Oct. 30, 2022
October 30, 2022 This is the easiest by far of the three comments I've submitted with respect to upcoming regulatory proposals In fact, in both of the other ones, I alluded to shorts because of how central they are to the deceptive practices predators on Wall Street use to swindle unsuspecting \"clients.\" Advocates will claim that shorts are there as a necessary mechanism to ensure security prices are not inflated -- but is value not defined by how highly regarded it is by those who are willing to stake something for it? If there is a substantial number of people who believe the fundamentals of a company warrant their support, how can it possibly be fair for a single individual with a greater net worth than the lot of them combined to decide it is not only not worth the price listed -- but also ensure that that price goes down?? With the ability of market-controllers -- \"market makers,\" as they euphemistically call themselves -- to divert retail trades to dark pools while ensuring the price of any security stays what they think it should on lit pools to open an unlimited number of naked short positions in the name of the ever-holy \"liquidity\" to frontrun trades via secret trade data gained through payment for order flow -- with all of that, how could betting against a security possibly be a fair reflection of the value of a company??? We've already seen it decimate household name companies like Toys'R'Us, Radioshack, and Sears. What is, in my opinion, far worse, is the countless medical and technological breakthroughs made by smaller companies which were quickly shorted out of existence -- not because they did not have value -- can you imagine a greater value than curing cancer -- but because it threatened the status quo too much -- the companies these same \"market makers\" have investments in -- and just as importantly, friends running and owning. And as a cherry on top, because those stocks are then delisted and driven to declare bankruptcy, they then can keep those naked short positions open to avoid taxes and use them as collateral to be conveniently pumped when necessary in case any of their trades get a little out of their control. You know, like is happening right now. Shorting as a whole is a cancer on the market. Naked shorting is something far worse, something I cannot think of an appropriate analogy for. And this regulation isn't even seeking to ban them The very least -- and I mean very least -- you could do, is make these transactions transparent -- so that 1% of 1% of \"retail\" -- a term which implies shopping, almost as if it is the oligarchs shopping for fools on the other side of their bets they do call us \"dumb money\" after all... -- investors have some chance of knowing what they're getting into, and perhaps, maybe, anticipating the actions of our \"betters\". In SHORT, shorting is a mechanism that is used to predate on everyday people, tricked into putting their hard-earned money into the clutches of the financial system, a system which looks down upon them and thinks of them only as a source of easy money, in the hopes they won't have to beg for cat food to eat -- remember that in 2008?? That's not an exaggeration. It was of course called the \"cat food commission\" for a reason. Well, we've got FAR WORSE lined up for us already in the not too distant future. The absolute least you can do is make the shorting endemic in this system a little more transparent, so that next time we have to deal with this -- it's far too late to stop the storm on the horizon -- there is some hope we might avoid it. You know, assuming capitalism lasts that long. Make things transparent Especially short selling and the ill effects it has Retail has been asleep -- WE ARE NO LONGER. The powers that have controlled this process up until now will soon know the power of PEOPLE and how much more important it is than this imaginary thing called money. But while those figments still means something, you might as well try to do a good thing. Shorting of securities must be shared, tracked, regulated, fined, imprisoned, and all the rest. ONLY YOU HAVE THE POWER TO DO THIS. What will you do?