Now why would Wall Street place its most sensitive plumbing needs in the hands of a man whose prior work experience mainly included working for the arm of the CIA that busied itself with overthrowing foreign governments? That’s a darned good question. One which we’ll explore today because it concerns your ownership of ‘your’ stock & bond portfolio.
by Dr. Chris Martenson
Chris Martenson’s Peak Prosperity
Note: This is the sixth installment in our Great Taking Series.
You know what would be really weird? If it turned out that a CIA employee was tasked to oversee the overhaul of the most sensitive plumbing used by Wall Street.
Well, this is exactly what happened. The DTC (now DTCC) controls virtually every aspect of stocks and bond sales. A shadowy wholly-owned subsidiary, Cede & Co., technically owns 83% of all stocks and some very large and an undisclosed amount of bonds.
According to the DTCC website: