Gulag Blog

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.

• Somali pirates lure investors on private exchange

“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.”

Tags: exchange, somali pirates

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