Agora Financial Explained

Agora Financial
Type:Publishing company
Genre:Financial advice
Founder:Bill Bonner
Location City:Baltimore, MD
Parent:The Agora

Agora Financial is a privately held publishing company, based in Baltimore, Maryland, that produces print and email publications, books, and conferences directed toward providing financial advice, commentary, and marketing predictions. They participate in several spam campaigns under several names such as Event Horizon LLC, Paradigm Publishing and several other suedo company names

History and executive leadership

A subsidiary of The Agora network, Agora Financial was founded in 1979 by financial writer and essayist Bill Bonner, the author of Empire of Debt and Financial Reckoning Day.[1] [2] [3] Bonner's co-author Addison Wiggin is the executive publisher of Agora Financial.[4] Wiggin served as executive producer and co-writer on the 2008 feature-length documentary film I.O.U.S.A.. A film about the growth of the U.S. national debt, I.O.U.S.A. was based on Empire of Debt, and was financed by Agora Entertainment, another Agora, Inc. subsidiary.[5]

The company publishes a number of spam emails and financial newsletters focused on advising investors on making money in energy, metals, emerging technologies, and small-cap stocks, including the Daily Reckoning, Outstanding Investments, and Capital & Crisis. Agora financial also founded the Richebacher Society, a group focused on continuing the work of the late economist Kurt Richebacher.

The companies spam activities are heavily concentrated in both Maryland and Russia. They purchase names from Namecheap.com using protected registration information and then utilize Salesforce.com to send their spam. Neither Namecheap nor Salesforce will do anything about their activities. They utilize a fake mailing address in their emails, several suedo names all attached to their primary company, and utilize the same Word Press format for all of their websites and advertising, that all point back to alternate news, advertising, other spam sites or other investment articles that have been carefully Crafted. The company is in cahoots with several known investment advisors, all of which whom are paid to use their name in their emails. You cannot unsubscribe to their mailing lists, which subjects you to even more spam from alternate email addresses and websites. Space for Discussion and The Bid Finders are regularly used for this, as are others involving alternate Bitcoin or Stock news. The sites are generally plays on existing sites.

They have a staff of editors and other individuals creating these spam sites and articles for email campaigns. The FTC is aware of the spam outfit, but to date, the company continues to keep changing their corporate address. Clicking on their main website will expose Paradigm Press, Event Horizon LLC and several other suedo companies.

Byron King, editor of two of Agora Financial's publications, Energy & Scarcity Investor and Outstanding Investments, has served as an oil industry analyst in the media, specifically in the wake of British Petroleum's oil spill in the Gulf of Mexico.[6] Other members of the Agora Financial staff have provided analysis for CNBC, Fox Business News, and Bloomberg.[7] [8] [9] In March 2011, Agora Financial acquired Laissez Faire Books, a libertarian bookseller based in New York. Established in 1972, the bookseller publishes and distributes libertarian books, with a focus on economics and finance.[10] Jeffrey Tucker, author of Bourbon for Breakfast: Living Outside the Statist Quo, and It’s a Jetsons World: Private Miracles and Public Crimes, as well as former editorial vice president of the Ludwig von Mises Institute, was hired as Laissez Faire's executive editor.[11]

Agora financial publications

Agora Financial Investment Symposium

Since 1999, the company has hosted the annual Agora Financial Investment Symposium. Held in Vancouver, British Columbia, the conference is Agora Financial's largest event of the year.[37] The conference brings together a large number of speakers discussing emerging financial trends, as well as panels and debates.[38] Past speakers have included Steve Forbes, Jim Rogers, Doug Casey, Nassim Nicholas Taleb, and James Howard Kunstler.[39] Each year, the conference is built around a central theme, with "A Tale of Two Americas" the theme selected for 2013.[40]

Options Hotline and 9/11

In the investigations following 9/11, the SEC determined that an unusual number of investors had purchased put options on American Airlines immediately prior to September 11, 2001. Further investigation found Agora's Options Hotline newsletter and its editor Steve Sarnoff as responsible for faxing some 2,000 subscribers the recommendation to buy put options on American Airlines on September 9, 2001.[41] Sarnoff was investigated for insider trading with the SEC eventually concluding “all suspicious trades were checked out, and the SEC satisfied itself that the traders had no advance knowledge of 9/ll.”[42]

FTC suit

In October 2019 the Federal Trade Commission sued Agora Financial for promising a "100 percent success rate" cure for Type 2 diabetes within 28 days, without any changes to diet or exercise, if customers would buy Agora's books, newsletters, and other products. The suit also addressed a bogus "Congressional Checks" or "Republican Checks" scheme where customers who were Republicans could receive government backed checks ranging from $900 to over tens of thousands of dollars and to get the information on the checks customers would need to pay $4.95 for shipping for a book, Congress’ Secret $1.17 Trillion Giveaway, and subscribe to Agora's Lifetime Income Report newsletter, which costs $99 a year. The book however contained only information on dividend investing and nothing about free Congressional checks.[43]

In February 2021 Agora Financial and some of its affiliates agreed to pay more than $2 million to settle the FTC charges. The FTC reported Agora tricked seniors into buying materials that falsely promised a cure for type 2 diabetes or promoted a phony plan to help them cash in on a government-affiliated check program.[44] [45]

References

[46]

Notes and References

  1. Web site: Annual Online Profile . MoneyShow.com . May 24, 2013 . May 31, 2013 . dead . https://web.archive.org/web/20131203002332/http://www.moneyshow.com/marketdata/Corporate_Landing_Page/300/F7606B27AB7C46F992D578B3A252EDDF/Bonner-Bill/ . December 3, 2013 .
  2. Book: Financial Reckoning Day: Surviving the Soft Depression of the 21st Century – Will Bonner, William Bonner . Google Books . 2004. June 4, 2013. 9780471696582. Bonner . Will . Bonner . William . Wiggin . Addison .
  3. Book: Empire of Debt: The Rise of an Epic Financial Crisis – Will Bonner, Addison Wiggin . Google Books . 2011. June 4, 2013. 9781118040546. Bonner . Will . Wiggin . Addison .
  4. News: Addison's New Post3 days ago . Forbes » Contributor Profile » Addison Wiggin . https://web.archive.org/web/20100812055411/http://blogs.forbes.com/people/awiggin/ . dead . August 12, 2010 . Blogs.forbes.com . May 31, 2013.
  5. News: Indebted Ever After . Washingtonpost.com . August 7, 2008 . May 31, 2013 . Frank . Ahrens.
  6. News: Will the oil spill make a drop of difference regarding our attitudes? . Washingtonpost.com . September 30, 2010. May 31, 2013 . Steven . Mufson.
  7. Web site: Ugly Truth for the Fed: Inflation Pressures Here to Stay . Cnbc.com . November 1, 2011 . May 31, 2013.
  8. Web site: Dollar Continues to Decline | Fox Business Video . Video.foxbusiness.com . April 21, 2011 . May 31, 2013.
  9. News: Lucchesi . Cristiane . Diniz Pays Premium in Quest for Brasil Foods: Corporate Brazil . Bloomberg . February 7, 2013 . May 31, 2013.
  10. Web site: About Laissez Faire Books | Laissez-Faire Bookstore . Lfb.org . May 31, 2013.
  11. News: Jeffrey Tucker Joins Agora Financial, To Relaunch Laissez Faire Books | Stock Market Summary (NSDQ, NYSE, AMEX and more) on Boston.com . Finance.boston.com . November 23, 2011 . May 31, 2013.
  12. Web site: Biotech Ideas That Will Change the World: Patrick Cox [PVCT] ]. The Life Sciences Report . May 31, 2013.
  13. Web site: Chris Mayer – Capital & Crisis . Valueinvestingcongress.com . May 31, 2013 . dead . https://web.archive.org/web/20130122120455/http://valueinvestingcongress.com/the_congress/speakers/chris_mayer/index.php . January 22, 2013 .
  14. Web site: The Daily Reckoning . Addison Wiggin . May 31, 2013 . https://web.archive.org/web/20130718195518/http://www.addisonwiggin.com/the-daily-reckoning/ . July 18, 2013 . dead .
  15. Web site: Byron King – Editor, Energy & Scarcity Investor and Outstanding Investments . https://archive.today/20130624201510/http://www.smallcappower.com/experts/profiles/byron-king . dead . June 24, 2013 . SmallcapPower . May 31, 2013 .
  16. Web site: Reviews of Agora Financial: Energy & Scarcity Investor at Investimonials . Investimonials.com . September 4, 2012 . May 31, 2013.
  17. Web site: Lifetime Income Report . Stock Gumshoe . May 31, 2013.
  18. Web site: Dubai stocks look interesting but the correction may be coming says financial newsletter guru Chris Mayer « ArabianMoney . Arabianmoney.net . February 14, 2013 . May 31, 2013 . https://web.archive.org/web/20130218222618/http://www.arabianmoney.net/gcc-economics/2013/02/14/dubai-stocks-look-interesting-but-the-correction-may-be-coming-says-financial-newsletter-guru-chris-mayer/ . February 18, 2013 . dead .
  19. Web site: Critique/Review of Steven Sarnoff – Options Hotline in the Investment Opportunities Category . Onlycritiques.com . May 31, 2013 . https://web.archive.org/web/20130128070235/http://onlycritiques.com/subcategories/InvestmentOpp/StevenSarnoffOptionsHotline.html . January 28, 2013 . dead .
  20. Web site: Brush . Michael . Top pros' top stocks for 2011 – 2 – MSN Money . Money.msn.com . December 21, 2010 . May 31, 2013 . https://web.archive.org/web/20131203005245/http://money.msn.com/how-to-invest/top-pros-top-stocks-for-2011-brush.aspx?page=2 . December 3, 2013 . dead .
  21. Web site: The Daily Reckoning . What if Past is Prologue? . Business Insider . June 8, 2011 . June 4, 2013.
  22. Web site: Nelson . Jim . Penny Sleuth's 10 Tips for New Penny Stock Investors . Businesshighlight.org . May 31, 2013 . dead . https://web.archive.org/web/20131202224348/http://www.businesshighlight.org/business/finance/penny-sleuth-s-10-tips-for-new-penny-stock-investors.html . December 2, 2013 .
  23. Web site: Articles from Jonas Elmerraji, Penny Sleuth . Jonas Elmerraji, Penny Sleuth . TopStockAnalysts.com . May 31, 2013 . dead . https://web.archive.org/web/20130225042547/http://www.topstockanalysts.com/index.php/author/jonas-elmerraji/ . February 25, 2013 .
  24. Web site: Penny Stock Fortunes Greg Guenthner . Silverpennystock.com . March 4, 2013 . May 31, 2013.
  25. Web site: The Market Cap by Investors Alley – January 7, 2013 . Investorsalley.com . January 7, 2013 . June 4, 2013.
  26. Web site: Best Stocks to Buy, Hot Penny Stocks, Cheep and Good – stock market . Stocks-to-by.com . June 4, 2013 . https://web.archive.org/web/20120822052134/http://stocks-to-by.com/category/stock-market/ . August 22, 2012 . dead .
  27. Web site: Reviews of Agora Financial: Strategic Short Report at Investimonials . Investimonials.com . May 31, 2013.
  28. Web site: Strategic Short Report . Gold Stocks Today . May 31, 2013.
  29. Web site: Expert – Ray Blanco . The Life Sciences Report . May 31, 2013.
  30. Web site: Expert – Patrick Cox . The Life Sciences Report . May 31, 2013.
  31. Web site: Neil George . Seeking Alpha . May 31, 2013.
  32. Web site: Nomi Prins 25 Cent Contracts. April 23, 2020. NoBSIMReviews.
  33. Web site: Ray Blanco's FDA Trader. Seven Figure Publishing. en. 2020-04-23.
  34. Web site: Zachary Scheidt's Articles. Seeking Alpha. en. 2020-04-23.
  35. Web site: Alan Knuckman Linkedin. Linkedin.
  36. Web site: Timothy Sykes : Millionaire Stock Trader and Entrepreneur. Timothy Sykes. en. 2020-04-23.
  37. Web site: Rocky Vega . Even in the heart of the Olympics, a foreclosure . CSMonitor.com . February 19, 2010 . May 31, 2013.
  38. Web site: From . Thoughts . The Debt Supercycle . Jutiagroup.com . July 19, 2010 . May 31, 2013 . https://web.archive.org/web/20130615150619/http://jutiagroup.com/20100719-the-debt-supercycle/ . June 15, 2013 . dead .
  39. Web site: Biography . Addison Wiggin . May 31, 2013 . https://web.archive.org/web/20130603054528/http://www.addisonwiggin.com/about/ . June 3, 2013 . dead .
  40. Web site: Events | A Trusted Resource For Gold, Silver, Platinum, and Bullion News . Blog.milesfranklin.com . May 31, 2013 . https://web.archive.org/web/20130511023036/http://blog.milesfranklin.com/events . May 11, 2013 . dead . mdy-all .
  41. Web site: Evidence of insider trading before september 11th . Ithp.org . June 20, 2013 . https://web.archive.org/web/20130419230635/http://ithp.org/articles/septemberinsidertrading.html . April 19, 2013 . dead .
  42. Web site: Interview of Joseph J. Cella III, Page 14 . 9-11 Commission . September 16, 2003 . June 20, 2013 . https://web.archive.org/web/20120222152337/http://media.nara.gov/9-11/MFR/t-0148-911MFR-00139.pdf#sthash.MYQA4sOk.dpuf . February 22, 2012 . dead .
  43. Web site: FTC Sues Publisher for Targeting Seniors With Phony Diabetes Cure and Money Making Schemes . Federal Trade Commission . October 29, 2019 . January 4, 2020.
  44. Web site: Oxenden . McKenna . Baltimore-based Agora Financial to pay more than $2M to settle FTC charges for tricking seniors into buying products . The Baltimore Sun . Baltimore Sun . 16 February 2021.
  45. Web site: Publisher Will Pay More Than $2 Million to Settle FTC Charges That It Targeted Seniors with Phony Diabetes Cure and Money Making Schemes . Federal Trade Commission . 16 February 2021.
  46. Agora Spam Activites and Shell Companies https://www.youtube.com/watch?v=ap9PNXE2gFs

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