News 
Market Data 
Discover
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Ming the Mechanic: The unknown 20 trillion dollar company
The NewsLog of Flemming Funch
The unknown 20 trillion dollar company 2003-10-30 17:37
19 comments
by Flemming Funch.................................................................................................................
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 litte 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. 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.
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.
An fascinating article about this whole thing is here. I will include it at the bottom too, in case it should disappear. Not that I can vouch for or agree with everything the guy is saying, and some of it is a little whacko, but obviously he's been researching this quite a bit. You'll find very little about it on the net otherwise.
--------------------------------------------------------------------------------
The Unknown $19 Trillion Depository Trust Company
by Anthony Wayne
Part I of II
This exclusive report is a compilation of interviews and background research from October 1995 through April 1999.
The Depository Trust Company (DTC) is the best kept secret in America. Headquartered at 55 Water Street in New York City, the average American has no clue that this financial institution is the most powerful banking corporation in the world. The general public has no knowledge of what the DTC is or what they do. How can a private banking trust company hold assets of over $19 trillion and be unknown? In a recent press release dated April 19, 1999, the Depository Trust Company stated:
The Depository Trust Company (DTC) is the world's largest securities depository, holding nearly $19 trillion in assets for its Participants and their customers.... Last year, DTC processed over 164 million book-entry deliveries valued at more than $77 trillion.
In dealing with the trust department of Midlantic Bank, N.A. in New Jersey [now PNC Bank, N.A.], this writer was authorized, as trustee and power of attorney, to transfer original trust assets comprising of common stocks and bonds to a new trust set up in another jurisdiction. An Assistant Vice President from the Trust & Financial Management Office of Midlantic Bank said to me "it will take at least 6 weeks to do this as the majority of the stocks and bonds are not held in the name of the trust". This same Midlantic Bank Assistant V.P. also stated in a letter dated November 17, 1995, "Of the 11 municipal bonds, 8 are held in book entry only. This means they cannot be physically re-registered with a certificate sent to the new trustees." (* these are not the actual figures quoted in the letter in order to protect the privacy of the account holder, at their request. Also, we were asked not to name the Midlantic Assistant V.P. in order to protect her privacy Rights. We respect these requests with full moral compliance). In disbelief, I brought this matter to the attention of our research assistants at the Christian Common Law Institute [formerly the North Bridge News] and we began our lengthy investigation into the matter. After 3 years, the can of worms we've opened up should frighten every American. With the advent of reported Y2K computer glitches and the possible collapse of our 'paper asset' economy, every person who has a stock or bond in their portfolio had better read this report and act on the information we are disclosing here.
In November 1995, after encountering numerous "no comments" and a myriad of "that's not my department" excuses via telephone, I eventually spoke with Mr. Jim McNeff who told me his position was Director of Training for the DTC. He said he'd been employed there for 19 years and was "very proud" of his employer. During my initial telephone interview, either Jim's employer or some other unknown person or persons were illegally listening or taping our telephone conversation according to the electronic eavesdropping equipment we have installed on our end. Why did anyone feel it was necessary to illegally record our conversation without advising us? Was some federal alphabet agency monitoring DTC calls to safeguard National Security? That in itself is suspicious enough to warrant a big red warning flag.
Jim informed me back then (1995) that "the DTC is the largest limited trust company in the world with assets of $ 9.1 trillion". In July 1998, I spoke with Ms. Rose Barnabic of the DTC Finance Department who said that "DTC assets are currently estimated at around $11 trillion". As of April 19, 1999, the DTC itself has stated that their assets total "nearly $19 trillion" (see above). Mr. McNeff had also stated "the DTC is a brokerage clearing firm and transfer center. We're a private bank for securities. We handle the book entry transactions for all banks and brokers. Every bank and brokerage firm must secure their membership with us in case they become insolvent, so your assets are secure with DTC". Yes, you read that correctly. The DTC is a private bank that processes every stock and bond (paper securities) for all U.S. banks and brokerage houses. The big question is this; Just who gave this private bank and trust company such a broad range of financial power and clout?
The reason the public doesn't know about DTC is that they're a privately owned depository bank for institutional and brokerage firms only. They process all of their book entry settlement transactions. Jim McNeff said "There's no need for the public to know about us... it's required by the Federal Reserve that DTC handle all transactions". The Federal Reserve Corporation, a/k/a The Federal Reserve System, is also a private company and is not an agency or department of our federal government, according to the 1998 Federal Registry. The Federal Reserve Board of Governors is listed, but they are not the owners. The Federal Reserve Board, headed by Mr. Alan Greenspan, is nothing more than a liaison advisory panel between the owners and the Federal Government. The FED, as they are more commonly called, mandates that the DTC process every securities transaction in the US. It's no wonder that the DTC (including the Participants Trust Company, now the Mortgage-Backed Securities Division of the DTC) is owned by the same stockholders as the Federal Reserve System. In other words, the Depository Trust Company is really just a 'front' or a division of the Federal Reserve System.
"DTC is 35.1% owned by the New York Stock Exchange on behalf of the Exchange's members. It is operated by a separate management and has an independent board of directors. It is a limited purpose trust company and is a unit of the Federal Reserve." -New York Stock Exchange, Inc.
Now, let's see how this effects the average working American family. If you're not aware how the system works, you should visit or call a stock broker or bank and instruct them you want to purchase some shares of common stock or a small municipal bond, for example. They will set up a brokerage account for you and act as your agent with full durable power of attorney (which you must legally sign over to them) to conduct business on your behalf, upon your buy or sell instructions. The broker will place your stock or bond purchase into their safekeeping under a "street name". According to Mr. McNeff of the DTC, no bank or broker can place any stock or bond into their firm's own name due to Federal Trade Commission (FTC) and Security and Exchange Commission (SEC) regulations.
The broker or bank must then send the transaction to the DTC for ledger posting or book entry settlement under mandate by the Federal Reserve System. Remember, since your bank or broker can't use their name on the certificate, they use a fictitious street name. "Since the DTC is a banking trust company, we can't hold the certificates in our name, so the DTC transfers the certificates to our own private holding company or nominee name." states Mr. McNeff. The DTC's private holding company or street name, as shown on certificates we have personally examined from numerous certificate holders, is shown as either "CEDE and Company", "Cede Company" or "Cede & Co". We have searched every source known to learn who CEDE really is, but have been unable to get any background information on them. Is Cede Company fictitious or is their identity perhaps a larger secret than DTC? We must presume that the information Mr. McNeff gave us was correct when he confirmed that Cede Company was a controlled private holding company of the DTC. We have now found the following proof that CEDE is real from the Bear Stearns internet site:
NEW YORK, New York - March 16, 1999 - Bear Stearns Finance LLC today announced that it will redeem all of the 6,000,000 outstanding 8.00% Exchangeable Preferred Income Cumulative Shares, Series A ("EPICS") of Bear Stearns Finance LLC, liquidation preference of $25.00 per Series A Share, CUSIP number G09198105. All of the Series A Shares are held by Cede & Co., as nominee of The Depository Trust Company, and the payment of the redemption price will be made to Cede & Co. by ChaseMellon Shareholder Services, LLC, as paying agent, whose address is: 85 Challenger Road, Ridgefield Park, New Jersey 07660.
The banks and brokers are merely custodians for their clients. By federal law (SEC), they cannot hold any assets in the customer's name. The assets must be held in the name of DTC's holding company, CEDE & Co. That's how DTC has more than $19 trillion dollars of assets in trust... or is it really in "trust" if the private Federal Reserve System is technically holding it in their "unknown" entity's name? Obviously, if stock and bond certificates you've purchased aren't in your name, then the "holder" (the Federal Reserve System) could theoretically refuse to surrender them back to you under a "national emergency" according to the Trading with the Enemy Act (as amended). Is this the collateral being held by the private Federal Reserve System to pay off the national debt owed to them by our federal government, first initiated by Lincoln's debt bonds of 1864?
According to Mr. McNeff, the DTC was a former member of the New York Stock Exchange (NYSE), and "Our sister company is the National Securities Clearing Corporation... the NSCC" (they have since merged). He was correct since we now know that the NYSE holds 35.1% of the "ownership" of the DTC on behalf of their NYSE members. Simply put, the Depository Trust Company absolutely controls every paper asset transaction in the United States as well as the majority of overseas transactions, and they now physically hold (as of April 1999) 99% of all stock and bond book-entrys in their street name, not the actual owner's names. If you have stock or bond certificates in your name buried in your back yard or under your mattress, we suggest you keep them there. If not, it might be very wise to cancel your brokerage account and power of attorney status, re-register the stocks and bonds in your name (if you still can), and keep them hidden where only you know their location. Otherwise, you have absolutely no control over them (see Part II of our exclusive research report on the DTC for more information on beneficial ownership status). However, getting a stock or bond certificate these days is not so easy if possible at all:
"For the most part, issuers know little about the role of the Depository Trust Company (DTC). The DTC was created in 1973 as a user-owned cooperative for post-trade settlement. Our members are banks and broker/dealers, whom we refer to as participants. We handle listed and unlisted equities, including 51,000 equity issues and 170,000 corporate debt issues, equating to more than 78% of shares outstanding on the New York Stock Exchange (NYSE). We also have more than 95% of all municipals on deposit.
In the 1980s, the "Group of 30" [business leaders] recommended that stock certificates be eliminated, because physical certificates create risk. The Securities Exchange Commission (SEC) issued a concept release in 1994 to gradually decrease certificates, providing optional direct registration on the books of the issuer instead of a certificate.... this enhances the portability of shares between transfer agents and brokerage accounts. With the direct registration system, brokers transmit instructions to purchase through DTC, which the issuer or transfer agent then registers, so shares can be delivered electronically." -John D. Faith, Manager, Corporate Trust Services, The Depository Trust Company (1996)
Now we're about to reveal to you the most shocking discovery we came across during our research into this matter. Most of us remember a few years back the purported computerized selling of stocks that resulted in Wall Street's "Black Monday":
Dow Dives 508.32 Points in Panic on Wall Street
"The largest stock-market drop in Wall Street history occurred on "Black Monday" -- October 19, 1987 -- when the Dow Jones Industrial Average plunged 508.32 points, losing 22.6% of its total value. That fall far surpassed the one-day loss of 12.9% that began the great stock market crash of 1929 and foreshadowed the Great Depression. The Dow's 1987 fall also triggered panic selling and similar drops in stock markets worldwide" -Source: Facts on File World News CD ROM
The stock exchanges had dramatic record losses, and a record volume of shares were traded on that infamous Monday in October 1987. We all asked ourselves how computers could have done this by themselves without someone knowing about it. After all, someone has to program a computer to tell it what to do, what not to do, or even when to do or not do it.
During my telephone conversation, Mr. McNeff was trying to assure me that they [the DTC] have "never lost a certificate or made a mistake in a book ledger transaction". In attempting to give me an example of how trustworthy the DTC is when I asked him how he could back up such a statement, he replied "DTC's first controlled test was 4 or 5 years ago. Do you remember Black Monday? There were 535 million transactions on Monday, and 400 million transactions on Tuesday". He was very proud to inform me that "DTC cleared every transaction without a single glitch!". Read these quotes again: He stated that Black Monday was a controlled test. Black Monday was a deliberately manipulated disaster for many Americans at the whim of a controlled test by the DTC.
What was the purpose of this test? Common sense tells you that you test something before you intend to use it. It's quite obvious that the stock markets are going to 'crash and burn' at some future date and for some 'unknown' reason since the controlled test was so successful. Was this just one of the planned tests for a Y2K internationally planned worldwide economic meltdown? The Great Depression is about to be repeated, and it will be as deliberate and manipulated as the first one that began with the stock market crash of 1929. We are, without a doubt, on the brink of the Mother of all economic Depressions. As of May 3, 1999, the Dow Jones Industrial Average (DJIA) went above a record 11,000 points. Just prior to the 1929 stock market crash, Wall Street was posting record prices, record earnings, and record profits.... just like the scenario we are experiencing today. Will Y2K be a manipulated and deliberate a financial meltdown? Too many facts already support this probability.
On June 7, 1995, the federal government issued a new regulation requiring stock and bond certificate transfers to be cleared in three days instead of the previous five day time period. It coincided with the infamous Regulation CC that purportedly gave us faster three day availability of funds from deposited checks. This means that brokers and banks must get your stock or bond transaction into the street name (Cede & Co.) of the DTC within 3 working days. That's hard to do considering banks claim it takes 3 or more days to clear a check that you've submitted to pay for a stock purchase. But, there's a reason for this new regulation and it coincides with the introduction of the new FRS "dollars".
On February 22, 1996, "the DTC will flip the switch" according to Mr. McNeff. "What switch?", I asked. "This is the day that clearing house funds will no longer be accepted for stock or bond transactions" was my reply from Jim. "Instead, only Fed Funds will be accepted". Fed Funds, or a Fedwire, are electronic computer ledger debit transfers between Federal Reserve System member banks. No checks or drafts have been allowed from that day, just as Mr. McNeff accurately stated. This is more commonly called a 'cashless transaction'. I call it the reality of the mark of the beast. This is the manifestation of the new international god, the New World Order [I prefer the term 'New World DISorder' as a more accurate description].
Consider this my fellow Christian Americans: All pension funds and other institutional 'managed funds' are comprised of paper asset investments such as stocks, bonds, and mutual funds. These certificates are technically in the name of DTC's private holding company, CEDE and Company. The DTC is owned by the private Federal Reserve System owners (Click for a complete list of names). Congress has attempted, on no less than two occasions since 1995, to pass legislation allowing pension funds to be used by the government as purported 'loans'. All the Federal Reserve System has to do is hand it over. But, what happens to the people counting on those pension fund investments in order to feed themselves in their retirement? Too bad for them.... they're out of luck because for the 'good of the nation', they may be forced to share or relinquish their lifetime of hard-earned wealth. This can be done without the consent of Congress under an Executive Order based on the War and Emergency Powers Act and a state of National Emergency, just like we are already under (See further Executive Orders). Since the Federal Reserve System already holds our stocks and bonds in their fictitious DTC "street name", CEDE, then perhaps they'll cash them in for the federal government's failure to repay the loans that have become way overdue. Heck, some of Lincoln's gold backed bonds from 1864 have not been repaid yet.... and for a reason.
On March 6, 1933, all bullion gold and gold coins were forcibly taken from the hands of private citizens (see New York Times). Under the War Powers Act, President Roosevelt declared a national emergency touted as a "Banking Holiday". It was declared due to the deliberately calculated stock market crash that preceded the Great Depression. Where did this gold end up? Into the hands of the Federal Reserve System owners. The majority is stored in the impervious rock vaults they own beneath New York City. Is it any surprise that the DTC physically holds all the remaining non-book entry issued stock and bond certificates in the same place?
Technically, our entire nation is still under the Executive Order declaration of the War Powers Act and in a continual state of national emergency (See Clinton's 1994 Executive Order 12919). The President can enforce any new emergency at any time under Executive Order or Presidential Directive. In 1995, we [the former North Bridge News] published that we expected a new national "dollar" emergency to be declared within a year or two. Just like we thought at the time, they have now blamed it on the purported drug dealers who are allegedly destroying our currency by money laundering schemes.
Since late 1996, old U.S. $100 FRB notes issued by the Federal Reserve Bank are being exchanged for new $100 FRS issued by the Federal Reserve System. These new notes have scanable magnetic platinum encryption on the plastic strips embedded inside the bills. The U.S. Treasury claims this is for "the blind". Now, new $20 and $50 FRS's are replacing the older notes as well. What people don't realize is that very soon, the older FRB notes will no longer be 'legal' and there will be a penalty for hoarding them. This is what happened to those Americans holding gold and gold coins after 1933.
"We are most gratified with the successful introduction of the new $100 and $50 notes and look forward to the same success with the new $20s," Chairman Greenspan said. For the first time, a machine-readable capability has been incorporated for the blind. A new feature in the $20 will facilitate the development of convenient scanning devices that could identify the note as a $20. -U.S. Treasury, Office of Public Affairs, RR-2449 released May 20, 1998.
Why new paper 'money' and for what purpose? Because the new FRS notes in your pocket can be scanned and whoever scans them can know exactly how much money you have on you. The older FRB notes are not encoded to do this. This writer knows firsthand of at least one machine, manufactured by Diebold, Inc. (a/k/a InterBold) that scans the money in your pockets, wallet or purse no different in theory than a credit card scanner, but much more sophisticated. I participated in a 'test' of this machine at a U.S. international airport in 1998. To me, it looks much like the standard metal detector scanners you walk through at all airports. I was asked (by who I believe was a U.S. Treasury Agent, as he introduced himself and flashed his ID quickly in my face so I couldn't read it) if I had any of the new $100 or $50 bills in my pockets. I looked in my wallet and saw I had one new $100 FRS note. I told him "yes", then he said "Good, but don't tell me how much". After saying he would "really appreciate it" if I would help them with a test, he asked me to walk through what looked like a typical airport scanner. No beeps. No noise. No sound at all. He looked at a computer screen and said "Do you have a new $100 bill?". When I confirmed that was true, he thanked me and told me to please move on. I tried to ask him how the machine knew that, but he ignored my question. I took a good look at the scanning system and believe I have now spotted them at Kennedy, Atlanta, Miami and Los Angeles airports.
The odd part about this is that these machines seem to all be located in the customs areas where you enter the U.S. from a foreign country. Obviously, they want to know if someone is carrying more than $10,000 into the U.S. Common sense dictates that they should be more concerned about people leaving with more than $10,000 if they're really trying to thwart the drug dealers.... until you begin to realize that there must be some other hidden agenda: They are apparently going to stop money from entering the U.S. for a reason.
Will the President call for the confiscation of all gold bullion and bullion coins as Roosevelt did? Who will end up with it? The Federal Reserve System owners, just like before. Since June 1998, international gold supplies have been so low that some private Swiss Banks have been paying a premium above the market wholesale value for gold bullion. This was confirmed to us by a gold and diamond mining Chief Executive from Rex Mining in Guinea, West Africa, who supplies raw gold to a major Swiss Banking company smelter and processor The spot gold market has been manipulated to keep the price low so that the Federal Reserve System owners can purchase all that is available through their various trusts and corporations. World gold availability on the open market is now at a record low and mining production of gold is also at a record low output.
What happened to 'supply and demand' with gold and silver? Normally, when supply is high the price decreases. When supply is low, precious metal prices increase. Perhaps the private FED will peg the new dollar to gold prices, as many experts have already speculated. What will stocks and bonds purchased with old dollars be worth then? Pennies to the dollar, so to speak. Who ends up being the only winner? The Federal Reserve System stockholders. They control the circulation amounts of paper money in the U.S. Combine that with the new scanner to stop large amounts from entering into the U.S., and the scenario amounts to a planned shortage of paper FRS notes, the banning of the older FRB notes, and the soon to be astronomical price of gold which most Americans will be forbidden to have or hoard, once again. The facts we've presented in this report all point to this.
People will be at the mercy of the federal government for daily food and for jobs. Checks are soon to be totally phased out. Banks issue ATM debit cards and tell you they must charge more for your account if you use a real live human teller instead of the machine. The switch is being turned on. This is not speculation. This is the truth of reality. It's already been tested, and their new system works. Just ask Jim McNeff of the DTC.
The day has come when you must decide to accept or reject the beast and the New World Disorder.
Part II of II-
You don't own your Stocks....or any of your Bonds...The Depository Trust Company does.
by Anthony Wayne
In Part I of this series, excerpts of which were first published in November 1995 by the former North Bridge News, we exposed The Depository Trust Company (DTC) as the Unknown $ 9.1 Trillion Company. It appears that our startling discoveries of the inner-workings of the DTC had only scratched the surface. We'd like to add more fuel to this blazing fire by further exposing the DTC and those behind it.
The Depository Trust Company has grown since October 1995. On July 1998, this amount was estimated by a DTC employee at more than $11 Trillion. As of April 19, 1999, the DTC itself has stated in a press release that their asset value is nearly $19 trillion. In 3 1/2 years, their assets increased nearly $ 10 Trillion. That's a lot of stocks and bonds supposedly held in trust. The latest trend over the past ten years is for stock and bond brokers to offer "book-entry ownership" only. Every book-entry stock or bond is literally owned by the DTC. Since 1985, most bond and many stock issuers have converted from the issuance of certificates to book-entry systems administered and controlled by the DTC. As of March 1999, the National Securities Clearing Corporation (NSCC) and the Participants Trust Company (PTC) are now merged into the DTC. Practically, there isn't one stock or bond issued that is not controlled by the DTC.
If you purchase any stock or bond through a broker, it is being held for you under a "street name" by the DTC unless you have specifically requested to hold the certificate yourself. If you have a book entry stock or bond, you won't be issued a certificate. It's important to note that you have purchased that particular stock or bond without becoming a registered holder of the actual stock or bond certificate. Instead, you have become a beneficial owner. The difference between the two is like night and day. Take the time to absorb and understand the following definitions:
REGISTERED HOLDER- A Registered Holder literally possesses, owns, and holds, his stock or bond with his name appearing on the face of the certificate. The company that issued the certificate has registered the owner's (holder's) name on their official books. This is the safest way to own a paper asset. You literally possess the fully registered certificate and only you can transfer or sell it. By all Rights and definition of law, you are the owner. You have it, you hold it, you possess it, and you keep it. You have the complete control over it.
BENEFICIAL OWNER- A Beneficial Owner is nothing more than a beneficiary, "One who is entitled to the benefit of a contract"- A Dictionary of Law, 1893. All book-entry stocks and bonds you purchase make you the beneficial owner, not the registered holder. The owner of a book-entry stock or bond is the entity or name that it is registered under.
The DTC owns that bond or stock, not you. Rather than in your name, it's registered (as the legal Registered Owner or agent) in their "street name", Cede & Company. (In the past, it may have been registered in your broker's street name, but this is no longer allowed). The DTC is the Registered Owner - holder - of your stock or bond. The DTC is the legal property-holder, share-holder, stock-holder, owner and purchaser. Your name appears nowhere on the book entry or certificate as the actual owner. Instead, you have been designated by the legal registered owner, the DTC, as the Beneficial Owner. This means that your lawful Rights in that stock or bond are confined to that of a successor or heir.
At the University of Utah College of Law, we found the following examination question about Cede & Co.:
The common stock of LargeCo, Inc. is publicly traded on the New York Stock Exchange. Over 2/3rds of the shares are registered on LargeCo's books in the name of Cede & Co. Cede is a depository company which holds the shares as nominee on behalf of brokerage firms, mutual funds and other active traders. The brokerage firms in turn are also nominees with respect to some of the shares, which they hold on behalf of their customers. Nominees, such as Cede and brokerage firms holding for customers, view the customer as the beneficial owner of the shares and consider the customer to be the one with the right to vote the shares; mutual funds, however, view the fund as the owner of the shares it holds and vote the shares themselves.
Most of the remainder of LargeCo's stock (26% of the total) is held by the Large family, which is still actively involved in management. LargeCo is aware that the beneficial owner of about half the stock registered in Cede's name is the Small family, who live next door to the Larges in downtown Rome, and that the remainder of the Cede stock is beneficially owned by several well known mutual funds.
According to the DTC, under the US Security and Exchange Commission (SEC) rules, you only have the right to "receive proceeds or other advantages as the beneficiary". You are not the owner... you are the consignee, "One who has deposited with a third person an article of property for the benefit of a creditor"- A Dictionary of Law, 1893. In legal terms, you are considered the heir presumptive or heir at law to the stock or bond you paid for. The DTC controls, possesses as creditor, holds and owns your book-entry stock or bond. This is a difficult pill to swallow for those who have placed their assets in stocks and bonds over the past decade. Your broker sends you a fancy accounting every month of your purported holdings, along with dividend and interest payments paid. The fact is, you only receive the benefit of ownership (interest and dividends) without holding title to your property. You are at the mercy of the registered owner, the DTC. If you don't believe this is true, then call your broker right now and ask them who's name is listed as the Registered Holder of your book-entry stocks and bonds. If you're lucky, the broker will tell you "why of course you're the Beneficial Owner", then you'll know the truth. He may emphasize to you that the stocks and bonds are being held in "safe keeping" for your own protection. This is broker language for "your stocks and bonds are held by the DTC in their street name as the creditor".
From J.P. Morgan's internet site:
Registered and beneficial shareholders
There are two types of shareholders: registered, who hold an ADR in physical form, and beneficial, whose ADRs are held by third-parties and are listed under a "nominee" or "street" name.
Registered shareholders are listed directly with the issuer or its U.S. transfer agent. The transfer agent handles the record-keeping associated with changes in share ownership, distribution of dividend payments, and investor inquiries; it also facilitates annual meetings. An issuer's depositary bank can provide the identities of registered shareholders on a regular basis. However, this may not provide the level of shareholder identification required for a successful investor relations effort. Registered shareholders are typically individual investors who have physical possession of their share certificates, generally in lots of 100 shares or fewer. The registered list also includes nominee names such as Cede & Co., which represent the aggregate position of the Depository Trust Company (DTC), the primary safekeeping, clearing, and settlement organization for securities traded in the United States. DTC uses electronic book-entry to facilitate settlement and custody rather than the physical delivery of certificates.
Beneficial shareholders, which can include individual as well as institutional investors, do not have physical possession of their certificates; third-party broker-dealers or custodian banks hold their securities on their behalf. These shares are said to be held in street name because they are kept with the DTC in the name of the broker-dealer or the custodian bank - not the underlying shareholder. Lists of beneficial shareholders who do not object to disclosing their holdings are available from banks and broker-dealers. These lists, called NOBO for Non-Objecting Beneficial Owner, typically provide the names of individual investors.
To help identify institutional investors, who do not usually disclose their holdings, issuers use publicly available filings. Large holders, including investment managers, are required to make periodic filings - such as 13-F, 13-G, and 13-D - with the Securities and Exchange Commission (SEC) disclosing the name and value of the positions in their portfolios.
Which brings us to the street name used, registered, and designated by the DTC as the registered owner of over $19 Trillion (USD) of our stocks and bonds... CEDE & Co. Everyone in the brokerage business keeps pronouncing this name as "See Dee" and Company, but it's spelled C-E-D-E and pronounced "Seed". This is where the real irony comes.
According to Black's Law Dictionary, Sixth Edition, 1990, the word Cede is defined as "To yield up; to assign; to grant; to surrender; to withdraw. Generally used to designate the transfer of territory from one government to another". In the Black's 1951 Fourth Edition, it lists the following as supportive case law; Goetze v. United States, C.C.N.Y., 103 Fed. 72.
Have you made the connection yet? Your book-entry stocks and bonds and all stock and bond certificates purchased through your broker and held by them under your brokerage account are owned by CEDE & COMPANY (the DTC) as the registered owner. You have surrendered, assigned and granted ownership to someone else other than yourself. Their name says it all.
How ironic and sarcastic can they be?
"CEDE- To surrender possession of, especially by treaty. See Synonyms at 'relinquish'." -American Heritage Dictionary of the English Language, 3rd Edition of 1992
If Americans had any idea that they have relinquished the lawful ownership of their stocks and bonds to someone or something else, there would be a revolution. In a sense, that's why we are exposing this paper asset scam to you. The point is, now that you know the truth, do something about it and get your assets back into your name.
Our suggestion to you is this: If you don't literally have every stock and bond registered certificate in your possession, then promptly call your broker and tell him you want all your securities transferred and re-registered into your name as the Registered Holder and Owner. If he says he can't do that because your stock or bond is a book-entry transaction only, we strongly suggest, for your own security, that you sell your book-entry assets immediately. Don't let the broker tell you that it's "safer" for you if they keep your certificates. Remember, you know the truth. Even if all your stock and bond certificates were burned in a fire, the process to have them replaced is simple. If someone were to steal your certificates, you simply report them stolen to the company that issued them and they're automatically cancelled, just like a stolen credit card. Replacement certificates are then issued to replace the lost or stolen originals.
Most people don't realize that when they open a brokerage account, they have entered into an contractural agreement allowing the broker to assign the stocks and bonds to an undisclosed creditor, the DTC. (We suggest you read the small print on your brokerage agreement). This gives the broker your express written permission to place all your securities into the ownership of the DTC. Your broker is an agent for the DTC through mandatory Securities and Exchange Commission regulations and mandates by the Federal Reserve System private bank. Your broker represents them, not you. Your brokerage account is nothing more than a ledger of accounting. It reflects no assets held in your name. The assets are registered in a "street name" that is not you or your name. Sure.... you receive the interest and dividends, but you do so as a beneficiary to the real owner. Your brokerage account in no way, shape, or manner reflects who literally owns your securities. What you own is a brokerage account and nothing more.
A greater consideration is just exactly who does the DTC hold these securities for? As the owner, who has the DTC pledged these securities to? Our research points to the Federal Reserve System, an international private banking cartel with major offices found in Moscow, London, Tokyo, and Peking. By treaty with the United Nations and in compliance with the Bretton Woods Agreement, the DTC under regulation of the Federal Reserve System has pledged all those stocks and bonds to the International Monetary Fund (IMF). These are the same paper securities found in your IRA and pension fund accounts, as well as in your brokerage account. Remember, you don't own them.... you're just a beneficiary.
The truth is, the securities you purchased and paid for with your hard earned money is collateral for the United Nations which is backed by the Federal Reserve System and it's associated agencies, such as the International Monetary Fund. Is it any wonder that the UN can operate year after year with increasing budgets, but without sufficient funds? The UN has nearly $19 Trillion of backing and reserves, thanks to millions of duped Americans. We are financing the New World Dis-Order with our stocks and bonds.
( link to site and article here: http://ming.tv/flemming2.php/__show_article/_a000010-000923.htm )
______________________________________________________
ps. Opinions people? Thanks.
|
Followers
|
20
|
Posters
|
|
|
Posts (Today)
|
0
|
Posts (Total)
|
170
|
|
Created
|
12/10/05
|
Type
|
Premium
|
| Moderator bartermania | |||
| Assistants Telephonics rrufff | |||
...
...
REG. SHO FAILURES TO DELIVER LISTS:
Search the Reg SHO List...Data collected & processed for all trading days
http://www.regsholist.com/
NYSE List of Settlement Problem Securities:
http://www.nyse.com/Frameset.html?displayPage=/threshold/
NASDAQ Threshold Securities List:
http://www.nasdaqtrader.com/aspx/regsho.aspx
AMEX List:
http://www.amex.com/amextrader/?href=/amextrader/tradingData/RegSHO/TrDa_RegSHO.jsp
NYSE Order Trac (daily short interest on the NYSE...FTD's are not included):
http://marketrac.nyse.com/ot/ot.html
_______________________________________________________________
Info. on reg SHO:
"Strategic Delivery Failures in US Equity Markets"
http://www.unm.edu/~boni/Fails_paper_Nov2004.doc .........
..........
..........
________________________________________________________________
Bud Burrell - Front and Center
Bud Burrell's blog from The Sanity Check:
http://www.thesanitycheck.com/Blogs/BudBurrellsBlog/tabid/84/Default.aspx
From The "Bud" Files - Correspondence From Bud Burrell:
Discovery of Massive Links to Financial Terrorism, Global Fraud, and Treason/Betrayal - 2005
Friends, As you know, I have spent an enormous amount of time studying the Naked Short Selling scandal and related criminal conspiracies. At every turn in this five year period of my focus, I have been led systematically to the recurring conclusion that no matter how intertwined the elements, no matter how the parties were interrelated, I was always finding more evidence of more links and coordination between the players, not only domestically, but globally. I have found literally hundreds of links between thousands of highly coordinated players, more thousands of companies, and now, most probably Governments, including elements of our own US Government.
These links have continued to literally mushroom to a point that I had to consider the potential for a much larger, highly disciplined and professionally organized criminal conspiracy based on intelligence network parallels between securities scams of all kinds, pump and dump promoters, internet bashers, professional short sellers, domestic and offshore hedge funds, broker-dealers, clearing firms and organizations, transfer agents, global banking and foreign trusts, every form of international criminal syndicate, regular and electronic counterfeiting of all forms of securities, and massive global money laundering. The network set up to mastermind this is directly comparable to an intelligence network, with central control, case officers for the respective areas, and field agents. It is not something that has been created overnight, but has taken literally years to construct, pulling together disparate elements from every part of the global financial economy, world-wide organized crime, and international terrorists.
(The rest of this post is here: http://www.thesanitycheck.com/Portals/0/Bud1.pdf )
The "Bud" Files - Correspondence From Bud Burrell
Here is the collection of correspondence that TheSanityCheck.com proudly presents as, "The Bud Files."
(Every week or so we will be adding additional content. Check in and see the latest on a frequent basis.)
Discovery of Massive Links to Financial Terrorism, Global Fraud, and Treason/Betrayal - 2005
Has Naked Shorting Gone So Far Out of Control, It Could Meltdown the Financial System? 2004
What is the Real Agenda of Our Regulators? 2004
Observations on Keeping Your Head On Straight When All Are Losing Theirs (and this isn't' a Revolution YET) - 2004
Time Decay And The Shorting Issue/Time To Pass The Baton - 2005
Summary Of Crisis and Recommendations for XXXX Company - 2003
Letter to Al Gonzalez, Then White House General Counsel - 2003
Letter to Harvey Pitt, SEC Chairman - 2002
(Go here to read these: http://www.thesanitycheck.com/TheBudFiles/tabid/85/Default.aspx )
CFRN INVESTIGATES
THE BURRELL TAPES: Bud Burrell is a corporate finance generalist specializing in development stage companies. He has extensive experience in sales, trading, and marketing of development stage companies on a global scale.
http://cfrn.net/investigates/budburrell.m3u
http://cfrn.net/investigates/budburrell2.m3u
http://cfrn.net/investigates/budburrell3.m3u
http://cfrn.net/investigates/budburrell4.m3u
http://cfrn.net/investigates/budburrell5.m3u
http://cfrn.net/investigates/budburrell6.m3u
http://cfrn.net/investigates/budburrell7.m3u
http://cfrn.net/investigates/budburrell8.m3u
(A new 40 minute update by Bud. It seems like it was done within the past few days. Today is 2/25/2006.)
http://heavensembrace.org/debibudcfrn.mp3
[b]Red Mafiya : How the Russian Mob Has Invaded America
by Robert I. Friedman 
Link to book: http://www.amazon.com/gp/product/0316294748/qid=1137384559/sr=2-1/ref=pd_bbs_b_2_1/103-7712674-09446....
(A review of this book) Brain to Pinky: "Take over the world!", March 14, 2003
Reviewer: Derek Pillion "OrthoByzEgypt" (Camp Hill, PA) - See all my reviews
RED MAFIYA by Robert Friedman is a report on some of the figures and actions of the Russian mob in the United States today. Although, there are some claims that this book is "anti-Semitic," the author is himself Jewish. Friedman was a brave author to write and publish this because of the nature of the criminals he is trying to expose.
The Russian mob has been making tremendous headway in its criminal undertakings since it first took root in the 1970's. It is made up of many Soviet emigres who were brought over to the US because of some of their "refugee" status. Many are Jews brought over through the auspices of Jewish aid and refugee organizations. The two largest centers of Russian mob activity are Brighton Beach (in Brooklyn) and Miami. Many of its members are brilliant and highly educated, some holding PhDs in engineering, mathematics and economics. They have been involved in pretty much everything in which illegal money is to be made: the drug trade, prostitution, sex-clubs, gasoline bootlegging to avoid excise taxes, money laundering, arms deals, extortion, possibly rigging NHL games, jewelry theft and smuggling, the list goes on and on...
One of the reasons for the Mafiya's success is that is has two entire countries to base themselves in: Russia and Israel. Russia is completely corrupt with a crumbling economy and infrastructure. Israel offers a safe haven because it does not extradite its citizens and any Jew fleeing peresecution can seek refuge there. Israel also has very lax banking laws, to encourage the income of capital, so billions of dollars have been illegally laundered there over the years. Most of the top players in the Russian mob are Jewish, including Elson, Agron, Nayfeld, Balagula, noted author Yuri Brokhin, politically connected orthodox Rabbi Ronald Greenwald, Ludwig "Tarzan" Fainburg and the most powerful, Semion Mogilevich. Some, like Ivankov, are not Jewish but hold Israeli citizenship. The fact that many of the mobsters are Jewish is mentioned by Friedman as a cause of law-enforcement's lack of motivation in tackling the issue because it would inflame extremly sensitive political interests. Prominient names appear in this book who have had cameos with mobsters--all the way up to Bill Clinton and Al Gore.
Twenty-Five Ways To Suppress Truth:
The Rules of Disinformation
(Includes The 8 Traits of A Disinformationalist)
by H. Michael Sweeney
(Link to this site and these very long articles: http://home.datawest.net/esn-recovery/artcls/disinfo.htm
And a link to a copy on this message board: http://www.investorshub.com/boards/read_msg.asp?message_id=9357758 )
Permission to reprint/distribute hereby granted for any non commercial use provided information reproduced in its entirety and with author information in tact. For more Intel/Shadow government related info, visit the Author's Web site. copyright (c) 1997, 2000, 2001 All rights reserved (Edited June 2001)
...........
Charles Biderman - Founder and Chief Executive Officer
"Price is a function of liquidity and has nothing to do with value."
TRIMTABS INVESTING: Using Liquidity Theory to Beat the Stock Market
By Charles Biderman, with David Santschi
http://www.trimtabs.com/main/book_overview.html
AN OVERVIEW
This book begins by describing how Charles Biderman developed the basic principles of liquidity theory in the wake of his own personal bankruptcy. We argue that the stock market is basically a casino in which the house-public companies and the insiders who run them-buys and sells shares with the players-institutional and individual investors. Stock prices in the stock market casino are primarily a function of liquidity-the supply of stock and the demand for it-rather than fundamental value. Then we outline the building blocks of liquidity theory and show how they can be used to predict the direction of the stock market.
The second section demolishes the conventional Wall Street wisdom that earnings growth drives stock prices. It demonstrates that liquidity carries far more predictive power in the stock market casino than value investing. In further chapters, we show how investors can track the components of liquidity theory using readily-available sources, including Internet sites and financial newspapers. Drawing on years of experience in analyzing stock market liquidity, we explain how investors can use these components to beat the stock market casino.
The third section takes a look back at the past ten years of stock market history. During this period, investors experienced an astonishing range of market conditions, from a secular bull market to a bubble to a brutal bear market to a tentative recovery. This section focuses on liquidity conditions during these tumultuous years and how they influenced the direction of the stock market....(and more at the webpage.)
Welcome to TrimTabs Investment Research
TrimTabs Investment Research is the leading independent institutional research firm providing daily coverage of U.S. stock market liquidity including mutual funds flow, exchange traded funds flow and withheld income and employment tax collections.
Founded by Charles Biderman, TrimTabs has provided institutional investors - including hedge fund managers, market strategists, and portfolio managers - with trading strategies and insights since 1990. Biderman is interviewed regularly on CNBC and Bloomberg and is quoted frequently in the financial media, including Barron's, The Wall Street Journal, and Investor's Business Daily.
The key to understanding the movement of the U.S. stock market is liquidity - the amount of shares available for purchase and the amount of money available to buy them. TrimTabs liquidity research has proven to be a reliable macro indicator on which to base trading and investment decisions.
..
SEC Regulation SHO: http://www.sec.gov/rules/final/34-50103.pdf ......
Articles on reg SHO:
A very important article that just came out about reg SHO...ect...from IBD. Here's the link:
http://www.investors.com/breakingnews.asp?journalid=24896164&brk=1
________________________________________________________________
NCANS (National Coalition Against Naked Short Selling - Failing to Deliver) homepage:
http://www.ncans.net/index.htm
NCANS.net
National Coalition Against Naked Short Selling - Failing to Deliver...***MESSAGEBOARD***
http://www.ncans.net/info/
Description
NCANS ( http://www.ncans.net ) is a grassroots advocacy group composed of small investors who are tired of the predatory hedge funds on Wall Street violating the rules against naked shorting - the "Failing To Deliver" of the shares they sold to unsuspecting investors, who believe that the electronic tick that is represented in their brokerage statement represents a real share, rather than an electronic counterfeit with none of the attendant rights or protections of a real share. We want the regulators to enforce the rules in an impartial manner, not selectively and for the benefit of those who abuse the system.
Why Is Naked Short Selling/Failing To Deliver Such A Big a Deal, and Why Should I Care?...
http://www.ncans.net/whycare.htm
NCANS Member List:
http://www.ncans.net/addmember.php
NCANS Yahoo! Groups message board is here:
http://groups.yahoo.com/group/National_Coalition_Against_Naked_Shorting/messages
________________________________________________________________
Bobo's Sanity Check
.....
Website:http://thesanitycheck.com/Home/tabid/36/Default.aspx
Sanity Check - The Blog:
Link to the Blog: http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/Default.aspx
"Bob O'Brien's Sanity Check Blog
Author: bobo Created: 1/10/2006 10:09 AM
This blog is dedicated to Bob O'Brien's Sanity Check editorials, and discussions about the Market Reform Movement, the SEC, failing to deliver/naked shorting, etc. It was created so that his many detractors and fans can tell him that he is full of it, correct his mistakes, rant and rave, kowtow, preen, or whatever seems appropriate. The only sins are being boring, or inarticulate, or dim."
Welcome to The Sanity Check
This all-new Sanity Check website is intended to be the gathering place for the Market Reform Movement. "Market reform", because all evidence suggests that our U.S. equities markets are out of control, and will either collapse under the weight of their own larceny, or be reformed, and operate in a fair and reasoned manner. The most pressing issue concerning us all is the Naked Short Selling crisis affecting our stock market. This practice is a cancer whose malignancy threatens popular faith in the integrity of the entire market system.
Bob's column will now appear exclusively at this site, under the "Bob's Sanity Check" tab. Other commentators will get their own tabs. CFRN.net has a new forums area where interested individuals can become bloggers themselves, sharing their ideas and observations with others. The Faulking Truth and Investigatethesec.com and NCANS.net will all maintain their own discrete sites, with this portal acting as a supplement to those sites' fine work.
The Law
Rule 15c6-1 http://www.law.uc.edu/CCL/34ActRls/rule15c6-1.html
Rule 15c3-3 http://www.law.uc.edu/CCL/34ActRls/rule15c3-3.html
Section 8 (1934 Act) http://www.law.uc.edu/CCL/34Act/sec8.html
Section 17A (1934 Act) http://www.law.uc.edu/CCL/34Act/sec17A.html
Section 17 (1933 Act) http://www.law.uc.edu/CCL/33Act/sec17.html
Section 20 (1934 Act) http://www.law.uc.edu/CCL/34Act/sec20.html
The Sanity Check Forum & Message Board:
http://www.thesanitycheck.com/Forums/tabid/64/Default.aspx
Bob O'Brien's Sanity Check Blog
http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/Default.aspx
Mark Faulk's Blog
http://www.thesanitycheck.com/Blogs/MarkFaulksBlog/tabid/86/Default.aspx
Dave Patch's Blog
http://www.thesanitycheck.com/Blogs/DavePatchsBlog/tabid/66/Default.aspx
Bob O'Brien's Podcasts
Bob O'Brien's CFRN.net Podcast - #1 ...
Bob O'Brien's CFRN.net Podcast - #2 ...
Bob O'Brien's CFRN.net Podcast #3 ...
Bob O'Brien's CFRN.net Podcast #4 - January 3, 2006 ...
Bud Burrell Podcasts
Bud Burrel's Podcast CFRN.net Series - on R/hand, middle page
Mark Faulk Podcasts
Mark Faulk CFRN.net Podcast #1
Mark Faulk's CFRN.net Podcast #2
Mark Faulk's CFRN.net Podcast #3
Dave Patch Podcasts
Dave Patch's CFRN.net Podcast #1 ...
Dr. Patrick Byrne, OSTK CEO Podcasts
Byrne's Businessjive.com Naked Short Selling 101 primer podcast
Patrick Byrne's CFRN.net Podcast
Patrick Byrne's Second Businessjive.com Interview
(Link to these Podcasts are here: http://www.thesanitycheck.com/Podcasts/tabid/60/Default.aspx )
(Old version/Older posts)
Sanity Ceck website:
http://bobosrevenge.blogspot.com/ 
________________________________________________________________
INVESTIGATE THE SEC.COM
http://www.investigatethesec.com
About us:
We have received several comments from petitioners about who we are and what we are doing. Some understand the issues of Naked Shorting while others are still not fully informed. If you bear with me I will try to answer these questions
Who we are:
Those who organized this petition are a small focus group of investors who have waited patiently for Wall Street to clean up the Naked Shorting issue. We now believe the Regulators are (were) partly to blame for the abuse. Because we are merely average investors, we could not come up with the proper lobby power to fight this in Congress and felt it was time to enlist all those who feel cheated or abused by the Naked Shorting mechanisms. We need all of you to assist us in our fight. We span the globe from East to West Coast of the USA, as well as Canada and Belgium. We are in no way affiliated with any specific company, nor are we affiliated with any short sellers. We do have investments in companies that are fighting this war, although our focus has broadened into a total campaign for all those who have suffered by this abuse
How you can help:
Congress has told me that one of the primary reasons that our issue has not seen the attention we seek is due to a lack of visibility to the issue. Congress is not seeing their constituent's voice concern over this issue and has failed to see any appreciable media attention on this abuse. They are listening and believing what the SEC tells them because that is how Washington operates. You can help enlighten them by doing two things.
First.
Sign this petition and seek out others to do the same. Congress works off the voice of their constituents and we need signatures identifying your dismay at the failures of the SEC. Like any petition, we need the labor force to pass the petitions around. Those laborers are you. When we reach a number that serves our goal we will submit the entire package to Congress for review
Second.
Contact your Congressional Representative (Senate and House) by phone or E-Mail and let them know how you feel. They need to hear it. To locate your Congressman or Senator we have placed a link in the Media Section for your ease. We recommend you also contact the following individuals and let them know you are concerned. In calling these individuals, our message(s) will not be as diluted as are our investments
Lawranne Stewart - House Financial Services (202) 225-4247
Brack Hudson - Senate Banking Committee (202) 224-7391
Members of the House Sub-Committee on Financial Services ( SEC Oversight sub-committee)
http://financialservices.house.gov/members.asp?comm=1
Thank you for your support and welcome to our site. If you have any comments or questions, please pass us an E-mail and we will try to assist you.
DAVE PATCH
Sign the online petiton against Naked Short Selling here:
http://investigatethesec.com/petition.php
________________________________________________________________
The Faulking Truth website...by Mark Faulk:
http://www.faulkingtruth.com/Articles/Investing101/1024.html
Commentary - Jun 7, 2004
- StockGate: A Call To Arms
by Mark Faulk
An Open Letter To All Those Concerned:
Email this article to anyone who will listen:
"StockGate: A Call To Arms"
http://www.faulkingtruth.com/article/?Commentary&1006
Editor's note: If you would like to help us spread the word about this scandal, send us an email at info@faulkingtruth.com , asking to be added to our "Stockgate activist list". We will email you only when we have new articles dealing with this issue. Please link the articles everywhere you can, post them on stock message boards, and send them to the appropriate public entites. To enact positive change requires positive action.
Other articles on the stock market scandal:
"The Berlin Connection?"
www.faulkingtruth.com/article/?Investing101&1004
"Financial Terorism In America"
www.faulkingtruth.com/article/?Investing101&1001
"Is Canada Robbing America Blind?"
www.faulkingtruth.com/article/?Commentary&1001
Post your opinion in our guestbook at http://www.FaulkingTruth.com/GuestBook/
The Faulking Truth Message Board:
http://p097.ezboard.com/bthefaulkingtruth ]
Mark Faulk
The Faulking Truth
info@faulkingtruth.com
Jan 17, 2006
The Circle of Greed: The Only Bull in this Stock Market is a Cash Cow by Mark Faulk
Hedge funds and brokerage firms. It's a match made in Wall Street Heaven. Brokerage firms make their money not by representing their clients, the average investor. They make their money by trading stock. It's that simple. And no one trades more stock that the hedge funds. Between the two of them, they have created some of the wealthiest individuals in America, lining their own pockets with outrageous salaries, unbelievable commissions, and massive bonuses that most Americans can only dream about. And they do it in a stock market where the average investor is still struggling to recoup even a fraction of the losses sustained in the market meltdown of 2000. (For the rest of this article go here: http://www.faulkingtruth.com/Articles/Investing101/1049.html
Mark Faulk is publishing a book on the subject of this board. The book can be pre-ordered here: http://www.theownersgroupinc.com/cart/
________________________________________________________________
http://www.pinksheets.com/index.jsp
Naked Short Selling Letter to Regulators
R. Cromwell Coulson
Chairman & CEO
SEC Public Petition page: http://sec.gov/rules/petitions.shtml
Pink Sheets request is available at: http://sec.gov/rules/petitions/petn4-500.pdf
Comments by other concerned OTC market participants are available at: http://sec.gov/rules/petitions/4-500.shtml
________________________________________________________________
.....
http://cfrn.net/investigates/
Take a look at this site! There's lots of great MP3 files from the best known fighters against naked short selling/fails to deliver (ftd's)/counterfeit shares! At this time (1/8/2006), these hr. or so long interviews are very recent/current!
CFRN - The Christian Financial Radio Network
CFRN INVESTIGATES INTERVIEW ARCHIVE:
Darren Saunders (I just tried to listen to the first 5 of these and the programs couldn't be found. The sixth worked. 1/22/2006 12:19pm) :
http://cfrn.net/investigates/wheresmystock.m3u
http://cfrn.net/investigates/dswallstreetfraud.m3u
http://cfrn.net/investigates/wallstreetfraud2.m3u
http://cfrn.net/investigates/wallstreetfraud3.m3u
http://cfrn.net/investigates/wallstreetfraud4.m3u
http://cfrn.net/investigates/wallstreetfraud7.m3u
http://cfrn.net/investigates/wallstreetfraud10.m3u
Robert "Bob" O'Brien:
http://cfrn.net/investigates/robertobrien.m3u
http://cfrn.net/investigates/robertobrien2.m3u
http://cfrn.net/investigates/robertobrien3.m3u
http://cfrn.net/investigates/robertobrien4.m3u
Jack Donnelly:
http://cfrn.net/investigates/jackdonnelly1.m3u
http://cfrn.net/investigates/jackdonnelly2.m3u
Mark Faulk:
http://cfrn.net/investigates/faulkingtruth.m3u
http://cfrn.net/investigates/faulkingtruth2.m3u
http://cfrn.net/investigates/faulkingtruth3.m3u
http://cfrn.net/investigates/faulkingtruth4.m3u
http://cfrn.net/investigates/faulkingtruth5.m3u
http://cfrn.net/investigates/faulkingtruth6.m3u
Partick Byrne:
http://cfrn.net/investigates/patrickbyrne2.m3u
_____________________
To access the "Burrell Dossier":
http://cfrn.net/forum/forumdisplay.php?fid=87
________________________________________________________________
http://www.counterfeitamerica.com/
Looks like this is another good site on NSS, and they have a " Counterfeit America Discussion Forum"/message board also.
...............................................................................
________________________________________________________________
Counterfeit Conspiracy
"Counterfeiting anything of monetary value in the United States is illegal. Yet shares of stocks involving hundreds or even thousands of companies are counterfeited on a daily basis without penalty. The governing body, the Securities and Exchange Commission (SEC), states that counterfeiting stock shares (also called Naked Short Selling) is NOT Necessarily against federal securities laws. This problem is many times worse than the Enron or Worldcom disasters, with as many as 7,000 businesses bankrupted and tens or hundreds of thousands of American citizen’s investments being destroyed. We ask, why is this crime being allowed to continue?
(link to the rest of this story and related info: http://www.investorshub.com/boards/read_msg.asp?message_id=9451084 )
________________________________________________________________
An excerpt from April 25, 2005 (FinancialWire)
In a commentary, James Cramer, founder of TheStreet.com (NASDAQ: TSCM), cautioned that most small corporate CEOs are easy prey for hustlers.
“For years, when I have met privately with troubled companies, I have told them that under no circumstances should they ever succumb to a bank's wishes to place private equity money into their public structures. I have told them over and over again that the game is so rigged, the people you open up to will short your stock and the people they talk to will short your stock and you will have a vicious spiral down.
“To a person, these managers have criticized me for being paranoid, for being too suspicious and for being, well, nuts.
“Most CEOs have no idea how the stock market works. They are clueless. They have no idea how corrupt it can be, how dangerous it can be. This is a game for card sharps and for hustlers. It is a game where bankers are betting against you as they try to help you, where arbitragers and convertible-bond specialists crush you even as they claim to be in your camp.
“Every once in a while they get nailed; most of the time they get away with it. So they can prey again,” he noted.
________________________________________________________________
IMPORTANT POSTS, ARTICLES AND LINKS FROM THIS MESSAGE BOARD (IN ROUGHLY THE FIRST HALF OF 2005)
http://www.investorshub.com/boards/read_msg.asp?message_id=9399548
________________________________________________________________
..........
http://www.nasaa.org/home/index.cfm
North American Securities Administrators Association, Inc. (NASAA) 2005-11-24
750 First Street, N.E., Suite 1140
Washington, D.C. 20002
________________________________________________________________
The Federal Reserve is
PRIVATELY OWNED
by Thomas D. Schauf
"There is a self-satisfied dogmatism with which mankind at each period of its history
cherishes the delusion of the finality of existing modes of knowledge."
Alfred North Whitehead
Dear American:
Pursuant to your request, I will attempt to clear up questions you have about the Federal Reserve Bank (FED). I spent much time researching the FED and these are the shocking and revealing conclusions.
THE FEDERAL RESERVE BANK IS A PRIVATE COMPANY.
Article 1, Section 8 of the Constitution states that Congress shall have the power to coin (create) money and regulate the value thereof. Today however, the FED, which is a privately owned company, controls and profits by printing money through the Treasury, and regulating its value.
The FED began with approximately 300 people or banks that became owners (stockholders purchasing stock at $100 per share - the stock is not publicly traded) in the Federal Reserve Banking System. They make up an international banking cartel of wealth beyond comparison (Reference 1, 14). The FED banking system collects billions of dollars (Reference 8, 17) in interest annually and distributes the profits to its shareholders. The Congress illegally gave the FED the right to print money (through the Treasury) at no interest to the FED. The FED creates money from nothing, and loans it back to us through banks, and charges interest on our currency. The FED also buys Government debt with money printed on a printing press and charges U.S. taxpayers interest. Many Congressmen and Presidents say this is fraud (Reference 1,2,3,5,17).
Who actually owns the Federal Reserve Central Banks? The ownership of the 12 Central banks, a very well kept secret, has been revealed:
Rothschild Bank of London
Warburg Bank of Hamburg
Rothschild Bank of Berlin
Lehman Brothers of New York
Lazard Brothers of Paris
Kuhn Loeb Bank of New York
Israel Moses Seif Banks of Italy
Goldman, Sachs of New York
Warburg Bank of Amsterdam
Chase Manhattan Bank of New York
(Reference 14, P. 13, Reference 12, P. 152)
Link to the rest of this long article: http://www.worldnewsstand.net/today/articles/fedprivatelyowned.htm
Ming the Mechanic: The unknown 20 trillion dollar company
The NewsLog of Flemming Funch
2003-10-30 17:37
by Flemming Funch
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 litte 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. 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.
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.
An fascinating article about this whole thing is here. I will include it at the bottom too, in case it should disappear. Not that I can vouch for or agree with everything the guy is saying, and some of it is a little whacko, but obviously he's been researching this quite a bit. You'll find very little about it on the net otherwise.
(Link to the rest of this article: http://www.investorshub.com/boards/read_msg.asp?message_id=8923186 )
.....................................http://www.federalreserve.gov/ ..http://www.dtcc.com/ ..http://www.nscc.com/index.html ..http://www.adp.com/
.....
......
......................................................................................
Post#627 I believe "Bob O'Brien" highly recommended this book: Once in Golconda : A True Drama of Wall Street 1920-1938 (Wiley Investment Classics) (Paperback or Hardcover) http://www.amazon.com/gp/product/0471357529/ref=olp_product_details/104-9187136-7471917?%5Fencoding=....
Post#633 (Very Important Repost) From: Lori Livingston May 27, 2005 3:26 PM To: chairmanoffice@sec.gov; marketreg@sec.gov
Subject: Elimination of Stock Certificates
http://www.investorshub.com/boards/read_msg.asp?message_id=9168820
________________________________________________________________
GREAT POST:
Post#435 Posted by: Art2Gecko In reply to: rrufff who wrote msg# 428 Date:11/30/2005 5:03:49 PM
Wow, Great Comment to the SEC here by Dr. Jim DeCosta
http://www.investorshub.com/boards/read_msg.asp?message_id=8690245
________________________________________________________________
Post#620 Posted by: rrufff In reply to: bartermania who wrote msg#618 Date:1/4/2006 8:16:46 AM
Thanks to bullnbear -
DAVE PATCH JANUARY 3RD 2006 NAKED SHORT SELLING
CFRN INVESTIGATES
http://heavensembrace.org/davepatch.mp3
"The Dark Side of the Looking Glass"
Online slide presentations written and narrated by Patrick Byrne.
Slideshow #1: Naked shorting explained
http://www.businessjive.com/nss/darkside.html
Slideshow #2: The depth of the problem
http://www.businessjive.com/nss2/darkside2.html
Interview #3: Market Manipulation for Fun and Profit
28:00 mins 20Mb (Can be downloaded here: http://www.Businessjive.com/ )
Dr. Byrne’s “Dark Side of the Looking Glass” – Epilogue
(Link to this: http://www.businessjive.com/nss4/darkside4.html )
________________________________________________________________
A good SI's message board on Naked Shorting (moderated and started by rrufff) is here:
http://www.siliconinvestor.com/subject.aspx?subjectid=55464
________________________________________________________________
Posted by: rrufff
In reply to: bartermania who wrote msg# 716 Date:1/23/2006 11:08:42 AM
Post #of 717
Open meeting before SEC Commissioners on Monday February 13, 2006 at 10:00AM
An open letter to the American investor from Rod Young - Eagletech CEO
I am requesting the presence of all who have the ability to attend Oral Arguments in front of the SEC commissioners on Monday February 13, 2006 at 10:00AM where I will argue Pro-Se Eagletech Communications, Inc.’s affirmative defense that the SEC has violated the Constitutional 5th Amendment property rights of shareholders by Regulation SHO’s ‘Grandfathering’ of pre-Regulation SHO delivery failures. The SEC has ruled the Company’s publicly traded shares shall be De-Registered for not filing timely reports. That ruling is stayed pending appeal to the full Commission and pending further appeal to the U.S. Federal District Court and its appeal processes.
An astonishing sequence of events has presented us with this unprecedented opportunity! Fifteen minutes eyeball to eyeball with the five Commissioners appointed by the President of the United States to send any message we wish. This isn’t about whether Eagletech Communications filed its reports and everybody knows it! This opportunity to stand before the Commissioners in my opinion may be the first last and only that most of us may ever have. Let’s together figure out a way to use it to our greatest advantage!
This is a public meeting in a 300 person auditorium. Documentary film maker Hugo Cancio has agreed to film this meeting and the Secretary’s office has confirmed that filming such meetings is a common occurrence. The Commission will supply a court reporter; the transcript will be available for purchase the next day. Enforcement division attorney and my opponent Anthony Byrne has told me that Oral Argument hearings are typically available as real time streaming audio on the Commission’s website at www.sec.gov.
Eagletech has alleged in its affirmative defenses that the SEC has illegally taken the property of shareholder’s in violation of the 5th amendment to the U.S. Constitution. By ‘Grandfathering’ pre-regulation SHO delivery failures this agency of our Federal Government has conducted an ‘inverse taking’ of shareholder’s property without due process and without compensation when ‘Grandfathering’ suspended the settlement process which they are mandated to maintain in the Securities Exchange Act of 1934. By Grandfathering and then by De-registering Eagletech shares the SEC has taken shareholder’s property and given it to the criminal perpetrators who have sold counterfeit shares to the public with no intention of, and now no requirement to ever deliver them.
To everyone’s astonishment Administrative Law Judge Kelly gave leave to appeal his decision on this theory (see pages 4 and 5 of his opinion attached to this email).
The SEC’s Enforcement Division has chosen to blatantly ignore evidence of criminal Naked Short Selling misconduct and instead has chosen to sweep the crimes under the rug by De-Registering the Company’s stock. Eagletech has provided to the SEC the following evidence of criminal misconduct:
1 A toxic PIPE financing was organized by five managing directors of Salomon Smith Barney.
2 Ten days after the initial meeting at Salomon’s World Trade Center offices the now convicted Anthony Elgindy and his Short Selling Cartel appeared on chat boards claiming that Eagletech’s was a scam and that its press releases announcing its patent were false. The patent was issued 30 days later as well as a second patent a year later. Within the year Eagletech successfully deployed its technology in the three largest telecommunications markets in the Southeast U.S., making its “Eagle1Call” product available to 9.5 million people who could purchase provision and maintain the product from the Internet in a matter of minutes.
3 Elgindy associate Peter Michaelson testified in the Elgindy trial that he and others routinely contacted the SEC with tips of “Scam Companies” his organization had targeted.
4 Within a few months SEC enforcement attorney Justin Arnold issued a subpoena for information parroting nearly word for word Michaelson’s false allegations.
5 In an article published by author James Cummins, former 15 year former SEC Enforcement Attorney Brent Baker was quoted “For years the SEC was unable to control the infamous ‘pump-and-dump’ schemes of stock market criminals across the country, and actually developed a culture that believed that illegal naked short selling may be a counterbalancing force to the pump-and-dump.” A stunning admission!
6 On July 10, 2002 Forbes Magazine published the first national ‘expose’ of the ‘Naked Short Selling/Toxic Financing’ problem wherein Rod Young and Eagletech Communications were the lead subjects of the article. Three days later Washington DC lobbyist Jack Wynn told me that Steve Forbes was contacted by someone asking him to back off the story. A year later an unconfirmed source identified that someone as then SEC chairman Harvey Pitt. Wynn would later be drafted to author a position paper on the Naked Short Selling scandal for the Busch re-election campaign. They know!
7 Two Licensed Broker/Dealers at the CBOE (Their money ended up in the same escrow account with the five managing directors at Salomon Smith Barney) who didn’t disclose that they were Broker/Dealers invested in the PIPE financing, and began short selling Eagletech stock prior to the closing of the funding (Insider Trading).
8 The New York State Supreme Court granted Eagletech its DTC and NSCC trading records. The unprecedented ruling denied the DTCC’s request for a protective order. NSCC CNS (Continuous Net Settlement) Reports confirm that those short sales failed delivery for 252 trading days (one calendar year), making them illegal Naked Short Sales.
9 DTC participant 5099 reportedly a secret account at the CDS (Canadian Depository for Securities, the CDS is a subsidiary of the DTCC) failed delivery for 212 days. DTC Participant account 5099 is reportedly a special account that clear(s)(ed) through Euroclear for seven Canadian brokerages: Thompson Kernaghan, Wolverton Securities, Global Securities, Pacific International, Canacord Capital, Yorkton Securities, Research Capital, with now defunct TK being replaced by TD Waterhouse.
10 Forensic Economist and former Undersecretary of State Robert Schapiro analyzed three years of Eagletech’s CNS reports. He concluded that 37 DTC Participant firms used the NSCC ‘Stock Borrow Program’ to fail delivery of Eagletech stock in excess of the three day delivery rule and to continue delivery failures for up to 252 trading days. In light of DTCC Deputy General Counsel Larry Thompson’s revelation that the NSCC ‘Stock Borrow Program’ is used to cure only 18% of daily aggregate fails, it could be reasonably concluded that these 37 DTC Participants manipulating Eagletech’s stock represent only the tip of the iceberg, while the other 82% of daily aggregate fails promulgate through the Ex-clearing system.
11 The SEC produced discovery evidence to Eagletech in it’s De-Registration action, 49,489 pages and an electronic trade journal of 43,723 Eagletech trades over a 17 month period. The trading documents chronicle nearly half of the trades during that period were for the proprietary accounts of the Broker/Dealers (Market Makers) presumably using the ‘Bona Fide Market Maker’ exemption. For example: the metrics of a single days trading, May 12, 2000 revealed: 110 persons bought Eagletech stock, 3 persons sold Eagletech Stock totaling 81,934 shares. 18 Broker/Dealers bought or sold Eagletech stock for their own account totaling 300,778 shares. The marketplace reported 176,300 share Volume that day. Assuming there were Zero shares available for sale and those 18 Broker/Dealers used their ‘Bona Fide Market Maker exemption’ to fill the orders there is still a discrepancy of 206,412 shares. Where did they come from? Why weren’t they reported to the Marketplace? How’s that possible? The Metrics for May 15, 2000 are similar. So are the Metrics for May 16, 2000 and on and on and on… This data was supplied by the SEC as discovery in Eagletech’s De-Registration action. When it is put back in their face they won’t even acknowledge it let alone explain it! (See the attached Excel spreadsheet - Note that the workbook file contains 21 separate sheets)
12 In 2002 Eagletech made three official complaints to the SEC that it was being manipulated by illegal Naked Short Selling. The second of those complaints resulted in a meeting with Enforcement Division attorney Justin Arnold at the SEC’s Miami office where Eagletech’s attorneys gave him a three inch binder of evidence showing the manipulation of 200 companies. The third complaint was made by U.S. Congressman Peter Deutsch on behalf of the Company. From the SEC, even being a U.S. Congressman doesn’t get you the courtesy of a response.
13 In January 2004 FBI agents came knocking explaining that a New Jersey labor racketeering investigation turned up manipulation of Eagletech by its first Investment Banker Bryn Mawr Investment who had contracted Colombo family mobster Frank Persico’s Staten Island brokerage firm to sell Eagletech shares. Eagletech’s civil suit had been successful in procuring trading records from Bryn Mawr subsidiary brokerage firm Lloyds Bahamas Securities where the FBI had no jurisdiction. Eagletech’s attorneys freely shared the records with the FBI. Immediately the FBI brought in the SEC, and Enforcement Division attorney Justin Arnold into its now joint investigation.
14 In June of 2004 the SEC announced proposed Regulation SHO to take effect six months later in January 2005. A threshold list of company’s failing 3 day delivery would be established. Non Reporting issues would not appear on the threshold list (Pink Sheet stocks), not a mention of Grandfathering. In July 2004 the SEC announced to the media that they were “preemptively targeting shell companies ripe for manipulation for de-registration” (1300 now Pink Sheet companies almost all manipulated by illegal Naked Short Selling from the OTCBB or NASDAQ). How convenient, the most abused companies in history exempted from the new rule purported to stop such abuse, not because of the lack of transparency cited but because it sweeps the SEC’s culpability in using their own words “delivery failures greater than a company’s total public float” under the rug forever!
15 In an August of 2004 luncheon meeting with a potential witness in Eagletech’s civil case a member of the CIA showed up un-announced to me wanting details of the involvement of Jonathan Curshen and his Costa Rican Offshore asset protection company Red Sea Management in the demise of Eagletech. I was encouraged to write a criminal referral to the U.S. Secret Service who is charged with investigating counterfeiting of corporate securities under 18-USC-514. I authored 15 pages with 100 pages of evidence implicating the SEC and the DTCC as accessories to the crime. That referral was hand delivered to the Secret Service in Washington DC as a courtesy by the agent.
16 The NBC Dateline Debacle. Does anyone doubt the power of the wealthiest entity on earth the DTCC, the real owner of most all of the shares of every company in America, and held for your benefit. OK when they are benevolent, but what about when they manipulate the media, and threaten their detractors. The public doesn’t know it but at least half of the B-roll footage of me was shot after the cancellation of the April 10th scheduled airing. The story you saw on July 31st wasn’t the story ready for broadcast on April 10th. Producer Sharon Hoffman who should have resigned in protest was rewarded with a promotion to senior producer at NBC News a week later. Between 2:48 PM on July 6, 2005 and 7:22 PM on July 31, 2005 I received 11 threatening phone calls, the final one just about five minutes after the conclusion of the Dateline broadcast. You can be sure it wasn’t GE’s attorneys doing due diligence on the story.
17 Grandfathering! The SEC didn’t have the courage to make it a part of regulation SHO. Even they know how much it smells! They leaked it to the press in late December 2004 to an uproar of detractors, many of them still calling for a Constitutional test of their authority to suspend the settlement portion of their Congressional mandate to oversee the maintenance of an efficient clearing and settlement system. To the SEC and the DTCC efficient means de-materialization. De-materialization without transparency (access to short sale data) would be the final step in the perfect crime. I don’t know who to quote, reportedly somebody at NASAA said “Over my Dead Body.” Boo-Yaa!
18 Which brings us back to the subject of this appeal before the Commission; every shareholder of any Company in America who purchased shares and can not get delivery has a cause of action against the SEC as an agency of the U.S. Federal Government for violation of their 5th Amendment Constitutional property rights. An action brought as a Constitutional Tort under the ‘Federal Tort Claims Act’ in multiple Federal District Courts across the country is governed by the State eminent domain law where the shareholder’s property was taken (your home state). There is a multitude of case law in every state in the Union covering illegal inverse taking of property by Governments and their agencies. The governments successful defense using the discretionary exemption from Tort Claims in most cases since the 1947 case ‘Elizabeth Dalehite, et al. v. United States’ does not apply here. The SEC does not have discretion to suspend the settlement process (Grandfathering), even temporarily as they claim. The bottom line is they are vulnerable here. An agency with a strained budget, 1,500 mostly inexperienced attorneys, that brings 500 new enforcement actions per year would crack under the burden of 50 or 100 or 500 Constitutional Tort cases brought against it. The real benefit of such cases would be court ordered discovery of the short selling data that the SEC routinely denies shareholders, issuers and the media, under FOIA (Freedom of Information Act). The first survival of a motion to dismiss could alter the landscape.
In a perfect world: the Sec’s auditorium on February 13th would be filled with a silent lynch mob of aggrieved shareholders (CMKX shareholders welcome), the 13 State Securities Regulators who I would introduce as dignitaries one by one to the Commissioners, CEO’s of other victim companies, the media, congressional staff assistants, and our rock star advocates Byrne, Burell, Patch, Obrien (with or without the rabbit suit), Faulk, DeWayne, and Ferrara. My apologies if I missed somebody. My well rehearsed presentation would have had input from attorneys, State Regulators, and others and would have been released to the media ahead of time. I would have paper hand outs and a CD’s of evidence documents for media and congressional staffers to take away with them. The 13 State NASAA Consortium would be holding a press conference at a nearby hotel at Noon that day announcing their Joint Initiative and possibly the filing of a few cases against the miscreants in a few states. Finally the SEC would admit they are outgunned beg the Senate Banking Committee for help, we get our hearings, new clearing and settlement and Hedge Fund legislation, and a workout plan to settle the trades once and for all.
In the real world: I’ll take what I can get and I’ll soldier on! I encourage and welcome your comments and your help. This is our fight! The future for our children may depend on what we do here today!
Sincerely,
Rodney E. (Rod) Young
Eagletech Communications, Inc.
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=CLB01219&read=298551
UPDATE:
From rrufff's Silicon Investor's board:
From: kknightmcc 2/13/2006 10:32:50 PM
Eagletech's Rodney Young testified before the SEC today.
Listen to the Archived Webcast: February 13, 2006 http://www.connectlive.com/events/secopenmeetings/
Brought to us by NYBob 8/1/2006....Excellent presentation on NSS/FTD's by Patrick Bynre: http://www.businessjive.com/nss/darkside.html
---24 boardmarks here 12/23/2006 9:02am etz USA...anyone else want assist on this board? it doesn't require much work..if, any...just a strong interest on the same side of the issues discussed here. just let me know thanks! when i get my finances straightened out i should be back here and more involved---
|
Posts Today
|
0
|
|
Posts (Total)
|
170
|
|
Posters
|
|
|
Moderator
|
|
|
Assistants
|
AI
