Cracks In The Banking System Emerge

Welcome to RIGGED [against you], the podcast that helps you RIG the wealth game back in your favor. I’m Terry Sacka AAMS of Cornerstone Asset Metals.

 

I saw a wave, a dark wave, come over our nation. And it’s not just the election, of course, but this program is going to be all in the name RIGGED because when I, and we formed RIGGED, it was because of the financial system, but RIGGED is now becoming common in America. And it’s all RIGGED [against you].

This is RIGGED. I’m Terry Sacka.

 

Terry Sacka AAMS (00:26):
Today we’re gonna discuss the cracks in the baking system that are emerging. This is just how Lehman Brothers started in 2008 and all the other crashes, they are signals, we would call ’em canary in the coal mine kind of scenario. But this is very real and they’re starting to, um, show, and this is just the beginning. I contend we are in so much debt. Every bank just about is insolvent. And you even have the FDIC discussing on video about bank bail ins, which mean they take your money and give you shares of the bank. Many people believe, well, I got 250,000 guarantee. I’m okay. That’s not exactly true, and we’ll get into that a little bit on this today. But, uh, this is a big deal because it’s kind of like the domino effect of the banking system.

Terry Sacka AAMS (01:24):
And it, it, there’s more to it than just this, but I’m gonna list just a, a handful of them. But there has been even crypto exchanges that have gone down. I’m not even talking about ftx, but there are some big ones. But in just September of 2021, silver Gate Bank specialize in digital currency, was performing pretty good. Uh, in fact that bank, you know, reported record breaking growth. Uh, they had deposits loans all through 2020. Um, a lot of it was, you know, for demand for its services and clients in the crypto industry. Uh, but still it, it was still just a bank. But on Wednesday, uh, this year, March 8th, SilverGate Capital announced it ended operations and liquidated its Silver Gate Bank. This announcement set at stock price plummeting following months long downward spiral for Silver Gate Bank. They just had over exposure to cryptos.

Terry Sacka AAMS (02:21):
But don’t get caught up in the fact that this is only related to crypto. This is just the beginning and it, it gets into the tone of, of leverage. Every bank is leveraged. When you deposit a dollar, they loan out up to $26 and a lot of ’em have derivatives involved, especially the top five banks. The top five banks have somewhere in the area for about 50 to 60 trillion in derivatives. And that’s a big deal because that’s part of what’s coming because we do have about what, 2.5 quadrillion in derivative and debt worldwide. And I contend that if they push this war with Russia, uh, to the extreme, if, if they don’t slow down and back off and we continue to escalate, there is a potential. This is going to get outta control to the point where a lot of these derivatives could get triggered. And once they get called, who has one quadrillion 999 trillion? Who has the money for that? Nobody does.

Terry Sacka AAMS (03:27):
So right on the heels of silver gay bank going down, Silicon Valley Bank has now informed their clients that wire transfers could be delayed. The bank support phone lines became <laugh> inaccessible and, uh, many don’t remember, but there is something called bank holiday. They’ll just shut and lock the doors, folks. So you gotta keep this in mind. This is a bigger picture than what people realize. In addition, numerous customers are claiming, uh, that they’re having difficulty logging into the company’s website and to view their account and information and make transfers and good luck getting something outta the atm. If you do not have gold and silver outside of the system, uh, if you do not have currency in a fireproof box at home, you’re probably gonna regret that because they’ll just shut it off. And you just have to ask these people that are experiencing it right now, and you just have to look at what happened, what they did in Canada to the truckers when they just went into their banks and took their money.

Terry Sacka AAMS (04:28):
You’re not safe. And this is just the beginning. So Silicon Valley Bank competitors like JP Morgan, they tried to convince, you know, some of the account holders there at SVB Bank to move their funds over to JP Morgan. Well, Friday morning trading here, uh, which is today, Silicon Valley bank stocks have halted at a classic run on the bank, unfolds the entire bank stock index. Now in the market system as overnight deposits have been walking out of the door, people are starting to catch on. I better get my money out of the bank. I know people with hundreds and hundreds of thousands in a savings account in the bank, and you’re going to regret it. They’re rolling into higher rate options. They’re squeezing bank profit margins. And one of these prevailing themes that’s pretty interesting, the Fed has been trapped via its mandate to fight inflation and maintain high employment because they’ve gone in and jacked up the rates so fast. It’s almost unprinted unprecedented because the rate hikes have never accelerated so high in such a short duration. Critics of this monetary policy were saying that the Fed will keep hiking until they break something. They’re not telling you about the massive layoffs that are already taking place. These interest rates are high, too high, and especially with real estate prices as high as they are, this is going to break.

Terry Sacka AAMS (05:59):
Things have been breaking, we know it, and they’re starting to even more in just the past few days. Here’s just kind of a list of a handful of banks. You got First Republic Bank based in San Francisco. It shares are down 16%. Phoenix based Western Alliance Bank Core stock lost nearly 35%. New York Bank’s signature bank fell 21%. And I can go on listing the banks that are starting to collapse. This bank index is, is screaming right now, going back to the basics is essential to understand because the interplay between the banking gold, silver returning back to fundamentals is going to be a crucial refresher. I don’t think they’re gonna do it though, but it could be serious if we don’t. We have to get back to risk management to just kind of explain for those that are not aware how deposits work. Number one, when you put your money in a bank, it no longer is yours at that point.

Terry Sacka AAMS (07:08):
You have given the bank a loan period. This goes back to the MF Global case about six years ago. It’s not yours. And by the way, that’s for brokerage firms too. Once you put money in the brokerage firm, it’s not yours. They have an obligation to pay you back. Now the way it goes on paying back and now many say, well, I got 250,000 F D I C insurance. That’s not accurate because there’s only so many billions in the F D I C fund, otherwise it has to become a bank bailout. But in 2008, the DOD Frank Law made it clear that there will no longer be tax pay payer bank bailouts. It will be bank clients bail ins. They’ll take the money to bail the banks out. And the succession here is the F D I C does step in derivative holders get paid back first.

Terry Sacka AAMS (08:11):
Mind you, there’s 2.5 quadrillion in derivatives in debt. So derivative holders get paid back first secured creditors get paid back. Second unsecured creditors get paid back. Third, and that’s us. We’re an unsecured creditor. If you’ve ever been a part of a bankruptcy proceeding like a chapter 11, you’ll notice that the secured creditors always get well. They get the most of the money, the chunk of the money, unsecured creditors and never get anything. And if they do, it’ll be pennies on the dollar. That’s what we are. We the people that have money in the banks and money in the brokerage firms, we are unsecured creditors. Period. And if you think you’re going to get it paid back, number one, you have to understand the the rules. Don’t go to the F D I C website because it’s all you blow smoke and mirror. Yes, technically, if one institution goes down, here’s these session of order, of course they’re gonna pay you back.

Terry Sacka AAMS (09:14):
It’s insured. But we’re not talking about that. We’re talking systemic. We’re talking banks going down all over the country and it’s just not going to be there, period. The good news is, if you’re prepared, you get out of the banking system predominantly you need to have some money in, I understand for bills or you know, your monthlies, but only so much and be prepared because you could lose it. I would be focusing on getting out of the banking system and if anything, I would be sitting in silver in a vault privately versus currency in a bank. And the good news for that is they’re trying to pivot here to net zero. I think it’s a, it’s a lunacy of an idea. I think it’s great idea to some extent, but it’s also very lunacy because it’s never going to happen. It’s not possible. We don’t have enough minerals for the batteries of electric vehicles.

Terry Sacka AAMS (10:10):
There’s not enough silver in the world for electric vehicles, solar panels and all the technology. It’s just not. So, this is a big smoke and mirror. They’re not being honest with you. The, the state of California’s saying everything has to be electric is the silliest thing in the world. There’s just not enough mineral. And then they’re not telling you the toxic waste of where these batteries are going. Once they’re, once they’re bad, they’re not gonna be recycled. They’re too toxic. So the whole narrative is wrong. If people really understood the depth of it, you would realize we’re on the wrong check. Now I like the idea of alternative energy. I think, you know, everything should be used. I think we should be using diesel, fossil fuels, nuclear electric vehicle. If you want to, we should do it all. But the way they’re going about it, they’re trying to slam us into a slave state.

Terry Sacka AAMS (11:02):
I call it. They want us into 15 minute cities. They don’t want us driving vehicles. They wanna limit our mode of travel. They want a digital id, digital currency system, and it’s not going to work. They’re going to fail if we, the people wake up. But the good news about net zero means there there’s gonna be an increase in demand for renewables, wind, solar, electric vehicles, batteries and such. But all these applications need a lot of silver. So that’s why if you’re focused on silver, you’ll, you’ll probably be very happy you did. Uh, moreover, silver’s cost of production puts a floor under its price because the spot price is extremely close to the production price right now. So silver seems to have like a limited downside, but yet the upside is going to be absolutely enormous. Once these derivatives get out of the way and the short, short naked shorts get out of the way, silver finds its way.

Terry Sacka AAMS (11:55):
My colleagues in the refining industry will tell you eventually there’s gonna be probably a 10 to one ratio of silver to gold right now that would put silver to $180. And I know we’re going there eventually. Right now, the manipulation of silver is purely for the psychological purposes that the dollar is still strong, but it’s not. Even if the dollar value is high, it’s not strong. We’ve destroyed our allies with a terrorist attack on North Stream one and two. Now we’re, we’re hurting them with energy and they’re in a lot of trouble over there in Europe. Uh, as far as recessionary trouble.

Terry Sacka AAMS (12:29):
So these chasms between the price of gold relative to the price of silver historically on the ratio is very interesting because we’re at 88 to one. So it’s one ounce, it’s 88 ounces of silver to one ounce of gold right now. And historically would be 16. Back in 2011 it was 35. So it is a tremendous opportunity as far as timing wise to be taken position in physical silver. Now, the reason why this is all important now in this not just another recession, oh, we’ll get through it. No big deal. You know, they, they’ll raise interest rates. Everything will slow down. Businesses will be destroyed. You know, it’ll, we’ll come out of it and everything will be fine. But that’s not true. We’ve ruined the world as far as the supply chain goes. We’re no longer a unipolar world where the United States dollar is the dominant reserve currency.

Terry Sacka AAMS (13:21):
Ever since we’ve picked a fight with Russia, uh, they even said, you know, powers who was at the State Department here for the United States even slipped up and said that we are at war with Russia. Were just using the Ukrainians to do it. Everybody knows that big, big, big mistake and it’s backfired tremendously on the west and the United States. It’s not hurting the Russian economy. They’re pivoting to China and Indian others in the brick nations. So we’re no longer a unipolar world where the dollar is dominant. Now, I know many people think the dollar is still gonna be king, but I have a different opinion on that. I think there’s a lot of cash out there. Yes, but what does it buy you? And we’re losing a lot of good faith because we have taken hundreds of billions from Russia. We’re pushing nations around. We’re telling ’em if they don’t do what we tell you, we’ll destroy you.

Terry Sacka AAMS (14:16):
The Saudi Arabia came out in Davos and they said, and made it clear there’s no longer a petrol dollar, which that is the only reason why America is what it is today because of the petrol dollar. Every country in the world needed dollars to buy energy. So they would store up dollars as reserve and they would buy us treasuries. Now that the Saudis said they would accept other currencies for energy, which is huge, that’s the reason why we went to war in Iraq and Libya and others because they were going to start other alternative sources of, of purchase of energy besides the dollar. But we can’t just go into tax Saudi Arabia, so it’s over. They now will accept other currencies. So you have about a hundred countries lining up with, uh, Saudi Arabia and others to buy energy in anything other than a dollar. So now they don’t have motivation to hold a dollar anymore, especially US treasuries, which is a really big deal cuz now we’re a multi-polar world.

Terry Sacka AAMS (15:13):
I think the Pandora box is open and I don’t think there’s any way that they can put it back in. I don’t know. We’re, we’re a pretty creepy nation right now. We’re kind of a nation in a way and more ways than just sexually. We’re, we’re really in a bad place. Morally. We’ve lost our compass. We’re not sticking to truth. We’re not sticking to constitutional rights. I mean, you have half the people up there in Congress literally attacking free speech. They’re against free speech in your first amendment rights. You even got Democrats as witnesses who voted for Biden saying, this is the scariest thing I never thought I would see in America. I mean, that should say, that should tell you something. Democrats are not the blue dog Democrats like I grew up with in Detroit. These are now communists. These are Marxist socialists and they hate you.

Terry Sacka AAMS (16:09):
They hate Christianity. They hate freedom. They hate free speech. They can’t stand debate because they would lose. So now we’re in a multi-polar world where you have the brick nations, Brazil, Russia, India, China, South Africa, and they have a phenomenal organization. Their currencies are backed up by commodities. You have the petrol wand backed up by gold. You have the petrol gold back in, in Russia, and they’re a commodity nation. That’s why we’re trying to go after Russia number one, because we could destabilize ’em, break ’em into four parts and take their 70 trillion in natural resources sending in our corporate goons to take control. That’s what they’re really trying to do. But it’s not gonna work. We’ve already backfired and failed. So you have over 60%, if not more of the world’s population, go into the bricks. You even had Egypt and you had Saudi Arabia and others that are allies who have said they have interest in joining the bricks.

Terry Sacka AAMS (17:13):
And the bricks are going to be forming currencies that are backed by commodities. So who would want a dollar that is backed by the good faith and credit of the United States that lies and terrorizes its own friends? They’re not going to want it. That’s the seventh stage of the seventh stages of an empire. We’re in the sixth stage. Now, the last stage is when the world loses faith in the currency. We’re done. And I’m not saying we’re quite there yet, although we’re pretty darn close. So now you have the bricks doing it. And here’s the big problem and why this is such a precarious situation for the United States and why I don’t trust the NeoCon movement. Then there are both Republicans and Democrats that want war because the dollar’s done and they know it. The banking system is done because the the world is finally decided no more.

Terry Sacka AAMS (18:09):
And this is at a time that the United States has more debt than any nation has ever had in the history of the world. What do we have to offer? The Chinese made it pretty clear out of 250 years of American existence, we’ve been at war 234 years of 250. That’s pretty stark. We are a wartime machine. The Chinese came out and said, we’re the ones that overthrow governments. We’re the ones that destroy countries. We’re the ones that drop bombs and kill people. That’s pretty brazen. They’re bright. I’ve never seen in my 55 years somebody talked to the United States like that. China is not backing down blinken. And these people, these guys are way over their head. All these people in the Biden administration, they’re so way over their head because they’re, they’re audio log liberal Marxist communists. They, they’re just over their head because the threats they lay out to China.

Terry Sacka AAMS (19:17):
China’s been preparing for wartime economy for the last 18 months. Many, you just don’t know that. You can’t just tell them what to do. They’re not listening to you. If you’ve, he, if you’ve heard the speeches that they’ve given over the last two weeks, it doesn’t sound like they’re intimidated in any way. We may have a pretty darn good military and we’ve got some decent weapons, but I tell you what, Russia has superior technological weapons than we do. And between Russia and China and others, they will sure give the west a run for their money. I’m not so sure that’s a really good idea, but because we’re in the highest debt in the history of the world of any nation ever, I think that is one of the biggest, most pivotable si uh, situation. To understand why it’s so important to be positioning yourself. We can pray that we can turn it around, but we got a country that doesn’t quite understand it yet.

Terry Sacka AAMS (20:13):
Anyone that votes for a Democrat doesn’t understand it. You’re, you’re probably thinking old-fashioned blue dog Democrat. You don’t realize they’re communists. You don’t realize they’re destroying free speech. They love censorship, they hate the church. I mean, we can go on and on. That’s just not real anymore. So I think a lot of people who think they’re Democrat, if they actually really knew what was going on, they’d probably realize they’re not, not like Republicans are any better all the time. The rhinos are just as bad as Republicans in name only. I mean, it seems like the conservatives are, are really the true that understand. But a lot of people in America quite don’t get it. But you know what? They’re gonna find out the hard way and they’re gonna find out when it’s too late. When we’re a digital id, digital currency system, slave state, programmable money telling you what you can and cannot do. If that’s what you want, don’t do anything. If you don’t want that, then start getting yourself prepared. Start talking to others and waken people up because that’s all we have left. So until next time, God bless each and every one of you.

 

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