Loading ...Holy cow! This thing dwarfs the Fed
The Depository Trust & Clearing Corporation (DTCC) is an American financial market infrastructure company that provides clearing, settlementand trade reporting services to financial market participants. It performs the exchange of securities on behalf of buyers and sellers and functions as a central securities depository by providing central custody of securities.
DTCC was established in 1999 as a holding company to combine the Depository Trust Company (DTC) and National Securities Clearing Corporation (NSCC). User-owned and directed, it automates, centralizes, standardizes, and streamlines processes in the capital markets.[3] 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 market instruments, 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 and close to $1.7 quadrillion[4][5][6] in value worldwide, making it by far the highest financial value processor in the world.[6] DTCC operates facilities in the New York metropolitan area, and at multiple locations in and outside the United States.[7]
The Fed sets CREDIT POLICY.
And it clears checks as a mundance effort.
DTCC clears securities trades. Back office stuff.
But beyond that, there IS MUCH MORE TO THIS STORY.
READ WEBB’S “GREAT TAKING”
From their website it is clear they do much more than do “back office stuff.” Quite a raft of services they offer
You can watch the first documentary based on David Webb’s book at http://www.thegreattaking.com which I highly recommend.
Since that came out last July, certain lawyers in the US in Tennesee have taken it upon themselves to get UCC 8 changed to prevent the great taking. The second documentary outlines where they are in progress on stopping it which you can watch here:
https://www.youtube.com/watch?v=Vbr3hfjVOxw
These are the clowns responsible for killing the Gamestop madness a couple of years ago by preventing traders from going long. People were only allowed to sell shares for a day or two. It was enough to crush the squeeze that would have destroyed many hedge funds and their counterparties.
So lesson is, they will change the rules whenever they want to get the desired outcome. It’s completely immoral. The one thing their rules can’t stop though, and that is physical demand/delivery.