Replies to post #242810 on CMKM Diamonds Inc. (fka CMKX)

[Investorman]

Kevin had better watch out. A lesson in logic from ABAD......

By: abadgoodgirl
15 Dec 2007, 04:44 PM EST
Msg. 633269 of 633290
(This msg. is a reply to 633263 by mclt_jing.)
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focusing on the likes of Walters, who were caught short selling, not counterfeiting is a waste of time.

The big fish here is the Clearing and Settlement systems, especially the NSCC and DTC which are wholly owned by the DTCC which are owned by the financial services industry & Federal Reserve.

There is your whale.

Those who perpetuated it against the law are the SEC. The SEC is in extreme violation of 1976 Securities Processing Laws.

The SEC has oversight of all clearing and settlement systems, both public and private.

The Federal Reserve handles the book-entry transfer of securities as directed by the depository institutions who hold master accounts.

These institutions had unlimited overdrafts at the Federal Reserve Bank, the central bank and were encouraged to facilitate the lending/borrowing of securities and all limits to doing so should be removed. (per the Federal Reserve's Policy).

Many times, the asset used as collateral was a claim on the Central Bank.

Who cares if Gary Walters was in a closet short selling securities through the national market system? The NSCC is responsible for delivery.

The NSCC is responsible for delivery if the sales cleared thru the NSCC. The NSCC guarantees delivery....buyer of all sellers and seller of all buyers.

---From outward appearance, Tyler is guilty of driving the NSS getaway car, covering up a massive financial crime considered financial terrorism and KW is guilty of perjury and working against what is in the best interests of the stockholders.