WEBVTT 00:33.561 --> 00:35.171 First chat is I am Katniss. 01:09.339 --> 01:16.164 The actual winner is determined by who tweets, or sorry, who enters the chat after it goes live. 01:16.244 --> 01:23.609 So if you're here before it goes live, that just means you're in a better position to compete for that first position. 01:23.669 --> 01:29.173 Free mayonnaise, if that feels like the rules have changed a little bit, I apologize. 01:29.493 --> 01:32.335 We've just got so much, so many people complaining. 01:33.996 --> 01:35.037 that you're always winning. 01:35.117 --> 01:39.719 So it has to be after the start of the liveness. 01:40.659 --> 01:43.981 And so you will still remain one of the all-time champions. 01:44.041 --> 01:44.541 Don't worry. 01:45.001 --> 01:49.123 You're going to go down in the all-star books or whatever it's called. 01:53.506 --> 01:54.626 It's a huge competition. 01:54.666 --> 01:56.247 It's like a cash prize every day. 01:56.567 --> 01:57.167 I'm surprised. 01:57.187 --> 02:00.089 I think they probably keep it secret because they don't want you to know. 04:06.606 --> 04:06.646 Mm. 05:29.614 --> 05:31.155 I think truth is good for kids. 05:31.596 --> 05:35.419 We're so busy lying, we don't even recognize the truth no more in society. 05:35.439 --> 05:37.540 We want everybody to feel good. 05:37.661 --> 05:39.902 That's not, that's not the way life is. 05:42.444 --> 05:46.368 But you can tell if someone's lying, you know, you can sort of feel it in people. 05:48.169 --> 05:48.890 And I have lied. 05:48.910 --> 05:49.930 I'm sure I'll lie again. 05:49.950 --> 05:50.891 I don't want to lie. 05:51.372 --> 05:52.733 You know, I don't think I'm a liar. 05:52.833 --> 05:53.854 I try not to be a liar. 05:53.894 --> 05:54.754 I don't want to be a liar. 05:55.315 --> 05:58.037 I think it's like really important not to be a liar. 06:00.214 --> 06:20.441 introduced Jonathan, who's going to talk about his latest distillation of what the pandemic means to society, to biology, to science, and to democracy, and the whole kind of idea of empiricism and integrity. 06:21.522 --> 06:24.863 And then each of us, this incredible, preeminent 06:25.639 --> 06:30.000 panel that we have, each one of you is going to get a chance to comment. 06:33.820 --> 06:52.344 It doesn't matter much at all what you believe about vaccines until we invent really important ones, you know, until we have a pandemic that's killing everyone, you know, and, you know, it's not, it's, you know, measles plus, you know, okay, I can tolerate what you think about measles because, you know, not that many people die from it. 06:52.644 --> 06:54.584 It's just a big hassle in the end. 06:55.233 --> 07:10.965 but no, when we have this new pandemic that is, you know, got 75% mortality, and it's not, there'll be no pretense of being polite in the face of these beliefs. 07:11.005 --> 07:13.547 It'll be a moral emergency, because it has to be. 07:13.567 --> 07:20.512 I'm afraid that the latest data tells us that we're dealing with essentially a worst case scenario. 07:21.994 --> 07:25.155 Now, Dr. Gallo and Dr. Fauci talked a lot about isolation and purification. 07:25.635 --> 07:27.455 Can you tell me what the difference is between the two? 07:29.436 --> 07:29.816 Isolation? 07:29.856 --> 07:30.196 What was it? 07:30.356 --> 07:31.576 Isolation and purification. 07:33.297 --> 07:34.017 Of the virus? 07:34.117 --> 07:34.337 Yes. 07:35.557 --> 07:37.318 Well, you isolate a virus by... 07:44.139 --> 07:46.602 finding the virus which causes a disease. 07:47.262 --> 07:52.147 You purify a virus by making a lot of, I mean, just by purifying it so you get a pure virus. 07:52.928 --> 07:54.950 I don't understand what the issue. 07:55.070 --> 08:00.515 Well, they interchanged the two and I wasn't sure if it was the same thing or if it was two totally different. 08:01.617 --> 08:02.758 No, it depends on how they used it. 08:03.198 --> 08:04.479 Okay. 08:04.640 --> 08:07.042 Can you explain the process of HIV isolation? 08:09.605 --> 08:11.546 Well, didn't Dr. Gallo do that? 08:11.606 --> 08:13.907 I mean, he actually isolated it, so. 08:14.487 --> 08:17.648 I mean, why should I do all of this? 08:17.728 --> 08:19.729 This is all textbook stuff you're asking me. 08:49.015 --> 08:51.296 The End 09:16.906 --> 09:18.949 Sorry to keep you waiting back there, David. 09:20.071 --> 09:21.473 We're almost ready to go. 09:21.493 --> 09:25.939 It usually requires me to adjust everything as I fly. 09:25.979 --> 09:27.902 That's why I do this long introduction. 09:28.563 --> 09:29.504 So I apologize. 09:29.564 --> 09:31.327 I'm going to be ready to go in about three minutes. 09:32.564 --> 09:38.365 Um, again, we're here to dispel another part of the enchantment, but today we're not going to talk about biology. 09:39.266 --> 09:40.926 Um, I have a guest on the show today. 09:41.006 --> 09:53.969 So instead of listening to me rant, um, we are going to ask some, I hope intelligent questions, um, and, and get some, get some knowledge that we aren't going to be able to get from someone like me. 09:54.909 --> 09:54.989 Um, 09:56.303 --> 09:57.724 I am very excited. 09:57.945 --> 09:59.766 We are living in some interesting times. 10:00.907 --> 10:09.436 One of the more interesting aspects of the times in which we live is this multiple angles on the truth about money. 10:10.316 --> 10:17.523 And I am definitely not the person to be discussing the truth about money, but I have already 10:18.604 --> 10:28.618 many times mentioned money and I often use the term weaponized piles of money because I think it's a general way of thinking about this stuff. 10:28.638 --> 10:35.787 I think weaponized piles of money are the reason why we have never really thought about there being no evidence of spread in New York City. 10:36.815 --> 10:45.460 I think weaponized piles of money are the reason why we are paying attention to Peter Daszak instead of the molecular biology that's called infectious clones. 10:45.960 --> 10:51.624 I think the reason why we are not talking about placebo batches has to do with weaponized piles of money. 10:52.084 --> 11:00.549 And I think the reason why transfection is not a word that everyone knows is because of weaponized piles of money, the same weaponized piles of money that have coordinatedly 11:01.289 --> 11:08.093 led us to believe that the protocols were necessary instead of murder, that gain of function is real and not a mythology. 11:08.594 --> 11:19.661 The same weaponized piles of money that coordinatedly lied in order for us to solve this mystery of the Scooby-Doo, and a spectacular commitment to this lie that this is the question to be answered, 11:20.581 --> 11:39.462 allows them to cover up some of the other malfeasance that's going on in the background that again involves weaponized piles of money so we're talking about weaponized piles and money and of money and intellectual property and we're also talking about different weaponized piles of money being used for 11:39.582 --> 11:44.665 to extract the physical wealth of nations around the world. 11:44.765 --> 11:53.491 And so I'm hoping that my naivety to these phenomenon will give us a heads up, a leg up on asking the right questions. 11:55.032 --> 11:58.354 And I think David Webb is one of these guys that has been 11:59.154 --> 12:05.577 They just attribute bad motives to him because his story is so annoying that they can't argue with it. 12:05.757 --> 12:11.740 So instead of arguing with his story of the great taking, they just attribute bad motives to him. 12:11.780 --> 12:14.601 And maybe they've even gotten to the stage where they just have to ignore him. 12:16.428 --> 12:18.230 And anyway, we know where we are. 12:18.290 --> 12:25.596 We know we're trying to relive or reopen our history books so that we can take back the power that these charlatans have over us. 12:25.656 --> 12:30.560 But ultimately, these charlatans are forward-facing charlatans, just like these charlatans are. 12:31.120 --> 12:34.683 They are an elaborate theater that's designed to keep us busy. 12:36.245 --> 12:47.376 And if we want to make gentle the life of this world and the life of our kids as we move forward, we're going to have to teach them how to see this coordinated wave of lies, of mythologies. 12:47.797 --> 12:49.979 And it's not just biology, ladies and gentlemen. 12:51.340 --> 12:51.981 It's also money. 12:52.161 --> 12:53.162 It's also a coordinated 12:56.724 --> 13:04.651 like a coordinated fake consensus about what money is and about what banking is and about how rich people get rich. 13:04.811 --> 13:15.680 These are all mythologies that are agreed upon on the internet and on social media and if our kids are not clever enough to see through these mythologies then they will be 13:16.320 --> 13:20.464 victims of them just like we were in our young adult lives. 13:20.524 --> 13:27.772 Ladies and gentlemen, we stay focused on the biology here, we don't take the bait on social media, and we love our neighbors at Giga Home Biological. 13:27.892 --> 13:34.999 If you don't know, this is a message produced by an American for America, but it is also a message for the world. 13:36.381 --> 13:48.391 I recently met David Webb at the Red Pill conference in South Dakota a month ago and sharing that Red Pill talk and his Red Pill talk. 13:48.411 --> 13:54.897 It's not like any of these things go viral, but we are dependent on sharing these messages. 13:54.937 --> 13:56.438 We need this message shared. 13:57.039 --> 14:01.082 I think David is one of these guys who just wants the truth out. 14:01.163 --> 14:02.304 You don't have to buy his book. 14:03.204 --> 14:26.596 Just spread the truth learn it and spread it spread his videos And so I'm really excited to have the chance to talk to him today, so I'm just gonna go through the horn And put up the talking the first talking slide, and then we'll bring David on immediately Wow it's 10 after already not good not good timing bad coffee Took too long to boil or something. 14:26.616 --> 14:27.777 I don't know what my excuse is 14:28.317 --> 14:35.438 We're trying to create a paradigm shift all around the world, and it's got to be a paradigm shift on multiple fronts, not just on biology and public health. 14:35.918 --> 14:43.420 It's also got to be a paradigm shift on how money is curated and how money is created and who has that power. 14:44.040 --> 14:49.961 And so the only way to really engage in noncompliance is to understand it. 14:50.021 --> 14:52.401 So you've got to understand how the banks have lied to us. 14:53.121 --> 14:56.642 And I'm hoping that we're going to get there a little headway today. 15:00.758 --> 15:06.302 Okay, well, shall I start? 15:08.403 --> 15:17.889 I'm not sure at what point to enter into this, but shall I just give a bit of an introduction and start talking about the subject? 15:18.529 --> 15:25.374 Yeah, I think since you already waited so long, and I am really sorry about that, but it's sometimes it's a 15:26.954 --> 15:28.555 I'm going to slip this up over here. 15:29.516 --> 15:31.057 And there you are on the screen. 15:31.097 --> 15:35.460 And so I'm going to put myself down in the corner and then you won't see me anymore, just down here in the corner. 15:35.480 --> 15:36.700 Can you see everything fine now? 15:37.901 --> 15:39.923 You know, I just see myself. 15:40.103 --> 15:41.564 I don't see anybody else. 15:41.604 --> 15:51.710 So if you go up to the top right corner and change the way it views to either a gallery or to the speaker, then you'll see everybody. 15:54.025 --> 15:58.487 And in the meantime, I'm going to switch down here and I put myself down in the corner. 16:02.229 --> 16:05.791 Oh, maybe you can't see me because I haven't started my virtual camera. 16:06.031 --> 16:07.172 Oh, there we go. 16:07.212 --> 16:07.592 Wow. 16:07.672 --> 16:09.433 So see, this is just amateur hour here. 16:09.493 --> 16:10.194 I apologize. 16:10.914 --> 16:13.315 So ladies and gentlemen, this is David Webb. 16:13.355 --> 16:19.538 He's the author of The Great Taking, and he knows that we are not an economist and we are not traders and day traders. 16:19.638 --> 16:24.920 And so I've prefaced a little bit about where we are, but I do want to just hand it over to David. 16:24.960 --> 16:26.401 So thank you very much for joining me. 16:27.341 --> 16:33.784 I'll interrupt you if you've gone too fast, too far, and otherwise, whatever you would like to say, the floor is yours. 16:34.665 --> 16:35.025 OK. 16:36.005 --> 16:38.627 Well, I'll just start by saying I think 16:40.863 --> 16:52.271 A big part of the reason I'm doing what I'm doing is because of my grandmother, who was in our household when I was a little boy. 16:52.531 --> 17:04.619 And she was a nurse in the Great War and went into World War I with my grandfather, who was a surgeon. 17:04.799 --> 17:05.960 They were not married yet. 17:06.040 --> 17:07.180 They married after the war. 17:09.910 --> 17:14.573 They were the first people from the U.S. 17:14.973 --> 17:15.653 into the war. 17:16.214 --> 17:21.677 It was a medical unit that went into France before the U.S. 17:21.757 --> 17:22.438 entered the war. 17:24.979 --> 17:33.164 And I think that they were really marked by this experience. 17:33.564 --> 17:38.247 The casualties they were dealing with on a daily basis was just 17:38.868 --> 17:42.449 dwarfing the ability of their facility to handle this. 17:43.029 --> 17:45.950 So it's like a scene from Gone with the Wind. 17:48.511 --> 18:01.574 And I grew up, she somehow put across to me the idea that life should be about more than making money. 18:03.275 --> 18:05.755 And that medicine is, 18:08.877 --> 18:13.580 a real profession in the sense that it's a calling. 18:13.980 --> 18:18.802 And that's what it was for my grandmother and grandfather. 18:19.403 --> 18:25.466 But in the 1960s, things started going badly in Cleveland. 18:25.526 --> 18:30.649 My father's side of the family were engineers, and they were in business. 18:31.289 --> 18:36.532 And Cleveland was going through the beginning of the industrial collapse of the US. 18:37.108 --> 18:37.828 at that time. 18:37.948 --> 18:52.571 So I ended up, I would have become a physician, but I ended up going into business really to try to understand what was hurting us, what was going wrong. 18:53.311 --> 18:57.632 So Cleveland was something like the canary in the coal mine in this. 18:58.692 --> 19:01.832 And I've been in business. 19:02.212 --> 19:03.773 I went into finance. 19:03.893 --> 19:05.033 I went to Wall Street. 19:05.560 --> 19:08.782 But oddly enough, it was never about making money for me. 19:08.822 --> 19:11.563 It was about understanding things. 19:13.084 --> 19:15.765 And I've gone from one thing to the next that way. 19:15.945 --> 19:18.506 So then let's start getting into money a little bit. 19:18.666 --> 19:34.174 In the late 90s, I was managing hedge funds in the aftermath of what was called the Asian financial crisis, and then leading up to the dot-com bubble and bust. 19:35.226 --> 19:53.681 And I started seeing just strange behavior in the equity markets, meaning, as I would describe it, that the markets might go up straight up on bad news, unabashedly bad news. 19:53.781 --> 20:02.168 So there was some kind of hidden injection coming into the markets at that point. 20:07.564 --> 20:15.966 I started developing the idea that the Federal Reserve System and the central banks were actually influencing the financial markets. 20:16.466 --> 20:22.267 Now, believe it or not, at that point, that was considered conspiracy theory in the late 90s. 20:22.487 --> 20:26.208 And my partners thought that that was conspiracy theory. 20:28.248 --> 20:30.169 But I began studying this. 20:30.269 --> 20:32.309 And one thing I noticed was that 20:32.910 --> 20:44.816 For example, in the news, financial news, they were saying that liquidity was coming from the Bank of Japan buying US treasury securities. 20:46.056 --> 20:52.480 And the argument was that Japan had to recycle its trade surpluses into these treasuries. 20:53.240 --> 20:58.042 So I started looking at, well, what was the scale of these treasury purchases? 20:58.162 --> 21:01.204 And what was the scale of the trade surplus? 21:02.006 --> 21:10.891 And I found that the scale of the treasury purchases was maybe an order of magnitude larger than whatever the trade surplus could be. 21:11.771 --> 21:21.677 So this kind of hyper-financialization was beginning to occur at that point in the late 90s. 21:21.757 --> 21:24.939 But I began studying 21:27.904 --> 21:35.572 the scale of injections by the Federal Reserve System into the banking system. 21:36.553 --> 21:41.098 And I was able to see the rate of growth in money. 21:41.238 --> 21:48.466 I was following the rate of growth in money supply, the change from week to week. 21:49.019 --> 22:03.904 And I could see when I began looking at it, I saw that in some weeks, the amount of new money created was maybe more than 1% of GDP of the US. 22:04.685 --> 22:10.747 Now, if the economy was growing at 3% or 4%, and you had an annualized 22:11.553 --> 22:15.337 rate of money growth in a week of 50% or more, something was happening. 22:21.519 --> 22:26.103 Now, I have done a... Can I interrupt you here for a second? 22:27.424 --> 22:33.789 When you say money supply increases, are you talking also about banks loaning money? 22:33.809 --> 22:36.491 Or are you specifically talking about governments printing money? 22:36.532 --> 22:38.293 Are you talking about the collective total? 22:38.393 --> 22:39.634 Well, no. 22:39.814 --> 22:47.721 In this case, this was a measure called M3 at that time, which is 22:49.070 --> 22:54.694 a measure of money, which is basically bank deposits. 22:54.934 --> 22:59.316 It's liquid funds available. 22:59.336 --> 23:13.785 And what the Fed does to, at least at that point, to load the banking system with money was to enter into repurchase agreements with the banks. 23:14.360 --> 23:15.741 for treasury securities. 23:15.821 --> 23:20.564 So the Fed would buy treasuries from the banks and load them with cash. 23:21.144 --> 23:27.608 And then that would, in theory, lead to loans in the real economy. 23:28.188 --> 23:34.752 But what was happening was that money was going into the financial markets, not into the real economy. 23:35.152 --> 23:37.414 So let me explain. 23:37.474 --> 23:43.017 It's about the relationship between growth in money and growth in the real economy. 23:43.695 --> 23:48.897 So it used to be that the created money was actually going into the real economy. 23:50.338 --> 23:53.279 There's a term called velocity of money. 23:53.879 --> 24:04.263 And that means the number of times that created money is then turned around and spent in the real economy. 24:04.283 --> 24:06.724 So in the 24:09.591 --> 24:22.539 let's say in 1980 when I did a money and banking course, it was considered that the velocity was maybe six to eight times on newly created money. 24:23.720 --> 24:25.461 Now, so think of it this way. 24:26.862 --> 24:31.125 If you or I need to come up with money, we have to sell something. 24:32.486 --> 24:37.289 You have to sell a product or a service, but the central banks have this power to 24:39.517 --> 24:41.719 to create this money out of thin air. 24:43.380 --> 24:50.624 And initially it is an awesome power because things happen that wouldn't have happened otherwise. 24:51.165 --> 24:55.467 Projects are begun that wouldn't have happened otherwise. 24:56.088 --> 25:02.432 So the money spent is received and then re-spent and so on. 25:02.832 --> 25:03.293 And this is 25:04.383 --> 25:12.649 The measure of six to eight times is the number of times that the newly created money is used in the real economy. 25:12.769 --> 25:19.153 So the GDP multiplier on the created money was a high single digit. 25:20.134 --> 25:30.221 So what was beginning to happen in the late 90s after the Asian financial crisis was this ratio had inverted and now the created money 25:30.928 --> 25:35.791 was multiples of any economic growth that was happening. 25:36.631 --> 25:42.974 So now they had to create more and more money to keep the economy from contracting. 25:44.015 --> 25:57.582 So this was beginning in the US in the late 90s, but what happens is when this phenomena, the collapse in the transmission 25:58.363 --> 26:01.005 of the created money into the real economy. 26:01.125 --> 26:04.047 When that occurs, it's intractable. 26:04.987 --> 26:07.068 It is pushing on a string. 26:07.689 --> 26:11.331 And they go to higher and higher levels of money creation. 26:11.751 --> 26:15.293 But ultimately, the real economy is not responding. 26:15.734 --> 26:24.479 So that created money increasingly goes into financialization, financial bubbles, and as we've seen, warfare. 26:25.217 --> 26:29.599 into escalating global war. 26:30.279 --> 26:39.783 So this same phenomenon was occurring leading into World War I from the 19th century into the 20th century. 26:39.803 --> 26:43.644 And we saw between 1912 and 1918 26:48.732 --> 26:59.917 collapse of the Qing dynasty, the Austro-Hungarian Empire, the Turk-Ottoman Empire, the Russian Empire, the destruction of Germany. 27:00.417 --> 27:08.921 So it's really leading up to a profound geopolitical process when this is occurring. 27:08.941 --> 27:08.981 So 27:13.213 --> 27:21.298 I believe that is why we are seeing such seemingly unprecedented things happening now. 27:21.318 --> 27:26.762 As they say, we don't commit the sins of our fathers, we commit the sins of our grandfathers. 27:27.142 --> 27:33.807 You have to go back a couple of generations to find an analogous period for what is happening now. 27:33.827 --> 27:34.828 So by 27:38.430 --> 27:42.534 The fourth quarter of 99, this is the peak of the dot com bubble. 27:43.094 --> 27:51.141 Money was growing at a 40 percent annual rate on an economy that was growing maybe three percent. 27:51.782 --> 27:55.625 So this is so it was really blowing out at that point. 27:55.705 --> 28:00.389 So we have been in this process for over 20, 20 years, quarter of a century. 28:01.059 --> 28:04.740 of this, so this is a paradigm collapse. 28:07.021 --> 28:16.824 So the ability to control things with money, that is a very sophisticated control system. 28:17.825 --> 28:24.167 It requires low energy, low physical intervention because people just chase the money. 28:24.627 --> 28:27.168 They just chase their money incentives. 28:27.708 --> 28:30.329 So money is really a control system 28:31.372 --> 28:37.754 And when you enter this kind of a process, the control system is really in collapse. 28:38.614 --> 28:51.277 So they are then going into a process to try to maintain control through some kind of a reset, which we have been promised. 28:52.838 --> 29:00.080 So this is the kind of macro, my macro explanation for why this is happening. 29:01.090 --> 29:03.512 I actually navigated using this. 29:04.012 --> 29:07.935 So this isn't just from reading about it. 29:08.075 --> 29:15.040 I studied it and applied it to what I was doing to navigate through the bubble and the bust. 29:15.320 --> 29:20.523 So then we go forward a bit. 29:21.104 --> 29:24.266 I knew that we were going into a collapse in 2007, 2008. 29:24.326 --> 29:25.987 I was preparing for that. 29:31.014 --> 29:39.020 And I noticed that this little, again, you look for canaries in the coal mine. 29:39.100 --> 29:48.426 There was a collapse of a little broker dealer in Florida, the first insolvency, and I was expecting many. 29:49.447 --> 29:59.294 And the thing that really got my attention was all of the client securities were encumbered in bankruptcy estate of the broker. 30:00.310 --> 30:06.352 Now that blew my mind because that should never have happened. 30:08.053 --> 30:14.375 So now I'll go into the explanation of what has changed here. 30:14.955 --> 30:25.799 For 400 years from the beginning of creation of securities, they were personal property, a chattel. 30:26.819 --> 30:28.440 It was your property. 30:29.308 --> 30:41.473 And if it was held by a custodian and the custodian failed, became insolvent, you were entitled to return of your property immediately. 30:41.953 --> 30:44.174 And if they did not do that, that was theft. 30:45.495 --> 30:49.236 Now, the shocking thing is that is no longer the case. 30:50.437 --> 30:58.600 They have been working on this so that we no longer have property rights as we would understand them. 31:00.221 --> 31:01.922 to securities. 31:02.002 --> 31:03.082 Now, what are securities? 31:03.143 --> 31:06.645 That means stocks, basically stocks and bonds. 31:07.626 --> 31:12.869 And so, and not just held by individuals in their IRAs. 31:12.949 --> 31:14.370 This is comprehensive. 31:14.450 --> 31:19.814 This is all securities held in investment funds, in pension funds. 31:20.734 --> 31:29.000 And now globally, there has been a, so there was a process of changing the law in the US 31:29.997 --> 31:34.221 beginning in the 90s. 31:34.241 --> 31:44.110 So they changed what is called the uniform commercial code, which is commercial law at the state level. 31:45.231 --> 31:46.532 And it 31:48.171 --> 31:52.072 Part of the reason doing it that way was it could be done very quietly. 31:52.152 --> 31:55.432 There was no attention at the federal level to this. 31:55.452 --> 31:58.353 It took from 94 to maybe 2001 to get it implemented in all 50 states. 31:58.373 --> 32:00.133 But that was done. 32:00.153 --> 32:00.553 And then in 32:14.113 --> 32:24.980 In 2005, they changed something called safe harbor, which sounds nice, safe harbor. 32:26.161 --> 32:38.369 But what that means is safe harbor for secured creditors to have priority to the client assets. 32:40.591 --> 32:50.573 and to be able to keep those assets, even if their control is passed to the creditors right on the eve of a bankruptcy. 32:51.894 --> 33:06.877 And even if fraud and wrongdoing was involved, so things that would have been fraudulent prior to 2005 are no longer fraudulent. 33:07.651 --> 33:15.334 Now, how do we know that all this is the case, what I'm telling you? 33:17.215 --> 33:24.937 After this was done in the US, the EU was being pressured to conform to the same system. 33:26.318 --> 33:33.581 And in Europe, there were property rights to securities, direct property rights to securities. 33:33.621 --> 33:36.902 So they had a problem with that, and they had to figure out how to subvert it. 33:37.828 --> 33:54.717 and they formed something called the Legal Certainty Group, which, again, sounds nice, legal certainty, but what they meant was legal certainty that the secured creditors keep the assets, that they won't be returned to the clients. 33:57.278 --> 34:02.761 So the Legal Certainty Group wrote a questionnaire to the Fed 34:03.564 --> 34:04.724 the New York Fed. 34:04.984 --> 34:08.565 Now, the New York Fed is really the Fed. 34:08.945 --> 34:11.326 This is the business end of the Federal Reserve. 34:12.246 --> 34:28.731 And we have an incredibly important document, which is the legal response, formal, prepared by attorneys at the New York Fed and provided to the EU, explaining exactly how this works. 34:29.682 --> 34:43.589 And it begins by explaining that this is specifically addressing the Uniform Commercial Code, Articles 8 and 9. 34:43.889 --> 34:57.576 And what is explained there is that investors, whether they're individuals or institutions, don't have a direct property right extending to the securities. 34:58.049 --> 35:04.292 They have an interest, a pro rata share in a pool of securities. 35:05.253 --> 35:06.833 And this is the sucker fuge. 35:06.914 --> 35:08.334 This is how it is done. 35:09.055 --> 35:14.117 So they have an appearance of a property, right? 35:14.237 --> 35:25.383 You may hear the term beneficial ownership, which again sounds nice, but it means that you have an appearance of control. 35:25.976 --> 35:29.699 You can decide when to sell, when to buy and sell something. 35:30.040 --> 35:31.861 You're paid the dividends. 35:31.901 --> 35:33.623 You're given a proxy statement. 35:34.243 --> 35:40.169 But all the while, the security is held in pooled form. 35:40.969 --> 35:48.616 And if there is a failure in the financial system, you are entitled to only prorate a share of what remains in that pool. 35:48.636 --> 35:50.358 Now, here's the problem. 35:51.761 --> 36:04.328 those pooled securities are being used on a vast scale without restriction and FOP is the acronym, free of payment. 36:05.029 --> 36:17.997 So the securities are used as collateral within the financial system by the, essentially the, 36:19.485 --> 36:25.507 the custodians throughout, through the intermediaries within the financial system. 36:26.087 --> 36:35.070 So in the U.S., for example, all securities are held in pooled form at something called Depository Trust Corp. 36:36.250 --> 36:36.971 in New York. 36:37.771 --> 36:41.712 And so the essentially the entire U.S. 36:41.772 --> 36:47.354 financial system, all securities are held in pools there. 36:48.918 --> 36:57.306 So all of the US financial system is exposed to this and much of the world financial system is exposed to this. 36:59.469 --> 37:07.156 These securities are really being used underpinning the derivatives complex. 37:07.677 --> 37:09.459 Now, what is a derivative? 37:09.899 --> 37:11.521 It's a kind of intimidating 37:12.062 --> 37:15.943 term, it means it's derived from something else. 37:16.723 --> 37:19.884 It is not a real thing itself. 37:20.744 --> 37:25.865 It is a contract written about the behavior of something else. 37:26.665 --> 37:36.507 So if this other thing goes up or down, it results in a payment made or a payment received. 37:36.927 --> 37:39.388 Basically, that's the idea behind it. 37:41.721 --> 37:49.334 And when this direct property rights and securities was subverted in 94, that's when the growth in 37:52.463 --> 37:59.386 financial contracts, derivatives, really took off exponentially. 38:00.126 --> 38:09.250 So by 2001, derivatives outstanding were about twice the size of global GDP. 38:09.971 --> 38:14.493 So again, we see this, the beginning of this hyper financialization. 38:14.993 --> 38:18.434 By 2007, derivatives outstanding were 10 times global GDP. 38:22.549 --> 38:33.494 So from two to 10 times global GDP over five or six years, it's estimated that now it's maybe two quadrillion. 38:34.054 --> 38:37.616 So about 20 times global GDP. 38:38.296 --> 38:45.119 So there is not enough of anything in the world to back this. 38:45.860 --> 38:50.622 So you have these, the pooled collateral being used 38:51.594 --> 39:04.866 over and over again as reused as to provide some argument that there is a collateral backing behind this. 39:05.327 --> 39:11.532 And that's done through what's called hypothecation and re-hypothecation. 39:11.572 --> 39:15.456 That means that the party that has received this 39:16.075 --> 39:24.179 collateral out of these pools as a secured creditor, then extends that as collateral in another trade. 39:24.579 --> 39:29.201 And then it's used again by that secured creditor that has received it. 39:29.702 --> 39:39.787 So these collateral chains have to be maybe seven times, something like that, when you look at that for reuse of the collateral. 39:40.387 --> 39:44.509 So what has been set up here is a game of musical chairs. 39:45.362 --> 39:58.287 where more claims have been created on the pooled assets than there are assets in these pools, and that's assured. 39:59.247 --> 40:12.832 And under these changes to the Uniform Commercial Code, it is clear that the secured creditors that have received the collateral have legal certainty that they will keep the collateral. 40:13.191 --> 40:15.473 It won't be returned to the owners. 40:18.255 --> 40:22.218 So again, this is explained in the Federal Reserve document. 40:22.278 --> 40:34.588 There is another document that was published in the UCLA Law Review in 1996, so contemporaneous with the implementation of this. 40:35.308 --> 40:41.393 And that was written, it's very extensive, written by what's 40:42.230 --> 40:57.739 called the reporter, the lawyer that actually writ or wrote, the reporter that wrote the amendments, the legal changes to the Uniform Commercial Code. 40:57.779 --> 41:01.342 So he knows firsthand. 41:02.342 --> 41:08.366 And it's pretty shocking because he explains that, you know, 41:09.708 --> 41:22.272 that it was already the case by 94 that the assets were being used in this way on a vast scale. 41:22.872 --> 41:24.232 And he gives this example. 41:24.292 --> 41:26.393 He says, what do brokers do? 41:26.793 --> 41:28.053 They sell securities. 41:29.054 --> 41:33.395 So if they've sold the security, the party that bought the security 41:34.031 --> 41:41.057 doesn't know if that was done wrongly, if that was a client's security that was sold wrongly. 41:41.797 --> 41:52.446 And the same is true when securities are loaned, when securities are used as collateral for the firm to do a trade or borrow money. 41:54.328 --> 41:56.690 That's done through swap contracts. 41:59.610 --> 42:04.595 So the party on the other side of that contract doesn't know if that was done wrongly. 42:04.997 --> 42:08.980 They can't possibly know that because this is a normal thing. 42:09.821 --> 42:14.104 They also can't know how many times it's already been used as collateral for something else. 42:14.865 --> 42:15.406 Yes. 42:15.746 --> 42:17.507 And does that matter in the end? 42:17.988 --> 42:23.652 Is that need to be sorted out and that's what the trick is or it doesn't matter because it's all zero? 42:24.353 --> 42:25.374 No, it does matter. 42:25.494 --> 42:29.597 What they've done is created a mush ball intentionally. 42:29.957 --> 42:33.240 Again, you could put this in front of a classroom of 12-year-olds 42:34.885 --> 42:42.755 And it explained that you have client assets that are now being used in this way without restriction. 42:43.356 --> 42:44.837 Is there going to be a problem with that? 42:45.538 --> 42:51.666 And so they knew full well that this was going to be a problem and it was actually illegal. 42:52.501 --> 43:02.047 what they were doing, and so they made these amendments in 94 to make it legal, what they were doing. 43:02.067 --> 43:09.092 But those amendments you're talking about had to be, and I think this is a crucial part of the history, had to be changed at the state level, is that correct? 43:10.256 --> 43:12.437 Well, they chose to do it at the state level. 43:12.477 --> 43:18.538 But then that suggests a very organized effort over several years to put people in position. 43:18.618 --> 43:19.659 Oh, those those. 43:19.679 --> 43:35.443 Well, that's that's what I, you know, explain in the book is that this was a very sophisticated, very intelligent design, deliberate process implemented over half a century. 43:35.463 --> 43:39.024 And that 43:41.273 --> 43:46.315 That's very important to know that, that this is not something that happened accidentally. 43:46.335 --> 43:55.457 It is not something that happened organically because the market was demanding it. 43:55.617 --> 44:03.019 It was done through a conscious design, start to finish. 44:03.919 --> 44:06.560 So it was really beginning 44:07.669 --> 44:10.230 in the late 1960s. 44:10.751 --> 44:13.272 And now we're getting down into the weeds a little bit here. 44:13.292 --> 44:16.614 In 1968, they created something they refer to as the paperwork crisis. 44:24.608 --> 44:38.793 And what they did was every Wednesday for just six months, they closed the New York Stock Exchange because they said they couldn't keep up with dealing with the volume of trading with paper certificates. 44:40.346 --> 44:44.868 And then in December, that stopped. 44:45.769 --> 44:55.333 But they used that as a justification to dematerialize securities, to get rid of paper certificates. 44:56.154 --> 44:57.214 Now, what did that do? 44:57.775 --> 45:04.738 When we had paper certificates, it was very clear who had control of the collateral. 45:06.136 --> 45:08.719 If you had the certificate, you had control. 45:08.779 --> 45:16.546 But on the movies, the terrorists are still carrying around like whole suitcases full of bearer bonds or something like that. 45:16.586 --> 45:23.532 I mean, they still occasionally show us images of some form of money at that level or not. 45:24.164 --> 45:28.645 I think bearer bonds have been phased out to a large extent. 45:28.685 --> 45:29.985 That used to be a thing. 45:30.005 --> 45:32.446 I don't know that you can get bearer bonds anymore. 45:32.466 --> 45:33.206 I see, okay. 45:33.766 --> 45:36.666 But they use them in movies for sure still, which is pretty funny. 45:36.726 --> 45:50.169 Yeah, it's kind of a thing of the past, but that was used... They create the impression that there's something wrong with people having control of their own property. 45:51.069 --> 45:51.649 Yeah, right. 45:53.779 --> 46:14.263 So this paperwork crisis, what happened at that point was they created the Justification of Form Depository Trust Corp to house all the dematerialized securities. 46:14.783 --> 46:19.044 Now, the guy they tasked with doing that was a guy named William Denser. 46:19.977 --> 46:23.158 who was a career CIA operative. 46:23.938 --> 46:30.519 And this is just very clear in his own memoir, in his interviews that he did. 46:30.539 --> 46:44.781 He had come out of college and essentially worked for the CIA in Europe, forming anti-communist student organizations, and they arranged his draft deferment so he could do that. 46:45.481 --> 46:49.362 And then he worked explicitly for the CIA for five years 46:50.171 --> 46:53.294 And then he went with USA to Latin America. 46:54.434 --> 46:58.437 And then he came back to do this task. 46:59.218 --> 47:07.845 And it's interesting in his memoir, he says his interest had shifted back to the US following the assassinations. 47:09.546 --> 47:12.688 So it's a very strange comment. 47:13.289 --> 47:16.171 What would the assassinations have to do with this? 47:16.954 --> 47:26.298 But the paperwork crisis began six days after the assassination of Robert Kennedy and ran for six months. 47:27.119 --> 47:40.745 And they brought Denser back and he had no background in banking or finance at all and was appointed by Nelson Rockefeller as superintendent of banks in New York state. 47:42.505 --> 47:43.506 And then they appointed him 47:46.949 --> 47:54.791 to be the CEO of the newly formed Depository Trust, which would house all of the dematerialized securities in the U.S. 47:54.831 --> 47:55.832 financial system. 47:56.752 --> 47:57.872 So that's how that worked. 47:58.472 --> 48:06.435 So the dematerialization, what that allows is fuzzing up who has control of the property. 48:08.675 --> 48:11.076 So it's a necessary precondition 48:11.923 --> 48:21.633 But it did not have to be done that way because at the same time, they were also forcing all the G30 countries to dematerialize. 48:21.673 --> 48:27.259 So this is a vast geopolitical strategy that was being put in place. 48:29.424 --> 48:37.289 Now, Sweden, Sweden is the kind of place where they want the gold star and the pat on their head. 48:37.469 --> 48:39.690 So they do it the first, the best. 48:40.291 --> 48:42.792 So they dematerialize very fast. 48:43.292 --> 48:51.498 But they did not understand that they were actually supposed to sever people's property rights in doing that. 48:51.978 --> 48:55.220 So they implemented it so that they made sure 48:55.976 --> 49:02.218 that in the electronic record keeping, you had specific identification to securities. 49:02.838 --> 49:07.800 So there's no reason that it couldn't be implemented, especially with computerization. 49:08.220 --> 49:12.722 It couldn't be implemented so that you could know exactly who owns what. 49:13.642 --> 49:16.203 and that is what Sweden did. 49:16.223 --> 49:30.950 Then the legal certainty group identified Sweden as being problematic because Sweden had done it in a way to assure that people had property rights to their securities. 49:31.490 --> 49:36.633 So I'm relating this to show there's a long beginning to this 49:37.250 --> 49:53.695 But it's been, there's been a very consistent, relentless implementation decade by decade to get to a point where this is now the case globally. 49:54.115 --> 49:59.837 So it's done first in the US, but then it had to be harmonized, as they say. 50:00.419 --> 50:14.925 So pressure had to be brought on the rest of the world to conform to this way of doing it, to treat securities as a fungible thing that could then be used elsewhere. 50:15.405 --> 50:16.726 So where is this going? 50:17.146 --> 50:18.606 This is the sleight of hand. 50:20.547 --> 50:24.249 So the public used to have a direct property interest. 50:24.349 --> 50:25.369 It was very clear. 50:25.909 --> 50:29.891 It meant if there were failures in the financial system, it wasn't your problem. 50:30.373 --> 50:33.195 You just said, here's where you return my property. 50:33.876 --> 50:36.177 So that has been severed. 50:36.257 --> 50:43.182 Now you have, and by you, I mean, even the big boys, the big players, it's the same thing. 50:43.643 --> 50:54.150 The big institutions have essentially an unsecured claim in the event of insolvency. 50:54.470 --> 50:56.512 Now at the other end of the food chain, 50:59.545 --> 51:03.429 You have these derivatives contracts where the collateral is being used. 51:03.509 --> 51:04.330 Now, what are those? 51:04.430 --> 51:05.791 Those are contracts. 51:06.432 --> 51:10.136 Contracts never would have had a property interest. 51:10.894 --> 51:12.616 in insolvency. 51:13.296 --> 51:30.930 So they've severed the property interest at the investor level, and they've given a super priority to the pooled assets, to the secured creditors behind the derivatives complex. 51:31.570 --> 51:39.797 So now the other thing to know is that it is only, as we were explaining here, 51:40.310 --> 51:41.971 It's a game of musical chairs. 51:42.031 --> 51:46.012 There isn't enough collateral to go around, and that is by design. 51:46.453 --> 51:53.316 It means that, you know, the great unwashed will be left out. 51:53.696 --> 52:01.579 The public, globally, the... When you say globally, it's maybe a good time for me to inject this in. 52:01.619 --> 52:04.360 How does Russia and the BRICS fit into this? 52:04.420 --> 52:05.421 Are they just another... 52:06.221 --> 52:09.724 reflection of the same control mechanism with different people at the top? 52:09.804 --> 52:12.547 Or are they actually separate fighting this New World Order? 52:12.567 --> 52:14.889 Because some people think Russia's against the New World Order. 52:17.571 --> 52:29.322 I, I would have to say that I would I would observe that the Russian Central Bank is in appearance of 52:30.457 --> 52:33.481 a public institution. 52:33.721 --> 52:39.808 It is privately owned and controlled, just as all the other central banks are. 52:42.331 --> 52:48.117 To say it is a public institution, it means that the government may own the building. 52:48.564 --> 52:49.445 that they're using. 52:49.945 --> 52:56.050 But since the collapse of the USSR, it is privately controlled. 52:56.070 --> 52:59.272 It is a member of the Bank for International Settlements. 53:00.553 --> 53:11.301 The assets, Russian assets, are in Euroclear, which is vulnerable to this in the same way that 53:14.859 --> 53:20.705 You know, the Depository Trust Corp is a structure for this. 53:22.086 --> 53:26.571 So I don't see Russia as being outside of this system. 53:28.673 --> 53:28.973 I see. 53:29.073 --> 53:31.376 Now, I can't, I can't 53:32.276 --> 53:35.061 I haven't gone into looking at China. 53:35.161 --> 53:44.598 I just observed that you can look at what China has done through the whole COVID period, and they have clearly been a participant in all of this. 53:45.487 --> 53:52.992 So I don't see the idea that the Bricks are somehow outside of this. 53:53.432 --> 54:01.517 Is there a mechanism in your imagination or in your knowledge where these separate entities could still be competing within this? 54:02.237 --> 54:09.421 So, you know, they all know that this is a charade and they all know it's a game of musical chairs, so they could be competing for the chairs that are left. 54:09.582 --> 54:10.922 I think that's possible. 54:11.163 --> 54:15.005 I think of them as kind of like the playground bullies. 54:15.848 --> 54:22.531 that are beating up on everybody else, but they kind of jostle each other for dominance. 54:22.631 --> 54:23.991 I think that's possible. 54:25.872 --> 54:31.014 But they have intelligence capabilities. 54:31.094 --> 54:35.636 They know full well that this is the case. 54:36.316 --> 54:39.238 But they're in a situation where they can't leave the planet. 54:39.698 --> 54:41.759 They're in this epic, 54:43.389 --> 54:46.513 geopolitical process that is unfolding now. 54:46.853 --> 54:49.316 They have to be a part of it. 54:49.717 --> 54:52.280 But one thing you see is they never call it out. 54:53.000 --> 54:56.244 They're not going to out these things. 54:56.665 --> 54:58.787 So they're participating on some basis. 54:59.087 --> 54:59.308 Right. 55:00.089 --> 55:00.269 Wow. 55:01.880 --> 55:10.982 It's I mean it's magnificent so since you publish your book, I mean is there another book in the making, I mean it seems to me like it's not a finished story or is it a finished story, I mean. 55:12.282 --> 55:28.506 Well, I mean there's a lot to work with with this and let me let me explain I I say to people this is a gift to us because we're we we've been in 55:30.658 --> 55:33.018 There's a science to overwhelming us. 55:35.099 --> 55:54.063 It began with manufactured consent in the 80s, the idea of, you know, getting into the news cycle, frightening, often conflicting, distasteful, relentless exposure to this stuff so that people reach a point where they just say, just leave me alone. 55:54.083 --> 55:56.143 I don't I don't want to hear more about this. 55:57.010 --> 56:00.631 And now we've gone to a kind of full spectrum assault. 56:01.071 --> 56:02.911 We're in a global hybrid war. 56:03.011 --> 56:07.552 So people are so overwhelmed that they can't. 56:08.532 --> 56:16.853 There are so many problems coming at us that we can't really deal with them all, taking them one by one. 56:17.834 --> 56:25.775 So what is valuable about this insight into what they've done here 56:26.790 --> 56:33.931 is firstly, it's something that can unite all people globally once they understand this. 56:34.031 --> 56:39.572 So, you know, when people are overwhelmed, it's like an oil canvas. 56:40.253 --> 56:43.393 More information doesn't penetrate. 56:43.413 --> 56:44.653 It just runs off. 56:44.853 --> 56:45.094 Right. 56:45.434 --> 56:52.855 So there is something is needed that will punch the hole so that the information starts going in. 56:53.288 --> 56:55.909 And as we know, it's been different for each of us. 56:57.730 --> 56:59.291 It's different for each person. 56:59.992 --> 57:12.058 But for some reason, what's happened here is while people may have been shut down about everything that happened in the COVID period, it's just too unpleasant for them to deal with. 57:13.479 --> 57:15.900 This gets through to people. 57:17.000 --> 57:21.243 It's weird that people would care more about their IRAs than 57:22.705 --> 57:24.347 being injected with something. 57:24.747 --> 57:25.989 But that is the case. 57:26.029 --> 57:27.030 People care about their money. 57:27.110 --> 57:27.931 And so it punches the hole. 57:27.951 --> 57:28.992 And then we have this 57:40.633 --> 57:47.297 irrefutable primary source documentation that this really is the case. 57:47.417 --> 58:00.164 You also actually told a wonderful story or shared a wonderful story with some other people on stage at the Red Pill Conference about what you've done in America, where you've actually changed a law or two, right? 58:00.864 --> 58:02.825 Well, what's happened is, so 58:07.369 --> 58:17.876 People might read the book or see the documentary and some part of the mind says, well, maybe this isn't really true, even though all the evidence is there and you can know it. 58:18.296 --> 58:27.042 But then once it was put in a bill, so this is, JJ, where you're going, in the first, this has happened very quickly. 58:27.562 --> 58:29.564 So the book, the PDF came out in July. 58:29.584 --> 58:30.724 So it's been nearly a year now. 58:35.100 --> 58:38.264 The documentary was in really the beginning of December. 58:38.924 --> 58:47.814 And then, so Lightspeed, the first bill to reverse this was in South Dakota in February. 58:48.856 --> 58:55.383 And when you have something in a bill, it starts making it real for people. 58:56.363 --> 58:58.845 that this is real. 58:59.326 --> 59:17.921 Then when you see the response of the banking lobby, which is on record, and we see that they cannot refute this, they have to engage basically in lying and procedural tactics to prevent the bill from being heard. 59:18.281 --> 59:19.943 That makes it real in a big way. 59:20.463 --> 59:22.145 So that happened in February. 59:23.678 --> 59:25.419 I'll explain what happened there. 59:27.500 --> 59:36.583 So the other thing is that it forces people to actually look at what is in the UCC for the first time in decades. 59:37.103 --> 59:41.525 And what you see is how the subterfuge works. 59:43.366 --> 59:49.388 At one level, on the surface, it says that, so let me explain. 59:49.408 --> 59:52.229 They created this concept of an entitlement. 59:53.083 --> 01:00:01.027 that you don't have a direct property right, they'll call it a property right, but it's a security entitlement. 01:00:01.387 --> 01:00:04.969 Now, this is a legal concept that had never existed before. 01:00:05.769 --> 01:00:13.593 So you have an entitlement claim, which is a set of rights, basically. 01:00:14.834 --> 01:00:20.857 So they call it a property right, but it does not function as a property right in the event of insolvency. 01:00:21.770 --> 01:00:33.820 So what you see in the code is, to begin with, it says that the entitlement holders have priority over the secured creditors of the intermediary. 01:00:34.740 --> 01:00:46.490 And this is what was used to sell the amendments in 1994 that to say that this is assuring the protection of the entitlement holders. 01:00:47.492 --> 01:00:51.435 But there's then an exception, which is not read. 01:00:51.915 --> 01:00:55.518 And this is what the banking lobbyists did in the hearing. 01:00:55.878 --> 01:01:00.302 They would read the assurance and omit the exceptions. 01:01:01.062 --> 01:01:05.546 And the people who brought the bill were given no opportunity for rebuttal. 01:01:07.227 --> 01:01:09.389 That's what they did procedurally. 01:01:09.789 --> 01:01:12.791 But the exceptions are two things. 01:01:14.173 --> 01:01:17.115 If the secured creditor has control 01:01:18.393 --> 01:01:21.916 the secured creditor has priority over the investors. 01:01:22.336 --> 01:01:23.577 Now, what is control? 01:01:24.337 --> 01:01:32.563 Control is a concept in bankruptcy, which means that the creditor has the ability to sell the asset. 01:01:33.524 --> 01:01:42.931 And if you think about it, when we had paper certificates, if you hadn't signed over the certificate, they did not have control. 01:01:43.711 --> 01:01:45.773 But once they were dematerialized, 01:01:46.269 --> 01:01:55.794 and they assured that there was no specific identification to any security, they have control 100% of the time. 01:01:56.654 --> 01:02:02.037 So that is an exception you can drive an ocean liner through. 01:02:03.578 --> 01:02:13.863 The second exception is that if the creditor is a creditor of a clearing entity, it has priority. 01:02:14.283 --> 01:02:16.004 Now, what's a clearing entity? 01:02:16.377 --> 01:02:27.406 That would have been something like Lehman Brothers or Goldman Sachs, but it is also Depository Trust Corp. 01:02:28.648 --> 01:02:36.414 There are entities within Depository Trust Corp, something called a central clearing counterparty. 01:02:38.916 --> 01:02:42.900 And this is another very important piece of this. 01:02:44.346 --> 01:02:49.747 And it shows the deliberateness of the implementation to this end stage where we are now. 01:02:52.147 --> 01:03:00.729 They use the great financial crisis, as they call it, 2008, 2009, for a number of things. 01:03:00.829 --> 01:03:10.871 They use the Lehman Brothers bankruptcy to demonstrate, to cement the case law that the secured creditors take the client assets. 01:03:11.331 --> 01:03:12.771 That was the purpose of Lehman. 01:03:14.250 --> 01:03:18.212 And I can go into that in detail, but let's leave that for a moment. 01:03:18.692 --> 01:03:33.078 The second thing was they used that crisis to assert that having a counterparty on your derivatives contract was too risky. 01:03:34.798 --> 01:03:36.159 So historically, 01:03:38.049 --> 01:03:49.174 Think of these contracts like a commodities contract where a farmer was selling the crop forward at harvest time at a given price and date. 01:03:50.015 --> 01:03:54.577 And there was some party on the other side that wanted to buy at that price and date. 01:03:55.057 --> 01:04:00.540 So it served a societal purpose. 01:04:02.361 --> 01:04:06.563 They were willingly entered into by both parties. 01:04:08.468 --> 01:04:15.254 Then that was extended into financial contracts with things like interest rates. 01:04:15.915 --> 01:04:22.841 So that if you had a fixed rate mortgage, you could swap into a floating rate mortgage or vice versa. 01:04:23.542 --> 01:04:27.526 So they became these different types of financial contracts. 01:04:28.246 --> 01:04:35.167 So in there, but there were they were bilateral, you know, you knew what entity was on the other side. 01:04:35.807 --> 01:04:41.268 So they use this this last financial crisis to say that's too risky. 01:04:41.308 --> 01:04:44.849 We are going to centrally clear all derivatives. 01:04:45.289 --> 01:04:49.990 And this is now been done globally so that you don't have a counterparty. 01:04:50.410 --> 01:04:54.951 Your counterparty is this central clearing counterparty. 01:04:55.734 --> 01:05:00.417 And there are a number of them around the world, but it's always a central clearing counterparty. 01:05:01.518 --> 01:05:10.445 Now, what that means is if the central clearing counterparty fails, you have no counterparty behind your contract. 01:05:11.105 --> 01:05:19.652 So all of the different pension funds, we know that the financial markets are at a very frothy kind of peak here. 01:05:20.172 --> 01:05:23.535 All the entities that think that they have 01:05:24.451 --> 01:05:27.712 hedge the downside risk for a fall in the market. 01:05:27.812 --> 01:05:35.534 They've done that with derivatives contracts, but their counterparty is one of these central clearing counterparties. 01:05:37.354 --> 01:05:39.815 So- Are we talking about everything? 01:05:39.855 --> 01:05:44.396 I mean, I'm trying to think of all the kinds of weaponized piles of money that my little brain knows of. 01:05:44.456 --> 01:05:48.897 Are we talking about like endowments at universities and- Everything, everything. 01:05:48.937 --> 01:05:50.757 The money of townships? 01:05:52.238 --> 01:05:53.158 You know, like, wow. 01:05:55.131 --> 01:05:58.814 Well, what I'm talking about is there is no way out of this. 01:05:58.914 --> 01:06:00.655 It has been done comprehensively. 01:06:00.775 --> 01:06:03.317 So all securities are pooled. 01:06:03.958 --> 01:06:09.902 All securities are being used as collateral behind this complex. 01:06:09.922 --> 01:06:16.167 And all the entities that have tried to hedge their downside risk have done it in the derivatives complex. 01:06:16.908 --> 01:06:22.752 So the failure point by design is the central clearing counterparties. 01:06:23.513 --> 01:06:24.554 Now here, 01:06:25.643 --> 01:06:33.925 This makes it very clear, Depository Trust Corp, which houses the entire securities complex of the U.S. 01:06:35.065 --> 01:06:47.948 and two of the major central clearing counterparties globally, the entire capital of Depository Trust Corp is about $3.5 billion. 01:06:48.188 --> 01:06:53.949 That doesn't sound like very much. 01:06:54.795 --> 01:06:55.956 Yes. 01:06:55.976 --> 01:06:58.097 So that will be wiped out. 01:06:58.917 --> 01:07:00.698 That is absolutely nothing. 01:07:02.599 --> 01:07:19.967 And so now to underscore that, the industry, including Depository Trust Corp itself, has been talking about preparing for the failure of central clearing counterparties for a number of years now. 01:07:21.256 --> 01:07:24.679 Um, I'd say the discussions of that were beginning in about 2000. 01:07:26.121 --> 01:07:44.277 I was seeing, so it's been going on for, for, uh, you know, a number of years and depository trust for its part has said, well, we don't believe that our members, you see depository trust is essentially owned by the big banks. 01:07:44.778 --> 01:07:47.639 the big financial entities that stand behind this. 01:07:48.319 --> 01:07:55.822 So they've said, we don't think that our members should put more capital at risk in this. 01:07:56.162 --> 01:08:02.445 Our intention is to pre-fund a new central clearing counterparty when one of these fails. 01:08:04.305 --> 01:08:13.289 So what would happen when the central clearing, so it's designed to fail, when it fails, that then 01:08:14.272 --> 01:08:34.547 means that there's no counterparty behind these contracts, but the biggest banks have the ability to take the collateral at that point behind the contracts that they have with the central clearing counterparty. 01:08:34.927 --> 01:08:38.450 And only they have this super priority to do that. 01:08:39.030 --> 01:08:41.833 So let me explain how this would work. 01:08:41.893 --> 01:08:43.614 Let's say you're 01:08:44.864 --> 01:08:46.946 you're going into a financial collapse. 01:08:47.306 --> 01:08:59.816 And there's a fairly recent, there are a couple of documents from the Bank for International Settlements, one in December and one earlier this year, basically describing what is gonna happen. 01:09:00.457 --> 01:09:09.204 And so there is something called initial margin, which is the way things normally work. 01:09:09.544 --> 01:09:12.667 If you think of a margin account, when you have a brokerage account, 01:09:13.083 --> 01:09:20.909 that is a margin account, you have to have some cash in there or assets in order to lever up to buy more. 01:09:21.430 --> 01:09:28.035 So the margin is what has to be posted under a contract that is entered into. 01:09:28.516 --> 01:09:35.221 And the initial margin is typically cash and government bonds are used for that. 01:09:35.962 --> 01:09:42.147 But this document in December makes it clear there's also something called the collateral fund. 01:09:43.511 --> 01:09:51.938 And that is described as what will neutralize losses, neutralize the losses. 01:09:52.738 --> 01:10:09.011 So what will happen there is also a discussion of a kind of margin spiral, where as asset prices fall, there will be a call for more and more collateral will have to be posted. 01:10:10.011 --> 01:10:12.133 And there won't be enough cash 01:10:13.261 --> 01:10:19.066 and government bonds to provide that collateral. 01:10:19.686 --> 01:10:27.292 So then there will be all kinds of things will be posted as collateral in this collateral fund. 01:10:27.392 --> 01:10:39.201 This is how the pools will then be used to backstop these derivatives contracts, these calls for more and more collateral. 01:10:39.642 --> 01:10:40.042 But then 01:10:40.672 --> 01:10:48.954 When the central clearing counterparties fail, it is only the biggest banks that have the super priority to take the collateral. 01:10:49.014 --> 01:10:51.815 So this is the answer to the game of musical chairs. 01:10:54.796 --> 01:11:02.558 It's designed so that there won't be enough seats and only certain entities will take all the collateral at that point. 01:11:03.019 --> 01:11:07.940 Now, there's another important document that I show in the book and this chart 01:11:08.476 --> 01:11:32.474 from a Bank for International Settlements document that's already 10 years old, it's from 2014, showing that there is an automated system to sweep this collateral globally and particularly in a financial crisis. 01:11:33.295 --> 01:11:37.558 So it will all be automated and through 01:11:38.254 --> 01:11:55.033 something termed collateral transformation, even things other than government bonds, high quality government bonds, so think equities, hold equities, will be used as collateral in the collapse. 01:11:55.053 --> 01:11:56.294 So there 01:11:58.786 --> 01:12:01.528 You know, that's another primary source document. 01:12:01.949 --> 01:12:05.872 They basically show you exactly what they're doing in their own documents. 01:12:05.932 --> 01:12:09.555 So this is not conjecture. 01:12:10.055 --> 01:12:15.900 You know, it's not like reading somebody's article written about this. 01:12:16.080 --> 01:12:21.364 You can really see it in their own descriptions how this will work. 01:12:23.038 --> 01:12:28.022 And so what about the way that they bundled mortgages together? 01:12:28.142 --> 01:12:34.607 And does that put actual private property or what we think of as private property in America also technically? 01:12:34.667 --> 01:12:37.129 Yeah, I think that's a separate thing. 01:12:37.230 --> 01:12:45.897 You know, in the book, I basically say, look, people might find this difficult to believe. 01:12:45.957 --> 01:12:47.778 How could anything like this happen? 01:12:47.838 --> 01:12:49.379 But it already has happened. 01:12:50.504 --> 01:12:58.328 exactly what was done in the Great Depression, in that a crisis was created in order to take everything. 01:12:59.989 --> 01:13:01.470 But that was the great taking 1.0. 01:13:03.070 --> 01:13:11.615 And that is taking things that have been bought with financing. 01:13:12.355 --> 01:13:16.037 So yes, all real estate where you have mortgages, 01:13:18.067 --> 01:13:34.422 and toasters bought on consumer credit, you know, whatever it is, whatever it is, but that taking of things through a boom-bust cycle, through the operation of debt, that is ancient. 01:13:35.131 --> 01:13:37.512 That is an ancient, ancient practice. 01:13:37.592 --> 01:13:42.833 So there's nothing new about taking property during the bust phase. 01:13:43.213 --> 01:13:44.794 This way it's always been done. 01:13:45.494 --> 01:14:00.699 But this, in the Great Taking 2.0, they have figured out a way to take even property, think stocks and bonds, collateral, that you have not borrowed against. 01:14:01.139 --> 01:14:02.579 You own free and clear. 01:14:03.200 --> 01:14:04.280 And to do it globally. 01:14:05.060 --> 01:14:13.862 So it will be much more comprehensive than what was done even in the Depression. 01:14:16.442 --> 01:14:20.603 Now, to think well, they wouldn't do anything like this. 01:14:21.364 --> 01:14:28.185 But when you go back and you look at what was done then, J.P. 01:14:28.225 --> 01:14:32.886 Morgan was a front organization for the Rothschild banking interests. 01:14:33.859 --> 01:14:35.060 I think that's pretty clear. 01:14:35.380 --> 01:14:35.740 J.P. 01:14:35.780 --> 01:14:45.464 Morgan was not an independent actor and actually had a relatively small amount of wealth personally when he died. 01:14:46.024 --> 01:14:50.386 So he was he was fronting for the banking interests in Europe. 01:14:51.026 --> 01:14:54.667 They created a crisis in 1907. 01:14:56.728 --> 01:15:01.170 And then they use that as justification for 01:15:02.233 --> 01:15:04.574 some kind of banking reform. 01:15:05.054 --> 01:15:06.475 Now, why were they doing this? 01:15:06.535 --> 01:15:10.377 So Ed Griffin has gone into this deeply. 01:15:10.477 --> 01:15:19.662 And of course, the classic book Creature from Jekyll Island is a real treasure and all the supporting documentation there. 01:15:20.142 --> 01:15:30.247 So one thing Ed did was to go into the memoirs and statements made by the people who were present at this meeting in 1910 on Jekyll Island. 01:15:31.270 --> 01:15:41.658 And what is clear is that they were doing this because the growth in the economy was outside their control. 01:15:42.739 --> 01:15:49.905 The major growth in banking was outside of the banks controlled by the European banking interests. 01:15:51.786 --> 01:15:53.508 And the U.S. 01:15:53.648 --> 01:15:57.030 industry was largely self-financing. 01:15:57.511 --> 01:15:59.092 So they did not need their credit. 01:15:59.835 --> 01:16:00.916 So what did they do? 01:16:02.276 --> 01:16:07.078 They created this crisis to justify forming the Federal Reserve. 01:16:07.739 --> 01:16:14.382 They implemented it essentially on Christmas Eve in 1913. 01:16:14.502 --> 01:16:17.703 So it was done quietly. 01:16:18.443 --> 01:16:23.185 And then World War I began eight months later. 01:16:23.205 --> 01:16:28.548 Now, this is how central banks, they're joined at the hip with warfare. 01:16:30.712 --> 01:16:38.960 Because what happened during the war was the Fed created the money out of thin air to buy U.S. 01:16:39.040 --> 01:16:45.526 Treasury securities that then became the capital base for the Fed. 01:16:46.787 --> 01:16:50.931 It was Treasuries that they bought for nothing, essentially. 01:16:51.591 --> 01:16:53.053 And then with the war, 01:16:53.652 --> 01:16:57.594 there was a vast expansion in government debt. 01:16:58.334 --> 01:17:04.578 So not only in the US, but this would have worked quite well for the Bank of England as well. 01:17:04.658 --> 01:17:06.739 This is how the Bank of England was born. 01:17:07.259 --> 01:17:12.241 So they say warfare is the health of the state. 01:17:12.622 --> 01:17:13.942 That's not really quite right. 01:17:14.082 --> 01:17:17.164 It's the health of the central banks is warfare. 01:17:17.744 --> 01:17:20.566 So they use that to establish their, 01:17:22.200 --> 01:17:23.041 their power. 01:17:23.181 --> 01:17:31.143 Now, the entire society is essentially paying them interest on the credit creation now. 01:17:31.683 --> 01:17:34.965 But it's it's more brilliant than that. 01:17:35.445 --> 01:17:42.467 Even what they did then was they this happened pretty quickly from through. 01:17:42.547 --> 01:17:47.829 So the war is consolidated or gave them this vast power. 01:17:48.496 --> 01:17:57.978 Then they created the bubble in the 20s, and then they created the collapse in 1929 through 1933 with the bank failures. 01:17:58.038 --> 01:18:03.960 And then when they closed the banks in 1933, March of 1933, they put out of business literally all of their competitors. 01:18:15.982 --> 01:18:19.243 Over 9,000 banks were not allowed to reopen. 01:18:19.763 --> 01:18:24.204 So they comprehensively did that. 01:18:24.624 --> 01:18:30.386 The only banks allowed to reopen were the Federal Reserve System banks. 01:18:30.506 --> 01:18:31.106 Pretty neat. 01:18:32.307 --> 01:18:34.227 Yeah, that is spectacular. 01:18:34.927 --> 01:18:43.430 Then they confiscated the gold from the public shortly thereafter that. 01:18:44.718 --> 01:18:47.200 It was basically kind of a one-two punch. 01:18:47.260 --> 01:18:49.222 That also happened in March. 01:18:49.722 --> 01:18:54.906 So now what I point out in the book, you know, I'm from Cleveland. 01:18:55.526 --> 01:19:07.955 They built, the Federal Reserve Bank in Cleveland has the largest bank vault in the world with the largest hinge ever on a bank vault. 01:19:08.756 --> 01:19:10.297 And they built that in 1923. 01:19:12.668 --> 01:19:16.551 So what did they think they were going to put in this vast vault? 01:19:17.051 --> 01:19:19.253 Why were they building that in 1923? 01:19:19.933 --> 01:19:22.355 So we got the answer 10 years later. 01:19:22.415 --> 01:19:25.076 They work on these kinds of 10-year cycles. 01:19:25.797 --> 01:19:29.820 So the rationale was they had to have the gold. 01:19:29.880 --> 01:19:37.485 They had written it in the Federal Reserve Act that the Federal Reserve could only expand credit based on the gold it held. 01:19:38.085 --> 01:19:42.008 So they claimed that they had to have the gold in order to expand credit. 01:19:42.383 --> 01:19:44.344 But then they did not expand credit. 01:19:44.764 --> 01:19:47.806 They kept conditions tight for years. 01:19:48.867 --> 01:19:50.988 So what was the purpose of taking the gold? 01:19:51.048 --> 01:19:53.449 It was so there was no parallel system. 01:19:54.090 --> 01:19:57.732 There was nothing else that could start up to oppose them. 01:19:58.412 --> 01:20:07.798 So it was comprehensive and they were willing to destroy the economy. 01:20:08.359 --> 01:20:10.881 They were willing to destroy the U.S. 01:20:10.961 --> 01:20:15.904 economy and really the global economy because this was not just the U.S. 01:20:15.944 --> 01:20:17.325 that was affected by this. 01:20:17.705 --> 01:20:19.026 It was a global depression. 01:20:19.827 --> 01:20:28.673 So that shows when you really go back and look at it, they're absolutely willing to do this kind of thing. 01:20:31.414 --> 01:20:34.336 I definitely agree with that wholeheartedly. 01:20:36.077 --> 01:20:42.080 I'm going to ask you to pivot really quick and you don't have to talk very long about it. 01:20:42.200 --> 01:20:43.621 Bitcoin is a good asset. 01:20:43.681 --> 01:20:44.842 Bitcoin is crazy. 01:20:44.922 --> 01:20:46.302 Bitcoin is NSA. 01:20:47.263 --> 01:20:50.024 Yeah, I would say that. 01:20:51.085 --> 01:20:56.228 I mean, I'm not an expert on that, but my take on it is it is NSA. 01:20:57.328 --> 01:20:58.549 I say to people, 01:20:59.267 --> 01:21:08.854 Sure, I mean, you could have some, but I wouldn't think that that is gonna rescue you. 01:21:09.174 --> 01:21:18.541 It's too easy to have a backdoor into it, to get people into this and then make it, it can be very easily be made unavailable. 01:21:20.223 --> 01:21:27.608 The body language around it just has not been right, that for many years, it was not taxed at all. 01:21:28.066 --> 01:21:34.469 You know, the banking cabal does not allow something like that to happen unless they want it to happen. 01:21:34.649 --> 01:21:36.349 Oh, that's an interesting point. 01:21:36.389 --> 01:21:37.410 That's an interesting point. 01:21:39.390 --> 01:21:39.871 Interesting. 01:21:41.611 --> 01:21:47.214 Another question that I had that's now slipping my mind. 01:21:50.628 --> 01:22:07.363 You said very specifically that the central clearing parties or counter parties seem to have been designed failure point yes, and and so Who who like are those American people that run those companies? 01:22:07.423 --> 01:22:10.746 Are they international people like how are those set up? 01:22:11.146 --> 01:22:16.591 I'm just a guy who thinks of like Donald Trump had a bunch of LLC's, but if we're thinking about central 01:22:17.631 --> 01:22:18.892 Clearing counterparties. 01:22:18.932 --> 01:22:21.593 Are they are they is it called? 01:22:21.653 --> 01:22:22.773 Is it a corporation? 01:22:22.893 --> 01:22:27.515 Is it something that is formed legally or something? 01:22:27.535 --> 01:22:46.903 They would be you know corporate entities, okay So with stockholders and everything Well, no, they're not publicly There for example depository trust is owned by its members its clearing members and 01:22:47.521 --> 01:22:50.703 So they're the biggest banks. 01:22:51.383 --> 01:22:56.685 And so the members, the members that control Depository Trust are J.P. 01:22:56.725 --> 01:22:59.747 Morgan and... Oh, OK. 01:22:59.807 --> 01:23:00.647 Now I see. 01:23:00.667 --> 01:23:02.948 So it's not owned by the public. 01:23:03.048 --> 01:23:12.773 It's owned and controlled by these, essentially the cabal owns and controls Depository Trust. 01:23:13.213 --> 01:23:14.013 Now, there are 01:23:17.359 --> 01:23:30.908 You know, the Chicago Mercantile Exchange is also a central clearing counterparty, but there's a reciprocity where they're using the collateral from depository trust. 01:23:31.349 --> 01:23:37.573 So there's a kind of plumbing, there's a kind of ecosystem with these central clearing counterparties. 01:23:38.514 --> 01:23:45.659 And they are, they're, you know, they are, they're different entities in different, 01:23:46.479 --> 01:23:52.161 parts of the world, you know, but they're, they're, they're modeled on depository trust work. 01:23:52.361 --> 01:23:56.262 And you said something about it being, uh, at some point it's going to be automatic. 01:23:56.302 --> 01:24:13.247 So I was thinking more like this would be a decade of court cases, but you're saying that when a collapse happens, it'll be a, that's been the whole point of this is finality that this is what James Rogers, the guy who explained, you know, 01:24:13.766 --> 01:24:20.250 drafted the changes to the UCC, what they're saying is we can't know who owns what. 01:24:20.411 --> 01:24:31.178 All we can know with certainty is that there's finality for the secured creditor to take the pooled assets. 01:24:32.119 --> 01:24:39.464 And so the taking occurs with no judicial review. 01:24:40.342 --> 01:25:09.594 while and that would be that was already the the the principal legal principle you also said was solidified by the lehman brothers settlement or whatever they did with lehman brothers so they basically could even be that both sides of that case cooperated to make sure that the results of that case were exactly what they wanted to be i think it was uh... i mean while while you really i think we need was essentially uh... uh... 01:25:11.742 --> 01:25:37.708 you know, sacrifice was used to create the pretext for these, the legal certainty that the secured creditors keep the assets, but also making a sufficiently frightening crisis to justify, you know, unlimited powers and for the Fed and 01:25:40.649 --> 01:25:44.452 moving toward central clearing without any question. 01:25:45.173 --> 01:25:51.538 So let me just explain for your group here what happened in Lehman, which is pretty shocking. 01:25:52.078 --> 01:26:05.249 Some people say, well, the retail investors were made whole, and they get confused about that because 01:26:06.449 --> 01:26:19.498 Um, what happened was the retail accounts, that ox was not gored directly, but, but what happened was, um, all retail accounts were encumbered in the bankruptcy. 01:26:20.539 --> 01:26:21.479 So that was clear. 01:26:21.780 --> 01:26:31.406 Everybody was stuck in the bankruptcy, which would not have occurred prior to these changes, um, to, to the uniform commercial code. 01:26:32.407 --> 01:26:32.527 Um, 01:26:33.573 --> 01:26:35.894 which were not fully implemented until 2001. 01:26:36.635 --> 01:26:41.098 So, you know, we're we're this is the preparation. 01:26:41.718 --> 01:26:48.522 So what they did was basically they sold the Lehman retail business. 01:26:49.122 --> 01:27:01.450 But if you think about it, you're in the midst of a financial collapse and your broker goes bust and you have no access to your accounts now during the crisis. 01:27:02.031 --> 01:27:22.407 And the analogy I use is, if you come out of your house to go to work in the morning and your car is gone, and then a month later, the police bring back a car, not necessarily your car, but a car, does that mean that your car was not stolen? 01:27:23.448 --> 01:27:28.732 That's basically what happened there with the retail clients. 01:27:28.792 --> 01:27:30.554 But the more frightening thing 01:27:31.229 --> 01:27:37.153 is to think that the biggest, most sophisticated players, what happened to them? 01:27:38.214 --> 01:27:47.180 They had treasury securities that was their collateral that they were going to use. 01:27:47.301 --> 01:27:50.563 They needed to have during the crisis to operate with. 01:27:51.484 --> 01:27:54.286 And so Lehman was their broker. 01:27:54.766 --> 01:27:55.266 J.P. 01:27:55.306 --> 01:27:58.969 Morgan was the custodian for their assets. 01:27:59.910 --> 01:28:08.016 And JP Morgan was also the secured creditor that took their assets in the bankruptcy. 01:28:08.697 --> 01:28:14.401 So it was both their custodian and the secured creditor that took the client assets. 01:28:14.861 --> 01:28:16.062 Now, how did that happen? 01:28:17.103 --> 01:28:27.511 Lehman was using the client assets in swap contracts for its own financing with JP Morgan. 01:28:28.030 --> 01:28:32.032 including right up to the bankruptcy itself. 01:28:32.573 --> 01:28:34.374 So right on the eve of the bankruptcy. 01:28:35.054 --> 01:28:52.665 And JP Morgan, it's clear, JP Morgan knew they were using the client assets and knew they were using the client assets in escalating amounts right into the bankruptcy and then took them under these contracts. 01:28:52.805 --> 01:28:55.967 Again, it's the operation of the contracts in the bankruptcy. 01:28:57.035 --> 01:29:04.861 And so five years later, there is a bankruptcy court decision. 01:29:05.001 --> 01:29:10.566 So these big players, you'd think, well, they would be able, the big boys would be able to protect themselves. 01:29:10.626 --> 01:29:13.548 These are some of the biggest institutions in the world. 01:29:14.369 --> 01:29:24.897 And they sued to try to recover their assets under this argument of constructive fraudulent transfer. 01:29:26.207 --> 01:29:43.657 And the idea of constructive fraud is that the assets are transferred out without consideration having been given for the assets and on the eve of the bankruptcy, which is clearly what happened. 01:29:44.077 --> 01:29:51.201 So that would have been it's called constructive fraud because you don't even have to prove anything just on the face of it. 01:29:51.261 --> 01:29:52.061 It's fraudulent. 01:29:52.661 --> 01:29:52.921 But 01:29:54.503 --> 01:29:59.445 The bankruptcy court found that J.P. 01:29:59.485 --> 01:30:10.168 Morgan was entitled to keep the client assets because that is exactly what is intended under the expanded safe harbor protections. 01:30:10.988 --> 01:30:14.729 And that the only question was whether J.P. 01:30:14.789 --> 01:30:21.491 Morgan was entitled as a member of the protected class. 01:30:22.572 --> 01:30:23.592 And they found that 01:30:24.093 --> 01:30:26.676 They use that term that J.P. 01:30:26.696 --> 01:30:33.543 Morgan, as one of the biggest financial institutions, is clearly a member of the protected class. 01:30:34.344 --> 01:30:46.757 So it's it is this was really the purpose of the Lehman failure was to make this all crystal clear that that's how it's going to operate. 01:30:48.456 --> 01:30:48.896 Wow! 01:30:49.037 --> 01:30:50.778 I mean, I don't know what to say. 01:30:50.798 --> 01:31:02.786 I'm really excited because one thing is for sure, me seeing your Red Pill presentation and then that little group presentation at the end really made this sink in well. 01:31:04.908 --> 01:31:16.997 It's a really big picture kind of... What percentage of the people that are working in these industries do you think are aware of this and others are just going on thinking they're... 01:31:17.691 --> 01:31:20.533 They're just, you know, in the place where the money turns around. 01:31:21.694 --> 01:31:26.118 Well, you know, it's people don't want to know. 01:31:26.138 --> 01:31:38.048 I would say that, for example, I met with the top securities attorney at one of the banks in Sweden. 01:31:38.589 --> 01:31:41.051 This was some years ago. 01:31:41.111 --> 01:31:45.655 This is when I was trying to prevent Sweden from going along with this. 01:31:46.827 --> 01:31:49.609 And so this is the top securities attorney. 01:31:49.989 --> 01:31:51.730 He did not know anything about this. 01:31:52.270 --> 01:31:59.854 He had to go away for several days and come back and acknowledge that, yes, this is true. 01:32:00.334 --> 01:32:00.654 Wow. 01:32:00.854 --> 01:32:03.696 And that's that's how it is. 01:32:04.336 --> 01:32:09.519 People people will find that if they go to their, for example, 01:32:13.213 --> 01:32:22.580 Chris, Chris Martinson has done a lot of work on this and segments on this, and I appreciate what he's done because he's really gone and drilled down into it. 01:32:23.441 --> 01:32:38.492 And he said, I'm not sure if he says it in the in one of the interviews, but he told me that he found he had to go up four layers of management where it was denied, denied, denied, and then ultimately 01:32:39.281 --> 01:32:41.923 The answer was, well, yes, this is true. 01:32:41.943 --> 01:32:43.724 This is the case. 01:32:43.804 --> 01:32:48.048 So the people on the front lines do not know this. 01:32:48.628 --> 01:32:50.689 You know, your broker is not gonna know this. 01:32:50.770 --> 01:32:53.672 And this is, this again is the sight of hand. 01:32:53.732 --> 01:32:59.676 What they do is in federal law, there are supposedly protections. 01:33:00.517 --> 01:33:03.199 And this is the sight of, it's the misdirection. 01:33:03.279 --> 01:33:04.500 Watch this hand. 01:33:05.020 --> 01:33:07.402 This is the federal law protecting you. 01:33:08.328 --> 01:33:09.608 Keep your eye on that hand. 01:33:09.628 --> 01:33:18.711 And what the federal law is saying is that by law, the broker has to keep the client assets separate from the broker's assets. 01:33:19.992 --> 01:33:23.113 That is in the books and records of the broker. 01:33:23.613 --> 01:33:29.415 Meanwhile, they are all in the same pool at the higher level. 01:33:29.995 --> 01:33:32.616 It's called the indirect holding system. 01:33:33.476 --> 01:33:36.497 So that the broker at the broker level 01:33:37.259 --> 01:33:40.515 they don't have to know anything about that. 01:33:41.713 --> 01:33:42.454 Yeah, I see it. 01:33:42.854 --> 01:33:43.675 I see it clearly. 01:33:43.735 --> 01:33:44.035 Wow. 01:33:44.335 --> 01:33:57.747 It's it's it is mind boggling to me that it's as simple, in some ways, when you explained it also, that Sweden was able to implement their system, but still maintain some record of ownership. 01:33:57.847 --> 01:33:59.048 And that was annoying to them. 01:34:00.009 --> 01:34:02.711 Very clear, clearly and easily done. 01:34:02.751 --> 01:34:05.073 This is what shows the intention. 01:34:05.533 --> 01:34:08.296 It absolutely could be done to protect people. 01:34:08.356 --> 01:34:09.757 That is not the intention. 01:34:11.089 --> 01:34:11.249 Yeah. 01:34:11.649 --> 01:34:16.610 So, um, I have seen a link in my chat a couple of times to a PDF. 01:34:16.690 --> 01:34:19.771 Is that freely available in different places, including the web? 01:34:20.431 --> 01:34:20.691 Okay. 01:34:20.991 --> 01:34:21.211 Yeah. 01:34:21.251 --> 01:34:28.192 You can go to the great taking.com and it's a free PDF. 01:34:28.252 --> 01:34:29.373 You can download it. 01:34:29.973 --> 01:34:34.634 That is really what has allowed this to spread globally. 01:34:35.714 --> 01:34:40.855 Um, and I would, I would say that, I mean, it's possible that, 01:34:41.678 --> 01:34:44.781 you know, millions of people have this at this point. 01:34:46.743 --> 01:34:55.090 And so that's a very hopeful thing because there are, it's been examined. 01:34:55.891 --> 01:34:57.172 No one can refute this. 01:34:57.512 --> 01:34:58.813 It's absolutely the case. 01:34:59.114 --> 01:35:02.637 And you might say, well, then we're all screwed. 01:35:02.657 --> 01:35:06.781 I mean, this isn't that bad, but it's good 01:35:09.008 --> 01:35:18.772 that it is so apparent, unlike this is where I'm saying they're coming at us in this full spectrum hybrid war. 01:35:20.373 --> 01:35:25.555 And we're never going to prevail if we have to take all these threats one by one. 01:35:25.575 --> 01:35:27.136 It's just too much. 01:35:27.656 --> 01:35:29.877 Yeah, well, I think a lot of these threats aren't real. 01:35:29.937 --> 01:35:36.040 It sounds like your threat is a lot more real than the circulating coronavirus that's been going around for the last five years. 01:35:36.100 --> 01:35:37.681 And that's what bothers me the most. 01:35:39.212 --> 01:35:51.522 The more unreal things our kids are concerned with, the less likely their parents are to figure out how our assets are being stolen, how our life's work is being robbed. 01:35:53.317 --> 01:35:53.637 I don't know. 01:35:53.677 --> 01:35:55.439 I think this is a really important message. 01:35:55.499 --> 01:35:57.882 I think your work is really, really important. 01:35:57.922 --> 01:35:59.464 I don't want to take up too much more of your time. 01:35:59.504 --> 01:36:01.626 And I also want to keep this video a little bit succinct. 01:36:02.026 --> 01:36:08.173 Okay, so I think it points rightly at who is behind all this. 01:36:08.734 --> 01:36:11.356 You see all the all the misinformation. 01:36:12.273 --> 01:36:38.411 all this so i might i might stop you there and challenge you just just because i can um you you say that it says who's behind it but who who would we say is like who would we summarize it is it jp morgan oh as a you know the clearly jp morgan has been behind this for decades okay so it's it's entity jp morgan entities like jp morgan 01:36:39.292 --> 01:36:45.865 Um, what, what, what I think the really urgent thing to know is if you want all these. 01:36:46.533 --> 01:36:50.436 that all these threats against us are being funded somehow. 01:36:50.797 --> 01:36:52.919 It's not your tax dollars doing it. 01:36:53.439 --> 01:36:57.342 This is created money on a vast scale globally. 01:37:00.025 --> 01:37:08.632 So it's the taxation system is basically just a means of harassing and- Oh, wow. 01:37:08.692 --> 01:37:10.314 What a great statement that is. 01:37:10.494 --> 01:37:10.954 I love it. 01:37:11.915 --> 01:37:19.143 So if you want all the threats against you to stop, good luck taking them one by one. 01:37:19.563 --> 01:37:20.464 You can't do it. 01:37:21.485 --> 01:37:28.252 As I say, the one ring that binds them all is the central banking power. 01:37:29.593 --> 01:37:35.199 So very simply, what you would do is revoke the Federal Reserve Act. 01:37:37.128 --> 01:37:42.749 You have to literally, and this is Stockholm syndrome, that people think, oh, well, you couldn't do that. 01:37:43.349 --> 01:37:44.090 Yes, you can. 01:37:44.110 --> 01:37:55.852 It is that power that controls all the political parties, all the governments, all the media, everything that is arrayed against you. 01:37:56.412 --> 01:37:59.453 You are essentially sharpening the ax that is aimed at your neck. 01:38:05.163 --> 01:38:13.646 And the only way to stop, and the problem is we are now, they're in a phase now where they can't stop. 01:38:14.206 --> 01:38:17.307 So we're going into an escalating global war. 01:38:17.447 --> 01:38:19.128 A lot of people are dying now. 01:38:19.668 --> 01:38:22.489 It's already happening and it's going to escalate. 01:38:23.410 --> 01:38:26.831 And it will be on the scale of World War I, World War II. 01:38:26.871 --> 01:38:29.092 You know, this is what we're going into. 01:38:30.328 --> 01:38:31.729 It has to be stopped. 01:38:31.789 --> 01:38:35.111 We have to face up to the reality. 01:38:35.471 --> 01:38:37.933 So that is why this is a gift. 01:38:38.513 --> 01:38:52.963 It focuses rightly on who is behind this and it can unite people all the way to the top of the system and globally in this understanding that that's where it has to be stopped. 01:38:54.062 --> 01:38:54.322 Wow. 01:38:55.083 --> 01:38:57.504 Um, can I just say thank you for coming on the show. 01:38:57.544 --> 01:39:00.626 I'm sorry it took you so long or me so long to get my act together. 01:39:00.906 --> 01:39:06.550 And, uh, I will, I will promise to do a study hall of one of your other presentations. 01:39:06.650 --> 01:39:12.654 And then, um, maybe I can contact you in a couple of weeks with some better questions and some deeper understanding, and maybe we can do it again. 01:39:13.414 --> 01:39:13.915 Absolutely. 01:39:13.935 --> 01:39:17.437 JJ, I want to say, I enjoyed meeting you so much and, uh, 01:39:18.217 --> 01:39:20.439 It was kind of meant to be. 01:39:20.679 --> 01:39:25.844 We bumped into each other, and it was a powerful experience for me. 01:39:26.064 --> 01:39:27.226 Me too, man. 01:39:27.386 --> 01:39:29.988 I can't stress enough how that's exactly how I feel. 01:39:30.028 --> 01:39:33.011 So I'm really excited we finally made this happen, and I will be in touch. 01:39:34.052 --> 01:39:34.392 OK. 01:39:34.692 --> 01:39:34.973 Thanks. 01:39:35.073 --> 01:39:35.433 Thank you. 01:39:35.453 --> 01:39:36.414 All right. 01:39:36.554 --> 01:39:37.235 Bye, everybody. 01:39:38.430 --> 01:39:42.253 Wow, wow, wow, wow, wow, wow. 01:39:42.353 --> 01:39:44.255 Okay, so sometimes you just get lucky. 01:39:44.575 --> 01:39:50.360 And I got to thank G. Edward Griffin for inviting me to the Red Pill Show. 01:39:51.101 --> 01:39:59.729 And I can't, I got so lucky because actually after the Red Pill Conference, wow, this is not. 01:40:05.114 --> 01:40:05.514 There we go. 01:40:06.375 --> 01:40:13.719 After the red pill, actually, I found myself, we were kind of on the way to the airport at the same time. 01:40:17.261 --> 01:40:26.087 And so we shared a Uber to the airport together before we realized that another friend from Sweden actually had a rental car. 01:40:26.147 --> 01:40:30.549 So then he went in the rental car and David and I took a 01:40:33.447 --> 01:40:49.166 an uber together and then we spent the rest of the week as we're waiting for the same flight and then actually that flight was the flight where Dave David sat in front of me on the plane in the middle seat which is a fun seat for me. 01:40:50.067 --> 01:40:53.649 And then right next to David sat Andy Kaufman. 01:40:53.689 --> 01:40:55.610 So that was a real interesting. 01:40:56.210 --> 01:40:59.451 It was interesting to be a fly on the wall for that. 01:40:59.891 --> 01:41:05.234 I will confess that occasionally I put my ear in between the seats to try and hear what they were talking about. 01:41:06.074 --> 01:41:07.195 But I didn't hear very much. 01:41:08.075 --> 01:41:12.397 And as you know, I did say hello to Andy Kaufman after we got off the plane. 01:41:13.097 --> 01:41:19.018 Ladies and gentlemen, intramuscular injection of any combination of substances with the intent of augmenting the immune system is dumb. 01:41:19.538 --> 01:41:24.119 Transfection in healthy humans is criminally negligent and RNA cannot pandemic. 01:41:24.559 --> 01:41:26.720 Thank you very much for joining me on the show. 01:41:27.100 --> 01:41:37.222 There are other ways to say it, and I think one of the best ways to say it is to refer to weaponized piles of money, which I think I've got a little tiny bit 01:41:37.862 --> 01:41:50.469 better understanding of what weaponized piles of money are capable of doing and how they're being positioned to extract as much wealth as possible from us and eventually, in a collapse, grab it all. 01:41:51.009 --> 01:41:56.932 So which is, that's pretty disturbing, but it's also a very important message and one that I think David is right about. 01:41:56.972 --> 01:41:57.852 It could unite us. 01:41:57.932 --> 01:42:05.476 It could bring us all together, rich and poor, so that we all realize how much this has been orchestrated in 01:42:06.937 --> 01:42:12.426 in terms of, you know, even this mythology here and how much we've argued about it while this stuff has been going on behind the scenes. 01:42:13.128 --> 01:42:18.617 So yeah, stop all transfections in humans because they are trying to eliminate the control group by any means necessary. 01:42:19.378 --> 01:42:20.260 And yeah. 01:42:21.860 --> 01:42:25.463 There was a really, really, really good show yesterday. 01:42:25.984 --> 01:42:40.457 So if you didn't see it, skip the beginning and watch the reading of that paper because you can really see how Joshua Lederberg and others have really been formative in our understanding of these ideas and form 01:42:40.957 --> 01:42:53.381 melding them, wordsmithing them, if you will, into the shape that is the least threatening to our irreducible complexity, the sacred biology that we all have reverence for. 01:42:54.801 --> 01:42:59.883 Ladies and gentlemen, if you enjoyed the show, please share the stream at stream.gigaohm.bio. 01:43:00.883 --> 01:43:08.105 I am going to convert solely to gigaohm.bio as my means of communication within the next week. 01:43:08.125 --> 01:43:10.266 That means I will not be on X anymore. 01:43:10.826 --> 01:43:15.749 If I'm on X it will be only to post the time of the show and that's it. 01:43:15.789 --> 01:43:34.882 So that transition is going to happen really fast and that transition has been spurred in part by the absolute angel in the chat named Pamela who has kind of slapped me on the head and made me realize that that community is coming together and that work is happening there and I'm ignoring it. 01:43:35.762 --> 01:43:51.272 And so after underestimating the uptake on PeerTube and on Soapbox, I think it's time for GigaOM to kind of convert to that as being the primary front and not Twitter and not Twitch anymore. 01:43:52.133 --> 01:43:53.654 So that's where we're going. 01:43:53.674 --> 01:43:55.035 That's definitely the plan. 01:43:55.255 --> 01:43:57.817 And short courses are coming next week. 01:43:57.917 --> 01:43:59.037 So get ready. 01:43:59.057 --> 01:43:59.718 Buy a notebook. 01:44:00.498 --> 01:44:01.199 I'm pretty excited.