/biz/ - Business & Finance

>>54298698
You have an IOU that Fidelity will both be operational when you want to sell, will allow you to sell, and will pay you the money from the sale. Fidelity probably does not have your SLV, they have a locate from someone else, another IOU that, if Fidelity needs a SLV share, they will sell it to them. That person giving the locate also probably has a locate, this is how the stock market operates. There also may be a clause in your agreement with Fidelity that it can sell your position at any time if it needs to, a lot of brokerages added such provisions after the 2021 Robinhood (and others) fiasco and resulting lawsuits. If you do not have it in your house, either secret and safe, or heavily guarded, you don't really have it, you are trusting Fidelity with everything and will have no recourse if they fuck you over, because if they do, they will likely have fucked over so many other people and be so fucked over themselves that they have no way to make you whole