SLP198 Caitlin Long - What Are Austrian Economists Missing About Money And Banking?
Stephan Livera Podcast
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The Depository Trust Company Is a Central Clearing House for the Securities Industry
We are essentially forced into owning i o us in all our financial assets. Many people don't realize that, viz v the dollars we deposit in a bank. That's also true of the securities in our brokers accounts. I don't think there's anything nefarious, per se, about the way the securities industry evolved. It we just didn't have the ability to settle the volume of transactions on a gross basis without creating huge paper work problems.
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