Summary of Carol Roth: You Will Own Nothing | Tom Nelson Pod #112

00:00:00 - 00:55:00

In this video, author Carol Roth discusses the World Economic Forum's prediction that "you will own nothing and you'll be happy." Roth asserts that ownership of assets is the foundation of wealth and that the goal of non-ownership champions is to make it a subscription or service that people are trained to accept. She also discusses the lack of understanding regarding ESG and social credit and their potential impact on human flourishing. Additionally, she warns about the risks associated with central bank digital currencies (CBDCs) and the importance of preparing for emergencies by considering alternative forms of currency. Finally, Roth emphasizes the importance of protecting the food and water supply as they are essential aspects of ownership and life.

• 00:00:00 In this section, Carol Roth discusses how the concept of owning nothing has been predicted by the World Economic Forum's top eight predictions for 2030, which is that "you will own nothing and you'll be happy." This notion of non-ownership has been repackaged in different ways, and the ultimate goal seems to be to champion non-ownership to a point where people are trained to accept it as a subscription or service, from smaller things like blenders to even bigger pieces like homes. The concept of non-ownership goes against the foundation of wealth, which is ownership of assets, especially assets that can appreciate in value over time. The World Economic Forum's goal is to make non-ownership a reality and hide the fact that it goes against history, where people who did not have ownership weren't free or happy.
• 00:05:00 In this section, Carol Roth discusses the possibility of a new financial world order and the implications it may have. She notes that there are smart and well-connected individuals who see the US's position as the center of the global financial universe as getting long in the tooth, and they want to help shift the dynamics to ensure they come out on top. She points out that the wealthiest and most well-connected individuals are not necessarily part of this political inner group, and that some elites from academia, like Janet Yellen, are trying to elevate themselves to be part of this order. Carol Roth also admits that despite being an investment banker, she did not consider herself part of the Wall Street elites and has not been invited to any interesting cabals or events.
• 00:10:00 In this section, Carol Roth discusses the lack of understanding regarding ESG and its origins within the corporate world. Even some executives and experts who deal with ESG on a regular basis have no idea where it came from or what it truly means. Many are simply going along with it because it's the latest trend, and larger organizations are pushing it upon them. This has become a form of corporate fascism that is affecting businesses and retirement funds. Carol also provides a case study of Sri Lanka and how ESG ideals had a negative impact on the country's farming industry.
• 00:15:00 In this section, Carol Roth discusses the consequences of imposing ESG goals without considering their impact on human flourishing. She cites an example from Nicaragua where the pursuit of ESG goals disrupted the country's food supply and led to social unrest. She also talks about the problems in the Netherlands where the government, tied to the World Economic Forum (WEF), is trying to reimagine and reshape the food supply, causing farmers to push back against it. Carol argues that the WEF is a small group of unelected people making decisions for the world and pursuing these goals in the name of control.
• 00:20:00 In this section, Carol Roth discusses the idea of a master plan behind the "you'll own nothing" concept. She believes it's not a few individuals sitting around a table, but rather people with "God complexes" who are trying to grab more power and resources, finding alliances to do so. She mentions Klaus Schwab of the World Economic Forum as being at the center of this concept, pushing stakeholder capitalism since 1971 with a notable persistence. Additionally, Roth emphasizes the importance of watching what people do, rather than listening to what they say. She doesn't believe the climate crisis is an emergency since many individuals and organizations with power and money continue to act against the stated goal of fighting climate change and don't make concrete actions toward solving the problem.
• 00:25:00 In this section, the conversation turns to the topic of the vintage Twilight Zone episode "To Serve Man" which uses a cookbook to show that people are self-interested and not doing things for the good of humanity. The discussion then shifts to China's role in the green push and DEI. It is suggested that China is reveling in manipulating the world to their advantage, as they are major polluters and stand to benefit from the green push due to their rare earth mineral manufacturing. China also has an advanced social credit system that rewards good behavior and takes away points for undesirable actions, showing that they are creating models of bad practices that are starting to be adopted by other countries.
• 00:30:00 In this section, the speaker discusses the concept of social credit and its ties to the "you will own nothing" thesis. She explains that while social credit is currently more prevalent in China, it is starting to seep into North America, citing instances of censorship on social media and frozen bank accounts of individuals who express certain views. The speaker argues that the climate crisis scam is a way for central planners to have complete control over our lives, including the ability to shut off credit cards if individuals purchase too many "hamburgers or flights." She also distinguishes between cryptocurrency and the central bank digital currency (CBDC), which she explains is a government-centralized digital currency that individuals fear could lead to more manipulation of wealth and purchasing power.
• 00:35:00 In this section, Carol Roth discusses the difference between cryptocurrency and a central bank digital currency (CBDC). While cryptocurrency is decentralized, CBDCs are centralized and completely controlled by the Federal Reserve and the government. She warns that people who do not understand cryptocurrencies may be easily fooled into thinking CBDCs are a government-friendly way to trade. However, CBDCs have the potential to allow for a high level of governmental control over transactions, making it possible for them to intervene on a transaction-by-transaction basis. She highlights the need for people to prepare for a potential emergency by considering alternative forms of currency, particularly ones that cannot be controlled by the government. Carol expresses concern that while there are entities pushing back against ESG and CBDCs, these concepts are like "whack-a-moles" and will continue to pop up under different names. She stresses the importance of killing these concepts at the source by creating a structure where such ideas cannot invade the financial system.
• 00:40:00 In this section, author Carol Roth talks about the motivation behind her book, "The War on Small Business," and emphasizes the importance of looking at well-sourced facts and letting the information speak for itself. She backs up her claims using examples such as Joe Biden's statements about a new financial world order, BlackRock's ESG initiatives, and companies like Invitation Homes, which compete with average homeowners to buy homes and profit from their misfortune. While she admits that the end of American dominance in the global financial universe may be inevitable, she warns that there is currently no better option waiting in the wings. However, she believes that increased awareness and people standing together against the various forces threatening individual rights and capitalism could help delay this transition.
• 00:45:00 In this section, author Carol Roth discusses the idea of a Global Financial War, or "World War F." She explains that this war is focused on dominating resources within a country, specifically in the case of the US, where the government is attempting to dominate citizens' resources. Roth believes that people need to be aware of this distinction and actively try to mitigate the risks that this war brings. She also talks about her previous book, "The War on Small Business," which details the struggles of decentralization versus centralization during the pandemic and how small businesses were unfairly affected by government shutdowns. Ultimately, Roth seeks to provide optimism and a plan for people to fight back against the central planners and mitigate the risks associated with "World War F."
• 00:50:00 In this section, Carol Roth discusses the centralization of power and the likelihood of people going along with it, particularly with the transfer of land and water rights to powerful entities such as Harvard University. She talks about how Harvard has become a hedge fund with a university attached to it and how it has invested in Vineyards in California, not for food production but for water rights, putting the water at risk of being financialized. She emphasizes the importance of protecting the food and water supply as they are essential aspects of ownership and life.
• 00:55:00 In this section, Carol Roth discusses the different voices she has included in her book, all of which have provided insights into the issues that she raises in her work. Roth talks about her process of researching and sourcing information from over 600 entities, many from mainstream media, which has helped her to provide a well-rounded and evidenced-based argument in her book. She also highlights that the book is an empowering tool that will give people a plan to fight back against the forces that are pushing towards a world where individuals would “own nothing”. Finally, Roth emphasizes that it is important to emulate the elite and to do what they are doing to put themselves in a position to come out on top of the changes that are happening in the world today.