Second update on the investigation of the PDR Exchange...

Good morning Pan Americans. As of today:

1. We have not received all the documentation requested from Micheal Scott Terrell "MST" to comply with the investigation/audit,
2. We have received files that are being checked by our software engineers to ascertain that it is in working order and that the data is not corrupted - this is an intensive process and we will let you know the results of this analysis,
3. We have not heard from "MST"; he is required to assist being the CEO of “PDREX”, having total fiduciary responsibility to all concerned,
4. We have not received bank records from “DCC” and “PNMS” allegedly at Bank of America in America II USA-Dallas, Texas. These documents are extremely necessary to verify transactions, once received this procedure will be done under strict security.



The absence of "MST" and/or his staff at the Dallas Branch office for America II during these sad times, does not necessarily imply that “MST” is running away or is a fall guy, he has rights and responsibilities. “MST” has acted as a brother to me during the past two years <=/-> and I will give him all the benefit of the doubt, however, only his actions during this investigation of the “PDREX GATE an act of infamy” will explain his state of mind.

A message for “MST”: I can go to hell and back to get him out of his own chains and offer my help, however, if he has betrayed our oath and/or manipulated my trust and/or utilized my friends and loyal Pan Americans for personal reasons, I will not be able to help him. May God be with him!

Thank you for listening my friends, together we will succeed!!!

Best regards Pan Americans,
Pedro Borges Fiol
Founder-Protector
FUNDAPAN

- PAN NEWS Network -

First update on the investigation of the PDR Exchange...

October 25, 2008

Good morning Pan Americans. On October 14, 2008, I published a news-blog on the www.panamersa.net beginning with the phrase: “I will never forget this day as a sad day in our quest for the commercial integration of Our America”

Today I will begin a series of updates concerning the findings by a team from Grupo PANAMERSA and other professionals assisting to decipher what I will refer to as the “PDREXGATE an act of infamy”… An analysis of the operations and actions by the management of PDREX.com S.A. formerly PDR Exchange (Panama) Inc. (“PDREX”) a runaway beneficiary of Fundacion Pan America (“FUNDAPAN”) the depository entity that protects the assets of all registered Pan American Beneficiaries. Whereby, the PDREX management decides to separate from the rules and regulations as stipulated by the Law and on their own decides to work outside the Law, violating the Law and their fiduciary responsibility to their associates and FUNDAPAN Beneficiaries.

Let us begin today’s update with a definition that apparently has not been understood by all. “A PDR is a depository receipt issued by FUNDAPAN that evidences beneficial ownership of assets conveyed to FUNDAPAN…etc.…a receipt of a conveyance into “FUNDAPAN”. The issuing of the PDR requires a procedure with a well-established protocol with check and balances. When the procedure is not followed precisely, the result is a bogus PDR.

A PDR is not a baseless pronunciation by the “PDREX” or any other entity, such as The Deposit Credit Corporation (“DCC”) for America II. It is a receipt issued by “FUNDAPAN”. This procedure has to comply with all the necessary steps…first: all conveyances must be accepted by and received by “FUNDAPAN” beyond a shadow of doubt, this mean that the final PDR document has to be countersigned by the Protector, once the conveyance is logged in “FUNDAPAN” safekeeping Vault at HSBC and/or other banking institutions in Pan-America.

Apparently, “PDREX” in an effort to create rapid growth and outstanding results in the case of the pnmsPDR’s, a situation emerged where a large number of the pnms shares intended to go to “FUNDAPAN” were never forwarded to “FUNDAPAN”, therefore, the due process for the issuance of the pnms PDR was circumvented and those pnms shares missing are alleged under “DCC” protection, a clear violation of Law 25, 12th June 1995.

What does this mean?

This means that according to the basic definition of the PDR… “A PDR is a depository receipt issued by FUNDAPAN that evidences beneficial ownership of assets conveyed to FUNDAPAN”…A conveyance into “FUNDAPAN” is absolutely necessary to comply. Therefore, by not following procedures the management of the “PDREX” never sent the pnms shares to “FUNDAPAN” from the “DCC” in America II; this inadequacy have created the essence of what we investigate today. As far as we know from verbal information given to the investigative team the pnms shares short are in the (“DCC”) or somewhere out of FUNDAPAN control in America II.

Micheal Scott Terrell, the CEO of “PDREX”, now suspended until further notice, has provided the PDREX software to a team of specialists contracted by AMERISOL, S.A., in Costa Rica on behalf of Grupo PANAMERSA to verify, under strict security measures, the full contents of the information in the data base of the software and we are sure that we will have precise information on who is who and if the software provided is real. (The never ending saga of the PDREX software began with DESIMPLEX…! This makes me wonder about that incident…why did it happen?)

To date FUNDAPAN does not have the TOTAL pnms shares as reported by ”PDREX” and is also awaiting for all the other documents requested such as DCC’s and PNMS bank accounts and all other pertinent information required to find and to know the truth.

Operational inadequacies, bad management, the lack of proper checks and balances and unattainable promises, we hope are the basic problems we face, however, there can be other agendas and issues in this embarrassing situation of the “PDREX” or the “PDREXGATE” as referred to it by me.

The PANAMERSA movement promoting commercial integration in the Western Hemisphere talks about behavior, integrity, rights and responsibilities and many more, please read below:



“Pan Americans, collectively, will do good and avoid bad; furthering all other individual rights and responsibilities, displaying a progressive movement in concert with nature’s mandate”…

Well, Pan-Americans, in the case of the “PDREX”; I have to conclude that the management of the “PDREX” has proven to be the antithesis of our PANAMERSA thesis.


As Founder and President of Grupo PANAMERSA (all sense of belonging companies, private, public, crown stock companies and Fundacion Pan America “FUNDAPAN”) a militant promoter of our PANAMERSA philosophy, I have to accept responsibility for these inadequacies and failures. Furthermore, WE will hold morally and legally responsible all management board members past or present of Grupo PANAMERSA for any of these wrong and equivocate actions and will prosecute to the full extent of our judicial system, anywhere in Pan America.

I believe in Grupo PANAMERSA; I will give my life for its success… nothing or no one will be permitted to bring shame and destruction to this great cause for all without frontiers.

We will continue to upgrade the success of this investigation. On the next blog we'll talk about our beginnings in America II at the third quarter of 2006 and explain how the relationship began with Micheal Scott Terrell and the merger of Pay Pro Inc., into the Pan-American integration movement, and its evolution to become PANAMERSA Corporation “pnms:PK”.

Once we end this ordeal in a positive way pnms:PK pps will show its great potential.

All pnmsPDR holders are asked to continue to send their claims to protector@fundacion-panamerica.com - all claims will be reviewed in a timely basis.

Thank you for listening my friends, together we will succeed!!!

Best regards Pan Americans,

Pedro Borges Fiol
Founder-Protector
FUNDAPAN

- PAN NEWS Network -

Leaders to rethink global finance…

President George W. Bush has invited world leaders to gather in the US by the end of the year to discuss reform of the global financial system… But the agenda is unclear and differences are already emerging:

Mr Bush said, “Any plan must not undermine free markets”.

Mr Sarkozy said "hateful practices" must be abandoned.

“We cannot continue along the same lines because the same problems will trigger the same disasters” said Mr. Sarkozy.

New order!

(Is Socio-capitalism, a new order? “PANAMERSA’s thesis” )

The crisis could offer a "great opportunity" to build the capitalism of the future and leave behind the "hateful practices" of the past.

The hedge funds; tax havens and financial institutions operating without supervision should all be re-thought.

"This is no longer acceptable. This sort of capitalism is a betrayal of the sort of capitalism we believe in" said President Sarkozy.

"We need a new global financial order," the French leader warned the world could not "continue to run the economy of the 21st Century with instruments of the economy of the 20th Century".

Details of the summits are still to be worked out, but White House spokesman Tony Fratto said the first was likely to be held in November.

He added that Mr. Sarkozy had recommended New York as a location. UN Secretary General Ban Ki-moon has proposed using the organization’s headquarters there as a venue.

Grupo PANAMERSA

- PAN NEWS Network -

Important information to all Pan Americans without frontiers…

I will never forget this day as it is a sad day in our quest for the commercial integration of Our America.

Almost thirty days ago the World changed forever when the capital markets began a global meltdown and as of today it continues as a complete overhaul and restructuring to protect all the affected people. We at Grupo PANAMERSA and the PANAMERSA movement have also been a target of our own inadequacies and poor management to say the least. I am very sorry to announce that Fundacion Pan America “FUNDAPAN” has begun the necessary legal steps to intervene administratively the PDR Exchange (Panama), Inc., today known as PDREX.COM Sociedad Anonima, in order to investigative and audit its operations, and to find out about complaints for non-performing and other compliance issues.

The President and CEO of PDREX.com, Sociedad Anonima, Micheal Scott Terrell, “MST”, will be temporally suspended to facilitate this operation. MST has been asked for all documentary information such as: safekeeping, conveyance contracts, back office accounting and Bank statements for the Deposit Credit Corporation, a legal depository entity for FUNDAPAN, in America II; all this without compromising protected information. Mr. Terrell is fully cooperating and has our full support and we are assuming no wrongdoing until proven otherwise. The PDRex has operated independently from the rest of PANAMERSA and it is a Beneficiary of FUNDAPAN. All members will be fully advised of this operation and the results. A special email has been set up for information:

protector@fundacion-panamerica.com

Grupo PANAMERSA will continue with its business plan and philosophies. PANAMERSA is located in San Jose, Costa Rica, a naturally neutral country that is not affected by the wintry extremes or the occasional political tantrums at either end of the hemisphere.

We Pan Americans, as a whole, make up PANAMERSA. We need only listen to our own collective inner voices. Those natural voices are telling us that we can create a new climate in which human needs and values can be nurtured one more time: a Pan American society that supports the western hemisphere family as the mainstay of the world community; a responsible society that values excellence and the common good over greed and power; a caring society that promotes decency and reciprocity in our relations with others and encourages the individual to make a connection with something larger that one’s own life.

We are sorry to have to take this action but we will overcome.

Pedro Borges Fiol
Grupo PANAMERSA

- PAN News Network -

The Gold Rush!

By Bethany Bell
BBC News, Vienna

There's a new gold rush.

The financial crisis is prompting people to look for safer forms of investment than stocks and shares.

Gold bars produced in Austria
Both international speculators and ordinary Austrians want to get their hands on gold The interest in gold coins is so great that many of the world's major mints are struggling to keep up with demand, including the Austrian Mint, which produces the Vienna Philharmonic - one of the best-selling bullion coins worldwide.

Sales of Vienna Philharmonic gold coins have gone up by more than 230% since last year. Kerry Tattersall, the director of marketing at the mint, says production has gone into overdrive. "We are running at present something like three shifts on all of the machines, on the presses, producing both gold and the silver bullion coins.

How gold coins are made
"We've actually got delays in delivering orders in silver. With gold, we are just about keeping pace, but it is a bit of a struggle." In September alone, the mint sold 100,000 ounces in gold coins - in normal times it would take three to four months to sell that much. Mr Tattersall says people are looking for security. "We are seeing a lot of panic buying at the moment. People are losing confidence in the economy - whether that is justified or unjustified is a matter of opinion. But we are seeing a lot of people looking for a safe haven."

King's ransom
In the mint, chunks of gold are melted down in a fiery furnace. Then a stream of molten metal is formed into a thin strip of gold, out of which the blank coins are cut. Later the blanks are struck with the design of violins and musical instruments. The Austrian mint, in the heart of Vienna, was founded more than 800 years ago to make coins out of the silver ransom paid for King Richard the Lionheart, who was taken prisoner in Austria on his way home from the Crusades. It is a sign of the importance people have attached to precious metals over the centuries. But there is no such thing as a completely safe investment.

Vienna Philharmonic gold coins
The Vienna Philharmonic is one of the world's best-selling bullion coins Gold, like all commodities, is vulnerable to fluctuations in price. Prices tumbled in 1999 when Gordon Brown announced a decision to sell off some of the Bank of England's gold reserves. Robert Stoeffele, an analyst at Austria's Erste Bank, says until recently there was less interest in gold as an investment. "We forgot the appeal of gold in the last 28 years because we had a bear market in gold. But within the last few years we have seen a huge fundamental bull market for gold. "Gold is like a thermometer for the financial markets. I'd say we've got fever," he said.

Life savings
But rising demand for gold is not just a phenomenon of global finance. Ordinary Austrians, shocked by the precipitous falls in their own stock market - which was suspended this week for the first time ever - are also looking for a more solid store of wealth. The shop at the Austrian Mint usually specialises in selling collectors' coins. But these days, a number of customers are buying bullion there - in bulk. I saw one middle-aged couple handing over thousands of euros in cash, in exchange for dozens of 1oz Vienna Philharmonic gold coins. A little later, a Viennese pensioner took a thick wad of 500-euro notes out of her handbag, and gave it to the sales assistant. He sold her a large gold bar, which looked as though it weighed a kilo. "I have taken one piece of gold," she told me. "You see, I am old, and I have earned money all my life and now I have the money in the bank and I am afraid of the financial situation, that it will disappear. Gold is safe, I think."

FUNDAPAN

- PAN News Network

Part II: A message to all Pan Americans…

The Pan American Credo: ABOVE ALL PanAmericanism is the development, teaching and forging of a sense of belonging … a state of being Pan American. To fulfill this quest, we will:


* Promote and assist the commercial integration of Latin American and the Caribbean into the economic development of Pan America
* Protect and improve interlocution, the unrestricted, uncensored objective communication amongst all Pan American people
* Promote collective understanding and self-determination of the people and their governments, along with collective responsibility to others
* Lobby all Pan American governments officials to improve social responsibility, trade relations and economic development
* Protect all Pan American resources and assets
* Establish mutually beneficial commercial and development information networks. Offer and exchange all of the above.


Pan Americans, collectively, will do good and avoid bad; furthering all other individual rights and responsibilities, displaying a progressive movement in concert with nature’s mandate.

Participation: PANAMERSA promotes popular participation in a movement for the people, by the people, to better all people of the Western Hemisphere by enlisting participation from private enterprises, business associations, government officials, public entities, political parties, foundations and all concerned citizens throughout the Western Hemisphere.

We Pan Americans, as a whole, make up PANAMERSA. We do not need some strong charismatic leader to tell us what we should want. We need only listen to our own collective inner voices. Those natural voices are telling us that we can create a new climate in which human needs and values can be nurtured one more time: a Pan American society that supports the western hemisphere family as the mainstay of the world community; a responsible society that values excellence and the common good over greed and power; a caring society that promotes decency and reciprocity in our relations with others and balance between the opposing but inseparable aspects of the decency and reciprocity in our relations with others and balance between the opposing but inseparable aspects of the individual self-nation; a society that rewards effort, that is sociocapitalistic, yet still encourages the individual to make a connection with something larger that one’s own life.

WE, as Pan Americans, fighting for social responsibility are the last link needed to catty out PanAmericanism, to inspire it.

Organization: PANAMERSA’S organization is based upon an orderly structure that furthers its goals and objectives. That means integration of the north and the south. This idea is not for integration to flow from the north to south, neither from the south to the north. The idea is a vision, and the vision has a core, a center.

Grupo PANAMERSA (PANAMERSA’S commercial unit) needs to be headquartered in the center of the Western Hemisphere, in La Habana, Cuba where integration can flow both to the north and to the south. From one perspective the north and the south are geographic and climatic opposite in spite, of the natural unity that exists amongst it's people. However, during this developing stage, the natural unity of nations and their people, is sometimes hidden by the superficial restrictions, oppressive dominance and political meddling of our various governments. Therefore. Grupo PANAMERSA is presently located in San Jose, Costa Rica, a naturally neutral country that is not affected by the wintry extremes or the occasional political tantrums at either end of the hemisphere.

If one were to drop a pebble into the center of an abnormally long pool of water the ripples would spread to all points of the pool just as PanAmericanism and the PANAMERSA message spreads North and South from Costa Rica.

Pursuant to this philosophy: Pan America Sociedad Anonima - PANAMERSA, presently the holding company for the sense of belonging entities (also known as Grupo PANAMERSA), created a business plan structure: A Foundation (FUNDAPAN) as an authorized depository to protect the assets of all beneficiaries without frontiers, four Crown Corporations and many operating, associates and beneficiaries commercial entities in four distinct marketing regions today known as:

AMERICA I: Cuba, Jamaica, Haiti, Dominican Republic, Puerto Rico and the rest of the Antilles

AMERICA II: Canada, USA, and Mexico

AMERICA III: Belize, Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica and Panama

AMERICA IV: Venezuela, Brazil, Uruguay, Paraguay, Bolivia, Argentina, Chile, Peru, Ecuador and Colombia

European Union: PANAMERSA Hispania

Summary: PANAMERSA is a cooperative effort that affects every Pan American.

“The more commitment that we put into the Pan American development effort, and the more determination that we put into reaching our goals. The best will be our rewards”.


Pedro Borges Fiol

Grupo PANAMERSA

- PAN NEWS Network -