what you are missing is the role of the brokerage firm. you seem to give the impression that you think they are honest good upstanding Canadian and American angels.

In naked short selling the brokerage firm (the bank, or its investment manager ) is part of the criminal game.You , I or no one else is likely to be privy to the deal (s) being made. niether will we ever be able to follow the paper trail.Even if 3 people or entities are in on the take, 300k is a nice days haul,In my world it is.

Get yourself a good book on the topic or goggle in financial sense.com ad listenor read the "crime of the century" in the srchives