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EndGame Macro
RT @onechancefreedm: The EndGame Legacy Series, No. 1 Hetty Green “The Witch of Wall Street” and the Power of Discipline
Where She Came From
Hetty Green wasn’t born into an ordinary family fortune, she came from a New Bedford whaling empire. Her father and grandfather made their money in one of the most profitable industries of the 19th century: whale oil, shipping, and global trade. The Robinsons weren’t flashy; they were hard edged New England merchants who believed money was something you guarded, not flaunted. Hetty grew up in that world. When her grandfather’s eyesight began failing, teenage Hetty read the financial pages to him every day. That routine…reading markets aloud, absorbing how capital flowed became her education. By the time she was a young woman, she understood balance sheets better than most bankers.
Her wealth didn’t fall into her lap. When her father died, and later her wealthy aunt, the inheritance came with legal fights, contested wills, and a wall of men who assumed a woman couldn’t manage millions. Hetty battled them all in court…calmly, relentlessly until she secured full control of the capital. Whatever people thought of her, she had something rare for a woman in the 1800s: total financial independence.
How She Built It Bigger
Once she controlled the money, she didn’t chase trends. While others speculated in flashy railroad stocks, Hetty bought what she considered real value: bonds, mortgages, railroads with actual cash flow, and city debt she knew would be repaid. She kept enormous cash reserves, not because she was fearful, but because she understood cycles. When panics hit and they hit often in that era cash wasn’t just safety. It was leverage.
During the 1873, 1884, 1893, and 1907 crises, Wall Street was full of men begging for liquidity. Hetty was one of the few people who had it. She lent to brokers, corporations, and even the City of New York. Sometimes she charged tough rates, sometimes she lent below market because she liked the collateral but she always dictated the terms. She didn’t need the system; the system needed her.
Her stinginess became legend, the black dress, the boardinghouses, the refusal to waste money. But to her, minimizing lifestyle creep wasn’t a quirk. It was strategy. The lower her burn rate, the more firepower she had in the next downturn.
What She Accomplished
By the time she died in 1916, Hetty Green had built one of the largest private fortunes in American history. Estimates vary, but in today’s dollars she was solidly in multi billionaire territory. And unlike many fortunes of the era, hers was built through discipline, not luck. After her children died, most of the family wealth ultimately flowed to hospitals, schools, and public causes, a quiet, unexpected philanthropic legacy from a woman many assumed was simply frugal to a fault.
What Her Life Still Teaches
Hetty Green is a reminder that wealth isn’t just about finding the right investments, it’s about being the same person in the boom as you are in the bust. She shows that liquidity is underrated, patience is misunderstood, and independence is a superpower in any era. She never needed to impress anyone, and that gave her clarity when everyone else was losing theirs.
Her story is simple but profound:
Know what something is worth.
Buy it when no one else wants it.
Hold it when they call you crazy.
And keep enough cash so you never have to compromise.
That’s not just a Gilded Age strategy. That’s an EndGame strategy.
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RT @onechancefreedm: The EndGame Legacy Series, No. 1 Hetty Green “The Witch of Wall Street” and the Power of Discipline
Where She Came From
Hetty Green wasn’t born into an ordinary family fortune, she came from a New Bedford whaling empire. Her father and grandfather made their money in one of the most profitable industries of the 19th century: whale oil, shipping, and global trade. The Robinsons weren’t flashy; they were hard edged New England merchants who believed money was something you guarded, not flaunted. Hetty grew up in that world. When her grandfather’s eyesight began failing, teenage Hetty read the financial pages to him every day. That routine…reading markets aloud, absorbing how capital flowed became her education. By the time she was a young woman, she understood balance sheets better than most bankers.
Her wealth didn’t fall into her lap. When her father died, and later her wealthy aunt, the inheritance came with legal fights, contested wills, and a wall of men who assumed a woman couldn’t manage millions. Hetty battled them all in court…calmly, relentlessly until she secured full control of the capital. Whatever people thought of her, she had something rare for a woman in the 1800s: total financial independence.
How She Built It Bigger
Once she controlled the money, she didn’t chase trends. While others speculated in flashy railroad stocks, Hetty bought what she considered real value: bonds, mortgages, railroads with actual cash flow, and city debt she knew would be repaid. She kept enormous cash reserves, not because she was fearful, but because she understood cycles. When panics hit and they hit often in that era cash wasn’t just safety. It was leverage.
During the 1873, 1884, 1893, and 1907 crises, Wall Street was full of men begging for liquidity. Hetty was one of the few people who had it. She lent to brokers, corporations, and even the City of New York. Sometimes she charged tough rates, sometimes she lent below market because she liked the collateral but she always dictated the terms. She didn’t need the system; the system needed her.
Her stinginess became legend, the black dress, the boardinghouses, the refusal to waste money. But to her, minimizing lifestyle creep wasn’t a quirk. It was strategy. The lower her burn rate, the more firepower she had in the next downturn.
What She Accomplished
By the time she died in 1916, Hetty Green had built one of the largest private fortunes in American history. Estimates vary, but in today’s dollars she was solidly in multi billionaire territory. And unlike many fortunes of the era, hers was built through discipline, not luck. After her children died, most of the family wealth ultimately flowed to hospitals, schools, and public causes, a quiet, unexpected philanthropic legacy from a woman many assumed was simply frugal to a fault.
What Her Life Still Teaches
Hetty Green is a reminder that wealth isn’t just about finding the right investments, it’s about being the same person in the boom as you are in the bust. She shows that liquidity is underrated, patience is misunderstood, and independence is a superpower in any era. She never needed to impress anyone, and that gave her clarity when everyone else was losing theirs.
Her story is simple but profound:
Know what something is worth.
Buy it when no one else wants it.
Hold it when they call you crazy.
And keep enough cash so you never have to compromise.
That’s not just a Gilded Age strategy. That’s an EndGame strategy.
tweet
Offshore
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Finding Compounders
Companies get the Shareholders they deserve
A piece from Warren Buffett’s 1979 shareholder letter https://t.co/BwKBcTkL0i
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Companies get the Shareholders they deserve
A piece from Warren Buffett’s 1979 shareholder letter https://t.co/BwKBcTkL0i
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Offshore
Video
EndGame Macro
RT @onechancefreedm: What Glenn and Justin Are Really Pointing Toward
When you peel back the emotion and focus on the mechanics, Glenn and Justin are circling something very real, the same underlying structure David Webb lays out in The Great Taking. And the uncomfortable part is this: Webb isn’t talking about a cinematic asset grab, he’s talking about how the legal and financial plumbing has quietly changed over the past few decades.
What Webb Actually Means by “The Great Taking”
Webb’s core argument is that the modern system rewired ownership. You don’t hold stocks or bonds directly anymore, you hold a security entitlement through several intermediaries: your broker, then a clearing firm, then DTCC. That entitlement is a claim, not outright property. Everything sits in pooled accounts under Cede & Co., and your “ownership” depends on your intermediary staying solvent.
Over time, legal changes like UCC Article 8, global custody standards, derivatives safe harbor expansions created a world where, in a true systemic crisis, secured creditors and clearinghouses get first claim on collateral, and everyone else stands behind them. It’s not a plot in the dramatic sense. It’s how the system is engineered to keep markets from collapsing.
How That Connects to Glenn and Justin’s Warning
Glenn and Justin are putting popular language around a deeper structural issue: in a major financial shock, ordinary investors are not at the top of the food chain, no matter what their brokerage app makes it look like. They’re right that people don’t own their securities in the way most assume. They’re right that the system favors institutional survival over individual claims. And they’re right that the public has almost no awareness of how these rules actually work.
Where Webb adds more detail is on how that hierarchy formed. It wasn’t built overnight. It wasn’t created by one administration. It emerged through decades of incremental legal rewrites and always under the logic of protecting market stability. In other words, the priorities are systemic, not personal.
The Part Worth Highlighting
Rather than thinking in terms that they can take your assets, it’s more accurate and more revealing to understand that the architecture is designed so that collateral flows inward during a crisis. That’s the rulebook. It’s not moral or immoral; it’s structural. And in a real crash, legal priority decides everything.
High net worth investors often bypass this system through segregated custody and private banking. Most people don’t. That’s the tension Glenn and Justin are pointing to and Webb simply maps the circuitry behind it.
The Real Takeaway
The message isn’t panic. It’s awareness. The modern financial system does not treat all ownership equally, and the distinction only shows up when the stress hits. Glenn and Justin are sounding the alarm from the front door; Webb is explaining the wiring behind the walls.
Together, they tell a story worth paying attention to especially as the system becomes more leveraged, more interconnected, and more fragile. @glennbeck @JustinTHaskins
@DavidWebb539285 David’s book and a link to his video can be found at https://t.co/0J7CAzTLtN
tweet
RT @onechancefreedm: What Glenn and Justin Are Really Pointing Toward
When you peel back the emotion and focus on the mechanics, Glenn and Justin are circling something very real, the same underlying structure David Webb lays out in The Great Taking. And the uncomfortable part is this: Webb isn’t talking about a cinematic asset grab, he’s talking about how the legal and financial plumbing has quietly changed over the past few decades.
What Webb Actually Means by “The Great Taking”
Webb’s core argument is that the modern system rewired ownership. You don’t hold stocks or bonds directly anymore, you hold a security entitlement through several intermediaries: your broker, then a clearing firm, then DTCC. That entitlement is a claim, not outright property. Everything sits in pooled accounts under Cede & Co., and your “ownership” depends on your intermediary staying solvent.
Over time, legal changes like UCC Article 8, global custody standards, derivatives safe harbor expansions created a world where, in a true systemic crisis, secured creditors and clearinghouses get first claim on collateral, and everyone else stands behind them. It’s not a plot in the dramatic sense. It’s how the system is engineered to keep markets from collapsing.
How That Connects to Glenn and Justin’s Warning
Glenn and Justin are putting popular language around a deeper structural issue: in a major financial shock, ordinary investors are not at the top of the food chain, no matter what their brokerage app makes it look like. They’re right that people don’t own their securities in the way most assume. They’re right that the system favors institutional survival over individual claims. And they’re right that the public has almost no awareness of how these rules actually work.
Where Webb adds more detail is on how that hierarchy formed. It wasn’t built overnight. It wasn’t created by one administration. It emerged through decades of incremental legal rewrites and always under the logic of protecting market stability. In other words, the priorities are systemic, not personal.
The Part Worth Highlighting
Rather than thinking in terms that they can take your assets, it’s more accurate and more revealing to understand that the architecture is designed so that collateral flows inward during a crisis. That’s the rulebook. It’s not moral or immoral; it’s structural. And in a real crash, legal priority decides everything.
High net worth investors often bypass this system through segregated custody and private banking. Most people don’t. That’s the tension Glenn and Justin are pointing to and Webb simply maps the circuitry behind it.
The Real Takeaway
The message isn’t panic. It’s awareness. The modern financial system does not treat all ownership equally, and the distinction only shows up when the stress hits. Glenn and Justin are sounding the alarm from the front door; Webb is explaining the wiring behind the walls.
Together, they tell a story worth paying attention to especially as the system becomes more leveraged, more interconnected, and more fragile. @glennbeck @JustinTHaskins
@DavidWebb539285 David’s book and a link to his video can be found at https://t.co/0J7CAzTLtN
.@JustinTHaskins gives a TERRIFYING warning about the next big economic crash: “Laws have been written over many decades that have positioned large institutions to TAKE PEOPLE’S PROPERTY potentially when the next big crash occurs. YOU DON’T OWN your own security investments." https://t.co/EkNl8NBm8J tweet
Offshore
Photo
Finding Compounders
Another great piece by Michael Burry
- Finding Value in Fast Food(1998)
Here he analyses Tricon Global- now known as Yum Brands
He goes through analysing Spin Offs- what should we look for? https://t.co/9c30lOmV7f
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Another great piece by Michael Burry
- Finding Value in Fast Food(1998)
Here he analyses Tricon Global- now known as Yum Brands
He goes through analysing Spin Offs- what should we look for? https://t.co/9c30lOmV7f
tweet