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Wall Street vs. Small Businesses

The Steve Noble Show / Steve Noble
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May 5, 2020 2:53 pm

Wall Street vs. Small Businesses

The Steve Noble Show / Steve Noble

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May 5, 2020 2:53 pm

Wall Street vs. Small Businesses

On today's full Money Monday with David Fischer of Landmark Capital Gold we discuss Wall Street vs. Small Businesses. With the tail end of the COVID-19 pandemic, how is this going to financially affect small businesses? Find out today!

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Everyone use time for this noble show where biblical Christianity meets the everyday issues of life, your home, at work, and even in politics. Steve is an ordinary man who believes in an extraordinary God it on his show. There's plenty of grace and lots of tree but no sacred forgery 866-34-TRUTH or checking all alive. Steve Noble Joe.com gives your host go knows I'm not talking about average because that's actually up a little bit today and instead what I'm talking about is the state of the economy in general, 30 million+ unemployed, the Fed printing money like there's no tomorrow light like literally like there's no tomorrow there's nobody else is going to have to actually absorb all this nightmare and end in propping up big business and then what about all these loans. What about all this helping other government with the Donald Trump there at the top and the Fed and the Congress about the house and the Senate, but none are Superman caves and their sweeping and to help all the little guys and all you small business owners accept the vast majority overwhelming majority of the money is going to really big corporations, not little guys, not sole proprietors, not the small people that are struggling to make ends meet on a weekly basis. Literally. And so, I don't mean to sound like a mist that sounds like a Democrat talking point a Democrat Montréal. These big sell these big businesses and Dutta. But in this case is actually what's going on a lot of troubling things going on in the economy yesterday. We are on location.

So we were able to do a full money Monday with our good friend David Fisher from landmark capital.

So we switched it today. So where I would live today with David Fisher on back in the studio here in the Raleigh Durham Chapel Hill area of North Carolina, David of course is over in Phoenix and I David, good to hear from you.

How are you good to see you and welcome back to the show sinks or have my own great to be on your show. Got some startling news again. Not a week goes by. Seems like we have more information that just I can't believe it's this is real news, but do you read far about them today under show guys, tempting as it would be to be saying fake news, fake news, fake news, this is actually not fake news.

This is a learn a lot of alarming things and then there's always the disconnect between kind of what we're experiencing and in these numbers ever to talk about today versus what's happening with what the market so it's just said since the strange a back-and-forth between these things, and so we got a lot a lot stock about puts it on the market on the issue of the market.

This is going to start their worry at your today what's the market done. Obviously we go all way back to the beginning of the year.

If you're looking a year to dates.

It was, you know, I'm looking at a chart January 2 at 28,868 today finishing a 23,000 883 so I you know, obviously an enormous difference there 5 to 6000 points and was as low as got down as low as 18,591 points. It was on March 23.

So what what are we looking at just kind of this year to date in the market. So the Dallas down 14%. Even worse though so far recovery but it's not broad-based in all the stocks are just a small amount of stocks that are making these big moves while defending stocks you text talk Steve in a few truly crude stocks you will some financials is not really broad-based. S&P is off 11% and .9 gold is leading the charge. 11.7% your learn why that is consistent environment wherein but you know what a person we should've bought when this thing was low… This is made the old adage selling may go away so historically the May month and it showed up last weekend, a few days so yesterday that the market was off the suggestion two days 1130 points about down 4.6%.

It's recovering for this.

This is a yo-yo buffet came out and said that in his annual meeting over the weekend quote week didn't see anything attractive to buy." Child leave. That's quite a statement from Moran buffet. He's he's the guy that bought stock in 2008, when the market crashed, was criticized in January for not buying really much of the market and having so much cash on hand while he made out like a bandit, as they say he didn't take the downturn and he's not playing the upturn which tells us you must believe that symptoms can retest the lows carefully, locks it is going to retire slows the largest hedge fund manager. He pedaled put a legal bet on it. Eventually Buffett said that if you buy stock right now by for a long long long period of time and don't look at it as he believes the markets can retest lows and usually does recruit corrections or bear market/report and I monthly test lows with my test of the low, yet always a bear market has tested the low time somewhere in the camp that saying you won't know. They also said we never go down. But I think were in a test lows yet.

It's interesting when you look at tablet that the stock market is on one would think when we added death 30 literally 30 million people to the unemployment rolls in the last five weeks that that would cause the stock market just to go into the tank yet, found its bottom several weeks ago that is been coming up.

You know, cut off and on, but generally trending up. And so again I add that sometimes am always scratching my head. David gone where's the disconnect here will there's a disconnect between Wall Street and Main Street. Wall Street is is once again living there on dream come true and I'm not against Wall Street, but that the disconnect was huge in 2008.

The disconnect is already bigger now than it was in 2008 the economy was moving one direction at the market was going up in the market is calling up without showing some signs of testing, but the big thing is going to test the low again this can go back down, but the unemployment at 30.3 million people. You know that's that's like the depression you this is a hold of the thing. In $1200 was not enough money for people to make all the bills in one month and we've gone most seven weeks now and are looking for some more help and you know I the ironic thing about the PPP. The payment protection program that was the first round. J.P. Morgan gave out 6% of that money to small businesses less than 100 people so the money is not going worse mostly goes going to big corporations. Again, you know we were talking about this. You and I headed times about an hour ago a little bit just for five minutes and you miss you mentioned some good companies. You don't get money from the PPP and given him back and yeah, there was like a Shake shack was a perfect example to get 10 million bucks ago wow that's a lot. There's a lot of shake checks around the country, but they turned around and were able to raise like $120 million in private capital and they turn on Sandhya.

By the way, we don't need the 10 million after all, and there's a whole lot of big companies that have the ability to do that. I don't know where the means testing was here, or if it's kind of that that that the liberal mantra that hey, the Republicans only care about big business and Wall Street and blah blah blah and easily look at this kind of stuff and you go okay.

Why in the world are we giving money to giant corporations that can reason on their own or have the ability to weather the storm for a little while versus the little guys that can't and so again we got this really keep touching on that we got this huge disconnect between Wall Street and Main Street in the government acting like they're saying they're helping everybody that's her new Savior, who needs God when you have government with the little guys largely are not getting the help that they need more than for corporations, and so was disconnect pick it up.

There is, let's talk about the Fed printing money like crazy were irritated Fisher will be right back. And this is really the rich get richer. What LME what MI Bernie Sanders would have talk and stuff like that going okay on the big corporations are getting error of their find the little guys not so much when the federal government sweeps and because in this country anymore even though were still about 70% of America will self describe its Christian when you scratch the surface so that it doesn't. That means they believe there is a God rather than know God, Jesus, it sounds like a pretty good thing in church is a good thing, especially Christmas and Easter, but people need to think that we have a nation, even predominantly full of born-again Christians is utterly ridiculous and so as as I talk about that as I talk about things we have to remember that that we just aren't operating from a very effective worldview as a nation. In it, and for most people as individuals and when we least we can to get God the actual God of the Bible, Jesus Christ, the Holy Spirit, we get that out of the nation and we don't get a lien on that.

What's to take its place and then and it's generally the government where you look. Where does my help come from my help comes from not the Lord it's from government and so we look to the government all the governments in a sweep.

Then we got all the small businesses that are shuttered in all these businesses that are going to die and in and people that are going to go broke and employees that can't get paid because the business is shut down and the government says all over.

Get aboard in a pump you know hundreds of millions of dollars billions and hundreds of billions of dollars working to help you help these businesses stay afloat.

Yet the overwhelming but majority of the money is going to big corporations, big business, rather than the little guy and that's just wrong. We talked about this or talking to David Fisher today were doing a full money Monday on a Tuesday.

Just as we did a remote yesterday, so we had to push until today. First Monday of the month. We always do a full show at David Fisher from Lamar M. Our goal.com by the way, is there websites you can begin to get yourself educated on what role does precious metals play in a healthy portfolio which is very challenging these days.

Obviously, but it's it's really really upset upsetting David that we see the government you said this a minute ago 2008, a kind of like 2008 again and what you say like six big banks got all the money in 2008, and here we are saying hey working the lookout for the little guy and Donald Trump up a Republican say and that were the yeah row Ross's boom by yet the vet the vast majority of the money not going to the little guys still goes to the big guy yeah exactly and environment Republican at heart. My denture was a Reagan so there's nothing socialism in the unconservative.

But in order to call a spade a spade is the matter with if they're blue or red. It's it's it's the action behind it. Not not how was set up, maybe was not maybe right in 2008, six big banks got the money for the attention. The purpose to limit out to small businesses do they do that, absolutely not.

That's why it took so long to recover. This is same playbook different era with its different twist in it, but the score is still the same big money is getting the money 6% of the loans go went to sole proprietorship switches you know the consumer is the ones represent 70% of the economy and the consumer's one that sets up a emotional proprietorship, but the big companies the corporations you know they are getting all the money and these are the same companies that bought stock in a limited buyback court, corporate stock, bond buyback and raise debt that they can make their debt payment now to get bailed out to the federal government to the PPP program least that's what the first round is will find out what the second round this note, you know this is all happening while consumer spending that was collapsing the worst annual drop in the peak of the Lehman crisis.

Steve and unemployment is the worst since 1929 and at the same time the US treasury announced that the concrete floor trillion dollars of debt $4 trillion more treasuries this year so 300% increase in this is the stimulus that the guy I get why they're doing it, but the numbers are so unpalatable and there's not going to the right areas that were playing the same playbook over and over, but this time were to run the edge of the cliff. Because the debt structure is just balloon kindly nourishment $5 trillion since September that's added to the financial system to 2.3 trillion 2.2 trillion was from the national debt. The national debt grew 2.2 trillion since September of last year's and the Fed created 2.8 trillion in quantitative easing since last year and they don't handle most of this is been having last six weeks so then they're not stopping this this kid fifth gear pedal to the battle, so we never ever never ever seen such a thing as this. And you know there's going to be doubling ramifications for we can just print our money and create money out of thin air and spend money like crazy and say we want to pay back and will have to manage it or Olivier know what everybody lives in the here and the now and not just like most American families are ready for $1000 car repair.

Everybody's living on the edge of the cliff and so when we wag our fingers at the federal government for this their mismanagement of funds and for debt and for the deficit that the generally you know you got three fingers pointing back at yourself because the whole countries kinda built this way. And as we look around the world. Unfortunately, we see this around the world just to look at the debt clock is literally just go look at it. I look at it pretty often.

US debt clock.org you can switch to a world that clock and you see bread everywhere in and just earlier this year and in the second semester me teaching in my civics classes I was shown on the US national debt.

You know we are coming up on 23 naturally and I'm looking at it right now it's 24.948 trillion will cross in the 25 trillion pretty soon and it's gonna push towards you know the high 20s.

By the end of the year means it's unbelievable what's happening in an unfathomable now. We have seen things like this with recessions and depressions in the past, right, this is just a whole new level.

This is a whole new level. Go to prepare look at there's like five different arrows were receiving something similar call. Obviously the Great Depression in 1929 the government debt wasn't high and unmanageable them, but the dollar was backed by gold, but the Fed created massive amounts of dollars in 1934 and within the year. The purchasing power of the dollar fell by 70%. So that was that error than the next one was World War II in 1942 the United States declared war of the government that time did going to massive amount of debt.

The fact the highest in our history, not dollar wise on the national debt for percentage of the GDP, but the offender are reneged on the responsibility for monetary policy.

The totally adulterated the other guidelines in the Long-term bonds at 2.5%. The balance sheet of the Fed increased dramatically in the decade later, the dollar lost 28% purchasing power due to devaluation in the 70s was the big inflationary time. That was 78%. The dollar loss in its purchasing power and gold was able to rebought then it rose 959% so that was 24 times more upward than the dollar was doing and that the Dow only rose 9% in that decade, so people say I think a good place to hedge, usually in stocks not historically speaking course the recession of 2008, $3.5 trillion was created in three years were doing all that in six weeks, and more now crazy 5 trillion of that grew grew from the 2008 to 11, but gold was the best hedge then rose 172% in three years. During the same computer time stocks. Only one of 41%. So if you look at today you will.

Gold is already moving up 11%. The Dow is down 1411% about the same as much gold is going up more in the early stages of that is so should get hedged in gold oldest every single time when it was allowed to rebought was a hedge against all this insane. He often seen as the word that's exactly right coming up on a break they've ever targeted David Fisher from Weimar capital landmark gold.com just think that teeter totter if you're on one end and always on the other end. If you're not balancing somebody jumps off you're going down. What is that what happens will be right back in a silver doing a full Fisher from Weimar capital landmark gold.com is their website. Landmark gold.com and were doing it on a Tuesday just because I was on location yesterday so we pushed it to today doing a full day and in this is so important as we are talking about Canada small businesses that that make up the vast majority of what's going on here. Listen as firms with fewer than 100 workers accounted for 98% of all the companies in the and in America okay. Fewer than 100 workers accounted for 90%.

However, 94% of the of the money that the government is giving out to help businesses because of the coronavirus shut down 94% of that is going to firms with over 100 people so this is completely lopsided. It's completely unfair why this is happening. I don't know we'll see.

Because this is it's an election year. So course of members of Congress, especially the liberals and the Democrats a II don't have a problem that they start asking that question. Why are all the big businesses get in so much of this money is mentor for 94% of business to businesses with over 100 people, whereas the vast and overwhelming majority of businesses in America are less than 100 people so this is just mean. It's disgusting. It's a moral and should, quite frankly, should be criminal. I have no idea why this is happening. Why this continues to happen, but like you said in 2008 David six big banks pretty much got all the money in it. Here we are again and you just mention something during the break us our friends on Facebook. Life here with going on during the break. If you're on the radio. You can join us on Facebook pages, the Steve Noble's on Facebook and in it I get. It's rare that I can stumble on my words because I speak for living but when I see this kind of stuff on synagogue.

This is just terrible. It's disgusting. It's more like a set it's a moral should be criminal in and I don't know what drives that. But that's exactly what's happening will not throw another log on the fire. But here's a big one. Remember we talked about two weeks ago on your program Steve that I made the announcement that the Federal Reserve is the spine, corporate bonds Primula yet yet I do remember that. So on March 23 to recall the Federal Reserve stated that it would begin buying both US treasuries and corporate bonds with unlimited funds, Netflix that stop the meltdown in the stock market that they here we are. That's when the announcement May 23. We are now. May 5 did not bought a single corporate bond. The Fed is lying well kind of. Let me tell you the rest of the story. As Paul Harvey would say in the hundred and seven year history of the Fed it is illegal for the Fed to buy corporate bonds so or any of the risky assets that's the guidelines of the Federal Reserve act of 33 expressively short, the Fed did through legislation. They set up a credit facility with the treasury called the corporate credit facility or CCF directly to the shore. Now one is for and buying investment grade corporate bonds and the other is from buying corporate junk bonds memory talking your program in December and January should sometime next year. Towards the end organ of a corporate bond problem. Well we might not have that now because the Fed is going to buy corporate bonds into anything yet, but they're doing it through a slant of the twist of of a sheltie would call the loophole. The law through the treasury. The treasuries actually can apply it physically given the money to do it and this is all the corporations that are could not manage their money. They're going to defunct banking crisis or shooting corporate bond crisis file bankruptcy but instead the Fed said just run announcement on 23 March working to stop that and the market turnaround of the tournament kept going down. Probably Omega actually stop the market ML live in body anything but they're going to they say who knows my question is, is the Fed is light about this. What else are they lying about so and why they going against guidelines in manipulating this and buying companies consider buying corporate bond are in essence indirectly buying the stock and that is totally insufficient guidelines so I know this might sound far stretch to some financial planners or brokers will it when you tie it all together at the bottom line. It affects the balance sheet of the Corporation they are influencing that company and the last time I checked, that was not the bailout companies but that's what they're doing right assist ISO as the whole notion that you hear that oftentimes is used by the left. But other than this time it's absolutely accurate is that the governments picking winners and losers in and they should not be doing that in it but but that's what's going on so you got this whole you know the doldrums when talking about the 3 1/2 years by drain the swamp and we talked about corporate money impacting the governments and special interest in this that the other thing and when used and when you get into a time like this. You see where that's actually true that they're actually taking care of a candidate. I don't know if it scratch my back out scratchers. I don't know what the motivation is behind it. It said obviously seems insidious. I also think it's part of the problem that the whole structure all the debt the whole the whole situation America with our finances as a government and as a nation being built on the sand as opposed to being built on the rock, which is true around the world and they just have to keep propping it up give me up give me another deck of cards I to prop up the deck of cards already put together the house of cards Artie put together and assist a dog chasing its tail. They don't really have a choice they have to prop it up. However, one hour, they can because the alternative simply is unfathomable or my being kind of a catastrophe is to steal a phrase from Glenn Beck. I'm a thinker being a catastrophe as I think you're being a Rulison just describe the monetary system, the monetary system is not backed by gold.

We didn't have any of these problems.

We went through a depression from a depression how we got out of it is. Yeah, they created money, but the endocrine money that was backed by gold Sweden help we can come out of it with government debt. We can come out of it with the Fed balance sheet that was blown Sweden. Have any of those problems back there but once we enter fractional reserve banking system of fiat currency all the problems have been compounding it every time we have recession/or a depression. It just gets more adjusted even more severe and this time that's why many economists who are not playing the I want to be on CNBC and look good and talk about the economy in the in the stock market and announcing their bagels mother says that because there's a handful of pension manager saying you understand they were saying this is going to go down and it did, but there is a group of people saying this is going to be horrendous because this is at the core of the financial system. this time in six central banks are doing the same thing that the fed is doing. maybe not buying corporate bonds but increasing their debt structure. printing money on the thin air and governments are doing the same thing that our country is doing and at some point in time. the last i checked, you cannot get out of debt by creating more debt. at some point it's going to come back to haunt you and many economists are saying this is the big one. this is really the big one this time.

yeah course, i mean you have been people were talking about a recession coming last year. this is all pre-coronavirus and because the fundamentals there there's what's going on with the stock market and there's the fundamentals of the us economy and in the fact that were looking at 30 million added to the unemployment things. i will begin to get the next unemployment numbers by the lake larry kudlow recent was like hey don't be surprised when it's north of 13%. i mean, when we actually hear the winter they can release the official i think for about two weeks away from and stephen will know the exact date but i either agree with you and agree with the kudlow contract. i would east hasn't set a whole lot about a lot of things. i think accurately, recently because he is totally wrong about the market, but recently right but i think his numbers are going to be on the conservative side. we should probably get somewhere around 17% may be as high as that unemployment and keep in mind, you know, this is approaching depression levels, which is 24.9% was the unemployed right that which took which took a couple years to get to it. in this case were doing it in a couple of months of suspicious shouting so eye-opening and heartbreaking and by the way everybody at turner we need. this is when another one of the aspect of praying for those in authority over us.

i mentioned that when i pray on facebook live. after the show that that were praying for leadership, not just in government but in banking and science and medical we need to pray for leaders across the board because all these problems are way too big for any regular human without the assistance of god you to still have that kind of wisdom last week you said we talked about this last week, which is really shocking where the where that were the they took the note that they said basically it in some point in march and i can't believe this did become a huge issue in the media, but that the that the feds basely said okay and still have to have any reserves remind us what the reserves are then we'll talk about the ramifications of them of reversing their position from 2008 when they said okay you guys could have a lot more reserves, but what are reserves for banks and then let's talk about the implications of the fencing. you don't need those anymore.

it was announced on march 15 this year and implement on the 26th of this year march, so a reserve is just like when they create a loan they create liability for themselves. so without loan defaults to have service alone so they can have cash reserves on hand. what happened in 2008. is there was not enough cash reserves for the assets that they had created. it is through the derivative market or through loans and bear stearns went under in next day lehman brothers was affected and it almost collapsed so their stock collapsed and the company collapsed bilingual out of business like bear stearns lynches donald for their so what has happened as a result of that, the government's list pass a law called the don frank act in one of those things was too big to fail you. thanks. need to have money to fall back on reserves in case there's a downturn in the economy at janelle. what a concept get you and i have a checking account or savings account. you know, was a slush fund. call it what you want all those just in case something we need to pay for something they don't have the money is not a plan for matilda thought ray character coming up on the break david or talking to david fisher from mr m markel.com this is steve noble and a full money monday i will be right back. at this couple, more important things will be right that was just talking to our friend david fisher today from lamar m. mark., we were just talking about something that david brought up last week which happened on march 15, which remarkably didn't get a lot of press was the feds all of a sudden saying okay by the way, but banks don't have to have any reserves yet that you don't have anything 00 reserves all the money up but not all the loans. anything else you don't have to have any reserves that would be like him to sell your house what you want one of $5000 house. okay, i guess you don't have to have any collateral.

nothing. this is not the not that anything underneath that. not that any collateral would just gonna let you do it. don't worry about it. there's no there's no income requirements, knock yourself out.

i mean it's crazy what's going on but again we were just talking about this during the break on facebook live.

i think our country is in a situation now or just has to continue to bail water and bail water and do anything it can possibly do to keep the whole thing afloat because the alternative is simply unfathomable.

so that's why they're willing trillion 2 trillion 3 trillion 4 trillion 5 trillion, whatever it takes and i got people members of congress.

i think we should get people to thousand dollars a month for the next six months and given the fact that you said that 94% of these cortical small business loans are actually going to businesses with over 100 employees which make up about 2% of all the businesses in the country. the overwhelming majority of businesses in america are small businesses less than hundred people, but most of those are not getting those loans.

thus, the monies going to the big businesses again, which sounds like a democrat talking point.

but that's exactly what's going on and it's unconscionable.

i don't know, but we'll see what congress has to say about it.

i would like this to see donald trump step up to the plate say hold on a second. what what's going on here in and take off her all these stick up for all these little businesses out there that just aren't getting up at the fact that the feds at the instance would say to the banks. you don't have to have any reserves is just is just mind-boggling. you know within a day after that was announced by the fed not helping banks not have to having any money on account think about that. that's the very reason why we want a couple reasons why they create the dodd frank act to make sure banks will get into trouble again right have to have reserves on the Valley took away all that insurance which is called reserves the day after that, the fdic chairman julian mcwilliams came out and intuitive video plea to keep your money in the bank so obviously the head of the fdic, the chairman was concerned so much that they want to let make sure people would not see here about this message that the fed announced and they went run to the bank and get all the money on the bank so list connect the dots. obviously if the bank doesn't have any money to fall back on corporations don't have the money. otherwise why the fed buying them. there must be a limited money to fall back on. we know the government can fall back on money because look at their debt structure. this is all the set up for the baylor. this is where this is going on. like i said before, stephen, you know, two weeks ago i said this, i'm even more so passionate this time. i've never seen this this close to building this tells us there's not a lot of money out there behind all this and how do you get your money safe well on shared with you every single time we been in recession. gold is the asset you want to have some representation never should put all your money in the gold you and how all your money and in cash in the bank when hello your money in stocks certainly shouldn't put all your money in gold but i can say this if we had towards another 2008 and i'll think were out of the woods at all because the unemployment numbers are gonna cause the market to maybe connect more with main street. not differential between wall street because corporations go up in stocks go up in value when they make money if the consumer is not buying anymore. it's going up on perception and there, then you're buying an overvalued stock so the bailing that we've never been this close to the sacristy. suffering may be the day after the collapse happened in 2000, april wouldn't have baylor laws back them so we have it now, and this is why advocate get some money outside the system in a tangible, cold, cold wire in reasonable market for probably 10 years. the last 9 to 12 we started the year and 1/2 years ago and it's not a get-rich-quick scheme. it's not a money making scheme for the most part although it's done that at different times, but the index of goldfish has performed phenomenal and different gold markets perform at different levels, but the key thing is you know this why you get educated you work with somebody that's going to give your choicest which is what we do here. the landmark capital and people are smart enough to make their own choice what they want to invest anything want to invest in gold but were headed toward some problems and it makes sense to have some money in gold right now yeah just to gonna get it out of the storm of everything is right right now units a lot of stockbrokers are dead.

they don't want to deal with cash and want to encash a goal because they're not making any money on that. of course that they have a right to make money as well.

but you have to understand who's advocating for why when it comes to the management of your money and your retirement accounts and have to how do people make money always need to ask those kinds of questions and then again when you've got certain amount in stocks and he got neutral funds got things in it in your home you got real estate and encash and then precious metals.

another part at rates okay ii guy gotta manage all these different factors here, so i'd i don't want to have everything exposed all the same time and when the markets going and a great direction. that's, that's wonderful.

we love that. but when it's correcting what is going down.

will we run into uncertain times like this is where okay what's what's the ballast what's gonna need that sailboat when i got my sales appear what's underneath the sailboat kinda keeping it from completely rolling over and and again that the work that sits in a bounce ham and up by gold and then sell it in a couple of months because it's going up right now that the especially to talk about gold coins and holding on the gold physically, that's a different that's a different tool than what people are talking about like buying and selling stocks in the wind like daytrading stuff like that but it's very different thing.

but it takes a while to get educated on it doesn't, yes you, and we believe in education not iago or thing called three columns and i say statement that most people will learn and no more than 95% of people are either boggled or wanting to buy gold after you having this interactive conversation and you have been told many times that i was writing that statement and suddenly felt very comfortable about what is product is best for them and they choose, you know, when you look at this in 2008 steve fitch rating agency warned of record loan defaults and we had record loan defaults in 2008, fitch just warned again of record loan default – so much that j.p. morgan stopped creating loans.

they stop their issuance of loans sorted which either citigroup or city, stop issuing loans so that should tell us something is up in the department yet you hire that somewhere else recently religiously okay were not doing loans right now.

i don't member where that was.

but i heard that and i'm still allied.

i don't recall ever hearing that when i was in the same year were just all you know it was it was that was wells fargo say were not doing any hot new home equity loan not doing any home equity lines. no new ones because of the uncertainty.

so a lot of the heloc industry, home equity loans are not being issued right now because that's the second on a home and increase a challenge of the loan being repaid. so this is were headed towards the direction of foreign health loan defaults and there is no cash on banks to shore up the good of what will happen after that and that's why i'm saying the bailing.

this is here on this world that the customer's of it.

the threshold of it and that's why you know, the bailing is something's happened nine times over nine years ago and it's something real that we set up in our country we have a white paper on it. we encourage you to call her company or go online and request that so you can get some education because education is all action, people perish for lack of knowledge was and then on the i know you have a youtube channel.

now, do you have some of this information on the youtube channel. you not up either today or tomorrow i'm going to record a bin we been working from home so we have been recording a medium of it were back in the office now. first day back in the office from the being safe from the coronavirus and the cobra 19 but i will record either to parchment a two-part series record either today or tomorrow probably tomorrow on the bail and so should be above the latter part of this week early next week after we do the editing on good yet so if you just go to a youtube you put in landmark capital landmark capital in the search box. you'll find it that they are and then the the white papers.

the general information all that kind of stuff is available at the website landmark old guy, people could just call and if they want to do something old-fashioned be a little nostalgic. what's the phone number that they would call we can call 844-879-8882 ia 448-7988 82 or landmark gold.com and i just to remind everybody in oven on facebook live or cannot we always pray at the end of the show, but in this case david on it. we got about two minutes left for a run at time i wanted that that's a spray on live radiologist pray across platforms for afar leaders and for our nation because that we need to be on the on the front edge of that is people that speak out publicly that that we can complain about the government. we can talk about what we can do in the natural in there where we should put our money, but ultimately for not praying were not operating with any power at all.

so would you. we have about a minute and 1/2 left a jesus lead us in prayer will finish the show. that way today have become intimately heavenly father we come before you with humility. we thank you for your grace in your shed blood of your son jesus christ on the cross, lord, we ask you to come and heal our land will return as the scripture says return from our wicked ways and we repent we say lord be lord of all god give our president wisdom and knowledge on comprehension. we speak life into our country. we pray that you would bring about a miracle or a financial miracle and help us get our house in order give us a master plan help the federal reserve help the treasury help our president, our leaders so that we would not go down this road of debt and it would strangle us into oblivion or so.

we pray that you would give us insight personally that we would heal our own personal and in our countries land that truly one nation under god the praise. things the outcome. thank you lord for salvation for men. i think i appreciate that let you go. really appreciate your time today and thanks for helping us understand it. i mean i wish there were some nicer things we had to talk about this is what's happening and we need to keep discussing it. david fisher from landmark capital. thank you god bless you. i appreciate that. thanks for praying with us today right now. thanks. will talk you soon. landmark gold.com is the website landmark gold tachometer phone number 844-879-8882.

this is steve noble to steve noble shows god willing i'll talk you can always


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