Summary
➡ The text discusses a decline in retail sales and consumers’ financial capabilities, predicting that Black Friday sales will not be as successful as expected. It also highlights increased credit card debt and softening real estate prices, with foreclosure actions on the rise. There are also offers for Black Friday sales on the author’s email list, retail experiences, reports on specific events, and news stories. The author concludes with personal thoughts around making amends and taking care of others during the holiday season.
➡ The narrator enjoys early morning videos, observing a change in plane direction due to Santa winds, and urges viewers to join their email list for personal contact.
Transcript
I thought I’d go out to Newport and check out how calm it is and how quiet it is at times like this. But Margaret Lomax is a customer of Farmers and Merchants Bank. She lives in California and had an Arizona property, and she wanted to sell it, sells it, has a nice payday from it, clears a nice big profit. Well, one thing that she wanted to do was she wanted to take that money and put it into a different account for her retirement.
So she transferred $120,000 from Farmers and Merchants Bank to Citibank and saw that the transfer went through, checked it, and was relieved and went about her day. Then she went to Target to use her card and swiped her ATM card, debit card, and the transaction was denied. She said, that doesn’t make sense. We’ve got over $120,000 in the account. She goes to look at the account, and not only does she not have any money, but it’s been zeroed out.
There’s no money in the account. So she’s like, well, that doesn’t make sense. So she calls Citibank and Citibank says, we have no record of the transaction with you. Now, she saw it go through, and she said the only regret that she had was that she didn’t screenshot that image. But she saw that the transaction went through. She went back to Farmers and Merchants Bank to see if the money was still there.
And no, it was gone. It’s already out of the account. So what does she do? I walk over the fence. She starts to look into the claim of where did $120,000 go? And here is something that is happening more and more with people is these electronic transfers and electronic deposits and withdrawals are not coming through. People have told me, how about this one? That they make an ATM withdrawal and that may not be from their bank, and the bank will hold it for two, three weeks.
And all of a sudden, two weeks later, they’re getting the money debited out of the account. Wait a second, didn’t that already come out of the account? No, it didn’t. So Margaret does an investigation. The money is gone. Guys, here’s the biggest insult to this. Citibank writes her a love letter that says, hey, you’ve violated our terms of service by having a zero balance. Can’t even make the zero this morning, the zero balance on your account.
So we’re shutting the account down. And she’s like, wait a second, guys. I have all this money and you haven’t done anything about it. This is happening more and more and more with these banks. And she has an investigation into both banks and has to get an attorney to fix this. This is happening all the time now. We’re hearing about bank closures. We’re hearing about online banking being down.
We’re hearing about ATM networks being down. I get I’m telling you this on basically a weekly basis, three to five times a week, people send me the different notices of where bank closures are happening. There have been over 3000 bank closures in 2023. It’s been a record year for bank closures. And you’re seeing this happen more and more and more and again underperforming banks, it’s always going to affect the poorest communities and the elderly are going to get affected by this.
But Margaret, she’s at $120,000 to this date, so still her life savings. I bought this property, I wanted to sell it at the top of the market, made a healthy profit, and now the money is missing and an investigation is being done. Now, here’s the worst part. Citibank has told her, yeah, the money got transferred to another Citibank account. Do you have any other accounts with us that we’re not aware of? How would you not be aware of somebody’s bank account? So the money was given to somebody else and like she said, what a windfall.
Imagine waking up and you have $120,000 in your account. We talked about this a few years ago about people that have had huge deposits that are put in their account and what people have done with it. They will arrest you guys if you spend that money. So I always recommend that people don’t do that if they ever have money that’s put in the account by accident, because accidents will get corrected at some point.
But Margaret Lomax hasn’t had this happen. This is a problem. There’s a man earlier in the year, and the story is below three months ago that did a huge transfer from account to account and the money just vanished out of his account. And he was online and saw it get zeroed out. You guys have a relationship with your bank. Check this out. Do what you can do. I don’t know how you fix this one, okay? Because the money has basically been stolen or something.
But you would think that if it’s been transferred to another account, that they would be able to correct this. So, of course, the bank’s not racing out to get if the money was stolen from them, they’d be investigating this over every single day. But poor Margaret has to endure this and has to try to figure out if she can get her money back. I love starting my day at places like this.
I love coming know when the sun comes up early, and boy, did I need some beach time. So it’s nice to be home. The wind is gone. Just been crazy remember the hangar that burned last week in Tustin? What didn’t stop burning? We had Santa Ana winds, which are winds that basically are much stronger. They’re much warmer winds. And they come and they go the opposite direction. They don’t come from the ocean.
They come from the mountains. And the problem with this is that the idiots at the city of Tustin that own the marine base that are going to get their brain suit out, let it burn, burn, burn, burn. Okay. Disco inferno. The problem with it was that it’s got all these toxic chemicals in it and toxic particles and things like that. My friend lives about 2 miles away from that.
She’s been picking up clumps of things, and they said, oh, just don’t touch it. We’ll come get it. And she’s like, are you kidding? There’s going to be lawsuits for this. And so she’s been sending me photos of different things that they’ve been sending her in her backyard. You know, I’m going to share a few of these. Look at this chunk. Okay? This is just crazy. This is the stuff that she’s finding her backyard.
By the way, the whole building is laced with garbage. And what I mean by that is asbestos and other chemicals that you should not be inhaling. Here is the worst part. She gets up to go for a drive and go to work, and there are guys cleaning up the material with toxic hazmat suits on around the corner from her house. Would that concern you? Look at these guys.
Lovely gentlemen. Okay. Right? But there’s nothing to worry about. They closed all the parks. The schools closed. They’re finally reopened. But you can’t sit there and touch this stuff. And they’ve got people dressed like that to deal with this. Is that crazy? I think so. So let me know what you think. Share your thoughts on this again. Start your day early, guys. It’s beautiful. It’s so great. It’s so productive to be out when the sun comes up before anybody else is out here.
Just beautiful. I’m glad to be home. Let’s talk about our sponsor, patriot Gold Group. It has never been easier to buy gold. The best place to do that is Patriot Gold Group. Call them today 88833 00:14 31 and get a free investor guide. They will answer all your questions. It’s absolutely no obligation to give them a call, but you can find out how you can get the no fee for life IRA 401.
Check it out today, guys. But look at having precious metals in your retirement. The best place to do that again is Patriot Gold Group. When you think about how precarious our stock market is and everything that’s going wrong in the world with the retail debacle and everything else, you have to hedge yourself and protect yourself with the future. And you need to do something about your retirement today.
Call them today. 88833 00:14 31 our national debt is growing by the day. You need to protect yourself. You need to look at what’s about to happen and make sure that you’re ready for it. Call Patriot Gold today, guys, before it’s too late. As we look at the economy as a whole, let’s pull things out of it. First things first, retail sales. When you look at Walmart, Target, people like Kohl’s, okay, kohl’s this morning just announced their earnings.
Stock price is down. But here’s what’s disturbing is that they said the same thing that Walmart and Target did and that the consumer is broken. The consumer is weakening. The consumer has no money. This is to prepare you guys. The big lie of how great Black Friday sales are going to be is just that a big lie. Now join our email list. For those of you that do want to shop, I love a deal.
I love discounts. I love saving money. And we’re going to have a big Black Friday promotion with our email list, and it’s going to be announced on the email. So check it out, guys. It’s going to be all the different Black Friday sales and everything that we accumulated. So everything that you guys have sent me and all the discounts and the sites and things like that. If that interests you, make sure you’re part of the email list.
All you do is take a picture of this, and it’ll go right to the registration page to make sure you’re part of it because an email goes out tomorrow. Okay? So these retail sales numbers are disturbing because, guys, Black Fridays this week, this is gearing up, and this is people getting ready to save money and spend, spend and go wait in line. It’s not going to happen this year.
It’s not going to happen. People don’t have the money. People are cutting back. People are doing everything they can to spend as little as possible, but they’re putting all on their credit cards. Our credit card growth is well over. It’s $1. 6 trillion in credit card debt, and it’s grown at the sharpest pace month after month after month, okay? Now you can sit there and say, oh, it’s the holidays.
Damn. People spend more money this time of the year. No, but they’re buying staples. They’re not buying Christmas gifts in October, okay? It’s not happening yet. Next thing is real estate prices around the country. You’re starting to see areas that are starting to soften. And one thing that’s definitely happening is here in Southern California. You’re seeing this happen in the larger markets, okay? Isn’t it wild getting over here and having the sun get blocked behind the lighthouse? Kind of cool.
So real estate prices are softening here. But again, my foreclosure buddy Doug, he lives in Las Vegas. We got to spend some time during the Formula One, and he was just showing me the analysis after analysis of markets that they have increased activity for. And the problem with it two things are happening. It’s like the auto auctions. You have people that finally get foreclosed on, okay? Because it’s taken a long time.
You got to really screw up to get your house into foreclosure. And what I mean by that is the banks are forgiving forbearance forbearance forbearance the number of houses that they think that are going to be out of forbearance come the end of this month. November 30. Forbearance ends nationally unless Grandpa gives them reprieve, but we’ll see if that happens. So these people are finally going to have to face the music.
There are some people that have not made a house payment for three years, okay? And now they want to negotiate. Now that, hey, we want to work a deal out. It’s a bit late, guys. It’s a bit late. So you’re going to see massive problems with this, but you’re starting to see softening prices, and you’re seeing these houses that go to auction, and then they revert back to the bank, which hasn’t been a thing for years.
So these houses, you’re starting to see them go back to the bank and the bank realizing that they owe. These people owe this much when the house is worth this much. So just the beginning, guys. Just the beginning. Tell me about the retail debacle, guys. Tell me what you think about these stores and if they’re doing well or not. I always think about stuff to buy around my house.
I love the Home Depot deals. I love the Lowe’s deals. Looking for a ladder right now. Oh, I’m going to go buy a ladder and they’re going to be dirt cheap. Okay? Things like ladders and things like that, they always mark down a ton, guys, so that you’ll go in there and buy other stuff too. But no, Danny just goes in and buys one thing and leaves. Okay? Share your thoughts on this stuff, guys.
Join the email list. The link is below. Or use that QR code that I had earlier. Okay? I attended the Formula One event. It was great, really. It was one of the best organized events I’ve ever been to. And it’s really weird when you attend and you buy tickets to things like this. They feed you and they have all these different people around there helping people get around.
It was absolutely ran really well. Overall, do I think that the city was busier? Kind of busier wasn’t as busy as I thought it was going to be. Which leads me to a story out of Australia. Crown Sydney is a casino in Australia, and because of economic problems right now, they’re not going to go twenty four seven right now and be open. They’re going to cut back as of the 29th of this month, at least 6 hours a day, they’re going to shutter, which you’ve never had that happen.
And most casinos, you don’t look at the, hey, let’s check our watch and see what time the casino is open because they’re open all hours every day. You can eat all the time, things like that. Nope, not the crown. Sydney it’s going to close Target. A couple of Target stories that are fascinating, and Target is trying to limit theft in the stores. So what are they thinking of doing? Making it so that if you go and you shop at Target and you use self checkout, ten items max.
And if you have somebody standing there counting your items before they do that so will that work? Who knows? A woman in California is getting all these Target shipments to her. She’s had over a hundred Target shipments. She says it’s very annoying, but she’s getting cosmetics and lady products and all these different female things sent to her, but never ordered any of it reaches out to Target. We can’t explain it either.
So a lot of groups do this. They’ve done it with Amazon and they commit fraud and they buy certain things and send it out. So it’s very interesting. But she’s gotten over 100 packages, and she says, I’ll show up and there’ll be 630, 19, just craziness. So that was kind of fascinating. I’m going to finish this video with these last couple of stories, guys. One thing that I truly believe in is use this time of the year to make amends with people.
Use this time of the year to check in on people. So many times we call people when we need something. Hey, my car broke down. Hey, can I have a ride? Hey, can I do this? Can you help me there? Can you help my daughter here? Just call people and check on them. It’s the nicest thing you can do. How are you doing? What’s going on? Just wanted to say hi.
I don’t need anything right now. People are broken right now and broke so people could use this. It’s never too late to be a good son. It’s never too late to be a good dad, mom. Everybody check on people. Final story. Bear. Yeah. The aspirin company that owns a company called Monsanto just got hit with a huge $1. 6 billion verdict in Missouri. And what this verdict is from is Roundup, the weed killer.
These three defendants, I forgot their names right now, but you can read the story below. Got $61 million in damages. That’s a lot of money. What the jury found with this case is that Monsanto was so egregious with how they handled this that they awarded punitive damages to the tune of $500 million a person. $500 million each. Okay, so, punitive damages ask any lawyer you happen to see.
He will tell you. Punitive damages are to give somebody a message and to make it so that this does not happen again. The problem with these weed killers and things like that is they didn’t tell us how unsafe they were. My late girlfriend, who died of complications from breast cancer and everything else that came from that tried to figure out what caused her cancer and was it genetics only? Was it the environment? Was it living close to a freeway? All this stuff that we don’t think about, but these poor people that used that stupid weed killer and were victims of that, it’s horrible.
So these people are going to pay up. But you guys, there are so many lawsuits out there with this and you haven’t seen the end of it yet. So if you have any illness or anything like that, look at things like this. Think about your past and have somebody put pen to paper on what you could have done that could have been a problem. And contact these lawyers.
Okay? Please don’t forget to hit the like button. Please don’t forget to subscribe to the channel. I love these early morning videos. They’re just the best. They really are. And it’s really weird coming out here where the planes normally take off this way, they land this way because of the Santa winds. The wind blows in the other direction. So it’s kind of cool to see. Don’t forget to join the email list if you want to get a hold of me.
Hello at ilege of. com is the email address. Onward and upward and I will see you guys very soon. .
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