Post by kenshin7 on Apr 28, 2010 8:10:16 GMT -5
Hodges and Associates INTERIM UPDATE
« Thread Started Today at 7:15pm »
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I have previously stated that I would not provide an “update” until we had confirmation of economic receipt or, I became convinced that payment to CMKX shareholders would not be forthcoming in a timely manner. This “Interim Update” is the exception that proves the rule, so to speak. However, it has been a relatively long period [certainly more than I originally anticipated] since I communicated with the shareholders at large, and there is material information to impart.
Before providing some information about what has been transpiring and our current status, let me address a few other matters:
• I am an attorney and have been retained by seven brave and exceptional shareholders that represent a cross section of the proposed class.
• The Bivens action which I have filed not only sets forth the facts as I know them, it seeks to become a class-action on behalf of all shareholders.
• At this instant in time however, I literally represent only the seven named plaintiffs; as a result, I am constrained in the types and extent of information which I can provide to putative members of the class.
• In the unlikely event that this litigation continues forward, a motion will be filed with the Court requesting that a class be certified. If granted, at that point I will, presumably, be appointed by the Court to continue acting as counsel for the class; thereafter, the Court will be required to approve any and all settlements, and others matters.
• The status of the litigation can at all times be monitored on PACER; as a result, we do not respond to inquiries at my office; accordingly, please do not contact us directly for such information.
• For everyone’s information, all defendant’s have been served, and an initial scheduling conference, originally set by the Court to be held on April 26, 2010 has been continued by mutual agreement of the parties [with consent of the Court] to July 26, 2010.
• The litigation will be aggressively pursued until such time as all CMKX shareholders have been paid.
In a similar vein, please understand that we are not involved in any ongoing negotiations with the SEC and/or their representatives with a view to compromising and/or otherwise attempting to resolve claims of the shareholders. We have set forth in the complaint what the shareholders are entitled to receive; compromise is not anything that the shareholders want, desire, or would tolerate or accept.
The belief of some that yelling and screaming, loudly and publicly enough, can somehow “force” release of the CMKX moneys, is erroneous and misplaced; it will not. Having said that, I do believe that media exposure is beneficial in the sense that it keeps the pressure on the entire financial community.
Inquiring minds want to know: what is our status; what has been going on; what is holding up economic receipt; when will our money be released; and how much money is there? Let me address each of these questions, to the extent I am able, separately:
1. How Much Money – As I have said before, we have persuasive evidence to all of the facts alleged as such in the complaint; accordingly, there is a total of 3.87 Trillon Dollars.
2. When is Release – The CMKX distribution funds will be released within a very short time after there is confirmation of Economic Receipt. What does that mean? It means that currently in process is a massive shift of wealth within the US and the world community; that includes: pay out of all the domestic settlements; institution of the US dollar re-funding project; pay out of world settlements; and, distribution of funds to many other programs. This involves a total of more than $ 42 Trillion. Economic Receipt occurs when all trustees have access to all of the funds they are responsible for.
3. Our Status – We are literally on the thresh-hold. This means that the “work” remaining to be finished will not consume more hours than can be accomplished within one day. We have been at this point now for more than a few weeks.
4. The Delay – Although I could write a book about what’s been going on behind the scenes to cause this additional delay, I’ll try to give you the condensed version:
First - Please be aware and understand that there is an economic war raging in the background.
Second - The naked corruption that is endemic in D.C. is more than most can comprehend; it is clear that these miscreants have no regard for the US Constitution, Federal Laws and Regulations, nor even any sense of simple morality. They are convinced that they are above any constraint that might apply to lesser mortals and that no enforcement activity will ever successfully address them. I hasten to add that such opinions are not universal; having said that, it is more widespread than not.
Third - These miscreants are, in effect, fighting for their lives – at least that part of their lives that establishes an environment in which they can continue to lie, cheat, steal, and mortgage your progeny’s lives, all for their personal gain. Accordingly, they will fight until the doors are all closed by a power that they cannot subvert. That fight continues as I prepare this interim update.
Fourth - The good news is, we are winning the battle. The circle within which these bad apples can operate draws inexorably smaller with each attempt to bribe, suborn and otherwise corrupt the system, and the people within it. By way of example, I was advised that over the weekend one State Department person, 10 bankers and 18 Federal Reserve people were arrested and dealt with.
Fifth – By what date will we have Economic Receipt, you ask. We will have it when this initial battle phase comes to a successful conclusion. That will be in the very near future in my opinion; the current schedule based on advice I received this afternoon is that it should all be finished, with funds in the Trustee’s hands, by week’s end.
I want to extend our heartfelt thanks to those of you who continue to demonstrate support and encouragement for our efforts. We remain very optimistic for the long term. Rest assured that the fight will continue, and we will prevail.
Al Hodges
« Thread Started Today at 7:15pm »
--------------------------------------------------------------------------------
I have previously stated that I would not provide an “update” until we had confirmation of economic receipt or, I became convinced that payment to CMKX shareholders would not be forthcoming in a timely manner. This “Interim Update” is the exception that proves the rule, so to speak. However, it has been a relatively long period [certainly more than I originally anticipated] since I communicated with the shareholders at large, and there is material information to impart.
Before providing some information about what has been transpiring and our current status, let me address a few other matters:
• I am an attorney and have been retained by seven brave and exceptional shareholders that represent a cross section of the proposed class.
• The Bivens action which I have filed not only sets forth the facts as I know them, it seeks to become a class-action on behalf of all shareholders.
• At this instant in time however, I literally represent only the seven named plaintiffs; as a result, I am constrained in the types and extent of information which I can provide to putative members of the class.
• In the unlikely event that this litigation continues forward, a motion will be filed with the Court requesting that a class be certified. If granted, at that point I will, presumably, be appointed by the Court to continue acting as counsel for the class; thereafter, the Court will be required to approve any and all settlements, and others matters.
• The status of the litigation can at all times be monitored on PACER; as a result, we do not respond to inquiries at my office; accordingly, please do not contact us directly for such information.
• For everyone’s information, all defendant’s have been served, and an initial scheduling conference, originally set by the Court to be held on April 26, 2010 has been continued by mutual agreement of the parties [with consent of the Court] to July 26, 2010.
• The litigation will be aggressively pursued until such time as all CMKX shareholders have been paid.
In a similar vein, please understand that we are not involved in any ongoing negotiations with the SEC and/or their representatives with a view to compromising and/or otherwise attempting to resolve claims of the shareholders. We have set forth in the complaint what the shareholders are entitled to receive; compromise is not anything that the shareholders want, desire, or would tolerate or accept.
The belief of some that yelling and screaming, loudly and publicly enough, can somehow “force” release of the CMKX moneys, is erroneous and misplaced; it will not. Having said that, I do believe that media exposure is beneficial in the sense that it keeps the pressure on the entire financial community.
Inquiring minds want to know: what is our status; what has been going on; what is holding up economic receipt; when will our money be released; and how much money is there? Let me address each of these questions, to the extent I am able, separately:
1. How Much Money – As I have said before, we have persuasive evidence to all of the facts alleged as such in the complaint; accordingly, there is a total of 3.87 Trillon Dollars.
2. When is Release – The CMKX distribution funds will be released within a very short time after there is confirmation of Economic Receipt. What does that mean? It means that currently in process is a massive shift of wealth within the US and the world community; that includes: pay out of all the domestic settlements; institution of the US dollar re-funding project; pay out of world settlements; and, distribution of funds to many other programs. This involves a total of more than $ 42 Trillion. Economic Receipt occurs when all trustees have access to all of the funds they are responsible for.
3. Our Status – We are literally on the thresh-hold. This means that the “work” remaining to be finished will not consume more hours than can be accomplished within one day. We have been at this point now for more than a few weeks.
4. The Delay – Although I could write a book about what’s been going on behind the scenes to cause this additional delay, I’ll try to give you the condensed version:
First - Please be aware and understand that there is an economic war raging in the background.
Second - The naked corruption that is endemic in D.C. is more than most can comprehend; it is clear that these miscreants have no regard for the US Constitution, Federal Laws and Regulations, nor even any sense of simple morality. They are convinced that they are above any constraint that might apply to lesser mortals and that no enforcement activity will ever successfully address them. I hasten to add that such opinions are not universal; having said that, it is more widespread than not.
Third - These miscreants are, in effect, fighting for their lives – at least that part of their lives that establishes an environment in which they can continue to lie, cheat, steal, and mortgage your progeny’s lives, all for their personal gain. Accordingly, they will fight until the doors are all closed by a power that they cannot subvert. That fight continues as I prepare this interim update.
Fourth - The good news is, we are winning the battle. The circle within which these bad apples can operate draws inexorably smaller with each attempt to bribe, suborn and otherwise corrupt the system, and the people within it. By way of example, I was advised that over the weekend one State Department person, 10 bankers and 18 Federal Reserve people were arrested and dealt with.
Fifth – By what date will we have Economic Receipt, you ask. We will have it when this initial battle phase comes to a successful conclusion. That will be in the very near future in my opinion; the current schedule based on advice I received this afternoon is that it should all be finished, with funds in the Trustee’s hands, by week’s end.
I want to extend our heartfelt thanks to those of you who continue to demonstrate support and encouragement for our efforts. We remain very optimistic for the long term. Rest assured that the fight will continue, and we will prevail.
Al Hodges
