Search the Community

As first highlighted on the credit deflation thread, the 'The Great Taking' book by David Rogers Webb is being picked up by finance/macro podcasts. A thread to gather relevant information. Link to free pdf below: https://thegreattaking.com/ _---------------------------- AI summary of the book: Financial crises are deliberately caused – Velocity of Money Collapses Prior to Crises: The velocity of money, which measures how often a unit of currency circulates in the economy, collapsed prior to major financial crises like the Great Depression. This suggests the crises are predictable and avoidable. – Central Banks Tighten Conditions Despite Weakness: In the lead up to financial panics, central banks like the Federal Reserve tightened conditions and allowed banks to fail, despite having power to provide liquidity and avert runs on banks. This deliberate policy worsened crises. – Disinformation Campaigns Confuse Public: Government statistics were deliberately corrupted and false narratives promoted in the media to hide economic weakness, fuel bubbles, and confuse the public prior to engineered crashes. Securities Ownership Has Been Undermined – Dematerialization Enables Confiscation: The process of eliminating paper stock certificates, advocated by the CIA in the 1960s, enabled pooling of securities and weakened investor protections. This allowed client assets to be taken by creditors. – Security Entitlement Replaces Ownership: Legal reforms like changes to the Uniform Commercial Code replaced ownership of securities with weakened “security entitlements” that provide little property rights protection in insolvency. – Collateral Plundered via CSDs and ICSDs: Central Securities Depositories and International Central Securities Depositories were developed to increase mobility of collateral into the derivatives complex for plunder during crises. All Assets Will Be Confiscated and Citizens Enslaved – Bank Holidays Allow Selective Closures: As during the Great Depression, upcoming “bank holidays” will selectively close banks and confiscate deposits, eliminating resistance and funneling assets to elites. – Derivatives System Concentrates Risks: The enormous derivatives complex concentrates systemic risk in undercapitalized clearinghouses and banks designed to collapse, triggering bail-ins that seize client assets. – Central Bank Digital Currencies Impose Total Control: The elimination of cash and imposition of digital currencies will allow unelected central banks to monitor all transactions and engineer conditions that can forcibly divest all property. Those are the key themes and concepts I gathered from my reading of The Great Taking. Let me know if you would like me to elaborate on any part of the summary further. Prologue The author has worked in finance and investing for many years and came to realize that major economic crises are intentionally caused by a secretive group of powerful people who control central banks and the financial system. Their aim is to consolidate power and control humanity through orchestrated economic turmoil and deprivation. The plan involves dematerializing securities so they exist only digitally, eliminating personal ownership rights. This allows assets to be seized easily in a crisis. Legal constructs like “security entitlements” have removed property rights globally. Collapse in monetary velocity, like in the 1930s depression, signals the end of a debt cycle. This collapse is again underway, likely motivating the “Great Reset” plan for a new global economic system benefiting the few. The author aims to explain the hidden machinations leading to another “Great Taking” of public wealth. Introduction Velocity of money has collapsed, just as before major crises in the early 1900s and 1930s. Today’s velocity is lower than during the Great Depression. When money printing fails to create growth, velocity drops. The Fed has created epic bubbles disconnected from the real economy. Velocity won’t recover, presaging an unavoidable depression and “Great Taking” of collateral. Dematerialization Eliminating paper securities in favor of digital “book-entry” systems was a key first step, orchestrated globally by central bankers and governments. This allowed easy confiscation of securities. III. Security Entitlement Securities no longer confer ownership rights. The public has only weak contractual claims that offer no protection in insolvency. meanwhile, laws affirm certain “protected” creditors can seize assets instantly. Legal changes have eliminated centuries of property rights. Publicly owned securities are encumbered for derivatives speculation. Trillions in losses will allow mass seizure of collateral. Harmonization Governments and regulators have pushed to expand collateral for derivatives and remove legal uncertainties globally through laws, treaties and linkage of clearing systems. Local laws upholding investor ownership have been overridden. EU documents show the objectives are increasing collateral assets and legal certainty for creditors. Collateral Management New systems optimize using all securities as collateral. Cross-border sweeps to CCPs are ready for the coming crash. This engineered “demand for collateral” facilitates the Great Taking. Safe Harbor Bankruptcy law changes protect derivatives counterparties. This affirmed the 2008 seizures of client assets by creditors like JPMorgan were legally valid, cementing the plot. VII. Central Clearing Parties Undercapitalized CCPs are designed to fail in a crisis. New entities will immediately take collateral, including from segregated accounts. Quotes confirm the CCP construct guarantees this outcome. VIII. Bank Holiday As in 1933, closures will consolidate banking and confiscate deposits. Crossed rivers of deposits into derivatives subsidiaries allow separate failures. CBDC will restore payments under total surveillance. The Great Deflation Persistent deflation ensures debts can’t be repaid after the “Everything Bubble” pops, facilitating mass seizure of collateral and dramatic increase in centralized control. This is the plan. Conclusion Trillions in losses from centrally engineered bubbles and crisis will allow the Great Taking through predetermined legal and financial mechanisms. But if humanity awakens to the scheme, we can avert this catastrophe. The key points are that a centralized cabal has deliberately engineered global financial instability as a means to eventually implement mass confiscation of wealth, property and collateral during a controlled economic collapse. This will in turn allow unprecedented control over humanity. But exposure of their plan offers hope that the public can resist this outcome and regain control over the financial system if awareness spreads.