To: Hungry Investor who wrote (1689 ) 8/11/1998 4:37:00 AM From: Michael Bidder Respond to of 3458
Scott Perry enjoy a good read... It's is an excerpt from Adrian du Plessis's "The case of collective unconscious". techstocks.com I find it an accurate and satirically funny portrayal of a Major Fraud. I am not calling Turbodyne an outright Fraud yet. I just like to bring some light to what we may be dealing with. <<<With a particularity and clarity distinct to the Bre-X affair, the YBM scandal also points to the insidious nature of Canada's stock markets today. (I add ..also Nasdaq.) Bre-X was a hoax - a classic, and unoriginal, gold mining "salt job" that made it into the stratosphere of TSE stocks fuelled by Bay Street's promotional network of brokers, analysts and fund managers. It may be inexcusable that those in the profession, and profiting from Bre-X, neglected or failed to properly inform investors of Bre-X founder David Walsh's history of public misrepresentations and failed ventures, or of regulatory violations by his close associates, or of the lack-lustre drilling history of Bre-X's Busang property, or of the company's unusual practices of not saving drill core etc. etc. But, Bre-X boosters could argue, even a disreputable, or controversial, penny stock promoter like Robert Friedland succeeded in locating a "world class" major metals deposit. (Though, as Inco is now demonstrating with the Voisey's Bay nickel deposit -- bought at top dollar from Friedland's Diamond Fields Resources -- there can be a big difference between an ore body and a mine.) The gold was there (at least in the eyes of Nesbitt's Egizio Bianchini and other Bay Street pros), and, hey, why couldn't Walsh and his circle of rounders transcend their pasts as nickel-and-dime losers and cheats and beat the odds to discover the biggest gold deposit in the history of mankind? And, as it turns out, the wizards now claim to have been fooled by the criminal genius of the Bre-X fraudsters. (If Columbo had to face such brilliance in one of his tv episodes, it'd have been over before the first commercial break.) Anyway, don't'cha know, it was that geologist who fell out of a helicopter and his Filipino pals who plotted it all out in secret. Yeah, that was it. Who could know? History means nothing....>>> Scott I fear the worst. This Turbodyne play has some bad elements to it. Don't leave stick around, I need a backboard. Sincirlly MB