IRTA’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 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…]
GETS 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…]
In this post I analyse the entire IRTA Board Members’ Universal Currency accounts one-by-one looking at historical performance and spotting trends. Some accounts are in good standing but others are NOT. Except for two, I keep the actual names of the IRTA Board Members confidential but any UC Member can identify their Board Member of interest’s historical balances. I show you how to view these graphs in real-time. There are some real shockers in there with Bartercard’s insane indebtedness taking the cake. [Read more…]
In this post I continue my expose of the nepotism, mis-management and illegal conduct at Universal Currency, IRTA’s flagship operation, and for many the only reason that they joined and remain IRTA Members. I work here from the actual figures esily visible by any UC Member. It’s a shocking pattern that is DEFINITELY only the tip of the iceberg. I show that even based on the visible data, without even taking into account the hidden data which has huge toxic debt, Universal Currency is nothing more than Fool’s Gold. [Read more…]
This post is an URGENT public call for the immediate suspension of trading within the Universal Currency trading platform following my expose of fraud within the system, exactly 24 hours ago. Mismanagement of the UC Currency has and will continue to expose traders to unreasonable risk based on fraudulent conduct by the Administrator, IRTA. An unreconciled accounting system for a start indicates deliberately hidden information let alone a plethora of unanswered questions. I show how IRTA’s responses to a crisis situation indicate a deliberate attempt to obfuscate and distract. This is a serious situation for all involved. [Read more…]
Finally, almost a week after BPS Technology informed the world that they had negotiated a secret exclusive edorsement of their technology for the next 15 years, IRTA has confirmed this with an email to selected members of the industry. There is still no mention of this stunning agreement on the IRTA website yet*, so here is the formal announcement from IRTA, in full:
UPDATE: IRTA emailed this announcement to selected members of the industry and no notification was made to the public. After I blogged the announcement the notice was quickly placed on the www.irta.com website. It was then removed from public view and is not now visible. Why would IRTA not want it visible any more? This bahaviour makes Mickey Mouse look like a genius and raises more questions about the way the secret deal was struck (if indeed it even was properly ratified by the IRTA Global Board); the way the whole saga was handled and the competence and integrity of the perpetrators of the nonsense!