Paul Craig Roberts

Klaus Schwab tells us that in the Great Reset that the World Economic Forum is preparing for us "you will own nothing and you will be happy." Well, we already own nothing. Our bank deposits and stocks and bonds, in the event the depository institution gets into trouble, belong to the depository institution's creditors, not to us. All assets are pooled and serve as collateral whether or not labeled "segregated."

You might remember that during the last financial crisis we were told that there would be no more bail-outs, that in the future there would be bail-ins. A bail-out is when central bank money creation rescues the favored troubled financial institutions. A bail-in is when the depositors' assets are used for the rescues.

David Rogers Webb, an experienced financial market participant, explains it in The Great Taking in 72 readable pages plus a 25 page prologue explaining who he is and a 20 page reply of the New York Fed to the European Commission Legal Certainty Group's questions. The Great Taking is available from Lulu for $10 and is free online: https://img1.wsimg.com/blobby/go/1ee786fb-3c78-4903-9701-d614892d09d6/taking-feb24-screen2.pdf

The loss of property rights in financial assets is the case throughout the Western world. The rewrite of financial property rights appears to be the work of regulatory bodies, not legislatures which seem to be unaware of it.