The $40 Trillion Company And The Financial Coup d’état *

Wise Up Journal
24.09.2008
by Gabriel O’Hara

Who has ever heard of the private company Depository Trust & Clearing Corporation? Shouldn’t investors be some what familiar with a private company that holds $40 trillion in assets and last year handled “more than $1.86 quadrillion” in stock transactions?

 - Source: Wikipedia
“DTCC retains custody of 3.5 million securities issues, worth about $40 trillion, including securities issued in the US and more than 110 other countries.”

“The Depository Trust & Clearing Corporation (DTCC), based primarily at 55 Water Street in New York City, is the world’s largest post-trade financial services company.

DTCC has been sued with regard to its alleged participation in naked short selling. Further allegations about DTCC’s possible involvement have been made by Senator Robert Bennett and discussed by the NASAA and in articles in the Wall Street Journal and Euromoney Magazine.”

“In 2007, DTCC settled the vast majority of securities transactions in the United States, more than $1.86 quadrillion in value.”

On the current financial meltdown; last week Jim Cramer, former Hedge fund manager, said on his CNBC’s financial TV program, “Obviously the financial terrorism thing for me has to be put on the table because the regular short sellers are not doing this, they’re not doing this.” Watch it here. Short selling is basically making money by placing bets/investing on stocks to go down in value.

A 2003 article (a few years before today’s dire financial meltdown) written on DTCC by an author named Flemming Funch brings up the differences of how stock certificates used to be in citizen’s names, then it changed over to the stock brokers name and “now, it appears the rules were then changed so the brokers are not allowed any longer to put the stocks in their own name. Instead, what they typically do is to put the stocks into the name of “Cede and Company” or “Cede & Co” or some such variation. And the broker might tell you that it is just a fictitious name, and will explain why it is really more practical to do that than to put it in your name. The problem with that is that it appears that Cede isn’t just some dummy name, but an actual corporation that DTCC controls. And, well, if you ask anybody about this, who actually knows about it, they will naturally tell you that it is all a formality. If there’s a national U.S. emergency and/or the U.S. government becomes unable to pay its debts, well, they might just not give you your stocks back. Because legally they own them. Something to think about.
It is a private company, owned by the same people [major bankers] who own the Federal Reserve Bank.”

Wikipedia: “DTCC is a member of the U.S. Federal Reserve System, and a registered clearing agency with the Securities and Exchange Commission.” The European based eqvilent of DTCC is called Euroclear and Wikipedia states, “It was founded in 1968 as part of J.P. Morgan & Co.”

Last week U.S. Securities and Exchange Commission Chairman Christopher Cox announced, “The Commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets. The emergency order temporarily banning short selling of financial stocks”

Wikipedia also states the following about DTCC, “North American Securities Administrators Association, representing state stock regulators, filed a brief saying that if the claims were correct, its shareholders “have been the victims of fraud and manipulation at the hands of the very entities that should be serving their interest.”

Certainly this private company with it’s colossal financial power, Depository Trust & Clearing Corporation, is one to investigate during this global economic meltdown.

Jim Cramer also said the decision to ban short selling was wrong unless it was a force “that is using financial terrorism.”

The Federal Reserve bailing out of grossly mismanaged corporate investment companies is itself financial terrorism on the tax payer by adding trillions to the U.S. debt, which has to be paid. Printing money for these bailouts eventually devalues the Dollar, and the savings of every citizen in the United States. It is also creating a form of communism by the state bailing out large corporations and mortgages. This financial terrorism caused by banking policies consolidates power in the hands of the Federal Reserve central bank and the Treasury away from elected by the people representatives. A U.S bill is about to be passed that takes authority from congress and gives unchecked financial power to the Treasury. The current U.S. Treasury Secretary is Henry Paulson, member of the IMF Board of Governors. John Steele Gordon, business and financial historian, told Bloomberg, “It sounds like Paulson is asking to be a financial dictator.”

Reuters reported, “Foreign banks will be able to unload bad financial assets under a $700 billion U.S. proposal.” These reckless bailouts to save financial corporations are eventually going render the Dollar worthless, and leave a lot of very angry Americans for the government to deal with. Paulson also said, “I’m going to be pressing our colleagues around the world to design similar programmes for their banks and institutions. Our system is a global one.”

But surely American elites could not be interested in fascism like their European counterparts of the 20th century? BBC in 2007 reported on a U.S. government document that details a 1933 U.S. coup. BBC states,”The coup was aimed at toppling President Franklin D Roosevelt,” and “Maxwell Hse & George Bush’s Grandfather, Prescott believed that their country should adopt the policies of Hitler and Mussolini”

UK’s main stream media newspaper the Guardian reported, “George Bush’s grandfather, the late US senator Prescott Bush, was a director and shareholder of companies that profited from their involvement with the financial backers of Nazi Germany. is business dealings, which continued until his company’s assets were seized in 1942 under the Trading with the Enemy Act. The new documents, many of which were only declassified last year, show that even after America had entered the war and when there was already significant information about the Nazis’ plans and policies, he worked for and profited from companies closely involved with the very German businesses that financed Hitler’s rise to power.”

The Huffington Post last week published an article titled “Welcome to the final stages of the coup…” which said, “we already now have in writing, formally as presented to Congress, the intentions of this administration to nullify Congressional powers permanently, to alter Judicial powers permanently, and to openly steal public funds using as blackmail the total collapse of the US economy if these powers are not handed over. You do see how this is blackmail, do you not? You do see how this is a manufactured crisis precisely designed to be used as blackmail, do you not?” We can expect these executive powers to be passed on to the next controlled administration, whether it be Democrat or Republican. (See this video for confirmation that the Democrats have the same Republican foreign policy, perhaps even worse.)

The Council on Foreign Relations, whom have top influential political players as members (U.S vice president Dick Cheney was a former Director) have an article on their website from 2007 called “The End of National Currency“. It says “the world needs to abandon unwanted currencies” and talks about “multinational currencies as yet unborn.” The CFR then talk about the U.S. Dollar becoming on of their “unwanted currencies” if the U.S. financial system is not healthy, “In the absence of long-term fiscal prudence, the United States risks undermining the faith foreigners have placed in its management of the dollar. There is no way effectively to insure against the unwinding of global imbalances should China, with over a trillion dollars of reserves, and other countries with dollar-rich central banks come to fear the unbearable lightness of their holdings.”

Do you suppose to create order out of this manufactured chaos the international banking elite would like to replace a worthless currency with a regional currency “as yet unborn” and to gain greater centralised control? Millions of Americans will lose the value of their life savings based in Dollars and there will be global ramifications if the Dollar collapses, but the elites have the reliance and understand that you have to break a few eggs to make an omelet. See a CNN news clip for more information on this proposed new currency that a financial meltdown would bring in.

On the 17th of September Reuters published an article titled “China paper urges new currency order after ‘financial tsunami’“. Western media does not republish “communist” propaganda of how bad the U.S. is but it apparently wants to publicise this idea. In the next few short years when the U.S. almost certainly defaults on it’s massive trillions of increasing debt, corporate owned China, the world’s leading manufacturer (thanks to corporate western outsourcing), will be left as the biggest world power ready to take over from the United States. A few days after the Reuters report Shanghai Daily announced the elite de Rothschild banking family have linked in with the Bank of China. Shanghai Daily states, “BANK of China said yesterday it will buy a 20 percent stake in La Compagnie Financiere Edmond de Rothschild for 236.3 million euros (US$340 million) and the two will develop private banking and asset-management services. Founded in 1953, LCFR is controlled by the Rothschild family, which has a 250-year history in European banking. ‘This partnership forms part of Bank of China’s global development strategy,’ Bank of China chairman Xiao Gang said in a statement. The deal expands Bank of China’s European ties just two months after it bought 30 percent of Swiss-based Heritage Fund Management SA in July for 60 million yuan (US$9 million).” The game is control, control, control, money just facilitates it and the best control holds no liability to public scrutiny.

It seems other international players like the United Nations would be happy to see reduced living standards in the west, as it would lower carbon emissions. Maurice Strong, founder of the UN Environment Programme: “Isn’t the only hope for the planet that the industrialized civilizations collapse? Isn’t it our responsibility to bring that about?”
If/when there is a Dollar collapse can you see your media telling you not to get angry that it’s actually a good thing because your lower standard of living is going to help stop climate change?

Deception is the ultimate weapon of mass destruction, a tiny elite minority of the human population could not have such control without it. People, especially in influential places need to know of this deception, which will render it and the control useless as the minority need cooperation from members of the majority.

End of Nations - EU Takeover and the Lisbon Treaty