LT w/ Dr. Elliott: Debt Increases Banks Closing 2009 Will Look Like Kindergarten

➡ Dr. Kirk Elliott discusses the potential economic impact of the United States and European Central Bank’s decision to raise interest rates one more time and maintain them at a high level. This decision is reflective of the continuing struggle with inflation; despite claims of victory, the reality is high interest rates for an extended period, which could have devastating economic effects. Expectations of a surge in corporate bankruptcies and unsustainable national debt are looming due to the increased interest rates and loss of the world’s reserve currency status.
➡ The US national debt has significantly increased, with an additional amount amassed in ten months that surpasses what was accumulated in 204 years from the country’s inception to President Reagan’s term. Independent financial experts and global financial organizations, including the International Monetary Fund (IMF), warn this is an unsustainable fiscal policy, attributed to enormous government spending, high interest rates, and increasing taxation policies. Furthermore, an unprecedented number of US companies have filed for bankruptcy protection over 2021, and corporate debt of over $2 trillion is due for refinancing at higher interest rates by 2024. The banking sector shows signs of consolidation, with major financial institutions closing their branches due to regulatory measures and capital requirements, accelerating the transition to Central Bank Digital Currencies (CBDCs) and consequent loss of financial privacy. This scenario highlights the importance of allocating wealth into non-digital, tangible assets such as gold and silver as a safeguard against potential economic crises and inflation pressures.
➡ The team provides a people-centric advisory service, going beyond mere transactions to build relationships with clients. They guide clients towards informed decisions on finance and investment, including the transfer of IRAs to precious metals, understanding the bigger economic, political, and social landscapes, and avoiding regrets of not taking informed actions. They emphasize trust and understanding, supporting clients throughout the decision-making process. They are planning to enhance interactions via live Q&A sessions in the future.

All right. Well, here we go again. Just love this interview. Every week with Dr. Kirk Elliott. We’ve got him on board to discuss some more things that continue to happen throughout this Earth, throughout this interview. You guys can go in the description box below the video. Just go below the video you’ll see and we slash gold. Click on that link. You’ll be able to reach out to Dr.

Kirk Elliott and his team and they’ll get back with you and guide you through the step of your finances and more. They’re going to definitely step in and help you. So there’s a lot going on in the Earth. What’s cooking in your end of the world? Dr. Elliott well, so a couple things happening really big right now. So the first one is Janet Yellen earlier in the week had made a statement that they’re going to raise interest rates one more time in America, and then the whole thing, we’re going to pause, right? So people look at that word pause as a positive thing.

Like the Biden administration is saying, this is good. Look at we’re winning the war on inflation. We get to pause interest rate hikes. That’s the narrative. And people see that as a win, that they’re actually winning this battle. They don’t have to keep raising rates to slow down inflation. So here’s the real meaning behind it, which Jan and Yellen basically exposed earlier this week and also confirmed by the European Central Bank.

So raise interest rates one more time. So that will put them at the highest level since, I don’t know, the late 70s or even before, right? So then the pause means they’re just going to keep this high interest rate static. It’s not going to come down. It’s not like it’s going to go up and then come back down because they’ve won the war against inflation. They’re going to raise it one more time and then it’s just going to flatline.

We’re going to have prolonged higher rates for a long period of time is what that means. So what does that tell us? In layman’s terms, it says they have not won the war against inflation. We’re going to have prolonged high interest rates for a while. And that’s going to be economically devastating, and I’ll explain why. But this is not just centered in the United States. So the European Central Bank same day that Yellen made that announcement, which makes me think, oh, is this some kind of a collusion of messaging? Right? But theirs was even more extremist in their language.

So the ECB is now going to preserve peak rates. That’s their words, preserve peak rates. Not just high rates, but like peak rates because they’re at the highest interest rates that they’ve seen in a long, long time. So they’re going to keep those up there. Preserve them means they’re going to do the same thing that Janet Yellen said, is we’re going to raise the rates one more time, then we’re going to maintain them at that high level.

Preserving peak rates is actually even more extremist sounding. They’re going to get those highest rates and then just keep them preserved until the second half of next year. So what does that tell us? When the European Union, the Eurozone countries and North America basically are saying, well, we have not won the war on inflation, is what that really means, and therefore we’re going to keep rates high until we can kill it, however long it takes.

These are undetermined keeping them high for a long period of time type messages. So that’s counter to what Biden’s been telling us, which is, we won this war on inflation, and we’re going to be able to not just pause rates, but ultimately they’re going to come down. And Jerome Powell at the Fed has been saying the same thing, but in reality, that’s not where we’re headed. So what are the implications of that? Lt so the implications of that are the IMF International Monetary Fund came out, I think it was on Monday no, October 11.

October 11. The United States debt situation looks unsustainable and corporate defaults are rising, said the IMF. So let’s break this down in this research paper and article, the debt situation is unsustainable. They said America has the most dangerous level of debt of any country. It’s. Like what? This is america. I mean, look at countries like Zimbabwe and other crazy places that have debt coming out of their eyeballs, and they said America is actually the worst.

So why would they say that? It’s that and it’s unsustainable. Well, you look at our level of debt, it’s $33 trillion. You look at the ability to pay off that debt. Big shot across the bow, big sucker punch from the BRICS nations on August 22 through the 24th. When they met, they said, we’re de dollarizing the world. This is our objective, and it’s irrevocable. So they’re taking away the petrodollar status, right? And then they’re taking away the world’s reserve currency status by initiating policies that trade in their own currencies with 70% of the world’s population.

So here’s why the IMF just said our debt is unstable. America is the worst country with debt in the world, right? So it’s because we don’t have capital inflow coming in, not enough inflow to even pay our expenses, right? That’s unsustainable. That’s what unsustainable means. It’s like we don’t have enough to keep paying our bills without printing money. Like there’s no tomorrow, because it’s not just coming in.

So if they have to print I’m just connecting some dots here. If they have to print to make ends meet because the current debt situation is unsustainable, what comes next? Raising of rates even more because they’re printing money that’s causing more inflation, and they can’t even tackle the inflation yet. So interest rates are going to go up, but already without interest rates going up. This is my prediction for 2024 because it smells a lot like 2008 and nine.

And that is back then, different time, different place, we didn’t have rising interest rates. In fact, interest rates were coming down because in 2009 it was the first year of like zerp zero interest rate policy to try to stimulate the economy after that Great Recession, right? So interest rates came down, people still couldn’t afford to pay their debts. People still couldn’t afford to survive. Corporate bankruptcies were through the roof.

I mean, it was bad back then, bankruptcy after bankruptcy after bankruptcy. Well, what I think is going to happen in 2024 is going to make that look like kindergarten, right? Because what’s different this time, interest rates are through the roof. The highest interest rates we’ve had in over 40 years. So now when you add up what happened during COVID to small business owners, to entrepreneurs, to large companies all across the board, they spent their capital, they spent their rainy day fund just to survive during COVID because there were travel restrictions, shelter and place laws, restaurants couldn’t stay open.

People spent their wad just trying to stay alive. Right? So now, come to this point in history, there’s no backstop, there’s no savings account, there is no rainy day fund because people already used it. So in 2024, the reason why I think this is the biggest story that hasn’t been told is because in the past twelve months, interest rates have more than doubled, literally more than doubled in the last twelve months.

So every company that has a corporate loan, let’s just say they’ve had it for a couple of years and it comes due, right? Well, if it would have come due anytime over the last year, it’s like, well, interest rates aren’t really go up. They were going up, but it’s not that big of a deal yet. Well, they’ve now doubled over the last twelve months, so they’re going to renew at double the interest rate when their capital starved and they have no money.

I think corporate bankruptcies are going to hit an all time record high in 2024 because of that. And you got to think lt, it’s not just companies that have run out of money. The federal government’s running out of money, right? Which I just had the big debt ceiling talks. So I was doing a little bit of look back throughout history over the last week and 1776, we had zero debt, right? Day one, we didn’t have enough time to spend like drunken sailors, right? Give us time.

We will. But we had zero debt in America on day one as a country. Now, 1980, when President Reagan became president, so that’s 1776 to 1980, that’s 204 years, right? So the national debt when Reagan became president was 900 and something billion. It was less than a trillion dollars. So let’s just call it a trillion, zero to a trillion in debt in 204 years. Now let’s compare that to today in the first eleven well, actually the first ten months of this year, we already have added $1.

5 trillion to the national debt in ten months. 1. 5 trillion, which took America 204 years to amass. 1 trillion. Right. So it’s like we’re out of control. So when we have this raising of interest rates to slow down inflation, it’s going to impact everybody with debt. We just added more debt as a country in the last ten months than it took us 204 years from the inception of our country until Reagan to accumulate.

This is bad. It’s truly bad. And that is unsustainable fiscal policy. Not according to some Republican blogger that’s basically saying biden stinks because he’s printing so much money. This is coming from the IMF, the International Monetary Fund, that’s kind of on the globalist side, along with Biden. They are the globalist, right? Right. So they’re saying this is unsustainable. America can’t do it under unchanged policies. Debt dynamics in the US are very unfavorable.

I would say that was a kind way for them to say the US. Is toast. Unless they get a new president or a change in Congress that stops spending money, that lowers interest rates, that lowers taxes, that creates jobs, then we have a chance. Right. But we don’t have that right now. We have the opposite. And so one of the things I was showing you here, an analyst said that as the side effects of the Fed’s interest rate hikes become more apparent, corporate debt repayment pressures are increasing.

As of the end of August, more than 450 US. Companies had filed for bankruptcy protection this year, more than in the past two years combined. Yeah, so that amplifies everything I just said. Now, how much debt do those companies have? I don’t know if that article tells it, but I know the answer because I read it this weekend. $2 trillion of corporate debt comes due in 2024. Oh, my goodness.

2 trillion. That’s not the US. Economy. These are companies mom and pops to. Large corporations have over $2 trillion of debt that comes due in 2024 that needs to be refinanced at double the interest rate. Man, that’s devastating. Yeah. And then we got the information about the banks that I was sharing with you earlier. 50 plus major US. Banks closing their doors. Bank of America 21. Wells Fargo, 15.

US. Bank closes, nine. And chase three. That’s 54 banks that had to close. So that stockpile of bank closings continue. And you’ve talked about this for months now, how this is playing right into the CBDC program that they have set up for all of yeah. I mean, so the rationale for any of your new viewers, the rationale we would say, why does this play right into that? Was because central bank digital currency is the ultimate loss of financial freedom and privacy, right? Because it’s digital money that they can cut you off from buying or selling if they don’t like your ideology.

That’s their words, not mine. So you’ve got independent bank owners like you and me that are God fearing patriots. What are they going to do when this juggernaut comes down the road? And they said, hey, bankers, you got to go into the Fed now app. You have to be part of the FDI system and part of this federal system and have central bank digital currency because we want to control your bank, right? So I know a lot of bank owners that are saying, over my dead body, there’s no way we would ever do that, right? So what’s happening in the industry is consolidation.

And I think by design, Fed policies are killing small banks, truly by design, because during COVID the reserve requirement at banks was reduced down to zero. So from 10% to zero. Meaning what? Meaning if it were ten, let’s just say the reserve requirement were ten, for every $100 you deposit, the bank could lend out 90 and keep $10 back. So that’s what fractional reserve banking is all about.

In COVID, in March of 2020, they changed that to zero. Banks didn’t have to have any money on hand, which is why you had Silicon Valley Bank, Signature Bank, Silvergate Bank, Credit Suisse, First Republic all went belly up because there was no capital. Right? The Fed, by their own design and policy, told banks that they don’t have to keep any money on hand. Loan it all out, try to stimulate the economy, try to grow the economy.

Let’s get the money out there, right? That’s their theory. Well, that works. When people have disposable income, they can go to their home equity lines and continue to spend money or whatever. But when people are tapped out doesn’t work. When wages are declining, when inflation is persisting, when interest rates are going up to slow down the inflation, there’s more withdrawals coming out of the banks than are going in in deposits.

That’s what caused the bank runs, right? You had more money coming out than money going in, and they’re already capital starved because they had 0% reserve requirement for years. Right? Now, let’s look at what they just did under the Basil Three Accord, which finally kicked in, I think on October 1, they changed the reserve requirements, not back to where they were at ten, but to 20%. So they’re bragging about this, saying, look, and part of this makes sense to me, but part of it’s devastating.

The part that makes sense is, hey, let’s stop some of these stupid bank failures. Let’s keep people’s money more at a safe position and have the reserve requirement be 20%, meaning there’s more money on hand to fund withdrawals than there are deposits. So we’re moving it to 20%. Okay, so in theory that sounds fine, right? But in reality, where were they coming from? Zero. See, if you were a billion dollar bank and you had a 10% reserve requirement, you’d have to have $100 million in cash, right? But when they’ve had zero, it’s zero.

So what if you’re the same billion dollar bank and they just changed the reserve requirement on October 1 to 20? That means you’d have to have 200 million in reserves. Well, what if you had zero? Where are you going to come up with this 200 million? And they would violate federal rules and those administrative rulings, and so they would be ripe for a buyout. Right? So this is where Morgan Chase, bank of America, Citibank buying up all these distressed or banks that can’t comply with the new standards.

They’re being consolidated into a few massive, really big banks as these smaller independent banks are going out of business. This is why you’re seeing these branch closures that you just talked about, right? Because I don’t think they can afford the reserve requirement. And if you can’t meet that reserve requirement, well, you lose your Federal Charter, you’re done as a bank. Right. So there’s consolidation. And if you’re the shepherd in a field with a bunch of sheep, it’s much easier to control seven or eight sheep than it is thousands of them.

Right? I mean, some of them are going to be jumping off cliffs or drinking water out of a river, chasing butterflies or fighting with each other. It’s like or protecting them from the wolves. You just have a lot on your mind if you have that many sheep. But if you only have seven, it’s really easy to monitor them and to control them. This is what I think is happening in the banking world, massive consolidation.

So the big JP, Morgan Chase, Citibank, bank of America, Wells Fargo, US Bank, these big money center banks can actually consolidate all these smaller banks into them. And they’re the ones behind the CBDC system to begin with. So therefore, it’s easy to control the masses. Yeah, it’s interesting because you were talking about ECB in Europe and we’re talking about CBDC, and I saw this from FX Hedge. ECB starts preparation for digital Euro in Multi year project.

That’s from Reuters. The European Central Bank took steps towards launching a digital version of the Euro that would let people in 20 countries make electronic payments securely and free of charge. There you go. That’s October 18. Yeah. Wow. It’s all coming together. It’s coming together. I mean, everything we’ve been talking about, these are one of those kind of things where it’s like, man, I wish I was wrong.

Really? I don’t want this, but when we’re talking about this, we weren’t wrong. We just had wisdom and foresight. God gives us right? And so shouting from the rooftops, the warning signs, and now that it’s happening, it’s like, Man, I wish I was wrong. But I’m glad that we were right, that we’re able to protect a lot of people and get them out of harm’s way. I mean, that’s why we’re here.

Be more watchmen on the wall. But this is going to change society forever because once you go digital in your currency, you’re really not going back. At least those big, they’re not going back. Which is why you don’t want to have your money in that kind of a system because it’s going to be very difficult to get it out. So prior to that happening, you start allocating into strength, start allocating into non digital assets, non paper assets like gold and silver as a mechanism to protect your freedom, but also as a mechanism to allocate into something that’s growing.

I mean, gold and silver do very well during times of inflationary pressures, political chaos, geopolitical conflict, uncertainty, doubt. I mean, that’s when they do well. And that’s pretty much what we have right now. Yeah, so when you guys support folks and it comes down to getting out of this system again, can you share with folks what you guys do to provide support? So when people call in, so the next steps would be, it’s like, hey, I saw this link with Kirk and lt talking.

Or you give us a call. It’s 720605 3900, and just say, lt sent you. Or go to that link that’s on the screen, and then you’ll talk to one of our schedulers, our client concierge team, that will get you on with an advisor, myself or one of my team to answer your questions, to dig deep, to put together a strategy that will navigate through the test of time.

Because to me, Alti, that’s where our journey begins, not ends. See, most companies, they’re just all about the sale, saying, what can we sell somebody today and make a buck? Right? And then they make a commission when you come and when you go, and they forget about you in between, where we’re different is it’s a people over profit model. I really love people. It’s God’s way of doing business.

Right? So to me, the relationship is key. The transactions are like the necessary evil. You have to buy to get into a trend. You sell to get out of one. Sure they’re necessary. But to me, that holding your hand through the economy, talking about how the puzzle pieces of politics and economics and the spiritual climate we’re living in, the social climate, all intertwine. And that paints a big picture of what makes the most sense to allocate into.

It really does. And that’s what we will do week after week after week, is move forward with video emails where I’m explaining those things to our clients to make sure you’re in the right place at the right time. The majority of the perfect perfect. And so when they reach out to you, you’ll have somebody answer the call. They’ll go through their finances and more and basically talk about the transfer of IRAs to precious metals, I’m hearing that correct.

Yeah. And then they can also get silver and gold from you without the IRA also. And so great system that you have set up there for many folks, and we can go more into detail soon. We’re going to be hopefully going live with folks able to type in questions and answers here in the future, and we’ll keep you guys updated on that. I’ve been working with Rumble on it, and so we definitely look forward to more interviews, especially when we go live.

Dr. Elliott, I know folks would like to ask questions. Yeah, for sure. We’re getting close to that. But anyway, we continue to plug ahead, stay in prayer. And folks, just keeping you aware of what’s going on, it’s important to expose this evil. I believe it’s evil. And do not let them trick you into this world system. Government, please. It’s very important. Again, Nwino. com forward slash golds. Below this video, just click on that and reach out to Dr.

Kirkhell and his team and they’d love to hear from you. Thanks again. Anything in closing before we know, I was reading something this week, and it was a really good quote. I can’t remember that. I don’t know who the lady who wrote it was. Somebody named Daphne Demarier, some kind of an author. She said this what might have been and what could have been. Those are the two saddest phrases in the English language, right? And she’s right.

So a lot of times people don’t do something because A, they’ve never done it before. Fear of making a mistake like they made in the past, or C, fear of making a mistake in the future because you don’t have a long time horizon to recover from something, right? So this is where this regret sets in. It’s like, oh, only what could have been if I would have listened to that still, small voice, that Holy Spirit guidance and gotten out of harm’s way and done so.

So to me, it got me thinking, if you don’t try to create the future you want, then you’re going to have to endure the future that you get, right? So I’d just say take that first leap of faith. And I know it’s hard sometimes calling somebody that you’ve never met. Just heard Kirk and lt talking. It’s like, I’ve never met them. I don’t trust people in today’s world.

You know what? Neither do I. Really don’t trust a lot of people. However, if you like what you’re hearing and it resonates with you, I would say respond to that still, small voice, give us a call. Because it doesn’t mean you have to do anything. It just means just ask your questions. And it’s either going to be confirmation to you or anti confirmation, and you just run with that.

And we’re here to bend over backwards to help you get to that point of peace in your decision making process, whatever it is. Absolutely amazing. Just love you guys and thank you once again for your support and helping in this time of definitely uneasiness across this Earth. And so, again, we look forward to talking to you again next week. Dr. Elliott, thank you so much once again for your input.

It’s my pleasure. We’ll talk soon. .