Yeah, SS on reddit pushes DRS a lot. I have no clue if the brokerages are going to auto sell our shares, but if WHs are in control I hope they let us sell for at least quadruple digits through brokerages.
DRS is the equivalent of a bank run on the DTCC, or the real owners of a gigantic portion of traded assets today.
The way things like stocks are traded is the DTCC actually owns the shares, while labeling the shares as "owned for the beneficiary of X". When stock trades hands, they just update the beneficiary to the new "owner" of the stock. The DTCC and it's member's abuse this system by allowing the update to not happen, causing "failure to delivers", and thereby GME's naked shorting.
DRS takes the stock from the DTCC and places you as the actual owner, not the beneficiary of the stock in someone else's hand. In doing so, the DTCC has less plausible deniability in allowing naked shorting, and if the combined DRS, insiders, and institutional shares near 100%, effectively create a bank run on the DTCC.
I dont understand why people think there will be problems selling on CS. You can do an instant 'limit sell' like any other online broker. I know cashing out once you sell might have some delays depending what method you use, but selling during moass shouldnt be an issue at all.
And dont forget DRS also takes your shares out of the short sellers pool of fuckery. This is why Trump Media is telling people to DRS on their website.
Sure their website is a bit old fashioned, but I dont agree they would have any more bandwith issues than other online brokers during moass.
CS for some reason dont mention their big clients on their "clients" page, but they are the transfer agent for huge companies like Apple. They arent a backyard company that will be running out of bandwith.
I have a handful spread across a few different brokers of course. But the vast majority of them are in the safest possible place in existence... the transfer agent CS.
End of the day, possible bandwith issues can be quickly overcome by CS adding more bandwith (and moass will take weeks to unwind...just keep trying to login, have different devices setup to login etc). What cant be overcome easily will be issues like brokers disabling access to accounts, or selling your shares without consent etc. And those issues have already happened.
Good luck solving those legal issues within 10 years. I fully expect most brokers to do dodgy stuff which is why Ive only left small amounts in a few brokers. Small enough amounts that I wont worry too much if it all disappears from fuckery (but those few will still give me an entry ticket to any future lawsuits).
Yeah, SS on reddit pushes DRS a lot. I have no clue if the brokerages are going to auto sell our shares, but if WHs are in control I hope they let us sell for at least quadruple digits through brokerages.
DRS is the equivalent of a bank run on the DTCC, or the real owners of a gigantic portion of traded assets today.
The way things like stocks are traded is the DTCC actually owns the shares, while labeling the shares as "owned for the beneficiary of X". When stock trades hands, they just update the beneficiary to the new "owner" of the stock. The DTCC and it's member's abuse this system by allowing the update to not happen, causing "failure to delivers", and thereby GME's naked shorting.
DRS takes the stock from the DTCC and places you as the actual owner, not the beneficiary of the stock in someone else's hand. In doing so, the DTCC has less plausible deniability in allowing naked shorting, and if the combined DRS, insiders, and institutional shares near 100%, effectively create a bank run on the DTCC.
I dont understand why people think there will be problems selling on CS. You can do an instant 'limit sell' like any other online broker. I know cashing out once you sell might have some delays depending what method you use, but selling during moass shouldnt be an issue at all.
And dont forget DRS also takes your shares out of the short sellers pool of fuckery. This is why Trump Media is telling people to DRS on their website.
https://greatawakening.win/p/17t1MiO98Z/trump-media-and-technology-group/c/
The CS site seems like it wouldnt' be able to handle the traffic.
Sure their website is a bit old fashioned, but I dont agree they would have any more bandwith issues than other online brokers during moass.
CS for some reason dont mention their big clients on their "clients" page, but they are the transfer agent for huge companies like Apple. They arent a backyard company that will be running out of bandwith.
https://investor.apple.com/contact/default.aspx
I have a handful spread across a few different brokers of course. But the vast majority of them are in the safest possible place in existence... the transfer agent CS.
End of the day, possible bandwith issues can be quickly overcome by CS adding more bandwith (and moass will take weeks to unwind...just keep trying to login, have different devices setup to login etc). What cant be overcome easily will be issues like brokers disabling access to accounts, or selling your shares without consent etc. And those issues have already happened.
Good luck solving those legal issues within 10 years. I fully expect most brokers to do dodgy stuff which is why Ive only left small amounts in a few brokers. Small enough amounts that I wont worry too much if it all disappears from fuckery (but those few will still give me an entry ticket to any future lawsuits).
You can always call CS up for selling also.
Didn't know apple used them, that's good. Calling CS will be a nightmare when millions of apes are calling at the same time
One can hope