/biz/ - Business & Finance

>>54787687
Then it's time for a breakaway civilization. Those who can, get to live in the Star Trek utopia of abundance we're capable of contributing towards -- and the rest can go on carrying shit in pails and reaping the fruit of -their- labor. But they won't. They'll be envious and get put down just like every other dead end segment of society before then that tried to take the prosperity they didn't create. And you can say "well that it isn't fair", but it is. And that's life.
12 years of free education and for so many the best they can manage is taking someone's coffee order. Pathetic.

>BUYING DIRECTLY THOUGH CS IS BUYING NAKED SHARES
So after finally DRS'ing all your shares into CS you vowed not to have to bother with that shit anymore. And you weren't alone. You can buy through CS. You can have CS buy a fixed amount every month, or every two weeks. So simple. Set it and forget it. You weren't alone.
So CS goes out and 'buys' those shares. And you think, well, shares held by individuals goes up right? Sure. And you think, well, shares held by by the DTCC/Cede&Co must therefore go down right? --WRONG-- Only when DRS'ing does C&C go through the custody chain to transfer a share and make sure appropriate compensation is doled out.
What? You think CS can just buy shares from some random whomever nobody and just decide unilaterally to deduct shares away from the account they 'totally swear' to have shares in?? Of course not. "Oh yeah, I have an account with anon, so that share you bought, just deduct it from his account lol". They can't do that with your account, they can't do it with C&C.
This is why there was a delay and such a fight over the 10-Q and DRS numbers. It's why the amount held by individuals 'barely moved'. The number reported can't exceed the total issued, and C&C won the argument for what their number was, so individuals hold what's left. Everything else bought by CS on your behalf with money they took, and money they handed over, are for effectively naked IOUs.
This is distinct from DRS'ing where a broker must actually go to the DTCC, hat in hand with a briefcase of money and negotiate for actual shares to actually transfer. No DRS, nothing 'real' ever happens. It's all naked IOUs and balance sheet shenanigans otherwise.
>ONLY BUYING THROUGH A BROKER AND DRS'ING THEM MAKES THE Cede&Co NUMBER GO DOWN

>>52241550