Posted on 07/26/2005 8:17:17 AM PDT by OK
- Dateline Stockgate: We're on, we're off, we're on, we're off.....WE'RE ON AGAIN: July 31st!!! by Mark Faulk (Editor's disclaimer: This article comes with a "I'll believe it when I see it" disclaimer. Like a lover who's been jilted one too many times, I'm getting a tad bit gun shy when it comes to this story.)
Okay, here we go again.....WE'RE ON!!! (subject to change.)
Dateline Producer Sharon Hoffman has confirmed that the Dateline expose' dubbed "Stockgate" (what scandal these days doesn't end in "gate"?) is scheduled to air on July 31st, at 7:00pm Eastern and Pacific Time, and at 6:00pm Central and Mountain Time (subject to change).
Before everyone gets too excited, let's review the history of the Dateline Stockgate segment:
June 11, 2004: "Is Dateline Losing Credibility Over StockGate Story Delays?"
The Faulking Truth first breaks the Dateline Stockgate story in an exclusive article, saying that:
It's been called the biggest financial scandal in the history of the world, with incurred losses estimated by some experts at well over $1 trillion dollars. It's a scandal that involves over 1,200 offshore hedge funds, over 150 US brokers, and has already bankrupted over 7,000 US companies in the past six years. According to many of the lawsuits filed to date, the crooks include terrorist groups and organized crime syndicates. Sources say that this scandal, which involves an intricate system of selling electronic counterfeit shares of stock in an effort to destroy the market value of small publically traded companies by utilizing a method known as "naked short selling", will eventually implicate almost every major broker in America, all of the governing bodies that oversee trading, and will extend into Canada and Europe. click link for more...
(Excerpt) Read more at faulkingtruth.com ...
There is a difference between selling counterfeit shares and selling shares short.
Yes, the counterfeit shares are for short sales.
The OMwhores have mislaid the public so many damn times that they have actually lost ground and creditability with them, so much so that their Scandalgates have lost traction!
One wonders how much of this probable/possible crime scene can be laid at the feet of George $oreA$$?
Yes, most people will not catch on to the the magnitude of this ongoing scandal. However it affects all of us if we have stocks, mutual funds, or pension funds because it artificially depresses the price of stocks.
Individual investors are showing up the scam because the government seems unwilling to act.
Some small companies have noted that there are twice as many or more shares on the market as they ever issued. This depresses the price of all the shares.
Counterfeit shares would be shares you print yourself. Short sales are different.
This is much bigger than just George Soros, but that is a good question. This can't have gotten this big without major wall street firms and the SEC looking the other way for many years.
No, the counterfeit shares only exist as electronic blips, not stock certificates. The DTC is supposed to keep track of this, but has dropped the ball.
This is not about printing certificates it is about short selling shares without having the shares. It is just electronic line entries. No certificates are involved.
Good thinking. I'll bet the farm that I don't own, that SoreA$$ is involved.
No doubt they didn't want this out during Bubba's time.
I do think this is bigger than their dislike for Bush. The whole financial establishment has a stake in sweeping this under the rug.
Once you understand this issue you lose confidence in Wall Street and the government.
The vast majority of shares exist only as electronic blips.
This is not about printing certificates it is about short selling shares without having the shares. It is just electronic line entries. No certificates are involved.
Yes, short selling means selling shares you don't own. You don't sell them and walk away with proceeds, you still owe the shares to the buyer.
No question----I do not doubt it for a nanosecond.
From what I gather, traditional short selling means borrowing shares from somebody, selling them, buying back, and returniong them to origianl owner. 'Naked' short selling means not even borrowing the share. In this way short sellers can sell as much as they want with no accountability for returning the stock.
I guess what I'm trying to say is, WHY now? This should have seen the light of day years ago! If they are for the little guy like they say, why didn't they expose these scums ions ago! The presstitutes have an agenda! Mark my words, they'll find something to stick W or his loyal friends to this scandal! I just find it ironic that they chose this time to bang WS. How convenient since the Rove scandal didn't go anywhere let's try another scandalgate!
bump for later reading
Has GW's new head of the SEC been approved yet?
This may be why we are seeing this action.
However, anything that CBS does will try to blame GW, Karl Rove, Haliburton, Cheney and we evil Republican investors even if this started during the Clintoon years.
Yes. I knew specialists could do this. I wasn't aware of any Canadian exemption.
In this way short sellers can sell as much as they want with no accountability for returning the stock.
You do eventually have to return the stock. I wasn't aware that foreign broker dealers could somehow avoid forced buy ins, but if that's the case, close the loophole.
I have no problem with stopping abusive practices. I just had a problem with the phrase "electronic counterfeit shares".
Another thing that can happen is that perfectly sound companies can be shorted into bankruptcy so the shorts never have to cover.
Small companies need to either borrow money or sell shares in order to have funds for building the business. If the share price gets shorted down to pennies, then they can't finance through issuing shares and banks won't loan to them.
This way the short sellers win their nasty game and never have to cover. The company is shorted into oblivion.
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