I agree with that statement partly. The end of the article and the writer is going off into la-la land, but he does bring up a valid point that I agree with. Naked short selling is a major market manipulation tool and is being heavily abused by the major brokers.
Whats even worse is stock exchanges like Germany's openly allowing this. Call me paranoid, but I've been extremely weary of the potential manipulation of the US markets by foreign investors and entities who cordinate massive shorting schemes of american equities. The individual and small investors are being utterly screwed over.
I get the sense that guys like Soros and people managing major pools of money can profit off the massive cordinated naked shorting of american companies while creating tons of misery for the US economy. Companies that in no way deserve such shorting pressure considering their revenue numbers.
The manipulation is happening.
"Naked short selling is a major market manipulation tool and is being heavily abused by the major brokers."
Watch the last hour of the Dow and you will see market manipulation five days a week. That has become a way of life on Wall Street. As the Pros say, Learn it or stay out.