Grifco Inc (GFCI)

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Was the defective IPMC shell part of the plan

or was it the flaw that derailed Grifco from the beginning? Even if the whole thing was planned as a pink sheet rip-off from the beginning (as witness the early, "big profits" PRs) you would think that the scam would have gotten further and lasted longer with a good shell for CTBG. On the other hand the defective shell was enough to hold Robinson Reed at bay for a year, answer the DTC's questions for a year after the "share dividend", and keep Swinford on the hook.

JD and Jarvis, as front men, took the fall but there are lots of unanswered money questions. Others in the crew may have made most of the cash trading the scam. TransGlobal Funding was specifically set up to trade lots of Grifco and CTBG stock and likely had information about upcoming PRs that made the price POP. Has Claude Eldridge been charged? Mike King was hanging around JD and Jarvis; did he also trade on insider information? I'll probably never know.

B2B, I think that there's plenty of blame for the unfolding crisis to go around. It was Clinton who signed the Gramm–Leach–Bliley Act that turned our financial system into a casino with securitization schemes and credit default swaps. Politics seems focused on stupid, old class warfare conflicts rather than addressing our grave fiscal and cultural problems. For example, here's W.J. Bryan from his "Cross of Gold" speech:

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"There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it."

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The only progress I can see in 115 years is that the phrase "leak through" has been replaced by the new phrase, "trickle down". Kids are dropping out of High school in large numbers and the Chinese are eating our lunch. Seems no political party has been able to do anything about it.

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