[BipolarBob]

Also, the way to avoid being scammed by the above process by the brokerage firms is to place ‘limit’ orders when you buy or sell.

That may work in normal times and normal stocks but in high volatility it blows right through the limits. Then the brokerage has to figure out whether or not to buy/sell outside of the parameters you set. They have little clauses in their contract with you to limit their legal exposure on these decisions.

[cgbg]

I am a little surprised that most Freepers do not understand how the financial markets work in the real world in 2021.

This article explains it:

https://www.zerohedge.com/markets/its-not-just-robinhood-reddit-rebellion-has-clogged-entire-financial-systems-plumbing

Bottom line—_everything_ is on credit all the way up and down the chain. You don’t own _anything_ unless you possess it in your hands.

You do _not_ own stock unless you hold the certificate in your hand—otherwise you have purchased a promise from someone (your broker) to deliver a stock. It is a promise that _can_ be broken, and then you are just a creditor fighting it out in bankruptcy court.