Web: As The Country Burns, Citadel’s Founder Spends $100 Million On A Painting

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As The Country Burns, Citadel’s Founder Spends $100 Million On A Painting

ZeroHedge, 4 June 2020

While the country burns and millions of Americans scramble to figure out how they’re going to survive once supplemental unemployment benefits expire, Citadel founder Ken Griffin has just dropped a $100 million nut – nearly half the amount he dropped on a Central Park penthouse, and roughly equivalent to the cost of his wintertime Palm Beach Mansion – on a contemporary painting by American artist Jean Michel Basquiat, who died of a drug overdose in 1988.

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Web: Our Financial Oligarchy; Emperors of a Brave New World

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Our Financial Oligarchy; Emperors of a Brave New World

They own the regulators; they own the brokerage houses; they own the clearing houses; they own all of your investments; and it’s even been shown that they can exert complete control over the government.

To understand how these banks exert complete control over our financial system, one must first understand the securities clearance system.

In the United States of America, there is only one central clearinghouse: The Depository Trust and Clearing Corporation, and for almost 50 years they have maintained a virtual monopoly over this essential service.

It is a private corporation that is owned by these mega-banks and brokers.

Read full free book online with many illustrations

PDF (470 Pages): Our Financial Oligarchy Back-Up

Web: Lincoln Park Capital, Legendary Vulture

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Lincoln Park Capital

UtopiaCapital Research, 17 May 2020

  • Lincoln Park Capital LLC is arguably the most prolific so-called “vulture funds” currently operating in the realm of small/micro/nano caps.
  • Several of the companies Lincoln Park has been involved with raise several red flags. Examples include: TNXP, AVXL, ONCY and BTCY.
  • Since 2018 Lincoln Park has been involved with 43 different companies. The vast majority have since experienced significant decreases in their share prices, in some cases greater than 99%. The average annualised rate o return for 42 of these 43 companies is a horrific -42%.

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Web: Why is Naked Short Selling Both Illegal and Common Practice?

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Why is Naked Short Selling Both Illegal and Common Practice?

First American Stock Transfer, undated

The Depository Trust & Clearing Corporation or DTCC (the final depository where all U.S. trades are settled and cleared) cannot settle fraudulent trades. According to the DTCC website, “We don’t have any power or legal authority to regulate or stop short-selling, naked or otherwise.”

While DTCC may not have the authority to regulate any short selling, it could create computer programs that would track share holdings to determine if they are real shares or simply entitled. Some believe that the DTCC chooses not to monitor these transactions more closely, because they make money on the interest and the loaning of these shares.

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Web: NakedShortReport – What Is Naked Short Selling?

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What Is Naked Short Selling?

When a seller “naked short sells a stock” they do not own the shares they are selling and therefore are selling artificial shares. This is like counterfeiting a stock. This process creates an obvious unfair advantage to the seller and an imbalance in the market as the sell side is now increased with more shares – many of which are counterfeit. There is a time limit on how long the seller can sell these shares and be naked on the trade and the time limit is 3 days. This is where the RegSho rules come in and the data we track. If the sellers broker-dealer has not located a borrow to cover this short trade within 3 days they will need to purchase back the shares they have sold on the open market. This process is referred to as a “Buy In”.

“When it comes to illicit short selling, the shorts win over 90% of the time”

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Web: Wikipedia – Naked Short Selling

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Naked Short Selling

Naked short selling, or naked shorting, is the practice of short-selling a tradable asset of any kind without first borrowing the security or ensuring that the security can be borrowed, as is conventionally done in a short sale. When the seller does not obtain the shares within the required time frame, the result is known as a “failure to deliver” (“FTD”). The transaction generally remains open until the shares are acquired by the seller, or the seller’s broker settles the trade.

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Web: Investopedia – Naked Shorting

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 What is Naked Shorting

Naked shorting is the illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or determine that it can be borrowed, before they sell it short. So naked shorting refers to short pressure on a stock that may be larger than the tradable shares in the market. Despite being made illegal after the 2008-09 financial crisis, naked shorting continues to happen because of loopholes in rules and discrepancies between paper and electronic trading systems.

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