Total Financial Collapse Incoming? Time to Be Your Own Bank (Part 1)
Well, it is. Perhaps you’ve seen the video going around of the most recent banker meeting of the FDIC where they’re literally laughing and sneering how the insurance itself isn’t going to be there for most average retail depositors. The banker on the left below, was urging others within earshot that it’s not a great idea to broadcast just how fragile this system is to the general public, as to not incite a run on the banks. So, if these guys are laughing at the fragility of their own legacy banking system, why do you trust it?
FDIC discussing the fragility of their own insurance and they think it’s funny
Here’s a link to the video I’m referring to if you haven’t seen it yet:
As I write this, gold is currently sitting at over $2,000 an ounce and I imagine that will get higher as the months progress. Silver sits at $23.40, and platinum which I think is a real bargain as it is more rare than even gold, sits at $985 per ounce. More than 50% off the price of gold for something more rare and that has industrial use, albeit less so these days. If we see this stuff make it’s way back into catalytic converters, I think that price will go parabolic. Either way, just a quick rundown.
Ever since the Silcone Valley Bank, leaving it’s mark on the year being the second largest banking collapse in US history, people are starting to wonder just how safe our international banking system really is. Well, I have bad news. The banking system is only as good as the people’s faith in that very institution. Even I was unaware until some time last year that we don’t even have fractional reserve banking anymore, it’s now absolutely ZERO reserve! That’s right. During the Covid pandemic, banks took it upon themselves to move completely away from fractional reserve banking and move into a system that has completely removed minimum requirements they have to have on their balance sheets to operate.
If you’d like more specifics on the above you can read about it by clicking here.
The other thing I’m not seeing mentioned often is the Commercial Mortgage Backed Security or CMBS market. This is the same market that Ben Bernanke exclaimed in 2006 was safe and all measures were being taken to safeguard, that collapsed not long after. The FED is NOTORIOUS for lying to the American public to keep the system from turning into a four alarm blaze. I honestly don’t know why anyone even listens to them about future forecasts anymore, but if the masses are one thing, they’re ignorant.
That was a $700 billion dollar crisis. We’ll be past that level at the end of this month, March 2023. We’re already seeing bank collapses, but we haven’t seen the CMBS market implode yet. How many empty office buildings are you seeing in your own city? Do you think these corporations that have mortgages on them are going to care when the financial armageddon hits later this year? No, they’re going to default and that will be another loss for the commercial banking side. I think this is where a lot of the real estate turmoil will stem from this time around. Unfortunately regular folks will lose their homes as well as a result of the economy being on life support, but commercial is going to be a serious precursor to this in my opinion.
And lets not forget what happened to FTX, the crypto exchange earlier this year. The amount of politicians that were given “donations” from that little money laundering operation is heavy on both sides. That was a perfect example of someone taking money or digital assets from their depositors and giving it to the government, probably as bribes. We still don’t know what’s going to happen to ol’ Sam regarding that whole debacle, but I’m betting with all those “donations” he gave to those in Congress, he’s probably going to get off pretty easy. Meanwhile, the people that kept their money and other digital assets on that exchange lost everything. I’m calling that degenerate thief “Bernie Madoff 2.0.” This was a financial hitman job and everyone that invested there was affected by it, as is usually the case.
There’s little to no transparency with banks in general. When you make a deposit, that’s not your money. You’re lending it to them to do with as they please. (But if you need to borrow money, you have to pay their fees for the privilege of doing so) Sometimes we can see what those investments may be sitting in, but dark pools exist for a reason so as to be invisible in the market when large trades by financial firms are being made under the public’s nose. Don’t believe me? See if your current broker offers dark pool prints as a service and view them when they’re published. They won’t tell you if the order is a buy or a sell, but it’ll tell you how many shares of a particular company were just involved on either side of that transaction, and you can watch the price action of the stock shortly thereafter. If it goes up, they bought. Down, they sold.
Insider trading is illegal, but these huge financial institutions know things the rest of us don’t and they get rich by acting on that information. They pay millions of dollars each year to the government for financial law violations, but hey, that’s just the cost of doing business. Right?
In the next blog entry we’ll discuss what you should be doing right now to somewhat soften the financial blows that are coming your way. Millions of people will be wiped out again, you don’t have to be one of them.