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The Water Cooler
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Dow - 26,000 - "Edit Next Stop 27,000"
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<blockquote data-quote="chadh2o" data-source="post: 3073311" data-attributes="member: 40131"><p>You are correct. This is the outfit that "owns" all the stocks in the US that are not privately held in certificates. </p><p><a href="http://www.dtcc.com" target="_blank">http://www.dtcc.com</a> </p><p>They are a privately held company (stake holders not share holders (think Federal Reserve)). Last I knew, 198 global stock markets transfered all trading data through them, because they hold the stock. The "stock" is assigned to your brokerage firm, then the "stock" is assigned to you. This also the DTCC to rent your stocks to short sellers, that compete against you in the market.</p><p>Because the DTCC controls all stock certificates, there is no way to know exactly how many shares are out. Overstock.Com CEO had issues with this as there were in his calculations 107% of his companies stock SHORT on the market.</p><p>"<em>Overstock CEO Patrick Byrne said, "The decimal is not misplaced --<strong>we have cracked the speed of light. It is my understanding that some shareholders (e.g., pension funds) might have asked that their shares not be made available to shorts, thus reducing the 8.97 million shares the DTCC has available for lending. <em> I also understand that the 9.58 million stated short interest does not include failed-to-deliver short sales, failed-to-deliver long sales, another category that the DTCC now cryptically calls, 'open positions,' or lending outside the DTCC (i.e., 'ex-clearing'), which only two guys on Staten Island understand. Thus the real ratio is anyone's guess, but it's somewhere between 107% and infinity. On a positive note, the DTCC continues to maintain that their Stock Borrow Program does not permit the creation of new or counterfeit shares: I think that's good, because otherwise this situation could be getting out of control."</em></strong></em></p><p><em><strong><a href="http://boards.fool.com/overstock-ceo-patrick-byrne-said-quotthe-23883333.aspx" target="_blank">http://boards.fool.com/overstock-ceo-patrick-byrne-said-quotthe-23883333.aspx</a></strong></em></p><p><em>BTW, my personal belief is Mr Byrne and his company were being targeted. He is a staunch "hard money" believer and dislikes the Fed Res in control of the US money supply, as was JFK (EO 11110).</em></p></blockquote><p></p>
[QUOTE="chadh2o, post: 3073311, member: 40131"] You are correct. This is the outfit that "owns" all the stocks in the US that are not privately held in certificates. [URL]http://www.dtcc.com[/URL] They are a privately held company (stake holders not share holders (think Federal Reserve)). Last I knew, 198 global stock markets transfered all trading data through them, because they hold the stock. The "stock" is assigned to your brokerage firm, then the "stock" is assigned to you. This also the DTCC to rent your stocks to short sellers, that compete against you in the market. Because the DTCC controls all stock certificates, there is no way to know exactly how many shares are out. Overstock.Com CEO had issues with this as there were in his calculations 107% of his companies stock SHORT on the market. "[I]Overstock CEO Patrick Byrne said, "The decimal is not misplaced --[B]we have cracked the speed of light. It is my understanding that some shareholders (e.g., pension funds) might have asked that their shares not be made available to shorts, thus reducing the 8.97 million shares the DTCC has available for lending. [I] I also understand that the 9.58 million stated short interest does not include failed-to-deliver short sales, failed-to-deliver long sales, another category that the DTCC now cryptically calls, 'open positions,' or lending outside the DTCC (i.e., 'ex-clearing'), which only two guys on Staten Island understand. Thus the real ratio is anyone's guess, but it's somewhere between 107% and infinity. On a positive note, the DTCC continues to maintain that their Stock Borrow Program does not permit the creation of new or counterfeit shares: I think that's good, because otherwise this situation could be getting out of control."[/I] [URL]http://boards.fool.com/overstock-ceo-patrick-byrne-said-quotthe-23883333.aspx[/URL][/B] BTW, my personal belief is Mr Byrne and his company were being targeted. He is a staunch "hard money" believer and dislikes the Fed Res in control of the US money supply, as was JFK (EO 11110).[/I] [/QUOTE]
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