Summary
âž¡ The Dodd Frank Act of 2009 introduced a law that could lock people’s money in the money market, a situation known as “gating”. This happened when Lehman Brothers failed and people tried to withdraw their money, causing the money market to turn upside down. Now, with record amounts in the money market, if a similar situation occurs, people could be unable to access their money. This is a potential risk that many people are unaware of, and it could have significant impacts on those with large amounts in the money market, including businesses and individuals.
âž¡ The text discusses a bank failure in Oklahoma that hasn’t received much media attention. It suggests that this could lead to a larger banking crisis, especially with the end of a Federal Reserve program that provided liquidity to banks. The text also mentions a product called nanosoma that supposedly helps the body produce vitamin C and regulate other bodily functions. Lastly, it touches on the potential for a global financial system reset and the impact of commercial real estate problems on banks.
âž¡ The speaker discusses their experiences of being ridiculed for their views on market manipulation and corruption in banks, only to be proven correct later. They express their dedication to informing the public about these issues, despite the challenges. They also mention their belief in running an honest business and their commitment to continue their work, even though they’ve already achieved significant success. They end by discussing the ongoing changes in the world banking system.
âž¡ The BRICs (Brazil, Russia, India, China) are trying to establish their own financial system, separate from the West’s central banking system. They have a lot of resources, producing most of the world’s commodities, and are developing a new system that could challenge the dollar’s dominance. However, there are concerns about the involvement of the Bank for International Settlements (BIS) and the International Monetary Fund (IMF), suggesting that the new system might still be controlled by the same banking powers. The BRICs and other countries are heavily investing in commodities, especially precious metals, indicating that these will be important in the new system.
âž¡ The article discusses the potential shift towards Central Bank Digital Currencies (CBDCs) and the implications it could have on privacy and control. The author suggests that CBDCs could be used to track and trace transactions, potentially infringing on personal privacy. They also express concern that this shift could be forced upon people through a crisis event, such as a bank run. The author advises caution and preparedness for these potential changes.
âž¡ The text discusses the importance of smart financial management, suggesting that traditional methods may not always be the best. It emphasizes the need to understand and adapt to changing market conditions, rather than sticking to old ways. The text also promotes investing in gold and silver, and recommends a company, Miles Franklin, for purchasing these metals. The company promises excellent customer service and competitive prices, especially for those who mention “Sarah sent me.”
Transcript
Just a quick break from your programming so I can give you a little information about Masterpiece. They are the masters at removing toxins and heavy metals and aluminum and microplastics out of your bloodstream, out of your body. We are being bombarded with this crap from all over the place and we need to get it out of our bodies that you are more susceptible to every disease imaginable when that’s in your bloodstream. And I like Masterpiece. That’s the company I endorse. Why? Because they’re the only company out there that’s actually doing trials to prove to you that their product works.
It removes graphene oxide, it removes aluminum, it removes microplastics and all sorts of toxins. You can try yours today as well by going to sarawestal.com under shop or with the link below. Welcome to business Game changers. I’m Sarah Westall. I have Andy Schectman coming back to the program. We’re going to be talking, I’m telling you, this stuff is going down the bricks. Just had a summit so we are going to be talking about that. I think it’s the number one issue right now. I actually there’s two number one issues. Well, there’s three and I’m going to be doing, actually I’m going to be doing a conference presentation with Jim Fetzer on this.
But there’s three big issues I think and that’s the World Financial System, the control grid, which I did a 10 part series on mind control and fifth generation warfare. Then the third, which is maybe even the number one, is imminent danger. Right? I can’t not say that’s number one. That’s something that’ll just wipe us out. That always has to be number one. But beyond that, the two most important things for humanity is this control grid because if that gets put in place, we can’t fix anything. And this World Financial System, that’s why I’m focusing on it so much.
It’s really important. It’s going to affect every single one of us. And he has some reports coming back from what the BRICs are doing. But we’re also going to talk about the bail ins that just happened in a bank and what that means, how it ties back to the experiment that was going on in Greece, how it ties back to David Webb’s great taking the UCC legislation that they put in place in every state in the last 10 years and how it ties back to the 2008 collapse. This very important for everybody and people need to be on top of this just for your own protection.
And of course he’s going to talk about how you too could protect yourself with precious metals. Silver probably is the best investment because it’s the most suppressed and most people can afford some silver. Gold is great especially if you don’t want a wheelbarrow full of silver and you have a lot of money and want that to invest. But silver really is the kind of the best one because usually gold and silver is more just an insurance policy. It’s not typically the best investment. It just is a storage of wealth. Now it’s a great investment. We’re going to talk about that.
If you are interested in getting gold and silver from Miles Franklin go send them an email infoilesfranklin.com tell them that Sarah sent me and you will get access to their private price list that’s not published on their website but you need to tell them that Sarah sent me. They’ll give you the best service and prices in the country but with, without doing that you won’t get access to the private price list. So put Sarah sent me or the private price list they have for my listeners. So Sarah sent me info@miles franklin.com okay, here is my friend Andy Schectman.
Hi Andy, welcome back to the program. Sarah, it’s great to be back. Thanks for having me. The world’s getting crazy man. It, it really is spinning faster and faster. It is and we talked about a few things before we started on to try to create a focus here because there’s so much to talk about and what will listeners want to hear And I think we need to start first with bail ins and it’s all tied to the UCC changes that they made over the last like with George Webb the great taking that they’ve been you know at state by state changing these state laws and also ties back into the experiment that they did in Greece with the bail ins.
Can you talk about this because this is, this is all going Down. Yeah, and I think, I think you meant David Rogers Webb from the Great Taking. And it’s one of. What did I say? David Webb? You said George Webb. Oh, I’m sorry, I knew it was David. Sorry. David. We talked a lot at the Red Collex Boy. I’ve interviewed him. I don’t know why I had George. George Webb is an investigative journalist who’s really good. David, when you immerse yourself in, in information the way that you do, in the way that I do, it’s you, you, you.
Details to me are, you know, the irrevocable irrelevant part. It’s the big picture. But yeah, I do that all the time, believe me. Anyways, not to, not to correct you, but just when people want to look for it, it’s David Rogers Web. The Great taking. The great taking dot com. Obviously go to YouTube and, and if you haven’t seen the Great Taking or Reddit or go to YouTube and he actually narrates it. It’s about an hour long YouTube talking about what you’re talking about the changing of the universal commercial code, how we are now subordinate in pecking order, if you will, if things go bad to the custodian in various instances or various circumstances.
And it’s already stood up to case law during the great financial crisis. So everyone should watch that. It puts a whole new spin under the concept of ownership and the phrase counterparty risk. And people should watch my follow up interview with him because we detail it was really good at people understanding. And then also Julie Oak, she’s a representative in South Dakota that has been putting legislation forward with a whole group of legislators around the country to counteract that UCC stuff. People will learn a lot from that as well. Anyways, keep going. Yeah. And you know, Sarah, I think in a lot of these examples, right, that being no different, these things are done with forethought.
They don’t just pass these legislations because, oh, there was a problem, we need to address it. I think they’re passing these, these legislations that are really, I don’t want to go as smart as saying anti American, but they kind of are, they’re draconian. They’re, they’re, they’re in, in, they’re diabolical in the manner that people have no idea that they were passed. And they are anti American though, because the American spirit is for freedom and liberty and dignity and all these things. And this is the exact opposite of that. Well, it is, it is. Especially because people are being kept in the dark.
And that’s that’s really a good example of it. If people watch the great taking listen to your interview with him, they’ll be blown away. I mean, like actually truly frightened. Not a good thing to do on a Friday to start your weekend is to watch that because your weekend is going to be spent thinking, oh my God, what do I do? And but I don’t mean to be dramatic, but it is that serious. But. So let’s shift gears a little bit and talk about bank bail ins. And I want to set the stage before I tell you what happened on Friday because it’s very important.
So again, in the same vein that people have no idea what the hell’s going on. I live in a community with some successful business people who have no idea that bail ins were written into law, don’t even know what they are, then mostly they’ll say, you mean as opposed to a bailout? Yes, exactly. As opposed to a bailout where the taxpayer bailed out the banks before that’s now illegal. It is a bail in where the unsecured general creditors, that is the depositors who are last to be paid anything over the really ridiculous fdic limit of 250,000 per account.
Because again, the FDIC has 140ish billion in assets standing behind 18 trillion in deposits. It’s just a few cents on the dollar. But. So this is something people don’t know that anything over that amount is unsecured and you won’t get it back in high probability. So the reason, part of the reason people don’t know that this exists is it was written into law during, in 2009 in the Dodd Frank act at the same time. And I think it’s important to note that they wrote into law money market gating legislation. Gating as in penned in. And they did that.
And that’s even lesser known. And I think it could be even a bigger problem. And I want to get all of this in the proper context before we talk about what happened. And it wasn’t just in the Smith Mutt act. Federally, nationally, they went to state by state and got this changed, but keep going. Yeah. And it’s really important because when Lehman Brothers failed, they controlled a good part of the money market industry and people tried to pull their money out and it’s called breaking the buck, that the, the money market funds turned upside down and it could blow up the system.
Because a lot of the money that’s in money markets are institutional pension funds and, and you know, insurance companies and that kind of thing. And you know what’s happened lately with the chase for yield? There’s almost $7 trillion in the money market. It’s record amount. It’s, it’s. Everyone is in the money market because it’s better than being in a bank earning next to nothing or even buying a CD for one year from that bank with the, with, with at the same time being locked in for a year when you can get a money market at the same rate with daily liquidity.
And so you have record money in the money markets. Well, they said if that ever happened again, what happened to Lehman Brothers and tried to yank their money out, turning the whole mark money market upside down, breaking the buck that you’re penned, you’re locked, you’re gated, you can’t get out. You ride it down to the bottom. And I was talking to Dunnigan Kaiser in my weekly interview with him and he was saying he, that happened to him in 2009 and he still has not gotten all of his money back. And for whatever reason he never got it all back.
And so it’s not a guarantee. It’s still an investment. There’s still risk. So. And that’s one of the things you have all these people thinking they’re out of harm’s way in the money market. Money market legislation now is for gating if this happens. So I find that very interesting. In fact, maybe something, it’s kind of the black swan people don’t see coming. And I think it’s ironic that everyone has been penned into the, to the money markets. In fact, when I will get a distribution out of my company and if I get anything of any size at all that goes into my personal account, I’ll get a call from, I have an account with Truist bank down here that I use for transactions and whatnot bills.
And they’ll tell me, well you should move that into the money market right away. You’re getting way higher return and it’s daily liquidity. The banks are pushing everyone into the money markets and those that aren’t don’t have the money market capability. Those banks people are leaving those banks and going into the money market because you get a nicer rate of return with daily liquidity. So you got all this money in there and that’s a black swan. So that was in the Dodd Frank act, as was bank bail ins. Now if we go to Silicon Valley bank and Signature bank, these are banks that had hundreds of millions of dollars in uninsured deposits, including Oprah Winfrey and startups in the tech industry.
Yes, Silicon Valley Bank. I just interviewed the former CEO that built it to the big tech behemoth it was. They had all the big techs on all but a sizable amount of the big tech startups and early stage and later stage tech companies there. Right. That was their focus. It was a big deal. It took. It shook the whole tech industry anyway. And the majority of that money was uninsured. So when the FDIC came in and bailed it out. We’ve talked about this before, but the stage must be set for what just happened. And it’s ironic.
There was an inquiry with the House, and the senator from Oklahoma said, you know, madam Secretary, you just bailed out these banks and that’s illegal. The dad Frank act says you can never do that again. And she said, I know, Senator, but it was an uber majority decision between myself, the fomc, which is the Federal Reserve, the fdic, and the President. We. We determined this was too systemic. That and Oprah Winfrey and all these companies lose all their money. So you can’t let Oprah lose their money, of course. Well, yeah, so he says, all right, well, does that mean if a bank fails in Oklahoma, my constituents will be made whole? No, sir, that is not the case.
They will be bailed in as it would require that same uber majority vote. Okay. And the banks that have failed subsequently have all been gobbled up by other regional banks or a bank like JP Morgan. So no one has felt this. Now, the fact that this has happened 10 days ago, and I did an interview this morning, and I’ve talked to a lot of people up through today who still don’t know about it. I was on a live stream last week talking about this, and the guy’s like, I’m in Oklahoma and it’s nowhere. It’s not on anything.
It’s not where it should be. So they’re very quiet about it. Yet what they did in my mind, was the first bank bail in. I want to read something to you here just to make it easier. I’m going to read to you the article, and it says, Friday, the First national bank of Lindsay, Oklahoma was closed by the Office of the Comptroller of the Currency with the FDIC approval appointed as receiver. The OCC acted after identifying false and deceptive bank records and other information suggesting fraud that revealed depletion of the bank’s capital. The OCC also found that the bank was in unsafe or unsound condition to transact business and that the bank’s assets.
And here’s the first piece I want People to remember that the bank’s assets were less than its obligations to its creditors and others. Okay? So that’s an important piece. Its obligations and its obligations to its creditors and others were greater than its assets. All right, Keep that in mind as we move forward. The OCC is referring the matter to the United States Department of Justice, which has a wide variety of tools to hold individuals accountable for criminal acts and focuses on victims in all of its matters. Okay. To protect depositors, the FDIC has entered into a purchase and assumption agreement with first bank and Trust Company based in Duncan Oak, Oklahoma.
Here’s the second point I want people to keep in mind which will assume the insured deposits of the failed bank. All right? So this bank comes in, we’ll take the insured deposits and we already know that the assets are less than the obligations. Okay? And that goes on to say that the sole office of the First national bank of Lindsay will reopen as a branch of first bank and Trust during its normal business hours on Monday, October 21st. We’re recording this a few days later. All depositors of the closed bank will automatically become depositors of first bank and Trust Company and their insured deposits will continue to be covered by the fdic.
Customers are not required to change their banking relationship to maintain deposit insurance coverage. Now here’s the kicker for uninsured deposits. Now, there was 7 million in uninsured deposits. This is a small PO dunk bank in the middle of nowhere. This isn’t Silicon Valley bank with hundreds and hundreds and hundreds and hundreds of millions in uninsured deposits. Just 7 million for uninsured deposits. The FDIC has announced it will make 50% of those funds available to depositors starting Monday, October 21, with the possibility of increasing that amount as assets from the failed bank are sold. But we’ve already been told that the assets are far less than their obligations to depositors and others, creditors and others.
And, and when you are a depositor, you are an unsecured general creditor that is the last in line to be paid. So let’s just play this out in real terms. You have a hundred thousand, a million dollars in that bank. You own a business, you’re running a business and you have $1 million in operating capital. Or you are in contract to buy a new house for million and a half bucks. You’ve already paid some money down on it. You’re building your dream home. And this bank fails, okay, you get your 250, which is insured. You get half of the uninsured you have 750 that’s uninsured.
Half is 375. 375, and 250 is six and a quarter. You can kiss that other 375 goodbye. You may get it in over the next four years. Is the amount of time they have to pay that out. And it will be in the form of bank stock of the new bank, not in cash. And the minute people get that bang, they’re going to sell it, which will depress the stock price anyway. But the point of it is, is that you ain’t getting that. And if you do get anything back over the next four years, you’re lucky.
And the crazy thing about it is that there’s not a word being spoken anywhere. Why is it not talked about on. On every news channel front and center, that there’s a bail in that just happened and people don’t know about it? This is a failure of a bank in a bigger way than any of the others because the others were bailed out and everyone was made whole. Not here in little Podunk, Oklahoma. And it’s ironic that it was the senator from Oklahoma that was questioning Janet Yellen and asked her, will my constituents be made whole, Madam Secretary? No, sir.
She said, so I think this is a big deal. And this is how they drop crumbs, Sarah. They drop crumbs. And this is how they do a trial balloon. And this is only 7 million in uninsured deposits. It’ll get to a point where the uninsured deposits are too big for anyone to assume and they’re just bailed in. And that’s how you create a bank run. That’s how people wake up to what’s happened. And no one even knows that all the money that they think is safe right now in their money market account. If it goes down, you’re going down with a ship.
You have a noose tied around you as the ship is pulling you down. So unconventional times called for unconventional wisdom. But the part that pisses me off more than anything as an American is that where is the media? They’ll say, well, look, it’s. It’s here. I mean, there are a few stories here and there. And it’s funny, if you Google First national bank of Lindsay, Oklahoma, the first thing that pops up is not what just happened. I mean, you have to scroll down to find it. But they’ll say, it was the news report. It’s on the FDIC website.
It’s law. You should know these things. Did you know that our bodies stopped creating its own vitamin C millions of years ago. Unlike most animals on this planet, our body does not create our own vitamin C. We need to consume food to get what we need. The problem is our body still acts like we create our own vitamin C. But this is where the power of nanosoma comes in. It not only triggers your body to start creating its own vitamin C again, it also triggers your body to turn on all 48 nuclear receptors. This enables your body to start to regulate its vitamin D levels, your thyroid and so many other amazing things.
The testimonials from those who have been using this product is absolutely incredible. You can learn more buy with the link below@sarawessall.com under Shop. If you want to first see studies and testimonials that are quite amazing, sign up for their newsletter. You will be amazed. Again use the link below or go to sarah westall.com under shop to learn more or to buy or some customers save 10% well, I think, you know, I was just on Dave Gianna’s show talking about things and I said the number one issue really is the worldwide financial system reset for whoever goes into office.
If they even know what if Harris goes in? I don’t even think that disaster with understanding even what to do with that, at least based on who they have right now in their positions of power. But that being said, I think the election is keeping people from even talking about it and they don’t want this on the radar of people and because voters don’t understand it. And as soon as it gets into the voting mindset, it’ll scare people. They don’t understand it and they don’t want anybody talking about it. Well, and not only that. So if you go back to when Silicon Valley bank and Signature failed, it started to create big problems in the banking system.
That’s right. And the banking system is very over leveraged and under capitalized. So what did the Fed do? They came out with something called the btfp, the Bank Term Funding Program and that filled the system with liquidity. The market right there was just about to break the way it did in 2019 with the repo market crisis the way it did in 2020 when the market collapsed. Both cases similar to what it looked like when Silicon Valley bank failed. It was a massive contraction of credit. And so the Fed comes in and gives all that money in the form of loans.
Well guess what Dave, those loans are all due to be paid back and the program is over and you go back to tough liquidity in the in the market. And that is November 6, the day after the election. So you want to talk about a rug pull. If they wanted to pull the rug on the entire system, I mean the banking system. Yeah. I mean you could argue they could pretty easily do it. There are going to be a lot of banks that are in trouble that are going to be in big trouble as commercial real estate problems get worse.
Interest rates on, on. It’s funny, you know, they lowered the rates short term. What happens to the ten year, almost to the day that they lowered the rates 50 basis points on the short term, the federal funds rate, the 10 year went up 60 basis points almost every day since that day. In other words, they lower the front end, but the back end goes higher because the world says I’m not taking your, your treasuries for 10 year duration with these low rates. If you’re going to continue to inflate, you’re 60% away from your target of 2% inflation and inflation’s only getting worse.
And now you pivot when stocks are at all time highs, when, when real estate’s at, at all time highs and you know you’re going to pivot now and lower rates. You, you haven’t signaled a victory of inflation. It’s a white flag you’re waving. So the, the bond traders say I’m not holding those Treasuries are going to inflate them away and, and so they’re selling them, pushing rates higher on the back. And this is exactly what the Fed didn’t want. But the 10 year treasury is what credit cards are based off of, what the mortgages are based off of, what everything is based off.
And when you talk about commercial real estate that has to reset these loans at a higher interest rate as the back end of the market keeps going higher, mortgages back up to 7%, you’re talking massive bank problems, massive bank failures as they collapse under the weight of a slowing economy and all of these small businesses getting eviscerated. Well, and I think people can learn about what this means to us by looking at Greece because like I said, Greece was an experiment. This bail in experiment in Greece, it was horrifying for the people. Remember that back in 2009, anything over a hundred thousand I think in euro you didn’t get back.
You can only get like $75 a day out of the ATMs, which is another thing. People were in lines and lines trying to get money. Banks, businesses are failing. It was terrible. Yeah, people should have, you know, whatever amount you’re able to have, you know, up To, I don’t know, 10 grand or more in small bills, tens and twenties and leave it there, don’t use it, blow it all the time. You get an excuse to do it. Just leave it there for if you need it. Fives, tens and twenties and junk. Silver. As crazy as it sounds, in that environment, cash will be king at first.
Liquidity. That’s right. Cash will be king at first. Yeah. Someone was telling me that dollar bills in North Carolina where they face the carnage were worth more than a dollar bill because, you know, credit card machines weren’t working. Yep. And you know, no one had money to break, give you change. And I mean when things slow down and stop working and you know, we like to think we’re in a part of the world where that doesn’t happen. Ask the folks in North Carolina about that, you know, and heart goes out to them. But being prepared is something people laugh at.
But when you see the way things keep unfolding and shocking in so on so many levels, we have yet to really be shocked on a monetary level. And I think that’s when you look at what could happen, I think you’re. You’re going to see bank. More bank failures. This is just the first. And the fact that it was bailed in and wasn’t talked about is very, I find it to be eerie, like, yep, that’s. Here we go. This is how they do it. Well, I think the election has something to do with it. But I got to tell you, when I first started human traffic, talking about human trafficking back in 2016 and all this stuff and it was in the.
The Q Great Awakening book. Even though I didn’t follow Q, millions of copies followed with read that book with James Rothstein Detect. People were emailing me telling me I was full of crap, you know, all this stuff. But now look at it, right? Same thing with the Burisma. I had the Burisma board member I was. That all came out. Then we had, you know, the laptop where we all got deleted for being on the. That all came out and then I just did, you know, the 10 part series of the Mind Control and Fifth Generation Warfare.
RFK Jr. Just interviewed Dr. Robert Epstein and they labeled the episode Mind control and the social Media. And he was part of my 10, you know, part series. I’m telling you, all of these things we’re talking about is turning out to be true. And each step of the way I was laughed at, told I was a joke and each step of the way I’ve been proven to be correct. And this is going to be no different. Well, I’ve always been proud to be on your show. I’ve always thought you were courageous and smart and well researched and I’ve never had a problem with anything that you’ve said.
You back it up with, with evidence and fact and yeah, in everything there’s some supposition and everything I talk about too, but it’s a similar road for me. I would, I would talk about JP Morgan manipulating the market and show, show graphs of the AM and the PM fix and look at their short position and all of this stuff. And I, you know, was kind of laughed at by Doug Casey too in, in a conference. And then what happens? You know, JP Morgan pays a 920 million dollar fine to the Justice Department for manipulating the metals market.
The largest fine that the Justice Department had ever issued at that point. Only, you know, now that, now that you get the banks involved, you know, well, they are a bank, but all the banks are just paying these massive fines and they continue to work in areas that, you know, you would say these things that the banks are crooked and they’re suppressing prices and they’re, they’re breaking laws and you know, you just pay a $3 billion fine to the Justice Department for money laundering if you’re TD bank or billions of dollars in fines for everything from Libor rigging to precious metals rigging to you know, all sorts of, of, of nefarious acts of these, these banks and they pay fines and it goes by the wayside.
But saying these things a few years ago that markets were manipulated and controlled by, by the commercial banks, you’re laughed at. But you know, I guess he or she who laughs last laughs best. But the worst part about it is all of these things that you talk about and that I talk about, we’re talking to such a small subsection of the country and if you look at the way that, you know, the legacy media has really destroyed all journalistic integrity. You know, you just, you, you don’t. People are just going to be blindsided by a lot of this stuff.
They’re going to be run over by even people who are well read. They’re just not reading the right stuff. They’re not listening to the right people like yourself. And so I for one admire and applaud your, as my sixth grade teacher said, your stick to itiveness and your tenacity, you know, and, and your, your beliefs. Well, well that’s what’s founded upon. Well, and that’s what, that’s what we’re Hoping if we just stick to it. You know, my husband always is my counselor behind the scenes. Sarah, just stay with it. You’re right. You’re entre. It’s hard. Yeah.
I am not. Yeah, this has been a hard road, but we have to keep sticking because too many people are going to be hurt by this if they are not informed. And that’s why we’re doing it. And that’s why I keep talking to you, because I know that you have your finger on the pulse and you’re not just doing it to sell gold or silver. Oh, that’s a nice byproduct, but that is not what your goal is. Overall, it gets to a point where you almost see the hand of God and you’re realizing, yeah, I’m in a field where I can make money at this.
But now you start to realize what’s really going on and that what’s really going on becomes more important than the byproduct. And I love you for saying that, honestly. I mean, I truly do, because I struggle with that perception sometimes. I mean, nothing’s changed my life more than YouTube ever. And you’re right. I mean, I think there’s this. This feeling of, I don’t even know. I guess we’re also cynical that running a business that you can be proud of, one that you can leave to your children. My son works for me now, and I started this with my dad 35 years ago when it wasn’t easy.
In a one room office the size of a closet in St. Louis Park. You know where that is, in a suburb of Minneapolis, in a room the size of a closet, before the Internet, on a loan. You know, my dad’s middle name is Miles. And his best friend who lent us 60 grand, his middle name is Franklin. We were the least likely group to ever get to where we are. And I’ve worked my butt off to get here. And then I get to a point where I’m doing a lot of public speaking, and then I discover YouTube.
And it’s changed my life in a massive way. So, yes, I’m an entrepreneur. I’m a business owner. I want my business to do well, but not at the expense of putting myself out there the way that I do, only to destroy my family name. That’s the last thing I would ever want to do. I work really hard, and I guess the point of it is, is that I ask myself that, like, why are you doing this? You know? And as I do 20 of these a week almost, and I do it because of what you just said, yes, I am running a business.
But running a business, building something you’re very proud of and doing right by, you know, your fellow man. Man is, Is not. Doesn’t have to be mutually exclusive of one another. And trying to, to do something that you’re proud of and run an honest business that helps people is. Is a very rewarding thing. And I have found. Maybe I like you. Maybe we’re both stupid or just courageous. Maybe a combination. But anyway, I don’t have the nerve to do so. But I do wonder sometimes, and I do feel like I’m supposed to be doing this and that.
Almost when you say it, it’s like, oh, you think you’re that special? No, I don’t. I just. I try to rationalize it, like, why do I do this all the time? You know, my company’s done a lot of business. We’ve done over 10 billion in sales. And I’ve done this for 35 years. I mean, I’ve. I’ve worked a career already. You don’t need to do it anymore. But you don’t need this. We don’t need. No, but I enjoy it and I feel I’m supposed to be doing it. And that’s the honest. Most honest thing I can tell you.
And the crazy thing is, is that so much of what I said over the last four years since I’ve been talking with you, no one was talking about. Now everyone’s talking about people thought I was crazy. And, you know, I guess. I guess maybe that’s just part of being open to seeing things with an open mind and then. And. And being logical at the same time and having the nerve to talk about it. That’s a commonality between you and I. You know, the stuff you talk about as well, you know, it’s. It’s stuff that you won’t hear unless you’re.
Unless you’re searching it. Then. I don’t know. You’ve been proven right. I’ve been proven right. And I think, well, for that matter, people ought to continue to listen because, you know, if nothing else, it’s coming from the right place in you. I know that. And for me, 100 it is. So, you know, you try to do the right thing and, and let the chips fall where they may. That’s right. And hopefully it. People can keep things from happening and they can be informed and they can protect themselves. You can’t get out of the way of what you don’t see coming.
And that’s the point. That’s right. And we have a lot that’s coming. And you. The brics just had a, their last summit summit, right. This was just a couple of days ago. And more countries are joining them. And I don’t, you know, there’s a big fight with. I’ve been trying to figure out the world Central, the world banking system which is being reset. I’m trying to understand the background of that. Right. I’m learning a lot and I’m sharing a lot with you and others. What I learned and you’re sharing with me. And we’re learning a lot because it’s, it’s all backroom deals and things too.
Right. But there is a fight, obviously and there’s also partnerships and we don’t quite understand some of this. And you got to look at, see actions to see it. But the central bankers are saying that the bricks don’t do not have the collateral to back the world financial system. The bricks is saying that, you know, they’re trying to get out from underneath the central bankers. I don’t know if the central bankers have the collateral or not. Some people say the bricks are. And they’re not admitting to it. So what do you think about all that and what do you.
I think the west, when you, when you call collateral treasuries from an insolvent government, a broke government, is poor collateral. What the west has is a functioning bond market. But I think you can question the value when you look at the countries that are the BRICs. They’re the ones that have. They produce the majority of all of the world’s commodities. They mine 85% of all of the world’s rare earths. They refine 100%. They produce the majority of the world’s wheat, the majority of the world’s precious metals. You know, they have relationships in the belt Road with all of these countries, 150 plus, most of which are massively resource rich and underdeveloped.
You look at the countries in Africa, the minerals and the metals and you know, the abundance of natural resources that are coming into this fold that are less developed than they might want to be and have the resources to develop their country. China and others come in and build the infrastructure. I don’t buy that argument as much that they don’t have the collateral. They may not have the network, the system setup that I do agree with, the entire intricate system that the dollar dominates. And that is true. But to underestimate the BRICs and their growing union I think is a very big mistake.
I have been wrestling with something lately that I Have a hard time wrapping my head around but you know, you look at the new settlement token that has, according to Delma Rousseff, the former president of Brazil and the head of the BRICS New Development bank has been agreed upon in principle, 40% gold backed traded over Project Enbridge. Now this is the part I’m having a hard time with is that Project Enbridge was developed by China, Hong Kong, Thailand, uae, United Emirates and Saudi Arabia just became the fifth full participant in it. US dollars are not compatible with it, with Enbridge and, but you have the BIS innovation hub standing behind Enbridge which is a western entity you have on the west, the imf, you know they’re talking about here in the States, Project Cedar and Project Agora, these are Western led CBD systems that could integrate seamlessly with Enbridge and they make a big point talking about these systems will integrate.
And the part that I have a hard time with is the BIS in all of this which are the bankers, the central bankers and it’s like they have their fingers in everything. Now what the bricks more or less represent to me is a breaking of the hegemony where it’s more of a multipolar world based on cooperation. They’ve, they’ve talked about building a new precious metals exchange, a grain exchange and they focus on the fact that prices are set in the west and set with leverage and naked paper trades by banks that are full of crap that are distorting asset prices.
And I think that’s real. But where I’m coming back to is why is the BIS involved here? And in reading some of the statements that came out of the meeting they talk about their relationship with the BIS and with the IMF and being a inclusive group. 47 countries have expressed interest in joining, 26 formally applying. But they, they set out this, this, this. They published a report that you can read and it talks about, they’re leaning, it just seems like they’re almost leading into a situation where, how can I even say this? It’s like the, it’s like that the bankers understand that they can’t have a one world currency, but maybe they can have a one world system, A control structure.
System, yeah, structure that they control from above. And when you have the BIS and the IMF in all of these CBDC projects, including really what the BRICs say is going to be the rails of their new system, it makes me wonder. Well it also explains why they’re front running the system by buying the gold and they’re buying, we know that they’re playing both sides on this because I think that means that the dollars are as the world reserve are coming to an end. And this is why I like the phrase little by little, then all at once logarithmic decay because little by little it is happening.
And I would argue that’s what the BRICs represent. But this is not in my mind as much the BRICS against the west as much as it is maybe two systems underneath the IMF and BIS umbrella where you have two digital systems that are communicating with one another, that the bankers are still up above. That is something I’m having a hard time shaking these days because the BRICS or the BIS is behind Enbridge, the innovation hub. Now there are some saying that China is pushing away from that and maybe they are, I don’t know. But when you look at the doctrine that they put out, I mean the World Health Organization is in there, they talk about vaccinations, they talk about, right, you know, they talk about the United nations living under the United Nations Charter, they talk about the IMF and the bis.
I mean it’s just like this, the same old bankers just putting on a different suit. So what it says to me is that yeah, you don’t have one currency but you have one system. When I was new in this industry Sarah, 30 plus years ago, the trilateralists and all this, you know, they would talk about a one world currency. This is not going to happen. But a one world dominated digital system where the leaders on top are pulling the strings of something. I don’t know, just seems like we’re heading in that direction. Not sure, but it doesn’t matter.
It can be, it can be an illusion, it’s one and then they just convert it to the country’s currency and whatever but it’s all tied back and it’s just an illusion per country that it’s separate when it’s really tied anyway ways. Yes, that’s really it. And trying to figure out from there what does all of that mean. I mean we come to then a, you know, to that Orwellian 1984 digital system that’s controlled from above. So for me doing all you can to you know, have freedom from that system in a legal context, in an asset that has only been going higher is, you know, it’s, it speaks volumes.
It’s worth more than the dollar value. And I think that’s really the point that I would take away from all of this is that what is the one or the one asset class that all of these entities are buying it’s commodities, precious metals, base metals, you name it. You know the Chinese bought the London Metals Exchange, that’s the base metals. You know the whole premise of the Belt Road is to bring in countries that are under developed and develop and pull out their minerals and their metals and their commodities. Bring all of this to the market.
All, all, all of what I see is a situation where the commodities that all these countries are accumulating are worth more than the currency used to pay for it. Like for example in India where they’ve been buying more silver than anyone in the world and they bought I don’t know, 8,900 million ounces in the last three years. Silver’s at all time highs against the Indian rupee. And we’re still 40% away in our overvalued unjustified value of our dollar is creating a market where it’s 40% from its all time high. It’s at all time highs in rupee in South African rand, almost at all time highs in the Canadian dollar and the Euro.
So isn’t that just mean it’s a good buy right now? Yeah, way undervalued. And usually gold and silver are not investment material. They’re at their insurance and, and just a store of wealth but right now they’re actually in a good investment. Yeah, well silver especially and yes, and gold reached all time highs and all these other currencies before it broke out in dollars. It’s following a similar pattern. And now you have Russia who just came out and said we’re going to add it to our state savings or state stockpile. No one’s ever said that before. Governments don’t do this.
They, they do with gold but now they’re buying silver continuously. China has gone from a net exporter to a net importer and they’re flying all around the world buying unrefined silver directly from the miners in Dora and concentrate form and disintermediating the markets and the banks and sending it right back to China to be refined. They’re already the second largest producer of silver in the world. And depending upon who you ask, they’ll tell you they’re the first. All of these countries are massively accumulating commodities because that’s what this new system will be all about. But that doesn’t mean we’re going to be free from.
Yeah, we’re not going to be free from the tyranny of the bankers pulling the strings. It’s just going to be a different system. And well, I think what scares me is they’re doing that to protect their sovereignty, to have power. And we’re not doing any of that. That bothers. Selling it all. That’s. We’re doing the opposite of it. Yes. And that bothers me. So that means that our independence and our freedom is not being secured. And the arrogance of the people. We’ve been so dominant for so long, they’ve become complacent and arrogant while these people have not been.
It’s. So how do you issue a cbdc? You pen everyone into the, into the money markets. You have them all think they’re safe in banks. The David Rogers Web great taking and insecurities and IRAs and boom. That’s right. And that’s. It’s very serious what does happen. And that’s when Lael Brainard comes in on a white horse. Have no fear. Lael Brainard is here and she’s a modern monetary theorist. She worked at the Fed, she worked at the treasury, she developed the CBDC at MIT or at the Boston Fed. With mit. This is what she wants. She’s now number two economic advisor to Biden and just.
Sarah, sign on the dotted line. Take the CBDC and you too will be made whole. That’s right. I know your bank is gone and your insurance companies are gone and all this craziness happened, but will make you whole. Just take the cbdc. There has to be an event. There’s two ways to roll it out. They can do it like the Chinese who rolled it out with incentives alongside their normal yuan. You know, here, take the digital yuan and maybe we’ll give you an extra 20% kicker or whatever, an incentive to do it peacefully or you create an event that makes people want to take it.
And one, one or the other, it’s coming. CBDCs are coming. If you look at the gross domestic product of the world, all of it combined, and the countries that comprise 99% of it, they all have a CBDC. But I want one thing I want to say is CBDC itself a central bank. Digital currency is not what makes it dangerous. It’s the tracking and tracing behind it. Of course, digital currency is fine. So we got to be careful. And as soon as we start, legislators just go off CBDC and then you go after that and then you ignore the track and trace.
They’ll change the name and just do it with the track and trace ability with a different name and then we’re all that stupid. By its first word, central bank, Central. It is centrally controlled. A digital currency that. That isn’t controlled is different. Than what is controlled. And it just, it means that this, if I give this to you for whatever, no one knows I just gave you a dollar. Nobody and except me and you. But you do that now I owe you a buck and I give it to you now it’s bang, it’s on the ledger.
And that’s just one example. But you know, there, Nomi Prince has done some, some good interviews on this and she, she showed a, through the Freedom of Information Act a memorandum that was never meant for public consumption where the IRS in essence reviewed the CBDC and came back and said, you know, you could use this even though we wouldn’t to, you know, to penalize people and, or vaccine mandates. You know, you’re, you’re at a grocery store. That’s the track for authorities, all of that stuff. So that’s going. Yeah. Going beyond monetary into everything. Yeah, right. And, and there is no privacy at that point.
And you can see why governments, I mean would want to do it. The central bankers want to do it because they can enact monetary and fiscal policy right from the Fed where they don’t have the ability to do fiscal policy, only monetary policy, which basically means playing around with interest rates. They want to control who, who manufactures what and when and control the whole economy based on the monetary policy coming from the central bankers. They talked about it starting in 2018. You know Jackson holy. I had Harley Schlinger on there saying they wanted to go around government budgets, do the budgets themselves based on carbon credits.
This would put it on steroids. It wouldn’t just have to be carbon credits. It could be on so many other factors as well. Yeah, well that’s the point. And it’s coming. That’s the bummer of it all. I’ve always felt you have to create an event to make people want to take it. Now when you realize the banks are wickedly over capitalized or over leveraged and under capitalized only to get worse as commercial real estate gets worse. When you realize how systemically tied to the system they are. When everyone is pending the money markets that can be dragged down.
When the DOT or the Basel 3 legislation went into effect October 1st for the banks, now they have to. They’ve had zero percent reserve requirement since COVID Now they have a four and a half percent. So a well liquefied bank has four and a half cents on the dollar. So you know, you’re looking at a situation and then what’s really interesting is as they’ve tried to lower interest rates, the 10 year has gone Straight up. But what do the banks hold predominantly? Oh yeah, tenure. So it starts to hurt their balance sheet worse as rates go higher.
Right back to where we were, which created the bank problems a year ago. So we’re in a, in a bad situation. And then the bank term funding program expires the 26th. So these are the kind of things where you start to wonder, are they going to pull the rug? Are these things intended? Why would they tell all the banks over the last decade, interest rates are staying low forever. Load up on, on treasure, on 10 year treasuries as an asset, it’ll be fine. And then bang, jack up interest rates, 500 basis points in the span of a year.
Knowing what it would do to the banking system. Is it too stupid to be stupid? And now they do this again. They lower the short end. Okay, it’s safe to go back in the water. And what happens? The back end goes higher again, meaning people are selling bonds and rates are going higher. They’re inversely correlated, putting the banks in even worse positions. So this is a situation where we have not seen the end of it. But I have always felt that something has to happen in order for there to be acceptance. And that event probably centers around a bank run because all it would take is one big bank.
Let’s just say US bank in Minnesota, which is a regional bank, it is not a commercial bank, but it’s big. I mean, the football stadium downtown Minneapolis, the vikings play is U.S. bank Stadium. It’s a massive bank. And their balance sheet’s really not that great. If you look at it. They have a lot in the form of derivatives and, and I’m sure awful lot and uninsured deposits. And God forbid that bank collapsed and everyone was bailed in if, if everyone woke up. Now this is a bank that’s big enough right now. Yeah, that’s what will happen.
Unless this is not a little bank in, in rural Oklahoma, there’s a big bank, the Viking Stadium is named after it. What happens immediately, if you’re not with US bank, you would say to your husband, get in the car now, go to, go to our bank, Wells Fargo and get our money now. Get it out now. And how fast does that happen across the country and bang, bang, bang, bang. It’s a chain reaction. Now you have a special announcement from the president that we are going to issue a CBDC for everyone who’s lost their money. Just go to this website, enter your stuff and you will be made whole so you can feed your family.
Could that happen? Sure. Why not. That’s how you get people to willingly take something that otherwise they would be not really excited to get. And then you, you back yourself up and say well that’s stupid. Really? Is it? Well, how about the change to the universal, you know, the UCC universal commercial code and the great taking. How about bank bail in legislation and gating legislation? Aren’t those stupid too? And that could never happen. Right, okay. Well the point of it is they were written into law and, and they don’t do things just for kicks at that level.
And, and we just saw the first one in Oklahoma. Only problem is you got to dig deeper, listen to people like me to find it. This is your warning. I mean it’s time to be a contrarian. It’s time to be unconventional. Better than being a victim. That’s better than being run over what you never saw coming. And there’s no harm in it. It’s insurance. If you do it, you’re not going to be hurt. That’s the point. You know, I mean either way. Yeah, I mean, and look, gold, silver’s up 40% for the year. It’s outpaced just about everything gold is, has outpaced the S P 500 with dividends, reinvested for 25 years and doubled the performance of the 10 year treasury over that same period of time.
And all it does is get a bad rap. It’s outperformed just about everything quietly, but it’s not sexy and fast moving. So yeah, I mean it, it’s time I think to look at gold differently and silver, the rest of the world is for sure. Well, doing push ups when people aren’t looking isn’t sexy either. You want to action, but that’s what makes an athlete better. It’s the stuff that you work on when people aren’t paying attention. And it’s the same with this. How do you secure your financials, your family? It’s doing things that maybe aren’t sexy, but it’s important to do.
Yeah, well, I mean going to school isn’t all that much fun. But no basic stuff. Yeah, but people can tell and you know what is sexy? People can tell that that dude or that girl, they’ve been doing push ups. So no one’s been looking and you can see and they can say that. Yeah, you know, geez, you were really smart. How the hell did you know to get out of the way of this? Well, I do my due diligence and I spend as much effort, even a portion of the effort that you spend working to make your money.
If you spent that half of that amount or a quarter of that amount or a tenth of that amount, trying to figure out how to preserve it and to grow it rather than relinquishing it to traditional money manager. And I don’t speak poorly about them as a group, but in general, many of them focus more and more about less and less till they know everything about nothing. They’re looking through a pinhole. They’re not looking at the, at the world. They’re not looking at the world Sarah Westall is looking at or the world I’m looking at. They’re looking at the world that always was.
And they, they suffer from normalcy and recency bias. And if people are managing your money that don’t have even similar ideological viewpoints about this world than you do, then ask yourself, what the hell are they managing your money for? Because if you’re watching Sarah, you understand the world is a very different place than the one we grew up in and the ramifications and the outcomes are potentially more severe. So if you’re not aligned ideologically but you, you think, well, this person’s done real well. Understand that since 1982, interest rates have gone straight down like this. And in an interest rate falling environment since 82, at a time when people weren’t, you know, this was the greatest prosperity this country really had seen and, and people, this was a safe, secure country and all of the issues we’re dealing with now weren’t.
But as rates have fallen for the better part of, you know, 40 plus years, that means stocks, bonds and real estate have gone higher in response to that. And so you look like a genius in traditional money management, but how do you do when things start to invert? And if the only thing you understand is how to operate in one market and don’t even acknowledge the possibility that things are changing in a material way, then you shouldn’t be managing my money is how I look at it. I agree. So, yeah, take a little bit of accountability and, and maybe take things into your own hand or find a money manager that looks at the world the same way you do.
That’s important right now. And I think that’s a mistake people are making. Okay, well, where do they go to get some gold and silver? Silver. If you don’t have very much money, getting a little bit of silver will probably go, you know, go far further for you and they can still afford that. Where can they go to get that? I know what’s really go to our website, but they’ll get Better prices by requesting our price list that we don’t publish. And it’s important that they put. Sarah sent me. We will make sure your clients are treated exquisitely.
Well, we’ve never had a customer complaint and they’d send an email to infomilesfranklin.com info infoilesfranklin.com I don’t care what size the order. We’ll make sure your people get red carpet and make sure they say Sarah sent me. Our prices on the list we will send you are substantially lower than what is found on our website. And we’ll be amongst the best in North America. And any questions you have, put them on there. If you want to be contacted, put your phone number down. If you send an email and half a day has gone by or a day you don’t see anything, make sure you check your spam.
A lot of times emails that come from any corporate server get flagged and go into spam or clutter or whatnot. We’re very good about following up. Infomilesfranklin.com Sarah sent me. And any questions you have, no obligation, just the price list, precious metals, IRAs, whatever it is, put it in there and we’ll contact you right away. And I gotta tell you, I haven’t had a single complaint, only positive. And that’s hard. That’s hard. So that’s very good. I applaud you for that. It doesn’t mean you don’t screw up. We do. I mean, don’t tell my wife, but for it not to fill me is pretty.
Is pretty good. Well, you know, I do screw up, but I won’t admit that in front of my wife. So don’t tell her I said that. But I. She knows you screw up. Probably more than you want to know. Yeah, well, that’s all right. Burst my bubble. But it. We. We make it right. If we do and everyone screws up. I think you’re defined as a person by how you. That’s right. Deal with it and resolve it. And that’s right. And we’ve never had a customer complaint ever material in 35 years. It’s the I. It blows my mind, actually.
You know, raising three kids, you know how people can get on people’s nerves. Well, fortunately, somehow we’ve been able to. To get by without making anyone mad enough to file a formal complaint. And we’re very proud of that. But I, like I said at the onset, Sarah, I’m very proud to work with someone who is courageous as you are and well spoken and well Researched, I’m happy to come on anytime and as often as you’d have me, even if it’s every few weeks, which I think is good because truthfully, I think that the real craziness happens directly after the election.
And when you talk about getting precious metals, we are a few weeks away from the time where the mints run out of product for the rest of the year. Traditionally they will stop somewhere in early November and they’ll say here’s the last allocation you’re getting. We’ll send it out to you so you get it hopefully at the end of November and then that’s it. There’ll be Nothing until the first week or second week in January when the 2025s come out. And the reason they say there’s no bull market like a metals bull market is that the higher the price goes or the crazier the world gets and only strengthens people’s resolve.
They don’t want to go back into dollars even at a profit. You know, silver’s up 40%. I don’t have people calling me saying can I sell my silver back to you and capture that profit. You do that with stocks and options and futures, not so much with physical. So do understand that ultimately I think if things were to get crazy between the election, God forbid, and first week in January where I think things are really going to get nuts, getting physical product could be very challenging. So especially when you get into December, you got the holidays and mailing and everything is already nuts.
So those that are wanting to do something, we’ve seen a little bit of a pullback last couple of days. After a massive run higher, it’s a good time to do it. When you talk about silver, the money supplies up 14 fold since 1980 and it’s trading today at about a 40 discount to its all time high. So good value in silver and never been a more important time to own it. So yeah, Sarah sent me info@miles franklin.com, price list, phone number, questions, whatever you got, we’ll, we’ll be happy to help. Thank you. Andy. Thank you so much for coming.
We’ll have you back in a few weeks. I look forward to it. Sarah, you stay well, hope to talk to you soon.
[tr:tra].
Author
