Reader Interactions


  1. So let me see if my understanding is correct. He obtained goods and services and spent his credit limit at FMVwith other Bartercard members and as he is no longer aable to sell goods at inflated prices on the auction site now crys “ it’s so unfair”
    Unfortunately as is typical with hypocritical traders ( who incidentally create many of the issues that impact on Bartercard and its market perception ) he want to have it both ways and complains when he can’t.
    He helped create the issues that you consistently mention about Bartercard and it’s ironic that you choose to defend him.
    He could easily have traded out of his debt but because he couldn’t continue to price gouge chose not to.

    • Thank you for your comment here Dafyd
      I’m not sure where you have gotten some of your conclusions from for I haven’t shared details of this court case yet, only generalities, and big picture level bullet points of the key arguments. You are also not specific. When I get to report on and explain the trial you may see that this trader has bigger issues against Bartercard than simply cash conversion by the currency operator seeking repayment in full. Furthermore you have concluded with incorrect assumptions. The issues that I have blogged about extensively are nothing to do with this trader’s conduct, nor his Defence. It’s the other way round! The primary issues for me are deception; a massive undisclosed trade deficit and immoral conduct from BC staff & management. These all relate to Bartercard’s conduct, from which all members have suffered. When ASX:BPS deceives the public on launch and ever since, this is corporate greed and p*sses me off because the usual reason for lies is to cover for crims doing crooked things. The little people like Down (and I presume you) pay in the end – always! The second issue is the primary issue with BC – the currency is devalued. Debasing a currency occurs by those who issue it and control it. The core reason that it devalues is because value has been sucked out of the exchange and this can only be as a result of Bartercard’s actions. Traders hike their prices or seek the best return because of inflation within the currency. That is only natural but it’s actually Bartercard’s responsibility – read their Rules and study Mutual Credit accounting systems then apply logic and you can see that like in the cash economy, the traders, the people only respond to the perceived value of a currency which is issued and managed by someone else. In this case it is BC. BC have pilfered from the system for 30+ years, thus the huge trade deficit, which they hide off-balance. Thirdly, a high portion of BC staff and management are crooked to the core, which is what started to come out in court yesterday and the day before. No compunction lying, these people have been flushed out of their leadership role at Board level as the new CEO gets his teeth into the problems and Down is flushing out more of these crooks through the court processes. When one lies in an Affidavit given to a court, this is called perjury and is a criminal offence. Lying in my book is WRONG, even though it may be normal in some quarters. Whether Down is a hypocrite or price gouged or not is not my care. Whether he has been wronged or not is. He has. He asked for help. I helped at huge personal cost and I am intensely proud of that assistance I gave him when he needed it. When the full story comes out about BC AND Down, people will appreciate much more what I do and why I do it. If FMV is accepted in court and the difference between FMV and the NZD is deemed a penalty, then the legal doctrine of penalties may apply. If it does, then trust me, this will be the final nail in the coffin for the Bartercard behemoth. I will be blogging about the trial in due course. Standby!


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