Hey, it’s Dan. Welcome back. You’re watching IAllegedly. And there’s a lot to cover today, but there’s two things in the banking industry that are wild stories that are going around right now. And before I get into it, please hit the like button. Please take a second to subscribe to this channel. And today we have a sponsor, Patriot Gold. But let’s get into it. You know what’s funny is banks fail on Friday nights. Banks drop really horrendous news on Friday nights. So does the FDIC for that matter. And the good old FDIC just came out and said that there are banks that have a lot of unrealized losses.

Now think about this. Banks buy assets and have assets and pay X. And now they’re worth this. And they can’t sell them for what they paid for. So that’s an unrealized loss because they haven’t sold it yet. That grew by $118 billion in the last quarter of 2024. Ow, ow, ow, ow. The problem with that is that now it’s at almost $500 billion in unrealized losses that these banks are swinging around. And you know, we’ve all seen the big short and all these other, you know, too big to fail and all these other great movies that brought 2008 into light and the subsequent years of that.

And now that we’re starting to realize that this is happening over and over again, these banks are having nothing but problems right now. Profits were up a little bit in some sectors, but if you don’t sell the bad stuff, it’s really, are you really making money? That’s, that’s the thing that floors me with this is that it’s like we made money over here. JP Morgan has a trading desk and does certain things trading and doesn’t follow certain guidelines that they have to follow with their regular banking. So what they do is they have different channels that they fund the money through and do different trading methods so that, you know, this one may be losing money, but the capital requirements that they’re supposed to bring, which is bring forward is like almost 5%.

They don’t have to worry about that because they’re spreading it around and it’s all nonsense. It’s where you swear right here, but it’s completely fake. And Jamie Diamond’s like, Oh, we follow the regulations and the rules. In fact, we need less regulation, which is what they want. But if you don’t think that these guys circumvent these rules and make stuff up as they go, that’s what they’re doing here. Now, the FDIC ish is a report. I spoke to the FDIC last quarter about this. Hey, tell us what the problem banks are because there are 68 problem banks that were, you know, potentially upside down that they’ve rate banks between a one to a five.

Five is the death star. It’s going to explode like Star Wars. Four to five is horrible. You don’t want your bank to be in a four or five. And the good thing is that that number from 68 went down to 66, but the risk, but the capital positions of these banks are worse now. There are more banks could go down now more than ever just because two of those banks came off. And that’s the headline that you’ll see on CNN, certain financial challenges. The banking industry has improved, which is complete nonsense because that’s the last thing that’s happened right now.

But these unrealized losses are going to have to be paid. You have interest rates that are, you know, like for CDs and T-bills and things like that are not going up right now. You’ve got interest rates on mortgages that are too high that people cannot afford them, whether it’s commercial real estate, residential real estate, whatever. But this is going to catch up with these banks. And eventually it’s going to be that the music stops, just like in Margin Call. Margin Call is a great movie talking about this because when the bank realized that if everything slowed down, it would be catastrophic.

If the music stopped in that movie and they had to sell everything, they wouldn’t be able to sell the assets that the bank owned for the money that they owe. In other words, they were upside down financially and had to liquidate everything just to get out at some position. That’s where they’re at right now. Again, read the stories below, but it makes you wonder. And again, ask questions about your bank. Introduce yourself. I don’t care if you have a thousand dollars in your bank. Make sure that they know who you are.

Make sure they know what you do because you’re going to see shenanigans. You’re going to see credit lines get cut. You’re going to see your ATM lines get cut. And every time I have one of these videos that people say, you know, my bank just upped my ATM withdrawal limit to two thousand dollars. I can get two grand out of the account. Good for you. Good for you. Try doing it too. That’s what I always tell people. Go do it. So the other thing, which is a great story, Daniel Acevedo. Daniel Acevedo is a bank employee and he works at a New York bank.

And what he decided to do was to rob the bank. He was in a trusted position where he would count the money in the vault and he would go in there and he was responsible for the for tallying the daily receipts, what was brought in, bringing the cash in and putting the vault. But what he did was systematically forge his boss’s signature and pull cash out to the tune of over a million dollars in cash over the course of a year he did this. Now, one thing that was told to me by a woman who worked at the bank and handled a lot of cash and a lot of different deposits and different bank wires and things like that that were very speculative to where she could have said, let’s just send this to my account.

You know, she she was entrusted with a lot of stuff. One thing that bank employees have to do that are in trusted positions. And this was a law that was enacted in banking in 1997 was they have to have a two week period where they do not work, two weeks consecutive where they do not work. And Daniel Acevedo said, listen, my job is so important here. He asked for that to be leave, you know, to be removed. I don’t want you guys can’t do without me for two weeks. Got to stay here.

Well, finally, they said, no, you got to leave. And of course, immediately they start to find problems. But what they did was they went back and went to the videotape and they found that this guy was practicing his boss’s signature over and over, could zoom in on it and would practice this boss’s signature at his desk. I mean, you guys, that’s that’s that’s solid gold. That’s funny in the sense of this guy trying to rob the bank. The other thing the guy did was during the course of a year, he deposited into various banks around New York, six hundred thousand dollars in cash, a few thousand bucks here, a few thousand bucks there, and now is being charged with felonies and massive crimes.

Just kind of fun. I mean, I love stuff like that. I just think it’s it’s they’re never smart. They never do it correctly. And, you know, it’s funny. It’s like that bank. There was a thing last year where there’s a banking glitch where you could sit there and you could say you could deposit any check and you could get immediate credit for it. People were buying cars and different things like that. A woman that had written me and step forward said, I did that for a few thousand dollars in the early 90s and have never been able to get a bank account again since then because I’m on this blacklist with every financial institution that they share.

So guys like this, he’s going to be done. So I always love insider information. You know, I have a police officer that’s retired. It’s going to share a bunch of stuff with us and security that he does now. A bunch of cool stuff. So a lot’s happening. And I love these stories. But again, is your bank on that list? You’ll never get the list. I’ve spoken with the FDIC and I will reach out. But again, they do this on the weekend. Oh, hey, here’s the information. Yeah, things don’t look that good. But you get it on a Saturday night and what do you care? You know, you’re just going to sit there and hang out.

And yeah, it’s not my bank. My bank seems fine. I used the ATM just the other day. Let me know what you think so far. Let’s talk about our sponsor Patriot Gold Group. You know, we have seen a lot of things happen with gold over the course of 2025. And you’ve seen it go up almost 15% already. You don’t want to miss out on this. The best place to get gold in your portfolio is Patriot Gold Group. They’re number one rated for nine years in a row. They have IRAs, a no fee for life IRA, 401ks that are backed by precious metals.

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And answer all your questions, guys. 888-330-1431. Contract Patriot Gold Group today. Now, the number of layoffs and shutdowns just continue. And first one is Flagstar Bank. They were sold last year. And they’ve been staying open. And they’re getting rid of 400 employees right now. And they’re blaming it on the sale and reduction in staff needs over the course of the first quarter of 2025. So that’s interesting. There’s a company called Autodesk. Again, tech is getting slaughtered right now. Tech is getting killed. What do you do? You get rid of employees. Manufacturing company and manufacturing design firm called Autodesk is laying off 1,350 employees right now.

1,359 percent of their staff. Nine percent. So, gosh, a lot of people losing their jobs in the San Francisco area. Maybe they go work for the city. They can go work in the office there. Now, one thing that got shut down, and I didn’t even know it was open still with Skype. Microsoft, you know, Skype was developed in the early 2000s. And with the invention of the smartphones, eventually it ended up at Microsoft in 2011. Well, now Microsoft has this thing called Teams. No one even uses Skype anymore. So much so that they’re getting rid of Skype.

And in May, it’ll be done completely shut off. So your Skype accounts that you’ve had, you know, for 25 years are done. They’re just completely gone. So, you know, I mean, the technology has changed. Remember, everybody during COVID, Zoom, and I’ll never forget, Zoom stock one day, one at $100 a share in one day because of the activity of everybody zooming from home. I know people that made a tremendous amount of money, you know, and I’m talking like $50,000 in just a few months teaching people how to use Zoom and how to have multiple people there.

I mean, I had an event, an online event in 2021, and we had a Zoom expert come in and run it. It was great. It looked really smooth. Everything was fantastic. But it just made it look effortless. Now it’s like no big deal with this. And less people are using Zoom because of the, you know, Google and like Teams and everything else. So just a matter of time until something else comes along and takes over that, too. So let me know what you think. But have you used Skype anytime soon? Have you even thought about that? Because I mean, it’s just done.

So it may, it’ll be gone forever. Imagine these companies spend, you know, billions of dollars for an asset. Eh, just it’s done. You think that there’d be something they could use from that. So I, you know, I always get a kick out of stuff like that. I’m going to finish this video with these last couple of stories. And Alicia Ortiz is a college freshman who graduated from a Hartford, Connecticut school with honors. And she cannot read or write. So she is suing the school board for negligence. And once again, I saw things happen, like with my son.

My son, you know, again, we dangled school was like, listen, you got to do, got to get a C in this, or you won’t get to play sports. You won’t get to play baseball. You won’t get to do this. And he just was not a good student. He was very smart, but finally we got him with a counselor who really worked with like where his focus issues were. And you know, I’m going to put you in this guy’s class, in this woman’s class, who’s going to work with you and allow extra time and things like that.

And it made all the difference in the world. But again, the kid just graduated college last year. So he did something right and learned to turn it around, but he can read and write. That’s for damn sure. So this is wild that she did that. Now final thing is, you know, the show survivor, the TV show survivor, when that came out, it’s been, it’s been out in 2001 is when that TV show came out and they were the first to offer a million dollar prize. It matched who wants to be a millionaire.

That show that had a million dollar prize also. So it was a big deal. Now, when you hear the word for a game show of a million dollars, it’s no big deal right now. And these shows are complaining. Hey, no one’s watching our shows because the money is not a big deal. It’s not. There is a famous YouTuber, Mr. Beast, Jimmy, that runs that show and he is going to have a five million dollar giveaway. But will that do it? Does that motivate people anymore? And a million dollars, think about that.

And today’s money, it’s only 500. It only has the same value as if you won $553,000 today. That’s how much money has dropped in value. So when you hear that, it makes you think, oh, wow, million dollars isn’t what it used to be. People that sit around and say, if I could only get a million dollars, it doesn’t do what you think it’s going to do. And people that win it are, are very upset. You know, the other thing is a lot of people win things on game shows, prices, right, wheel of fortune, things like that.

And can’t pay the taxes because you have to pay the taxes on the earnings. When you get those, you just don’t get a free car, a free boat. You just don’t get that. So it’s interesting. But I mean, I don’t even watch this show. I hate Survivor. I cannot stand it. I’ve had a friend that used to invite me over and I’d have to watch it to eat his wife’s cooking, which was really good. But his show preferences suck. So let me know what you think. Do you guys watch that stuff? And even got some big deal.

There’s a million dollars. I mean, a million dollars is a million bucks, a lot of money. But you know, I just, I don’t know, I get a kick out of that. So please hit the like button. Please subscribe to the channel. Do not forget to check your spam filter if you’re on our email list, because one is going out immediately following this, the release of this video. Okay. Onward and upward. Be kind to everybody. Look out for people, guys. Okay. Be nice. I’ll see you soon. [tr:trw].

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