|The Tom Bearden
Dear Mr. Booth:
We're very pleased that you are interested in the MEG, and we sincerely appreciate the inquiry and request.
Unfortunately the final development of the MEG is "on hold" until we obtain the necessary financing to complete it. We have a signed contract on doing it, with the Principal being an international engineer performing large projects worldwide under UN auspices. He is an excellent man who has completed many such projects worldwide, and who already has a contract with the UN for some new large projects under UN auspices, of which the MEG is a small portion. Receipt of our MEG funds are thus dependent upon the Principal receiving his contracted funds from the UN.
Until the United Nations releases the funds to the Principal, we are "on hold".
Unfortunately, a great deal of the funds that the various nations of the world supply to the United Nations to help needy nations and peoples in various places of the world seems to be subjected to an operation known as "sweeping the cash". In such an operation, the UN funds are "released" into a separate private bank somewhere in the world, where the chosen private group that owns the bank then holds the funds while freely acquiring the interest on them.
For a reputable article on "sweeping the cash", see "How Wall Street 'Sweeps' the Cash: Investors' Idle Money Is a Brokerage-Firm Bonanza," Wall Street Journal, Jan. 11, 2007.
We are hoping that release of the funds to our Principal partner occurs soon, as we are unable to move forward until that time.