All Episodes
Previous Next
Dec. 2, 2023 - Stew Peters Show
32:56
Scriptures And Wallstreet: 64 Bank Branches Closed- New Announcement!
| Copy link to current segment

Time Text
Thank you.
Thank you.
Hey guys, Carlos Cortez with another episode of Scriptures and Wall Street.
Hey, before I get started, I got some important, important news here.
If you guys don't mind, follow me on my new Rumble channel at Scriptures and Wall Street.
We are still going to be with Stu Peters Network.
We're happy to be there, but we're just starting our own channel so we can monetize the show.
I have not been making any money off of the show.
The show definitely costs, so we need to be able to have our own network or our own channel so that we can have it monetized.
So if you don't mind, all the shows moving forward will be on Scriptures and Wall Street Rumble account.
Just go to rumble.com and type in Scriptures and Wall Street and you'll see it.
Only have a little bit of followers right now, but it will grow organically.
So if you don't mind, click over to Scriptures and Wall Street and watch this over there.
I'd highly appreciate it.
But today I just wanted to just have a discussion about...
Did you know that 64 banks closed?
Yes, that's right.
According to an article I just read on Zero Hedge, JPMorgan Chase...
Closed 18 branches.
Citizens Bank came in third with eight branches closed.
Bank of America made five closings.
And a total of...
And obviously PNC had over...
Appears about...
Let's see here.
19 different bank closures from Pennsylvania, Illinois, three in Texas, two in Alabama, one in Jersey, one in Indiana, Ohio, and Florida.
So as we look...
Down the road, and we've been talking about this, guys.
We've been talking about this, and I don't want to say I told you so, but I told you so.
We are going to see more bank closures.
Now, this is technically not a bank closure.
These are branches closing off, like sayonara, like we're done.
Your location is no longer available.
So we can unpack this in certain different ways.
As we know, we've been looking at the KRE stock.
Pull it up right now.
So KRE has been down over negative 38% and as you guys know over the past year anything that goes down an abysmal amount such as that amount always tends to rally up.
Well it's perfect timing because if we look at the volatility index and let me show you a picture of the VIX There's a death cross on the VIX. And what that basically means is whenever you see a death cross, it goes down generally 90% of the time.
If you see a golden cross, 90% of the time it will go up.
Well, we have a death cross on the volatility index.
So that means it will go down.
And as the volatility goes down, typically what happens is there's that quiet before the storm.
We don't know what the storm is.
I think you can kind of figure it out on your own.
But we also want to make sure that the greed and fear index, which is the VIX, is at sustainable levels.
And when it gets very low, pretty much every time certain, there are some dramatic, elastic, violent movements in the market.
We've had a low VIX. Right before COVID, we had a low VIX right before 2008, and so on and so on.
In 2018, when Trump announced the war on tariffs with China, we had a low VIX, and it obviously shot up.
And there was a massive sellout, if you guys remember that, in December of 2018.
So, I have to say the bank closures continue to happen.
We've been saying this.
As the rising interest rates happen, you will see more bank closures.
The banks are not making money.
And that's a big problem.
The banks are losing money and they're closing.
Part of this whole transition is that hyper-digitization error that we are in.
We are in a massive hyper-digitization.
You see Apple coming out with the vision goggles that you can see like a whole desktop of screens and you look like you're in a virtual reality game.
You see smart cities popping up.
You see cars that are taxis that are self-driving and then you plug into the network and or the blockchain and the blockchain takes over and you see Amazon doing the palm reading Apple Pay.
The hyper-digitization of our country is massive and as we get into the financial well-being of America, you see that the consumer is changing more digital.
We no longer need to go to a store for Christmas shopping.
We just go on our phones and And go on Amazon, Luciferian Amazon or Costco or wherever you shop from.
And our gifts and our goods are at our door in two days.
And even getting food to the point where we use technology through Uber Eats.
I mean, everything is so digitally enhanced.
It's not even funny.
But the risk is the banks.
The risk is what if the banks go digital and it actually is happening because they're closing down the banks.
There's no need to have a brick and mortar anymore when there's mobile deposits on the rise.
You can send and receive, right, with this bad boy.
You can send and receive checks.
You can deposit checks.
You can Venmo, Apple Pay.
You can Google Pay.
You can Cash App.
There's so many ways through Zelle that you can pay your bills without even going to the bank.
You used to be able to have to go to the bank, get the cash out, get a money's order, send it back in the 90s.
Not anymore.
Now, you can write an e-check.
You can send it through BillPay.
I mean, technology has completely changed the financial well-being.
But be very careful because if your bank is of FDIC, they probably are now with the FedNow program.
And as you guys know, with the FedNow program, it is there to design to track, trace, and control you.
We understand this.
We understand this is a part of the New World Order agenda.
We understand this is biblical, that you will not be able to have commerce without the mark of the beast.
This is not a joke.
This is reality.
It's happening right now as we speak.
This is why we have solutions at Cortez Wealth.
We have the America First Retirement Planning Solutions.
If you saw the last podcast with the PIA strategy and the Never Tax Me strategy, I could go on and on about this.
We understand that the IRAs, we don't own them.
The government does.
They control how and when we take the money out.
And if you don't, they beat you with a spike bat called a 50% penalty, known as a RMD. So there are solutions out there.
If you have IRAs over half a million dollars, give us a call.
We want to show you how to do a conversion, not to a Roth IRA, because the government owns a Roth IRA, but into a high growth cash value life policy.
That's not a whole life.
You want to be able to carve out through a five year payout, pay the taxes on it in first year and years two, three, four and five.
We borrow against account values using insurance companies money to pay the taxes and we can convert that over a five year period.
It's not meant for all your money.
It's not meant for all your money, but it's meant for the portion that you want tax-free.
You still need liquidity.
You still need to be somewhat in the markets with safety measures, with safety nets.
So we have a covenant process.
All you gotta do is give us a call, 813-448-3446, or visit us at CortezWM.com.
More importantly, everything I say on this podcast is for educational and informational purposes only.
Please understand, I'm not giving investment advice.
If you want investment advice, then book an appointment with us, 813-448-3446.
I, myself, Dustin, or Josh will be able to Counsel you on what you would like to do based on your objectives and now your values and design a custom plan for you.
With that being said, so bank failures are on the rise.
We have the VIX that is very stagnant.
It's that calm before the stone.
What you have to understand right now is...
With all the landscape that's going on, and not even to mention the $400 billion that's due in about 20-30 days from now, by the end of this year, we're having $400 billion in commercial real estate loans.
You think we can fix all this in 20-30 days?
Heck, the freak no, dude.
So we're going to see some riffle effects in the real estate game.
You're going to see home prices go down.
You're going to see a flood of inventory happening of banks just not being able to capture those refinancing deals because interest rates are so high.
So you're going to see a lot of real estate on the market.
And unfortunately, it's going to bring home values down for those of you that are trying to sell for max dollar.
Now is not the time.
You may want to look into renting.
And even renting is going to be difficult because in some cities you can't even increase the rents because people are so locked up in their jobs because wages are not keeping up with inflation.
So the Fed, the scam Fed, and the government, they got a lot to deal with with Bidenomics destroying our country day by day.
Now we have these policies of this idiotic president that is really affecting everyday Americans.
Just the cost of groceries is very expensive.
I was reading an article that literally This article said that they did the math for every citizen.
They're behind about $11,400 in every family, basically, every household.
The average American's behind about $11,000 and a few hundred bucks.
So I totally believe that because of the inflation and the wages are not creeping up.
Not even first home-time buyers.
I'm talking about...
Down payments on homes are at an all-time high.
Like the banks are requiring over 25% for a down payment.
And it's hard to even save when your bills are going up dramatically.
So with all that being said, what is your probability of retiring?
Did you get a number?
Did you get like a success number?
Is your current plan right now In a probable way to retire.
What if you don't know what that number is?
Well, we want to give you a number.
We have the software.
We have the AI software.
We have social security software.
We have taxation software.
We have a lot of AI-based software that can help project you, project where you're headed and where you're currently at.
And all you got to do is give us a call so we can give you analysis on what that is.
But I just wanted to make sure that you guys understand the probability of you being affected by the banks.
It's higher than it's ever been.
So speaking of banks, I recently had a client that called me and said, Hey, Carlos, I got an insert in my safety depository box at my bank at Wells.
And I said, sure, can you email it to me?
And she did.
And basically, they don't want you having more than $10,000 worth of goods in your safety depository box.
So, what you need to know about these laws is that there's securities law, there's banking laws, and there's contract or insurance laws.
When it comes to securities laws, securities laws basically has the 1933 Act, 1934 Act.
You need a licensed advisor to deal with securities, whether it's through the bank or independent or through a wire house.
And what happens is you can't use the word guarantee.
You can't use promissory words when you're dealing with securities because there's risk involved.
The whole thing about securities is that there's risk involved.
Now with those laws can benefit you and they also can hurt you.
As a client, we, an advisor, we have to constantly make sure that your investment objectives, your risk tolerance meets the risk profile of whatever you are purchasing or whatever you're allocated in.
So it's a constant questioning of, are you okay with a 10% drawdown?
Are you okay with a 40% drawdown?
What are your income needs?
Do you need liquidity?
However, securities laws do not offer principal protection.
What I mean by that is, there's no guarantees.
Now, as I shift over into safe money and contract laws, Contract laws basically have guarantees.
You have a contract saying my principal is guaranteed.
You have guarantees that are provided by the insurance carrier by the strength.
Obviously, they're backed by the strength of that insurance carrier.
But what is the benefit of having insurance contract law protecting you is that you don't have to worry about securities law.
You don't even have to worry about banking laws, which is my third type of law when it comes to your money.
The banking law.
Now, the banks can get really, really tricky because when you sign on a bank depository or a checking account, you are relinquishing your assets to the bank.
The bank controls your asset.
You still have access to it in and out, provided the bank has liquidity, has the proper reserves, and that they can honor your request.
But the banking laws, you're relinquishing your rights to the money to the bank based on their contracts, based on their provisions, and according to what they're held to to their banking standards as well.
So one of the things that you need to know about banking laws is that when TARP happened, the Toxic Asset Relief Program, back in 2008, all these bank failures.
You guys remember that?
Washington Mutual was the start of it.
I remember that.
I remember the doors next to my office was a Washington Mutual bank location.
And the owner, or not the owner, the general manager went across the street to Home Depot, got chained, and literally chained the door shut with a lock.
Scary times back in May of 2008.
And basically what that resembled is that there's no longer customers coming in and there's no longer customers that are able to take money out.
It was completely frozen.
They have different laws, guys.
And now, because of the 2008, they don't want the taxpayers to pay and bail out banks.
So now, in 2010, they came together a few years later, a couple years later after the bank bailouts, and they commissioned, Congress commissioned the Frank Dodd Act, which included the commission of bail-in programs, meaning when the banks go belly up, Now I didn't say that PNC, Chase, and Wells went belly up, but they are closing banks.
Now if they actually go belly up like Signature Bank or First Republic Bank or Citizens Bank as of recent, what happens is the FDIC claim kicks in.
The government determines when they pay you back.
Some it's immediately, some it's a few years, some it's a few months, but how do you feel that the government gets to pay you back on their times?
Now, they don't want to do that, so they enacted bail-ins.
And so when you have money at the bank, they will bail in your assets.
The bank literally is now a creditor.
You become a creditor, and they will owe you money on their terms.
So your assets are frozen.
You can't do anything about it.
They literally will bail in your money for the better good of the bank of the solvency.
So for those of you that have...
Hundreds of thousands in CDs.
I highly doubt the bank actually has that money.
They've lent it out 8-9 times to Joe the Plumber and hopefully making 8-12% in returns and giving you CD rates.
They do not require reserve of more than 1-3%.
When you're dealing with insurance companies, they have to, by credit ratings, they have to have a B-rated company has 87.5 cents to 93 cents, generally speaking, to your dollar.
An A-rated company has 93 cents to $1.10.
To your dollar.
So that doesn't mean the B-rated companies are terrible.
They just mean they have lower in cash reserves, but they have cash reserves.
And more importantly, they have a reassurance company that has the same credit rating and has cash reserves as well.
And the third layer is your state typically has a...
A layer of protection there.
Most states are $250,000.
But those are the layers of protections you have when you're dealing with contract law and having private insured accounts.
All you gotta do is give us a call, see what state you're in and what's available.
But these are great accounts, PIAs.
These are great accounts, private insured accounts, to protect your money, to get you out of the banking system.
So you don't have to deal with the dominoes of Which bank is falling apart?
And more importantly, like even your safety depository box, like they're telling you in this PDF here from my client, in her box, they gave it to her, that do not have anything in this box that has a significant value of more than aggregate value of an excess of $10,000 at any time.
Like you have to pay rent to have this box.
So just so you know, when a bank goes belly up, That is part of the real estate.
That real estate is owned by the real estate debenture.
They literally can sell off everything to the bank, including your safe depository box.
So it's not as safe as you think because you are in banking laws.
So I just want you to understand that there's securities law that goes up and down, like your investments will go up and down.
That's legal.
That's the market.
You have to temperature gauge on how much you're comfortable with.
The higher the risk, the more returns you have.
The lower the risk, the lower returns you have.
That's securities law.
We can play in that all day, every day, and I have been in for the past close to 20 years.
There's insurance contract law where we deal with the high growth fixed index annuities or tax-free retirement.
All is wrapped up in insurance contract law that benefits you.
That's outside of the banking laws.
Then you have the banking laws where you have the CDs, you have the checking accounts, you have bank bail-ins, you have bank bail-outs, you have FedNow, you have people controlling your money through the banking system.
Oh, and by the way, these were the same companies that didn't allow you to take more than $3,000 a day.
You remember that?
During COVID. And they wanted you a face mask to even come remotely close to the banks.
I mean, there was banks where you couldn't get your money out unless you wore a face diaper.
Do you guys remember that garbage?
I sure as heck did.
I didn't like it.
So, I just wanted to have a discussion as I'm talking to clients on a weekly basis is that, yeah, banks are closing down.
The branches are closing down.
There's hyperdigitization.
There's mobile apps.
And, you know, how do we fight this?
Because you guys know what the end game...
What is the end game?
What is the end game in all this?
The end game is a social credit score with an oligopoly of banks where the government can control you through your financial dollar and Yes, they probably will go digital dollar.
That's where we're headed.
That doesn't mean precious metals and gold is the answer.
That does not mean that precious metals and gold is the answer.
I believe in precious metals.
I own precious metals.
But you still have that portability issue.
If you have it in an IRA, I'm sorry, that is one of the worst places to own precious metals.
So don't do that.
You need to have it tangible.
And I highly am a big fan of our guys at Cornerstone.
And Cornerstone Asset Metals, you can call them at 888-747-3309.
They're a Christian-based group.
And we only recommend that you don't buy more than 20% of your liquid assets into precious metals.
Precious metals is a commodity.
It is manipulated.
It is, oh man, it can be the devil sometimes.
So just be very careful with it, especially the precious metals dealer.
What also is interesting is that a lot of these gold IRA companies, they don't even have precious metals.
They just sell gold.
Or silver.
So be very careful with that.
You want to deal with someone that does with palladium, copper, silver, gold.
Like that give you a whole boutique of different precious metals.
Because even in that sector, there's different pros and cons.
Like silver.
Silver is suppressed right now in the pricing.
But the government has never taken silver.
Gold?
The government has taken gold twice back.
Because it's a tier one currency.
Silver is industrial metal and really it's an international currency.
And so no one can really take it away from you if they don't know about it.
So we like silver because you need it to work.
You need it to build solar panels.
You need it for computers.
You need it for blockchains.
Now they're putting in clothes so it doesn't have this stench.
And athletic wear.
There's silver pretty much in practically a lot of different consumable goods.
So we do like silver, the functionality of it.
As this world tries to go EV, now that's biting them in a butt.
You're going to need silver for lithium batteries.
You're going to need silver for a lot of things.
And it's possible that silver can go for 10x.
And that would be amazing because a lot of us would be extremely wealthy.
But again, do you buy off a piece of silver and buy groceries?
Who is insuring the silver?
Who is making sure that when the market goes down, your silver and precious metals are going to go up?
Last year, the bond market was down 28%.
Did your precious metals and silver and gold particularly, did they go up or did they go down?
They went down last year.
So it's not an insurance.
It is a securities law.
It is red money.
This is why we have the red, yellow, and green buckets.
So you understand, in the lamest term, red goes up and down.
Green never goes down, only goes up.
Yellow is securities law.
It can go up and down, but we want safety nets.
So this is very, very easy to understand.
And we color code our money so that you have the ability to understand the differences.
Guys, I'm just saying, I am not trusting the banks right now.
The CDs, if you have CDs, CDs, in my opinion, are dangerous.
You could have a bank failure, a bank closure, and now you're stuck.
You're better off having contract law, having a guarantee rate of return backed by the strength of the insurance company, That is employee-owned, that's not going to sell out to China, that doesn't worship the LGBT agenda, that doesn't believe in killing babies and sending their employees across state lines to kill their babies, the employees' babies.
I mean, it's ridiculous what a lot of these woke companies are doing.
We don't want to do business with woke companies.
Also, one question I will ask you is, if you have an advisor, ask him, what industry is off limits when it comes to returns?
What industry are you not comfortable with investing in in order to get returns?
And that is what we're passionate about here.
We have a brand new values-based investment money manager that we're bringing on.
And our current clients will have access to them as well.
But more importantly, we want to keep your money safe from the banks.
We want to keep your money from the manipulations from gold and silver, salesmen.
Not that precious metals is bad, but the guys that are selling it are predatorial in my experience.
So be very, very careful out there.
I have some other updates that I'll share in my next podcast.
Please go to Rumble.com and find us on Scriptures and Wall Street.
If you can do that now, that would be amazing and help out our show.
I will be starting a brand new Telegram and a Twitter.
We're just launching so that we can monetize because a lot of this production costs money.
We need to be able to keep the show running.
So please like and subscribe.
Hit the bell.
Follow us on Rumble as well as X or Twitter, Scriptures and Wall Street.
And I was reading my scriptures this morning, and I wanted to talk about Luke 8, verse 15.
Kind of hit me hard.
So I'm going to read it, and then I'm going to give you the context.
But the seed on good soil stands for those with a noble and good heart, who hear the word, retain it, and by persevering, produce a crop.
So early in the chapter, it says, This is the meaning of the parable.
The seed is the word of God.
Those along the path are the ones who hear, and then the devil comes out, takes away the word from their hearts, so that they may not believe and be saved.
Those on rocky ground are the ones who receive the word with joy when they hear it, but they have no roots.
They believe for a while, but in time of testing, they fall away.
The seed that fell among those stands for those who hear, but as they go on their way, they are choked by the life's worries, riches, and pleasures, and they do not mature.
But the seed on good soil stands for those with a noble and good heart who hear the word, retain it, and by persevering, producing a crop.
So it reminds me of the saying, everybody wants a wedding, but no one wants the marriage.
Everybody wants a wedding, but no one wants the marriage.
How many times have we seen people on Mount Everest, all the corps on Mount Everest, they were once motivated, but they weren't disciplined.
They were once motivated, but they weren't disciplined.
And so this is what my encouragement today is, reading that this morning.
It really hit home because we become Christian karaoke's.
We become...
Positive thinking has destroyed Christianity.
Jesus wasn't a positive thinker.
He wasn't a negative thinker.
He was a truth teller.
And so this positive thinking BS is garbage.
It's false hope, false lies.
Words of affirmation.
There's even this movie called The Secret.
You say words of affirmation and you're believing this new age garbage to hope that one day you become this person and that is the secret.
No, the secret is affirmations with Christ, the blood of Christ, and speaking his words into existence.
That's the secret.
And it shouldn't be a secret.
It's free for everybody.
All you have to do is pray the simple prayer.
I need you in my life.
Please write my name in the book of life.
You are my savior, and I can't live my life without you.
Please change my heart, and I ask that the kingdom of God enter in my body, my soul, and my mind, and that you can change me forever.
In Christ's name we pray.
Amen.
You can pray that simple prayer and your life will change.
But it can fall on deaf ears according to Luke 8, chapter 8, verse 15, that even if you hear, it may not stick and you may not use it.
But the ones that it does stick like a crop, it will be planted in great soil and will produce amazing crop.
So for those of you who are struggling with your faith, your discipline, just your everyday life, Be sure that your soil is good so that you can receive that seed so that God can use you so you can be fruitful.
That's my encouragement today.
I thought that was an awesome word this morning.
And be smart about your money, guys.
Be smart about the banks.
Contact us.
We want to help you.
We're very passionate about helping you.
And we want to honor God in everything that we do.
With that being said, God bless you guys.
I'm out of here.
And I will see you this weekend.
Have a great one.
▲
Export Selection