This could really set off financial chaos in europe energy shortages and energy crisis they will be forced to source their energy from somewhere else and they’re going to pay a lot more to do it this also is going to be very good news for countries like china in india who don’t mind buying
Russian oil in rubles russia just came out and said if you want to buy our oil you’re going to buy it in rubles or we’re shutting it off and that’s what they just did to europe apparently according to this article on the hedge going to be great news for any country
Who doesn’t mind buying discounted russian oil in rubles and i believe we’re going to see more and more countries step up and do this and this is going to be a very harsh consequence to us and to the u.s dollar and we’re going to right now watching the process
Of the us dollar beginning to be phased out this is just the beginning of the end for the us dollar how long it takes don’t know but we are watching history now being taken taken place and we are watching a real threat to the world reserve currency we call
The us dollar a real competitor uh as russia china india the brics nations all now looking for ways to get around the dollar they’re going to phase it out ladies and gentlemen and the rest of the world is going to jump on board so be prepared because america will feel it
The most uh our standard of living is going to fall the most and most people right here in the u.s are completely unprepared uh and and absolutely naive don’t even know let’s just face it most people have no idea what’s going on and they could care less but they’re going to care
Uh at some point cnbc over a third of americans plan to spend their tax refund right away and what are they going to spend it on they’re going to spend it on paying their bills 31 said it will go right to rent to medical bills or debt 15 said
It’s going to go to gas groceries and essentials we are living in a whole different world ladies and gentlemen a whole different world you know i was talking to a friend of mine yesterday and we were talking about the state of affairs that this country is in financially and
My buddy marshall a very very good friend of mine been friend for for many many years and we were just comparing the us to an addict the the the united states of america is addicted to free money it’s addicted to low interest rates it’s addicted to cheap credit and
The addict is never going to get help until the addict can admit that there’s a problem in the attic the addict is willing to do something about it um and we were just talking about this and we have a real sickness here and this sickness of zero percent
Interest rates and cheap money and money printing and spending money we don’t have this is america the biggest determination on planet earth and the addict has two choices you can admit that it has a problem and it’s willing to do something about it and it’s going to be
Willing to go through the pain and suffering of the withdrawals by doing something about it by getting off the addiction getting off the cheap free money the other option the other choice to the addict is the addict just continues to indulge even more the addict continues taking more and
More medicine in our case more qe more money printing more debt more cheap money and if you go this route if you if you take the second choice as a nation and this nation of addiction addicted to all this cheap money and free money if you go
This route which in which case we probably will go this route the addict at some point overdoses and dies and that is my biggest concern and my biggest fear for this country is that we’re gonna go the route of an addict that doesn’t want help doesn’t if there’s a problem
Cannot stop the addiction of the free and cheap money and at some point overdoses and it’s game over that’s really where we are at as a nation um you know these people today that just walk around oblivious to what’s happening in eastern europe oblivious to what’s happening to
Their pensions oblivious to the market manipulation uh all this money creation oblivious uh to the direction that we’re going in we’re broke people just don’t realize it and you know somebody commented the other day that well if it gets bad they’ll just file bankruptcy they’ll just file bankruptcy
And people figure they’ll just take the easy way out that when things get really really bad they’ll take the easy way out and i just noted a few things here and you know the bankruptcies bankruptcy laws changed since the last crash and i don’t i don’t i can’t tell you
Specifically but it it’s a little harder to file bankruptcy now than it was back um uh pre pre-financial crisis time but it will have an instant negative impact on your financial future no doubt and as we are heading deeper into this depression which many americans now are
Beginning to admit that we’re either in a recession and many believing that we’re even in depression right now people believe that they’ll file bankruptcy and have this negative impact on their financial future at the worst possible time think about that would why would you file bankruptcy in a
Depression it’s the worst possible time and ask yourself how will you obtain credit at the worst possible time how would you rent a house rent an apartment buy a house if you just filed bankruptcy at the worst possible time and let’s not forget that it will leave
You with a lot of non-dischargeable debt for example tax debt not going to be able to discharge that in a bankruptcy property debt student loan debt spousal support child support none of this can be discharged during a bankruptcy and remember you may get off the hook
Slightly and not have to pay some of the debt back but you’re not going to get off scot-free you’re going to be paying something back so people just believe that there’s going to be some easy way out like a bankruptcy if things get bad or i’ll just depend on my credit cards
But what happens when they shut your credit cards off or they say hey your ten thousand ten thousand dollar balance now is only going to be a five thousand dollar a line of credit or a two thousand dollar line of credit you know everybody goes oh i got uh
Twenty thousand dollar line of credit or ten thousand dollar line well what if the banks just say we’re cutting that in half or you’re going to have a two thousand dollar line of credit that’s it or they just shut you off completely what would people do
We are so reliant on the easy way out we’re so reliant on the cheap money we’re so reliant on credit cards nobody for the few exceptions out there is prepared for what’s coming somebody um said that i was uneducated because i said get your money out of the banks
Just keep the minimal amount in there that you need to pay bills because it can be seized it can be frozen it can your accounts can be shut down cyber attacks grids down um an agency can come in and say that you’re under investigation for this this or this
Your account’s frozen maybe a judgment your account they’re going in they’re taking your money well somebody said i was uneducated because they said the fdic insures all bank accounts now the last time i checked and this is kind of difficult to find but the last time i checked
There was the fdic had 25 billion dollars in resources uh to insure over 11 trillion dollars of depositor money okay so to that person out there who says i’m uneducated like look i wasn’t a great student i was a terrible student hated school but i can
Add two plus two i can connect the dots and i can read some data and i have a pretty good idea and a pretty good sense of what’s going on but maybe this person has three degrees and maybe they went to stanford or berkeley and they’re you
Know maybe they’re a lot smarter than me and you and but for whatever reason they don’t have any common sense they haven’t looked at the data because again last time i checked there was 25 billion dollars in money in resources that the fde fdic had to ensure over 11 trillion dollars
Of deposited money in the u.s so if things all of a sudden took a huge dump at this instantly uh there is not enough money from the fdic to ensure all the depositor money in u.s banks fact period and story so to the person out there who must be very educated
They didn’t do their homework so you know look you could have a third grade education ladies and gentlemen and you’re probably brighter than most people now with a degree these people who think they’re so smart with that eighty thousand hundred or hundred thousand dollar degree hanging on their wall yet
They don’t even wanna work at starbucks or maybe they are working at starbucks or they’re working a minimal type service type job because they can’t even get a job with that degree the the degree is worthless they’ve been duped bamboozled fooled suckered um into this degree mainly to
Feed the ego oh i have a degree even though i don’t really know anything and that’s not to everybody there’s people out there with degrees and i have attorney friends and engineers and architects and people like that who have degrees and they’re smart and but they’re awake too but so many people
Just rely on a piece of paper hanging on their wall to tell them that they’re smart when they know nothing that’s going on they have no idea what’s happening in eastern europe right now they don’t have any idea what an ounce of gold is or how much it is how
Much ounce of silver is right now where the dow jones closed on friday they have no idea again these are the people that are having to settle for minimum wage jobs now with a hundred thousand dollar degree hanging on the wall and they’re going to be debt slaves for probably their entire life
So again do your own due diligence do your own homework you know someone said that also this is this is what somebody else said and and this is again pure ignorance out there that there’s no such thing as a plunge protection team i’m making it up uh for my recollection the plunge
Protection team was established in 1988 brought in by ronald reagan after the collapse of 1987 and they were brought in to really intervene that that if the market was getting out of control that they would step in and put the brakes uh in these markets and and basically manipulate the markets
Uh you know we have circuit breakers in these markets now we have the fed buying treasuries and bonds which this person said that the fed’s not that the fed doesn’t buy stocks the fed doesn’t he the fed’s not in the stock market well of course it is it buys bonds and
Treasuries every day it’s buying stocks it’s manipulating these markets that there are no fundamentals in these markets any longer so i want to uh switch gears here but uh you know there are there is so much ignorance out there again and i wish people would really um take five minutes and do a
Little bit of homework and a little due diligence because i think if they did um they would be much much more awake stop relying on that 80 000 degree on your wall now now that you can’t find a job you can’t get employed and you’re forced
To work at starbucks or a burger joint which if that’s all you can do god bless you i think everybody if they’re able and capable get out there and do something productive but i think that now people are hoping that their college tuition debt is going to be paid for
Uh that the uh this uh forbearance or moratorium is going to end soon and these people are freaking out but it’s the same people who got suckered and hoodwinked into buying one of these these degrees only to be left with a service sector job yet they don’t know about the plunge protection team
They don’t know anything about the fdic things that all of you know and thank god you do knowledge is no doubt power we cannot even begin to fix anything we can’t do anything for ourselves until we admit that there’s a problem and once we do that we can begin to
To solve the problem or at least preparing for a very rough time right if we don’t admit there’s a problem then we have no concern no reason to prepare and get ready once we admit that there’s a problem once we have a concern that this thing is getting out of control we take
Action and we prepare mentally physically spiritually and financially i want to talk about home builders here for a couple minutes we have a massive housing bubble and this thing is going to get ugly 800 000 single family homes under construction right now ladies and gentlemen under construction
And if we go back to 2005 2006 we were around 950 960 000 uh homes under construction around that time according to the u.s census bureau data 500 000 of these homes have already been purchased 270 000 have been built on spec many of these purchase homes
Are going to run into big trouble because now that rates are going up uh people are going to bounce out of these contracts because when they um purchased these homes a couple months ago rates were in the threes now we’re approaching five percent and that’s going to be a big deal
If you put down a deposit on a home at let’s say three percent and your uh your payment was thirty five hundred dollars a month today at four point eight four point nine percent that payment is over four thousand now if we uh we’re going to get
A rate hike probably 50 basis points now i’m going to go 80 percent may we see a 50 basis point rate hike it is a matter of time before we start getting close to 6 percent on a year mortgage at five point nine percent that thirty five hundred dollar mortgage goes
To forty two hundred dollars and that’s a big difference that is a big difference and we’re gonna see because of this because of rates going up mortgage rates uh we’re going to see home builders begin to get themselves in big trouble like we saw back in 07.08 and
These homes right now many of these builders can’t even finish the homes they can’t get the appliances they can’t get the parts uh to finish these homes and and the longer and the later they wait to get these homes completed the more risk they’re taking on that
Rates are going to go up and heaven forbid something comes out of left field that we’re not expecting right now and we could see an instant instant collapse but another problem uh i want to say too on this video is less and less buyers are going to be able to qualify
For these homes as they’re going to be squeezed out by the monthly payment so people who could qualify for 3 500 they may not qualify for 40 200 they may not qualify for 4 000. so a lot of people uh are going to cancel and a lot of these contracts say that
If for whatever reason the buyer cannot get financing they’re eligible to cancel these contracts and many of these buyers who purchased these homes a couple months ago that these homes may not be completed for the next two or three months they’re not going to qualify because rates are going
Up what about the 270 000 spec homes currently under construction right now what role will rising mortgage rates play in regards to the 270 000 spec homes under construction right now it’s going to play a very negative role in my opinion comment down below let me know your thoughts but whether it’s
Spec homes or homes that have already been purchased by these these new home builders it’s going to be a big problem as rates inch up and up and up and where’s the breaking point in the 08 crash it was six percent is it gonna be six percent again will it even take six
Percent to really crush the housing market will it be six six and a half seven eight what what will it be where do you think this is all gonna go will we even see six percent mortgage rates anytime or will we see the fed back off and go back to low rates
I don’t know i i think that we’re going to see the 30-year mortgage rate go above six percent and i think we’re going to see that happen this year they said that we wouldn’t even be at five percent until the end of this year we’re already i think at four eight four
Nine this weekend and after that 50 basis point hike in may and another hike coming in june i think i think this summer uh we’re going to see the 30 year at six percent no doubt i would be shocked if we don’t could it go even higher absolutely this is going to have
Catastrophic consequences on the housing market existing homes new homes spec homes you name it it’s going to be big trouble so uh take the weekend continue to prepare ladies and gentlemen thanks for watching i hope everybody’s doing great thank god this weekend just really take a minute and thank god for everything
You have you’re you’re living you’re breathing you have family you have friends you have pets you’re alive uh you you are watching videos like this that means you’re awake you’re aware and you’re preparing so you have a lot to be thankful for it doesn’t matter the zip
Code the car you drive the watch you wear it doesn’t matter what matters is what you’re doing right now you are waking up and you are preparing the best that you can there are people that can prepare better than others but do what you can do whatever you can today to put
The odds in your favor that you prosper during the worst of times and that um we’re going to kind of soften the blow when this thing really hits and you know i believe we have really witnessed a death by a thousand cuts but at some point this whole collapse is
Going to accelerate it’s going to be like going straight down on a roller coaster and a lot of people aren’t wearing their seat belts and they’re gonna fly off this roller coaster make sure that you are preparing have a great weekend and god bless
