The Silent Financial Coup That Reshaped America
By Peter J. Merrick, TEP® and Adrian C. Spitters, CFP®, co-authors of the international bestseller It Starts With Gold™ and the forthcoming book Guns, Gold & Land™
This analysis continues a series of long-form investigations published in The Merrick Spitters Reset Report™
Overleveraged Brands Like Hooters Are Collapsing. Your 401(k) Is a
The Silent Coup: A Financial Reset Few Will Survive
This article is an opinion-based commentary intended to inform and invite dialogue about the intersection of finance, surveillance, and governance. It reflects the authors’ personal views based on decades of experience in financial services, wealth planning, and public policy research.
The Coup No One Noticed
Most individuals do not recognize a coup when it happens in silence.
There were no tanks rolling down Constitution Avenue in Washington, D.C. No state of emergency was declared over the airwaves. No general stepping to a podium with trembling hands. There were only numbers, and the steady click of keys logging figures that vanished into a void.
Stay informed. Stay protected. Subscribe to It Starts With Gold™ on Substack to get the latest article straight to your inbox. 👉 SUBSCRIBE HERE
Between 1998 and 2015, over $21 trillion in financial transactions went missing through the U.S. Department of Defence and the Department of Housing and Urban Development. This figure is not speculation. It comes from government documents analyzed by Dr. Mark Skidmore, an economics professor at Michigan State University, working alongside Catherine Austin Fitts, former Assistant Secretary of HUD and founder of The Solari Report.
Most blinked and missed it. Some dismissed it as sloppy bookkeeping. We recognized it for what it was: the opening act of a long-planned financial coup.
From Vanishing Trillions to Digital Control
In our book It Starts With Gold™, we laid out how this vanishing act signalled the quiet dismantling of lawful constitutional governance. What began with missing trillions now expands into something far more enduring. A digital infrastructure built to control behaviour, not just money. In our follow-up work, The Last Asset Standing, planned for release in January 2026, we expose how the void left behind has been filled with a sprawling architecture of surveillance, synthetic finance, and digital behavioural enforcement.
Stablecoins: The Trojan Horse
This reset did not arrive as a single catastrophic moment. It arrived as a slow-motion convergence. And now, they have given it a name that sounds harmless.
They call it a Stablecoin.
At first glance, it seems like innovation. Just another crypto project in a world flooded with tokenized hype. They tell you it’s about efficiency, modernization, and financial inclusion. They insist it is not a central bank digital currency (CBDC). In truth, it is worse. A CBDC is a digital version of national currency issued directly by a central bank, programmed for traceability and control. A stablecoin, in contrast, is issued by private institutions, often backed by U.S. Treasury securities, while pretending to be independent and decentralized.
The GENIUS Act: The Real Backdoor
Many have confused the legislation enabling this financial regime. H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21), passed the House on May 22, 2024, but stalled in the Senate. It was never signed into law.
The real legislative vehicle was the GENIUS Act, Guiding and Establishing National Innovation for U.S. Stablecoins. Officially designated as Senate Bill S. 394 (also known as S. 1582), the GENIUS Act passed the Senate on June 17, 2025, by a vote of 68 to 30. It passed the House on July 17, 2025, with a vote of 308 to 122. It was signed into law by President Donald Trump on July 18, 2025.
This act is not a safeguard against CBDCs. It is their backdoor. Under the guise of innovation, this bill opens the door to private networks of banks and surveillance firms who will run this parallel monetary system outside democratic oversight.
Beneath the Surface: Surveillance as Infrastructure
This is not guesswork. It is code. It is a contract. It is conditioning.
The public sees sleek apps and fast checkout. But behind that polished glass is an infrastructure engineered for behavioural compliance. This system will not be managed by the Federal Reserve alone. It will be operated through New York Fed-connected institutions and enforced through surveillance technology provided by firms like Palantir Technologies, which has longstanding ties to U.S. intelligence agencies.
We are not speculating. We are documenting.
The Going Direct Reset Was the Blueprint
In The Last Asset Standing, we show how the “Going Direct Reset,” a plan crafted by the BlackRock Investment Institute and presented to central bankers at Jackson Hole in 2019, was not theoretical. It was a blueprint. It was activated during the COVID lockdowns. Trillions were funnelled upward into financial markets while small businesses and families were strategically crushed. This was not a rescue. It was a realignment.
The Rise of the Financial Industrial Complex
What has emerged is not a new economy. It is a Financial Industrial Complex. A seamless fusion of central banks, global tech firms, asset managers, pharmaceutical giants, and intelligence networks. It is not conspiracy. It is consolidation.
And it is rapidly mutating into a behavioural control system.
Stablecoins as Weapons of Economic War
Stablecoins are simply a tool. A delivery mechanism. Wrapped in terms like “innovation” and “access,” they are being pushed into developing countries such as Brazil, India, and Indonesia through dominant mobile payment platforms. Once deployed, they flood these markets with synthetic dollars and collapse local currencies. This is not market competition. It is economic warfare.
And Americans? They will embrace it. They already have. From cash to debit to tap-to-pay. Each step felt like convenience. Until resistance was no longer possible.
Programmable Money, Programmable People
This system is not just about money. It is about you. It is about your decisions, your associations, your compliance. Programmable tokens mean programmable individuals. A digital dollar that expires, that shuts off by location, that blocks you from spending on restricted items, is not money. It is a leash.
And the cage it supports is already being assembled.
The Infrastructure of Enforcement
Do not take our word for it. Look at Palantir’s partnerships with public health agencies, social scoring systems, and law enforcement databases. Look at how the FedNow Service, launched in July 2023, enables instant programmable transactions. Look at the private financial forums where these systems are discussed as inevitable. The World Economic Forum calls it the Fourth Industrial Revolution. Klaus Schwab calls it “the fusion of our physical, digital, and biological identities.”
This is not fiction. It is unfolding now.
The Great Poisoning and Population Control
And it is not just about financial control. It is about population management.
American life expectancy is falling. Chronic disease is rising. Childhood health is collapsing. At the same time, experimental mRNA treatments are being rushed into approval for diseases they do not prevent, in age groups not at risk. This is not care. It is cover.
We call it the Great Poisoning.
Because when trillions are stolen, when trust funds are empty, when pension liabilities exceed GDP, there is only one remaining solution: reduce the number of beneficiaries.
Distraction, Division, and the Cost of Silence
Think that sounds extreme? Look at the actuaries. Look at the incentives. Social Security, Medicare, and military pensions are mathematically insolvent. Public healthcare costs are spiralling. The data is not hidden. It is simply not spoken about.
So they distract you with identity politics. With celebrity trials. With fake debates about privacy. While behind the curtain, your children are being coded. Your choices are being restricted. And your future is being collateralized.
From Whistleblowers to Truth-Tellers
We do not say this as men on the outside. Between us, we have spent over seventy years working across every level of the Financial Industrial Complex. Banking, insurance, tax, asset protection, estate planning, and corporate finance. We saw what was coming. We walked away from systems we once served. And now we are speaking plainly, before it is too late.
It Starts With Gold™ was our first warning shot. It struck a nerve. It reached individuals who could feel something was wrong but could not explain why.
The Last Asset Standing is the answer.
A Way Out Still Exists
This is not about theory. It is about survival. There is still a path forward. One rooted in local sovereignty, tangible assets, decentralized community, and most importantly, truth.
You do not need to submit. You can opt out. You can prepare. You can become the last asset standing.
The Time to Prepare Is Now
The time to prepare is before the collapse, not after.
This is bigger than finance. It is a redefinition of property, privacy, and freedom. And once the new systems are fully entrenched, reversing them will be nearly impossible.
Draw your line now. Soon, you may not get the chance.
At our firm, we assist clients in structuring wealth by Owning Assets in Order of Asset Security. We prioritize the most secure assets and safeguard those that are most vulnerable.
Book your complimentary review to learn how to structure for the shifts ahead.
We expand on these urgent themes in our number-one international bestselling book, It Starts With Gold™, co-authored by Peter J. Merrick, TEP® and Adrian C. Spitters, CFP®.
In the book, we reveal how to navigate asset confiscation risks, resist surveillance finance, and rebuild wealth outside the programmable system. Visit www.ItStartsWithGold.com.
To find out more, order your own copy of It Starts With Gold™ from Amazon today. CLICK HERE
References
- Summary of Findings on Missing Money from DOD and HUD – Skidmore & Fitts, The Solari Report
- Working Paper: DOD and HUD Missing Money Analysis – Michigan State University (PDF)
- S.394 – GENIUS Act: Guiding and Establishing National Innovation for U.S. Stablecoins – Congress.gov
- H.R.4763 – FIT21: Financial Innovation and Technology for the 21st Century Act – Congress.gov
- FedNow Service Overview – Federal Reserve Bank Services
- FedNow Launch Press Release (July 2023) – Federal Reserve Board
- Palantir Technologies – Official Website
- Palantir Technologies Government Contracts – GovTribe
- Inside Palantir’s work with the CDC, HHS to synthesize COVID-19 data
- Dealing with the Next Downturn: BlackRock’s 2019 “Going Direct” Reset – BlackRock Investment Institute (PDF)
- Fed’s BlackRock Deal Draws Scrutiny Over 2008 Role – Bloomberg
- Fourth Industrial Revolution Hub – World Economic Forum
- The Fourth Industrial Revolution (Book by Klaus Schwab) – Amazon
- Why Our Future May Depend on the Fusion of Biological and Digital Selves – World Economic Forum
- U.S. Life Expectancy Drops Again in 2022 – CDC Press Release
- CDC Chronic Disease Fact Sheets and Trends
- Emergency Use Authorizations for COVID-19 Vaccines – U.S. FDA
- FDA Press Announcements and mRNA Vaccine Updates
- 2024 Social Security Trustees Report – SSA.gov
- CBO Long-Term Projections for Social Security & Medicare (2023)
- GAO Report: Military Retirement Pay and Liabilities (2023)
ext in Line
On July 3, 2025, United States President Donald Trump signed an executive order directing the United States Department of Labor and the United States Securities and Exchange Commission to permit access to alternative assets in retirement plans. This includes venture capital, private equity, hedge funds, real estate, and cryptocurrencies. This move was applauded by financial giants who now see 401(k)s and Individual Retirement Accounts (IRAs) as an untapped bailout fund.
We see something else entirely. In our view, this executive order is a warning. The system is collapsing from within, and retirement savings could be the next exit mechanism.
How Venture Capital Built a Time Bomb
Venture capital and private equity firms spent years acquiring companies through leveraged buyouts, borrowing heavily during the era of near-zero interest rates. They placed aggressive bets on unprofitable startups, fueled by speculative valuations and cheap floating-rate debt.
Stay informed. Stay protected. Subscribe to It Starts With Gold™ on Substack to get the latest article straight to your inbox. 👉 SUBSCRIBE HERE
This model functioned while borrowing was cheap. As interest rates climbed past 5 percent in 2023 and 2024, refinancing became a death sentence. The valuations, built on revenue multiples and “growth-at-any-cost” narratives, began to fall apart. The result was widespread distress, liquidity shortfalls, and a surge in bankruptcies.
Here are a few examples from 2024 to early 2025:
- Hooters of America, LLC: Filed for Chapter 11 bankruptcy on March 31, 2025, under approximately $376 million in debt, including securitized liabilities.
- Joann: The craft retail chain filed for Chapter 11 for the second time, unable to survive debt burdens from leveraged buyouts.
- Instant Brands: Known for its Instant Pot and Pyrex, it became the subject of scrutiny for dividend extraction and financial engineering.
- Red Lobster, TGI Fridays, Claire’s, Toys “R” Us, and Sears: All collapsed under the weight of private equity debt.
The Numbers Tell the Story
According to the Financial Times, over 110 private equity and venture capital-backed firms filed for bankruptcy in 2024. PitchBook’s Q2 2025 Global Private Capital Report notes that $3.6 trillion in unrealized value is now locked in illiquid holdings across nearly 29,000 companies.
The State of Private Markets Q1 2025 by Carta shows 19 percent of all venture funding rounds were down-rounds. These valuation declines expose the fiction that has propped up many tech firms and consumer brands over the last decade.
According to Business Insider, venture fundraising has dropped to six-year lows as limited partners delay or default on capital calls. The music has stopped. The chairs are disappearing.
The Real Target May Be Your Retirement
The United States retirement market holds over $23 trillion. With public markets hesitant and private investors tightening their wallets, venture capital firms appear to view your 401(k) and IRA as the last untapped pool of liquidity.
In our view, this is not about improving access. It is about managing and offloading risk.
Newly packaged “alternative investment funds” will likely offer slices of these distressed assets. These funds may be labeled as diversified and innovative. In practice, some may function as mechanisms to shift underperforming assets into passive vehicles where transparency is limited and accountability is nearly nonexistent.
These are not stocks you can sell. These are not bonds you can easily track. These are illiquid, mark-to-model holdings that may be difficult to exit without significant loss.
What the Western Allies Must Understand
This executive order sets a precedent. Historically, regulatory shifts in the United States echo across the United Kingdom, European Union, Australia, and other Western allies. Pension systems abroad, already under pressure from demographic shifts and underfunded obligations, may adopt similar practices.
This is not merely an American story. It reflects a broader crisis across the Western world. One defined by overleverage, distorted valuations, and financial engineering.
A Wake-Up Call on Valuation Lies
Many of the companies now facing collapse were never worth what the balance sheets claimed. Their valuations were inflated through internal rounds, superficial metrics like total addressable market, and unsustainable growth spending.
Now that the cost of capital has returned to historical norms and exit opportunities have dried up, the truth is being revealed. In many cases, the only play left is to push these liabilities downstream onto unsuspecting workers.
Why Precious Metals Still Matter
We believe in owning real assets. Gold and silver are not projections. They are not promises. They do not rely on exit velocity or debt rollovers.
They are finite. They are tangible. They are sovereign.
When financial assets are engineered into illusions and retirement savings become the final dumping ground, owning precious metals is not just strategic. It becomes necessary.
At our firm, we assist clients in structuring wealth by Owning Assets in Order of Asset Security. We prioritize the most secure assets and safeguard those that are most vulnerable.
Book your complimentary review to learn how to structure for the shifts ahead.
Final Thoughts
This executive order does not appear to be a pivot toward opportunity. It may be an engineered escape hatch for venture capital. If left unchecked, it could transform retirement plans into bailouts for collapsed business models.
There is a way forward. It begins with awareness. It ends with sovereignty.
In our book It Starts With Gold™, we reveal how public policy, global debt cycles, and digital assets are converging in ways that threaten your financial future. We also explore the tools that can help you protect what matters.
To learn more, visit www.ItStartsWithGold.com.
To find out more, order your own copy of It Starts With Gold™ from Amazon today. CLICK HERE
References
- Reuters – Hooters of America files for Chapter 11 bankruptcy
- Restaurant Dive – Hooters files for bankruptcy as locations close
- Financial Times – More than 110 private equity-backed companies filed for bankruptcy in 2024 (Note: Content behind paywall. Data cited from summary figures.)
- PitchBook – Q2 2025 Global Private Capital Report
- Carta – Q1 2025 State of Private Markets
- Business Insider – Venture capital fundraising hits six-year low as LPs pull back
- Wikipedia – List of private equity firm bankruptcies (for historical background)
- Reddit – Discussion on private equity collapses (user-sourced thread) (discussion only, not a primary source)
