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Last Post: 7/6/2016 5:32:38 PM - Followers: 21 - Board type: Premium - Posts Today: 0

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.


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: 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.

More info on BCIT here

#714  Sticky Note Court Compells TDAmeritrade to Deliver Share Certificates for mastaflash 04/17/13 06:20:47 PM
#709  Sticky Note FINRA Arbitration Victory: mastaflash 01/10/13 12:12:01 PM
#688  Sticky Note BCIT Simplified: mastaflash 10/16/12 01:13:38 PM
#725   Totally agree. Clear sailing. weebie 02/17/14 10:50:09 AM
#724   Nice to see Megas cut all ties to Sytner. mastaflash 12/26/13 02:08:17 PM
#723   Remember a while back it felt to me mastaflash 06/21/13 04:14:23 PM
#722   So it is UBS that naked shorted BCIT mastaflash 06/18/13 12:04:31 PM
#721 mastaflash 06/17/13 11:50:04 AM
#720   I've said it before, and now I'll say mastaflash 05/29/13 03:52:26 PM
#719   Looks to me like CG can now go mastaflash 05/28/13 02:40:44 PM
#718   CG case Finra Award/Order: mastaflash 05/28/13 02:37:14 PM
#717   Interesting documentary. Just substitute BCIT whenever gold is mentioned: mastaflash 05/16/13 01:00:18 PM
#716   Rule 15c3-3 requires that "a broker or dealer mastaflash 04/17/13 06:45:01 PM
#715   Things are truly becoming unraveled for TDA now. mastaflash 04/17/13 06:30:07 PM
#714   Court Compells TDAmeritrade to Deliver Share Certificates for mastaflash 04/17/13 06:20:47 PM
#713   Curious deletion from BCIT board. Seems harmless. mastaflash 04/10/13 01:01:33 PM
#712   I have come to believe that most trades mastaflash 01/10/13 02:22:24 PM
#711   In Aug 2005, I bought into a potential mastaflash 01/10/13 12:17:06 PM
#710   This victory creates a huge precedent, and I mastaflash 01/10/13 12:15:19 PM
#709   FINRA Arbitration Victory: mastaflash 01/10/13 12:12:01 PM
#708   A good investment tip here: mastaflash 01/09/13 02:29:26 PM
#707 mastaflash 01/07/13 12:05:19 PM
#706   More DeCosta: The development stage yet to be mastaflash 12/03/12 03:45:13 PM
#705   Dr. Jim DeCosta: In the case of BCIT, mastaflash 12/03/12 03:38:47 PM
#704   Some DeCosta comments on BCIT situation I had mastaflash 12/03/12 03:35:52 PM
#703   “What happens if a long investor unknowingly mastaflash 12/03/12 03:30:05 PM
#702   KEY CONCEPTS IN REGARDS TO ABUSIVE NAKED SHORT mastaflash 12/03/12 03:29:21 PM
#701   Ponder this: mastaflash 12/02/12 04:09:11 PM
#700   Summary: Shareholders of record are to include beneficial mastaflash 11/28/12 03:36:11 PM
#699   From the discussion: mastaflash 11/28/12 12:54:50 PM
#698   I stand corrected: Rule 12g5-1(b)(3): mastaflash 11/28/12 12:34:05 PM
#697   A very good discussion of the held of mastaflash 11/28/12 12:15:56 PM
#696   Determining Shareholders of Record mastaflash 11/26/12 03:30:43 PM
#695   Grey area with regards to SH of Record mastaflash 11/23/12 04:26:13 PM
#694   BCIT was never required to be fully reporting, mastaflash 11/23/12 03:50:28 PM
#693   At the time of the revocation, BCIT was mastaflash 11/23/12 03:21:54 PM
#692   Discussion of rules regarding registration requirements: mastaflash 11/22/12 03:42:28 PM
#691   Some parralles here to the BCIT situation: mastaflash 11/07/12 07:21:35 PM
#690   Counterfeiting Stock 2.0 mastaflash 11/07/12 04:49:00 PM
#689   DTCC stock position reports for BCIT are an mastaflash 10/18/12 02:35:14 PM
#688   BCIT Simplified: mastaflash 10/16/12 01:13:38 PM
#687   What is naked short selling: mastaflash 10/14/12 11:40:31 PM
#686   Another catch 22... mastaflash 10/14/12 07:27:24 PM
#685   BCIT: "Bancorp International Group is a Nevada registered mastaflash 10/12/12 03:47:38 PM
#684   My brokers Catch #22: TWD has said to mastaflash 10/12/12 02:43:03 PM
#683   Transgression #1: SEA34 Section 6(b)(5) Statute limits the mastaflash 10/12/12 01:18:05 PM
#682   Like I said, it sounds like an illegal mastaflash 10/10/12 02:40:35 PM
#681   'A "Locate" of a security that might be mastaflash 10/10/12 02:39:11 PM
#680 mastaflash 10/10/12 12:22:01 PM
#679   Section 6(b)(5): The rules of the exchange are mastaflash 10/09/12 12:46:59 PM
#678   Decision not expected before next spring. mastaflash 10/05/12 07:08:16 PM
#677   Confirmed Sarei vs Rio Tinto case is in mastaflash 10/05/12 06:46:47 PM
#676 mastaflash 10/05/12 12:25:30 PM