Crypto Confusion: Why Take the Risk?

[00:00:00] Speaker A: Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy. [00:00:18] Speaker B: This is another Money Show. Get set for another hour of the latest financial information and economic news affecting your bottom line. J.R. and Anthony are committed to helping more Americans like you optimize their inc. Reduce their tax risk and reach financial freedom. So let's start the show. Here are your hosts, Anthony Correo and J.R. rochford. [00:00:43] Speaker C: Here we are, your host, Anthony Correo Jr. Rochford taking a break from our day today as financial advisors with Rochford and Associates, fully independent fourth generation family office right here in Sun City to bring you information you may not find on those other financial shows. We're aware the last thing you need is another money show, but we appreciate you being here and we got a lot for you today. We kind of slacked off last week and ranted about currencies for a bit, but we didn't want to spend too much time on the news because, you know, we've only got bummer stuff to talk about on here and it was the holidays. Wanted you to go enjoy yourself. So we hope you had a wonderful Thanksgiving. [00:01:20] Speaker D: Yeah, I agree. Everything he just said, I agree with all that. So when you say fourth generation family practice, completely independent, all that stuff, you should add veteran owned because I'm still around. I'm not dead yet. So. And I am one of the owners of this little sweatshop. So add veteran owned. The only reason I bring that up is because I have a son named Nick. I can't say Nicholas because I got a little bit of trouble for, for saying Nicholas. Too formal, I guess. Anyway, Nick is in Japan. He's in Okinawa, Japan. So I this week have been watching South Korea. [00:01:53] Speaker C: Look at that. [00:01:54] Speaker D: It's the holiday season. I'm going to jump right into everybody's to die. Russia's going to nuke us. You know what I was looking at this morning? I was online looking at a map of targets in this country. So like if Russia nukes us, it shows where people would get hit. So that. Oh boy, talk about scary. Anyway, back to the Russia can take. [00:02:15] Speaker C: Ukraine and they share a border. I'm not worried about Russia and the United States. [00:02:19] Speaker D: Oh, I am. I mean I'm definitely. [00:02:22] Speaker C: We like being worried about everything. If you had nothing to worry about, you'd have nothing to live for. [00:02:27] Speaker D: That is very true. No, I'm super worried about Russia. I actually went into the hallway the other day and put my knees up against my chest like I was back in eighth grade. Just in case. I wish I had a school desk so I can get under it if we get nuked. But I do have nascent iodine and HEPA filters, so I am a little prepared if that happens. You know what? Also from Desert Storm days, I still have my A bag and my C bag. If you don't know what that is. I have a bag that never got turned in. I called them when I, when I went out process, but nobody really everything was busy at. Then I got, I got off active duty in 91. Anyway, I have a gas mask, I have the chemical suits, I have charcoal inserts, atropine injectors. So I got all that stuff. I wonder if it still works. You know, that was from the. [00:03:17] Speaker C: Maybe you'll find out soon. [00:03:18] Speaker D: Yes, yes. When North Korea, I mean Iran, I mean, Russia nukes us. Yes. Anyway, back to Japan. So if you have been listening to the news at all the last couple days, South Korea put their country into martial law and then there was a little bit of kerfuffle. Oh, I haven't never used the word kerfuffle on the show. So this is cool. So Merry Christmas, listening audience. Anyway, then politically. Oh, I shouldn't say I was told that's not a good thing to do. So I'll stick with kerfuffle instead of. So politically, then they talked about lifting the martial law and then they put it back. So I'm not sure where we stand right now over in South Korea, but apparently, Anthony, they are more worried about you. So the region is still sketchy. China, that whole thing. Is China ever going to invade Taiwan? I don't know. I assume sooner or later. China is putting a complete ban as of yesterday, the 4th of December. By the way, today is the 5th of December, as we record. So they put a complete ban on rare earth metals to us, like things that we need for electric vehicles for military uses. So China, in preparation for Trump to get in office is they're working on their own tariffs and their own, you know, way to combat us. So that's interesting. [00:04:43] Speaker C: Anyway, so was it. It's raw materials, right? [00:04:46] Speaker D: Correct. [00:04:47] Speaker C: And I mean, that could be devastating. I, I get why everybody's concerned about this, but, you know, there's a lot of resources in the States too, that we could be working on and we're not. [00:04:57] Speaker D: So we're not, we're not kind of. [00:04:59] Speaker C: Like towards that though. [00:05:00] Speaker D: Well, and, and when Biden got into office four years ago and the day one, you know, he said we're not going to do any more digging, drilling, fracking, pipelines. So you know, we don't need to buy oil from other countries. So there's one rare earth mineral we should be self sufficient with but we're not. By the way, government fill the strategic oil reserve. I haven't said that in a while but oil today is at like 68, 69. It's right under 70 bucks a barrel. So it's still a good time. Maybe Trump will come in and do that. If you want to read more about the whole China export, it's going to affect intel, it's going to affect the chip processing plans. Here's one article and I'm not going to dig into this because it's not that important comparison to other things that we will say. [00:05:46] Speaker C: Same conversation with all the tariffs, it's if we charge these tariffs, it's just going to go down to the consumer and you're going to get screwed as the consumer. It's like, well, these people do it anyways. They do it anyways. Remember in 2020 and 2021 when we shut down the entire country and laid off a bunch of people and we had an essential employees, yet these companies are hitting all time profits again. They're going to do it regardless. They're going to do it regardless. The consumer will get screwed regardless of. [00:06:19] Speaker D: Oh my gosh, are you negative? So much for a happy holiday episode. So yeah, I mean I'm always half full, you're always half empty. So I guess, I expect, I'm just. [00:06:27] Speaker C: I'm tired of that argument. Kind of like the same argument you use to not raising minimum wage. You're like, oh, if we raise minimum wage then they're just going to charge us more. Yeah, they're, they're going to do it anyways. [00:06:39] Speaker D: So what are you saying? So you're saying they're going to hold back materials from us anyway no matter whether I bring it up or not or what. What argument are you tired of? [00:06:47] Speaker C: I'm saying that, you know, the tariffs, all these threatenings because all of this is based around Trump and Trump's saying, hey, we're going to start putting the squeeze on all of these other countries from taking advantage. [00:06:58] Speaker D: Are you sure it's all based around Trump or is Trump the scapegoat and the caveat to bring it forth? I think it's all based on the BRICS nations wanting to de dollarize no matter what they say. I think they want a new world order. I think they want a new world reserve currency. I think it's deeper than Trump. I think Trump is on the surface. I think Trump is going to be the catalyst to bring it on. [00:07:18] Speaker C: Well, I think Trump's the catalyst because he's the one that's going to fight them. [00:07:22] Speaker D: Yes. [00:07:23] Speaker C: I don't see any other leadership going. [00:07:25] Speaker D: After deeper than him fighting them. Is this country prepared? You know, during COVID another thing we learned a lot of our life saving medications are made in China. Our face masks that we had to wear if we went to a PITA jungle are made in China. Are we ready to be self sufficient? I would say it'll take decades, but we'll see. I can tell you one thing, you know, the rich get richer, the poor hover and the middle class shrink. If we are prepared to be self sufficient with rare earth metals and, and all this stuff, be ready to pay a heck of a lot more for goods and services. That's all I can tell you. [00:08:04] Speaker C: Well, maybe the modern day French revolution will change that. But we'll talk about united healthcare later. Sorry. [00:08:12] Speaker D: And I want to be back into the pan. I don't want to be in France. I don't know what the hell you're even talking about. So if you want to read more because Anthony's bursting my bubble and raining on my Christmas parade. If you want to read more. One article I printed off, you know, I mean you'll find scores of articles. This One is from 3 December from Reuters. It says here, after China's mineral export ban, how else could it respond to US chip curbs? It does go further and talks about critical minerals that are needed for military uses and civilian uses. It's, it's just, you know, a lot of changes are coming. We, that's the whole premise of our show. Change is inevitable, change is constant. Our mission on the show is to make sure you're prepared, not scared. We want you proactive, not reactive. I can tell you with everything going on with tariffs, when you talk about 100% tariffs on the BRICS nations and then they're saying oh okay, then we'll back down. No they won't. So get ready because I don't think inflation's over. I think costs are going to rise. But that's just one part anyway, back to Japan. So be safe. Nick, I would rather you were here, but sooner or later you will be again and be safe. I've asked if he knows anything, you know, more detail about South Korea. Either A, he does not or B, he cannot tell me, you know, need to know basis. And I, I don't have a security clearance anymore. I don't know. But he's saying no. No. They're really not hearing much, so it's just odd. Martial law in the entire country of South Korea should raise an eyebrow here or there, but we'll see. [00:09:50] Speaker C: What was the martial law for? So they, the president inflicted martial law and then it got voted out almost immediately after. [00:09:58] Speaker D: Right. [00:10:00] Speaker C: But what was it over? Was it lost the election? [00:10:04] Speaker D: No, I think it's North Korea. I think it's, I think they're worried about military action. But that's part of what I'm saying. I mean, I was hoping Nick could shed some light actually being in that area. You know, our office manager, Macy and her husband Michael C from Sun City, they have a son that just got deployed there. They have a son actually in South Korea. So I need to get Macy to get her security clearance and squeeze him for information. He's actually there, so we will see. With that said, you know, let's talk for a second about last week's show. We, it was real heavy on cryptocurrency. I believe that you and I have both made a stand that we're not a big fan. I'm still not. I did take a little heat from it. An old next door neighbor. I'll leave John unnamed, but he'll know who he is. So he gave me a little flack. He's like, you guys are really negative on cryptocurrency. I'm like, yeah, well, and I'm going to condense like a 23 minute conversation into a short, you know, quick period of time here. But I said, first of all, you know who we are. We are a safe money practice. If you come to us, you know what we're an expert in. And I mean expert because I've done it for almost 30 years, you've done it for over six. We are an expert in helping you protect and grow your money, your wealth, your future, in that order. If you want to know about lifetime income, that's what I'm interested in. If you want right now, today is December 5th. I have a one year CD alternative paying 4.25%. One year, one year 30 day window. You can take it out, you can take part of it out, you can continue it on. We can give you the details if you wish. That's what I'm an expert in. I'm not an expert in cryptocurrency. But he said you, you know, it was so negative. Yeah, you're right. You know why? Because I still think it's baloney. I, I mean I've read stuff about it being a CIA operation that Bitcoin was known decades before it came out. I, I, my, my whole. [00:12:08] Speaker C: Can anybody justify the growth behind it? Because everything I see points at it's gained value by people trading it. Well, people trading it doesn't. How does so there's nothing behind it. There's nothing behind it. [00:12:24] Speaker D: Correct. It's worth it and that's the best. [00:12:26] Speaker C: That I can do. So if he can justify why it's great, I'll change my mind. I'm all for. [00:12:33] Speaker D: He's smart. He is very smart. He knows what it is. This is one giant pump and dump. This, this should be the next Wolf of Wall street movie should be on cryptos. I'm sure it will be. You know they, they had one on the. [00:12:49] Speaker C: I don't know that it is anymore because all of these organizations are giving it legitimacy. [00:12:54] Speaker D: Well, Jerome Powell's not. Jerome Powell in the Fed meeting yesterday called it speculation. But then again, you know, you did a great job the last four years that we've been watching you Jerome. That you know the amazing Jays Jared Jerome. Joey B. [00:13:08] Speaker C: Here's the thing, right? You just sent me an article I think this morning on that Hock Tua girl released her own coin. That's what we're having in this conversation. [00:13:17] Speaker D: I'm about to get to that. I. This is the greatest unknown perhaps in this country in the history of presumably financial matters. Although I don't think you can take your X bar, XRP or Bitcoin to Firebirds on 83rd and Bell and buy dinner with it. So I don't know, you still have to convert it back to the dollar that you hate so much. [00:13:36] Speaker C: So it's not a currency. [00:13:38] Speaker D: It's not a currency. [00:13:39] Speaker C: It's air I'm giving it back to. I mean we played the clip twice last week. The guy that created Dogecoin said it was a joke and you people have given it value. [00:13:49] Speaker D: So. So do you want to fall short of saying people are dumb? I mean, you know the implication that you're making and I'm going to agree. I mean this is insane. I guess if somebody comes to me and they have their vehicles paid off and they have life insurance and they have a plan for long term care insurance and they have no mortgage and they have Good income. They've done their lifetime income planning and they're like man looking for ways to swing for the fences. Oh, we got a good one for you. There's a new coin called Bonk. [00:14:17] Speaker C: I'm happy with people making money. I love that people are making money. Don't try to justify your making money as that you're a financial genius when there's no reason that they should be making money. That's my biggest concern. I don't care if you buy cryptocurrency. Buy all the cryptocurrency you want. But not one person has been able to justify why it's such a smart purchase. Outside of everybody is chasing and it's a Ponzi scheme with Nothing backing it. NFTs we talked about last week. NFTs are at least artwork. It's something, I mean in the sense it's a hard asset, it's a hard digital asset, but it's an asset of sorts. This is a currency that isn't actually a currency. We have a woman who went viral on you YouTube and she has her own cryptocurrency now. That's how serious this is. [00:15:12] Speaker D: So thank you, shout out to Jason for bringing that to my attention this morning. I didn't know about the, the crypto hawk. I didn't know about the hawk to a currency, but yeah, that's a real thing. It went live like this Wednesday, so that is a real thing. [00:15:29] Speaker C: Oh yeah, right now you can buy it. [00:15:32] Speaker D: Yeah, well, I don't know. I think it's suspended this morning. I think it got suspended this morning. Oh well, it dumped like 91% yesterday. I guess it opened up on fire and then it lost like 61% and now it's suspended. [00:15:43] Speaker C: But I don't know, even those chasing xrp, you know, it jumped up. Oh, and a reminder for XRP, XRP's all time highs were in 2018, like 3. Yeah, it was like 340. And so it hasn't hit that again yet. But that means people that bought back then aren't even back to square again. [00:16:04] Speaker D: You know, we meet a lot of people, we talk to a lot of people. Whether they become a client or not, we talk to a lot of people. We have one client that I know of, you know, in bitcoin in, you know, 2009, it was talked about in 2016 was when Janet and my office and I looked into it, you know, now it's 2024. We have one client that bought Bitcoin low, wound up pulling out 60,000 something dollars worth, an extra like 20% to satisfy taxes if they arise. And he bought his wife a Lexus SUV. I don't know what kind. I mean, 60 grand doesn't seem like a lot for Lexus. But I have one story of somebody that did the right thing. It ran up, they took it out. They took out extra money for taxes and they bought a vehicle. Now they have a hard asset. They turned a bitcoin into hard asset. My thing with my old neighbor when we talked last, I don't know what it was, Sunday or Monday, my thing was, you know, he said that, you know, he agrees it's baloney, but people are making money. And I said, you know, and I don't want to give you too much of his business, but he put a small amount in for his son. The amount doubled. I said, did you take out your original investment yet? He said, no. I'm like, but you're too smart for this. Take out your original investment and then keep riding around this money. And I don't want to spend a lot of time in this today because that show was it. We're not crypto guys. You want to buy it, buy it. Just make sure you're hedging your bets. Make sure you're. You know, my biggest thing always is diversification and key moderation. [00:17:33] Speaker C: Well, the thing too is unless you truly believe in it, you're not going to hold it. If you have bought bitcoin at pennies, you're going to sell it at dollars. If you bought at dollars, you're going to sell it at tens of dollars. If you bought it at tens of dollars, you' sell it at hundreds. You're not holding something until it hits 100,000. If it's not sucking. [00:17:49] Speaker D: Question for you. I have a question for you. So Bitcoin hit a th000. I'm sorry, 100,000. It's at 102 this morning when I looked. So Bitcoin's over 100,000. So that means the floodgate should open further and more people should jump in. My question for you, you didn't believe in it at 10,000, right? You didn't buy it, you didn't believe in it at 68,000 within the last year. But now are you believing it at 100,000? [00:18:13] Speaker C: No. [00:18:14] Speaker D: It's fear of missing out. You don't want to miss the boat. You're. It's. We get greedy, we get dumb, we do stupid stuff. And back to my original thought on this. Make sure you get your financial house in order before you start buying this stuff, unless you're doing like you know, 50 bucks, 100 bucks, 500 bucks, whatever you want. So, and one thing too. I started reading the newer coins. Here's one for you. It's called Cat Slap. One word. C A T S L A P skyrockets. I'll just read one little thing here. Investors looking to recoup losses are rushing to buy the newly launched meme coincat Slap the ticker. In case you want to buy this kids is slap which aims to dethrone the top cat themed token pop cat according. I'll stop there. Xrp you. You know the big frenzy in xrp Also now I'm reading. Let's see, here's just the headline of one. What's driving XLM price to overtake xrp. That's interesting. Another coin for you. Here's a good one. B O N K. The boink. The Boink. It's got a little Shibu Inu looking dog on it. This is the most chaotic. Stupid ass. At least with Beanie Babies there was a series. Well, I guess it is the same because there's a series, they just keep coming out with new ones. So buy Boink. Make sure you get in on the boink. Here's one for you. An animal meme coin. P N U t just hit 1 billion market cap in 11 days. Let's see here. It's. It's 135 times faster to get to a billion than dogecoin was my point to bring up these names. Peanut Boink, Cat Slap. This is the dumbest I want to say a bad word here I've ever heard in my life. And yes, people are going to make money. They're going to give it all back eventually. But make money, do your thing. We're not experts. I need to move on because this is ridiculous. So moderation, diversification, Bitcoin. Yeah, I'm glad you're all geniuses. You're all wizards, you're all millionaires. Just make sure you cash out one of your bitcoins per week, bring it into Rochford and Associates and we will help you pay down debt, buy hard assets, set up yourself with generational wealth transfer for your kids and grandkids and lifetime income, which actually is similar to income you cannot outlive. Can you imagine if your stocks, your bonds, your CDs, your mutual funds, if you put in 100 grand, hey, that's around one Bitcoin. And then you started living on it. And 10 years later you ran out and you had no money. If you put it into something we can share with you, you can run out of money, and then the company will still pay you for life. You want to know more, Give us a call. 623-523-0444. All right, we gotta move on because I'm so tired of cryptocurrencies. Is part of it jealousy? Like I miss the boat? Sure. Of course. I'm human. You know, when Janet and I talked about it in 2016, should we have each put in a thousand bucks? Absolutely. Absolutely. Sorry, you know I missed it. [00:21:16] Speaker C: You never would have held it to this. That was the point. If it wasn't something you believed in, if it doubled or tripled in value, you're not holding a thousand dollars worth to a hundred thousand. You're not. [00:21:26] Speaker D: You're right. So let's talk about more normal stuff. No, you're absolutely right. I'm not being sarcastic. I'm just. Enough crypto. Let's see what happens. Trump is going to make it the world reserve currency. [00:21:38] Speaker C: Currency, too. I'm still upset about that. [00:21:40] Speaker D: You're upset about what? [00:21:42] Speaker C: Trump making his own cryptocurrency. Talked about it last week. [00:21:46] Speaker D: Yeah, but is it going to compete with Cat Slapper Boink? We will see. And you. You. Your friend Blaze gave you a. A thumb drive with a crypto on it. Where's the thumb drive? Do you know where it is? Do you know your. Do you know how to get into it? [00:22:00] Speaker C: No idea. I mean, this is really funny because what if it was? He bought quite a bit of it for pennies. Gave it to me as a gift. And what if it is worth tens or hundreds of thousands of dollars? Right now? [00:22:11] Speaker D: It's worth ten grand. Absolutely not. [00:22:13] Speaker C: I wouldn't change my tune because I still think it's dumb. Would I be ecstatic that I'm rich? [00:22:18] Speaker D: Absolutely. [00:22:18] Speaker C: I'd be thrilled. I would still think it's dumb. I wouldn't hold on to it. I'd be like, well, I should cash out now while I can because I don't know, maybe XRP goes to a billion. Just like bitcoin and all these other ones. [00:22:29] Speaker D: I'm not going to be able to move on, am I? [00:22:31] Speaker C: Sense? No. All right, I'm done. [00:22:33] Speaker D: All right. I'm. I'm really. I've had bitcoin cryptos up to my ear. Let's move on. [00:22:39] Speaker C: Talking to us about right now. So it's more. [00:22:41] Speaker D: And I'm tired of that. [00:22:43] Speaker C: The people listening. I have these questions, too. [00:22:46] Speaker D: Okay, We Think it's dumb. We think you, we think you should dig out your pet rock and let's bring that back. Let's cycle things that you actually have something in your hand. And when the, you know what hits the fan, you can hit somebody with your pet rock. You can throw it at the enemy. You can't throw your bitcoin at the enemy. That's right. I don't like it. It's not a weapon. Selling pet bricks, that's not a bad idea. I think they did that in Portland, Oregon, four years ago. There's love. I think they had stacks of pet bricks delivered. So let's move on a little bit. You know, last week was Thanksgiving week. I was, I heard a little story about Black Friday. Like, I don't think about it, I don't care. Oh, by the way, Black Friday, apparently something kind of newer that's old but new again. There's a huge influx of buy now, pay later. So I read a couple articles. I was kind of surprised. When I was a kid, there was something called layaway. Like if you didn't have a lot of money, you could go in and pick out your item. They would hold it behind whatever counter for you and you put down a deposit, then you made payments, then you paid it up, and then you got the item. Well, this pay now, you know, this buy now, pay later is a little different. No background check. So I'm not sure how they're tracking this, but there's no background check there. A lot of these stores are in on it and I don't hear about this anywhere. It's like a four payment installment plan. And basically, you know, you get whatever you want. Well, all sudden a little bit of the stats are coming out. People are spending like 10% more money because it's not real to them. So they're buying more. I don't know, it's just, it's kind of scary to me. You know, we're since 2010. 2010. Think about that. That was, you know, the great recession era. That's the last time we had credit card defaults as high as they are right now. So who is doing buy now, pay later? It's not the wealthy. It is the people that are defaulting on their credit card bills as it is. It's the middle class shrinking further. So anyway, if you're tempted to buy now, pay later, I make that on. [00:24:50] Speaker C: A lot of my online purchases now. They do. There's a little button that says buy through whatever it is and pay. [00:24:57] Speaker D: I would be very Careful with that. I think the wrong people are going to fall into that trap. I think once again, it's, it's just, it's setting up people for failure. Well, at least, you know, you can file bankruptcy. There's still people paying off last Christmas. I guess there's a percentage of people that are still working on that. Jeez, it's almost break time and all we do was talk about this coin crap. Anyway, Black Friday. So I looked into the history of a little bit, I thought what it meant, which is, you know, the retail federation has done a great job with us thinking this is the case. You know, the two terms. When a company is profitable, you're in the black or you're in the red. If you're in the red all the way up to the end of the year, but then the busiest shopping season, you go into the black. It's Black Friday. So apparently the origins of Black Friday. Let's see here. While many people believe the term Black Friday finds its roots in the sense of black, meaning showing a profit, not showing any losses, this isn't the case. Historically, black has been associated with days of economic stress as opposed to days of booming commercial success. So the first Black Friday occurred in 1869 after financier Jay Gould and railway businessman James Fisk attempted to corner the gold market, which ultimately resulted in financial panic and the collapse of the market. A little over 60 years later, on October 29, 1929, another stock market crash, referred to as Black Tuesday marked the onset of the Great Depression. Fast forward to the 50s and 60s Black Friday. A lot of retail employees called in sick the day after Thanksgiving. So the police had a lot more to deal with because everything was chaotic. And then fast Forward to the 80s and the retail federation wanted a more positive connotation and that's when it turned into more like sales and yeah, I mean now, I mean there's nothing left in this world except trying to get you parted with your money. You know, we now we have Cyber Monday, Cyber Monday, Giving Tuesday, Small Business Saturday, Black Friday. It's like whatever marketing we can do to get your. We gotta go. It's break time. That was exciting, but we gotta go. We will talk to you in just a minute. On the other side, please reach out to us at team at another money show dot com. [00:27:16] Speaker B: Another weekend, another money show. Visit another money show dot com at Rochford and Associates. We know you've worked hard to earn your money and you've worked even harder to save it when it comes to wealth management and Planning for retirement. JR Rochford and his team of specialists have been helping individuals, families and business owners find financial freedom at their veteran owned firm for more than 25 years. Give us a call now at 625-230444. That's 623-52-30444. [00:28:00] Speaker A: Remember, all of Junior and Anthony's listeners receive a free financial consultation just for listening to the show. Visit another MoneyShow.com to learn more and schedule an appointment. Thanks for listening to another Money show and subscribing wherever you listen to podcasts. [00:28:14] Speaker D: Welcome back to Another Money show. Thank you so much for being with us. We are little fish in a big pond and just your support means a lot to us. Please make sure you know we're here if we can help you. Love to be a second opinion so and we'd love just to meet you. We've met some people from the radio show that it's been great. So quick shout out to my friends, Mike and Cindy, Rex and Debbie. We did have a great time last week being up north. We're up in Snowflake. It's a different animal. You can see the stars, there's very little traffic. The air is cleaner. It's just beautiful up there. So but we saw some friends and had a wonderful time. So if you're listening, thank you for spending time with us. So back down here, I guess the big story, I mean we're financial people so I don't know how deep we have to get, but I guess we better address it if we're talking about current events on our show. So the United Healthcare CEO that was assassinated on Wednesday, Brian Thompson, it's funny because this thing, it's growing legs. I mean this, this was within 24 hours ago that we learned about this and it's growing legs. Apparently some of the buzz on social media, the average, the average denial rate on insurance, you know, people file for their insurance to cover their whatever illness is 16%. But United Healthcare is leading the pack at double that. They have a 32%, you know, decline on your give me some money. So there's a lot of talk about disgruntled. Somebody might have been disgruntled. Today we learn they found three bullet casings at the scene and they had writing on them. The shooter apparently wrote deny on one of the casings, defend on one of them and depose on the third. So that, that could be kind of a play on something that, that has been in the insurance world for a long time. I think there's even a book out on it where people say that the. The modus operandi of the insurance companies is to delay, deny and defend. Insurance companies are. They're just profitable, you know, I mean, if you get healthier, they don't want you healthier. Everybody wants you sick. These lobbyists. We don't have health care in this country. We have hurt care. We have sick care. We want you sick because that's where the money is generated. So we, you know, we can fly a rocket up to the moon and. But we can't work on cancer and get to the root of it. I don't know. So now they're saying this writing on the bullets, you know, there's a lot of talk. Was this an amateur, a professional? Probably wouldn't go to Starbucks immediately prior. You know, I don't know. Some people are saying that, that, you know, maybe this is a professional trying to make it look sloppy to throw people off the track. You know, the gunman used a suppressor. They're calling it a silencer, but I've always thought the word was suppressor. You know, the gun jammed apparently, at least once. I can tell you if you're in the process of trying to murder or kill or assassinate one, I'm sure you're nervous unless you've done it before or you're quite the professional. So if you're. If your weapon jams, that's got to be a pretty tough. And, you know, maybe use. I don't want to give people advice on how to off somebody, but maybe use a revolver where you don't have to clear a jam under pressure. And by the way, a suppressor, it can take the velocity of the round down and make a jam more likely. So I don't know. You know, I've already read, you know, some people think this is antifa, trying to stir stuff up. Then I read that it's because we have a migrant problem and this is probably a migrant, you know, Then I read it's a grudge. Somebody's, you know, mom probably died and this person wanted revenge. I don't know. One of the things that occurs to me, to make this a little more financial, the guy made $10 million last year. That was his salary package. $10 million. So apparently in February he got busted along with some other people. They're in a Department of justice probe for insider trading. What if he was going to name names of other people that were involved in insider trading? Just, you know, that would have to do with money. And they can't have him talk. So they had somebody take him out. I don't know. His wife said that he was receiving email threats, Getting threats. You made $10 million and you're getting threats. How about you spring for 60, 70 grand a year and have at least one personal bodyguard? I mean, where was his security guy's a salary of $10 million, CEO of the largest insurance company in the country and he didn't have security. It's weird. Oh, and the reward, you know, listen up, kids in Manhattan. The New York reward right now is $10,000. So here's a multi millionaire that was offed and you're going to give somebody 10 grand to step forth, make it, you know, I mean, even in the video, there's a woman trying to run out of the scene. She might have had some information. Make the reward a million. Make the reward something juicy. And let's try to get to the bottom of this. But who am I? [00:33:30] Speaker C: It definitely doesn't seem as though all the stuff on the Internet is that they don't really care and that nobody really wants to find them. They almost talking about this shooter as a Robin Hood of sorts. [00:33:43] Speaker D: Yeah. Which is unsettling. Here's. Here's one I screenshotted. Here is. It says here, I hope the UHC CEO shooter is never identified and goes on to become a hero of American folklore for hundreds of years. Holy cow. Somebody responded to that. It's a tweet or an X or whatever. Somebody responded to that. I'm not going to openly celebrate the assassination of Uhcco Brian Thompson. All my friends are already doing that. So I'm just going to like their tweets. [00:34:19] Speaker C: Don't get me wrong, I do think that's sad. But also these big evil corporations don't have to be big evil corporations and they choose to fund shock or stockholders instead of helping people. The. The funniest comment I saw was when they're asking for help identifying him. There was a comment that said, yeah, I'm not in network to be seeing him. And that one gave me a kick out of network. [00:34:46] Speaker D: Can't help. Sorry. Wow. Instead of a 20% copay, you got a 60% copay. [00:34:51] Speaker C: But sucks that it comes to this, though. I don't want to celebrate anybody's loss of life. No, that's. [00:34:56] Speaker D: I by people are yeah, well, and this. There's no. Yeah, there's. There's nothing good about this. It will be interesting to see how it plays out if they catch the person. If, you know, I mean, there'll be. [00:35:07] Speaker C: More you think they'll start going after banks? I mean, we talk about the silent depression and everything going now. Yeah, inflation's down, but cost of living skyrocketing. All these large corporations, record profits. If people are having a harder time living, you think we'll see more of this? [00:35:22] Speaker D: Well, that's an interesting thought. I don't know. I mean, I hope it's not to the level of murder. I mean, I hope one day people wake up. Wasn't that what Occupy Wall street was about? [00:35:31] Speaker C: Occupy Wall street was essentially 2008 being this big, huge economic collapse that trickled down to everybody. It was one industry that got brought down by every or all industries, essentially being brought down by one industry, which is the housing market, trickled to everything. And it was outright greed that brought it there. No one got punished. So you get these few CEOs, you get these few bad actors that have ruined people's lives. Well, you know, right. Since everything has come back since then, I guess it's not too bad because nobody's learned anything from them. But that was what the Occupy Wall street movement was about, was essentially saying, what are you guys doing? How are we going to just keep letting these big corporations ruin it for everybody and then we're just going to bail them out with our money? So I still, I believed in the Occupy Wall street movement. [00:36:23] Speaker D: Well. And yeah, and it faded away. I mean, it didn't do any good. I mean, we brought to you a few, I don't know, a few months ago, maybe two months ago we told you about TD, the TD bank, the $3 billion money laundering. Remember we talked about that. I've been watching that to see when they're going to have to fork over the 3 billion. I did find one article on the 26th of November and bottom line, there's not a lot of information yet on it. So foxnews.com had an article. I will not bore you with too much, but I'll read a couple things. For almost a decade, between January of 2014 and October of 2023, the bank failed to comply with mandatory anti money laundering regulations that it required to flag suspicious transactions. Blah, blah, blah. We, you know, we told you about it. They were having money laundering fiestas. So fast forward in this. In all, criminal organizations laundered more than $670 million according to authorities. And the total fines were set at $3 billion without consequences for the executives. Banks can just write off billion dollar government fines, write off government fines as business expense in the future. The bank did not immediately respond to requests for comment. So this $3 billion fine is a write off? Are you kidding me? [00:37:54] Speaker C: So people are upset that these large corporations and the individuals behind them can get away with whatever they want and there's no consequence yet they don't feel the effects we do. It's the same thing that ties in with this CEO at United. [00:38:07] Speaker D: Well, and this has been going on in this country forever. Where are all the people from Enron? In jail, Anthony. No, you know, some of the people that did ridiculous things out there with companies. Goldman Sachs. There's an example for you, Timothy Geithner. Look up some history on Timothy Geithner. You know, where people that do corrupt stuff go. Timothy Geithner went to work for the US Government. Yeah. So nobody cares. You know, Enron's a great example, you know. [00:38:33] Speaker C: Yeah, well, maybe people are finally getting tired of that. [00:38:36] Speaker D: Well, but hopefully they don't get tired enough to start offing CEOs. But yeah, I mean, I know you. [00:38:40] Speaker C: Talked about the ten pillars. You talk about civil war all the time. Red states, blue states. It should be a class war, if anything. [00:38:46] Speaker D: So we will see. I mean, and I honestly believe the country still goes that direction. I, Nothing's really changed over the two and a half years, you know, I mean, I, we got 36 trillion in debt. We just brought that to you two weeks ago. And now we're at 36 point. Like, you know, we're, we're $150 billion past that now. So we're, I, it's, it's just never ending. And I don't know. I mean, are people gonna get angry one day? I don't know. So we will see. [00:39:12] Speaker C: One person was angry at least. [00:39:14] Speaker D: Well, yeah, you're right. And whoever set that person up to be angry. So maybe two or more people are angry. We will see what comes out. I mean, I really, I don't know. I mean, I think so many things are so messed up and people were just so ignorant. Apathetic people don't seem to do anything about things. So I don't know. We will see what happens. Speaking of weirdness and guns and all that stuff, I'm guessing you heard. I don't know if most people heard. SECRET Service AGENT fires gun outside Yellen's HOME I got this on the 3rd of December from Politico. A Secret Service agent opened fire after a confrontation with people trying to break into cars outside the Washington home of Treasury Secretary Janet Yellen Tuesday morning. According to an agency spokesperson, there is no evidence to indicate anyone was struck by the gunfire during the incident. Secret Service communications chief Anthony Googly Emily said in a statement. He said there was no threat to any protectees during the incident and no protectees were harmed. Well, that's a good thing. So Janet Yellen lives in a pretty nice house. I've seen a picture of it. Janet Yellen's in Washington D.C. she's one of the elites, you know, the haves versus the have nots, the important people. And there's people shooting right outside of her house. So that's interesting. [00:40:41] Speaker C: Well, wasn't the agent the one who shot at them? So him shooting at. [00:40:48] Speaker D: There was a car full of migrants or TDA or Antifa or something and they. Yeah, and it looks like maybe they were just checking door locks to find open car. I mean, who knows. Pretty bad timing and luck that you end up checking them in front of Yellen's house. And by the way, there's a flaw in this article, Politico. Janet Yellen is not the Treasury Secretary. She has stepped down. We're in between right now. Apparently, Trump has named Scott Besant, the hedge fund mogul, pro tariff, Wall street veteran, and a former colleague of George Soros that's going to be our next Treasury Secretary. I started digging already to see how much fun I can make of this person. You know, I mean, we will see. Maybe this is a good choice, maybe it's not. I have very little faith in the financial system in this country. So I don't know, maybe somebody help. I did when I started reading about Scott. Some of the stuff that I read was that he is gay and that he and his husband have two kids. And I got kind of angry with that because, you know, the right side is always saying stop with the identity politics. Yet one of the first articles I read about the new Treasury Secretary is about his personal life. I don't care if he's gay, straight, black, white, I don't care. I want somebody to become fiscally conservative and change the direction of this country financially. That's all I care about. Don't care. Kids, no kids. Don't care about any of that. So speaking of the rich and powerful, we got to spend at least a minute talking about Joey B. We got to talk about the Biden. He's in Africa right now. He's in Angola bringing more money away from our 36.2 trillion debt country to another country. Apparently this one in Africa is to build a railroad. So good on you. We're funneling the last bit of what I don't where in the heck? How does a country have money when they're 36 trillion in the hole? I don't get this, but yet he's over in Africa committing to give money to Angola. And they showed some clips of him yesterday. Apparently he fell asleep at the meeting with them. Fell asleep. I saw this clip from a couple of different. [00:43:03] Speaker C: When you're 80 years old, 82 or whatever it is. [00:43:05] Speaker D: Yeah, I guess so. So I don't know. And you know, Biden's under a little bit of fire right now for his pardoning of the sun. So Hunter, I love the fact that it's a blanket pardon not just on what he's in, you know, scrutinization currently for which is gun charges. Isn't Biden pretty anti second amendment? So, you know, ironic that his own son is one of the people that he would have problem with. So. So gun charges and tax evasion, I don't know, like a million four or something in tax evasion. So the blanket pardon covers like 10 or 11 years. So anything that might come out in the future allegedly over burisma and so forth, it's already covered. Is Biden going to come out and pardon Fauci? Is he going to pardon himself and his brother? I mean. [00:43:50] Speaker C: Well, they haven't been in court or accused of anything, have they? So I get what your argument is. Of course he was going to pardon his son. Of course he is. There's no reason to talk about. Because of course he was. She lied about it. [00:44:05] Speaker D: And that was you. Sam just asked on the board would I pardon. You would too. I would. [00:44:11] Speaker C: Not you 100. [00:44:12] Speaker D: I'm looking for things to set you up with. So you go to jail. No. Perfect. Anybody's gonna pardon their son. But you know what? There's a little difference between you and Hunter. I think like you're honest. [00:44:22] Speaker C: He has way more fun than I do. That is actually let's. If Hunter Biden runs in 2024, there's a vote. He's got one vote for me from me. Well, this, this at least they make things interesting. [00:44:36] Speaker D: This whole thing, the crime families, you know, the. I won't name Clinton's or Bushes or, you know, any of that because I don't want to hang myself. But I can tell you this. This has nothing to do with real life and people. This is the haves versus the have nots on steroids. The elites are so distanced from regular people. [00:44:59] Speaker C: The whole conversation of this show all come in full circle. [00:45:02] Speaker D: That's what we do. That's when you have OCD and ADD and mental problems that you, you always make your way back home. No. So, yeah, no, it's just this whole thing with the pardon. What a crock. And you're right, Trump did it too. What was it? His daughter's father in law was. And now he's going to get. [00:45:19] Speaker C: He said he wouldn't, he said he wouldn't, he said he wouldn't, he said he wouldn't and then he did. So the lying is what gets me, of course. But then it was like, well, what about all Trump's lies? I was like, well, all of these leaders, all of these political figures, well. [00:45:32] Speaker D: And I'm going to be the party. [00:45:34] Speaker C: Of high standards and then do all the same crap that you accuse everybody else of doing. [00:45:39] Speaker D: Well, and related, slash not related. You know, when you look at Trump coming into office, one thing we're not used to from politicians, when they want to get elected, they say, I'm going to do this, this and this. And then they don't do this, this and this. Trump said, I'm going to do this, this and this. And he came in and he did this, this and this. That was refreshing. So maybe this time the old drain the swamp. I want people that do corrupt, crooked things that are representative to me. You work for me. I want to see a bunch of people go to jail. I don't give a crap, Anthony, if they're on the right or left. I don't care if they worked for Trump or they worked for Obama or they worked for whomever. I don't care if they're doing shenanigans and nefarious things that would put me in jail. I want them to go to jail. I don't care. They actually, I think if I do something wrong, I'm a little dumbass fish. And it doesn't matter if you run the free world, you are, you should. [00:46:32] Speaker C: Be in more trouble held to a higher standard. [00:46:34] Speaker D: Yes. So pardon that Biden, of course. Anyway, and it's funny because a lot of the Democrats are turning on Papa Joe too. [00:46:43] Speaker C: I noticed, yeah, there was quite a few articles and news bits about how they're not not happy about it. And I think that's why is again the lying. Don't say you're this better party and have all these high standards. Because again, he could have said, all he could have said is, I don't know, I don't know, I don't know, maybe. But he said no, but of course all the time and then did it. [00:47:05] Speaker D: He could have said of course I am. What's the difference when you go to pardon some? If you said yes or no, it doesn't matter. He's just a chronic. Well, never mind. You sent me one article from CNN which is leaning left I think, and it says here Democrats left fuming over Biden's decision to pardon his son after he repeatedly said he wouldn't. That's from CNN Politics. The only thing I will read to you is in the days before the pardon was issued, Hunter Biden's attorneys circulated a 50 page document outlining the six year investigation of the President's son, blaming Donald Trump and Republican allies for being the driving force behind his legal problems. What the actual heck, you're going to turn Hunter Biden situation around and say Trump, you know, Biden comes out and says the only reason my poor baby was, was under investigation was because of who I am. He wouldn't have been under investigation if he wasn't Biden's son. Are you kidding? We've seen the videos with the crack pipe and the girls and we've seen enough evidence to say that's not true. [00:48:13] Speaker C: Well, it's the same argument as all the felony charges for Trump. Right? Like those would not have been felony charges for anybody else. Those would have been misdemeanors and it would have kind of flown under the radar. But because it was Trump, they became felonies. [00:48:27] Speaker D: Is Biden going to pardon Trump as long as he's on a spree of pardoning, is he going to pardon Trump for all that? Probably not. [00:48:35] Speaker C: Funny. [00:48:36] Speaker D: I will. One more thing from this article you sent me. I like a couple of these quotes. As a father, I get it, said Representative Greg Landsman, an Ohio Democrat. He said on X, but as someone who wants people to believe in public service again, it's a setback. Who, who on earth if you believe in not Santa Claus because that's too close. But if you believe in the tooth fairy, you also probably believe in public service. Another Democrat, Colorado Senator Michael Bennett, said Biden's decision placed personal interest ahead of duty and further erodes Americans faith that the justice system is fair and equal for all. If you believe that this country has a fair and equal justice system, I want to talk to you. So Democratic Rep. Here's one that hits close to Arizona. Greg Stanton of Arizona said that while he respects the president. Do you Greg? I think he got this one wrong. This wasn't a politically motivated process prosecution, Stanton said on X, Hunter committed felonies and was convicted by a jury of his Peers. No kidding. You know why Biden pardoned Hunter? Anthony, let me share some insight. This took me a long time to figure out because he is going to need pardoning and he is going to come to life because he's the big guy and all of the stuff that Hunter did, he got 10% of the reward. So yeah, no, this is way deeper than Hunter. This is Joe also. So here's one from msn.com on 112124 Biden administration loosens immigration restrictions ahead of second Trump term as a last ditch effort. If you get a chance, look that up. 112124 msn.com it's pretty funny. Yeah, we all know what's happening. There's a new BPA1 app that's just letting people come in like crazy. Another article from Zero hedge on 2 December cartels demand higher border crossing fees after Trump victory. The article is really good because basically they give, they give amounts that you have to pay if you want to get across the border. And they're much. [00:50:58] Speaker C: I'm curious. [00:50:59] Speaker D: Yeah, it says here previous fees of $5,000 have risen to at least 10,000 as illegals from all around the world including Africa, Asia and Central America. [00:51:08] Speaker C: Tribe is hitting everybody. Nobody is safe. [00:51:13] Speaker D: Chinese illegals are paying 55,000 per person. One more thing and then I'll let you take us out. Zero hedge also from 12 this one is from December 3rd. Open borders have created a terror attack time bomb in the US in 2025 and it basically says the summary is when, when human Homan, whatever his name is the new, the new mayorkas dude when he goes to export migrants back to their own places of origin that a lot of people that have nothing to lose and are here illegally may create a ruckus and basically they don't want to leave so they might attack us. So very interesting. Make sure you subscribe to Zero Hedge because you will become one of me's if you do. I think that's all I have Anthony. I got several more articles but don't do that. [00:52:04] Speaker C: As to yourself, don't, don't be a junior. Let JR be a junior and then he can give you all that information. [00:52:09] Speaker D: Great news. Join me kids. Join me. [00:52:11] Speaker C: Anyways, that's it for today. If you like what you heard, you have questions on any of the topics today or you want to sit down with us to review your personal situation, reach out to us. 623-523-04 number again, 623-523, 0444 shoot us an email at teamnothermoneyshow.com you can contact us through the website. Anothermoneyshow.com book appointments straight from there. Remember, there's no minimums, there's no cost for appointments. There's nothing to lose by getting a second opinion on your financial situation. We'll see you again next Saturday at noon. Ray are 960 the Patriot and re airings at 1pm on Sunday. [00:52:55] Speaker B: Thanks for listening to another money show. You deserve to work with a private wealth management firm that will strategically work to protect your hard earned assets. To schedule your free no obligation consultation, visit another MoneyShow.com investment advisory services offer through Brookstone Capital Management LLC, BCM. A registered investment advisor. BCM and Rochford Financial are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results. [00:53:33] Speaker A: Fixed annuities, including multi year guaranteed rate annuities, are not designed for short term investments and may be subject to restrictions, fees and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuer UFC's media rights is up for grabs in 2025 and a variety of different platforms, including Netflix, could be throwing their hat into the ring. I'm Jim Tarabokio with the Retirement Radio Network powered by Amerilife. Ultimate Fighting Championship CEO Dana White recently sat down with CNBC to discuss the possible framework of the organization's next media rights deal. [00:54:10] Speaker C: Will it be Disney? Will it be YouTube? [00:54:12] Speaker D: Will it be Amazon? [00:54:14] Speaker C: Who knows. But yeah, our rights deal is going to be a big deal coming up here and who knows, we could end up like the NBA in the NFL where we end up on on multiple channels instead of just one. [00:54:25] Speaker A: UFC's current deal with Disney ends at the end of 2025 and TKO Group holdings owns both the UFC and World Wrestling Entertainment. Significant because earlier this year the WWE and Netflix agreed to a landmark streaming deal that will see the streaming platform Air WWE's Monday Night Raw beginning in 2025. That agreement opened up a further possibility of the UFC following in the streaming footsteps of their fellow subsidiary. Netflix has shown early aggression and has reportedly entered negotiations with the UFC regarding the media rights. TKO Group Holdings CEO Mark Shapiro recently told cnbc the ownership group prides themselves on being ahead of the curse, so. [00:55:05] Speaker D: We'Ll be negotiating on all fronts if you will. Ari and I will have a pretty big first quarter as we go around the merry go round, if you will, to talk to the different players who are interested, potentially splitting the packages. We've got linear, we've got digital, we've got pay per view. I mean, there's a lot of options here. We're going to explore all of them. [00:55:25] Speaker A: While details are still under wraps, Insider suggests that Netflix aims to leverage its global reach to attract new UFC fans, offering exclusive behind the scenes footage, athlete profiles, and maybe even live coverage of major events. This potential partnership could see live MMA fights broadcast on the streaming giant for the first time, a move that would bring UFC content to millions of households worldwide. And with the growing popularity of combat sports, Netflix push to diversify its content lineup could be a real game changer for the platform. For the Retirement Radio Network, powered by Amerilife, I'm Jim Tarabokia.