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Currently simultaneously reading: “The Great Taking”, “The Great Depression: A Diary by Benjamin Roth” and “The Big Print”.

My take out of those 3 books overlayed on top of each other is simple:

Everything is in place for the next “Great Depression, more aptly dubbed “The Great Taking” …

1. The global velocity of money is almost at a stand still (VoM being, IMHO, the best measure of a healthy economy) meaning ‘they’ve’ broken all their toes and can no longer ‘kick the can’.

2. All the legal framework that is required, is now in place globally, to seize all assets that are not both: without encumbrances and securely self custodied.

3. These ‘improved’ legal frameworks, established globally in the past 2-3 decades, have been tested and legal precedent established post GFC.

4. The masses are cowered, divided and nihilistic as demonstrated via

A. Covid sheep response

B. attempting to have interesting conversations with friends, family, acquaintances, work colleagues, strangers about anything that is not in line with mainstream narrative.

C. Global marriage and birth rates

D. Global suicide rates.

Prepare accordingly: NFA

1. Gather self-custodied hard assets: Bitcoin, Gold. Not your keys, not your coins

2. Eradicate any debt and/or leveraged positions

3. Grow your own food

4. If you live in a city, have a fall back position

5. Grow your social capital… this means love and help thy family, friends and neighbours. Even the pre-coiners.

6. Learn to hunt, fish and forage … what wildlife is are plentiful where you reside?

7. Learn to be resourceful…

8. Reduce, reuse, up cycle…

9. Master your mind and find purpose… nothing will kill you faster than nihilism.

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Discussion

Katrine Farrell 7mo ago

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Brisket 7mo ago

Not a good time to take out a Bitcoin backed loan then?

Turtlesallthewaydown⚡️ 7mo ago

All collateral will be forfeited by the “protected class”. That terminology is actually used in some of the legal documents.

So tread carefully. Jack Mallers new Strike loan might be ok but ONLY if Strike is debt free. If Strike rehypothocates your Bitcoin or any Bitcoin to back their subsequent loans (does not matter if customer collateral/assets are segregated or not) your Bitcoin used as collateral for your loan is wholly able to be taken, is how I understand it.

Brisket 7mo ago

From what I understand, it's not just Strike but also whatever custodian Strike are using.

The timing of it all this is difficult.

Turtlesallthewaydown⚡️ 7mo ago

I agree regarding it being both Strike or any intermediary including the custodian.

Yes the timing is tricky. We are acting as if it is imminent. But praying we’ve got a couple of years to unwind some stuff.

I wouldn’t let it stop you from living your life but I would be careful about how much you put up. If it is a small percentage of your overall stack then maybe…

I can’t help but wonder if all the ETFs, corporate and govt treasury BTC reserves etc have been allowed to happen to ensure a decent sized chunk of corn gets caught up in the tradfi blow up. If all the legal framework was in place by the end of 2023, the very sudden regulatory backflip and subsequent ETF approval might have been the last domino in place.

Imagine if we had gone into another “Great Depression” with BTC completely outside of the existing system. The protected class would still have collected heavily on all tradfi assets but they would have been completely without BTC which would have allowed BTC to stand up as a completely neutral form of money without counterparty risk.

Now, with say 10-20% completely captured within the system it is certainly enough for them to price manipulate it through a crisis and make it difficult to transact with in any meaningful market/value discovery kind of way.

Maybe gold for the short term and BTC for the other side???

Reading the Benjamin Roth’s diary provides lots of insights as to how bad things can get. He talks about realestste loosing 90% of its value and people who owned realestate outright demolishing buildings, including hotels so as not to have to pay property tax, which they were unable to pay because all the banks closed and thus their ‘passbook money’ was frozen. Back then tax was charged on the improvements (buildings) not the land. They couldn’t pay the taxes as nobody paid any rent. Nobody could not pay rent as there wasn’t even enough money for food. Over 30% of the people in his town were lining up for charity food. Those that were ‘employed’ in their own business, doctors, lawyers, shop keepers, tradespeople had virtually no customers. Often their few customers had no money to pay so a barter might be struck. It was nuts how low values dropped so BTC would be difficult if tradfi markets were dictating price. Could have value in a close knit circular economy (think Galt’s gulch) were a small productive community self sustaining could set prices amongst themselves.

Jake Woodhouse 5mo ago

LOVE threads like this

Without being aware of the playing field, you’re already making decisions that aren’t optimal

Through brave research, defensive mindset (which in reality is offensive), and direct action, I do believe there are great strategies

Being hyper-vigilant on the systemic risks debt can bring, and ignoring the “leverage is the greatest wealth building tool ever” story pushed by none-other than the guys who sell debt, the case for low counter-party risk, and self-custodial assets becomes very clear

Thanks for sharing

Brisket 5mo ago

Your reply highlighted Turtles reply to me which I had somehow missed.

I think she's on point.

I've come to believe that The Great Takening (as I shall now call it) will be for Bitcoin as well as natural resources.

How long will it take for them to compromise enough UTxOs?

I'm leaning towards 2032 for the execution (previously I had 2028 in mind).

Between now & then, they will need to pump Bitcoin hard.

Turtlesallthewaydown⚡️ 5mo ago

I’ve been letting this marinate for a few weeks now and I agree, it would definitely make sense from a ‘maximising potential reaping’ perspective to let liquidity run riot, massively pump the ‘everything bubble’ before the global rug pull.

Greed and FOMO will see normies, tradfi, crypto bros and even many Bitcoiners leverage to the hilt, which will in turn make sure the greatest possible amount of collateral, including Bitcoin, is custodied within the fiat system ready for the reaping.

I’m still looking for clues as to the timing.

I’ve decided the WEF quote, “You’ll own nothing, and be happy” has had a word redacted from it and actually reads, “you’ll own nothing, and we’ll be happy”

Other clues, they’ve been saying since 2009, that ‘next time, we won’t bail out the banks’ and there has been another clue as to the intentions. It’s alluding me at the moment… Will pop back to this thread when it comes to me.

Turtlesallthewaydown⚡️ 5mo ago

Thanks Jake… also apologies, I haven’t forgotten your invitation, it’s just been super hectic. I’ll jump on soon and book in a time.

ede3d957... 7mo ago

Great take on where we are.

I'd put good OpSec and Monero in the ring as well.

If they can find ties to your Bitcoin transactions they will put you in trouble.

Speak your truth but stay invisible is the secret recipe to survive the next decade.

Turtlesallthewaydown⚡️ 7mo ago

Excellent additional points, thank you 🙏

El Guiri 5mo ago

If you start hearing people commonly calling stable coins "war bonds", might be time up prep tempo

Turtlesallthewaydown⚡️ 5mo ago

I think stable coins are actually close enough a global CBDC, where America is calling the shots for every person silly enough to hold them.

El Guiri 5mo ago

Yes but also some schmuk in a counntry targeted by USA will effectively have backstopped government spending and therefore essentially paid for the bomb that gets dropped on their head. Firsttime in history that the victims of war pay for the munitions

Turtlesallthewaydown⚡️ 5mo ago

Exactly… a global CBDC controlled by and debased by America.

Stable??? Where stable means debasement in sync with USD debasement.