-- Posted Friday, 1 August 2008 | Digg This Article
| Source: GoldSeek.com
GoldSeek.com thanks Charleston Voice and George Kilnapp for contributing to and inspiring this post:
A tremendous number of outraged citizens have let the SEC know what they think of the SEC permitting the ongoing illegality of naked shortselling:
http://sec.gov/comments/s7-20-08/s72008.shtml
Write your own and send the email letter to the following address:
rule-comments@sec.gov
...and put in the subject "S7-20-08" exactly, which is their internal moniker for the NSS (Naked Short Selling) rule.
Then you wait five to seven days for them to post it.
The whole world is coming to realize that our markets are rigged by a select cabal, and we must start cleaning it up - November will be our best opportunity to follow through.
Bob Chapman of The International Forecaster also speaks extensively about the issue in his most recent snippets posted at http://news.goldseek.com/InternationalForecaster/1217435828.php
GoldSeek.com would also like to remind readers of Jim Sinclair’s recent campaign launched to help combat mining companies fight against the practice:
Dear CIGAs,
I respectfully request that each member of the JSMineset community send this missive to the management of their precious and base metals junior investment company. Please follow up on it to be sure it has been reviewed.
Strength In Numbers
The junior producer and exploration and development companies need to consider the formation of a Chamber of Mines for this section of the industry.
This Chamber should be free of any individual company agenda, free of fees and other interferences with the singular intention of protecting our shareholders from being attacked by those in the shadowy part of finance.
There are close to 2000 companies in this part of the industry, many of which are experiencing the same extreme nuisances.
The naked gold short seller is an entity engaged in a criminal act with a goal of doing serious injury for the purpose of profit and is therefore a major target in terms of civil liability. The short and naked short pool operations are exactly the same but more apt to be a conspiracy to injure slightly then become subject to RICO statutes.
The job of this working Chamber of Mines as a singular unit is to pull these criminals out of the shadows into the light of day.
No matter how well they feel they are hidden there is always a paper trail going back to the perpetrator in this financial world.
Certain financial areas of secrecy in many cases do not protect the spoils of criminal activities. This may be proven soon at UBS where an officer is under arrest in the USA and is due to go to court shortly.
It does not mean anything that neither regulators nor exchanges care about the naked short or short selling pools, regardless of whether they are naked or not. If the stockholders and the company who’s values have been injured initiate civil proceedings, discovery will be full of legal opportunity. You cannot erase the paper trail that exists to every transaction.
My request is simple:
Contact the management of every junior precious metals producer, exploration and developer, asking them to contact Editor Dan at information@jsmineset.com so that the Chamber can take form.
There is no hidden agenda, no money to be collected, and no desire to stroke egos and no desire for private corporate information. I do not wish to be anything but a member. Let the organization elect its officers so we can act as one. We can speak as one. We can win as one, but we are weak when scattered as the industry is now. Organize and we are a legion. Expose the perpetrators and then it is all over. The data is there. It can be organized and it can be dissected, yielding the evidence trail of those who wish to hurt, sometime simply because they are mean, sometimes for illicit profits.
Add to that that sociopaths mistreat their associates and employees by nature. No looking may be required. It might just happen to come over the transom, even though we do not invite that.
You stockholders must push your management hard. Personally there is nothing that I will NOT do in order to protect both my and my investors’ interests.
I herewith dedicate my life, my fortune and all that I am to the identification of the perpetrators and their conduits used. Those sociopaths that take joy by inflicting severe injury for profit by conspiracy and the use of dirty tricks must be the hunted of nearly 2000 company’s determined managements and their more than 500,000 very angry stockholders.
There is only one way to defend stockholders, which is through the organization and strategy of a major offensive. Forget attorneys at this point. Regulators are of no help. A Chamber of Mines acting together can prevail.
I will even if I must go it alone.
Together we are legion. Alone and looking the other way you are a victim. I have never been a victim. No one depending on me will be a victim.
There is NOTHING I will not do to protect those that depend on me. I am livid. Enough is enough.
We will add risk to the bad guys. That proposition you and they can depend on.
Your friend,
Jim Sinclair
Also, some recent news stories on the subject:
SEC plans broader rules to tackle naked short selling MarketWatch
Ban on ‘naked short selling’ worries firms InvestmentNews
SEC extends restrictions on short-selling The Associated Press
SEC Short-Sale Rule Gets Negative Reviews Wall Street Journal
Protection For All Forbes
Finally, two other sites that have been battling this criminal behavior for at least 3 years:
