Banks Are Stashing Cash for a Crisis? | I Allegedly

Hey, it’s Dan. Welcome back. Sigh allegedly. And I’ve got a good one for you guys today. Nice beautiful boat. There’s a lot to cover today. First things first, banks are bracing for massive losses right now. And with these massive losses, they are stacking cash. And they really didn’t advertise it. And I’ve got some great, great figures to share with you. Please like, subscribe, comment on the video. Let me know what you think about this. But remember, everything’s great. Everything’s perfect. And today we have a sponsor, Patriot Gold. We’ll talk about them. Sigh. First things first, guys.

Banks right now are preparing for you not to pay. It is that simple. They are stacking cash at a record pace. They’ve never done it this, they’ve never stacked this much. They’ve never protected themselves this much. And it’s a huge, huge thing. I’m in Newport Beach off of 28th and Lafayette. I love this. This is the boat storage area where you can have your boat. Instead of having it in the water, you can have it dry docked. And then they use a crane to lift it and put it in the water when you want to use your boat.

Which, if there’s an earthquake, I would be the first one to come down here and see what this looks like afterwards. But that’s just me. But anyways, beautiful morning. Think about this, guys. You’ve got banks that know that you’re not going to pay. And in the second quarter, these figures were just announced. And this is unbelievable. The main banks, Bank of America, Wells Fargo, JP Morgan, and Citibank. The four big ones. This is not counting everybody else, all the smaller banks. Just the big banks of getting themselves ready for this. Think about these figures, okay? JP Morgan, $3 billion, $3.05 billion they’ve socked away.

Bank of America, $1.5 billion. And Wells Fargo, $1.24 billion. Now, here’s the one that is just absolutely mind-blowing. And this is a figure that I had to make sure to research twice to make sure that this wasn’t an error. And Citigroup has put together $21.8 billion for you deadbeats not paying your credit card bills. That is unbelievable, guys. That is such a huge figure because of the charge-off and the losses and everything that’s coming. They’re stacking cash. Now, Citibank’s under a big readjustment with the entire company. They’re revamping everything. They’re laying employees off, tens of thousands of people, and they’re cutting everything back for cost savings.

These condos here were built a few years back, and they sell for millions of dollars so that you can live in the water there. I think it’s insane, guys, because the parking down here is horrendous at times like this. So people spend their money how they want. But $21.8 billion. Jane Fraser is the new CEO, and she’s cutting everything right now. But this should be the sign of how bad things are right now, and this should warn you that the economy is not good. And I’m telling you, I don’t know what it is right now, but I’ve had four friends reach out in the last few days that have said, hey, hey, can we talk? I really want to talk to you.

I want to get my finances in order. And I just said, you know, guys, when we sit down, if you want to do this, okay, if you want to have these conversations, I’m not going to judge you. I’m not going to say anything. But don’t BS me, and don’t lie and say, you know, I owe $10,000 when you owe $30,000. Okay? Don’t on your credit cards, that is. Just tell me the truth, and let’s see if we can work a plan with you doing it with the money that you come in every month.

And here’s the thing. When people cut back and try to get themselves out of problems like that, I mean, guys, it’s staggering. It really is. You’ve got to cut back. You have to make huge changes when you do this. And a lot of people don’t want to do that. A lot of people don’t want to cut back and don’t want to be the ones to, you know, curb their spending or not go out. And it’s time, guys. This is it, man. I’m telling you, with everything that’s coming down right now, things just don’t look good.

A few other things. This made national news. I have a friend that lives in Las Vegas, comes and works in Orange County every other week. She couldn’t go back to Las Vegas this morning because there was a truck that fell over, got into an accident, but it was carrying lithium batteries. And the truck scraped on the ground and one of the lithium batteries caught on fire, which caught everything else on fire, and they were worried about an explosion. Think about this. You guys drive these EV cars. This should be very, very concerning that they shut down the entire freeway.

For those of you, read the story below, that don’t know this. The 15 freeway between Barstow and Baker is completely closed, and people are stuck there sitting in their cars, waiting to get by, and it is absolutely insane. There’s no direction. But you can get to Vegas. You’ve got to take the 40. So that adds, from Orange County, an hour and a half to your drive, if there’s no traffic. The problem with it is if you look at a map, the traffic is so bad right now, going in that direction, and you have two-lane highways and all these terrible things you have to drive on, and it makes it so it’s incredibly unsafe.

And, of course, there’s been accidents, and the delay on that now is four and five hours long. So what do you guys think about this stuff? I mean, the EV cars, you know, I’ve not made it, you know, a secret as far as how I feel about these things, but the fact that you park these things in your garage and they’re that unsafe that if they catch on fire, it’s such a tremendous amount of water and such a problem, and nobody wants to look at this. So let me know what you think about this, okay? Because this is crazy.

The economy is bad. The bank stacking cash like this is an unbelievable figure that we all have to look at, and you shouldn’t shy away from this and act like, oh, this is no big deal. It is a big deal. It’s a huge deal right now. And did you know it was that bad? Let me know. Let’s talk about our sponsor, Patriot Gold Group. Man, oh, man, I am getting so many stories sent to me about people purchasing gold, and gold has hit some record highs lately, and people are accumulating in silver at such a rapid pace.

The best place to call, the best place to buy this is Patriot Gold Group. Call them today, 888-330-1431. You know, they also have IRAs that have no fees. They have 401ks that can be backed by physical metals, but they sell all types of metals. They’re number one rated for eight years in a row. That says something, guys. Their customer service is absolutely top-notch. They’re a great company, but call them today. If you’re not sure about metals, it’s very easy to purchase, and they are the company to do it. They can either store the metals for you, and you can have them shipped directly to you.

I am not only a spokesman, I’m a client of theirs, and I love their customer service, but call them. They will send you a free investor guide also, 888-330-1431. The craziness that’s going on right now is going to continue. Protect yourself today, and contact Patriot Gold before it’s too late. A few things in the news to talk about. You know Boeing, that fantastic airplane builder, they sent two astronauts to space to go to the space station. They have nothing but problems right now, and they stuck up there for 49 days.

They’re supposed to be there for eight days. That’s it, eight days, and now they’re up there for 49 days, and they’ve got weeks until they can come back down. Man, that’s the place I want to be, but again, no one’s talking about this. This is absolutely embarrassing that Boeing is doing this. Once again, 28th Street, you go that way, you’re going to go towards the pier, and then down here it turns into Lafayette, right here, right here. It takes you to lead a while, and you’ve got that whole shop and stuff up there, Nobu and all that crazy stuff over there.

Anyways, this is nuts, guys. This is nuts at these two guys. I hope they make it back. I mean, that’s how bad this is. Last week, I talked about the ride that was taken over by the homeless people, and I’d like to think I was responsible for this. No, it wasn’t. The cops did everybody and kicked them out. How about that? And, man, I just… It’s about time, but, you know, here in California, they start talking about how they’re going to clean up the homeless encampments, and they went to Venice Beach yesterday and started kicking people out.

Isn’t that kind of interesting, the timing of all that? Yeah, yeah, yeah, yeah. I agree with you. Now, the next thing, two disturbing things that happened. Number one, in Canada, the largest fruit tree supplier in all of Canada, the company’s been open 88 years. 88 years, BC Tree Fruits is the name of the company. They produce fruit trees for the growers. Now, so nobody’s buying fruit. They said that they’re going to file bankruptcy and liquidate because there’s no market for this right now, and that there’s been such a problem with fruit production.

Well, get ready, guys. Get ready for your apples to go through the frickin’ roof right now if this company does, in fact, go bankrupt. So they’re not even going to try to save the company. They’re not going to try to do a Chapter 11. They’re just going to liquidate and be done with it. So that’s disturbing. Now, the next thing is personal consumption expenditure. They’re out of your hair. They got this blocked off just because they’re doing a new fence here so you can’t hop over, and they’re working on the dock here. So they’re going to have new access to this.

But again, personal consumption expenditure, it went up one-tenth of one percent. And again, the market was giddy on Friday. Everything was great. But guys, this is disturbing. This is absolutely staggering figures right now that you have to look at. And you have to look at a few things that Charles Payne was talking about. Real spending is down. People are spending less money out there. They’re not buying fruit trees. They’re not going out to dinner. You know, it is crazy. They’re not traveling as much. Ticket prices are higher, so airlines are making more money, but they’re not doing well right now.

Incomes are down, and let’s face it, inflation’s up, your incomes are down. I know so many people who are getting there, hey, there’s no overtime. There’s no extras. There’s not going to be an extra vacation pay. There’s nothing extra right now. And then savings have plummeted during the course of the last two years, and people just have nothing socked away. So many people are living in the credit cards not to get by. But think about this other stat that’s absolutely staggering, and I’m working on this one, and that is people are selling assets right now, selling their boats, their cars, their, you know, things they have of value, golf clubs, things like that, just things in their homes to pay their bills.

Not to, wow, I want to get rid of this car payment. No, I want to sell this so I can put the money someplace else. That is a horrible way to live, guys. But this is what’s happening. They’re not making enough money with their income, and this is what they’re doing right now. They just ripped this building down. They’re going to build something, man. But again, I’m not a fan of this area. It just doesn’t. Parking’s horrible, and it’s, you know, just very, very expensive over here. But you can say you’re on the water, Dan.

But again, this is the dead end I talked about up here by the cannery. So, you know, let me know what you think about this. Do you know anybody that’s doing this? And again, I believe in getting rid of your stuff. I believe in getting rid of your stuff, but get rid of your stuff and save the money. And I’ve had so many people in the last 24 hours in the last video write me and say, you know, Dan, I’m debt free, and I paid off all my bills, and it’s a great way to live, and I couldn’t agree more with you.

That’s the cannery restaurant. And then this is one of their side patios that, like, if you had a big party, they would even open up this side to you over here. But just a neat area. But again, you’re seeing all these problems right now with people that are not getting by. Here’s that dead end I talked about. You can see that. So the boats come down here, and they have to do a U-turn right here. Across the street, I think it’s a much better restaurant, Blue Water Grill, which I really like.

And just a great, great spot out here. So again, great place to walk, peace of mind. I like bringing my internet out to places like this and pulling up a chair and using it and just having the peace of mind out here. But let me know. Let me know what you guys think about this stuff, and a lot more is coming in the negative direction, guys. Let me know. I hear that all the time. Now, this is a beautiful spot. If you continue down this area that takes you right into the cannery and Blue Water Grill, and it’s a dead end.

So if you continue this boat right here, if it continues, it’s going to run into a dead end about a half mile down. But boats are big. Weather’s beautiful. Just a few things to finish this video. And when you guys send me mail, say yes, you can use this. Yes, you can use my name. A man sent me a great email about how inexpensive Indiana was and that you can buy a house for $200,000 in Indiana. And there’s restaurants and everything around there. That’s fantastic. Paul sent me a great story, two newspaper clippings, talking about the difference between California and Texas.

Especially Austin, Texas. And great clips, great news stories, great items. And one thing that’s funny right now is we’re seeing the migrant shoplifting in Florida, migrant shoplifting in New York City go through the roof right now. Imagine that, guys. They’re just robbing people blind, and they’re not doing anything about it. So that’s terrible. But there’s a great story below on that. So one thing that I… I don’t know why I laughed at this when I read it because it was sent to me. And that was Blaze Pizza is one of those, like, biology where you make the pizzas yourself and you put the toppings on it.

They just got nailed and had a $277,000 fine for having child labor. All these kids worked there and didn’t follow protocol as far as making sure they had work permits, making sure they were legal, and making sure proper taxes were taken out. But they got a $277,000 fine. Check that. Final, final story. I love this. General Motors just announced that the brand-new Corvette is here. Isn’t that fantastic? It’s the fastest production car ever, they say, which I always love when they say that, you know, because Ferrari steps forward, then Lamborghini steps forward.

But it can go 215 miles an hour, and they start at $180,000. So you first go out and get one. Okay, good luck. I’m sure they’re beautiful. But please don’t forget to the like button, subscribe to the channel, check. The fact that you should have signed it for our email list because we’ve got one going out in the next day. And if you ever want to get ahold of me, helloatielegedly.com is the email address. And also, when you send me an email, guys, if you want me to talk about something or send me a photo or something, let me know that I can talk about this and use your name or not use your name.

I’m fine with either way, but it’s nice to hear from you guys what’s okay and what’s not okay. I’ll see you guys very soon. [tr:trw].

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