Germany takes lead to abolish naked shorting
posted on
Nov 28, 2010 05:15PM
Excerpt from yesterday's International Forecaster written by Bob Chapman:
Following the lead of Germany, which we told you had sent members to Paris, London, NYC, Toronto and Vancouver, to ask them to stop naked short selling, ultra-fast share trading known as flash trading, which in reality is front running and the need for a derivative regulation, well Britain and France are about to follow. If they do, and the US refuses, volume will fall deeply. Thus, we believe that finally the US will follow and do away with these criminal activities. We predicted this last May when Treasury Secretary Paulson told congressmen, that if you do not pass financial reform we would crash the market. They then gave them an exhibition with a flash crash. This is how arrogant these elitists have become. At a minimum they will all be regulated and most of these practices could be banned. Included in these actions will be dark pools where all trades are secret and only appear long after they are executed. The NYSE is part of the epicenter of these activities. As we said recently that they want a global network of dark pools.