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March 18, 2023 - Stew Peters Show
38:05
LIVE @7PM: Scriptures And Wallstreet- The Next Bank Run
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Time Text
Thank you.
Aside from the President, he's the most powerful man working to save the economy.
But you've never seen an interview with Ben Bernanke.
Bernanke is the Chairman of the Board of Governors of the Federal Reserve System, better known as the Fed.
The words of any Fed Chairman cause fortunes to rise and fall, and so by tradition, Chairman of the Fed do not do interviews.
That is, until now.
The Federal Reserve controls the economy by setting interest rates.
But after the crash of 08, Bernanke invoked emergency powers and with unprecedented aggressiveness, he's thrown a trillion dollars at the crisis.
Ben Bernanke may be the most important Fed chairman in history.
The question is, can he help lead America out of this deep recession, and when?
Mr.
Chairman, I'm going to start with a question that everyone wants me to ask.
When does this end?
It depends a lot on the financial system.
The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
We've seen some progress in financial markets, absolutely.
But until we get that stabilized and working normally, we're not going to see recovery.
But we do have a plan.
We're working on it.
And I do think that we will get it stabilized and we'll see the recession coming to an end probably this year.
We'll see recovery beginning next year and it'll pick up steam over time.
You think the recession is going to end This year?
In the sense that this decline will begin to moderate and we'll begin to see leveling off.
Now, we won't be back to full employment, but we will see, I hope, the end of these declines that have been so strong in the last couple quarters.
But you wouldn't say at this point that we're out of the woods?
No, I think the key issue is the banking system and the financial system.
Unemployment as we sit here is about 8.1%.
I wonder, do you expect double-digit unemployment?
Well, it's hard to forecast exactly where we're going.
Unemployment is rising, job losses are still very severe, and no doubt the unemployment rate is going to go higher than it is.
But I think, again, that if we do succeed in stabilizing the financial system, that we'll begin to see a slower pace of decline and eventually a stabilization that will set the basis for recovery.
You seem to be saying that we're not heading into a new American depression.
I think we've averted that risk.
I think we've gotten past that, and now the problem is to get the thing working properly again.
Ben Bernanke, age 55, has been chairman of the Federal Reserve Board since 2006.
For our interview, he opened up the Fed headquarters, rarely seen by the public.
It's a monumental building along the National Mall.
Construction started in 1935, in the depths of the Great Depression.
You know, Mr.
Chairman, I think the Federal Reserve for most people is a mystery.
But yet, all of our listeners here, do you really trust the government with your money?
And then in the same breath, you go to these big Luciferian banks and hand them their money.
I don't get it.
I still don't get it.
You gotta start putting your money where your mouth is, guys.
Simply as that.
So we got these bank runs, or fear of bank runs.
Just now, as I'm recording this...
It's about 1 o'clock in the morning.
I was watching Asian markets and I threw a jacket on and I wanted to basically...
I had to just talk about what I was just reading and what I was researching.
Signature Bank has completely been bailed in.
It looks like another fallout, another closing of the bank.
So, here is, on Twitter, here's the Federal Reserve saying, we are also announcing a similar systemic risk exception for Signature Bank New York, New York, which was closed today, which is Sunday, by its state chartering authority.
All depositors of this institution will be made whole.
As with this resolution of Silicon Valley Bank, no losses will be burned by the taxpayer.
So, Shareholders and unsecured debt holders will not be protected.
So here's a bail-in, guys.
We've talked about this.
You shouldn't be surprised.
I like to believe that a lot of our conversations, a lot of this podcast is spirit-led.
This is why I spend time in God's Word every single morning to give me wisdom, to give me discernment.
So that I can bring it out to you guys and you guys can benefit.
I am just a measly vessel.
That's all I am.
But it was put into my heart and my spirit to just talk about the FDIC, to talk about bank bail-ins and why the hysteria.
And next thing you know, all this is unfolding.
We got yet another bank SVP on Friday.
And now Sunday...
March 13th.
Here I am.
2am recording this.
I don't know when this podcast is going live.
But it's 2am.
I had to just talk about it.
It's spring break this week, so I'm going to be spending time with my kids.
I won't have time to do any podcasts, so I had to record this and get this off my chest.
What is a bank run, first and foremost?
Well, it stems back from the 1930s, from the Great Depression.
It's when herds of crowds would just go in, and the risk of a bank insolvency...
There would be a big line and people would just scream and literally run to the bank and take their monies out.
Sometimes, in the modern recent history, you guys remember, we had Washington Mutual in 2008.
That was iconic because I started in the industry in 2007.
And I started an industry.
I was only like 23 years old, 24 years old.
I'm sorry.
I was older than that.
I was about 20, 28.
And...
I remember the branch I worked at.
I worked at an H&R Block office, financial advisors.
They had a financial advisor section with H&R Block.
They sold us off to Ameriprise, also known as Ameriprison.
They also sold their bank and they sold their mortgage department and they just kept the tax.
And I remember our H&R Block office for financial advisors, we were right next to a Washington Mutual.
And in that shopping center was a Home Depot.
And the bank manager, who I knew I saw every day, The bank manager, he actually went to Home Depot, bought some chains and locks and locked the front door because people were trying to get in to get their money out.
And it was a massive hysteria.
That was Washington Mutual back in 2008 and people got bailed out.
And that was when, two years later, that's when the Dodd-Frank Act came out and they changed the law.
They changed the law and said there's no more bailouts.
The taxpayers are not going to pay this.
And in 2010, they changed it to bail-in system with the Dodd-Frank Act.
And here we are, 12 years later, we're going through another similar crisis of 2008.
Hey guys, I'm here to tell you, you don't have to go through this.
We do have the solutions.
We have the solutions to fix this.
So, what is a bank run?
A bank run is when all these people, all these depositors are taking money out of the banks and the banks don't have the money at hand.
They lend the money out.
They lend it to small business owners.
The banks have to stay profitable.
The way they stay profitable is hidden fees, credit cards, offering credit cards and offering those rates.
They offer basically, you know, what do you call those overdraft protection fees?
There's billions of billions of dollars, unfortunately, from people that mismanage their checkbooks.
And the banks make a killing off that every single year.
But the other way is that they make their money is they lend their money out.
They lend their money out.
And if they can't lend the money out because of lockdowns, well, that's another issue.
But another major way that they make a profit is they actually buy securities.
They buy debt securities, also known as long-term bonds.
And these long-term bonds with Biden administration causing a massive, massive fake demand There's no over-demand.
There's a lack of supply with all the train derailments.
The oil productions.
Killing of the oil productions.
Killing of all the chickens and agriculture supply.
And having these terrible deals with import and export countries like China.
And feeding them.
And just all these supply chain issues that have never really subsided.
You're creating a massive demand.
So what do they do?
They jack up inflation.
Well, the banks...
Jerome Powell says inflation should be over 5% that if you think you're crazy, if it's going to be normalized at 2%, well, when inflation rises and interest rates rise, the prices of those bonds that the banks own go down.
Unfortunately, when you have a lot of people doing large cash withdrawals, And you have to call your own bank to figure out what a large cash withdrawal is.
But a large cash withdrawal can be simply just $10,000 or even $5,000 in some banks.
Well, when you have a lot of people doing wires, external wires, domestic wires, large cash withdrawals, and just honestly just taking out lots of cash...
The bank has to go into their own pocket, sell out of their bond securities that are supposed to be secured, and they are secured, but the prices still go down.
They're not secured like what you think they are.
They're just a security.
Security has risk, and there's interest rate risk.
There's a lot of interest rate risk when it comes to the banks.
They actually take a loss.
When you do a large cash withdrawal, they have to sell, lose money by giving you your money back.
And when you have multiple, multiple companies doing that of commercial accounts on top of regular, just personal accounts, you're going to see mass hysteria and you're going to see a bank run.
So we're seeing that obviously with the crypto markets, these banks that are heavily into the crypto markets, they're going to lose their butts, man.
And so Signature Bank got involved in that.
So here we are, the second bank that just went out in a few days.
It is scary, but you don't have to go through that.
We have the solution.
Just give us a call at 813-448-3446 or visit us at CortezWM.com.
We are starting our webinars back up on demand at AmericaFirstRetirementPlan.com.
The links are in the bottom.
Also, I'm going to be introducing some sponsors.
One of them is AmericaFirstWater.com.
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So I appreciate that.
But the bank runs.
The bank runs is a big, big thing.
Now, I'm going to go out on a limb here and say...
Well, this is not a limb.
This is pretty much, you know, where there's smoke, there's fire.
But I really believe there's going to be more banks.
There's going to be more banks that are going to go insolvent and belly up.
There's going to be more bank runs.
And this week alone, we're going to see a big sell-off in some of the banks.
Actually, and I don't want to fear monger.
But I'm not liking what I'm seeing from Wells Fargo.
That stock went down tremendously last week.
It went down, let me pull up my chart here.
It was on Monday, it was trading at 47.01 a share, and now it's at 41.36.
They are trending.
on Twitter and a one of my insider sources that works high up in there in the IT department called me over the weekend and he never he never called me I missed his call but he says I have something I need to share and I'm sure it wasn't good so you got Wells Fargo be very very cautious be very cautious in my opinion I don't think that is a safe bank right now But what is the next bank that's going
to go belly up?
As these interest rates rise, the banks lose money on their bonds.
And they have to sell out at a loss to cater to your large cash withdrawal.
So, just over the weekend, Wells Fargo had a technical glitch where they weren't getting deposits.
Deposits were missing.
I don't know if Zelle's were missing, but I read that regular deposits were missing from personal accounts.
Where there's smoke, there is fire, guys.
Especially when it comes to finance.
So...
Bail-ins is a real thing, guys.
It's been happening.
We said it, as you saw in the first minutes of this episode, the video that I shared.
I did a podcast on it just 10 months ago.
Just 10 months ago.
We basically predicted this.
Like I say, I'm the weatherman.
I can tell you when the storm...
I can tell you the storm is coming...
And I can tell you how to survive it, but I can't prevent it from coming.
And you guys know that this is a part of what is going on because these failed policies by this idiotic administration.
So, what is the solution here?
The solution here is our covenant process.
I'm sure you're tired of me talking about it.
But more than ever, you don't need to be a victim to this.
Quit being a victim.
In Proverbs it talks about blessed is The person that seeks counsel.
Wise is a person that seeks counsel, depending on which version you're reading.
So seek counsel.
We are financial counselors.
So this, and let me say my disclosure, this video is for educational purposes.
We're not giving investment advice.
If you want investment advice, speak to a licensed professional that is qualified to give you advice.
If you are interested in a consultation, give us a call at 813-448-3446 or visit us at CortezWM.com.
We do work with God-fearing patriots and that is our mission, is to help our God-fearing patriots that love Jesus, that love America, that are not afraid to speak about the gospel, that is not ashamed of the gospel, that is not ashamed of bearing arms, that is not ashamed So if that's you, give us a call.
We are not some woke bank.
We don't believe in this LGBT nonsense and this pedophilia that's going on with all these people in Washington and these woke, dumb companies that want to kill babies.
We're totally against that.
And so that's why I founded the America First retirement planning process.
We want to keep your money safe.
We want to give you a reliable, consistent rate of return.
We want to keep it transparent and simple.
Number four, we only want to invest with American-based companies.
And number five, we feel that you should be working with a God-fearing advisor that believes in God, country, and family.
Just like you do.
If that's you, give us a call.
So the bank runs more and more.
So the solution here is get your money out of the banks.
Right?
The regional banks.
I'm feeling that Wells Fargo is not a safe place right now.
I really don't like what's going on.
The stock is down 15-16%.
They're trending on Twitter.
There's glitches.
You can just do a quick internet search Wells Fargo.
It's not good.
When you're doing deposits and it doesn't show up...
Dude, run!
What are you waiting for?
I mean, yeah.
That's facts.
That is just facts.
And then I get a text, phone call from my inside guy from Wells...
Saying, hey, I need to tell you what's going on.
That's not good.
That's not good.
But...
Oh man, holy smokes.
Signature Bank goes belly up after Silicon Valley Bank.
This bailing stuff is real.
Now, is it going to create a mass hysteria?
I think it will.
I think we might see more banks.
You don't have to go through this storm.
This is why I recommend that you secure your retirement.
You buy an insurance contract on your money.
A lot of you have money in the bank.
You don't know what to do with it.
And then you go buy a CD. You know what a CD stands for?
Certificate of Depreciation or Certificate of Disappointment.
So what basically a CD does is that you're giving the money to the bank like a certified fashion, and they're certifying your deposit, but you're waiving the right to that money for an interest rate, a very nominal interest rate.
They're going to loan that money out eight or nine times to different businesses or even other banks or buy securities or do whatever they need to do to make interest off your money and give you peanuts.
So if a bank does go belly up, you are getting the FDIC claim.
I don't know how long it takes for the FDIC to kick in and make everybody whole like they're doing with Signature Bank.
But it says right here on their website that debitors, shareholders will not be protected.
You can't make this stuff up.
The bank goes belly up.
They bail you in.
You become the shareholder.
And you don't get your money back.
There's no more bailouts.
No more bailouts.
So buy an insurance contract on your money.
The government does not have access to anything that's associated with your life.
We have insurance.
Our home.
Our car.
Our cell phones.
We have insurance on everything.
Got insurance on my laptop.
Insurance on the dog.
I mean, just insurance on your business.
There's insurance on everything, guys.
But people are putting money in the bank where there's no insurance.
FDIC is not insurance on your money.
It is a false sense of security, in my opinion.
You need to have insurance contracts.
And you need ones that grow and that have levels of protection.
So when you buy an insurance contract, an insurance vehicle on your money, your money is backed by cash reserves.
It's not a...
Running a bank type of meal where people can take money out instantly and go.
So the insurance companies are more secured.
They have higher regulational standards.
They have to have cash reserves.
They have to have a reinsurance company cash reserves.
In their own particular state, wherever you're at, has cash reserves.
Never in a thousand years has an insurance company on the fixed income side ever been belly up.
AIG, I know you guys think, well AIG went belly up.
Yeah, not really.
AIG had a derivatives department that went belly up.
But their insurance contract, their annuity life division never went belly up.
So, you want to get insurance contracts on your money, guys.
Not the ones that are offered by the bank.
You want the ones that are offered through independent financial advisors.
Whether it's us or someone else, please give us a call.
Let us have a consultation.
You need to get some insurance more than ever.
More than ever before.
So you don't get bank bailed in.
And that your money is secured and contractually guaranteed by multiple insurance companies with billions and billions and billions of dollars.
And that they don't invest their money in crypto or wherever they see fit to guarantee your principal.
Obviously, insurance contracts are backed by the strengths of the insurance company.
We don't want to go with the strongest company because they have the least rate of return.
You want to go with that B-plus that's been around for 50, 60, 80 years, and their triple B's or their B-plus, depending on which credit rating.
But they have a good Comdex score, and they've been around longer than you and I have collectively together.
These are the banks that are pro-America that don't advertise during the Super Bowl.
They don't fee you to death.
You typically have access to 10% of your money each and every year without penalty.
And your money has ability to grow almost even double within five to seven years.
This is a solution right now.
This is part of the covenant process.
Yes, you can buy precious metals.
Yes, you can buy land.
But it's not as liquid.
You need liquidity in retirement.
You need protection.
You need guarantees.
You need de-risk and get away from market correlation.
Also, if you need the money liquid, we'd have a cash alternative fund that's paying well over 4%.
And it's liquid.
There's no need to be in the banks.
Like, why are you guys in the banks?
I can't tell you what's the next bank to go belly up.
It could be Wells Fargo.
It could be Chase.
It could be Regents.
Look at the ETF I explained.
The KRE ETF. It's down.
It's going down.
Those are all the regional banks.
Signature Bank just went belly up Sunday.
Here I am at 2 o'clock in the morning recording this so that I can get this content out.
So you have a way, you have a roadmap to get out of the banks.
You don't need the banks right now.
You don't need the banks.
Precious metals, liquid bucket, a safe guaranteed bucket.
Precious metals, a liquid bucket you can get in and out of, and an insurance bucket to guarantee a portion of your portfolio.
That is our covenant process.
Give us a call.
We want to help you.
I don't want this to sound like a commercial, but I want to just educate you guys and help you get through this storm.
There is going to be a bank run with other banks.
It could be Wells Fargo.
Heck, it was Wachovia back in the day.
You guys remember that?
When Wachovia had some problems and they got bought out?
It was First Union had a problem, then Wachovia bought them out, then Wachovia had some problems back in 2007, I believe it was.
But...
This is what happens when we have high inflation.
This is what happens when you try to take capitalism out of an American system.
You don't let the economy grow organically.
This is what happens when you have bigger government, you Democrats that are listening.
And then you want to move to my own state, Florida, and vote your own way?
No, no, no, no, no.
Please take that garbage and leave it up there.
It doesn't work.
And then you want to call it democratic socialism.
This is the byproduct of democratic socialism.
Put lipstick on a pig, it's still a freaking pig.
So, the other thing, as a bank run, now that you guys know what a bank run is, there is something that wasn't around in 2008 that can exacerbate this tremendously.
And this is what...
This is what could really, really just derail the banks, particularly this week.
It's called a silent run.
So historically, all the bank runs have been physically present.
They've been at a physical location.
They go in, they have these long lines, and they...
You just have to wait your turn and hopefully they have money there.
Typically bank runs people don't have or the banks typically run out of money because the withdrawals are coming out faster than the deposits and they don't have the liquidity there at the bank to sustain all the large cash withdrawals.
So what a silent run is these puppies.
These guys.
Thank you.
Take your money out electronically.
This is really going to be interesting.
Now you have bank runs electronically.
That wasn't an equation in 2008.
That wasn't an equation in the Great Depression.
This is what I'm really concerned about.
If this really gets nasty this weekend, there's another bank that goes belly up.
It is going to create a massive, massive hysteria where now the big names are going down.
And they are going to go down really quick because you can't stop ACH withdrawals.
You just can't.
I mean, I think the federal government will probably shut a banking day down so that the banks can regroup and reassess and then they'll stop processing withdrawals.
And then, boom!
Boom!
Hey guys, I want to make sure the CBDC that you guys are comfortable with because it's much safer, blah, blah, blah.
Next thing you know, they're tracking and tracing.
That's what I can see happening.
They can introduce the CBDC through all these bank failures.
But I don't want you guys to go through that.
Get an insurance on your money.
Call us.
Give us a call.
813-448-3446.
I obviously cannot talk to each and every one of you.
I'm only one person and I have four kids.
I have a wife.
I have a business.
I literally have...
I'm a small business owner.
I manage millions of dollars.
I'm only one person.
So I've hired and handpicked, hand-selected some awesome consultants to help me take calls.
And I just ask that you guys give them the same respect you give them as me.
And we get calls like, oh, I only want to speak to Carlos.
Guys, I'm not a celebrity.
I'm a fiduciary.
I'm not here to protect your feelings.
Really not.
You know who you are.
I'm here to protect your money and give you advice.
If you don't like that, then take your money and go somewhere else.
I do want to say that I'm really concerned about this silent bank run.
The silent bank run is...
Substantially kind of scary.
Pretty scary what could happen.
So, before this storm comes, give us a call.
Let's protect your assets.
It may not look like the traditional protection plan because we do talk about precious metals.
We do talk about...
Fixed index annuities with high growth capabilities as well as cash value life insurance that secure and guarantee your principal and you can borrow against it, loan against it tax free.
We do talk about commercial real estate that you can make A reliable income, regardless of the market.
We have chicken farm feeds.
We have strategic storage units.
We have a grocery store anchored real estate investment trust.
There's a lot of things we can do, but each and every bucket has a pro and con.
Some are not liquid at all.
Some you gotta just not touch it for five to seven years.
Some of it's 100% liquid, and you can access it, but it does have a little bit of risk.
Some of it's just dead money.
Precious metals is dead money.
You can't make an income off precious metals, but daggone, it is a great, great way to get off the matrix.
It's a great way to hedge your stock portfolio.
I'm not here to make 20% commissions off of your gold or your silver.
That is not what we do here.
We're fiduciaries.
We're not salesmen.
We're consultants.
So be very careful.
Right now, all the Jewish mobsters that sell gold and silver and precious metals, they are going to salivate at these bank bail-ins that are happening right now.
Be very, very careful of them.
Ask them in detail in writing how much they charge and get it in writing.
And if you want me to look at it, I'm more than happy.
You can email me at info at CortezWM.com.
Get a second opinion before you sign anything.
We won't even charge you for that.
We want to save you from a financial scam.
We want to save you from financial abuse.
And we want to make sure that you're doing the right thing for you and your family.
So I do want to share my verse right now.
Our enemies are doomed.
They have robbed and betrayed us.
Although no one has robbed them or betrayed them, but their time to rob and betray will end, and they themselves will become victims of robbery and treachery.
Sorry, I can't speak English right now.
Lord, have mercy on us.
We have put our hope in you.
Protect us day by day and save us in these times of trouble.
When you fight for us, nations run away from the noise of the battle.
Their belongings are pronounced upon taking loot.
How great the Lord is!
He rules over everything.
He will fill Jerusalem with justice and integrity and give stability to the nation.
He always protects his people and gives them wisdom and knowledge.
The greatest treasure is the reverence for the Lord.
The brave are calling for help.
The ambassadors who try to bring peace and cry bitterly.
The highways are so dangerous that no one travels on them.
Treaties are broken and agreements are violated.
No one is respected anymore.
The land lies ideal and deserted.
The forests of Lebanon have withered.
And the fertile valley of Sharon is like a desert.
An invention in Mount Camel.
Leaves are falling from the trees.
Isaiah 33, 1-24 Basically, it's a prayer from Isaiah saying, hey, we're going to stop.
We're going to stop this.
We're going to just, God, we honor you.
They've robbed us.
And the Lord is basically saying that, don't worry, they're going to get robbed and abused as well.
So I love that.
That's comforting.
So even though these Luciferians are robbing us people, we the people, our strength and our hope is from the Lord.
He can provide for the birds in the air.
He can provide for you and I. So have faith that God will take care of you.
Do not fear this inoculation.
Do not fear at all.
Have confidence, guys.
Hire counsel.
Hire counsel.
Give us a call.
We'll love to help you.
813-448-3446.
I'm going to go to bed, guys.
I'm exhausted.
But I had to share this.
It was on my heart.
And I couldn't go to sleep.
We will talk soon.
Don't forget to check out the sponsors on the bottom of our link right here.
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