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Post by soonerlew on Nov 14, 2007 8:20:52 GMT -5
By: rosencrantz2010 14 Nov 2007, 06:59 AM EST Msg. 623985 of 623990 (This msg. is a reply to 623982 by bobhwang.) Jump to msg. # From The Times (tks, bobhwang,,, naked shorting an official problem in London.) November 14, 2007 Stock exchange to crack down on speculators as Northern Rock is lined up for disposal Siobhan Kennedy and Martin Waller The London Stock Exchange yesterday signalled a crackdown on hedge funds and other speculators that break the rules by short-selling Nothern Rock shares without ensuring that they have the stock to sell in the first place. The warning came as it emerged that, even if Northern Rock is rescued by an acquirer, the bank will still owe the Bank of England £5.9 billion by the end of 2010. The figure was disclosed in an internal memo, entitled Project Wing, sent to potential bidders ahead of a deadline for takeover proposals this Friday. The memo outlines the most likely options, including selling Rock’s assets and leaving existing shareholders invested in a company that held the multibillion-pound loan from the Bank of England. Northern Rock’s shares have been subject to intense short-selling and “naked” short-selling since the Newcastle-based bank nearly collapsed in September. Although the LSE yesterday stopped short of attacking the speculative investors, the exchange gave warning of the “significant number of unsettled shares” in Northern Rock and strongly urged investors to close their positions as quickly as possible. The Stock Exchange said: “What we are doing today is publicly saying that that number has to come down.” Its action comes after RAB Capital, the influential hedge fund and the largest shareholder in Northern Rock, berated regulators for failing to police the system properly. RAB Capital has acquired its Rock stake as a long-term investment. Short-sellers, typically hedge funds, borrow stock in the market and sell it, taking a bet the stock will fall so that they can buy the shares back and pocket the difference in price. Naked short-selling occurs when hedge funds sell shares without borrowing the stock in the first place. The problem has been exacerbated in Northern Rock’s case by the huge trading volumes in the bank’s shares in mid-September and the massive volumes on loan to short-sellers. Yesterday, 12.4 per cent of Northern Rock’s stock was on loan, indicating that it was being used by hedge funds to short the company. As much as 30 per cent of the bank’s shares were being shorted at the height of its troubles. According to Data Explorers, which monitors stock lending, the average FTSE company has 3.7 per cent of its stock on loan at any time. ragingbull.quote.com/mboard/boards.cgi?board=CMKI&read=623985
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Post by soonerlew on Nov 14, 2007 8:21:32 GMT -5
By: bobhwang 14 Nov 2007, 07:14 AM EST Msg. 623986 of 623990 Jump to msg. # so u think it's going to get better: So what in the hell is a CCO? It is explained that "The issuer sells protection on the underlying commodity portfolio to the swap counterparty under what is known as a 'trigger swap agreement.' To fund its obligations under the swap, the issuer sells notes in the amount of the protection sold, according to Fitch [Ratings]. Proceeds from the notes then serve as collateral for the issuer's exposure under the swap until it matures. At maturity, the issuer liquidates the remaining asset and returns the proceeds to noteholders." Hahahaha! Let me make sure I got this right: I create and sell some debt, and I use the money that I get from these idiot noteholders as collateral for the notes? Hahaha! Look at me! I am suddenly in the trigger swap business! I get to charge you a fee to float a dollar's worth of bonds backed up by a dollar's worth of your own money? Hahaha! And there are investors who will voluntarily do this? Hahahaha! What a racket! The article says that stupid people with too much money have not learned anything from the subprime mortgage mess, and "most likely the bulk of investors about to start buying CCOs have no idea quite what these products are, either. All they'll see, instead, is a steady stream of potential income. Provided, of course, that the CCOs pay out at maturity." Hahaha! Just like subprime! But like all scams like this, it works like a charm in the early stages, and "In other words, bond managers and fixed-income traders whacked by the collapse of mortgage-backed debt can now put commodities into their portfolios - and just in time, too, for the runaway inflation about to hit thanks to monetary oversupply and heavily geared financial buying." We never learn. I sigh. But we can make a lot of money on it, as this commodities bubble is in the early stages yet. But everybody else pays a huge, society-destroying price for such inflation. I sigh again. I weep. Ugh ragingbull.quote.com/mboard/boards.cgi?board=CMKI&read=623986
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Post by soonerlew on Nov 14, 2007 8:22:06 GMT -5
By: bobhwang 14 Nov 2007, 07:35 AM EST Msg. 623988 of 623991 Jump to msg. # fuzzie math man : President George W. Bush has in the past predicted that the US dollar will get stronger because the US economy is strong. He also has said that if people would look at the strength of our economy, they'd realize why the US dollar will be stronger. What he is not saying is that most of our GDP growth is nothing more then the growth of debt. The US financial structure is based on a fractional reserve credit creation system where, a savings deposit of $1 makes possible the creation of $45.00 worth of credit. Credit has become our monetary unit. We as a country and government are owned by the FED. Our so called elected officials can no longer identify the interests of the people. Until government officials can identify the interests of government with those of the people they govern and refrain from defrauding the people through currency depreciation or taxation, the people must learn to hold their savings in the form of precious metals ragingbull.quote.com/mboard/boards.cgi?board=CMKI&read=623988
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Post by soonerlew on Nov 14, 2007 8:30:07 GMT -5
sandi66 Global Moderator D.D. Specialist Blast from the Past - Casavant Maneuver « Thread Started on Today at 6:55am » -------------------------------------------------------------------------------- An outline of the Casavant Maneuver? ____________________ W H O is involved? ---Roger Glenn would say Urban's Union is a combination of friends, family, business associates and individual shareholders (includes UCAD, CIM, GEMM, ECPN, the JV's, etc.) ***I'd say it's Ed Dhonau, Rendal William, Rick Walker, Ron Casavant, BSIC, Rick Kusmirski, the Lundins and many other big money investors. ___________________ W H A T is it? ---Roger Glenn would probably say the Union is a multi-disciplined unofficial conglomerate built by using economies of scale and a unique blend of synergy. It is managed in a decentralized and horizontally integrated corporate structure that encourages and rewards entrepreneurship. ***I'd say it's a bunch of companies that manage themselves and help each other grow with Urban's assistance. ___________________ W H E R E is it happening? ---Roger Glenn would say we have strategic partnerships located throughout the world, with connections in the US, Canada, South America, Africa and China. ***I'd say we have a lot of deals all over the place. __________________ W H E N will it happen? ---Roger Glenn would say it's starts NOW ***I'd say 1989 to present ___________________ W H Y will it happen? ---Roger Glenn would say Urban wants to build and market the Casavant brand using a vertically integrated distribution strategy that takes control of the entire life cycle of a diamond. ---He'd also say UC wants to create a corporate tax strategy that will focus on the creation of living trusts for his heirs and allow a smooth transition to a professional management team (i.e., a new CEO, President, CFO, CTO, CIO, etc.). ---Roger would also state that Urban wants to leave the planet with the legacy of having helped the undercapitalized investor. ***I'd say Urban wants to help his family and the "little guy" by taking diamonds from the ground to the store shelf. __________________ In my opinion, what I have laid out above is the basic framework of Urban's plan. I don't admit to knowing all the intricacies of the plan, however, it no longer matters to me. I know what the puzzle will look like at the end (a lucrative tender offer after loads of cash and share dividends). Consequently, I really don't care about the order the individual pieces are put together in. All I know for sure is that we will all be very pleased with the end result of our holdings (i.e., diamonds, gold, silver, zinc, kimberlite fertilizer, potash, platinum and uranium). Sometimes you need to step back and look at the "Big Picture". Good Luck and it's all speculation by By: bill19336 10 Aug 2004, 06:58 PM EDT ragingbull.quote.com/mboard/boards.cgi?board=CLB01219&read=62305&submit=Go&endat=344553&numposts=60 camrhon.proboards102.com/index.cgi?board=safe&action=display&thread=1195041317
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Post by soonerlew on Nov 14, 2007 8:42:46 GMT -5
gurumaster Diamond Appraiser Etrade Bankruptcy coming part of the PLAM! Go CMKM « Thread Started on Yesterday at 12:57am » -------------------------------------------------------------------------------- Well looks like Maheu and Urban are finally gettin to use the Master Plam! Next Ameritrade! Next Jefferies Next Knight I didnt think a 105 year old man could do it! -------------------------------------------------------------------------------- www.bloomberg.com/apps/news?pid=20601087&sid=aG2e7v8GU3Y8&refer=homeNov. 12 (Bloomberg) -- E*Trade Financial Corp., the online brokerage that forecast a decline in fourth-quarter earnings, lost more than half its market value in New York trading after a Citigroup Inc. analyst said there's a chance the company may go bankrupt. E*Trade will have to book ``significant writedowns'' this quarter for asset-backed securities that sank in value last month, the New York-based brokerage said in a Nov. 9 regulatory filing. Citigroup analyst Prashant Bhatia wrote in a report yesterday that poor management has ``put the viability of the franchise at risk.'' Go you ol fard! Acca was right all along! Keep an eye for them checks to start flowing! cmkxunitedforum.proboards70.com/index.cgi?board=general&action=display&thread=1194933424
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Post by imSINGLEruRICH on Nov 14, 2007 9:42:01 GMT -5
By: bhollenegg 14 Nov 2007, 08:21 AM EST Msg. 623992 of 624024 Jump to msg. # Chrisl,
Thank you for the invitation to your Pal Talk room to discuss issues concerning the stock. I appreciate the constructive exchange of information and the hospitality from your members and the guests who attended the discussion. To the ones who participated in the discussion, your inputs contributed considerably towards understanding what is going on with the CMKM situation.
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Post by imSINGLEruRICH on Nov 14, 2007 9:44:27 GMT -5
By: oil.ipo 14 Nov 2007, 09:10 AM EST Msg. 624018 of 624025 (This msg. is a reply to 623738 by september_rain.) Jump to msg. #
CMKM represents the "WHOLE" card;
ACE OF $$$PADES
with all cheques pushed onto the layout, everyone's bluff is now called...
No more markers for market makers.
Level III just forced the final call.
Oil
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Post by imSINGLEruRICH on Nov 14, 2007 9:46:46 GMT -5
By: dennissullenger 14 Nov 2007, 09:19 AM EST Msg. 624022 of 624025 Jump to msg. # If ya think ya like level III, wait'll ya see level IV.... bwhahahah go cmkx em dennis
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Post by soonerlew on Nov 14, 2007 15:39:11 GMT -5
Thanks to bikinipro...............
pistos Diamond Finder ***
spiderman (paltalk), fwiw... « Thread Started on Today at 10:15am »
(9:55 AM) jacbert: (12:47 AM) spiderman1959: I've not been here in the room, but been still dd'ing on it still and have been shocked to find new entities of huge magnitude invovled in the tangle. We're good really good.
(9:55 AM) jacbert: (12:48 AM) spiderman1959: No kiddin' if you're in you.......GOT CMKX? You're a winner.
(9:56 AM) jacbert: (12:49 AM) spiderman1959: ADS is the word for today (12:49 AM) spiderman1959: UC and company has set it up so we can't loose.
---------------------------------------------------
thanks spiderman!
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Post by soonerlew on Nov 14, 2007 15:40:59 GMT -5
From millionaires...................
gusjarvis King of Diamonds *****
we need to start a classaction ourselves against the media and the sec and the rest if we don't see some action very soon
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Post by soonerlew on Nov 14, 2007 15:41:26 GMT -5
From millionaires.................... twinnster DIAMOND MINER ** Re: Gossip Discussion 11/14/07 « Reply #8 on Today at 12:03pm » Okay...I'll ask...spiderman said ADS is word for the day...what does ADS stand for? TIA tramp Administrator ***** first thing i thought of.. the stock symbol.. and look what they do and others.. finance.yahoo.com/q?s=ads
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Post by soonerlew on Nov 14, 2007 15:42:05 GMT -5
Thanks to mgl........................
By: oil.ipo 14 Nov 2007, 12:25 PM EST Msg. 624076 of 624077 Jump to msg. # Wodan; Go re-listen to your 8-15-07 Mp3. Come back after 11-21, and then bring down the room(s) IMHO. With all that is happening currently I do not see any clear cut date for CMKX shareholders, but I do believe that one is out there "in stone." Whether it is this month or after 12-05 we just won't know, but there is so much effort to communicate information by you that is gathered that you might as well connect that information with newsworthy events (rather than the times that you received such information) in some constructive manner. While, your information has not provided any timely connections through no fault of your own, nor has anyone else for that matter-it may have some value is its meaning. I appreciate the risks that you have taken, and continue to try and place some meaning to the message. It is better than the /// "other" misguided messengers IMHO. The risks may eventually meet with the rewards. Your credibility and integrity IMHO remain high for someone that few have met, only heard, and genuinely like for being a spokesperson of character in this uncomfortable circumstance for many.
Regards,
Mega/Oil
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Post by soonerlew on Nov 14, 2007 15:42:33 GMT -5
By: leowanta 14 Nov 2007, 01:01 PM EST Msg. 624082 of 624092 (This msg. is a reply to 618928 by leowanta.) Jump to msg. # RESTITUTION ON OR BEFORE DECEMBER 5, 2007!
ok....well, it looks like special counsel at the SEC says 35 days from October 15, 2007 for the close out....
but the PUBLISHED CFR says 35 consecutive "settlement" days...
"(v) If a participant of a registered clearing agency entitled to rely on the thirty-five consecutive settlement day close out requirement contained in paragraphs (b)(3)(i) or 50 (b)(3)(ii) of this section has a fail to deliver position at a registered clearing agency in the threshold security for thirty-five consecutive settlement days, the participant and any broker or dealer for which it clears transactions, including any market maker, that would otherwise be entitled to rely on the exception provided in paragraph (b)(2)(iii) of this section, may not accept a short sale order in the threshold security from another person, or effect a short sale in the threshold security for its own account, without borrowing the security or entering into a bona-fide arrangement to borrow the security, until the participant closes out the fail to deliver position by purchasing securities of like kind and quantity; * * * * * By the Commission. Nancy M. Morris Secretary Dated: August 7, 2007 51"
********
From SEC e-mail from special counsel....she specifically states
35 days...(from the e-mail below)
"If you have not done so already, you may want to look at this provision. As you will see, once the change takes effect, short positions previously protected by the grandfather clause must be closed out within 35 days."
35 days would be the 18th of November....
35 consecutive "settlement days" would be 35 consecutive BUSINESS DAYS.... excluding weekend and holidays (2) Veterans Day and Thanksgiving day....so starting from the 15th the 35th day is December 4th...making December 5th the day it has to be paid of like kind and quantity.....
TRAMP, YOU WERE RIGHT....i didn't read the CFR, i relied on special counsel to know the exact wording....
AGAIN, WE COULD GET RESTITUTION ANYTIME, BUT IT ABSOLUTELY HAS TO BE PAID ON OR BEFORE DECEMBER 5, 2007!
Leowanta
By: tramp1950 14 Nov 2007, 01:27 PM EST Msg. 624084 of 624092 (This msg. is a reply to 624082 by leowanta.) Jump to msg. # Leo..
i also am looking at this treaury announcement which may be a key for us to get paid and if you notice, we have different pr's on hold...USCN..FFGO..ENTGF...GBDX.. are they tied together?.. or just a coincidence?
there is also in there a calendar day provison for those who can claim ownership.. ownership==certs.. which put that date to...nov 19..monday.. so, yes, it can come anytime and i still like acca's date of nov 18, we would have a reason to party..
and nov 19, monday, to me looks good..
peace..
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Post by soonerlew on Nov 14, 2007 15:43:07 GMT -5
By: 4CHUN_PCKR 14 Nov 2007, 11:37 AM EST Msg. 624060 of 624060 Jump to msg. # Bernanke Lifting Curtains at Fed Wednesday November 14, 10:25 am ET By Jeannine Aversa, AP Economics Writer Fed Chairman Moves to Open Fed Business More to Public Scrutiny
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke moved Wednesday to break down even further the aura of secrecy that historically has enshrouded the institution that sets interest rates, taking steps to keep Main Street and Wall Street more closely wired to decisions that can make or break lives and businesses.�
joesixpack posted this on millionaires in the discussion column.........................
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Post by soonerlew on Nov 14, 2007 15:43:33 GMT -5
nancyhfrga DIAMOND MINER Re: Gossip Discussion 11/14/07 « Reply #18 on Today at 12:25pm » -------------------------------------------------------------------------------- ADS is also an Australian television company (an equivalent to our ABC) and part of the Australian Ten network. Who runs this? James Packer, one of the most wealthy in the world. Packer & Chinese gambling family heir, Lawrence Ho, have formed a casino gaming, entertainment and resort company, Melco PBL (MPEL). It was not financed by banks, but rather by using American Depository Receipts (ADRs) to build their new casino in Macau's City of Dreams. It was a big achievement as Mr. Packer was approved by the Chinese. Shorters (hedge funds) jumped all over it and drove the IPO down significantly which is also publicly traded, enough to attract lawyers and class action lawsuits. Another Ho family heir & Wynn are presently under review to procure a new casino licensing status for Vegas, I believe. The stock was trading and naked shorted, on the threshold list, until last week. That is the only ADS with which I am familiar, and am not aware of this being the same one as mentioned. By the way, a lot of companies are going the route of using depository receipts rather than become indebted with bank sponsors (Citi, GS, Barclays, etc...). Lundin uses Swedish depository receipts, for instance. They run in units or warrants, and are associated with buying and selling but not shorting. Some offer foundations and benefits to their loyal shareholders and tend to keep the riff-raff from running rough shod over their business plans. « Last Edit: Today at 12:43pm by nancyhfrga » millionaires.proboards86.com/index.cgi?board=main&action=display&thread=1195038986
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