9.1.24: LT w/ Dr. Elliott: India ditching dollar? Buffet selling Bank stock DEMS communist TAX Precious metals needed. Pray!
Summary
➡ Warren Buffett is selling his bank stocks because he foresees economic troubles ahead. This could affect bank customers, as banks might use their deposits to bail themselves out in case of financial difficulties. Meanwhile, India is planning to stop using the US dollar for trade with BRICS nations, which could weaken the dollar’s value. Lastly, health officials in Massachusetts have advised residents to stay indoors due to a mosquito-transmitted disease, which could impact the economy similarly to the COVID-19 lockdowns.
➡ The text discusses the economic impact of various health crises, including pandemics and animal diseases, on small to medium businesses and individuals. It suggests that another major health crisis could lead to severe economic consequences, as many people have already exhausted their savings. The text also mentions the potential for increased control by organizations like the World Health Organization during global health emergencies. Finally, it encourages people to find peace and creative solutions during these challenging times, and suggests investing in precious metals as a potential financial solution.
Transcript
Some big names are coming over and there’s going to be a lot more. And I think it’s biblical in some sense. I mean, we were discussing how interesting they used to all be on the democratic side, but now they come over to the conservative side because they woken up to biblical values. I believe that’s what our party is for in many ways, despite the rhinos who are going to go for Kamala, because we know who they are now, evils being exposed every single day. Doctor Kirk Elliott, it’s been exciting to watch. You know, it’s exciting and so full of evil.
So you know how the Democrats in the left, it’s like, oh, we want to keep these people off the ballot. Remember how early on they didn’t want to get RFK junior on the ballots in a lot of states and they were fighting them? Well, now, as of earlier this week, Michigan and Wisconsin passed a law that said we can’t take him off the ballot. Okay. I guess, I guess, you know, it’s not to your benefit anymore. And it’s really not. I mean, what the unifying that happened when RFK junior said, look, Trump and I might disagree on some things, but we agree on a lot, which we both love, american, blah, blah, blah.
So what RFK brings, junior brings is swing states getting five to 6% of the vote, a lot of the swing states, or even Steven, or maybe a one to 2% margin of error, he could totally swing that. And I know that the left is so fearful of that. His speech, when he, when he decided to announce it, it was not necessarily, hey, I support Trump speech. It was a, hey, the democratic party is not the party of my father and uncles. Amen. It’s turned communism. It’s bad, it’s anti freedom, it’s anti free speech. It’s, it’s all this stuff that’s just awful.
And I think from, from a name like Kennedy who is, who is, you know, synonymous with the Democrat party. For him to say that the Democrat party has basically left America was just a really powerful statement. It sure was absolutely brilliant. And on the opposite end, we’ve got the evil ones that we’re talking about, of course, being exposed left and right. This is a big one here that you sent to me. Kamala Harris backs President Biden’s 44.6% capital gains tax proposal, the highest in history, and includes 25% tax on unrealized gains for high net worth individuals.
What in the world is going on? Okay, so this is, if you were to look up communism in the dictionary, this is probably the tax policy, right? So, so this is so bad. This is actually close to a 70% tax. And let me explain how. So let’s say there’s a tax on an unrealized gain, meaning you haven’t sold whatever they’re taxing you on. You just own it. It’s taxed on the value, right? So let’s say you had a house that was worth 300,000 and it grew to 600,000 and you’re still living in it. Right? So there’s a $300,000 gain and some arbitrary day of the year, they would say, hey, we’re going to impose a 25% unrealized gain, capital gains tax on this gain, on your house.
Nlt you’re going to say, wait a second, I bought it for 300. It’s now worth 600. It’s 25% on 300,000. That’s a $75,000 tax. But wait, I don’t have any money in my bank account to pay this tax. Now I’m going to have to sell the property to pay the tax. When you sell the property, it incurs a 44.6% capital gain. 44.6 plus 25 is like 70%. They just taxed you 70% on the growth of something. Now when? Now replace that with a stock portfolio or a bond portfolio or a farm that you inherited when you were young or whatever.
It’s like if you can’t pay the tax on something that’s valued at a high amount, you’re going to be forced to sell it and then you have to pay that double tax. This is just absolute communism and abolition of the rights of property. Really. It’s like they’re stealing it from you. That’s right. That’s right. So it’s strange that they would have the ability to just go around and look at folks, you know, properties, whatever. And they say, okay, this is what we’re guesstimating now. Pay up. That anybody in their right mind would say, okay, I’m still going to support the Democratic Party.
Like, you know, I’m definitely going to go for Harris and Biden now. It almost seems like a wake up call for many would be happening, correct? Well, you would think. But their messaging is pretty well thought out and sinister. I mean, it’s like we’re going to attack the wealthy. This is only for high net worth people, right? And so all the underclass or lower class or even middle class voting masses are going to say, yeah, finally, let’s just stick it to the rich. Okay. At least they’re not getting at us. I mean, because they don’t define what a high net worth individual is.
Oh, that’s right. Is it somebody who makes 100,000 or is it somebody who makes a million or a billion? I mean, what is it? But here’s where these taxation policies of the left, where they think they’re actually attacking the wealthy and they’re all proud about it. It actually hurts everybody. So case in .3 days ago, I read this article about this guy in Chicago. He, who owned some kind of a loft in downtown Chicago. His property taxes were $23,000 a year. Okay, they guess what they were when they raised the property taxes in Chicago. 128. So it went from $23,000 a year to $128,000 a year.
It’s like, what? And so he had to raise his rent on this property by $5,000 a month just to cover the excess that he couldn’t afford. So it’s like, okay, the left and these Democrats in this crazy city that are just taxing the living daylights out of people think we’re sticking it to these wealthy property owners. It’s like, wait a second. The people who are getting hurt the most are the ones that were renting that property that now can’t afford the rent. So this is where you can’t just think that you’re taxing the wealthy. When you bring higher taxes on anybody, whether it’s a business owner or whatever, you’re actually seeing the masses.
And this is what people don’t get about communism. Communism, which, I don’t use the word flippantly. That’s what Kamala is. She’s a communist, right. Based on her policies. So they don’t have this ideal of having everybody equally wealthy. It’s basically everybody is equally poor because you take away the incentive to work and to succeed and to grow and thrive and prosper. And we’re, you know, we’ve boycotted Cuba forever. Right. Because of, you know, their communist policies. It’s like we’re no different. That’s right. We’re truly no different. And in fact, remember a couple of weeks ago when Putin had said something about, you know, people go to Russia, it’s like Russia is actually less communist than America is right now.
It’s insanity. It’s insanity where we’ve gone. And there’s these spiritual blinders on people’s eyes that aren’t seeing it. That’s right. Yeah. You had something else here that we were going to show about the, I believe it’s Buffett added again, selling more shares, repeat, $982 million. What’s this all about? What’s Buffett up to? Why does he keep doing this to banks? Okay, so Buffet’s a smart investor, whether you like his politics or not. We’re not talking about that. We’re talking about his investing prowess. Right. Well, multi, multi billionaire, one of the richest people in the world. He keeps selling bank of America.
And that was like one of his babies. He loved that. That and apple were his, like, two favorite stocks. And he’s been on record of saying it. And I. And to this date, he’s now sold about $5.3 billion worth of bank of America. To what end? If he’s a wise investor and he wants to buy low and sell high and grow his portfolio, he would keep bank of America if he thought the banking stock sector was going to do well. He obviously doesn’t. He’s selling it at a billion dollars a crack. He doesn’t think the bank of America has a rosy future ahead or else he would have kept the stocks.
So what is Warren Buffett saying? It’s like that old country song. It’s like you say it best and you say nothing at all. He’s saying it best by not even saying a word. His actions are speaking louder than any word could. He doesn’t have to discredit the current administration. He doesn’t have to discredit the economic policies that are coming from Washington, that are causing people to have delinquencies on their payments that is going to ultimately end in defaults at banks. Hes just selling the stock because hes a smart investor. He doesnt see a good day ahead for that bank, and so hes getting rid of it.
Thats the only logical explanation because if you read that article, basically my paraphrase, it says Warren Buffett’s kind of mums the word on why he’s doing it. So I can tell you why he’s doing it, because the president that he’s supported for a long time is actually killing the economy, and he doesn’t want to admit to it. So therefore he’s just selling the stock. Right. Right. Well, what effect does this have on the folks that might be with bank of America or anything at all across America? I mean, how does that have an effect on all of us? Well, you can connect some dots.
When Silicon Valley bank went under in March of last year, Janet Yellen, treasury secretary, came out and said, too big to fail. No such thing anymore. Right. We don’t have enough money to start bailing out all these big financial institutions. So therefore, we’ll just go with what the Dodd Frank bill under Obama had passed, which was bail in legislation, which means the institution is still going to get bailed out. It’s just not by the government, it’s by the depositors. Right. So. So if you were a depositor at BOA, there’s a good chance that if they go under, they don’t, you don’t have access to your funds.
They’re just going to use them to pay it out. It’s like, well, Kirk, how could they do that? Well, because you already gave up ownership. So back after the 2009 crash, and all these financial firms that, who are going bankrupt, like Bear Stearns and Lehman Brothers, they changed the way that people own their accounts at financial institutions to beneficial owners. So rather than you owning your deposit account at Wells Fargo, your checking account, your savings account, you gave up ownership to them, and you’re now a beneficiary of that. Right? So. Well, why would we do that? And I didn’t sign that paperwork.
It’s like, yeah, you did. It’s probably in that folder of like 20 pages that you signed off on when you opened up your checking account, you just didn’t read far enough, right. Because what beneficial owner does for the bank is it makes your deposits assets to the bank, so they can use them as collateral to basically pay off derivatives, debt exposure, get other loans that they shouldn’t get. Right? So you can’t pledge something as collateral that you don’t own. So therefore they changed the rules and they now own your assets. So anyways, the danger to depositors is if you don’t know the strength of your financial institution, whether it’s a big bank like Boa, or a small bank like your little main Street America, just one branch bank or a credit union or anything, you should, you should try to understand what their number of defaulted loans are, their nonpayment rate, what their asset basis, what their asset mix is.
Because if it’s a lot in commercial real estate and they have a lot of delinquencies and they’re chasing yield by offering these cd rights that are higher than the norm, you know that they’re in trouble. And so anyways, we don’t. The bottom line for us as investors is banks across the board are sitting on a slippery slope. That’s right. And so I don’t care if it’s a good one or a bad one. We just simply don’t want to have too much money in the bank. You got to have some, you got to have an emergency fund.
Do we still have to live, we still live in a cash world. I just wouldn’t have too much because too much, if it’s way too much, FDIC is underinsured. You’re not actually covered if it’s way too much. And inflation is hovering unofficially at 15% and you’re getting 4% on your high yield savings account, well, you’re still losing 11% a year. But having too little affects your peace of mind because you don’t even have enough money to cover an emergency, so you don’t have to sell off your assets to pay a debt. Right. So having a nice fine line in between is going to be different for everybody.
What is that fine line? We don’t know, but it’s not too much. It’s not too little. Just be very careful of the banking sector right now because I don’t know which ones are safe and which ones aren’t. If we would know, if the people at Silicon Valley bank would have known, they would have gotten out the day before it closed. They sneak up on you. Lt. That’s right. And sneaking up on us, of course, would be even overall, not just the banks, what we put in the bank, which would be the dollar. So India is willing to ditch the dollar and trade with the BRICS partners, excluding China.
This keeps getting uglier and uglier by the day. This is a pandora’s box right there, because, a, you’ve got the de dollarization of the world. India, a massively large country, is not going to use dollars. They’re going to use the other currencies in the BRICS nations. But for some reason, and I don’t know why, they can’t stand China. Right. So they’re not going to use the chinese currency, probably because China and India, both big, massive billion plus people live in each country, they want more control and probably be more vote in the BRICS nations than what they’ve got.
So they don’t want to give any more power to the other nation. So, you know, it’s just like two of the bullies in the sandbox competing to run the sandbox and recess. Right. But, you know, to me, it’s like the bigger thing on there is they’re ditching the dollar and going with other currencies that death knell for the dollar. Yeah. How does that affect us? What does that mean when they say they’re getting rid of the dollar? Can you explain that again for us real quick? So we’ve been the world’s reserve currency since 1944, the Bretton Woods act, which means all international settlements between countries are traded in the us dollar to add monetary stability to the.
To the global monetary system. Right. So then in 1973, the petrodollar became the norm, and that’s the reserve currency status on steroids, because all international settlements of oil were traded in us dollars. And that was a plan Kissinger put in place to actually, he sold Saudi Arabia. It’s like, hey, sell all your oil and dollars, no other currency, and we’ll give you military protection. Right. So now, in January of this year of 2024, when Saudi Arabia, United Arab Emirates, Egypt, Ethiopia, Argentina, Iran were all admitted into the BRICS nations, BRICS basically became an extension of OPEC.
I mean, just with all those countries. Right. So now no more petrodollar. They said, we’re not going to trade in the us dollar anymore, like Saudi Arabia and Iran and all these places. We’re going to trade in our own currencies that are all part of the BRICS nations. Right. So that diminished the value of the dollar a lot. Really? A lot, a lot, a lot. But why were they able to do that? Well, because they’re now part of the BRICS nations. They’ve got Russia, they’ve got China. They don’t need the military protection of America anymore. So now they felt like they could.
Cause they have their own military protection from the new coalition that they’re part of the BRICS nations. Right, right. Yeah. Interesting. I mean, we’ve just. We’re watching the money, we’re watching the banks, the sell off from Buffett and, of course, politics, you know, amazing how that’s playing out for America and that whole issue, how it’s going to affect the entire earth. Another one that you wanted to highlight today is pretty interesting for all of us, and that would be this one here. The Massachusetts health officials are advising residents to stay indoors and implemented a 06:00 p.m.
curfew on outdoor activities until at least October after detecting a human case of eastern equine encephalitis transmitted by mosquitoes. What’s going on with this? So I actually got yelled at online by somebody said, kirk, why are you talking about viruses? You’re not a medical doctor. And you would be right. I don’t know anything about viruses. However, this is what I do know. It affects the economy, right? So. Oh, gotcha. Yeah. So. So remember what happened during COVID right? It’s like this fear, this fear that permeated everything, and. And Fauci was spouting off how everyone was gonna die, and you had to have vaxxers and you had to have boosters, and, boy, we better put masks on, people, because this is very contagious.
When turns out it has, like, a 0.6% mortality rate. It’s probably more dangerous to drive a cardinal. Right, than Covid. So anyways, during COVID and the lockdowns and the shelter in place laws and the travel restrictions and everything else, people lost their nest eggs. It’s like mom and pops had to dig into their savings just to survive. They didn’t have any money. They used everything they had. So here’s the thing. Another pandemic or lockdowns or restrictions or any of that, America won’t be able to survive it economically. Small businesses, medium sized businesses, entrepreneurs, they’re going to be hurting, and so is the rest of the world.
Right? So this is like the. I mean, they’re bringing in the Tom Brady of viruses here because it’s not just one. They’ve got this triple e equine encephalitis thing. Whatever it is, it’s. Right. It’s like, causes encephalitis and meningitis or, you know, brain swells and 30% mortality rate. And sadly, according to the World Health Organization, there’s no cure. We don’t even have a vaccine for it. It’s, like, good. Probably more people are going to survive then, right? But then you’ve got the bird flu, which has been going on for a bit, and they’re scaring people about that because it has a 20% mortality rate then that transferred to cows.
So now cows got the flu from the birds, and you got this cow flu. So they’re. They’re, you know, you know, killing off cattle at ranches throughout America. They’re. They’re burning somehow, randomly, chicken farms are burning up like literally to the ground. And they’re killing chickens. And then you’ve got monkeypox. It’s like, oh, monkeypox and bird flu and cow flu and, and encephalitis. And the World Health Organization said monkeypox is now a state of global health emergency. It’s like, oh no, when you say those words, most presidents, like 192 of them, gave up their sovereign rights as a leader of a nation to the World Health Organization, where if they deem it a global health emergency, they get control.
They can tell people when they can open up a bank account, when they can travel, when they have to wear masks, when they should get vaxxed, all of that. So in New Zealand, for example, they’re basically said, martial law is coming if you don’t get vaccinated. It’s like, what? So they’ve got these stupid vax passports now in New Zealand. And I was talking to Maria Z this morning and she’s from Australia. And she said in Australia they’re basically saying no travel to Europe. In parts of Asia because of bird flu or monkeypox. I don’t know which ones.
But now they’re going to say, you can’t, you can go possibly if you’re vaccinated. It’s like, oh no, here we go again. Right? So all of this is coming during an election year. During times of fear, people will give up their freedoms to vote for the person who will give them the most out of the country’s treasury. So I see all of this and I’m the reason I bring up all the virus stuff. Even though, mister viewer, you’re right, I’m not a medical doctor. This is going to destroy the economy this time. It almost did last time.
But Americans are really resilient and we got through it. We survived. I can’t say that a lot of people thrived, but we survived. This time there’s no backstop. People don’t have an emergency fund. They used it all. And then under Biden’s horrible economic plan for America, all that’s been eaten up with inflation and higher interest rates to slow that down. So we’re at a point of economic crisis. We just really are. And this is my prayer lt, that God would show up large and in charge and give people peace in the midst of the storm, give people creative ideas on how to navigate through this economy.
Because whether it’s pandemics and health scares or bank failures or inflation or wars and rumors of wars, everything that we’re seeing is the enemy that prowls around like a roaring lion scene. Who can you steal, kill and destroy? Right. So where God is a God of peace. Not that. Right. So. And he brings wisdom and he brings discernment. He brings courage and boldness. How could you not have courage and boldness when Jesus, the judge of all judges, then the creator of the universe is on your side. That’s right. I mean you don’t have to be scared.
You really don’t. So anyways, that’s kind of my message for today. It’s hard to tell people to have hope and that there is a solution when they’re the only reason they know that they have to have a solution is because you have to understand the world that we live in. Right. I don’t want to be labeled as like this fear monger. Right. I’m just not not sensationalize everything. It’s just the world that we live in. These are all the facts that we’re going over. But the cool thing is there is a solution, at least financially. That’s right.
And that’s what we’re here to help people with. That’s right. And you know, you were mentioning it last week, what silver. It’s a great time to get in because there’s predictions that it’s going to go up. So while all these terrible things might be happening around us, for us physically to get involved in precious metals, I mean, what a time to do it. We basically shot it from the rooftops more and more. And we’ve seen the effect in our own family since meeting you last year. It’s what a change for us. So we certainly appreciate that what you guys are doing with your team to help so many people out.
I mean you’re having the IRAs come over to you and switched over from this fiat currency to precious metals and what a blast. And folks can call you also, is that right? Yeah, just 720605, 3900. Just say lt sent you or you can go to end. We know.com gold. The link on the bottom of the video here. Right. And what we’ll do is, I mean, just so you know what the steps look like, what you, what to expect because a lot of people don’t call because they’re afraid. It’s like, whoo, you car salesman. He’s going to really get me into something.
It’s like, no, we’re going to ask you questions. It’s like, what are your fears? What are your goals? What do you want to do? What do you want to accomplish? And then we’ll help you map out a strategy for success that you can either say, yep, that sounds great, or nope, take a long walk off a short fear. I’m not interested in you, which is fine, but you know what? So many people, when we’re done with the phone call, I can feel that anxiety start to melt off of them and they start to think, I didn’t know that there were people out there that shared the same faith, the same biblical worldview, the same political worldview that doesn’t listen to mainstream media, that actually has an answer.
Amen. Amen. And we do because it’s Jesus that operates in us and on us and through us every single day. And you can’t go wrong with Holy Spirit empowered living. You just can’t. That’s right. And so on that note, let’s call out to heavenly Father before we close today. Heavenly Father, thank you so much for Doctor Kirk Elliot. His team, what they mean to us, to our own family and to so many families across this entire earth, really. And the effect that he’s had with his entire life, his life story has been absolutely phenomenal. We just know that he’s under attack from the enemy every single day.
They don’t like what he’s doing. They don’t like his biblical support of so many people that are hurting. We know the enemy is out and active always looking for ways to devour us for sure. But we do call on you to just protect him. May their eyes be open maybe one day to see the mighty angels in their chariots surrounding his entire business and everything that they do for people each and every day. We thank you for this answer to prayer. Even now we ask this in the name of our heavenly father through your son Jesus Christ Yeshua.
Amen and amen. Amen. Thank you so much doctor Kirk Elliott. And we know.com gold folks, you know where it’s at below this video. Click on that even if you’re hesitating, give it a click folks. Reach out to them. You’ll be encouraged. If anything else it’d be absolutely wonderful for you. A talk that you will never forget, that’s for sure. So once again we look forward to talking to you again Dr. Kirk Elliott. Till again, we’ll see you soon. Sounds good. We’ll see you. Bye.
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