11.3.24: LT w/ Dr. Elliott: BRICS bill introduced American Banks sitting on $750 Billion in realty | And We Know

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Summary

➡ And We Know recent Dr. Kirk Elliott interview discusses various issues, including concerns about the voting system and potential bank failures. He mentions a case where a man voted 29 times, questioning the integrity of the voting system. He also warns about a potential financial crisis, with banks sitting on $750 billion in unrealized losses, which is seven times worse than the 2008 crisis. He suggests that this could lead to massive bank failures and a significant economic downturn.
➡ The First National Bank of Lindsay failed after the government’s emergency funding for banks ran out in March 2024. This has raised concerns about the safety of other banks, especially as the FDIC is underfunded and may not be able to fully reimburse depositors in case of a bank failure. It’s important to check the stability of your bank and be aware of the risks. The BRICS nations are also close to challenging the US Dollar as the world’s reserve currency, with plans to back their currency with gold, which could have significant implications for the global economy.
➡ The article discusses the economic and political tensions between China and India, and the potential global impact. It suggests that China’s economy is struggling due to decreased global spending, and their proposed solution of injecting 10 trillion yuan into the markets could lead to inflation. The article also mentions potential political and military responses, including the possibility of nuclear war. It ends with a call for resilience and faith during these uncertain times.

 

Transcript

Folks, it’s wonderful to have Dr. Kirk Elliott with us back again. A lot of information to share. What an amazing week. You know, you can go to and we know.com forward/gold below this video in the description box. Click on there and you’ll have the same conversation I’m having with Dr. Elliott or somebody on his team. Absolutely amazing, these updates. How you doing? I’m doing awesome. How about you? Yeah, just wondering, you know, been taking out the garbage lately. Kind of thinking about, you know, what kind of, what part of the garbage we fit into recently. Seriously, it’s a good question.

You know what, I think we’ll find out on Tuesday. Where, where we all belong. Actually, we’re not going to find anything out on Tuesday. We might not know for a couple of months. Yeah. You know, it’s interesting. This voting early thing was really strange. My family members were asking me, why does he keep asking us to vote early? You know, a couple weeks ago and think I’m starting to get it now. We’re catching all these things super early. A lot of shenanigans. The big one for me was Pennsylvania when they’re shutting down the line at 1:45 and they’re telling people to go home.

And the people that are actually doing, they even look dark. They look like they’re like. To me, they just appear like they’ve got something wrong with them mentally and physically in a spiritual way. I don’t know how you saw it, but they just look demonic. I mean, that’s how I saw it too. Just like anything in this world, you know, everything that we battle is a spiritual battle. And then what we see is a physical manifestation of that spiritual battle. You can see it on bodies too, right? It’s like. Yeah. When I’ve looked at, like high school reunions, you know, for example, like 30 years ago, the people that I grew up with, 30 years ago that in high school, they were, they were the coolest ones, they were the prettiest ones, the most handsome guys, right? And then partying lifestyle, you look at them 30 years later, it’s like, man, all the nerds are looking really good.

And all these cool people in high school, the years have been hard, right? And that’s, that’s just kind of what what a partying lifestyle does to a person, right? So. So you have the same thing in the spiritual sense. Garbage in, garbage out, right? I think your, your appearance is going to reflect what’s on the inside. And I saw those videos from Bucks County, Pennsylvania. It’s like they, you’re right. They, they didn’t look good right. At all. And then. So but that’s just one microcosm of I think all the shenanigans that we’re going to see. And you know that that court case was won already.

And you know, the next morning it’s like, okay, you got to open up. But what about the dude in Detroit who voted 29 times or whatever it was? It’s like, what, how in the world is, is there any kind of accountability or honor or anything with the voting system anymore? They’re already catching if it happens once, guaranteed. In a world where there’s no guarantees, it’s happened more than once. That’s right. They didn’t just catch the only guy that voted 29 times, for crying out loud. So how do you, how do you put any confidence in any of this? Yeah, that’s right.

The voting machines that popped up that they were disappointed because they can’t do the down ballot on the machines. And then it’s acting up and like, okay, they’re catching that now. But imagine if we had all waited to the last minute. We all line up on the day that we’re supposed to vote. Everything shuts down. They cut off the line at 145 and then they get by with it again. I think it’s just brilliant that we’re doing it early, exposing everything early and, and catching these now. And so it’s been man and tremendous. And so. And you know, imagine lt, how bad it would be in this country if we weren’t technologically savvy country.

Oh yeah. I mean she’s. It’d be the worst. It’s. I mean, I can’t believe it’s this bad. It’s, it’s bonkers. Yeah. Yeah. A lot of prayer been going out there and we’re going to see what happens. We know our heavenly Father’s in charge of it all. He’s the one that places the kings over the nations. Yeah. And so we’re looking forward to seeing how this is going to play out. For sure. It’s going to be a roller coaster ride, I believe. And so speaking of roller coaster rides, we got this headline. You’ve got for us another subprime crisis in the making.

Question mark. American bank sitting on $750 billion in losses on realty debt related securities. Here are sectors most vulnerable. And so that gives you a list. So, so what’s going on here? So we can all remember 2008, 2009, how bad it was. I mean everybody who was investing back then. It was like the worst of times, right? No, best of times, just the worst of times. Markets came down like 40%. It changed the rules and how people could even get mortgages. Right. So subprime lending crisis was people were getting loans that should have never gotten loans.

Right. The banks were loosey goosey on their credit and just giving people money for anything. And so that caused the market meltdown in 09 and 10. I mean, it was just bad. It took like eight or nine years to recover from that. Well, now the banks are sitting on $750 billion of unrealized losses on their balance sheets. So what’s an unrealized loss? It means if they were to sell that house or that apartment building or office building, it, they would lose $750 billion. Right? So it’s unrealized on the books. It’s coming down and down and down and down.

The value is just shrinking. So they can’t sell that for a profit. They can only sell it for a $750 billion loss. This is seven times worse than what we saw in 2008, 2009, seven times. So I think the writing is on the wall. I think we are poised for massive bank failures. And I keep going back to what you and I have talked about the last three weeks in a row, or maybe even more when it comes to Warren Buffett, why is he dumping all the bank of America shares? Maybe this is why. Right? He knows what’s coming.

Why did Ray Dalio of Bridgewater Funds dump all of his banking stocks? Well, maybe this is why you can’t have almost a trillion dollars of unrealized losses in commercial real estate. Because here’s the thing. For commercial real estate to sell, you have to have companies that want it. To have companies that want it means they’re going to have to be profitable under Biden’s economic plan, when people aren’t working, wages are coming down, unemployment’s going up, taxes are going up, and it’s like people just aren’t spending money. There’s not going to be enough revenue to pay for any of this debt.

This is the problem moving forward. So I think we’re going to see a crisis that’s worse than 2008 and 2009, a crisis that’s significantly worse than Silicon Valley bank failing in March of last year. I mean, we’re seeing something at a magnitude of 7×7 times what happened in 2008 and 2009 is how much debt unrealized losses that these banks have on the books, My goodness. Yeah, it’s almost seems like they’re setting it up to almost make it happen. Say President Trump walks in, he wins, and then they throw this at you because the enemy gets so upset, they’ll just pop that bubble and then everything seems to fall apart.

That’s, I don’t know, it’s just weird things that I think of on that, on that line. Yeah, very interesting how that plays out. And so I wanted show this one also. The First national bank of Lindsay failure one off or sign of the times. So this bank got in trouble for cooking the books. Basically they were lying about their assets and liabilities and stuff like that. So, so what happened is they got investigated, they got shut down because they actually didn’t have enough money. They didn’t have the money that they said that they had. Well, huh.

This is why all banks shut down because they have more withdrawals than they have deposits and they ultimately shut down because they run out of money. So this is no big shocker that a small bank, bank of Lindsay, kind of ran out of money. The bigger thing to me is the story behind the story and what the ramifications of this are. So we have to go back to Silicon Valley bank to understand the full picture of what just happened here. So in that one, you know, you had four or five banks, regional banks that failed along with Silicon Valley Bank.

FDIC only had 1.17% of all deposits in America in the banking system covered. Right. So that’s not enough. I mean, forget your $250,000 threshold. Right. They only had 1.17%. So that Janet Yellen, chairwoman of the Fed puts together this plan and she said, okay, we’re going to provide stimulus to these banks, kind of emergency relief so they don’t go into FDIC default. Because FDIC didn’t have enough money to even cover like four or five more banks failing. They would have completely run out. So they provided stimulus money and that stimulus money dried up in March. It’s sunset.

So From March of 2024, there’s no more emergency funding going into the banking system. So now this is the first bank, this first bank of Lindsay is the first one that failed after the stimulus program ran out. So we go back to what Janet Yellen said after Silicon Valley and she said, too big to fail. Nah, there is no such thing. We’re going to have bail ins. We’re going to have the depositors bail out their own institutions rather than the government. So yeah, there is too big to fail from the government’s perspective, we’re simply not going to do it.

The depositors are. So that was her story, right? And then she flip flopped on that and said, well, yeah, the depositors and this one, we’ll bail them out. We’ll actually give people 100%, even more than their FDIC limit. Any money that they had in the bank will bail it out completely. It’s like this. They’re just printing money like there’s no tomorrow to stop a run on the banks. Right? They, the one thing that they couldn’t afford was a run on the banks. If one of these banks went under, then all the other people are going to say, well, that bank went under.

What about mine? And what about mine? Right? So, so that’s how quickly this can spin out of control. So during that, those proceedings, it was either a senator or a congressman from Oklahoma that asked the question, hey, Yellen, paraphrasing here obviously, but what about future banks that fail? Are you going to give them 100% of all of their deposits too? And she said, yeah, of course. Okay, that was just a lie, right? I mean, Right. She didn’t mean it. And obviously because what happened here with the bank of Lindsay, yeah, it was obvious she was lying because this is a small bank lt, this is a rural town, small bank, not a lot of assets went under.

How much money do you think the depositors got back? Was it 100% like Silicon Valley? Nope, 50%. So they only got 50% back and it’s a small dinky bank. So to me the underlying message is, yikes, what if it is a bigger bank? FDIC is so much underfunded that even on this one they didn’t bail them out completely like they did before. People only got half. So the point of all of this story is if you have money in the bank, you have money in your brokerage account, you better be very, very cognizant of how safe and stable that financial institution is because it could go under.

And what I would look at, I would look at their balance sheet. You can go to weissratings.com and look up banks and type in your bank name. See how much commercial real estate they have, see how many residential real estate, unsecured credit card debt, right? There’s not an awful lot of sectors right now that you look at and say, well, that’s probably pretty safe. No, I wouldn’t call credit card debt a safe investment. People are just going to default if interest rates get too high. Commercial real estate, obviously not residential real estate. When People’s wages are down, inflation is persisting, the cost of borrowing is going up.

That doesn’t sound good. Right, well, what about equities? The stock market’s a function of people spending money, right? So if people don’t have money to spend, well, then the stock market could come down. You look at all of this, it’s like there is nothing good happening in the economy right now. And which is why I think this bank of Lindsay, First national bank of Lindsay is going to be the first of many, many failures. And they already tip their hat. They tip their hat as to people aren’t going to get 100% of their money. So you better be careful what banks you have your money in.

That’s right. That’s right. Need to check into that. That’s for sure. Man, that’s some dangerous stuff, especially for those that have just all their money probably in one particular bank, hoping that it stays open. Man, that’s just, you know, speaking of banks and money, you had this other, this other deal that popped up and he shared with me, the Russian President Putin is gifted a mockup of the bricks bill at the brick Summit in Kazan. And I think. You want me to show this, right? This one right here? Yeah, I mean, so, so here’s. There’s something really weird about this BRICS unit of currency, whatever you want to call it.

The back of it, where you have the flags on the left, there’s the green one with the red circle and the yellow star in it, and then there’s one right underneath it, red with green. Those countries aren’t part of brics. Oh, wow. So it’s like, why are they there? Why is Bangladesh flag on this thing, on this currency unit? I don’t know. And I haven’t looked at the other ones. I just noticed that one. It’s like, interesting. But the point that I wanted to bring up on this is BRICS is getting really close to usurping the US Dollars, the world’s reserve currency.

Right. They’ve got the manufacturing might. They’ve now got added 13 countries on their BRICS meeting in Kazan. Thirteen, right. So, so you look at the BRICS nations are green or a shade of green, and the G7 nations are blue. You have, you have us, Canada and some of Europe. That’s it. Look at the BRICS nations. Yeah. Way bigger, way more powerful, you know, aggregate with these numbers and the size of the economies aggregately and the number of natural resources and the amount that they produce. And I mean, it’s a big trading bloc. One to be very, very concerned about.

Well, to me, when you look at that BRICS currency unit that Putin was gifted, the backstory to that is this is going to be like the euro. Right. It’s a basket of currencies, which is why they have all these flags on it. So all of the flags of the BRICS nations, you know, those countries, they’re going to have this weighted proportional amount as a basket of currencies, kind of like the euro. Well, that’s not the whole thing that they’re backing this with. That’s only 60% of the value of this BRICS unit. 40% of the value of the BRICS unit is gold.

They’re actually going to back their currency with gold, which to me is like this dangling carrot, this shiny thing out there, and people are going to want. It’s like I want a currency that’s backed by gold and all else being equal. So do I. Unless it’s a BRICS currency. Right, right, right. So, because once you go into that door, like we talked about, I think it was last week, the BRICS payment system, you know, all financial transactions settling through Shanghai, not what I would call a very privacy oriented thing for Americans. Right. It’s like you really trust that your money, that your spending habits are going to be held private when they all clear through China.

You joking? I mean, pipe dream. It’s not going to happen. So we need to avoid this at all costs. But we’re not. Biden is doing. It’s almost like he’s working with Putin to destroy the dollar. And I hate to say it because his policies are so bad. Putin’s got to be sitting there thinking, wow, I can’t believe this is happening. I better pinch myself and see if this is real. Yeah. Because I don’t even have to work hard to destroy the dollar when. When the President of the United States is doing a horrible job already printing money and causing the rest of the world to, to not trust us.

And I mean, it’s just so bad. It’s bad. So, yeah, you know, it’s interesting you mentioned Biden. That kind of. It seems like he’s sabotaging all kinds of things. He gave that speech, we were talking about garbage earlier. He actually turned on his laptop and started hitting the record button live while Kamala was giving her speech at the same time. So it just seems like the guy’s doing all he can to destroy everything around him. It’s just really strange to watch. It really is. I wanted to get to it, to the other country that was placed on the headlines for us.

China planning 10 trillion won in extra debt for fiscal stimulus. That’s oil commodities rebound too. So what, what’s going on with that? Well, so you think about it, 10 trillion yuan, I don’t care how you look at it, that’s like got to be the biggest stimulus in the history of the world, right? And so, so when you consider what’s happening in the BRICS nations right now, India doesn’t trust China. Well, they’re both part of brics. Yeah, they don’t trust China because China lies about their numbers all the time. They’re, they’re, they have a bully pulpit, so to speak.

You know, they force compliance through might and India having, you know, a similar sized population. But, but the president of India thinks that citizens are way smarter than Chinese citizens. Right? And so, so they don’t really like this financial pact that’s going on and so they’re not in huge support of it. Right. But because they want to be the big kid on the block and already China is the big kid on the block. And so, so you’ve got in infighting within the BRICS nations, right? But it’s still going to, it’s still going to be just fine for them, right? They’re going to, they’re going to get things cooking.

They’ll ultimately agree to disagree if they need to, but they just added 13 more countries into the mix. But the reason China’s economy is so south is because they’re the manufacturing superpower of the world. Have been for decades. Well, since COVID most of the world isn’t buying things. They’re not. We’ve got too much debt, too much interest rates, too much margin being reduced on people’s bottom line and they’re just not spending any money. So the Chinese economy is tanking, which is why I believe they brought up the BRICS pay system to try to get all money flow going through Shanghai because they can use the float on those funds.

Right. But now they’re going to inject the 10 trillion yuan instead stimulus into the markets. Well, inflation. Lt is not rising prices. They hate to burst people’s bubble. That’s not inflation. That’s a symptom of inflation. Right. Inflation is nothing more than an increased money supply. Right. Because the more money you print, the more it’s devalued. It takes more of that junk currency to buy goods and services and that actually is inflation when it takes more of that currency to buy things. So what this is going to do in China, it’s going to create massive inflation. And any component pieces that we might use in any other part of the world, in North America and Europe that might have circuit boards or something from China, that manufacturing cost, that production cost from the producers is going to go up because of these inflationary pressures in China, and it will cause a global inflationary cycle.

It just will. So, so I think this is a sure sign that inflation is ahead. When, when the, when the second largest economy in the world decides we’re going to do a 10 trillion, you want stimulus, it’s like, oh, my goodness, we’re toast, right? We’re toast because the world is so interconnected with international trade and things like that. So imagine what happens to China. And I don’t think the results are going to be good politically, socially, economically. When Trump wins and he decides, I’m getting rid of the personal income taxes in America and I’m going to put tariffs on foreign goods, especially China’s.

Right. Iran. So that’s going to cause Chinese prices on any of their stuff coming into America go through this ceiling and nobody’s going to buy them. And that’s going to accelerate the demise of China, which is exactly Trump’s plan. Right. So, so imagine what’s going to happen to China when they actually have no money coming in. What are they going to do politically? What are they going to do with their military? Why is the premier of China talking about getting their troops ready for nuclear war? Why did Putin, you know, midweek, like on Wednesday, talk about getting readying up his troops for nuclear war? Why are these precedents and premiers, a big massive countries starting to talk about nuclear war? What are they preparing us for? Is it, is it Israel against the other countries in the Middle East? I don’t know.

Is North Korea gonna. Gonna really ally itself up with. With Russia and attack Ukraine in nuclear, you know, basically possibilities? It’s like, I don’t know. But, but you’ve got two massive global leaders starting to ready their armies for nuclear war. And this is, this is like right out of Revelation, Battle of Gog and Magog or something. I mean, this is, this is like wild stuff. Yeah, yeah. Did you hear, I don’t know if you watched the Joe Rogan podcast with President Trump. Did you watch that at all? I watched part of it. It was. I haven’t had time to watch full three hours, but the parts I watched were like one of the best interviews I’ve heard.

Yeah, yeah. The end. President Trump mentions it seems like all the nations are gonna. It’s like the end times, it’s all the nations are going to go against Israel or something like that. He. He kind of just said it real quick and wow. And they moved on. It was just a strange thing. Just to mention it’s near the very end of the interview, so if you watch the whole thing, you’ll catch that. It’s just really weird that he would bring that up knowing, you know, with all the knowledge that he has of. Of the world and how things play out.

I mean, he even has the ability to say, I’m going to stop the war there immediately when I become president. So, yeah, it’s a lot, A lot of strange things going on this week. Is. Is definitely filled with a lot of tension. Just a few days, we’re going to know a lot more. But like you said, it could be a few weeks before anything plays out. But. And in the meantime, we still have to live. We still have to, you know, use our debit cards, use our money to go shopping and get the food and essentials that we need to live.

And it’s just a strange time for all of us. The tension is definitely felt and we just hope that everybody stays really strong through all this. And they remember that precious metals are very important, especially when you’ve got these. This chaos happening around the Earth, especially in our banking system. You know, it’s common. And this is where we have to have discernment, we have to have wisdom, we have to have creativity to navigate through this minefield, right? You’re gonna have politicians that are talking, and pretty much all of them, when their lips are moving, it means that they’re lying, right? It’s like, my word, what are we gonna do? What are we gonna do? Well, don’t fret.

Don’t stick your head in the sand. Don’t operate out of fear. You know, there’s been all kinds of times through history where I’m sure people thought, well, look at, look at the Caesars and what they’re doing to the Christians. Look at Nero, look at what pharaohs are doing to the Israelites, right? I mean, there’s times in history when God’s people and his kids were being persecuted and didn’t know what to do and thought the end of the world was coming. And it’s like, well, did. Did God always shine through? Yes, he always does. He always brings us protection.

He always pulls us out of the desert, right? He leads us out of captivity. We just have to seek Him. And when we seek him and seek him with our whole heart, surely we will Find him. Right. And I think that’s what we have to strive for in these perilous times we’re living in. Amen. Amen. Folks, you can go to amwinode.comgold in the description box below. You know, you can reach out to Dr. Kirk Elliot. They also have a phone number. What’s that number again? 720-605-3900. Awesome. Yeah, just make that phone call, folks. You’re going to be connected and they’ll even pray with you also, if you need it.

During these definitely trying times this week, we definitely all are going to be in prayer. A lot of fasting going on this week for sure. And man, we just really appreciate you, Dr. Kirk Elliott, all that you provide, the resources, the, the, the information and also the prayers. It’s just been phenomenal. So I’d like to end in prayer if you like. Yeah, let’s do that. Heavenly Father, thank you so much for what you’re doing with Dr. Kirk Elliott and his team, especially during these strange, awkward times around this earth. These updates are so important for all of us, and we just know and realize that without you, we can do absolutely nothing.

So if you would continue to protect his company each second of every day, all that they’re doing to provide resources and help and just give them clarity of mind and strength to continue to move on each day for each and every one of us. We ask all this in the name of your son, Jesus Christ our Savior. Amen and amen. Thank you so much, brother. We’re looking forward to the next update and we’ll know more next week on We Will Laying Out. Have a good one, brother.
[tr:tra].

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