Archives for September 2014

Bartercard Defends &Threatens


Bartercard’s foot-in-mouth performance leading up to Cancun with a defensive, hit-piece containing pleanty of spin

The day after I finished or thought I had finished The Barter Series, the tipline has supplied me Bartercard’s formal communication to the industry defending itself from the thrust of my blogging, that they are a dishonest and unethical company; have misrepresented their true position in their Prospectus and that they did a dodgy deal with IRTA not in the Members’ best interest. Trevor Dietz’s communication tells the world that Bartercard are the good guys; that I am a conspiracy theorist; he is threatening to to sue me in multiple countries and that he is going to Cancun and is willing to talk. Well spare me days – not even Daniel Evans was that stupid! Bring it on Trev . . . let’s get it all out in the open! [Read more…]

Open Letter to IRTA Members

In this last post in the Barter Series I write to the IRTA Board Members summarising my concerns and giving the Board notice that they are exposed, personally if there is fraud identified within the Universal Currency system. [Read more…]

Fixing IRTA

cancun-cancanFollowing requests from people wanting to know how to make a difference in the troubled organisation IRTA I discuss the process of change. I give options for affecting change, and summarise the key issues and how I see them being addressed. I hope it helps. [Read more…]

Fixing Universal Currency

cancun-waterfallIRTA’s flagship currency, Universal Currency has been offline for 24 hours. It’s a broken and bankrupt operation long past a crisis. In this post I explain how the IRTA Members (who are its ultimate owners of the currency) can resurrect it and rebuild the brand up to something of merit. It won’t necessarily be easy but it is simple. Having spent six weeks or so lancing the boils at IRTA, I’m trying to turn a corner with my blogging and commence offering constructive guidelines for nursing things back to health. [Read more…]

IRTA’s phantasmagoria

nice-puddy-tatIn this post I list the four components of IRTA’s phantasmagoria [lit: a sequence of images like that seen in a dream (real or imaginary)]. [Read more…]

IRTA & UC fight back at GETS


IRTA’s Executive is trying to pin the tail on the donkey. They’ve recently snubbed their new owner/business partner Bartercard; teamed up with the guy who was previously suing them and is now lashing out at the old partner letting out a whole bunch of their dirty laundry in the process . . . OMG! Is this a drama, a sitcom or real life?

IRTA’s Executive Director Ron Witney slipped a memo out to Universal Currency members responding to the termination of trading on the UC platform. He quotes from the GETS Report and essentially says, Richard Logie has a personal agenda, the Titanic is NOT sinking and to trust him and the entire UC Committee. Oh boy! Crack open a cold one, folks . . . grab your popcorn and lean back in your armchair . . . this is going to be VERY interesting! I reply to IRTA’s brutal underhand attack on Richard Logie personally by publishing the notice, then addressing each issue raised and compare the FACTS against the spin. It’s a very direct, devastating and equally brutal response to one of the most despicable pieces of spin I’ve seen from the IRTA Executive. Enjoy. [Read more…]

IRTA’s Universal Currency is OFF!

webturtle-arrivesGETS Technology has now turned off trading on the Universal Currency platform. My four letter word for today is: ‘Good’! Now IRTA can address the issues I’ve been talking about. In due course no doubt Bartercard’s Webturtle will roll onto the scene to save the day [choke, choke]! GETS’ action was no surprise for they gave notice following a string of events that included backroom character assasination, deliberate deception, my public threat to sue them if they continued to support fraud and years of mismanagement, nepotism and outright fraud by the Administrator/owner, IRTA and the IRTA Executive. If this post reads like a suspense or spy-novel, just ask any UC member if they can trade today – they can’t. The brains at IRTA will be thinking only one thing . . . and it will be a different four letter word from mine! [Read more…]

Bartercard (BPS TEchnology) Shares in Freefall

bartercard-share-fallTrading has just finished on the second day of BPS Technology’s trading on the ASX. Shares are in freefall at close of business with shares 90c down still further from 96c on the first day. There’s a long way to go yet before the market price reflects the true value of BPS, which I estimate to be a liability of around -$3.00. [Read more…]

Analysis of the Bartercard CON

Analysis of the Bartercard con. Click to view the graphic (878k JPG).

Analysis of the Bartercard con. Click to view the graphic (878k JPG).

This post gives commentary to a graphical image of the Bartercard operation detailing the various aspects of what is essentially a CON . . . a business based upon serious deception. Bartercard is best described as an insolvent Ponzi scheme with massive undisclosed debt, and unethical conduct directly flowing from their leadership. The numbers below refer to the green numbers on the graphic – best to click to view the large JPG image (878k). [Read more…]

Bartercard’s Friends, Family & Fools

Bartercard's "NO DIVIDEND" mantra will continue . . . for good reason

Bartercard’s “NO DIVIDEND” mantra will continue . . . for very good reason! BPS is a PIG.

Bartercard has just listed on the ASX (BPS) and the share price immediately dropped. This trend will continue. I advise all investors to sell now quickly, if they can, for the share price will surely only drop further as their various activities continue to come to light. In this post I detail how they secured their funding, following the money and analysing their top 20 shareholders. This is a company that is essentially funded by friends, family and fools. Enjoy. [Read more…]