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Patrick Byrne has an interesting tale to tell about naked short selling and collusion with named tv personalities on financial networks. He was the CEO of Overstock. He has quite the memory.
 
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Patrick Byrne has an interesting tale to tell about naked short selling and collusion with named tv personalities on financial networks. He was the CEO of Overstock. He has quite the memory.
They just won their case. the hedge funds sued them for giving out a bitcoin for a dividend (which screws the hedge funds) and their case just settled in the last few weeks. Opens up the option for other companies to screw the naked shorters that way.

Side note. Reverse repo today is $ 1.3 trillion. How much trouble are we in that the banks need to cook their books by 1.3 trillion every day to keep them solvent. Its going up like $100 billion a day. Money printer goes brrrrr

 
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So the Fed officials who sold all their stock for "ethic reasons" also both "retire" after months of printing money to boost the value of the stocks they owned?


you know what happens when the rats leave the ship.

Oh, and Reverse repo new high score. $1.4 trillion per day letting the banks continue to cook their books.
 
Reverse repos at $1.6 trillion today. How high can it go?

Evergrande not paying it's foreign bond interest payments
Fed presidents retire immediately on the date they would sell all their stock after propping up the market for months for "ethics"
Yellen talking about the over over leveraged hedge funds
Are we going to get a kick the can debt limit adjustment or are we going to default?
Citadel and Robinhood getting caught manipulating the market, turning off the buy buttons and then quadrupling down on shorts
Citadel freaking out on twiitter after 9 months of silence.
Dr Burry getting subpoena'd (the "Big Short" Dr Burry) after tweeting about how 2008 is going to look like a joke soon

May be nothing or may be a "correction" coming that will make TP shortage days look like a walk in the park.
 
Reverse repos at $1.6 trillion today. How high can it go?

Dr Burry getting subpoena'd (the "Big Short" Dr Burry) after tweeting about how 2008 is going to look like a joke soon

May be nothing or may be a "correction" coming that will make TP shortage days look like a walk in the park.

Burry got extremely lucky. He burned almost every single dollar he and his investors had before he luckily hit the jackpot. Citidel and Robinhood executives should be hung. As for the celing/limit/budget we will once again kick the can down the road and the cliff will get steeper and taller. When it happens ya better hold on gonna be ugly, really ugly imo.
 
Burry got extremely lucky. He burned almost every single dollar he and his investors had before he luckily hit the jackpot. Citidel and Robinhood executives should be hung. As for the celing/limit/budget we will once again kick the can down the road and the cliff will get steeper and taller. When it happens ya better hold on gonna be ugly, really ugly imo.
Weird that Ken Griffin (owns Citadel) left the country yesterday and his plane is somewhere in Spain. It was last seen descending no where near an airport. Probably has a Bond-villain base nearby.

 
You definitely must choose your brokers carefully.

we all know that robinhood turned off the buy button along with 20 or so other brokers for gamestop back in January during their short squeeze. Citadel threatened to turn off their PFOF which is how all these brokers make money off "free" trade. If they did not turn off the buy buttons it would have bankrupted all of them. Citadel is throwing everyone of these guys under the bus the last few days on twitter with tweets that would make any lawyer poop their pants.

we've all learned that when you go to Robinhood, or E-trade of one of these other brokers and buy a stock you are not really buying a stock. You are giving them money, they give you an IOU for one stock and if you sell in the future they give you money by taking it from others (ponzi scheme). There is probably a very good chance the broker never actually bought the stock for you. Your name is never registered under the owner of the stock at any point.

So the people who still own gamestop stock decided to all register their stock under they own personal names at Computershare. (direct share registration). Old fashion "directly own the stock" kind of place.

All these brokers are suppose to transfer the shares to computershare when requested. The problem for the brokers is since they probably never actually bought the stock with your money they now have to go buy the actual stock and transfer it to computershare to be put in your name.

Now the poop hits the fan. Enough people have asked (hundreds of thousands or more) that TD Ameritrade and E trade and others are starting to report month long delays to do a transfer. Now fidelity can do it in 2 days. FINRA requires it to be done in 3 days. Even boomer heavy vanguard is quoting 2 weeks to a month. Billion dollar companies cant find the shares you supposedly own?

Now if these brokers had really bought these stocks for you, which they are required to in T+2 days, They should be able to transfer right away (like fidelity is doing). But they cant

This is pretty damning evidence that all these brokers that we use to buy stocks, dont really buy stocks for you. Its amazing to watch this play out in real time. There is a literal run on the brokers right now for people to get their stock and the brokers dont have them.

is the market fraudulent or is it fraudulent?

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So yesterday, the day banks were supposed to prove $1 trillion in liquidity to survive a crash, Bank of America has a giant massive country wide outage were no one can access their funds? coincidence?

Its like hearing the pops and snaps of a giant tree about to fall over.

Only 1.385 trillion in RRP today.
The RRP are always higher the last day of the month. Got to cook those monthly reports.
 

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