Go read Money Stuff before you spread more misinformation about how the financial system works. There are no counterfeit shares, ownership is obvious except for cases like voting (because a short can pay a negative dividend but can't perform a negative vote), settlement is not error-prone and is slow on purpose (Russia tried real-time settlement and went back to T+2), HFT is literally just a service provider doing inter-temporal mediation between buyers and sellers rather than some evil money-stealing machine. Front-running is not real, naked shorting is super illegal with very few exceptions. If you can't tell me what part of Regulation SHO governs naked shorting, what the bona-fide market maker exception is and when they are required to fulfill a FTD, then you probably shouldn't be talking about this confidently in public.