Short selling lies

purch

know what a loan is and I know what theft is.

I have been in contact with the Oxford Press and Websters to try to get them to change the definition of the word 'THEFT'

My idea is this;

THEFT: When someone takes something that doesn't belong to you, with the full agreement of the owner, to use for a purpose that you don't agree with, and then returns it at a later date to the owner, who is not you, and all along you didn't even know that the transction happened.

I'm not sure I'm going to have much luck.......

Masomnia

Esbo,

I can only suggest that in future you read the terms and conditions of the broker you use. If they state that the broker will use a practice you disagree with, then avoid them. If not then that's fine.

If you agree to them being able to lend out your shares, then really you can't complain. If you didn't agree to that and they do it then maybe you do have a grievance. In that case, go through the proper channels, don't just come on here to moan.

Debt_Free_Chick

The World at One on R4 has an item on short selling NOW (well, in a minute)

esbo

purch wrote: »

I have been in contact with the Oxford Press and Websters to try to get them to change the definition of the word 'THEFT'

My idea is this;

THEFT: When someone takes something that doesn't belong to you, with the full agreement of the owner, to use for a purpose that you don't agree with, and then returns it at a later date to the owner, who is not you, and all along you didn't even know that the transction happened.

I'm not sure I'm going to have much luck.......

Try soomething similar like "when someone steals or devalues your assets.

esbo

Masomnia wrote: »

Esbo,

I can only suggest that in future you read the terms and conditions of the broker you use. If they state that the broker will use a practice you disagree with, then avoid them. If not then that's fine.

If you agree to them being able to lend out your shares, then really you can't complain. If you didn't agree to that and they do it then maybe you do have a grievance. In that case, go through the proper channels, don't just come on here to moan.

My 'broker' was HBOS :rotfl::rotfl::rotfl:
Indeed I expect most of the shares were held by HBOS as they were demutulisation stock.

I am 100% sure that if there was a clause in your contract for your broker to short-sell your shares nobody but an idiot would agree to it if they knew about it

I mean, would you? Be honest. You would have to be insane to agree because the chances of you gaining from it are practically zero and you know it.

Hence the coining of the term 'short-selling' because it is being done behind the backs of the people who are having the stocks they own devalued.
It is theft pure and simple.

Of course you won't get the stockbrokers who appear on TV saying this for obvious
reasons, they are making fortunes doing it, ie stealling your money. They will be the last to say it is wrong.

The 'proper channels' are to make this scam public which I am now doing so the crooks who have been profiting from it can kiss their ill gotten gains goodbye.

You can expect there to be a change in the law soon.

tradetime

The 'proper channels' are to make this scam public which I am now doing so the crooks who have been profiting from it can kiss their ill gotten gains goodbye.

You can expect there to be a change in the law soon.

Eerm yeah good luck with that, you bring it in on planet esbo, and we'll take it under advisement here on earth.

esbo

Mark my words, the writing is on the wall for the city spivs.
Short selling is a crime of the past.

MarkyMarkD

esbo wrote: »

No it i is not irrelevant at all it makes a huge difference.
I sincerely hope the stock my broker held for me was not lent out, any broker who 'lends out' stock he does not own should be shot, whatever convoluted methed he uses.

I'm not talking about brokers. I'm talking about index-tracking funds.

TRUSt_NO_1_2

Masomnia wrote: »

Esbo,

I can only suggest that in future you read the terms and conditions of the broker you use. If they state that the broker will use a practice you disagree with, then avoid them. If not then that's fine.

If you agree to them being able to lend out your shares, then really you can't complain. If you didn't agree to that and they do it then maybe you do have a grievance. In that case, go through the proper channels, don't just come on here to moan.

POST ON THIS WEBSITE TOMORROW 10 BROKERS OUT OF THE THOUSANDS THAT OPERATE WORLD WIDE WHO STATE IN THEIR TERMS AND CONDITIONS THAT THEY MAY LEND OUT YOUR STOCK TO OTHER BROKERS OR INDEED USE IT THEMSELVES TO SHORT THE STOCK (AGAINST YOUR OWN INTERESTS...as that is what they are doing) !!!

tradetime

esbo wrote: »

I am afraid I am not that stupid I actually know what I am talking about .

But you disguise it so well. I think they're playing your song
http://www.youtube.com/watch?v=u9D5hzMtNOA