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Current topic: BCIT and the crime of the century!

 

What is naked short selling: 
It is selling stock in a public company that you do not own and you never deliver to the buyer. Honest people call this stealing. This is done daily by many big banks for themselves and/or their customers. 

How can this happen in today's environment? 
30 years ago stock physically changed hands in person between a buyer and a seller on Wall Street. Today, it is done electronically. In many cases, the stock is sold electronically but never delivered. In essence, our system has trillions of dollars of stock IOU's that will never be collected. 

What is the scope of the problem? 
It is the belief of many experts and others that trillions of dollars have been stolen from hard working Americans by selling them counterfeit stock that does not exist. This unscrupulous conduct still exists today. 

What are the consequences to average Americans of naked short selling? 
Naked short selling: a) steals money from hard working Americans by selling them counterfeit stock; b) destroys good public companies that have products that can make all American lives better; c) has destroyed millions of jobs by destroying these same companies whose stock is being manipulated. 

Naked short selling has led to turmoil and unnecessary volatility in our markets worldwide by creating counterfeit shares which have destroyed companies and left wrecked lives in its wake. Big banks and their clients have been incentivized to kill companies rather than build them up as a surer way to profit but these actions also have led to massive disorder in exchanges around the world, threatening our entire financial system. 


http://thewallstreetconspiracy.com

http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html

 

BCIT - Naked Short Poster Child

 

BCIT is one of those cases where a large naked short position is locked up by the DTC. I have heard from a reliable source that Scottrade alone has a short position of 68M shares. The total short is around 750M or higher. If alowed to trade, and if the pps rises, the liability held by the brokers or their clients could be massive. Not hard to figure out why the DTC is not inclined to allow this to trade. What usually happens in a case like this is the CEO walks away, or makes enough shares available to cover the short position. ot so with BCIT. BTW, the share structure was 4M OS with 400K in the float at the time. If allowed to trade, it could be the MOASS everyone talks about but never sees.

 

Following the discovery that the DTCC apparently had allowed unauthorised shares to enter the trading system, the DTCC imposed a global lock on 16th August 2005 effective as of the 11th August 2005. Even with Energy Source ex BCIT co-operating fully with the DTCC and SEC, the DTC lock remains in force to this day. The Depository Trust Clearing Corporation's Global Lock only affects the services rendered by the DTC. This often greatly influences the trading activity on a locked position as the majority of trade settlement and clearing activity is done through the DTC. Despite the lock, almost every brokerage continued to trade Energy Source ex BCIT securities without DTCC involvement. In February 2011, Mr. Thomas Megas, CEO of Energy Source ex BCIT, requested a UK firm of legal and law enforcement consultants, Carlton Huxley, to carry out a review of the case.   Their immediate course of action was to establish how many, if any, unauthorised shares remained in the public domain. Carlton Huxley have contacted the DTCC and all the major brokerage houses who traded these securities to establish whether they hold unauthorised shares.  To date, none of these institutions has indicated that they have any certificates, let alone unauthorised ones. Similarly, none of the shareholders contacted by Carlton Huxley has any certificates either.

In the absence of any evidence to the contrary, there are reasonable grounds to believe that there are no unauthorised certificates in the public domain other than maybe with the DTCC.   In view of this, The Company calls on the DTCC to immediately lift the global lock on Energy Source ex BCIT securities. There are very few people including brokers who actually possesses physical certificates. However as a safeguard The Company advises that anyone in possession of an Energy Source/BCIT share certificate should contact the company or its legal consultants to obtain authentication. Energy Source ex BCIT Shareholders are advised to immediately request their share certificates from their brokers.    Shareholders who require assistance and wish to consult with Carlton Huxley should use the following dedicated email address: es@carltonhuxley.com It is estimated that brokers sold about 1 billion shares since the lock and thus should be in possession of securities in physical form and should settle directly with their clients.

http://www.energy-source-inc.com/

More info on BCIT here

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