Absolute Proof
The stock market is rigged and rigged every day. The culprit: naked short selling in which stock is never delivered and in fact never existed. Obama is not just incompetent, he is a Chicago style crook who has simply put all the criminals from the last years of Bush in charge of the markets. If you invest now or are considering an investment in the future, you better listen to this thirty minute expose' from Bloomberg of what is going on. I'd say it was shocking, but it ain't. In far too many instances actual real live criminals are in charge and are in the brokerage firms and hedge funds running the markets. This is criminal activity. Obama has appointed another slug as head of the SEC, and as I reported here once before, I had a run in with her when she ran the CFTC when I found her to be an insufferably arrogant self styled intellectual who was simply not interested in what she was not interested in. The situation under her command is exactly like the Mel Brooks movie, The Producers, where Bloom (Gene Wilder) and Bialistok (Zero Mostel) sell 25,000 percent of their play and then doing everything possible to make the play fail so they can stick a half a million in investor cash into their pockets. In other words the two of them engaged in naked shorting of stock that did not exist. Read it and then tell me Obama isn't just a hack........
original link from Big Picture
1 comment:
As far as the impact on the market value of a stock, a short sale of a million shares "naked" is no different from the sale of a million shares regular way.
The impact of a person buying 10,000 deep in the money puts is not far from the impact of a naked short sale of a million shares.
The impact of a sale of 10,000 deep in the money calls is not too much different from the impact of a naked short sale of a million shares.
So if you want to ban "naked short sales", logic requires that you ban all four types of getting short and also ban selling single stock futures and stock swaps.
But that won't happen as there is too much money to the operators of those casinos as stake.
The answer to the issue is to restrict the open interest of a person or an allied group perhaps to a maximum of 10,000 shares(or equivalent share position) and most of the manipulation goes away.
The emphasis on "naked short sales" is a knowing misdirection of heat from the real culprit banks and FED Reserve criminals who pulled off the Bear Stearns and Lehman collapses. The short selling and the buying of puts was nothing more than inside trading by a lot of tipees who stole millions trading on inside information. The fails to deliver that show up are a result of early exercises by options market makers of puts after the stock has collapsed and are not a result of short sales in the market.
I am more informed on the issues than anyone and so now you know the scam.
John Olagues
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