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iilluminaughtii

Galt's Gultch: An Imperfect Utopia | Prism of the Past

iilluminaughtii

Blair Zoń

Education, Business, Society & Culture, Documentary

4.4961 Ratings

🗓️ 14 December 2021

⏱️ 27 minutes

🧾️ Download transcript

Summary

Go to http://felixgrayglasses.com/PRISM to check out Felix Gray glasses now! Go to http://www.stamps.com and use promo code PRISM for a 4-week trial, free postage, and a digital scale. No long-term commitments or contracts. Welcome to Prism of the Past, a weekly series about historical events, people, and situations, from the fascinating to the forgotten. Connect With Me: https://linktr.ee/iilluminaughtii This episode was edited and mixed by: G. Thomas Craig Album cover art created by: Betsy Primes Intro Song Credits: Round a Round- Martino Tempersta Outro Song Credits: Relax Yourself- Sleeping Ghost Ad Music Credits: Tango de Manzana by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4460-tango-de-manzana License: https://filmmusic.io/standard-license Backbay Lounge by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/3408-backbay-lounge License: https://filmmusic.io/standard-license Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The founders of Galtz-Gulch Chile, also known as GGC, wanted to create a

0:08.8

Libertarian Utopia free from regulation. Their ideals are heavy on individual rights or as many have called

0:16.1

it selfishness, but what happens when one founder takes selfishness too far, neglecting

0:21.5

and harming all others.

0:23.7

The lead developer of this project, Kenneth Dale Johnson, has been accused of running a Ponzi scheme

0:28.6

by his fellow founders.

0:30.6

After cutting his partners and investors out of the deal, Johnson illegally sold Chilean land to investors.

0:36.0

It brought in over $10 million while Johnson himself invested nothing.

0:41.0

This resulted in lawsuits, Johnson hiring thugs to strong-arm investors, and you can't make this part up.

0:47.0

Johnson hiding in the bushes when things were looking bad for him. Years later, this case isn't fully resolved, but one of the

0:54.5

founders, Coban, has proven how dangerous he can be after opening fire and driving

0:58.7

into a crowd of Chilean protesters.

1:02.0

Hello everyone and welcome to a new prism of the past.

1:06.0

Before we get into today's episode, I want to start by making a massive disclaimer here.

1:10.0

Much of the gritty detail of this case comes from those who were directly involved as opposed to news sources.

1:16.0

GGC Recovery, a website set up by those that were scammed,

1:20.0

a blog by Libertarian author who has followed the case closely translated court documents.

1:25.4

All of these things were used to piece together this complicated tangled web.

1:29.8

This situation is so murky that I want to make it clear that many of the accusations in this episode are alleged.

1:36.0

With that being said, let's take a look at what Galts Gulch was and why it failed so spectacularly.

1:42.0

Unlike you, I don't believe in abandoning the fight.

1:45.0

When's the first time you saw me?

...

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