Counterfeiting anything of monetary value in the United States is illegal. Yet shares of stocks involving hundreds or even thousands of companies are counterfeited on a daily basis without penalty. The governing body, the Securities and Exchange Commission (SEC), states that counterfeiting stock shares (also called Naked Short Selling) is NOT necessarily against federal securities laws.
This problem is many times worse than the Enron or Worldcom disasters, with as many as 7,000 businesses bankrupted and tens or hundreds of thousands of American citizen's investments being destroyed.
We ask, why is this crime being allowed to continue?
Fuego Entertainment Proudly Announces "Counterfeit Conspiracy 2" in front of the DTCC Building on July 29th.
Following two days of successful protesting in Washington DC and New York City, we are taking the protesting of the selling of Counterfeit Securities straight to the DTCC. Come join us as we protest in front of the DTCC building on July 29th.
(PRWEB) June 11, 2005 -- "We made a big impact on our government and on Wall Street with a small group of protesters this last Monday and Tuesday, we are planning a very large rally in front of the DTCC with hundreds of shareholders from several companies that have been devastated by naked short selling crimes", stated Hugo Cancio of Fuego Entertainment.
Naked short selling is actually the manufacturing and selling of counterfeit and fictitious shares to the investing public. Unlike the financial disasters of Enron and Worldcom, this crime is NOT being perpetuated by the companies themselves it is being perpetuated by a combination of brokers, market makers, clearing houses, hedge funds and the DTCC and all of its entities.
Counterfeiting anything of monetary value in the United States is illegal. Yet shares of stocks involving hundreds or even thousands of companies are counterfeited on a daily basis without penalty. This crime affects everybody in America. The counterfeiting of stocks is costing our country in many ways; jobs, retirement accounts, college fund savings, 401K's, rising inflation and all kinds of ways that the general public is not aware of.
After the stock market crash in 1929, Congress instituted the Securities Exchange Act of 1934 to make sure that the acts that led to this crash would never be allowed to happen again. The act of naked short selling has been against the law since this Act was put into law. However, on our own Securities and Exchange Commission's website, they state that "Naked short selling is not necessarily a violation of the federal securities laws or the Commission's rules". This statement can be found at the SEC's own website at http://www.sec.gov/spotlight/keyregshoissues.htm
The "Counterfeit Conspiracy" documentary being filmed today by Hugo Cancio and Fuego Entertainment, is history in the making. This documentary will begin to educate American's to the corruption being allowed to happen on a daily basis without the fear of enforcement or punishment.
"The illegal act of counterfeiting stocks is destroying America's financial backbone and ruining the chances for our children and grandchildren to inherit a strong country", stated director Hugo Cancio.
"Stand Up America" and take your country back from the criminals and terrorists. We cannot allow our government to even consider the possibility of putting Social Security funds into such a corrupt market. Please visit us at www.CounterfeitConspiracy.com
Legislation Against Naked Short Selling "Counterfeiting".
The SEC has given the Market Makers carte blanche to sell unlimited numbers of shares without making a corresponding buy. In the vernacular of the stock markets, this is called Naked Short Selling or NSS.
Please sign the petition to help put an end to this ILLEGAL activity!
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The Legislation Against Naked Short Selling "Counterfeiting" petition to Hugo Cancio was written by E. A. Johnson and is in the category Law Reform at GoPetition.