Own Stocks and Bonds? Think they are yours through your broker? You are Wrong. Fed Reserve aka DTCC is the owner of ALL stocks traded. You are a Beneficiary of your Stocks, unless they decide you are not. MF Global Theft of Billions now makes sense.
This is one of those mind blowing pieces of information that shows there is nothing that is not owned by the Federal Reserve. A little known company - Depository Trust and Clearing Corporation - DTCC is the one entity/corporation in the world that holds all stocks and bonds traded for brokers. They handle every stock/bond transaction world wide. Not just that, but every stock/bond that people think they own, they are not the owners of them. The stocks and bonds are not in their names in fact, the broker puts them in a fictitious name which the DTCC owns. The DTCC is listed as the actual owner of the stock and bond and those who have purchased them are strictly the beneficiary of said stocks and bonds.
You may be thinking... well being beneficiary is just as good as being the stated owner.... WRONG!
Being beneficiary of the stocks and bonds purchased may be fine when all things are going well, but what happens when things start going nuts and banks have some real problems (ie: Greece default and banks exposure to it, via derivatives)?
Remember MF Global - world's largest commodities broker? They went bankrupt, Oct 31 2011, and 1.2 Billion had been taken out of customers accounts just days before hand. It has been discovered that bank transfers of hundreds of millions of dollars were to JP Morgan before the commodities broker went down. The Federal government is not going to prosecute a single person regarding the outright theft of 1.2 billion from the customers accounts. Jon Corzine (CEO of MF Global, Obama money bundler, previous Governor of N.J.) is walking away a free man and the Congress is calling him "Honorable" at the same time. Then to make matters worse the Bankruptcy Judge put it in as a Equities bankruptcy and not a commodities bankruptcy (which was out right fraud) so Wall Street banks get first money, compared to the customers getting their money back. Which then allowed JP Morgan to steal all the gold and silver being stored for paying customers and outright owners of those metals. The customers of MF Global did not just lose their cash in accounts, they also lost all the gold and silver they owned for years and paid storage on through MF Global.