Friday, December 4, 2009

Allen Bell does not ring true

Allen Bell (Finance Minister) says that the IOM is a 'safe place' to invest.  He would wouldn't he?   But he does not spell out the basis of his assertion because there isn't any.

In fact John Aspden (chief of the FSC) has told him & the world at large that neither investments nor deposits are 'risk free' on the IoM.

If Allen Bell is right & John Aspden is wrong then he needs to spell out precisely how money put into the IOM is now suddenly 'safe'.

The reality is Allen Bell is engaged on a sales pitch to put the IOM in a good light in the face of the disasterous situation that faces its economy.

Kaupthing depositors were told their money was 100% guaranteed but that turned out not to be true. Now there is a website DON'T BANK ON THE ISLE OF MAN that tells expats and others the reasons for not depositing on the IOM.

Depositors & investors are not stupid & are not going to be hoodwinked by propaganda that is clearly aimed at the best interests of the IOM and not at those whose money is so eagerly sought with that objective in mind.

There needs to be a massive injection of ethics, morality, integrity and justice in a new IOM 'mind set' if people are to trust this offshore financial centre. Until then don't gamble; play safe - DON'T BANK ON THE ISLE OF MAN as it could seriously ruin your wealth.

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