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Recently, the CEO of popular online shopping website Overstock.com, Patrick Byrne, PhD. sat down to discuss Naked Shorts, Bust-Outs, and the Once and Future Cataclysm: Economic Warfare as an Instrument of Transnational organized crime. What does all of this mean? In Byrne’s video, he covers a brief history of organized crime taking place right under our noses in the form of economic warfare. Giving examples of this atrocity happening in the past, Byrne breaks down how and why economic warfare occurs and how it is being used as an instrument of transnational organized crime.
Partick Byrne Discusses Economic Warfare
In the above video, Patrick Byrne goes into great detail regarding some of the most shocking and detrimental instances of economic warfare to ever take place. While the subject is a very complex one, the video is definitely worth watching in an effort to bring awareness to a problem that many are unaware of. Here is a breakdown of what Byrne brings to light in his presentation:
‘The Red Pill’ – At the beginning of his presentation, Byrne points out that the scenarios that you will learn about in this video are a bit like the Hollywood blockbuster ‘The Matrix’. Choosing to swallow the Red Pill will make you aware of the underpinnings of the financial world and exactly how corrupt it is. He uses court case ’2006: United States vs. Milberg Weiss Bershad Schulman’ as an example of law firms who targeted companies that were about to collapse and filed lawsuits against them on behalf of false plaintiffs. The real jaw-dropper in this case is that the corrupt law firm knew weeks ahead of time that the given company was going to collapse. Taking advantage of this seemingly impossible knowledge, the law firm was turning a large profit by using classic stock market manipulation.
‘The Bust Out Pattern’ – During this portion of his presentation, Byrne describes the process of plundering a business for profit before destroying it, otherwise known as a ‘Bust Out’. This process involves having an inside man in any given corporation to leverage the business up to the point of owing money, subsequently depleting all of the cash in the business, then burning it down (literally or metaphorically) when the end comes and bankruptcy rears its head. This is an example of how the above mentioned corrupt law firm knew about the businesses going under, weeks before it actually happened.
‘Bust Out In Action’ – Byrne goes on to elaborate and chronicles the 2001 fall of MJK, one of the largest clearing brokerages in America, while involved in a deal with Native Nations Securities and Genesis Intermedia. He describes the entire bust out scenario in action after revealing that Genesis Intermedia was, in fact, involved deeply with mafia organizations, as was Native Nations Securities. After a wave of bankruptcy eventually shut down all three companies, the shock wave was felt through out economy over the loss of MJK.
‘Terrorist Ties To Mortgage Fraud’ – In this portion of his presentation, Byrne mentions how mortgage fraud is one of the fastest growing white collar fraud crimes taking place in America. Even more disturbing is how deeply involved Hezbollah, Hamas, and Islamic Jihad have become in this particular fraud ring.
‘In Conclusion’ – Byrne ends his presentation by asserting that this type of bust out process is happening against the United States. He impresses upon his audience that regulations need to be tightened around the settlement process in order to protect our national security, as well as our economy.
After watching the video, I was shocked that this is still an issue in the United States. While I feel that the issue is complicated enough to not be at the forefront of interest to the vast majority of the population, I think that if everyone were to watch the video and understand the problem as Dr. Byrne has broken it down, they would see that this is a very serious issue that is sure to continue plaguing our financial systems unless it is addressed. I urge you to watch the video and share your thoughts in the comment section below.
Faith O’Neil is the Managing Editor here at Geek Insider. When she isn’t writing or keeping up with the latest tech news and trends, Faith enjoys MMO gaming with her husband, reading, and spending time with her kids. Follow me on twitter @FMOneil