The riskiest thing you can do now is leave your money in the bank
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- Äas pĆidĂĄn 15. 03. 2023
- Peter Schiff and Dan Ball discuss the recent bank failures and bailouts. Recorded 3/13/2023 on One America News
#bailouts #SVB #creditsuisse
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It was a very bad decision to remove the Glass-Steagall Act in the late 1990s, which led to the spectacular failure of huge banks during the financial crisis of 2007-2008. To prevent another disaster, Dodd-Frank and this statute both need to be reestablished right away. What happened with SVB is only the beginning of what will happen if nothing is done to address the current situation.
I believe SVB was making an effort to reorganize their bond portfolio. Yes, they would lose money if they sold their low-yielding bonds. But, they were trying to make up for it by repurchasing bonds on the open market at the higher interest rate.
Although the economy has so far held up, the SVB scenario serves as a warning that Fed rate hikes are still having an impact. At times like this, investors must be vigilant about the next inevitability. You don't have to act on every forecast, therefore I'll advise you to hire a financial counselor. This has been my fallback position for a while.
Would you mind telling me how to contact this specific coach using their service? Unlike the rest of us, it appears you have figured everything out.
Eileen Ruth Sparks, a well-known person in her field, is my advisor. I advise doing more study on her credentials. She is a great resource for anyone looking to understand the financial market because of her extensive experience.
Simply by pasting Eileen's full name into my browser, her website immediately displayed. You've spared me from doing a lot of tedious research, so thank you.
We can't even trust our own Government. I'm really worried about the current bank crisis. If a bank as big as SVB could fail, I fear for a lot more. I know a friend who is running a high-growth startup, and was badly hit by the bank run. I have pulled out more than $340k from my bank. After all, the FDIC covers only up to$250,000, and the implosion could have bad effect. Looking to invest into the stock market now. Does anyone know how I could go about it?
We underestimate the fact that banks are corporate entities also governed by greed. Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply invest through my financial advisor, collect my profits, which I then spend.
@@Natalieneptune469 I have learned to not trust corporations. I was badly hit by the '08 financial crisis. Since 2019, I've just been focused on investing through a financial advisor, and it has been paying off, and I'm never going back to banks full time.
@Jake Farmers Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. Wendy Helene Bennett is accountable for the success of my portfolio. She's searchable online, I believe.
End times, the nations are in turmoil, soon a loaf of bread will cost a days wares (read Revelation 6)! JESUS CHRIST is coming soon for the rapture of HIS true church - all born again Christians. Please accept JESUS as your Lord and Savior while you can!!! Listen to Dr. Ron Rhodes on end times chronology.
PS: please don't become a follower of the coming Antichrist who will create order out of chaos - for a while...
I'm really worried about the current bank crisis. If a bank as big as SVB could fail, I fear for a lot more. I know a friend who is running a high-growth startup, and was badly hit by the bank run. I have pulled out more than $340k from my bank. After all, the FDIC covers only up to$250,000, and the implosion could have bad effect. Looking to invest into the stock market now. Does anyone know how I could go about it?
Since the crash, I've been in the red. Iâm playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
@@hermanramos7092 Impressive can you share more info?
@@martingiavarini My advisor is ââChristine Jane Mcleanââ sheâs highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
The failure of Silicon Valley Bank has torn into global markets, with investors ripping up their forecasts for further rises in interest rates and dumping bank stocks around the world. I'm at a crossroads deciding if to liquidate my dipping 200k stocck portfolio, whatâs the best way to take advantage of this bear market?
The SVB situation is a reminder that Fed hikes are having an effect, even if the economy has held up so far,â Itâs precisely at times like these that investors need to be on guard against the next certainty. You donât have to act on every forecast, hence i will suggest you get yourself a financial-advisor.
I agree, having a brokerage advisor for inveesting is genius! Amidst the financial crisis in 2008, I was really having inveesting nightmare prior touching base with a advisor. In a nutshell, i've accrued over $850k with the help of my advisor from an initial $120k investment
Iâve actually been looking into advisors lately, the news Iâve been seeing in the market hasnât been so encouraging. whoâs the person guiding you?.
credits to Eileen Ruth Sparks, one of the best portfolio manager;s out there. she;s well known, you should look her up
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Beginning during the summer of 2022, I moved most of my cash out of the banks. Being retired I keeping about 3 months worth of expenses in my checking account. I also keep some money at another bank. Of course with the rise in prices it's not too difficult to keep at the three months limit. Put some of it in I bonds directly from the Treasury 2022 and will put some more in 2023. Also I sell short term options in inverse ETF. Iâve heard testimonies of people accruing over $450k USD in this red period. What measures can I take to achieve this?
I'll suggest you find a mentor or someone with experience to guide you especially in this recession.
@@legacymedia8468 Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K during this dip, that made it clear there's more to the market that we avg joes don't know
@Zahair O'Brian My advisor is ââSharon Louise Countââ In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of finan-cial market experience.
Wtf,
Buy gold, skip the bs brother.
Hyper inflation on it's way!!!!
Give the big guy 10% for a bailout
Its 15 % now with inflation
@@MustyBastard took my comment đđđ
Peter is getting interviewed by EVERYONE. đđșđž
As he should.
And he's always wrong. Always.
why cant more news channels be this integral? I've a lot of respect for Peter.
yup...peter is great..
They are controlled by elite billionaires. The govts do their bidding.
probably because you have a bad vocabulary?
LMAO I have respect for the anchor here making that joke. Finally someone with some balls. Target rich environment out here.
Banks now have a reason to make the riskiest investments and then things go south, the bank owner sells all their shares and quits.
And that's why capitalism is a beautiful system đ! A beautiful utopia where you can gamble to your hearts content, secure in the fact that you can never lose đđđ
thats what 2008 was. this is the result. they cant double or quits for the third time. the public wont buy it.
Whatever people do, donât deposit your money in the large banks, thatâs exactly what the NWO wants you to do, wake up sheepleđ€Šđ»ââïž
@@TheDaeroner nah in capitalism if a bank fails itâs assets are sold off to the bond holders of the bank.. if there is any money left over then the rest goes to the preferred stock owners.. and if anything else left over the common stock holders⊠now the banks are bailed out to protect donor populations and everyone else gets squeezed via inflation
@@888ssss yes they will, they are just dumb enough to blame it on the âwokeâ.
Glad I took my money out of the bank in November and paid off my mortgage.
Wait until hyperinflation hits and your property taxes are in the 5-6 figure range
@@chachisuave3470 Nobody ever seems to mention that. Mine's too high as it is.
There might be an economical turmoil but there is no doubt that this is still the best time to invest.
Best time to invest? thats funny though because in the last four months I have lost more than $47,900 in stock market which is the biggest I have loss since I ventured into stock investment.
you could be right or wrong . i once had similar problem but now its a different ball game for me because I was lucky to have met *KATRINA VANRENSUM*
I just added $240,000 to my portfolio
Really? people are cashing in from the stock market and frankly speaking its comforting seeing someone admit to the fact that they actually seek help from professionals. please how can i reach KATRINA VANRENSUM ?
Search her name on the web you will see all you need to know about her.
Love Peter stating facts
Almighty Kaveer is the Creator of All living beings..
And people wonder why they're poor when they have to cover the losses of the rich.
Does that make us all slaves??
they spent all their money on BLM and Pervert Pride psychological terrorism operations
100% agree...nailed it.
it's why they import so many foreigners - no coherence ie. cannot resist
@@donaldjohnson5966 yes....tax cattle would be a better term
Uhhhh, what the last 2 weeks taught me is that if you are buried into a bank you need 0 risk management.
Hell, I don't even have to worry about that FDIC insurance thing... that's no longer an issue.
Bank deposits are now fully insured, no? That's the precedent we just set.
I agree I don't know why you take ur money put of a bank right now. Especially a high yield savings bank giving u 4%. U can put it in the market so you lose a ton of money over the next few months I guess
Unhedged bets galore, basically no recourse for bad investments, how's that gonna turn out?
Because what is in your bank account is going to lose its purchasing power.
If inflation is 6% and your savings rate gives you 4% then itâs not worth it to keep it in the bank
@jordandoughty2658 sure but everyone says buy stocks and that is somehow a perfect answer every tho the stock could go down 30%....
the move to cbdc's things are way worse than people know.
I have nothing to lose. Iâm ready for all of it to crash so I can sit at the house instead of making a penny wage. Iâd rather spend time with family that I love than to keep coming to work for a paycheck that loses its purchasing value each and every day. When the wicked rule the people groan
So you can sit at the house?
What makes you think the govt isnt gking to start massacaring people and takimg their shit?
Sit at home
Thats a good one
Well put.
Who is exactly is going to feed the family you are sitting at home with? The government? Me? How about You be responsible for you.
The Fed just added 400 billion to its balance sheet. Last week the Fed balance sheet was 8.2 trillion dollars. Today it's at 8.6 trillion dollars. Thank you Brandon for more inflation. So long for removing 95 billion a month .400 billion was just printed up.
A deal with the devil is the perfect analogy.
Peter is #1
He has a horrible track record on gold and his clients were hosed on his investment advice
@@cspdx11 well no shit his strategies are for semi long term so if you are on board 2 years and lose money and jump off before correction. Makes sense why youd lose money. But to each their own. I've made money by investing myself in what peter says. Lastly. If you dont like him why watch his stuff? CZcams has a choice where you can hide videos so they dont get recommended to you.
impressive...
when he signed up "as a kid" he already knew about the 250 limit LOL
âThere are others that need to be shotâ 100% truth
If you remove every billionaire the economy only will rebalance itself and the world will be a much better place. Then remove the overpaid exec's
Everyone should check out the 15 minute social credit system cities in red China, and I guarantee once we're there, they're gunna squeeze until we're playing hunger games for them.
CBDC's are closer and closer. Never let a crisis go to waste.
Evil coin from evil corp
So what! Who wants your crappy cbdc? BRICS doesn't care . Who is going to use it? It won't work dude. Duhh
Start a fire and then come to the rescue. Absurd world.
Yes the usual "problem reaction solution".
@@AL-he2jt our economy is toast that's why they need war!
Iâm pretty sure my $750 is safe. Thank you though.
lol!đ€Łđ€Łđđđđ
Peter makes a normal working guy like me understand economics right to the t I understand every single bubble that's been created thanks to schiff
"it's a joke, folks...it's a joke..." lol
Privatise the profits and socialise the losses. That's not capitalism.
Crony capitalism*
This is similar to "Student Debt" forgiveness. With 1 sweep, the Government erases or adds randomly Billions of obligations based on random emotions. Like a drunk King.
not random emotions. based on allegiance status to the ruling power. if you kiss the ring and contribute to keep the elite in power, you get a bailout. if you oppose the political party, you get a train derailment of toxic chemicals bonfire and no bottled water.
Peter Schiff was right AGAIN!!!!
My watch stopped working 30 years ago. Itâs amazingly accurate twice daily.
sometimes its an alarm clock, and if your asleep looking at a broken clock you might miss the alarm
ââŠEven though itâs not good news to hear, but itâs good to hear it.â đđ€Łđ
Hi Peter! When you did your live podcast a few days ago you mentioned another economist. Not sure if it's Noriel Roubini but he's the only one that comes to mind. Very much like you he talks about the everything bubble. Couldn't agree more.
Unlikely, Schiff knows Roubini his name would have come straight to mind.
This is a situation where I don't want Peter Schiff to be right.
How to cause a world wide bank collapse in one easy sentence.
you can leave it in the bank as long as 10% was removed and converted to gold and silver bullion.
Thank you Peter. I knew I could trust you!
With all this scary news making the headlines, is this really a good time to buy stocks? I know everyone says the market is ripe enough for buying but will stocks tank further this year? How long until a full stock recovery?
Working with a reputable investing coach is now the greatest market approach. Since a while ago, I've been in contact with a coach, mostly because I don't have the breadth of knowledge or mental fortitude to handle these recurrent market conditions. I made almost $700k during this downturn, demonstrating that the market is more complex than most people realize.
@@trazzpalmer3199 weâre only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08â crash and Iâve been looking into similar opportunities in this present market, could this coach that guides yo help?
@@zoeytank2921 It's run by Maria Juliana Ramirez, who I learned about and got in touch with thanks to a CNBC interview. Since then, it has served as the point of entry and departure for the games we have emphasized. A search on the internet can be done if tracking is necessary.
@@trazzpalmer3199 I'm literally holding onto straws right now, so your tip couldn't have come at a better moment! I plan to call her after doing a quick internet search for her.
@@graceocean8323 Maria Juliana Ramirez appears to be a true authority in her profession. I looked her up online and found her website, which I browsed and went through to learn more about her credentials, academic background, and career. She owes me a fiduciary duty to act in my best interests. I set up an appointment to use her services.
this means Feds lost control of inflation because they are keep printing
Well done Peter! Excellent interview, one of the best I've heard in this whole event.
Now all you gotta do is buy a little btc to really blow me away.
Bitcon
Finally, a bright side of having no money!
Peter is the man!!!
I made money listening to Peter ...God Bless Him ......
Where did you invest?
Thanks for the Peter.
I've heard Gavin Newsom was a depositor at SVB and he's getting bailed out
Please document your claim.
Link?
Or did you hear from who?
I have 31 cents in my bank account, took me 40 years to save that
It's time we appointed a horse to the Senate, and declared war on Poseidon
in Gold & Silver we trust.
What about bitcoin?
@@adiintel1 i don't trust Bitcoin .
If you can touch it you'll never own it.
@@adiintel1 You are taking a gamble! If you do it, don't put much into it!
@@ahmedalsharman Agree!!
respect to Peter from Lebanon middle east
Peter is right. If you bail out depositors over 250K then the FDIC budget will be bust in no time.
The safest Bank now.............UNDER YOUR MATTRESS !!!!
Can't escape inflation.
Families are struggling to feed themselves but big Banks gotta bail out for bad decisions way to go Joe
With every joke, thereâs a touch of truth. đ
Peter always has such a nice sheen to him
Bitcon spam above here
Some of us mere mortals really appreciate the insightful analysis of the deteriorating situation that Peter has for so long enunciated. Many thanks.
Bitcon spam above here
This banking collapse might end up being a part of us for a very long time. With inflation currently at about 6%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
Indeed, you should hire an invstment adviser to help you diversify your assets to include ETFs/index funds/mutual funds and stocks of companies with consistent cash flows, rather than gambling on penny stocks.
The market's uncertainty is one of the reasons I have my daily investment decisions guided by an investment advisor, as their skill set is built around going long and also shorting the market to maximize returns, both employing profit-oriented strategy and laying off risk as a hedge against inevitable downtrends, and when combined with exclusive analysis, it's nearly impossible not to outperform. Since the 2020 pandemic, I've made more than $1.5 million after subsequent investments thus far.
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "LISA ELLEN SHAW" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
Itâs higher than 6%.
House and rent it
I withdrew all my money from the bank, thank you for this advice. Cash is king!
I thought Joe was going to say, "Putin did it!" Russia crashed SVB."
Haha I know right? America has always blamed Russia for everything lol
No. The first avenue of blame is Orange Man Bad.
Why does the dollar drop suddenly now that people still have the same money in their accounts they did before the bank failed?
I haven't kept my money in the bank since 2017. Had a good amount of money seized in early 2017, and just haven't kept money in there since. Just put $ in when I need to pay a bill..
Peter is always correct.
nobody is always correct, but Peter has a good track record
He's been right once in 15 years.
So Glen Beck says leave your money in and Peter says take it out? Just like everything else. What the hell do we do? Iâm sick of this shit. They are ruining our country!!
Yes
Powerful statement
Iâm glad my son took my advice to dump crypto and just buy gold. Heâs 34 and quite independent from his father and I. But if he lost his long term savings for his retirement now, heâd never have the time to rebuild his funds. We are a family of financial geeks and save, refused debt and live way below our means.
Are you crazy?? From when SVB collapsed, bitcoin is up +22%? It's been the BEST performing asset in the last decade. Bitcoin was literally made for this...
Selling bitcoin now is like selling stock in Pfizer as covid is about to hit it's peak...
Smart move!!
You are his father so how is your son independent from his âfather and Iâ
Bitcoin is technology crypto's are companies they're not the same and if he never figured this out, I'm not surprised
@@FirstnameLastname-vy2dg itâs his mother you jabroni
No, it's been risky since 2014
Why isn't anyone talking about the bank in New York that failed..
đ€đ€đ€đ€đ€đ€
Solid.
Robbed Peter to pay Paul... and Peter has always been right!
This is how the bailout should have been in 2007-2008. The banks should not have been bailed out, it should have been the citizens who had deposits in the bank. The Federal Reserve interest rate hikes led to the fall of these banks, why shouldn't it be part of the remedy? Buy gold says the person who sells gold. No matter where your money is, its value will be the same. Your dollar will be worth the same no matter if its in your hand, under your mattress, in the cookie jar or deposited in a bank.
Advice has always been, never have deposits over the FDIC limits. rather than have one $450 bank account, divide it between two or more bank accounts. Also use more than one bank.
WrongÂĄ. Currency is expanding substantially and buying less whilst gold only expands at 1 or 2 percent and is a store of wealth.
@@cheesecake7671 Reading comprehension issues. Suggest you go back and read what I said about gold. Never said to invest in either did I?
I do not think the president has the authority to spend that money which belongs to the taxpayer I was under the impression that an expense like that had to go through Congress
We already pulled out all our cash, zero in the bank, weâre going all cash from now on.
Hey Peter how do we create a paper trail after taking money out of the bank?
What about money in a brokerage house? And invest in GLD?
Not GLD, physical Gold!
Get your money off the banks and get them into the stocks markets or somethings so it still generates more for you. Because the recession as bad as it can be still provides good buying opportunities in the markets if youâre careful. It can also create volatility giving great short time buy and sell opportunities too. This is not a financial advise but get buying, cash isnât king at all in this time!
Yup! it's all about finding the right moment to take advantage of and generate colossal profit, which is why you need to do your research. A proper research or you hire a skilled professional
@@gatesbev To succeed in the financial markets, you must review and put into consideration, the dynamics of your trading asset prior to investing. Analysis Based on Research is Vital which is why; I recommend trading with a Professional if you don't know the basics. Thats just it
@@Andersonstew Yes i have, her name is Heather Lee Larioni. I found her on a CNBC interview where she was featured and i reached out to her afterwards. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care for supervision. I basically follow her trade pattern and havenât regretted doing so
Cash hasnât been king for 14 years, but more stonks!
I am seeing bond market is better place to invest if you really believe that jpow has to reduce the interest rate in near future
Nice quality
When Joe farted on the queen he blamed trump too...
FDIC is paid by the banks.. the banks pass that cost on to its customersâŠ
We paid for this bailout
Gold hit ATH down under today Peter, $2900AUD+.
Love your pods, keep at it đș
you can leave it in the bank as long as 10% was removed and converted to gold and silver bullion.
Didn't the government put in place a bill against bailouts of banks. If they are not using tax dollars, where is the money coming from?
It seems ominous that the Russel 2000 has dropped 11% over the last two weeks ?
Pete! You legend.
Bitcon spam here
Simple answer that I can understand thatâs why I love peter
Whoa, what a weird coincidence, the guy selling gold is telling us we need to buy gold!
Wait.âŠwhat?
Is this advice for Canada aswell???
Impressive
The devil is here to collect
This guys ready to shoot bankers.
This is going to make the deficit explode.
On February 7th, 1968 an unidentified officer was asked by reporter Peter Arnett of the Danville Register about the complete obliteration of the South Vietnamese town of Ben Tre, which killed hundreds of innocent civilians. The officer replied "It became necessary to destroy the town to save it." Same could be said for the 2023 Banking Crisis. Higher yields are making banks insolvent. So we are saving banks by taking actions that are driving yields higher and spreads wider.
Pootler is 'saving' Ukraine by destroying it.
It's being de-nazified đą
Yeah
Cool
Nothing will happen except peters beard growing faster than inflation
So the vast majority of my savings is in several banks in CDs. The longest maturity being about 15 months. All are under the 250k and I don't need the cash atm. So my plan is to ride this out and let things settle. Otherwise what's the option? To pull it out , pay a fee and try to buy 6 digits in physical metals? Don't trust Bitcoin , so like I said, riding it out for now. Thoughts? Thanks! đđ
Kilo of gold and become a dragon
â@@TkerIsAPimp a golden dragon?
No one is more excited about whatâs happening than Peter Schiff
Spend your fiat money on tangible assets you can eat, drink, and keep you warm. Some type of generator with a power transfer system attached to the fuse box on your house, before your money becomes worthless. Physical possession of gold as the Central Banks & the BRICS Nations have been doing. And silver bars, rounds & junk silver for barter.
Get to know your neighbors & your local farm to table producers through local Farmers Markets.
Better to be prepared & not need it, than be unprepared & suffer needlessly. In my humble opinion. đ
That's what I'm doing for sure
How can the president bail out these Banks. Didn't Congress have to vote to bail out the banks in the 2008 crisis. Isn't this similar to the president trying to bail out students with loans? That was blocked by the supreme Court because to spend money like that it should be discussed by Congress.
So when are people all going to rush for gold?
There is an easy and convenient way for the government to fix this problem - print more money (wrappers) it worked before đ€. Did you notice, banks lately do offer their clients CDs with very attractive interest like 3 or even 4% for only 9 months. They already know that something bad is about to happen so the bank urgently needed a large amount of money from it's clients in order to invest them in something to not have the fate of the Bank of Silicon Valley. Well, if without jokes, then all citizens need to invest hard earned money in real estate or to buy precious metals like gold or silver!
It's a great news