Today we’re diving into the nitty-gritty details of those elusive ‘senior claims’. Remember how in part one we discussed the shocking revelation that you don’t actually own your stocks and bonds?
Yeah, that was a shocker for me too.
Instead, you’re just a subordinated claimant with a neutered position as the holder of a ‘security entitlement.’ It’s like you’re forced to play blackjack because the Federal Reserve has made it its mission to slowly destroy the value of your savings via inflation, but there are other people seated at your table who can bet massive amounts secure in the knowledge that if they lose their chips tey can always reach over and help themselves to yours. Bizarre, right?
But hang on, it gets even more intriguing. Those senior claims? They’re mostly held by the big boys – the major banks and financial institutions. As long as ‘they’ hold a “qualified financial contract” (QFC) with the failed brokerage or clearing house, their claims come before yours.
Ad what are these QFC’s? Mainly derivatives, but also margin debt, and virtually anything else you could think of that sounds like a financial instrument.
We’re going to dig into this mystery together, peeling back the layers of legal jargon and financial terminology to uncover the truth. And while we’re at it, let’s not forget about the process of dematerialization, where your private property rights do a Houdini and disappear into thin air. Spooky, huh? But hey, don’t worry. We’re all in this together, so let’s dive in and start connecting the dots.
Hmmm, I’m wondering if the “Great Taking” revelation is part of the impetus for some of the major selling in the market presently going on? Bezos and Dimon have just sold a shit ton of stocks and Neil McCoy Ward is reporting on our venerable representatives are also on a selling spree.
I might be jumping the gun here, but as we really don’t own the shares we should all get out of the game. So they can’t take our ‘third rate claims’. Were to next? Hope you have some ideas Chris.
I’ve noticed with a lot of the ways we are ensnared, there is often a way out if you look for it. They seem to make sure of it, for themselves and their friends.
I’ll give an example, somewhat metaphorical… Last time I was at the New York Philharmonic, I was horrified to see they now have a unisex restroom for all men and women. They were decent enough to make the stalls completely private with big doors. There is a sign outside the doorless entrance which explains in too many words how “this bathroom is for all genders la la la.” There was a long line going in, men and women beside each other. No one looked happy. It looked like a concentration camp, but at least the Nazis separated men and women.
Walberga be like: NO WAY! I said, like the girl in “A Series of Unfortunate Events,” THERE IS ALWAYS SOMETHING. Across from the restroom was a handicapped stall with a sink. I scooted right in there and used it very comfortably and avoided the dehumanization which had been laid out for me.
All the usual suspects are contributors to Lincoln Center. They are executing their agenda to test Western values and destroy the city (the Philharmonic has lost my business forever, thank goodness the Met Opera still has normal restrooms, for now).
PS I’ll give another example, my doc’s office wanted me to give a photo and a palm print, I said NO and that was that, they said OK:) There was also the time in Covidland, when I snuck into the fitting room and cut the cords keeping the stalls closed with my pocketknife. Oh man, that was fun. Sometimes you have to make your way out
Treasury Direct is looking a lot better these days. Does anyone know if Treasury Direct really is “direct”, or perhaps there is a third party involved, such as Cede & Co? I would like to know. It happens that I have a modest amount of PMs in an allocated account, for which I pay a semi-annual fee. Allocated means I own title to the metal as long as I pay the semi-annual storage fee. I’m becoming suspicious, which I feel is wise.
We all know that precious metals, especially gold and silver (but also the other PMs) are heavily manipulated. This is done through the futures markets… which brings me to Bitcoin. Now that Bitcoin futures are now being traded, one cannot help but wonder if this will lead to the same kind of price manipulation we see in Precious metals. Just wondering.
Discussion welcomed. I do not know the answers but I know some of the questions. Chris Martenson is again doing an excellent service. He did a lot of “pro-bono-publica” (i.e., free) work during the Covid plandemic. I hope he is getting a decent financial reward this time around.
You are right to be cautious. Very cautious. We used to have PM’s in allocated accounts at a nationally known vaulting company (First State Depository in Wilmington, DE) which was even used by some big bullion dealers. We got quarterly statements and paid our annual fees. Our IRA administrator was happy. The IRS was happy. In fact it was only IRA regulations by the IRS that forced us to put our assets there. We were getting them out as fast as possible without incurring excessive taxes. We would’ve been free and clear by 2027 at the latest. But then the CFTC finally took legal action over customer complaints we had never heard of. Turns out the owner was defrauding some investors and plain stealing other customers’ metals. I lost all my remaining gold and my wife lost 60% of her silver. Did you know the company’s Lloyds of London insurance on our holdings doesn’t cover fraud and theft by the owner? Fortunately that was just one basket in which we kept our eggs, but it was a big basket.
We are now out of the game in which other people hold any of our assets aside from some “unsecured creditor” working cash in a solid regional bank. We have no debt, no stocks or bonds, and nothing stored “securely” with a “reputable” vaulting company. We’re out of reach of TGT and old fashioned business fraud.
The next big Financial Crisis will be a huge money/asset grab?
What is your favorite Bank Robbery or “Heist” in History?
Now, they’re using the Court system to steal money, like the big [$350] million court judgment in New York against Trump.
Who was the bloke who jumped out of the commercial airplane with a parachute and a big bag of Cash somewhere over rural Oregon and he and the money disappeared? Although, I think that some of the marked bills showed up later? That bloke had Balls….
Lenin and Stalin were Robbers. In fact, Stalin literally did rob banks. And, then, Stalin was empowered to build a big Utopia.
I’ll explain it. He ordered all Americans to exchange their gold for paper, then immediately revalued the gold. In the process he stole $billions from the public at the depths of The Great Depression.
If my memory serves me correctly, FDR gave all the gold to the Federal Reserve and after the gold grab, he revalued gold about $10 bucks higher and of course made it a crime to own gold for the lowly citizen.
Pretty sure FDR also knew about the looming Japanese attack in Hawaii and let it happen so Americans would get riled up for war. When he energy sanctioned Japan, he was begging for a military response. I’m not saying we should have stayed out of the war, but it’s a dirty business getting into war.
This is one of those facts of American history that makes your jaw drop. I didn’t believe it when I first learned it! Between FDR and Nixon, it was illegal for a US citizen to own gold. And all of this was done via executive order.
FDR was a robber because he confiscated everyone’s gold paying market price, then once he had it , he reset the price much higher. I think it went from about 20 bucks to 35 bucks if I remember correctly.
