Apr. 20, 2022
Greetings fellow human! I write today to comment on the proposed rule mentioned. The proposed SFT vehicle reads to me (RETAIL TRADER, USA) as yet another over complicated method of the market makers and short hedge funds to escape thier commitment to deliver valid legally purchased securities.(FTD) It's quite obviously yet another way the elite sophisticated traders if wall street are suppressing accurate price discovery, and it looks as though this proposal will remove ALL RISK of naked short selling, basically allowing the never ending counterfeiting of US securities. What that means to the lay person retail trader is a brokerage can take your money, and NEVER deliver any shares to you. (FTD) Where I grew up we call that stealing. If this is passed I will absolutely never hold another US security outside of a Transfer Agent. It's obvious at this point that the major brokerages and market makers have been FTD'ing our securities for likely decades (let's just look at the ETF XRT) Again, stealing from the poors..... The age of crypto is here and there's no need to invest into a dying illegitimate system that is designed to fleece my wealth. There's no need for a "Fungible pool of Failed Assets" when every single valid share in existence can become an NFT, and be tracked for it's entire lifespan.... Decentralized commerce will be the future(sooner if the SEC doesn't do it's job. ) I feel like a better use of the SECs time would be spent defending retail trades from being routed to dark pools resulting in no accurate price discovery being possible in our allegedly Free Market. It's time for the SEC to stand up for the people of the world, not the rulers of wall street. Be brave, Stand up for what's right, and let's purge these unfair practices from our books... Thanks for your time.