Anyone have a TLDR for a Bitcoiner of The Great Taking? Been listening on BTC Audible and it sounds important, but it’s also super dry with corporate accounting jargon.
Discussion
generically, since the 60s the powers have been rigging the code to, first, digitize all securities...
then, with incrementalism, and significantly with the 2008 collapse, it was revealed in court proceedings that one of the big players (was it lehman bros?) argued convincingly that they were the proper owners of the securities - NOT the "beneficiary" -
in this way they have laid the legal framework, with precedent now established in the 2008 crisis court cases, that people do not actually own their own securities...
in a collapse or failure, the assets go to the bank.
The Great Taking refers to an engineered, or not, collapse, in the fallout of which everyone learns they actully legally owned nothing as their assets are seized by the banks.
thats my take...
Ok yea that sounds about right, based on listening to parts 1 and 2.
-IF- they collapse the system, every paper investment (security) goes legally to a central clearinghouse. Everyone else loses.
My 2 sats: When you buy shares in a company, you do not own the shares in that company.
You have a claim on a % of an omnibus account which holds everyone's shares at the DTCC.
And JP Morgan has a superior claim on those shares. If the banking industry experiences stress, then they can claim those shares, and you will be fighting to see what % of the value of your shares you can reclaim.
And to top it all off, credit has claim before equity anyway! 🤣