Bank of America: The Next Bank Run | $0 DOLLARS IN ACCOUNT
Video Transcript
Subscribe To Big Money [Music] breaking news as tens of thousands of Bank of America customers have essentially had their money stolen that’s right you guys tens of thousands of customers from New York all the way to California now have zero balances in their Bank of America accounts absolutely shocking now as of the recording of this video the only announcement that Bank of America has given us is that there’s some type of outage but being that Warren Buffett has recently sold 9 billion worth of stocks and as early as this morning an article from Yahoo’s issued stating that there is millions of dollars worth of Insider selling going on at Bank of America so I asked the question maybe just maybe and Mitch vexler is here to help answer these questions is this the start of a bank run or maybe this is a result of the hacking that happened earlier this year with Bank of America and I’m also wondering Mitch is this the beginning of the next round of Federal Reserve Bank bailout now unfortunately this has come at a horrible time being that we’re still trying to heal from a massive hurricane that has taken out multiple States and don’t forget you guys FEMA is broke now on top of that don’t forget we also have the massively destructive Port strikes going on right now which can potentially cost the economy five billion a day now in addition to that Iran just shot some missiles into Israel so so there’s a lot going on here we’re going to go into those things today and we’re going to end the video out by going over a brand new document a body of work that Mitch vexler has put together to share with you guys before I dig in Mitch happy Wednesday evening how are you sir there is certainly an awful lot going on isn’t yeah yeah reality is this is why we’ve been saying credibility matters and a lot of these things didn’t have to occur the way that they’re happening and they’re all stack in up one after another and in reality the key word in this case is credibility yeah and honestly and I was telling my wife earlier I and I told Mitch I was like I didn’t want to make a video today I wanted to rest but I was like this Bank of America story is too huge not to do a video so let’s show the viewers real quick what’s going on and let me pull up a map as well to show the viewers where the outages actually are let me quickly read this article Bank of America suffers outages as tens of thousands of users report struggling to get cash from ATM or check online accounts Bank of America is experiencing a nationwide outage that is impacting tens of thousands of users down detector a site that monitors online issues and I’ll show you guys that here in a minute shows problems struck around 100 PM eastern time it’s amazing that they can track this as users reported online and Mobile Banking and ATM services are down some of Bank of America customers have also reported their accounts are showing in empty zero balance that’s one of my biggest fears Mitch approximately 50% of issue reports cited problems with online banking 41% cited Mobile Banking and just 1% of users reported issues with ATMs now this is a breaking story so this is still developing here’s the website called down detector I recommend that you guys go to this website you guys can see here user reports indicate problems at Bank of America so this is kind of the line of First Defense now this is insane look at when this first started you guys about 12 128 p.m. that looks like central time they had 19,36 reports Mitch so I think that this may have actually affected hundreds of thousands of people because not everyone’s going to report this and you guys can see here again on your screen 19,36 reports now the most recent update is showing 3,824 reports I mean this is impacting look at and when we go through here you guys see again here’s 8200 19,000 15 11,000 I mean they have got massive amounts of reports they are flooding in right now declaring that there is something drastically wrong take a look at the map here when we go to down detector they also have a map portion you guys can see this is affecting really really big metro area San Francisco Seattle Los Angeles Phoenix Dallas Houston of course always Houston Mitch oh and you look it both of us are on here congratulations Mitch hopefully you don’t have a Bank of America account it’s also Tampa Atlanta Chicago little bit St Louis Detroit New York has a huge cluster here Boston Washington but it’s also showing these little areas right here so in other words this has spread this whole outage has spread across the nation my question for you sir and this is how I’d like to start the video and discussion I’m just gonna straight up say it all right and I’m gonna bring up the reports with Warren Buffett selling his stocks inside sellers selling their stocks is Bank of America broke depends what your definition of broke is right if you’re going to depend on the federal government to come in and rescue you as Deja Vu 20072 2008 no in reality by absolute definition probably because based on all the math that we’ve been looking at and all these other problems at the federal level and the Federal Reserve itself what not having money basically being bankrupt so it’s one one problem after another will the FED Step Up to rescue a serious problem to be determined but in reality the liabilities in the case of Bank of America that could actually be greater than the debt so think of that one for a minute CR Mitch I mean is this potentially results of we’ll get to the hacker part here in a second and maybe the hacker is just a cover Story by the way um do you think that you know if Bank of America is broke which we both know they are depending on your definition depending on anyone’s definition that has any type of sane reasoning comprehension would agree but do you think most of the liabilities in commercial real estate no um the commercial real estate is a huge problem there’s no doubt Office Buildings are a big problem multif family is suffering the subdivisions at this point are suffering with inventories going up yeah those are all big problems it’s what we can’t see it’s the off-balance sheet Cross collateralization of the debts because One Bank through the repo will put their money in and say okay fine we’re putting our money in the overnight repo so you’ve got ramifications here that we Mortals can’t really see what’s going on under the hood and that I believe is actually bigger than the commercial real estate so it’s a function of what the portfolios are commercial real estate so they take a right down 70 80% on the office building whatever it is um it’s not sustainable but I do believe that the cross collateralization problems where One bank is guaranteeing another bank’s loans that’s the Kabuki theater under the hood and if that has to get Unwound like I said it’s quite conceivable that the liabilities are greater than the debt and I don’t want anybody to be speculating on what they’re doing under the hood because we just can’t see it we know there’s problems and because if you read the Federal Reserve reports and you read and you look at the tier one capital and you study the balance sheet on one hand yes it can generate money on the other hand the liabilities of the debt side are one issue the liabilities of the Cross collateralization where they’re guaranteeing other Banks loans or other Shadow Banks loans that’s the stuff we can’t see it’s it’s not it’s not an on-balance sheet it may it should be an off-balance sheet but you still can’t see it well let’s talk about some of the things that we can see some of the things that we can see Mitch is that everyone seems to be selling their Bank of America stock Warren Buffett just to remind the viewers with birkshire Hathaway keeps selling more Bank of America stock Warren Buffett’s birkshire Hathaway sold more of its Holdings in Bank of America raising its total Hall to nearly you guys ready 9 billion over the last several months so this has been happening very very quickly late Tuesday the conglomerate said it further trimmed its stake in the country’s second largest bank by 21.6 million shares you guys making approximately 8627 million in profits from the sale this is also interesting Mitch because this came out this morning October 2nd you guys see that right here 7 am. so this came out and then they had this glitch so I’m a little suspicious I’ll get to that in a minute this article title says it all insiders at Bank of of America sold $4.1 million in stock alluding to potential weakness I want to ask you Mitch if you think this is a start of a bank run because don’t forget we just had the second third and fourth largest bank failure happened last year you guys remember Silicon Valley Banks historical Bank Run Mitch without starting any type of panic that’s not what we’re trying to do obviously if people are going to hedge themselves they have to become aware but to the best of your ability do you think that what is happening right now with Bank of America is the potential start of Bank runs um we can’t speculate as to what’s going on this could be an attack from a foreign government and it would be one hell of an attack but the reality of it is there are problems that we can’t articulate at this very second however with that said Bank of America if you look it up on the internet has been in the Target zone of problems for at least the last 10 months so are those problems true are they speculative in nature nobody knows but they are warning signs and what happened here today like you said we don’t want to cause anybody to start saying pull your money out however we are on record on one of these videos stating that if you’ve got a quarter million um you want to make sure you’ve got some FDIC Insurance even though the FDIC can’t cover off very much but whatever you get you get in other words spread that money around so that you’re not going to get smacked on any one Bank um and to your point no I don’t have any money in Bank of America but don’t panic let’s I am a little bit concerned at this precise second that the CEO of Bank of America hasn’t come out and said here’s what happened to us it’s all fine everybody’s at counsil will be fine we’ll get it all straightened out the fact that that hasn’t happened at this exact moment like prior to this exact moment um it’s troubling yeah no offense though to the FDIC but they’re broke they don’t have the money just to cover One bank failure Mitch uh FDIC is an illusion of legitimacy let’s move on now Mitch let’s talk about the data security breaches and let’s talk about the possibility of this being a hacker attack this is from this year February of 2024 don’t forget data breach effects 57,000 Bank of America accounts that’s what they’re telling us anyways it’s probably affected every single account they’re just telling us about 57,000 again February 13 2024m to your point about their horrible customer service it’s like they want to create a bank run with their lack of communication it’s just like just let our minds just run wild right or just come out and tell us what happened and be real but Bank of America customers left in the dark about data breach for 90 days Mitch a couple things here number one do you potentially think that what has happened today as a result of that data breach from earlier and also second part of this do you think all of these hacks are actually potentially just a cover up for the reality that these Banks they don’t even have any money they’ve never had money for a long time I mean these banks are absolutely broke so maybe this is just a cover story right maybe these hack attacks are just all nonsense or maybe it’s true what do you think more than likely they got hacked and it’s caused problems with the the deposit you can look at the timing of the deposits so it’s obviously caused deposits with multiple accounts okay that’s fine um at some point the truth is known so anybody that was participating in a cover up it’s going to end up in jail if that was true so I don’t think that that’s really the problem here but when we started this video in reality that key word credibility on everything you and I been working on today since really early this morning is the underlying key word why did the CEO or anybody from Bank of America not step up to a Podium immediately and state here’s our problem no problem all the bank accounts will be fine we’ll put all the money back whatever went on it’ll be looked after calm the waters yet so far that hasn’t happened that’s not credibility and that looks bad on the bank do you think that this is the start potentially of the next government bailout it may be coming in multiple directions based on what happened in in all the ports you know that video we did yesterday was so on point because like I said you don’t know where the next shoe that’s going to fall off is going to occur um it could be the ports so Bank of America is not nearly as big is the ports the ports are bigger that’s a much bigger Global problem and Bank of America is not yeah you could say it’s Global but not in terms of the size of the ports you know what’s interesting Mitch you know if I were to kind of just step back and think about a non-bank right non-banks is like they don’t have money see see where I’m going with isn’t Bank of America non-bank wow what you’re saying is a shadow bank right but Shadow yes yeah you’re getting to the same point where I was which is H how’s this money going to get paid back because I based on what I’ve been reading I think the liabilities are actually greater than the debt you know debt is oneome the liabilities is being greater than the debt that’s a whole different kettle of fish yeah yeah so you know at the end of the day you guys what we’re really trying to say is be aware uh be aware of the Illusions safety safety safety maybe take a step back and head yourself and I also want to give you guys a little bit of an Easter egg and I’m going to give the mic to Mitch here in a second we’re going to end this video out uh obviously you guys know that over the last about two months I’ve teamed up with Mitch vexler to help fight the property value fraud that’s going on with the Central Appraisal districts that’s going on with the state comp controller and he has actually put it’s really impressive actually the last eight years of his work his body of work into four pages you guys that document is going to be linked in the description access that document he’s going to read the first page of that document for you we want you guys to download this we want you guys to share it because we want you and everyone you know to become aware we don’t want you guys to be part of the rat race or confused or keep your head in the Sands let’s just play defense Mitch vexler you ready to start reading the first part of that document yes but before we do that for those who can afford it and have a little bit of money in the bank it may be a wise idea to have at least three months of cash on hand to be able to carry your household rather than leaving it stuck in a bank where you may and or may not have control of it best to have it hidden somewhere where you do have control of it that said um what we’re going to do here with these four pages like Travis said they’re at the bottom of the video but in order not to drive everybody crazy I’m just going to go through a very small segment of it and then I’m going to ask a question at the end of that segment so on page one I think everybody can agree and I’ve got formatted as let us hold the following to be true an implicit guarantee for which there is no signature is not implicit the contracts made under duress are unenforceable you have to have voluntary consent which requires adequate information lack of coercion Force manipulation or intimidation and the freedom to revoke consent at any time Mitch just just for some of the viewers that are just joining us now explain what you’re going over which is absolute gold I just I want everyone to be aware of of of what you’re reading this is obviously titled why is property tax illegal but but catch the viewers up that haven’t been following along or that are new through all these videos and there’s been quite a series of them with with Travis and some other great interviewers people that are from the real estate world that were able to poke at me and ask questions and solicit answers so over that time which I’m very thankful for I’ve been able to focus in on a question and the question really is is why is property tax illegal well you have multiple issues but that is what we’re breaking down in this document it’s only four pages but it really does cut right to the heart of the matter and that’s what we’re going over here so under C if fraud is discovered contracts are void D States and Central Appraisal districts across the United States have violated uniform standards of professional appraisal practice that’s usap which in many states is a third deegree felony and that is for the majority of States e the states and Central Appraisal districts across the United States have violated Mass appraisal standards and that is in the majority of the states F States and Central Appraisal districts have violated state property tax code I.E 2301b and 2301e in Texas and clearly that’s not all inclusive because you know under one of our videos we have a 10-page document called violations G states taxing entities I.E school districts Central Appraisal districts across the United States have violated the state constitutions uniform and equal in Texas and as far away as California with the Board of Equalization H pay your taxes or we’ll take your property I DFG and H above violate the US Constitution under the 1 5th 14th and 16th amendments J all of the above equals state and federal Rico crimes throughout the majority of the states and I want to leave everybody with one thought or question I would would like to know if there’s any federal or state employee anywhere who can answer one question how are these debts going to be paid off what I just read to you tells you the property owner you are not liable for the actions of what these people have done you would have to double the gross domestic product to 51 trillion above what it is in 2024 at 25 trillion just to pay down $2 trillion in debt the odds of that happening are zero at a local level when you’ve got compounding bonds cumulative compounding that aren’t being paid off they’re being rolled up and rolled out at a local level how is that going to be paid off it’s one simple question anybody please answer the question show me show me how you’re going to reduce this debt bankruptcy maybe does that reduce debt uh does bankruptcy reduce debt Mitch if I file chapter seven does that reduce my liability and my debt well in the case of the school districts you know chapter chapter nine to unwind them to find out what the truth is yeah that’s one way unwinding a lot of these debts absolutely that has to happen like I said either we unwind this quickly or the market will jump on board and when it does we will wake up one morning and you will see the market down massive I just wanted to say this so you guys have heard it here first I suspect we’re going to see I don’t know this for sure but in my gut I suspect we’re going to see a lot more of these outages and these hacks and I also suspect that it’s potentially a cover story but here’s the thing Mitch I don’t trust anyone anymore if anyone’s making any money off of anything it’s almost like they’re 100% not trustworthy I already don’t trust them if they’re making any type of money that’s why it’s so important to me that I show you guys and that M shows you we’re here to help we’re not going to charge you anything for that and don’t forget you guys as always everything is in the description answer the question that Mitch asked in the description if you have an answer for that question give it to us in the description don’t forget the links and also you guys send some prayers to Melody Wright she was one of the people impacted in the hurricanes in Tennessee massive mudslides FEMA’s broke millions of people without power it’s really ugly so and also the strikes also the War I mean we got a lot going on don’t forget how important you are how important you loving people is and how important Community is to making it through this together now other than that Mitch Beckler thank you for your time this evening sir I’m going to go try to have a date night at home chill out just with spaghetti okay it’s like five cents right with my wife and uh sir always a pleasure to see you any last any uh closing Mitch no for everybody that’s out there that’s thinking this is really overwhelming yeah it is but you can’t turn a blind eye towards it anymore we’re going to have to get involved and we’re going to have to dig in and fix it because there simply is no other solution it’s actually the reason why we’re in this situation is because there’s been too much apathy for too long the apathy or the non-care of the consumers what feels the fraud and overvaluation and just the unaffordability I mean seriously we’re the people when we unite we can take back our country and we can take back our lives and hopefully hopefully that’s what exactly what we’re going to see over the next four years at least that’s what I’ll be praying about Mitch now again sir I appreciate your time now if you guys are out there just living your life we wish you luck and we hope you winUS Financial News
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