Re: Jim Sinclair defines "babbling idiot"
in response to
by
posted on
Sep 13, 2012 01:29PM
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Question P... Would the shareholders that intend to sell shares at various moments in time out of financial necessity or pleasure as we begin our ascent from historic 12 year lows benefit from this babbling idiot article?
Yes they would absolutely benefit. They could sleep well at night knowing that the criminal financial system which has extended its influence even over the judicial system would not be able to steal their money.
If they wish to (or have a need to) sell their shares they can request the transfer agent to reassign their shares or a portion of them back to the broker and then sell them. Yes this would probably necessitate waiting a week or two between making that decision and being able to sell the shares in the market. That is the total cost of the protection achieved.
I anticipate no problem in my life so great or unexpected that it cannot be covered with cash on hand for a couple of weeks while waiting. Anyone who lives that close is inviting trouble into their lives.
I have ninety percent of my shares in either direct registration or certificate form. I am looking to increase that to about ninety-five percent. If calamity comes I can sell the five percent or other valuable holdings or use my excess cash which I do not keep in a bank. There will likely be bank "holidays" in this country again before this "insolvency crisis" is resolved.
The only monies I allow a bank to hold are those that are used to pay monthly bills. If the money in the bank exceeds that amount I quickly withdraw it.
The system will steal your money if you give them a chance to; I try to minimize its ability to do so. It may not be blatant and obvious yet; but some have already suffered and more will suffer. I am just trying to minimize my exposure and suggesting that others do the same.
Everyone is free to do as they choose.
P.