A Word of Caution (Amended)

  • direstraits
  • 30/11/08 31/05/09
  • a depositor
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Posted: Thu, 02/04/2009 - 08:04

A Word of Caution
UPDATED from reply to Amar 31/03/09
Whilst I think it is an excellent idea to demonstrate at the Tynwald on 9th April I would offer a word of caution.
The IOM Gov are not experienced politicians but comprise a bunch of parochial shopkeepers who ineptly manage, “a parliament” about the size of a UK mainland Parish Council. The economy of IOM relies on the banking industry, there are some 29 banks on IOM all extolling the virtues in the safety of banking on IOM because, “depositors are protected by the DCS”. The IOM Gov have neglected to ensure that, if a bank fails there would be sufficient funds to implement the DCS. There are no funds and if by demonstrating it attracts excessive media attention which in turn results in depositors fleeing the island, other banks on IOM will fail and there will be no pay outs for any of us!
Is it possible that DAG could just have a small presence on 9th April? And consider the following as an alternative for additional impact? If DAG members were all e-mailed with a message directed at the IOM Gov on which the DAG member then added his, or her comment and then returned it to DAG. These could be printed off and the bundle handed over directly to either Bell, Brown or, possibly someone displaying intelligence and the ability to read? For additional impact a bundle of copies could be presented as a petition to No10 and perhaps a second and third set to the respective Conservative and Lib Democrat HQs. I have written 23 letters to date to MPs and not one has had the courtesy to even acknowledge my letter. Stronger stuff is needed.
I know that the majority of you will not agree but I think that the DCS should have been implemented immediately. This would have saved valuable time and it could then have been left to the over 50k depositors, myself included, to recover the remainder through the courts. IOM Gov have failed in a duty of care and when the TSC issue their report, I feel certain that it will point to the possibility of corruption and most certainly of malpractice. This will assist in an action through the courts.
I am 75 and not in particular good health and I would very much like to have my money returned. Trying to manage on HM Gov pension of ₤92 a week is difficult, even in Spain.

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Contingency Plans

  • Fred
  • 13/10/08 31/05/09
  • a depositor
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  • Thu, 02/04/2009 - 18:17

If the IOM and/or UK does not take action to return 100% of our money expeditiously, I agree with a previous writer who stated that the IOM banking industry and thus the IOM Government should be reduced to the same level of poverty and dispair as that of the depositors of KSFIOM. It is only proper that depositors in other banks be made aware of the risk they are taking by keeping their funds on the IOM.
I realize that it has been cautioned that attacking the banking industry on the IOM could result in more failurers that would in turn reduce the chances of the KSFIOM depositors receiving anything; however, that is a calculated risk that I for one am willing to take.

Has anybody personally, or the DAG in particular, considered contingency plans in case we are not guaranteed 100% of our money??? These plans would include legal action to be taken, that is if we can afford it, and also how to publicize to the WORLD the true situation regarding banking on the IOM.
Just saying that it will happen will not make it happen. Someone who is a communications expert needs to outline HOW and by what means we could get the message out to the world. If the powers to be knew that contingency plans were in place, it might effect their thinking. It has been threatened and mentioned in many a posting, but never articulated how it would happen.


Fleas and Elephants

  • Premier
  • 10/02/09 31/05/09
  • not a depositor
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  • Thu, 02/04/2009 - 09:21

Hello Direstraits

As you rightly say the economy of the Island does depend on the banking industry, but “retail deposits” (Isle of Man jargon for the life savings of individual people like you and me) only account for a very small percentage of total deposits.

Rather like fleas on the back of an elephant we can be swatted-off whenever this wretched government feels like it.

It’s the big “institutional accounts” that hold sway on the island and if they pack their bags and leave the then the government really will be in trouble.

I am a guest on the site – but if I my respectfully suggest it is these people the KSF IOM DAG should be lobbying. You may never recover your money but at least you will have the satisfaction of reducing the island to the same level of poverty that it has created for you.

As we all know the “institutional accounts”, and the parochial shopkeepers themselves, are sitting very comfortably thank you and they will be very reluctant to alter the status quo.

We are dealing with very thick skinned people - but do not let them get away with it!

Isle of Man on the 9th

  • uptight61
  • 14/10/08 n/a (free)
  • a depositor
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  • Thu, 02/04/2009 - 13:52

Hi Direstraits,
As you say in your letter, sending letters to MPs and other orthodox ways to get our message across has not worked. Consequently we are showing up in the flesh to make our case. Even, evidently, the Deemster at the last hearing asked for input from the great British public (ie. the public gallery) but we were not there. I cannot think of a more legitimate way to voice one's displeasure than by demonstrating in person!


  • hippychickrobbed
  • 03/11/08 31/05/09
  • a depositor
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  • Thu, 02/04/2009 - 14:53

This is just the start of them, as time goes on I get so angry that our funds have been taken away, it sickens me more than ever.I ask you all in the london demo to bring out your friends and family this is a CRIMINAL RIP OFF that we are in. Never mind the fraud of it all...

DAG presence on 9th April IOM

  • conned
  • 13/10/08 n/a (free)
  • a depositor
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  • Thu, 02/04/2009 - 09:33

These are not a bunch of incompetants mismanaging the government of the island. This is corruption by a bunch of slippery very clever people. The whole island benefits substantially and they are not inclined to change the status quo. Personally I will do everything I can to stop them getting away with reducing me to poverty and if the residents have to experience what I have to suffer, should I worry about that? Up and at em! No use being lilly livered and pussyfooting about. We are not going away and will pursue this however long it takes.


  • hippychickrobbed
  • 03/11/08 31/05/09
  • a depositor
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  • Thu, 02/04/2009 - 10:03

Your totally right conned, thats what they have done reduce people to poverty by their negligence.I cannot still beleive what we are going through. I have to pay medical bills abroad here and because of them I am delaying treatment, would they like that, they are nothing but ill hearted scum .

Institutional Accounts

  • bobwin
  • 23/12/08 n/a (free)
  • a depositor
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  • Thu, 02/04/2009 - 09:31

Can you provide figures for these accounts please?

I imagine that these institutions also get their cash from smaller investors ?

KSFIOM had institutional investors/depositors---insurance companies, local councils, charities etc.

Where did this money come from?

Totalitarian regime

  • Premier
  • 10/02/09 31/05/09
  • not a depositor
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  • Thu, 02/04/2009 - 11:00

Hello Bobwin

We can not provide you with accounts/figures – but refer to the Manx Herald and the recent report based on an interview with the IoM government economic advisor, Stephen Carse which states that as for the issue of ex-patriot Brits, and other ‘retail’ customers, depositing their cash in offshore accounts rather than in their ‘home’ countries - although he agreed action may be taken to make it easier for them to open accounts in the UK etc – he doesn’t believe the loss of their ‘business’ will have much impact; as retail deposits only account for a very small percentage of total deposits.

We do not advocate “being lily livered and pussyfooting about” – our members have also been defrauded by this Fascist, totalitarian regime and are equally committed to obtaining the return of their life savings.
We have been campaigning for more than six years and during this time endured considerably reduced circumstances and in some cases real poverty.

Like Benito Mussolini, Adolf Hitler, Joseph Stalin, and Nicolae Ceausescu before him James Anthony Brown presides over a totalitarian regime that has abandoned social equality, integrity and honesty.