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June 6, 2024 - X22 Report
19:44
Ep. 3372a - First It Was Canada & Now The ECB Just Cut Rates, Fed Cut Coming Around September, Crash
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Hi and welcome.
You're listening to the X-22 Report.
My name is Dave and this is episode 3372A and today's date is June 6th, 2024.
And the title of the episode is, first it was Canada and now the ECB just cut rates.
Fed cut coming around September.
Crash.
Let's talk about protecting our wealth.
There's bad turbulence ahead.
The economy is a minefield right now, ready to detonate and destroy the wealth and dreams of the unprepared.
Bank failures, de-dollarization, debt.
But amidst the chaos, a beacon of hope emerges.
Kevin Sorbo, screen legend Hercules, Christian actor, and outspoken activist for the people, with his economic crisis toolkit crafted in partnership with the experts at Noble Gold Sorbo, is now on a mission to help everyday Americans navigate the coming nightmare.
This shockproof toolkit is your compass through the turmoil.
With recession-proof strategies, inflation-busting techniques, and opportunity-seizing skills to help you not just survive, but thrive in the bedlam.
The crisis threatens to derail your financial future, but you know you can stay on track and emerge stronger than ever.
And the best part, the shield of knowledge is yours absolutely free.
Don't become another casualty.
Enlist in Sorbo's Wealth Warrior ranks today and arm yourself with the tools and tactics you need to protect your hard-earned assets.
Visit x22gold.com now and sign up for the Economic Crisis Toolkit.
That's x22gold.com or click the link in the description.
Let's get right into the economic collapse financial news.
Now, the Deep State, the corrupt politicians, the Private West Central Bank, the World Economic Forum, they are right on schedule in what they're about to do.
Think about it.
They know they need to bring down the system.
They know they need to crash the system to bring us into the Great Reset, the Green New Scam.
And they also know they need to convince the people that everything that they've been doing, everything they've been talking about with the economy, it's working.
The economy is better.
We controlled inflation and everything looks great.
And you have to remember, this is an election year.
So if it's an election year, what do they got to do?
They got to prove it to the people that everything is great.
At the same time, they're going to crash the economy.
Very interesting the way they do these things.
And when you look, you could see that they're not going to be raising rates.
They're going to be cutting rates because again, they need to prove, especially Biden, he needs to prove to everyone that everything that he's been doing and all the installed leaders around the world, everything that they've been doing has been helping the economy.
And this is why you've seen Canada cut their rate.
I do believe that was the first one.
Why?
Because they needed to test the waters.
What would happen if they cut the rate?
Then it's going to spread to the ECB and that's exactly what has happened.
Actually, it looks like they're a little bit ahead of schedule here, but it looks like as we're approaching the presidential election, they want to bring in another rate cut probably by September, beginning of September.
So they got to do all of this now.
And we can see they're following the path.
They're right on schedule.
And I do believe that no matter what inflation is doing, no matter what the economy is doing, they're going to have to cut the rate no matter what.
And I do believe Trump and the Patriots, they knew exactly what the playbook was.
They knew that they were going to go down this path.
And when you start doing this, what happens?
We saw this back in 2007, 2008, they raised the rates.
And then as soon as the economy tipped over, All of a sudden, they dropped the rates dramatically.
The same thing is happening right now, but it's a lot worse.
And you can see that Trump and the Patriots, they have actually accelerated everything.
So people can see the inflation, the high fuel costs, the economy breaking down.
Everyone can see that these individuals that told you everything was going to be fine with inflation, with the fuel prices.
That the economy was going to bounce back.
It has all been one gigantic lie.
We'll be talking about that a little bit later.
But first, since we're talking about lies, we know that the Green New Scam is just exactly that, a lie.
And the World Economic Forum, they are now bragging that they have taken in over a hundred billion dollars via carbon taxes.
And has that improved anything?
Absolutely not.
All it's done is put money into their pockets and they want more of it.
It will never ever make the world greener, the world clean.
That is not their goal whatsoever.
In fact, the evidence is to the contrary.
That not only has the carbon tax not changed the weather, it's made life significantly worse for Canadians for no good reason.
And that's exactly what it's going to do.
It's going to make everyone's life miserable because they're not in it for the green new world, they're in it to control the people.
And if you can tax them, if you can keep them under control, if you can have a central bank digital currency, if you could depopulate, you control the people.
If you control the food supply, you can control it all.
And that's what they really want to do in the end.
But you know it's an election year here in the United States because you could see all the same installed politicians.
They're doing exactly the same thing.
When it's not an election year, what do they do?
Well, we got to raise taxes.
Well, we got to move everyone into the Green News Camp.
Oh, we have to tax people for breathing, for using the roads.
We got to do all these things.
When we get closer and closer to the election, what do they do?
They back off.
And that's exactly what's happening out in New York City.
The governor of New York, remember, they were all excited about this new tax that they were going to put on everyone.
It was the congestion pricing.
And anyone that drove into New York City, oh, we're going to tax all these people.
Well, think about it.
Since they had these trials with Trump in New York, and people and business owners And investment companies and realtors saw how they treated an individual and how they attack them and how they made them pay when there's no crime.
Do you think a lot of these businesses are going to be staying in New York?
Absolutely not.
Actually, New York has been losing people left and right.
Same as California.
And now as we approach the election year, what is the governor doing?
Saying, you know something?
We're going to just hold back on this because it's not the right time.
Well, first of all, the economy is falling apart.
Secondly, it's an election year.
And that's really why they're not doing it because this is unpopular.
Now, if she wins, hopefully not, she will then say, OK, now we're going to tax the people again.
Lee Zeldin put this out and said Kathy Hochul is the worst governor in New York history.
There were already a million reasons, but now she wants to delay her new congestion tax just to get through the election and then put the screws to the voters immediately afterwards.
New Yorkers need to stop voting for this crap.
Councilwoman Vicki Palladino put this out and said, Hochul is just now realizing that 75% of New Yorkers are vehemently against congestion pricing.
Thing is, if it wasn't an election year, she wouldn't care who opposed.
But because some congressional Dems might be in trouble, she's considering a delay to the program until after the election.
And that's absolutely right.
And this is exactly what they do.
You can see it with Biden.
Oh, we're going to secure the border.
Is he really securing the border?
Absolutely not.
So anything that they say, it's because this is what they know that people want to hear.
And what they'll do is they'll just wait for after the election and then they'll just continue on.
Same thing with the Green New Scam right now.
Oh, you can drive it or buy any car you want.
Oh, we're not trying to force people into EVs.
And you can see this is exactly what they do time and time again.
But you know what the people are noticing?
They're noticing their actions.
They're noticing what they have done to the economic system.
That's what the people see.
That's what the people understand because they experience it every single day.
And when you look at the housing market, it looks very, very similar to 2008-2009, but it's 10 times worse.
The CoBC letter put this out on X and said the median U.S.
mortgage payment hits a record $2,894 a month in May of 2024, up 14.1% compared to last year.
This means that the median new home buyer is now spending $35,000 per year on their mortgage.
That's approximately 47% of the median pre-tax household income.
The worst part?
Insurance taxes and maintenance costs are not even included in the monthly number.
If you factor in other home ownership costs, the medium payment is well over $3,000 a month.
This is a crisis and this is a lot worse than what happened in 2008-2009.
And yes, we're seeing everything start to break down and it's going to be slow, but people are going to notice it.
People are going to see it and then it's going to speed up as we get closer and closer to the presidential election.
Because what's going to happen is they're going to cut the rates and we're going to see the system completely implode on itself and people will actually wake up.
Let's talk about protecting our wealth.
There's bad turbulence ahead.
The economy is a minefield right now, ready to detonate and destroy the wealth and dreams of the unprepared.
Bank failures, de-dollarization, debt.
But amidst the chaos, a beacon of hope emerges.
Kevin Sorbo, screen legend, Hercules, Christian actor, and outspoken activist for the people, with his economic crisis toolkit, crafted in partnership with the experts at Noble Gold Sorbo is now on a mission to help everyday Americans navigate the coming nightmare.
This shockproof toolkit is your compass through the turmoil with recession-proof strategies, inflation-busting techniques, and opportunity-seizing skills to help you not just survive, but thrive in the bedlam.
The crisis threatens to derail your financial future, but you know you can stay on track and emerge stronger than ever.
And the best part, the shield of knowledge is yours absolutely free.
Don't become another casualty.
Enlist in Sorbo's wealth warrior ranks today and arm yourself with the tools and tactics you need to protect your hard-earned assets.
Visit x22gold.com now and sign up for the Economic Crisis Toolkit.
That's x22gold.com or click the link in the description.
When the market comes down now I do believe we will probably get a little bit of a scare of the market coming down before the election when the rates are cut and then it will probably bounce up for a little bit and then it will come down right before the election and that's when people will say okay I see what's happening here you just lied to us saying oh no this is just an anomaly and then all of a sudden the market went down again.
The market, the economy, it's all falling apart.
And people are going to really notice this way before the election because they're going to realize that jobs are being lost.
The Gobisi letter put this out and said the U.S.
labor market is getting weaker.
Job openings declined to 80 to 8.06 million in April from a downward revised 8.36 million in March, the lowest level since 2021.
In the past two months, job vacancies plummeted by a whopping 754,000.
Since the March 2022 peak, the job vacancies have dropped by approximately 4 million.
Meanwhile, construction job openings saw the largest two-month decrease on record of 118,000.
All eyes are on Friday's job numbers, which are coming out.
Now, when you look at it, you could see that it's a complete and utter disaster and wages are not keeping up.
E.J.
Antony put this out on X and said, shock of shocks, labor productivity sees downward revisions, but bigger story is on the compensation side.
Look at inflation adjusted wage growth.
It was cut by more than half for the first quarter of 2024 and cut all the way into negative territory for the fourth quarter of 2023.
That tells you everything you need to know.
And the other thing that tells you everything you need to know is that all the job growth In the last couple of years have gone to illegals.
Zero Hedge put this out and said, stunning statistics.
There has been zero increase in jobs for native-born workers in over five years since July of 2018.
Why have all new jobs since 2018 gone to foreign-born workers, immigrants?
Because you can be an illegal immigrant in deportation proceedings, not to mention anyone seeking asylum, and get authorization to work in the U.S. for up to five years.
No questions asked.
Absolutely.
And that's exactly what's happening.
And plus, they are cheaper to hire.
And you don't have to give medical benefits, you can get around all of this.
And this is why they're choosing these individuals to fill this.
Plus, we're looking at the replacement theory right now.
But we could see the fuel prices, they are going up.
And Biden, of course, he's trying to use the Strategic Petroleum Reserves to keep them down.
And let's go back a little bit in time, because remember when Biden told us that he doesn't control the fuel prices?
Well, it looks like he actually can.
Defiant Ells put this out and said, same author, same outlet, 10 days apart.
Why Joe Biden can't do much to ease gas prices.
A couple days later, oil prices are finally falling.
Thank China and Joe Biden.
So think about this for a second.
Think about how they lie to the people.
And people now are seeing this.
Now we could see where we're headed here.
They've been lying to the economy.
The Democrats are all in on the economy.
They believe that these statistical numbers are telling the truth.
Maybe they do.
Maybe they don't.
But it doesn't matter.
They're going to go by the statistical numbers.
And from everything that you see from the manipulative statistical numbers, it shows that the economy is very, very strong.
In reality, it is not.
But they're at the point where they have to prove to the people in this country and around the world that everything that they have done Where they're trying to bring us is actually working.
So what do they do to prove it to everyone?
They have to cut the rates.
Now we've seen Canada.
They have cut their rates by 25 basis points.
And what happened next?
Well, it looks like the ECB confirmed that they're cutting the rate by 25 basis points.
Now remember, they're cutting the rate.
Even though the ECB raised its 2025 inflation target, they don't care about inflation anymore because things are dire.
What do they got to do?
They got to prove to the people that whatever they're doing is working.
So it doesn't matter if fuel costs are going up.
It doesn't matter if inflation is going up.
Yes, they'll manipulate the calculations.
They'll try to convince you that it's not happening.
But in the end, the people are going to realize inflation is moving up again.
And they don't care about that because they really can't control inflation.
Because remember, inflation is cumulative.
It just doesn't disappear.
Yes, the percentage of inflation of how much is going up, yeah, you might be able to modify that a little bit, but you're never going to change the inflation that's already hitting you.
And that's something they can't do unless we get rid of the private Western Central Bank system.
So yes, they can make it 2%, 5%, but it's still going up by 2%.
When you add that on top of the 3,000%, it just makes it very, very difficult for the people to make ends meet.
If it goes up 3%, it just makes it much more difficult for people to make ends meet.
So at this point, they don't care.
All they got to do is show the people, hey, look, everything is working now.
We already have the Bank of Canada.
We had the ECB do it a little bit ahead of schedule.
I thought they were going to do it probably closer to July.
But again, I guess they want to build momentum here.
And it looks like they're already now pricing in a rate cut in September.
And this is coming out of Reuters.
Oil rises 1% as Fed rate cut optimism offsets demand fears.
The U.S.
Federal Reserve will cut its key interest rate in September and once more this year.
So, traders are now seeing a nearly 69% chance of September rate reduction.
So they're already building the narrative.
We already know it's coming.
We've said this a long time ago, and I do believe, it doesn't matter if it's an election year, not an election year, the Fed is now tied in, and has always been tied in, to the criminal system.
The criminal system is What we see out in D.C.
and the installed leaders across the globe with all the other central banks.
So they need to do one of two things.
Number one, they have to show everyone that their policies are working.
And the only way to prove to the people that it is working is to cut the rate.
Didn't they do this back in 2008?
Didn't the rates come down?
Didn't Bernanke say, hey, everything is great.
Look, the rates are falling right now.
Yeah.
What happened next?
Oh, that's right.
The market came down.
We went into a great recession.
Same thing's happening right now.
The other thing they have to do while they're keeping people busy with the idea that the economy is great and everything they did worked, they need to bring the economy down.
Now, of course, they're not going to be telling you, hey, by the way, we're going to crash the economy.
We're going to crash the market.
They're going to say everything is great.
It was the cyber attack.
It was because we're heading towards war.
We were attacked.
That's the reason everything crashed.
And you could see that they're building this narrative right now.
And as we get closer and closer to the presidential election, what are people going to notice?
They're going to notice that the actual economy is breaking down.
Put aside the manipulation.
Put aside what you're hearing from all the financial pundits and the White House and the Fed and the Treasury.
Talk to people on the street.
Most of the people are going to say things are getting worse.
Those people that are being laid off, they're going to say things are really bad.
And yes, the Biden administration, the D's, they're going to try to convince everyone that everything is fantastic.
And this is going to backfire on them because what wakes people up is when the market comes down.
That is the last thing when we are basically already in the recession.
That's the last thing, that's the last indicator that shows people that nothing that they have done is working.
But again, they're going to try to cover this all up with some type of cyber attack.
We already know from the IMF that they have already put that narrative out there that yes, our financial systems are vulnerable to some type of cyber attacks.
So yes, they're going to try to use this.
Yes, they're going to try to make people think that this is why the market and everything else is falling apart.
But again, it's not going to work because Trump has the ultimate weapon, and that is peace.
They won't be able to bring us into war.
They won't be able to keep this narrative up.
And everything in the end will fail.
And people, just like with COVID, when everything started to open up, people will see the truth.
And that's the whole point of this.
And when the people see the truth, they're going to understand that the Biden administration, the Fed, the Treasury, they have lied to all of us, just like they lied about COVID.
Just like they lied about inflation from the very, very beginning.
Just like they lied about the EVs.
Just like they lied about almost everything that they tell us.
So the people, they're not going to believe them.
And I do believe Trump will have all the leverage at this point.
Listen, everyone, thanks a lot for listening.
Be well, be safe and especially be prepared.
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