Jul. 25, 2023
We NEED transparency in markets, in order to rid them of the rampant corruption that market makers and others have fostered and abused for far too long. Participants in our financial system employ experts as well as complicated computer systems and networks connected to official exchanges and non-official exchanges (crypto, off-book digital asset swaps) - this creates an advantage that is completely one sided. Without oversight and appropriate reporting there is NO check or balance in place to ensure a fair market. The Reporting Threshold Amount memorandum analysis shows the smallest reported swap is $70 USD, however the minimum requirement for reporting any asset or debt bases swap or position should be $0 USD (or any other legal fiat currency). Any company and its subsidiaries must be forced by law to report any and all positions without any exemptions regarding the legal entity of the subsidiary or residency as long as they operate on United States soil in regulated or unregulated markets/exchanges. Over and over again, we see that when market participants are not required to disclose information publicly in a timely manner things go horribly wrong. The people are now watching the SEC and other regulatory bodies as we've witnessed catastrophic failures in the market that ONLY affect the people, never the participants who abused the system in the first place, they are bailed out time and time again with OUR money. Please, work to ensure transparency so that we can evolve into a society that truly values fair markets that work for everyone involved. The farce of a "free market" that currently rules over this country is wearing thinner and thinner, and the lack of action towards repairing it is laid bare for all of us to see.