Archives for August 2014

Open Letter – Carl Steinbrenner

steinbrennerlawIn this post I publish an Open Letter to IRTA’s lawyer Carl Steinbrenner informing him of a potential conflict of interest in regards to participating in the Universal Currency and at the same time representing the Association that has and is currently mis-managing that currency. It’s another sticky situation for the legal-eagle who is right in the thick of it. He’s in a real bind if he takes on the case, especially if he takes UC Trade Dollars as the form of payment. Coughing up cash though would be an ‘ouch’ for IRTA who has a seemingly endless pot of UC gold at its fingertips and not much of the ‘readies’! [Read more…]

Defamation against IRTA

irta-letter-of-claimIn this post I share the content of my lawyer’s notice of claim against IRTA for defamation. There is no need for comments or further explanation as the letter of claim is very straightforward. [It’s easier to read the downloadable PDF]. [Read more…]

Who’s flying the plane IRTA?

Look, Houston, will you PLEASE leave us alone? We've got record airspeed and everything is normal. Got that? N-O-R-M-A-L! Even the computer is encouraging us to have a party!

Look, Houston, will you PLEASE leave us alone? We’ve got record airspeed and everything is normal. Got that? N-O-R-M-A-L! Even the computer is encouraging us to have a party!

In this post I discuss the ramifications (yet again) for an Association in deep doo-doo over Universal Currency. The problem has arisen from my revelations of fraud within their accounting system. Their handling of the crisis mimics their getting into the crisis – nobody appears to be actually flying the plane! [Read more…]

Universal Currency – Trading Suspension

uc-stopUniversal Currency technology providers GETS has given IRTA notice that they will suspend trading and terminate their contract effective in 14 days (September 11, 2014). In this post I give commentary on the significance of this move, how it came about and what options IRTA has moving forward. This is a huge call on the part of GETS and will have significant ramifications for many people in the industry, short and mid-term. It’s not necessarily a terminal situation for the currency but it could be if the crisis is not managed well. [Read more…]

Open Letter to Bartercard Directors

In this Open Letter to Trevor Dietz and the other Directors of Bartercard, I advise them of the concerns that I have over their IPO; inform them of my intent to continue examination of their business and continued blogging of their business conduct. I detail specific areas of my concerns and call on them to suspend the IPO until the issues are addressed in a professional and ethical manner. [Read more…]

IRTA’s hiding more than I thought

uc-factsMy Tipline is showing me daily that there are a lot more skeletons hiding in the Universal Currency cesspit of corruption. I now have a whole bunch more questions relating to the hidden accounts; the operations of UC; the inaction and outright incompetence of the IRTA Board in letting a vitally serious situation fester and balloon totally out of control. [Read more…]

IRTA’s Catch 22

irta-catch22In this post I discuss the various interest groups associated with IRTA and what their options are in regards to dealing with the Universal Currency fraud. As I see it, everyone is in a Catch 22 – Executive Director Ron Whitney, President Annette Riggs, the entire IRTA Board, IRTA’s Lawyer Carl Steinbrenner, Bartercard and the Members are all to some extent in a Catch 22. [Read more…]

I must sue IRTA

irta-judgeThis post is notice that I have no other choice but to initiate legal action against IRTA involving all Office Bearers within the organisation, specifically naming President Annette Riggs and Board Member Ron van Hilten but as well as them, all participants in the fraudulent conduct of Universal Currency. I detail who I have to sue and who I will be working on behalf of. I share why I am doing this and how I will be continuing to expose the nepotism, deception, coverups and outright corruption within IRTA, it’s collaborators and new owners – Bartercard. [Read more…]

Bartercard’s Prospectus changes are a joke!

bartercard-pigBartercard revised its Prospectus shortly after my blogging highlighted serious concerns. In this post I summarise the changes and make comment. Bartercard appears to be following in Microsoft’s footsteps – issuing a faulty product, responding to negative feedback and then quietly issuing an update once the public has found the bugs. I should be sending my bill for proofing and legal advice to them an requesting a decent slice of the $3m they claim that they paid to produce the first dodgy document! The changes also reveal some real doosies of double-talk. I end with direct advice, the IPO is a pig, the company will never in a month of Sundays achieve anything like its projections and my recommendation is don’t invest. [Read more…]

The Barter Series – Summary

This post summaries The Barter Series in which I share the future of Barter, explore the Bartercard IPO (2014); the secret Bartercard/IRTA deal in which IRTA secretly offered Bartercard an exclusive endorsement for their software product as the best in the industry; the politics surrounding a corrupt and ineffective Board, and the fraud, mismanagement and nepotism involved in Universal Currency, IRTA’s flagship that is grossly overvalued. [Read more…]