> It didn't short 138% of GME stock. GME short interest increased to 138% while Melvin and many other hedge funds were shorting it.
You corrected yourself to include that they weren't alone, but whatever... but that still doesn't change the fact that this would be impossible to do if it were a blockchain based system with these parameters built in, you cannot fictitiously create more of something that exists in order to benefit you or your industry and then suspend trading when things get out hand in that blockchain environment, as its completely out of your hand and the fraud in impossible to forge. And clearly with a trillion dollar market cap, and growing, we proved that it pays to play by the rules.
> There is no evidence these firms colluded or engaged in naked short selling. Naked short selling is when you sell short a security without first entering into a contract to borrow the security. Short interest is orthogonal to naked short selling.
Ok... we're done. This is going no where, keep downvoting as that seems to be your only recourse but you being blind to this obvious reality that SEC is selectively applying the Law (which also happens to apply to OTHER Naked short selling) isn't changing the fact of how obvious this collusion was and nothing I say will change that.
You want to pretend these markets are fair, go ahead, and I'm not going to waste my time... But my points for Blockchain based tech solutions that exist are already there and your make believe arguments notwithstanding will not make them go away.
> but that still doesn't change the fact that this would be impossible to do if it were a blockchain based system with these parameters built in
Why? Shorting above 100% doesn't "create more of something". Why would a blockchain based trading system prevent me from short selling a stock based on what other people are doing? I've got the stock in my wallet. It was loaned to me by Bob. I can sell it to you right now. Why can't I sell it?
Because it adds no value when shorting is nothing more than a predatory model to extract wealth from the useful (entrepreneurs) to the useless (speculators). Consider the World's riches man only became so when the speculators made Tesla the most shorted company.
I think this shows, once more, that the Capital Markets as we're forced to believe are anything that and more a massive casino with reckless gamblers with connections to central banks endless money printing. And that's my problem with this more than anyting else, it's not fair, its not efficient it's a forced construct by the entrenched powers to create even more entrenched and systemic gaps in wealth and Society.
I'm not making normative statements about what's fair or not fair. There are legitimate and reasonable grounds for criticism of capital markets. I'm correcting your specific positive statements, which I quoted, because they're incorrect. I don't have anything to say about blockchain or the rest of your comment.
> I'm not making normative statements about what's fair or not fair. There are legitimate and reasonable grounds for criticism of capital markets. I'm correcting your specific positive statements, which I quoted, because they're incorrect. I don't have anything to say about blockchain or the rest of your comment.
Ok, I stand corrected, and I don't mind accepting that, but that doesn't diminish the value of my response; none the less I appreciate the correction.
You corrected yourself to include that they weren't alone, but whatever... but that still doesn't change the fact that this would be impossible to do if it were a blockchain based system with these parameters built in, you cannot fictitiously create more of something that exists in order to benefit you or your industry and then suspend trading when things get out hand in that blockchain environment, as its completely out of your hand and the fraud in impossible to forge. And clearly with a trillion dollar market cap, and growing, we proved that it pays to play by the rules.
> There is no evidence these firms colluded or engaged in naked short selling. Naked short selling is when you sell short a security without first entering into a contract to borrow the security. Short interest is orthogonal to naked short selling.
Ok... we're done. This is going no where, keep downvoting as that seems to be your only recourse but you being blind to this obvious reality that SEC is selectively applying the Law (which also happens to apply to OTHER Naked short selling) isn't changing the fact of how obvious this collusion was and nothing I say will change that.
You want to pretend these markets are fair, go ahead, and I'm not going to waste my time... But my points for Blockchain based tech solutions that exist are already there and your make believe arguments notwithstanding will not make them go away.