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Top Three Videos – August 28, 2023

As Yields Rise, Is This A Bad Time To Buy Bonds? Or One The Best? | Adam Taggart & New Harbor

Wealthion

Quick Summary Bullets:

Investment Strategies and Risk Management

  • Despite the steepening effect and overinflated valuations in the stock market, the bond market tends to do very well in the short term, making longer-term treasury bonds a sound risk-reward investment.
  • The narrative around a potential recession has shifted from concern to optimism, with some suggesting that the recession indicator may no longer matter.
  • “When the recession arrives, people have made themselves vulnerable to the damage that the recession can cause to their portfolio.”
  • “Take a chunk of that cash, put it in US treasuries up to two years…you can get 5.2% and sit back and take a vacation, don’t sit in cash earning zero.”
  • Danielle believes that the Fed will likely have to start cutting rates again within the next 6 to 12 months, leading to higher bond prices and making longer duration bonds an attractive investment.
  • Implementing options strategies in a portfolio requires understanding and experience, so it’s advisable to consult with a knowledgeable financial adviser.
  • When facing significant losses, such as a 50% loss, a 100% return is required to break even, emphasizing the impact of compounding and the difficulty of recovering from substantial investment downturns.
  • “There’s a lot of credible data that suggests we have a turbulent period lying ahead of us, so avoiding losses should be a higher priority than reaching for gains.”
  • “You can sit in safety and get paid a decent return on it. Insurance is still relatively cheap so you can buy some cheap insurance on your portfolio.”
  • “We think this is one of the most challenging and treacherous times in history for investing.”

Retirement Planning and Financial Advice

  • “I haven’t saved up as much as I’d like to yet. But I really need to get going how can you guys help me?” – Many individuals in their 40s or 50s are concerned about their lack of savings and are seeking assistance to start investing.
  • “There’s just no downside to meeting with your advisor, getting a personal financial plan created, and doing projections to increase the probability of hitting retirement goals.”
  • “If you’ve got one who’s doing that for you putting together a personalized portfolio plan and then executing it executing it for you great stick with them.”
  • “There’s no commitment to work with these guys. It’s just a free public service that they offer to the public to help people position as prudently as possible for a lot of those events that we talked about that might be headed in our future.” – This service provides free guidance to help individuals make informed investment decisions.

Impact of Federal Reserve and Yield Curve

  • The Federal Reserve’s actions primarily impact short-term interest rates, while longer-term treasury bonds are less directly affected, as evidenced by the yield curve inversion.
  • “We think the more likely path over the near term here is even if we do move higher in yields, we think and we agree with many of the guests you’ve had.”
  • The inverted yield curve has historically preceded recessions and major stock market tops, indicating a potential recessionary phase in the near future.

Transcript Summary:

  • 00:00 Despite rising bond yields and concerns in the market, it may still be a good time to buy bonds as the longer-term outlook remains uncertain and there is potential for a bounce, as discussed in a recent Q&A session with financial advisers.
    • The speaker discusses the potential downside risk and selling off of treasury bonds in the near-term, but also mentions the possibility of a bounce and the uncertain longer-term outlook, recommending viewers to watch a recent Q&A session with financial advisers for more insights.
    • Bond yields have been rising, causing concerns in the market, but the speaker questions the sudden shift in narrative and wonders if it is just a temporary emotional reaction, while also discussing the potential impact on their own investment in long-dated US treasuries.
    • The Federal Reserve’s actions regarding interest rates primarily impact short-term rates, while longer-term rates, such as those for treasury bonds, are less directly affected, as evidenced by the yield curve inversion.
    • Factors such as quantitative tightening, changes in Japanese yield curve control, currency and liquidity moves, and increased treasury issuance have contributed to the recent rise in long-term bond yields.
    • Long-term treasury bond rates have been fluctuating but could potentially reach four and a half or even five percent, and despite the possibility of higher yields, the speaker agrees with previous guests that it may still be a good time to buy bonds.
    • The speaker discusses the relationship between the spread of 10-year and 3-month treasuries and the occurrence of recessions and stock market tops, showing that an inversion of the curve has historically preceded these events.
  • 08:09 Despite the challenging bond market ahead, rising longer-term rates make it a good time to buy longer-term treasury bonds due to their sound risk-reward profile, although there is still some downside risk.
    • The steepening effect in the bond market, caused by rising longer-term rates relative to short-term rates, historically indicates a bad time for the stock market but a good time to buy longer-term treasury bonds due to their sound risk-reward profile, although there is still some downside risk.
    • The recent rise in yields for treasury bonds suggests a challenging bond market ahead, particularly in developed markets, while emerging markets have experienced a more muted increase in interest rates.
    • Inverted yield curves have a strong track record of predicting recessions, but a professor warns that the longer we go without a recession after an inversion, the more people start to doubt the indicator.
    • The inverted yield curve indicator that was previously causing concern for a recession has now been dismissed, but according to Harvey, there is a delay between the curve inverting and the recession occurring.
    • People tend to become complacent and hopeful before a recession, leading them to take on more risk and potentially causing damage to their portfolio when the recession arrives.
  • 13:32 Rising yields on long-dated bonds could cause panic among investors, leading to higher costs of capital, while tech stocks may be negatively impacted but positive narratives can temporarily counteract this, and Japan’s decision to increase the yield on their government bonds has made them more attractive compared to US treasuries.
    • The bond market, not the Federal Reserve, determines yields, and there is a risk of rising yields on the long end, causing panic among investors.
    • If the yield curve un-inverts due to the Fed lowering rates, long-dated bonds would increase in price and all asset prices would eventually rise, but if the Fed keeps rates high and the bond market rises to meet it, it would be a painful and unfamiliar situation for bonds and would also result in higher costs of capital for everyone.
    • Tech stocks, which have been the main source of gains in the stock market, are like long duration bonds and should be negatively impacted by rising yields, but positive narratives and beliefs can temporarily counteract this.
    • Nvidia’s stock valuation is puzzling, and the impact of Japan’s yield control efforts on US yields and the Federal Reserve’s buying or selling of bonds could influence longer-term yields in opposite directions.
    • Japan’s decision to increase the yield on their government bonds has made them more attractive compared to US treasuries, leading to a migration of money from treasuries to Japanese bonds.
    • The speaker discusses the complexity of the interconnected financial system and mentions a recent conversation with Danielle D Martino Booth about her outlook on bonds.
  • 19:53 It may not be the best time to buy bonds due to rising yields and destabilizing events, but there are potential positive factors that could cause bonds to rally in the future, and investors can currently earn nearly 4% in current income while waiting.
    • A recession is predicted to be almost unavoidable in the near future due to various factors discussed in the video.
    • Long-term bond investors are becoming less excited due to destabilizing events such as rising oil prices, changes in the Bank of Japan’s policies, US credit rating downgrades, and increased US Treasury borrowing, leading to a higher yield and the expectation that yields will continue to rise in the future.
    • Bonds have experienced a significant selloff, but there are potential positive factors such as an inversion of the yield curve or a market downturn that could cause bonds to rally in the next year to two, and investors can currently earn nearly 4% in current income while waiting.
    • The speaker believes that the current economic situation is the closest to a recession since 2008-2009, and while the Fed may try to implement zero interest rate policy and quantitative easing, it is unlikely to prevent a market collapse, especially considering the excessive consumer spending and involvement in the options market.
    • Direct money into people’s hands from fiscal stimulus and programs like the Paycheck Protection Program and Employee Retention Credit has had a positive impact on the economy, but as these programs end and inflation decreases, it may be a good time to sit on the sidelines and invest in safe instruments like t-bills or money market funds.
    • Consider buying US treasuries with yields of 5.2% for up to two years and reducing equity exposure due to overvaluation, while waiting for a potential market pullback at around 4,200 on the S&P.
  • 29:50 Investors can take advantage of potential rate cuts and market opportunities by positioning themselves in longer duration bonds or short-term assets, and using options as hedging or income producing instruments, such as covered call writing and buying put options, to generate premiums and neutralize downside risk in a portfolio.
    • Investors can position themselves in longer duration bonds or short-term assets to take advantage of potential rate cuts and market opportunities, according to Danielle and Imran.
    • The option market provides intelligence on investor sentiment, and currently there is a lack of fear in the markets, making it a good time to buy cheap downside protection insurance using puts on the S&P.
    • The speaker discusses the use of options as hedging or income producing instruments, such as covered call writing and buying put options, to take advantage of market dynamics and generate premiums for buying put options.
    • Put options have become more expensive due to the rise in the VIX, but implementing a hedging strategy with call and put options can effectively neutralize downside risk in a portfolio, and it is recommended to consult with a financial adviser who understands these strategies to take advantage of low insurance options.
    • The average American between the ages of 50 and 59 has a small amount of money saved for retirement, with most people having less than a third of that amount, making it difficult to finance a retirement from their mid-60s to the end of their life.
    • Discussing strategies for individuals in their 40s or 50s who haven’t saved enough and need help getting started.
  • 40:12 Financial planners emphasize the importance of having a retirement plan and finding tranquility despite inflation and lifespan uncertainty, with Social Security likely to be a main component of income for individuals in their 50s, and exploring living in cheaper countries can provide a better financial future.
    • Financial planners often have conversations with clients about retirement and the worry of not having enough money, but it is important to have a plan and find tranquility in it, despite the uncertainty of inflation and lifespan.
    • For individuals in their 50s with a median income of $57,000, Social Security is likely to be a main component of their guaranteed income, and even if means testing is implemented, they are unlikely to be excluded from it.
    • The speaker predicts that the treasury and the FED will print money to support rising yields, and emphasizes the importance of Social Security and projecting future income based on current assets.
    • Maximize earnings, save efficiently, consider retirement options, and explore living in different parts of the world for a better financial future.
    • There are several countries, particularly in Central and South America, where one can live on Social Security alone, even if they have nothing else, as long as they are willing to make some adjustments and live in a less expensive location.
    • Creative thinking and changing facts can lead to a different outlook on retirement, as exemplified by the speaker’s experience visiting Colombia.
  • 45:40 It is crucial to have a financial plan and avoid big losses in investments, especially in a market cycle with extreme valuations, and now is a relatively safe time to buy bonds and invest cautiously.
    • Don’t avoid planning for retirement and taking action, as even if you’re behind, having a financial plan and avoiding big losses is crucial for success.
    • Losses in investments can be detrimental, as the greater the loss, the higher the subsequent gain needed to break even, making it crucial to keep losses small, especially in a market cycle with extreme valuations.
    • Avoid taking on aggressive risks and reaching for gains in the current market conditions, as there is a high likelihood of a turbulent period ahead and avoiding losses should be a higher priority for building wealth over time.
    • Given the current risks and uncertainties, it is a relatively safe time to buy bonds and invest cautiously, as there are now more options available to navigate the market and protect portfolios.
    • The video features various speakers discussing topics such as interest rates, the housing market, inflation and deflation, geopolitical trends, and the outlook for the bond market, with opportunities in nuclear energy also being explored.
    • Get the best price for the conference by signing up now and using the discount code if you’re an alumnus.
  • 53:29 It is a dangerous time in the market, so it is recommended to work with a professional financial adviser and keep a good portion of your assets on the sidelines.
    • Consider working with a professional financial adviser who takes into account macro risks and can help create a personalized portfolio plan, but if you don’t have one or want a second opinion, you can schedule a free consultation with one of the endorsed financial advisers at wealth.on.com.
    • The speaker thanks the viewers and offers no additional advice.
    • It is a dangerous time in the market, with mixed signals, so it is recommended to play it safe, take a break, and keep a good portion of your assets on the sidelines.
    • Investors should work with a conscientious professional financial adviser who understands the risks in today’s challenging and treacherous investment environment.
    • If you need financial advice and don’t have a trusted advisor, consider contacting New Harbor, who can work with US citizens and green card holders but not non-US clients, and visit wealthon.com for a free consultation.

"Jeffrey Epstein is just the tip of the iceberg, it gets worse!" - Whitney Webb | Redacted

Redacted

Webb opines that there is a vast and interconnected network involving the Deep State, Jeffrey Epstein, the Clintons, the mafia, and powerful individuals tied to effective altruism, which is manipulating and controlling people through various means, including technology, surveillance, and the merging of eugenics with transhumanism.

Quick Summary Bullets:

Deep State Connections and Intelligence Agencies

  • “Journalist Whitney Webb uncovers the Deep State’s connection to Jeffrey Epstein and the mafia that runs it, revealing a sordid union between intelligence and crime.”
  • “It’s astonishing, really is amazing work and just an eye-opening piece of Journalism.”
  • The book highlights the fusion between intelligence and organized crime that started in the 1940s and has evolved over time, showing that this group is still active and involved in various activities, including FTX.
  • The statement that Epstein “belonged to intelligence” suggests that he may have been an asset or agent for one or multiple intelligence agencies.
  • The mainstream media narrative on Epstein focuses narrowly on his sex trafficking activities from 2000 to 2006, while his intelligence connections and controversial behavior date back to the 70s and 80s.
  • Clark Clifford, one of the masterminds behind the BCCI, a private intelligence apparatus involved in sex trafficking and money laundering, highlights the existence of a larger network of criminal activities beyond Jeffrey Epstein.
  • The interconnected network surrounding Epstein and Bankman-Fried continues to raise suspicions and warrants further investigation.
  • “The sordid Union between intelligence and crime that gave rise to Jeffrey Epstein.”

Corporate Influence and Tech Industry

  • Jeffrey Epstein allegedly developed a Ponzi scheme with Stephen Hoffenberg using Towers Financial as a vehicle, making it one of the largest Ponzi schemes in US history.
  • There is extensive evidence of a relationship between Bill Gates and Epstein in the 90s, including involvement with Galene Maxwell’s siblings, which has been glossed over and could create major problems for Microsoft.
  • “Silicon Valley Giants are almost all major contractors to the National Security State, fusing with the government.”
  • The relationship between Silicon Valley and the CIA has been continuous since the founding of these companies, highlighting the influence of the National Security State in shaping the tech industry.
  • The connections between FTX, WeChat, Tesla, and Jeffrey Epstein raise questions about the influence and involvement of powerful individuals and companies in shaping the future of technology and society.

Manipulation and Threats to Democracy

  • The concept of the “everything app” being tied to a person’s digital ID, Central Bank digital currency, social media, and vaccine passport is concerning and warrants attention.
  • Public-private partnerships elevate the private sector to an equal footing with the public sector, resulting in increased corporate capture of the government and potentially undermining democratic processes.
  • The World Economic Forum uses manipulative tactics, such as perverting the concept of collectivism, to convince people to accept policies that ultimately result in a significant reduction in their standard of living and rights.
  • According to Harari, in the fourth Industrial Revolution, it is better to be exploited than irrelevant, creating a society with a small elite class and a massive underclass of exploited and irrelevant people.
  • “Eugenics on people is framed as health care and they showed that they’re going to try and mandate that type of stuff. Even if it kills you, they don’t care because ultimately they want to lower the global population.”

Transcript Summary:

  • 00:00 Whitney Webb’s research reveals the deep connections between the Deep State, Jeffrey Epstein, the Clintons, and the mafia, exposing a much larger and darker network that extends beyond Epstein.
    • Whitney Webb discusses her extensive research on the Deep State’s connection to Jeffrey Epstein, including the Clintons and the mafia, revealing that Epstein is just the beginning of a much larger and darker network.
    • Whitney Webb’s book is an astonishing and important piece of independent journalism that should be supported and read, despite its dense and lengthy nature.
    • Books like this should be standard reading for college students to understand the alternative history and how we’ve been lied to about many issues, as it is transformative and reveals how the machine actually works.
    • There are connections between the Sam Bankman-Freed story, the unsealing of names in the Jeffrey Epstein case, and the fusion between intelligence and organized crime that started in the 40s and is still active today.
    • It is difficult to determine who was behind the FTX scandal and the cover-ups, but there are similarities with the JFK assassination in terms of powerful people and elites trying to hide information.
    • Powerful networks, including those affiliated with organized crime or intelligence, are able to get away with crimes due to a lack of accountability and support from certain actors, as seen in the case of Jeffrey Epstein and the media’s coverage of him.
  • 06:03 The author discusses the government’s involvement with Jeffrey Epstein, suggesting that his ties to intelligence agencies and involvement in financial crimes and arms trafficking are being covered up, with potential connections to Vince Foster’s death and Hillary Clinton’s questionable bankers.
    • The transcript discusses the author’s interest in the government’s involvement with Jeffrey Epstein and their attempt to cover it up, specifically focusing on the implications of Epstein belonging to intelligence agencies.
    • Epstein’s involvement in sex trafficking minors was likely connected to state intelligence agencies, and while the mainstream media focuses on a specific time frame, his earlier controversial behavior involved financial crimes and arms trafficking, with institutions tied to intelligence agencies also being involved in sex trafficking.
    • Jeffrey Epstein, along with his colleagues Stephen Hoffenberg and Douglas Elise, were involved in a massive Ponzi scheme using Towers Financial as a vehicle, with Epstein being initially implicated as the mastermind but later having his name dropped from the case and instead visiting the White House due to his involvement in fundraisers.
    • Vince Foster’s suicide note, which is believed to have been created by Hillary Clinton or those around her, mentioned a fundraiser for the White House historical Association that involved Jeffrey Epstein and raised suspicions about the finances.
    • Clark Clifford, instrumental in establishing the bank BCCI in the US, which was involved in sex trafficking and money laundering, Jeffrey Epstein, mastermind of a Ponzi scheme, and a banker affiliated with Epstein and Maxwell, all potentially connected to Vince Foster’s death and Hillary Clinton’s involvement with questionable bankers.
    • The media has largely ignored the story of Jeffrey Epstein and Ghislaine Maxwell, with significant parts of the story being glossed over and not reported on.
  • 15:54 The Epstein-Clinton and Epstein-Bill Gates relationships are part of a larger cover-up involving the Deep State, which includes major Silicon Valley companies tied to the government, and the military industrial complex has been using technology for surveillance, with Palantir being a modern surveillance tool.
    • The Epstein-Clinton relationship, including illegal fundraising and the establishment of the Clinton Foundation, as well as the Epstein-Bill Gates relationship and their connections to Microsoft, are part of a larger cover-up and raise questions about where it all leads.
    • The speaker discusses the concept of the Deep State, which they refer to as the National Security State, and how it includes military and intelligence agencies as well as major Silicon Valley companies who are tied to the government.
    • Many big Silicon Valley companies have deep connections to the CIA and the National Security State, with their involvement being crucial to their success and establishment.
    • The military industrial complex has been using technology to surveil the population since the Vietnam War, and this agenda has continued through the creation of databases like the main core, which still exists and is linked to the surveillance conducted by agencies like the NSA.
    • Palantir, a company funded by Peter Thiel and the CIA, was created to replace a defunded DARPA program called total information awareness, and it was resurrected with the involvement of Thiel, Alex Karp, and Richard Pearl to become Palantir, which is essentially a modern surveillance tool.
    • DARPA’s lifelog program was shut down and Facebook was launched with the support of Peter Thiel, which is not a coincidence, and this is happening in the same week as the unfolding of events with FTX and Sam.
  • 26:36 The speaker suggests that a network of powerful individuals involved in effective altruism, including William McCaskill and Sam Bankman-Freed, may be connected to the scandal involving Jeffrey Epstein, with ties to digital ID systems, biosecurity organizations, and financial activities with Ukraine and the Democratic party.
    • The speaker suggests that the recent rollout of a digital ID system and the discussion of a US-backed digital currency by the Federal Reserve may be connected to the scandal involving Bankman-Freed.
    • The FDX situation reveals connections to both the Democratic and Republican parties, with donations made to Republican candidates who support biosecurity policies similar to Democrats, suggesting a larger network behind Jeffrey Epstein.
    • There is a network called effective altruism, with William McCaskill being a key figure, who guided Sam Makeman Freed’s career and had connections to FTX, Alameda Research, and various biosecurity organizations, including those tied to the 2001 Anthrax attacks.
    • There is a network of individuals involved in effective altruism, including prominent figures from Silicon Valley, such as Sam Bankman-Fried and Dustin Moskovitz, who manage billions of dollars and have connections to Elon Musk, and there are suspicions and controversies surrounding this network.
    • There is a powerful group, including William McCaskill and Sam Bankman-Freed, involved in financial activities with Ukraine and the Democratic party, with the agenda of creating an “everything app” tied to digital ID, Central Bank digital currency, social media, and vaccine passports.
    • FTX and Elon Musk both have plans to create an all-in-one app similar to WeChat that combines social media, finances, and other services, with WeChat’s parent company being a top investor in Tesla and a company that Jeffrey Epstein advised before his second arrest.
  • 34:13 Epstein’s mysterious billions and connections to a network are being investigated, suspicious activities involving organizations tied to effective altruism and FTX are being uncovered, the World Economic Forum promotes public-private partnerships leading to a totalitarian system, and people are being manipulated and controlled through various means.
    • Epstein and Sam Bankman-Fried’s mysterious billions and their connections to a particular network, including FTX Bloomberg, are being investigated by the southern district of New York.
    • There are suspicious activities involving executives tied to Jane Street effective altruism, William McCaskill’s Center for Effective Altruism, and FTX, including money laundering and grants being circulated between these organizations, while members of Congress investigating FTX have received significant donations from individuals involved in the scandal.
    • The World Economic Forum promotes public-private partnerships, which essentially allows for more corporate capture of the government and further elevates the private sector to be on equal footing with the public sector.
    • The World Economic Forum is promoting a system that combines public and private power, leading to a totalitarian system regardless of whether it leans towards fascism or communism, and they use manipulative language to convince people to accept a lower standard of living and fewer rights for the supposed greater good.
    • The world economic Forum annual meeting and policies created by the Elite Class are leading to the emergence of a neofeudal system with an elite class at the top and a massive exploited and irrelevant underclass.
    • People are being manipulated and controlled through the removal of their independence, the promotion of alcohol and pharmaceuticals, and the use of convenience as a means to create a compliant and sedated society.
  • 44:02 People are becoming enslaved to comfort and convenience, while those in power manipulate desperation to exploit them, with figures in the transhumanist movement advocating for a technocratic system and the merging of eugenics with transhumanism.
    • The convenience of smartphones has led to the elimination of in-person tasks such as banking, cash withdrawals, government office visits, and bill payments.
    • The speaker discusses how people are enslaved to comfort and convenience, and how those in power manipulate desperation to entice people into systems that exploit them.
    • Effective altruists aim to become extremely wealthy in order to have the power to scientifically and mathematically determine where their money should go for the greater good of humanity, which can lead to a desire to micromanage every aspect of our lives.
    • People involved in the transhumanist movement, such as Peter Singer and figures in Silicon Valley like Bill Gates, are advocating for a technocratic system where a class of technocrats make decisions for the greater good, including potentially advocating for infanticide and reducing the population.
    • The Eugenics program, which continued after the 1930s and 1940s, merged with transhumanism after World War II, as described by Julian Huxley, the president of UNESCO and the British Eugenics society, who coined the term and advocated for manipulating genes and merging man with machine.
    • The speaker discusses the connections between the Rockefeller foundation, transhumanism, and the promotion of artificial intelligence, arguing that the idea of super intelligent AI dominating life is unlikely, but that the fear of it can be used to convince people to adopt transhumanist technologies like brain chips, citing Elon Musk’s promotion of augmentation and the troubling human trials of Neuralink.
  • 51:14 The World Health Organization’s potential influence in future pandemics, influenced by the World Economic Forum and non-public sector actors, raises concerns about reducing national government regulation and promoting medical solutions like mRNA vaccines, while Silicon Valley merges with the healthcare industry to push transhumanist agendas and frame eugenics as healthcare during COVID.
    • The World Health Organization has released a draft of a pandemic treaty that would create a new government authority with overarching power, including peer reviews, audits, a Ministry of Truth, and a central role to oversee pandemic response, raising concerns about the authority of elected leaders.
    • The UN, including the World Health Organization, has been heavily influenced by the World Economic Forum and operates as a public-private partnership, with the misconception that it is solely a public sector organization.
    • Bill Gates, through the Bill and Melinda Gates Foundation, has ties to Big Pharma and is focused on making money and exerting control, with a specific agenda related to reducing the global population, while non-public sector actors influence the World Health Organization’s policies; additionally, big Pharma is partnering with Silicon Valley companies to create new medicines due to an innovation problem.
    • The World Health Organization’s potential influence in future pandemics could lead to a reduction in national government regulation, allowing for the promotion of various types of medical solutions, such as mRNA and DNA vaccines, as well as DNA editing, despite concerns and conflicts of interest in the pharmaceutical industry.
    • Silicon Valley is merging with the healthcare industry, with joint ventures like Galvani Bioelectronics, which involves injectable nanotechnology that can manipulate the central nervous system, and there is significant financial backing from entities like the Bill and Melinda Gates Foundation and the CIA, indicating a power grab by the World Health Organization to push transhumanist agendas.
    • Framing eugenics as healthcare during COVID is a way to lower the global population and only allow the strongest to survive.
  • 59:32 The unsealed testimony in the Jeffrey Epstein case may not reveal much new information, but it is worth noting the potential involvement of the Pritzker family and the questionable actions of the judge, while also praising Whitney Webb’s journalism and recommending her book and website.
    • Some names associated with Jeffrey Epstein may be unredacted in the unsealed testimony, but it is unlikely that we will gain much new information from it.
    • The Pritzker family, with ties to organized crime and a major influence in Illinois politics, is mentioned in Jeffrey Epstein’s black book, suggesting their involvement in his activities.
    • The judge’s involvement in the Pritzker-Epstein relationship and her history of sending people to prison raises doubts about her willingness to grant access to the client list in the Virginia dufre and Delane Maxwell case.
    • The speaker praises the journalist for their remarkable and amazing journalism, expressing hope for their frequent guest appearances, and recommends their book on Jeffrey Epstein.
    • Whitney Webb’s website, unlimitedhangout.com, is the best place to find her writings, and she also has a podcast called Unlimited Hangout, which can be found on various platforms including Apple Podcasts and SoundCloud.
    • Join our community at redacted.inc to access exclusive content that the mainstream media won’t cover.

IT’S OVER: Florida Costs SOARING AGAIN! The Perfect Storm Leaving Florida & Home Insurance Canceled

Jerry Pinkas

Quick Summary Bullets:

  • Over 100,000 homeowners in Florida are losing their homeowners insurance in the middle of hurricane season, leaving them vulnerable to financial devastation.
  • Florida is the number one hurricane state in the nation, setting up the stage for a perfect storm that will crush homeowners.
  • Home insurance costs in Florida have skyrocketed, with one homeowner experiencing a drastic increase from $3,000 to $133,000 a year, forcing her to sell her house and move to South Carolina.
  • Homeowners in Florida are being dropped from their insurance companies due to the age of their roofs, leaving them without coverage and facing expensive roof replacements.
  • Homeowners in Florida face significant financial risks as they essentially become their own insurance company, having to pay for cleanup, repairs, and even the demolition and rebuilding of their homes in the event of a total loss.
  • Homeowners in Florida are facing skyrocketing insurance costs, with some spending large amounts of money on repairs and still having their insurance canceled.
  • Florida property taxes are spiking for new homeowners, with some seeing their taxes increase from $5,000 to $113,000 a year, highlighting the issue of unaffordability in the state.
  • Myrtle Beach, South Carolina has been named the fastest growing place in America for three consecutive years, making it an attractive alternative option for those considering a move.

Transcript Summary:

  • 00:00 Florida homeowners are losing insurance coverage as companies pull out of the state, leading to double-digit insurance hikes and reliance on Citizens Insurance, which is struggling to cover the needs of policy holders.
    • Florida homeowners are facing the perfect storm as insurance companies are pulling out of the state, leaving many without coverage and forcing them to rely on the insurer of Last Resort, Citizens Insurance, which has resulted in double-digit insurance hikes.
    • 1.3 million policy holders with citizens in Florida only generated $3.9 million in income this year, creating a significant problem even if a weak storm occurs.
  • 02:00 Florida is at high risk for hurricanes, being the number one state in the nation, and homeowners are facing the perfect storm as insurance costs soar and policies are being canceled.
  • 02:49 Home insurance costs in Florida are soaring, leading to homeowners being dropped by insurance companies and forced to rely on Citizens Insurance and flood policies, resulting in many selling their homes and moving to other states.
    • Home insurance costs in Florida have significantly increased, forcing homeowners to shop around for alternative options, but many are being dropped by insurance companies, leaving them with no choice but to rely on Citizens Insurance and additional flood policies, leading to homeowners selling their homes and moving to other states.
    • Insurance premiums in Florida are skyrocketing due to an increase in lawsuits and extensive damage caused by hurricanes, with the state accounting for 79% of all insurance lawsuits filed in the US.
  • 04:38 Florida homeowners are facing skyrocketing insurance costs and cancellations due to issues such as roof age, lack of coverage for wind and hail damage, and the need to bring roofs up to code after storms.
  • 05:58 Florida homeowners are experiencing rising insurance costs and lawsuits, causing some to question the need for insurance and consider self-insuring due to the financial burden of covering all cleanup, repairs, demolition, and rebuilding costs themselves.
    • Florida homeowners are facing skyrocketing insurance costs and an increasing number of lawsuits, leading some to question the necessity of insurance and consider self-insuring.
    • Homeowners in Florida face the risk of having to pay for all cleanup, repairs, demolition, and rebuilding costs themselves, which can be a significant financial burden and deter even wealthy individuals from taking on such risks.
  • 07:39 Florida homeowners are facing rising costs for home insurance and construction due to hurricane requirements, with some spending large amounts on repairs only to have their insurance canceled.
    • Florida residents need to have home insurance in order to get a mortgage, and storm proofing their homes by getting wind mitigation inspections, replacing old doors and windows, and installing storm shutters can help protect their homes and potentially save money on insurance.
    • Florida homeowners are facing increasing costs for home insurance and construction due to requirements for hurricane straps and wind mitigation inspections, with some homeowners spending large amounts on repairs and still having their insurance canceled.
  • 09:44 Florida property taxes are skyrocketing, making it unaffordable for new homeowners and potentially leading to a collapse during storm seasons, causing many to consider moving to states with lower costs and better amenities.
    • Florida property taxes are increasing for new homeowners, with some seeing their taxes surge from $5,000 to $113,000 a year, leading to concerns about the affordability of living in Florida and the potential collapse of the system during heavy storm seasons.
    • Insurance costs, higher property taxes, home maintenance costs, traffic congestion, and doubling/tripling insurance rates are causing a high cost of living in Florida, leading many people to consider moving to other states with lower chances of natural disasters, lower property taxes, great year-round weather, good healthcare, and plenty of fun activities.
  • 11:35 Florida home insurance costs are increasing and policies are being canceled, causing homeowners to consider alternative options like Myrtle Beach, South Carolina.

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