Skip to comments.Audio: In A Broken System, You Must Be Your Own Central Bank, Sinclair Tells King World News
Posted on 12/09/2011 3:58:22 PM PST by Razzz42
Entire Audio interview of Jim Sinclair. (No transcript as of yet)
Key point: derivatives and other layered, highly, highly leveraged debt instruments now TAKE PRIORITY in bankruptcy over customer accounts in brokerage and clearinghouse accounts.
You just THINK you own those securities on your monthly statements!
You can ‘take delivery’ of those shares you own especially if you don’t trade them and are just sit waiting for a rainy day to cash them in. Better to get them in your name electronically or sent to you in a paper certificate form and keep in a safety deposit box.
Right now your broker owns your shares in ‘street name’ and can use them as collateral when you are not looking.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.