Multi-Billion Dollar Phantom Treasury Bond Scam

Dr. Susanne Trimbath, who heads STP Advisory Services in Omaha, Nebraska and previously worked for the Depository Trust Co, a subsidiary of Depository Trust and Clearing Corp, the U.S. clearing house for stocks and bonds, stated:

"In fall of 2008, about two trillion dollars in Treasury bonds were sold but undelivered for six weeks, more than 20 percent of the daily trading volume, up from 8.6 percent in the first five months of 2008.
"There was excess demand for the Treasuries. Rather than allow this to push the price up, the Federal Reserve Bank of New York and the DTCC allowed failures to deliver to depress the price.
"The numbers look better now because the Fed threw two trillion at the market, which was used to cover these fails."

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