Banks Have a Playbook to Close Accounts and Credit Lines - It’s Game On

hey it's dan welcome back you're watching i allegedly and i've got a good one for you today because i am in laguna beach again and seems like i do this a lot when we have banking issues and uh a lot of problems with the banks right now they're shutting down accounts uh they're getting ready to get the playbook set to close your account to shut off credit cards and just shut off lines of credit so before i get into it please take a second to like the video please hit the subscribe button share this with all your friends and colleagues and everybody who may be interested in this stuff uh don't forget we've got uh if you don't have a weeble account you can get one for free get a free stock below join our email list below as well but let's get into it citibank the banking conglomerate just announced that they are convinced that the stock market's going to have a huge correction approximately 20 percent at least um this is very interesting because what they're seeing is that is that they're changing their tune everything is great everything is great but they're warning um account holders they're warning shareholders that they could see an imminent collapse in the market in short order now that being said you need to be ready for this because as an older guy who has lived through 2008 and saw the banking debacle that they did to us back then this is happening all over again but from everything i've read and everybody i've seen i think that this is going to be much worse this time you know the real estate experts that i've talked to the banking experts the the stock gurus that i've talked to these people all feel that this crash is going to be harder and stronger than anything we've seen in our lifetimes it's going to mirror the great depression now technology has made it so that we can trade stocks you can be a robin hood or you can you know have m1 finance you can have weeble you can have whatever you want and trade and they're great programs for people but when you look at the average robin hood account when they did their financial uh disclosures to go public they only have accounts that basically have four thousand dollars for the value in these accounts so that being said it's not huge accounts but people are trading on money that they i don't think that a lot of people don't really have the they really can't lose this money right now they cannot afford it right now and people are doing more on margin than they ever have but getting back to citibank citibank sees a real problem on the horizon and you have to look at this from your deposits in your bank account you have to look at it to everything internationally that's happened first things first mexico mexico is having an inflationary problem like they've never had in the history of the country they're seeing spikes in prices again and what did they do for the second time they have a fed meeting like we have here and they took that fed meeting and they used it to raise interest rates so they've got over four percent interest rates right now in mexico and you can say oh that's ridiculous but this is what they're doing to curb inflation in their country now again we saw you know you know the peso fall and everything that's happened in the last 30 years and everything that's just been crazy with with uh mexican banking but when you look at this stuff and you look at what they're doing and what needs to be done here we need to taper here we need to raise interest rates here and remember this was something that was going to happen in 2023 and now they're talking about it more and more on a date basically a daily basis the fed is giving us hints that this could happen now speaking of international banking one thing that we're seeing is countries that are admitting that they're starting to have problems now and this is a problem for everybody and you can say oh how does india affect me dan how does the uk affect me well they do okay because you're gonna see these problems that happen internationally and they're going to start to affect banks that deal with these bad deal with these countries but you're also going to see problems with inflation you're going to see problems with buying power countries that manufacture goods africa right now is the next country that says that they're going to have international problems with banking okay they had a problem in 2013 called the tapering effect and it had to do with oil and it had to do with raising rising prices it's going to happen again and they are talking about how their banking system could be completely shut down as a result of this the stories below but again take a look at this take a look at what's happening around you internationally because this could affect each and every one of you now again i love this place it's got this winding walkway that we've never really you know investigated together but these are very very cool places to walk around to take a look at and and just a beautiful beautiful day out here look at that isn't that nice so next thing used cars they're saying that the used car bubble is burst okay again i thought it was all made up myself but now they're saying that used car prices are going to start to tumble uh as we get to um more manufacturing and more of a need for uh people to purchase new cars again huh okay where did this come from first things first you know a month ago you know you couldn't find a new car the chip shortage was a problem and uh you had to look at things like a used car but they were getting top dollar for used cars and i know people that traded cars into places like carmax and they had they had junk they had things that they needed to basically push in there oh honey we got it started let's get it over there that they gave them thousands of dollars more than the market value so that being said you're starting to see crazy things happen you're starting to see a twist in the economy where before it was uh everything's wonderful and uh we don't need to worry about raising interest rates so where they're going to start tapering even africa is talking about tapering so share your thoughts on this stuff do you think that the international banking is going to affect you i do i think that you know as we get these stories and look at the comments in the video it's really important when you look at people from holland people from germany people from uh turkey now are responding to all this stuff and they're telling me about the economy and what's happening there you know i'd love to hear from africa i'd love to hear more from south america but it's fascinating what these people are going through and how they're being affected how they're being told one thing and another thing is happening but what they're also seeing also is the shelves being barren for different products we're seeing so many different products that they're having problems with uh getting in the supply chain okay i thought we were coming back i thought everything was great so share your thoughts guys so this is the beach at the montage which again guys look at how beautiful this is this is free you can come down here enjoy yourself you don't have to be staying at the hotel now to keep with the banking theme and have another banking story there's a man out of northern california david barnett and mr barnett was basically scammed scammed at half his life savings and what the thieves did which was absolutely brilliant was they used a process called spoofing where they acted like they were bank of america he got a phone call from what he thought was bank of america and they said sir your account has been hacked we need to have you transfer funds immediately using the zell app and like an imbecile he did it very quickly now here's the thing if you ever get a phone call from the bank or at your credit card or any governmental agency or anything like that start asking questions he should have asked questions about the bank of america person on the phone and said you know tell me what my last deposit was what was the last place i used an atm they should be able to give this information to you to prove who they are if they're not going to do that oh we can't do that sir because of security reasons hang up on them and call the bank so this guy transfers half his life savings to scammers using the zell app to a third party and when you read the article it'll be below the guy says you know i felt kind of kind of worried about doing it but he had no problem doing it so that's on him now there's good news to this because bank of america gave him all his money back the following day so i would die of embarrassment and not tell anybody that this happened to me but this guy felt it was good enough to go on local san diego or san francisco news and share it with all of us so you get to see it now the next story out of the playbook of 2008 banks are getting ready to shut down accounts there are five reasons why banks will do this and also there is a great story from i think it's banking times or banking news whatever i've got it's in the video description below but they're talking about how to spot problem accounts and what they're doing with these problem accounts is they're closing the accounts that they think could be potentially a headache now what happens is if the banks don't understand what you do for a living what does this guy sell how can he bring some money in cash and credit cards and checks whatever they can shut down the account they can give you whatever reason they want because they're the bank but the main reasons that they're doing this is if you have poor credit so many people guys over the course the last year and a half have taken a financial hit that their credit's been hurt okay so that being said banks are using this as a way to close accounts right now which is absolutely horrible if you have been over your credit line and your credit card too much they're just closing the accounts now they're also adjusting the accounts so that uh your credit line is lowered substantially and there's nothing you can do about it and uh you know if you've been late on payments that's another thing uh you know just a normal headache for the bank they're gonna they're gonna look at ways to close your accounts right now the next two stories are very topical right now and that is the first time unemployment job claims hit another 375 000 this week again guys the last four weeks but if you notice they also upped the numbers from last week too so we're seeing that over and over and over again where they get these numbers and then they revise them upwards which does nobody any good and we're supposed to believe we're in this booming economy that there are over 10 million jobs available right now and you can get a job doing anything okay you want to be an astronaut be an astronaut i mean absolutely anything but that being said there's more and more people that are looking for work no one can you know pay their expenses and live full-time as a barista in certain areas like this you could not do that i don't think you work at this hotel and afford the area that i'm walking around in right now the next thing is the eviction moratorium this has a crazy twist to it for those of you that follow this channel i spoke about and shared a story earlier this week with a federal judge dabney friddich who said she didn't think that the moratorium would stick and that it was going to be overturned in short order because they didn't have a leg to stand on president biden shouldn't have done what he did blah blah blah well she's the one that just overturned this she said that it's gonna stand through october and that the argument that was brought in front of her was not strong enough to overturn the cdc's point and it's going to stay intact until october the first week of october that's crazy guys so again if you guys aren't paying your rent dun dun dun two-month reprieve again guys for most of these people and now they say it's 80 percent of the country but it's most of the areas that are affected with larger populations that could be affected by covid during this time now i want to expand on that earlier story from american banking and finance journal and that is this they have signs that bankers use to see if your company is in trouble if your industry's in trouble if your business is in trouble and articles like this are great to read to see hey am i part of the warning signs it's a great way to to get yourself ahead of the game and again as a connective marketer the one thing i'm a student i'm constantly learning i'm constantly adding knowledge and uh it's the only way to survive and stay on top of things you'll make more money doing this by the way because it's gonna you're gonna you're gonna stop problems before they become catastrophes okay so that being said look at these five issues but also take some advice for me on one thing and that is have multiple banks that you deal with do not just deal with one bank that is the kiss of death right now because you're going to see banks do different things that are going to shut people down in such a way that it's going to be over with okay and you know you may have a line of credit with one bank an account with another bank but again do yourself a favor and introduce yourself to the bank manager at every bank you deal with now the reason for that is i'll give you an example i had multiple banks i had one bank that we needed different things from lines of credit and things like that introduced myself to marty the manager and the way that you do this is this i'd like to have coffee with you they're all going to say the same thing oh i can't leave the branch no no i want to do it here i just want 15 minutes of your time so they know that they're going to have to block off 15 minutes for you now certain banks like bank of america they have you know sales people that work within the branch that are going to constantly try to sell you things the manager may want that person there which is fine you don't care about that make sure that you're there you're telling the the bank what your company does how it gets its leads how it sells how it collects money how your receivables are how your relationships are with your vendors and gives them a better picture of what you do and again if you sell something that is unique if you sell equipment or your you run a backhoe company and uh you know i grew up in construction so i know all these different terms and what things are used for but bankers sit behind a desk all day they have no idea what a backhoe is bring equipment in bring pictures of of termite equipment oh we use orange oil we use this we use that and it just not to sit there and grind on them and do an hour presentation but just so they understand this is what this guy sells okay now that being said you can increase your relationship so much by doing this and it's so simple again 15 minutes they will all tell you the same thing they're not going gonna go to starbucks with you or lunch and hang out you're not that big of a client and again work on your relationships with these people uh tell them what you do work on problems because if there's ever a funky deposit if there's ever anything that's out of the norm they know who you are and they're going to solve the problem now the other thing is bank of america is notorious for having what they call training branches these branches are horrible because they have employees that are at the branch no longer than 16 weeks that's only four months so you can have a manager that you sit down and do this beautiful talk with and he could be your best friend and that guy's now in duluth okay so work on that and find out about the branch now if you deal with bank of america go to another branch because they're not all training branches okay so take the advice try it trust me it'll work for you but one question i get asked a lot is problems with stimulus checks past uh stimulus checks some people got the first one didn't get the second and third some people got the third one didn't get the first and second if you are eligible for this the irs has actually set up a new phone number that you can call and i will leave the link below for you so you can hook up with them there is a thing called recovery rebate where even if you don't file a tax return you may have to file a tax return to get the stimulus checks the stimulus checks were also sent out in very ridiculous ways they were sent out the second ones were set out in white envelopes that were debit cards that basically looked like an advertisement as far as i was concerned with everybody that showed them to me so if you were eligible for this you wanted to make sure that you just didn't throw it away and it's happened so get the money reach out to the irs ask them questions it's the what's the worst thing that's going to happen okay you can just find out okay use the recovery rebate portal check it out and they'll tell you if you're eligible for it and what you have to do to get it so take five minutes out of your life and call the irs in reading all these news stories it's kind of funny that you see uh bankers people need to get used to certain terms now and the term tapering is something people need to get the knowledge of and understand so when it happens in the next few years they'll understand what it is well guys this is not going to happen two or three years from now tapering is the government limiting its assets by asset buying like through the fed so this is going to stop guys you're going to see this just like you did in mexico where they're going to have to raise interest rates interest rates in my opinion not giving you financial advice should be four or five percent right now and it should be realistically much higher than it is to purchase everything right now and that being said it's not it's free money it's free love it's great uh great story i found about prisoners getting ppp loans and they set up a ppp loan portal in the prison so that these guys could go out and get uh money for ppp loans created fake businesses fake financials fake everything so they could go out and get ppp loans on your dime as they sit in federal prison it's absolutely crazy people can't get their stimulus checks and these idiots are getting ppp loans so you know share your thoughts now i want to close it out in the most important story this whole video and that is this i have sad news to say that kentucky fried chicken kfc has announced that they're going to have supply shortages bad news man bad news so when you go to the kfc the next time you're going to have problems getting everything they may not have coleslaw they may not have the biscuits they may not have uh the mashed potatoes so just get ready for it as long as they have the extra crispy i'm okay with that so kind of ridiculous that now they're getting people ready for this frito-lay did it frito-lay's putting advertised advertisements in their different packaging to say we may have supply problems getting product okay i thought everything was perfect guys everything was absolutely fantastic so that being said clearly it's not share your thoughts it's very humid out here today but it's beautiful and i love coming out here when i talk about the banking stuff it just really is a great place to clear your head and uh and just relax so please don't forget to hit the like button hit the subscribe button share it with all your friends and colleagues and don't forget to join the email list if you want to join the patreon group you can join the patreon group and get more access to me onward and upward guys i'll see you guys very soon [Music] you

Channel: I Allegedly

Views: 447,664

Keywords: bank closures, closed credit lines, broken supply chains, Industries Eliminated, Unemployment, Restaurants Closing, PPP Loans, Real Estate, Business, Stimulus update, bitcoin, eidl grant, small business grant, stimulus, grants, iallegedly, Dan iallegedly, EIDL Targeted Grant, Small Business News, Retail News, worst economy, Business News you can use, New Stimulus Check, Economic Bubble, New Cryptos, inflation, Economy, Grants, Credit, Closed Bank Accounts, Bank Playbook, meet kevin

Id: fNIh_7jMnP4

Length: 22min 3sec (1323 seconds)

Published: Sat Aug 14 2021

Reddit Comments

[u/ahminus]

"Africa is the next country..."

Oof. Hard to take this guy very seriously.