Great Post Cy
Well, IF there is any consolation to any of this, it would have to be that the SEC is likely being riddled with hundreds if not thousands of OTC investor complaints, AND there are also likely one or more Class Action Lawsuits coming against them for allowing it, which makes them complicit in this matter.
I am aware of one instance where an OTC Investor complained directly to President Biden with a copy of the SEC complaint they filed asking Biden to forward this matter to Congress for Investigation. My understanding is that was around the middle of April. Very interestingly, I recently discovered that the Head of the SEC is appointed by the President, therefore Biden is their BOSS!
In light of this, I recently did a Web Search on the role of the SEC and here's what I found on their Youtube SEC Manpower Recruiting video ad. I viewed the entire video and here are the Ten Point "take away's" that were specifically stated regarding The "SEC Mission."
1). To Protect Investors and ensure the integrity of the Markets
2). To deal with dishonest individuals
3).To protect the little guy
4).To create fairness for everyone
5). To stop groups of people from stealing from the rest
6). Our clients are the average American investors who need our protection
7). Rule Making, Defending Ethics, Combating Fraud; Protecting Investors, and Stabilizing the Market
8). Our Mission above all is to maintain Fair Markets for ALL individuals
9). The contribution we make is extremely important and valuable because we recognize that lives and futures are impacted by our decisions in how we approach our Mission.
10).The primary purpose of the SEC is regulating securities markets, protecting investors, and enforcing the Law against market manipulation.
Well, based on their clearly stated Mission, they have failed miserably to uphold ANY of these self-proclaimed obligations to investors which includes OTC Market Investors.
So IMO hopefully all the above combined might result in some traction in getting the SEC Officials to call off Naked Short Sellers since this represents counterfeiting which of course is a crime, AND it's breathtakingly contradictory to their Rules, Policies, and Regulations.
In view of this, I can't imagine for a moment that there's no accountability anywhere to be seen at any level of their organization for how they enforce their rules, because if not, they themselves are criminals by passively aiding & abetting criminal activity within their organization, which if this is the case, Congress needs to step in for a thorough investigation and that call has likely already reached Biden.
If this happens, we might see an easing effect and with the OTC returning to "normal" as before, but this may take several months to occur. My estimate is it won't be until the mid-to-late fall, Oct onward.
We will see, but the good news is the economy is picking back up, which means jobs returning, people going back to work, more people with disposable income to invest as before, businesses re-opening, major stimulus nationally is in effect raising market sentiment, housing market is definitely UP, etc...
So IMO this all bodes well for all Markets, including the OTC stabilizing.
On another note, what the Naked Short Selling MMs, Hedge Funds, DTCC, etc have been doing to the OTC is NOT sustainable long term anyway as it represents crippling the market NOT being able to fulfill their primary obligation which is to "Make A Market" and if they prolong withholding their obligation to do so, a very large percentage of OTC Investors will likely bail out the OTC altogether, making a massive exodus which wouldn't bode well for them, again long term!
So my final take is this insanity is going to be short lived. That's my prophetic view! Would like to get yours as well!
What we have been seeing actually is the crippling effect this has had on the OTC, it's very clear and obvious and I believe their days are number and it will soon either end or dramatically ease up.
Your thoughts and feedback on all of this would be greatly appreciated!
Thanks
Be well and prosper...
