Canada’s stock market is populated by scam companies (see “the 900 zombies” post below) holding worthless properties that to a very high percentage (one in 5,000 is a typical figures bandied about) will never become an operating mine (let alone a profitable one). You don’t need to be a rocket scientist to look at the history of the junior market, see all the failed companies, the rollbacks, the restructuring deals, the endless rounds of dilution, the broken promises and the lack of will by authorities to clean up the mining sector to know this.
These moose pasture peddlers can only get their shares to rise by BS pump methods and the officers of these sham fake companies want the cash for one thing only; their back pockets. So they run to the parasitical promoters, by which I mean brokerage firms, financial institutions, commentary media, newsletters, marketers etc, who make their money by charging what are basically legalized bribes of highly dubious morality to companies in return for coverage.
The same people front-run their own recommendations, buying shares in companies then selling when they release their reports, leaving retailers holding the bag when the pump stops. They may claim not to do so, but their excuses and sophisms that leave out key facts and allow themselves loopholes (in case one of these fine days somebody finally sues the merry hell out of their two-faced asses) make it plain they’re up to no good and making quiet, under-the-table cash.
The recent rise in gold has seen these excuses for human beings come crawling back out of the woodwork and, their desperation to fill their bank accounts with your money after two long and barren years, has resulted in some of the shrillest and blatant examples of pumping I’ve witnessed. And when one simple, free-to-own and free access blogspot blog points out these plain facts, notes that for every success there are dozens of failures, explains how retail investors face an uphill struggle, a playing field tilted to their great disadvantage, layers of people who want to put themselves between them and a potential winning trade (each one getting their slice of the money first) and
starts shining light on the whole sordid, back-scratching industry, they
don’t like that. Not one little bit.
starts shining light on the whole sordid, back-scratching industry, they
don’t like that. Not one little bit.
UPDATE: Reader ‘RR’ mails in (main excerpt):
“…the more IKN haters the better. Winston Churchill said “You have enemies? Good. That means you’ve stood up for something, sometime in your life.””