Dr. Jim DeCosta: In the case of BCIT, it seems to be that there are two sets of books.
One set of books is kept by the corporation BCIT and the other by DTCC.
BCIT’s books show how many shares have been officially and legally issued, and DTCC’s books can show us how many shares of BCIT have been sold.
When it comes to brokerage statements that us common people receive monthly, there seems to be something similar once again to the existence of two sets of books.
Our brokerage statements say we hold stocks xyz long, yet it is very possible that the DTCC has a second set of books that show xyz shares are merely an electronic marker, a “securities entitlements” that has NOT been delivered, and does NOT exist in the corporation’s books of legally issued shares.
Because the DTCC hides its second set of books showing how many shares of stock for each corporation have been SOLD, corporations are being lied to and we the common people are being lied to.
The whole system is corrupted, and the SEC has become the protector of the this corrupt system.
...for goodness sake lets have some fun watching these people squirm. - CH
