This is what bugs me.
Why would the brokers care if Certs are given out ?
Why would the Transfer agent care ?
Why would the MM's care ?
Here is my theory, please share yours.....
Brokers are to ensure that the shares are not shorted, prior to providing us the shares in streetname.
Once we request Certs, they are now in our name and their butt is on the line.
However they do have a legal agreement with us that they can revert back all the money we invested, and take back the shares.
Ahaaa, but here is the catch CMKX is now private
what exactly are they to do in this case.
The Transfer agent doesn't really care, their job is to simply give us the Certs that the Brokers are asking to change in our Name.
So in reality they are out of the picture as it is not their job to ensure that the NSS is not occuring.
The individuals that are most vulnerable in this case are not the brokers, although they are next in line, or the Transfer agent but the MM's.
Think about this...their entire function is to ensure that they don't sell more shares then actually exist.
Should the situation arise that the stocks are in very high demand, they are to raise the price to allow for sale of the shares and make them more expensive for other people to pull back from buying any.
The MM's are also permitted to stop the traiding of a stock for a short period if the stock price has gone up beyond what is acceptable.
However they are permitted to buy a small percentage beyond what is the maximum shares out there, to prevent having to have to stop that stock in being blocked from trading during that day.
We all know that the MM's are not following these rules, as it is in human nature to break rules.
Therefore things have gone out of control, and it may not even be intentional. On the other hand it may have very well been intentional as I have been watching CMKX on a daily basis and Millions and Millions of shares were being sold with the stock price droping.
Think about it. How is that possible ?
They should have raised the stock price if they were doing their job to prevent this from happening.
I feel there is some criminal activity going on and hence we have other groups investigating the matter.
Hence we are doing the Cert pull.
We need undeniable evidence wich the Courts will need to see. They must have no way out, but to then give us access to the rest of the records, as it will be a criminal investigation at that point.
They know it and we know it.
The result will be that Insurance companies will need to cover these losses, and people who have been involved in this illegal manipulation will be prosecuted.
On the other hand, perhaps the computer systems should be set up in such a way, as to not allow the MM's from going beyond what they are permitted to.
Perhaps the root of the cause is the system they are using. Perhaps other people should be monitoring the MM's too.....
This is my theory....
;D ;D ;D