Nov. 9, 2023 - The Truth Central - Dr. Jerome Corsi
28:49
U.S. Debt INTREST Now Over $1 TRILLION; U.S. Launches Air Strike on Iranian Group in Syria
Today on The Truth Central with Dr. Jerome Corsi:U.S. Debt Interest is now over $1 Trillion for the first timeThe Pentagon launches airstrikes against an Iranian group in SyriaThe Dems are patting themselves on their backs over some 2023 election wins, but here's why that won't translate come 2024How the Israel-Hamas War is upending EU energy securityAfghanistan's poppy production takes a big hitSwitzerland is keeping its nuclear plants running for longer than expected: why this is important.Visit The Truth Central website: https://www.thetruthcentral.comOUT NOW: Dr. Corsi's new book: The Truth About Neo-Marxism, Cultural Maoism and Anarchy. Pick up your copy today on Amazon: https://www.thetruthcentral.com/the-truth-about-neo-marxism-cultural-maoism-and-anarchy-exposing-woke-insanity-in-the-age-of-disinformation/Get your FREE copy of Dr. Corsi's new book with Swiss America CEO Dean Heskin, How the Coming Global Crash Will Create a Historic Gold Rush by calling: 800-519-6268Follow Dr. Jerome Corsi on Twitter: @corsijerome1Our link to where to get the Marco Polo 650-Page Book on the Hunter Biden laptop & Biden family crimes free online: https://www.thetruthcentral.com/marco-polo-publishes-650-page-book-on-hunter-biden-laptop-biden-family-crimes-available-free-online/Our Sponsors:MyVital https://www.thetruthcentral.com/myvitalc-ess60-in-organic-olive-oil/ Swiss America: https://www.swissamerica.com/offer/CorsiRMP.php The MacMillan Agency: https://www.thetruthcentral.com/the-macmillan-agency/ Pro Rapid Review: https://prorrt.com/thetruthcentralmembers/Become a supporter of this podcast: https://www.spreaker.com/podcast/the-truth-central-with-dr-jerome-corsi--5810661/support.
Hi there. I'm Dean Heskett, President and CEO of Swiss American Trading.
Thank you for tuning in to this most recent episode of our podcast, The Secret War on Cash.
Today, actually, I have joining us a senior account representative from Swiss America, Richard Cromwell.
Good morning, Rich.
Good morning, Dean.
A little tired today.
Got some allergies watching the debate last night.
I don't know if you saw that.
We were watching the RNC debate.
A little discouraged.
I think the Vic is the only one who brought it up.
It was amazing last night.
I had to turn to channel 12.
I think that's NBC or CNN, which my TV never goes to.
Well, it's a little, a little drag in here.
Well, I gotcha.
In fact, before we get started on today's topic, Rich, if you would tell our listeners a little bit about yourself, your industry experience and, you know, things along those lines.
You know, it's a funny question you asked that because I turned 60 years old this year.
You know, I started with Swiss America in 1997, worked in the coin industry prior to that, all the way back to 1987.
So, when I started to think about the question you're going to ask me today after graduating ADP, working, excuse me, graduated from Adelphi, then working as in the industry of accounting through automatic data processing, I started working Part-time, just like a lot of Americans have to do today just to survive.
I mean, back then, my initial starting salary in the accounting industry was $17,600.
Well, living in New York, as you know, you can't even survive on $17,600.
So, fortunately, I had a part-time job working with one of the coin industries, one of the best in New York at that particular time.
But the bottom line is now, I think I've been with Swiss America, what, about 26 years?
26, yeah.
Somewhere around there.
And about 36 in the entire industry.
But, you know, I was shocked, you know, when you asked me that question, because number one, I have clients, it's funny that you asked me that, call in all the time, and they're always, whether it's five years old client, or 10 year old client, or 20 year old client, you know, their first thing to me is, Rich, you're still there?
Which is a testament In a few years, it's probably going to be you're still alive.
I don't know.
Who knows?
But the bottom line is we like to say around here at Swiss America, some of these senior brokers, that we have trees in our parking lot older than most of these new companies that you hear on TV, radio, media, things of that nature.
I'll tell you what, success.
I got to say congrats to you.
42 years, you working with Craig, Swiss America.
It is really the Rock of Gibraltar.
It is the coin standard for the industry.
Well, that's very kind of you to say it.
Because of guys like you and a great team we have, that's exactly why, you know, Swiss America has had the longevity it has, the success it has.
And success that has been led, if you will, by, you know, our customers.
And we are so appreciative and grateful for that.
Well, you know, they always say, they always say, I want to end with this.
Swiss America, for most of the individuals that have worked there, and there's quite a few of us over 20, 25 people over there, that have really taken to heart Swiss America as their family.
Yes, absolutely.
That's true.
Yep.
Nothing, as Craig Smith always used to say, nothing better than making money than making money with friends and family.
And that's a culture he created.
And we hope to carry on for years and decades to come.
You can't pick your family, but you can pick your friends.
And I'm hoping you're one.
That's exactly right.
That's exactly right.
All right.
On to business.
Today, we are talking yet again about the banks.
And as I was preparing for today's show, I was asking myself, is this something we really want to talk about again?
Because we've covered it quite a few times.
The reason I think it's something we should, as we've mentioned before, It's not getting the exposure it should on the major networks.
And it's something that is becoming increasingly more common.
And certainly, no one wants to be blindsided with their bank closing or their accounts being frozen or anything along those lines.
And this particular article that's on your screen now, and for those of you listening, you can click on the link.
It's talking about problems being experienced by Chase customers.
We've talked about Chase before as they've had the quote glitches that have created a lot of financial stresses in people's lives recently.
And do I think these situations are intentional?
No.
But it doesn't change the fact that they are creating real life problems for depositors.
Using a bank should be, or at least for the most part, has always been like having an error in your car tires.
It's somewhat of a given.
Are there instances where we run into the unfortunate situation where, you know, a tire may have lost its error?
Well, sure, that can happen.
But anymore with the banks and the stability there, it seems like a hit or miss endeavor.
And adding to the stress of this situation, Chase has been telling customers that the situation has been resolved, and yet days later, they still have zero access to their funds.
Now, Rich, have you or any of your clients run into problems like this?
And I guess second to that, what can people do about this, if anything?
You know, Dean, when I was, like you said, researching for this podcast today, I looked back and I said, this almost dates back to 2018.
And what I mean by 2018, you can see in the New York Times article about banks closing.
Little without any information and warning to their customers.
They've had over 640 suspicious activity reports and who knows what's a suspicious activity report.
But the problem is they have examined over 16 million of these different reports over the course of the last couple years.
Most of these reports and at the end of the day only 4% of them actually become problems.
And what I mean by problems of whether it's cash transactions, whether it's drug I mean, this dates back all the way to, if you're older like myself, you remember the cash transaction reportings we had to implement, and that was to stop the drugs coming in basically from Miami and things of that nature.
So, these were policies that were instituted originally basically to stop the drug cartels.
We've all watched Scarface, and that was obviously to stop them from putting money into the bank.
The problem that we're having right now though, especially with Chase, which I found this very, very interesting, There's a new terminology out there, Dean, and I don't know if you're familiar with this, called de-banking cancelled culture.
And what does that really mean?
What is a de-banking cancelled culture?
That basically is where the bank gets to choose whether you, Dean, or Rich Cromwell here, Basically, is going to be allowed to have a deposit at their bank.
Is our thought process, is our voting, is our political issues, is our culture the same as what Chase wants us to be?
Not what we want to be, but are we part of that bank?
You know, I remember going back and as I was researching this, and everybody forgot about this because it was 2021.
The NCRF, which was one of the conservative 501C corporations that we had as a national, you know, republic backing, had their account closed in 2000 for no apparent reason.
They just went out and closed the bank.
So it's not just individuals, is my point.
It's also nonprofit organizations.
Why they closed it?
Well, weeks after they tried to close that, they stonewalled the answer for a number of weeks.
So they finally came back basically to the NCRF and they said, disclose the list of donors to us that have more than 10% of your operating budget.
Hand over all of your political candidates and who are supporting you.
The Volch criteria, the whole point of this subject is, why does the bank even need that information?
Because that information has nothing to do with responsibility of the bank and its account holder, vice versa.
It's not even relevant Danny, banking regulations are currently laws that are out there.
You know, this is not the only institution out there, whether it's Chase, whether it's Fidelity, that's going to threaten the freedom in the Information Act of what you do at your bank.
So the point I'm trying to make to most of my customers right now, it's not going to get better because as you have the invention of AI, which is artificial intelligence, you're going to see it.
It's probably the biggest stock out there.
You're going to have different things called cross-pollination.
Well, cross-pollination, and everybody thinks of the plants and they're going to go back and forth, but cross-pollination can also be talked about in AI in the banking industry.
Is it going to be so far-fetched from them at this point to say, well, Rich, you're now 60.
Like I said, it was my birthday.
And the bottom line is, are they going to cross-pollinate my HIPAA information, whether I have high cholesterol and I love to eat pizza every week.
Therefore, I'm not going to be a good candidate for the bank.
They give me a loan at 60 years old.
I don't know, Dean, but this invasion in terms of your privacy, your information, what is out there in the bank, really scares me because as I get older, I start to realize that it's not just the critical problems that we have in the bank, because we do have a lot of problems in the bank, but we'll get into that in a minute.
But it's also to the information, the gathering, whether it's through what you do, how much gas do you actually use every day?
Do I have a cooking stove?
We see this all the time.
Is it gas or is it electric?
I don't know.
Next thing you know, I could not be part of this whole green new deal.
And whether it's carving credits or going back and forth, these things scare me as an individual going into retirement, because the whole point of retirement, as you and I both know, Is we work hard.
I worked all my life to save a little bit of money.
Can we save individuals out there living paycheck to paycheck?
Probably not.
But we can, if you had stashed a little money away, guess what?
That money is important to you and to your family, whether you're going to pass it on or whether you just plan on living with the longevity we have now out there.
What is 82 for men?
and 85 for women in terms of age, we have to make these savings last. Well, is this government
intervention, and it's purposeful intervention, is that going to affect how my retirement is set up?
I don't know, Dean, what's your opinion on the whole subject?
Well, you know, it's a complicated sea that we find ourselves swimming in, all of us.
And that's part of the problem is that we are experiencing issues with banks.
We're seeing a lot of different landscape in terms of corporate America, albeit corporate real estate properties that are vacated currently.
What someone suggests might be a real estate market that's poised for a correction.
The same thing with stocks.
And you're right.
I mean, it's a There are so many things that we've, we grew accustomed to becoming the status quo or the norm in terms of our finances.
And now you take something as basic as banking, like we were just, you know, addressing through this article, and the instabilities there, banks freezing accounts, closing things down.
And, you know, we, in a few podcasts ago, we had Chris Agalestos on and one of the things he brought up, which I think is a good thing when you, you know, there are a lot of different ways that we can look at you've brought up.
But when you get down to a good suggestion he had
you know, keeping a coupl accounts for himself. He
his savings portion in 1 in a completely separate
his every day, you know, the bills type account there.
Diversifying, you know, yes, have your retirement and maybe some equity, some land, have some physical metal.
That's the whole key.
It's diversification because, again, any given day, there are so many different landmines, it seems, financially that a person might run into.
You need to have a good balance and know that, as the old saying goes, Rich, not all your eggs are in that one basket.
Well, thank you for that.
And another thing that, you know, on this topic of banks, I think part of the reason people are or should be concerned is that these accounts are being frozen at a time where we are experiencing a slew of overall bank failures or closures.
There have been six so far this year, the most recent being a smaller bank, Citizens out of Iowa, I believe.
And you can see on the article on your screen, The financial problems that are seemingly plaguing these banks seem to be only just getting started.
And with the way things are so interrelated in the markets, it's like knocking down a row of dominoes.
You knock one over and it causes a series of ripples everywhere.
Related to this, many experts have been pretty vocal over the last several months that as the banks may be reflecting our vulnerabilities in the banking system, there's a bigger picture threat where the cracks in the system could be devastating to the U.S.
dollar.
I mean, what implications do you see there, Rich?
You know, when I was researching that article you're talking about over in Iowa, Sac City Bank, and obviously it failed.
It's like what you just talked about in terms of jurisdiction.
Most people don't understand, but Sac City Bank was non-FDIC insured.
It was also a bank that had made many, many, many loans, a total of $17 million to one trucking company.
Why is that important to even bring up in this podcast?
Because they leveraged themselves and put themselves beholding onto one trucking company.
Now, obviously as trucking and that company had defaults and problems, You being a banker, going into that bank, putting my deposits in every day and just paying my bills, things of that nature.
I had no idea that they leveraged themselves to the hilt with one trucking company.
So on Monday, when I come in, next thing you know, it's closed.
It's gone.
It's under it.
The banks will not disclose to the individual how much risk they're taking, where their liabilities are.
You as a depositor, the minute you put that money in, Say I put that money in Sac City Bank, I gave them, I don't know, $10,000.
I thought, well, my money is safe.
It's there.
Well, lo and behold, out of that $10,000, which the bank's dirty little secret and no one wants to ever talk about, the minute you put that money in the bank, it's gone.
It's gone.
They've already lent nine of those dollars out to, in this particular case, a trucking company.
I didn't approve that.
I didn't want that trucking companies.
I didn't make that investment.
It's kind of like we saw this week as well.
We Web, you know, big company went bankrupt.
Forty seven billion dollars.
Everybody thinks, well, it's just another company bites the dust, as you said in many, many times.
Well, it's not just another company biting the dust.
That's forty seven billion dollars.
Somebody invested in that company.
Somebody put their money into that company.
And whether it's for the fact that, you know, because of covid or it just didn't work out.
And no one wants to live in New York.
They don't want to live in Seattle.
They don't want to live in here because of whether it's crime, whatever's happening, that problem.
The fact of the matter is that was a company just six years back that had probably the most profit, the most promise of profitability, as well as basically high tech nature of the beast was going to be the thing to invest in.
Did you invest in that?
Some people did because there's $47 billion gone, vanished from the entire stock market.
Because that company went under.
And people don't understand the importance of that.
You know, when you have insolvency with the bonds, you have commercial real estate defaults that are coming down the road.
We have zombie corporations and defaults that are coming down that we don't even know about, such as this Iowa banking.
We have auto loans at an all-time high.
Defaults are going left and right, decreasing the price of the value of the car when they take it back or repo it.
We have credit swaps again.
We have credit card defaults that are coming.
I don't know if you know this, but unfortunately, right now we've booked over a trillion dollars in credit card debts.
I mean, that's amazing to me that people, and it's not the luxury items.
They're not out there buying big screen TVs.
They're paying for groceries, food, things of that nature, just so they can survive.
It was funny as I was watching the RNC last night, they gave a great analogy.
It's not pulling that card up to the register.
Now they have to pull things out of that card just to make sure that they can afford to pay the bill.
It's shameful.
The icing on the cake to me, though, after looking at this whole thing, who is Chase?
We have Jamie Dimon.
Jamie Dimon, obviously the godfather of Chase, you know, things of that nature.
What has he done?
Watch what they do, not what they say.
He took and sold over a million shares of stock of Chase Bank.
Now, I'm the person sitting in Chase Bank and I see the CEO the
first time in over his entire history decide to sell his stocks for $140 million.
I don't know, Dean, would you be worried?
I mean, that's like you saying I'm going to sell all my shares of Swiss America.
I think I'd be a little concerned over Chase Manhattan Bank and getting back to your first job subject because of the
CEO doesn't trust his own shares of stocks.
Why should you?
Yeah, it is ironic.
He, you know, he he pulled out all these crazy, all this money out of Chase.
At the same time, all these depositors can't pull their money out of Chase.
There is kind of a cruel irony there.
I'm not laughing at this situation.
It's sad, but it is ironic.
You know, it's like this.
When I talk about whether it's the bank, you know, the news this week, which I think is very important as well.
I don't know if you know this, but this is the first time, according to Bloomberg, we've passed the $1 trillion mark.
What the heck does that mean?
One trillion.
I used to talk in millions, billions, you know, maybe I made a mistake before, but now I have to talk in trillions.
I mean, soon it'll be quad trillions.
I don't even know what that looks like.
But the point of the situation is this.
We now have topped over $1 trillion at the end of October.
In order to pay our interest debt.
That's what it costs us every single year.
Our current calculation, and they're using obviously the interest cost and annualized debt and market, has doubled over the past 19 months.
It's equivalent now to 16% of our entire federal budget, which by the way we haven't got a federal budget and every year we have to extend it.
But that's another whole subject we can get in on.
The U.S.
banks are now sitting on unrealized paper losses worth billions and billions of dollars.
Values of bonds have plummeted.
They have chosen to hold these and rewrite them rather than offload those investment, which is putting, again, the banks at risk, which is where your money sits.
And I want to tell all the people out there, You know, Janet Yellen is not helping us out either.
I don't know if you saw her cry this week.
She now says Americans should expect the decline in the United States dollar as a reserve currency.
Well, wait a minute.
Let me sit back and think about this.
So, what you're telling me right now is that the U.S.
is not only having the dollar devaluation, we have bilateral trades that are going on.
What does that mean?
Big word, bilateral trades.
We're no longer buying oil in dollars.
They're no longer beans, corn, wheat, exports, imports.
They're deciding, other countries, that they see us for what we really are.
The government debt right now, listeners, and you guys should understand this, Is now gonna surpass $50 trillion by 2033.
What does that actually mean?
That means $5.2 billion is piling up every single day.
I'm gonna say that again, $5.2 billion.
I have to read this from the article.
It's amazing.
This came from, where did this come?
Wall Street Journal again.
$20 trillion is to be added to our national debt over the course until 2020.
It's just impossible for us to pay that back.
Let me put that in perspective.
How much is $53, $54 trillion?
If I added up the gross domestic product of China, Japan, Germany, India, and they added all that up, their GDP is not even as great as $52 trillion.
Every day that we have this outstanding debt, and we will continue to have that outstanding debt, you're talking about $5.2 Billion dollars every single day.
That's $218 million every single hour.
These are crazy numbers over the next 10 years.
I don't ever think that's going to be a solution out there for the country.
And they talk about, like they did yesterday, we need to cut spending, we need to do this, we need to do that.
When you have a big ship, and we have a big ship, and you want to turn that ship around, it takes years to turn that ship around.
So we're already in a banking crisis.
We're already there.
The question is, what are you, the listener, going to do about it?
I have a solution, if you want me to talk about it.
I can.
Fire away.
Fire away.
All right.
The solution to this whole thing, I've been working in Swiss America, as I told you before, for over 26 years.
You have to become your own banker.
What does that mean?
That means you need to hold Gold and silver, other forms of investments that have no contingent liability.
They're not contingent on their taxes, things of that nature.
Unlike real estate or mutual funds or bonds, when you invest in your real estate, which is partially and probably the biggest asset most people own.
That's the home I sit in, I live in, I work in, whatever you want to call it nowadays because of COVID.
That's the biggest asset most people have.
But they forget that on a yearly basis, they have a contingent liability.
What is that?
That's the taxes.
They can raise your taxes every year.
You see nowadays because the fall season just went, you got to put gutters up to make sure your leaves are going to go down.
You got to repair the doors, you got to put the new air conditioning system in, yada, yada, yada.
You have a lot of maintenance problem with that.
You can do the same thing with physical gold and silver as if you're holding in your portfolio your home.
What does that mean?
Unlike similar stocks and bonds where you also have capital gains, you have to start to worry about geopolitical conditions, whether now it's an IRA, a Roth IRA, whether we want to get a Kiosk and things of that nature.
Obviously, those things can be changed, can be changed by the government, can also be seized by the government.
But on the other hand, your gold and silver that you hold in your hands is not bound to any country, to any currency.
It's been around for 6,000 years, as Craig used to always tell us.
And I go back to the old statement, which really hits hard.
Right now, I tell all my customers, and I talk to them every single day, I'm not so concerned, and you remember this from Willow Route, I'm not so concerned on the return on my money, as on the return of my money, especially when you bring up to these, you know, listeners that they can steal the money, not rephrase that, steal the money from the bank, but that's really what they're doing, or closing your bank account so you have no access to it.
Gold gives our investment, our investors, who we talk to daily, privacy, Freedom and the essentials that they're going to need as we go into this banking crisis.
It's not, you know, if you don't hold it, don't own it.
I'm going to show you a real quick picture and you're probably going to yell at me later about this, but this is what I have.
I'm sitting here holding it.
I'm going to show it to you.
This is a 1914 S $20 St.
Gaudens, mid state 64.
This is mine.
Wait, let me get the video.
Obviously, I'm not going to sell you my coin, because guess what?
Just like you, I'm going to need it.
The bottom line is, you can call our representative.
You know, I thought about this as coming on the podcast.
You know, you could talk to senior broker here, and the senior broker here, when they say senior, they really are senior.
I mean, like myself, I'm 60 years old now, but we have, and Dean, thank you for this.
We have brokers here that have over 25, 30 years experience with this company.
And yes, you can go on and read all you want to go on the internet, things of that nature.
But I don't understand why they just don't call Earl Brown, Johnny Collier, Bill Gordon, Kelly, Steve Moss, Tom Rodriguez.
I can go on and on myself that have over 25 years worth of experience.
This is a brain trust that you have developed with Craig Smith over the years.
Why not sit down, spend five, 10 minutes, Ask any question you want.
We're not going to try to sell you anything.
All we're going to try to do is help you navigate the troubles which Dean has always been bringing up.
And I got to say, the last thing when I was thinking about this, you know, investing in gold is obviously a wise decision for anyone because it gives you security, the independence, keeps you private, and all these subjects we're going through.
You're controlling your own wealth.
But I got to thank you for one thing.
I mean, when I looked at Swiss America, And I was saying, what's going on right now?
What's happening?
You have brought an evolution to the company to bring us into the 21st century.
Most people, and the common questions I get, how do I know how much is my gold worth?
You've come up with that solution.
We have the best online access.
You have timely updated portfolios, you can see immediately.
Dean's putting out real world news daily, weekly information, and nobody ever wants to talk about that.
So, thank God!
We have the first CEO, which was Craig Smith.
Now we have the second one.
Craig, don't get me wrong.
He was the best in the industry.
Respect the man to death.
Helped me a lot.
But now you're teaching me that with these online portals, CBDC coming, things of that nature.
How are my customers going to access?
And you've given them the ability to do so.
So I'm going to thank you on that one.
Well, I appreciate that.
And it's as the old saying goes, Rich, it takes a village and we've got a great village at that.
So no doubt about it.
I hope I helped.
It's all, forgive the expression, it's all gold that you've given everybody, so thank you for that.
It's been a pleasure having you here today.
And for those of you tuning in, thank you so much for doing so.
You've seen on your screen, and as Rich just mentioned, you can contact our offices to get a copy of the Secret War Report.
You can even get a copy of the book that I co-authored with Dr. Jerome Corsi about the historic gold rush.
Or if you're just looking for general information, how to protect maybe your retirement savings through an IRA, or just how to get physical gold or silver outside of an IRA.
Uh, we have information on all of that.
And as Rich mentioned, that there's no charge for it.
You can talk with one of our, uh, representatives.
And if it, upon getting information, upon having those conversations, you think this is a path that you and your family financially should be going down.
Uh, we're here to help you with that as well.
So again, be your own banker, get your goal before you can't get the goal.
Amen.
Amen.
So thank you so much.
And for those of you tuning in, please follow us on social media.
We'd love to stay in touch with you.
And if you haven't subscribed to this podcast, please do so.
We'd love to see you each week or each episode, I should say.
And please do feel free and comment because we'd love to also, you know, have you Hear what's on your mind and give you some thoughts and feedback perhaps or some kind of a dialogue there.
