➡ Dan warns that banks are in trouble because they’re losing a lot of money. He says that instead of lending out money to help businesses and the economy, banks are keeping it for themselves or making risky investments. He advises having money in different places and being prepared for possible bank problems. He also talks about a workout program developed by Chuck Norris that helps people stay fit and healthy.
➡ The article talks about two main issues. First, it discusses how house prices in Orange County have become too high for most people to afford, leading to a drop in sales. Second, it mentions that recent heavy rains have caused flood damage to many homes, which could lead to homeowners losing their insurance. The author warns that these problems could lead to a big crash in the housing market.
➡ This text talks about a few different things. First, it discusses the future of Bitcoin and other cryptocurrencies, and asks if they will really be as valuable as some people think. Then, it tells a story about a problem in Atlanta where people are illegally living in empty houses, even turning some into places for illegal activities. Lastly, it shares a strange story about a radio station in Alabama that was completely stolen, including the tower and all the equipment. The text ends with a warning to be ready for more lawlessness in the future.

Hey, it’s Dan. Welcome back. You’re watching. I allegedly. And I’ve got a good one for you today because it is nice to be home, guys. It really is. Do you smell that? Smells like a bank run, guys. Because bank runs are on the menu right now and you can’t avoid it. Got a lot to cover. Hit the like button. Subscribe to this channel. Plus, we have a sponsor, her morning kick, which I will talk about a little later.

But first things first, guys, okay? Janet Yellen, who I call Grandma Yellen. And it infuriates a lot of older women that write me and say, that’s so disrespectful. She’s so accomplished. It’s terrible. I want to bring up something. When do you retire? When do you retire? Okay. When do you call it a day? If you are a professional athlete, wouldn’t you like to sit there and make tens of millions of dollars continuing to play baseball? Hey, Dan just doesn’t have what he used to have.

His fastball that was 100 is now about 80. You know what I mean? Play forever if you could. You know what I mean? But in certain positions in our lifetimes. And think about this, I met a guy who was high up at FedEx on my cruise. Don’t use my name. Don’t even say my position because they’re going to know it’s me. I can’t even use his first name, even though it’s a common first name.

Great guy. Okay. But we were talking about pilots having to retire at 65 and they want to race to 67. And this guy’s like, nah, Dan, I’m kind of against it because I’m in my late fifty s and I’ve lost motor skills. I’ve lost some of my fastball. And we all do, guys. We forget people’s names and we forget situations. And I went, where? Oh, yeah, remind me of that.

But we’re supposed to let certain politicians work until they are 110 years old. Okay, well, Janet Yellen had this Senate subcommittee that didn’t go very well. And it wasn’t really broadly advertised because they were talking about the quality of the mid level banks, which is what most of us bank at. If you understand something, that these banks, I mean, they have lent money to these commercial banks, to these commercial real estate loans, and they’re losing money hand over fist.

You’re starting to see in 2024 that these banks are having nothing but problems. They are not making money. The stock prices are falling to the floor. I want to show you guys something, too. The tide is out so far today after the storm. Look at that. Can you believe this is a surfing year? People normally surf over that. Imagine crashing into that. Ow. That would hurt. Okay, so with that being said, these commercial banks are losing money hand over fist.

Now, just want to read some of these to you. New York Community bank, we talked about last week, they’re down 60% in 2024. Valley bank down 25%. Metropolitan bank down 15%. Harbor one bank down 14%. Comerica bank down 13, Zion’s bank down twelve. Western alliance down eleven. Citizens bank down six. And Key Corp. Is down 5%. Guys, this is catastrophic. Now, this goes to the next part of this, which is unbelievable.

Now, we’ve talked about this name recognition. Businesses that we all grew up with, Xerox, go to the Xerox machine. Well, it’s a canon copier, Dan. It’s not a Xerox machine. It was a term that we used. The Xerox building just sold. Isn’t that cool? Notice you didn’t hear about it in the press. Isn’t that interesting? Well, last time the building sold, it sold for $111,000,000 in 2014. Wow.

Somebody got a deal on the building. No, the people that got a deal are the people that bought it last week for $25 million. If you have any money and you want to steal something right now, it’s commercial real estate. The Xerox building sold for $25 million. What an embarrassment that is. What an absolute shock that is. 25 million buckaroos. Come on, guys. This is crazy. Now here is the problem with these degenerates, these den of thieves that run the banks.

And I want to cover this with you because this is really disturbing. When I got this. Now, one year ago, when Silicon Valley bank went down for the count, First Republic signature bank, they came up with the bank term funding program, BTFP. And what this was, was this was something that, again, it smells like a bank run. Because one thing that happened with 2008 and the last real estate crisis was the banks were given money.

And the idea with the money that they were given was to lend it out to you and I so that it would spur business and spur the economy. But the banks are a den of thieves. They’re criminals, okay? These den of thieves went out and took it upon themselves to keep the money and not give it out and not lend it out. There is a great movie called too big to fail.

And in too big to fail, William hurt, Billy Crudup’s in it. Billy Crudup actually bathed in that one, wears a suit, great movie. It was an HBO movie. You can find it. Too big to fail. But it talks about how they put together this program. And banks were like, hey, we don’t need this money. They made every bank take this money because of the liquidity problems that were coming down the road.

So you have to take this money, you have to lend it out. And you know what they did? They didn’t lend it out. They kept it for themselves. Well, now, the bank term funding program, the last thing they did a year ago, you know what the banks did? The banks didn’t take care of themselves to solidify. They went out and bought risky investments, rolled the dice, went to Vegas, basically, and went to town on that.

Look at this, guys. Look at how crazy this is, okay? We have been here to the bottom of these stairs and see the waves crash on this before and it’s gone. But the bank term funding program was a farce because they kept the money again. And the banksters that people like to call them did that again. They did it again. And now what the Fed just said, which is the, uh oh, here comes the bank run moment that you have to get ready for, is the Fed said, you’re never going to do this test again because they look like idiots.

Because eventually this is going to have to be explained to you and I and the american people and being told that this money that was there to solidify the banks, they took care of, know, think about it. Jamie Dimon took over First Republic and just took the stuff he wanted, left everything else, the carcass of the bad stuff, the bad loans. My staff’s not going to chase that.

You’re right. They didn’t have to because he got to take whatever he wanted. So now the fed, which they gave him a one year term for it. And by the way, that was march of last year, guys, when everything went down. Well, we’re not going to extend it now, so maybe they will, but right now it looks like they’re not going to extend it. And with that happening, you’re going to see banks be in trouble.

Have additional banks, have a credit union, have a different place to get money, have cash on hand, get yourself ready for this, because if this goes down, it’s going to happen on a Friday night where they’re going to have, oh, gee, I can’t get into my atm. The chase bank situation from a week and a half ago when I went on my trip, it was like, uh oh, is this it? And that’s what you always wonder, is this it? Okay, so get yourself ready for this.

And again, this is on the menu, guys. You’re going to see nothing but problems with this. Mark my words. Okay, let me know what you think about this. I’m all ears. I cannot wait to hear what you think about this. And isn’t it beautiful after it rains out here? Stunning. How cool is that? Okay, share your thoughts on this. Let’s talk about our sponsor, morning kick. Have you ever wondered what happened to Chuck Norris? Okay.

He has been an integral figure in tv and movies for decades. Chuck Norris is in his eighty s now, and he has developed something that has made it so that he can work out longer. He’s got more energy. He sleeps better. He’s got great health. And you can get this too. If you go to chuckdefense. com Dan, you can see what this is all about. He developed a program that will completely change the way you work out.

And he says it makes him feel like he’s in his 50s again. Take a look at this today. But when somebody has the ability to work out and be in such great shape like he has, there’s something to it. And you should take a look at it. Once again, go to chuckdefense. com Dan, and see what this is all about. Take a look at it today. Even his wife has joined this and she has said that it’s made such a huge difference in her life.

But there’s a video you can watch that just made a huge difference. Take a look at it today. Use the link below. I love knowledge. I love learning more, especially business and financial news. Joseph Andolfini is one of my favorites. And there’s a local reporter here, Jonathan Lancer, who should be with a much bigger paper than the Orange county register. But this guy is amazing. And he did two great stories that are fascinating.

Want you to think about this. Orange county real estate, the region they’re talking about, the number of sales over the last 24 months is down 42%. Well, Dan, that’s because there’s no inventory. No, this is because people can’t afford the ridiculous prices for the real estate that they have right now. Okay? Two years ago, 27% of the people for a home. Now it’s down to 17%. One, 7%.

Guys. So this is catastrophic. People cannot afford to live in this area. It’s too expensive. Now. When you look at the national average for houses, it’s double the price, basically to live here. But what Jonathan brought up was such a great point because of all the numbers and how bad this is. And how it’s only getting worse. But the second story, and they’re both below that he brought up, which is absolutely fantastic, is there are basically a million houses right now that have gotten more flood damage in the last seven days in this area than they’ve ever gotten.

Thing about that is you’re going to see more people lose their homers insurance in California. Oh, you’re now in a flood area. It hasn’t rained like this in a hundred years. Well, wow. That may happen again. Yeah, not in our lifetimes. But we had so much rain in the course of a week that you had seven inches in two days. Okay, so with that being said, it is unbelievable, the devastation and anywhere you live in this country.

When I was sitting on a cruise ship, I saw these stories with the ridiculous three and four news channels that they had on the boat. So this is bad guys. But what’s going to happen is they’re looking for a reason to cancel your homeowner’s insurance. That’s what’s going to happen from this, because now you’re considered a flood risk. Okay, well, I’ve never gotten this much rain ever. Well, guess what? Tough.

Here is the thing that you’re going to see happen more and more, and I’ve had more people write about this because we talked about how Gen Xers can’t afford, millennials can’t afford their parents house, and the boomers own all the houses. That’s great. But what’s going to happen is you’re going to have people just, oh, my God, just get me some insurance for my house so I can close escrow, because the realtors, which all you care about is your commission.

Oh, I care about putting people in the home of their dreams, Dan. Ridiculous. Ridiculous. Because what’s going to happen. What’s going to happen with those lawsuits where people are forced to pay these commissions is one thing, and the other thing is that these people are not going to be able to have insurance. You get a guy like me who walks to an open house, hey, what’s the insurance premium right now? Guarantee that the rate will be the same.

Can’t do that, sir. Not a chance. Okay, have you talked to the insurance company? If they’re going to rewrite the policy for a new owner at this ridiculous sales price, who would ask that, sir? I would. Okay, so mark my words, guys, get some knowledge. Don’t be afraid to ask questions on this stuff, but you’re going to see things go upside down right now. Completely upside down. Protect yourself if you want to sell your house.

Get out of it. Now there’s a bunny. Sell your house. Guys, you think it’s time? Okay, take the deal. Get out of it. But I’m telling you right now, you’re going to see things we’ve never seen before. And this crash. Crash. Listen to Dan. He knows what he’s talking about. Guys, all I do is read the newspaper. People around the country that I met on that trip are all experiencing the same thing.

You’re seeing fast food. Places that we used to go to as a deal are so expensive around the country. If you’re in Davenport, Iowa, they’re too expensive. The fact that you have Taco Bell. Think about this. Taco Bell was expected to have a 7% rise in sales. No, it’s 4%. Catastrophic, guys. Yeah, they made a little bit more money only because the price went up. Now, what’s going to happen from here on out is they’re not going to make money because people are spending less money when they go to these places right now.

So, yeah, the fourth quarter was up a little bit. It’s not going to be like that. As we move forward. You’re going to see problems with the economy and with this fast food and with these ridiculous prices. You don’t want to go out and get a quick bite to eat and spend $25. It’s just insane. It’s nuts to do that. Okay, so let me know what you think about this.

It is amazing, the devastation that we’ve had in this area. But the big thing, the big problem that’s going to happen over the course of the next week is the hillsides, all the really nice houses on the hills that have just set there and been nothing but dried out. No problem. Remember a year ago that were sliding down the hill on Newport beach? That’s going to happen again because of all the rain we’ve had over the last week.

Now the houses are going to settle, had all this moisture, it’s going to roll down the hill. You’re going to see a lot of that stuff now. So let me know what you think about this and share your thoughts. Who do you like? Who do you like to read? Who do you like in the business community that I should follow, too? Take a look at those stories below and let me know what you think.

Yes, it’s windy out here. I don’t know of anybody who’s been more of a grinder on Elon Musk than me. Yeah, there’s haters out there who have just really poured it on, but I’ve really ridden him hard. Now, here’s one thing that’s kind of crazy, is I had no idea of a couple of things. I had no idea that he agreed to work for free if they gave him a $55 billion stock option package if he met certain requirements.

Okay, now think about this. Ten years, $55 billion. He had twelve milestones to hit, including bringing the company valuation to $650,000,000,000. He met all the milestones, guys. He met everything. Somebody sues in Delaware and says, this is unfair, it’s too much, it’s ridiculous. And I agree with Elon 100%. This is so unfair. It’s unbelievable that this happened to him. So with that being said, what’s the fair compensation for an executive? What is it? Okay.

Is it Jamie Dimon who cries like a little girl because somebody made half a million dollars more than him? So he wanted to not make the same. He wanted to be the highest banker in the industry. So he went to the board and demanded a 500. He’s getting 65 and a half million dollars a year, a $500,000 raise so that he could be the highest banker in the industry.

Okay. Snob. Do you know what I mean? It’s ridiculous. What milestones did Jamie Dimon take advantage of, other than fleecing us with things like First Republic? Now, a few more things that I want to talk about is that, did you know that there were restrictions on manufactured houses and the money that could be taken out of your house when you get a home loan? I didn’t know that.

Well, now they went to Fannie Mae and they raised it to 50%. So these people are going to be able to borrow against their manufactured homes, which will be left there when the downturn hits. So they’re going to make it. So you, hey, you can pull more cash out. Pull more cash out. Now. Do you need money? Use your mobile home as an ATM. Horrible idea, guys. Horrible idea.

So the next thing. I love this. Governor Newsom, we’re upset about the crime in Oakland. So we’re going to send 120 California highway patrol like your state trooper. Highway patrolmen are going to go Patrol Oakland because the local sheriff can’t do it and they need help because crime is rampant. You are a fool if you go to Oakland right now. You are a fool if you go there during the day, okay? Because they are breaking into cars, they are robbing people at gunpoint.

So they’re going to bring the highway patrol out there. So God love those people and good luck. Okay? Good luck. But governor, Newsom hey, I’m going to fix this. Now. How about you arrest people and you charge them with felonies for this stuff and give them, what do you call it? A jail sentence? Yeah. Oh, you robbed a guy. You’re going to get ten years. Oh, my gosh.

You know what I mean? No, can’t do that. That’s unfair. People sent me this one bitcoin because there’s a thing called having, where there’s a mathematical process where when you mine bitcoin, you’re only going to be able to get half coming up at a specific date. And they’re saying it’s going to make bitcoin go to $200,000 apiece. So do you guys believe this? The bitcoin hounds out there? Do you believe that this is going to help things like Shiba Enu, which people have talked about, which is got like four or five zeros and then a number.

It’s like really cheap. I mean, you could spend $50 and get a million or 2 million shiba enu, it’s that crazy. So let me know, guys. Let me know what you think about that. We’ve seen so much of this stuff and I just don’t know if the cryptos are going to be the golden goose that everybody thinks about. When you see these economic downturns, what is it a hedge against? What is the bitcoin and the tokens a hedge against? Tell me.

And now people are going to scream and say tokens are different than the bitcoin. So any cryptocurrency, guys, what’s it a hedge against? The fiat dollar. Okay, so when the stock market goes up, it seems like it’s going up. When it goes down, it seems like it goes down. So let us know. Let us know. I’m going to finish this video with these last two stories. And they saved the best for last.

Flying back from Florida, we had to go through Atlanta, Georgia, and it was just a quick stop. Airport’s very busy. Barely made our flight to LAX, but we made it. There is a great story out of Atlanta right now where one thing they always tell us is to invest in real estate. You don’t care where you buy it, just buy it because you can get a property manager.

In Atlanta, there are 1200 houses that have been taken over by squatters. And these squatters do not have anything to do with the house. They don’t have a rental agreement. They have nothing. They’ve just gone into vacant houses and taken them over, sell drugs, do horrible things. You can only imagine but one has even been turned into an illegal strip club, okay? And they call it Danny’s. Okay.

Which I thought was kind of ironic. I’m kidding about that part. But anyways, could you imagine this? The cops are so slow to respond. Hey, listen, what can we do about this, okay? This is a civil problem. No, it’s criminal. Okay? So you’re seeing that over and over and over again. But 1200 houses in one metropolitan area have been taken over by squatters. Guys, this is what’s wrong with the world.

This is what’s wrong when you don’t prosecute people. This is what’s wrong. And read the story below because it’s great. And it talks about that exact same thing where the police don’t do anything. When they come out, they’re slow. Slow to respond. How about this? We’ll come out in a couple of days for you. Couple of days. Okay. My house. I think I’m being robbed. Saturday. I’ll see you.

How about Tuesday? We’ll get somebody out there. Do you know what I mean? It’s lunacy. But that’s the absolute disrespect that these people have for society and for the homeowners. The homeowners have even gone as far as bribing people. Listen, if you please leave our home, we will give you money. How much? It’s kind of a cash for keys. We’re stealing your property. But, yeah, we’ll work out some financial arrangement, maybe, okay? Only to have them come back sometime, which is the worst.

Now, the best story, and the last story is this one. There is an Alabama radio station, WJLX, that not only did they steal things at the radio station, they stole the 200 foot radio tower, they stole all the equipment, all the broadcasting equipment, everything to make the radio station work, okay? Other than the license, they stole it all. So to add insult to injury, they’re an AM FM station.

They were broadcasting on AM. They could get that to work. And they couldn’t get the FM to work and contacted the FCC. Hey, we need a waiver so we can try to get this worked out. No, you guys are denied. You don’t have the proper equipment. Is that insane? Again, the bureaucracy of stupidity. And we’ll show you. You need to follow the rules and have the proper equipment to broadcast, okay? Everything was stolen.

An entire radio station was stolen, okay? What do you do with a 200 foot radio tower? Hey, have you seen Pete’s house? He’s got a radio tower there and he’s broadcasting. It’s called pirate radio. Pete’s pirate radio. It’s insane, guys. Absolutely insane. But this is what the world is coming to right now, and it’s getting more lawlessness. You need to protect yourself. You need to be ready for what’s coming.

Because what’s coming, this is going to be a picnic compared to what’s coming. Okay? That’s a terrible thing to say, dan. Okay, so meet me at Danny’s in Atlanta. Okay? And I think they spelled with an I because it’s a chick’s name. Anyways, okay. Please don’t forget to hit the like button. Please don’t forget to subscribe to the channel, read the stories below because they don’t make this stuff up.

Okay? And if you want to send me anything that’s solid gold, like any of this stuff, and this was just loaded with everything today. Please email me at hello@iallegedly. com. And I still can’t believe I have to say the. com because people go, hello at I allegedly doesn’t work. No, it doesn’t. It doesn’t work. Okay. Onward and upward, guys. Make good choices, like I tell my kids all the time.

And don’t steal people’s homes. Okay, I will see you guys very soon. .

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