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Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy

 
Anonymous Coward
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11/03/2012 07:09 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
whooooooop there it is! 43 trillion dollars worth of securities just happened to be destroyed... excellent cover story!
lightchild_uk

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11/03/2012 07:11 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
The Depository Trust & Clearing Corp., an industry-run clearing house for Wall Street, said the contents of its vault "are likely damaged," after its building at
55 Water Street
"sustained significant water damage" from the storm that battered New York City's financial district earlier this week.
 Quoting: G3


The clue is in the name

Last Edited by lightchild_uk on 11/03/2012 07:12 PM
Anonymous Coward
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11/03/2012 07:13 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
Here's a bit of related "trivia".

Does the following information help to explain the military presence offshore of Long Island and the forced evacuations and failures to grant residents the right to return to affected properties that we've been hearing about?

The Depository Trust & Clearing Corporation [is] the biggest bank in the world and I bet you have never heard of it.

What [exactly] is the Depository Trust & Clearing Corporation?

There is a busy little private company you probably never have heard about, but which you should. Its name is the Depository Trust & Clearing Corporation. See their website. Looks pretty boring. Some kind of financial service thing, with a positive slogan and out there to make a little business. You can even get a job there. Now, go and take a look at their annual report. Starts with a nice little Flash presentation and has a nice message from the CEO. And take a look at the numbers. It turns out that this company holds 23 trillion dollars in assets, and had 917 trillion dollars worth of transactions in 2002 alone. That’s trillions, as in thousands of thousands of millions. 23,000,000,000,000 dollars in assets.

As it so turns out, it is not because DTCC has a nice website and says good things about saving their customers money that they are trusted with that kind of resources. Rather it is because they seem to have a monopoly on what they do. In brief, they process the vast majority of all stock transactions in the United States as well as for many other countries. And – and that’s the real interesting part – 99% of all stocks in the U.S. appear to be legally owned by them.

How did this happen?

And why is this mega-monopolizer so hidden from public scrutiny? It turns out it’s part of the Federal Reserve Bank. Big surprise. These same owners and players mandated that all transactions have to go through their subsidiary. And not just go through it for all the profits and asset holding interest the transaction will bring, but they are given ownership of everyone’s assets in the process!

In the old days, when you owned stocks you would have the stock certificates lying in your safe. And if you needed to trade them, you needed to get them shipped off to a broker. Nowadays that would be considered very cumbersome, and it would be impractical to invest via computer or over the phone. So the shortcut was invented that the broker would hold your stocks instead of you. And in order for him to legally be able to trade them for you, the stocks were placed under their “street name”. I.e. they’re in the name of the brokerage, but they’re just holding them in trust and trading them for you. And you’re in reality the beneficiary rather than the owner.

Which is all fine and dandy if everything goes right. 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. To serve you better, of course. And, well, maybe it is. DTCC seems like a nice and friendly company. It is a private company, owned by the same people (major U.S. banks) who own the Federal Reserve Bank. And if they all stick to their job, and just keep the money and your stocks flowing smoothly, I’m sure that is all well and good. But if somebody at some point should decide otherwise, and 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.

[link to seeker401.wordpress.com]
ceawaves

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11/03/2012 07:21 PM

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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
Wonder what 'damaged' means?....stolen?
Surely they had back up files.
All this is getting crazier by the day.
Anonymous Coward
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11/03/2012 07:25 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
Well whaddya think was gonna happen when you store your shit in vault that's on a street named Water St???! DUH!starwars
Anonymous Coward
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11/03/2012 07:26 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
According to the following information and the info posted by the OP, it certainly appears likely that we ARE in more than just a bit of hot water now (no pun intended).

DTCC clears and settles virtually all equity, corporate bond and municipal bond trades, and money market instruments in the U.S., and the vast majority of trades in U.S. government securities and agency mortgage-backed securities.

Its depository holds in custody and services assets for most of the outstanding equity, corporate and municipal bonds in the U.S., worth about $27.6 trillion.

DTCC also provides matching, confirmation and the Trade Information Warehouse, a central registry of for trade information on credit derivatives globally, as well as other OTC derivatives.

DTCC also provides information and processing services for mutual funds and annuities, as well as corporate actions globally. In 2008, DTCC cleared and settled transactions worth $1.88 quadrillion.

[link to www.businesswire.com]
Anonymous Coward
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11/03/2012 07:28 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
Wonder what 'damaged' means?....stolen?
Surely they had back up files.
All this is getting crazier by the day.
 Quoting: ceawaves


Some how I think they wanted it this way. Order from chaos, you know. It's coming...
Anonymous Coward
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11/03/2012 07:37 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
Post below was copied from Thread: Sandy Staged to push Global Warming Fraud - Obama's unprecedented response is the clue.

Their first plan (flood the exchange building) didn't work so it took them a few days to come up with this newest story. The plot thickens....

This news item leads me to believe a plan to flood the exchange was in the works but failed.

[link to www.huffingtonpost.com]
CNN, Weather Channel Falsely Report NYSE Flooding During Hurricane Sandy

CNN then brought in Ali Velshi to weigh in. He was already in the center of danger, knee-deep in water on a flooded Atlantic City block. But, as one of CNN's top financial journalists, he commented on Meyers' report.

"This will have an influence worldwide on people's wealth," he said ominously.

Erin Burnett also reacted, saying that it was an "incredible thing" and a "record-making moment" and adding, "It's a wooden floor, and it's a historic building, the damage it could do would be amazing."

Unfortunately, the report started to unravel almost immediately.

snip

In the end, both networks were forced to declare the story false

 Quoting: Anonymous Coward 26646100
Possum

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11/03/2012 07:46 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
DOOM ON
There is no need for temples, no need for complicated philosophies. My brain and my heart are my temples; my philosophy is kindness.
Dalai Lama
Anyone who doesn't take truth seriously in small matters cannot be trusted in large ones either.
Albert Einstein
The kingdom of God is within you and all around you. It is not within buildings of wood or stone. Split a piece of wood and you will find me. Look beneath a stone and I am there.
Stigmata
Ohwell

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11/03/2012 07:55 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy

Trillions of dollars worth of stock certificates and other paper securities that were stored in a vault in lower Manhattan may have suffered water damage from Superstorm Sandy.

The Depository Trust & Clearing Corp., an industry-run clearing house for Wall Street, said the contents of its vault "are likely damaged," after its building at 55 Water Street "sustained significant water damage" from the storm that battered New York City's financial district earlier this week.

The vault contains certificates registered to Cede & Co., a subsidiary of DTCC, as well as "custody certificates" in sealed envelopes that belong to clients.

The DTCC provides "custody and asset servicing" for more than 3.6 million securities worth an estimated $36.5 trillion, according to its website.

"At this point, it is premature to make an accurate assessment as to the full impact of the water damage nor would it be helpful to project on what specific actions need to be taken with respect to our vault," said DTCC Chief Executive Michael Bodson in a statement. "We are aggressively working on this situation to minimize disruption to our clients and will provide additional updates as more information becomes available."

Bodson said the DTCC's computer records are intact and that the corporation has "detailed inventory files of the contents of the vault."

The building remains inaccessible, but the lower floors are believed to be flooded. The full extent of the damage cannot be assessed until power is restored and the building is deemed safe to enter.

More here:

[link to buzz.money.cnn.com]
 Quoting: G3


This is going to probably be a stupid question, but hasn't there been extensive rain in these areas before? Why all of a sudden are the subways flooded and previously impervious buildings inundated with water? Is this a situation similar to all the important legal papers being conveniently disappeared in Building 7?
 Quoting: Anonymous Coward 26912208


This^^^
 Quoting: G3


Or the missing trillions?

....and what has history taught us after such an incident occurs? FF Just around the corner??

Last Edited by Ohwell on 11/03/2012 07:57 PM
Anonymous Coward
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11/03/2012 08:09 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
Here's a bit of related "trivia".

Does the following information help to explain the military presence offshore of Long Island and the forced evacuations and failures to grant residents the right to return to affected properties that we've been hearing about?

The Depository Trust & Clearing Corporation [is] the biggest bank in the world and I bet you have never heard of it.

What [exactly] is the Depository Trust & Clearing Corporation?

There is a busy little private company you probably never have heard about, but which you should. Its name is the Depository Trust & Clearing Corporation. See their website. Looks pretty boring. Some kind of financial service thing, with a positive slogan and out there to make a little business. You can even get a job there. Now, go and take a look at their annual report. Starts with a nice little Flash presentation and has a nice message from the CEO. And take a look at the numbers. It turns out that this company holds 23 trillion dollars in assets, and had 917 trillion dollars worth of transactions in 2002 alone. That’s trillions, as in thousands of thousands of millions. 23,000,000,000,000 dollars in assets.

As it so turns out, it is not because DTCC has a nice website and says good things about saving their customers money that they are trusted with that kind of resources. Rather it is because they seem to have a monopoly on what they do. In brief, they process the vast majority of all stock transactions in the United States as well as for many other countries. And – and that’s the real interesting part – 99% of all stocks in the U.S. appear to be legally owned by them.

How did this happen?

And why is this mega-monopolizer so hidden from public scrutiny? It turns out it’s part of the Federal Reserve Bank. Big surprise. These same owners and players mandated that all transactions have to go through their subsidiary. And not just go through it for all the profits and asset holding interest the transaction will bring, but they are given ownership of everyone’s assets in the process!

In the old days, when you owned stocks you would have the stock certificates lying in your safe. And if you needed to trade them, you needed to get them shipped off to a broker. Nowadays that would be considered very cumbersome, and it would be impractical to invest via computer or over the phone. So the shortcut was invented that the broker would hold your stocks instead of you. And in order for him to legally be able to trade them for you, the stocks were placed under their “street name”. I.e. they’re in the name of the brokerage, but they’re just holding them in trust and trading them for you. And you’re in reality the beneficiary rather than the owner.

Which is all fine and dandy if everything goes right. 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. To serve you better, of course. And, well, maybe it is. DTCC seems like a nice and friendly company. It is a private company, owned by the same people (major U.S. banks) who own the Federal Reserve Bank. And if they all stick to their job, and just keep the money and your stocks flowing smoothly, I’m sure that is all well and good. But if somebody at some point should decide otherwise, and 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.

[link to seeker401.wordpress.com]
 Quoting: Anonymous Coward 919411


Thank you so much for this valuable information!

I bet TPTW had to think long and hard before releasing the latest flood narrative because the cat is now out of the bag about this secretive bank. I think they're going for broke with this story but will anyone believe them? Surely most people know about data storage and backups?
Anonymous Coward
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11/03/2012 08:11 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
But they didn't mean it to happen..hiding
Anonymous Coward
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11/03/2012 08:23 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
and as the ink from those documents washed away, perhaps so did your pension.

There'll be no apologies, no compensation, and next to no coverage
taniatarn

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11/03/2012 08:45 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
But if somebody at some point should decide otherwise, and 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.


 Quoting: Anonymous Coward 919411


WOW.
Interested observer of all things interesting!

Please note : Where appropriate for posted images/ graphs I acknowledge the New Zealand GeoNet project and its sponsors EQC, GNS Science and LINZ, for providing data/images used in my study and analyses of Volcanic and Earthquake information in New Zealand.
Anonymous Coward
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11/03/2012 08:46 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
paper money
Crazy Harriet

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11/03/2012 09:14 PM

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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
Wonder how long it will take for those papers to become useless now that they are wet?

What steps are being made to recover them?
Not another lousy foreign actor in the White House - Liam Neeson 2016! A foreign actor you can believe in.
Anonymous Coward
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11/03/2012 09:29 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
These guy's are the biggest bank in the world, The control everyone.




Bank for International Settlements (BIS) is an international organization of central banks which "fosters international monetary and financial cooperation.
Anonymous Coward
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11/03/2012 09:37 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
I don't think the gold bars would corrode or dissolve that fast....I call bs on that statement...hf
Anonymous Coward
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11/03/2012 10:10 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
All securities at this [Clearing House] Owned by the financial industry?

I hear they were made with a Special Kind of INK.

The kind that disappears when exposed to Wind, Water, or Investigations.

Its funny they call that Rat Hole a [Financial Industry]

Its more of a Sewer Hole of Despots and Criminals.

Does this [damage] have anything to do with the alleged class action lawsuit against the Banking Cartels for several trillions of dollars?
gebahie

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11/03/2012 10:17 PM

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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
Anonymous Coward
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11/03/2012 10:48 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
so is this a generally positive or negative thing for the stockmarket next week, given that it may be true.
Anonymous Coward
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11/03/2012 10:51 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
We have been warning the sheep to get out of the stock market just the way we warned the sheep again to get away from the coasts before Sandy hit.They didn't listen, and as a matter of fact they laughed at us......They have reaped what they have sown and I hope they get EVERYTHING that is coming to them!!!!!!!!
Anonymous Coward
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11/03/2012 10:56 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
its probably a positive as they cant be traded, ie cant be sold.
Anonymous Coward
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11/03/2012 11:11 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
gold silver and platinum vaults in NY
are all deep under ground also.
Anonymous Coward
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11/03/2012 11:13 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
so is this a generally positive or negative thing for the stockmarket next week, given that it may be true.
 Quoting: Anonymous Coward 4057806


Won't matter at all.
Simon23k
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11/03/2012 11:19 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
interesting find OP, keep us informed as the situation continues. Very important find.
ladyannie2009

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11/03/2012 11:45 PM

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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
this is what happens when there are no checks & balances

THEY make the laws... THEY impose the penalties... THEY decide who is exempt... THEY are never held accountable

it would be like leaving a plate full of cookies on the table with a bunch of 3 year olds running around. yes, you can leave the room & they'd probably be okay for a few minutes without supervision, but don't expect those cookies to be there when you come back

and that pretty much summarizes DeeCee



bullshit
"the truth will stand up, when nothing else will"
- annie's mom

"When a great ship is in harbor and moored, it is safe, there can be no doubt. But that is not what great ships are built for."
- Dr. Clarissa Pinkola Estes
Anonymous Coward
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11/03/2012 11:57 PM
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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
Does it really matter? Some paper got wet!!!! Will it have further effects?
UseLess RepEATER
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11/04/2012 12:20 AM

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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
Whether or not these certs. were actually destroyed via Sandy, she certainly will be blamed to cover any and all hijinks on their part.
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the truth will seem utterly preposterous and its speaker a raving lunatic.
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TSWB21

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11/04/2012 12:43 AM

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Re: Trillions of Dollars Worth of Stock Certificates and Other Paper Securities Feared Damaged by Sandy
awww that is a shame..

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