Free
Message: Silverado Gold Mines, Naked Short Sell Positions

Jim Puplava relates a story below about two dealers covering up their tracs naked short selling a stock, I believe this is the type of illegal collusion that has been going on in Silverdo Gold Mines LTD stock ever since the company first started recovering placer gold nuggets that led them to the massive Antimony-Gold veins they descovered in the tunnels at Workman's Bench of the Nolan Creek Project. It appears that the naked short sellers were into deep when Silverado blind-sided them with a PR of their discovery, and they were left with no other choice but to drive the stock price down into the cellar. via naked short selling. JMHO

"It was amazing – I was at a social event last Saturday and most of the people at this social event were financial types. This particular individual I struck up a conversation with used to be the former head trader for one of these major firms. We had hedge fund managers there, we had portfolio managers - a lot of financial people. So the conversation is going on – the evenings get a little later. Obviously this individual had a few beers to drink and so we struck up a conversation."

"And I start telling him some of the things that I was seeing going on across the border in Canada with junior mining financing; and then I was talking about these various techniques that are used to move the market. And you know, it was amazing, Eric, he just opened up and enlightened me on other techniques. Like, one of the things that he told me about, for example, when you have a naked short position where you have let’s say 13 days or whatever it is to deliver your securities – okay, you don’t want to report it as a naked short sale, so what you’ll do is you’ll call up one of your buddies in the collusion syndicate and you’ll say, “you know what, we’re a million shares short, we don’t have the shares, why don’t you give us a million shares?” Well, the other firm may not have it but they’ll give him a million shares so you don’t have to report the naked short position and then when those 13 days run out for the other firm to report the naked short selling, the other firm will give them back their shares so they don’t report it. So they keep this whole thing going in circulation, so you cannot take as gospel the short positions that are reported on a daily basis."

"And he was telling me one particular case. The way the story went is the float – the average trading of this stock average about 400,000 shares. And he got a call – literally about half an hour before the market closes with an order to sell 700,000 shares. And he said, “you know, the float is 400, if I put 700 we’re going to crush it.” And the order was: “Crush the stock.”

http://www.financialsensearchive.com/fsn/BP/2008/0621.html#crime

Share
New Message
Please login to post a reply