Don't you understand the theory, Sox? They continually roll over an ever increasing short position. The markers are stored in the warehouse or the brokerages...an IOU of sorts. 10's, maybe 100's of millions of IOU shares! FTD only applies if you have to play by the rules.
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All my posts are my own personal opinion and speculation. They should not be used as the basis for any investment decision. No, I am not Scottsmith.