TY sooner.......
A little long but worth the read IMO....john3339 DIAMOND JEDI WARLORD
Re: Proboard servers having issues« Reply #16 Today at 7:00am »
Yesterday at 7:07pm, deeppockets wrote:
There is a backup. But if 90% of proboard servers go down like they did yesterday, chances are, the backup board will go down too.
This is a good reason that as a group, we need to discuss what would be acceptable to the majority now, rather than take the chance that when the payout comes, we can't discuss it at that time.
But that being said, I have my bail out number, and a bottom line number I don't want to go below.
Question is, what if they offer something south of that?
What rights and risks do we have to refuse their offer?
If they are covering the NSS position and frizz was right in saying he proved 2+ trillion naked shorts, then it's OUR ballgame, and we can hold out for as much as we want, just like an open market squeeze. To cover 2+trillion naked shorts, shortie has to buy nearly THREE TIMES the total authorized shares, of which us rank n file shareholders own and have certed three-fourths!
They would have to buy ALL of our shares...every last one...and STILL be in the hole significantly. At which point they would have to make an offer to re-purchase the air shares.
Those who couldn't get certs for one reason or another, will also be in the driver's seat, as long as their electronic markers don't just evaporate in the cyber shredder.
The truth is, regardless of what they might offer, no one can force anyone to agree to a sale price they don't like. That being said, I would not be surprised to see the Federal Government step in to cap the max settlement, to try to minimize the collateral damage a reverse-pillage might cause.
Hmmm...REVERSE-PILLAGE...I like the sound of that!
But if the government stepped in and tried to limit the settlement we got, "for the good of the country", it would be all over for the free enterprise system. No one would ever (at least for several generations) trust the markets again.
Look at it like this: They absolutely positively HAVE to have an apple...2+ trillion apples to be exact. And WE CMKXers posess ALL of the apples in existence. What price will they have to pay to get them? Their prices or our price?
Yeah, a bit off topic, but it was my thread anyway.
john
Follow-on: If Dr. D's intrinsic value calculations were in the ballpark for the claims we had, then we'd be looking at our losses being around $4 trillion dollars. At 2 trillion naked shorts + 800 billion AS, that would come to something less than $2.00 pps for shortie to cover, making us as "whole" as possible. (we wouldn't have the claims anymore, but we'd have the equivalent value of the claims with our shares cashed out.
You can argue the numbers, but based on adjacent properties, our claims held much value that can logically be justified. Dr. D's caluclations were figured on the conservative side as well. Even a dollar per share would be WELL under the intrinsic value estimate to make us whole again.
Currently, the big banks permitted to borrow from the FED's short-term lender window are borrowing everything the FED has to offer - every day. And they aren't lending to the lower-rung banks! They're amassing huge amounts of money, supposedly to cover their own exposures. I'm thinking the exposures they're covering include our naked short position...the company that wouldn't die.
If they get enough from the FED to offer us a dollar per share, I'll scream to high Heaven...all the way to my soon-to-be-lumpy mattress!
Fact is, the money IS being amassed every day, in spite of the market sell off. Fact is, we did own the claims surrounding the old DeBeers claims, with hundres of proved anomalies. Fact is, extrapolation of property values is an accepted way of valuating land. Fact is (according to frizz), there are 2+ trillion uncovered naked shorts in addition to the 600 + billion certified real shares in existence. Therefore, settlement has to occur to "make the pot right".
The credit markets will continue to be frozen at the big bank levels until settlement takes place, at which time, there will be massive conspicuous consumption by 40,000+ nouveau riche, to get the economy moving again.
The difference will be the names of the top players. I can see the bigger regional banks - the ones that will be used by the retailers who are visited by US, as being the new banks allowed to utilize the FED discount window. The old names with the exception of two, perhaps three, as all going away after settlement.
The new day is about to dawn. The only guestion will be, how long to the dinosaur-crooks hang on before someone steps on their fingers and they drop into the abyss.
Short-term guess...worse times to come. Long-term guess...vindication and mega-wealth for CMKXers. (don't forget your pay it forward plans!)
imo, with some WAGs thrown in for good measure.
john
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