Ripped From The Headlines, August 21, 2023
Cuba's "Cashless Economy" Sneak Peak, Car Prices "Unsustainable" For Average Americans, Bank Branches Closing At Record Rate - Read, Share, & Subscribe - SherlocExposes.com
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“When Cuba in early August announced it was taking a major step towards electronic banking and a ‘cashless’ society, the offices of fledgling small businesses across the communist-run country were left scrambling to figure out how to respond.
Most alarming to many budding entrepreneurs was a new 5,000 peso ($20) daily cap on cash withdrawals for businesses, one of several measures the government said were aimed at forcing Cubans to do their transactions electronically, via transfer, online payment and bank cards.
The changes were needed to stem a cash shortage, Cuban central bank officials said, as the fast-falling peso and soaring consumer prices combined to drain bank reserves and ATM machines.
But concerns over their impact are already causing difficulties, said Yulieta Hernandez, founder and manager of Pilares Construction, a private, Havana-based builder that employs 60 people.
‘We understand there is a crisis, and the need for banking, but this is our money,’ Hernandez said. Her business had already adopted electronic banking but she often needs quick access to cash to pay for emergencies on job sites, she added.
THINGS TO PONDER:
What you’re seeing in Cuba is a sneak peek of your future.
Do you see similarities in this story, to the ones that we shared about what’s happening in Australia right now?
From the August 7th edition of Ripped From The Headlines:
And, our commentary:
Remember, when you put your money in the bank… it’s not really your money anymore…
And Australia is showing you how your future bank overlords will treat you.
In order for the totalitarian control systems to really be effective, the people that are doing this have to get rid of cash, along with any other method you might have to work outside of the system.
This is why they hate things like crypto so much.
Now’s a really good time for you to prepare alternatives for your money.
Brace For Impact.
Things are happening faster now. Brace For Impact Indeed.
Click Here to read the full article.
“Five years ago, there were a dozen models of new cars that sold for less than $20,000. In 2023, there was only one: the spartan Mitsubishi Mirage hatchback, which accounted for about 5,300 of the 7.7 million new vehicles sold in the U.S. in the first half of the year.
If you are willing to spend more than $100,000, you can choose from 32 models. For the average American, paying off a new car at current prices demands 42 weeks of income, according to data from Cox Automotive, up from around 33 before the pandemic.
Higher interest rates have made the situation more difficult for buyers. Today’s average new car loan has a monthly payment north of $750, with an interest rate of 9.5%. For used cars, the average rate is above 13.7%, according to Cox. The average term for loans issued over the past three years is nearly six years, according to data from Experian.
These numbers could explain a mystery bedeviling auto lending. Seasonalized rates of severe delinquency for auto loans are the highest since at least 2006, but the jobs market is strong.
‘Usually you get the default spikes when unemployment spikes—it’s the biggest correlation in consumer credit,’ said Clayton Triick, a fund manager at fixed-income investor Angel Oak Capital Advisors. ‘To see them go up that much while unemployment is still low is not typical.’”
THINGS TO PONDER:
During a recent media appearance, we made this statement:
“Just because you’ve never seen it happen before doesn’t mean it can’t, or isn’t, happening…”
This brings us to an issue that “investors” and “economists” just can’t seem to figure out:
‘Usually you get the default spikes when unemployment spikes—it’s the biggest correlation in consumer credit,’ said Clayton Triick, a fund manager at fixed-income investor Angel Oak Capital Advisors. ‘To see them go up that much while unemployment is still low is not typical.’”
This actually isn’t that hard to figure out - it’s too expensive to live, and having a job doesn’t mean you can afford things.
But these knuckleheads won’t spend 5 minutes in the real world to see that for themselves…
Keep in mind, many of those same knuckleheads ARE MANAGING YOUR MONEY RIGHT NOW.
You need to be asking your resident knucklehead LOTS of questions about what’s happening with YOUR money… right now.
Know Your Foe… and Brace For Impact - it’s going to get even more bumpy.
Click Here to read the full article.
“Growing numbers of Americans are being left without access to basic financial services as banks have axed more than 1,000 branches this year, DailyMail.com can reveal.
Data from S&P Global Market Intelligence shows a total of 1,144 national and regional banks were closed between January 1 and July 31 across 49 states - and firms are pulling out of some areas at a faster rate than others.
While California had the most closures in absolute terms, New Jersey suffered the greatest losses per capita with a total of 83. It was trailed by Washington D.C. and Connecticut. Vermont was the only state to have not lost a single bank branch.
The latest spate of closures brings the total since 2019 to 10,680. A handful affected small regional banks but nationals including Wells Fargo, Chase and U.S. Bank represented the bulk.
Although the onslaught on brick-and-mortar branches is ongoing, it may be slowing. In 2022 there were a total of 3,066 - nearly thrice the number to have been culled in seven months this year. Banks had a total of 78,121 active branches across the country as of the end of May, according to S&P.
THINGS TO PONDER:
This is another step towards a future that doesn’t include your economic freedom…
When bank branches keep closing, your options get more limited…
And, for those who say “Just go to another bank!”
Those “other bank” options are running out too…
You’re going to have to engage on this and be vigilant… you’ve been a frog in a pot being slowly boiled and not realizing it for a long time… and you’re just about cooked.
Two resources for you:
Here’s the list of chief offenders… PNC has been on the Sherloc Death List for a while now:
2. Here’s our keynote presentation for Americans For Prosperity, where we discuss how and why this is happening, and what the solutions are:
Brace For Impact.
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What does this mean?
Things aren’t going to end well if you don’t take action.
But, here’s what’s different this time… multiple people are saying that exact same thing from a number of different angles, and in different places.
One of the things we often say is to watch what successful people do, & do what they do, AND then watch what unsuccessful people do, and don’t do what they do…
Most of them are already out of the line of fire for social unrest or economic collapse…
How do you think they see things ending up?
Why should I care?
When was the last time you checked on your “go-to’s”:
*Your go-to investment?
*Your go-to safety net?
*Your go-to emergency plan?
If it’s been a while, here’s some bad news: They probably might not work anymore.
That means you’re behind in planning for rough times.
You should care.
What should I do?
Take a moment… right now if you can… to take inventory of what you’re seeing in this newsletter each day.
Have you ever seen a time quite like this?
Ok good, you’re paying attention. That’s the point.
If you’re not paying attention and trapped in the hustle and bustle of a busy world (with a ton of useless stuff, by the way), this stuff will come up on you like a thief in the night.
You need to take the time to prepare as best you can for a time when good supplies, strong communities, and strong connections are the difference between surviving and thriving or being in bad shape.
GET MOVING ASAP.
Also, please share what you get from this newsletter.
It’s OK if you don’t understand it all.
Tell them to ask us.
Your future, and theirs, depends on it.
James Wesley, Rawles, publisher of SurvivalBlog.com has put together a “bookshelf” list of key things you should have. CLICK HERE to access the list.
Plus a recap of the 50 things you should have handy to barter.
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