Tuesday, December 26, 2023

The Great Taking - Vox Popoli

 A short book warns of the sinister, but desperate plan that underlies all of Clown World’s various projects, from the World Economic Forum and the Covid vaxxes to Global Warming, the invasion of Gaza, and Operation Prosperity Guardian.

The Great Taking puts forth a warning that a virtually unknown entity called “The Depository Trust & Clearing Corporation” (DTCC) is effectively the “owner” of all the publicly traded companies in the world, and in fact all debt-based assets of any kind:

“It is about the taking of collateral (all of it), the end game of the current globally synchronous debt accumulation super cycle. This scheme is being executed by long-planned, intelligent design, the audacity and scope of which is difficult for the mind to encompass.

Included are all financial assets and bank deposits, all stocks and bonds; and hence, all underlying property of all public corporations, including all inventories, plant and equipment; land, mineral deposits, inventions and intellectual property. Privately owned personal and real property financed with any amount of debt will likewise be taken, as will the assets of privately owned businesses which have been financed with debt.”

Over the course of the book, the author describes a 50-year process by which ownership of shares in public companies, and all debt collateral has been “dematerialized”.

In the olden days, you invested in a company – they gave you physical share certificates – and you were now part owner of the company. This is still how many value investors including me think of stock ownership.

We’re not invested in all of these companies in The Bitcoin Capitalist Portfolio simply because we’re trying to time the oscillations in the price movements. We think of ourselves as partial owners of these businesses.

Michael Saylor, Brian Armstrong, Mike Novogratz, Frank Holmes, Jamie Leverton et al, aren’t just celebrity CEOs in this space (Bitcoin)… they’re our partners. Granted, we’re the minority partners, silent ones, betting the jockeys and just along for the ride; but we don’t think of these positions as just stock charts and price gyrations – we think of them as businesses in which we are part owners.

At least I do.

According to The Great Taking, author David Rogers Webb, this is not true. We don’t own small pieces of these companies, we own claims on those pieces, because – over the course of decades, through the exigencies of ever-increasing trading volumes, combined with the machinations behind the scenes of diabolical manipulators – stock ownership has been supplanted by “security entitlements”.

Webb posits that when the debt super-cycle culminates in its ultimate blow up; the trap will be sprung, and actual ownership over all these companies and assets will be subsumed by the clearing houses. An infinitesimal cadre of elites will effectively own everything, and the masses of the world will be reduced to serfdom.

It’s not actually that difficult to postulate; I always considered it a patently obvious risk. This is precisely why I have always warned everyone to stay COMPLETELY out of debt. You can look it up. It’s been obvious since 2002 that there is far more debt, and claims of ownership to that debt, than there is of physical collateral for the debt, and that’s before we even take into account any of the conspiracy theories that HUMAN BEINGS or their lifetime economic potential are somehow being utilized as collateral for state currency debt.

As long ago as 2008, it was already estimated that there were $100 of debt claims on every actual $1 of collateral value. That figure is almost certainly higher today.

The global credit economy rests entirely upon the idea that the foundation of debts upon which it rests will never be called in. As Paul Samuelson wrote in what is quite literally the system’s textbook, Economics: An Introductory Analysis, “what difference does it make if Paul owes Peter or Peter owes Paul?”

Well, it makes a tremendous difference if everyone on the planet owes one person, or one small group of people, particularly if the ultimate holder of all debt in the world is an evil, sociopathic devil worshiper with an endless hatred of the human race.

Now, it’s not quite as bad as most of these dire economic conspiracy theorists make things out to be, because as we have been learning since 2015, the Lords of Debt are discovering the limits of money power, as are the nationalist resistance. There is a very good reason that first Iran, then China, and then Russia, all of whom were locked out of the Clown World economy, have gone from seeking to participate in the system to actively waging war against it.

The book’s author appears to have noticed the same thing:

The “control system” has entered collapse. Their power has been based on deception. Their two great powers of deception, money and media, have been extremely energy-efficient means of control. But these powers are now in rampant collapse. This is why they have moved urgently to institute physical control measures. However, physical control is difficult, dangerous and energy-intensive. And so, they are risking all. They are risking being seen. Is this not a sign of desperation?

I suspect that reason for the rise of BRICS and The Great Bifurcation of the global economy is that important and influential individuals in the relevant nations did the math and realized that debt is, at best, a good way to lose everything you own, and at worst, a form of legal slavery. Debt can take down even the largest, oldest companies literally overnight; imagine what it can do to entire nations that find themselves awash in it and vulnerable to physical foreclosures.

Anyhow, read the book, and then focus on what you can do to ensure that when the credit system crashes, either naturally of its own weight or as a result of economic warfare, you do not find yourself stripped of everything you need to survive. And don’t forget that money in the bank is not savings, but rather, debt that the bank owes to you, and which will not be repaid in the event of a bank failure.

It’s true that a lot of economic pessimists, including me, have missed out on tremendous opportunities over the last forty years. However, it is very healthy to live modestly and below one’s potential means, and the probabilities that the Clown World system is coming to an end have never been higher.