000			02935nam a2200301Ia 4500
001			211449
003			0000000000
005			20211104044737.0
008			101105s2009 ph a 001 0 eng
020			_a9789719426110
040			_erda
050			_aHD 2905 _b.Ar54 2009
100			_aArmas, Armando. _952254
245		0	_aTrilateral monopoly : _bmythology of destructive creation / _cArmando Armas Jr.
264			_aManaoag, Pangasinan : _bManaoag House, _c©2009.
300			_a167 pages : _billustrations _c22 cm.
336			_atext _2rdacontent
338			_avolume _2rdacarrier
500			_aIncludes index.
520			_aArmas narrates the continuing evolution and struggle in state capitalism and importantly investigates the following hypotheses: 1) Unlike history, mythology indicates that the wrongs that happened in the past, either economic or political events, will occur again. Financial crises will always happen again under the Basel BIS regime as under the Bretton Woods regulations. 2) In theory, the PDS Group contradicts the nature of the firm. The integration of FX trading in PDEx is absurd. Even then, the integration within the PDS Group of its subsidiaries is against the foundation of economics. Of the BAP, the PDS Holdings is most unprofitable. Even with the SEC-granted de facto monopoly, the PDS Group could not turn profitable. It charges extortionate prices in trading, settlement, and custody. 3) In fiscal history and WFE statistics, public debt papers are almost all traded at the OTC markets. No bond exchange in the world has survived on trading of government securities. Like candles in competition against the Sun, PDEx is no match against the global supremacy of Bloomberg. 4) Organized exchanges, like the Cosa Nostra, are a private monopoly to eliminate public competition. A self-regulatory organization (SRO) regulates its members to enhance their collective profits. Let the public be damned says the cartel credo. The code on honesty among thieves slyly violated social justice with impunity. As an unnecessary evil, the SEC granted SRO status to PDEx, a rent-seeking corporation - not of traders, brokers and dealers. 5) The trilateral monopoly represents evil financial repression in the 21st century. It is the best way to rob banks, stockholders and depositors. As it is against the Philippine Constitution, did the PDS Group also violate the Revised Penal Code? In defense of the integrated tollgates, BAP President Cesar EA Virata hyped the 1997 Asian Financial crisis to suppress the muted opposition against the PDS Holdings.
650			_aBanks and banking _916844
650			_aFinance _zPhilippines. _9113857
650			_aGovernment securities _zPhilippines. _9113858
650			_aMonopolies _zPhilippines. _9113859
650			_aSecurities fraud. _zPhilippines. _9113860
942			_cIRC
999			_c79626 _d79626