The Uniform Commercial Code (UCC) was changed in all states in 1994 and property rights were redefined. People no longer have property rights, but instead have an appearance of a property right.
Webb said that said that bankering elites are working to create conditions so dire that people will have no alternative or parallel system and will be forced to accept central bank digital currency (CBDC). Ultimately there is no place to hide from the destruction of property rights and economic ruin. It must simply be stopped. The UCC codes must be restored on a state level.
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Summary by JW Williams
Mr. Webb explained that property rights have been severed from stocks and bonds that were considered private property. The new system utilizes “beneficial ownership” that is merely an appearance of ownership: you can buy and sell the security and have a gain or loss on that, but you are not the legal owner. The legal ownership is with the entity that controls it as collateral. The securities are held in pooled form and used regularly without restriction, without judicial review and without payment as collateral in the financial system by other interests.
This system has been applied across the West and in Japan. Central bankers aim to harmonize the system globally.
Webb said that Article 8 of the Uniform Commercial Code (UCC) was changed so that individuals are no longer a shareholder or owner, but an “entitlement owner” similar to beneficial owner. Entitlement is a contractual claim to your property and is weak in the event of insolvency and bankruptcy — it makes the individual an unsecured creditor. This allows another entity to have priority over you to your property. While the UCC says that entitlement owners have priority over secured creditors, at the end of the paragraph, it gives an exception that negates the prior assertions.
The exception is when the secured creditor has control, then the secured creditor has priority over the entitlement holders.
UCC Article 8.5
(c) If a clearing corporation does not have sufficient financial assets to satisfy both its obligations to entitlement holders who have security entitlements with respect to a financial asset and its obligation to a creditor of the clearing corporation who has a security interest in that financial asset, the claim of the creditor has priority over the claims of entitlement holders.
Derivative investments by banks can crash the economy and take control. Derivatives are not real things, but can be used to take real things. In 2007, derivatives that were five times the global GDP were in play; it is estimated that current derivative bets may be as much as 20 times the global GDP. Upon bankruptcy, secured creditors will be given superior priority to the customer collateral.
Webb is working with states to restore property rights under the UCC laws.
Gold and silver “debit” coin as constituting constitutional legal tender administered from the state level, akin to Texas’ transactional gold legislative initiative, is a major part of counter punching totalitarian autocrat globalist thieves, no matter what party they reside in. We must get away from the left-right political paradigm continually used to divide US, knowing full well that a House divided against itself cannot stand. Abraham Lincoln and Jesus Christ whom Lincoln was quoting, are absolutely correct about that. It’s interesting how disparate parties in Israel came together to face what they perceived to be a direct existential threat. We… Read more »
Voting, unless voting by hand is useless; I still vote but until it’s by hand I have 100% no trust in that system; the machine is built in China, the software is south American and the last 3 or 4 elections have been totally insanity with added votes hinder and yon, actually have seen a jump of votes by 2 million myself and have the video; but it’s worthless when everyone else says that’s mis information. Voting is only as good as the people counting. And right now, the people “counting” are not “US”.
Do the math. Your vote does NOT ever count. No matter what.
It took me two hours to watch this one hour video – I kept having to rewind and go over things a second time to take it all in! Congratulations on a superb interview. But with the greatest respect, I think there is one thing you haven’t touched on – and that is, once the CBDC is imposed on us, the government will be able to turn off our money at will if we displease them in any way. That will kill any civil unrest stone-dead. Look what happened to the Canadian truckers – and Trudeau needed the co-operation of… Read more »
Hugo, thank you for that. I am just now studying this and wish I had done it earlier, it’s a hedge against totalitarianism as well; BUT it depends on electricity and I do believe that there may be issues there; the governments of the world want full superiority and want total control. It’s just so malevolent.
peculiarly, pcr is literally incapable of comprehending world government, inspite of all evidence.
Great video. read the book
The Great Taking by Webb is a MUST READ. There are other systems within our system that are broken and CAN NEVER BE FIXED. One is education. Get your grandkids out of the public schools and support your children in their efforts. Research Vaccinations and send info to your children and anyone you know with children. Keep the info flowing because they are still in the trenches and they need to know that the media and the standard information is ‘MISINFORMATION’….good luck everyone. It’s getting much more interesting.
Even if WE know what is going down, what will happen if the banks close (for any reason at all) for more than 3 days? What if the banks lose all their assets to the next level and so on; which they have already lost a lot this year with the fed buying their securities…; but; what will happen:? People will go crazy; people will go nuts; they will not understand that there is NO money, they will not understand that they can do some horse trading and get what they need; NO, they will go crazy. And mobs will… Read more »
Learn to pray. It really does help you figure out the difference between what you can and can not control and what you should and should not get all stressed out about.