Protect Your Future Before Its Too Late | I Allegedly

Hey, it’s Dan. Welcome back. You’re watching. I allegedly, and by popular demand, I’ve got Jack, the CEO of Patriot Gold, back. We’re going to talk about a lot of stuff, and I really appreciate you doing this because I always love to get Jack brought in. And you were driving to San Diego and I’m like, oh, I’ll meet you there. I’ll meet you down by the beach. And we just got lucky because it just stopped up raining.

So thank you, sir, so much for being here. Well, thank you for having me. Dan reached out to me. I have a tea time at Tory Pines getting ready for the Riviera next week, and just thought I’d stop by and spend a few minutes with you. So thank you for having me. No, it’s excellent. So there is so much to talk about with the economy, the stock market, Fincen, with everything.

I mean, there’s so much on the table right now. Well, we see it happening with the regional banking collapse just this week and the week before. You see it’s eerily similar to what happened last year. And of course, the programs that they put in place last year expire in March. Yeah, absolutely. And there’s a program that I talked about in my last video that they thought all the banks thought they were going to extend that again, and they are not extending that.

They’re not extending it. And they’ve only raised interest rates since then, and they’re not extending that program. And now you’re looking at the New York community bank that had taken over a signature bank, because in order to compete with Morgan Chase and all the bigger banks, these smaller mid sized regional banks acquired these other smaller banks like Signature Silicon Valley, First Republic. And what they really did know, they put good money after bad, and they just accumulated their debt.

And now what they’re finding out is, I think New York community bank stock is down, what, 60%. 60% already in just 2024. Yeah, in just 2024. And what’s funny was Janet Yellen, and it’s not funny, but Janet Yellen recently said about the commercial real estate crises and these regional banks that she doesn’t really see it being quite like 2008. Not to worry. But her statement was eerily similar, eerily similar to Ben Bernanke.

In 2007, Ben Bernanke said the subprime mortgage crises won’t spill over to the retail market. And do you remember what happened in 2007? In 2008. But everybody, when they think about 2008, they think it was like some long weekend and that was like six weeks of bad periods it was years. It didn’t come back around till 2012. So you could see it be much worse this time. Do you know part of the reason that we’re in the problem that we’re in the national debt being now over 34 trillion was Obama back in 2010, because of that subprime mortgage crises, had tax cuts to the tune of $5 trillion.

So when you look at our $34 trillion debt, 5 trillion of that was thanks to the Obama administration. Another 3. 3 trillion is due to this administration with the COVID relief bill and the infrastructure bill. So that’s part of the reason that we have a debt that’s over $34 trillion at a time now when interest rates are the highest they’ve been in 40 years. And the cost to service our national debt now exceeds our defense budget.

You know what’s crazy is, you know, all these figures as far as the national debt and where it was 20 years ago, now it’s going to go up a trillion dollars in five months. That’s how out of control it is right now. Yeah, really? We’re in a place, we’re backed into a corner where our national debt with interest rates, because Jerome Powell just last week took the punch bowl away from the party again.

So this irrational exuberance that we’re seeing in the stock market is based on a March rate cut? Well, the March rate cut is not happening. Jerome Powell said we have to wait and see. It’s data dependent. We have to see how the rate hikes make their way through the economy and that it’s too early to tell by March if we’re going to cut rates. But he also hinted at that a may rate cut is also off the table.

So if a march and may rate cut is off the table, this irrational exuberance we see right now in the stock market is really just more of a melt up. Yeah, absolutely. Melt up in the stock market. It’s crazy. The other thing with the stock market itself, the S and P 500 was started in 1957, and there have been ten recessions since that time. And we are overdue, to say the least, for a recession.

We’re in the longest period of time between recessions that we’ve been in, in the history of the S and P. And as a matter of fact, one thing I do want to mention, I am not a certified financial planner, nor do I give tax advice. But JPMorgan, the chart guru of JPMorgan, forecasted the SP to pull back 23% by the summer months, and so did ubs. Okay, I got a better one for you.

What’s the average with those ten recessions? What’s the average amount that the stock market has gone down? 31%. Exactly 31%, as a matter of fact. So it’s 31%. And I was reading about it. In 2007, it pulled back over 50%. Right. And now we’re at the longest period of time in between recessions. It’s been 14 years. 14 years. So it’s the longest period of time in between recessions.

And when you have the JPMorgan stock market chart guru saying that the S and P is going to pull back 23% by the summer months. Bank of America is forecasting gold to hit $2,400 an ounce this summer. And Bloomberg is forecasting gold to go to $3,000 an ounce in 2024. Isn’t that crazy? Which is okay. Jack is the CEO of Patriot Gold. And again, guys, if you want the best in customer service, number one rated for seven years in a row, contact Patriot Gold.

Your IRA and 401K. They sell all types of precious metals. 888-330-1431 is the phone number. Call them or use the link below. 888-330-1431 but Jack, there is so much going on right now, and with the economy, with commercial real estate, nobody wants to look at this. And Janet Yellen, and I call her grandma Yellen, and I get a lot of feedback on that. But it is ridiculous to think that when you have buildings like the Xerox building that sold in 2014 for $111,000,000, which was a deal at the time, just sold in the last few days for $25 million.

It is crazy because they don’t have the occupancy that they need. Everyone is hearing about these layoffs. Snap just announced that they’re laying off 10% of its workforce. Amazon had laid off workers. A lot of the tech companies are laying off workers. So when you lay off workers, that’s fewer employees that are occupying that office space. So when you take that, as well as people now working from home, and you look at the 30% vacancy rate now in commercial real estate buildings, coupled with all time highs in interest rates, so you have a 30% vacancy rate, and interest rates are now as high as 7% or 8% on a commercial real estate loan.

But you have all the expenses, too, with running that building. You still have to pay the insurance, you still have to pay the electricity, you still have to pay for the water, the maintenance, everything that’s involved with that. That’s where people don’t get it, is that you’re seeing these buildings that have all these expenses. And I just saw an article a few days ago where New York was bragging about a 30% vacancy rate and how it’s coming back.

And I’m like, that’s a kiss of death, guys. It really is. It is. And one other thing I wanted to bring up as well, though, this week, I don’t know if you saw, but Catherine Austin Fitz. I did. I saw that. So she was the assistant in the department of Housing under George H. W. Bush, George Bush senior. And she said they are launching a full surveillance economy, that all of our powers are going to be taken away, that gold and silver can fight the tyranny.

And I was reading that, and then I saw that Jim Jordan penned a letter about Finsen. And what they’re now doing is they’re monitoring transactions that know travel, transportation, MAGA Trump. So they’re monitoring transactions that are travel or transportation that also have keywords like MAGA Trump. And they’re starting to really, we’re in a full surveillance economy, right? What? Okay, think of the keywords of where you guys are at.

I was just on a vacation and met people from around the country, and around the world, for that matter. But around the country that live different lifestyles, people that are hunters, people that are farmers, people that live different lifestyles. What’s the keyword that’s going to get you flagged? You know what I mean? You don’t know if you’re buying a bus ticket. If you’re buying a bus ticket, you get flagged.

If you support Trump, you get flagged. It’s crazy what’s going on right now with this full surveillance economy and with Vincent. And yes, I brought a gold american eagle with me right here. I always carry my lucky, I allegedly 1oz silver coin. Well, I brought this better, because last time you had brought one. So this time I wanted to bring one. A brilliant, uncirculated 1oz gold american eagle.

This is real money. JpMorgan himself said, gold is money. Everything else is credit. And this right here. So the cost of one of these is about $2,100. Gold right now is at $2,020 an ounce. Now, I had said last year, I said, going into 2024, gold is going to be over $2,000 an ounce, and we are not going to see gold below $2,000 an ounce again. And if you look back in October of 22, gold was 1650 an ounce.

Then we had the rate hikes all through 2023. So we had rate hikes all through 2023. Meanwhile, due to central bank gold purchases, gold went all the way as high as $2,180 an ounce. Currently, it’s at $2,025 an ounce. It’s over $2,000 an ounce right here. And Bloomberg is forecasting it to go to $3,000 an ounce. Wells Fargo is forecasting $3,000 an ounce. Bank of America, $2,400 an ounce by the summer months.

Yeah, it’s crazy. You don’t want to miss out on that. But the value of having physical gold isn’t that one thing that you’ve said. We filmed commercials one day, and the sound man was like, hey, how do I sell my gold? And it was great, because you said, wait a second, where we’re at right now, within a mile and a half from here, and you opened your phone, you said, you could sell this right now and get yourself, at the time, it was $2,040, but it’s gone up since then.

And you could, you could walk in, I could put the coin down, and I could walk out with 21 crisp $100 bills if I wanted to. But when you look at it and gold protecting the purchasing power of the dollar, back in 2010, our national debt was $13 trillion and gold was $1,000 an ounce. 2010, 13 trillion. Yeah, 13 trillion. And gold was $1,000 an ounce. Here we are now, ten years later, 2024, our national debt is 34 trillion and gold is $2,000 an ounce.

At the current rate that we’re going with the interest payment on our national debt, we’ll be at a $41 trillion debt by this time next year. $41 trillion debt. Crazy. By this time next year. Think about this, okay? There’s a term that people throw around, be your own central bank. That’s the advantage to having metals, though, in your retirement. And in having it personally, it really does fight everything right now, because I think that the banks are in real trouble.

I think that a lot of people need to have multiple banks. You need to have cash on hand, and you need to have physical metals on hand, too. Well, we have the 2024 election protection, no fee for Life IRa, where you can roll over a 401K from a previous employer or an IRA into a self directed IRA backed by physical gold and silver. And when you look right now at the stock market at all time highs, based entirely on this anticipation of a rate cut in March or a rate cut in May, that’s not happening.

Yeah. And when you have the JPMorgan stock market chart, guru and UBS both forecasting a 23% pullback in the SP. We’re at the longest time in between recessions. The average pullback is 31%. Not crazy, guys, when you think about that, it’s when. And you go, no, you’ve been talking not a matter of if, it’s a matter of when and when this is going to happen. It’s going to be a problem.

And with that problem, you need to be ready. I’ve preached this for the longest time. I’ve practiced this. And I met a lot of executives from a lot of big companies, economists from around the country that were telling me the same thing, that they haven’t seen this big of a stretch, that we haven’t had a problem, that people need to prepare themselves. And a lot of people just, you know what? It’s going to be fine.

I don’t think it’s going to happen this time. And not to mention, like I brought up before, this full surveillance economy, central bank, digital currencies, I mean, really gold and silver are the only place where you can hold your own money and have your own money and have it in hand. And one of the things they were talking about with Finsen and Catherine Austin Fitz was the truckers in Canada that refused to get vaccinated.

And then they froze their bank accounts. Yeah. So they seized their bank accounts in Canada. Canada. I remember back 1214 years ago, Greece, with the bank run back in Greece. And a lot of people said, well, that’s Greece, but Greece is part of the EU, which is one of the top three largest economies in the world. And meanwhile they limited the amount that you could withdraw from your bank because of the runs on banks.

And we could see bank runs again. Bank runs, because we saw them just last. Yeah. The Fed stepped in and they shored up signature and Silicon Valley and first republic. Yes, but that program expires here next month. Right? It’s next month and it’s not going to be extended. Jerome Powell has already said he’s not going to extend it. So they did the same things that they did in 2008.

And I’ve talked about this before. There’s a great movie called too big to fail where all the banks in 2008 had problems. So they gave them all an injection of cash and instead of them lending that money out and spurring the economy, they kept it. And what they did with the last bank was it bank Protection act that they just did a year ago, they kept that money.

And then a lot of them went out and used that money for risky investments bought t bills and things like that that they’ve lost money on now. And now they have to sell that and they’re not going to extend it. And that’s because of the interest rates going up now. There was also another indicator, the most closely watched indicator for a recession last week was ringing its most severe alarm that it’s rung in 40 years, which is the inverted yield curve.

And just last week it was the worst reading that it’s been in 40 years. 40 years. That’s where we’re at right now. And meanwhile, you have the stock market at all time highs, right? So when anything is at all time highs, it only really has one place to go. The bubble is about to burst, guys, to say the least. So this is exciting because for us that are old enough to remember what happened last time, you got to be ready, guys.

You have to protect yourself, protect your family, protect your future. Could you afford to lose 31% of your portfolio’s value? Got to think of it that way. I was going to say back in eight. It’s one thing back 15 years ago and the age that I was, but now at the age that I am now, because they’ve also forecasted that after this, we could be facing a lost decade ahead for the stock market because of these extreme valuations.

And what’s happened these last 14 years, the amount of money that’s been printed, the interest rates that were at zero, it was blackrock that had forecasted that we could be looking at a lost decade ahead for the stock market. Wow. So could I basically incur a 30% pullback and then a lost decade ahead? I couldn’t. Wow. Yeah, we’re too old for that now. My kids are in their twenty s now.

And I’ve explained this in great detail. They were children last time when this happened and just saw their dad go through this. And I said, I’m really happy that you’re living this and about to see this happen in your 20s because it’s going to really set you up and make you understand the importance of being prepared for the future. Yeah, well. And really being prepared for the future.

It’s not something maybe that we knew back when we are in our 20s, but a diversified portfolio diversifying into physical gold and silver as well. So if you have a portfolio of, say, real estate, cash, stocks, bonds, ncds, and diversifying with physical gold and silver. Absolutely. And I love silver because it’s so inexpensive. But if you guys ever sat down and learned everything that’s made from silver every year, there is a shortage of silver.

And the amount that 200 million ounce supply deficit. Now think of that, a 200 million ounce supply deficit. Medical, solar, EV cars, everything that’s used for reflection, everything that’s done, they don’t have it. So you can argue that it’s been suppressed from open, naked short positions by JPMorgan, and it’s just a matter of time. So if you want to get into something, too, the advantage to silver is that it is a tremendous deal.

Well, just recently, the Wall Street Journal had said the window of opportunity for silver is closing. And silver is poised for an explosive move in 2024. Because you hear a lot about silver being used in solar panels and electric vehicles. And half the demand for silver is tied into its industrial and utilitarian applications. You have the $1. 2 trillion infrastructure bill, which is going to require a lot of silver.

Right. But with the solar panels, new technology in solar panels are now requiring three to four times the amount of physical silver that previous technology on solar panels were requiring. Wow. So it’s three to four times the amount of silver. And Keith Newmeyer, who’s the CEO of first majestic silver, said automotive companies like Tesla should be purchasing silver mines, which could push prices to $125 an ounce. Wow.

And it’s at what, 24, 50 right now around that range. 22 and change. Wow. You have an opportunity to get into silver right now for about the cost of production. Wow. So the cost of production. And we saw about a year ago, premiums on silver american eagles were as high as 50% to 70%. And the reason being because there was no silver out there to make the silver american eagles.

So the premiums were as high as 50% to 70%. And like I said, the Wall Street Journal said silver is poised for an explosive move in 2024 when they do start cutting rates, whether it be may or whether it be in the summer months. And a lot of people anticipate that they’re going to be cutting rates at the three fed meetings just ahead of the election. Yes. In order to give the impression and appearance that the economy is doing better to try to in some way bolster Biden’s poor approval rating and poor numbers on the economy.

So when they do start cutting the rates ahead of the election, silver is just poised to take flow. That’s according to the Wall Street Journal. So as far as with the economy in general, how do you feel about the economy in general right now? Look, I think we can all feel it, whether it be at the grocery store or the gas pump. I’ll tell you a story. So there’s a restaurant that would send me an email about a Philly cheesesteak.

Every Monday, they do the Monday night Philly cheesesteaks. So about two weeks ago, I said to my wife, I got the email. I go, I’m going to go get one of these Philly cheesesteaks, because I’m from the east coast. I’m from New York. My sister and brother in law, they live in Philly. And I’ve spent a lot of time in Philly and had some real Philly cheesesteaks at Gino’s.

Oh, there you go. Which is a real Philly cheesesteak place. So I received this email, and I went and I called ahead, and you couldn’t order it. You had to go in and order it there. So I went in, I ordered it, and they flipped a little screen around, you know, the little iPad screen. Now that has the tip already in place. $26 for a Philly cheesesteak. And it had a $4 tip, 20% tip added in.

It was $30 for a Philly cheesesteak. Is that insane? And I can afford that. I said, I didn’t order two of them. And they said, no, they’re $30. I said, this better be the best Philly cheesesteak I have ever had. I couldn’t believe it. Also in the same area, an egg sandwich. Now, breakfast egg sandwich at this one restaurant is $12 for an egg. Isn’t that crazy? On a roll? So how is the economy right now? I mean, really, it’s a struggle.

It’s really hard on people. The thing I get a kick out of is inflation is subsiding. Well, you’ve got great. It’s only going to go up 3%, but you’ve got a $26 Philly cheesesteak sandwich. That is insane. They try to say, yeah, that inflation is subsiding, but airline tickets, hotels, groceries, even gas, I mean, really, it’s not subsiding. I don’t know what metrics they’re using or what numbers they’re using.

What they’re trying to do is, because of the labor participation rate, they no longer can support the rates. And they want to try to figure out a way to cut rates ahead of the election. It’s all smoke and mirrors. We’re being told how all these people are employed. Everything’s great, and we’re seeing real problems with all these vacancies. You’ve seen all these layoffs in 20 layoffs, but the employment is staying at 3.

7%. It’s crazy. Well, the most recent employment numbers that came out, did you know 90% of them were part time jobs? Yeah. Well, that part time jobs. So those aren’t accurate employment numbers when it’s a part time job. My son is a college student and he said, hey, does that mean that I have three jobs? Do they count me three times? And I said probably. They probably. It’s crazy, guys.

So thank you for being here again, guys. Number one rated best in class service. I’m not only a spokesman for this company, I am a customer. And I love these guys. Patriot Gold Group, contact them today, use the link below or call them at 888-330-1431 and get a free investor guide. Have them answer all your questions, but contact them today. You don’t want to miss out on this because it is going to take off and then you’re going to be chasing it at that point.

Well, we are consumer affairs top rated now for seven years in a row. A plus rated on the better business bureau. The only firm nationwide where you, the client, work directly with the owners. The only company nationwide where you, the client, work directly with the owners. We have the 2024 election protection, no fee for life, Ira. So yes, please give us a call. Look, when you’re looking at right now, JPMorgan UBS forecasting a 23% pullback.

When you look at the regional banks, I mean, what happened last week was just a warning shot. It’s just a warning shot of these regional banks collapsing because as we said, it expires next month. And when we start seeing the contagion of those regional banks collapsing and the bank runs, office buildings being given back, you’re seeing hotels being given back, you’re seeing a lot of problems right now with this.

And it’s not ending. So it’s not like they fixed it and there’s some solution. And oh, now it’s going to subside by summer. It’s just about to start, guys. So please don’t forget to hit the like button. Don’t forget to subscribe the channel if you have any questions, just like I’ve done with other people in the past, I will make sure Jack gets them. But send it on the question for Jack on the top.

And hello@iallegedly. com. And again, thank you for, thank you for having me. Thank you. This has been great. And he will still make his golf game, too. Yes, I will. My tea time. Well, look, the sun is coming out. It’s a beautiful day. So Tori Pines, I’ll be heading south and I’ll make my tea time. All right, guys. See you guys very soon. Thank you. .

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