According to media in Israel, a family prominently involved in the largest binary options market maker, which has 75% of the entire binary options market, are leaders of the Georgian faction of the Likud Central Committee and that he needs their support to maintain his position in the Likud
It turns out that all of the attempts by the straight-thinking Israel Securities Authority to outlaw binary options and pass rulings that would put paid to the dark shadow cast over the genuine OTC FX industry by a league of semi-literate barbarians who have absolutely nothing whatsoever in common with financial markets or electronic trading, are in vain.
As reported by FinanceFeeds last week, the Knesset committee engaged in a massive U-turn at the very last moment when hearing the proposals to outlaw all activity related to binary options globally, which would end the layering of corporate structure that many firms operate under, and would quash the ten year old binary options business which has stolen billions from unsuspecting members of the public globally on the pretense that it is financial markets trading.
Instead, binary options in its OTC form bears no relation whatsoever to genuine financial markets activity. It is operated by people touting leads that often they have stolen from other companies, and targeting unsuspecting people with a false and weighted platform which is a faintly disguised gambling system, in which nobody can win.
The result of the damage done by such firms includes the outright ban on electronic trading in several countries, and an unwelcome association by the general public that this represents the ethos of many firms, even though it, and its perpetrators, bear no resemblance whatsoever to the genuine firms that operate legitimately in Britain, Australia or North America.
Part of the reason for the U-turn, which now allows these nefarious entities to label their products CFD or FX, thus creating a far worse situation in that the same tactics will be propagated, is that the government is far too corrupt and easily swayed by criminal organizations to be able to stand firm and ensure good quality products and companies can operate in Israel and fly the flag.
When considering the cartels that operate the supermarkets, banks and major import and export of goods enterprises and how they rule by fear and force, the binary options structure bears similar traits in that its extremely aggressive and largely uneducated main figures are highly influential in Israel’s government.
Yesterday, Israeli newspaper The Times of Israel stated that, during a Knesset meeting last week, Member of Knesset Rachel Azaria pleaded with Likud party member David Bitan to convene the plenary immediately to invoke the bill, despite the fact that the Knesset is currently in summer recess.
Soon after Rachel Azaria explained that the entire binary options business is damaging for Israel as a business environment and is causing distrust and dislike for the country around the world, a Knesset usher asked reporters to leave the room, however according to yesterday’s report, a source who had remained in the room told the Times of Israel that a family prominently involved in the largest binary options market maker, which has 75% of the entire binary options market, are leaders of the Georgian faction of the Likud Central Committee and that he needs their support to maintain his position in the Likud.
It, and many of its larger brands, are currently re-positioning themselves to offer ‘simplified FX’ which effectively will be the same ruse but with a different name.
This once again highlights the corruption that operates the entire government structure, and yet again demonstrates why the binary options company and brand owners have sat relatively calmly, with their binary options campaigns suspended but offices continuing to operate with staff going to work as normal, waiting for what they knew would happen, to happen.
It also explains why the response given to anyone who questions binary options firm owners is often peppered with threats of physical retribution, with no consequences.
Once again, this entire structure, if accurate, reflects the findings of former US secret agent Haggai Carmon, who described the operations of binary options firms as being similar to terrorist and espionage entities in the way that they layer their organizations, without any retribution from the authorities.
It also highlights why not only the public, but B2B entities that provide services to online trading firms would be well advised to only work with those in reputable countries with properly organized business environments such as Australia, Britain, North America, Singapore, Hong Kong and mainland China, where rule of law is respected and the industry professionals are properly experienced in managing such companies with a career background to prove it.