Bank Failures Incoming – What You MUST Know Now!
Summary
➡ The text discusses the importance of being cautious with transactions, as there are many scams involving counterfeit money. It also highlights the increasing reliance on credit cards by business owners, which can lead to high interest rates and debt. The text advises living a frugal life to avoid financial difficulties. It also mentions a new obesity shot being developed by Amgen, a rival company criticizing Peloton, and Aldi lowering prices on popular products.
Transcript
And they’re also responsible for the health of financial institutions and making sure they’re healthy. Now here’s the worst part about this. There is a list that comes out basically monthly of the status of banks. And they have a big report every quarter on this. But you and I can’t know about this. We’re not supposed to see this. And when you think about this, there are thousands of banks in the United States, independent, and every country has this rating company that makes sure that they’re insured and make sure that they can guarantee deposits. But there is a company called Fitch ratings.
Fitch. Fitch. And they rate the banks on their healthiness. Their health. Basically people sitting there redoing a house right in the water and they do a stress test. And what this is is deposits to loans, to bad loans, to growth, a little bit of everything. It is anticipated that there are 282 banks currently right now that are, quote, stressed. Right now. Stressed. Okay, well, Dan, what does that mean? Okay. It means that they are in jeopardy of potentially going out of business. Now some of these banks only have $10 billion in assets. So if you have a smaller bank, I generally like smaller banks because you can ask questions if you go to a credit union.
Nothing is like Greg Mannerio said the other day, nothing is perfect. Nothing is 100% safe. But they are safer. Safer. Okay. And everybody, if you follow this channel for a few months, you should go out and you should have yourself multiple bank accounts. Okay? And I’ve had people over the course of the last week write me and say, hey, Dan, I went and verified all my credit lines, my spending limits. I got two of them raised at different banks. Some people said that they went to Chase bank. Chase bank is not budging. You can get $1,000 out of the atmosphere.
You can get $500 after hours and you can have, I’ve had 1000, 2000 and $3,000 spending limits. Some people have higher. I have higher. You know, you can get it by asking, but you need to protect yourself with this. Now, what does this mean right now? They’re lying to us, guys. They’re telling us a story right now. And you need to protect yourself for this, because the problem with this is that Denise, okay. Sent me a bunch of stuff. And the problem with this is that this has been going on, these lies for two years now.
A year ago, when Silicon Valley bank and First Republic went down and signature bank went down, well, we put the problem to bed. They didn’t. They didn’t. They just put a bandage on this thing, and it’s bleeding profusely. That’s the problem. You have days in the stock market, like yesterday, and everybody sits down and says everything’s great. These guys floating little barges that these guys make. This guy. This is the area where the migrants showed up yesterday on a boat and just took off. Okay, Newport beach, guys. Isn’t that nice? Isn’t that nice? So they just showed up, took, rented a boat, got here, and walked out unmolested, no questions asked.
You know, remember, guys, I walked into an IHOP, and they asked me if I was vaccinated. I couldn’t eat pancakes because of that. But you’ve got 9 million people that walked in this country, okay. In the last couple years. So tell me. Explain that to me. I digress. Anyways, the banks are. Are in real trouble. Denise has given me a ton of ammo and a ton of different stories that I want to share with you. And she broke them down per month. But the one that I really wanted to share was Truest bank, which for some reason, we don’t have truest bank here on the west coast, but we have tons of.
You have tons of commercials about truest bank from everywhere, from, oh, the banker was the great to the kid playing baseball, and they’re just shoved down our throat every day on the financial channels and stage coaches. Anyways, anyways, okay, the point is, Truest bank had a downgrade earlier this year, and there’s a great story about that. Okay, the point is, of all this is that. Look at the banking, guys. Look at your banks. Take this seriously. Have multiple bank accounts. You have to have a bank. If you are on a fixed income, make sure that you have some money out of your bank.
If you have under $250,000. They are assuring us that they’re going to be solid to pay us off in the event of a bank failure. There’s going to be bank failures. And what they’re going to do with people that have businesses and multiple bank accounts is this thing called a bank bail in where they’re going to give you stock in the financial institution. I know you have $185,000 in the bank. What we’re going to do is we’re going to give you $100,000 in stock and give you $85,000 in cash. I don’t want the stock. Well, that’s what you’re going to get.
It’s basically a bail in, guys, they’ve done it in other countries, they’re going to do it here. Okay? And you can sit there and say, oh, Dan, you’re out of your mind. The banks are safe, everything’s good. It’s not. Guys, you need to take this seriously, okay? But read the CNBC story below about these ratings. And hey, listen, it’s not time to panic yet, okay? Please understand this. You can sit there and look at days like yesterday in the stock market and say everything is great when they are not. Okay? The Fed is the one buying the debt right now.
You think that there’s some mystery buyer buying or ten year bonds right now and having them drop, you know, just profuse, I mean, it’s just bleeding. They’re going down so much. How is that? Because the Fed is buying the ten year bonds. So a lot more to cover. I’ll get into it. Okay. Let’s talk about our sponsor, doctor Amy. You know, we live in a world with more medical advances than ever, but why are so many people so unhealthy? Doctor Amy is a board certified physician who is a natural nutritionalist and she has come up with three harmful foods that people eat that people think are health foods and they’re really not.
In fact, three of these foods are banned in other countries right now. If you go to the website threeharmfulfoods.com forward slash Dan, you will see what doctor Amy’s put together now. Again, your gut health, your joint pain, you know, your bloatedness, everything that you’re going through right now is something that people think, oh, it’s just part of getting older. No, you can do something about that. And doctor Amy has got this solution for you and you can reverse these bad things that we’ve got going on with us. Go to threeharmfulfoods.com forward slash Dan. Check it out today and get yourself healthier.
Sometimes I don’t give people the credit that they deserve. You know, Doctor Marvin, dawn and Denise, I’m telling you, Denise did an essay for us and she put together some amazing stories on the instability of these financial institutions right now and went month by month by month. And I’m going to share all these links with you below. But she is right about something in this whole thing. And that is there have been 567 banks that have failed in the last 20 years. And you know, you’re supposed to not worry about this, but we are on a death watch with these banks right now.
We’re being told that everything is good right now with the stock market. And it’s a look over here scenario. Okay? And then you get a company like aerospace Solutions, which she sent me this story also, aerospace solution in Tennessee is laying up, no big deal. 1700 more people in June. What? Okay, so they’re done. Okay. Finished cutting 1700 people rue 21. Rue 21. A Pennsylvania retailer with 543 stores at their peak. Ten years ago, they had a thousand stores. Well, they just filed bankruptcy and they’re gonna lose 543 stores. How many people are losing their job? Let’s say another two people work at each of those stores.
But, you know, it’s more. It’s another 1100 people, guys. Okay, what are you gonna do? Everything is good. Don’t worry about it. I am telling you this right now. When the economy goes bad, you see people get crazier. Okay? And somebody sent me a story about how people are using counterfeit $100 bills to go to flea markets and garage sales, which is terrible. Oh, yeah. I’ll take this. Well, let me see your cash. Here’s the other thing, guys, is that you have to be on the lookout for stuff like this. As ridiculous as it seems. Look at the cash that you get from people, okay? And if you ever are in a transaction with somebody, here’s the simplest thing people do is people bring out the cash, let you look at it and say, okay, yeah, that’s 800 real dollar bills.
Okay? And you put it. They put it in their pocket. You know, I’m not gonna. I don’t think I’m gonna do it. Guy puts it in his pocket and then you say, eh. And then he goes, you know what? I will do it. Pulls the other money out of the pocket loaded with the counterfeit bills. Okay. Always check for things like that because their people are unscrupulous and they’re doing this left and right right now, but there are massive amounts of layoffs and. Okay, it’s just. Okay, it’s happening, guys. Happening right before our eyes. Plus, again, this is the area where people hopped off the boat.
You saw it all over the news. You guys have sent it to me over a dozen times, but this is it. Okay. It’s lovely. Okay. Let me know what you think so far. Here’s a good story. Toyota is investing $1.3 billion in Indiana to build a battery plant. Okay, that’s cool. 340 new jobs. Oh, Dan, you never have any good news. Well, that’s good news. People in Indiana are going to have jobs. 340 good wages, good jobs. Dan sent me a great story which leads into the next story, and that is that he got his new synchrony credit card statement.
And, hey, we upped your interest rate and want you to know what it is. 34.99%. Hello. 34.99%. Wow. Okay. Now, this leads to another story, and that is during desperate times, people go out and they borrow money at a much faster pace. Okay. And what you’re seeing right now is that these people that own businesses are hitting the credit cards more than ever. It’s up almost 20% since 2019. Some of these people can’t get conventional loans. They can’t get conventional lines of credit. So what do they do? They hit the credit cards to fund the business.
I’ve done this, guys, okay? And I’ve had times when I’ve rolled the dice and it’s worked and I’ve had times when, oh, yes, they’re not going to pay us on time, and then you’re stuck holding the credit card statement and paying and having that high interest rate. Ah. But I’ll fix it next month. And then next month may or may not come around. Point is that so many people are trying to convince themselves that things are not good. Things are good and they’re going to fix themselves. If you take the different attitude that you need to get your finances in order and you need to not be a dead hound, okay, then it’s going to be much easier for you.
You’ve got to look at things as if this is as good as it’s going to get. And if you have this mentality, this is where that guy builds the sans sculptures every week, comes out here and gets a crowd. If you look at this financially and you understand that things may not get better, then you’re in a much better spot. You’re real. Okay. But just don’t think borrowing money is going to get yourself out of debt because you can’t borrow yourself out of debt. You can’t borrow yourself to prosperity. Oh, well, Dan, that’s how you buy houses.
Grant cardone. Yeah, of course, I understand you need loans for real estate. I’m talking about loans to pay your bills because more people are doing this right now and it is a dead end street. People are borrowing money at a record pace to survive, then they can’t pay it. Okay? The greatest thing that people tell me is this will never happen. I will never lose my job. I am at this level of this company. I have a friend of mine who is a bigwig at a connectivity company. They do cabling and things like that. They’ve had entire industries he’s told me, that are dead cell phone towers.
Not building cell phone towers right now. Guys, this was 30% of their business, non existent right now. No new plans, huh? What are you talking about? So you don’t know what’s going to get eliminated right now, but what you can do is cut your costs back in everything. Live a more frugal life. It’s not punishment, guys. It’s the way to get by so you don’t lose everything. Let me know what you think. I’m going to finish this video with these last few stories and get ready for the obesity drug wars. You know, Amgen, the drug company, just announced that they are working on an obesity shot.
Their pills were not that successful, but the obesity shot is promising. So this is the hot new thing in healthcare right now. You don’t want to work out. You don’t want to get your finances in order, but too difficult. You want the million dollar pill. You want to be able to take something that’s going to get you rich overnight. Well, you want to do the same thing with your health, okay? Because people are. What’s that word? Lazy. Okay, so I love stories like this next one. There is a guy that is writing the CEO of Peloton and sending him notes, telling him how what a failure he is.
Louletin runs a company called Echelon, which is just like Peloton. It’s a peloton copy where they do the classes and all that stuff and have a bike. And he’s like, hey, listen, we run a better company. Tighter, less debt, less employees. And I could turn that place around quicker than you could. I mean, it’s a joke. What you’ve done is an absolute disaster. The fact that this guy said this is absolutely crazy and said it out loud. Okay, so next thing is the job numbers. Remember the jobs report came out yesterday and everything’s great, okay? But again, the stock market should have dropped 5000 points with this horrible news.
They anticipated that in April that we were going to add 240,000 jobs. Great. All is well, right? Only problem was they added 175,000 jobs and they weren’t good jobs. The point is, is that it’s not, the economy is not killing it right now. So 175,000 jobs are added. And this should have been the death nail in the stock market. But no, no, no, sh, it’s all good. The Fed’s just gonna step in and put their foot to the pedal like a Greg Mannarino drag race. Okay, so this guy’s cutting. I’m gonna make a U turn. So final, final story.
And you guys never have good news, Dan. It’s all gloom and doom, mister Gloom. And by the way, see how gloomy it is out here today? Hey, how are you, man? So final, final story, which is good news. And that is, think about this, Aldi, the discount store says, you know, we’re really sorry that people are having such a difficult time on 250 of our most popular products, going to lower the price. So they lowered the price on 250 products. And you’ll see it in the next week to two be reflected inside the stores. Now that is good news, guys.
Okay, so please don’t forget to hit the like button. Please don’t forget to subscribe to the channel. You want to get a hold of me. And again, always to the stellar crew. You know, doctor Marvin, don’t today, really, Denise, Doctor Marvin sent me a bunch of good stuff that I talked about today. But Denise really did her homework. And I’m going to add all these things down below, story after story if you’re concerned about the banking stuff. And she did a beautiful timeline on this and I’m just going to copy and paste and put this in the video description below.
So check it out. Okay. You want to get a hold of me? Hellogedly.com onward and upward. We have so many cool announcements coming out very soon. Can’t wait to share them with you guys. I’ll see you guys very soon..
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