Ponder this:
- 300M+ NS shares via DTC clearing...but another 300M+ NS post freeze. These ex-clearing transactions are transparent, so we can't see them, and the SROs and SEC can't see them. They are securities arrangements between brokers that allow naked short positions to exist forever. These are things your broker will never talk to you about, and my broker did all they could to obfuscate these facts. You see, the pure beauty of ex-clearing is that one of the counter parties must have physical certs. Ex-clearing means exactly what it says...outside electronic clearing services. Now the securities contracts are legally binding, and it is assumed that all pertinent SEA and FINRA rules are observed within that contract, but the reality is, none of them are actually backed by certificates, and that can now be proven. These contracts also represent a contingent liability for one of the parties. As BCIT value increases, the contract will break, and one counter party will force a buy in on the other. It will be very interesting to watch, no matter what.
...for goodness sake lets have some fun watching these people squirm. - CH
