“The Great Taking” by David Rogers Webb discusses systemic financial manipulation and legal changes aimed at enabling a vast transfer of wealth and securities from the public to a protected class of financial elites, through engineered monetary policy and legal frameworks.
The book analyzes the engineered dematerialization of securities, replacing direct ownership with “security entitlements” that lack substantial property rights.
Legal and regulatory frameworks, such as Article 8 of the UCC and the Central Securities Depository Regulation (CSDR), have been altered to favor secured creditors over ordinary investors in case of financial institution insolvency.
The Federal Reserve and other central banks’ policies are crucial in creating conditions that can lead to the collapse of financial systems while protecting “the protected class.”
Central Clearing Parties (CCPs) are set to play a pivotal role in the systemic risk management of securities transactions, yet their under-capitalization poses a significant threat to the financial system.
Central Bank Digital Currency (CBDC) initiatives globally are positioned as part of the transition towards more controllable financial systems.
Webb suggests that the current trajectory of financial system manipulation and legal changes is towards increased control and wealth concentration in the hands of a few, undermining democratic and property rights.
The book calls for awareness and action against these systemic changes to prevent the complete subjugation and disenfranchisement of the public.
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