Corus Radio and CKNW have long featured “Business Analyst” Michael Levy and lately he has been one of the point players in NW’s effort to sell an unattractive tax to an unhappy public for an unpopular government. However, regular folks should examine an advisor’s reputation before considering his advice.
Apparently expert in precious metals and currency trading, resource exploration and extraction, tax, economics, business development, finance and futurology, gold bug Michael Levy has been a broadcaster in Vancouver since 1986, often working with the Premier Campbell’s brother Michael. Levy is associated with currency and precious metals trader Border Gold Corp. but has a history of promoting questionable stocks, some of them penny-dreadfuls. Along with providing regular radio commentary on the intricacies of business and finance, laced always with his laissez-faire capitalist viewpoint, Levy also makes appearances on TV, Global TV of course.
David Baines, the multi-award winning investigative reporter for the Vancouver Sun business section, has done incisive examination of the ethical standards of promoters and compliant media personalities that assist extraordinarily lucrative “pump and dump” schemes. For example, in 2006, the CKNW program Money Matters hosted by Michael Levy touted Lexington Resources Inc. By 2008, the SEC was claiming that West Vancouver promoter Gordon Brent Pierce and others gained $13 million dumping Lexington shares through an offshore bank. After Baines raised the issue, Levi quit as host of Money Matters. Baines wrote:
“His departure from that program followed a series of bullish and upbeat interviews he had conducted with representatives of junior exploration companies that trade on the OTC Bulletin Board. Among them were Lexington Resources and Uranium Energy.”
The Sun’s David Baines began a new series this week, the first article: West Vancouver stock promoter works quietly, profitably and behind the scenes. Brent Pierce, Michael Levy’s friend, remains active. Watch out.
In April 2009, Levy appeared on CKNW a short while after Gordon Campbell had explained to Bill Good why the minimum wage remained frozen at 2001 rates. Good asked Michael Levy if he agreed with not raising the minimum wage. Levy said, “Oh yes, I 100% agree that you can’t raise the minimum wage.” Then Levy quoted from a supporting report produced by the Fraser Institute, bastion of the plutocracy.