Thursday, September 5, 2013

Odd Story From Quebec

Artists and visionaries have a way of getting involved in all kinds of things: debt, scorn, skepticism and political controversy – or in David Kam’s case, a full-scale financial Internet inquisition.

The strange case of David Kam and his misadventures with Canadian authorities began in his imagination and ended up in the courts. Kam is an engineer/artist/alternative economist/social activist/environmentalist/blogger (ad infinitum) and citizen of Quebec. Among his many projects is the creation of an alternative, ecologically oriented “stock market,” which he calls Green Stock Exchange (SX).

Kam intends to go all the way with the alternative stuff and is the process of establishing “Imagine Nation,” a small, alternative nation inside of Canada with its own real estate. “Ambassador” Kam amuses himself with superlative titles. Currently he is “The Most Nobel David Kam” or “His Grace the Duke David Kam” or occasionally just “The David.” But the sovereign nation business isn’t causing him problems – money is.

Understanding something about Canadian law and living in the U.S. for periods of time, Kam created U.S.-based websites to promote his utopian and environmentally based business and project ideas. These include E=MC² Company Inc. and Pôle Nord de l’Amérique Inc. as well as the future Green Exchange. He hopes to create a “greener lifestyle” and cultures of “understanding, compassion, creativity, love” and other commendable things such as “Make Hunger History” and LOHAS (Lifestyles of Health and Sustainability).

Other than being almost pathologically optimistic over the future of the human race and given to flights of fancy, Kam seems like a decent type. So why has Canada’s version of the U.S. Securities and Exchange Commission come after him like West Nile mosquitoes?

Autorité des Marchés Financiers (the “AMF” or “Authority”), Kam’s current nemesis, is a civil, non-criminal court created to enforce stock market regulations, police brokers and prevent fraud. According to the “Authority,” Kam is charged with selling securities and seeking investors in an unregistered entity and acting as a stock trader or counselor. They claim he may not do business anywhere on earth without the permission and under regulation of the AMF because he is a citizen of Quebec.

Kam counters by denying he attempted to sell stock to anyone in Quebec and defied them to prove a Canadian citizen has even seen, been influenced by or invested in his venture, which is in Beta testing and scheduled to function in 2015.  He claims he only “posted ideas,” which they interpret as solicitations, such as, “Friends Become Stock Experts: We will value the opinion of our friends and family more than our stock-brokers.”

for more on this strange story, go to:

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