If you own stocks this is a MUST READ!
DTCC…what is that? Most never hear of this company. Stands for The Depository Trust & Clearing Corporation (DTCC) Here in their own words is what they do:
DTCC's National Securities Clearing Corporation (NSCC) clears and settles virtually all broker-to-broker equity, corporate and municipal bond and unit investment trust (UIT) transactions in the U.S. markets, advancing new initiatives and driving development of products and services that mitigate risk, reduce costs and enhance processing efficiencies for market participants. (source: http://www.dtcc.com/clearing-services/equities-clearing-services)
Basically that means (at least one of their responsibilities) it is a clearing house and that means it processes all the trades at the stock exchanges each day…billions if not trillions daily. Sounds good…right? Needs to be done…right?
Before the DTCC, there was the DTC and NSCC…and before that traders would work a day or two and then process these trades manually themselves, using clerks, and runners to go back and forth. As population grew and amount of daily trades grew, it was obvious another solution had to be found. How kind of those folks that started this DTCC.
Think it’s your government? Nope…just like the Federal Reserve…it is ANOTHER PRIVATE corporation. Believe me, this is not about PUBLIC vs. PRIVATE as both are important where it is important, but this is about conflict of interest, secrets, and pure unadulterated GREED.
So…who owns the DTCC? Not sure…not public information. I can confidently say though, that it is all related back to the entity that has started all this mess…THE BANKS…FEDERAL RESERVE and other central banks. Do they actually provide the service stated…NO! Not all of it anyway. Every single day there are trades that are considered FAILURE TO DELIVER….(source: http://www.dtcc.com/charts/daily-total-us-treasury-trade-fails#qna) as you can see by the DTCC’s own website.
So…when you buy a share of stock…it is put in a statement to show your purchase, so you THINK you own it, but all you hold is a piece of paper….DANG, there’s that piece of paper thing again…just like the US Dollar or any other FIAT (non-backed) currency. It is not always actually purchased. Oh my! The volume is immense. So who owns it? Well...some stocks are purchased, not all, so think musical chairs…last one standing after running around is the loser. In this case…I imagine there will be a whole lot of losers.
Investigate. Learn. Watch your 6. NOONE cares more about your money than you...NOONE!
I will add that an amazing source of truth on this subject is
Bix Weir of (http://www.roadtoroota.com)
He has a very interesting theory (hypothesis?) and it’s worth checking out. He has done a ton of investigation on the subject of the DTCC and the Federal Reserve, and other related subjects. Worth a look! No, I don’t know him…just listen to him and read his stuff!
(image credit: mine...birds swarming..thought appropriate as there are so many, will they all find a "chair"?)
I regularly listen to Bix Weir. I've subscribed to his newsletter.
Yes, his DTCC info is very important to anyone who holds stock.
Thanks for sharing here.
Thank YOU! It would be nice if Bix is correct and the "good guys" win! It will still be difficult! :)