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May 2012 Edition ----

Please peruse our resently updated evidence (or proof) of the Government backed Feltex IPO robbery. Click here.

Well (the word the Deputy Prime Minister frequently uses) the quad-annular silly season is almost upon us and we wish to take some time to emphasis its nature. Its not really just the silly season of course, its the absolutely outrageous total stupidity season which destructs economies and kills or maims the unfortunate. A little bit of the evil nationalism is ignited in almost everyone of us and because of its universality it becomes a very large and destructive force.

We are referring of course to the Olympic Games. We confess to having sat by the telly and been fascinated by the spectacle while desperately wanting our countrymen/women to win. It becomes a the most common national language and herein lies the pitfall. Politicians want to make the wins happen. But the only way to do that is to cheat in a way that is not officially detected. Well every country wishes to do that so to the extent that it is possible it naturally is most expensive.

Much cheating involves around use of drugs. If there were no rules about drugs the winning athletes would be those prepared to donate their lives for a possible victory. They would die a few minutes or months or years later. Even with rules this sometimes happens. So rules are essential and the effort goes into getting around them.

So let us come at this New Zealand problem from another angle. NZ ranks about country number 123 in terms of population size out of some 200 countries but usually ranks in the mid twenties for medals.

On http://www.medalspercapita.com/ it is shown that NZ ranks 7th in terms of medals per capita and 5th in terms of gold medals per capita, NZ was 32nd lowest in terms of GDP per medal and no other OECD country was ranked lower.

Jamaica and sometimes Australia were the only significant countries to beat NZ in these statistics. The story would seem to go back to the 1984 LA Olympic games where the eastern European block boycotted the games at the last minute and a largely laissez-faire Government had secretly been elected in NZ. NZ won eight gold medals and Australia did not win any. Naturally Australia got a lot of, light hearted perhaps. flack from across the Tasman and they set up a national institute of sport vowing that this would not happen again. Well if you apply a lot of good brains to a project one can sure turn things around even if the rules are not breached but then again such brains are likely to find ways to safely break the rules. Anyway both countries did quite well at the Olympics until NZ dipped out somewhat at the Sydney Olympics of year 2000 getting only 1 gold and 3 bronze.

We think Australia has offered the services of the international crooks who had been advising them, to NZ. Thus was dreamed up the Feltex IPO to raise funds from naive investors which was duplicated by Finance Companies for the next 5 years so crippling the economy. Australia is wrapped up in certain features of the IPO. Jane Diplock who was the NZ Securities Commission chairperson and from there the chairperson of the International Federation of Commerce Commissions was an Australian. She has returned to Sydney University. Keitha Dunstan, an Australian was also on the Securities Commission quorum which "investigated" the Feltex IPO. She was "the founding Director of the Centre for Accounting, Governance and Taxation Research at Victoria University of Wellington" which we think was a complete jack up. The centre has closed down now and should never have been set up. She has gone back to Bond University in Queensland but they will both be coming back here for a stretch if we have anything to do with it.

Then of course Ernst and Young have "unfortunately" got their systems in a twist because Feltex was effectively domiciled in Australia but the directors wanted it to be seen as an NZ operation. This confusion, they would claim, is sufficient for them to have no responsibility for these audits whatsoever.

Well anyway that it is where it is with the Olympics. Because most everybody takes an interest in it there is too much money in it making it really a competition to find out who are the biggest cheats to get away with it. We think the directors of the organisation are tied up in a scheme to sell cheating rights for an "acceptable" number of medals. The body samples collected are not genuinely analised if one has bought cheating rights for the event. They were earning from gifts from cities wishing to host the event until that was exposed so have moved on.

We are amused by arguments put up for New Zealander Valerie Adams to be recognised as the world record holder in the shot put. The official world record is held by an eastern European nation for a performance when those nations were winning all such events by huge margins. It is accepted that Adams has no chance of beating it. The argument goes that because drugs were likely to have been the major reason for the world record it should be forfeited and given to Adams. Our Valerie of course would have nothing to do with such cheating. It is people from other nations that should be suspected of that sort of thing.

But at the 1974 Commonwealth game in Christchurch NZ got a swag of medals in the weightlifting, but never did much good in that sport before or since. A gold medal winner Graham May later confessed to taking drugs to improve his performance. He died at the age of 56 of a heart condition.

We are convinced that this corruption has spread to all levels of the judiciary especially female elements, probably including the Chief Justice. There were photos at some stage of NZ females who were top dog in almost all fields of endeavour, although not so much in science. That has all dissipated long ago except for the Chief Justice who will be there for some time yet as a matter of law. That is a problem. The chief coroner is male but he is not prepared to investigate the accusation that Paul Wilson and David Gaynor have been bullied to death in the cover up of the Feltex IPO robbery.

More funds have been dragged out of the Feltex would be investors by way of funding a recovery action. But we say the courts are just dragging out the action and there is no hope of success because the courts have no intention of allowing it and the man heading the appeal knows it. He has been part of the Fay Richwhite camp in the past and that is why he has been selected to do this job. He just mucks about changing his witnesses and legal counsel. The next step is in the Court of Appeal in August. That will have been on the books for about a year. There is no attempt to get a result in a timely manner. As each year goes by the resolve of the investors diminishes, by deaths, frustration and other causes.

We change topic. Rupert Murdoch is in the news accused of improper alliances with British politicians. It should not be forgotten that he was effectively the sole owner of Newscorp which in year 2000 sold a 50% share in a worthless airline Ansett Australia to Air New Zealand for close to $1b. Air New Zealand went broke because of that and had to be bailed out by the taxpayer. It is too easy for the Air NZ directors and closely associated politicians to have received kick-backs from Mr Murdoch. Perhaps $100m which have left Mr Murdoch with about $800m. This and the bail outs of the Bank of New Zealand a decade earlier indicate that the partial asset sale scenario is not stable. We need career state employees in charge of fully owned state assets, the stable way it used to be.

And back to the improper election of an National MP which is making these partial asset sales possible. The Electoral Commission claims that "It is clear from the Electoral Act 1993 that candidates for a party are those that were nominated by that party under Part 6, whose party name appeared on the ballot paper below those candidates' names pursuant to s 150(6)(d), and whose party logo appeared by the candidates' names pursuant to s 127(7)(d)". What a lot of codswallop. We operate under a principle of substance over form. Candidates "for" the party are candidates which the party tells its supporters that it wishes to win the constituency. This is not necessarily the candidate "of " the party" which the party nominated under Part 6, whose party name appeared on the ballot paper below those candidates' names pursuant to s 150(6)(d), and whose party logo appeared by the candidates' names pursuant to s 127(7)(d). It was never intended that a party could nominate one candidate and then ask its supporters to vote for another candidate and so get an extra vote in Parliament. The Electoral Commission have a election calculator on their website and also publish the official 2011 election results. If one puts the results into the calculator but increase the National constituency seats won by one and reduce the ACT constituency seats won by one to zero, the result is one more seat for labour (Carrol Beaumont) and one less for National (Cam Calder out). The Electoral Commission has a duty to amend the election results. That will stop the partial asset sales. The people campaigning to stop the sales should be pressuring the Commission to correct its findings.

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