Re: Suicide and Jim Sinclair.. Tragic illustration
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HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: Re: Suicide and Jim Sinclair.. Tragic illustration
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Same thing happens in Canada!
This suicide a tragic illustration of the ramifications of the deception the brokerage houses and banks are involved in.... Simply the breach of trust and fraud are the moral issues at stake here...and are the fundemental reasons why the stock markets are viewed as a rigged table.
The solution is truth and honesty in the market and a return to investments in their traditional form.... all other dirivatives and short selling being manipulation and theaft of someone elses property.
When investors can trust their investment to be just that, an investment in a company, they will buy into it.. The problem now is every stock has become a trade.. a bet on a price swing and not an investment in underlying fiability or profite... but a trade to skim some cash from a trade.
JMHO
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Who provides the shorts with paper????
This is from the CIBC investor sercices account agreement... look in disclosures... Pg 11 of 74
This is what it says.. could not copy;
10. CIBC investor services right to use securities
At any time when I have a short position or I am in debt to you:
a) any securities held by you for my account may, without noticeto me, be pledged or repledged by you as security for any such indebtedness, whether for more or less than the amount due by me to you and either separetly or together with other securities. You may, without notice to me, loan such securities either seperately or together with other securities; and
b) any securities held by you for my account may, without notice to me, be used by you for making delivery against a sale, whether a short sale or otherwise and whether such sale is for my account or another customer, or for sale to any account that you or your partners, officers, or directors may have a direct or indirect intrest in.
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I think most banks/ firms have similare agreements that basicly allow them to use your stock without permission to short sell or loan, thus taking a contrarian position to you!
In other words in conflict of intrest. They have cart blanch to take the profits from your investment if you are not fast enough to do so... or in the case of loaning out those shares take the fees pretaining to those fees.
Re: Who provides the shorts with paper????
Posted by: res-investor on September 22, 2008 04:15PM
The point is that the brokerage house/ bank use the positions of their clients as pre loaned paper to short against.
At any time the protraders in house will sell your investment down if it is trading in overvalued teritory.
It's the fundemental fraud, breach of trust and conflict of intrest that is the problem. Now that the pillers of our society are the victims, the truth is becoming main stream topic.
I see today that one firm boasting of how much they made shorting is now going to buy back a bunch of their own paper....This is a simple moral issue..... should someone else be allowed to profit for someone elses investment and at the expense of the real investor.
It is the deception of the investor in who is providing the borrow. I maintain that no investor would willingly allow his shares to be used to provide downside momentum in the stock, and certainly not without being compensated for it. The Banks, not only decieve their clients but also take any fees resulting for provision of the stock to another insitution.
The deck is staked against the long holder. JMHO
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