Sarah Smith: How Your Assets Will Soon Be Confiscated - Legally
Sarah Smith lays out the scenario by which an 'emergency' will usher in CBDC in America
[Steven Yates here. It gives me great pleasure to be able to publish on Navigating the New Normal the first article by a writer other than myself. Sarah Smith is the pseudonym for a woman I have known for around 20 years who has worked in and around state legislatures and as a policy analysis, but has chosen to write this under a different name to protect her and her family’s privacy and safety.
This article originally appeared on WorldNetDaily.com on February 9 (here). I am very grateful to Sarah and to David Kupelian of WorldNetDaily.com for giving me reprint permission. With all that said, Sarah, you have the floor.]
The director of the FBI recently went before Congress to warn that Chinese computer hackers are preparing to soon "wreak havoc and cause real-world damage" to our "water treatment plants, electric grid, and gas pipelines."
Even if I assume that our FBI director is sharing his honest concerns, the actions of the current administration betray the opposite. Our Border Patrol reports over 5,000 encounters with Chinese nationals per month. Most of these encounters are with single military-aged men. And yet our Southern border has remained wide open. If you really care about the Chinese military directing cyberattacks against our infrastructure, then wouldn't you work hard to prevent thousands of potential Chinese military agents from coming over the U.S. border without any type of vetting or tracking?
So, what is really motivating the Biden administration to invite potential Chinese terrorists into the country to "wreak havoc" and cause "real-world damage" to our nation's infrastructure? To understand that, we need to step back and take in a bigger picture of world events.
The World Economic Forum is an international organization whose leadership includes royalty like the queen of Jordan and King Charles. It also includes financial leaders like the CEO of Black Rock, the president of the World Bank and the head of the Chinese Stock Exchange. Corporate "partners" include everything from Amazon to NBC to Zoom. The founder of the WEF takes great pride in having groomed many national leaders, like Justin Trudeau of Canada, Nikki Haley and Gavin Newsom.
Clearly, we cannot ignore what the World Economic Forum is saying. In November 2020, the WEF and Carnegie Endowment for International Peace co-produced a report that warned that the global financial system was increasingly vulnerable to cyberattacks.
That same report called for the merging of Wall Street banks, their regulators and intelligence agencies (like the CIA) as necessary to confront an allegedly imminent cyberattack that will collapse the existing financial system.
This ominous report was published just months after the World Economic Forum had conducted a simulation of that very event – a cyberattack that brings the global financial system to its knees.
The WEF has also advocated a central bank digital currency, or CBDC, eerily similar to the biblical Mark of the Beast system. They have promoted their "CBDC toolkit" to policymakers.
China already has a CBDC that is tied to a person's social credit score, where a person can have his money turned "off" or "on" according that person's score. If they have the wrong political views, or even visited with someone that does (tracked through phone), then the money in their digital wallet might be reduced or its uses restricted. If you wanted to restrict people to traveling only 5 miles from home, then you could program CBDC to turn off when people tried to purchase anything 6 miles from home. CBDC technology allows for endless forms of social control.
The Minneapolis Federal Reserve Bank president, Neel Kashkari, has raised substantial objections to CBDC. He stated: "I can see why (totalitarian) China likes CBDC. If you want to monitor every transaction, impose negative interest rates, or want to tax bank accounts directly, you can do that with a CBDC" (paraphrased). Watch Kashkari here.
Since we know that the WEF wants every nation to adopt a CBDC, it does not seem far-fetched to hypothesize that WEF officials have a strong incentive to actually want cyberattack(s) to happen globally.
What evidence can we see that this is about to happen? The president of Ukraine recently signed a CBDC into law. Many other nations are making progress toward CBDC implementation.
And that includes the United States: President Biden recently signed an executive order to speed up U.S. development of a CBDC.
But Americans are not battle weary like Ukrainians nor are they compliant like Chinese under a communist dictatorship. Therefore, some type of emergency must be created in order to stampede Americans into docile acceptance of CBDC.
Usher in new lockdowns? Spread a lethal Ebola variant? Foment a civil war? Create a global oil crisis with a hot war in the Persian Gulf? Are elements within our intelligence agencies, working on behalf of the world's largest banks and WEF, helping China to engineer a series of cyberattacks on the United States in order to "create havoc" in order to implement a new financial system? David Webb says, "Yes, it is very clear that this was a CIA project."
It would not be the first time our government took extreme measures in order to implement a new financial system. On April 5, 1933, President Franklin Roosevelt issued an executive order that required Americans to turn in their gold coins, bullion and gold certificates to a Federal Reserve Bank under penalty of imprisonment and a $10,000 fine.
Recall that at that time, gold was money, in the form of gold coins or as banknotes that could be exchanged for gold. Almost all the banks were then forced to close by the government, and only a few large banks were allowed to reopen. Suddenly, no one had any money. The pretext offered was that in difficult times too many Americans were "hoarding their gold." It was a false pretext. The Federal Reserve gathered all the gold and then hoarded it itself, and still kept the new unbacked (by gold) paper money supply tight for another three years. No one had any money. Even wealthy families did not have any money. People with children in private schools found that they had to take their kids out of school in order to put food on the table.
This time it will be different. Where once gold backed up our financial system and most people were debt-free, today securities like stocks, bonds and house mortgages are the underlying collateral of the current financial system, and the majority of us are in debt. Thus, Webb, a former hedge fund manager who ran in the same circles as George Soros, writes in his new book (and film by the same name), "The Great Taking," that the largest banks that sit on the Federal Reserve's New York governing board will obtain your assets as part of the new financial reset that transfers everyone over to a CBDC system. We will be told that we need to save these "too big to fail," systemically vital institutions so we can restart the economy again.
Watch a 37-minute summary of the "Great Taking" book and movie. It makes is easier to understand the documentary below:
Watch "The Great Taking" documentary for free.
Download "The Great Taking" book for free.
And, get an attorney's review of the book's legal claims .
These large banks (JP Morgan, Goldman Sachs, Citibank and Bank of America) have been deemed by the courts as being part of a "protected class."
Every state UCC law (Uniform Commercial Code), has been rigged so that your stocks, bonds and money in the bank are no longer your property and will become theirs legally during the next financial crisis. (According to David Webb, "It is very clear that this was a CIA project.") It will happen fast, electronically and without the possibility of legal redress in court.
You suffer the illusion of asset ownership because you get use of the property. You can collect fees on a stock, or even transfer your stock to another broker for management. But, unlike the days when people were given paper stock certificates and stocks were true property, today you only have what is called "beneficial ownership." The actual owner of the stock is the brokerage. That means that if your brokerage goes bankrupt in a crisis, your assets will be used to pay off their creditors.
It's similar to your bank. When you place your funds in a bank, the bank becomes the owner of your deposits. That means that when a bank fails, your bank deposits are used to pay the bank's creditors first. FDIC insurance is supposed to cover this gap, but provides protection only if a few banks fail at one time. If even 5% of banks failed at the same time, the FDIC would not have enough funds to cover the losses. It is worse with stocks and bonds, whether in your retirement fund or bought through a broker directly. We saw this in 2008 when the brokerage firm Lehman Brothers went bankrupt. When Lehman's customers first heard that Lehman had failed, they sought to transfer their deposits to another brokerage company. But the law had changed, and these assets were used to satisfy Lehman's largest creditor in bankruptcy – JP Morgan. The depositors were furious and went to court, but the judge ruled that they were unsecured creditors while JP Morgan was both the primary secured creditor and had "protected class status" because it was a "too-big-to-fail" bank.
Your pension, 401K and any other securities are the collateral underpinning the derivatives market. The derivatives market is the largest market on the planet, representing trillions of bets with a value over a hundred times bigger than the underlying collateral (everyone's securities) – and there is no FDIC-like insurance. On each side of a derivative bet there is a winner and loser. The "too-big-to-fail" banks are all counter-parties on a massive number of derivatives bets. Since the derivatives complex is many times bigger than the underlying collateral of securities, when things go south there will be a mad scramble to get at the underlying real wealth: the securities that represent the sweat and equity of real people. The derivatives complex is like a house of cards, and its dangers have been known for decades.
Warren Buffett wrote in 2002 that they were "financial weapons of mass destruction." James Rickards wrote in U.S. News & World Report in 2012 that they should be banned.
A cyberattack disabling the electrical grid and financial system could certainly take down the derivatives complex and the entire financial system with it. A U.S. civil war could set it off, as could another 9/11 attack, a major oil embargo, or a more lethal form of Chinese COVID. The resulting chaos will provide the excuse to reset the financial system and usher in CBDC. People will be distracted by the chaos, and fail to recognize that the chaos was generated, in large part, because a group of central banksters, and their CIA waterboys, wanted the chaos to assert greater control over you with their CBDC. You are the useless eater and the ultimate target.
It is all like a game of Monopoly. We are at the end of the game, and all the pieces (including your pension and house and savings) will get pulled back into the bank.
The bank then restarts the game. Except this time, CBDC will be the money. It will be very hard to refuse. People will be desperate, frightened and hungry. People will literally need the CBDC to eat. CBDC will come to the rescue! You can download an app on your phone so that you can download some CBDC currency to buy milk. Except it will not be real money. You will be borrowing money from the largest banks that issue the CBDC. They have you.
Why is this all so bad? You will no longer own your stocks, bonds, or retain control over your house mortgage. JP Morgan Chase, Citibank, Bank of America and Goldman Sachs will gain control of all assets in order to cover their derivatives losses. Everyone from state governors to your neighbor will lose everything. Politically, that reality can be a unifying force to oppose this before it happens. (My best estimate of this happening is April-June 2024 based upon market behavior and political events.)
We do not have to be idiots and go along with it. There are more of us than there are of them. No one agreed to let their assets be hijacked. And just as we should not confuse the virtual world with the real world, we should not confuse artificial legal constructs designed to steal with what we know in our hearts to be ethical.
Our biggest advantage is that everyone from Tom Hanks to Nancy Pelosi is going to get screwed. Even supporters of WEF goals, like Al Gore, probably do not understand that they are about to lose everything too. (Politicians do not understand the stealth arcane legal language being use to deploy this financial weapon.) That means we are all in this together: every Democrat and every Republican. We can all unite against raw evil. We don't need an alien invasion to declare ourselves free from those banksters, who seek to reap where they have not sown.
Gov. Kristi Noem of the state of South Dakota is leading the way.
She is promoting legislation that would change South Dakota's Uniform Commercial Code to remove the legal mumbo-jumbo hidden in there making "legal" the loss of an individual's ownership of their own securities (stock and bond) assets. This will prevent – in that state – The Great Taking via the Great Financial Crisis caused by the WEF-desired cyberattacks. Other states should follow suit, while we still can. We only likely have four to 12 weeks. Please contact your state attorney general, secretary of state, or any other politician you may know. This is South Dakota's House Bill 1199.
If we do nothing, then the WEF motto, that "you will own nothing" by 2030 will come true.
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Sarah Smith is a mother, wife, and former public policy analyst. She is currently retired in Ohio, but spent her work years in and around The North Carolina Legislature.
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