A Question and Answer Session about CMKX and Stock Market Fraud
Location: Blogs Mark Faulk's Blog
Posted by: mfaulk 9/15/2006 4:06 AM
These questions were submitted to me by the CMKX Shareholders' Coalition for Market Reform, in reference to my upcoming book entitled "The Naked Truth: Counterfeiting the American Dream." An up date on the current status of the book can be found at faulkingtruth.com
1. Many have become accustomed to your thoughts as presented through your weekly exchanges on the Christian Financial Radio Network (CFRN). As regular listeners, we have noticed that, while you have gained incredible support, it also appears like there is some opposition towards the proactive approach that you have advocated (in regards to Naked Short Selling/ Market Manipulation). Why do you think this is the case? Even though we (the CMKX Shareholders Coalition) have come to accept the systemic nature of this problem, how does this noticeable opposition apply specifically to CMKX, their shareholders, and their current situation?
Good question. First of all, it’s always easier to just complain than it is to do something about the problem. That’s not directed at CMKX shareholders, but it seems to be true in general. Secondly, deciding to do something means acknowledging that there is a problem, and many shareholders aren’t ready to do that. Blind faith will only get you so far…and usually in the wrong direction.
2. With the much-awaited release of your upcoming book, The Naked Truth: Counterfeiting the American Dream, many have found the cover to be rather appealing. In its simplicity, with a large diamond appearing on the front, was there one person who was responsible for assembling this cover? Did you come up with the concept yourself?
It was conceptualized by a CMKX shareholder, you’d have to ask John Martin which one. I took one look and loved it. We’ll still probably add a bit of text to the front as a teaser telling what the book’s about.
3. While we understand that this story has yet to be completed in its entirety, approximately how many pages will the book include?
It’s 260 pages right now and counting, so it could be anywhere from 300 to 350, I really don’t even know yet. It really depends on how involved the ending turns out to be. Plus, there will be about 30 pages of appendix, with some of the most interesting documents added, and the rest on an accompanying website.
4. We are aware that it will be available on Overstock.com, upon its release. Are there any other venues where The Naked Truth will be released/ available for purchase?
It will be available on all major book websites, including Amazon.com, Barnesandnoble.com, Borders.com, etc. I’m not certain about in-store sales, but I’m hoping it will be in at the very least the major chains. That part of the marketing will be kicked off in full force once it’s sent to the printers.
5. Since it appears like you have become almost as attached to the phenomena surrounding CMKX as many CMKX Shareholders themselves, are there any regrets that you have in regards to your involvement in such a large-scale, and somewhat mysterious, situation?
Honestly? It is MUCH more involved and time-consuming that I ever imagined, but like everything in my life, one thing leads to the next, so I think it’s safe to say that without this opportunity, I would have missed out on many other opportunities that have grown out of this experience. Plus…you can’t help but love the shareholders. So, no regrets, other than not giving myself enough time on my original completion date, and not asking for a bigger advance, lol. (More on “other opportunities” at a later date.)
6. Summarized in a few sentences (or less), at this point in time, is there ONE specific message that you would like to convey to all CMKX Shareholders worldwide? Bear in mind, it is our hope that this message will be conveyed to as many of our 39,000+ global CMKX shareholder base, as possible.
Everything happens for a reason. That’s really it. Regardless of the outcome of this saga, everyone needs to learn from it, and use those lessons to make positive changes in your lives, and hopefully, in the world around you as well. Sometimes, the reasons aren’t revealed until later, and more often than not, it’s not what you expected. Take something good from it no matter what happens. And never forget: there are things in life that are more important than money.
7. While we are aware of your involvement/opinion, in regards to CMKX, through your appearances on the radio and pursuit of a massive project like The Naked Truth, have you personally met anyone who you would consider is a key player in the continual fight against Naked Short Selling/Market Manipulation? If so, what messages did they/have they conveyed that would add only increased legitimacy towards the existence of a problem of this scale?
Most of the key players you already know. Dave Patch is the one who deserves a lot of the credit for bringing the focus on stock market fraud to the public eye, through his sheer determination. Patrick Byrne gave us visibility, and of course Bob O’Brien, Bud Burrell, Rod Young, DeWayne Reeves, Darren Saunders, recent support from Elizabeth Moyer, and one who I will really miss…Gayle Essary. There are a lot of people behind the scenes that few people even know about. And in this specific case, I think a lot of shareholders underestimate the contributions of John Martin, Kevin West, and Bill Frizzell. As diverse as these people are, the traits they all share are simple: they are motivated to do the right thing, and they never give up. Integrity and determination go a long way. That’s all that really matters in the end.
8. What details surrounding CMKXs current situation, do you believe, should provide ample evidence to incite a spirit of proactiveness (in regards to NSS) amongst all CMKX shareholders worldwide?
I’d like to make a point here. This ISN’T just about naked short selling, it’s about rampant fraud on a system-wide level. The recent tactics by the SEC to define failed deliveries by the brokers as LONG FAILS instead of SHORT FAILS is nothing more than (yet another) con job perpetrated on the American people.
As far as CMKX goes, it really isn’t just a matter of stock counterfeiting (or failed deliveries), it’s an example of a massive breakdown of the entire financial system on every imaginable level. Safeguards that should have been in place weren’t, and the rules that are there were blatantly ignored…and not enforced. The problem is much more complex than we ever thought, the corruption runs deeper and in more directions that we could have imagined. That’s the real lesson here…project THAT across the entire financial system, and it should make every person in America angry enough to march on Washington and demand change NOW…before it’s too late.
In your opinion, why do you believe that some shareholders are against remaining continually proactive?
Let’s instead discuss why they SHOULD do something proactive. Doing something positive or proactive can only help to bring about changes faster. Does anyone really believe that the brokers, the SEC, or anyone else involved, will willingly clean up their own mess, and acknowledge their own crimes, that they will suddenly gain a conscience, and do the right thing? They only respond to pressure, to having a glaring light constantly illuminating their crimes. Only then will they eventually be forced to do what’s right. If you do nothing, you have no right to expect anything in return. Doing nothing is the same thing as “just going away.”
Finally, if it were me? I’d set a deadline, demand some answers, and if the company didn’t deliver…I’d band together, find a hotshot law firm, and throw a net over the whole bunch of them. Anyone from the company who might remotely be involved, the DTC, the NASD, market makers, transfer agents, others who were in on it (and there are others), and most importantly, the brokers and the SEC. Then, let everyone under the net argue and point fingers at each other for a while, and before long, the truth WILL come out. Some will be exonerated, some will turn on others, but all will have to answer the damn questions, to tell the truth. I personally believe that’s what these shareholders want: just be honest (for once), and tell the damn truth. NOT ONE PERSON HAS BEEN CHARGED IN THIS, NOT ONE BROKER HES BEEN EVEN FORCED TO OPEN THEIR BOOKS. These brokers have deep pockets, I’d have my hands in them right now…they’ve certainly had their hands in everyone else’s pockets for long enough. That in itself is criminal. Justice has to be served, those who did this need to be held accountable for their actions.
If you are a CMKX shareholder, go to petitiononline.com and sign the petition calling for an investigation into stock market fraud, and specifically CMKX.
Mark Faulk is the Editor of The Faulking Truth, and the author of the upcoming book entitled "The Naked Truth: Counterfeiting the American Dream," due out in late 2006 (yeah, the date keeps changing....we're waiting for SOMETHING definite to happen with the company). For more information on the book and on the stock market scandal, go to faulkingtruth.com, and to pre-order your copy, go to theownersgroupinc.com
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