made up of the very firms [banks and investment firms] who perpetrate these crimes. To date, neither the DTCC nor the SEC have shown any willingness to expose the firms who have participated in these activities – citing bogus reasons of not wanting to reveal trade secrets. For all intent and purpose, the trade data is buried and will never see the light-of-day. Folks would do well to remember the most predominant character trait of international bankers; namely, they’ve never paid allegiance to ANY nation and their conduct is best described as supra-national. History proves this point: Full story: news.goldseek.com

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