Dr. Byrne's CFRN Radio Interview - Stunning - The 30 Million Share Scam
He speaks frankly about the lawsuit, naked short selling, Wall Street, captured regulators, international crime syndicates, you name it.
He discusses the tactic of demonizing those critical of Wall Street, and the frustration of his adversaries at his lack of interest in their attacks.
Basically, he talks about everything anyone would want to know about the issues, and the size and scope of the problem - you name it, he covers it, coherently and convincingly. You can listen to it here, at CFRN. On that website there is also a series of radio interviews by Bud Burrell, who is extremely well versed on naked short selling and most every aspect of the situation, and an interview with Mark Faulk of the Faulking Truth, who has a great hour discussing the topic.
Go to the page, and the interviews are on the lower right hand side.
One of the comments Dr. Byrne made that stopped me cold was the calculation as to the number of fails at the DTCC. He indicates that his experts reviewed his NOBO and OBO sheets, and there are over 5 million naked short shares there, in addition to the 7 million legitimate short shares.
And then, bless his heart, he runs the calculation I would have run, and does it in precisely the way I would have - he discusses the DTCC's Larry Thompson's comment that 80% of the FTD's aren't accommodated by the Stock Borrow Program - and thus are likely "ex-clearing" fails. If that is the case, then that 5+ million FTD's at the DTCC is only 20% of the naked shorted shares, and OSTK has well over 30 million shares shorted, both legitimately, and illegally.
How is that possible, for a company on the SHO list? How could the SEC condone that sort of flagrant, in your face, obvious and overt stock manipulation? I was literally speechless when I heard Byrne discuss it.
NOTE: I had a telephone discussion with Dr. Byrne today, asking about the math, and whether he actually believed that was possible - 30 million or more shares short in OSTK - and he said that the emotional part of his heart doesn't think it is possible, as that would indicate a system so far out of control that it literally would be complete lawlessness. He had a hard time comprehending how that could be so. Rationally, he felt that the reports said what the reports said, but he is hopeful that he has something wrong. He also indicated that guess was his own, and not his experts' opinions - that was based on his own pencil to paper analysis of his Nobo and Obo reports.
Think about what that means, and consider the level of impunity which the bad guys must feel protects them, to keep selling OSTK short, brazenly and illegally, in spite of the suicidal impact of going in that big on a stock with insiders owning most of it. And consider what covering just the OSTK short will do to the entire network of bad guys, including their brokers - 30 million shorted shares, and nobody is really selling. Unreal.
And then consider that nobody is defending the company against this obviously highly predatory, illegal, and damaging practice - and consider what that says about the system, the market, and our future as a legitimate economy. Consider that the press has spent all their time attacking Byrne as a kook - and consider that the DTCC and the SEC won't tell anyone how big the FTD problem is, including in OSTK - hey, I know, if this is all BS, give us the numbers and prove it. Oh, wait, that would cause volatility. I guess now we know how much volatility, given that covering OSTK would literally take it to $500 or more - 170 days to cover. Astonishing.
Listen to the interview. This is priceless, and should be required listening by the Senate Banking Committee - particularly Senator Shelby, on whose watch this is occurring, and who has the capacity to stop this crap dead whenever he wants to.
Makes you wonder what is more important than safeguarding the integrity of our market system, huh?