Bypassing the Fed? Gold-Backed Cash Trumps Money Plans Old Glory Pay Explained

➡ This podcast features a special guest, Mr. Mike Ring, co-CEO of Old Glory Bank. Mike discusses various topics including the financial markets, major banks, and his views on the Federal Reserve. He also shares his experience with the failed attempt to take Old Glory Bank public through a unique method called a de-SPAC. Mike believes that the Federal Reserve intentionally sabotaged the deal, highlighting the need for decentralized finance and the importance of privacy in financial transactions.
➡ The text discusses the need for changes in the Federal Reserve and the banking system. It highlights the importance of stablecoins backed by gold and silver as a way to bypass the Federal Reserve. The text also mentions the Genius Act, which aims to put America first in digital currency. Lastly, it emphasizes the need for privacy, security, and liberty in financial transactions, which can be achieved through blockchain technology.
➡ The speaker believes that the Federal Reserve is trying to protect big banks while eliminating smaller ones, making it easier to control the banking industry. They argue that this is harmful to Main Street and limits consumer choice. They also discuss recent legislation related to cryptocurrency, suggesting that big banks are resisting competition from crypto companies. The speaker encourages people to move their money onto the blockchain and away from the central bank, and to push for amendments to the Federal Reserve Act of 1913.
➡ Old Glory Bank, the first chartered bank in Oklahoma, has adapted to the changing banking needs of its customers. Recognizing that many people prefer not to visit physical branches, the bank has established a network of 40,000 free ATMs across the country and a system for depositing cash at 88,000 retail locations. They also have measures in place to protect against fraud and account takeovers. Despite having only one physical branch, Old Glory Bank has effectively created a virtual branch network, providing all necessary services online or through their call center.
➡ Old Glory Bank is working on launching next-gen banking, which will allow customers to move money directly from their FDIC insured bank account to the blockchain, without needing a third party. They are also improving their services, such as opening business accounts in hours instead of days. Old Glory Pay, their early blockchain solution, will soon be integrated into one app for easier use. The bank also offers Old Glory Protect, a free service that provides financial support to the families of protectors (law enforcement, firefighters, military) who die in the line of duty.
➡ Thank you for your past, present, and future contributions. We’re excited for the upcoming holiday season and anticipate some unexpected fun. We appreciate your presence and wish you a wonderful day. Thanks for joining us and may God bless you all.

Hi everyone and welcome to a very special podcast. We’ve had this gentleman on before and we’ve cajoled him for many months to get him back on and he’s graciously agreed with God’s perfect providential timing to come on at this time. I’m referring of course to the one and only Mr. Mike Ring, which he has allowed me to call him by his nickname, Ringer Co CEO along with Eric of Old Glory bank, of which I am, for those who don’t know, a founding member, honored to be a part of it, got in at the last minute thanks to Angie.

Shout out to her in operations and he’s going to be talking about a lot of things going on, the financial markets, what the new Q1 physical year in October we’ve talked about looks like, his take on the Fed, what he sees happening with the major banks, reset, etc so we’ll be excited to get his, his inside thoughts on that of what he’s able to share. If you are new to the podcast as always, please do like subscribe and share. It helps the channel grow and others to gain in the knowledge that you’re currently being afforded. As you know, Mike is a retired Air Force vet, four years active duty and again he is one of the co founders of Old Glory Bank, a private, I would say Christian conservative bank, a patriotic bank, most importantly, where they protect and advocate for the rights of all of their employees and clientele like myself, for the first and second Amendment specifically.

So when you do business with them, they’re not necessarily sharing that information with Big Brother, which is a huge plus. And those of you who have joined know the benefits of it. And so I’m pleased and honored to have the one and only Mr. Mike Ring joining us. How are you doing? Good sir. Thanks for having me. And I wasn’t, I wasn’t ducking you. I was trying to get a deal closed that the Fed blew up and that’s why we’re here today. I know, I’m just, I’m just razzing you. Well, Mike, I know your time is sure, you’re CEO of a very important bank, obviously, and again, I’m honored to be a part of that in some small way.

So let’s start at the top. By the way, how, most importantly, how is your mom? She’s well, thank you for asking. Thank you. I appreciate she’ll be watching. I’ll. I’ll send her regards to you. And vice versa. Full disclosure, John’s mom is also a customer. Yes, yes, that’s true. That’s true. Class act, Mike, thank you. Always. And my regards to your wife and children as well. So, Mike, when we first had you on way back when, one of the most notable things I remember is that you went to Congress advocating for, you know, against the corruption of banks, the rights of the customer, not debanking people based on their faith and political beliefs and ethos systems.

You have a lot to say and I agree with you about the corrupt Fed. What are your thoughts about Kevin Warsh? Friend or foe? And do you see the Fed being baked into the Treasury? Unfortunately, the second question is no, it should be. How the Federal Reserve became an unaccountable fourth branch of government is beyond me. And I’ve actually read the 1913 act of the Federal Reserve act, and I don’t know how we got here and how Congress has allowed it. But let me start with your first question. I don’t think Kevin Warsh is the savior that some of us thought he would be and not because he’s not a good guy.

I think he is a man of integrity. I think he’s a smart man. He’s had a job, which I always say about folks at the Federal Reserve, too many of them have never had a job, so they don’t even know what they’re talking about. They just know what they’ve read. I think the Federal Reserve is so corrupt and it runs so deep that one person like him can’t change it. And I think he’s just doing what he can, but he’s not going to save it, I think, in in anytime soon. And so I’m continuing to be disappointed.

The Federal Reserve, I like to say they’re the kingpin of the big bank cartel. They were put in place in 1913 to protect the big banks. They’ve done nothing but to protect the big banks. They certainly would prefer if there was maybe 10 or 12 banks and all the 4,000 small banks like us went away. And it’s never going to change and Kevin Warsh can’t change it. Well, I agree with you in the standpoint, like that, he’s just one person, right? And he’s got a committee of 12, 13 people, 12 branches of the Fed. We know all that.

St. Louis, Chicago, etc. And we know that Powell is trying to undermine for political reasons. But I also wonder if a lot of this is to take the Fed off the cliff and if President Trump already knows this and has countermeasures, I believe personally that he is going to bring back the gold standard. He’s Going to, as he’s audited the Fed, or excuse me, audited the Fort Knox and talked about that, shown different people involved that the Fed audit will be next. And hey, we don’t really need the Fed. So maybe it’ll be President Trump and some iterations of his team that will push it off the proverbial cliff.

If that happens, I will not miss them. Well, again, I do think, you know, the fact that you’re here running a constitutional bank, running a patriotic bank is testament to the fact that there’s still hope and we are alive and well. And no, in all sincerity, I think that’s it. It’s not like it’s not as if they’re not trying to break us. So as folks know, we hopefully you read we were going to be the first bank to do what’s called a de spac, which is a way to go public without the traditional public offering method.

And it’s a short track way to get there. You merge into an existing public company. No bank had ever done it before. I’m a former securities lawyer. I thought we could be the first. We found a great bank partner, I’m sorry, a great SPAC partner to do it with a company called dac. And last October, we started talking to them. In January, we announced the deal and we worked nonstop. We got the sec, which was no easy feat to make our registration statement effective. And the reason why I say it was no easy feat, not only was it a bank doing the first de spac, but we were the first bank to really go deep on crypto.

And I’ve long said, and you’ve heard me say this, John, you can’t have true freedom in this country unless you have decentralized finance, whether it’s because of the Fed or whatever reason, as long as the world sees how you’re conducting business, you don’t have freedom in this country. And the blockchain allows you to have that freedom. Like with gold tokenization of different things. We got through the SEC and 180 days of going back and forth with the Federal Reserve, literally. On the eve of our important stockholder meeting, the Fed got me on the phone and said we were not going to approve your deal.

No reason. And I’ve written about this and talked about this. And listen, if there was a meritorious reason, a legitimate reason why the Fed should not allow this deal, they could have told me in the first 30, the next 30, the 30 after that, anytime in the first 150 days and we could have pivoted and Done a different structure, but they literally waited to the eve of our deal to blow it up on purpose. I call it was a pocket veto. They didn’t say yes so that they would. By the time they said no, it was too late.

And I’m convinced, because they want Old Glory bank to not succeed. They don’t want me involved because I’m the only banker who’s got the integrity to call the truth out on the Federal Reserve. And I think what they did is unconscionable. And then you could say, well, Mike Ring, if you knew that, then why were you stupid enough and it’s a fair comment. Why were you stupid enough to do a de spac if you needed the Federal Reserve approval? And I will tell you, I was stupid. I actually believe that when they were put on the spot and the spotlight was on them, they would actually do the right thing and say, yes, of course we’ll approve this transaction.

It’s good for America, it’s good for the bank. It brings the bank capital we need and it allows our stockholders to have the public markets they want and they deserve to be able to buy and sell our stock so we can be continued to be owned by Main street, not Wall Street. And I literally thought that they, at the very end would do the right thing, and they didn’t. So I actually own the mistake. I will never make that mistake again. And if we ever go public again, it’s going to be old school, which is called a direct listing.

And that way we don’t need Federal Reserve approval. So we are just another example where the Federal Reserve has purposely hurt a bank that’s owned and run by patriots. And I don’t know how much longer they can be allowed to continue to do this. Congress needs to act. They need to amend the Federal Reserve act and bring them back into accountability. President Trump, to his credit, got the SEC in line. He’s able to get the CFPB in line. He’s able to get the OCC in line, he’s able to get the FDIC in line. But the Federal Reserve cannot get in line because they act like a fourth branch of government that’s not accountable to anyone, not even the stockholders.

And we got to amend the Federal Reserve act and fix this. Well, I agree, but this goes back to underscoring my point, Mike, about the fact that. The fact that when I say we, as a founding member, indirect shareholder, you might say we are proof in yourself, in the bank, that. That they haven’t killed us, that we are still alive and well. And hope is very much a wellspring of optimistic touch points to move forward. And it’s going to be we the people, excuse me, that have to take it back as the Constitution dictated from our forefathers way back when.

We need to get that back. And we’re fighting against evil, but we always win in the end because God. And that’s one of our foundational tenets that we have. So you mentioned something really important because the last time we were together, I believe, or the time before, I had you and CIO Mike Stow and other good gentlemen on the street. Yes. Banking, I always say. Yeah, yeah. Very, very much. Even somehow we threw him a curveball, which is a surprise, but I remember that’s ever happened to him. So well done. Yeah, well, that was our team.

But broken clocks. Right. Twice a day. But anyway, you know, when we brought him on, when you were sort of merging in the crypto side, and this is at the heart of my next question, one of the exciting things I think you mentioned with President Trump with his legislation and compliance aspects is he’s, I believe he’s usually utilizing CBDCs in specific, not, excuse me, not CBDC, my mistake, stable coins backed by gold and silver as a workaround to the CBDCs and work around the Fed to bring back gold and silver because they’re actually backed by gold and, and not pegged.

And one of the ways we know that is May 1st. I don’t know if, you know, Texas is now allowing people their paychecks to convert to either XRP XLM or physical gold and silver, like our grandparents, great grandparents used to be able to do before we came off the gold standard. So with that in mind, now that I can say that correctly, forgive me, folks, I ask you this. President Trump has said that he’s not going to have CBDCs at all. But the legislation, and if I’m not mistaken, is is in Place until 2030. If that’s true, what do you see as plans to make it permanent in the US So it can’t take a foothold.

So I believe that right now, and I’ve said this in your show, even before the Genius act or even earlier drafts of the Clarity Act, I don’t believe that there is a legal ability. And probably the only thing I’ve ever agreed with with Chairman Powell was on this issue, we believe there is no authority to do a digital central bank, digital currency. President Trump has put that in an executive order. I believe he agrees with this. It’s slightly in The Genius act, but it was clearly in the Clarity act to make it a statute and make it so I actually give it little concern that we’re going to have a central bank digital currency.

And just one clarification under the Genius act, and it’s a great act to read. It’s amazing that both sides of the aisle in Congress were able to pass this. It was before everyone turned on Trump again when he was first in his term. And it’s a really smart act, one of the best acts we’ve seen, and actually stablecoins are backed by either cash or 93 day or less treasuries. I don’t think they’ve made the leap yet that a stable coin can be backed by gold. Now you could say, well, all cash is ultimately backed by gold.

And I’m not sure if that’s the leap, but certainly in the language it says that stablecoin. So I think the reason why Trump did the Genius act, for many reasons, not only put America first in digital currency and the Clarity act would help with that, but the big banks are stopping it and I’m happy to talk about that as well. But we want to be the reserve currency of the world, not the petrol dollars, not China, of course. And when you have the security of a US Based stablecoin that you know is backed by either cash or 93 day or lesser treasuries, and I would submit to you that if 93 day treasuries become worthless, then we are where a lot of people think we are and there is no fiat in the US anymore.

And maybe that’s where we end up. But I think the reason why I’m so bullish on the Stablecoin and the Genius act is because what we want to do as Americans is remit payments around the world, even next door, and not have it monitored by the Federal Reserve. Every time you send a wire or make a check, the Federal Reserve has eyes on that. Every time you send an ach, a supposedly nonprofit organization called NACHA has eyes on that. Every time you buy something with your debit card or your credit card, either MasterCard, Visa, American Express or Discover has eyes on this.

The only way you can have the protection, we call it psl, Privacy, Security and Liberty, is to be on the blockchain. And so that’s why I think the Genius act was so smart. Trump could not have gotten through today. Thank goodness he did it in the first quarter, in the first six months that he took office. Congress is so dysfunctional now, and that’s why I think the Clarity act won’t pass. Well, yeah, but here’s the thing is Paul Atkins, the SEC chairman has already come out saying he’s got to work around around that. So that’s what I mean by the thankfully, yes.

And they have already put out rulings that they’ve already determined that a stablecoin crypto is not a security under most purposes. And so you are able to do it. And thankfully that was not under Biden, that was under Trump. That that’s why when I say the SEC in line, the FCC is in line, the FDIC is in line, the CFPB is in line, meaning with America, with the Constitution, because Trump put in people who are smart and pro Constitution. Federal Reserve is not and it never will be until they amend the act to give it less power.

Which is I agree, Mike. Which is why I believe the Fed is slowly being optically of course, pulled out of the mix. Treasury coming in and when you say backed by cash, I want to important denotation before my next question to you is I believe that that cash is your time. Federal Reserve note is going to go away and be replaced with a Treasury note November 8th. As you know, President Trump and Secretary of Treasury Besant have new notes coming out and I believe that’s part of the equation to transition seamlessly from the old system to the new backed by gold and silver, specifically to the previous point.

So it’ll be exciting to see what happens over the next six weeks. Let’s talk about that, Mike, because you brought up a really important point that I wanted to dive in with you. And you’re probably the best and most qualified person in my humble opinion to be able to address this given your reach with Congress having been there before and knowing the makeup of the swamp that you mentioned. About a week and a half ago, Secretary Treasury Bessant we alluded to a moment ago mentioned that he’s going to be putting a major sanction on one of the major banks.

So the two part question is if you know, fine. If you don’t, that’s fine too. Who do you think or suspect that first bank will be and what implications will that have for the other major banks if he does that sanction? I do not know. I’m certainly not in that. I’m not in that. I’m not, I’m not in that circle that I would know. And, and so I don’t have a view on that. That’s fine. But whoever it ends up being, what implications does it have on the other major banks. Once that first gauntlet’s laid down, I’m not sure sure if I share the view after 2023 when the big banks failed and the Federal Reserve and the FDIC swooped in, of course this was under Biden to save those banks because of their belief of the systemic risk to the economy.

I believe that any actions they take against the big bank will be done in a way that it actually protects the big banks, not hurts the big banks. I truly believe that there is the desire of the. I don’t believe Besant’s in on this, but certainly by the Federal Reserve. So if they’re a part of it, to protect the big banks and wash away the small banks. So I’m not sure if I have a view that’s different than that enlightens your view on this. Unfortunately, that’s fine that we’re just having an open dialogue and you have a different purview than we do.

So it’s just good to get your take on it. But that does bring up. Thank you, Mike. That does bring up an interesting point which I wasn’t necessarily plan on asking. But since you raised it, let’s go there. If your contention is that the plan is to wash away the smaller banks and we pray every day that obviously you won’t be one of them because you’ve already taken that sort of standout movement to separate yourselves away from the agenda, how does all glory in your estimation, you and Eric plan to continue to isolate away from the major banks? And how does that help other potential small banks take a stand against said big banks? So we do no business with big banks.

There are banks out there that rely on the correspondent banks where they don’t have the facilities and the services to offer their customers so they actually correspond and connect with a large bank. We’ve never been set up that way. I would have never done Old Glory bank that way. And so any impact on the big bank to us has no impact on our products and services. I believe the reason why the Federal Reserve wants to eliminate small banks is because it’s much easier to have your thumb over 10, 15, 20 CEOs than it is 4,000 CEOs that they have today.

Now remember, just the turn of the century, there was twice as many banks. There was almost 8,000 banks. Today there’s only 4,000. And so I don’t know. I frequently say they’re trying to hurt Main Street. That is the byproduct. What they’re really trying to do is to control the outcome. So if you think about what we saw in Covid and the actions that our government took and I know you’ve talked about this, we would have never thought possible. That’s when we really came to be is that we realized that if the left gets payments and banking, they win and we lose.

So that is where I think ultimately they the Federal Reserve at least and then the next administration, President Harris, the president, aoc, President Abdul is truly going to support this. It’s much easier for them to leverage and control 10, 15, 20 bank CEOs and that’s what they do in Canada. They have very few banks in Canada and that’s why they’re able to control them. This is what’s really happening I think with the Federal Reserve is they’re trying to wash away small banks. And Bessen has said just the opposite, he’s trying to make it easier for small banks.

But unfortunately the actions by the Federal Reserve don’t support that. Well again Mike, thank you. We are going to do our level best as patriots, truthers in this movement to push against the deep state agenda which would include the political aspect you just alluded to. And I think again we the people need to be the ones to take action. It’s worked for our forefathers. You know, history always repeats itself. It always works. So okay, so let’s. You wanted to talk about some other things with the Fed. So I’m going to open the door for you to kind of articulate anything that’s passionate on your heart.

Want to share? Yeah. So why don’t we spend a second on the Clarity Act. I think there’s been some confusion about this. So there’s two really legislations that have happened recently in crypto. The Genius act which authorized stablecoin, which again I’m a huge fan of because it allows transactions without the prying eyes of government. Clarity act actually regulates on the things about what they’re called exchanges. So if you think about stocks, they’re traded on New York Stock Exchange, Nasdaq, other exchanges. Today crypto is really traded mostly on decentralized exchanges. The Clarity act is going to ensure that that is done safely and soundly for the consumers.

Because what we don’t want is there’s a tough balance between Mary Lou in Paducah, Kentucky being duped by a bad actor exchange and the over pressing hand of regulations. And I thought the Clarity act was a good balance. But just to show yet again the protection that the big banks are asking for is they don’t want, they don’t want competition from crypto companies. And so what happened in the genius act, they made it clear that if you issue a stablecoin, you have to take back cash and either keep that in cash or Treasuries and you’re not allowed to pay interest on it.

Unlike a deposit account, you can pay interest if you give me your fiat. And people say, well, why is that? And the reason why is there’s no FDIC insurance for a stablecoin. But I’ve always said you don’t need the insurance because a bank can’t lose the reserve account for a stablecoin because you take the cash, you keep it in cash, you don’t loan it out, you don’t pay interest. Same thing with fits in Treasuries. And so with that, they’ve said if you issue a stablecoin, you cannot pay interest. Unfortunately, there was a little bit of a workaround where if you’re a downstream issue of a stablecoin, you could pay a reward.

And the big banks are worried about that reward taking their deposits. So someone could move their money out of a big bank. And most big banks are not sufficiently liquid that even 10% or 15% deposit withdrawal they could handle and put it on a stable coin to get a slight reward. They have been the lobby behind the Clarity act to not pass because they were trying to get into the Clarity Act a provision that these downstream issues of stablecoin could not pay a reward. I’ve always said I want the competition, allow the free market to happen.

That to me, is just another example of the big banks truly pushing back against America, trying to take your choice away from you and to do the different things that you want. I know the Federal Reserve is also supporting that provision in the Clarity act, and now it won’t pass because we’re up against the term probably. Those are the two big things I want is, folks, we’ve got to get our money onto the blockchain. We’ve got to get into gold, we’ve got to get into precious metals. We’ve got to get it out of the prying eyes of the central bank.

You have a view on how the central bank goes away? I think it’s got to go away through legislation or amendment to legislation. And I just want people to keep pushing, you know, amend the Federal Reserve act of 1913 is what we’ve got to start pushing on Congress. And no one ever talks about that. So we’re starting right now. John, Amend the Federal Reserve act of 1913. Well, most things were in agreement and that is certainly absolutely paramount and one of them for sure. Thanks Mike. One of the things I always thought when I became a founding member was honored to do so that intrigued me about Old Glory is we mentioned it earlier the no delisting new do banking based on your personal convictions your faith convictions.

You know if you buy precious metals or weapons and we know Eric is a staunch advocate of the second amendment as by the venison venison on his on his walls which is fine but you know that that’s those are two any true patriot those are the the hallmarks where you start right when you talk about true freedom. But one of the things that was interesting that you took as an approach is you additional elements and you merged it with technology in that you’ll you’re in Elmore City. You only have a couple of branches there. The rest of it’s digital.

However if I’m not mistaken and correct me if I’m wrong because I’m wrong a lot 40 I think you have 40000 branch locations that you work with across the country. I talked with Angie and show me all the ones here in the Nashville area where I could go to get cash advances or so on and so forth. So a lot of these bigger banks are trying to have overreach of limiting how much cash you can have or what you’re going to do with that cash. Old glorious free of that problem. Thank how did you make that relationship with all these different banks large and small happen from a relatively small footprint.

So great. Thank you for that. So we have one beautiful branch on Main Street. When we say we’re a bank for Main street owned by Main street we have 6600 great stockholders today we really are in Main Street Elmore City. It’s the greatest thing. So we’re 206 Main Street. Elmore City. So we’re a branch from 1903. It’s been there. Oklahoma didn’t even become a State till 1907 and we were and while there were some banks that were established before we are we were the first chartered bank in Oklahoma. So we’re really just proud to take on that heritage at Old Glory Bank.

But one of the things we always knew is Covid proved it to us that people didn’t want to walk into a branch and listen I’m a big proponent. I love the small community bank. I believe there there is a need still to walk into a branch. We have the only one. I’ve always said if we do open an extra next one will likely Be in the villages in central Florida or Nashville, where you are now, because I think the country music industry loves us and we should provide a branch for them. But we had to do two things.

So one is we have 40,000 free ATMs across the country. So you can walk in, basically you can use your debit card, any ATM on the planet, but we have 40,000 of them are free. So you can withdraw cash and you can find in your app where a free one is or just walk into any, just go to any ATM in any bank and use it. But the other thing we had to solve for, and it happened in a great, we were actually in Oklahoma at a dinner when we were first launching the bank. We were telling a server what we were doing and he was in Oklahoma City where we were having dinner, but yet our branch is down in Elmore City, 60 miles away.

And he said, oh, I would love to bank with you. Everything you guys talk about, I love, but I, I get some cash as tips and I don’t want to put my cash into an ATM machines. And most ATM machines no longer allow you to put cash in. And we support that because of the fraud risk and the danger of that. And I don’t want to drive to Oklahoma, I’m sorry, Elmore City, to deposit our cash. So what are you going to do? So I was with Michael Stahl, the smartest man in banking, hit him upside the head and said, solve this.

Two weeks later he came back what we call Old Glory Cash in. And that’s where 88,000 locations. Not other banks, but retailers. Every Dollar General, every Walmart, every Walgreens, our truckers can walk into every loves and pilot every CVS and deposit cash. You walk up to the register, you give them the cash, you show them a one time use barcode. And it’s very easy. When people do it the first time, they can’t believe how great it is and seven seconds later in your bank. So if you want to withdraw cash, you have an atm, you know, all over the world if you want to deposit cash.

We have 88,000 locations. So we basically have built a virtual branch network because that’s really the only reason to walk in a branch. If you need a certified, if you need a cashier’s check, you can get that through our call center. Everything else you can do online. So we feel like that one branch model with maybe one in Nashville, maybe one in the Villages, is the future of banking. And we’re really proud of what the team has done. Yeah, absolutely. It’s a very innovative way to do it. And what’s nice, too, when I was talking with Angie, is you have the ability.

I think it’s $1,000 limit a day, but if you need more, you can do whatever you need. And she opens it up and you can go, yeah. So fraud is a big issue. Like, I hate to think. And we as good people would say, well, everyone who believes what we believe is a good person, and it’s unfortunately not true. And maybe they probably don’t believe what we do, but we actually do get fraudsters. And it is really sad. It is still a real thing. And you and I could think it’s not possible, but nice people like my mom, nice people like your mom are still every day sucked into what they call phishing.

Someone sends a text with you, and maybe they’ve seen that you bank at Old Glory bank, or maybe they’re guessing, or maybe they think you bank at Truist, whatever. But they always say, did you authorize. It’s the classic example. Did you authorize this charge? And someone’s looking, no, I didn’t authorize a $75 charge with Hertz. We’ll call here. They call here. They say, now, what bank do you bank with? And they say, well, this great. This is Oak Lorry Bank. And then they still convince them to turn over the keys to their account. So one of the ways it’s.

We call that an account takeover. One of the ways that we limit account takeovers is that we limit the amount you can take out of your account. Because God forbid you did fall subject to a phishing. You don’t want someone to drain your account. So that’s why we make you. We put in some basic limits, but then we make you call up and so we can prove it’s really you, John, or really your mom and not an account takeover. That’s the only reason why we do it. Other banks do it because they don’t want you spending your money.

We do it just to protect the stop account takeovers. Unfortunately, there are entire organizations off offshore that are just fishing. And another bad thing is just a romance scams. Just beautiful. Older people are just fall in love online with a fake person. Often want someone. Maybe you think you fall in love with a woman. It’s actually a man on the other side of that, just these sweatshops overseas. And so this online fraud is a real thing. And one of the things that drives me crazy about the government is they’re so worried about things that will never matter in, like day to day.

Like, they’re always worried about money laundering. They’re always worried about all the things that they talk about when that’s a really small issue. The big issue is good humans constantly being scammed day in and day out. And there’s not the right amount of task forces. There’s not the right amount of involvement from the regulatories. And so US banks are doing everything we can to stop good people from being taken advantage of. And thanks with our technology, dual factor authentication, even the way we look at anomalies in your login. So, John, if you logged in today from here and then six hours later you logged in from Dubai, we’d be like, there’s no way John is flying that fast.

And so we have those type of. And so people always think that when we, when we say something like that we’re trying to spy on you. No. Well, one is. You can trust old Lori bank and crazy Mike Ring that, that we’re going to use the data for the good reasons, but we’re doing it to protect you from being spoofed. No, I haven’t. I’ve experienced it when I had to make larger purchases for furniture or something like that. And you know, and it’s good. It’s protection and peace of mind, which just speaks to the integrity of Old Glory.

And I, I would almost consider that intuitive banking kind of what you were des. Describing. I’m gonna steal that. Thank you. Go ahead, go ahead, be my guest. Once in a while we come up with a good one. Remember, no Glory bank, you never talk to a bot. You always thought the human being. No, you really do it. That’s a true statement. And I’ve asked other people who have joined because of our suggestion, and they’ve all had unanimously good, of their own accord, things to say, which. Which again, is more confirmation and peace of mind. As we kind of round the bend here of the podcast, one of the last things I wanted to ask you about is if you’re able to do so, because I know a lot of this stuff is sensitive information, but the best of what you’re able to share.

We’re now at this point coming to the precipice of Q4, I call it Q1, the new fiscal year for the west, as you know, which is always a big demarcation. We’ve got big meetings going on this week in the UN with President Trump. He’s got a full schedule. There’s a whole cacophony of things going on with that, financially, geopolitically, with these different Countries, trade deals, resets, what have you. What does Old Glory have that you can share on the docket for the remainder of this year? New innovations, new things coming in that you would like to talk about.

So I wish it was something new from the last time we spoke, but it, but I, because I didn’t get our deal done. That’s still the, that’s still the big. So we need to still complete a capital transaction that the SPAC would have done for us and we have a couple of things lined up for that. But we are still sitting and it’s just driving me crazy. We are still sitting on the sidelines waiting to launch next gen banking. And again, I can’t overemphasize how important it is for a customer to be able to move fiat from their FDIC bank insured account directly onto the blockchain and not go through a third party.

Listen, Coinbase is a great company, Kraken’s a great company, Tether Circle, all great companies. But I’ve always believed that they’re, they’re not FDIC insured of banks. I’ve always believed that to go directly from your bank is the safest and soundest way from your bank account onto the blockchain. And SoFi has a pretty good product out there. And I, and listen, I, I give some props to SoFi. They’ve got a great CEO, former military, but respectfully, they’ve made a mistake. They are making you go from your FDIC assured account into their wallet. So therefore you’re trusting them with your crypto.

And I’ve always said and our view is no, no, no, no. You have any wallet you want. Take any self custodial wallet. Treat your wallet like you would treat your passwords, have a self custodial wallet. Connect your self custodial wallet to your bank. And that’s what we’ve always said, that we’re different and then move money on and off the blockchain. So we still want to launch that every day we have. You know, I think our customer service improves, our speed of transactions prove the ability to log, to sign up, not sign up, but to open an account improves.

We’re now down to opening business accounts in hours. Most banks take days and so we’ve really improved it. But the big thing is still to launch what we call next gen. And I can’t do that until we get a capital transaction done. So everyone please keep praying that we’ll complete some of the transactions we have is I got to replace the deal that the Federal Reserve Blew up for no reason. I don’t think they could. And they hate Mike Reagan. I don’t know why. Because you love me, John. Other people love me. The Fed hates me.

Yeah, call him out. Absolutely. Accountability. Well, that just means you’re over the target and Amen. And you will win. And we will cover you in the blood of Jesus in prayer, for sure. Maybe you could quickly just clarify a little bit about another interesting feature of Old Glory, and that’s Old Glory Pay. How does that work? What’s the benefit of that? Yeah, we’re actually doing a migration on that where we’re. Excuse me. That was our early blockchain solution. We always knew that we had to be able to transact business directly from customer to customer, customer and merchant, not go through the credit cards, not go through PayPal, not go through Venmo or Zelle, all controlled by big banks, all shared data with the government after J6, as we know.

So that was our early version of our own little blockchain. Oh, Glory Pay. It’s a separate app, but we’re actually migrating. In fact, I may be breaking news here. We’re actually migrating where now we’ll be in just one app. And so very soon, within weeks, you no longer have to close one app and open a different app, but Glory Pay will actually be in the same app. And I’m glad that you gave me a thumbs up on that. And I don’t always know the right answer. I actually thought early on it was better to have a second app.

My team member said, no ring. Have one app. And I kind of overruled them. I think I made a mistake because everyone has come back and said we wish it was in the same app. So look for a tile coming soon where it will say Old Glory Pay and you’ll be able to move money share. Don’t use PayPal, they don’t use Venmo, don’t use Zell, use Old Glory Pay. If you owe someone some money or if you want to give a gift or pay your babysitter, tell them to open up an Old Glory bank account and use Old Glory Pay.

So that, that is our kind of like, simple version of the blockchain, meaning it’s our closed loop processing solution that doesn’t ride on the rails of any third party. It’s just on our rails. But to get the people who don’t have a bank account at Old Glory bank, although everyone should, that truly is the. Is the blockchain. And that’s why we’re really excited about Next gen banking as well. And of course can’t ever stop bragging about ol Glory Protect. As a former military, my dad was military. My dad was on the sheriff’s department. Volunteer firefighter. If you bank with Old Glory bank and you’re a protector, law enforcement, firefighter, military, even guard, reserve, volunteer firefighter.

You bank with us, set up direct deposit and God forbid you die in the line of duty protecting us. People like you and I who believe in this country, John Rich and I show up at your house and give you $100,000 and just to help with you and your family with your needs. And so. And that’s free. Having an account is free. Old Glory Protect is free. And every other big bank talks about doing stuff for the military, but they don’t actually do anything. We actually do something. Yeah, that’s great. No, that’s a terrific initiative and outreach.

I, I fully support that. I know everybody would. And I do agree with your team members that having a seamless transition, a one stop shop of one app to go through, everything is a lot easier because then you have to go in and out. But that’s part of the growing pains when you’re making a, building a business, that’s just part of it and it’s trial and error and we learn and you improve and you’re always willing to humble yourself to improve, which is one of the many things that we appreciate about you. That’s two mistakes I made.

I should have had Old Glory pay integrating from the beginning. I should never have trusted the Fed to do the right thing thing and my D spec well again, live and learn and, and we move forward and we will march forward in victory and, and that’s the key. And thank you for all that you do for the clients and for the country at large through all our glory and all. Thank you. You’ve been a huge supporter from the start and I, I can’t thank you. And, and by the way, just so there’s, there’s like, there’s no, there’s, there’s no paid relationship here.

He is a customer and I’m, I’m a fan of John from the start. I think he needs a haircut, but otherwise I think he’s, I’m a big fan of him and if I had his hair, I wouldn’t cut it either by the way. That’s coming next week. But you know, we got to do what we can in the meantime. But no, thank you. I appreciate the kind words. And no, I’m not a paid spokesperson, not an endorsement it’s just a personal ethos I have about you and Old Glory and Angie, respectively. So as we close with the podcast, please do let everybody know where they can go to learn more about old Gloria.

Yeah, two things. One, it’s really easy to open an account oldglorybank.com and our address is email address. I’m sorry, our website is really easy oldglorybank.com and Old Glory, of course, is the love term for our flag. And something you said earlier is many people who bank with us actually believe what we believe. They believe in family, country, God, community, doing the right thing. But even if you don’t agree with us, we still will serve you with open arms because we don’t pick and choose winners. Unlike the big banks. We, we would never cancel someone who disagrees with us.

God forbid. You know, you’re a hateful person. Maybe you were you, you didn’t believe in God, didn’t believe in anyone but yourself. We still want you to bank with us because that’s what the Constitution says. And we may not agree with you, but we will. I know in the military we will, you know, die defending your rights to believe what we don’t believe. And I also say so now, is it easy to open account? You can do it. I’ve always said eight minutes, but it’s actually probably down two minutes. Old GloryBank.com But I keep saying eight minutes because I’ve always said it.

But you can always get to me. I’m an easy person to get to. And your customers reach out to me and I always respond to them. My real email is mikering old glorybank.com and I don’t think there’s another CEO on the planet who gives you the real email, but it’s mikeringlorybank.com and we will of course leave the thanks Mike. We’ll leave those links in the description per usual. And as you know I’m a founding member as I showed you earlier. And folks, we are now on X. So that’s a new development that happened over the weekend.

We will leave that thanks. We’ll leave that link in the description so that you can see all of the different articles and information in real time, which is rapid succession over there. And we really appreciate you Mike being here. Thank you for your service past, present, future. We look forward to having you on again soon as we go into the holiday season. I have a feeling there’ll be some exciting times ahead that that surprise even us. Thanks for being here. God bless you and we pray you have a great rest of your day. Thank you for having me.

God bless you all.
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