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Jan. 21, 2023 - Stew Peters Show
26:17
Scriptures And Wallstreet- The FDIC and CBDC
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Thank you.
Thank you.
I wanted to talk about the FDIC and then obviously there's a lot of rumors going on with the CBDC. Let's just have a point-blank conversation of what that means to us.
And after I share my opinion on that, we're going to share a scripture in Matthew that I was reading this morning, my quiet time.
Hopefully you are having your quiet time with God in the morning, because at the end of the day, we can talk about money.
We can talk about politics.
We can talk about the vaccine and the financial inoculation that's going on with Social Security and your taxes.
But all that doesn't mean anything if you don't have a relationship with Christ.
So if that's you, and you're fearing, and you're footing, fear, uncertainty, and doubt, and you don't have God in your life, you will never get any of this stuff squared away.
So what's more important is to have that relationship with Christ, because at the end of the day, He's the only one that can save us from this nasty, disgusting...
Congress that's going on right now is disgusting.
Financially, it's terrible.
What I see on the financial side with talking with Stu and other investigators, it's disgusting on what's going on.
But we are not here to fear, right?
God has not given us a spirit of fear, but a love, power, and sound mind.
We are called for greatness and we're here to be the salt, right?
We're not here to judge anyone, but we're here to be salt, guys.
So, with that being said, I've gotten a boatload of calls about FDIC, so I had to do a little bit of research and catching up.
FDIC, so I know you're scared.
We got the stock market going up and down, more so down.
We are still in a recession, so you're going to see the market go down even more.
The crypto markets are going up, but I'm predicting a bloodbath this year in the crypto markets.
The bond yields are just still inverted, and the bond market crashed last year over 20%.
Is it a good time to buy the bonds?
Well, some money managers think it is.
Because as interest rates cool off, those prices of those bonds will start to rise.
Mortgage rates are going down, but we're having another movement called the quiet quitting movement where the Z generation and millennials do not want to work or they're working from home.
They don't want to go back.
To work.
It's crazy.
So the whole financial landscape is changing as we speak.
I've said this for five years now that the employment structure of America is going to change.
People do not want to be W2s anymore.
They want to be 1099s.
And so everybody wants to be an Instagram model or TikToker and make money from their phone.
And look, hey, If that's you, so be it.
But this new movement of quiet quitting, they're finding ways to make money from home or having a side gig take over their job and become entrepreneurs.
I wish you the best if that's you, but the landscape is changing in America.
So the government has to find new ways to make money and revenues.
If the landscape of the W-2 employee is changing, they will not be able to Screw you on your IRAs and 401Ks like they have been doing for the past 60 years.
They had to financially inoculate you like crazy.
So I just got done with a client appointment and he has IRAs.
He was 77 years old.
And his RMD was literally 22% withdrawal factor.
They're going to change the withdrawal factors in 2023.
They already have in 2024.
Every single year, it just goes up and up and up that you have to forcefully take your money out.
If you don't take your money out of your IRAs, you will pay 50% penalty.
I'm not a big fan of IRAs.
If you've been following me for some time, you know why.
But I wanted to just basically talk about the FDIC. People are buying CDs thinking that's going to be the best thing to do.
I have to disagree.
I don't trust the banks.
Now, the good news is the banks haven't gone belly up since 2020.
There were four that went belly up in 2020 and 2021.
There hasn't been any.
And, of course, I'm reading the FDIC.gov site.
And so far, no banks have been belly up this year.
But in 2020, they have been belly up.
And over the past 20 years, there's been several hundred that have been belly up.
Why would you trust a financial institution, a bank, a depository bank with all your assets?
The FDIC is owned by the government.
It is for the government.
And you guys are saying all these things about the government, but then you're putting your money in the banks.
That is insured by the government.
It's hypocritical.
Come up with what you want to do.
You're either for the government, you're against the government, or you only trust the government here.
I don't get it guys.
I don't get it.
What I have been saying, all this noise that's going on, all this noise that's going on, the best place to put your money is in insurance.
Insurance products that guarantee your principal.
Not because I sell it and I make a concession.
But it truly is the best thing for Americans that are trying to retire simply because you're going to get a guarantee on your principal with an insurance contract.
Insurance law is what you want in a financial reset, in a financial Armageddon situation.
If the market goes down and gold and silver doesn't go up, what insurance do you have in place to protect your principal?
That if silver and gold doesn't go up and precious metals don't go up or your bitcoin doesn't go up or your land doesn't go up, what insurance do you have that will protect your principal?
What contract do you have is what I'm getting at.
So what I mean by that, guys, is I don't want you taking the risk on your own and you shouldn't take the risk with your own retirement.
You should have a bucket set aside for guarantees and safety and another bucket of money for your speculative investments and for growth and another bucket of money for income.
They should never ever raid each other or commingle and they should be literally set in your retirement plan.
If you don't have one, give us a call.
That's what we've been doing for the past 15 years is setting up these type of accounts.
And what the best part is, is when that financial reset comes, or let's just say that CBDC is actually going to happen.
Well, I will say this is not a prediction.
It's pretty much a guarantee.
The CBDC is here.
It is here, baby.
They are going digital.
It's on the website.
It is on the Reserve website.
It's on the government websites.
They're getting together.
As a matter of fact, let me pull up on their website.
January of 2022, this is what they came out with.
They said, while a CBDC could provide a safe digital payment option for households and businesses, as the payment systems continue to evolve, it may result in faster options between countries.
There may be downsides.
This includes how to ensure CBDC would preserve monetary, financial stability, as well as complement existing means of payment.
Other key factor considerations include how to preserve the privacy of citizens and maintain the ability to combat illicit finance.
The paper discusses these and other factors in more detail.
They're talking about the white paper that you have to download and it's a thousand pages long.
I do not have time to read that garbage.
But the CBDC is coming, baby.
It is coming.
That is not a conspiracy theory.
That is an actual fact.
It's on the government's website, so go ahead and check it out.
Now, if you've been following me for a long time, everything the Democrats and the Socialists and the Luciferians and the oligarchs and all these evil people want to do, they want to trace you.
That's their end game.
They want to trace you.
They want you to buy the digital dollar.
They want you to have crypto wallets.
They want to trace your phone.
I mean, Facebook sells so much of your information because they embedded, if you downloaded the Messenger app, you're allowing them, you're consenting to them to tap your phone.
And anything that you say or do online, your behaviors are registered to your phone number and email.
They sell that email.
Whatever behavior you have, they sell it to that particular person that wants to buy it, and that's why you get targeted, geographic, allocated, geofence, whatever you want to call it, allocated artificial intelligence targeted to your newsfeed 24-7.
I like on-run shoes.
They're made in Sweden.
They're really cool shoes and I was just talking about them and next thing you know I'm getting all these on-run sneakers ads on Facebook.
I was talking about vacuums with my wife and I got vacuum cleaners so I need to take that messenger app off my phone.
They're already tracing us guys and The whole thing.
They just want to trace your money.
You guys saw it just a year ago, or even during COVID, how stupid-faced Biden, any deposit over $10,000 needs to be registered.
Or if you have an account balance over $10,000, a business account over $10,000, they want you to fill out a certain form.
And if you're taking all these excess withdrawals, they want you to fill out a form.
Guys, it's ridiculous.
It's ridiculous.
Where's their freedom at?
So, in order to combat this, use cash.
Every Friday, if you guys can make a challenge, every Friday, payday, whatever it is, just go around businesses and just use cash.
Don't use your debit card.
Just use cash.
You would actually help that business owner.
You would help the local economy.
And if we all would just use straight cash, they can't trace it.
And guess what?
You're not paying fees to the banks.
You're not paying fees to Visa.
You're not paying fees all over the place.
They want to push this digital dollar so they can trace you.
I mean, it is crazy from what I know with the TAS that's coming out.
So transportation as a service is absolutely wild.
I don't know if I've talked about this on a podcast, but they got it down right now where So PayPal and eBay and all these guys are getting on the Bitcoin bandwagon and the crypto.
So pretty soon they already take payments.
You can go on eBay and buy stuff with crypto and PayPal.
And they're already tracing you there.
But what is wild to me is the transportation as a service.
So what is going on?
This new green energy deal and Project 2030 where they want all the cars going EVs.
Electric.
They're going to have self-driving cars attached to an electronic grid And you would need your crypto wallet.
You would need your crypto wallet in order to get a self-driving Uber call it.
And it would be by municipalities.
So if the car is on the grid, it will pick you up like the Domino's pizza delivery that they've tried in test markets.
But the self-driving car will pick you up.
You will pay for it with your digital crypto.
And they trace your financials.
They know where you're going.
I mean, they're just tracing everything.
So it sounds great because you don't have a car payment anymore.
You don't have to change the tires.
You don't have to change the oil.
You don't have to buy gas.
All you got to do is just pay $200- $300 for a car subscription and a car will pick you up unlimited miles throughout the grid.
How does that make you feel?
And they're not stopping there.
They're doing taxis.
They're doing boats.
They're doing airplanes.
They're talking about doing electronic...
Grid, transportation as a service, no pilots with the airplane.
Like that's what's coming down the pipe.
And they're going to trace you guys.
They will trace you.
But what does this have to do with your retirement?
Sorry, I get a little amped up about that.
I don't trust the FDIC. So just so you know, when you go to a bank, the bank is only required to carry 1.35% of your money in cash reserves, known as the DIF, Deposit Insurance Fund.
So when you go to the bank, they only need 1.35.
Recently, they've gotten together and they raised it to 2%.
So if you got 100 grand in the bank, they only need $2,000 to protect your money to claim that they're FDIC insured.
Well, if there's an FDIC claim, which it happened in 2020, four banks went belly up.
The government determines when they get to pay you back and you gotta wait this whole time.
Most of you don't have time to wait.
You're about to face retirement or you're in retirement and you're just trying to consolidate.
So this is where we're getting all this scares from.
This is where we're getting all this Joe Biden's word malarkey, right?
We're getting all this stuff and all this noise and we're fearful and then we're trying to find the information outside of the media and from podcasts from people that have no financial background.
They're not licensed and they don't make a living giving investment advice.
So that's why this podcast is special because we are fiduciaries and I will have to say my disclosure here.
This podcast is for educational purposes.
Do not take this podcast as investment advice.
We are fiduciaries, we are financial advisors, and we are securities licensed.
If you want an appointment, book an appointment with us.
813-448-3446.
I cannot give advice on a public platform like this.
It has to be individualized.
So, see a consultant from your licensed financial advisor.
If you don't have one, give us a call.
813-448-3446.
Okay, I'm done with my disclosure.
Sorry about that.
So yeah, banks, FDIC, they only carry 1% to 3% of your principal in a depository insurance fund.
This is why when you go to the bank and you say, I need $100,000 out of my checking account, they're going to look at you like, hey...
Can you come back tomorrow?
We just don't have that in reserves right now.
What do you mean you don't have that in reserves?
I mean, what are you doing with my money?
Oh, that's because they don't have it.
They loaned it out to Joe the Plumber at 8.5% interest as a small business loan.
So, the bigger the bank, the more risk you have.
If they do commercial lending, if they do small business lending, all these things add risk to the depositories.
And this is where we have bank bail-ins.
If you saw it like just 48 hours ago, Bank of America had problems with Zelle's.
They froze accounts.
They didn't know where it went.
And supposedly everything got rectified.
But you're going to start to see this, guys.
You're going to start to see bank bail-ins happen where banks...
They do not want to have a bailout, so they're going to start tapping into your own money up to $250,000 and pay you back on their terms with whatever interest they seem suitable for them.
So if you have long-term money, don't buy a CD in my opinion.
Put your money with a guarantee on it.
And so there's insurance contracts that have insurance on your money that will give you a guaranteed 5% for the next few years.
That will protect your principal that you can make money off of an index and with a higher participation rate.
So we like to fix index insurance contracts.
Give us a call.
We want to make sure it's right for you and your family.
It is state specific.
Oh man, don't get me started.
My phone is ringing.
Don't get me started on state specific contracts.
Because here's the thing.
Every state is controlled by the NAIC and they determine what is best for their state and what carriers they want.
And quite frankly, like the state of New York, you can't even get these contracts.
They literally do not want safe money products in your state.
There are states that do not want safe money products.
It's absolutely wild.
It shouldn't be ran state by state.
It should be a national thing.
And every insurance company should be able to play In that state.
But unfortunately, it's not that way, guys.
Give us a call.
We service all of America.
We know what states are good.
We know what contracts are good.
We know how to beat the banks.
I mean, that's what we do.
99% of the time, we can beat the banks, your local bank, on rates if you are chasing rates.
But what I love about insurance contracts is they have multiple layers of protection.
The first layer of protection...
Excuse me.
The first layer of protection is they have cash reserves.
A B-rated company, a B-plus company, is going to have roughly $0.87 to $0.93.
An A-rated company, in my opinion, is not the way to go.
A-rated companies advertise during the Super Bowl.
They typically put like $0.95 to $1.10, somewhere around there.
And they claim an A++ will do $1 to $1.10.
But what you'll find is that the rates aren't as strong as a B++ company and they charge a lot of fees typically in order to have this A status.
So A++ is not necessarily your friend in my opinion.
Kind of like an investment grade bond.
Investment grade bond you don't want to buy triple A's because they don't pay the best.
You kind of want to buy like in the middle investment grade.
And that's the same thing with insurance carriers.
You want to buy a strong company that's been around for 80 plus years, have a good Comdex score, and that has the ability to pay death claims and income claims.
And we have those.
We have that information.
So give us a call so that we can help you protect your principal.
There's no reason to be worried about the CBDC. or the FDIC or whatever comes in your way because when you have insurance contract law providing for you if the market falls off if the financial reset does happen You have an insurance contract that they're responsible for.
Not you.
They are.
They're assuming the risk of a financial reset, of a dollar collapse, of a financial meltdown, market meltdown.
You get multiple protections.
And that's what I like this strategy on a portion of your portfolio.
I don't worry about if the bank in their DIF fund for the FDIC is 1.35 or 2%, whatever they're going to call for the reserve requirement.
I don't care because I don't have my assets in the bank where they can just literally take it whenever they want.
That is scary, guys.
So be very, very careful with that.
Give us a call, like I said, or go on our website, CortezWM.com.
Let's see how much we can protect for you.
You need insurance going into 2023.
You need a guarantee on your principal.
The FDIC is honestly not your friend.
You know, everybody's, oh, I'm going to the FDIC because this FDIC is owned by the government.
But then you...
You're talking bad about the government.
I don't know.
Which is it?
Do you trust the FDIC? Have you looked into it?
Do you read the white paper?
Do you know how much they have in reserves or the minimum they need just to claim their FDIC? And if there is an FDIC claim, how long do you have to wait to get your money out?
Those are the questions you need to be asking.
If you had an insurance on your money, And everything happens or an insurance company went and solved it, which hasn't happened over in a thousand years, by the way.
They have cash reserves to pay you back instantly.
Simple as that, guys.
So, guarantee your principal.
This is the best thing to do in 2023 is to have that protection.
I don't know what's going to happen with the CBDC takeover.
I don't know what's going to happen with the overtaxation of Social Security and the increasing taxation.
I do not know.
And guess what?
I do not want to entertain what all could happen because all I know is that you need insurance on your money.
It is scary out there.
But when you have insurance on your money, as a peace of mind, you're putting the risk on the insurance company and not on yourself.
99% of you are out there running without no insurance on it.
If the dollar crashes, what insurance do you have that your gold is going to go up?
What insurance do you have that your raw land is going to go up?
What insurance do you have...
If your bank account is going to be solvent enough, what, $250,000 from an FDIC claim?
Are you joking me?
They could do whatever they want.
They could change the rules of the FDIC in a heartbeat.
They did it last year.
They changed the reserve requirement from 1.35% to 2%.
Uniformly speaking, they want to enforce that by 2028.
That must be the rule.
So all the banks got to start their way to a 2% reserve by 2028.
So, Matthew 6.3.
So, we don't need to live in fear.
If we seek God's face and His righteousness, all these things will be added to you.
So, let that calm you down.
If you have financial anxiety of what's going on in your retirement, There is power in counsel.
In Proverbs it talks about hiring counsel.
So hire counsel.
Seek counsel.
When you call us, you're seeking counsel.
You're seeking godly stewardship advice to help you in your retirement.
You should not be fearing of what's going on.
You should be trusting in God's Word on how to protect your anxiety levels and your money and trust Him that He is stronger than the dollars in your bank account.
So, Matthew 633 is my verse for this podcast.
Seek kingdom God first and all His righteousness and all these things will be added to you.
So hopefully I can leave you with some peace and comfort in mind with that little scripture there, but yet very mighty and powerful.
With that being said, I don't trust the FDIC. I don't trust the CBDC. I think it's just a sigh out to just track you even more.
And we need to hold a line.
And if we need to go back to cash, we go back to cash, guys.
But for now, your retirement needs to be guaranteed.
You need to have a guarantee on your principal.
I mean, it's simple as that.
I don't need to get into, if the president is running the citizen economy from Mar-a-Lago, I don't need to get into theories.
I welcome them.
I welcome them and I do pay attention to them.
And I'm in the system.
I'm in the matrix.
I cannot denounce my citizenship.
I'm here so I can be a light to you guys.
I can be salt.
I can fight the resistance in the system so that you guys can live a financially successful life.
Alright guys, I'm out of here.
God bless you guys.
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