Tuesday, February 15, 2011

Ponzi at the highest level, however CFTC goes after the super small fry

CFTC Charges Two North Carolina Residents and their Company, PMC Strategy, LLC, with Fraudulently Soliciting at least $669,000 in Foreign Currency Ponzi Scheme
Mon, 14 Feb 2011 16:28:00 -0600

The CFTC filed an anti-fraud civil lawsuit charging defendants PMC Strategy, LLC of Monroe, N.C., and its principals, Michael Hudspeth of Statesville, N.C., and Timothy Bailey of Monroe, N.C., with committing fraud in connection with operating a foreign currency Ponzi scheme that solicited at least $669,000 from more than 22 individuals since June 2008.

Above article from an email received.    I guess they like to get the "easy kill" The biggest Ponzi is playing out in front of our faces, if you are paying attention you have a front row seat for a multi-hundred year event.

I noted just in the last week, numerous references in the web news and editorials to a "failed economic system", worldwide.   Indeed the combination of vacacious  economic theory (held strong, head strong, almost like a religion) and poor politics has created an "epic fail" situation

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