Post by soonerlew on Nov 1, 2010 23:54:43 GMT -5
lowriderbill
DIAMOND DIGGER
Let's Get Down To Business
« Thread Started Today at 9:02pm »
--------------------------------------------------------------------------------
Good Evening Everyone,
It’s been a long time since I’ve posted on a regular basis and I hope everyone is doing well. A couple of years ago when I decided to leave the boards for the most part, I was hopeful that our CMKX journey would soon come to a close and we could celebrate. It’s frustrating that we’re still here wondering where our payment is instead of making the changes in our lives we hope to. That said I’m still as confident as ever that we’ll be paid, but I simply don’t know when. Lately the rumor mill has reached a fever pitch and I feel it’s necessary to offer my opinion on some items in hopes of keeping our eye on the prize. It’s easy to get distracted by all of the noise.
I want to tell everyone once again that I’m not privy to any inside information nor do I have any secret contacts. I’ll be honest and tell you that I don’t talk to anyone when it comes to CMKX anymore. A few years ago I belonged to a close-knit group of investors that bounced ideas back and forth. We were able to put many pieces of the puzzle together and then shared those conclusions with the boards at that time. Since that time most of the group have gone their separate ways to focus on their respective lives. We all have to work to pay the bills and have our own challenges to deal with. We still talk on an occasional basis, but none of them seem interested in discussing CMKX. They want to be paid like the rest of us, but choose to ignore it until they receive notification.
If you go back and check my history you’ll find some very detailed posts regarding how I believed IBM’s operation was executed. I won’t take the time to rehash the details now, but suffice it to say that what I concluded regarding our funds being held in trust was correct. A forced buy-in was conducted where each entity short in CMKX stock was required to pay for it’s electronic markers. When those electronic markers went away a certificate was issued to the shareholder. Once the forced buy-in was complete, the new list of shareholders was certified in an interpleader. If any of the rumors end up being true, those funds held for us were supposed to be distributed somewhere around 2006. It appears that some sort of agreement was reached with the US government though and that we would be paid at a later date.
Fast forward to present day 2010 and we ask ourselves why are we still waiting? If the funds are held in trust and the Rule of Law is being observed, then why can’t the funds simply be distributed? Well, Mr. Hodges has already told us that our own government is the obstacle and the one holding things up. If that were the case, shareholders would certainly like to know how the government could possibly stand in the way. Well, my opinion is much more simple than all the rumors and other mumbo jumbo being passed around. It requires a bit of explanation though.
When the proceeds were collected from those short in CMKX (including the DTCC which is a subsidiary of the Federal Reserve) they had to be invested and held in something safe. What monetary or investment vehicle in the world has enough quantity of “units” for $3.8 trillion dollars to be held that also pays interest? Cash? Stocks? CD’s? Gold? Oil? I think not.
In my opinion the only vehicle that fits the bill is the US Treasury bond. Therefore the rumors of the government “stealing” or “borrowing” our money are somewhat true. When someone buys bonds they become the creditor and loan the cash to the debtor. The debtor is then required to pay periodic interest payments over a specified amount of time. Once that bond reaches the end of the specified time, or maturity, the original investment is then paid back. In technical jargon the bond is redeemed.
The only problem that could arise is if the maturity date is reached and the debtor doesn’t have the cash to repay the original investment. At that point the debtor must issue new bonds so that the proceeds can be used to repay the original creditor. In our case, the US government doesn’t have the cash to allow $3.8 trillion worth of Treasury bonds to be redeemed all at once (the reason we know this is the US takes in about $2.5 trillion in revenue each year and pays out close to $4 trillion, give or take. That’s where the yearly budget deficit comes from and why we have to borrow money from China, Japan, etc). In the end, Uncle Sam has to go out and sell new bonds so he can use the proceeds to cover the old bonds being redeemed. Once this process is finished and the cash is in the trust, then ER is received and we move toward payment.
Remember, Hodges was recently in Richmond Virginia for meetings with the Fed. Please note that the Federal Reserve Bank in Richmond processes currency, check, and electronic payments for banks and also provides financial services to the US Treasury. Coincidence? I doubt it. It’s KISS simple if you ask me.
There are many other ideas floating around, all of which have merit. I don’t have time to address them all, but have a couple of comments.
First, I don’t believe we’re waiting for a new Treasury dollar backed by hard assets. I believe that may come at some point down the road, but for now the only thing the government can inflate in the quantity it needs is the Federal Reserve note. Markets and nations around the world will closely watch the supply of any new currency. A new currency also signifies a technical default on the national debt and renders the existing currency virtually worthless. Just think of a massive reverse split on savings, pensions, etc.
Second, I don’t think the new bills due out next month are a new currency. I believe they are the first batch of the new $100 dollar bills set to go into circulation by the first of the year.
Third, I don’t think we’re waiting for Basel III. Full compliance isn’t due for several more years. If we were really moving toward a new Treasury dollar to get away from the Federal Reserve, then why are we worried about being Basel compliant? Hell, Ron Paul has been trying his whole career to audit the Fed and Fort Knox with no luck! Basel, ie the Bank for International Settlements, ie the central banks of Western Nations will not give up power. Basel is simply a regurgitation of the existing banking system with some new requirements. I don’t see how US banks (which are privately owned by shareholders) will automatically be changed over to Treasury banks. We still observe the Rule of Law here unless the government is going to pull a fast one and nationalize all banks.
Fourth, I don’t believe that the share structure will be changed from where it is now. I already stated an interpleader blessed the shareholder list and distinguished between righteous and unrighteous shares. If there were still bad guys left to pay, then an interpleader wouldn’t have taken place. Company management has publicly stated the share count and recently told us financials are complete all the way back to 2002. Whether the full $3.8 trillion gets distributed to the shareholders or not, you’ll need to divide the amount by some 600 plus billion shares. I’ve always believed a substantial portion will get distributed to us, but that a significant amount will also go to the company to develop the claims in a new entity. We still have yet to find out what our portion is.
Finally, I’m sure there are other rumors I forgot to address. There’s been so many of them that I probably lost count. Poof, Casper, Wanta, Cotrell, Elvis, Area 54, Roswell, whatever! Sounds like some kind of Sci-Fi movie!
In conclusion, we simply have to remain patient and support the effort to get our funds released. I realize the plaintiffs are unable to share or verify any of my thoughts, but I hope I’m close. The plaintiffs and Hodges are pissed for good reason, but I don’t think it’s any more than butt-dragging on the part of Uncle Sam and his stepchild the Federal Reserve. Get those bonds redeemed so ER can be received and we can get paid! Keep it simple stupid!
Lowriderbill
millionaires.proboards.com/index.cgi?board=main&action=display&thread=34932
DIAMOND DIGGER
Let's Get Down To Business
« Thread Started Today at 9:02pm »
--------------------------------------------------------------------------------
Good Evening Everyone,
It’s been a long time since I’ve posted on a regular basis and I hope everyone is doing well. A couple of years ago when I decided to leave the boards for the most part, I was hopeful that our CMKX journey would soon come to a close and we could celebrate. It’s frustrating that we’re still here wondering where our payment is instead of making the changes in our lives we hope to. That said I’m still as confident as ever that we’ll be paid, but I simply don’t know when. Lately the rumor mill has reached a fever pitch and I feel it’s necessary to offer my opinion on some items in hopes of keeping our eye on the prize. It’s easy to get distracted by all of the noise.
I want to tell everyone once again that I’m not privy to any inside information nor do I have any secret contacts. I’ll be honest and tell you that I don’t talk to anyone when it comes to CMKX anymore. A few years ago I belonged to a close-knit group of investors that bounced ideas back and forth. We were able to put many pieces of the puzzle together and then shared those conclusions with the boards at that time. Since that time most of the group have gone their separate ways to focus on their respective lives. We all have to work to pay the bills and have our own challenges to deal with. We still talk on an occasional basis, but none of them seem interested in discussing CMKX. They want to be paid like the rest of us, but choose to ignore it until they receive notification.
If you go back and check my history you’ll find some very detailed posts regarding how I believed IBM’s operation was executed. I won’t take the time to rehash the details now, but suffice it to say that what I concluded regarding our funds being held in trust was correct. A forced buy-in was conducted where each entity short in CMKX stock was required to pay for it’s electronic markers. When those electronic markers went away a certificate was issued to the shareholder. Once the forced buy-in was complete, the new list of shareholders was certified in an interpleader. If any of the rumors end up being true, those funds held for us were supposed to be distributed somewhere around 2006. It appears that some sort of agreement was reached with the US government though and that we would be paid at a later date.
Fast forward to present day 2010 and we ask ourselves why are we still waiting? If the funds are held in trust and the Rule of Law is being observed, then why can’t the funds simply be distributed? Well, Mr. Hodges has already told us that our own government is the obstacle and the one holding things up. If that were the case, shareholders would certainly like to know how the government could possibly stand in the way. Well, my opinion is much more simple than all the rumors and other mumbo jumbo being passed around. It requires a bit of explanation though.
When the proceeds were collected from those short in CMKX (including the DTCC which is a subsidiary of the Federal Reserve) they had to be invested and held in something safe. What monetary or investment vehicle in the world has enough quantity of “units” for $3.8 trillion dollars to be held that also pays interest? Cash? Stocks? CD’s? Gold? Oil? I think not.
In my opinion the only vehicle that fits the bill is the US Treasury bond. Therefore the rumors of the government “stealing” or “borrowing” our money are somewhat true. When someone buys bonds they become the creditor and loan the cash to the debtor. The debtor is then required to pay periodic interest payments over a specified amount of time. Once that bond reaches the end of the specified time, or maturity, the original investment is then paid back. In technical jargon the bond is redeemed.
The only problem that could arise is if the maturity date is reached and the debtor doesn’t have the cash to repay the original investment. At that point the debtor must issue new bonds so that the proceeds can be used to repay the original creditor. In our case, the US government doesn’t have the cash to allow $3.8 trillion worth of Treasury bonds to be redeemed all at once (the reason we know this is the US takes in about $2.5 trillion in revenue each year and pays out close to $4 trillion, give or take. That’s where the yearly budget deficit comes from and why we have to borrow money from China, Japan, etc). In the end, Uncle Sam has to go out and sell new bonds so he can use the proceeds to cover the old bonds being redeemed. Once this process is finished and the cash is in the trust, then ER is received and we move toward payment.
Remember, Hodges was recently in Richmond Virginia for meetings with the Fed. Please note that the Federal Reserve Bank in Richmond processes currency, check, and electronic payments for banks and also provides financial services to the US Treasury. Coincidence? I doubt it. It’s KISS simple if you ask me.
There are many other ideas floating around, all of which have merit. I don’t have time to address them all, but have a couple of comments.
First, I don’t believe we’re waiting for a new Treasury dollar backed by hard assets. I believe that may come at some point down the road, but for now the only thing the government can inflate in the quantity it needs is the Federal Reserve note. Markets and nations around the world will closely watch the supply of any new currency. A new currency also signifies a technical default on the national debt and renders the existing currency virtually worthless. Just think of a massive reverse split on savings, pensions, etc.
Second, I don’t think the new bills due out next month are a new currency. I believe they are the first batch of the new $100 dollar bills set to go into circulation by the first of the year.
Third, I don’t think we’re waiting for Basel III. Full compliance isn’t due for several more years. If we were really moving toward a new Treasury dollar to get away from the Federal Reserve, then why are we worried about being Basel compliant? Hell, Ron Paul has been trying his whole career to audit the Fed and Fort Knox with no luck! Basel, ie the Bank for International Settlements, ie the central banks of Western Nations will not give up power. Basel is simply a regurgitation of the existing banking system with some new requirements. I don’t see how US banks (which are privately owned by shareholders) will automatically be changed over to Treasury banks. We still observe the Rule of Law here unless the government is going to pull a fast one and nationalize all banks.
Fourth, I don’t believe that the share structure will be changed from where it is now. I already stated an interpleader blessed the shareholder list and distinguished between righteous and unrighteous shares. If there were still bad guys left to pay, then an interpleader wouldn’t have taken place. Company management has publicly stated the share count and recently told us financials are complete all the way back to 2002. Whether the full $3.8 trillion gets distributed to the shareholders or not, you’ll need to divide the amount by some 600 plus billion shares. I’ve always believed a substantial portion will get distributed to us, but that a significant amount will also go to the company to develop the claims in a new entity. We still have yet to find out what our portion is.
Finally, I’m sure there are other rumors I forgot to address. There’s been so many of them that I probably lost count. Poof, Casper, Wanta, Cotrell, Elvis, Area 54, Roswell, whatever! Sounds like some kind of Sci-Fi movie!
In conclusion, we simply have to remain patient and support the effort to get our funds released. I realize the plaintiffs are unable to share or verify any of my thoughts, but I hope I’m close. The plaintiffs and Hodges are pissed for good reason, but I don’t think it’s any more than butt-dragging on the part of Uncle Sam and his stepchild the Federal Reserve. Get those bonds redeemed so ER can be received and we can get paid! Keep it simple stupid!
Lowriderbill
millionaires.proboards.com/index.cgi?board=main&action=display&thread=34932
