Tuesday Evening News with MarkZ
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Ge Everyone. Looks like another day of run silent run deep........I believe silence is a good sign
Member: my Chase Bank closed it's doors the past few days with new signs on the doors "JP Morgan Wealth Management"
MZ: I have been getting calls and messages all afternoon about chase banks from you all….about systems being down, remodelings , closing branches, adding virtual branches…..all kinds of craziness. Rumors are flying and its very interesting whats happening at Chase as they prepare for the brand new system.
MZ: The official story is they are simply downsizing banking. More and more people are going electronic….they are automating as much as they can to save on labor.
MZ: The unofficial story is a number of employees are telling folks they were told to expect a lot of new wealthy customers. We are gearing toward wealth management.
Member: Chase just built a brand new branch near me in N.Miss and its not open yet ! Right off the expressway a major one !
Member: My neighbor went to chase bank today and his account was frozen, tell told him they are working in the system.
MZ: WE did get some interesting news on what to expect over the next couple of days.
Member: From Dinar Guru: Mnt Goat On Thursday, the Central Bank of Iraq issued instructions to all licensed banks and non-bank financial institutions not to deal in dollars with 14 of the Iraqi banks. I can see that if these illegal dollar cash transactions continue the CBI will close down these banks. It’s coming and this will help tremendously in bringing down and keeping down the value of the dollar against the dinar. This may be the last step in the banking sector that needs to be addressed. The diversification of banking practices to make profits with products outside of currency exchange spreads, will come naturally once the free market economy kicks in. The 3 year budget is now open and the money is being dispersed to the districts for projects.
MZ: Fits pretty close to what we hear.
Member: I THINK IF THEY PUT THE RATE UP IT WOULD CRUSH THE DOLLARS IN IRAQ... WAITING FOR CBI
MZ: “ The Federal Reserve expected to raise interest rates by another 25 Bps” This is on Thursday
Member: Basil 3 into full effect 7/27. May cause many banks to have to close
Member: I keep hearing stuff on the 27th. Bo Polny said we're in a window between now and the 9th of August. Let's hope something happens
Member: FedNow, instant payment system [quantum] is in place to handle the largest wealth transfer in human history.
MZ: “Hidden feature in Brazil’s CBDC allows government to freeze funds” This is disturbing. This is a big concern with CBDC’s. That the government would have control over the funds of private citizens.
Member: Wells Fargo asked me today if I want to sign up for the new digital wallet. I said no thank you. I'll wait for the quantum system.
Member: 3 times per week I get an email from CHASE inviting me to join their Wealth Management program.
Member: I got a call out of the blue from Chase informing me I now have a personal financial advisor. When I asked about the qfs I got the deer in 5he headlight look...
Member: my Hancock bank branch is moving across the street to a new building and noticed they are calling themselves a financial center not bank!!!!
Member: My BofA branch was completely remodeled and added 9 cubicles
Member: I’m at Chase Bank right now and apparently there’s a “glitch” in the system and people are having problems pulling their money out and making minor transactions
Member: Favorite bank teller smiled and winked today when I asked her about the RV
Member: my credit union has built 2 new branch offices in the last year. Both have ATM stations inside and out. No tellers. plus the manager told me last week she is under a FCUA , their NDA.
Member: If all of the banks are getting so many wealth managers, does that not tell us something, because right now there are more poor people than wealthy.
Member: Been doing some research on the QFS…and discovered the quantum computer technology necessary for launch are still being developed and would be several years before its ready to function.
MZ: its way beyond that and being used day to day as we speak. They are getting it to work with the legacy banks (older banks)
Member: Still looking forward to Christmas in July
Member: Thanks Mark and mods…everyone enjoy the rest of your evening
Member: Emerse yourself in the feeling that comes with the wish fulfilled...gratitude...
Markz will be on rumble on SATURDAYS ONLY so he can speak his mind. You will find him on YouTube during the week.
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