Note: This Rant is based on these two articles:
and this article posted today: Steve Quayle: We Won't Escape the Financial Meltdown That's Currently Underway.
For those of you who saw the movie, The Big Short, remember this 4 minute scene when the rating agency told the investors that they were just handing out AAA ratings for the fees, even though the bonds receiving them didn’t deserve it. This was an admission that the bond market was based on fraud. Please remember that the movie was based on fact. Also remember that by Federal law, pension funds must invest in only AAA rated investments. Thus today most of those bonds are still held by pension funds.
Now let’s discuss CUSIP numbers. For big dollar financial instruments, that number is similar to your car title number. It tells the world the true owner and status of that instrument, as to being free and clear or pledged as collateral, paid in full, past due, etc. This information is needed in the event a new party wants to buy it or lend funds against it as collateral.
Five days ago it was discovered that UBS bank defaulted on a bond and rather than reveal that default, the DTCC and SEC erased that CUSIP number. Zap, just like that, the financial instrument no longer exists. My guess is that at the same time a banker died accidentally somewhere for secrecy.
In his interview above (20 minute mark), Quayle said that he was told by an insider that on just one day $150 Billion in bonds were zapped like that. It is not known how long this has been going on or how many banks are doing it.
So what happens to the holder of those financial instruments? We already know that answer. It is being drummed into us that the bankers want to take us to all digital money and merge it with Social Scores. If they succeed they can zap any person and cut him off from his funds, possibly starving him to death. But with the CUSIP numbers, they are currently zapping just the Billion Dollar boys because of their social scores; they expected their $Billion back. Now the Central Banks can survive to continue their con one more day.
This is like a scene from the original 1960s movie Around the World in 80 Days, based on the 1872 story by Jules Verne. Towards the end, a steam ship was racing across the English channel to win the bet. When it ran out of coal they began to cannibalize the ship for wood fuel. It was then a bet as to would they make it to England or die at sea? And like the case of Verne’s Phineas Fogg in 80 days, they are burning the world’s boat.
In our Financial world, it can only be death at sea – the end of the financial world.