Promotion of Accounting Reform as the most effective Pathway to a Fairer Safer and more Prosperous Society. Comment and Support from all quarters is Sought to straighten out NZ's problem
September 2015 Edition
We submit the following design for a new flag of New Zealand. We understand that the choice of designs for a new flag is to be opened up again.
This flag continues the message of the current flag in implying a close association with Australia. It is of course an extract from page 37 of the prospectus of the year 2004 offer of all the shares in the New Zealand company Feltex Carpets Limited. Feltex was a long standing New Zealand company but in the year 2000, under the ownership of a Credit Suisse offshoot, it bought the carpet manufacturing operations in Melbourne Australia of Shaw Industries, the world’s largest carpet maker. It does not seem to have bought any of Shaw’s carpet brands however. With falling tariffs Shaws had no doubt decided that it had been become more economic to supply the Australian carpet market via offshore manufacture. Having given the clapped out Australian plant a respectable name to NZ investors it awaited a scheme to sell the company to NZ suckers (ie amateur investors who expected the Government to weed out obviously fraudulent investment offers before they got off the ground). It first got the secret approval of the Australian and New Zealand Governments and major opposition parties to sell Feltex under the guise of it being a thriving company. With the help of Austrlia NZ set up a crooked judiciary and crooked regulation authorities so that the share issue would be a “success”. In turn it was agreed that much of the funds would go to enabling NZ to cheat gold and silver medals at the 2004 Athens Olympic games. Australia already had such a cheating system in place for its athletes following its “humiliating” failure to obtain gold medals at the 1984 Los Angeles Olympics despite the then widespread cheats, the eastern European nations, not being at these games. NZ won 8 golds that year but only one at the Sydney Olympics in 2000 prompting Australia to share its cheating expertise with its eastern neighbour.
This above flag is truly inspirational in that it shows just how crooked the nation can get when it puts its mind to it. The 1.7%p.a. quoted in the narrative is the compound rate which turns the 1993 figure (44687sq meters) to the 2003 figure (53076). But this has no relevance to what the trend of the figures of the past 10 known years predicts the 2005 size to be, as Feltex imply by quoting the 1.7%. The market sizes of only two years were used in that calculation despite the graph showing 11 sizes and of those two 1993 was the least relevant of the sizes and outside the standard 10 year time range. More than two such sizes need to be used to genuinely predict what the year 2005 will be. Feltex have there implied that that the 2005 size will be 3.4% greater than the 2003 size and adopted a 2005 size 2% greater than the 2003 size for its projections in the prospectus. Using least squares regression analysis the percentage change predicted for the 2005 size over the 2003 size are as follows:
Using the sizes of the 3 most recent known years predict the 2005 size to be 6.1% greater than the actual 2003 size. Using the sizes of the latest 4 years predict a 2005 size 5.2% less than 2003. 5 years of sizes predict 2005 to be 3.2% less, 6 years 2.5% less, 7 years 1.9% less, 8 years 0.9% less, 9 years 2.3% less, and 10 years 2.7% less. There is a consistent calculation of the past years results saying that 2005 will be less than 2003.
The predicted market share of Feltex was also rigged in the prospectus It was continually falling by 5% of feltex sale but this slide was “predicted” to turn around. It is obvious that when the proceeds of the share offer was received a cash inject was made into Feltex’s sales account to “halt” the slide temporarily so that the IPO would not be rendered void.
This financial cheating to finance sporting “success” continues with the “investment” by the NZ Superannuation Fund in the Portugese bank Banco Espinto Santo just a week or so before it was announced that this bank was in liquidation with these deposits lost. NZ Superannuation Fund claim that the reserve bank of Portugal had guaranteed these deposits and the Fund was taking legal action against this reserve bank which “nicely” closed off the need for much discussion on the matter. The Fund has no similar investments. The money has quite obviously been deemed to have been put there via the finance house (of low reputation) Goldman Sachs so that it could be said to be unfortunately lost when in fact it has all gone either for paying for gold medals at next year’s Olympics or to the parties eg BES and Goldman, which are providing the subterfuge. The Government did a similar leak from ACC funds in the year 2000 when corrupt ACC officials “bought” half a million dollars worth of National Mail shares about 10 days before it was announced that that company had virtually collapsed. Anyone could see that collapse coming. Credit Suisse facilitated that theft representing one party to the deal as Credit Suisse F B and the other as C S First Boston. No doubt some of that money went to Olympic support. It was a trial run. Credit Suisse has been a major facilitator in the Feltex rout as summarized above. ACC put $9m into Feltex. The only NZ institution to put anything in. The Australian “ethical investment” finance house put in about $39m which would seem to be Australia’s gift (along with a raft of corrupt officials) to get the enhanced cheating regime off to a “good” start.
To view our conclusive evidence that the Feltex IPO was instigated by the major political parties to rob investors to finance cheating of Olympic medals click here We have revised our presentation of this evidence mid October 2014