July 9, 2008
If you have done any trading in the pink sheets. You wonder why you always lose your money and the company goes under. After doing extensive research I found in the last 5 years over 3000 companies have been run into the ground through naked short selling. Naked short selling is the practice of brokers selling shares of companies in which they have no shares. Or they have a million and sell ten million. Its easy for them to do, because all they do is put an electronic marker in your trading account. They can get away with this practice because the SEC never monitors the brokers. A good example is a case in CMKX. CMKX was sold to the tune of 3 trillion shares in the US alone. Estimates range as high as 7 million globally. And where was the SEC? Months went bye and CMKX traded billions of shares every day. The price never budged. Never changed. It stayed at .0001 for months. The biggest traded stock in the history of the stock market and where was the SEC? This is very real. And is spreading into larger companies. And this is very scary. I beleive terrorist are using our markets and our money to finance thier war on us. The SEC and Congress has done nothing about it. While we the people continue to write and fax them, showing proof in black and white. Last year the head of the SEC when asked about naked shorting stated "there is no naked shorting, just shareholders crying over thier shareprice going down. I'm happy to say Mrs. Nazzareth has retired from the SEC, maybe with the twist of her arm?
So maybe changes are coming but far to slow to suit WE THE PEOPLE Naked Short Selling is becoming more noticeable. Keep your eyes and ears open. You have not heard the end of it.