DAILY STAR
If you like a good conspiracy theory then you’ll love the ones surrounding the tiny organisation that owns “all the wealth in the USA“
From Trading Places to Wall Street, Hollywood has long been fascinated with multi-billion dollar secret sleazy dealings.
But, despite their worth, New York-based financial institution Cede and Company has largely kept a relatively low profile with a dozen directors and no more than a half dozen employees.
However, despite its diminutive size the powerful organisation holds, according to some reports, as much as $54 trillion in assets.
This staggering figure has been reached because the firm actually owns 83% of all issued stocks in the United States.
Technically private investors DON’T own the stock they think they own, but rather have contractual rights that are part of a complex chain of rights ending up at Cede and Company.
A complex system of interlocking bodies, such as The Depository Trust & Clearing Corporation, the National Securities Clearing Corporation and the Fixed Income Clearing Corporation oversee all stock trading in the US. They all come under the umbrella of Cede.
The multi-trillion dollar secret works like this: The Depository Trust Company is a private bank for securities. Every other financial organisation in the US, bankers and brokerage houses, is obliged to secure membership with DTC.
Like the Federal Reserve, DTC is a private company entrusted with national responsibility. It processes all stock and paper securities for every US bank and brokerage house.
