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Albania and Dictatorship
Posted on Friday, January 02 @ 09:51:15 PST by classiclady
Madoff Is Deja Vu All Over Again in Albania
January 1, 2009
H.E. Prof. Dr. Sali E. Berisha
Republic of Albania
First, I must extend greetings for a Happy New Year
to the office of the Prime Minister.
Communist Propaganda on millions of Slogans on every streets of Albania claiming "The Victory of Socialism over Capitalism"
The year 2009 could give us the opportunity to find out if you are truly interested in resolving issues
By Gary Q Kokalari - sent exclusively to ACLIS.
about Albania's communist past or if you are just trying to use your former communist comrades as tools to help you manipulate the judicial system to immunize you and your family from criminal prosecution that may arise from the Gerdec tragedy, the AEY scandal, crooked land deals and other corrupt practices.
If you are interested in true justice you should start by prosecuting those who committed the most heinous crimes against humanity under communism.
This refers to those who were murdered in cold blood by your communist comrades, crimes that withstand any statute of limitation.
People like Syrja, Mumtaz, Vesim and Salim Kokalari and the members of many other families who had their loved ones executed without trial not because of anything they did but because of their beliefs. Certainly an analysis of the victims' files could provide clues about who ordered their deaths and who served as executioners.
Then, if any of the murderers are still alive, justice should be brought to them. And for those murderers who passed away, the rest of Albania should know their identities so that their names can live in infamy.
To help guide you on this investigation, a book written by Tomor Aliko in 2007 includes a list of the victims of the Albanian genocide committed by Enver Hoxha and his communist sycophants.
Then there is the issue of bringing justice to those communists who have managed to survive and take advantage of your government, as you now seem to claim is your objective.
If so, some of those alleged to have been members of the communist party or possibly members of the sigurimi include people like Mehmet Elezi (Ambassador to Switzerland), Qemal Salajeva (aka Tiger), Isuf Kalao, Theollon Meksi, and Lufter Xhuveli (Kapo clan).
I am told these individuals also maintain close personal relationships with you and in some way participate in your government and/or serve as advisors. So in fairness and in the spirit of the New Year, I hope you will agree that their files should be opened to determine if there is any validity to these allegations. Perhaps there is nothing to these allegations. But if there is, will you take action?
If you recall, when you served as President, I presented you with a detailed plan to attempt to recover any wealth that Enver Hoxha and his cronies embezzled from Albania. You rejected that idea saying "it was not a good time." How about now? Is this a good time? Or does your relationship with Nexhmije Hoxha, the cheerleader for Albania's genocide, prevent you from pursuing this matter now?
A response at your earliest convenience would be greatly appreciated.
Gary Q. Kokalari
Madoff Is Deja Vu All Over Again in Albania
Commentary by Celestine Bohlen
Dec. 26 (Bloomberg) -- Post-Communist capitalism was a rough business in places like Russia and Albania in the early 1990s, a Wild East where fraudsters and scam artists danced circles around the poor and the naive -- the rest of the population.
Millions of people, many of them little old ladies, or “babushki’ in Russian, were bilked of their privatization vouchers, savings accounts and whatever cash they had stashed in pillows as a hedge against annual inflation rates of 1,000 percent or more.
Now, in the post-Bernard Madoff era, it is clear that financially uneducated Russians and Albanians have a lot in common with millionaires like filmmaker Steven Spielberg, whose Wunderkinder Foundation lost money in the New York financier’s alleged pyramid scheme.
As it turns out, poverty, ignorance and isolation aren’t prerequisites for falling victim to a pyramid, or Ponzi, scheme. All you need is to believe someone when they tell you they can double your money.
Who would know better than Sergei Mavrodi, the man behind MMM, Russia’s biggest investment pyramid scheme which collapsed in 1994, costing some 2 million Russians an estimated $1.5 billion?
Interviewed on Russia Today, a TV news channel, on July 11, 2007, after his release from four years in prison, Mavrodi scoffed at the idea that his scheme never would have worked in western Europe.
“Of course, it would work not only in Russia, but in any country,” he said. “If you give money away, who is not going to take it?”
The interviewer pressed on, noting that in France, or Belgium, systems are in place to stop such things. “Let me assure you, in Belgium, it would be even easier than here,” said Mavrodi. “Here in Russia, people are illiterate; it is difficult to explain things to them. People there understand things. I managed to do it, but I don’t know why nobody there does it.”
Well, it turns out they did do it in the West, right on Park Avenue. And as Mavrodi said, it worked even better with the financially savvy than it did with people struggling to stay afloat in a transition economy. Madoff has confessed that his “giant Ponzi scheme” may have cost clients as much as $50 billion, according to a Federal Bureau of Investigations complaint.
The MMM scheme in Russia was more modest, although at its peak in 1994, it was considered the most brazen of its time. It ran an aggressive advertising campaign on television, featuring a character named Lyonya Golubkov, a bulldozer operator, who pitched the deal with a simple phrase, “Eto Prosto Yo-Moyo,” roughly translated as “It’s simply frigging awesome.”
This was a no-frills pyramid: those buying in were paying off those who were getting out, a loop that works as long as more gullible people join up.
There were dozens of such schemes, as Russians tried to figure out what to do with their privatization vouchers -- a piece of paper representing their share of the national wealth, issued in October 1991 to 150 million people at a face value of 10,000 rubles, or about $25. A voucher’s worth plummeted almost immediately, as inflation took off, eating away at the value of the ruble and at people’s trust in the new capitalist era.
So it’s no wonder people went running after MMM, and other flim-flam investment schemes with names such as Revenge, or NeftAlmazInvest, literally translated as OilDiamondInvest, which as it turned out, had no investments in either.
Sude the Gypsy
In Albania, the pyramids appeared later, with even more devastating consequences for the national economy. By 1997, the amount taken from Albanians by at least 10 separate schemes had reached almost $1 billion, roughly two-thirds of the gross domestic product.
The meltdown began in November 1997 when a fund run by a 30 year-old former worker at a shoe factory, known only as Sude the Gypsy, stopped making payments. Other funds collapsed in rapid succession, rioting broke out, and the government collapsed.
Writing in 2000, Christopher Jarvis, then a senior economist with the International Monetary Fund, attributed the appeal of Albania’s schemes to “unfamiliarity with financial markets, the deficiencies of the country’s formal financial system.”
That’s not something Madoff’s investors can claim as an excuse. “In the end the best protection is just good judgment,” says Jarvis, now an adviser at the IMF. “If someone makes an offer that sounds too good to be true, it probably is.”
The solution? Jarvis says the Madoff case, like the one in Albania, proves the need for constant vigilance and aggressive regulatory supervision.
So maybe the U.S. should check out how Albania got out of its mess.
Published by ACLIS Jan 2, 2009
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