Latest / Man in America Podcast / Trump, Elon, CBDCs, Digital Prison & the Great Taking w/ James Patrick

Transcript

Trump, Elon, CBDCs, Digital Prison & the Great Taking w/ James Patrick · Man in America Podcast

0:13
Seth Holehouse: Ladies and gentlemen, welcome to Man in America. I'm your host, Seth Hullhouse. So while there have been some pretty significant and actually quite encouraging things happening here in America lately, there are some topics and some issues that still, in my opinion, are a great cause for concern. And I think a lot of these major issues are end up being tied to money and the economy. And so if you recall, I interviewed a gentleman named, David Webb, who was the person behind Great Taking.
0:41
It was a documentary and book that he put out, which described basically how the banking and these massive financial institutions have taken all of our assets and put them into these groupings, and, you know, they've got derivatives, and it's really complicated stuff. But fundamentally, what's happened, though, is they've made these changes so that if there's a economic collapse or, you know, significant event like that, that those assets are seized from us, even things that we think that we own. And then if you take that and you combine that with the threat of a central bank digital currency, digital ID, there's a lot to be concerned about. And so while there's some great things happening, I'm trying to keep an an eagle eye on what's happening as it relates to our assets, central bank digital currency, digital privacy, etcetera. Because if you look at Elon Musk and Peter Thiel and, you know, some of these big, you know, billionaires, they are tied into a lot of the technology that could be used against us.
1:37
Now I wanna have faith and hope that it won't be, but it doesn't mean I'm not gonna be vigilant with looking at these things. So joining me today is James Patrick, a filmmaker and a just very, very bright person who's working very closely with David Webb. And James is gonna be explaining to us what he's seeing and what he's focusing on as it relates to central bank digital currency, the great taking of our assets and our own freedom. So, folks, please enjoy interview. Mister James Patrick, it was great meeting you at the Reawaken tour, and we talked about having you come on my show, and here we are.
2:07
So thank you so much for being here. It's, great to have you on the show.
2:11
Speaker 2: Great. Thank you for having me.
2:12
Seth Holehouse: Yeah. So there's there's so much going on right now, and there's a lot that we could, dive into. But the reason why I I kinda came to you during that, you know, the reawaken was that your presentation I found to be very, very just important, you know, getting into the great taking and and look understanding the role of, you know, currency and assets and how this relates to our own freedom and the idea of, you know, will we be owning nothing and and be happy as they tell us, but also in getting into digital currency. And and what we're seeing is that, you know, with with Trump winning the election and a lot of these picks, especially with, you know, Elon Musk, who's kind of like the, you know, the, you know, the Tony Stark. He's he's he's the billionaire, you know, tech mogul, which, you know, there's a lot of things that seem very good about what he's doing, but I'm also very cautious that this guy's also putting chips in people's heads and, you know, wants to have an app that, you know, kinda reminds me too closely of what WeChat is in China, which is the everything app that, you know, where your social credit score is tied to and everything like that.
3:11
So I I feel a lot of excitement and energy, but I'm also I'm not letting up on the fact that there's a lot of things that we don't see that we don't really aren't aware of that we have to be really aware of. So I guess diving into you've got a documentary coming out soon about CBDC, and I wanna play the trailer for that, but I'll I'll first let you kinda respond to my initial comments, then we'll dive into the trailer and kinda have our discussion.
3:35
Speaker 2: Yeah. I think well, there's two two films I'm working on coming out with, both of them within a month or month and a half. It's on one on central bank digital currencies called CBDC, the end of money, and another one on the great taking called stop it, the great taking. So these two issues do intersect in the future of money, finance, or assets. And so I'm sitting in the middle of those topics now.
4:03
So we can talk about it. The CBDCs and digital IDs are sort of parallel projects that have to come into coagulation, or what do you want call it, solidified to get each other to work. We need to be ID'd and tagged and linked to a wallet to get those systems to work. And then I don't think anyone's going to really want those things to happen unless so then there's this seizing of all assets, the undermining of our property rights, all securities worldwide since forty years now. It's sort of just been coming out with David's book on the great taking, and now there's legislative efforts to to stop it.
4:49
So, yeah, I can get into the nitty gritty of of all these topics here.
4:53
Seth Holehouse: Which which we will. So how about let's just start my I'm gonna play the trailer for CBDC, the end of money. So let me get this gonna play this, and then this will kinda really help set the stage for our our discussion.
5:05
Speaker 2: States Federal Reserve is considering the creation of a digital dollar.
5:10
Speaker 3: The important thing to understand about CBDC is that it's not a currency. It's a control system. This is the elimination of the underground economy. If we lose cash, our money is getting locked into the banking system.
5:24
Speaker 4: The decision will definitely been made be made to launch the CBDC and to make it a reality.
5:31
Speaker 5: CBDCs is the next step closer to a social credit score. A digital ID system could be operating between governments and the private sector as soon as next year.
5:50
Speaker 4: In order to introduce CBDCs, you need digital IDs. So there is a direct connection there to these COVID policies.
5:56
Speaker 6: Canadian prime minister Justin Trudeau invoking emergency powers against the truckers who are protesting vaccine mandates. Banks can now freeze their personal accounts.
6:05
Speaker 5: We were never charged. There was never a warrant for our arrest. You're dead in the water at this point. You're unable to put fuel in your car, food in your mouth. What you're seeing is the banks in this country have been deputized into law enforcement.
6:19
We're lucky that at this point we still have cash that we can rely
6:25
Speaker 3: Nigeria was they made them the test case for the CBDCs, which is a complete disaster. It turned into burning banks and riots.
6:34
Speaker 7: We all are citizens. We only came to at least plead with the bank. Police came out of the central bank,
6:44
Speaker 4: Do we want to live in such a society where a small group of central planners have this extraordinary power over everyone's lives? Tyranny, starvation, impoverishment, that could be the result. We have to stop it.
7:03
Speaker 2: Sorta took the music out of there, but yeah.
7:07
Seth Holehouse: So this is really important, and I I CBDC is is it's a topic I've been focusing on for a couple of years now that I personally look at as being the greatest threat to our freedom. I mean, it's, you know, the combination of CBDC and digital ID. I've also I've studied a lot of information about communist China. And in looking at how they rule their citizens over there, it's really through social credit score and also their their, you know, their banking system being controlled by that. So, you know, if if you make a post criticizing Xi Jinping and you wanna go get a a loan for a house or get a mortgage, you will actually be denied potentially because of that post you made.
7:45
So it's all tied together. So where do you see where do you see The Us being at in in the potential rollout of a CBDC and a digital ID? Like, what are the things that you're watching and that you're really focused on that are kind of raising alarm for you?
8:03
Speaker 2: Yeah. I think there's two different but connected issues, the digital IDs and the CBDC. So let me just address the digital IDs first, is that this sort of biometric identifying everyone, linking your your eye, your finger, your your face, the the the video recognition of your biometric, the way your face is shaped has come a long way. I remember I had a friend in college fifteen years ago or twenty years ago now. He was like he was working on facial recognition.
8:35
It was, like, pretty clunky. You know? And now it's, like, really they can see you from a a a camera a hundred feet away and then pretty much verify that's you walking there. Had a friend tell me who works for the government. He said, oh, when you get into Dulles Airport in DC, you're on the camera over 20 times before you get to the passport control.
8:57
And they already know it's you, and you're off the plane and preapprove you or flag you for questioning. So it's like, I don't think we can escape this ubiquitous panopticon of biometric IDs. We already have a biometric ID file, even if you didn't give your fingerprint. So that's quite disturbing right there that that's already in place. They've already linked all of our IDs with our biometric, the shape of our face and all this stuff.
9:23
And so I don't think there is a weight off out of that. So that's a little depressing. I put that aside. We had a patriotic privacy centered leader, I would try to dismantle some of those systems to roll back that. But it's being done in this decentralized fashion.
9:47
So it's like the Gates Foundation, Rockefeller Foundation have funded these sort of decentralized database ID recording criteria. So it's not housed at the government. It's housed in public, private, cloud based way to subvert our civil rights. So it's not the government housing these systems. Because then we could say, hey, government, why are you doing that?
10:16
It's violating our rights. So instead, what they did, the Gates Foundation wrote all the protocols and criteria by which public and private organizations, companies, agencies report to. They
10:29
Seth Holehouse: have
10:29
Speaker 2: the same standards and protocols to report the digital ID systems to these cloud based, nongovernmental, nonprivate sort of in between things so they can screw us and take our rights away. So that's really disturbing to me. And I don't know what to tell people how to undo that because it's just sort of coming from all angles through. Now, it really irritates crap out of me when you log into a site now and they're like, well, what verify your face and all this stuff. It's like, don't want to do that.
10:56
Well, like, I bought a software to put this just to link the audio in the video. If three, four years ago now, I went to go buy it again. They want to verify my face identity just to buy a software online. I mean, it's just insane. That stuff's just coming from all angles.
11:12
And I don't really know what to tell people about that. Under the CBDCs, other than just have awareness of it and try to avoid it or not give business to people or complain about it. But I just see that coming, and I don't know a way around stopping that. But on the central bank digital currency issue, it's sort of a central bank issued crypto money to replace the dollar, yen, euro, shekel, whatever, and to make a government public I mean, the central banks are sort of publicprivate. The central bankers sort of figured out a way to embed themselves in this sort of also quasi public private position where they issue our money and kind of get the benefits of being government and the benefits of being private to screw us or scam us with the money system in different sort of ways.
12:05
So in The US, UK, and some other Western countries, there are constitutional bars to introducing a CBDC. And I don't think it will have a direct CBDC issue in US or UK. But in all the BRICS countries, they're moving forward with it, a direct issue government CBDC. So I just want to clarify my position that it's very obvious that all the world's governments are controlled by the same people. We're living in a one world government already, but we think we're in countries.
12:38
So it's like we have this one world company, and this blob owns all the companies, the NGOs, the medical, military, the governments. I mean, it's just sort of like and then we're we're played this theater show. It's sort of like 1984 where they're like, oh, East Asia's First Eurasia. And, like, people are just kinda, like, told that there's this war going on. And I get I just get that feeling a lot when I see the war with Russia or, you know, Israel's starting a world war here, and then we're we're all gonna get wrapped up in this East versus West, gagging magog, all consuming war.
13:14
This is my primary concern right now is all this. So stop me if at any point if you want. But the but the CDCs are really coming in quickly, but I think there are constitutional bars, so that's good. It will will take more time or it could be stopped in the West. But we have the threat of private issues, stablecoins, sort of bank dollar derivatives, that if the government starts to scrutinize their free speech, like with antisemitism laws or other sort of things that they're talking about.
13:45
Or eco, it could go in an eco direction that you're not green enough, you're not eco friendly enough, and we're going to restrict your right to buy or sell or shop outside your fifteen minute zone. Sort of a number of ways. Or the Bank AML KYC, the anti money laundering know your customer regulations. We see the ratcheting up of these restrictions on freedom of transacting. So, oh, like, oh, you wanna send $2,000 now?
14:16
You have to get approved. You know? I just set up a PayPal account for some charity. They froze. It's, $600.
14:21
I can't get out of there because I have to show 15 documents to prove where $500 came from. I mean, it's just like so we we could just see the ratcheting up of the of the normal regulatory infrastructure, and then the to the point that it achieves something like a CVDC system that we're fearing.
14:41
Seth Holehouse: Folks, we all see it. Everything's getting more expensive. We're paying two, three, four times what things cost just a few years ago. And we know they're lying. 3% inflation, really?
14:53
Think about it. Why are they telling us to keep our hard earned money in the banks and stock market while they're rushing to buy gold and silver? That's right. Governments and central banks around the world are dumping the dollar and scrambling to buy gold and silver right now. These are smart people.
15:10
They see the signs just like you do. They know the crash is coming. The dollar has lost more than half its value in the last five years, and our national debt's increasing a trillion dollars every hundred days. It can't go on like this. Even Bank of America's warning about a dollar collapse.
15:29
And if they're right, it's only a matter of time before our savings, our IRAs, and our four zero one k's could be wiped out. Look. Right now, it's still easy to buy gold and silver, but in the future, it may not be. Experts are saying that prices will keep surging, and UBS says that gold could even go up to $5,000 an ounce. Noble Gold's phones have been ringing off the hook because the folks who get it are wasting time.
15:54
Now, I can't tell you what to do with your hard earned money, but I can tell you that even if just some of your savings are in gold and silver, you can rest assured that money is safe. So call Noble Gold and protect your wealth today. It's better to be six months early than one day late. So call Noble Gold today at (626) 654-1906 or visit goldwithseth.com and set up your free wealth consultation. The phone number and the websites are also in the show's description.
16:28
Speaker 2: If that makes sense.
16:29
Seth Holehouse: No. It does. It does. And and I've I've I've worried about a lot of these similar things. And even, you know you know, you know, I I use a handful of different banks.
16:38
Right? You know, I have, you know, a regional bank. I've got a bigger bank that's, you know, better for international or, you know, or bank wires, etcetera. And I I know that, you know, it used to be that you you go into the bank, you pull some money out, no big, you know, no big deal. But, you know, like, I'm know, we bought a house recently, I've got a lot of contractors, and I typically pay them cash.
16:54
Right? So it's, you know, 2,000 here, a thousand there, whatever it is. And so if I go to go to a bank, you know, you know, and I say, hey. You know, can I pull out $3,000 cash? You get grilled.
17:05
They're like, so what is your profession? And, you know, they ask these questions. I usually joke with them. I say, I I'm I'm a drug dealer. I say it real straight, and I I kinda I kinda joke a little bit.
17:13
Was like, oh, I'm a mercenary. Right? And then they kinda kinda and then I laugh it off, and I sound like was paying contractors. I have fun with it, but the thing is is that it's like, well, this is my money. Right?
17:23
It's almost like if I lend you my my Milwaukee drill, and I come back to you and say, hey. Can I get can I get my drill back? And you're like, well, why do you need it? It's like, well, what do you it doesn't matter why I need it. It's my drill.
17:32
I lent it to you to to to use, and this is it's it's concerning. It it's really concerning to me because you can see it encroaching everywhere, and and even with, know, like, iPhone. Like, I've got the new iPhone because I do a lot of video work, and I it's you know, there's a lot of reasons, but it's like everything now is built around the the face ID and the face scanning. And I think that for people to think, well, it's it's kept private and secure. It's it's, you know, it's almost like, you know, I might kind of offend a lot of the the viewers here, but even Bitcoin.
18:01
I don't trust Bitcoin. Like, I think that Bitcoin is something that we we think is so safe and secure, but it's like, you know, if if you look at a lot of military technology, you know, even some basic research will show you that, yeah, they're they're twenty, thirty, fifty years further in advancing their military technology than what the public perceives. And it's like, so we we really think that there's not some, like, NSA supercomputer that's monitoring the blockchain that actually sees through everything, and it's like, well, you know, maybe so. That's why I'm just I'm an old school guy. You know, it's like if I have a lot of money, I'm buying some silver coins.
18:36
I'm buying some some brass, right, to defend the silver coins, and I'm buying some seeds and some food, and that's just how I do things. But
18:43
Speaker 2: Get some brass and lead to defend the silver.
18:45
Seth Holehouse: That's basically it. Exactly. Exactly. Yeah.
18:49
Speaker 2: So,
18:50
Seth Holehouse: you know and and how you and how you see this all coming together, I I know that, you know, you've done some deep dives into, David Webb's work. And I I've interviewed David Webb, you know, about The Great Taking, and, you know, I think these are these are things that are much larger than, I think, just your your the left right dynamic or the Kabuki Theater in DC. I mean, these are, I feel like in a lot of ways that there's, you know, like, these kind of what, you know, Martin Armstrong, who I see in the in your documentary is one of favorite guests to interview because he's not looking at, like, oh, how is this four years different than the last four years? He's looking at, like, the historical cycles of the rise and fall of fiat currencies, the rise and fall of civilizations and of empires, and I feel like that a lot of what we're being set up for is some sort of a very significant crash. Like, that's my sense is that all the signs point to the end of the dollar, you know, the collapse of the fiat currency, the overprinting, the debt.
19:43
Speaker 2: I don't know if it'll be the end of the dollar. I think that that sort of played to the right a lot. And I see the I see there there's, like, mainstream propaganda to feed the feed the chickens. You know? And then you have then there's sort of, like, all this right this, like, alternative media or more conservative right propaganda that there's, like, different propaganda that is put out to address different demographics and and kind of prep them for where they're where they wanna take us.
20:09
So let me let me just read one fun, interesting quote from Carol Quigley in his and Hope, A History of the World at Our Time. So he was an advisor to or he was a Georgetown University professor and a mentor of Clinton. But he's one of the few authors from Ivy League academics that said, oh, well, these international banking interests are running all the governments like their property. So he said, quote, The argument that the two parties should represent opposed ideals and policies, one, and perhaps the right and the other, the left, is a foolish idea acceptable only to doctrinaire and academic thinkers. Instead, the two parties should be almost identical so that the American people can throw the rascals out at any election without leading to any profound or extensive shifts in policy.
20:55
So this concerns me. This is what's going on now. We had Trump really get a mandate to drain the swamp last time. Now it's sort of like, I don't know, restore freedom of speech except on Israel. Or there's just some of these these sort of like, where is are we getting played here?
21:16
And, you know, I mean, I just get very concerned that that we're just living in a kabuki. I call it kind of the kabuki dance. They're like they're like, oh, there's these different sides and there's these different countries, but, like, we always just keep moving towards these policies. And there's there's just these glaring contradictions. You know?
21:33
Like, you brought up Peter Thiel, but he's got a he's a libertarian. And, you know, I went to some libertarian conferences that he he was attending too, and it was like, what he but the guy's got a police state company that's there building all the high-tech most high-tech, like, evil crap you could imagine or or similar concerns with Elon Musk and stuff. So what you know, what are are we really was there really this big win the other day, or or are we just getting played and then to to kind of let the guard of the con let the conservatives have their guard down? Like, I was very concerned with Trump. You know?
22:11
He said a lot of great things in his first administration. He sent a lot of nice tweets. But in the end, we got Operation Warp Speed. He didn't really oppose these lockdowns, the vaccines mandates. He went around marketing the vaccines.
22:24
Now he put RFK in appointed yesterday. Is that legitimate? Both these guys are on Epstein's jets. Are we getting played here? Is this a legitimate thing, or are we just getting placated to let our guard down and let us accept?
22:43
Like, I I just I yeah. Anyway, I so we can still stick on the CBDCs.
22:50
Seth Holehouse: No. But I I I think it's important now, and this is something that I I forget the exact the exact quote of of just the one of the, you know, one of founding fathers talking about, you know, the eternal vigilance. Right? You know, eternal Yeah. Vigilance.
23:04
And that's the thing is that we we can't let our guard down. We we can't think, oh, well, you know, we got Trump and RFK and Elon and and and just and just kinda sit back and relax. I mean, we have to, like, you know, we we, I guess, you could say we elected them, right, in in some some form that, you know, kinda played out like that, though I think that, you know, elections are are rigged beyond beyond our own belief of of how rigged they are. But, you know, we still have to I do believe, that if you go back to, say, Gustave LeBron, right, you know, the the crowd that even they've understood for centuries
23:37
Speaker 2: I got it. That His books here.
23:38
Seth Holehouse: Yeah. Yeah. There it's it's on my shelf as well. Right? They they they they've known for centuries that the the power of the masses is the one thing that's the most important thing to control, and if the if the rise and fall of empires is actually dictated, you know, not by some leader, but actually by a shift in the overall thinking of the people.
23:54
And that's that's what does give me hope amidst all this. I do think there's a big shift, but we can't we can't allow ourselves to drop our guard and think, oh, okay. We're we're safe now because, you know, Elon Musk, as as an example, I like a lot of the things that he says. Like, who wouldn't? Right?
24:10
You you know, you know, he supports the second amendment, and you look at, you know, Twitter's change, obviously, you know, drastically, I think, in in in a lot of good ways. So I'm concerned about his kinda everything app of x. I'm concerned about robots and AI and automation, and that that's a whole different topic.
24:25
Speaker 2: What about his ex wife's post about communism and AI? I mean, that was like Yeah. He was he was, like, sleeping, having pillow talk with this woman for years. And, like and why? That that wasn't a topic of conversation between them?
24:37
I mean, like like Yeah. That is a very different kind of mindset than the stuff he's saying.
24:42
Seth Holehouse: It is. It is. So getting into the great taking, and this is something that I was really interested in in your presentation. You know, my my thinking, my approach is that I'm trying to take as many of my assets and the important things I have and and offline them. Right?
25:00
So so again, it's like, you know, it's it's a piece of silver, you know, right here. You know, as far as I know, the government doesn't know that I have this single piece of silver, though that has told them on a, you know, on a on a, you know, livestream or whatever that's going out there. But to me, this is the only thing I feel safe with, in terms of of currency or some cash. Right? You know?
25:18
So but getting into the great taking because, you know, I I live in a a house that, is is mortgage. I'm paying off a mortgage. We just bought a house. I'm not a you know, I don't own stocks. Right?
25:28
But a lot of our a lot of the folks do. They've got IRAs. They've got all of these assets that they've they've trusted the system with. You know, they've they've trusted these financial custodians to to hold them and give them
25:39
Speaker 2: you know?
25:40
Seth Holehouse: And so for people that are looking at, like like, if you had to summarize, I guess, in part of the conversation, if you had to summarize, say, you know, in a kind of brief way, what the great taking really is about, and then how do we get out of that? How do we escape that? How would you how would you present that information?
26:01
Speaker 2: Okay. Yeah. I'll do that. And I just sent you a image if you could pull it up in in a second. But there's basically that since this nineteen seventies in the in the sixties, '19 '60 '8, they claimed, oh, all the paperwork of all the stocks and bonds are so complicated to to have.
26:19
So let's let's put all securities in a pooled form in Deposit Trust Clearing Corporation nineteen seventy three. Five years later, they put them in pooled form. And then that same year, JPMorgan, made the EuroClear in Belgium. So since 1973, they created these central clearing houses to house all securities, and they immobilized them and put them in street name. So now when you buy a stock at a broker the custodian, they just have a bookkeeping entry.
26:48
They're kept in pooled form up at these central clearinghouses. Then from there, the financial services industry started to play with the stocks and bonds out of the central clearinghouses through different mechanisms. But basically, by the eighties, bankers had told me I'm doing a doctorate on this and writing some academic papers on it as well. That since the eighties, they started a whole whole hog just using everyone's stocks and bonds as collateral. And then really 1990s, '19 '90 '4, Article eight revision of the Uniform Commercial, could they legalize this practice and created the securities entitlement concept to say, well, you're not really the direct owner.
27:25
You're not the legal owner of your own stocks or bonds. You're securities a contractual claimant on a stock or bond. And the the when they get encumbered into these derivatives contracts, and this is collateral in these collateral chains so that that then the secured creditors of the derivatives contracts, in the event this whole derivatives balloon goes down, the bubble goes down, the secured creditors of all these derivatives contracts have priority ahead of the the secure the the the people who own their stocks and bonds, your your stocks and bonds are getting encumbered 10 15 to 20 times over in in this in these collateral chains. And then when that goes bust, they can sweep your underlying collateral. So that's the you'll own nothing and be happy.
28:12
So sorry. Put the slide up one second. Oh, yeah. Can explain it. Basically, there's $130,000,000,000,000 in Deposit Trust Clearing Corporation and Euroclear.
28:23
There's like 89,000,000,000,000 or 85,000,000,000,000 of stocks and bonds in Deposit Trust Clearing Corporation and €37,000,000,000,000 worth of securities in Europe. There's $130,000,000,000,000 of stocks and bonds in the markets. Now the global the the financial service industry has created a 2 quadrillion dollar derivatives complex using that underlying 130,000,000,000,000 15 to 20 times over. And when that so I made this upside down pyramid diagram to try to convey it that that that all this hundred and 30,000,000,000,000 is the collateral base and then the the ballooning up of these servers. Now when the derivatives market has any when the when with the prices go down, there's a financial crisis, and and the prices of the derivatives go down, there'll be all these calls for collateral.
29:11
Like, oh, well, the contract's not worth as much now. You gotta pony up more collateral to keep this bet alive. There'll be all these calls for collateral. They will then absorb all of the underlying $130,000,000,000,000 And so really, it's a scam to seize the underlying $130,000,000,000,000 of securities. The way this was also done is by not having market, really market operations.
29:44
You don't now when you have a derivatives trade, there used to be two sides to each contract. Like, first thing was dematerializing the stocks and bonds and putting them in pooled form in the clearinghouses. That's that that was step one. Step two was starting to encumber them. And then when the 02/2008 and then they legalized it.
30:03
Then the February, the regulators said, well, oh, derivatives are just so risky. It's creating all this financial instability. Why don't we create this new layer of of obscurity, which was the central clearing counterparties? So they created this new layer of entities above the clearinghouse. It's called central clearing counterparties, and they force all derivatives contracts to go through the central clearing counterparties, not between two counterparties.
30:27
So two people don't have derivatives contracts with one another now. You have to go through the central clearing counterparty, and they are the buyer for every seller and the seller for every buyer. So now you have even less, like you you have less market. It's not a rational market of buyer and seller. It's cleared through these central clearing counterparties.
30:45
And David, like, when he was writing his book was like, he he started analyzing that more ago. What the hell are they doing here? And it just it just makes no economic sense, no market sense to be to be doing that. But it does make sense if you wanna bust the bubble and have a controlled collapse and contain it and then and then basically create this taking operation. So they've underfunded the central clearing counterparties.
31:11
They've run seven years of simulations of them collapsing. The regulators and the financial service industry have basically set up a completely I'm going to write an academic paper just critiquing central clearing counterparties. This makes no economic sense, and it creates tremendous financial instability. You're concentrating risk in these entities. And then if you bust them, you can have a clean bust and sweep the collateral.
31:37
But the two parties of the contract should have to pay for their own crap that they create, not make all these poor stockholders pick up the bill for these bets they make. I mean, these regulators are so stupid. They just keep making more systemic risk, more financial instability, huge, huge liabilities that could take the entire system down. And that's what these these pricks want. They wanna just basically collapse the system, sweep our money, and then you'll earn nothing to be happy.
32:09
So this people need to get their head around this. I know it's a little obtuse, but that's what I'm here to do is try to bring this down in plain English.
32:17
Seth Holehouse: No. Well, it so which I I like taking these ideas and trying to translate them into kind of like a like a third grader's approach, right, in thinking like a
32:25
Speaker 2: That's why I put a ticking time bomb. I put a time bomb as
32:28
Seth Holehouse: There you go. So, basically, looking at this graph, it's at the global securities market is and I'm gonna oversimplify. Right? But, basically, everything that that we own that goes through the banking system or the stock market or anything that that get that at one point, if you owned a stock, you had a piece of paper that was a stock bond, and you owned it, and that was the representation of that stock. But at a certain point, they say, hey.
32:54
Let's just kinda this digitize everything. Let's kinda bring everything together. In this one kinda grouping as global securities market, and so everyone's like, oh, okay. I'll trust the the the, you know, TD Bank or my my, you know, whatever, my Vanguard advisor or whatever it is. And those things all get pulled together as this global securities market, and then that gets taken further away from us.
33:14
And then that global securities market becomes the, the asset for all of the backing all of the derivatives trades and that that 2 quadrillion, you know, market. And so, basically but then it's almost like it's like equivalent to say, I say I have a hundred dollars, I give it to my local bank, they take that hundred dollars, and they kind of they they they borrow it and swap it and borrow and swap it, say, like, 30 times, and eventually, that hundred dollars has turned into, you know, you know, a hundred thousand dollars worth of derivatives trading. But what happens in that process is that when that market when that bubble breaks, there's 30 people ahead of me that are gonna take those assets and which what it basically means is that if there is a a a bubble that collapses the global markets, which is a lot of reasons to say that that there's very there's a strong possibility of that, what it means is basically that there's a very small group of people that would seize the assets of almost the entire world where and and leave the people, we the people around the entire world penniless or owning nothing that was in their system.
34:19
So, of course, if you've got a hundred ounces of gold, you know, buried in your backyard, you still own that, but anything that's kinda put into their system actually isn't even ours already. And they've already set up all the laws to take everything if there's a some sort of financial, you know, kinda collapse or you know? Is is that a is that a good or a good understanding of it, basically?
34:41
Speaker 2: Yeah. What what what they did with with what the banks did centuries ago with playing with your deposits so lending taking your bank deposits and lending them out, and then then the interest they get on the loans, if they lose the money on the loan, then they're on the hook for your deposit. So it's not to say this is an easy business to operate, but it is fraudulent to to take your money without telling you, lend it out, and then the interest is on the loans that they lend out on your money or the profit. In this case, they did the same thing with with people's bank securities. They started to lend out the securities and or or encumber them in in in on bets, post them as collateral on their own financial bets.
35:26
And then if if if they go lose them, they are responsible for them. Well but they they sort of, like, not put in a legal system in place to say, well, they're not responsible for them. So what do you think is going to be the result? I mean, the behavior is going to get more and more reckless. It's going get more and more wild.
35:42
They're going do it more and more and more because they're not on the hook for their mistakes. But if you go lose your money, you can lose it. You can't go crying to the government or saying, oh, well, give me some free stuff. So it's like, this is not a mature adult. This is not a legal society.
35:57
This is not a way to run things. I mean, this is just it's criminal. So yeah, basically, the same thing that was done with bank accounts with fractional reserve banking has been done with all stocks and bonds. And since really the '70s, started. '80s was really going on in a big way.
36:14
'90s, it got legalized in the UCC code. And I'll revisit that one second. Then in the EU, was really 2,005. It was really the central depository securities regulations, CSDRs, that they sort of There's a letter between the Federal Reserve lawyers and the EU regulators. The EU regulators are asking the Fed lawyers, how do we implement this Article eight revision in Europe?
36:40
And they answer in plain English, destroy property rights, create a securities entitlement system. I mean, it's in plain English. They write, you know, the secured creditors, the contracts have priority over the entitlement holders. This is all in primary source documents proven. Now what's nice about this, though, is that in The US, it was done on the state level quietly by amending the UCC code.
37:06
So it can be undone, like, loudly, I'd hope, by amending the UCC code back to how it was before. So now there's a legal effort underway to put pressure on state legislators to restore property rights and securities. And this is a pretty attainable goal. It's a lot easier than trying to get a federal law passed. I'm from Washington, DC.
37:33
Mean, the federal government is so corrupt. It's very they they just go with money. These people are mostly prostitutes. They just go with whoever will pay their bills or grease their palms or butter their bread more. But the state legislators are largely a lot more honest.
37:47
They're not paid a lot. They're kind of there for the good reason. So I do have hope that this issue can be reformed. And I think if there's enough public awareness about it, that people will demand their rights, right or left, it's not a partisan issue. And in Tennessee, we got we got through a few committees and basically got put for summer study and killed there.
38:11
But, mean, it was a great interview between Andy Guggenheim from the Guggenheim family flew in to oppose the bill. And he you know, I don't wanna see he he perjured himself on the stand because he'll probably sue me. But he said, no. You have property rights. You have property rights.
38:27
I disagree. You know? But then it was like Anthony park Antonio Parkinson, the head of the Black Caucus of Tennessee, you know, this Israeli Republican state. He's like he's like, so you playing with the securities out of the pool? Are you like, when it when it when it kept in the pool, are you dipping in the pool?
38:42
And he's how are you making money on that? And he was like and it was so great. And and he's like, so he's like, so you he's like, so you don't know if it's your securities or somebody else's, but but they're getting played with and and and used as collateral. Right? And he's like, well, yeah.
38:56
And Guggenheim was like, yeah. Well yeah. So that's that's kinda how the financial system works. So think it's sort of an open secret in the finance industry that that's happening, but it's not widely discussed. And I don't even think most financial people understand these bigger implications David's making in his book.
39:19
So he's a real valuable asset in all this one of the most honest, genuine people I've ever met. And we've developed a nice friendship. So I've anyway yeah. I don't take take what you owe with it. But
39:36
Seth Holehouse: No. It's really important. And I what I'm thinking is that maybe, maybe what we can do is set up a show where I've got you and David on, and and we and we maybe ourselves two hours or, you know, what however long it takes just to really
39:49
Speaker 2: That would be good.
39:50
Seth Holehouse: Just to really dive into and into this because I I we've covered a lot of different topics here, and we have a little bit a little bit of a window because I've got an interview coming up shortly after this I have to, you know, get ready for. But this is such important information, and I I think that, you know, we can't again, going back to earlier, we can't just think, oh, everything's gonna be everything is all peachy now. Alright? Because there are plans way bigger than presidential elections that are, you know, at at a massive scale, that are still being rolled out. And and we have to be aware of this because, you know, again, it's just it's this is so important because this is like, most people that I know, including myself, like, we're working so hard to secure a future for our children and our grandchildren.
40:35
And all the assets that I that I have and and everything that you have and the listeners have that they're hoping that, okay. Can I please help, you know, take care of myself in retirement? You know, help my kids in, you know, these ways. Yeah. All that's on the line, and and this isn't being this isn't being talked about.
40:52
It's it's like, you know, David Webb's you know, his his book his movie came out, The Great Great Taking, and there was a there
40:57
Speaker 2: was a little bit
40:57
Seth Holehouse: of a surge when it came out, which was great. There's a lot of discussion about it. But like most things, you know, people get distracted by the next big issue, and, you know, a week later, everyone's forgotten about it because they're focused on, you know, you know, something Putin said at a press conference or whatever. So it's very important. So, so, James, how oh, go ahead.
41:17
Speaker 2: Yes. So I was looking for this one document. There was, like, a 02/2012 European EU document. It says and from it was talking about this use of the client assets as collateral or just like fractional reserve banking. It said, as a result of the demand for collateral, securities are increasingly regarded by market participants as a funding tool.
41:36
These trends reinforce the market trends to treat securities like money, with significant implications for ownership. So this is like an official EU document with the regulator on the subject, that they're treating everyone's stocks and bonds as a fungible asset to play with for their benefit. And the financial service industry should not be allowed to encumber your hard earned savings and investment money into their games and then lose it for you. Anyway, But there is a clear way we can stop this is call your state legislator and tell them you want your property rights restored, and that Article eight needs to be revised. And there is a legal team in place called True North Public Policy with Don Grande.
42:25
And it's like TRUNorthpublicpolicy.com. So they will write the bills for the state legislators. They'll help you educate your state legislator. And they'll help them write the bills and tailor them for your state. So there's a real this isn't like the digital ID issue or the CBDC issue.
42:51
I think that's just coming at us from a lot of angles. And I don't really know how to stop all that short of whether you were a dictator and just called an end to it or something. But this thing, we can really roll this back. And everyone will agree with this as long as they're educated and they understand it and the gravity of what it is. So we have a legal team in place to to help educate the legislators, write the bills for them for them, and everyone can get involved with this and and and really make a difference.
43:19
So this would it's very unique about this issue and gives me hope and, yeah, call your state call your state legislator right away.
43:28
Seth Holehouse: Fantastic. Well, I I I look forward to our next our next discussion, and we we should arrange that. You know, we we should set something up with, me, you, and David where we just go deep into this because it's really important, but I I appreciate what you're doing. It's, I it's not always easy, I'm sure, because this isn't the popular narrative everyone's so focused on. Everyone's winning right now.
43:49
It's like, yeah, there's still some major major risks, but we can't we can't lose our vigilance. So thank you again.
43:54
Speaker 2: Play the trailer or or, yeah. Let's play the trailer. Please, people donate to the film because
43:59
Seth Holehouse: Okay. Actually, so the, the trailer for, the stop it, the great taking trailer. Right? This one? Yes.
44:07
What I'll do is I'll play this, after we finish up, then I'll I'll I'll make this at the very end. So folks that are watching, you know, when once we sign off, I'll I'll then play this trailer for everybody. So well, thank you. Thank you for this, kind of, like, very dense, you know, discussion. I look forward to having more discussions with you, and let's just let's just keep fighting.
44:26
Thanks again.
44:27
Speaker 2: Great. Thank you for what you're doing. It's it's great to see your show. Yeah.
44:31
Seth Holehouse: Thank you so much. Take care, and God bless.
44:33
Speaker 2: Okay. Have a good day. Thank you.
44:36
Seth Holehouse: Grand Canyon University, a private Christian university in beautiful Phoenix, Arizona, believes that we're endowed by our creator with certain unalienable rights to life, liberty, and the pursuit of happiness. GCU believes in equal opportunity, that the American dream starts with purpose. GCU equips you to serve others in ways that promote humans flourishing and to create a ripple effect of transformation for generations to come. By honoring your career calling, you impact your family, your friends, and your community. Change the world for good by putting others before yourself to glorify God.
45:09
Whether you your pursuit involves a bachelor's, master's, or doctoral degree, GCU's online, on campus, and hybrid learning environments are designed to help you achieve your unique academic, personal, and professional goals. With 350 academic programs as of June 2024, GCU meets you where you are and provide you a path to help you fulfill your dreams. The pursuit to serve others is yours. Let it flourish. So find the find your purpose at Grand Canyon University.
45:35
It's private, Christian, and a So folks visit g c u dot e d u. Again, that's gcu.edu.
45:47
Speaker 8: For four hundred years, securities were personal property. If your account provider, your broker, or your custodian became insolvent, you could take immediate return of your securities. That is no longer the case.
46:07
Speaker 9: America is is in trouble. The Federal Reserve can be summarized in three words. It's a scam. I never realized it was the most profoundly corrupt institution in the world pretending to be honorable.
46:25
Speaker 10: Mister Webb came out with his book and people began to read it and constituents started calling me and saying, what are gonna do about it? And I didn't realize this and I didn't realize that and I can lose everything that I own.
46:37
Speaker 5: So I've written this book, The Great Taking, to put on the table a very sophisticated structure designed to take essentially all financial collateral globally. In 1994, the UCC, which is the Uniform Commercial Code, changed wording regarding securities. What it meant that the stocks and that you and I purchase can be used as collateral to guarantee loans for that investment firm.
47:08
Speaker 11: In 1994, Article VIII revision, they created, conjured a new type of property ownership or property right called a securities entitlement. That's a contract. So it isn't a security in the sense that you thought you used to own something on paper.
47:27
Speaker 12: You own securities. You own, you know, the number that says on your brokerage statement, but securities, you know, can be are are are more fungible in that in that respect.
47:38
Speaker 13: I just wanna regurgitate what I think I'm hearing. So given the fact that these securities are in a pool, it they they are using the securities in the pool as collateral, but you don't know necessarily if they're using yours or somebody else's. That's that's my understanding.
47:54
Speaker 5: The financial system, the custodians are empowered to borrow the securities out of the pool without any in any limit at all. Taking that the next step, which would mean potentially if your investment firm went bankrupt, your assets could be pledged to that. The secured creditors have absolute assurance that they will keep the client collateral in the event of insolvency. And this is the shocker. Not your insolvency, but insolvency of the people that secretly used your securities as collateral.
48:36
That's insane. That's ridiculous. We all own our own property. I pulled out the book and read section of code he was talking about and said, I'll be damned. I read that the same way he does.
48:49
So there is a legitimate concern. As individuals, these are our securities. We're not pledging them for any institution. But by god, it's ours.
48:58
Speaker 13: I'm glad that they're bringing this bill and and, you know, and hopefully, we'll make sure that at least the citizens of Tennessee are are, you know, the highest priority when it comes to their assets being protected. And, you know, and if anything happens, god forbid, it does, that they'll get their assets back.
49:14
Speaker 8: The derivatives complex, so it gone from a hundred to 700,000,000,000,000 in five years. It's now estimated to be maybe 2 quadrillion.
49:27
Speaker 13: I didn't even know quadrillion was actually a real word. You know, I I thought it was something I made up when I was seven.
49:34
Speaker 5: They don't need your money. They can create unlimited money. It is about subjugation of people. We're in a hybrid war that is open ended.
49:46
Speaker 10: Kissinger said long time ago, if you wanna control people, you control food. If you wanna control nations, you control oil. If you wanna control the world, you control money.
49:55
Speaker 9: So if this what you're using as a monetary value is not your property, you have none. You have nothing. You are a slave. The average person is doomed. They have to wake up.
50:09
They have to learn a little bit about what the real world is about. They have to stop buying into the myth.
50:34
Seth Holehouse: So, folks, this year, I've given you so many reasons to try balance of nature, but I've got one now you cannot ignore. Let's review some of these other reasons. First, with Balance of Nature, you get a product made from whole fruit and veggie ingredients. Second, they can provide you with so many things you could be missing. Third, it could be just what you've been looking for to make you feel better, and, of course, I take them.
50:56
But I think that you'll agree this reason trumps them all. During November, with my special promo code, you'll get their Black Friday savings all month long. So folks, use my discount code seth, s e t h, and sign up as a new customer to get 50% off plus free shipping. As always, you get their money back guarantee. This is an unbelievable discount.
51:18
But if you use my discount code s e t h, Seth, you'll get the discount. So folks, call them at 802468751. Again, that's 802468751, and use discount code Seth, or order online at balanceofnature.com. And remember, use discount code Seth to get 50% off plus free shipping.