lets talk about chess holdings

  1. 47,086 Posts.
    I'm a regular listener to Jim Puplava and he has had a lot to say about "naked", read "illegal", shorting on the NYSE. Without knowing for sure I've assumed that our CHESS system is better than theirs. But is it?

    In Canada it seems that if you allow your shares to remain Broker Sponsored (you don't take delivery of share certificates) your broker "friend" can deal in them as s/he wishes ie loan them for shorting. Seems this is considered moral. LOL

    I suspect that some hardliners here, who rubbish Opes victims, don't know much about this either.

    Happily, I had never heard of Opes but I sympathise with the victims. "There, but for the grace of God, go I."
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