The Madoff Double-Bluff

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cybernytrix's picture
cybernytrix
Status: Member (Offline)
Joined: Sep 11 2008
Posts: 18
The Madoff Double-Bluff

This is an interesting theory of how Madoff is ripping off the tax payers (albeit for a much "smaller" $50bn!). The central claim is that he is pleading guilty so that his friends can get some money back as tax breaks from the tax payers. Very refreshing and the kind of viewpoint that is not very common!

From the article:

So why plead guilty? The answer is simple. Look on the net and you will see that because this case is being labelled a fraud, it would appear that investors are going to be able to claim their investment back under the US government's financial fraud protection scheme. A judge has already given his approval in principle for compensation, without any evidence having been presented and financial fraud being demonstrated in a court of law. And it would appear that there will never be such a demonstration in a court of law. Why? It would appear that all the funds financial records are mostly "missing" (rather like Dov Zakheim's US$1.4tn) and those few records that do survive are in a terrible mess.

However, since the guy has pleaded guilty we do not need to demonstrate the fraud, because he says he is guilty.

Read the full article here.

I am already numb from having to part with my share of the $700bn and the $50bn is just pocket change! When does all this end? Why do the rich have to steal from the hardworking, and the poor? 

 

Headless's picture
Headless
Status: Gold Member (Offline)
Joined: Oct 28 2008
Posts: 363
Re: THE MADOFF DOUBLE-BLUFF

 

 I have to admit, I am no longer capable of anything resembling clear and objective thought with regard to the acts of the Wall Street-Governmental Complex. I think I would believe they eat live children (picture Paulson hacking limbs off of babies...a little milk and some sliced bananas--breakfast!) if someone claimed it were so. I truly expect the absolute worst from this current group of socially challenged mental peasants that is sacking (and has terminally sacked) the workers of the world. 

Thus, if this (the Madoff Double steal) turns out to be true, it will probably be the "great trade of 2009"; it will be the rage among hedge funds:

1. Find a sociopath who doesn't have long to live and who flunked accounting;

2. place a small amount of money with the sociopath so as to establish a presence;

3. have said sociopath Madoff-ize the fund publically just prior to the end of the tax year;

4. claim your investment was some huge multiple of what it actually was and that it's not your fault that the sociopath didn't record the "true" size of your investment;

5. write off and collect; submit claim and collect.

It's so within the bounds of expected behavior as regards the Wall Street Governmental Complex...

In answer to your two questions (IMO):

I am truly convinced "all this" will not end until they (the criminals of the Wall Street-Governmental complex) have utterly destroyed our country, and, thus, united a large part of the population into one vengeful fleshy mass of angst and hatred; a mass which will prove to be both capable of moving the "immovable" and "stopping the unstoppable" by virtue of doing the unthinkable...

In fact, I think it's too late for any reasonable alternative scenario to obtain; that, because the U.S. demographics, and, thus, the truly unavoidable math that describes those demographics, in effect, renders the entire market a late middle-aged version of Madoff's more "petite" senior citizen. What's worse is that fear and anxiety are known to cause premature aging...

Chris,

If you read this, would you consider doing a second video series on chicken plucking etc?

P.S. I think they (Paulson and Bernanke and ???) have as their sole strategy for postponing the firebombing of America one thing; ironically, they probably find their inspiration in the words of Albert Bartlett--or, at least, in a corollary to his famous presentation; that is to say: "The greatest shortcoming of the human race is [not the]... inability to understand the exponential function," it's the inability to add!

Paulson and Bernanke are counting on the average 6th-grade-math-enabled American to have no idea who to blame when their stock portfolio has recovered it's nominal value, yet they can no longer buy bread...

 

 

 

barrt's picture
barrt
Status: Silver Member (Offline)
Joined: Aug 25 2008
Posts: 171
Re: THE MADOFF DOUBLE-BLUFF
Nonzeroone wrote:

 

 I have to admit, I am no longer capable of anything resembling clear and objective thought with regard to the acts of the Wall Street-Governmental Complex.

Me too nonzero, me too

Would one of the more economically minded members of the forum care to comment on the total impossibility of all of those huge institutions being taken in by an old fashioned ponzi scheme? plus all the office workers and traders working within/ for it? it really is impossible to belive that this was possible

it really doesnt make any sense at all, not that much does these days but come on! what is the REAL reason behind the success of this scam? we the people are getting schafted again arent we?

anyone with an investment background have any thoughts?

cat233's picture
cat233
Status: Platinum Member (Offline)
Joined: Aug 20 2008
Posts: 575
Re: THE MADOFF DOUBLE-BLUFF

Barrt,

Nonzeroone has the answer to your question... 

Nonzeroone wrote:

P.S. I think they (Paulson and Bernanke and ???) have as their sole strategy for postponing the firebombing of America one thing; ironically, they probably find their inspiration in the words of Albert Bartlett--or, at least, in a corollary to his famous presentation; that is to say: "The greatest shortcoming of the human race is [not the]... inability to understand the exponential function," it's the inability to add!

Didn't you know on Wall Steet, 2+2= anything BUT 4 ???

Cat

 

 

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