T O P
Superstonk_QV

[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || Join the [Superstonk Discord Server](https://discord.gg/hZqWV2kQtq) ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)


1MMM0

Turn the IOUs into real shares on the GME company ledger


Odinthedoge

All ledgers are not created equal


AmazingPrune2

Becomes the same when you drs.


Odinthedoge

Settle the ledgers. Then move them to a decentralized/public ledger. Settle first, then burn.


ljsweet

Ook


neonboyfriend

You best be DRSin ur shares homies


Odinthedoge

force the issue


HellCatOG

Do I sense some Seinfeld [reservation](https://www.youtube.com/watch?v=4T2GmGSNvaM) talk?


Odinthedoge

absolutely it's the perfect analogy don't ya think?


HellCatOG

Oh yeah, totally agreed. I also just happened to be re-watching Seinfeld and figured that it was done intentionally. Right on the nose.


Odinthedoge

Have you ever watched curb your enthusiasm?


HellCatOG

Yep, though I don't think I actually finished the last few seasons. Another great show - will have to put that on the list. Love the writing but also the sort of adlib style vs. how tight the writing is in Seinfeld.


Odinthedoge

Me too, its amazing, they are making a new season as well. I often channel my inner Larry he helps me deal with absurd situations. Just ask yourself what Larry would do.


HellCatOG

Yeah for sure, he can articulate a lot of everyday struggles you don't really think about perfectly most every time. Another show w/ great writing is Arrested Development, worth a watch as well IMHO.


Odinthedoge

Thanks ill check it out sometime. I know of it but I've never watched.


HellCatOG

That or Community are my all-time favorites. They do take several episodes to find their stride / hone their characters but both are very funny with great writing.


Odinthedoge

1 extra show to watch was already enough, community may need to wait until the next life :)


tcelfertehconjurer

Anyone can TAKE a reservation.. it's the HOLDing that's the important part...


Odinthedoge

Also the delivering!


JCStuff_123

Yes. Start the stock run for real shares. Just like a bank run with gold.


Odinthedoge

Know the [different methods of stock ownership](https://www.sec.gov/reportspubs/investor-publications/investorpubsholdsechtm.html), choose what is right for you, dyor!


crypto_crypto_guy

I like, how he "thinks" you're right. Like, why is it so hard to know something for sure in this rigged market. Even if you're a pro. DRS your shit. We are at 54% right now!


Odinthedoge

He doesn't want to publicly endorse drs and is probably feeling some kind of outside pressure to just kinda pump the brakes on drs, that's just my speculation though.


eudezet

Dave really thinks it’s an „if”, meanwhile I have it on good authority that it’s a „when”


Odinthedoge

I think Dave is receiving heat and is perhaps not bold enough to endorse drs publicly.


Pitiful_Cover_580

If I am understanding it correctly, they are not on the hook for DRS as the DTC told them to do it, so DTC booked it. When a DRS goes through the DTC is told and then CS takes it off their book. Only way the broker is responsible is if they never purchased your shares to begin with an then when they told to stock split they continue with in house bullshit an there is no shares on DTC book.


Odinthedoge

>Only way the broker is responsible is if they never purchased your shares to begin with an then when they told to stock split they continue with in house bullshit Yes, that's why "it's **ONLY** an issue if the shares get DRS'd"


HypeAsIType

This should be higher. The enemy is the DTCC, not brokers if they’re following the rules.


broose_the_moose

Why not both? Fuck the brokers.


HypeAsIType

Meh I’m one of those guys that would love to see GME have correct price discovery and take off, but would prefer not to take down the entire system, economy, and create financial chaos while simultaneously destroying peoples retirements and livelihood. One of those don’t dance type people. I’m not saying I don’t want the corruption and self regulation gone; but I feel that should be doable without total destruction. Presumable, not all brokers are against GME and “bad guys.” Some are just running a business buying and trading stocks under the legal power/control of the DTCC (again being the one that is the corrupt self regulated company). But to each their own!


broose_the_moose

I don’t see it quite the same. I want the system to completely implode (and it will) to pave the way for much stronger and trust-minimized decentralized systems. I also want accountability of the people who have been ruthlessly screwing over and taking advantage of others and don’t believe this would happen with the smooth transition that you’re describing. Plus at the end of the day, people will have to lose their jobs - what is the real purpose of having millions of bankers/etf managers/phone receptionists/fast food workers/hospital management/real estate agents/etc… when these jobs have no place in the AI driven decentralized society of the future.


Odinthedoge

> I also want accountability of the people who have been ruthlessly screwing over and taking advantage of others and don’t believe this would happen with the smooth transition that you’re describing So, you need to settle the ledgers first, then create the new system. Don't burn it all down and then rebuild, settle the ledgers, let the current system deliver the moass/justice and THEN switch to the new blockchain systems being built by gamestop ftx and many many others.


broose_the_moose

Settling the ledgers is what destroys the system. What you’re describing is impossible.


Odinthedoge

Well, someone is getting destroyed for sure, but life will go on.


Pitiful_Cover_580

Until the system is destroyed, there will be no innovation. They purposely kneecap the market functions to stay relevant.


Odinthedoge

This is my feeling too, and I never subscribed to the angry crime posts either... "our markets are the envy of the world" supposedly, and it's that way ONLY because he/she/they who sell what isn't theirs MUST buy it back. Relying on the market to deliver a "moass" while calling into question the legitimacy of that market is a tad counterproductive imho.


canadadrynoob

Through Cede & Co. the DTCC owns the share certificates and can exercise ownership rights over beneficiary broker shares that are derived from the share certificates. "You don't own your shares" is quite literal. Based on DD we know DTCC has the ability to reverse beneficiary share transactions and there's nothing brokers can do about it. That's the nuclear option but it exists.


ShowMe__PotatoSalad

Thanks Big D


Odinthedoge

BIG d swingin knowledge


MyGT40

From my TDA account, I did (they did) DRS the shares


Odinthedoge

Ditto, took about 4 weeks last time.


Fluid_Cupcake_7185

What’s Dave Lauer’s cell phone number. I wanna text him some “photos”!


crypto_crypto_guy

7185


Express-Newspaper806

420-6969 I wonder if I can actually get that number now that I think about it


Odinthedoge

Hopefully they're tasteful


Fluid_Cupcake_7185

Are purple circles tasteful?


Odinthedoge

Absolutely


Simp1eJack_

This has always been the way. We’ve been taking IOUs and turning them into real shares for a long time now. Just keep doing it.


Odinthedoge

Dollar cost average and hold? Is it really that easy? :)


Simp1eJack_

Seems like it!


biernini

>[Brokers] don't know how to receive shares from the DTC. It's not that they don't know how, it's that it's not part of their Operational Arrangement (OA) with the DTC. The equity that the DTC administers in a depository account for brokerages must be a "fungible bulk" to be eligible for their Book-Entry-Only (BEO) services. It's literally an amorphous blob that has a volume of 'x'. So when beneficial owners of a slice of that amorphous blob held with a brokerage then DRS their shares they're instructing the DTC via brokerages to reduce the amorphous blob whatever amount is being DRS'd. It'll eventually be a huge problem for the DTC as we get closer to 100% registered with Computershare.


Odinthedoge

And it'll be an issue for the brokers as well, because they created shares instead of receiving shares from the "blob" when you drs it essentially forces your broker to buy the shares for withdrawl into your computershare account? ... "itll only be an issue if they get DRS'd"


biernini

Yeah, I'm not sure which Peter pays what Paul to get bona fide equity out of the murky darkness that is the DTC equity administration system. The DTC is owned by the members so ultimately they all pay by losing their little slice of fungible, fractional reserve fuckery to steal from "Dumb Money" with every DRS'd share.


Odinthedoge

they're all stuck in a "citadel" together!?


biernini

That's one way to look at it! They made their bed, apes are going to make sure they sleep in it!


Odinthedoge

Well, if it's a siege, it's hard tellin how long it will be, but someone's losing ground here.


Fantastik-Voyage

Someone in here has a direct line of communication with D Lauer.?.....why isn't OP publishing DD'S !! I mean yea a screenshot is nice but like.....this is like ummm nothing new.....we've always known DRS is the way.


Odinthedoge

Send him a dm he might respond!


apexmachina

Financial Alchemy is transmuting IOUs into DRS shares. 💙🏴‍☠️Power to the players💙🏴‍☠️


Odinthedoge

Gandalf!


Otakutech2020

Seinfeld reference…. Niiiice!


Odinthedoge

If the shoe fits!


Serious_Package_473

This post is such a logical fallacy... The multiplied fake shares didnt change the situation a bit. Lets say theres a stock that has 20 shares with the brokers but officialy the DTC only has 10, the rest are fake. So you need to DRS 10 shares, thats 50% of the shares people hold with brokers to make them run out of shares. Now the stock makes a 4:1 split via dividend. The DTC gets 30 additional shares for the 10 they officialy have. The brokers simply multiply all shares by 4. Now brokers have 80 shares and DTC 40. So now to make them run out of shares you need to DRS 40, so 4x the shares or 50% of what people hold with brokers. Its literally no difference


Odinthedoge

>So now to make them run out of shares you need to DRS 40, so 4x the shares or 50% of what people hold with brokers. Its literally no difference I wasn't making any attempt to proclaim about numbers or percentages of drs, I'm just sharing that "It'll only be an issue if the shares get DRS'd"


Serious_Package_473

Look at the comments, everytime this gets reposted people believe that now since they have 4x the ammount of fake shares they will cause issues for the brokers 4x as fast


Odinthedoge

Oh, yeah I can see that, but even if most are mistaken about that part, the important part to understand is that the way to force the issue is to drs. The misconceptions aside, the message is clear.


Allaboardthejayboat

I just....I really like u/dlauer.


Odinthedoge

I like him too.