A lot of people are suddenly waking up to The Great Taking, which is reorienting their perspective about the safety and ownership of their assets. A modest amount of investigation and probing reveals that “their” shares and bonds are registered with the entities Cede and Corp and DTCC which are, in fact, part of the ownership structure. The people who thought of themselves as the actual owners are discovering that they are, instead, merely a person who has a “security entitlement” and that the broker(s) handling their shares and bonds may have (probably have) lent those assets out as collateral to other financial entities and players.
Ask the question “who has the senior claim on “my” shares &/or bonds and you are likely to get the runaround. The true answer is that nobody really knows, but it’s probably not you.
This scenario exemplifies a broader issue we’re facing: the struggle to obtain clear, straightforward information from the financial system. It really shouldn’t be this hard.
The reluctance of the system to be transparent is both telling and concerning. We see a pattern of surface-level reassurances, which, upon deeper investigation, often lead to surprising and sometimes unsettling facts.
The implications of these discoveries aren’t just for the financially savvy or the wealthy. They ripple across to every individual engaged in the financial system – which, let’s face it, is all of us. Whether you’re a seasoned investor or just starting to navigate the complexities of financial planning, these revelations have far-reaching consequences.
In this episode of Finance University with Chris & Paul, we will delve into these complexities. We’ll explore the ramifications of the current financial laws and practices, the increasing role of derivatives, and the potential risks they pose. We’ll also examine historical parallels, drawing lessons from the past to better understand our present and future.
But this isn’t just about understanding the problems. It’s also about exploring solutions, strategies to mitigate risks, and steps we can take to navigate this intricate landscape more safely and effectively.
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