Sunday, October 15, 2017 7:39:43 AM
Say I hold 1,000,000 shares of NWBO in my Schwab clearing house account.
Say there are 1,000,000 shares called "naked shorts" or what I call, "fake shares".
Say great news comes out or something and everyone wants, me included, to sell our shares and make a good profit.
Could my Schwab people say, "Reg, we don't have those real shares for sale. Sorry. We owe you what your thought you brought from us, because that is what is on our books for you, but we can't sell shares we really don't have, so you will only get us someday what you paid for the 1,000,000 shares, not what you want to sell them for today."
Should I try and get the transfere agent to send me a real certificate for my shares, or trust that when the final accounting comes, the "naked share people" will actually try and buy the "fake" shares to give back to me what I thought I owned in the first place? See, I am worried that the sellers of the "fake" shares will just disappear and will never try and cover their "naked shorts" leaving me "high and dry" without any shares I thought I had brought through Schwab and actually owned.
If anyone could comment on this over this weekend, I'd sleep better as I do believe the day of accounting is coming and the "naked shorts" will have to find real shares to cover people like me who "believe" we are buying real shares and holding them in our brokerage accounts.
What say ye? Go NWBO. Go search for a cure. Blessings to all. REG
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