[quote]Jason_w2006 wrote:
This may be a retarded question, but if the bank froze me DEBIT card, and prevented me from getting MY money that they are holding, how the fuck can the economy continue to operate? Wouldn’t most everything just basically collapse overnight? [/quote]
No, it won’t.
A good argument against the “holiday” but it all depends on what they decide. to do.
Come on, are you that thick? MONEY will be worthless in maybe 4 years from now. But having cash DURING the holiday (ASSUMING they go through with it in October or even by the end of the year) will ensure youre able to buy food, drink and rent porn.
NO ITS NOT. The shares are in your broker’s name. THATS why they can let others “borrow” those shares when selling them short. Are you really so naive? IF everyone’s shares were registered in the OWNER’s names, the brokers would have to CALL each individual person to ask them for permission to sell them short.
[quote]Mick28 wrote:
LOL…I just couldn’t get past this. There is no such clause. If one owns a security it is registered to them.
[/quote]
I’m going to stockpile water, oxygen, and sunlight. You quacks can hoard all the cash and platinum you want but lets see how far you get without water, oxygen, and sunlight!
[quote]Mick28 wrote:
tribunaldude wrote:
NO ITS NOT. The shares are in your broker’s name. THATS why they can let others “borrow” those shares when selling them short. Are you really so naive? IF everyone’s shares were registered in the OWNER’s names, the brokers would have to CALL each individual person to ask them for permission to sell them short.
Mick28 wrote:
LOL…I just couldn’t get past this. There is no such clause. If one owns a security it is registered to them.
You idiot…that doesn’t mean that he can sell your stock and keep the money. That’s called FRAUD.[/quote]
Holy Pelosi…I was addressing your point about your shares being in YOUR name. They’re not unless you ASK for it.
And about the matter of him selling your securities in the event of his bankruptcy or financial problems, there is a clause saying he MAY do that. Besides once he files for BK there’s not a thing you can do about your lost securities since they were registered in HIS name.
Sure, they taught us never to trust a chick named Mick! Then again, Ive only been there a month so far.
[quote]tribunaldude wrote:
Holy Pelosi…I was addressing your point about your shares being in YOUR name. They’re not unless you ASK for it.
And about the matter of him selling your securities in the event of his bankruptcy or financial problems, there is a clause saying he MAY do that. Besides once he files for BK there’s not a thing you can do about your lost securities since they were registered in HIS name.[/quote]
You don’t invest, do you? You evidently don’t read the rules very closely if you do invest.
The stocks I buy are my own. The ONLY time a broker can sell your stock is if you have a margin call due, and you don’t make it. Then the broker can sell whatever he needs to in your account to make the margin call.
If you want to believe all this fear mongering bullshit - go ahead. I think you are an idiot for enjoying baseless fear, but you have every right to do it.
Just don’t act like you know something when it is blatantly obvious that you don’t. You are wrong about the brokers. Half-truth at best, out right ignorance otherwise.
Then you’re not buying your shares online. If you buy your shares online, they are registered in your broker’s name unless you ASK for them not be in your name.
I agree with you about the margin call, but nothing stops them from selling securities registered in THEIR name and then filing for BK.
[quote]rainjack wrote:
tribunaldude wrote:
Holy Pelosi…I was addressing your point about your shares being in YOUR name. They’re not unless you ASK for it.
And about the matter of him selling your securities in the event of his bankruptcy or financial problems, there is a clause saying he MAY do that. Besides once he files for BK there’s not a thing you can do about your lost securities since they were registered in HIS name.
You don’t invest, do you? You evidently don’t read the rules very closely if you do invest.
The stocks I buy are my own. The ONLY time a broker can sell your stock is if you have a margin call due, and you don’t make it. Then the broker can sell whatever he needs to in your account to make the margin call.
If you want to believe all this fear mongering bullshit - go ahead. I think you are an idiot for enjoying baseless fear, but you have every right to do it.
Just don’t act like you know something when it is blatantly obvious that you don’t. You are wrong about the brokers. Half-truth at best, out right ignorance otherwise. [/quote]
I respect that you called the Monday, although I’m sure just looking at the futures was all one needed to do to make that call. Regarding this “Bank Holliday” it doesn’t sound very plausible. The critical problem right now is that the cash flow is freezing up. Closing the banks would slow things down even more and would be counter productive. Also, at this point, the last thing they would want to do is start a run on the banks.
I do agree with you about the brokerage point. Rainjack and the others are quite naive to believe that a broker would never steal assets. If things get bad enough people will do some very bad things. If it gets to that point it will be so chaotic there won’t be much one can do about it. What are you going to do? Call the police? File a law suit? Good luck with all that when it’s happening to everyone and all hell is breaking loose.
I hope you’re right about the “bank holiday” not being plausible. If for no reason other than the rioting that would take place.
[quote]on edge wrote:
I respect that you called the Monday, although I’m sure just looking at the futures was all one needed to do to make that call. Regarding this “Bank Holliday” it doesn’t sound very plausible. The critical problem right now is that the cash flow is freezing up. Closing the banks would slow things down even more and would be counter productive. Also, at this point, the last thing they would want to do is start a run on the banks.
I do agree with you about the brokerage point. Rainjack and the others are quite naive to believe that a broker would never steal assets. If things get bad enough people will do some very bad things. If it gets to that point it will be so chaotic there won’t be much one can do about it. What are you going to do? Call the police? File a law suit? Good luck with all that when it’s happening to everyone and all hell is breaking loose.[/quote]
If your stock is not in your name, it is called being held in a street name. This does not mean the brokerage house owns those shares.
What it does mean is that they can quickly buy and sell shares. At any time a person can convert the shares to their own name. (Often at a fee.) Then they actually send you the share certificates. Nice to look at, but if you want to sell them, they have to be sent back in.
[quote]on edge wrote:
I respect that you called the Monday, although I’m sure just looking at the futures was all one needed to do to make that call. Regarding this “Bank Holliday” it doesn’t sound very plausible. The critical problem right now is that the cash flow is freezing up. Closing the banks would slow things down even more and would be counter productive. Also, at this point, the last thing they would want to do is start a run on the banks.
I do agree with you about the brokerage point. Rainjack and the others are quite naive to believe that a broker would never steal assets. If things get bad enough people will do some very bad things. If it gets to that point it will be so chaotic there won’t be much one can do about it. What are you going to do? Call the police? File a law suit? Good luck with all that when it’s happening to everyone and all hell is breaking loose.[/quote]
I am not naive. I trade on line, and I know exactly what my broker can and can’t do.
If it gets so bad that I don’t trust my brokerage firm to do what they are paid to do, I will exit the market. If youa re dealing with a company you don’t trust, that is your own folly. Don’t assume that everyone who invests on line goes for the firm with the cheapest per trade charge.
I am curious who you use that you have so little faith in them.
I never picked you for a fear monger, on edge. I am quite disappointed.
[quote]tribunaldude wrote:
And btw to anyone who thinks I predicted this will take place in October, I did not predict the october surprise. I am more of an emissary.
[quote]EmilyQ wrote:
The Mage wrote:
EmilyQ wrote:
Will there be food at the meetings?
You know those big shrimp? I mean the really really big ones?
Yes, yes. I love those.
We won’t be having those.
Oh.
Will there be any food at all? Mick and I want to know.
[/quote]
We could always order some pizza, and have it delivered. That way no one has to waste a bunch of time cooking, and we can spend more time on our foil hats.
