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Gold/Mining/Energy : IPMG - International Precious Minerals Group
IPMG 0.00010000.0%Mar 7 3:00 PM EST
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To: pqrs who wrote (458)12/19/2005 10:55:51 AM
From: rrufff  Read Replies (1) of 799
 
The more I read about this topic, the more I fear that there is no known answer. You will see written regs that say shares that are paid for can't be borrowed. So, cash and retirement accounts can't be used for borrows.

Ameritrade has a very simple process. I have called them and they have confirmed to me in writing that my shares are not available for borrowing even though I have them in a margin account.

Other brokers have their own variant but I suggest you get whatever they do in writing.

Now, to make your headache worse, if all shares are in DTCC and unidentified, is there really any guarantee that MY shares are not being lent? As one speaker at the recent conference on naked shorting commented, and I paraphrase, it's like going to a bank and saying, "ah, there is my dollar. I don't want it lent to a borrower."

That's why this whole thing needs to be made more transparent and the games and manipulation exposed.
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