The Great Taking with David Rogers Webb – Part 1

November 15, 2023

Prepare to be shocked; you don’t actually own your stocks and bonds, but instead have a “security entitlement” which is as squishy as it sounds. But who does have the senior-most claim to your financial assets and how did this come about? Tune in to find out.

How safe are your brokerage portfolio holdings? Would it surprise you to learn that you do not actually fully own your stocks and bonds but rather have what is now called a “security entitlement?” What the heck is that? It sounds legally weaselly…because it is.

Quite worryingly, thanks to relatively recent changes in the laws, not only are you not the senior or secured creditor in a long chain of claimants, but you also can’t even find out who is ahead of you. When it comes to owning something, there really shouldn’t be this much complexity or mystery. Yet there is, and by design.

Today’s guest is David Rogers Webb who wrote the explosive book called The Great Taking, and has made it freely available to all as a service to mankind.