Nigeria Follow Up

Re: [spiers] Nigeria Follow up


In a message dated 8/11/01 11:35:25 AM, GH8899@aol.com writes:

<< Just thought I'd mention that Ron Owens read this letter on his show on
KGO
radio. He found it laughable that people would fall for it.

>>

Yes, but they are just the most bold, there are very many more scams that are
more effective for being more subtle... fortunately, those of us who trade
on the basis of providing a value (the vast majority of traders worldwide) in
the marketplace are immune from such mischief.

John

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Nigeria Follow Up

Re: [spiers] Nigeria Follow up

Just thought I'd mention that Ron Owens read this letter on his show on KGO
radio. He found it laughable that people would fall for it.

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Urainski Pirates

Folks,

Like the apple juice complaint, here we go solving a problem that does not
exist. Now we have a trade dispute with a country that sells pirate CD's to
countries that cannot afford the real thing. It is not as attractive as it
sounds, since very many companies compete as pirates, making profits narrow.
If these countries cannot afford the real thing, then there is zero loss to
those who sell the real thing, when those who cannot afford the real thing
buy a pirate copy.

There is a solution superior to a government solution. If, say Microsoft,
were to say to the Ukrainski "please make us 100,000 units for our market
channels, and make as many as you like for your market channels, but give us
5 cents a copy (or some such) for our cooperation.

The result would be new revenue for Microsoft and less "piracy" inasmuch as
the Ukrainski cd-maker would now dislike other "pirates" locally, and would
use local means to stop them.

An as an aside, it costs maybe 75 cents to create the product microsoft sells
as "office" at $400 in the usa... an english language version is available
for India at half he price, reflecting what the market will bear. Tehrefore,
there must be a business wherein a USA customer buys office online for $275
from a company that fedex's the copy direct to the usa customer from india, a
copy that is fully supportable by micrsoft, for a nice 10% profit margin,
with no risk. (A silver star for anyone who can poke holes in this scenario).

But onto the official USA announcement:

On August 7, 2001, the Office of the U.S. Trade Representative announced that
it would suspend the special duty-free status for Ukrainian products and
issued a preliminary list of other products that could face sanctions, due to
Ukraine's persistent failure to curb unauthorized production of optical media
products (CDs, CD-ROMs, DVDs, etc.). U.S. industries have estimated that this
massive piracy has caused over $200 million in annual damages and has
disrupted markets throughout the region and beyond. To view the U.S. Trade
Representative's press release visit www.ita.doc.gov/301alert and click on
the Ukraine button at the top right of the home page, or visit www.ustr.gov .
The Public Comment period is open now!

***
John Spiers

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Nigeria Follow Up

Re: [spiers] Nigeria Follow up


Question:

The letter is preposterous, that's very clear, but the
question remains, assuming this requests is coming
from another country... Why would you wait until step
(5)? Wouldn't that be the first step to take - check
on the authenticity of the funds - if you were
considering doing a transaction at all?
Thanks
Alex

--- wileyccc@aol.com wrote:
> Folks,
>
> Here is the reply to my reply to the good doctor in
> Nigeria... the new twist
> is that they propose to launder the money out by
> importiing goods from me
> into Nigeria. Actually i am leaving off this
> example becasue it is so
> transparent as to be boring... but, what would
> follow is this:
>
> 1. I give them all my particulars as they request.
>
> 2. They propose I buy wheat, apples, autos,
> machinery anything at all and
> overinflate the price.
>
> 3. They open a letter of credit (on a nonexistent
> bank) to my benefit for
> some $30.5 million, and I ship what I can against
> this letter of credit.
> Please note if I could only get, after borrowing as
> much as I could and
> liquidating all I own, say only $5 million in cash,
> this would be fine,
> because they would then direct me to ship $5 million
> worth of goods and I
> would invoice for $30.5 million. The $5 million
> would be necessary, they
> expplain, to fool their government that a real
> transaction is taking place.
>
> 4. The goods move onward to Nigeria.
>
> 5. My local bank tells me the letter of credit is
> fraudulent. I try to get
> goods recalled...not possible.
>
> 6. My goods disappear into Nigeria.
>
> 7. A relative shoots me.
>
> The first six i am positive would occur. Please
> note the erudition; Nigeria
> has first rate talent, but due to USA going off the
> gold standard, commodity
> deflation has left formerly wealthy people desitute.
> So we have the
> following:
>
> Dr. Usman Hussein
> Contract Review Committee
> Federal Secretariat Annex,
> Garki, Abuja. Nigeria.
> Tel.234-9-272092
> Email:
> usmanhussein@yahoo.com
> Attn: Jhon Spiers
> Dear sir,
>
> BUSINESS PROPOSAL: TRANSFER OF US$30.5M (THIRTY
> MILLION, FIVE HUNDRED THOUSAND UNITED STATES
> DOLLARS)
> & BUSINESS INVESTMENT PARTNERSHIP.
>
> First, I must solicit your strictest confidence in
> this transaction, this is by virtue of it's nature
> as
> been utterly confidential and top secret as you were
> introduced to us in confidence by our Attorney
> Barrister Ola James.
>
> We are top officials from the Federal Ministry of
> Works & Housing (FMW&H), Federal Ministry of Finance
> and the Presidency, making up the Contract Review
> Committee (CRC) set up by the Federal Government of
> Nigeria to review contracts awarded by the past
> Military administration.
>
> In the course of our work in the CRC, we discovered
> this fund which resulted from grossly over-invoiced
> contracts which were executed for the FMW&H during
> the
> last administration. The companies that executed the
> contract have been duly paid and the contracts
> commissioned leaving the sum of US$75.5M floating in
> the Escrow account of the Central Bank of Nigeria
> ready for payment.
>
> I have therefore been mandated as a matter of trust
> by
> my colleagues in the Panel to look for an over-seas
> partner to whom we could transfer the sum of
> US$30.5M
> by Legally subcontracting the contract entitlement
> to
> your company. This is bearing in mind that our civil
> service code of conduct forbids us from owning
> foreign
> companies or running foreign accounts while in
> Government service hence the need for an over-seas
> partner.
>
> We have agreed that the funds will be shared thus
> after it has been transferred into your account:
> (1) 20% of the money will go to you for acting as
> the
> beneficiary of the fund.
> (2) 70% to us the Government officials (with wish we
> wish to commence an importation business in
> conjunction with you).
> (3) 10% has been set aside as an abstract projection
> for reimbursement to both parties for incidental
> expenses that may be incurred in the course of this
> transaction.
>
> All logistics are in place and all modalities worked
> out for the smooth conclusion of the transaction
> within ten to fourteen working days of commencement
> after receipt of the following information from you:
> Your company name, address, company's details and
> activities, telephone & fax numbers, Mobile Number
> if
> any, Complete Banking Details. These information
> will
> enable us make applications and lodge claims to the
> concerned Ministries & agencies in favor of your
> company and it is pertinent to state here that this
> transaction is entirely based on trust as the Solar
> Bank Draft or Certified Cheque draw able in any of
> the
> Central Bank of Nigeria correspondent Bankers in
> America is going to be made in your name.
>
> Please acknowledge the receipt of this letter by
> reaching me on this telephone number for further
> briefings and clarifications within the next 48
> hours Tel. 234 9 2720929.
>
> Yours faithfully,
>
>
> DR. USMAN HUSSEIN
> Chairman C.R.C, Abuja Nigeria.

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Nigeria Follow Up

Folks,

Here is the reply to my reply to the good doctor in Nigeria... the new twist
is that they propose to launder the money out by importiing goods from me
into Nigeria. Actually i am leaving off this example becasue it is so
transparent as to be boring... but, what would follow is this:

1. I give them all my particulars as they request.

2. They propose I buy wheat, apples, autos, machinery anything at all and
overinflate the price.

3. They open a letter of credit (on a nonexistent bank) to my benefit for
some $30.5 million, and I ship what I can against this letter of credit.
Please note if I could only get, after borrowing as much as I could and
liquidating all I own, say only $5 million in cash, this would be fine,
because they would then direct me to ship $5 million worth of goods and I
would invoice for $30.5 million. The $5 million would be necessary, they
expplain, to fool their government that a real transaction is taking place.

4. The goods move onward to Nigeria.

5. My local bank tells me the letter of credit is fraudulent. I try to get
goods recalled...not possible.

6. My goods disappear into Nigeria.

7. A relative shoots me.

The first six i am positive would occur. Please note the erudition; Nigeria
has first rate talent, but due to USA going off the gold standard, commodity
deflation has left formerly wealthy people desitute. So we have the
following:

Dr. Usman Hussein
Contract Review Committee
Federal Secretariat Annex,
Garki, Abuja. Nigeria.
Tel.234-9-272092
Email:
usmanhussein@yahoo.com
Attn: Jhon Spiers
Dear sir,

BUSINESS PROPOSAL: TRANSFER OF US$30.5M (THIRTY
MILLION, FIVE HUNDRED THOUSAND UNITED STATES DOLLARS)
& BUSINESS INVESTMENT PARTNERSHIP.

First, I must solicit your strictest confidence in
this transaction, this is by virtue of it's nature as
been utterly confidential and top secret as you were
introduced to us in confidence by our Attorney
Barrister Ola James.

We are top officials from the Federal Ministry of
Works & Housing (FMW&H), Federal Ministry of Finance
and the Presidency, making up the Contract Review
Committee (CRC) set up by the Federal Government of
Nigeria to review contracts awarded by the past
Military administration.

In the course of our work in the CRC, we discovered
this fund which resulted from grossly over-invoiced
contracts which were executed for the FMW&H during the
last administration. The companies that executed the
contract have been duly paid and the contracts
commissioned leaving the sum of US$75.5M floating in
the Escrow account of the Central Bank of Nigeria
ready for payment.

I have therefore been mandated as a matter of trust by
my colleagues in the Panel to look for an over-seas
partner to whom we could transfer the sum of US$30.5M
by Legally subcontracting the contract entitlement to
your company. This is bearing in mind that our civil
service code of conduct forbids us from owning foreign
companies or running foreign accounts while in
Government service hence the need for an over-seas
partner.

We have agreed that the funds will be shared thus
after it has been transferred into your account:
(1) 20% of the money will go to you for acting as the
beneficiary of the fund.
(2) 70% to us the Government officials (with wish we
wish to commence an importation business in
conjunction with you).
(3) 10% has been set aside as an abstract projection
for reimbursement to both parties for incidental
expenses that may be incurred in the course of this
transaction.

All logistics are in place and all modalities worked
out for the smooth conclusion of the transaction
within ten to fourteen working days of commencement
after receipt of the following information from you:
Your company name, address, company's details and
activities, telephone & fax numbers, Mobile Number if
any, Complete Banking Details. These information will
enable us make applications and lodge claims to the
concerned Ministries & agencies in favor of your
company and it is pertinent to state here that this
transaction is entirely based on trust as the Solar
Bank Draft or Certified Cheque draw able in any of the
Central Bank of Nigeria correspondent Bankers in
America is going to be made in your name.

Please acknowledge the receipt of this letter by
reaching me on this telephone number for further
briefings and clarifications within the next 48
hours Tel. 234 9 2720929.

Yours faithfully,


DR. USMAN HUSSEIN
Chairman C.R.C, Abuja Nigeria.

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International Business Agreements

Re: [spiers] International Business Agreements

Alex Briones wrote:

> Hi John,
>
> I would generally agree with the free market idea,
> provided the 400 billion drug business were not part
> of the NAFTA equation.
> After all, 14,000 trucks/yr is no small task to
> inspect for Cocaine and contraband - out of which - we
> inspect about 5%. Imagine what the inspection would be
> in a free market equation?
> We need to understand that Mexico does not equal
> Canada
> Thanks
> Alex

Honestly, at 5% who really cares? Lets see... using the $400 billion
figure, that means that we only intercepted $20 billion worth of drugs,
leaving the remaining $380 billion that got through. It cost us taxpayers
tens of billions to accomplish those 5% inspections! Further, out of the 5%
inspections we did, how many were actually fruitful; i.e., ended in arrests
and convictions? This is economic madness. The politicians all know it,
but because every paltry drug bust makes for good press, it is in their
interest to keep beating the "antidrug" drum. By decriminalizing drugs, we
pull the plug on the entire profit motive hierarchy, the murders, the
investigations, and the incarcerations; which are costing us all even more
$billions.

On the other hand, perhaps we should all pitch in and truly try to "win"
this war. I figure an immediate jump to a 90% federal tax rate (gov gets
90%, you keep 10%) should provide enough revenue to raise that 5% inspection
figure to as high as 40 or 50%!!!

I believe the economic benefit of the free market proposal far outweighs any
additional drug traffic it might cause. Looking at it from the drug lord's
point of view, with a potential 95% success rate even if ALL inspections
were removed distribution would only increase marginally!

Gary Phillips

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International Business Agreements

Re: [spiers] International Business Agreements


In a message dated 8/5/01 5:42:30 PM, alexbriones@yahoo.com writes:

<< I would generally agree with the free market idea,
provided the 400 billion drug business were not part
of the NAFTA equation.
After all, 14,000 trucks/yr is no small task to
inspect for Cocaine and contraband - out of which - we
inspect about 5%. Imagine what the inspection would be
in a free market equation?
We need to understand that Mexico does not equal
Canada >>

***the 400 billion dollar legal drug business? hmmm... what has that to do
with the illegal drug business, to which you refer? I would wonder why we
would exempt a legal business from free trade, on what principle; and then I
wonder why we are fighting a "drug war" that is 95% ineffective. From a
trade standpoint, if all those resources have little effect, let's look at
another way...or even revisit the problem we are trying to solve.

John

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