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U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung

 
Aussie from Perth
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User ID: 292207
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09/02/2007 09:34 AM
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U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
I bet this has really made some relevant people extremely angry.

Half the fun right now is watching all the shit float to the top.



U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung



September 1, 2007 (LPAC)--Lyndon LaRouche has lauded a Federal Bankruptcy Court Judge's Aug. 30, 2007 ruling, quashing efforts by Bear Stearns to assert Cayman Islands sovereignty over two of their New York-based hedge funds that recently went bust in the sub-prime mortgage blowout. "Look at what this means," said LaRouche. "The sovereign of the Cayman Islands and other off-shore entitites is the Queen. Will the British monarch concede that she will not extend protection to corporations attempting to use her territory as a means of defrauding American investors?" The court ruling has dramatic implications for the entire Anglo-Dutch offshore, unregulated financial system, at the heart of the global bubbble.

The Aug. 30 ruling by Judge Burton R. Lifland, of the United States Bankruptcy Court in New York, rejected claims by Bear Stearns that two of their now-bankrupt hedge funds, could file their bankruptcy liquidation proceedings on the Cayman Islands, rather than in the United States. The Judge did a careful review of Chapter 15 proceedings under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which allows companies primarily based abroad, to file liquidation proceedings in their primary location and receive U.S. court approval for those findings. In the case of Bear Stearns' High-Grade Structured Credit Stratgegies Master Fund, Ltd. and High-Grade Structured Credit Strategies Enhanced Leverage Master Fund, Ltd., Judge Lifland found that "The Petitioner's own pleadings provide the evidence to establish that the Funds' COMI ("center of main interest'') is in the United States, not the Cayman Islands. The only adhesive connection with the Cayman Islands that the Funds have is the fact that they are registered there... The Verified Petitions have demonstrated... there are no employees or managers in the Cayman Islands, the investment manager for the Funds is located in New York, the Administrator that runs the back-office operations of the Funds is in the United States along with the Funds' books and records and prior to the commencement of the Foreign Proceeding, all of the Funds' liquid assets were located in the United States... Thus I cannot grant recognition of the Foreign Proceedings as main proceedings.''

more at link

[link to www.investorvillage.com]

Last Edited by SPUD on 08/15/2011 08:14 PM
Anonymous Coward
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09/02/2007 11:18 AM
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Re: U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
Briefed on the Judge's ruling, Lyndon LaRouche declared on Sept. 1, "This is wonderful, because it puts the entire issue in the proper perspective. A U.S. Judge has rejected the idea of British sovereignty over what are fundamentally U.S. based financial entities, despite their 'letterbox' presence on the Cayman Islands. This is an assertion of U.S. sovereignty, against an attempted British invasion via the 'Pirates of the Caribbean.''' LaRouche added, "The Cayman Islands house some of the nasties crocodiles in all of the Caribbean. This is a ruling that has dramatic ramifications. I applaud the Judge's action.''
Anonymous Coward
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09/02/2007 11:30 AM
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Re: U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
bump
Anonymous Coward
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09/02/2007 11:48 AM
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Re: U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
The Cayman's also help a lot of small and mid-sized
american investors to grow thier retirement funds
free of the IRS and big brother raping them.

Thanks Larouche - you just opened the door to letting
them fuck us all....
Anonymous Coward
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09/02/2007 01:01 PM
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Re: U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
"The Cayman's also help a lot of small and mid-sized
american investors to grow thier retirement funds
free of the IRS and big brother raping them."

And they can continue to use the Cayman Islands as long as they don't try to declare bankrupcy and screw their investors.

Again, thank you, LaRouche.
Anonymous Coward
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09/02/2007 01:44 PM
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Re: U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
Anyone who favors to give US court proceedings jurisdiction over ANYTHING is ill informed. ALL US courts dance to illuminati/federal reserve orders. Of course, so does the Cayman court system. Until the US system is forced to become honest, fair, impartial and equal, to believe that which court system you're in matters is all mental masturbation.

If you want to know the truth about the 3D world system of lies and deceit, watch Michale Tsarion spell it out for you in his over 3 hour spellbinding explanation. You'll get the equivalent of a PhD in psychology in the process, if you can understand, remember and apply what he teaches.

In this present subject of the courts, he would point out that the controllers own both systems and they are doing what they want. They provide their own "enemies" to make us think that something significant is happening. It is all a diversion to attempt to keep us from discovering our joy, bliss, light within.

Google Tsarion 2012 and become enlightened, if you so choose.
WW RAUPP

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09/02/2007 01:46 PM
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Re: U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
The court ruling has dramatic implications for the entire Anglo-Dutch offshore, unregulated financial system, at the heart of the global bubbble.

I giggle at this sort of extreme stupidity
To shape the world is to become immortal
Anonymous Coward
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09/02/2007 02:31 PM
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Re: U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
"To shape the world is to become immortal"

A lie from a fool.

Immortal: "exempt from death"

Raupp, quote me the name of one world shaper that didn't die. You live in your own fantasy world of denial.
Anonymous Coward
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09/02/2007 08:33 PM
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Re: U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
There's RAUPP!!! Damn,I haven't seen a post from that nitwit for quite awhile so I assumed that he was either dead or finally taken to the funny farm.....Oh well,fuck it...he's back...shit!
Anonymous Coward
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09/02/2007 09:20 PM
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Re: U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
WEL, WWR , you HAVE heard from your public !

HE'S BACK ! Oh, SHIT !
AFP
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09/03/2007 01:28 AM
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Re: U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
If the Fed keeps pumping liquidity like they have been?? ... soon school kids will have the ability to start playing Jenga with their lunch money.




Mounting Worldwide Pattern of Financial Breakdown


Sept. 2 (LPAC)--Contrary to the financial press-directed myths, that "the markets have calmed down," there is a pattern over the past 48 hours, that shows the intensification of the systematic world financial breakdown, and the resulting panic coming to the surface.

** Speaking at the Kansas City Federal Reserve's annual conference at Jackson Hole, Wyoming, which many of the world's leading bankers and economists attend, economist Martin Feldstein delivered a panicked warning. "The economy could suffer a very serious donwturn," Feldman, President Reagan's former chairman of the Council of Economic Advisers said, presenting the possibility of a tightening credit crunch. Feldstein stated, "A sharp reduction in the interest rate, in addition to a vigorous lender-of-last resort policy, would attenuate that very bad outcome," and made the case for slashing the Federal Reserve's federal funds rate by 1 full percentage point, from its current 5.25% to 4.25%.

Also at Jackson Hole, Federal Reserve Board governor Frederic Mishkin said Sept. 1, that "central bankers should ease monetary policy quickly and aggressively in response to a big fall in house prices," according to the Sept. 2 Financial Times.

(Economist Lyndon LaRouche has made it manifestly clear that the money-pumping proposals of the type that Feldstein and Mishkin advocate, would create a hyperinflation by far more serious than that of 1923 Weimar Germany.)




[link to www.larouchepac.com]

Last Edited by Phennommennonn on 10/07/2011 10:31 PM
AFP
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09/03/2007 01:46 AM
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Re: U.S. Bankruptcy Judge Asserts American Sovereignty Over Cayman Island "Letterboxes"; British Are Stung
Everyone is paying through the nose for food. Same situation in west OZ.



AGRICULTURE: EIR Study 'From Food Shock to Famine'

A rise of 8% in U.S. consumer food costs this year is projected by the Bureau of Labor Statistics. An upcoming EIR Study of the hyperinflation of food prices reveals globalization to be the underlying cause.

But it was only with the painful suppression of FDR’s legacy that globalization was allowed to depress the world. As Americans unite around today’s necessity to solve the current crisis in housing and banking, the principle of FDR’s leadership cannot remain lost for long, if we triumph. Thus, as we review the case of food hyperinflation, consider it with FDR kept in mind. Only the dullest of minds have enough empty space up there for fat Al Gore’s food policies: “Feed me, and let the darkest starve first.”

Globalization has led to food hyperinflation in two ways: (1) Through the subordination of the priority of feeding people to the priority of stuffing the bankers, disguised as bio-foolery (i.e. the ethanol and bio-diesel craze). (2) Through the active takedown of farms by agro-cartels and their financial conspirators, under the mantra of ‘globalization’.

Are the following results actually desired by your Congressman, or are they simply intoxicated by ethanol?:

**World grain stocks have dropped! Just consult the Aug. 10 World Agricultural Supply and Demand Estimates issued by the U.S. Department of Agriculture. The case of rice makes the general point. A staple diet for over 3 billion people, rice ending stocks may sink to 74 million metric tons (mmt) this year, way below their previous—and still inadequate--levels of over 152 mmt, and far below what the U.N. Food and Agriculture Organization considers to be a safety level.

**Despite rising world output of corn and coarse grain, the fraction available for food and livestock has dropped, due to the heavy demand of the ethanol distilleries.

**In the U.S., wheat plantings were lower this past year too, as farmers switched to corn. This, combined with reduced output in other parts of the world wheatbelts, due to weather and other factors, has resulted in short supplies following the Northern Hemisphere’s wheat harvest.

** World dairy products of all kinds (powder, butter, casein, etc.) have also become--relative to need--scarce in recent years; dairy prices internationally have spiked 50 percent in the past six months.




[link to www.larouchepac.com]

Last Edited by Phennommennonn on 10/07/2011 10:31 PM

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