STOP IT! The Great Taking
A documentary film about the greatest financial crime story of known history.The world’s largest banks have put everyone’s stocks and bonds at risk of loss by using them as collateral for their own gain. This film is about the effort to STOP IT, by removing enabling language in Article 8 of the UCC at the state level.
For the last 50 years, the biggest banks in the world have been secretly using everyone’s securities as collateral for their own benefit. Little did you know, your life savings have been posted as collateral on speculative bets made up line in the system.
In the next financial collapse, the “Too Big To Fail” Banks have priority to your stocks and bonds ahead of you.
Direct ownership of a security was substituted with a contractual claim on a security in the 1994 Revision of Article 8 of the Uniform Commercial Code. The secured creditors to the derivatives contracts were given legal priority to your assets ahead of you, in the event those contracts go insolvent.
States across the USA are amending Article 8 of the UCC to restore property rights to securities BEFORE the next collapse.
Subscribe To The Great Taking Report
The Great Taking Report is a monthly exposition of how the world’s largest banks are using everyone’s stocks and bonds as collateral on their own speculative bets. Whether you are an investment advisor, fund manager of any kind, or an individual investor, the securities you manage for your clients are being used as collateral many times over at higher levels of the system and are at risk of loss.
The report breaks down this complex issue into plain language and provides the investment manager with the information they need to know to understand the risks they face, vis-à-vis, their clients. Referencing primary source documents from the Federal Reserve, The Financial Stability Board, The Bank of International Settlements, the IMF, World Bank, legal papers written by the drafters of the Article 8 revision of the UCC and EU regulatory bodies and committees, the monthly report will provide you the references you need to understand the issue and convey the issues to others.
Investment advisors have a fiduciary duty to their clients, and will face legal claims from their clients should the investments they manage are taken as collateral at a higher level at DTCC and the central clearing counter-parties. Understanding this risk is key to managing it, because the way the law is written, all legal claims of clients will be directed to the customer facing investment advisors.
The Great Taking Report is free for state legislators in the United States.
DISCLAIMER: The Great Taking Report is the work of James Patrick. David Webb has helped James with the Report but receives no financial benefit form the Report.