This short book went viral 2 or 3 weeks ago. I downloaded the PDF (link to the book), glanced at it and dismissed it as someone a little nuts. Now, however, thanks to Greg Hunter who just interviewed the author, David Webb, I need to read it. In the interview below (1:09:41 minutes), I followed Webb, but it was a lot to take in.
Now I understand how Klaus Schwab could say “You’ll own nothing and you’ll be happy” with such confidence. The game is mapped out to the end, is fully in place and is in the late stage of execution. Here’s the interview.
Here is Webb’s own video, The Great Taking – Documentary, from his website (1:11:56 minutes).
Thinking about it if it’s not too late, there are a couple of things you can do.
- First is to reduce your deb if you carry any. Normally I would say to reduce the most expensive (highest interest rate) first. Now I would say give priority to things that you want to keep. If you owe on a house and an RV, you can afford to lose the RV (unless you expect to have to live in it) and save the house.
- Invest in hard assets rather than stocks and bonds. Some gold and silver – buy your country’s 1 oz. coins. In the US it’s the 1 oz. Buffalo. In Canada its the 1 oz. maple Leaf. Don’t store them in a bank safety deposit box. The government can freeze and seize these assets. Remember, your government is your worst enemy. Farmland is recommended if you have the money.
- Have some cash on hand. Also, have some tradable goods like cans of food or (counter intuitively) booze.
- Don’t tell anybody what you are doing unless you really trust them.
When they indeed throw the kill switch there will likely be chaos and digital money (cards may not work). Expect banks to be closed for some time.
Update: 20240206
It is actually simple. When you deposit money in the bank, you no longer own it, the bank does. Instead you hold an unsecured loan for that amount that you can redeem at will, as long as the bank is solvent. The same goes for stocks. When you buy a stock through an agent or broker, the agent owns the stock and your account registers your interest in it, something like an IOU. The agent or broker can then lend the stock to another client for a short sale. The agent might also use the stock as collateral in some other transaction.
You can “sell” the stock at any time in a liquid market and the agent returns the proceeds of the”sale” to your account. The broker or agent doesn’t even have to sell the actual stock as long as he has funds to cover his obligation to you.
You don’t own the stock, the broker does. You have a bookkeeping entry on your account instead. From this you should get the idea that if the broker runs into trouble, your stocks may vanish.
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