I’ve read theory it will create sort of a financial singularity or black hole as shorts get crushed by all their fake shares they need to close out. As short hedge funds are liquidated all their positions will be unwound. This could have weird effects such as on zombie stocks coming back to life like Sears etc as they have cellar boxed those stocks and never closed those positions (they never pay taxes either because of this but that’s another story). Anyways could be a dominoes falling thing where SHFs are liquidated then their backstops get liquidated and so forth. SHFs —> prime brokers—> Clearing houses —> DTCC —> ?? The ?? Could be final Boss the Fed banks system. But as Fed could print money they won’t go bankrupt per se which would cause other problems but the whole thing will ruin the Fed’s reputation and congress may be forced to act to audit it or repeal their charter which would be same for bankruptcy for them. But who knows for sure really what will happen.