Hey, it’s Dan. Welcome back. This is I allegedly. I love getting an early start in the day. We’ve been experiencing such a bad heat wave lately and it’s nice to come out here and have it be overcast like this right now before it’s just gonna get blazing within a few hours. But another bank, you know, failed a major stress test and this is a huge concern for all of us. Plus everybody’s broke right now, guys. It’s just getting so much worse right before our eyes. There’s a lot to cover. Comment.

Subscribe to the channel. Plus today we have a sponsor, Patriot Gold. I’m gonna get right into it. Goldman Sachs, which is one of the largest investment banks in the world, just passed, you know, a stress test last month and you really haven’t heard much about that. Why not? Well, you know, when they did the Dodd-Frank rules back when they had the last economic turn down, they made these rules to make sure that banks would be safe and that we would be protected. Well, Goldman Sachs just failed this stress test and they could make it so that their clients money could be at jeopardy.

This is tragic, guys. You don’t want to have yourself in any of these institutions that you don’t need to have your money in right now. Now, again, credit unions are safer but they’re not, you know, the safest place. You have to have, we all have to have a financial institution that to pay our bills and things like this. But the problem with Goldman Sachs having this problem is that, again, because of how snooty they are and because of the fact that they’re better, rich people are better than you and I, so they don’t want it so that we have to, they have to answer to us as peasants and this is what we’re experiencing.

Now, this should be very concerning for each and every one of us because you don’t want these investment banks to fail. Think about this. The money that’s been sent to shore up these banks was like five times bigger than we’ve ever did during the last bank debacle. So we haven’t even seen the downturn yet. You haven’t even seen the collapse yet. You had Janet Yellen and Jerome Powell go to Capitol Hill and say nothing. They said nothing. When they were asked about inflation, is it going to get fixed? What about interest rates? How’s the economy? Basically said nothing.

They didn’t say, oh yeah, things are in real trouble right now and we’re really concerned about this. Didn’t do that. Didn’t do that at all. Guys, it’s just, it’s good at everything. It’s strong and we have a lot of support. What it, it means nothing. It means nothing. I’m telling you, it is, it’s really weird. It’s like reasoning with an alcoholic that’s like, hey, just, I just want one more drink. Cause we don’t want the party to end. Well, it’s going to end guys. This whole thing is going to collapse.

Now this blows me away. Found a list of the safest banks in the world. And guess what? Number one is uncle Jamie diamond, JP Morgan. They say is the safest bank out there. Look at the list, make your own decisions. And again, there’s no more free checking. You’re going to eventually get charged for checking at JP Morgan. So all these benefits are going to end for everything. You’re going to start paying for everything so they can make money on all of us. So it’s that simple. They anticipate that there will be 500 banks that will fail or consolidate within the next two years.

One thing that we’ve been talking about over the course of the last couple of years is that the bank failure is going to be a real problem and you haven’t seen anything yet. So with that being said, the consolidation of mergers and, and, uh, we’re going to buy this one company, Neiman Marcus and Saks Fifth Avenue getting together. Well, we’re going to build a superstar. No, no, it’s trying to stay alive. That’s what you’re going to also see with these banks and these financial institutions is that they’re not going to be able to survive this without merging.

It’s that simple. That’s simple. Now, some more alarming news that should keep you up is that every month they give us the, uh, total debt that people accumulate. In May, we had 11.3 billion dollars that was added to personal consumer debt. Now, well, it’s just, you know, we hear these numbers, you know, is that really big? Yeah, April was 6.5 billion and that was one of the biggest months. So again, it’s going at a record clip right now and you’re seeing the money go, you know, exponentially worse. Now, here is the worst number of all of this in that you’re seeing delinquencies that are over 90 days.

It means they’re coming for you. It means that it’s a charge off. They’re going to sue you. It’s done. You don’t get to keep your credit card. It’s over. Johnny is that the highest has been in over a decade. It’s nice. You have this really rich area and you got, you’re in line with the airport. So with that being said, consumer debt is completely upside down, completely upside down. So telling you guys going in the wrong direction. Now I have individuals. I have business owners. I have subscribers talk about, you know, my wife won’t get in line with her spending.

My husband’s just buying stuff. It’s summer and he’s going to go out and buy new boat parts when we can’t afford it, but he’s going to put it on the credit cards. I’m telling you guys, stop the train right now. Just get off of it right now. Do everything you can to get yourself out of debt right now. It was the best thing I ever did in my life because they don’t owe anybody anything. Understand I can use my credit cards to pay them off at the end of the month using for business, things like that, but they don’t carry balances on the credit cards guys.

And it is a great place to be not to have car payments, not to have, you know, a boat payment, you know, jet ski payments, anything. It’s just fantastic. It is absolutely the place to be. And you should do everything you can to get yourself there. Now, easier said than done, but I am telling you this right now. Everybody that has researched anything, people that have sat there and said, Dan, wow, I am going to go out and buy. I’ve seen everything from a dump truck to boats to sporting equipment to everything that people have tried to purchase lately.

And every single one of them that has researched it has gotten a smoke and deal lately on this stuff. So are you surprised about the consumer debt? Because what’s happening is that the banks are failing. People are failing. I’ve got a lot more to cover on this stuff, but you haven’t seen anything yet, guys. Nothing. This is going to get exponentially worse before your eyes. And then just like some feeble man who doesn’t know what day it is and wants to know what time putting is, they’re going to act like, hey, wow, can you believe these banks failed like this? What a shock.

Who knew? They lied to us. Yeah, they’ve all they’ve done is lie to us. Remember that should be the title of this video. They lied again and again and again and again. Let me know what you think about this. Okay. Let’s talk about our sponsor Patriot Gold Group. Guys, there’s things in this world that are very concerning right now. Saudi Arabia, transacting in other currencies, the global de-dollarization, bricks, trying to get other people involved with them. But it points to one thing. With the instability of the dollar, you need to hedge yourself and you need to get yourself into gold.

Contact number one rated Patriot Gold today. Call them 888-330-1431 and get a free investor guide and find out about protecting yourself and hedging all of this madness with gold. They sell all types of precious metals. They have been number one rated for eight years in a row now. Contact them today. But listen, you just saw the dog and pony show with pal and yelling yesterday. It’s ridiculous. Guys, protect yourself. They don’t have your best interest at heart. You’ve got to protect yourself. Contact Patriot Gold today. If you don’t want to call, fill out the link below and you can get a free investor guide.

It’s absolutely no obligation, but call them today. 888-330-1431. Do it before it’s too late, guys. I always like coming out here early and walking on the bridge. This is Newport Dunes. And the cool thing is they have summer camp out here and you can swim out here. They’ve got the obstacle course that’s made out of the inflatables. Kind of cool. My son used to love to come out here and have me drop him off. Money well spent. But one thing that you’ve seen through time is you’ve seen, you know, let’s just call it industrial revolutions, you know, with the internet and with different things that have happened that have made people, you know, a lot of money, you know, real estate booms.

And the latest is AI. Here’s one thing that’s absolutely funny is that there’s a huge AI boom right now. And this is really helping San Francisco, because so many people in that area are in that industry, the AI industry. And one thing that is absolutely wild about this is that if you read the article below, this is not going to get fixed. It’s not going to fix the commercial real estate problem. This is going to make San Francisco a still not bring it out of being a ghost town. So many people don’t want to be there.

So many people don’t want to put their lives in their own hands. You know, the video I talked about last time, we have to have armed guards go, you know, on a delivery truck is insanity. And it’s just made it so with everybody that reached out to me, the stories that you guys have said, from, you know, people delivering Uber Eats. Now think about this, you’re doing Uber Eats, because you want to make a living, and you just want to pay your bills and get by. And you’ve got to worry about your security on a daily basis.

It’s nuts, guys. The Wild West that we’ve let happen to us, and let them lie to us the entire time. They’ve lied about the economy, they lied about everything. And you can sit there and you can tell me how all these investment banks are going to go in every house, we’re going to rent it. Maybe not. I mean this, I have had now it’s half a dozen people that are close in my life, that said, we’re making a major change, we’re going to get rid of the house, we’re going to rent families that are going to live together, a relative who’s like, you know what, I can live anywhere, I could sleep in my car, and not have to pay, you know, over $3,000 a month in rent.

Why would I want to put up with this right now? This is insanity. And I’m just gonna get out of it. Okay, so that’s where people are at right now. People are fed up with this stuff. And they’re going to quit. But the commercial real estate problem is not going to go away. It’s just about to unfold. Between now it’s gonna unfold between the election. But here’s the thing, my buddy that does foreclosures had a property that came across their company that another foreclosure company had, think about this, commercial real estate here in Southern California, in Santa Monica.

And Santa Monica, Third Street Promenade used to be such a beautiful place. It was an outdoor shopping district that was on Third Street, and it would go for almost a mile down. And you had every high end retailer, all these individual coffee shops, restaurants, places to get bagels, things like that. No, it’s a homeless encampment. It’s an awful place. And it’s a great place to go get robbed right now. It really is. You want to take your life into your own hands, go to the Third Street Promenade. I wonder if they’ll pay me to do a commercial for that.

But the last time I was there, there was a guy bathing, okay, in all his glory in the fountain, washing his hair and washing his junk. Okay, so with that being said, don’t go there. Okay, so that area right now has have a massive amount of foreclosures. And one thing he said was, Dan, I thought the number was wrong, because it was so big. They had a foreclosure with multiple properties on it, the total amount that they’re foreclosing on $674 million. Hello, hello. Now this, they posted everything. And now I was more curious about that.

Because, you know, sometimes when you have multiple properties, like there was one here in Laguna Beach, a year and a half ago, where they had $163 million, and they had 64 properties, 163 to one to 64 properties. And they had to individually post the 64 properties. So imagine you own a hair salon and somebody puts a notice on your door. And what’s that? What are you doing here? Well, your landlord’s, you know, getting foreclosed on. Oh, paying my rent. So the opening bid for this $525 million. So they were going to take $150 million pay cut at this point.

Now, that’s all we know about this. What we also know is that there were no bids, the zero bid project. Again, this bridge is cool, free guys, ride your bike, go around the lake, do all that stuff, fun stuff for summer. $525 million goes back to the bank. So what you’re going to have is, well, will they break up all those properties? Will they sell them individually? Who’s going to buy that? I know you’re gonna say Black Rock and Blackstone and Black Brothers and everybody’s going to buy that.

No, it’s it’s insanity, guys. It’s not going to happen. But what you had a tremendous amount of was the commercial space downstairs and the residential units upstairs. And think about this. You know, honey, I know we live in the second floor, but the first floor is a war zone, and you can’t park your car without, you know, a weapon. So why live here? Why do that to yourself? Why would anybody want to put themselves through this? That’s the question. So you haven’t seen anything yet, guys. It’s gonna get much, much worse before it gets better.

So show your thoughts on this stuff, guys. Tell me if I’m wrong. Tell me if I’m wrong on this stuff. Because the thing about this is that my buddy who’s in the foreclosure business, who lives in Vegas, where it was 120 degrees this week, said, I’ve never been so happy to get to 105 degree heat to post houses and posted seven houses yesterday, and going to take him to the baseball game tonight. And then tomorrow, he’s going to do a bunch of foreclosures. And there’s a every week, it gets busier.

Just a little bit, not a lot, just that much, guys. That’s all it is. Just getting a little bit busier each week, to where it’s noticeable. Wow, Dan, you’re right. It’s getting busier. Okay, you can believe your own pal that everything’s fine. They want to bankrupt us. They want us to be slaves to the banking system. Do not fall for this. Do not let yourself get to be a debt hound. Correct this right now. Get yourself out of this. Sell something and a service that has a minimal amount of expense right now.

I’m telling you guys, the people that are making the most amount of money are selling things digitally. They are selling things that don’t require 25 employees with attitudes and things like that, because nobody wants to deal with this right now. It is crazy how difficult it is, especially in this state, this state is nuts. I mean, you know, you don’t have the right type of coffee creamer and you got a lawsuit coming. You know what I mean? So it’s crazy as an employer. Let me know what you guys think so far.

I’m going to finish this video with these last couple stories and the value of gold in the economy and what it means and future gold prices. People always ask me about. I found a great article about how they paid Roman centurions back in the day. That you guys, hey, you want to become a Roman centurion, you risk your life, make sure you’re buff and we will pay you 38.56 ounces of silver, which in today’s money would be $86,500 worth of gold if you the today’s price. So is that worth it? I mean, it’s more than the military makes right now.

So it’s kind of wild that they paid people in gold and the gold value, so. Silver guys, that’s the investment. Silver right now, I truly believe in because exponentially there is not enough that’s manufactured every year to keep up with the production and with the industrial demand and the and the medical demand and everything with the EV cars. Get yourself some silver. Do that today. Final, final thing is you’re starting to see crazy things happen in the restaurant industry to lure you back. Think about this. Taco Bell Taco Bell has a program in their app called the retirement program and I’m like, oh, they’re going to give retirement to their employees.

No, this is for you to have a getaway with Taco Bell where you can do different fun things. If you’re over 21 over 21, they consider a retirement age. Okay, so I’m going to go retire at Taco Bell and kind of funny. So, you know, you get breaks. You get discounts, different shopping, things like this. Have you guys ever used any of those apps to get discounts because one thing that you see in food is you see trends like hot chicken like, you know, I’m not going to say the name of the company, but there’s a company that’s expanding around the globe right now that sells hot chicken.

Okay, it’s okay. It’s once in a while. It’s not something you go eat three times a week. Let me know what you think about the banking debacle. Let me know what you think about Goldman Sachs having a problem because they do have a problem, guys. So, kind of cool seeing this and the boating on the other side. You can launch your boat over there. It’s kind of a cool spot, but this is right by Jamboree and PCH, okay? Like, subscribe, email me at hello at iallegedly.com, but let me know, guys, does the banking situation concern you like it does me? Oh,
[tr:trw].

See more of I Allegedly on their Public Channel and the MPN I Allegedly channel.