Post by iq on Sept 25, 2006 10:42:26 GMT -5
Today it is believed there are approximately 60,000 shareholders with a company called CMKX(CMKM Diamonds) who wish to bring forth a story that will be of public interest. We're not afraid to do unpopular things to reveal the truth. As of right now there is little public attention because no one wants to acknowledge the warnings are here, but we can no longer remain silent and allow this to go on. This is most certainly the beginning of a revolution in criminal acts, and will lead to chaos in the Marketplace, unless we can workout a resolution, change the guidelines, and software currently used by the Market Managers.
In March 2005 Kevin M. West has attempted to address this issue on a full front page ad of the Washington Post. This cost over $100,000 US, and since that day no response has been heard.
Kevin M. West is the new Contact for CMKX.
info@faulkintruth.com or webmaster@faulkingtruth.com
URL to article: www.faulkingtruth.com/Articles/LettersToEditor/1009.html
How would you feel purchasing a brand new car, paying for it and when you go to pick it up, the dealer tels you that you will need to wait for the ownership first. You wait, and wait and they already have your money in their bank account, yet the truth is that they sold your car to 12 other people.
This is exactly what is happening when we purchase stocks from our Brokers(our banks). With the new age of technology most investors now purchase stocks in electronic form which are issued in Public name, however when we attempt to request a Certificate to take ownership of these shares in our own name, they are unable to comply.
Yes Short selling is legal since the seller first borrows shares and sells them right away(thus expecting the price to fall in the near future - like an IOU), then once the price has fallen within a few days the seller buys the shares back thus making a profit.
On the other hand Naked Short Selling " NSS " is illegal as the seller never borrows shares in the first place, simply keeps on selling shares in large chunks they don't own, diluting a particular stock thus creating an imbalance between supply and demand (making it appear as though the demand is very low), the seller keeps doing this over and over till the stock price drops to a level that no one wants to consider buying any longer.
CMKX is a perfect example of NSS as we have seen billions of shares going through the system daily and the price dropping gradually all the way to 0.0001 Then even at 0.0001 we continued seeing 13Billion shares trading\day yet the price never went up, forcing the company and shareholders to loose in a predetermined outcome.
Is it not the SEC's job to identify dilution and to protect investors, yet they have not done so in our case hoping we would simply
sell what ever we had and give up. They have a bug in their computer system allowing anyone to sell shares for which they have no proof of borrowing in the first place. They know its there and have not done anything to fix it.
The solution is simple, a computer system that will simply prevent anyone from selling shares that have not been borrowed in the first place.
Why is the SEC not doing anything to prevent this ?
Are they simply putting a piece of gum over a tire hoping it won't deflate ?
We the public believe that the bodies that govern the sales of stocks are not protecting the investors.
Why does no one seem to care about our rights ?
It is ludicrous to think that no one was aware that there were so many shareholders who would be affected by the actions of the governing bodies in a currently delisted company(at our own request) called CMKM Diamonds/ CMKX.
There should be nothing surprising with respect to the finger pointing. It is time to explain to the investors why (CMKX) and the taskforce should have to prove that we the investors have been provided with shorted shares.
Which in laymen terms means that the same shares have been sold to multiple people.
To accomplish this CMKX is working with the Taskforce in generating a complete list of all the shareholders(in confidence) by asking us to request physical Certificates (like car ownership papers) of our electronic shares, and to fax them in to the Taskforce to collect the necessary physical evidence.
We feel that we are being failed by the public bodies that have been sworn to protect us with their current regulations and laws.
This is a very long and nerve wrecking task which we are all enduring to get back something that should have been ours in the first place.
Holding on to counterfeit money is considered a crime, yet holding on to shares that are owned by multiple people (shorted shares) is no different. Many of us invested thousands of dollars, without realizing that we were guaranteed to fail in the current condition of our stock markets.
The progress of the Certificate count can be viewed at:
www.cmkmtaskforce.com/
FRIZZELL LAW FIRM 602 S. Broadway Tyler, Texas 75701 (903)595-1921
It would be greatly appreciated if the media attended an Eye-Opening Event In Los Angeles, California on October 19, 2006
NAKED, SHORT AND GREEDY: Is Wall Street Abusing Short Sales?
What damage is done to investors when the system routinely tolerates stock-delivery failures?
Two class action lawsuits were filed in April 2006 in Manhattan federal court, by an electronic trading exchange
and by a hedge fund, against eleven large prime brokers. The plaintiffs allege the defendants conspired since 2000 to transact short sales without delivering shares to buyers. If true, investors who paid for tens of millions of corporate shares actually hold nothing but electronic entries.
In 2004 the Securities & Exchange Commission (SEC) adopted Regulation SHO. But Regulation SHO did not enforce strict requirements to deliver shares in a timely manner. It allowed existing failures to remain undelivered, tacitly permitting lax treatment of stock-delivery failures by brokerages, stock exchanges and clearing organizations.
Important Questions Will be Discussed
Has the SECs lax enforcement of clearing and settlement procedures created systemic risk in the United States capital markets? Does the failure to provide final delivery for stock trades undercut the rigor of investment analysis and victimize portfolio management? Are billions of dollars in investment value being drained from ordinary investors in the stock market? Does the solution lie in requiring daily reporting on stock-delivery failures and tighter stock borrow requirements? Are pension funds and individual investors already exposed to enormous losses? These questions and related issues will be discussed by three highly qualified speakers at this enlightening event.
The Panelists
Dr. Patrick Byrne, CEO of NASDAQ-traded Overstock.com, will discuss the effects on a company of high volume trading in shares apparently exceeding the number issued and outstanding, and the unwillingness of Depository Trust & Clearing Corporation to disclose data on stock-delivery failures.
Our Canadian brokerage firms also complained to the SEC about its experience trying to settle its purchases of shares in Overstock.com. The broker, Research Capital of Toronto, says it tried to buy shares of Overstock to satisfy customer orders but has never received the actual shares it bought, even after 39 attempts to force the brokers who sold it the stock to produce the shares. Research Capital says this has been going on since February 2006. "The failed deliver has simply been replaced with another delivery commitment which also fails," the brokerage says.
The Specifics
This important event will take place on Thursday, October 19, 2006 from 7:30 a.m. to 11:00 a.m., at the elegant Park Hyatt Los Angeles located at 2151 Avenue of the Stars in the Century City area of Los Angeles, California. Registration for the event
will be $45 in advance (register before October 18), $60 at the door. For further information (and secure online registration) go to: www.STPAdvisors.com/events.html
Press Contact: Irina Somerton
Somerton Public Relations & Public Affairs
Phone: 310 461 1416
Fax: 310 461 1304
Email: IS@SomertonPRPA.com
Our story needs to be heard and brought to light for the public to see.
Can we put our social security funds into a financial market that lacks the basic safeguards to keep our investments safe ?
Would you want to invest in a stock market knowing that your investment is guaranteed to fail ?
Is it not strange the TD Waterhouse will no longer accept Pink Sheet Certificates ? (Please feel free to contact them)
Is it not strange that for a few years Billions of CMKX shares were being transferred on a daily basis sometimes as high as 13Billion/day ?
Let's face it, the stock market is a battlefield. Perhaps if the media can shed some light on our story, a mutual benefit can be achieved knowing that exploiting innocent investors is simply not how business is done in todays world. Tough issues are not solved by wishful thinking, but rather by compromises and action.
To the best of our knowledge this letter is 100% accurate and deserves attention in the media today, but to get a better understanding of what we are trying to accomplish please feel free to attend the event above, since they will most certainly be able to answer many of your questions.
We can be reached at:
deepdatasearch.proboards33.com/index.cgi?board=blog
God Bless.
Guys this is only the first draft, but we still need your help so please find just a single media email contact before this Friday September 29, 2006 and paste it at the Original URL below, and we will do the rest:
deepdatasearch.proboards33.com/index.cgi?board=blog&action=display&thread=1158715703
We will hear a response through one of the sources, we have the freedome of the press right...
;D
In March 2005 Kevin M. West has attempted to address this issue on a full front page ad of the Washington Post. This cost over $100,000 US, and since that day no response has been heard.
Kevin M. West is the new Contact for CMKX.
info@faulkintruth.com or webmaster@faulkingtruth.com
URL to article: www.faulkingtruth.com/Articles/LettersToEditor/1009.html
How would you feel purchasing a brand new car, paying for it and when you go to pick it up, the dealer tels you that you will need to wait for the ownership first. You wait, and wait and they already have your money in their bank account, yet the truth is that they sold your car to 12 other people.
This is exactly what is happening when we purchase stocks from our Brokers(our banks). With the new age of technology most investors now purchase stocks in electronic form which are issued in Public name, however when we attempt to request a Certificate to take ownership of these shares in our own name, they are unable to comply.
Yes Short selling is legal since the seller first borrows shares and sells them right away(thus expecting the price to fall in the near future - like an IOU), then once the price has fallen within a few days the seller buys the shares back thus making a profit.
On the other hand Naked Short Selling " NSS " is illegal as the seller never borrows shares in the first place, simply keeps on selling shares in large chunks they don't own, diluting a particular stock thus creating an imbalance between supply and demand (making it appear as though the demand is very low), the seller keeps doing this over and over till the stock price drops to a level that no one wants to consider buying any longer.
CMKX is a perfect example of NSS as we have seen billions of shares going through the system daily and the price dropping gradually all the way to 0.0001 Then even at 0.0001 we continued seeing 13Billion shares trading\day yet the price never went up, forcing the company and shareholders to loose in a predetermined outcome.
Is it not the SEC's job to identify dilution and to protect investors, yet they have not done so in our case hoping we would simply
sell what ever we had and give up. They have a bug in their computer system allowing anyone to sell shares for which they have no proof of borrowing in the first place. They know its there and have not done anything to fix it.
The solution is simple, a computer system that will simply prevent anyone from selling shares that have not been borrowed in the first place.
Why is the SEC not doing anything to prevent this ?
Are they simply putting a piece of gum over a tire hoping it won't deflate ?
We the public believe that the bodies that govern the sales of stocks are not protecting the investors.
Why does no one seem to care about our rights ?
It is ludicrous to think that no one was aware that there were so many shareholders who would be affected by the actions of the governing bodies in a currently delisted company(at our own request) called CMKM Diamonds/ CMKX.
There should be nothing surprising with respect to the finger pointing. It is time to explain to the investors why (CMKX) and the taskforce should have to prove that we the investors have been provided with shorted shares.
Which in laymen terms means that the same shares have been sold to multiple people.
To accomplish this CMKX is working with the Taskforce in generating a complete list of all the shareholders(in confidence) by asking us to request physical Certificates (like car ownership papers) of our electronic shares, and to fax them in to the Taskforce to collect the necessary physical evidence.
We feel that we are being failed by the public bodies that have been sworn to protect us with their current regulations and laws.
This is a very long and nerve wrecking task which we are all enduring to get back something that should have been ours in the first place.
Holding on to counterfeit money is considered a crime, yet holding on to shares that are owned by multiple people (shorted shares) is no different. Many of us invested thousands of dollars, without realizing that we were guaranteed to fail in the current condition of our stock markets.
The progress of the Certificate count can be viewed at:
www.cmkmtaskforce.com/
FRIZZELL LAW FIRM 602 S. Broadway Tyler, Texas 75701 (903)595-1921
It would be greatly appreciated if the media attended an Eye-Opening Event In Los Angeles, California on October 19, 2006
NAKED, SHORT AND GREEDY: Is Wall Street Abusing Short Sales?
What damage is done to investors when the system routinely tolerates stock-delivery failures?
Two class action lawsuits were filed in April 2006 in Manhattan federal court, by an electronic trading exchange
and by a hedge fund, against eleven large prime brokers. The plaintiffs allege the defendants conspired since 2000 to transact short sales without delivering shares to buyers. If true, investors who paid for tens of millions of corporate shares actually hold nothing but electronic entries.
In 2004 the Securities & Exchange Commission (SEC) adopted Regulation SHO. But Regulation SHO did not enforce strict requirements to deliver shares in a timely manner. It allowed existing failures to remain undelivered, tacitly permitting lax treatment of stock-delivery failures by brokerages, stock exchanges and clearing organizations.
Important Questions Will be Discussed
Has the SECs lax enforcement of clearing and settlement procedures created systemic risk in the United States capital markets? Does the failure to provide final delivery for stock trades undercut the rigor of investment analysis and victimize portfolio management? Are billions of dollars in investment value being drained from ordinary investors in the stock market? Does the solution lie in requiring daily reporting on stock-delivery failures and tighter stock borrow requirements? Are pension funds and individual investors already exposed to enormous losses? These questions and related issues will be discussed by three highly qualified speakers at this enlightening event.
The Panelists
Dr. Patrick Byrne, CEO of NASDAQ-traded Overstock.com, will discuss the effects on a company of high volume trading in shares apparently exceeding the number issued and outstanding, and the unwillingness of Depository Trust & Clearing Corporation to disclose data on stock-delivery failures.
Our Canadian brokerage firms also complained to the SEC about its experience trying to settle its purchases of shares in Overstock.com. The broker, Research Capital of Toronto, says it tried to buy shares of Overstock to satisfy customer orders but has never received the actual shares it bought, even after 39 attempts to force the brokers who sold it the stock to produce the shares. Research Capital says this has been going on since February 2006. "The failed deliver has simply been replaced with another delivery commitment which also fails," the brokerage says.
The Specifics
This important event will take place on Thursday, October 19, 2006 from 7:30 a.m. to 11:00 a.m., at the elegant Park Hyatt Los Angeles located at 2151 Avenue of the Stars in the Century City area of Los Angeles, California. Registration for the event
will be $45 in advance (register before October 18), $60 at the door. For further information (and secure online registration) go to: www.STPAdvisors.com/events.html
Press Contact: Irina Somerton
Somerton Public Relations & Public Affairs
Phone: 310 461 1416
Fax: 310 461 1304
Email: IS@SomertonPRPA.com
Our story needs to be heard and brought to light for the public to see.
Can we put our social security funds into a financial market that lacks the basic safeguards to keep our investments safe ?
Would you want to invest in a stock market knowing that your investment is guaranteed to fail ?
Is it not strange the TD Waterhouse will no longer accept Pink Sheet Certificates ? (Please feel free to contact them)
Is it not strange that for a few years Billions of CMKX shares were being transferred on a daily basis sometimes as high as 13Billion/day ?
Let's face it, the stock market is a battlefield. Perhaps if the media can shed some light on our story, a mutual benefit can be achieved knowing that exploiting innocent investors is simply not how business is done in todays world. Tough issues are not solved by wishful thinking, but rather by compromises and action.
To the best of our knowledge this letter is 100% accurate and deserves attention in the media today, but to get a better understanding of what we are trying to accomplish please feel free to attend the event above, since they will most certainly be able to answer many of your questions.
We can be reached at:
deepdatasearch.proboards33.com/index.cgi?board=blog
God Bless.
Guys this is only the first draft, but we still need your help so please find just a single media email contact before this Friday September 29, 2006 and paste it at the Original URL below, and we will do the rest:
deepdatasearch.proboards33.com/index.cgi?board=blog&action=display&thread=1158715703
We will hear a response through one of the sources, we have the freedome of the press right...
;D