this post was submitted on 30 Nov 2023
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DRS Your GME

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De-Occupy Wall Street (deoccupywallst.com)
submitted 11 months ago* (last edited 11 months ago) by AnimorphFan1996@lemmy.whynotdrs.org to c/drs_your_gme@lemmy.whynotdrs.org
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"Wall Street uses money from stocks that regular people have invested in the stock market to hold the 99% down while propping up the 1%. That allows Wall Street to control the media, create division, and hand pick politicians who enforce and create laws that enable Wall Street to widen the wealth gap. The current system is a feedback loop where the more Wall Street takes from you, the more they can fund their ability to take more and more."

"There is a solution, however, and that's by having the American public remove their stocks out of Wall Street's name, and put them in their own. This can be done with just a single phone call to your broker (or advisor), but that secret is so well hidden that no one knows about it nor what it's called. It's called the Direct Registration System (DRS), and by registering your stocks in your own name, we can restore the American dream and take back what is rightfully ours from the system that has held us down for decades."

For more information, please see the website De-Occupy Wall Street.

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[–] chunkystyles@sopuli.xyz 5 points 11 months ago (2 children)

Y'all, this is sovereign citizen level magical thinking.

[–] MozooZ@lemmy.whynotdrs.org 10 points 11 months ago* (last edited 11 months ago)

Ugh, man, I know how you feel and don't necessarily disagree. Bit annoying.

When it comes to this, though, from a historical standpoint and more contemporary standpoint, "Wall Street" has most definitely proven to be filled with individuals and organizations, very possible literal psychopaths in aggregate - who are able to lobby government and propagandize on levels humanity has never seen before. There's never been more money (and power and influence) in fewer hands than right now within the larger Wall Street complex.

This post doesn't do a very good job at making it clear the point: which is if you/your family/friends/etc... hold stocks or retirement funds with a brokerage/retirement fund - those shares are not, unequivocally, in your own name and you do not own them. Full stop.

It's what's known as "street name" ownership: https://www.sec.gov/answers/street.htm which results in gaping loopholes making theft and fraud extremely easy for those interested in that sort of thing.

[–] AnimorphFan1996@lemmy.whynotdrs.org 6 points 11 months ago* (last edited 11 months ago) (1 children)

I know it sounds wild, but it's actually true: an obscure financial institution called Cede and Company technically owns 83% of the stock market all by itself. This includes the stock that regular people like you and me think that we own in our brokerage accounts and retirement plans. You don't have to take my word for it. It's not some conspiracy theory I heard on InfoWars. You can look it up right on Wikipedia with citations back to the SEC:

https://en.wikipedia.org/wiki/Cede_and_Company

[–] Chives@lemmy.whynotdrs.org 5 points 11 months ago

Even crazier - that 83% number was all the way back in 1998, the final year DTC published an updated number for total market ownership.

Considering their rhetoric never changed my money is on the trendline continuing. I bet they're at 95%+ these days (total conjecture).