➡ A company named Synapse collapsed, causing over $100 million in bank deposits to disappear. This event has raised concerns about the stability of banks and the safety of deposits, especially with the rise of FinTech. It’s suggested that people spread their risk by using multiple banks. The situation also highlights the potential benefits of decentralized blockchain technology for tracking financial transactions.
➡ The speaker warns of an impending banking crisis that could surpass the Great Depression, due to issues in the fintech sector and commercial mortgage-backed securities. He advises diversifying bank accounts and preparing for change, as well as having inflation hedges. He also predicts a drop in home prices during hyperinflation, as people focus on survival rather than loans. The speaker believes this economic downturn will result in high unemployment rates, similar to those during the Great Depression.
➡ The speaker believes that a significant crisis is coming, which will lead to the government reducing funding for social programs. This, in turn, will cause panic and financial instability, leading to a potential real estate crash as people will be unable to pay their bills. The speaker also mentions that large investment firms like Blackstone and Blackrock, which rely on debt and pension money, will be affected as people will stop contributing to their pensions. The speaker thanks his audience and encourages them to sign up for his free newsletter for more information.

Hello everyone, Economy Ninja here. Over a hundred million dollars in deposits just vanished from a bank. Depositors are left with nothing. This has actually been going on for a couple of months and it’s in the wake of a company called Synapse as it collapses and FinTech is imploding. You have to ask yourself, could this happen to you? The gamification of bank accounts and the popularity of these bank accounts made widely popular by YouTubers is a very important lesson. But the sad thing is I believe in the coming bank collapse you’re going to see brick and mortar banks take your deposits because of something called a bail-in.

I want to go through this right now but again I want to stress the fact, two facts, during this upcoming in the next year or two banking crisis that is well already underway not every bank is going to be taking depositors funds. That’s why it’s very important imperative actually that you separate your risk amongst multiple banks and no credit unions are just as at risk as other banks and the reason I say that is because they are highly leveraged against car loans and other risky style loans credit cards that are going to cause them to have issues in the future as well.

All right the story is that at CNBC nearly 109 million in deposits held for FinTech’s Yoda’s customers vanished in Synapse collapse bank says. It says ledgers of the failed FinTech middleman Synapse show that nearly all of the deposits held for customers of the banking app Yoda went missing weeks ago according to one of the lenders involved. A network of eight banks held 109 million in deposits for Yoda customers. Yoda as of April 11th evolved bank and trust said in a bankruptcy court letter filed late on Thursday. About one month later sorry the ledger showed just 1.4 million in Yoda funds held at one of the banks Evolve said it added that neither customers nor Evolve received funds in that time period.

These irregularities in Synapse’s ledgering of Yoda end user funds are just one example of the many discrepancies that Evolve has observed the bank said. A detailed investigation of what happened to these funds or alternatively why the Synapse provided ledger reflected money movement that did not actually occur must be undertaken. Let me stop and say this is exactly where blockchain technology picks up and fills the gap especially first and foremost decentralized blockchain technology where computers all around the world computers that may be at your house are running a specific code language that backs up and keeps track of all financial transactions for a specific currency or a specific company.

If you understand what I’m referring to and agree with what I’m saying about blockchain tech type one if you don’t understand what I just said please type two because I want to get a pulse for who we’re talking to today okay so I can best structure this video. Now it says here Evolve one of the key players in a deepening predicament that has left more than 100,000 fintech customers locked out of their bank accounts since May. I’m watching the the voting. Since May 11th has been attempting to piece together with other banks a record of who is owed what.

Its former partner Synapse which connected customer facing fintech apps to FDIC backed banks filed for bankruptcy in April amid disputes about customer balances. Let me also stop here and tell you that not all of these accounts were insured by FDIC and we’re going to find out that the truth about that in the coming months. Now I want to also stop and say that the coming banking collapse is going to be very serious and it is not going to need an an application to really get all haywiring. The events leading up to the great financial crisis and what caused the GFC to be so dire so bad was the packaging or bundling if you will of securities that were less than stellar credit worthiness let’s say and then they were salted on top the the files when you start auditing these files you’d have to go down a specific amount of files to see through all of the good rated credit to find all the crap and I believe let’s use that example and compare the amount of derivatives that are out right now against all of the securities worldwide.

We are in a time where we are the world is very confused on how strong the banking sector is. Fintech is the latest explosion in like the hot word on wall street but for the past six years fintech has been where it’s and now it’s utterly imploding and this company synapse as it implodes it’s going to take way more down than just a bald bank it’s going to or yada find yada bank it’s going to take a lot down because just like as synapse claims bankruptcy and there’s no real record of where this money was because these companies grew extremely fast and in every industry I’ve seen it so many times the faster you grow the faster you collapse because the growth phase is so explosive and it’s so exciting that most people forget the basics.

This has been the story you know really widely spread since the dot-com era when companies would explode the silicon valley model they would raise money they would hire like crazy and then after a while they’d figure out oh we don’t have the sales for all of these employees we start laying people off in mass. I’m trying to use everyday examples from our recent past to explain to you how bad the banking system is right now. I praise god made it a very conscious decision years ago when I started this youtube channel to turn down every single financial company that tried whether it be cryptocurrency or banking they contact me every day and I’ve actually worn some really big fence sitting style youtube channels.

You’re going to lose everything you have they’re going to come after you because you pushed and made millions and millions of dollars pushing these banks. I give the example of some of these stock brokerages that gamify the system. I’ll give you an example robinhood people you know there’s a high customer acquisition cost but they make a lot of money on the back end convincing people to use their systems and they gamify it and then when things go bad in the stock market they freeze your ability to buy or sell a security that you would previously bought or sold and that’s their way of clearing their books but most people do not know how this works.

This is why I’ve been very adamant type three just be my witness if I’ve been warning people for years to have multiple bank accounts not having everything in one bank account that is extremely extremely dangerous. There are people that I have watched online talk about that have had you know between fifty thousand and and three hundred thousand dollars in yada and all of their funds are frozen. They had everything in there it’s gone it’s frozen. Will the FDIC step in perhaps you have to remember last July a year ago the FDIC announced that they were completely insolvent and had to go to the all the large banks the federal reserve said well we can’t let the regional banks pay higher insurance costs to to restimulate the FDIC because they’re broke they’re broke we have seven over seven hundred banks insolvent right now.

The greatest money printing scheme behind the scenes to uphold the banking system is going on right now but I want you to understand they are going to actually pull the plug. Many people cannot understand this uh concept when I talk about it because they think that why would the CEO of a bank pull the plug because then his money would be worthless no that’s not how it works they can go and start another company they don’t go to jail. As a matter of fact knowing ahead of time they’re moving in and out of certain assets similar to what all the billionaires are doing is they’re selling their stocks.

I had yet one more person today tell me how great their stock portfolio was and I go well yeah you’re about to be holding the bag and the person actually told me well back in 08 I was holding the bag I remember my portfolio was worth you know millions of dollars and it got cut down over 75 losses he lost 75 and I go you need to sell some that stuff and pay off some debt and he goes yeah but I’m making too much money and I go you’re about to lose all that money again we have seen a time think about this there is there is no such thing as a time like today when Americans can say yeah I’ve watched the stock market fall drop 50 percent in twice in the last 30 years that’s never happened it’s never happened in that short of time frame yeah I’ve seen more than a 50 loss in the stock market indexes not once but twice yet today we are in the age where people are running right off that mountain why because there’s a sheep right in front of him and a sheep right in front of her you know it’s a line of people sheep just bailing off we have the greatest banking crisis since the great depression and I believe in the next 12 months it’s going to surpass the depression how do you what do you think about that type five if you understand how serious this is and you’re doing something about it type six if you’re like I think this guy is an alarmist because I’m sure they’re going to be people like that and the crazy thing about what I’m speaking of and look at all the people that understand what’s going on the most unbelievable thing is that these things are a slow rolling train wreck crashes don’t happen overnight but when CNN finally announces it to you it’ll feel like overnight when the CNBC talking heads or the yahoo finances of the world of fox business absolute tools tell you okay the markets are crashing now that’s when you’re going to run for the door think about people from yada that have their money all in the bank and they could have simply watched this channel for the last two years as I’ve been saying separate your bank accounts perhaps the person with a hundred thousand dollars would have had four different bank accounts yada being one of them because they promised you this amazing interest amazing interest when they are promising you interest that’s better than the big banks there’s probably a reason for that I also want to remind you that these banks are called non-banks they actually cannot access the Federal Reserve window I know this because I was working on my own bank back in 2017 and I was working on all the accreditation to be able to borrow money from the Fed window they their cost for money is higher fintech is going to absolutely implode for one reason or one reason only and I’m going to tell you this right now and then we’re going to timestamp this mark my words it’s not because all of the fintech projects out there are bad it’s actually quite the opposite it’s because of a couple of projects that are imploding right now are going to give people either a bad taste in their mouth or cause them to go risk on or risk off I mean I apologize risk off they’re going to think twice about putting money into these newer projects and that’s going to drag down that entire sector very similar to what we’ve seen the last two years the commercial mortgage backed securities and you’ve all been able to see my predictions for CMBS meltdown what a little over two years ago it started and now that is just a snowball that’s running out of control well I also you know if anyone can remember two November’s ago I did a video you can go back and look two November’s ago not last one but the one before that I did a series of three videos saying the banking crisis will begin in the first quarter second quarter of the end of the first quarter second quarter of 2023 I nailed it within about 30 days and then you know to everybody that remembers that type seven is good the reason why I say this is not the two-pound horn it’s because of and it’s not because I’m brilliant it’s because of straight logic and the lag effect from where you get your news and how recent it is most people their news comes from you know when it comes to economics it comes from government statistics or government numbers or it comes from quarterly or annual company reports that are publicly traded and they’re giving you a slice of the past and things change overnight so fast they do a pull u-turn so fast that your head will spin and that is where true understanding and knowledge is based on the ability to adapt to change quickly that is what makes a successful man or woman as opposed to one that is unsuccessful the ability to adapt to change on the blink at the blink of an eye or the drop of a dime is what will make you successful but how do you adapt to such change because change is very uncomfortable it’s by having multiple plans and always considering the opposite of how you feel the future is going to be especially when it comes to finance is this speaking to anybody right now type yes or no if it is or not because so many people go what should I do with my bank account I said well how much you got in there one guy says I got eight hundred thousand dollars in there I’m like what are you thinking why wouldn’t you have four or five bank accounts with a hundred k 130 k each in them why wouldn’t you make sure they’re insured yeah I get it I agree the FDIC is completely insolvent why wouldn’t you at least head your bet with a little bit more you know the other thing that makes me really excited about this movement for this moment in time and I say a movement because so many of you are getting ready it’s the first time in history that humans actually know what’s coming before it comes right I’m gonna get to that in a second Brady that’s a good question let me get to that because I’ll forget it um is that you don’t need a lot to be ready for this you just need your ducks in a row your credit in a good spot and have a little bit of cash off to the side and some inflation hedges you know Brady just asked a question and it’s a great question because I get it a lot how will inflation increase but home prices will come down has this ever happened it absolutely has see the only way that home prices can increase because homes if you understand how this concept is most people don’t even though it’s obvious you can only keep pushing the housing market up based on the availability of credit and the terms of that credit there’s available credit and the terms of credit whether you know how much it costs to get the loan and how much the loan will cost month after month year after year in the form of an interest rate payment are two totally different things and during hyperinflation people aren’t racing out to go and get loans why because as the inflation increases and gets worse central banks have to act and investors also react and they ask for more interest for any loans are going to come out with you know as far as you know they’re going to loan money out they want more of an interest to stay up with inflation and the central banks start printing money but they can never bring that rate down truly because it’ll cause hyperinflation so people don’t focus on homes they focus on surviving unemployment rises so as unemployment rises there are fewer people to go out there and get mortgages now now think about this the only thing that creates a high housing price and keeps it high is demand or the final part of a plateau in our economic or real estate cycle as the plateau comes to a complete stop stalls and then turns downwards it’s because nobody’s borrowing everybody’s handcuffed with their lower rates and they don’t start moving they don’t the velocity transactions aren’t there so during times of hyperinflation the only time real estate and expensive assets go up is if all of a sudden banks are out there loaning tons of money for people to buy those assets unless they had hedged prior and i’ll give an example in the last hyperinflation in venezuela stock market went up like nineteen thousand percent however food and energy went up like 24 25 000 percent some crazy number remember doing this study about six years ago an ounce of gold would buy a small house at the end of this because as the stock market rose in value yet it did not keep up with the rising cost of food and energy gold also went up and real estate compared to other assets fell dramatically in this scenario it’s gold this is what i’ve been preparing everyone for and i want to thank every single one of you and i’m going to put a link down to my uh free newsletter and the reason why is if you sign up for it it just once a day an email come with all the videos i make and a synopsis of what’s going on in the world as far as finance and it’s our database to invite you to free amaze so you can actually ask me questions unlike i mean i just answered one here but it’s extremely hard to do it on live so we we put you know a thousand people in a room uh and we we start really knocking out for hours uh complex questions um and give you real life solutions so if you want to warn people i do believe this economic downturn will be much greater than uh the great financial crisis i believe that you will see unemployment at par with the great depression 25 i believe you will see one in four people out of work or at least the bare minimum severely underemployed and i also believe and this is the scariest thing of all of this i believe that uh government uh money is going to be pulled back due to a massive crisis on our hands and i don’t think people are ready for that i’m not referring to social security but for sure there are social programs that are going to be uh being pulled back not completely but less money out there and it’s going to cause a pure panic and it’s going to cause most of americans to stop paying their credit card bill or their their car payment and what that’s going to do is completely take them out of running to this next real estate crash i mean the real estate will crash simply because there’s no buyers and i know this sounds crazy because everyone would probably want to run to blackstone or blackrock you have to remember this blackstone and blackrock are built completely off of debt and the fact that they get your pension money in every week that’s how it works when everything turns down people stop putting into their pension as unemployment rises less money is put into pensions and you’re going to see more and more of this happen soon sooner than later later all right thank you so much main kittens for the super chat i thank you all for watching thank you to everybody that’s hitting the resubscribe button or if you’re not getting notifications you unsubscribe and then resubscribe really appreciate you this channel is growing blazing fast and i thank you it’s because of you i can’t wait to start bringing you better content through the zooms and things like that because we’re able to really get down to the nitty gritty on certain topics if you want to get it invites these free zoom calls let me know down below or just put a click the link for the free newsletter sign up and that’s where i’ll be get a hold of everyone all right with that being said i thank you so much for watching the economy ninja he’s out
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