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连续发几个邮件
1， FINANCIAL FRAUD, ANTI-FRAUD
2， A Formal Declaration
3， Canadian legal system is not bad
4， 25 reasons to stop the extension of OSC cease order
http://www.wtang.com/book/bbs/forum_view.php?aG9tZSw1NCw1MCwsLCxULDIwMTA=
投资人骂我，我骂谁呢?
FINANCIAL FRAUD, ANTI-FRAUD AND JUSTICE DENIED
By Weizhen Tang
May 2, 2010
People who work in government offices often make easy money and can relax, frequently having a lot of fun. Many are possibly unaware of the effect they have on the private sector, and on the millions of struggling investors.
Take, for a good example, a senior investigator named Jeff Thompson, who works for the Ontario Securities Commission (the O.S.C.), who has not always shown the excellence one would expect from someone in such an important position. In the year 2009, he appeared determined to find a ponzi schemer in Canada, after all the explosive news about Bernard Madoff—considered an investing genius who once served as Chairman of NASDAQ—in the United States. (Canada has a tradition of trying to echo our much louder and more aggressive Good Neighbour to the South). As the markets around the world were shaken to their core and nearly toppled over, Mr. Thompson displayed a belief that he had discovered a Big One in Toronto. The newspapers, as well as radio and TV stations, quickly picked up the story, and soon, dozens of articles repeated what the O.S.C. had announced to the nation.
But Mr. Thompson appeared to have little idea about what a ponzi scheme truly was, and what this ugly and serious type of fraud entailed. He and several of his colleagues at the O.S.C.—at least five of them—worked on my case, resolute in their desire to show Canadians that someone who had earned the name “the Chinese Warren Buffett” was, in fact, the “Chinese Madoff.” Mr. Thompson seemed to define a ponzi schemer as “one who uses investors’ money to pay off earlier investors.” In other words, as men and women freely choose to withdraw the money they had invested with a company, this type of financial fraudster would use the money coming in from new investors to pay off the earlier ones who wanted out.
Mr. Thompson was right, in the sense that the regulated financial system often takes the form of a financial fraud, using the money of new investors to pay off previous investors, forcing investors to take losses in a sophisticated, legal fashion. This seems to be acceptable to the government.
Investors, particularly individual investors, are nearly always losing money. They too often get “taken in,” cheated, and are financially hurt, even devastated, by the sometimes inscrutable and illogical movements of the world’s markets. Investors and the general public are afraid, and hate to invest, often having been cajoled, and nearly forced, to invest, by the government. (We’ve all seen those expensive ads: “Put your RRSP money into this mutual fund or that stock!”) These investors rarely know who is really cheating them; defrauding them out of their hard-earned money. When a governmental official uncovers a fraud, and punishes those who commit it, they are thrilled. And, sadly, there is financial fraud and there are real criminals everywhere, most of them under legal, governmental protection. The average investor is simply unaware of who out there is trustworthy and reliable, can do the job, and help them to build their savings and eventual fortune.
In reality, a fraudulent system punishes individuals, so the fraud grows larger and larger, turning into a monster, as it becomes more and more sophisticated. We have heard all over the media over the past few years a quite terrifying phrase: that this bank or that company is “too big to fail.” But this is actually a fraudulent slogan. The real truth about the financial industry is that many institutions are “too small to save.” That is the sad reality which small, private businesses continually face. An actual fraud could only become gigantic through governmental policy, and special protection. When these frauds become too large, they are disasters. We Canadians have watched, often with shock and sadness, the mortgage crises in the United States, which left millions losing their homes to the banks.
Look back at the market melt-down in 2008 and 2009: capitalism as we know it appeared to collapse in the face of a terrifying economic recession, hinting at a repeat of the Great Depression of the 1930s. The governments of the world felt that they had to “save the system” and all those “too big to fail” institutions, through massive injections of capital, printing paper money by the billions (potentially leading to dangerous inflation, as this was not backed by gold or real value). This would inevitably lead generations of investors to take huge losses, destroy small investors and fledgling businesses, and leave countless citizens to think, “Why can we not complain about this? Why is it us who always get hurt so badly?” The answer: nobody would help them, or understand the problems being created by those in power who were Too Big to Fail themselves.
Everyone needs money. All of us wish to make money. True fraud comes from greedy people who do not know how to make money consistently in the market or in business. It is true that making money in a flawed system is extremely difficult: few people who invest “beat the markets,” but most are forced to somehow accept the system. It seems as if the only way to survive and prosper is by fraud—but in a “legal” way.
As an investor, a victim, and a life-long fighter of fraud, I know well how other people feel, and how terribly painful it is, to lose one’s life-savings. I also know how to survive, to fight, and to help others. I found good, honest business opportunities in this vast, fraudulent system, by being a contrarian. This worked, and worked very well. I developed an anti-fraud system which is innovative, highly creative, powerful and profitable; one which benefits all, even the government. My theories were eagerly welcomed by many investors, especially sophisticated ones.
I have no problem successfully making money in any market with this new system, as I have shown in numerous, live demonstrations. When I did not carefully follow my own philosophy, I failed during the financial market meltdown of 2008 and 2009, and have paid greatly for my lack of faith in myself. A good system of dealing with the financial marketplace should be fraud-proof and anti-fraud by its very nature, which is what I designed and developed over the years, and was in the final stage of perfecting when I ran into serious problems in early 2009.
What was and is my system, and how is it anti-fraud at its core?
Simple: an anti-fraud system should always put investors’ interests first, and in action, not merely words. If an investor fails to make good returns, a manager should not get paid, and must charge nothing. If an investor loses money, he or she should be compensated by the one who was entrusted with that money, from the manager’s own pocket. If the investors cannot be paid back immediately, then the handlers of those funds must vow to reimburse the investor as soon as possible.
An investment manager should always be liable and reliable, and should be able to make decent returns in the market on behalf of his clients the vast majority of the time. This is impossible to guarantee, but one must promise to do so. And all investors should be free to withdraw their funds at any time and return at any time, with no restrictions on monetary movement. “No profits/no charge” shows confidence and responsibility, and it is the way that financial leaders such as Warren Buffett and only a few other quality managers can claim.
Unfortunately, the majority of fund managers and portfolio managers and advisors do not dare to offer what investors need and should demand. The only way for most to make money is through fraud, and under the protection of regulators, who often force investors to take major losses and assist investing “gurus” to steal investors’ money in a kind of “legal fraud.” What I mean by this is, too many money managers take money from investors all the time, and force them to take losses, which is what I consider to be a kind of fraud.
So, we see the O.S.C. and the police wronging many honest dealers, such as myself, joined in these unfortunate actions by crown attorneys. I went through the dreadful experience of seeing these Powers stop my business, issue cease trading orders, destroy my hard-built reputation and my good name, and wipe-out my earning power. They used government regulatory power as a tool of punishment, and utilized government resources, money and manpower, to damage a small, honest, viable business and those who invested in it.
I worked non-stop for nearly two full decades to be successful in this difficult world, always fighting for the good of investors, for the industry, and for the economy as a whole. I cost nobody anything, and no government assisted me in achieving this goal. In fact, what I usually witnessed were people in power who worked against the best interests of small businesses and small investors. What was clear was a terrible waste of money in the creation and prosecution of a case against me.
In just over a year, about a half-dozen people worked on my case, and spent (or should that be “wasted”?) large amounts of money. There was no forensic accounting done, no accounting evidence brought against me, no evidence of the slightest fraud on my part. No trial, but plenty of punishment: armed force was used against an innocent citizen of Canada, against whom nothing illegal was proven, nor any threat to anyone even suggested. There was no justice served, but rather a shocking three-month confinement in the Don Jail in downtown Toronto. As a justly-famous statement goes, “Power Corrupts; Absolute Power Corrupts Absolutely.”
I ask for little: I desire truth, not force; justice, not punishment. And especially not punishment before a fair trial and proof of guilt.
Small businesses and private businesses such as mine are the engine of our economy. Big government which is sometimes out of control is an engine of failure and injustice. I have shown respect for our justice system and total co-operation through my entire life. When I was asked—or rather, ordered—to return from a trip to Asia several months ago, where I had been visiting my adult daughter and doing entirely legal business transactions, I happily and readily agreed. What greeted me upon my prompt return to my chosen city of Toronto were police cars at Pearson Airport and plenty of TV cameras and radio microphones, followed by a quarter-year of imprisonment! There had been no proof of anything criminal, I had consistently made every court date over the previous twelve months, and was eagerly looking forward to my next meeting with the Ontario Securities Commission a few short months later, booked in late 2009. There was never any suggestion in my words or actions that I was, or had plans to be, a fugitive from justice.
Buddhist ures describe the Noble Eight Fold Path, which includes “right conduct, right livelihood, right behaviour.” Hinduism orders us “Do not do to others what you would not wish done to yourself.” The Christian Bible (Matthew 5:6) proclaims “Blessed are those who hunger and thirst for righteousness, for they shall be satisfied.” And the Hebrew Bible—which many believe does not contain a single extraneous or unnecessary word, has a remarkable phrase in Deuteronomy, the fifth book of the Five Books of Moses (Chapter 16, verse 20): “Justice, Justice, you shall pursue.”
The word “justice” is actually repeated, as it is considered to be essential to human decency and survival. And we are ordered to “run after it,” and not merely expect that it will naturally occur, like the sun rising in the morning. I am still waiting for justice, as are my clients, the majority of whom have written letters and signed documents which begged me to return to investing on their behalf. (Can you imagine a single client of the true Ponzi Frankenstein, Bernard Madoff, now serving his sentence of over a century in jail, who would even think of considering that this one-time Hero of Wall Street should handle their investments again?) Justice is what I hope for, and justice is something that I have not seen, in this usually wonderful country which I and millions of others so joyously chose.
END
1， FINANCIAL FRAUD, ANTI-FRAUD
2， A Formal Declaration
3， Canadian legal system is not bad
4， 25 reasons to stop the extension of OSC cease order
http://www.wtang.com/book/bbs/forum_view.php?aG9tZSw1NCw1MCwsLCxULDIwMTA=
投资人骂我，我骂谁呢?
FINANCIAL FRAUD, ANTI-FRAUD AND JUSTICE DENIED
By Weizhen Tang
May 2, 2010
People who work in government offices often make easy money and can relax, frequently having a lot of fun. Many are possibly unaware of the effect they have on the private sector, and on the millions of struggling investors.
Take, for a good example, a senior investigator named Jeff Thompson, who works for the Ontario Securities Commission (the O.S.C.), who has not always shown the excellence one would expect from someone in such an important position. In the year 2009, he appeared determined to find a ponzi schemer in Canada, after all the explosive news about Bernard Madoff—considered an investing genius who once served as Chairman of NASDAQ—in the United States. (Canada has a tradition of trying to echo our much louder and more aggressive Good Neighbour to the South). As the markets around the world were shaken to their core and nearly toppled over, Mr. Thompson displayed a belief that he had discovered a Big One in Toronto. The newspapers, as well as radio and TV stations, quickly picked up the story, and soon, dozens of articles repeated what the O.S.C. had announced to the nation.
But Mr. Thompson appeared to have little idea about what a ponzi scheme truly was, and what this ugly and serious type of fraud entailed. He and several of his colleagues at the O.S.C.—at least five of them—worked on my case, resolute in their desire to show Canadians that someone who had earned the name “the Chinese Warren Buffett” was, in fact, the “Chinese Madoff.” Mr. Thompson seemed to define a ponzi schemer as “one who uses investors’ money to pay off earlier investors.” In other words, as men and women freely choose to withdraw the money they had invested with a company, this type of financial fraudster would use the money coming in from new investors to pay off the earlier ones who wanted out.
Mr. Thompson was right, in the sense that the regulated financial system often takes the form of a financial fraud, using the money of new investors to pay off previous investors, forcing investors to take losses in a sophisticated, legal fashion. This seems to be acceptable to the government.
Investors, particularly individual investors, are nearly always losing money. They too often get “taken in,” cheated, and are financially hurt, even devastated, by the sometimes inscrutable and illogical movements of the world’s markets. Investors and the general public are afraid, and hate to invest, often having been cajoled, and nearly forced, to invest, by the government. (We’ve all seen those expensive ads: “Put your RRSP money into this mutual fund or that stock!”) These investors rarely know who is really cheating them; defrauding them out of their hard-earned money. When a governmental official uncovers a fraud, and punishes those who commit it, they are thrilled. And, sadly, there is financial fraud and there are real criminals everywhere, most of them under legal, governmental protection. The average investor is simply unaware of who out there is trustworthy and reliable, can do the job, and help them to build their savings and eventual fortune.
In reality, a fraudulent system punishes individuals, so the fraud grows larger and larger, turning into a monster, as it becomes more and more sophisticated. We have heard all over the media over the past few years a quite terrifying phrase: that this bank or that company is “too big to fail.” But this is actually a fraudulent slogan. The real truth about the financial industry is that many institutions are “too small to save.” That is the sad reality which small, private businesses continually face. An actual fraud could only become gigantic through governmental policy, and special protection. When these frauds become too large, they are disasters. We Canadians have watched, often with shock and sadness, the mortgage crises in the United States, which left millions losing their homes to the banks.
Look back at the market melt-down in 2008 and 2009: capitalism as we know it appeared to collapse in the face of a terrifying economic recession, hinting at a repeat of the Great Depression of the 1930s. The governments of the world felt that they had to “save the system” and all those “too big to fail” institutions, through massive injections of capital, printing paper money by the billions (potentially leading to dangerous inflation, as this was not backed by gold or real value). This would inevitably lead generations of investors to take huge losses, destroy small investors and fledgling businesses, and leave countless citizens to think, “Why can we not complain about this? Why is it us who always get hurt so badly?” The answer: nobody would help them, or understand the problems being created by those in power who were Too Big to Fail themselves.
Everyone needs money. All of us wish to make money. True fraud comes from greedy people who do not know how to make money consistently in the market or in business. It is true that making money in a flawed system is extremely difficult: few people who invest “beat the markets,” but most are forced to somehow accept the system. It seems as if the only way to survive and prosper is by fraud—but in a “legal” way.
As an investor, a victim, and a life-long fighter of fraud, I know well how other people feel, and how terribly painful it is, to lose one’s life-savings. I also know how to survive, to fight, and to help others. I found good, honest business opportunities in this vast, fraudulent system, by being a contrarian. This worked, and worked very well. I developed an anti-fraud system which is innovative, highly creative, powerful and profitable; one which benefits all, even the government. My theories were eagerly welcomed by many investors, especially sophisticated ones.
I have no problem successfully making money in any market with this new system, as I have shown in numerous, live demonstrations. When I did not carefully follow my own philosophy, I failed during the financial market meltdown of 2008 and 2009, and have paid greatly for my lack of faith in myself. A good system of dealing with the financial marketplace should be fraud-proof and anti-fraud by its very nature, which is what I designed and developed over the years, and was in the final stage of perfecting when I ran into serious problems in early 2009.
What was and is my system, and how is it anti-fraud at its core?
Simple: an anti-fraud system should always put investors’ interests first, and in action, not merely words. If an investor fails to make good returns, a manager should not get paid, and must charge nothing. If an investor loses money, he or she should be compensated by the one who was entrusted with that money, from the manager’s own pocket. If the investors cannot be paid back immediately, then the handlers of those funds must vow to reimburse the investor as soon as possible.
An investment manager should always be liable and reliable, and should be able to make decent returns in the market on behalf of his clients the vast majority of the time. This is impossible to guarantee, but one must promise to do so. And all investors should be free to withdraw their funds at any time and return at any time, with no restrictions on monetary movement. “No profits/no charge” shows confidence and responsibility, and it is the way that financial leaders such as Warren Buffett and only a few other quality managers can claim.
Unfortunately, the majority of fund managers and portfolio managers and advisors do not dare to offer what investors need and should demand. The only way for most to make money is through fraud, and under the protection of regulators, who often force investors to take major losses and assist investing “gurus” to steal investors’ money in a kind of “legal fraud.” What I mean by this is, too many money managers take money from investors all the time, and force them to take losses, which is what I consider to be a kind of fraud.
So, we see the O.S.C. and the police wronging many honest dealers, such as myself, joined in these unfortunate actions by crown attorneys. I went through the dreadful experience of seeing these Powers stop my business, issue cease trading orders, destroy my hard-built reputation and my good name, and wipe-out my earning power. They used government regulatory power as a tool of punishment, and utilized government resources, money and manpower, to damage a small, honest, viable business and those who invested in it.
I worked non-stop for nearly two full decades to be successful in this difficult world, always fighting for the good of investors, for the industry, and for the economy as a whole. I cost nobody anything, and no government assisted me in achieving this goal. In fact, what I usually witnessed were people in power who worked against the best interests of small businesses and small investors. What was clear was a terrible waste of money in the creation and prosecution of a case against me.
In just over a year, about a half-dozen people worked on my case, and spent (or should that be “wasted”?) large amounts of money. There was no forensic accounting done, no accounting evidence brought against me, no evidence of the slightest fraud on my part. No trial, but plenty of punishment: armed force was used against an innocent citizen of Canada, against whom nothing illegal was proven, nor any threat to anyone even suggested. There was no justice served, but rather a shocking three-month confinement in the Don Jail in downtown Toronto. As a justly-famous statement goes, “Power Corrupts; Absolute Power Corrupts Absolutely.”
I ask for little: I desire truth, not force; justice, not punishment. And especially not punishment before a fair trial and proof of guilt.
Small businesses and private businesses such as mine are the engine of our economy. Big government which is sometimes out of control is an engine of failure and injustice. I have shown respect for our justice system and total co-operation through my entire life. When I was asked—or rather, ordered—to return from a trip to Asia several months ago, where I had been visiting my adult daughter and doing entirely legal business transactions, I happily and readily agreed. What greeted me upon my prompt return to my chosen city of Toronto were police cars at Pearson Airport and plenty of TV cameras and radio microphones, followed by a quarter-year of imprisonment! There had been no proof of anything criminal, I had consistently made every court date over the previous twelve months, and was eagerly looking forward to my next meeting with the Ontario Securities Commission a few short months later, booked in late 2009. There was never any suggestion in my words or actions that I was, or had plans to be, a fugitive from justice.
Buddhist ures describe the Noble Eight Fold Path, which includes “right conduct, right livelihood, right behaviour.” Hinduism orders us “Do not do to others what you would not wish done to yourself.” The Christian Bible (Matthew 5:6) proclaims “Blessed are those who hunger and thirst for righteousness, for they shall be satisfied.” And the Hebrew Bible—which many believe does not contain a single extraneous or unnecessary word, has a remarkable phrase in Deuteronomy, the fifth book of the Five Books of Moses (Chapter 16, verse 20): “Justice, Justice, you shall pursue.”
The word “justice” is actually repeated, as it is considered to be essential to human decency and survival. And we are ordered to “run after it,” and not merely expect that it will naturally occur, like the sun rising in the morning. I am still waiting for justice, as are my clients, the majority of whom have written letters and signed documents which begged me to return to investing on their behalf. (Can you imagine a single client of the true Ponzi Frankenstein, Bernard Madoff, now serving his sentence of over a century in jail, who would even think of considering that this one-time Hero of Wall Street should handle their investments again?) Justice is what I hope for, and justice is something that I have not seen, in this usually wonderful country which I and millions of others so joyously chose.
END
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