5.5.24: LT w/ Dr. Elliott: IRS has access to your Bank Account? Another Bank Failure the time for Silver/Gold is now. Pray!
Summary
➡ The article discusses the potential for more bank failures due to the end of stimulus money and the insolvency of the FDIC. It suggests that this could lead to bank runs and financial panic, but also predicts the rise of central bank digital currencies as a solution. The article also mentions the unification of these digital currencies across different countries, which could lead to a global economic system. Lastly, it warns about the risks of digital currencies, such as the ability to shut off access based on IP addresses.
➡ The article discusses the current economic situation, highlighting the rising value of the dollar despite the increase in money printing and the worsening state of other global currencies. It also mentions the growing popularity of gold, cryptocurrencies, and other non-traditional investments due to distrust in governments and traditional financial systems. The author advises against keeping all cash in banks due to the risk of money disappearing and encourages considering precious metals as a secure investment. However, they also acknowledge that the future is uncertain and the best investment strategies may change over time.
Transcript
It’s absolutely amazing what the support you’re going to receive now. I wanted to start out this episode first before we get into all the issues with the banks and more on the things have been happening on campus here recently. And Charlie Kirk put this out. He showed that the criminals who seized Hamilton, Hamilton hall at Columbia were actually outside at, they weren’t students. About 300 were arrested in Columbia University last week, the majority of whom are not students. And so he basically said, do you realize just how much money resources the left wing activist networks have? And so we know this is being funded by George Soros.
We know that they’re causing all types of problems in those campuses. What do you have to say about all this professional protesters again? I mean, seems like almost every big protest, you know, Floyd, the election stuff, this, you know, they have to make a big stink about it. They have to have people that come in that aren’t really, they weren’t there. They didn’t do anything. They just want to create a narrative that there’s a huge problem. And I think this is just par for the course and it’s election year. Lt so I think they want to make sure that they get some kind of a message out that there’s problems that the right can’t fix but the left can.
And boy, you have to have all this equality and make sure that everyone feels good and all this stuff. And it’s like, but, but, but a lot of this stuff is fear based, right? Because when people are gripped and paralyzed with fear, I don’t know if I should go out in the streets at night. I don’t know if I should walk to the grocery store. I don’t know if I should do this or that. People will start to vote differently, they’ll start to act differently, they’ll start to spend differently. And that’s part of what feared us.
And why politicians sometimes rule and reign with fear. Because it gets people to vote differently. Yeah, that’s right. That’s right. Some. So the positive news that came over all of this was that the guys at the PI Kappa Phi, you see them holding the american flag, and they were getting pelted by these terrorists, what do you call them? And they’ve been getting a lot of support from the public, but it was great to see these young men act on campus defending and holding that flag so that nobody would take it down. And so there are folks that are standing in the gap.
Haven’t seen that in a long time. And we’re seeing a lot of this backfire now. It’s not like it was four years ago, seven years ago, eight years ago, whatever, before these other elections where they basically did sway a lot of people in one direction. It seems like it’s backfiring on many of them and just not the same. And so I’m pretty happy to see that myself. Yeah, me, too. I love it. It’s sometimes when you get way too much government overreach, people start to wake up and say, wait a second, this is not what we voted for, B.
This isn’t. This isn’t my. This isn’t my grandpa’s Democrat party. Right. This is like radical communists that are run. Ruling the show here, right? That’s right. Yeah. I wanted to show this other thing that we were going to talk about and some other issues with the IR’s. We’re going to play this clip that you sent me. We’re going to play this now. All right. I’ve learned is that the IR’s, in fact, has been using AI to access bank accounts of american citizens without any kind of a search warrant or even without any specific claim that they have committed a crime.
So this was something that was discovered by an undercover journalist. And what they found is that the IR’s has claimed that they have access to every single person’s bank account. This person also indicated that they’ve been working with the Department of Justice and that they have absolutely no problem whatsoever going after the little guy to make sure that they are paying their taxes. This is such a blatant violation of the Fourth Amendment that we have. Jim Jordan and I sent a letter to the IR’s demanding that they provide additional information about what they are doing with AI and what they are doing to protect the civil rights of american citizens.
So there we go. Something I never expected. I mean, when I hear that, I was talking to a buddy of mine who’s like a financial commentator, right? And he said, kirk, they’re doing this so they can actually get everybody’s routing numbers and account numbers for bail in legislation. You know, they want to have access to everyone’s bank accounts. And it’s like, I don’t, I mean, sure, that’ll, that’ll be what happens, but I don’t think this is why they’re doing that. Because when you start to connect some of the dots of previous policy decisions and administrative rulings from like the bank for international Settlements, IMF and World Economic Forum and so forth, they want programmable money.
They want to, like we’ve talked about a dozen times, easily with central bank digital currency, the ability to cut you off from buying or selling if they don’t like your ideology. So here I think this is all about building the framework of your digital social profile and your social credit score. Because if they’re monitoring every bank account already, they’re monitoring your transactions. And so if they monitor your transactions, it’s real easy to say, okay, Lt spends 18% of his monthly income on gas. This guy doesn’t want a clean environment, right? I mean, they can start doing all of this stuff.
But we’re all concerned about central bank digital currency wanting to do the same thing. Because the bank for International Settlement said, we’re just not going to send wires if the ideology of the use of the funds doesn’t match up, and we’re going to monitor every single transaction of every person in every bank in every country real time. Well, why would they have to do that? So they can test your ideology. It’s like, LT, we don’t have to wait for central bank digital currency. It’s already happening. Artificial intelligence coupled with the IR’s, they’re already doing it without a warrant.
Without a warrant. So I start thinking even a little bit further. It’s like, who would they get a warrant from? My mind is kind of spiraling out of control as I’ve seen this. Because if you go back to 2009 and they changed the rules of ownership of your checking and savings accounts to being a beneficial owner, and we gave up the ownership rights to all of our financial institutions without us being aware, this is how they can use your checking and savings deposits as collateral to pay off their derivatives debt without asking you. It’s how they can do bail in legislation without asking you.
Because I don’t want to. I don’t want to do bail in taxes. I mean, I didn’t sign up for this. Well, they don’t have to ask you because you don’t own your deposits anymore because you’re a beneficiary of the deposits. The financial institution owns them. So, to this congresswoman’s point, you know, they don’t have a warrant. But who would they get the warrant from, the banks or us? If we technically gave up ownership to the bank in 2009? Maybe they did get warrant. Maybe they did get permission from the banks to do all that, but they didn’t have to tell us because we don’t actually own the accounts.
Like, why would I tell you lt what I’m doing with my own personal finances if you don’t own them? It’s like, it’s none of your business. Right? So maybe that’s what the banks are thinking. It’s like, Kirk, LT, some money that you have in the bank, none of your business what we do with it, because you gave us ownership in 2009. That’s where I think the, the insidious nature. I mean, this congresswoman’s getting all hot and bothered about it, which she should. That is spying on people’s bank accounts. But the whole warrant piece, I think you’re barking up the wrong tree.
I think they’ve already got permission from the banks because we gave them ownership already. So we don’t have to wait for central bank digital currency to be here, which actually puts more urgency behind our message of why we shouldn’t have too much money in the bank, why we should allocate into physical, tangible assets like gold and silver, why we need to get out of their system, because it’s already here. Yeah, we saw this one, too. Let me see if I can bring this up. This here. Bank failures begin again. Speaking of banks, Philly’s republic first seized by the FDIC.
What’s going on there? So we’ve been sounding this warning siren for literally. Okay. When you and I started doing shows together on the economy was right during Silicon Valley bank days. So this was in March, April of last year. So a little over a year. Well, you know what? Back then, we were saying, this isn’t over. There’s going to be more bank failures coming. Right. But they stopped it temporarily, and people thought that this was great. The Fed did a great job. They put a band aid on the gaping wound of banks running out of money.
But they never healed the gaping wound. Right. They just said, okay, bank temp funding program. We’ll provide stimulus money to the failing banks so we can stop them from going into FDIC receivership before it even happens. So you didn’t see too many banks after that? But did the economy get better? No. Were people spending more money? No. Well, then how come there were no more bank failures? Is it magic? No. They had stimulus money. Right? So. But that sunset on March 11, so it’s gone. So this is the first bank. Republic bank is the first bank that actually didn’t get stimulus money.
And so they went directly into FDIC receivership. I think this is a sign that this is going to happen over and over and over again because they’re just the first. Well, what’s, what’s a little bit troublesome, or a lot of it troublesome about this story is prior to Silicon Valley bank, signature Credit Suisse, First Republic, Silvergate bank, the five that went into FDIC receivership last spring, that brought FDIC assets from about 1.7% of all deposits covered in America to 74. So literally, more than half of FDIC’s assets to cover our deposits evaporated. So now what does that mean? We only have 74 left? It means if we, technically, using the example from last spring, if we get another four or five banks that go into FDIC receivership, FDIC could be done and gone.
Well, now what’s going to happen if there’s no stimulus money and FDIC is insolvent? You’re going to have bank runs that just are going to wreak havoc in people’s hearts and minds and that fear is going to strike because they’re going to lose their money and they’re not going to know what to do. But this is where central bank digital currency, they’re going to come in and basically pretend to save the day. We’ve got a solution. Don’t worry that banks are failing. We now have digital currency and this could never happen again. Right. Right. I mean, as stupid as that sounds, it’s real easy to create inflation with a digit.
All you do is hit the enter on zero on your keyboard a bunch of times. I saw this video of Alan Greenspan. This is probably back in the eighties or nineties. I mean, it’s pretty old. It’s like 25 years old. But this statement that he made was, when you print money, he said, we’re printing money in America, and when you can print money, we will never default. It’s like, what? How stupid. But in fact, what he said was kind of true in a weird sort of way, because back then we were the world’s reserve currency, so we always had built in demand for our currency because oil was purchased in us dollars.
Right? Everywhere. So when they wanted to raise the debt ceiling, provide stimulus, do whatever they needed to do there was always built in demand for our currency. So, in effect, when he said that back then, it was partially true, but naive, because no reserve currency has ever lasted. In fact, ours is, for all intents and purposes, done. It’s gone when the petrodollar died because the BRICS nations took it away. Here’s where you look at this bank, this bank in Philadelphia that went under. Let’s see, they have $6 billion in assets, $4 billion in deposits. 667 million is what FDIC covered.
So let’s do the math on this, because this is going to scare some people, I think. But if FDIC covered 667 million, that’s everybody’s deposits from zero to 250,000, because that’s what FDIC covers. They don’t cover anything. Over 250,000 in deposits. Well, they had $4 billion in deposits. FDIC covered 667 million. That’s like $3.3 billion of wealth that just went. It’s gone. Oh, my goodness. Right. So imagine when business owners and commercial real estate companies and large, wealthy investors that all might have over 250 grand in the bank, when they realize, oh, everything over 250 is gone.
And that story starts to spread throughout America. You’re going to have a run on the banks because there’s no more stimulus money. The bank temp funding program is done. This is why I’m encouraging everybody. Don’t have too much money in the banks. Allocate it into strength, into something that’s real, that can’t be taken away with a beer, cat’s press of a button. This is where I think bank failures 2.0, just like Silicon Valley bank days, but on steroids, is going to happen. And I think it’s right underneath our nose. I think this is the. The tip of the iceberg with the first bank that failed.
And when you look at the numbers, it wasn’t small. That’s $3.3 billion. It evaporated because FDIC only covered 667 million. That’s a lot. That’s a lot, right. So, on all of us. So here’s where their plan, what comes next, is. Well, we do have a solution. Central bank digital currency. But how close are we? Right. So I think that we’re really close, because last week, the World Economic Forum came out with their numbers, 98%, like we talked about, of all the countries in the world are ready to adopt central bank digital currency. Now, I was. You and I were looking over this article earlier.
Earlier when we were just talking off air. The CBDC system has got interoperability already from country to country, from bank to bank, exchange rate from different currencies trying to figure it out. SwifT system has got their part already, beta tested twice, which means how do you have a digital currency that has a different exchange rate from country to country to country? And how are we going to do bank wires like that? They’ve got that piece pretty much figured out. All the pieces are in place where they just take that whole system, plop it down on the old one, and we’ve got a new system because it’s already been figured out.
Oh, my goodness. I mean, it’s right there. So this article is about the unification of all the central bank digital currencies. See, what’s interesting about this is, you know, there’s. There’s 98% of all the countries in the world are going to have their own central bank digital currency. It’s not really unified. So how do you unify it into basically one global entity? Which to me, when you read the Bible, the mark of the beast isn’t like a different mark of the beast. And country after country after country, it’s a thing. Right? Right. So this unification, that word unification, when.
When you’re married, unification is good. You’re connected at the hip to become one. When you’re talking about different countries and different banks, that’s not a good thing, because that’s globalism. That’s a one world, global government. Economic, financial, political, military connection. Unification. Like, all these countries are married together. And when you want a global communist utopia that can control all people with one currency and one political system, that word unification in that context, outside of marriage, really scares me. And this is what they’re talking about. Oh, that is unbelievable. When we go over to another issue that you had to share here, I’m going to bring it up.
This one right here. The dollar up, gold up, crypto up. That’s not something you see too often. It’s like, hardly ever. Like, literally, this is very, very rare. So. But let’s dissect what that means. When you look at crypto and when you look at gold or silver, we’ll just, you know, precious metals as a whole, they have two very fundamental forces that cause them to almost be the same, except one is digital, one is tangible. Those fundamental forces are. Why do people invest in cryptocurrency? Well, because they want privacy and they want growth. Why do people invest in gold and silver? Well, because they want privacy and they want growth.
They’re both the same, except one is digital, one is tangible, one is real. See, but in a digital world, it’s going to be easy to flip off the switch. And people say, well, now you can’t do that. It’s like, well, you have centralized coin wallets where these tokens are housed. If Coinbase or kraken or FTX, if these coin wallets decide, we don’t like where your IP address is from, like Coinbase basically said, if you have a russian IP address, you’re not getting your money back ever. Oh, wow. People might say, well, great, we don’t like Russia.
It’s like, okay, but what if it were you because you’re a christian or because you are a conservative or because you use gas instead of solar power? I mean, you name it. I mean, Russia is just a people group, a subset of humanity that they said, no, we’re not going to let them take their money. But you could exchange Russia for any other people group. I mean, and the worse that it becomes, the more hate that we’re seeing. Like what you started the show with. You know, you’ve got these, these paid protesters. There’s a lot of hate in this world, and there’s a lot of hate politically.
And when you have that, it just isn’t, it isn’t a good sign. But the dollar, so here’s where the dollar is going up with it. How could the dollar be going up with it when they’re printing money like there’s no tomorrow? Well, it’s because the rest of the world, their currencies are stinking it up even worse than the dollar is. So when you compare them, the dollar arbitrarily looks stronger than the other really weak currencies. Does that mean that the dollar is strong? No. We’ve got unsustainable debt. We’ve got $34 trillion worth of national debt. We’ve got high taxes.
Wages are coming down, people can’t afford to live. That’s not a good currency for some other country to say, hey, I feel safe investing in that currency. No, they don’t. But when everything else is really garbage, it automatically looks a little bit better. So for a weird time in history, gold, the dollar, cryptos are all going up together. But the dollar part to me is seasonal, because everything else is worse. The golden crypto part to me is structural. That’s a structural change in the economy where people want privacy and growth because they don’t trust their governments, they don’t trust their currency, they don’t trust their investments, normal investments, and they want away from the system that is into something that’s private and growing.
See, that’s a structural change. And structural changes are last way longer than seasonal adjustments. Right. So this is where, but this weird, perfect time in history, you’ve got all of them going up together for different reasons, but always look at the medium and long term. Most people look at the short term and forget about the consequences, medium and long term consequences, just like when you’re counseling somebody. Lt and it’s like, well, yeah, sin is fun for a short period of time. You talk to kids about this all the time. But the wages of sin is death.
Right. It’s like long term consequences are not good, even though it might be fun for a season. So never look at short term things. Look at the medium and long term implications and make your decisions based on that. That’s right. That’s right. Yeah. It’s very important, all this that’s going on, especially the warning on the banks. Having all of our cash in the bank is actually not a good solution. And we’ve been shouting it really from the rooftops for the past year and we’re seeing many that are giving you a call or clicking on that link and, and making changes.
And it’s very important, folks, that you understand the probability of money disappearing out of your bank account and you don’t want that to happen. So I definitely encourage you to get a hold of Doctor Kirk elliott@annwinow.com. Gold. Just have a conversation. Find out what you can do with this cash and turning it into silver and gold and it will change your life. And it is a biblical move. Yeah. I mean, amen. I mean, final, final decision. It’s, you know, that I think that’s so wise in this world that we’re living in. And look, I’m not saying that gold and silver, the greatest thing since sliced bread, we don’t know what the future holds.
Maybe we get a president in power, a congress in power that starts to grow the economy again. You can go back into stocks, bonds, mutual funds, more traditional investments. Then we don’t know. Or maybe we have all these currencies that are backed by gold by that point and we’re going to want to stay in gold forever. But for here, right here, right now, the only way to maximize your future is to maximize each and every day. And right now that happens to be precious metals. And it may change down the road. I don’t care. Either it does or it doesn’t.
You know, we’re either going to be in gold forever because it’s backing currencies and we want that perpetual growth or we’re going to sell it a few years from now, lock in our profits and go into something else. But for right now lt, I don’t see anything better. That’s right. That’s right. It’s amazing. And this, all of the changes that we’re seeing happening around us and more should have folks definitely looking into this and for major changes that could happen. The enemy definitely tries to use things to discourage us, put us into a trap, get us into CBDC.
And now with that news of, of the banks worldwide adopting CBDC, I mean that is, that is one that we do not want to see happen, but definitely goes along what you’ve said. It was basically the mark of the beast controlling all of us and what we say and do. And so now’s the time folks, give Doctor Kirk Elliot a call and just let them help you out. Is absolutely amazing what he did for us and our family with our IRA, converted it over to precious metals. We feel very much secure now. So we appreciate you Doctor Kirk Elliott.
We’re hoping for more updates soon as these things change. And also looking forward to having you on the boat in August, August 11 through 18th at sea with Lt. We’re going to enjoy having you. Definitely having conversations on the boat with you is going to be absolutely amazing. It’s going to be so much fun. It’ll be a blast. All right, we’ll talk to you soon. All right..
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