![\"\"](\"http:\/\/stateofthenation.co\/wp-content\/uploads\/2023\/11\/ubs_semibold_4c-1024x535.jpg\")
<\/p>\n<\/p>\n
<\/p>\n
Hal Turner Radio Show<\/p>\n
UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Z\u00fcrich and Basel, it maintains a presence in all major financial centers as the largest Swiss banking institution and the largest private bank in the world.\u00a0 Yesterday, UBS appears to have FAILED-TO-DELIVER on Bonds that were due.<\/p>\n
According to rapidly-spreading reports, not only has UBS Failed-to-Deliver on Bonds, but The Depository Trust and Clearing Corporation (DTCC) reportedly took action to COVER-UP the UBS Failure-to-Deliver;\u00a0 DTCC allegedly\u00a0 ***\u00a0 D E L E T E D *** the CUSIP Numbers for those bonds, so as a matter of record,\u00a0those bonds “no longer exist.”\u00a0 \u00a0<\/strong>Apparently, they’re simply “gone.”<\/p>\n Lets begin with some basics.<\/p>\n What is the DTCC?<\/strong><\/p>\n The Depository Trust & Clearing Corporation (DTCC) is an American post-trade financial services company providing clearing and settlement services to the financial markets.<\/p>\n It performs the exchange of\u00a0securities\u00a0on behalf of buyers and sellers and functions as a\u00a0central securities depository\u00a0by providing central custody of securities.<\/p>\n DTCC was established in 1999 as a holding company to combine\u00a0The Depository Trust Company (DTC)\u00a0and National Securities Clearing Corporation (NSCC). User-owned and directed, it automates, centralizes, standardizes, and streamlines processes in the\u00a0capital markets.\u00a0Through its subsidiaries, DTCC provides clearance, settlement, and information services for equities, corporate and municipal\u00a0bonds,\u00a0unit investment trusts, government and\u00a0mortgage-backed\u00a0securities,\u00a0money market\u00a0instruments, and\u00a0over-the-counter\u00a0derivatives. It also manages transactions between\u00a0mutual funds\u00a0and\u00a0insurance\u00a0carriers and their respective investors.<\/p>\n In 2011, DTCC settled the vast majority of securities transactions in the\u00a0United States\u00a0and close to\u00a0$1.7\u00a0quadrillion\u00a0in value worldwide<\/strong>, making it by far the highest financial value processor in the world.\u00a0DTCC operates facilities in the\u00a0New York metropolitan area, and at multiple locations in and outside the United States.<\/p>\n What is a CUSIP Number?<\/strong><\/p>\n CUSIP stands for Committee on Uniform Securities Identification Procedures. \u00a0A CUSIP number identifies most financial instruments, including: stocks of all registered U.S. and Canadian companies, commercial paper, and U.S. government and municipal bonds. \u00a0The CUSIP system (formally known as CUSIP Global Services)\u2014owned by the American Bankers Association and managed by Standard & Poor\u2019s Global Market Intelligence\u2014helps facilitate the clearance and settlement process of securities.<\/p>\n CUSIP numbers consist of nine characters (including letters and numbers) that uniquely identify a company or issuer and the type of financial instrument.\u00a0 A similar system is used to identify foreign securities (CUSIP International Numbering System or CINS).\u00a0 CINS employs the same nine character identifier as CUSIP, but also contains a letter in the first position to signify the issuer’s country or geographic region.<\/p>\n Bond CUSIP Numbers DELETED . . .<\/strong><\/p>\n According to reports coming out from the general public, the DTCC\u00a0 \u00a0*** D E L E T E D *** the CUSIP Numbers for those UBS Bonds.\u00a0 \u00a0Without CUSIP Numbers, there is no bond to buy, sell, or trade.\u00a0 \u00a0It seems, the records of the money . . . are just . . . gone!<\/strong><\/p>\n No CUSIP Number equals no Bond.\u00a0 \u00a0 No Bond equals no money for the Bondholder!<\/strong><\/p>\n When a “Failure-To-Deliver” happens,\u00a0BOTH sides in the transaction are __supposed__ to report it to authorities.\u00a0 \u00a0There are FINES associated with Failure-to-Deliver.\u00a0 For instance, in a transaction with a $50 Million position, the fines are about $4166. PER DAY!<\/p>\n The government implemented these fines back in the year 2009.\u00a0 They implemented them because in the financial crisis of 2008, in October 2008 alone, some $16 TRILLION in Bonds alone, Failed-to-Deliver!<\/p>\n So why would DTCC not report these Failed-To-Deliver Bonds by UBS, and instead, just wipe them off the planet by DELETING the CUSIP Numbers?\u00a0 It’s like the Bonds never existed!<\/strong><\/p>\n Does this mean that UBS just doesn’t have the money?\u00a0 \u00a0 Where did it go?<\/p>\n Does this mean that the financial markets are so corrupted they can actually control DTCC to get DTCC to cover up a massive failure to deliver?\u00a0 Is it so simple that when Bad Actors can’t deliver on their bonds, they can just pick up the phone, call their buddies at DTCC, and have their buddies just ERASE them?\u00a0 Because that’s what appears to have taken place; DTCC appears to have simply ERASED these Bonds as if they never existed.<\/p>\n Oh, and By the way . . . . If they didn’t have the money to pay the bonds, it a safe bet they also don’t have the money to pay the fines, so it seems as though they just had the bonds ERASED by DTCC by deleting the CUSIP Numbers!<\/p>\n What Is Failure To Deliver (FTD)?<\/strong><\/p>\n Failure to deliver (FTD) refers to a situation where one party in a trading contract (whether it’s shares, futures, options, or\u00a0forward contracts) doesn’t deliver on their obligation. Such failures occur when a buyer (the party with a\u00a0long position)\u00a0doesn’t have enough money<\/strong>\u00a0to take delivery and pay for the transaction at settlement.<\/p>\n A failure can also occur when the seller (the party with a short position) does not own all or any of the\u00a0underlying assets\u00a0required at settlement, and so cannot make the delivery.<\/p>\n KEY TAKEAWAYS<\/p>\n Whenever a trade is made, both parties in the transaction are contractually obligated to transfer either cash or assets before the\u00a0settlement date. Subsequently,\u00a0if the transaction is not settled, one side of the transaction has failed to deliver.<\/strong>\u00a0Failure to deliver\u00a0can also\u00a0occur if there is a technical problem in the settlement process carried out by the respective\u00a0clearinghouse.<\/p>\n Failure to deliver is\u00a0critical when discussing\u00a0naked short selling. When naked short selling occurs, an individual agrees to sell a stock that neither they nor their associated broker possess, and the individual has no way to substantiate their access to such shares. The average individual is incapable of doing this kind of trade. However, an individual working as a proprietary trader for a trading firm and risking their own capital may be able. Though it would be considered illegal to do so, some such individuals or institutions may believe the company they short will go out of business, and thus in a naked short sale they may be able to make a profit with no accountability.<\/p>\n Subsequently, the pending failure to deliver creates what are called “phantom shares” in the marketplace, which may dilute the price of the underlying stock. In other words, the buyer on the other side of such trades may own shares, on paper, which\u00a0do not actually exist.<\/p>\n Several potential problems occur when trades don’t settle appropriately due to failure to deliver. Both equity and derivative markets can have a failure to deliver occurrence.<\/p>\n With\u00a0forward contracts, a party with a short position’s failure to deliver can cause significant problems for the party with the\u00a0long position. This\u00a0difficulty\u00a0happens because these contracts often involve substantial volumes of assets that are pertinent to the long position’s business operations.<\/p>\n In business, a seller may pre-sell an item that they do not yet have in their possession. Often this will be due to a delayed shipment from the supplier. When it comes time for the seller to deliver to the buyer, they can’t fulfill the order because the supplier was late. The buyer may cancel the order leaving the seller with a lost sale, useless\u00a0inventory, and the need to deal with the tardy supplier. Meanwhile, the buyer will not have what they need. Remedies include the seller going into the\u00a0market\u00a0to buy the desired goods at what may be higher prices.<\/p>\n The same scenario applies to financial and\u00a0commodity\u00a0instruments.\u00a0Failure to deliver in one part of the chain can impact participants much further down that chain.<\/strong><\/p>\n During the financial crisis of 2008, failures to deliver increased. Much the same as check\u00a0kiting, where someone writes a check but has not yet secured the funds to cover it, sellers did not surrender\u00a0securities\u00a0sold on time. They delayed the process to buy securities at a lower price for delivery.<\/p>\n SEC “FTD” List –\u00a0Concealed\u00a0Since September<\/strong><\/p>\n The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation.<\/p>\n Among its vast reporting to the Public, the SEC provides reports, TWICE A MONTH, of all\u00a0“Failed-To-Deliver (FTD)”<\/strong>\u00a0occurrences.\u00a0 \u00a0They have provided this report, twice a month, for YEARS.<\/p>\n On the First of each month, they report the last two weeks of the prior month.\u00a0 \u00a0On the 15th of each month, they report the second two weeks of each prior month.<\/p>\n In August, 2023, the SEC\u00a0didn’t<\/strong><\/em>\u00a0publish the second report, which would have covered the last two weeks of July, 2023,<\/p>\n Then the SEC\u00a0didn’t<\/strong>\u00a0<\/em>report FTD’s at all for September, October, or even the first two weeks of this month, November!<\/p>\n THE SEC APPEARS TO BE CONCEALING THE FAIL-TO-DELIVER INFORMATION.<\/strong><\/p>\n Here. Look:<\/p>\n ANALYSIS<\/strong><\/p>\n The only reason the SEC is concealing the FTD is because they don’t want the general public knowing who it is that’s failing to deliver.\u00a0 \u00a0It seems to me, and this is just my personal guess, I have no actual facts to back this up, the ONLY reason the SEC would be covering up this information is because the entities that are failing-to-deliver, are “systemically important.”\u00a0 \u00a0You know “too big to fail.”<\/p>\n I interpret the actions taking place by UBS, the DTCC, and the SEC, to be a massive indication that the financial system is in actual, real, un-stoppable, collapse.<\/p>\n The Banks and Securities firms don’t want the public knowing because once the information comes out, they are forced into Bankruptcy and their gravy train is over.\u00a0 The government doesn’t want the public knowing, because once it comes out, and financial institutions go belly-up, the government gets saddled with potentially TRILLIONS of Pay-outs . . . and the US Government is already broke.<\/p>\n So rather than admit the entire financial system is in actual, unstoppable collapse, they appear to be concealing the information, going-on as usual and perhaps intend to keep doing that until the defaults are so massive, the failures-to-deliver as so big, they simply cannot hide it anymore.\u00a0 I suspect, on that day, the system will simply STOP.\u00a0 \u00a0Everything will be shut down.\u00a0 No money. No credit. No nothing.<\/p>\n Once the entire system collapses, the planet goes into the single most massive economic depression in the history of human existence.\u00a0 People’s pensions, IRA’s bank accounts, are all wiped out.<\/p>\n I believe it would likely cause violent mayhem.\u00a0 I suspect there would be bloodshed on a level never before seen, as angry citizens, who have lost everything they worked for, hunt down, ambush, and intentionally kill, all the people who did this.\u00a0 If such “street justice” were to take place, I wouldn’t shed a tear for those killed; I would simply think “they brought it all on themselves.”<\/p>\n Folks, it seems to me, this does not end well . . . and in my personal opinion, the end is very, very, near.<\/p>\n I am not a licensed financial professional and I cannot give financial advice. You should not make\u00a0any\u00a0financial decisions based on my reporting.\u00a0 You should consult with a licensed financial professional before making any financial decisions or transactions.<\/strong><\/p>\n I can, however, report the news and to me, THIS is news.<\/p>\n For me personally, I am taking my money OUT of their systems.\u00a0 Cash.\u00a0 \u00a0As much as I can get each day, every day, until it’s out.<\/p>\n I don’t have much.\u00a0 But what I have, I worked hard to get.\u00a0 I am not going to let what appears to me to be a totally corrupt system, rob me of what I worked so hard to earn.<\/p>\n<\/div>\n\n
Understanding Failure To Deliver<\/h2>\n
Chain Reactions of Failure to Deliver Events<\/h2>\n
![\"\"](\"http:\/\/stateofthenation.co\/wp-content\/uploads\/2023\/11\/Screen-Shot-2023-11-23-at-11.29.33-AM.png\")
<\/p>\n