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Re: Chiugray post# 564770

Saturday, 02/04/2023 11:47:53 AM

Saturday, February 04, 2023 11:47:53 AM

Post# of 700459
Chiugray,
Appreciate your information. However I don't quite understand the following:

It is on this back end, at the DTCC Warehouse, that the alleged naked short shares are made available. In the warehouse, all sales and purchases should settle and net out to zero. But because the Broker-Dealer/MM/DTCC are primarily all one-and-the same entities and because lending shares can make up maybe half of their revenues (recall reading somewhere), then the DTCC would allegedly lend these digital shares, that don't exist, to generate this major lending revenue. The DTCC warehouse and accounting is a black box that allows them to operate as such.


The DTCC's job is to make sure the transaction is legit, just like title company. Now if they purposely allow the phantom shares into the transaction, this is a direct violation of their job duty. Can't imaging they are doing that and this will also greatly mess up their system because now it will not be net zero anymore.
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