Oct. 20, 2022
Dear Ladies and Gentlemen, I have been invested in American shares for two years. What I have experienced and witnessed in terms of manipulation and fraud during this time would never have been imaginable to me as a German investor. It is hard to put into words how obviously and without any scruples prices are manipulated daily in the directions that market makers, hedge funds, brokers, banks, etc. need in order to take private investors' well-earned money. And this at the world's largest stock exchange. You, the SEC, are responsible for ensuring that the financial market is not manipulated and cheated. And what do you do? You issue fines that are paid out of petty cash by the fraudsters and think you can reassure the public with that. I think those times are over, our society is too well informed and enlightened for that. Finally, make sure that orders from private investors no longer end up in the dark pools, but are executed on the official exchanges. How can it be possible that there are shares that have been traded daily for months at 70, 80, 85% via dark pools? What do the official share prices still have to do with the actual value of a company? Finally stop PFOF, short letter attacks, finally stop short selling that ruins companies and destroys jobs in your own country. How perverse is a system in which there are companies that are allowed to be market makers, hedge funds and brokers all at the same time, and at the same time have innumerable offshore companies so that not even the taxes from the frauds stay in their own country. The only thing that remains are donations of millions to politicians to maintain the system. All this is so perverse that no sane person can imagine it. And every day, more and more private investors around the world are learning what a disgusting collection of fraudsters Wall Street is. Stop this perfidious system of fraud and corruption. The patience of private investors should finally be exhausted after 2008. Be courageous at last, your children and grandchildren will thank you ! Yours sincerely Dirk Scheffe *** Translated with www.DeepL.com/Translator (free version) ***