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March 20, 2023 - Health Ranger - Mike Adams
58:24
Situation Update, 3/20/23 - Global finance SHOCKWAVES as Credit Suisse BAIL IN wipes out...
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Welcome to the situation update for Monday, March 20th, 2023.
Mike Adams here.
And as a reminder, this is the one podcast each week now that is recorded without the studio.
This is audio only because I'm recording it late, late Sunday night.
And what a Sunday it has been.
Yeah, we're going to talk about Credit Suisse and the...
The financial chaos taking place in Europe.
It's just mind-blowing.
I was watching this all day and all evening and recording this quite late because I wanted to make sure that I had a handle on all the developments which are substantial.
So there's really just two big stories here today.
Credit Suisse, what just happened, It's going to send bombshells and ripples throughout the financial world, at least the Western world.
And then secondly, the potential arrest of President Trump that is supposed to happen tomorrow, but may have actually been reversed.
So we'll talk about that in a minute.
But let's start out with Credit Suisse because, as I warned on Friday, Credit Suisse, I had insider tips that said it was done.
Credit Suisse was done.
It was either going to collapse or it would have to be taken over, nationalized or something.
Well, what actually happened over the weekend was that Credit Suisse, it did collapse.
In essence, it was acquired by UBS, which is the other mega bank in Switzerland.
that is also extremely large.
And so UBS acquired Credit Suisse with government liquidity bailout money.
100 billion francs is the amount of liquidity offered by the Swiss National Bank.
100 billion francs plus another 9 billion franc guarantee.
To cover any losses that people might have during this acquisition.
However, there are other losses equivalent to about $17 billion that have been completely written off that is bondholders of Tier 1 bonds at Credit Suisse, which went to zero because it was a Credit Suisse bail-in on those bonds.
So let's step back here.
It could get complicated, but here's what happened.
Credit Suisse was done.
It would have collapsed today.
If not for this rescue.
The rescue was this strange combination of a government bailout combined with another bank acquiring Credit Suisse combined with a bail-in that wiped out $17 billion in bonds from bondholders.
So it wasn't just one or the other.
It was all three of these crazy things happening together with Credit Suisse.
And believe me, they would not have done this unless they were desperate.
In fact, they had to break the law to make this happen.
They had to break the law that requires Credit Suisse shareholders to vote on such an acquisition.
Well, the Swiss government decided that, well, we're just not going to apply the law in this case.
We're just going to, you know, make an exception.
It's an emergency.
Where have you heard that before, right?
COVID? So, the Credit Suisse shareholders got no vote, including, by the way, I think it's the Saudi National Bank, I need to check the name of that, but the Saudi Investment Bank, whatever it's named, owned 9.8% of Credit Suisse, and they just got shafted.
They got shafted big time.
You can bet this is not going to make the Saudis happy whatsoever because Credit Suisse was sold for just $3.2 billion to UBS. Just $3.2 billion.
That's it.
And in that process, of course, $17 billion worth of Tier 1 bonds were just completely wiped out, as I said before.
So yeah, they were in a total panic over the weekend.
And they had to break the law in order to make this happen as quickly as possible before the banks open on Monday in Europe, which by the time you hear this, that already happened 12 hours ago or so.
So, why the desperation?
Well, let's back up here a little bit.
But, you know, first of all, let me just say...
The free market system is dead.
There is no free market system functioning in the banking system whatsoever.
Even Janet Yellen has just said she gets to choose which banks to bail out and which banks will be allowed to fail.
The days of being able to trust a bank at this point are over.
And based on what we've just seen, The only rational action here is to get as much out of the banking system as you can, because whatever you leave in there can just vanish, just like what happened to $17 billion over the weekend, illegally, with the Credit Suisse takeover slash bailout slash bail-in.
That was a bail-in on those bonds.
So this can happen to you, and it will happen to us in America.
This will happen.
It could happen very quickly or it may take a few months.
It's not clear, but let's step back and look at this.
Credit Suisse collapsed because of the fallout from the three U.S. banks that collapsed the week prior, right?
So Silvergate, the big one then was Silicon Valley Bank, and then Signature Woke Bank in New York.
Those three banks failed.
And First Republic looks really close to failing too, by the way.
Those three banks, the failing of those three banks caused Credit Suisse to have all of this exposure because of, of course, you know, contagion.
Debt instruments that are cross-pollinated between these banks.
Oh, I forgot to mention.
Also, over the weekend, the Fed stepped in and said it's going to bail out all the central banks of the Western world.
Yeah.
Yeah.
I'll read you that one here shortly.
It's unbelievable.
The Fed has announced it's bailing out the entire Western world.
That's a whole new level of panic right there, and we'll get to that.
But first, remember, Credit Suisse collapsed, or nearly collapsed, because the three banks failed in the United States.
Those three banks failed because FTX collapsed, the crypto empire of FTX, you know, Sam Bankman fraud.
And FTX collapsed because of other crypto, like Three Arrows Capital and Terra Luna and whoever else collapsed before FTX. So this collapse actually began in crypto, believe it or not.
And then it spread to tech industry banks, notably Silicon Valley Bank.
And then it spread to a major European commercial bank, Credit Suisse.
Now, do you think that the contagion is going to stop there?
No, not a chance.
Contagion will now spread.
It's going to spread across Europe.
It's going to spread across North America, commercial banks that have nothing to do with Silicon Valley or crypto or anything.
The rise and fall of crypto is bringing down the conventional banking system because the conventional banking system was built like a house of cards on a pyramid of debt, and it was already incredibly fragile that almost anything could have brought it down.
In this case, it happened to be a crypto collapse.
So that's the big picture perspective here, and this is nowhere near over.
And I listen to a lot of experts over the weekend, a lot of interviews, and I also put out a lot of requests to my producers to invite certain people to come on for interviews.
For example, Bob Moriarty, we're going to ask him to come on, put out a request to Tom Luongo.
about what's going on, and he believes that Jay Powell and the Fed are actually at war with the, what did he call them, the Euro trash bleep bag fascists that are running the European Union as a bunch of communists slash fascists. the Euro trash bleep bag fascists that are running the So I'm inviting other people to come on, lots of other experts, and we've got some experts lined up this week as well in terms of studio interviews.
So what you've got to understand is that this banking system is now so fragile that last week the U.S. banking system would have completely cratered, and this week the European banking system would have completely cratered if not for these interventions.
That's how close we are to a total collapse.
We are literally, both last weekend and this weekend, we're just hours away from a total collapse of the entire banking system as we know it.
Keep that in mind.
And by the way, if you want to know what tranche of bonds were wiped out at Credit Suisse, it's the AT1 tranche.
Let's see, about $16 billion in their local currency.
It's about $17 billion U.S. of Tier 1 AT1 bonds completely wiped out in a bail-in operation.
And as the hedge reports, some of the holders of those bonds were PIMCO, Invesco, and Blue Bay Funds Management S.A. So those three companies just lost $17 billion.
And now the question becomes, well, how are those losses going to be felt?
Where is the ripple effect going to emerge next?
What other institution will fall because of that?
I guess we're going to have to wait and find out.
But clearly this thing is – it's growing larger.
The contagion is.
It's more dangerous.
It's wiping out larger and larger banks.
And with Janet Yellen saying we're going to choose which banks to bail out and we're only going to bail out, quote, systemically important banks but not necessarily small regional banks, what's actually happening right now is a massive shift of people pulling their funds out of small what's actually happening right now is a massive shift of people pulling their
which is regretful, because I think the small regional banks are better run, by the way, but they're putting all their money into the large systemic banks that they know will receive full bailouts.
And by the way, the whole bailout thing that happened last week was such a farce to begin with.
Why should Silicon Valley, you know, woke tards all get bailed out with taxpayer money?
And the answer is, well, it's because they were working on climate change projects and startups, and it was all these left-wing media companies, and it was all a woke bailout, is what that was.
A woke bailout of a woke bank.
Do you think a conservative banking group would have got bailed out?
No, of course not.
It's only because they were part of the woke cult, the climate cult.
Something like half of the startups that were funded by Silicon Valley Bank had something to do with climate change, which, of course, that's the cover story that the administration is using to shut down energy and food and private land ownership and Diesel fuel and combustion engines and gas stoves and everything.
You know, pretty soon you'll have no appliances whatsoever.
Oh, you want to flush a toilet?
Sorry, can't use water.
Oh, you want to cook a meal?
Can't use gas.
Oh, you want to charge your car?
Can't use electricity.
You know, what are you supposed to do?
Crap on a bucket in the backyard while holding a solar panel over your head to generate electricity for your pathetic, obedient life as a woke-tard?
I mean, that's what it's coming to.
But anyway, that's beside the point.
The bank, Silicon Valley Bank, was a woke bank.
Signature Bank was a woke bank.
Silvergate was also a woke bank.
And they all got bailed out because we have a woke administration bailing out woke banks for woke projects, most of which could never be viable in a rational free market environment.
Most of those projects are just money-losing, virtue-signaling projects.
These startups, they don't have any real business models.
I've seen some of these.
They're the dumbest ideas ever.
One time I was in Austin.
I forgot even what I was doing there.
And I happened to be in the lobby of a hotel at the same time that there was some kind of a VC startup meeting.
A little trade show thing taking place.
And I was walking through the lobby, and I'm looking at these booths of all these VC startups, of all these names and logos and all these woke people, of course.
And I was glancing at some of their company names and company ideas, and I'm telling you, they were the dumbest ideas I've ever seen.
I can't even tell you how stupid they were.
One group is trying to launch a climate change crypto token ICO, initial coin offering, based on climate change or something.
Are you just stupid?
No one wants your crypto token based on your climate change.
People need real solutions in the real world, not abstractions of climate change tokens, whatever that even means.
But the ideas that I saw were insanely stupid, and yet those are the kinds of ideas that get funded by banks like Silicon Valley Bank.
It's all a virtue signaling cult exercise.
They just find whoever wants money and can virtue signal the most and hire the most LGBT and claim to be fighting the climate or climate change and want to shut down all energy and shut down civilization.
Oh, you get the money.
You get the bailouts.
So we've actually become now, because of the federal bailout here, we've become an economy run on woke-tard virtue signaling.
That is now the fiscal policy of the Biden administration is to give money to Woketards and keep bad bank managers in business and keep bad ideas in business.
Just keep funneling money their way even though they make no sense whatsoever.
They don't accomplish anything.
They're not even rooted in reality.
It's like fantasy land.
It's like transgenderism for businesses or something.
But the Biden administration just wants to keep all these businesses around, so they have to prop them up with, of course, bailout money.
That's what we're watching.
Now, Tom Luongo believes that Jay Powell at the Fed is actually at war with this woke cult by raising interest rates.
That the way this war is being waged, again, under Tom Luongo's theory...
The Fed has just had enough of this crazy, insane socialism, fascism, whatever, communism.
And the Fed knows that bad ideas flourish when money is cheap, i.e.
when interest rates are low.
And so, in fact, it was all the low interest rates, the 0% interest rates, when Trump was president.
And Trump wanted to make them negative.
Remember that?
And he's like, they should take them negative.
This leads to a proliferation of really insanely bad ideas.
And then when you raise interest rates, the bad ideas fail, i.e.
Silicon Valley Bank and bad startup ideas or climate change tokens or whatever.
The problem is that they're not being allowed to fail.
Because the woke parts of the government now, even if you assume that the Fed is fighting against the woke, again, Tom Longo's theory, but the woke parts of the government, the Treasury, Janet Yellen, Biden, and so on, are trying to bail out the woke as fast as they can.
Well, Jay Powell, or Jerome Powell, is going to raise interest rates again this week.
He's going to raise interest rates another quarter point, 25 basis points, most likely.
This is going to cause even more failures of bad banking habits and bad startup ideas and bad venture capital funds and so on.
And so from Tom Luongo's point of view, at least as I understand it, you and I being people of reason and rationality, we might almost want to celebrate the collapse of bad ideas.
would just be allowed to collapse, for God's sake.
And I mentioned to Tom Luongo when I interviewed him a few months back, I said, "So what you're telling me is that this is kind of like chemotherapy for America, where the Federal Reserve is going to raise rates and kind of poison the entire economy in an effort to try to destroy the cancer where the Federal Reserve is going to raise rates and kind And he said, "Yeah, that's a pretty good metaphor." At least I'm paraphrasing, but he said, overall, it's a pretty good metaphor.
So yeah, the whole economy is going to suffer, but the bad ideas will suffer more first if we would only let the bad ideas fail.
And then, once all the lunacy is rooted out of the system, then the Fed will pivot and bring interest rates down and allow the remaining...
More solid business ideas to go ahead and flourish with lower interest rates.
So is that what's actually happening?
Perhaps.
Maybe.
I don't know.
You decide.
What I do know is that raising interest rates is absolutely going to cause more bank failures.
So what you're looking at right now, three bank failures roughly a little over a week ago.
Now Credit Suisse Done in Europe and probably more after effects yet to come and first Republican trouble and so on.
This is probably just the beginning of what is yet to come because there are more interest rate increases that have been sort of pre-announced by the Fed.
It's not just coming up this week.
But then in May and June and July, probably more rate increases.
So where does that put us by summer?
It puts us in, frankly, a cascading banking collapse.
And Bob Moriarty talked about this with Liberty and Finance channel over the weekend and love those guys.
They do a great job.
Bob Moriarty, love that guy too.
He's a Vietnam fighter pilot veteran, by the way, among other things.
And apparently he's got backyard chickens now, so I can't wait to talk to him about backyard chickens when we get a chance.
But Bob Moriarty says the whole system will fail because it's all built on debt that cannot be repaid.
So you look at the derivatives debt.
Perhaps a quadrillion dollars in derivatives debt, or at least we can say 300 trillion sort of on paper officially.
But then if you consider the private derivatives contracts, because these don't have to be reported, it could be a quadrillion dollars or even some say as much as two quadrillion dollars.
Well, what happens as those contracts begin to unwind?
Well, Bob Moriarty says the whole system craters.
He may very well be correct about that because of counterparty risk.
Let's talk about counterparty risk for a second here.
You put money in a bank and you think, oh, the bank owes me that money back because that's my money, right?
Well...
Technically, it's not.
When you deposit, you become a creditor of the bank, and those assets become the bank's assets.
In fact, there's a bunch of bondholders in Europe just found that out to the tune of $17 billion in losses on bonds that were just bailed in.
In other words, Credit Suisse said, yeah, these are ours now.
It's like a little kid with a fresh tray of cookies just baked out of the oven, and the kid Licks his fingers and then taps each cookie.
Mine, mine, mine, mine, mine, mine, you know, with the kid slobber.
And everybody else is like, I'm not going to eat that.
Well, Credit Suisse just did that with $17 billion in bonds.
That's called a bail-in.
They just did it.
So this is no longer theoretical, folks.
This was just demonstrated hours ago.
Just, wow.
Well, that's a great example of counterparty risk.
So if you have money even in, I don't know, some investment account, like Charles Schwab, isn't that like an investment broker?
You sign up with Schwab and you put in your $50 million because you're rich.
You put $50 million in Charles Schwab and you have that all invested in all the super secret locations and railroads and whatever.
And then if Charles Schwab were to go bankrupt, and I'm not saying they are, this is just a thought experiment, random example, but if they go bankrupt and become insolvent, what happens to your $50 million in Charles Schwab?
Oh, oh, it's gone.
And it's gone.
That's called counterparty risk.
That was just an example.
But it can happen with any institution.
You have your money over here, you have your Your credit over there, you have your, I don't know, your bonds, you know, your savings accounts, your mutual funds, and mutual funds have counterparty risk.
Everybody's mutual funds do.
You know, even the mutual funds...
That we were talking about last week, like Peter Schiff's mutual funds, which I just bought a few thousand dollars in one of his gold mining mutual funds.
That's got counterparty risk too.
Counterparty risk exists in almost everything other than Gold and silver, or the things that you have in your hands, in your possession.
That's the thing about having gold in your hands, is that there's no counterparty risk.
In other words, if the whole world collapses, or if the power grid goes down, or if there's a banking crisis, the gold in your hand doesn't vanish.
It's not gone.
No one can easily just come taken away from you.
It doesn't just disappear.
But if you log in to check your account, you log in on a browser screen on your computer, if you're getting it on a screen digitally, it can vanish.
And that happened recently at Wells Fargo where a lot of people's accounts were all jacked up and deposits weren't credited correctly and money was missing.
You know, oh my gosh, what happened?
Well, they had a glitch.
Well, it's all electronic, so yeah, it can glitch and it will glitch and it can be gone.
So I've had quite a few people asking me over the last two weeks, I guess, for hints.
Like, what should I do with my money?
How do I protect it?
Where's a good place to put money where it won't disappear, basically, is the question that everybody's asking right now.
Some people think, put it in the big banks.
It'll be safe there.
It'll be bailed out.
Except, of course, it'll be bailed out with more money printing, which makes the dollars increasingly worthless.
So, as Peter Schiff told me recently, the banks won't fail, but the money in the banks will fail.
And he's right.
The money will become worthless.
So that's not a great option.
And not a lot of people want to just stick money in a bank and just have it sitting there losing 2% every month in terms of purchasing power because of inflation.
So they want to put it to work.
So they're really asking, where do I invest it where it won't fail?
Can I put it in these stocks, bonds, mutual funds?
Gold mining stocks, where do I put it?
And every single one of those things has counterparty risk where all the assets can vanish without notice.
Instantaneously or on a weekend when the banks aren't open.
That gives them a whole 48 hours to cook the books and break the law and steal your money and do a bailout.
That's exactly what just happened with Credit Suisse in Europe.
Lots of Europeans went to sleep Friday night thinking, hey, my money's safe.
I have Credit Suisse bonds.
You know, that's one of the safest investment instruments in the world.
You know, highly rated, it passes all the stress tests and all the regulations and everything.
And then they wake up Monday morning and it's like, and it's gone.
That's counterparty risk.
So it really hit me hard over the weekend.
I mean, I've known about this issue, obviously, for a long time.
And I've talked about gold and silver for a long time.
And land and ammo and so on.
But it really hit me hard over the weekend that the counterparty risk is now way worse than anything that I ever thought it was before.
And so this weekend, I purchased more ammunition.
I cashed out some online silver held in a depository.
I cashed that out.
And I've come to the conclusion that That the only thing that's going to survive what's coming over the next several months and years is going to be those things that have zero counterparty risk and that it's almost impossible to eliminate risk.
Well, it is impossible to eliminate the risk unless you have something in your possession.
And I know I've heard from people saying, well, Mike, are you telling me just like buy gold and sit on gold, but it's not earning me anything.
And I'm like, look, the name of the game here to be a winner is to just not lose.
Yeah, it's not earning you anything, but you're not losing anything.
In essence, compared to the dollar, it's gaining.
You could think of it as working for you because the value of gold as expressed in dollars is obviously going to go higher as more and more dollars are printed and there's more inflation and there's more dollar devaluation.
So yeah, it's not working for you, but at least you have zero counterparty risk.
It's in your possession, not in a safe deposit box.
Not even in a depository anywhere, but in your possession.
I even had a conversation on Friday with a representative of a depository.
And I've got to share this with you.
I'm not going to say the name or which one.
But it's one of these vaults that stores metals for people.
And this vault happens to be insured by Lloyds of London.
You know, Lloyds of London, right?
They insure everything.
Commercial aircraft and yachts and, I don't know, expensive things and artwork, whatever.
This place is insured by Lloyds of London.
And I said to the representative, I said, look, I want to make sure that if it all hits the fan, that I could show up in person, like bring a receipt or something, show ID, and I could actually get physically the silver or whatever I'm storing there.
Is that possible?
And he quite literally told me, he said, yeah, sure, that's possible, but in a collapsed scenario, he said, every vault that we know of is going to declare force majeure.
I said, oh no, force majeure, yeah, act of God.
He said, yep, force majeure, it's in the contract.
It's in every contract.
In fact, if you're storing gold or silver anywhere, And if you go take a look at the contract, there's going to be a clause that is a force majeure clause, and it basically says, you know, we're not bound by anything.
Under acts of God, which could be earthquakes, war, floods, cyber attack, EMP, plague, whatever.
You know how many contracts were invalidated by the COVID emergency declaration?
That's considered an act of God, even though it was actually an act of...
Criminality against humanity by people like Fauci.
That was a biological weapon.
That wasn't an act of God.
It was more like an act of the Luciferians in that case, right?
And people should argue on those contracts.
It's not force majeure.
It's force Satan, you know?
But my point is, these vaults or these banks or these institutions or anybody that's got your stuff, any of them can declare force majeure.
Even carriers, by the way, like UPS and FedEx and the U.S. Postal Service, guess what?
They all have force majeure power also.
Like, if they have a truck carrying your $50 million in gold down the road, should you be wealthy enough to afford such a delivery, and they lose it, I mean, yeah, UPS has insurance if the shipment was insured, but ultimately, if it wasn't insured, they can just claim, ah, force majeure, you know, the truck caught on fire, and it's gone.
They can always claim that.
Any carrier can claim that, any institution.
Any safekeeper of your stuff, any bank, they can claim that even on the safe deposit boxes.
Yes, they can claim force majeure.
So how do you avoid force majeure?
You have it yourself.
And it doesn't mean that you necessarily have to have it in your house or apartment or in your yard or even on your property.
It just means it needs to be within your control.
Your physical control, because what do they say?
Possession is nine-tenths of the law.
Can you get your hands on it?
Are you the only one who knows where it is?
It might be on some other piece of property.
It might be hidden in a storage locker somewhere, or one of those storage...
Like used type of, you know, garage storage things.
What are they called?
You know, you rent like a 10 by 10 foot storage room, right?
And you have a key and you can roll in there and you can store your stuff and you can get your stuff.
Maybe you have $50 million of gold in one of those.
It's probably a bad idea, but maybe you do.
Well, that puts it under your control.
You know, unless you get robbed, which also happens.
Or...
Somehow it gets confiscated.
Maybe that company goes out of business.
I don't know.
Has that ever happened?
Has a storage company gone out of business and tried to take possession of the stuff being stored there?
That would be weird.
I don't know if that's ever happened, but I suppose technically it's possible.
Which brings me to the world's most secure storage method for gold and silver.
I've mentioned this a couple of times before.
I'll just briefly cover it here because it's kind of gross.
But the gross factor is actually part of what makes it secure.
And it's very simple.
Here it is.
And I don't use this myself in case you're curious.
Don't come to my place looking for this because I... I don't talk about the things that I do, but this is the next best thing.
It's very simple.
You have a country property, you put in a septic tank.
You put in a septic tank, right?
So the toilets flush into the septic tank, and then you have a leech field past the tank, right?
Well, that tank gets filled, obviously, with whatever you flush, right?
The most secure place in the world to store gold and silver where no one will mess with it is at the bottom of that tank.
I know.
Pretty crazy.
Yeah.
Like, could you have a total watertight container, fill it with your $50 million worth of gold and sink it in the bottom of your septic tank that's half filled with, you know, whatever?
Would that be secure?
Oh, you bet it would be.
You bet it would be.
No one's digging through there.
No one.
Well, what about when the septic guy comes and cleans out the septic tank with that giant, you know, crap-sucking vacuum?
Well, the crap-sucking vacuum has a, you know, limited diameter.
I don't know what it is, six inches or whatever.
You obviously would choose a container much larger than that.
You know, like something the size of a suitcase, but watertight.
Better be watertight.
Seriously, look...
I'm not saying it's convenient.
I'm just saying if you want to be absolutely sure no one's messing with it, there are options.
There are options.
If you're not into that, you can also do something less drastic.
You can, let's say, go get some quick concrete from the hardware store, pour yourself some, you know, a little sidewalk, pour yourself some garden stones or some little foot stones, whatever you want, and just put your gold inside the stones.
So when the concrete settles and everything, it's like your gold is all encased in concrete.
Very few people are going to look for gold inside concrete, you know, steps, or whatever you have.
You could even take those 8x16-inch concrete blocks that are readily available at the hardware store, and you know how they have two hollow holes in them?
You can stuff your gold in there, and you can...
Fill in concrete for the remainder of it, and then it just makes a solid concrete block with some gold inside, if you wish.
And then, when you need your gold, you just use a sledgehammer.
See, I'm telling you, there are secure ways to do this.
It's just inconvenient.
But you don't have counterparty risk.
And the best part is, of course, that gold and silver are essentially inflation-proof, because as dollars become more worthless, gold and silver become Well, seemingly more valuable represented in dollars, but actually they're just holding value.
They're not going up.
That's why I've always said for people, if you want to get gold and silver, it's not about speculation.
It's not about, oh, this is going to make money.
No, it's probably not.
It's just going to sit there and not lose money, which frankly these days is quite acceptable.
I should mention our gold and silver sponsor, of course, Treasure Island Coins and Precious Metals Company.
You can find them at metalswithmike.com.
And I have some information.
I talked to the owner over the weekend.
He said they still have plenty of gold and silver on hand or inbound.
Some of it is inbound over the next five to ten days.
They've got quite a lot of supply.
Premiums have gone up slightly, but not a lot.
But of course, spot price has gone up substantially on gold over the last week or so or week and a half since the bank failures began as expected.
But, you know, gold is still less than what it was about a year ago after Russia invaded Ukraine.
At that time, it went to 2050.
Remember that?
And right now, at least as I'm recording, this is about 1977, something in that range.
So it's still a suppressed price in many ways.
The other thing I learned also from the president, I don't know, the CEO of Treasure Island, is that if you want to...
They handled a crazy surge of orders last week, as almost everybody did in the gold business.
Everybody.
If you want to reach them, use the phone, not the online form.
Use the phone.
Because it's taking them quite a while to get back with people who just fill out the form.
So definitely call them and know what you want as much as you can in advance.
And this is why it's good to have knowledge of how to buy gold and silver and how to store it.
Oh, don't tell them you're going to throw it in your septic tank, by the way.
That might freak them out.
Is that another health ranger?
A little strategy there?
Yeah, uh-huh.
Don't tell them that.
Let's let that be our little secret.
You know, some things should stay just between us.
Anyway, metalswithmike.com is where you contact them if you want to get some.
I do expect that gold and silver are going to be under a lot of price increasing pressure, but I want to warn you, I do not encourage anybody to buy gold and silver out of a speculative type of approach thinking that it's going to go up.
It could very well go down.
In terms of dollars.
But I agree with Jim Rickards on this.
It's the wrong way to measure gold.
You should measure gold in ounces, not dollars.
How many ounces do you have?
Not how many dollars is it represented by today because dollars are being flooded into the system with endless money printing.
So dollars are not a good measurement whatsoever.
But anyway, as a disclaimer, obviously do your own research and talk to your own financial advisors and don't take this as financial advice.
Do what's right for you.
But I am convinced that more bank failures are going to take place.
And at this point, I'm a little freaked out myself.
And I'm taking steps to get as far out of the system as I possibly, possibly can.
I mean, it's tough.
When the banks go down, look...
We're going to lose money.
There's no question about it because we have to have a certain amount of cash to make payroll and pay vendors.
Oh, I forgot to tell you.
We got our money back from the big loss that happened when we were using Bill.com or yeah, I think it's Bill.com where we were submitting payments to vendors and somehow one of those payments got lost because of the Silicon Valley Bank collapse.
I don't know if it was associated with a vendor or what.
Well, that money reappeared on Friday.
Yeah, it was tens of thousands of dollars, by the way.
And I was literally laughing when this vanished, when I was told, ah, the money's just gone.
I wasn't panicked.
I was laughing my ass off.
I'm like, this is so hilarious that even us, we don't even use these woke banks, that the woke banks can reach out and destroy our money, too.
That's just, that's incredible, you know?
Anyway, the money came back.
Not that it will every time.
Who knows?
This is what I'm saying.
I know we're going to lose money.
We're going to lose a lot of money when this system craters.
And what are we going to be left with?
It's just whatever's in your hands, folks.
Seriously.
I think that's where this is going.
Whatever's in your hands.
Or whatever's under your control.
There's going to be a lot of looting and robberies and so on.
You know, a little secret.
One of the reasons why I show Rhodey on camera in the studio is just to make sure that bad guys think twice before trying to rob me.
You know what I mean?
They think, oh, this guy.
Oh, look, he showed some silver coins and gold coins.
He must have gold and silver.
Well, wait a second.
That looks like a vicious military dog.
No one wants to tangle with a military dog.
You know, not normal people anyway.
So, yeah, I put him on camera.
I mean, he loves the attention too, and it's great to have conversations with him.
He'll put in a little growl commentary from time to time.
But I put him on camera too, just to let people know...
They should think twice because, of course, I'm always armed, too, and you should be thinking about security.
And, you know, I've got an AR-15 right under that studio desk right there, by the way, like ready to roll.
Somebody comes in who shouldn't be there.
First, Rhodey gets you, and while Rhodey's got you busy, I'm grabbing my rifle.
It's going to make people think twice.
Think about this folks.
Think about security in a time of collapse.
Seriously.
Because people are desperate right now.
And imagine how the desperation is going to spread when the banking system collapses.
Oh, did I tell you I bought a new SIG pistol?
I bought the X-Macro.
In fact, here it is.
This X-Macro...
Let me clear it here.
This X-Macro is a great concealed carry pistol.
Because it's very thin, but it looks like 16 plus 1 rounds.
I managed to put 16 rounds in the mag and one round in the chamber.
And yet, it's quite thin.
It's very concealable.
I'm liking it so far.
The trigger's not that great.
Yeah, it's kind of a mushy trigger.
Did you hear that?
I don't even hear that trigger.
It's like, eh, okay.
I've had way better triggers, you know.
It's functional.
The sites are good.
The SIG brand has been good, in my experience.
A lot of good stuff.
So, you know, I'm going to go ahead and keep rocking with this one.
Let me just reload it here.
Alright, got to get that round back in the mag.
Holster it.
Good to go.
But the point is, you've all got to think about security.
Because things are going to get desperate.
There's going to be a lot of desperate, crazy people.
People who did not plan ahead.
People who can't afford food because prices have doubled or tripled or quadrupled.
People who lost everything in the bank and are desperate and don't know what to do.
Many people will turn to asking for help.
Many people will turn to local churches or food banks and so on.
And trust me, we're going to do all kinds of things to help out as many people as we can.
But there would be some element of people that turn to violence and crime and intimidation.
You know, putting a gun to your head, looting your place, trying to steal your stuff.
There's going to be a lot of that.
And there's only one way to answer that, and that's to meet it with Aggressive, immediate force in a self-defense context, of course.
Don't go out and start fights.
But don't let people put a gun to your head and control you and intimidate you.
Be prepared to defend yourself at all costs because times are going to get desperate.
Wasn't it Gerald Salenti that said he's got gold, guns, and a getaway plan, right?
I think that's a Salenti quote.
Yeah, he's got it.
It's the three G's.
Gold, guns, and a getaway plan.
You know, a bug-out route, a bug-out bag, a means of self-defense, a means of portable wealth.
Yeah, we all have to have that.
So consider where we are in history.
We're in some crazy times.
Alright, speaking of crazy times, let me talk about Trump here for a little bit.
And that's pretty much going to be the podcast today.
But Trump, it was rumored all weekend that Trump is going to be arrested tomorrow, Tuesday.
And then kind of late Sunday, there was a hint that, oh, maybe they're going to back off of this.
So first of all, this attempt to arrest Trump.
It's a clown show, right?
It's another desperate Democrat move to try to somehow make Trump look like a criminal when the actual criminals are Hillary Clinton, you know, and the Biden crime family and Bill Clinton.
I mean, the Clinton body count is huge.
I mean, Vince Foster, folks.
I mean, come on.
Didn't Bill Clinton pay off Paula Jones with like $800,000, by the way?
So if paying off someone that you slept with is a crime, and I think that's what they're charging Trump with or trying to, then what about Bill Clinton?
What about all his women that he paid off or had killed or whatever?
I mean, come on.
Obviously, this is all a clown show.
And even Elon Musk tweeted out, I forgot which day it was, he said that if they arrest Trump, then he's going to win the presidency for sure.
Because this will make him more popular than ever.
And I think Musk is correct about that.
It's almost a gift to the Trump campaign, really, to have him arrested.
And I think that may be why they are looking at backing off.
They don't want to make Trump too popular.
They want to just marginalize him.
But by arresting him, they will make him even more visible.
And since so many Americans are so fed up with the Biden administration...
And the inflation, you know, and the food industry sabotage and the joblessness, all the layoffs and everything that's happening and pushing us into World War III with Russia, you know, the shortages of diesel and supply chain disruptions, everything you can think of.
People are so angry at the Biden regime.
If the Biden regime arrests Trump or, you know, not directly Biden, but affiliated lackeys in New York, if they arrest Trump, People are just going to say, this is insane.
This is why we've got to have change in Washington.
This is why we've got to vote for Trump.
I think that's what a lot of people will conclude based on this, if the arrest goes down.
It's almost such a powerful piece of theater that I couldn't imagine Trump's campaign manager's Pulling off a better piece of publicity.
I'm not saying that they're doing this on purpose or anything.
I'm just saying that They couldn't even intentionally engineer a piece of publicity this good.
So the Democrats, you know how the Democrats, every time they try to destroy Trump, they actually end up making him more popular?
And then it always backfires on the Democrats eventually.
Like J6 is backfiring right now, too.
The truth has come out.
It was all run by Nancy Pelosi and the Capitol Police and a bunch of feds.
It's a total setup, just like the Governor Whitmer, Michigan kidnapping fiasco.
Another FBI terror plot, you know.
It's all the feds running all this stuff, right?
It's backfiring.
Well, if they arrest Trump, it's going to backfire in spectacular fashion.
And if America makes it to the 2024 election, and if Trump is still alive at that time, I mean, because they'll try to kill him, then he could very well win the election because of him being arrested this week, if indeed that goes down.
But, you know, just to throw this into the mix here, Robert F. Kennedy Jr.
had said a couple of weeks ago that he was considering running for president, challenging Biden, and trying to get the Democrat nominee position.
And wouldn't that be quite an interesting shake-up, you know?
Robert F. Kennedy Jr.
versus Donald J. Trump.
That would be the...
Robert F. Kennedy Jr.
would be the, let's say, the vaccine truth candidate.
And Trump, assuming he doesn't denounce the vaccines because he still hasn't, he would be the pro-Pfizer candidate, right?
In fact, Robert F. Kennedy Jr.
put out a statement over the weekend that said, I'm paraphrasing, but he said basically that when Trump was elected, he invited me to be part of a vaccine safety group.
And then before that happened, Pfizer gave Trump a million dollars and Trump went all in with Pfizer or essentially something like that.
And then Robert F. Kennedy Jr.
was out of the picture.
Trump didn't want anything to do with him in his administration.
So Pfizer money.
It was used to pay for Trump's inauguration.
Did you know that?
It was only, I think, a million dollars or something.
Not even a large amount of money these days.
But Trump could be the Pfizer candidate for president, which is really going to throw a lot of conservatives into contortions trying to figure out, like, do I vote for him?
Do I vote against him?
You know.
I mean, I hate the establishment totalitarian leftist, but I also hate Pfizer, too.
So it's kind of like, hmm, who do you vote for?
Well, Robert F. Kennedy Jr., if he wins the nomination against Biden, which would take some real doing, assuming he even actually decides to run, because that's a lot to bite off right there, if he got the nomination...
Then that would be pretty cool.
Actually, I support him as the nominee for the Democrat candidate because I think it'd be great to have a candidate that actually is an intelligent, charismatic, compassionate human being who loves this country and is sick and tired of all the insanity and really wants to clean out the swamp.
So I fully support Robert F. Kennedy Jr.
becoming the nominee and Giving Biden the boot out of the White House or out of the Democrat Party because Biden's not in charge anyway.
He doesn't even know what day it is.
Robert F. Kennedy Jr.
would be somebody that the establishment can't easily control.
Whereas Trump has this issue now where he's still pro-Pfizer.
He's still Operation Warp Speed.
He hasn't...
Gone public with the whole fiasco of vaccine deaths and vaccine injuries and so on.
So I think Trump has got some real issues there that he's going to have to figure out how to navigate.
And then Ron DeSantis is kind of on his heels, but DeSantis seems to be attracting a lot of rhino money, and some people say some, I don't know, some George Soros kind of money.
Maybe that's because, you know, the rhino establishment Republicans, they hate Trump so much that they're like, you know, DeSantis, please run, you know.
Just anybody but Trump, I think, might be their position, but we'll see.
You know, DeSantis is doing a great job in Florida, and personally, my opinion is he needs to stay in Florida for another few years and keep cleaning the house and kicking ass down there in Florida.
I'd love to see him stay there and get that job done for a while because he's doing great there.
Anyway, the bottom line for today is prepare for total collapse of the financial system, the Western financial system.
That's...
That's my honest assessment.
Prepare for total collapse of the system.
Not this week.
It's going to take perhaps months, perhaps even a year or two.
But I agree with Bob Moriarty on this one.
I don't see the system surviving long term at all.
It's a system rooted in debt and derivatives and now insane woke politics, massive money printing.
It's an empire of debt that is just teetering on the verge of total collapse.
And again, hundreds of currencies have collapsed throughout history for the very same reason.
Too much money printing.
Too much greed.
But this time we're adding the woke cult politics on top of it, which makes everything even more insane because at least in the Roman Empire they knew 2 plus 2 equals 4.
Today, it's like, no, that's five.
The level of insanity has reached biblical proportions at this point.
So the collapse is going to be even more insane than anything that we've seen in human history.
And yes, that's my prediction.
The financial collapse that's coming will be the largest, most catastrophic collapse in the history, I should say, the known history of planet Earth.
You know, not counting perhaps Atlantis or previous civilization.
Who knows?
They might have had their own monetary systems.
I'm saying, of history that we know of, this is going to be the largest total collapse of the Western financial system.
Western Europe will be destroyed.
North America, destroyed.
Japan, kaput.
Which...
I guess I shouldn't use a German word to describe Japan's demise.
I think kaput is a German word.
Anyway, you get the point.
Total devastation across Western countries.
That's what's coming.
It's a mathematical certainty.
If you believe in numbers and integers and math, then you know this.
It's only a question of when.
And when that happens, what will hold value?
You know the list.
All the same things we've talked about.
And those who don't have those things will have nothing left.
Those who do have those things, which includes ammo and land and whatever else, maybe even owning a small manufacturing company that has manufacturing equipment in it.
You know, the equipment plus some know-how is worth something.
If you can make something, that's worth something.
But people who own the real things will do quite well or relatively well through all of this.
People who don't own real things, who have all their wealth tied up in artificial things like banking and derivatives, checking accounts, and let's say overhyped crypto, although some crypto might make a lot of sense, might even do quite well.
But overall, the real things are what we can count on.
And so think hard about this and watch the news this week and listen to the experts.
Watch the interviews.
Check out brighteon.tv and brighteonradio.com or just watch other people's videos on brighteon.com.
There's a lot of wisdom out there.
A lot of people who know what's up.
And you have every opportunity to be prepared.
For what has already begun and what's going to continue to accelerate.
You have an opportunity here of days or weeks or maybe months.
Use them wisely.
Use them wisely.
Alright, thank you for listening.
I'll be in the studio for tomorrow's episode and through most of the week as well.
Got a lot of interesting guests coming on, so stay tuned for that.
Thank you for your support.
Check out healthrangerstore.com for our in-stock inventory of preparedness food, supplements, number 10 cans with freeze-dried vegetables and fruits.
Almost everything there is certified organic.
It's all lab tested.
We check the levels of metals and glyphosate and E. coli, salmonella, etc.
So it's the safest, cleanest, most heavily scrutinized food, supplements, and personal care products that you'll find on the planet, healthrangerstore.com.
We thank you for your support.
I'll be back with you tomorrow with some hard-hitting guests as well.
So have a great day.
Thank you for listening.
God bless America.
Take care.
A global reset is coming.
And that's why I've recorded a new nine-hour audiobook.
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