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May 7, 2023 - X22 Report
16:45
Ep. 3063a - The Biden Administration Begins To Fold On The Debt Ceiling, Red October?
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I I I I I I I I I You're listening to the X22 Report.
My name is Dave in this episode 3063.
And today's date is May 7th, 2023.
And the title of the episode is The Biden Administration Begins to Fold on the Debt Ceiling.
Red October.
Let's talk about protecting our wealth.
Did you know Bank of America is saying gold will go to 2200 this year?
An all-time high?
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With the experts at Noble Gold Investments, you can ride the wave of gold's historic rise to financial security.
This month, they're offering a solid silver five-ounce America the Beautiful Coin with every qualifying precious metals, IRA, or 401k rollover.
You can't go wrong with Noble Gold Investments.
Hurry and go to x22gold.com to secure your wealth.
Bag a free 5-ounce America the Beautiful coin if you qualify.
That is x22gold.com.
That is x22gold.com.
And remember, there's always a risk of investment and there's no guarantee of any kind.
Let's get right into the economic collapse financial news.
Now, the deep state, the corrupt politicians, the private was a central bank, the World Economic Forum.
They're having a tough time right now because their entire agenda is completely falling apart.
The country, the world is waking up to everything that they're trying to do.
And as they bring down the economic system, remember, it's a controlled economic system.
The people are completely awake.
They understand what's happening.
There is no disaster.
So they can see everything the deep state, the World Economic Forum, the private West Central Bank is trying to do.
And as people lose their jobs, as inflation picks up and fuel costs get much, much higher, people start to realize, hey, I know who's responsible for this.
I know why there's a problem.
I know why I have to continually use my credit card just to make ends meet.
This is exactly what we're witnessing.
And it looks like the Biden administration, they're already starting to back up a little bit.
And they're saying, okay, you know something?
We're going to back off pushing the debt ceiling negotiations.
Maybe we'll just come up with an extension and we'll tackle this a little bit later.
And maybe we can push this into the fall and we can negotiate something.
Remember, in the very, very beginning, the Biden administration was coming out saying, listen, we're not going to negotiate.
We're not going to do anything.
And yes, their plan was to bring the entire system down, blame it on the Republicans.
But their plan started to fall apart.
People weren't believing them.
Even the fake news wasn't believing them.
And now they're trapped in all of this.
And now they're looking for a way out, which means they're going to try to push this off probably until the fall.
Does this mean there's going to be a red October?
Maybe.
Maybe not.
We'll be discussing that a little bit later.
But first, let's talk about what's happening with the economy right now because we're starting to see a lot more layoffs.
Burger King right now, they're going to be closing about 400 stores nationwide.
Don't know exactly which stores are going to be closed, but it looks like this is where they're moving towards.
McDonald's right now temporarily shut its U.S. offices as it prepared for corporate layoffs.
And we're starting to see a lot of corporations, they're already preparing for layoffs.
And we could see the economy is imploding on itself.
It's not getting better.
Even though the Biden administration, the White House press secretary, they're all out there trying to convince everyone that the economy is doing great.
Even Biden's out there blaming it on Trump, which we'll be talking about in just a sec.
But we could see that the entire system is starting to fall apart.
When you start to look at the consumer credit, you can see that, yes, the debt load is growing very, very quickly.
Actually, the credit card debt exploded to the second fastest pace on record Just as rates hit an all-time high.
The people, they're having a difficult time.
And what do you always resort to when you can't make ends meet, when you don't have the currency coming in or you get laid off?
You resort to your credit card to make all purchases.
And that's what the people are doing right now.
They are struggling and now they're using credit.
This is not going to end well.
Actually, if you go back to 2008, 2009, a little bit before that, back then, a lot of people were on credit cards, using their credit cards to make ends meet.
And once the entire system completely fell apart, all credit and everything like that just completely imploded.
And I do believe we're heading for the same exact thing when you really start to look at it, especially with the banking system.
Because when you look at the banking system, there are over 2,000 U.S. banks that are completely insolvent.
The central bank system right now is dying.
And this is why they mention it's time for the Great Reset, because they realize that their entire system cannot go any further.
Yes, they can continually kick the can down the street, but eventually what's going to happen is the whole thing's going to implode and they won't be able to control it.
The central bankers, the World Economic Forum, they rather have a controlled demolition because if you have a controlled demolition, you can control what is happening and you can force the people and push them to where you want them to go.
But I do believe Trump and the Patriots, they knew this plan.
They know the playbook.
They know exactly what they're trying to do.
And they are pushing this crisis.
And I don't mean Trump himself is pushing it.
They knew that the deep state would do it, the World Economic Forum, the Central Bank.
They would push this crisis.
They would destroy their old economy to bring us into their new economy.
And while they're in the process of doing that, Trump and the Patriots, they're going to divert this entire thing into another area where they can tell the people, listen, you can either go with the central bank, the World Economic Forum, their Great Reset, the Green New Deal, Remember, their old system didn't work.
The Fed, they said they were going to control inflation.
That didn't work out.
Actually, they brought on a recession.
You can follow them or you can move in a completely different direction and maybe we need to go back to the Constitution where this entire system is backed by gold.
And I do believe there's going to be a component of Bitcoin included with all of this.
Because with Bitcoin, the transactions are a lot easier moving forward because it's all electronic.
Gold and silver, a little bit harder to carry around and a little bit harder to use.
But I do believe you can back Bitcoin with gold and use this moving forward.
And we'll have to see how that all plays out.
But first, when you start to look at what's happening with the banking system, we know that the SEC is doing investigations into what is going on with short selling and what is happening with these banking systems.
And now they're investigating Goldman Sachs.
And I do believe that there are many different entities that are working to bring certain banks down because they're trying to consolidate everything.
And now the SEC is starting to investigate all these different banks.
Remember, the central bank system, the World Economic Forum, is made up of all these banking systems.
And I'm talking about the big banking systems.
I'm not talking about the small regional banks.
That's why they're trying to get rid of them.
But I'm talking about the major banks.
You know, the too big to fail banks.
Those are part of the private what's the central bank system.
And this is why they're trying to move everyone into those banks.
But as you can see, as they try to do this, they are now being investigated.
And the other thing that's very interesting is that the FDIC, they're going to slap banks with new fees to cover the bailout losses.
So the Federal Deposit Insurance Corporation They plan to release a proposal to replenish funds spent bailing out depositors of Silicon Valley Bank and Signature Bank in March by charging fees to banks with over $10 billion in assets and the smallest lenders with under $10 billion in assets would be exempt from these fees.
So now they're trying to replenish because they bailed out their crooks and other people and now they need to replenish their funds but there are now banks that are failing.
Can they keep up with this?
Most likely not.
Not if many, many banks fail at the same exact time.
I don't believe they'll have the ability to actually control the fallout of all of this.
And I do believe the central bank system, their entire system, will start to implode.
Let's talk about protecting our wealth.
Did you know Bank of America is saying gold will go to $2,200 this year, an all-time high?
Invest in a gold IRA with Noble Gold Investments today and take advantage of this rare opportunity to secure your retirement savings.
With the experts at Noble Gold Investments, you can ride the wave of gold's historic rise to financial security.
This month, they're offering a solid silver 5-ounce America the Beautiful coin with every qualifying precious metals IRA or 401k rollover.
You can't go wrong with Noble Gold Investments.
Hurry and go to x22gold.com to secure your wealth.
Bag a free 5-ounce America the Beautiful coin if you qualify.
That is x22gold.com.
That is x22gold.com.
And remember, there's always a risk of investment, and there's no guarantee of any kind.
And I do believe Trump and the Patriots, they're going to have to build up confidence somehow, some way.
Because can you build confidence with funny money when funny money?
I'm talking about the fiat currency.
When the funny money starts to lose value, can the FDI say, okay, we have more of this funny money, but yeah, I know that the currency is losing value like crazy.
So actually, this is not really helping at this point.
Can Trump or the Patriots then actually build confidence by saying, you know something, maybe it's time for us to go back to gold and silver.
Now, this will be during a period of time when we're in this major, major crisis.
And of course, the people will see who's accountable.
They'll want an investigation.
I do believe the Congress, and I'm talking about the House, they will say, okay, we need to start to look at the Fed and see what they've done here.
And I do believe they're going to vote on an audit to audit the Fed.
And once the people start to see what's been going on in the Fed, I think this is going to be a complete another disaster for them.
Now, before we get to that point...
We can see that the deep state players, the Biden administration, they were trying to blame this all on the Republicans and then, of course, blame it on Trump.
And they wanted the debt ceiling crisis to happen right now.
And they were going to say, oh, look, they didn't just raise the debt ceiling.
So it's their fault.
This is why the stock market is coming down.
This is why everything's crashing.
It is all their fault.
Now, the resident, he's claiming with the debt ceiling that no one has ever tied their budget to raising the debt ceiling and responded to charges that former Trump was willing to play ball on issues while he won't by stating that Trump hurt the economy and increased debt while the economy under the Biden residency is doing well.
This is what he said.
The idea someone for the first time is saying, unless you pass the ridiculous budget I have, which is the way I would characterize what the Republican MAGA budget is, unless you pass this budget, you're not going to increase the debt limit and we're going to go bankrupt.
The United States of America is going to renege for the first time in history on its debt.
And you just can't, no one's ever tied them together before.
I've said to the Republican leader, here's the deal.
Take the debt limit, pass it like you did three times when Trump was president, and he increased the whole national debt for 200 years by 40%.
Well, you remember, we did have certain shutdowns where they didn't raise the debt ceiling, where all of a sudden Obama started to close the national parks by putting up gates and fences.
Did that destroy the entire economic system?
Did that destroy the country?
No, the government shutting down doesn't destroy the country.
What it does, it stops this currency going to the deep state players and it stops them from laundering more money.
That's what that stops.
And they don't want people to see that, hey, if this is shut down, you're still fine.
You still can actually go about your business.
Because when the government starts to shut down, they don't shut down the people that are receiving the benefits.
They shut down other things.
And in the beginning phase, it doesn't affect anyone.
And everyone started to realize that during the Obama administration.
But the other thing that's very interesting...
Is that the White House now is mulling a short-term debt ceiling extension if negotiations break down.
So now they said they weren't going to negotiate.
Now they're negotiating, but they're going to say, listen, can we just have an extension to the fall?
Which I find very, very interesting.
Now, this is coming from the Office of Management and Budget Director Shalanda Young, and she hinted that a temporary debt ceiling extension was an option.
Now, yes, have they done this in the past?
Yes, they have.
And they might do it now, which brings us into the fall, could be September, October.
And that brings up the question, is this going to be a red October?
Is this when everything starts to fall apart and crash?
Maybe, maybe not.
But they're trying to push this out because they realize that the people are looking at them saying, okay, if anything crashes, we know it's you.
If the entire system falls apart, we know it's you because you didn't negotiate.
Now they're going to negotiate with But now they're going to say, OK, let's negotiate and let's do an extension just to the fall and let's try to hash this out.
So they're already folding because they realize the public realizes what is really going on here, that they're going to be responsible.
And the deep state, the central bank, the World Economic Forum, they're going to bring down the entire system because they didn't negotiate.
They didn't even try.
And they just said no.
But now they're folding.
And now they're going to extend this, most likely, until the fall.
Or maybe the negotiations will work out, but that means Biden loses again.
Because no matter which way he turns, he doesn't win.
And even if he does extend this, what expires?
Certain things that Trump has put into place.
The economy is just getting worse.
Remember, when you start to look at the economy right now, it's not improving.
It's getting worse.
The longer they go, the more responsible the resident is because it goes deeper and deeper into his administration term.
So if they continually pushing this out, he is in the spotlight.
People see him.
And as it goes longer and longer and longer, people say, okay, now inflation's getting worse.
Now the fuel costs are getting worse.
Layoffs are increasing.
You extended the debt ceiling, so that's not a problem.
So what is going on here?
Your whole inflation reduction act that you said you needed isn't working because inflation's not going down.
I don't care about the percentage of the numbers because when I go to the supermarket, when I go to purchase anything, when I go buy a used car, everything is very, very expensive.
And how do you explain these layoffs that's happening right now?
You see, this is why they are trapped in all this.
And the longer they extend it, the worse it gets for them.
But the optics are not good for them.
So they are trapped in all of this.
This is a no-win situation for them.
And Trump has them exactly where he wants them.
Because remember, they were going to bring down the system no matter what.
They've always planned to bring down the system because they needed to move us from this system that was dying, their system that was dying, into the Great Reset the Green New Deal.
And Trump looked at this and said, hey, why not allow the enemy to destroy their own system?
The optics are fantastic.
I'm out of the picture.
I'll just come up with a solution.
And here's the solution.
You know something?
We need to go back to the gold standard.
We need to go back to the Constitution.
We need to do the opposite of what they're doing.
And maybe we should look into the Fed or maybe we should take the Fed and actually fold it into the Treasury and restructure the whole damn thing.
How will that happen?
Well, when they start looking into what the Fed has been doing because the Fed crashed the entire system, they didn't control inflation.
Well, that will give them ammunition to do that.
And I do believe that's exactly where we're at, and we're going to see some crazy things moving into this fall.
Listen, everyone, thanks a lot for listening.
Be well, be safe, and especially be prepared.
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