Somali pirates stock exchange, “we’ve made piracy a community activity”

Stacy Summary:  h/t @Mother Earth.  This is the craziest story I have read in a long time; these guys sure ‘get’ what the NYSE is all about.   How many of the listed companies on the NYSE or FTSE are just taking natural resources from other nations; sure one dictator may have signed a contract with them . . . but it is still a hostage / ransom situation.

“Four months ago, during the monsoon rains, we decided to set up this stock exchange. We started with 15 ‘maritime companies’ and now we are hosting 72. Ten of them have so far been successful at hijacking,” Mohammed said.

“The shares are open to all and everybody can take part, whether personally at sea or on land by providing cash, weapons or useful materials … we’ve made piracy a community activity.”

36 comments on “Somali pirates stock exchange, “we’ve made piracy a community activity”
  1. Bonn says:

    :-) First ?

  2. Youri Carma says:

    Essential Info about the COMEX: Gold, the Comex and Exchange For Physical http://tinyurl.com/yzwssju

    Comex Default A Reality Vid http://tinyurl.com/ykeony9

  3. Bonn says:

    3 in a row RODFL ;-)

  4. Bill says:

    Very important article by Michel Chossudovsky:

    JP Morgan Chase, Bank America Merrill Lynch, Barclay’s, Citi Bank, Nomura, Société Générale, Morgan Stanley and Goldman Sachs… are all mentioned here.

    http://www.globalresearch.ca/index.php?context=va&aid=16339

  5. Danny says:

    Did Google just blink?
    http://www.bbc.co.uk/blogs/technology/2009/12/did_google_just_blink.html

    Rupert Murdoch wins a small victory…

  6. gonzomarx says:

    Their business model is an old one….
    “Privateers were part of naval warfare of some nations from the 16th to the 19th century. The crew of a privateer might be treated as prisoners of war by the enemy country if captured. The costs of commissioning privateers was borne by investors hoping to gain a significant return from prize money earned from enemy merchants”
    http://tinyurl.com/6ezbd8

    and the early days of the East India Company
    http://tinyurl.com/yhommfn

    So well done these enterprising, free market lads.

  7. AM says:

    LOL, a community activity; i would see that as building crops, providing services for elderly/persons who need it can’t afford it anything PRODUCTIVE. What freaking idiots, if they go commercial in pirating; there already have been sent numerous fleets by different countries to defend the transportation, it is an self fulfilling prophecy. First their fish has been stolen, beside all war ; dumped toxic waste there so there’s nothing to eat, then the IMF came over it which destroyed the last remaining production/self sufficiency. And instead of attacking the core of the problems, the rebels hijack ships and actually do NOTHING to help the community more likely to make it worse. Because the corrupt government (or the fractions/warlords that control the land) will only continue; not giving a …. about the people. Guess they still have to go to the pirate school; investment banking/speculating. at least if they really want to rob/steal and plunder.

  8. Youri Carma says:

    @Danny

    If the Murdochs want to sit behind their “firewalls” good for them but that news won’t travel as fast around the net assuming that it would be interesting enough in the first place.

    Advertisers who pay on clicks have no interest in that kind of websites specific advertisers probably do if Murdoch is able to get his readers to his web place who must be willing to pay for it?

    At the same time this will give more room to not paying websites who than can run him with some given distance if they are able to deliver the same quality or even better.

    So, it is interesting to see if Murdoch is able to survive on the web. His biggest competitors will not behind a “firewall” but get money from “click” paying advertisers.

  9. TJ says:

    How do I invest??

  10. Jim ODonnell says:

    Pirates? Nope!

    Today everything is scummy and a pale reflection of the real thing, yea even Johnny Depp.

    Bring back the Privateer [love that term]. Even John Paul Jones was to Britian a Privateer.

    Here is the “real” [or should be real] thing and thank’s to Eric Korngold for the music.

    http://www.youtube.com/watch?v=6_XIJm0_Wgc

    Also a great song by the Irish Descendants – Barrett’s Privateers, who are from Canada:

    http://www.youtube.com/watch?v=dl-CfQvz21Y

    http://www.youtube.com/watch?v=6_XIJm0_Wgc

  11. Mini US says:

    Anyone know about ING.
    I heard that they had a large exposure to Dibai World.
    I just noticed that last week, before our latest .25 interest rate rise in Australia that they had an introductory rate of 5.25%.
    Now, after the rate rise, it is back to 4%.

    Maybe they are just re-adjusting, or maybe they are in trouble.
    They are Dutch I believe. Any ideas?
    Thanks.

  12. Mini US says:

    Sorry 4 typing errors too.

  13. Bonn says:

    I guess the Pirates Dont Know who Goldman SacK’s is RODFL GS would be You guys aint the Real Deal See our past ;-)

  14. gonzomarx says:

    Truly Somalia is the Liberation dream. No government and individuals working to a common end.

    (Te-he!)

  15. AM says:

    @mini US: Something i have read; that it isn’t “so bad” they are the “smaller” party of all; with 5,5 billion in june 2008 loan to dubai world. The government guaranteed 200 billion of ING capital when the crisis began; i guess this will be the first cut. Yet ING invests in companies that make arms/nuclear weapons and so on; this isn’t that worrying, the ICESAVE scandal had a much bigger impact on the dutch economy because banks/private capital and even governments had money on there due to greed. The dutch government owns ABN AMRO and part of FORTIS; the damage is done, 80 billion total and over 200 billion on guarantees for financial transactions. The financial director of DSB and “considered best” finance minister Zalm leads these two with a salary of 750 000 + bonus based on how much profit is made with selling; now hes under “fire” because dsb bank has failed. It’s just ridiculous, could see that DSB bank was in bad state and Zalm wasn’t as competent as people pretended. Its part of the controlled opposition to be angry now, keep an eye out for PVV (party for freedom), a party that wants military on the street due to some incidents where busdrivers were attacked, and the leader has some real scary views on muslim extremism; http://www.sodahead.com/world-news/wilders-speech-on-islam-israel-europe-trouble-we-will-face/blog-152757/ and very pro israel, this party is rising in the polls very fast, possibly leading party. The reason for his popularity is because he always says; freedom of speech. Yet he wants islam to be forbidden/restricted. Totally madman. I’m looking at possibilities to emigrate not staying in this cesspit under the dictatorship of the EU. (but not much choice; it’s bad bad or worse)

  16. WhiteCollarSlave says:

    I was watching a video at the right side of this page

    http://www.youtube.com/v/LPWEtO0Mc84&color1=0xb1b1b1&color2=0xcfcfcf&hl=en_US&feature=player_embedded&fs=1

    at 49sec is that a tungsten bar on the bottom, or am I just seeing things?

  17. Bonn says:

    Street markets in Highlands are to be charged for space
    http://news.bbc.co.uk/2/hi/uk_news/scotland/highlands_and_islands/8370652.stm

    Street market organisers now face a £50 administration fee and £5 for every square metre of street used.

    Charges will also apply to street cafes and shop banners above roads.
    RODFL another TAX

  18. Phil says:

    @TJ .. LOL .. How do I invest !

    Was just about to post the same !
    ;-)

    … the poor robbing the rich to get their resources back .
    Fair Justice

  19. Mini US says:

    @AM
    Thanks very much.

    I’m of ‘em :)

  20. Mini US says:

    @AM

    Thanks very much.

    I am OFF them

  21. Youri Carma says:

    @Jim ODonnell

    Johnny Depps Pirate Jack Sparrow was inspired on Rolling Stones guitarist Keith Richards according to himself but reckoned before and obvious if you observed the way Sparrow talks in the move, like a hardcore yuppie junky. Funny to see the character and the real deal together http://www.youtube.com/watch?v=9EnOjGuQkNs

  22. Youri Carma says:

    Nice Keith Richards interview, 2006 also about the Industry
    http://www.youtube.com/watch?v=ohEz13V1Vhk

  23. AM says:

    @mini US; no problem, the aftermath could have more impact; there are big companies working on real estate and building sea barriers which isn’t known how big that is: so that’s just another external factor/backlash. the same as increasing deficit; 380 billion, +100 million increase a day from 1 1 10; now the government wants to raise retirement age from 65 to 67 or even 70. Ignoring the real problems; health care costs keep increasing due to the lack of innovation and bureaucracies. Or we are part of NATO in afghanistan, 8 billion cost per year. The worst; we pay for the billionaire royal family hundreds of millions. Anyways the subject was dubai and ING; ING’s stock has already collapsed last year from 30+ to 5: the speculations in the us housing market was the worst bet of ING, dubai is a drup in the ocean.

  24. AM says:

    @mini us; some extra info; ING voted last week in a shareholder meeting to split the company (they just sold their part in ANZ, and will now look at selling insurance activities and savingsbanks in the us) and give out new stock worth 7.5 billion (which they will pay half of the state loan). The total already put in ING is 10 billion, if they don’t pay back in time the fine is 50% interest. Little too late, there’s speak of ING importance in the global financial market; that it is too big to fail: i still think that the global financial market is too f*cked up to continue. Still think it is ridiculous the whole bailing out; prefer not to look to deep into it here.

  25. Mep says:

    ;-) Saw this one yesterday . . . forgot to post it. I was going to ask Max if he had been in Somalia giving financial advice to pirates.

    Go, pirates!

  26. david says:

    Love the piece in the article about the divorcee investing her ‘alimony’ (rocket launcher). Go on the Somali’s more power to yer elbow.

  27. Ptah says:

    From private enterprise to pirate enterprise… not much difference really…

  28. I take it Goldmung Sucks are the underwriters for the IPOs on this exchange?
    Hanky Panky Paulson is the Director?
    :D

  29. Phil UK says:

    Genius business model.
    It provoked a genuine ‘LOL’

  30. Gordo says:

    Well finally some one trying to resuscitate capitalism’s good name.

  31. Michael Le Couteur MSCD, ret'd says:

    Robin Hood alive and well in Somalia? I am just waiting for Blackwater/Xe to set up their own crew. Somehow I would rather trust the Somalies than the fine upstanding Xe boys. Yes yes, where do I invest?

  32. Orfeo Treshula says:

    Piracy is, and has always been at the root of finance (which itself may quite possibly be at the root of all ‘states’. There is only one social alternative that can counter the power of the PiracyFinance State: The culture of Honor, Fealty, Magnanimity. These are the principles Tacitus evokes when reflecting upon Roman experience with the early Germanics.

    I think what I’m trying to bring up is that still a sort of violence underlay society, and that violence is either piratical or barbaric in nature. One is internationalist in its, uh, generally ocean traveling depredations; the other is generally quite solidly continental, and based upon the control of commodities, not the same as but not completely unlike the old robber barron’s Coal and Iron Police, or the private armies of the cattle barons.

    I think I’ve pointed out enough here for some to see what I mean.

    Also, I’m not advocating one system or the other, simply pointing out their dynamic– just one aspect of which being that you always have either one, or the other of necessity predominating.

    Obviously, there are two differing economic regimes that go with these as well– and they are not mutually compatible.

  33. juan says:

    These guys are just like any international bankers, any one of them could join Goldman Sachs without a hinch.

  34. Jay Walker says:

    So when is Goldman Sachs getting in on this?

    And when will Washington have to bail out the Somali pirates?

  35. Tofu Charlie says:

    http://www.wired.com/special_multimedia/2009/cutthroatCapitalismTheGame

    Franchising opportunities coming to a naval choke-point near you…

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