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March 14, 2023 - Health Ranger - Mike Adams
01:19:07
Situation Update, Mar 14, 2023 - The spiral of FINANCIAL DOOM has been unleashed
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Welcome to the situation update for Tuesday, March 14th, 2021.
I'm Mike Adams here on Brighteon.com.
And look, I don't know what everybody's worried about.
The banks are just as safe as the vaccines.
Yeah, Joe Biden told me that.
No, seriously, this is, I mean, the bank failures have begun.
They're accelerating.
I've got a very special interview coming up for you here today with Andy Sheckman from Miles Franklin.
And as always, he just absolutely nails it.
I spoke with Chris Olson at Treasure Island, our gold and silver sponsor, earlier today.
He said the phone has been just ringing nonstop.
Same thing with Andy Sheckman.
I would imagine every gold and silver dealer in America right now is fielding just a flurry of calls because, well, Well, all of a sudden people get it.
All of a sudden, you know, once again, those of us who warn about this, we are seen as being correct again.
You know, we warn about the bank collapses and here they are.
Three banks collapsed in the last week.
Many more collapses are likely coming.
I'm not calling for them to collapse.
I don't want them to collapse.
I'm not even telling everybody to take their money out of the bank, by the way.
I think you should just take your money out of woke banks and get it into fiscally conservative banks, okay?
So yeah, transfer money to banks that are more likely to actually have an idea of what risk is instead of these woke banks like Silicon Valley Bank.
Turns out they had a...
They had Lesbian Awareness Day, but they didn't have Risk Assessment Awareness Day.
They didn't care about risk.
They cared about trans and LGBT and Lesbian Day.
They spent a whole month just focused on LGBT virtue signaling, but they didn't spend any time apparently thinking about how to diversify their customer deposits.
And that's what led to this total collapse, which has since been at least partially bailed out by the FDIC, leaving the FDIC with almost no money for future bank failures.
And that's a topic we're going to talk about today, including with Andy Sheckman.
But I have something I want to show you here.
This is actually a Trijicon case, but I want to show you.
And again, I'm not doing this.
They say, you know, don't flash your metals publicly.
But I've said over and over again that I own gold and silver.
And I've been buying gold and silver for a very long time, a little bit at a time.
And I want to show you that I believe in what I'm saying.
When I say that gold and silver, that their value will outlast the fall of gold, Or even, let's say, the fall of...
The United States of America, the fall of nations, the fall of central banks, the fall of currencies.
When I say that gold and silver will still have value after that, I mean it.
I've done my homework.
History tells the story.
And as a result, I just want to show you, I have gold and silver too.
So this is mostly silver.
I've got a few gold coins in there.
But let me show you.
One of these gold coins, if I can get it out...
One of these gold coins right now, here's a gold coin, is worth roughly, I don't know, $2,000 or between $1,900 and $2,000, something like that.
One coin.
So you can carry essentially $2,000 worth of gold in your pocket easily.
Now the silver coins, not as convenient.
These are silver rounds.
What are these?
Buffaloes?
Yeah.
These are silver buffaloes.
And these are worth, I don't know, $30 plus each, something like that.
And, yeah, I got a little collection here.
Well, when the banks fail, I can put this in a backpack if I have to.
I can use it to buy food.
I can use this as a barter item.
You know, I can get emergency medical supplies, and I can insert this into the local economic system so that people have currency, so they can buy and sell and trade.
And people can barter garden seeds and, you know, garden vegetables or ammunition or services or firearms or Diesel fuel or whatever, you know, lithium batteries or solar panels and silver.
And so that's why I have more silver than gold because silver is easy to trade because of smaller denomination.
And I encourage you to think about having a little stash like this so that when the day comes that the banking system fails and the big bank bail-in happens, you'll have a little case like this and you can get out your silver and you can still function. you'll have a little case like this and you can You can help people with it.
You might need to pay a hospital for medical treatment for a family member or a friend.
And, well, the banks are down.
Cash doesn't work.
Credit cards don't work.
So you can use silver coins.
You can save someone's life with that.
You can pay a doctor.
Or you can go to the grocery store.
You can pay for food with silver.
You could even help your neighbors with it.
See, I could buy food, hand it out at a local church, at a food pantry.
I could help people I know.
This is kind of condensed money, condensed value that can help a lot of people in a time of collapse.
So gold and silver is where it's at, folks.
All right, with that said, let's cover the most important dynamic happening right now.
A lot of critical headlines.
Be sure to check censored.news to see these headlines.
So here out of Exposé News, check out this headline.
This is from Vernon Coleman.
Well, actually, Rhoda Wilson, but she's citing Vernon Coleman.
The real inflation figure in the UK is now over 35%.
That folks, that's approaching 3% inflation per month, which means that your dollars, well, or British pounds in that case, but inflation is very close to 35% in the U.S., maybe not quite there yet.
But you're losing in the U.S. about 2% of the purchasing power of your dollars every month.
And in the U.K., you're losing close to 3% every month right now, based on real-world prices.
So you want to talk about a case for gold and silver?
How about not losing money?
Not losing the value of what you already have.
You see, the FDIC bailouts that are happening right now, are going to drain the FDIC. The FDIC only had maybe $100 billion, maximum $125 billion in its insurance bailout fund to start with.
And the three banks that have already failed are likely going to use up close to all that money, which means that any additional bank failures that happen, if the FDIC is going to bail them out, well, the FDIC has to get the money from somewhere.
Where is it going to come from?
Oh, yeah, the Fed is going to print the money.
They're just going to print it.
And so when they print money and inject it into the system, which is what's happening, it's going to cause more inflation.
And the value of the dollars that you already have will, of course, continue to erode.
And as a result, well, you're going to see prices skyrocket.
They say taxpayers don't have to bail out these bank failures.
Yes, you do.
You're going to see it in rising prices.
You're going to see it in inflation everywhere when you go to the grocery store.
When you buy gasoline, when you purchase clothes, when you buy a lawnmower, you're going to see inflation everywhere.
That's the tax upon you that's being used to bail out these banks.
Well, with inflation rising even more, the Federal Reserve, of course, is trying to, quote, fight inflation by raising interest rates.
And the more they raise interest rates, and it's now expected they will continue to raise rates in March, in May, June, and July.
I don't know about April, but in March, March 22nd roughly, they're expected to raise rates another 25 basis points.
That's going to cause more banks to lose more deposits because people will pull their money out of the banks and go into things like treasuries, which will pay higher interest rates at that point.
Or other types of more recent bonds.
So the banks will have a liquidity crisis.
More banks will fail because a lot of these banks have invested in long-term government bonds that have very low yields, such as 1.56% interest.
Well, if you're a bank and you try to sell those bonds early, you take a hit.
You take a big loss on those.
25%, 40%, maybe.
Could be 50% in certain cases, depending on how desperate they are to sell.
So then those banks lose money, they become insolvent, they collapse, and then the FDIC comes along and bails them out by printing more money, which causes more inflation.
Right?
So then the Fed raises interest rates more to fight that inflation, which causes more banks to fail, requiring more bailouts, requiring more money printing, causing more inflation, and you see where this goes.
This is a death spiral of the currency.
And that, my friends, is why gold and silver...
Are the perfect off-ramp to this.
Now I know some people are using crypto as well.
And crypto definitely has a place.
It's more portable.
It's easier to transact in crypto.
But then gold and silver have the advantage of being physical and real.
And they can't vanish just because the power grid fails, right?
The price volatility is nowhere near what it was in crypto.
And of course the FTX collapsed.
But hey, I think crypto has a place.
And I think gold and silver have a place as well.
But gold and silver will hold value relative to everything else that's collapsing in this process.
So we're going to go through some more headlines.
And let me give credit to our sponsor in this space, which is the Treasure Island Coins and Precious Metals Company.
If you go to metalswithmike.com, it will pull up a really outdated photo of me.
From like 15 years ago.
But nevertheless, that's not their fault.
That's my fault.
And then you can fill out this form and they'll call you back.
Honest Pricing, you can actually check prices on their website.
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Just gold products.
You can look at the prices here in real time.
Let's click on the kangaroo, and you're actually going to get prices right here.
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Live, real-time pricing here.
So you know what you're paying.
You can compare this to other retailers, and you can see that you're going to get a really great price.
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No commissions, no affiliate fees, because there's no markup like that.
These are among the best prices you're going to find out there from an honest, reputable source that can get you insured, discreet, physical delivery into your hands.
So again, metalswithmike.com is where you're going to find the Treasure Island Company, well known in the industry.
Now, let's go over to Zero Hedge here.
Headline, Biden insists the banking system is safe.
Oh yes, Biden!
And this is the same guy that said the vaccines were safe also.
And this is the same guy who also says the dollar is strong, the economy is good.
It's all good, in fact, according to Biden.
So if you believe that the vaccines are safe, keep your money in the banks because the banks are just as safe as the vaccines, according to Joe Biden.
Now, then here we go at the UK Daily Mail.
This is a really great headline.
Let me increase it for you.
Silicon Valley Bank had no head of risk assessment for nine months before it collapsed as woke boss for Europe, Middle East, and Africa was busy organizing a month-long pride campaign and a lesbian visibility day.
Too bad they didn't have risk visibility, isn't it?
Too bad they weren't running spreadsheets on risk analysis and how to eliminate risk.
It was all about lesbian visibility.
Hey, look, nothing wrong with lesbians working at a bank.
Don't get me wrong.
You can have lesbians all day long at the bank.
As long as those lesbians understand risk, I'm fine with it.
It can be trans people.
It can be gay people.
Surely they could find some gay people who could do math.
Surely!
Because there's plenty of gay people who can do math and understand accounting and look at risk assessment, but that wasn't their focus, you see.
It wasn't their focus.
They just want to run virtue signaling, but not risk assessment.
This is why they lost all their money, fundamentally, because they didn't diversify their money.
These people that are all about diversity...
They didn't diversify their money.
If only their portfolio was as diverse as their employee break room, they would have been okay, right?
If your portfolio had assets of color, like your lobby has people of color, and if your portfolio had assets of different backgrounds and different persuasions and different genders, as your lobby has people of different persuasions and genders, then you wouldn't have collapsed. as your lobby has people of different persuasions and genders, You would have been fine.
And so I guess for these woke banks, diversity is only skin deep.
Diversity doesn't apply to their books for some reason.
Uh-huh.
So much for diversity.
Get woke, go broke.
Look, I don't care how diverse a bank is.
I just want a bank that understands risk and works to reduce it.
How about that?
How about working for your clients instead of virtue signaling all day?
So now here we are.
As from MarketWatch, stocks of multiple banks get halted for volatility more than once.
To start the trading day, 30 different banks had their stocks halted in trading during the trading on Monday.
And here we go from the gateway pundit.
First Republic Bank plunges 66% in pre-market.
Western Alliance Bank down 62%.
Customers line up in California.
They're lining up to take money out of banks that they said would never fail today.
That's right.
These are the people who said their banks would never fail.
And they said that people like myself or Andy Sheckman or Gregory Manorino or Gerald Salenti or others, they said that we didn't know what we're talking about.
There won't be bank collapses.
There won't be bank failures.
Your money is safe in the banks.
And these people are now standing in line in the rain, hoping that they haven't lost everything.
So again, another case for gold and silver.
Too bad that by virtue signaling, they can't create money from nothing.
If they could just make money by virtue signaling, boy, they'd all be rich.
But instead, they're panicked right now.
So here's from CNBC. Investors rush into bonds and gold in flight to safety after SVB rescue.
What this tells me is that even the FDIC rescue bailout didn't quite work as well as Janet Yellen had hoped.
In fact, people are still pretty much freaked out and they're rushing into higher yield bonds and gold.
Gold spiked, what, $30 or something?
Maybe more by the time you see this.
Gold spiked because, of course, gold holds value.
And Wall Street people know that.
Bankers know that.
The central banks have been buying gold by hundreds of tons per quarter.
Look at the fourth quarter gold purchases of 2022.
It was off the charts.
Third quarter was off the charts.
Almost 400 tons of gold.
That's a lot of gold.
Why do they do that?
Because they know the system is collapsing.
And when it's all said and done, when the fiat currencies go to zero, gold will still have value.
And whichever central bank has its new currency backed by gold will have the trust of the people.
Because nobody will trust the currency, but they'll trust something backed by gold.
So that's why they're buying gold.
Well...
People who know what's going on are right now buying gold and silver like crazy.
I just want to remind you, go to censored.news because we are covering all of this in real time.
I'm actually posting these headlines at the top.
And if you scroll down there, these are automated, spidered headlines from 45-plus censored websites, including the Epoch Times, LifeSite News, Infowars, Blacklisted News, Climate Depot, 100% Fed Up, the National Pulse, Children's Health Defense, you know, on and on.
You can see it yourself, even Breitbart as well.
So that's where you can get the best information.
And check this out.
Banks are hiding $620 billion in losses.
It's because of an accounting rule shift where banks that are holding long-term government bonds that are out of the money significantly, let's say they're low-yield bonds, like 1.56%, but interest rates are much higher right now, 5%, let's say.
those bonds have already lost a lot of money, but the losses haven't been realized yet.
And the new accounting rules allow banks to just say that they have full value in the future.
Therefore, they don't have to shore up their assets today, right now, even though those things have already lost money.
And this is what happened with Silicon Valley Bank.
So this rule, again, allows banks to hold losses on their books that used to have to be covered.
So right now there's a $620 billion hole in the banking system in the United States right now and the FDIC only had about $100 billion Yesterday, now it's pretty much zero, or close to zero.
So the FDIC has run out of money to bail out banks, and we're facing essentially a $0.6 trillion hole in losses that just have not yet been fully realized by the banks.
How do you think this is going to play out, folks?
Not looking good, is it?
Not looking good.
That's why it's good to get your hands on some silver while you still can.
The supply is actually really good right now.
Well, maybe until this week.
It's probably going to get wiped out by the end of this week.
But the supply was good as of last week.
Now, by the way, speaking of silver, we at healthrangerstore.com, we have silver products.
I want to show you right here.
Not silver coins, but colloidal silver mouthwash, colloidal silver spray, And colloidal silver first aid gel that also is made with seven different essential oils.
It's for topical use.
It's made with Texas rainwater and it has xanthan gum.
It's an amazing topical gel.
I use it all the time from all the different cuts and scrapes and stuff for training with my dog where he accidentally kind of like rips skin off of my hands.
I'm not even kidding.
I... I do various training exercises and then of course I do Brazilian Jiu Jitsu and some other striking training.
So I'm always using that gel because I've always got little cuts and scrapes.
Go to healthrangerstore.com, check out our silver products.
They have guaranteed silver.
We guarantee it at our laboratory.
Which uses ICP-MS mass spec technology to verify the silver content.
We verify silver parts per million concentrations.
And in fact, every product that you see here has a little bit extra silver, more than what is stated on the label.
And any lab can confirm that, by the way.
So thank you for your support.
And by the way, yes, my dog, Rhodey, is right here.
He's hanging out.
He likes to sleep behind the desk.
I don't want to disturb him right now.
He might jump up here and just knock everything off the desk, but he's doing great.
He's doing great after a weekend of fun and swimming and chasing things.
He's doing great.
So anyway, bottom line, on the market.
Watch for more bank failures in the coming weeks.
I'm not telling people to panic and pull everything out of the banks, by the way.
That's not what I'm doing.
I'm telling people to be rational.
Have some diversification because you and I believe in diversity.
Unlike the woke left, they actually don't believe in diversity.
We believe in fiscal diversity.
So don't put all your eggs in one basket.
Make sure you've got different bank accounts.
Make sure you've got different forms of backup money.
You might have some silver.
You might have some crypto.
You might have some ammo.
You might have some garden seeds for barter.
You might have, I don't know, all kinds of things.
You might be sitting on a bunch of cans of freeze-dried powdered eggs or something.
I don't know.
But if you've got something to barter, then you're going to be in good shape.
You're going to make it through this.
The bottom line is the world is not ending, but the financial world that we know probably is coming to an end.
This is the beginning of it.
It doesn't mean you're going to die.
We're going to make it through.
Because you're preparing, because you listen to shows like this, brighteon.com, naturalnews.com, we give you solutions to help you navigate the collapse of the, well, the civilization as we know it, frankly.
That's where this is headed.
Now, this collapse might take several years to completely unfold, but it has begun.
And so, if you were delaying preparation activities, now is the time to get with it.
Continue preparing or accelerate your preparedness.
Get ready in every way you can.
Backup supplies, you know, food, energy, emergency medicine.
Let me also take you to this website, resilientprepping.com.
This is a free download.
This is an audiobook that I recorded.
Again, available for free.
You just enter your email address.
You can download the whole thing.
You download the MP3 files.
You download a PDF that's printable.
It's a full transcription.
Resilient Prepping teaches you how to prepare in every area of your life.
Shelter, food, medicine, backup communications, self-defense, you name it, it's covered in this book.
And again, it's completely free.
That's resilientprepping.com.
Free download.
Definitely take advantage of that.
And we thank you for all your support.
Got a great interview coming up and a couple of special reports as well outside the studio.
But Andy Sheckman is coming up and you won't want to miss that interview.
So stay tuned.
The Situation Update podcast continues.
I just interviewed Andy Sheckman about the bank failures that are happening and he agreed with me that we're in a spiral of doom.
It's a kind of financial death spiral.
It's, I guess, really four elements.
There's inflation, And then the inflation causes the Fed to raise rates.
And then the rate raises cause banks to become illiquid for reasons we'll talk about.
So you have bank failures.
And then the bank failures are bailed out by printing more money, which is the money printing part of this.
So again, inflation, rate increases, bank failures, and money printing.
And these four things create a feedback cycle.
That gets worse and worse with each revolution or each cycle.
So the inflation is going to get worse and worse.
The Fed's rate increases are going to continue to be sustained for longer and longer periods of time or even become higher increases.
The bank failures are going to accelerate.
And the money printing is going to accelerate, which will then increase inflation.
And we're back into the same cycle of doom.
So that's where we are right now.
The cycle of doom is upon us.
This ends eventually, although we can't say exactly when.
Maybe not today.
Maybe not next week.
Maybe not even in 2023, but this ends with the collapse of the dollar, the collapse of the U.S. financial system, the collapse of the United States government, and the collapse of the U.S. empire.
And that's how this ends.
Now, when the collapse happens, there will be, of course, losers and winners.
Losers, I don't mean morally losers, but financial losers will be people who lose all their money because they kept their money in the system, the system that's collapsing.
Or they still have money.
It's just not worth anything.
Hyperinflation.
Or both of those things.
That can happen at the same time.
You can have a bank failure and hyperinflation.
Those do go together.
So most people who aren't smart enough to get their money into some diverse assets, we'll say, are going to end up being caught with their money in the bank and they're going to lose most of that money.
And interestingly, even though I talk about this and I encourage people to look at diversification, look at risk reduction, take action, make sure you don't have all your eggs in one basket— I already know I'm going to lose some amount of money in the banking system because I have operating cash for my company.
You have to have a certain amount of cash in order to function as a business.
So whatever cash that is, is going to vanish one day.
I already know that.
Thing is, I realize that, and I'm trying to minimize that, where a lot of people have all their cash in the bank, or let's say in savings or in stocks or bank-adjudicated instruments, we'll say.
And that money...
That money will be lost.
And they're not planning for it because they don't expect it because they haven't yet been red-pilled.
And those are the people who will panic.
And obviously, you don't want to be one of those people.
You want to be not a loser, but a winner.
So what's a winner?
Well, in my opinion, and I think Andy Sheckman says the same thing, the winners in this game are not people who make money or who profit off of this horrible economic collapse and human suffering and all the horrible things that are underway, but rather people the winners in this game are not people who make money or who profit off
If you can emerge from this whole scenario without losing your money or let's say even just losing a small amount, if you manage to only lose 10% or 20%, you're a winner.
Trust me.
Because the losers will be losing like 80%, 90%.
The winners will be people who only lose, let's say, 5% to 20%.
That's a winner.
That's right.
Even losing some still makes you a winner in this scenario because it's going to be so bad across the board.
So when I talk about hard assets like gold and silver or other things that hold value, I'm not talking about speculation.
You know, I'm not talking about, oh, this is going to go up so much in value, you're going to make a fortune on the price increase.
No, I'm not saying that at all.
I say you're a winner if it just holds its value.
And it may not hold 100%.
And you're still a winner, even if it holds most of its value.
So see, when I recommend gold and silver, it's like hitting the freeze or it's hitting pause on your assets and kind of putting them in cold storage, let's say.
You know, the cryogenic chamber for your money and hoping that when you thaw that out later, you still have most of your money intact.
That's it.
That's what gold and silver are about, in my mind.
And I know, of course, there are people out there who talk about, oh, silver is going to go up to this and that.
It's going to skyrocket.
I don't even need that argument.
My argument is just, how do we put our money in a cryogenic freeze so that we can access it later on and not lose it?
That is what makes you a financial winner in this scenario, because we're looking at the total collapse scenario of the banking system as we know it.
And this has happened hundreds of times in world history.
Hundreds of times.
Different currencies, different countries.
I mean, look at Venezuela.
You know, look at the history of South America.
Look at the history of European money failures.
Even in the United States, you know, civil war currencies and so on.
Look at the rise and fall of money in Asia or Africa, for that matter, if you really want a wild ride.
It's crazy.
Currencies come and go.
They rise and fall.
They're born and they collapse.
But gold and silver are forever.
And when I talk about preparedness here, I'm not only thinking about it as a selfish point of view.
It's also about having backup money so that you can help the people around you.
You can help your family.
You can help your community.
When the system goes down, almost everybody's going to be desperate.
You need to think about this.
What are the ramifications in your community for when the system craters?
What's that going to look like?
I mean, number one, the people close to you are probably going to need help.
You know, the people that mocked you when you warned them about, oh, the banking system is going to collapse, and they laughed and rolled their eyes.
And when you told them that you should buy gold and silver, and they laughed and rolled their eyes.
Yeah, you're going to need to help those people, turns out, because they won't be available to help themselves because they didn't prepare.
They're not ready for any kind of a collapse.
So yeah, you're going to need to help those people too.
And then, well, in addition to that, you're going to have the zombie mobs of unprepared people.
And let's call those people you don't know who are desperate to And they're looting and they're searching for food and supplies and so on.
And of course, we do want to help out as many people in our community as we can.
And I think the best process for doing that is making donations to local churches and food banks and then directing people to those churches to say, hey, you know, I already made a major donation of food to the local church.
Here's how you get there.
And, you know, good luck.
At least that's my strategy.
But you want to help as many people as you can, but you also need to realize that we live in a society of really crazy desperate people even before the collapse.
There are so many dishonest people in society that There are so many thieves.
I mean, people stealing catalytic converters off vehicles every day right now, even in normal times.
What's that going to look like when times get even more desperate?
It's going to be absolute chaos.
You're going to have looters going after vehicles, looting stores, looting households.
You name it, you're going to have looters everywhere.
You're going to have desperate people, like two classes of desperate people.
You're going to have the desperate people that are sort of polite, asking for help, maybe deserving of help.
You know, innocent people who otherwise have good morals and good values, and they just, they were oblivious.
They didn't get prepared.
They got caught.
And you're going to try to help as many people like that as you can, and so will I.
But then you're going to have this other class of people that will use the chaos to commit acts of violence against others.
They will try to pillage and rape and murder, and they will assault people, and they will steal and break into people's homes and shoot them and steal their stuff.
And those people should all be shot.
Those people are the criminal element of society.
And believe me, your local sheriff will also agree with that statement that I just said, that those violent felons that exploit a collapsed situation to carry out their acts of violence and pillaging and raping and rampaging, those people should be shot in the process of catching them, carrying those people should be shot in the process of catching them, carrying out I'm not saying run around looking for people like that.
I'm saying run around.
If they come to you and they're committing violence, they're breaking in, they're attacking, they're assaulting, you shoot them then.
And your local sheriff, well, thank you very much.
Thank you.
And there's going to be quite an interesting filtering out of this.
You're going to know very quickly who's polite, who's community-minded, who can get along and help each other survive versus who probably is going to get shot.
That dividing line is going to emerge very, very quickly.
Seriously.
And justice is going to be swift in a collapse scenario because it's not just going to be your sheriff that says, hey, please shoot the looters, right?
It's going to be every person, you know, in their own home, on their own block, in their own communities, right?
When everything's collapsed and people are starving and desperate and times are tough and you're trying to help out as many people as you can, you know, you're trying to donate to your church and some lunatics come down your street in a pickup truck with guns and try to rob everybody, they're going to get shot!
It's going to happen quickly.
Which reminds me, you know, it's important to have gold and silver.
It's just as important to have a system of self-defense.
And to be competent in how to use it.
You need to master a pistol.
You need to master a rifle.
You need to be familiar with using shotguns.
You need to know low light shooting.
You need all these things.
This is not a joke.
These are necessary defense skills.
You probably need some form of night vision so you can keep a lookout.
And you're going to need ammo.
You're going to need a lot of ammo, probably.
And so, right now, ammo is still more expensive than it was a few years ago, but it's cheap compared to where it's going, that's for sure.
And you're going to need self-defense rounds.
And, you know, again, this is in the context of defending the lives of the innocent against violent aggressors.
That's the context of this.
You're going to need ammo in order to accomplish that.
Self-defense ammo, you know, hollow points, expanding tips.
Every member of law enforcement listening to this knows exactly what I'm talking about.
When some crazed zombie attacker comes at you and is trying to kill you, you're going to want some stopping power.
You're going to need some expanding rounds, right?
Nine millimeter, expanding rounds.
You don't want full metal jacket for that scenario.
So folks, if you're buying ammo, you buy a full metal jacket, FMJ, for practice, and then you buy expanding rounds to carry in your firearm.
Hey, I just bought a new SIG, what's it called, the X-Macro, which is, apparently it carries 17 rounds.
I have it.
I've got two magazines for it.
That's what it comes with.
It carries 17 rounds, but it's very thin.
It's very easy to conceal.
It's kind of based on the Sig Sauer P365XL, but it's a variation of that.
It holds more rounds.
And it's smaller than the Sig P320 that I've been carrying for quite a while.
So I'm really interested in trying this out as an everyday carry firearm and shooting with it a little bit just to kind of see how it handles.
And now, if it turns out that I like that pistol, of course, I'll practice with it.
I'll put a few thousand rounds through it on some steel targets, probably.
Like fighting tree targets, you know, where you shoot them and they shift to the other side.
Do some steel target practice on that.
Maybe some paper practice up front, up close, you know.
Do some low-light shooting.
Do some night shooting.
And then I'll buy some spare magazines.
And I'm going to look for a better trigger.
I don't know.
The trigger seems a little mushy to me.
It's just like, are you kidding me?
I squeezed it, and then there's like a mush zone, like a second stage mushy zone, and then it finally pops off.
Okay, that's not good enough.
I've got Glock 19s that are way better triggers than that, so I'm going to have to get a better trigger for that, but you You see my point.
You need to shoot with it.
Of course, know how to disassemble it.
Know how to clean it.
Maybe have some spare parts because spare parts are going to become more difficult to source, you know, especially in Washington state.
It turns out with all their gun control laws and any kind of left-leaning state is going to try to make it impossible for you to defend yourself against the zombies that they are unleashing with all their insane failing monetary policies.
They don't want you to be able to defend yourself.
So maybe move to a red state if you want to make it through all this.
Just my thoughts.
In any case, get ready, folks, because it's accelerating.
The spiral of doom is here.
It has begun.
It's like a brigade of black swans just put on suicide vests, and they're launching.
They're coming for us.
You gotta be ready.
If you are ready, you can make it through.
You don't have to panic.
Just get prepared.
We can make it through.
We can make it through with most of our assets intact and most of our lives intact and most of our communities intact.
Just understand that the oblivious masses won't make it through.
They will lose their money, their lives, their sanity, everything.
Just be ready for that.
It has begun.
Thanks for listening.
Stay informed.
Read my website, naturalnews.com, and also brighteon.com is my video platform site.
My channel there is HR Report.
And you can also check out my preparedness video website, kind of a how-to site, prepwithmike.com.
Got a bunch of videos there teaching you important skills.
Thanks for listening.
Get prepared.
Take care.
Welcome, everyone, to the Health Ranger Report.
I'm Mike Adams, the founder of BrightTown.com.
And today, as an emergency topic, you know, we have three banks collapsed over the last week, including Silicon Valley Bank with deposits of over $209 billion.
And Andy Sheckman joins us on an emergency basis here because, of course, Andy was right the whole time.
I've interviewed him several times.
times he has been 100% correct about what was going to happen, about the bank failures and the currency collapse.
And this is not over, folks.
So we're joined today by Andy Sheckman from Miles Franklin.
Andy, thank you for joining me today.
Taking time out of your busy schedule.
I know you have a thousand phone calls to return right now, but thanks for joining me.
Thank you.
I wouldn't miss it, Mike.
You're one of the few guys that I personally follow myself.
It's truly an honor to be here, and thanks for having me, and thanks for the kind words.
Well, thank you for taking the time.
Again, I know your phone is blown up.
Let's actually start with that question here.
Tell me what's happening today.
I mean, we're recording this on Monday, what is it, the 13th, I think, March 13th, and it was yesterday, the emergency announcement from Janet Yellen and the Treasury.
What are things looking like right now in your office today?
I was taking orders last night, Mike, till 1.30 in the morning on a Sunday night.
And I would say this environment is the closest thing that I've seen to Silver Squeeze, which happened February 2021, that I've ever seen in a 33-year career.
People are scared.
You know, they talk about motivation, people's motivation either by greed or by fear.
Certainly, you could argue that for the past few decades, our motivation has been greed.
People have wanted to make money in equities, in real estate, in the bond market, in cryptos.
Everything had been a wonderful ride, thanks to the brain-dead monetary policy of the Federal Reserve, while they suppressed interest rates and flooded the The country with money, the result had been asset prices that had gone sky high, that had had a very difficult time finding any real semblance of price discovery.
And that environment seems to be certainly coming to an end, replaced with great concern and You know, it's one thing when your assets or your portfolio doesn't do so well like we saw in 2022 with the 10-year Treasury down 16%, the biggest decline in the history of the 10-year Treasury, and the S&P down 20-25%.
That was bad.
That stung.
But when you see money evaporating and And literally disappearing out of banks in the period of a couple of days, that incites a whole different level of anxiety and fear.
And honestly, it's very difficult to explain what it's like.
The closest thing I can tell you is that one call to the next, to the next, to the next, to the next, to the next, to the next, to the next, all day long.
And it's a blessing if you own a company.
But it's actually kind of frightening when you put together the cumulative anxiety.
I'm sorry to interrupt, but tell us about the emotional state of people calling.
Are they rational?
Like, I just got red-pilled.
I know that this is a way to protect assets, gold and silver.
Or is there fear?
Is there panic?
What are people sounding like?
Well, you know, the one phrase, Mike, that I heard more than anything else over the last year or two, long before this ever happened, was, I don't want my money in the bank.
I just sold a house.
I just sold a business.
I have extra money.
I don't feel comfortable with it in the bank.
There's tremendous anxiety.
There's tremendous fear.
They're looking at the derivative exposure.
They're looking at the contagion.
They're looking at what the FDIC said in November, the Systemic Resolution Advisory Committee that I hope every one of your listeners is aware of.
And I think they're finally getting it.
I've been talking about the Systemic Resolution Advisory Committee's November meeting for the past two months on almost every podcast, beating this into people's head.
And maybe they're like, oh crap, he was right, I should have listened.
And the phones are blowing up.
People are really frightened.
That's the best way I can explain it.
Well, you know, how quickly this has changed because last week, as of last week, gold and silver prices continue to be suppressed by the paper markets.
The premiums had really fallen from last year.
And in fact, as you have mentioned, there was a lot of oversupply of gold and silver even among retailers for the last several months.
Well, that ends today.
I mean, that's done right now.
By the time people see this, it's done.
Yeah.
And I've made, you know, it's funny.
You try to do something genuine.
You try to, yes, I own a business.
And yes, when I'm out there talking to people this way on shows like yours, and I say the market will be defined by the inability to source product, I caught a lot of heat for that.
People thought I was talking my book, but I really wasn't.
And You know, we both know some people in the industry, common people, who would echo what I'm saying, Mike, that for the past three years, getting product has been the most difficult thing that I've ever experienced in a 33-year career, where you're having to secure a product 60 and 90 days in advance, pay for it up front, pay the highest premiums that anyone's ever seen, hedge the gold and silver exposure, you can't hedge the premium, that's a risk, then run logistics like you're running a freight company.
And it's been that way for three straight years.
And then all of a sudden, it just fell off a cliff.
And it started around Thanksgiving of this last year and ran through roughly January here of 2023.
And it was unexplainable and it caught me off guard.
Caught a lot of companies off guard where...
We were making purchases for Australian kangaroos and UK Britannias in late October and November, paying monstrous premiums and waiting 60 to 90 days.
By the time they came in, the premiums came down two bucks and were selling at a loss.
It's been unbelievable.
All I can simply say to you is that there was a lull.
A lull maybe that centered around the holidays, Thanksgiving, Christmas, New Year's.
People wanted to get out without having restrictions, COVID restrictions, and see their family, travel, not wear a mask.
And they just let everything drop, including demand for medals.
And it was crazy because What went from a period of ridiculously high premiums and awful availability became restocking central.
Everything stocked up.
Premiums came down.
And I've been saying to people, this is a sweet spot.
This is not a change.
Nothing has changed.
In fact, the fundamentals are getting worse.
Right.
If you look at the entire financial matrix of the United States, from Joe and Jane Sixpack to the Harvard Endowment Fund, and you give it an allocation to precious metals that is believed to be one half of 1%.
That's it.
So in 1980, it was 8%, and the average of the last 40 years is 2.5%.
You go back to that mean, just a 2.5% allocation across the board, it's a five-fold increase in demand.
And like that, everything will be gone.
I'm telling you, everything will be gone.
Well, let's get some practical information for people.
So if folks want to reach you while there's still some supply, what's the best way for them to reach you?
You know, as we were talking offline, one of the most embarrassing things of my career has been this new website we've been building.
I told everyone, including you, that it's just a few weeks away, starting in August, and then in September, and then in October, and then when we talk this winter, just a few weeks away.
It's been the worst experience in my 33-year career.
People have been fired.
We had to switch developers.
Bottom line is simply this.
Our website is this close to being launched.
Really close.
In the meantime, send us an email at info at Miles Franklin.
We still have a website, milesfranklin.com.
You can't purchase on it.
It doesn't quote prices.
But send us an email at info at milesfranklin.com.
Ask for a new price sheet.
You will not be disappointed.
We will not be undersold.
We will make sure that your listeners are getting all of their questions answered.
We will contact them if they wish to be contacted.
We will send them a price list with no obligation and our prices will be as good or better as anyone in the United States and we have never ever ever We're one of only 27 U.S. Mint authorized resellers in the world and maybe one of the only companies in America that is fully licensed and bonded.
My corporate entity is in Minneapolis.
It's been there for 33 years.
It's the only state in America that mandates Licensing and bonding in what is a federally non-regulated industry.
So please put in there the Health Ranger sent me so we know it came from you.
We will make sure that they get special care.
We will make sure they get the best price with no obligation.
We'll answer any questions that they have.
Yeah, I want to be clear, too.
You're not a sponsor.
You're not compensated.
I'm not an affiliate of your company.
In fact, our sponsor is the Treasure Island Company, which I'll mention at the end of this interview.
And I plug them all the time talking about this.
But I have you on, Andy.
There's no financial relationship between us whatsoever.
But I have you on because you have the best grasp and the best communications capability.
Of what's going on.
And you saw this before anybody else.
And in fact, I want to ask you this question.
The fundamental issue that Silicon Valley Bank faced was, as I understand it, and correct me if I'm wrong, but they had so much deposit money from their customers, the VC companies, they ended up, for whatever reason, purchasing long-term government bonds at 1.56% yield Right before the Fed started hiking interest rates like crazy.
And then when some customers wanted their money out, the bank had no liquidity in these long-term bonds, so they had to start liquidating these bonds at a loss, which is what happens when you buy crappy interest rate bonds and then interest rates rise, right?
You get caught big time.
And then, of course, that led to the bank run that happened there.
But this fundamental issue, as I understand it, exists for all kinds of other banks right now, does it not?
It does.
So let's make an explanation of how this happens.
When you make a deposit into the bank, it's not really a deposit.
It becomes not an asset of the bank, I guess I should say.
It's a liability.
The bank needs to offset that liability with an asset, and that asset is usually a bond.
Treasury or real estate, mortgage-backed security.
And remember, during the pandemic, the president eliminated all bank reserve requirements.
So the banks have very little currency on hand to meet customer demands.
And if there's even a small run on the bank, the bank is forced then to sell its bonds at a huge loss to meet their customer demands to get the money back.
And like you were saying, if the bonds pay 2%, which is probably about right, because most of the short-term treasuries Until recently, we're paying 1%, 2%.
And interest rates today on those bonds are close to 5%.
So they've lost well over half of their value or more of those bonds that they're forced to liquidate to meet demand for withdrawals.
And if the demand for withdrawals is large, Like we just saw, a big bank can become insolvent within 24 hours, which we just saw.
And the FDIC is a scam.
They can't handle this.
Their insurance fund, Mike, has 0.03% of total bank deposits insured.
In other words, they have about $180 billion backing $9 trillion.
And so one or two banks will drain it all.
And the only way to save the depositors, then, is to monetize the banks, print currency to make them solvent while destroying the value of our currency.
I want to ask you about the FDIC. You're nailing it.
I looked at these numbers last night.
Here's my understanding.
The FDIC before today had $125 billion in its rescue fund.
The total deposits in commercial banks across the United States is almost $10 trillion.
It's like $9.5 trillion, something in that range.
And the FDIC, as you said, has a fraction of a fraction of the funds needed to bail out other banks.
The problem is the FDIC essentially just spent maybe most of its money bailing out three banks.
And what happens next week?
Right?
What about the next failure and the next failure?
The FDIC has no money left or essentially none.
And then at that point, aren't they just going to be forced to, you know, print money to bail out the banks?
And, you know, that never ends well.
Yeah, what is it?
The banks or the dollar?
I mean, take your choice.
And, you know, what happens when Japan and China start dumping treasuries and dollars?
And we've talked about this.
This is your Operation Sandman.
And what happens when that happens?
God help us all, truthfully.
I mean, we've created an environment that is You know, that is sitting on a razor's edge where we have been reliant upon the good graces of our foreign creditors.
You know, we're talking about what's happening here and what Fed Chairman Powell and Treasury Secretary Yellen are going or not going to do.
It's a bunch of crap.
They have put us in this position, and the rest of the world sees it.
And what happens when Japan and China start dumping their $2 trillion worth of U.S. Treasuries?
Who's going to buy them for a 2% return with inflation running at multiples of that number?
Who's going to buy new debt?
The Treasury starts unloading $200 billion tomorrow, or today or tomorrow, I forgot.
Who's going to buy that without demanding a much higher interest rate?
So then the cost of servicing the national debt begins to skyrocket.
And then you get into this death spiral.
That's exactly right.
Math will solve this problem, Mike.
Reality will solve this problem.
Hyperinflation and depression will solve this problem.
The problem is too much debt and all debt must be repaid either by the buyer or by the lender.
And, you know, look, when was the last time that the Fed and the Treasury and the FDIC held an emergency meeting on a Sunday and followed up with a speech by our president who can hardly put three words together saying, don't worry, look over here, not there.
Look, they've lost all credibility.
No inflation.
Inflation is transitory.
We will stop inflation.
It's all crap.
They're scared blankless.
And the time to be scared is when they tell us not to worry and we've got all this covered and the taxpayers won't have to deal with this.
It's a scary situation and that's exactly why anyone who's in this industry right now, the good folks at Treasure Island, who are some of my oldest and dearest and best friends in the world, I know they would echo that, too.
So we're doing it, they're doing it, everyone.
Well, and I know you don't focus on the culture wars, but on the financial side, you'll find this fascinating.
You know, Silicon Valley Bank reportedly was missing a risk manager for nine months, and then they brought in a woman who had, I think, lesbian awareness day, but they never had risk awareness day, right?
It was all this virtue signaling stuff.
And a month-long program for trans and lesbians.
But, hey, what about your client's money?
You know, like, what about that?
I mean, fine.
You can be lesbian, but don't lose your client's money when you're being lesbian all day.
I mean, for God's sake, people.
What's the deal?
The deal is that, and this is so much of what has led me to believe that we're heading down a path where the rest of the world is going to move away from the dollar because not only of our mismanagement of the world reserve currency,
our horrible monetary policies, our perceived hypocrisy and hegemony around the world, but These types of things, we have lost focus on what is really, really, really important.
And the contagion of all of these types of failures is going to spread like wildfire, as far as I am concerned.
So yeah, I don't think you've seen anything yet.
And certainly, we don't have our eye on the ball right now.
We're focusing on things that are just absolutely ridiculous.
And the rest of the world understands this.
We are not We are not imposing whatsoever anymore.
We are not showing strength.
We are being laughed at by most of the world.
And this is probably why you're seeing the central banks of the world buy more gold than at any time, really, since 1967, the second most in history.
That's a form of de-dollarization.
That brings us to the next topic that I wanted to be sure to get you to chime in on.
Of course, I think you really spearheaded a lot of the conversations about the BRICS nations and the de-dollarization of the world.
And we've seen so many moves since then.
The Saudis working with China to clear energy transactions without using the dollar.
We've seen India now do deals with all kinds of nations to say, hey, we're going to do transactions in rupees.
Forget the dollar.
Well, Think about what just happened over this weekend.
Does this inspire confidence in the dollar internationally?
No.
Your thoughts?
Go ahead.
None whatsoever.
And I think it only adds more fuel to the fire.
And at some point, you're going to see these countries really turn up the heat.
We have news that the Shanghai Cooperation Organization, which is 60% of the Eurasian landmass and, I don't know, 50-plus percent of human population, That's independent of the BRICS and the Belt Road Initiative and the Eurasian Economic Union, and they're going to issue a gold-backed settlement currency.
You have the BRICS nations, which have over 60 countries waiting in line to join, including Saudi Arabia, who's already signed up, including Turkey, who's already signed up, who imported 58.3 tons of gold in January, the most that The most in the world, on top of buying more gold than anyone in the world in 2022.
But we're seeing other things, too.
Look, in Davos, Saudi Arabia said, hey, we're open to taking other currencies for oil.
And now, Saudi Arabia is now making reconciliation with Iran, and China's brokering this deal.
So you have the friend of, you know, my enemy's enemy is my friend.
You have these countries that are joining together.
And they're looking past decades, centuries worth of mistrust and hatred because they realize this is their one chance to, I think, break free of the Western hegemony.
And the coalition of these countries, who are all massively accumulating commodities, using the leverage Of the Western suppression to drain the exchanges and they are doing so.
India, as you mentioned, bought 304 million ounces of silver last year.
Mike, that's more than the entire COMEX market has in its entire ecosystem of which only 39 million ounces are backing the bars for delivery.
That means the majority of the silver in COMEX isn't for sale.
It's held by people who don't want to sell it.
The amount of metal that is leaving the LBMA and the COMEX is extraordinary and it's all moving to these countries that are forming a union against the West and the brain dead monetary policy and the wokeness and the stupid things that we're doing.
It's only, I think, increasing the The speed at which this happens, the central banks added another 77 tons of gold in January and that was led by Turkey and China and Kazakhstan, all these countries that are moving away from the West and it's just a matter of time before they exert a lot more pressure Whether it be the Moscow Exchange,
whether it be the official launch of the BRICS reserve currency, pegged to commodities, or the Shanghai Cooperation Organization's gold-backed settlement currency, whatever it is, it's coming, and you can see it by the speed in which this is accelerating, and these countries are de-dollarizing, accumulating metal, and forming Mutually beneficial alliances, and that's really what's happening.
Okay, all right.
Breaking news here out of CNBC. Here's their headline.
Something broke, but the Fed is still expected to go through with rate hikes.
Now, you may have known, Andy, that last night Goldman Sachs put out a prediction that the Fed would skip its March 21st rate hike But it would still hike rates in May, June, and July.
However, today, according to CNBC, traders assigned an 85% probability of a 25 basis point interest rate hike in March from the Fed.
Now, think about this.
The Fed is saying that it's fighting inflation by raising interest rates.
As they raise interest rates, they cause bank failures for the reasons we already covered, that banks have low-yield long-term bonds that are losing value.
So then...
The Fed has to print money to bail out the banks which causes inflation and then to fight inflation they have to keep raising rates.
This is insanity.
Where does this end?
Well, it all roads into the same place with the blowing up of the economy.
Hyperinflation meets the Great Depression.
It's hyperstagflation is exactly what it is.
It's the worst of all possible outcomes.
And I don't think they've thought this through.
Yeah, you keep raising rates, you're going to blow up the banks, you're going to backstop the banks by printing more money, which creates more inflation, which raises interest rates.
And you keep doing this, and these countries, these BRICs are going to say, done!
We're done.
And they're going to dump dollars.
They're going to dump treasuries.
There is Operation Sandman.
When that happens, Mike, it's the great reset.
Because when the dollars dump at the same time, everything that is inversely correlated to interest rate hikes will explode.
Because this pussyfooting of 25 basis points or 50 basis points, even though they've gone up fast the way that they've They've increased the interest rate environment.
They're still below the rate of inflation.
And then they lie about what inflation really is.
So even though they are raising rates, it's a negative real return on our treasury.
So who the hell wants to buy a treasury earning negative real return?
And the knock against gold is, well, it doesn't pay a coupon.
There's no return.
Yeah, well, it sure beats the hell out of negative 4% compounding if you believe The CPI, you know, John Williams of ShadowStats will tell us the CPI, if measured the way they used to, is 12 or 13 or 14 percent.
But even if you believe the 7 percent nonsense, when you're getting 4 percent on a U.S. Treasury, that's 3 percent compounding over 10 years.
That you're losing and another quarter basis point doesn't do a damn thing, but you continue to crank up interest rates and you'll see more and more and more bank failures.
You continue to print more money to bail out.
You destroy the currency more and more and more and everyone is just going to bail ship and that being all of our foreign creditors and all of the countries who have accepted dollars.
When OPEC makes that switch, when Saudi Arabia makes that switch, because they're firmly entrenched with 70-80% of human population in the Belt Road, the BRICS. By the way, every one of the OPEC producing countries are on the Belt Road Initiative.
US isn't there.
None of the West is there.
When they make that switch, bang, it's over.
And that's when rates go so high that everything collapses and all of this pussyfooting around looks like a walk in the park.
Indeed.
And I like how you said everybody's going to bail ship.
And I think right now we're all up Ship Creek without a paddle at the moment.
But I want to show you this.
Now, look, I normally...
I don't flash gold and silver on screen normally, but I want to show people...
Can you go to camera five, guys?
I want to show people that this is real.
Here, I have a Trijicon case here, but inside...
There's some real silver with a couple of gold coins in the middle.
That's real silver.
It's real.
It's physical.
I don't know how much that's worth right now.
I don't know, like $10,000 or something, or maybe a little bit more.
Who knows?
But that's real silver.
This is what's going to be here when you can't log into your bank And it says, oh, service is not available.
Or it's another bail-in.
Or you get what's being called a certificate of receivership.
I heard that phrase over the weekend.
Oh, yay!
I have a certificate of receivership.
You know, that sounds like an IOU screw you kind of document, frankly.
But physical gold and silver?
This is going to be here no matter what.
You get it in your hands.
You put it in a safe place.
It's going to be here.
It's going to hold value even after the collapse of the dollar.
No doubt about that.
What do you think?
Absolutely.
I think there's no question.
What's the only asset that every central bank in the world holds?
And it's gold and silver.
And it is.
Mike, when I started this company almost 34 years ago as a 19-year-old kid with my father, He told me, one rule or I'll fire you.
I said, all right, Dad, I can deal with that.
What's the one rule?
He says, you'll buy something every two weeks, period.
I said, well, geez, that's the only rule.
Count me in.
I mean, let's do this.
I've owned the company outright for over two decades.
He's retired.
He's still my partner.
He won't fire me anymore, but I have honored my promise to him, Mike, in every two weeks for almost 34 years.
I have never missed a two-week period.
I own gold and silver, not as a hedge against catastrophe, not as To protect myself from the sky falling.
I hate going down this narrative.
I do.
Because I got young kids.
My youngest is 15.
I want to live in a world that there's optimism and hope about.
But I'll tell you something.
To me, gold and silver have always been wealth.
That's why I own it.
Now, when you look at an environment that we find ourselves in right now, yeah, not only will it be there in an emergency, and it will be, As an asset that is not simultaneously someone else's liability, but it will be there for opportunities because when the dust settles and rates rise high enough to find some form of symmetry with asset prices, you're going to find bargains of a lifetime.
And those who are not destroyed by the destruction of the currency and asset prices in rising interest rate environment will have We'll have a chance to not only survive, but to thrive.
Now, I want to make one other point.
You know, there is a term in economics called Gibson's paradox, which speaks to the inverse relationship between real interest rates and the price of gold.
So if real interest rates go to the moon, does that mean everyone's going to want to buy treasuries?
And in a normal environment where all hell wasn't breaking loose, where the dollar wasn't Close to losing its world reserve status, I would say yes.
In this case, I would say no.
I would say that he or she who loses least in what's coming wins.
That's how it's going to play out.
I don't think that the high interest rates will hurt precious metals this time because the high interest rates are going to portray a destruction of the currency.
If the currency was If we weren't concerned about the future of the dollar, I may say, yeah, Treasuries, once rates rise, will be the place to go.
But until then, and until we see a semblance of safety and a new system being built on something sound and stable, I can't think of a better place, maybe short of a working farm, that I would put my money anywhere besides gold and silver.
And I say that with as much objectivity as I can offer.
Okay, final question for you, Andy, and then I'll let you get back to returning your 500 voicemails.
Will there be more bank failures this year?
Yeah, I mean, I think mathematically there has to be.
I do believe there will.
And the question is, what's the Fed going to do?
Are they going to continue to bail out these banks?
And like you said, as they raise rates, the banks fail.
They print more money, more banks fail.
Look, Credit Suisse is right there circling the drain.
And it's one of the globally systemic, too-big-to-fail banks.
Well, obviously they're going to step in and bail them out.
The Fed already...
Gave $10 billion to the Swiss Bank Corp, I believe is their name.
They're one of the biggest banks in the world.
Why didn't the Swiss National Bank do that?
Why is our Fed?
Because they're scared.
And let me just simply say this, you know, it's pathetic that our government and our leaders lie to us.
And for anyone who wasn't aware what I was talking about earlier with the November meeting of the Systemic Resolution Advisory Committee, Google it, go to YouTube and watch it.
This is the board of the FDIC systemic resolution advisory committee and what they said is that the public who has far more faith in the credit worthiness of the banking system than the members of this board do, I almost threw up when I heard that, need to understand that there will not be bailouts.
Well here's a bailout but not an FDIC bailout.
But there won't be bailouts, there'll be bail-ins, that everyone is an unsecured creditor of these banks, and they need to understand that there will be bank runs and bail-ins, and the institutions already know this.
The public needs to know it, but if we tell them it will lead to unintended consequences like Bank runs.
And so the point of it is that they know this is coming, and they knew it was coming.
They told us.
Now that meeting leaked out to YouTube.
You should watch it.
It's nauseating.
And they knew it was coming.
And the thing that is most concerning, most frightening, is how the heck did they decide to just backstop the bank and the precedent that they are setting for the rest of the banks that are teetering On Razor's Edge.
I mean, it's almost you can't make it up.
So yes, I think there will be.
And maybe some of them will fail and the FDIC or the Fed or whoever it is with their newly created money will just come in the back door before it becomes news.
I don't know, but I will tell you that anyone who leaves A copious amount of money in the bank right now, I think, needs to check themselves because the risk certainly is not commensurate with the poultry return.
Even when rates have gone higher, they're not giving you anything more than they did a year ago, barely, in your checking and savings account.
Find a better place to put it.
You'll be glad you did if, indeed, this contagion continues and accelerates.
Yeah, there are pre-collapse liquidity injections happening right now at certain banks.
One happened last night and more to come.
Yeah, they're trying to stave off the risk of contagion.
But I don't know, Andy, I don't know what everybody's worried about.
I think the banks are just as safe as the vaccines.
Yeah, absolutely.
In fact, I think they're giving vaccines at the bank today.
Yeah, there you go.
Yeah.
Maybe they'll vaccinate you against financial loss and see how that goes.
You're going to need a booster for your bank account pretty soon.
But Andy, it's always great to be able to talk with you about this.
Thank you for joining me.
I want to give out your email address.
You said is info at milesfranklin.com.
Is that right?
It is and if people need to talk to me just put it in there and if it's something important it will get passed to me and you know I made the mistake of giving out my personal email address on podcast before and I'll get 7,000 emails in a day and people get mad when I don't get back to them so info at Miles Franklin we have 12 brokers that almost every single one of them goes back to Little League and elementary school and high school with me they're all family they're all my dearest oldest best friends and And they are smart.
They're educated.
They can talk to you about geopolitical events, about political events, about economics.
They're not order takers.
And we pride ourselves at the way we conduct business.
And I'll tell you something, Mike.
I think you're the best in the business.
You're a breath of fresh air.
You say things like it is and there are very few people that I follow religiously like I do you.
I am a phone call, a text away.
Anytime you'd like me to come back, even just for a few minutes to talk about what craziness is happening that day, count me in and keep doing what you're doing because you and people like you are the real media, whereas the media that people are relying on, all they're doing is a great disservice to this public who is going to be caught Off guard tremendously, because I don't even know, most people don't even know what a bail-in is.
And they'll find out the hard way.
That is if the Fed doesn't backstop everything.
And I want to mention too, closing this out, folks, if you're going to buy gold and silver, make sure you get the most physical ounces for your dollar because you and I both know, Andy, there are some shady operators out there that are doing bait-and-switch type of operations and they're selling people ounces of something that they're not getting what they're supposed to get for their dollars.
Let me address that real quick.
That's important.
Six major mints in the world.
United States, Canada, Austria, Australia, South Africa, United Kingdom.
Do not buy proof coins.
Bullion, commercial strike, gold and silver coins.
And you can buy one ounce buffalo rounds.
You can buy one ounce gold bars from the Swiss refiners.
Stay away from proof coins.
Stay away from collector coins.
Stay away from anything that has an inordinately high premium.
Why shouldn't people buy proof coins?
Tell us.
Because the difference is I'm one of only 27 U.S. Mint authorized resellers in the world.
And an honor I'm totally proud of.
And if you wanted to get commercial strike coins, that's the coins that my company sells, that Treasure Island sells.
These are coins that It's a blank disk of silver or gold.
It's stamped one time, it's put in tubes of 20 and boxes of 500, and sent out to companies like mine in Treasure Island.
You can't buy them from the mint.
That's the least expensive way.
A proof coin, however, is that same piece of gold and silver, polished under an industrial buffer until you can see a reflection in it, stamped four times for extra definition, put in a velvet box and sold for three times its melt value.
I have three kids.
Very often I'll go to the mint website and I'll buy one of the three coins each year for my kids.
It's just simply a collection.
It's not what you want.
Put it this way.
It's the cherry or the hot fudge or the sprinkles on top of the sundae.
What we're talking about here, commercial strike coins, that's the vanilla ice cream.
That's what you want.
You do not want to load up on proof coins because they tell you that they're so profitable.
I do it just because I started doing it when my kids were born, one each from each year.
That's cool, but if you're looking to protect yourself and your family and to Give yourself the greatest chance to weather this craziness and this economic storm that's bearing down.
You want commercial strike bullion coins from one of the six major mints.
And if you're going to buy bars, make sure they're issued from places like the Royal Canadian Mint, Pamp Swiss, Valkambi, Asahi, Johnson Matthew.
These are the name brand companies that will give you tremendous liquidity even in bar form.
But the companies out there that are preying on people by buying gold and silver proof coins or coins that are one and a quarter, one and a half ounce, these are coins the Royal Canadian Mint makes specifically for companies and those companies selling for huge premiums saying that they're special coins and they can't be shopped.
There's a lot of scams out there, bottom line.
If you call Miles Franklin or you call Treasure Island, I guarantee you, 1000%, you will never, ever, ever, ever be taken advantage of.
I can promise you that.
Yeah, exactly.
You treat our customers right.
Let me give credit to our sponsor, which is the Treasure Island Coins and Precious Metals.
And they sponsor our podcasts, you know, my podcasts and episodes like this.
MetalswithMike.com is the website where folks can check them out.
I encourage everybody watching, contact you, Andy.
Contact Treasure Island.
You're going to find you're going to be treated fairly.
You're going to have honest pricing, very competitive, discreet, insured delivery, physical gold and silver, insured delivery into your hands.
You're not going to get taken advantage of.
And I know that because...
So do I. I mean...
People would complain to me if anybody got taken advantage of, even by you, Andy.
If you tried to rip off even one of my listeners, I would never hear the end of it.
So I know that we can trust you.
I appreciate that.
And I know that anyone in my position would like to be here on your show.
You do a tremendous job.
And like I said, the folks at Treasure Island are some of my oldest friends in the world.
They're from North Dakota.
I'm from Minnesota.
I've known them for 30 plus years.
Good folks in the small world.
And whether you work with Treasure Island or you want to give us a try, you will not be disappointed with either of us.
And we will all Thank you, Andy.
I think I'm going to ask you back real soon based on what's about to happen, so we'll see.
Watch your phone.
I'll be reaching out to you probably pretty soon based on where this goes.
But thank you for taking the time today.
I know you have a million things to do.
I appreciate all your time and your expertise.
Pleasure is mine.
You've done a great service.
And thank you for watching.
This is Mike Adams here, the founder of Brighteon.com.
Be sure to check out more interviews about this, including probably upcoming interviews with Andy Sheckman and others at my channel on Brighteon.com and other video platforms.
Get prepared, folks.
The bank crashes have begun.
Take care.
A global reset is coming.
And that's why I've recorded a new nine-hour audiobook.
It's called The Global Reset Survival Guide.
You can download it for free by subscribing to the naturalnews.com email newsletter, which is also free.
I'll describe how the monetary system fails.
I also cover emergency medicine and first aid and what to buy to help you avoid infections.
So download this guide.
It's free.
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