Stop me if you’ve heard this one before…
A major bank in the United States is down, and customers have no access to their funds.
It’s not just a temporary glitch either, it’s been ongoing all day long and still not fixed as of press time for this article.
Take a look:
Thousands of Bank of America customers are facing widespread outages, with many locked out of their accounts.
Those who manage to log in are shocked to find their balances at zero, though their debts remain visible.
Bank of America's customer support has acknowledged the… pic.twitter.com/TReJTgMxvy
— Shadow of Ezra (@ShadowofEzra) October 2, 2024
Over 17,000 reported outages:
BREAKING: Bank of America Outages Nationwide as more than 17,000 reported outages and users report they cannot access funds, or their accounts are ZEROED out…
Lovely..
— Matt Couch (@RealMattCouch) October 2, 2024
Most people simply see $0 balances:
Bank of America customers are currently crying out as their accounts are unexpectedly showing $0 balances 👀 pic.twitter.com/wgKybLTrXj
— FearBuck (@FearedBuck) October 2, 2024
Folks, I’ve told you for a long time to GET YOUR MONEY OUT OF THE BANKS!
Why?
Because your “money” is nothing more than digits in a computer that they can make vanish with a click of a keyboard!
Also, legally you are not a “depositor” with these banks, did you know that?
You’re a lender!
And when the bank goes under, they say “Sorry! We don’t have any money to pay back our lenders, thanks for playing!”
Yes, so far the FDIC has backstopped every failing back.
And yes, Bank of America will likely come back online at some point.
But one day the music will stop.
One day we will face massive bank runs that the FDIC won’t be able to cover.
I don’t want you to get hurt when that day comes!
Here are more details from the NY Post:
More than 20,000 Bank of America customers on Wednesday reported issues accessing their account information, according to a site that reports on service outages in real time.
Reports of service issues spiked around 12:45 p.m., according to DownDetector.com.
Most customers reported having issues with their mobile banking accounts.
Bank of America did not immediately respond to requests for comment.
Users reported being unable to transfer money between accounts or seeing an inaccurate balance of zero on their accounts via the banking app.
ADVERTISEMENTOther customers said the ATMs would not show their account balance, but they were still able to withdraw cash.
This comes on the heels of the massive Verizon outage that occurred yesterday and for many people is still not fully fixed:
Verizon Suffers Major Outages On East Coast And Other Parts Of US
We had the very same thing happen to the largest UK bank back in December:
Leading UK Bank, MetroBank, Down For Over 8 Hours And Counting…
And the same thing happened to Wells Fargo back in August:
BREAKING: Customers Report Bank Deposits “Missing” From Many Wells Fargo Accounts
And don't forget just a few weeks ago when we told you Warren Buffett sold over $1 billion of stock in....Bank of America!
Folks, it's becoming so obvious we can predict these things now!
We warned you:
INSIDER'S SELLING (Part 6): Warren Buffett DUMPS Almost $1 BILLION of Stock, Stock Market Crash Incoming?
Heads up....the "Oracle of Omaha" just sold almost $1 billion of Bank of America stock.
Now I'm not a financial expert or anything, but Warren Buffett is and do you generally BUY or SELL when you think the market is at a top and might soon crash?
Right.
As I always say, don't listen to what they tell you, watch what they DO!
That's why I've been bringing you my "Insider's Selling" series, which is now up to Part 6.
Here was Part 5 from last week:
Today it's Warren Buffett casually cashing out of nearly a BILLION worth of Bank of America stock.
Take a look:
JUST IN: 🇺🇸 Warren Buffett sold another $981 MILLION shares of Bank of America.
‼️Buffett now holds $278 Billion in CASH and selling stocks like never before, including Apple.
He's getting ready for a crash... pic.twitter.com/XUkxj3whAd
— Radar🚨 (@RadarHits) August 28, 2024
That brings his "cash hoard" up to $278 billion in liquid cash:
🇺🇸 Warren Buffett just sold $981M shares of Bank of America and now holds $278 Billion in CASH.
He should convert it into #Bitcoin 👀 pic.twitter.com/GsZ83fGd1U
— Vivek⚡️ (@Vivek4real_) August 28, 2024
The last time he had such a large cash reserve was heading in to the 2008/09 stock market crash, where Buffett famously bailed out the US Government and Goldman Sachs.
Remember that?
ZeroHedge had more details:
Warren Buffett's ongoing liquidation of his Bank of America stake comes right before the Federal Reserve's expected start of the interest rate-cutting cycle in mid-September. Additionally, Buffett has halved his Apple holdings and amassed a record amount of cash. At 93, it seems the billionaire investor is bracing for a rough patch in the US economy.
Buffett's Berkshire Hathaway has been on a six-week selling spree of Bank of America shares, trimming its entire position by nearly 13% and generating upwards of $5.4 billion in proceeds, according to Bloomberg. Berkshire's latest filing shows that since last Monday, another $982 million worth of shares were sold.
Bloomberg data shows Berkshire has dumped more than 129 million BofA shares in the last six weeks.
Berkshire remains the bank's largest stockholder, with 903.8 million shares, worth about $36 billion, as of Tuesday's closing price. However, the position's size has fallen to early 2019 levels.
Berkshire's selling was abrupt and without reason. The wave of selling began in mid-July around and above the $40 handle.
In addition to the BofA selling, Berkshire dumped half its Apple shares and other securities, sending its cash pile soaring by a record $88 billion to an all-time high of $277 billion at the end of the second quarter.
RELATED REPORT -- we've seen this movie before:
The Warren Buffett Indicator? Cash Hoard PERFECTLY PREDICTS Stock Market Crash?
This is really interesting....
We all know the "Oracle of Omaha" is a rare unicorn in the investing world.
Perhaps originally a man who outsmarted Wall Street, he is also famous (or infamous) for getting sweetheart deals during the 2008 Stock Market Crash.
Remember that?
He coughed up a few billion to bail out some "too big to fail banks" and in return basically received a guarantee of his "investment" from the Federal Government.
If you or I had done that, they might just call it insider trading, but for Uncle Warren it was deemed "patriotic".
But that's not the main focus of this article.
The main focus is something I'm now calling the "Warren Buffett Indicator".
This short video below explains it in video format, but basically as Warren Buffett's cash hoard grows, it almost always seems to top out right before a huge stock market crash hits....
And guess who's there to scoop up all the great assets for pennies on the dollar?
Uncle Warren.
Look, I'm not suggesting he's doing anything wrong, not at all.
Perhaps he's just really, really smart and really, really patient and disciplined.
More power to him.
But the indicator appears to be dead on.
Take a look:
WARREN BUFFET’S CASH POSITION OVER TIME
ONE THING THAT STANDS OUT IS RIGHT BEFORE A STOCK MARKET CRASH HIS CASH POSITION BALLOONS LOOK AT 1999 , 2007 AND 2019pic.twitter.com/a0Zk0ZEJrZ
— GURGAVIN (@gurgavin) November 9, 2023
The scariest part is right at the end....
Look at this:
When people keep telling you the next crash is going to be much worse than the 2008 crash (which for most of us was by far the biggest of our lifetimes), this is what they mean...
Look how his cash hoard dwarfs 2008.
The size and scope of what is coming is going to dwarf anything you've seen before.
It has to, the amount of money printed since then is astronomical.
It's what Bo Polny told my on my show earlier this week....
Look at this chart and the chart above and tell me if they don't look extremely similar:
It's all connected to 1971 when they removed us from the Gold Standard.....
And the years that followed when they printed magic money to infinity and the money machine went BRRRRRRRRR on overdrive!
You know how growing up your parents would say money doesn't grow on trees?
To these people it does!
It grows on printers, they just turn on the printer and out spits new money.....as much as they want!
Now it's just extra zeroes in a computer program, but it used to be actual printing of greenbacks.
Same difference.
Speaking of, have you seen this?
Do you know what happens if we suddenly shocked the world and went BACK to a Gold Standard?
This:
“Gold Revaluation” Incoming? Price Could Be $10,000-60,000 Per Ounce!
Make sure you read that.
Bookmark it, print it out, save it and study it, because it could be life-changing very soon.
Or life "saving".
Got Gold?
Got Silver?
Got XRP?
Got Bitcoin?
As always, I'm not a financial advisors, but I sleep a WHOLE lot better at night holding Gold, Silver and Crypto.....
Speaking of gold, have you seen this?
https://wltreport.com/2023/10/15/gold-now-classified-as-tier-1-risk-free/
Ok, Bo's links above will get you all set for crypto!
You're in good hands there.
But what about Gold and Silver?
If you want Gold and Silver, I have you covered there too.
Keep reading for the hookup...including for a way to get GOLD without paying anything out of pocket! Yes, really!
But first, here's the most important part you have to understand -- make sure you get PHYSICAL gold and silver.
Not paper traded garbage on the stock exchanges that isn't backed by anything.
Don't touch that stuff.
I have two special hook-ups for you.
Both involve PHYSICAL gold and silver.
Because if you do NOTHING else, make sure you own "physical" gold and silver, not paper contracts.
The paper contracts (like stock ticker SLV and GLD) could very well go POOF one day and disappear or go to zero, because they're not actually backed by the gold and silver they claim to represent.
It's a massive game of musical chairs out there and when the music stops (and I think it will stop soon...) people who only own paper might find themselves owning something not worth the paper it's literally written on.
Now...WHERE do you get physical gold and silver and how do you know it's real and safe?
And that you're getting the best price?
Oh, and how about personal one-on-one real customer service?
You know, like you were some Big Wig millionaire at Goldman Sachs who could just call their personal banker and get help?
That's what I'm about to tell you.
I have two killer connections for you...
The first is for purchasing gold and silver bullion.
That means bulk bars.
That's the cheapest and most economical way to do it, to stretch your dollar into as much gold and silver as possible.
The website is called WLT Precious Metals and when you see my logo in the top left-hand corner, you'll know you're in the right place.
You'll get a personal phone call with Ira Bershatsky (or someone on his team) and they will work with you free of charge for as long as needed to answer any questions you have and get you taken care of.
How about that!
You don't see that much anymore, but Ira and his team pride themselves on good old-fashioned real customers service:
No sales pitch, just real, actual help.
And the best prices you will find.
Here's the only disclaimer I will give you: because they do pride themselves on dedicated service, it might take a few days before you get a phone call back. Just be patient.
Good things come to those who wait!
You can contact Ira and WLT Precious Metals here.
Ok, that was #1.
Now I want to tell you about option #2.
An equally great company, I am so happy to be working with these guys.
This next company is called Genesis Gold and this is for people who want to purchase real physical gold or silver in their IRAs (Investment Retirement Accounts).
You know what the beauty of that is?
TAX FREE baby!
I'm not a tax advisor, but that's a general oversimplification.
Never pay more taxes than you are legally required to pay.
And that's why I love getting gold and silver in my IRA (and why I hold a large chunk in an IRA myself!).
There's so much to love about Genesis Gold, starting with the fact they are proudly and un-ashamedly Christina!
They call it "Faith-Driven Stewardship" and they put it right on the homepage of their website along with a quote from Ezekiel:
Wealth Preservation With Gold & Silver –
The Genesis Gold IRABy your wisdom and your understanding you have made wealth for yourself, and have gathered Gold and Silver into your treasuries – EZEKIEL 28:4
Genesis Gold Group believes the Bible gives clues on how man-made currencies (paper money) represent instability, and a lack of virtue and encourages living wastefully in excess.
Conflicts have beleaguered us since the dawn of civilization, and they can all be encapsulated into one battle. The battle is between currency, man-made paper, and gold and silver — the two precious metals found in our Earth’s crust, sent to us by our Lord to use as money. Man-made currency always leads nations down the path to increased war, greed, and ultimate collapse. History has shown that abandoning gold and silver has always been a bad idea. Gold and Silver enforce discipline, nurture self-constraint, self-reliance, and balance, and lead to confidence, a restrained government, and a more stable foreign policy.
Genesis Gold Group believes in empowering faith-driven stewardship with Gold & Silver are an integral part of a balanced portfolio. Protecting your finances with precious metals has never been more crucial during these trying times.
With a combined 50-plus years in the precious metals industry, let your Genesis gold and silver experts guide you through the simplicity of asset protection and growth with our Genesis Gold IRA.
Sincerely,
Empowering Faith-Driven Stewardship
Oh....and they're VERY good at what they do.
You also get physical gold and silver with Genesis, believe it or not! The gold and silver is purchased for you (in whatever combination of coins and bars you prefer, a picture taken and sent to you, and then stored safely in a vault for you!
I love what these guys are doing.
Here's more on why gold and silver in your IRA are so powerful:
You can contact Genesis Gold here.
They are also very backed up with record demand, so you may have to wait a bit, but someone WILL get in touch with you for personal customer service and assistance!
Tell 'em Noah sent ya!
Oh, and did you know Genesis is recommended by SUPERMAN himself?
It's true.
Superman himself, Clark Kent -- Dean Cain -- came on my show a few weeks ago and we broke it all down:
Watch here:
Stay safe!
Make sure you can weather the storm when it hits!
Because the storm always hits eventually, doesn't it?
As for me and my house, we will be ready. 💪
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