We have been in the grip of the banking cartel for hundreds of years, a grip that has grown much stronger since 1913. We know that – we see it – we live it. But every once in a while you receive a fresh reminder of that reality and can be discouraging, dispiriting. Our recent experience at the Tennessee legislature was one of those times.
What a difference a year makes. Last year we were able to connect with legislators informing them of The Great Taking and the threat to private property rights. Lawmakers were engaged and supportive. But this year, just last week, there was a chill in the air in Nashville. Something had changed. The bill to amend Article 8 of the Uniform Commercial Code (UCC) to prioritize the property rights of investors over the ‘rights’ of the big banks was dead on arrival. Check that, dead before arrival.
The powerful bank lobby is fully engaged this year. Maybe we caught them off guard in the 2024 legislative session, but this year they have salted the earth. Lawmakers have gotten the message loud and clear. I don’t know what smoke the lobbyists are blowing up the backside of these politicians – but it has the effect of a scheduled narcotic.
At the hearing in Tennessee, the Chairman of the Committee stepped out during my testimony and later admitted he was uninformed on the risks to investors posed by UCC Article 8. But he was apparently informed enough to side with the big banks and kill the bill.
Despite our evidence from primary source documents – including Tennessee statutes - showing the very real risks to investors. And despite the obvious lies from opponents to the bill – the lobbyist for the banks didn’t even bother to change her testimony and stuck with the ‘margin account’ argument that we had debunked. The bill was doomed.
It was clear that it did not matter what information was provided at the hearing, the opponents could have spoken gibberish – which is essentially what they did – and it didn’t matter. It was a done deal. The fix was in. Banks win, people lose. Lather, rinse, repeat.
The fight to protect property rights is fundamental to our freedom and liberty. But we need to realize that addressing The Great Taking at the state level is not a reality today. The bank lobby and the Uniform Law Commission – the evil twin towers of Mordor are formidable. We will not be successful without increased public awareness that leads to a broad commitment to action.
Our situation reminds me of the fight over ESG at the state level four years ago. Bette worked with legislators in several states to protect people from discrimination by banks, insurance companies, and other entities but nobody knew what ESG was, and most had not heard anything about it. It took a couple of years to build awareness of the threats that ESG policies posed to our freedoms and liberty before we had success at the state level.
We may not have a couple of years before the next big financial crisis hits, have you watched what is happening on Wall Street the last few days? But we can use whatever time we have to raise awareness of The Great Taking and other threats posed by the banking cartel, Wall Street, and the World Economic Forum. Broad public awareness – and importantly individual action – is needed to break the grip the bank lobby has on lawmakers.
Awareness of these threats does not offer much protection in the short run because most of us are trapped within the financial system. But the more people we engage on these issues the better our chances to restore full property rights. Persistence is the key, talk to your family, friends, and co-workers. Share this Substack and the resources we have linked in earlier posts. There are a lot of issues competing for our attention today – but this is a big one. Spread the word.
Taking on the banking cartel and the debt-based enslavement we face today is a daunting task. When we get discouraged, it is tempting to reach for the ‘Blue Pill’ to enjoy a juicy (imaginary) steak with Cypher in blissful ignorance. But we are called to do more if for no other reason so that our children and grandchildren can be free.
Choose the ‘Red Pill".
Forgive me for mixing my pop culture references here from the Eagles to The Matrix but I hope my point comes across that even today, even at this late hour, we can take a stand. Yes, the banking cartel is “programmed to receive” but once we realize we have agency - that "we are all just prisoners here of our own device" we are empowered to be free.
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