Gamestop admitting what we've all been suspecting.
(media.greatawakening.win)
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If GME issues dividends as NFTs, the holders of the synthetic shorts have to pay out NFTs that they don’t own and can’t get. I don’t think it’s going to prevent fuckery just make it public and blow up the system.
The way I read it is... if a company issues a dividend, then that dividend is distributed to the shareholders by the DTCC. If GameStop's dividend is in the form of a NFT, then like you said, there will only be enough NFTs for the legit shares, and that makes a huge problem. At that point the DTCC is put in a position to say that they can't/won't distribute the dividend (NFT) and if they can't uphold that obligation then GameStop has the option of taking their shares to a whole new platform (speculation of a new blockchain trading market being developed).
If all that happens, then it would be great to get an honest market system in place, and leave the corrupt Wall St. current system to die... but what becomes of all the naked shorts that the hedge funds are holding at that point? I'm confused about that part... or maybe I'm confused about everything going on with this, lol.
That’s the fun part, shorts have to buy back every single short until the float is 100% back to it’s original figure. The theory behind the infinity squeeze is that Apes are pulling shares out of circulation by never selling even during MOASS. With how badly GME is shorted, it’s almost safe to say Apes alone own the float, maybe even multiple times over.
If the squeeze happens organically the DTCC takes the hedge funds long holdings as collateral and gives them cash in exchange, this would prevent a total market collapse. After the hedge spends the cash or hides it in the Cayman Islands, then they still can’t deliver and the DTCC liquidates their remaining assets and the computer starts filling the delivery orders starting with the lowest priced stocks and doesn’t discriminate on price to fill the shorts. The DTCC has quite a bit of funds available to do this.
I understand that, the only part that I don't specifically understand is if GameStop moves their shares to an all new blockchain/NFT market... I don't understand how that would work, and how it would effect the hedge funds and the synthetic/naked short shares. Obviously something like this is uncharted territory, so I'm just trying to understand how it might work.