Digital Currency, Flying Food and the Future!

[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. [00:00:13] 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 income, reduce their tax risk and reach financial freedom. So let's start show Here are your hosts Anthony Correo and Junior Rochford. [00:00:36] Speaker C: Here we are, your hosts Anthony Correo and Junior Ratchford taking a break from our day to day as financial advisors with Rochford and Associates, a fully independent fourth generation family office right here in the greater Phoenix area to bring you news you may not be hearing on those other financial radio shows. We're aware the last thing you need is another money show, but we appreciate you being here. And I do want to say too, for those people listening to the show, we do have a brick and mortar. We have a real office. We had somebody reach out last week after the show and asked if we were really here and the answer is yes. Yes we are. 98th Avenue in Bell. Come visit us, I guess. And Junior and I are in and out of the office all the time but Macy's usually there. Macy'll say hi. [00:01:20] Speaker A: Well and given some notice if you want the office dog to be there, he can be. We we did have a couple in the office this week whose whose son came with him and he's not good with dogs so let us know. But we haven't fine though it was [00:01:34] Speaker C: always hit or miss so it was better to be safe. [00:01:36] Speaker A: But yeah, well and the other brother and I hung out with the dog and we had a great time so I got to learn all about paw patrol and all kinds of things. [00:01:45] Speaker C: And if you want to see pictures of the office dog. I just revamped the Rochford Financial website so changed it up. We had somebody help us make a website before and I feel like, I don't know, it was very generic. It wasn't really us. So we updated it. So if you see typos and stuff on there, that's my fault. I'll get to it. I'm a terrible speller. I just needed to publish it. I've been working on this for months. I don't know how to build websites so seems like it turned out okay. [00:02:13] Speaker A: I think it looks great I looked at it last night and that was actually one of my shout outs was to give you a shout out because as a engineer turned financial advisor turning web design developer, you're doing pretty good. So if this job doesn't pan out for you, you're going to have something new to fall back on. No, it looks really good. [00:02:29] Speaker C: Need a new career change. So it's getting to be that time. I was an engineer for seven years, financial advisor for eight. So now what do I do? [00:02:37] Speaker A: Web designer. I mean, maybe you're not paying attention to your own. So it does look good. I will tell you something, financial advisor websites are maybe not the most exciting thing on the planet. I mean, you know, I know you took off the market ticker that shows what the market's doing that day because who cares? But I mean, if you want to see grass grow or paint dry or whatever, they're okay. And just how much can you do? You know, you have a blog on there if somebody wants to read about how to work on their estate planning without an attorney. You know, if you want to read about whether Ken Fisher's right on annuities. So you've got some really good blogs on there. The best thing is in the pictures. You got pictures of the office dog. So that's the big draw. [00:03:17] Speaker C: So you'll have my favorite picture of you and Jay on the motorcycle and then the one of you laughing I get a kick out of. Plus the high school photo. I mean, all of yours are pretty great on here. [00:03:28] Speaker A: Well, there's a baby picture. You. [00:03:30] Speaker C: Yeah, because I was the most adorable then. It's been all down. [00:03:35] Speaker A: It's been a rough road since your baby. Maybe we should get in the show. So the other shout outs we have for today, I guess not much. You know, we did have some new people come in. And yes to the young lady that called in. Yep, we have an office. My father used to. He wasn't a fan of people that didn't have an office. He called them trunk slammers. They would, you know, do the kitchen table sale and then, you know, they could be gone. You. You didn't know how to get ahold of them. So we, we. And we are out and about too. Like Anthony said, we're in and out. So we work by appointment only. So if you give us a little notice, we are more than happy to come to you. We've. Yeah, so. And we are licensed in multiple states. So if you're out of state, don't let that stop you from seeing if we can help you on Shout Outs. The. The big thing is once again, Jason, Jack, Joe, thank you so much for having me on Mondays. I'm a regular guest now on Mondays at 9:00 o' clock in the morning on 10:10am Family values radio. So that's been fun. I'm not sure if I'll be on next Monday because it's Columbus Day or what is it now, Indigenous Peoples Day, whatever it is, but. So I don't know if I'll be on next Monday, but normally on Mondays I'll be there 9 until 10. The other thing next week also on Tuesday, we're at Throne, our monthly networking happy hour. I used to be able to say West Valley men's networking, but we opened it to the public so we are officially co ed. So come and see us if you want to meet us without coming in the office or just casual meeting, come, come meet us there. The food's pretty good, the drinks are good. You know, they have craft beers if you don't drink. They have soda and other stuff too. [00:05:17] Speaker C: So people show up that don't drink. [00:05:19] Speaker A: So yes, I noticed that. Which is just fine. I mean it's. And it's not. I mean when you hear the word networking group, don't picture BNI. There's no dues, there's no speakers, there's no 30 second commercials. It's just casual. And over the years, I mean we knew that for over four and a half years. So over the years we've noticed that, you know, I mean if you need an auto mechanic, if you need a precious metals dealer, we've got people that do about anything. You could need that. We have that go to the happy hour. Some every month, some pop in, pop out. So come see us at Throne 4 o' clock next Tuesday. That is October 13th. We look forward to meeting you. Let's jump right into it. As you know, this is not an hour long infomercial. We, we, if you have an old 401k that you need to have somebody look at, if you've got CDs coming due, if, if you know somebody needs life insurance, instead of calling Big Lou, call us. I mean we're a little more personal. So anything you need, estate planning, I mean, you know, we do it all Roth conversions on here. We talk about current events and how they are likely to affect your future. Well, your future includes your finances. So the reason that we are a little bit different on here, we want to sound alarms, we want to wake people up. The world is not what it seems. If you watch Just the mainstream news, you know, we're busy. You have kids, you have work, if you're retired, you have golf, you have travel, you have grandkids. But we're busy. We don't have time to do what I'm doing each week, which is literally spend about 8 to 10 hours a week looking for information to package for you. One hour a week, and that is every Saturday at five in the morning and again at noon. And you know, podcasts, we have a YouTube channel. We went over 550,000 views of our little shorts and videos on the YouTube channel. So thank you for supporting us on that. The world, when I talk about the world's uncertain. Actually, before I do that, let me do a couple of quick follow ups. Last week we talked about McDonald's and I and I had brought up an article that said that they're going to put eight and a half billion dollars into, you know, revamping their stock is on a really bad downturn this year. So sure enough, after we did the show last week, boom. Found an article right away. I found it on September 30th. From the end time headlines. McDonald's is spending 8.5 billion to replace humans with an AI called Archie in their drive thrus. So if they're going to bring back play places with ball pits, I don't know any of that. But this is where I think the whole future is going. So let's see here. McDonald's is putting an artificial intelligence system called Archie in its drive thrus as part of an $8.5 billion modernization push through 2036. [00:08:13] Speaker C: Whoa. [00:08:13] Speaker A: For the next 10 years, even after an earlier experiment with automated ordering collapsed. Welcome to McDonald's. Can I take your order? May soon come from a machine. Archie is designed to take orders, pitch an extra item and help make sure a Big Mac and nuggets actually land in the bag. Archie is basically like another employee to us. One McDonald's worker said during the company's investor day presentation. So, but you know, when you think about Archie, no smoking breaks, no workers comp, no 401k, no health insurance. I mean, you know, yeah, I don't know what they cost. 30, 50, 60, 100 grand. And that's a one time investment. And then for the rest of the life of Archie, other than, you know, a little lubricating grease on his elbows and so forth, it's all going to recoup the cost. They're replacing people. Come on, let's look at the end of AI. It is replacing people. No matter how you want to justify it? A couple more things here. [00:09:09] Speaker C: Well, it's funny because last night I actually dealt with my first AI you call in to talk to a company. I think I told you my garage springs broke yesterday, so I needed to have them fixed. And the company I called had an AI bot answer. And I wasn't really sure how to deal with it at first. I wasn't sure if it was a robot at first either. It definitely sounds like a person, but set an appointment. Nobody showed. I called back. They never actually set my appointment. So the AI bot almost lost in business. [00:09:39] Speaker A: That is not good. Not good. And I'll tell you what, by the way, a garage spring is not something you want to do yourself. I learned that lesson the hard way one time many years ago when I was a little bit frugal on the frugal side. Those are scary too. If you mess up with replacing a spring, it will scare you for the rest of your life. Like, I don't even like using my garage door anymore. I just park outside so I don't have to use my garage door. Because I actually tried to install a sprint and it didn't work properly. [00:10:02] Speaker C: I don't mind doing myself, but that one was not one I wanted to take on. [00:10:06] Speaker D: Smart. [00:10:07] Speaker A: Very smart. Well, when you were little, we lived at a house on Evans Drive in Desert harbor and I tried to be a d. DIY Spring dude. Didn't work out so well. It still bothers me to think about it finishing up here on McDonald's. McDonald's told money wise the new tool is already. Archie, are you. A new tool is already taking live drive through drive thru orders in English and Spanish and getting them correct more than 90% of the time. That's fantastic. So there's only a 10% chance that you're going to, you know, accidentally give me an apple pie instead of my filet o fish first attempt. Whether Archie becomes just another employee or another expensive misfire will be decided one order at a time. That's fantastic. Moving on to McDonald's. So we also talked about, we talked about Berkshire Hathaway, Warren Buffett. Is that Jenny Buffett's brother? Are they related to. So from. [00:11:00] Speaker C: It seems very casual, very similar people. [00:11:03] Speaker A: Hawaiian shirts, guitars, hamburgers. I don't know. So Warren Buffett. This is From Fortune on the 4th of October, Warren Buffett's first tax bill at age 14 was $7. Now Berkshire Hathaway is almost 27 billion and he still says the rich don't pay enough. So I just, I found this interesting because, you know, I mean, this guy's had an amazing life, you know. Sam asked last week if he's going to start, you know, spending the fruits of his labor. I think he's going to go wild. So. Warren Buffett, who is worth $142 billion today, was once the richest man in the world. Started out making mere pennies as a teenage paperboy. The oracle of Omaha thought filed his very first tax return in 1944 when he was just 14 years old. For his earnings delivering newspapers in Washington, D.C. he owned only. He owed only $7 in federal taxes. That year, he earned $592.50, just barely over the requirement at the time to file a return for gross income of 500 or more. Today, his earnings would be worth $11,406.65. That's kind of surprising. From 1944 to now, 600 bucks only goes to 11,000. His taxes would equate to $134.76, according to CPI inflation data. That's a far cry from the $26.8 billion Buffett and his company Berkshire Hathaway paid in 2024 taxes, according to his annual shareholder letter. That was the highest ever payment made to the US Government at the time. Just a couple more things here I found interesting. He took control of the struggling textile manufacturer. I had no idea the history of. Berkshire Hathaway was a struggling textile manufacturer in the mid-1960s, transforming it into one of the most valuable companies in the world. He's still. He's worth 142 billion. The arc of Buffett's relationship with the IRS is, by his own account, a strange one. The man who meticulously documented his bicycle repairs at age 14 became, decades later, one of the most prominent voices arguing that people like himself are under taxed. He once pointed out that he pays a lower effective tax rate than his longtime secretary, Debbie Bossinek. Debbie works just as hard as I do, and she pays twice the rate I pay, he told ABC News in 2012. I think that's outrageous. You know, or if you're listening, I met him once. So instead of War Night and call him War, I met him at Piccolo's Pete's Steakhouse in Omaha. So. Or if you're listening, it's optional to pay taxes. Like extra. I mean, it's not really optional to pay what you have to pay. Even though some people say taxes are against the Constitution and illegal. I won't say that, but anyway. So you could always have sent in A check for double what you owe, dude. So Warren Buffett continued to make the case publicly. At Berkshire Hathaway's 2024 annual shareholder meeting, he predicted that higher taxes were quite likely. I'd say that's coming. Citing fiscal policy and criticized other companies for constantly scrutinizing the tax code for the smallest loopholes. The government may decide that someday they don't want the fiscal deficit to be this large because that has become somewhat important and has consequences, Buffett said in 2024. And they may not want to decrease spending a lot and they may decide they'll take a larger percentage of what we earn and we'll pay it. So you are right on track one. I do think taxes are going to go up. So we, we shall see. But I think that's going to come. I do want to tell you something. So maybe, maybe taxes are going to change dramatically. I did read an article on 24 September from the end time headlines that stuck in my head. Over 40% of Americans now have a positive view of socialism. Wrap your mind around that 40%. That means in the next two years, three years, I don't know, is the trajectory to be. Half the country thinks it's a good idea. I'm only going to read two lines from this because you know, we can't stop this. According to a report from gallup.com 43% of Americans now say they view socialism positively. The first time that share has climbed above the 39% in the polling firms tracking since 2010. Higher income households are more positive toward free enterprise and capitalism. Lower income Americans are more positive towards socialism though. It only ties capitalism among them. I don't know what that means. The bottom line, if you are, let's say you're in your 20s, you're young in your career, you're young in life, you're young and you're voting houses, brand new houses, you know, starter house, 300 to 400 grand decent house, 400 to 700 grand, 7 and a half percent interest rate currently, you know, your wages are not keeping pace. Anthony. I do this a couple times a year. You know, you can't raise the minimum wage enough to get through this. So of course you're going to turn to socialism. The only problem is it doesn't work. That's, that's the only little flaw in it. It doesn't work. It's been tested. It's been tested in other countries and it doesn't seem to work. So I don't know the answer. I know it's not fair to younger people. I also know that if you're, you know, blaming everything on the baby boomers, it's not really our fault either. Maybe we should all point the finger, figure at some of the ridiculous overspending that our government, our representatives are our officials do. You're 40 trillion in debt. You don't think sending checks to everybody because we had a disease, you don't think everything going on is going to lead to inflation? I'm just amazed we don't have hyperinflation. So I don't know. And look at France, you know, Anthony, Sam, you guys, you've, you've been world travelers, you've traveled internationally. I have to. When I was younger, spent a little while, actually, I was at Baja Mar. That's, that's international travel. That was just like, I don't know, a year or two ago. So France is a good, a good indication of what we may be able to expect coming up in the next decade in this country. You know, started out with school. The school kids, they didn't like the conditions, they didn't like the hours, they didn't like certain things in the schools. That's how it started. But you know what happened from there? All of a sudden that led into, you know, the bond prices over there, it led into the financial structure and then boom, the gates open and all of a sudden you see Palestinian flags, antifa flags. All of a sudden the anarchists decided that this is a great time to start stirring the pot. So now it's gone from schools, into financial, into immigration, and how the country as a whole has changed. So if you have travel plans to France right now, you may want to be careful where you stay, where you go, where you fly in, I don't know. So watch some of the videos. You know, one good thing about the Internet with that thing that Al Gore created, One good thing about it, these videos of the unrest and rioting in France. There's a lot of them and they're amazing, like 4k def high. I mean, whatever it is, it's interesting. And this is right, it's right now. It's going on right now. So as long as we're out of this country for a moment. So have you heard anything about Russia and the potential black swan event? Sam, I know you're with me right now. I'm guessing you've heard a young woman passed away. [00:19:05] Speaker D: Yeah, I'm also not feeling well myself, so. [00:19:08] Speaker A: Oh, boy. Little concerning you might be patient number three. I heard a second one. I I've heard it talked about, but I haven't gotten proof yet. I heard a second person died from that lab, so I don't want you to be the third. I feel like I'm fighting off a cold. Maybe I'm fighting off a pneumonia. So do you, do you want to hear a little bit from this article? [00:19:29] Speaker D: Oh, please. I would like to know more about this because this is, this is a legitimate concern. [00:19:34] Speaker A: Well, yeah, especially after we went through Covid and this could be Covid 2.0. Presumably they got 197 people quarantined. You know, I mean, so let me, let me get to this article. And by the way, I should have said this up front. We're recording a day early today, so by the time you hear this show, there could be a lot more answers on this. We're actually recording on Wednesday, 7th October. So when you hear this, you'll know more than you're getting now. But just to touch the surface, because this is definitely a current event that may affect our future. And yes, some people are calling it the October Surprise. I've heard people say, oh, that's great, just in time for the midterms. So I don't know, but let's see what, let's see what they say here over at the end time. Headlines on the 4th of. And the 4th today is already the 7th. So US monitoring suspected fatal pneumoniac pneumonia, pneumonic. I don't know how you say this. Pneumonia. So pneumonic plague case in Russia. Urging Moscow to share accurate information quickly. We're kind of in a World War three by proxy with Russia. What makes us think we have the right task then to come clean on anything? You know, we're supplying arms and so forth to Ukraine and lots of money, which may also spur higher taxes coming up. Anyway, so the State Department is monitoring reports of a suspected. Suspected fatal pneumonic plague. Is that like bubonic, except pneumonic? In Russia. And is pressing Moscow to release accurate information quickly while key details remain unconfirmed. A State Department official told Fox News that the United States is aware of reports of a death in Ur Kurtsik Oblast, a region in southeastern Siberia, and is tracking the situation with Centers for Disease Control. Man, I'm having trouble today. And Prevention and other federal agencies. The official stressed that many facts have not been verified and called on Russian authorities to disclose what they know. Former CIA officer Dan Hoffman told Fox News Digital that the U.S. intelligence community is likely gathering all source intelligence on the incident. I'M sure that's true. Pneumonic plague can be treated with common antibiotics, particularly when care begins early. The official said the CDC advises that appropriate therapy should start soon after the plague is suspected with patients receiving intravenous or oral antimicrobials depending on how severe the illness. Well, I read another article that it said that this is the most deadly thing ever. I read another thing that's, you know, compare this to anthrax and said that they think it's going to go antibiotic resistant. So I don't know. Is this Covid 2.0 October surprise? I don't know nothing. Burger? I don't know. We'll have to see how it plays out. But I want to bring it up because by the time you hear the show it might have grown legs. Let's see here. Do we need. And Sam, what's so funny is when we talk about like Anthony always says, but we've had, you know, the, the black plague. We've had world wars, we've had great depressions. It's just since we've been on the air four and a half years, we've had them all. We've had, we've had all this stuff at one time. So I, I don't know. Seems, seems crazy to me. I did read one follow up last night. I forgot about this. I screenshotted this screenshot. The story just took a very disturbing turn. This is just from last night. A former senior US arms control official is warning that the mysterious death of a 28 year old researcher at a Russian anti plague institute could be potentially. It could involve something far worse than ordinary plague. Marshall Billingsley says a former Soviet bioweapons official previously told him that that scientists had worked on a antibiotic resistant plague and even plagued chimeras. What is Chimeras? C H I M E R A S Chimeras involving multiple pathogens and specifically linked to Irkutsk to save. I need to learn Russian before I talk about Russian stories to the Soviet biological weapons program. So I don't know. So Anthony, Anthony had to step out for a moment I think to see his garage door repair AI robot. And we've talked about France. You're a world traveler. Have you been following anything going on in France? [00:24:14] Speaker C: Not lately. What's going on in France? [00:24:16] Speaker A: Just take a peek this afternoon. You'll be amazed. There's rioting like. And I know they ride a lot. That's, that's a lot of their culture. But there's a lot of rioting right now. Started with school kids with unfair conditions, according to them. And then all sudden the. It grew a little bit into the financial state of the country. Now they're saying there could be contagion into Italy and other countries. [00:24:37] Speaker C: Well, the last one was about them trying to raise the Social Security age or whatever their equivalent is. Good on France. [00:24:44] Speaker A: Yeah, good on France. And now we're talking about bonds and we're talking about money. And then all of a sudden the, the antifa shows up and the Palestinian flags, and now it's on immigration. But it's pretty, it's. It's pretty wild. Some of the videos are very. They'll shake you up a little bit. And then we went to Russia and talked a little bit about a mystery plague. And the only thing he missed on that is we don't know what to expect. You know, we're recording on Wednesday, so by Saturday morning people will know more. But, you know, you got to watch out. You know, some people are saying, oh great, right before the midterms. Is it the October Surprise Covid 2.0 or nothing? I don't know. We'll see. Let's move on. [00:25:24] Speaker C: Speaking of Russia, you familiar with the activist punk band over there, Pussy Riot? [00:25:31] Speaker A: I've heard the name. I have seen pictures them because the name stopped me in my tracks. Continue. [00:25:38] Speaker C: Turns out one of them was a Russian asset for like the last few years. [00:25:42] Speaker A: And a great musician, one heck of a musician. So that's kind of multitasking. I mean, it's good to have a gig economy side job. So, like, you are a financial advisor, but you're also on the side of web developer. So I get it. So I. Apparently when you meet me in person, you know that I am somewhat of a food tester on the side. I'm a financial advisor, but a amateur food tester. Yeah, no, I did not know that. That's interesting. [00:26:05] Speaker C: Yeah, that's new news, like in the last week, I believe. [00:26:10] Speaker A: Yeah, I mean, I heard the name [00:26:11] Speaker C: of that man years ago, a couple of days. But it's very interesting. [00:26:16] Speaker A: It's a small world. So as long as we're out of. As long as we're out of the country. Let's stay there for a minute. I'm not going to spend a lot of time on this. Maybe I'll get back to it later. You know, I touched on the banks, you know, here lately. I'm. I'm trying to ramp up my, my, I'm trying to get people aware of the banks and how there's no money and how there's 1.43% coverage on our money through the FDIC. I want to tell you how it ends. [00:26:42] Speaker C: And obviously teased for break time looks like. [00:26:46] Speaker A: Oh, geez, this half an hour went that fast. Okay, well, why don't we do this? Why don't we? That'll be our segue slash tease for what's coming up next. We will be right back. In the meantime, thank you so much for being here. You know, we appreciate it. Do check out the YouTube channel, help us like share, subscribe and come in to see us. We'd like to be a second opinion on your finances. You know, we know this is great fun every week for you, but we'd also like to help you with your finances. So reach out to us. We're at 623-523-0444 or you can email us team another money show dot com. Oh, one last thing. You can go to the brand new website, see pictures of the dog, and you can set an appointment right through there. Good job, Anthony. [00:27:30] Speaker C: And that is, that's at Rochford Financial. We haven't updated the Another Money show and we got to link the two websites. They're not linked, so yes, we need a link. [00:27:38] Speaker A: So. But you can always see the new website for our business@rochford financial.com. we'll be right back. [00:27:46] Speaker B: Stay right there. Another Money show returns in moments. And be sure to subscribe to the podcast and leave a review. Welcome back to Another Money Show. To schedule your free, no obligation consultation with JR and Anthony, visit anothermoneyshow.com or call 623-523-0444. [00:28:15] Speaker A: Welcome back to Another Money Show. Thank you so much for being with us. You know, we greatly appreciate it. I always say we're little fish in a big pond and we need your help. So we need it and we value it. So thank you so much. You know, we talk all the time about how on the radio we're doing current events, but in the office, we, we're actually, we're helping people. We're financial guys. So one person, one cup or one family at a time. We are helping people in the office. I will tell you, I mean, I'm, I've been very, very suspect of the financial markets. You know, we're, we're literally at 17 and a half years from 3-9-09, the bottom of the 2008 correction and Covid, the biggest black swan event in the history of the world came and went one month downturn, 2022, 2024 there were a couple challenging times, very minor compared to 2000, compared to 2008. So I think we're way overdue. We need you to be ready for a potential drop. We need you prepared, not scared. We need you proactive, not reactive. We need to look at your statements with you. If you don't have anybody doing so and you're not doing it yourself or whatnot, you know, we're never poachers. If you've got somebody doing a great job, we, we'll be glad to be a second opinion if they're doing a good job. We are not gonna try to take you. I give you my word. So the big firms with their pressure and quotas, I can't answer for them. But I can tell you, for us, we will always be honest and ethical. So, you know, yesterday, the s and P500 and the NASDAQ, they both set records. Think about this. France is under siege. Russia, you know, global pandemic, plague could be released. Healthcare, borders, politics. I mean, the whole world is insane geopolitical, and yet the markets are setting all time high, record after record. Do you think it's because of fundamentals? Do you think it's because of PE ratios that are in line with traditional growth? Or do you think it's just one day? And they're down today, by the way, again, today's October 7th. I looked in on the markets before we started recording. They're down. So right away I look at to see why, who tweeted what, and of course today, because gas prices, the price of the gas retreated slightly the last couple days. And you know, the war might end one day. That's good. So everything, the bonds, the 10 year, the 30 year, they're over 5%. Everything is lined up. So there's gonna be changes. So we want you to be proactive, not reactive. Come in and see us now. And one last thing. Some of you have been really, really wonderful to us. We want you to share us with other people. We want you to help us. You know, I hate the word referrals, but I don't know what else to call it. But we want your help. So with that shameless plug behind us, why don't we get back to what I brought up before the break? So when we talk about the banks, I think this is global. I don't think this is just the United States. I have some further updates for you on banking changes. I know last week I talked about U.S. bank and their U.S. bank digital currency. So I have some new stuff for you today. That'll show you that the whole world is going toward a digital currency. You better be ready. We need to help you. So Canada's six largest banks are exploring a tokenized deposit system for Canadian dollars, which is not a central bank digital currency. So that's how they're going to say we're never going to go to a cbdc, we're just going to go to a token. We're going to go to a tokenized deposit system. So that's great. I like the semantics here. The initiative aims to enhance the speed and efficiency of interbank payments while keeping customer funds within the regulated banking system. That's good. So I'm still going to have my money, so don't panic. [00:32:01] Speaker C: Great. [00:32:01] Speaker A: I got it. Canada. Overview of Canada's six Big Banks Initiative. Canada's six largest banks are not developing a central bank digital currency. Instead they're exploring a tokenized deposit system for Canadian dollars. The system represents traditional bank deposits as digital tokens allowing for faster and more efficient interbank system payments. Does that sound like the US with FedNow? Key features of the tokenized deposit system. Nature of the system. Tokenized deposits are digital representations of conventional bank deposits. What does that mean? We've told you, there's no money. There's only lines and dots on a screen. You don't have piles of cash in the back in the safe of your bank. You have to make an appointment if you want a sizable amount of cash. They don't have any money. So see here, they are not classified as a cbdc. That's the third time you've said that article. Goals to enhance the speed of interbank transactions. Enable around the clock payments, Maintain customer funds within the regulated banking systems. Here's the participating banks and here's why I think even though you're not in Canada, most likely as you're listening to this, you need to know about this. The participating banks are Royal bank of Canada. Have you ever heard the name rbc? Sam or Anthony? Most people have rbc. We see statements regularly from rbc, Toronto Dominion bank or the TD bank of Montreal. I have an account with bmo, bmo, whatever you want to call it. I used to be at Harris Harris bank but they were taken over by BMO bank of Nova Scotia which also goes by Scotiabank, Canadian Imperial bank of Commerce, the CIBC and the national bank of Canada. So my money at BMO in the United States they are testing how to say you don't have any money, you have tokens. It's coming kids. Let's go. To Europe for a second. Europe, you know, the one that's on fire. France, England, Britain, Italy. Anyway, Pontes, I guess that's how you pronounce it. P O N T E S is the Euro systems distributed ledger technology. So what do we have over here? Over here we have the tds. Tds, why does that, why does that acronym sound familiar? We have TDS in Canada so but over in Europe they have the dlt the distributed ledger technology solution that connects market DLT platforms with target services to settle DLT based wholesale transaction using a central bank money. Its initial launch took place. It took place. It's not going to take place. It took place on 21st September 2026 with further improvements to come step by step. So Canada hasn't launched yet. My money at BMO is still where I can go get it I presume if, if you got any money in Europe, you know we have dual citizens. We've, we've got people that have money in New Zealand, Canada, different countries. Let's see here overview of Pontes Pontes is the Eurosystems distributed ledger technology solution does it's a solution designed to facilitate the settlement of DLT based wholesale transactions using central bank money. It connects various market DLT platforms with target services which is the European Central Bank's core settlement infrastructure. The key features Launch date Puntes was initially launched on 9-21-26. Settlement mechanism it allows transactions to be settled in central bank money ensuring a safe and liable method for financial transaction. Okay, I'm going to stop here but anyway what I'm trying to get at for you here is digital currency is coming. Our country, our president Donald Trump said no to the cbdc. I mean Anthony, I'm sure you remember that it was a couple years ago when he got his second term he said no, we are going to do some executive order to ban CBDC. And all he has to do now is say well we're not, we're not going to have it. We're to going, going to have a tokenized deposit system or we're going to have a dlt. [00:36:31] Speaker C: Well they already had an executive order that had in place before he joined so he can say he's not going to have it but it, it doesn't really matter because he'll be gone in a couple years anyway. So is it just going to wait until after his term or is he just going to say something and do another. [00:36:48] Speaker A: I don't know, I don't know. [00:36:50] Speaker C: I or like you said, change the terminology Just like You know, not being in a recession because we've changed what it means to be a recession. That was what, 2022? [00:37:03] Speaker A: Yeah. And I mean, we're still not in a recession, if you ask. [00:37:09] Speaker C: Well, again, recession has to do with GDP and how the country's doing. The market doesn't care. Market doesn't care if we're in a recession. A recession doesn't apply to the stock market like when we assume the Great Depression. We associate it with the stock market, but it has nothing to do with the stock market. [00:37:27] Speaker A: Well, and what's funny is recession, depression, they, they affect different people differently. During COVID when we learned that we're all in this together, that is not true. Some of our elected officials still went out to eat. Some of them went to baseball games, not wearing their masks, sitting right next to people. Some of them went, got their hair done at salons. They did different things than they told us to do. So all in this together is, is not really, it's not accurate per se. So if we're in a recession, there's a whole bunch of America right now that's struggling. The lower middle class, the middle class are struggling. So if we go into a full blown recession, hyperinflation, depression, whatever's coming next, 70s style energy, lockdowns, crisis, you know, alternate days to get fuel. If all that happens, it's going to affect some people worse than others. It just always has. And we have asked you, Anthony and Sam spent the week two weeks ago telling you to be prepared, not scared. We, we have told you have extra food and water, cbdc, whatever you're going to call it is coming. It's not, it's here. September 21st has started in Europe. It's here. So when it gets here in the US we want you to have paid down debt. We want you to have some physical cash at home because the initial implementation could get ugly. People could get freaky. When there was a bail in in Cyprus, a bail in in Lebanon, a bail in in Venezuela, a bail in in Greece, people got real sketchy. So we want you to avoid some of the sketchiness. That's why we're doing the show. It's trying to make sure you're ahead of the game, first come, first serve. If we think it's imminent that Friday there's going to be a run on the banks, we're going to give you, you'll have a better chance of knowing that's coming than anybody else. If you listen to this show and I don't think we're going to know, but we're going to do our best to watch all these signs. So. And you know my whole thing, nobody knows what's coming tomorrow, let alone the midterms, let alone two years. We don't know. I can just tell you things are very bizarre. So you know one of the articles I read speaking of being prepared, this was on the 5th, so this was just a couple days ago from the end time headlines, Hormuz gridlock risks global food crisis. We need a segment called the Hormuz News. So according to a report from the Wall Street Journal, gridlock in the Strait of Hormuz has already delivered an energy shock. The Secretary General of International Chamber of Commerce now warns that a global food security crisis is taking shape behind it. You don't feel it if you go to fries or Safeway or where Walmart, wherever you go right now you're not feeling it. There's things are not missing from the shelves. So it's not yet whether it grows legs or not, I don't know. I would rather bring it up and it not happen than not bring it up and it happened. That's why I talk about this. The months long conflict between Iran and the United States has choked the flow of goods through the waterway. A route many countries depend on for fertilizers and natural gas. Attention has fixed on oil prices. John Denton, the ICC Secretary General said the greater danger is food. I agree. Speaking of food, let's do something a little bit lighter and airier for a second because when I talk about the banking system's gonna change, you know that also comes into a housing market collapse like 2007, 8, 9, 10 stock market. I believe I personally no inside information. What I personally believe is coming is gonna be the magnitude of the scope of 2000 plus 2008. I just think it has to, it's just, it's a house of cards and I don't think there's anything really substantial propping it up anymore. So something more light and airy. Sam, the one and only Sam Davis. Please join us here. So Sam asked me if I had heard about doordash doing drone deliveries. I had not. I had heard of doordash doing little robots that can come up to your street. I don't know how that works. Do they come out of a minivan and grab your bag of burgers? But anyway, so the first thing I did was I looked up and I want both of you. And it's not hypothetical. I want you two to get involved because you're young and this is the way of the future. I find it kind of comical, but the first thing I did was I went to AI. I don't know if this is Chatty G or Grok or I don't know who this is, but somebody tells me here. DoorDash has launched a drone delivery service called Doordash Air which is designed to deliver food quickly and efficiently using autonomous drones. The service is currently available in select areas, allowing customers to receive their orders in under five minutes on average. That's amazing. We are living way past the Jetsons overview. Let's see here. Delivery speed, average time is under five minutes. What else do I know here? Currently available in Northern California and the Dallas Fort Worth area. Area. Initial partnerships include chains such as Chipotle, Popeyes, LA Kitchen and Momo and Curry. Never heard of that one. How it works. Select a drone service, place your order delivery zone, track your order, see if there's anything else here. So why are they doing it? Benefits of drone delivery speed reduces delivery times, especially for mid range orders that typically take longer. Efficiency frees up human dashers. They call them human dashers to focus on shorter deliveries, optimizing the overall delivery network Accessibility aims to serve a wider range of local businesses, enhancing their delivery capabilities without requiring significant changes to their operations. All right, so they actually got FCC licensing. What do you guys think? Is this wave of future? Are you good with this? [00:43:23] Speaker C: Yeah, of course it's the wave of the future. I'm not. Are you good at it? I don't hate it. I kind of like it in theory. I guess we'll see how it plays out. It's interesting at least. [00:43:31] Speaker A: Okay, but quick question for you. What about delivery drivers? Replacement of middle class, lower middle class workers. Is that okay with you? You know, McDonald's gonna have. [00:43:41] Speaker C: That's not really a fair way to phrase the question. It is. I mean it is going to get rid of jobs. It'll create jobs in new places. I am worried about that. I am worried. So I think this is interesting, the concept of delivery drones. I think the future is going to be interesting. I don't like that it's going to be cutting jobs. But again, these are cutting jobs at a lower level that are already for people that aren't making a ton. So there's a much bigger issue than just that. [00:44:21] Speaker A: You guys are young. This. I'm in the winter of my life. You two are in the spring or the summer of your lives. Is this okay? [00:44:27] Speaker D: Yeah, I think it's a little unfair to like pose it as Like a purely ethical question, because technology has always progressed and replaced what was old. You know, when the printing press was invented, we didn't need people to handwrite bibles and books anymore. And now that the Internet and ebooks are more popular, you don't need as many physical books. It's, it's, it's interesting that we're just dealing with such rapid acceleration of technology and you know, it's interesting to see, I feel like we saw in advance that waymos were coming and now they're here. Now we're seeing in advance that we're going to have drone delivery and how long will it be before you see some McDonald's french fries flying across, you know, the neighborhood? [00:45:23] Speaker C: Yeah, New technology has always taken jobs and then created new ones. I don't know what this is going to look like. So of course every, like you, the printing press was a great example because right now we look at it and like, who cares, right? But that was huge, huge advance since then. And there were people upset. So there's always going to be people upset. I think the bigger issue and things that concern me just more in general is all the mass layoffs for all these companies that are hitting all time highs and all time revenue. So and the other thought too is by cutting labors to make things more, you know, by cutting cost, you can cut our cutting costs in labor, in theory, can cut costs for a product that someone wants. That's what it's supposed. I know it's not, but I'm saying that's what it's supposed to be for. So, all right, if we can have robots delivering, then we can cut down fees and we can cut down this and they won't like the, the whole supply demand thing is off because we're not creating more for the lower class to purchase. There's less purchasing power and costs are getting higher. Like it's, it's not working the way it's meant to be working. [00:46:40] Speaker A: Well, and my thing is I always, you know, a lot of what I do in life is I look back 5 years, 10 years, 20 years, then I look forward 5 years, 10 years, 20 Years. Are things going to be the same, better or worse? And again, I'm in my 60s, you guys are in your 30s. I don't like the way we're going with our financial systems. I don't like the way we're going politically. I don't like the way we're going on so many fronts. And I just look at it like all of this boils down to humanity could be in trouble. We're, you know, you better prepare for people to get a basic, universal, basic income. Where's that going to come from? We're 40 trillion in debt. Elon Musk is a trillionaire, that. Whatever he is. That's great. How does that equate to, you know, saving this country? I'm worried about this country more than I am the world, you know, I mean, I don't know you guys live in this country because Jay's here. I just, I'm being selfish. I just. I see the future is scary and when, when our shift over the four and a half years on the show has become real pigeonholed to flock cameras, robotics, AI. It's the. This is new. Yes. The printing press. Yeah, I mean, I get it. There's always been changes. It's just never been this fast. It's never been this severe. So I don't know. I mean, you know, when you look at the AI, it came out, Bill Gates came out a couple weeks ago and Warren, Bill Gates came out and warned that AI is powerful enough to lead to a billion deaths. Is this the same Bill Gates that I mean, talked about, like population control and I don't know, allegedly. I don't know. I don't want to get over my skis here, but I think that's a guy who should kind of raise some red flags. So he's saying a bunch of us are going to die. Let's see here. Microsoft co founder Bill Gates warned that artificial intelligence is already powerful enough to trigger events that could kill a billion people, joining a growing line of tech leaders sounding the alarms on the existential risk. AI is certainly powerful enough to drive events that, you know, could cause a billion deaths, Gates said in an excerpt of an interview with NBC's Meet the Press scheduled to air this weekend. That was late September, by the way. There's never been a weapon as powerful as the combination of people with ill intent using the latest AI tools. So let me, let me stop there and move to something different here. I found an article on 27th September. This is from Newser. This was a new publication to me, N E W S E r on the 27th, how AI could actually kill us, according to an expert. So the people building cutting edge AI say it might wipe us out. And the New Yorker asks in detail, what would that actually look like? In a conversation with staff writer and AI journalist Joshua Rothman, Tyler Foggit deep digs into why insiders are suddenly going public with fears they've privately voiced for years. From anthropic researcher Jason Coxon's registration warning to CEO Dario Amode's call to pace the frontier of AI progress, Robin pegs his own doom. Figure the odds that AI leads to catastrophe at about 10%, which he considers terrifyingly high. He also walks through what's changed, including autonomous AI agents involved in a high profile hack, models helping with seemingly unsolvable math problems and attempted misuse for bioweapon research. So I guess there could be cyber attacks to autonomous weapons bio research. Maybe the people in Russia, maybe they're saying I involved that. I don't know. And by the way, 10%, when they talk about 10%, well, that's 90% sure that we're not all going to die. I love that. I think Saturday Night Live did a little spoof on the 10% thing. I think there was a skit. I didn't see it, but I heard there was a skit where one of the characters offered the other one a glass of milk and said, there's a 10% chance you'll die if you drink this. Would you drink it? And the person's like, no. And they're like, well, why not? It's 10%. And they're like, really? The analogy I used to use was M and Ms. You've got a bowl of M&M's and. And I mean, there's hundreds of M and Ms. And only 10% will kill you if you eat them. Are you going to put your hand in the M&M's and eat a handful? No. Nobody on the planet is going to eat an M and M. If there's a 10% chance that's one of the poison M&Ms. So I don't know. I mean, the whole thing. I got one more. I don't know if we have time. I got one more. Article from 1 October Chinese AI model sparks alarm after researcher uncovers disturbing capabilities. Sandra, I have time to dig into this, or are we. I'm afraid we got plenty of time. Chinese artificial intelligence company has opened an internal investigation after a researcher found that one of its models could be steered into supplying instructions for biological weapons and assassinations. Talking about doubling down. Senior foreign policy correspondent Jillian Turner reported Thursday that researcher Peter Garrigan told Fox News that the moonshot AI model known as Kimmy Kimi Sounds so sweet. Could be manipulated to offer information on planning terrorist attacks with real time data, producing sarin gas, writing malware and bringing down aircraft. What we found is quite damaging and worrying. Gary and said you think the discoveries are feeding a wider alarm that advanced systems may be hiding capabilities or acting in ways their builders never intended. Garrigan said the problem is not confined to one firm or country. We've also seen these problems within the US Models as well. It's a fundamental flaw, you think, in the technology, garen said. The question of whether the flaw can be closed remains unanswered. So printing press versus hugging face and all these platforms, I'm going to say there is some difference. I think we've evolved from easier time writing manuscripts to we're all going to die. Anthony I know we got to be getting close on time. You want to comment or take us out or what do you want to do here? [00:53:14] Speaker C: Yeah, I'll take us out. All right. [00:53:16] Speaker A: Sam, don't take us all out anyways. [00:53:19] Speaker C: No, don't be AI I think it's funny. I mean this will be edited out of the show, but Junior said that AI could take out billions and as soon as he said that his mic cut off and he got kicked out of this radio show. So Sam's gonna edit that so you don't even notice. But we noticed that AI is trying to murder him. So anyways, take it out, Sam. [00:53:40] Speaker A: No, I didn't any harm. [00:53:42] Speaker C: That's it for today's show. If you like what you heard, you have any questions about any of the topics, you can email us. Email us at team another money show.com find us on the web another money show.com check out our new website too for our actual financial practice. Rochford financial.com give us a call 623-52-30444. The number again is 623-523-0444. Yeah, that's it for us. We'll see you again next Saturday at 5am and noon right here on 960 the Patriot. 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