Discussion in 'Tin Foil Hat Lounge' started by Tango3, Mar 9, 2009.

  1. Tango3

    Tango3 Aimless wanderer

    Iknow you've done work on the "macro structures our underlying our economy"
    any of this true?( found on another board):

    You guys are barking up the wrong tree IMHO.. You are barking at the right thing, but its not in the tree that you are barking at..

    The Constitution is long dead. It is even copyrighted. Will come a point you will be in trouble for using the words without permission. That being said it is an admirable document. But its history, nothing but an illusion..

    Its owner is the Depository Trust Corporation, located at 55 Waters Street NY,NY. The building is known as "the Tower of Power", it is aptly named.

    This is the richest corporation in the world, its time you heard of it..

    Its corporate holdings include the United States of America, which in turn holds the State of....., City of.... and so forth.

    Yup, our government is but a corporate subsidary of Depository Trust Corporation..

    Depository Trust Corporation also hold a financial company, known as the Federal Reserve Bank Corporation. This company controls and manages all the finances in the corporation, thru the Federal Reserve Note..

    Depository Trust Corporation also has a legal Department, known as the American Bar Association, which is responsible for creating and administrating all the corporate bylaws..

    Of course Depository Trust Corporation has a collections department, known as the Internal Revenue Service. Im sure I dont need to explain this..

    Then there is the CEDE corporation, also a Depository Trust Corporation holding. CEDE owns all unregistered stocks and securities. Think you own your stock?? Think again, if its not in your hand with your name on it CEDE owns it.. It has over 20 trillion dollars in holdings, yet, as it is a private company, you have probably never heard of it??

    All these corporate entities, except the United States corporation, are headquarted in the Tower of Power, 55 Waters Street NY,NY..

    All matters of policy emanate from the Tower of Power, as they own it. The United States corporate administration, located in DC, is just a bunch of clerks tht make the dictates from the Tower reality in the United States...

    You need to bark at the owners of the United States, its corporate holder, not the poor clerks and visible puppets.. They are there for that purpose though..

    While you are barking at the clerks and puppets the true masters, the owners, are merely laughing at your impotence and stupidity...

    Wanna make a change?? 55 Waters Street....

    You are owned. If you continue to accept this it is reality.

    If I walk up to you and inform you that I am your master, and you say "yessir massa, what is your wish" I do in fact own you.. If you say "WTF!!?? You dont own me!!" I certainly dont..

    But by using their products, following their every mandate, you are owned...

    Might as well say "yessir massa", because in effect you are.. You may say you are free but you act the part of a owned slave in everyway except a few traitorous mumbling...

    I say bark at the right tree...
  2. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    The problem with the internet, is that most times we will find stuff like this and it reminds us why humans are being exterminated like cockroaches.

    I think that this type of disinformation began with a cynical joke, got twisted by some severely undereducated goon, passed on to some religious fanatic who has spent a little too much time swimming in the family gene pool, and then copied and pasted to your favorite forums, etc...

    The Federal Reserve IS in fact a privately owned and run Corporation, with its investors safely residing all over the globe; the IRS is also privately owned and managed, and neither have any constitutionally delegated authority to operate -however, they are empowered by our very own Congress under defacto martial law issued by FDR (Emergency War Powers) through USCA Title 12, Section 95(b), authorizing Presidential Proclamations 2038-2040 of March 6-9th, 1933 (and the Bank Holiday of March 6, 1933), *see Black's Law Dictionary, 6th Ed.* which grants these banks the authority to conduct banking business within the jurisdiction of the United States, which was altered under Maritime Law (Admiralty), whereas Common Law and our Constitution became permanently placed on hold status (Emergency of War). There are some additional theories which claim that the US has been operating under EWP since the time of Lincoln, but rather than sift through hundreds of years of paper trails, the evidence is held within our more recent public records, such as Senate Report 93-549 (1973, if memory serves), and the Presidential Proclamations and United States Code I listed earlier.

    As for the rest, I can only say that it is unadulterated hogwash, and not worth your time.
  3. Seacowboys

    Seacowboys Senior Member Founding Member

    The Depository Trust & Clearing Corporation (DTCC), headquartered at 55 Water Street in New York City, is the world’s largest post-trade financial services company. DTCC was established in 1999 as a holding company to combine The Depository Trust Company (DTC) and National Securities Clearing Corporation (NSCC). It was set up to provide an efficient and safe way for buyers and sellers of securities to make their exchange, and thus "clear and settle" transactions. It also provides central custody of securities.
    User-owned [1] and directed, it automates, centralizes, standardizes, and streamlines processes that are critical to the safety and soundness of the world’s capital markets. Through its subsidiaries, DTCC provides clearance, settlement, and information services for equities, corporate and municipal bonds, unit investment trusts, government and mortgage-backed securities, money marketinstruments, and over-the-counter derivatives. It also manages transactions between mutual funds and insurance carriers and their respective investors.
    In 2011, DTCC settled the vast majority of securities transactions in the United States, close to $1.7 quadrillion in value. DTCC has operating facilities in the New York metropolitan area, and at multiple locations in and outside the U.S.



    Stocks held by DTC are kept in the name of its partnership nominee, Cede & Co.[2] Not all securities are eligible to be settled through DTC ("DTC-eligible").

    Established in 1973, The Depository Trust Company (DTC) was created to alleviate the rising volumes of paperwork and the lack of security that developed after rapid growth in the volume of transactions in the U.S. securities industry in the late 1960s.
    Before DTC and NSCC were formed, brokers physically exchanged certificates, employing hundreds of messengers to carry certificates and checks. The mechanisms brokers used to transfer securities and keep records relied heavily on pen and paper. The exchange of physical stock certificates was difficult, inefficient, and increasingly expensive.
    In the late 1960s, with an unprecedented surge in trading leading to volumes of nearly 15 million shares a day on the NYSE in April 1968 (as opposed to 5 million a day just three years earlier, which at the time had been considered overwhelming), the paperwork burden became enormous.[3][4] Stock certificates were left for weeks piled haphazardly on any level surface, including filing cabinets and tables. Stocks were mailed to wrong addresses, or not mailed at all. Overtime and night work became mandatory. Turnover was 60% a year.[5]
    To deal with this large volume, which was overwhelming brokerage firms, the stock exchanges were forced to close every week (they chose every Wednesday), and trading hours were shortened on other days of the week.
    Two methods were used to solve the crisis:
    The first was to hold all paper stock certificates in one centralized location, and automate the process by keeping electronic records of all certificates and securities clearing and settlement (changes of ownership and other securities transactions). The method was first used in Austria by the Vienna Giro and Depository Association in 1872.[6]
    One problem was state laws requiring brokers to deliver certificates to investors. Eventually all the states were convinced that this notion is obsolete and changed their laws. For the most part, investors can still request their certificates, but this has several inconveniences, and most people do not, except for novelty value.
    This led the New York Stock Exchange to establish the Central Certificate Service (CCS) in 1968[1] at 44 Broad Street in New York City.[7] Anthony P. Reres was appointed the head of CCS. New York Stock Exchange President Robert W. Haack promised: "We are going to automate the stock certificate out of business by substituting a punch card. We just can't keep up with the flood of business unless we do."[8] The CCS transferred securities electronically, eliminating their physical handling for settlement purposes, and kept track of the total number of shares held by NYSE members.[9] This relieved brokerage firms of the work of inspecting, counting, and storing certificates. Haack labeled it "top priority," $5 million was spent on it,[10] and its goal was to eliminate up to 75% of the physical handling of stock certificates traded between brokers.[11] One problem, however, was that it was voluntary, and brokers responsible for 2/3 of all trades refused to use it.[12]
    By January 1969, it was transferring 10,000 shares per day, and plans were for it to be handling broker-to-broker transactions in 1,300 issues by March 1969.[13] In 1970 the CCS service was extended to the American Stock Exchange.[14] This led to the development of the Banking and Securities Industry Committee (BASIC), which represented leading U.S. banks and securities exchanges,[15], and was headed by a banker named Herman Beavis, and finally the development of DTC in 1973,[16] which was headed by Bill Dentzer, the former New York State Banking Superintendent.[17] All the top New York banks were represented on the board, usually by their chairman. BASIC and the SEC saw this indirect holding system as a "temporary measure," on the way to a "certificateless society."[18]
    The second method involves multilateral netting; and led to the formation of the National Securities Clearing Corporation (NSCC) in 1976.
    In 2010, Robert Druskin was named Executive Chairman of the company, and in July 2012 Michael Bodson was named President andChief Executive Officer.
    In 2008, The Clearing Corporation and the Depository Trust & Clearing Corporation announced CCorp members will benefit from CCorp's netting and risk management processes, and will leverage the asset servicing capabilities of DTCC's Trade Information Warehouse for credit default swaps (CDS). [19][20] [21][22]
    On Thursday 1 July 2010, it was announced that the DTCC had acquired all of the shares of Avox Limited, based in Wrexham, North Wales. Deutsche Borse had previously held over 76% of the shares.
    Controversy over naked short selling

    This section may require copy-editing.

    Several companies have sued the DTCC, without success, over delivery failures in their stocks, alleging culpability for naked short selling. Furthermore, the issue of the DTCC's possible involvement has been taken up by Senator Robert Bennett and discussed by the NASAA and in articles. disagreed with by DTCC—in the Wall Street Journal andEuromoney Magazine[clarification needed awkward sentence structure].[2][3] The DTCC contends that the suits are orchestrated by a small group of lawyers and executives to make money and draw attention from the companies' problems.[3]
    Critics blame DTCC as being in charge of the system where it happens, say that DTCC turns a blind eye to the problem, and that the Securities and Exchange Commission has not taken sufficient action against naked shorting.[3] DTCC says that it has no authority over trading activities, cannot force buy-ins of shares not delivered,[4] and suggests that naked shorting is simply not widespread enough to be a major concern. "We're not saying there is no problem, but to suggest the sky is falling might be a bit overdone," DTCC's chief spokesman Stuart Goldstein said. The U.S. Securities and Exchange Commission (SEC), however, views naked shorting as a serious enough matter to have made two separate efforts to restrict the practice.[3] The DTCC says that the SEC has supported its position in legal proceedings.[4][5][6] DTCC General Counsel Larry Thompson calls the claims that DTCC is responsible for naked short selling "pure invention."[6]
    In July 2007, Senator Bob Bennett, Republican of Utah, suggested on the U.S. Senate floor that the allegations involving DTCC and naked short selling are "serious enough" that there should be a hearing on them.[7] The committee's Chairman, Senator Christopher Dodd, indicated he was willing to hold such a hearing.[7] However, no hearing was ever held, and both Sen. Bennett and Dodd are no longer in the Senate, so any possible investigation seems moot at this point, and no further action on naked short selling is anticipated. The North American Securities Administrators Association, representing state stock regulators, filed a brief in a suit against the DTCC, arguing against federal preemption as a defense to the suit. NASAA said that "if the Investors’ claims are taken as true, as they must be on a motion to dismiss, then the entrepreneurs and investors before the Court have been the victims of fraud and manipulation at the hands of the very entities that should be serving their interests by maintaining a fair and efficient national market.".[8] The Whistler suit was later dismissed by the courts.
    Critics also contend that DTCC and SEC have been too secretive with information about where naked shorting is taking place.[3] DTCC says it has supported releasing more information to the public.[4]

    The DTCC has several subsidiaries:
    • The Depository Trust Company (DTC) – The original securities depository.[23][24]
    Established in 1973, it was created to reduce costs and provide efficiencies by immobilizing securities and making "book-entry" changes to show ownership of the securities. DTC moves securities for NSCC's net settlements, and settlement for institutional trades (which typically involve money and securities transfers between custodian banks and broker-dealers), as well as money market instruments. In 2007, DTC settled transactions worth $513 trillion, and processed 325 million book-entry deliveries. In addition to settlement services, DTC retains custody of 3.5 million securities issues, worth about $40 trillion, including securities issued in the US and more than 110 other countries. DTC is a member of the U.S. Federal Reserve System, and a registered clearing agency with the Securities and Exchange Commission.
    • National Securities Clearing Corporation (NSCC) - The original clearing corporation, it provides clearing and serves as the central counterparty for trades in the US securities markets.[25]
    Established in 1976, it provides clearing, settlement, risk management, central counterparty services, and a guarantee of completion for certain transactions for virtually all broker-to-broker trades involving equities, corporate and municipal debt, American depositary receipts, exchange-traded funds, and unit investment trusts. NSCC also nets trades and payments among its participants, reducing the value of securities and payments that need to be exchanged by an average of 98% each day. NSCC generally clears and settles trades on a "T+3" basis. NSCC has roughly 4,000 participants,[26] and is regulated by the U.S. Securities and Exchange Commission (SEC).
    FICC was created in 2003 to handle fixed income transaction processing, integrating the Government Securities Clearing Corporation and the Mortgage-Backed Securities Clearing Corporation. The Government Securities Division (GSD) provides Real-Time Trade Matching (RTTM), clearing, risk management, and netting for trades in US Government debtissues, including repurchase agreements or repos. Securities transactions processed by FICC's Government Securities Division include Treasury bills, bonds, notes, zero-couponsecurities, government agency securities, and inflation-indexed securities. The Mortgage-Backed Securities Division provides real-time automated and trade matching, trade confirmation, risk management, netting, and electronic pool notification to the mortgage-backed securities market. Participants in this market include mortgage originators, government-sponsored enterprises, registered broker-dealers, institutional investors, investment managers, mutual funds, commercial banks, insurance companies, and other financial institutions.
    • DTCC Solutions – DTCC’s subsidiary delivering information-based and business processing solutions[clarification needed] to financial intermediaries globally, such as Global Corporation Action Validation Service (GCA VS) and Managed Accounts Service.[29]
    GCA VS simplifies announcement processing by providing a centralized source of "scrubbed" information about corporate actions, including tender offers, conversions, stock splits, and nearly 100 other types of events for equities and fixed-income instruments traded in Europe, Asia-Pacific, and the Americas. In 2006, GCA VS processed 899,000 corporate actions from 160 countries. Managed Accounts Service, introduced in 2006, standardizes the exchange of account and investment information through a central gateway.
    • DTCC Learning – Provides financial, technology, and career training and educational services to the global financial industry.[30]
    • Loan/SERV - Provides services to loan syndicates and agents.
    It provides automated matching and confirmation services for over the counter (OTC) derivatives trades, including credit, equity, and interest rate derivatives. It also provides related matching of payment flows and bilateral netting services. Deriv/SERV's customers include dealers and buy-side firms from 30 countries. In 2006, Deriv/SERV processed 2.6 million transactions.
    • EuroCCP – European Central Counterparty Limited (EuroCCP) is the European subsidiary of DTCC that provides equities clearing services on a pan-European basis. Headquartered in London, EuroCCP is a UK-incorporated Recognised Clearing House regulated by the UK’s Financial Services Authority (FSA).
    EuroCCP began operations in August 2008, initially clearing for the pan-European trading platform Turquoise. EuroCCP has subsequently secured appointments from additional trading platforms and now provides central counterparty services for equity trades to Turquoise, SmartPool, NYSE Arca Europe and Pipeline Financial Group Limited. EuroCCP clears trades in more than 6,000 equities issues for these trading venues. In October 2009 EuroCCP began clearing and settling trades made on the Turquoise platform in 120 of the most heavily-traded listed Depositary Receipts. Citi Global Transaction Services acts as settlement agent for trades cleared by EuroCCP. EuroCCP now provides clearing services in 15 major national markets in Europe: Austria, Belgium, France, Denmark, Germany, Ireland, Italy, Finland, Netherlands, Norway, Portugal, United Kingdom, Switzerland, Sweden and Spain. Trades are handled in seven different currencies: the Euro, British Pound, U.S. Dollar, Swiss Franc, Danish Krone, Swedish Krona, and Norwegian Krone.
    Omgeo is a central information management and processing hub for broker-dealers, investment managers, and custodian banks. It provides post-trade, pre-settlement institutional trade management solutions[clarification needed], processes over one million trades per day and serves 6,000 investment managers, broker/dealers, and custodians in 42 countries.

    Euroclear (in Brussels, Belgium) and Clearstream (in Luxembourg) are the second and third largest central securities depositories in the world.

    1. ^ Time magazine, Wall Street: Attack on the Snarl, May 24, 1968 Accessed 20 Oct 2009
    2. ^ Wall Street Journal
    3. ^ a b c d e Emshwiller, John R., and Kara Scannell (July 5, 2007). "Blame the 'Stock Vault'?". The Wall Street Journal.
    4. ^ a b c "DTCC Responds to The Wall Street Journal article, "Blame the 'Stock Vault?'"". Depository Trust & Clearing Corp.. 2007-07-06. Retrieved 2009-09-09.
    5. ^ Drummond, Bob (August 4, 2006). "Naked Short Sellers Hurt Companies With Stock They Don't Have". Retrieved 2007-12-25.
    6. ^ a b "DTCC Chief Spokesperson Denies Existence of Lawsuit". May 11, 2004. Retrieved 2007-12-25.
    7. ^ a b "Senator Bennett Discusses Naked Short Selling on the Senate Floor," Website of Senator Bennett, July 20, 2007, accessed 32-2-2008
    8. ^ "Amicus brief" (PDF). North American Securities Administrators Assn.. 2007-03-19. Retrieved 2009-09-09.
  4. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    And thanks to Sea, we now have some more info on DTC and the Securities and Exchange Commission. Keep in mind, no matter how this financial quagmire is assembled, the root of the problem has always rested with the system of government which WE, the People have empowered and permitted to exist through indifference.

    "Banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."- Thomas Jefferson
  5. Tango3

    Tango3 Aimless wanderer

    So what you're implying is this is typical Alex Jonesian( tex maars/ bill cooper et al) internet hype, someone twists a couple of verifiable facts and builds a mythology from them...
    makessense to me. Same with the recurring hype of "admiralty law with its proof of " fringed flags in federal courtrooms"?

    thanks monkeys...
  6. SLugomist

    SLugomist Monkey++

    Looks to me that the company in question is merely a verification/"switching" stations for securities exchange i.e. stock market.
  7. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

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