No Own - No Sell

[Bird of Prey]

This from "lion" a signer of the petition.

On or before 9/25, Native Nations brokerage sold Genesis short $60 million backed by stock "borrowed" from MJK Clearing - when Genesis (controlled by the Arab arms dealer Kashoggi)halted trading on its stock on 9/25, its useful value to Native Nations for its net capitalization went to zero, putting Native Nations out of business since it could't do the payback to MJK Clearing. Consequently, MJK shut down, taking down all of the brokerage firms they clear for, freezing the assets of 200,000 accounts around the country. Eventually, like the S&L debacle, people will get their money after the government (us taxpayers) step in to fix it. IF NATIVE NATIONS COULD NOT SELL SHORT ON "BORROWED" STOCK THIS WOULDN'T HAVE HAPPENED- The traders at Native Nations would have cut a fat hog on the deal if Genesis had continued to trade- but SOMEBODY made $60 million while Native Nations/ MJK lost it- This abuse only comes to surface when occasionally something inadvertently or DELIBERATELY goes wrong.


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I have been aware of this from the beginning but have refrained from mentioning it specifically. I make no comment of the 'rightness' or 'wrongness' of the prospects for GENI. Only on the mechanics of how shorting worked to create a very bad situation.

Thanks go out to some of the newsletter folks I see joining our petition. I look forward to it's inclusion in your next issue.

Remember folks, this petition runs until the end of October...the only reason we would cut it short would be if we had already reached a large enough signature base to get Washington's attention.

We can make a difference.


The Bird of Prey