Ep. 3429a – [DS]/[CB] Economic Narrative Is Backfiring The Number One Issue Is The Economy | X22 Report

Hi and welcome. You’re listening to the x 22 report. My name is Dave and this is episode 3420 09:00 a.m. today’s date is August 19, 2021. The title of the episode is deep state central bank economic narrative is backfiring. The number one issue is the economy. Let’s talk about protecting our wealth. In a world of economic uncertainty, safeguarding your retirement saving is more important than ever. Gold is a trusted source of value, providing stability for centuries through countless market cycles. With a gold IRA from noble gold investments, you can protect your financial future with the enduring power of precious metals.

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And the more they push, the worse it gets. And the people of this country, the people around the world, they see this. Remember, they never expected the people to be awake. They never expected the people go to be going back to work. They never expected the children to go back to school. They never expected the economy to be working. They thought everything was going to be shut down one way or another. This way, they can actually implement their plan, and people would just buy into it as we went along. But since the people are awake, and the people of this country, the people around the world are awake, they can see what is actually happening.

They can experience what’s actually happening because they’re not scattered in their homes. They’re not afraid because of a war. They actually see the liars, the cheats, the individuals that have been telling everyone that everything is fine. The people actually truly see that we have major problems. And the number one issue is the economy. And Kamala Harris, Joe Biden, the deep state players, Central bank, they have now trapped themselves in this narrative, and it’s very, very difficult for them to get out of this narrative. Now, once again, Kamala is trying to get out of this. Of course, Obama is directing this because she needs her separated, but I don’t believe it’s going to work.

I do believe that she is completely and utterly trapped in this. And the more she says, I think the worse it gets. Because what she’s talking about is price control. She’s talking about communism. She’s talking about bread lines. She’s talking about all these different things that we see in other countries. And the people, they’re not going to be going along with this. Now, the other thing that we see as we move along is that they can’t explain why the economy is failing when they’ve been telling us the economy is doing great. Remember, they’ve been telling us that bidenomics is absolutely fantastic.

But the people, they’re experiencing something very, very different. And as they push the green new scam and as they keep pushing the great reset, this is what people notice. And yes, we have newsom out there. We have all these individuals trying to convince the people that something is happening and the people are experiencing something completely different. So the lies are very easy to spot right now. And the more they do, the worse it gets for them. Remember Germany and California, they are the templates for the green news scam. This is what they want the world to actually look like in the end.

And when you look at it, Germany, you can see that this is the track that they’re on. And the people of this country, Germany, they see how bad it is getting. And Germany, they just blew up the cooling towers of their nuclear power plant. So now they’re removing their energy independence. They’re dependent now on other countries. They have to buy their energy. And their economy is suffering right now. It’s getting worse and worse as time goes on. The same thing out in California, it’s the same exact template, same exact thing. And when Newsom was out there letting everyone know, hey, by the way, these windmills, these solar panels, this is making it a lot cheaper for people with their electric bill.

The people of California are looking at them going, yet the electric bill is not cheaper here, actually. The electric bill is skyrocketing. And the people aren’t buying what he’s selling. Actually, Southern Californians, they were hit with skyrocketing electricity bills. And what they’re seeing is they’re seeing the electricity costs moving up and up and up, not the other way. And this tells the people everything they need to know. And they realize that the direction the state is heading is the wrong direction. And companies in certain states, and remember we said this from the very, very beginning, that the people were going to see the difference between a red and a blue state.

And I think we’re already starting to see this because we see a lot of companies moving out of California. We see a lot of companies moving out of other states. Right now we have Morton Salt. They are now leaving Illinois. They’re relocating their headquarters to Kansas. And they’re saying that the state’s hostile business climate is the reason they are now moving. And we’re going to see more and more of this as time goes on because once again, why would companies stay in an area that doesn’t benefit them? No, they’re going to move to another area. And when you start to look at it, you can see a lot of the businesses are moving to the red states.

And you’re going to see a very, very big difference between the blue states, the blue cities, and the red states and the red cities. And I think it’s becoming very, very clear right now. Now we’re starting to see the entire economic system completely and utterly fall apart. And we’re seeing a lot of retail stores. They are now closing a lot of stores right now. Rite Aid, they have shut down all stores in two states, leaving tens of thousands scrambling for essential medication. And they announced the closure of all its stores in Michigan and Ohio following a staggering total of over 850 store closures since filing for chapter eleven bankruptcy in October 2023.

So we could see that they are now having major, major problems. And I do believe there’s a lot of retail stores right now that are going through the same exact thing. Because again, what is happening here is that the entire economic system is breaking down. The deep state players, Kamala, Joe Biden, Obama, they’ve been pushing out manipulated numbers. And these manipulated numbers, they’re not reflecting what’s really going on in the economy. And now the people can really see it in the very beginning. Little difficult to see people, you know, bought the Kool Aid. But now as time goes on and the economic system completely and utterly breaks down, people see the truth of the matter.

They see the difference. They see what’s going on, and they’re experiencing it every day, which something where the deep state players, the central bank, they can’t explain this away. They can’t explain why people are feeling like this. Because when you can’t pay your bills, when you realize everything’s going up in cost, when you realize you’ve been lied to, there’s no way to get around this. And this is why Kamala and Joe Biden are trapped in all of this. And when you look at the economy, you can see it’s completely and utterly breaking down in all different areas.

The Cobisci letter on X put this out and said commercial property floor closures hit 20.6 billion in the second quarter of 2024, the highest since the third quarter of 2015. Lender portfolios of foreclosed commercial properties increased by 13% last quarter. Since 2020, foreclosures have more than doubled, rising at their fastest pace since 2008. Financial crisis many lenders hoped that the commercial real estate sector would recover and were reluctant to foreclose properties until recently. Meanwhile, there are still over 6 trillion in cer debt in the US, with 50% of this debt held by banks. Small banks, the same banks that almost collapsed in the regional bank crisis, hold 70% of these loans.

Is another banking crisis now brewing? Most likely, yes. Small businesses, they have been seeing their sales decline over the last three months. Capacity letter Onyx Again, 16% of small businesses have been watching their sales decline over the last three months, marking the worst three month stretch since November 2023. This is the third weakest reading since the 2020 pandemic. Over the last 60 years. Such a high share of small businesses with failing sales has only been seen during recessions. At the same time, the small businesses uncertainty index rose to 90 points in July, its highest level since November 2020.

Us small businesses are feeling the pain of high rates and a slowing economy. And you could see that every different sector in this economy is now affected. And when you look at it, it’s very, very similar to 2008, but it’s a lot worse. And basically, as inflation continually rises and fuel costs keep moving up, people are having a very difficult time because remember, inflation is cumulative, it doesn’t go away. And we use the example, I think, believe, I believe last time where if you’re gaining weight, you gain 30. This year you gain 40. Next year you gain 50 the year after that, then you gain only 30.

After that, then 20, then two pounds, all that weight that you gain hasn’t gone away, even though you’re only putting on two pounds every single year now, it’s the same thing with inflation. And this is why people, they’re really feeling it. I do believe Trump of the patriots, they knew that people were going to feel the cumulative effect, because think about it, the inflation rate went up dramatically during Biden’s term. Now, Kamala, who’s taking over? So people, they experienced that it never went away. It kept getting worse because it doesn’t get better. And this is what people have seen.

And now people can’t afford the basics. It’s becoming very, very difficult. And you could see the CPI inflation is continually moving up. The cobic letter on x once again, put this out and said while US CPI inflation has risen by approximately 6% over the last two years, inflation and many necessities has been much higher. Transportation services prices have skyrocketed by 18.5% since 2022. Shelter and services inflation have risen by 13.5%. Water sewer, trash collection electricity prices have spiked by approximately 10%. Even food and beverages have been seen have seen an increase of about 8% since 2022.

Affordability is getting worse as time goes on and you can see that Kamala Harris is out there trying to fight all this. Remember, they’re trying to separate her from the economy that they created. And remember, if you go back in time, you can hear her saying, bidenomics is working. Everything is great. We’ve created jobs, everything is fantastic. And the more she says, the worse it gets. Because once again, she’s trying to counter all this by just telling everyone, we’ll just give everyone free stuff, which we’ll be talking about in just a sec. But once again, she’s out there telling people that prices are moving up.

This is not helping her situation whatsoever. Trump Warren, put this out and just take a listen to what she says here. Prices are too high. It feels so hard to just be able to get ahead. The bills add up. Food, rent, gas, back to school clothes, prescription medication. The cost of food, a loaf of bread cost 50%. More. Ground beef is up almost 50%. There’s a serious housing shortage. The price of housing has gone up. It’s too difficult to build and it’s driving prices up. It is out of reach. The size of down payments have gone up as well.

Costs are still too high. There’s not much left at the end of the month, and prices are still too high. And once again, she’s just telling everyone what everyone is experiencing. The question is, why is everything going up? Let’s talk about your health. If you suffer from any type of daily pain, I need you to listen to this message very carefully. What we know about the root cause of pain is changing forever as we age. Aches and pains are natural, and we all are searching for effective way to relieve pain without side effects and addiction. Let’s be frank.

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The private link and discount will stay active until midnight. Try Conledyne risk free for a full 90 days. You have nothing to lose. You are days away from finally beating pain forever. Go to tricono.com x 22 now and see for yourself. Why is everything becoming more expensive? Remember they told everyone the economy is great, they’re creating all these jobs. What’s the problem? Let’s go to the root cause. Is it all the spending? Is it the way the central bank system is set up? Absolutely. Dan Scavino on X put this out and said since Kamala Harris took office, gasoline is up 51%, electricity up 32, airfare 23, groceries 22, rent 22, eggs up 47, car insurance up 54k through twelve, food up 66%.

And of course, what do they like to do? They like to blame it all on the companies, the oil companies. And they’re continually out there saying that the supermarket, stores, they’re all price gouging. Well, Steve Wisner breaks it down and shows you how there is no gouging going on whatsoever. He starts off by saying, $47.61 for paper towels and TP at Target today. Absolutely insane example of corporate greed and price gouging. In fact, it made me so angry, I decided to do some analysis. Many prices have increased by 50% or more since COVID So I decided to put on my investment banking hat and spread some financial financials back to 2018 and 2019.

And man, was I ever surprised. I started by looking at targets annual revenue. 2018, it started at 75.4 billion. 2022, it went up to 109.1 billion. 2023 went to 107.4 billion. Last twelve months, 106.6 billion. A couple things I noticed. First, revenue has slipped a bit since 2022 and is continuing to do so in 2024. Not a great sign for the broader economy. Second, there’s been a big growth since 2018. They must be price gouging. Well, I looked a bit deeper. Look. Let’s look at the cost of goods sold over the same period. The price they paid to buy the products they sold you.

2018, it was 53.3 billion, 70% of sales go all the way to 2023. 77.7 billion, which is 72% of sales last twelve months. 76.8 billion, 72% of sales. Wow. So let me get this straight. Target is making less money, $0.28 on every dollar of sales today, than they were in 2018? That’s weird. Maybe they’re not so good at this price gouging thing. So I decided to dig a little bit deeper. They were probably being evil and firing all their employees so they could make up the money. The difference that they weren’t gouging. Right. So I looked at their operating expenses and what do you see? In 2018, there were at 15.7 billion, 20% of sales.

2023, 21.6 billion 20% of sales last twelve months 21.7 billion, 20% of sales. Very unusual behavior for some someone price gouging. Let’s sum this all up by looking at their operating cash flow. 2018, 6.3 billion, which is 8.4% of sales. 2023, 8.1 billion 7.6% of sales last twelve months. 8.1 billion, 7.6% of sales. So what this means is that targets target is making less overall profit on every dollar of revenue today. 7.6 cents than they were in 2018. 8.4 cents. And revenue has grown at an average of 7.3 per year since 2018. And operating cash flow has gone at 5.1% per year, both of which are pretty much in line with the overall rate of inflation during that period.

So basically, they’re not price gouging. And the cost of them paying for this paper towel has gone up. And you could see that there is no, no such thing as price gouging here. And when you look at the oil companies, when you look at everything else, you could see that it’s very, very clear that this isn’t happening. But this is all they have. Because how do they explain this? Can they tell you that, hey, by the way, all the printing, all the borrowing, I should say, and the printing of the Federal Reserve, this is what caused it.

No, they need to stay away from that. They can never, ever allow you to see exactly what’s really happening. They never go to the source of the problem. They don’t want to go to the source of the problem. So they blame everything else. And now you understand why they want price controls and what a price control is going to do. It’s going to bring us into the territory of Venezuela, to Cuba and everything else. We’re going to have bread lines, people going to have to line up on the streets in front of the grocery stores to try to get their groceries.

It’s going to be a complete and utter disaster. Instead of going to the source of the problem, which they don’t want to do, and think about all the other things she wants to do, Nick Sorter put this out on x and said, wow, Kamala Harris is literally threatening to unilaterally confiscate citizens and businesses private property. I will snatch their patents so that we, the government will take over. Yes, we can do that. This is what literal dictators do. They take control. Actually, if you go back in time, didn’t Obama take control? Didn’t the government purchase stock in corporations and take control of the companies and bail them out? This is what they’re trying to do on a grand scale.

They want complete and utter control. But again, it’s not going to work. It’s going to fail. And you can see the media. They’re already turning on Kamala Harris. Gunther Eagleman put this out on x, referring to a couple of articles, one from New York Post, one from CNN, one from Newsweek. This is the headlines from the New York Post. Kamala Harris soviet style grocery price plan has no upside and will likely spark worse shortages since the seventies. CNN Business Harris’s plan to stop price gouging could create more problems than it solves, especially when there is no price gouging.

Newsweek, Kamala Harris grocery price gouging plan is riddled with problems. Absolutely. And again, she doesn’t have a plan because she doesn’t want to go to the source of the problem. The source of the problem is the central bank. See, the central bank is a loan sharking system. The deep state players who are corrupt in DC, they just continually borrow and borrow and borrow. That causes this problem. More currency that’s in circulation. The currency then devalues and this continues on. It doesn’t stop and it gets worse and worse and worse because when inflation starts to pick up, you have to borrow more and more and more to make up the difference.

And you can see we’re almost at that point. But since Kamala Harris is talking about equity and being fair and price controls, well, it looks like she’s wearing a necklace worth 370% more than the median us monthly salary. Really? Think about that for a second. And with Kamala Harris, with her plan, she wants to basically do a 1.7 trillion in handouts. So her economic plan includes measures to dole out 25,000, help first time home, buy homeowners with their down payments, and give up to about 6000 tax rates for lower middle income families who have a child in their first year of life.

Harris did not say what incomes qualify as lower and middle. The house subsidies alone are absolutely inflationary, of course. And anything that she’s trying to do is just going to make the situation a lot worse. And you have to remember they’re saying that, hey, you know what we’re going to do? We’re going to build 3 million homes in four years. Well, let’s just go back a little bit in time. Didn’t Biden receive billions of dollars to build EV stations around the country? Well, it’s been, what, two and a half years? How many EV stations have they built? Oh, eight.

So do you really think they’re going to be able to build all of these homes or you really think they’re going to build the homes? Because again, what do they actually do with the money? They launder the money. The money just disappears. And she did mention a child tax credit. And this tax credit is just going to help and repair everything. No, it won’t. It might help a little bit, but again, it’s not going to solve every single issue because you have to go back to the source of the problem. But look how the fake news actually structures what Kamala wants to do and what Vance wants to do pretty much the same thing.

But they use two different headlines. Define out. Put this out and said CNBC. This is what they said about Vance. Vance wants to raise the child tax credit to 5000. Here’s why that could be difficult. Now, Kamala pretty much says the same exact thing because she’s basically copying anything that Trump and Vance are doing. And this is the headline Harris calls for expanded child tax credit of up to 6000 for families with newborns. Hmm. I guess there’s, it’s not going to be difficult. It’s not going to be a problem. Why is it only going to be a problem with Vance? Really think about this for a second.

That tells you everything you need to know. And again, everyone now is seeing it. Kamala cannot separate herself because the number one issue is what the economy, as the economy breaks down, what do people experience? They experience it. They know it. They know their bills. They know what they’re spending. They know what everything costs. So no matter how much gaslighting they do, it’s not going to work. And I do believe this is where Obama is going to have a problem with Kamala because they’re going to try to separate her. But in the end, it won’t work.

So I do believe they’ll probably have to bring someone else in who’s not associated with any of this and try to convince people that this new person, maybe it’s gonna be Michelle Obama, maybe it’s gonna be Hillary Clinton, they have to convince the people that this new plan is going to work. But again, do you think the people are going to drink the Kool aid? Absolutely not. You know what people are seeing? You know what people are realizing? The people are starting to realize that the central bank, it’s funny money and it loses value and it doesn’t benefit the people.

You know what people are seeing? The people are saying that gold is real money. People are now seeing that bitcoin is actually real money. And what’s very interesting is that 75% of bitcoin hasn’t moved in over six months, signaling strong huddling trend. Which means the people, they realize that, no, I need to hold on to this. The same thing with gold. People who have physical gold, I’m not talking about the paper gold. The people who have physical gold, they understand that they need to hold on to this because in the end, what happens when everything starts to break down? Everyone realizes what’s real and what’s funny money.

And when you look at the central bank system, they have an unlimited supply of money. It’s not backed by anything. They just push a button they can create as much as they want, and it’s centrally controlled. When you look at gold and when you look at bitcoin, it’s a fixed supply. With bitcoin, it’s backed by energy, actually, it takes energy to mine the gold, and no one can control it. Now, of course, if you have a central bank in place, they can set up mechanisms to try to control that market, because again, for example, gold, gold is pegged to the dollar so they can manipulate it with paper contracts.

If you don’t have the centralized system, nobody can control gold. Nobody can control bitcoin. It’s decentralized because there’s miners all over the place. See, with a central bank, there’s only one institution that creates the currency, and that is the central bank. They’re the ones who own it. We are borrowing it. That’s why it’s an instrument of debt. That’s why it says Federal Reserve note. That’s why there’s interest attached. This is what we need to do. We need to get rid of the private west central bank. And I do believe this is what Trump has been leading up to, bringing the people on board with what his plan is, because I don’t think he just can come out and say, by the way, you know what? The central bank, it’s, this is the corrupt institution.

We got to get rid of it, because a lot of people wouldn’t even understand that. But if you start off saying, okay, no tax on tips, no tax on Social Security, no tax on federal income, people then start to say, you know something, this is a good idea. How can we get there? What do we have to do? Oh, we need to get rid of the central bank. Oh, let’s do that. Let’s get rid of the central bank. Will it make our lives better? Yes, it will. How come we have to get rid of the central bank? I thought that was part of the government.

Oh, wait, it’s not part of the government. It’s private corporation. See, this is how people wake up, moving very, very slowly, methodically showing them the truth. And I do believe this is exactly where we’re headed. And people now are seeing that. Bitcoin and gold and silver, this is real currency compared to the central bank system, which only benefits them. It doesn’t benefit the people and actually destroys our economy in the end. And I do believe people, they’re waking up to this, the people are understanding this. And in the end, I do believe when everyone realizes what’s really happening as the system comes down and trump the patriots, they show and do an investigation into what the Federal Reserve has been doing.

And why did we have this major crash? Why is the economy the way it is? I do believe the people are going to be behind Trump. I do believe they’re going to demand that we go ahead and move away from the private with central bank. And I do believe in the end, we’re going to see an economy that we’ve never seen before. Listen, everyone, thanks a lot for listening. Be well, be safe, and especially be prepared. Thanks a lot.
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