Tag Archives: naked short selling

Europe bans naked short selling of sovereign debt – unless it turns out that fraud is, indeed, the system, in which case, they’ll allow it

Posted on February 21, 2012 by stacyherbert| 12 Comments

Stacy Summary: So Europe says naked short sales – i.e. fraudulent selling – are banned; unless the restrictions negatively impacts liquidity; in which case, ‘competent‘ authorities will allow it. As Max always says – fraud IS the system. If you remove fraud from the equation, there is no system. So don’t look for this ban to actually ever be used.

Europe bans naked short selling

To tackle the increased risks posed by uncovered short sales, the proposal requires that anyone entering into a short sale must at the time of the sale have borrowed the instruments, entered into an agreement to borrow them or made other arrangements to ensure they can be borrowed in time to settle the deal.

However, these restrictions don’t apply to the short selling of sovereign debt if the transaction serves to hedge a long position in debt instruments of an issuer. Moreover, if the liquidity of sovereign debt falls below a specified threshold, the restrictions on uncovered short selling may be temporarily suspended by the competent authority

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Posted in Headlines

Tagged cds, naked short selling

[KR45] Goldman Sachs, Undeclared Enemy of the State

Posted on May 25, 2010 by stacyherbert| 123 Comments

Stacy Summary: We look at the scandals of naked short selling, supplementary liquidity providers and the conspiracy of banks. And we also mention the financial terrorist playing cards. In the second half of the show, Max interviews Jim Rickards about naked short selling and overwhelming the specialist system, Wall Street banks undermining Greece and Goldman Sachs as an undeclared national enemy. (**UPDATE** – Below is a jibber jabber thread for the latest market carnage).

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Posted in Max Keiser Video

Tagged goldman sachs, greece, jim rickards, keiser report, max keiser, naked short selling, stacy herbert

‘Acts of Desperation’ & Hyperinflation Trades

Posted on May 19, 2010 by stacyherbert| 232 Comments

Stacy Summary: The ban on naked short selling in European government bonds and Germany’s 10 largest banks is apparently in place until March 31, 2011. Via @NicAbbo77 here is text of German ban on naked short selling. Regardless, the turmoil doesn’t seem as bad as post Lehman as many were warning yesterday and gold is off its all time euro high. It seems to me the argument from bankers is that we are in an Afghan poppy like corner – we have to let the warlords grow poppies or else there will be Taliban chaos! Failed states, failed markets. Or as Max says, “Without fraud there would be no markets” **UPDATE**: The final headline is from Denninger; and he says that there is also a ban on naked shorting of gold.

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Posted in Headlines

Tagged carry trade, germany, gold, naked short selling

[Video] Matt Taibbi on naked short selling

Posted on October 14, 2009 by stacyherbert| 30 Comments

Stacy Summary: H/t @Youri Carma. This appears to be about two weeks old, but is a must see.

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Posted in Headlines

Tagged matt taibbi, naked short selling

Headlines, Headlines, Headlines – 01 May 2009 [Updated]

Posted on May 1, 2009 by stacyherbert| 15 Comments

Stacy Summary: Not all workers were having their wages and benefits slashed under the Bush-Cheney Regime. The psychologists, Jessen and Mitchell, who ‘designed’ the torture techniques were paid $1000 per day! Hello? Google “torture methods”? Here you go, Wikipedia gives you an entire list for free. Now give me $1000.