David Webb argues that the “Great Taking” is a global legal-financial setup in which investors do not truly own securities and central banks/banking institutions can claim pooled assets in a crisis. He urges state-level legal fixes in the U.S., warns the system is already global, and says gold and silver are partial defenses but not a full solution.
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This interview centers on David Webb’s thesis from The Great Taking: modern securities custody and UCC-style legal structures give the appearance of ownership while allowing pooled client assets to be rehypothecated and, in a systemic crisis, captured by higher-priority claimants. Webb says the banking lobby uses intimidation and misinformation, but cannot refute the core structure; he argues the issue is now tactical, not conceptual, because evidence of the arrangement is already in the public record. A major portion of the discussion focuses on state-level legislative action in the U.S. Webb says the most practical path is for one state to amend its law so new contracts can be written with clear priority to client assets, without disrupting existing contracts. …
Tactically, the immediate watch item is whether Webb’s state-level bills gain a real sponsor and committee traction; that is the only concrete catalyst in the tape. For metals, the setup is choppy and fragile, with silver especially vulnerable to sharp reversals after fast moves.
Over the next few months, the key question is whether any jurisdiction actually rewrites the custody/priority framework and whether that attracts capital or imitators. If no legal breakthrough appears, the thesis remains a warning story; if one state moves, the narrative could spread quickly.
Structurally, the interview argues that modern custody law and central-bank dominance create a regime where nominal ownership is weaker than most investors assume. In that worldview, gold remains the enduring monetary reserve, but the deeper long-term issue is legal priority, asset control, and who gets paid first in a crisis.
Investors only have the appearance of owning their securities; the legal structure allows client assets to be pooled and reused as collateral.
This is the core thesis Webb repeats throughout the interview.
Changing state law on new contracts could restore clear priority to client assets without disrupting existing contracts.
Webb repeatedly says the fix is legal and incremental, not system-breaking.
A first-mover state could become an asset-protection haven and attract assets and business.
Webb argues there is a positive competitive effect if one jurisdiction acts first.
What progress has been made in the crusade against UCC and the banking lobby, and have you been threatened more?
Webb says he was threatened earlier, but now the issue is the banking lobby’s tactics and public misunderstanding. He argues the facts are easy to prove and the challenge is tactical organization, not refuting the thesis.
What can people do to get the financial services level to no longer serve the king?
Webb says individuals should confront their service provider with the information, but the real solution is for one state to act and for capable advocates in finance or public office to lead the effort.
Do you think there is something nefarious behind the volatility in gold and silver prices?
Webb says silver is difficult to trade, may be in a short squeeze, and can reverse violently. He does not give a precise conspiracy call but suggests paper selling and structural fragility matter more than day-to-day moves.
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