For Anons following the GameStop saga, here is a pretty cool Cohencidence!
(media.greatawakening.win)
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I'm not DRSed.
My understanding is there used to be a pile of needles (shares) and someone started throwing pieces of hay on it (naked shorts) and got fucked with how well the previous console generation did because ivy league idiots didn't understand the console cycle.
They started dumping hay by the truck load, thinking their covid lockdowns would destroy a struggling retailer. Except they literally locked millennials in their homes with nothing to do and no social interactions, so they did what they did last time their lives were like that and played fucking video games en masse, and then a new console generation started.
DRS is pulling needles out of the now epic haystack.
The problem that's going to make people money is someone needs to buy needles or they're fucked, and they're going to have to buy up all the hay to get to the needles.
So it doesn't matter if you have hay or a needle, what matters is they have to buy needles and you get to sell them their fucking hay hack.
Ahh that's a great recap👌
While this is absolutely correct here lies the main problem with not being DRS’ed, it is that these shares in brokers are still owned by the DTCC and not by ie John Doe, so DTCC could break all sorts of laws (they already do daily) but are basically the law could get brokers to liquidate accounts. Or if in a complete market meltdown your broker itself could be liquidated along with your account. It’s fucked up
That makes sense. How does this type of thing apply to DWAC shares?
https://www.sec.gov/Archives/edgar/data/1849635/000110465921090302/tm2117087d2_s1a.htm
Their transfer agent To DRS your shares out of brokers should be listed on here somewhere. I believe it’s Continental Trust or something close