The Bank of Elon is About to Open, with i Allegedly

➡ I allegedly discussed Elon Musk is working on a new service called “Bank of Elon,” planning to make Twitter an app for banking and more. People are really excited about it.

➡ He’s got a license in Utah and 15 other states, like Maryland and Georgia, to move money between states, similar to PayPal but better.

➡ Musk’s plan includes using the app for crypto, bill payments, shopping, and handling money all in one place, aiming for convenience.

➡ This new bank will try to have lower fees than Visa and Mastercard, which could save a lot of money for businesses.

➡ Alongside this, Musk is focused on Tesla. With some electric car companies facing bankruptcy by 2024, Tesla stands as a strong choice.

➡ Chuck Norris, still active at 81, promotes healthy living and shares his tips in the video, inviting viewers to learn more.

➡ Real estate and car markets are seeing big discounts, like Hyundai’s rebate and cheap sales of Manhattan buildings, hinting at more such deals.

➡ Many home loans are unpaid, but banks are now starting to take back homes and sell them, signaling a change in the housing market.

➡ Experts like Kevin O’Leary think there’s a chance to buy properties cheaply soon due to these unpaid loans.

➡ House prices have become so high that average salaries in the U.S. can’t afford the average home, a situation not seen since World War II.

➡ There’s a big issue with commercial loans needing refinancing by 2024, as property values drop. Companies like Blackstone plan to buy these properties and new rental communities are being built.

➡ In California, foreclosures increased by 41% since COVID. Meanwhile, Spirit Airlines faces bankruptcy if it can’t merge, and financial experts predict major shifts in the real estate market, possibly benefiting younger buyers. Additionally, a collaboration between John Deere and Starlink is advancing farming technology.

Hey, it’s Dan. Welcome back. This is I allegedly, and I’ve got a good one for you today because the bank of Elon is one step closer to happening and we’ve got a lot to cover today. Plus, we have a sponsor, Chuck Norris and I will talk about him later. But let’s get into it. Elon Musk envisioned X when he bought Twitter and turned it into X as the everything app that you could do everything on my app.

And the most important thing is to be everything when it comes to banking. Okay? So I asked you guys, would you support Elon Musk? Would you support him and a bank? And to say that I got a few responses would be the understatement of the world. I got hundreds and hundreds of responses from you guys. You said, yes, you would support Elon Musk and his venture to run a bank.

Now, here’s the wild part of this, is that Utah just approved him for a transmitter license. Now, it’s not know antenna transmitter. It is a transmitter to be able to transfer money from state to state to state. And you’re thinking, oh, wow, he just got one of those approved. No, this is the 15th one. Maryland, Georgia, Massachusetts, Utah. Now, but there’s 15 banks. And this gives him the ability to be able to transfer money like PayPal does.

And he wants to, like he said, put PayPal out of business. And he wants to be the go to place where you will transfer money. He just divulged all his crypto holdings and he wants to be able to have the ability to have a bill paying operation all from one app. Okay. It’s funny. See this house right here? $11,500 a month. Hello. Step up and rent it. That can be your backyard for eleven five.

Now, the thing about this is that clearly Elon’s going to pull this off because the first state to get approved, he did it last June and did it kind of under the radar from everything. And I was kind of blown away when I started to read this because I’m thinking, okay, this is never going to happen. This is the pipe dream of all pipe dreams, but it is going to happen.

So you’re going to be able to go onto your app, be able to do shopping, be able to purchase things, and have it all be done under one source. Now, let me pull up this one. So don’t get the first state wrong, was New Hampshire. New Hampshire was the first state, plus Pennsylvania and Arizona. But guys, this is a big deal. Know, I’ve ridden this guy, really? And other than Jamie Dimon, who have I insulted more than Elon Musk? So that’s the other thing is I have so many people that have now sent me messages about how they bought Ford trucks and friend of a friend bought an f 150 lightning, and it’s the worst decision of his life.

But if you want to buy an electric vehicle, wouldn’t you go where you have a little bit of consistency? I’ve made fun of Tesla and the fact that these things are frozen rocks right now in Chicago, and they’ve got charging stations that are not open and people are freezing out there and can’t use the vehicles in the snow. But if you live in an area like this, wouldn’t you want just something that you wouldn’t have a problem with? But all these electric car companies that will go out of business, you’re going to see so many of them go bankrupt in 2024, and you should buy something that’s consistent.

So Bravo to Elon Musk, too, for that. Plus, I can’t show the clip because it’s from CNBC, but Jamie Dimon was on CNBC talking about the voting public, and for the first time he was. Know, you guys can slam the way people vote, but you got to look at where this country’s headed and the problems that we have. And I’m going to leave the clip below that. You can watch yourself, but it is spot on.

And the cool thing is the new channel that’s coming out that’s going to be uncensored, you’re going to be able to see stuff like that and not have a problem with it. So share your thoughts on this. Will you use the bank of Elon? Because this is the beginning of being able to have a checking account, savings account, money transfer account, to get rid of Visa and Mastercard.

I have done millions of dollars in business and sales through Visa and Mastercard, and the fees are outrageous. And yes, you can negotiate that, and yes, you can say it’s a cost of doing business. But PayPal right now, I believe it’s 3. 25% or 3. 5% of your transaction amount. Plus it’s either $0. 25 or forty cents a transaction. It’s incredibly expensive. This guy’s going to clobber that.

This guy’s going to make it free to buy things and run things. Now, you can sit there and say, that’s no big deal. It’s the cost of doing business. If you do $100,000 a month and you can save yourself almost 4%, that’s a big deal. It’s a lot of money when you start to add it up. So it’s going to be interesting to see how long it takes for him to get all 50 states.

But the fact that he’s been doing this for six months already tells me it’s going to happen. It’s going to happen. It’s going to happen. So let me know. Share your thoughts on this tide starting to come up in Balboa. It’s kind of a neat place to be right now. Let me know what you guys think about this. Let’s talk about our sponsor, Chuck Norris and morning kick.

Chuck Norris is 81 years old and he can work out for hours. He can exercise. He doesn’t have the aches and pains that he had even 20 years ago. He has done things to get a better workout and he wants to show you how to do that. If you go to the video below Chuckdefense. com, Dan, you can go out and you can see Chuck’s video on how he’s made just one change in his life and has made him completely reinvigorated.

His wife has done it. She said that she’s never felt better, but Chuck says he feels like he’s in his 50 and the guy’s 81 years old. So look at what the success that he’s had and see if it can benefit you. Check it out today. Use the link below. That’s the best place to get it. It’s chuckdefense. com, Dan. But just go to the link below in the video description and take a look at this today.

But there’s clearly he’s doing something right. Take a look at it today. Let’s talk about the sign of the times, guys, right now and that you’re going to see things go on sale like you’ve never seen in your lifetime ever. It’s going to be the best time to buy stuff, buy real estate. It’s going to be the best time to buy boats. It’s going to be the best time to buy a car.

It’s going to be the best time to buy an office building. Now with that being said, Hyundai is upset that their ionic five and six and their Kona car is not available for certain rebates from the federal government. So what they said was, heck, we’re going to make our own rebate, $7,500 rebate. So if you want to buy one of those electric cars, $7,500 rebate direct from the manufacturer, directly from Hyundai.

So again, do you do it? Do you not do it? I don’t know they’ve got such a problem right now. That’s your decision. The next one is Blackstone, the real estate company. Blackstone has an office building in Manhattan. Think about this office building. The office building was valued and sold in 2014 for $650,000,000. It’s at a 75% discount right now. You could take over the loan for $115,000,000.

They hired CBRE, the real estate giant, the real estate broker that I’m telling you, walk out. They do so much real estate leasing and sales here in California. They’re huge, but they’re around the country. They were hired to negotiate these instruments, which is bringing up my next point. You have assets, you have loans on these buildings that they are losing money hand over fist. So what do we do? Okay, well, what we’re going to do is you need to take a 400 million dollar mortgage and give it to somebody for $150,000,000.

People are getting discounts of easily 50% to 90% right now. When it comes to commercial real estate. This is going to be more happen more and more and more. Now, I had a trip to Las Vegas, went to the affiliate show for the channel and met with sponsors and things like that. It was absolutely fantastic, but happy to be home. It’s cold here, but it’s not nearly as cold as it was in Vegas.

But I got to meet with Doug, my foreclosure budy, and we sat down and had a nice two hour conversation about this. And I’m going to bring him on the channel next week. But I want you guys to understand where this is at and where the banks are at right now. When you have a mortgage and people have mortgages and you stop paying them back in the day, 15 years ago, ten years ago, you hit that third month mark that you were late.

They sent you the nod, the notice of default, and you better make a payment, you better get current or you’re going to have problems. You’re going to have massive fees. When you sign your mortgage, you have these fees. Well, this is getting to the point now that not only are the banks not dealing with that, but you have a rash of loans where the people are not paying and they’re not performing, just like the commercial loans.

Let’s forget the commercial for a second. Let’s just stick with houses. You have banks that have thousands of loans right now and they are not paying. People are not paying their mortgages right now. And what they’re not paying, the thing that’s happening is the banks are not foreclosing on these people right now. But this is about to turn. Kevin O’Leary from Shark Tank just said you’re going to see the biggest buying opportunity in our lifetimes.

Just like Grant Cardone said, when it comes to real estate and the fact that you’re going to have all of these defaults. So the notices of default are about to kick off and get sped up right now. Then you’re going to have no f notice of foreclosure until there is a sale. At the foreclosure sale, the loan and the house still belongs to that person. And the banks with COVID did everything they could to let these people stay in any store that they wanted to.

And they have stacks and stacks and stacks of these. Now banks got rid of their reo department, real estate owned department by the banks. That’s changing, guys. They’re coming back to where they’re going to start selling these properties and calling people in. And guys like Doug who goes out and posts the house, does the auctions and does the entire foreclosure transaction is only getting busier. But the Banks, now we’ve had enough, we’ve talked enough for two years about this.

It’s finally going to happen. Can you handle eight fold tenfold of the activity that you have right now? Yes, we can. Now what you’re seeing is the banks are finally fed up. Banks have got to do this. Now. It’s an election year. So because we live in Shenanigan town and because the way things are, the incumbents don’t want to have thousands of foreclosures on the record right now.

So they’re going to do everything they can to keep people in their houses. But it gets to a point that one thing I was going to do a video on this week is the american dream is dead because it is so expensive. Think about this. The average salary across the country does not qualify for the average home across the country right now. That’s the first time since World War II that it’s been like this.

You’re about to see a shift in business, but you’re also bound to see a very big accountability shift where they’re going to say, you know what? We want the money. It’s time to pay up. Dan, you’ve been behind in your mortgage 18 months. It’s time. But here is the thing. These people have been given deal after deal. We’ll take the payments and put them on the end. You’re going to pay the fees, but you get to stay in the same house.

People are doing things like that. This is done with Blackstone. Now, when you buy an office building, you would think it would be a black eye on a company like Blackstone. It’s not. It’s owned by a different LLC. And yes, it’s owned by the company, the parent company, but it’s over here and not over here. And, oh, yeah, we lost $500 million on that deal. Oh, well, we don’t care, but you can’t have that forever.

And the problem with it is in 2024, when you go to the commercial side, let’s talk about that. Now, you have easily, without a doubt, conservatively, $500 billion that has to be refinanced between now and 4 July. That won’t go down. It will not be able to be refinanced because you have a building that’s worth less, you have lower tenancy, and people are not making the money that they made before, and they can’t refinance something at double the price no matter what kind of business you are.

Oh, we’re Blackstone. Oh, and they’re going to buy all the foreclosures in. There’s going to be such a glut. And the renting communities that they’re talking about building, those are being done out of desperation with the banks because they can’t afford it. So they’re going to build these communities and have it be entire rental communities. My cousin was in Austin last week and was floored when he was driving to his job.

And he said, there’s an entire community here that they’re going to rent out 100% of the homes that are being built that are brand new. Okay. And you can sit there and say, that’s a sign of the times. The rent will be so expensive, it will be outrageous. But you’re seeing problems in this, and you’re going to see more notices of default and more notices of foreclosure. Now to finish this, California said since COVID started right now, and the story is below, foreclosures are up in the state.

Filings of foreclosures are up 41%, and you haven’t seen anything yet, but they’re already up 41% since 2019. Okay, time to pay up, guys. Troubles coming. You’re going to start to see more executives do a cya. Okay. Cover your. Okay. And that’s going to happen. Michael Lutnick is the CEO of Ryanair in the UK, and he has said that Boeing has had quality problems for years. And he said he shouted it to the mountaintops and wrote letters and covered the company because he found nothing but problems with Boeing.

So from a guy that just stepped off a plane, okay, I hope that my airline is being serviced properly and they’re great. But this guy, and read the story below out of the New York Post, it’s great talking about how they had a plane delivered once that had a wrench left under the plane, that some guy working on the plane delivered it and left the tools in the underbelly of the plane.

Hello. Okay, that’s insane, guys, but you’re starting to see more executives. Say, you know what? I told Deutsche bank that these guys were criminals. I told them, we’re not going to go down with these guys. You’re going to start to see as people go out of business, you’re going to see more people protect themselves, which they should do. You should have more, hey, this isn’t right type of things.

So Boeing with their 737 Max nine problem, this guy said, we’ve worn them forever. Great story below. Read that. Now, we just talked about in the last video about how Spirit Airlines, the Justice Department said that they shouldn’t merge with JetBlue. You’re going to see more businesses. And we talked about this a year ago, like they invented this idea of companies merging and it’s going to be for survival.

Now what happens today? Spirit Airlines steps forward and says, listen, if this merger doesn’t go through, most likely we’re going to be headed for bankruptcy. Now the Fed said this is great because we want competition in airlines. We don’t want to have a big player. No, you’re going to have another bankrupt player that’s going to owe hundreds of millions of dollars, if not billions of dollars to people go out of business during this time.

Now, again, I flew Frontier and I flew spirit, the two discount airlines. It was a God awful experience on both of them. They were both one out of ten. Okay, it was horrible. But for these guys not to be allowed to merge with JetBlue is a travesty. A travesty of all travesties. Okay, now I just grazed upon this earlier in the video, but this is important. Kevin O’Leary is talking about how bad real estate is going to be.

But the head of Cantor Fitzgerald, the financier company out of New York, the CEO, Howard Letnick, steps forward and said this is going to be a generational shift in real estate right now. And you have to look at the next two years and that it’s going to be catastrophic. Read the article because he’s talking about how you’re going to see more bank failures, more real estate failures, more real estate being foreclosed upon and given back to the bank in the residential space and in the commercial space.

And young people who have been priced out of the markets are finally going to get their opportunity to buy a home. So when you think about all these people that have bought the average house that just got into it, and I had a great video sent to me today about how if you want to get into real estate, don’t use your money, use somebody else’s money. And all the stuff that this guy said about how get in for as little as possible and rent the place out and make money from it.

What Mr. Letnick is talking about is the fact that you’re going to see all of these opportunities out there and that you’re going to see prices drop in markets that were good and markets that were oversold that people paid too much for. So with that being said, it’s just a matter of time until this comes to an end. So let me know what you think, guys, because I really think that when you look at the price of real estate right now and the six and a half percent interest rate that you’re going to pay right now, yes, you can have it bought down and you can have the builder do different things like that.

People are paying top dollar for these houses right now and it costs you twice as much to buy these houses. And people are priced out of this. And again, the american dream is gone, guys, if just of owning a home and normal home ownership. So you have to be wealthy to go out and purchase a home. It’s terrible. It’s sad. So let me know what you think about this.

This is one of the public docks. People can fish out here. And that’s just nice. If you kept going this way in the water, you’d go out to the ocean. This is the side of Newport beach where it ends. I’m on the island. And then next to the island, you’ve got the peninsula and you’ve got the wedge and all that stuff over there. And you’ve got the airport behind me with your $8 million house right there.

Okay, so share your thoughts on this stuff so far. What do you think? You think you’re going to see a drop in real estate prices? Do you think it’s going to just stay the same status quo over asking on an offer? What do you think about that? Let me know. I’m going to finish this video with these last few stories. And the first one is another Elon Musk story, but it’s Starlink, and the world’s largest tractor company is John Deere.

They make tractors, lawnmowers, everything like that. They just teamed up with Starlink to have tractors that have the latest technology for farming. And, I mean, read the article below because it’s pretty cool. Farmers are going to be able to have things that they’ve never had before as far as conditions, as far as to maximize the output that they can do in the tractor. I mean, it’s really, really cool what they’re doing.

So that’s kind of fascinating. And one thing that I get is I get certain sectors that write me a lot, and I have a lot of farmers that write me and talk about how bad crop yields have been in the last two years and how people don’t realize the problems we’re going to have in 2024 with food shortages and fun stuff like that. So there’s that plus all these articles that keep getting sent to me about how the frozen conditions around the country are killers to the electric cars and how these people cannot use these electric cars and cannot charge them in freezing conditions.

So who knew? We’ve heard stories about this. Now it’s a reality. And you’ve got cars that are dead that cannot take a charge because it’s too cold outside. Okay, crazy. Now, final, final story. Remember the movie snakes in a plane with Samuel L. Jackson? Two things about that. Number one, they built the first interactive website ever with the movie snakes in a plane. This was before apps. This was where you had a website and you could do interactive things with it.

And you could basically program it to call people in Samuel L. Jackson’s voice and talk about the movie and do things. Well, they had different sayings. Well, if you were creative, kind of like me, you could have Samuel L. Jackson call and yell at your friends. Okay? Just punch in the phone numbers and listen. Jeffrey, you’re an idiot. You and your boyfriend Stephen. Fantastic. Okay. Anyways, Thai Air Asia just had a snake on a plane.

So they’re flying. And they had a snake on the plane, inside the plane. Oh, that sounds safe. Okay, so needless to say, don’t fly Thai air Asia. I don’t think they want to be a sponsor anyway. Okay, but snakes, check out the video below because there’s a video of the snake on a plane. Okay, so we covered a lot today. Don’t forget to hit the like button. Don’t forget to subscribe to the channel.

If you want to email me, it’s hello at I allegedly. Plus, you should join our email list and the link will be below. Onward and upward, guys. It’s supposed to rain for three or four days, and that’s what that looks like prior to rain. Okay, I will see you guys very soon. .

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