Episode Transcript
[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 Correjo and JR Rochford.
[00:00:42] Speaker C: Here we are, your hosts, Anthony Correo and JR Rochford, 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 Sun City to bring you news 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.
Ready to start with articles? You were all prepped for articles, but I was like, I know you're going to sit and you're going to just talk about nonsense for the next 15 minutes and then we'll get into all the important stuff.
[00:01:13] Speaker D: You know what? People don't like change. People are change resistant. So if all of a sudden I was an adult and I went right into what's important people would be, that wouldn't be, it wouldn't sit well with people. So and we were, we were discussing before we actually went live, we were discussing the fact that if you listen to us on the Saturday, it starts at noon on 960 the Patriot. So you should have a cocktail if you're a drinking person. We've decided like the old nightclub saying, the more you drink, the better we sound. So feel free if you're a regular listener or brand new to have a drink and join us because the next hour will be, it'll be a lot more fun that way. Let me just say that. So as always, I start out with the shout outs. Shout out Today to Matt McClure. We have adult supervision. So not that Sam's not, I guess that comes off wrong. But Sam is traveling this week so we have Matt and I always look forward to that because it's got to be so weird. He does legitimate radio shows, he produces for legitimate financial advisors and then once in a while he gets us. So it's, it's got to be a little bit of a culture shock. But we're so glad you're here. Matt, so thank you for being with us.
[00:02:18] Speaker A: Yeah, no worries. I'm glad to be here. You look. I look forward to it every time I'm able to because you guys are great. Change of pace, I think it's like, you know, because you always say, you know, at the beginning of the show, the last thing you need is another money show. And so it's like I so enjoy the, the. Just the different things that you guys do and the different things that you guys talk about. You guys make it fun. So I'm always look forward to it.
[00:02:41] Speaker D: Well, it's always so uplifting and upbeat. That's just refreshing.
[00:02:45] Speaker A: Of course, of course. It's all sunshine and roses and kittens and puppies, you know.
[00:02:50] Speaker D: Exactly. And today will be no different, actually. We have extra kittens today, so today's gonna be good.
So let's get into another couple shout outs. We had a new couple in the office just y.
Today, by the way, is the 7th of August. As we record today, we're back to our Thursday schedule. And yesterday we had a couple, I'm going to call them Peter and Mary, that were in the office. And we just, I mean this. It's been very, very wonderful to us to meet people that listen to the show. Both Peter and Mary listen. So that's nice. I did make an observation. It seems like we have more male than female listeners, just, you know, judging by who reaches out to us. But it was nice to have a husband and wife listen.
So if, if, I mean, just if you want to sit down and meet us, if you want to chat with us, we will be absolutely honored because we do have a good time. So let's get started. You, as you know, if you listen to us even once our thing here every Saturday, we want you prepared and not scared. We want you proactive and not reactive. I said something last week that was a little more financial.
And our loyal listener, Kevin pointed out, he said you, you know, it's. It's a good thing what you said. We focus in our office on financial matters. You know, on the radio. This is about current events and how they're going to affect your finances in the office. We focus on financial, so. But the thing is, we're a little bit different in a world of Edward Jones and Charles Schwab and all these big, huge corporate machines. We're a fourth generation family practice. We represent the big companies. We do the same thing that the big dogs do, but we're a little bit more hands on, a little bit more personal.
Kevin liked the fact That I said our focus in the office is on planning over products and education over sales. All that means is, quite frankly, honesty. Because if you, over the years, if everybody had a great idea and they got you in a new product, but they never really put it out as a lifelong plan, that's. I mean, that's great. I mean, they made sales, they have pressure, they have quotas. We're a little bit different. We're getting you from how much cash you should have at home in case there's any kind of a big cyber attack or whatever, through the end of your life planning. We talk about legacy and inheritance planning. So we are. We are completely.
We're a different animal from what I can see around me. And I know there's exceptions, there's good and bad reps everywhere, but in general, our industry is so focused on sales and it's kind of lost the fact that we're supposed to be helping people. If you do want to sit with us, by the way, we generally schedule one to two weeks out, so give us a call. You can sit down in our office if you want me. Excellent. If you want Anthony, Excellent. If you want both, we're more than happy to sit with you. Together we can do zoom appointment.
[00:05:32] Speaker C: Let's clarify that one a little bit because we can sometimes fit in sooner than that, especially because you and I were talking about our online calendar. Occasionally we'll have things going on and like, if I'm traveling, I'll black out dates on the calendar because I'll be out of the office. And that the calendar that we have online is just so anybody can reach out, send an appointment without chat, chatting with us. But we do have other dates available if you reach out and call. So if I block out a date because I'm gone doesn't mean you can't come in and sit with J R too.
[00:06:03] Speaker D: That is very true. So did you notice how he says he travels? Like, Junior is not allowed out of the office, just him. So, yeah, no, give us a call. 623-523-0444. And we will make sure we get you in the office.
You know what? I was remiss in something.
There should have been another shout out and I just, I kind of space it.
Two days ago was Anthony's birthday.
So shout out to Anthony. Yes. He's been in the office over seven years. He's aged gracefully. He's. He's still a recovering engineer, but I think he's having a good time here. So happy birthday to Anthony. Reach out to him, too.
Let's move on. Get a couple.
Get a couple current event things going on.
There was. I'll start with. With what? You know, one of the sad things. There was another shooting yesterday. I'm really. I know we're financial guys, but I can tell you people are on edge in Phoenix. I'm surprised there's not more shootings, because when it's 115 to 117 degrees, everybody's on edge. You're at a stoplight, your air conditioning is lagging behind, Everybody's stressed out. So. But there was another shooting, and it led me. Because if you know us, you know me. It led me to a conversation with one of my Facebook friends. So I did. I got blocked again. I love that, by the way. I got blocked.
The gun control thing got brought up again. That that shooting in Georgia yesterday would not have happened if they got rid of assault rifles. And first of all, I start with the fact that, you know, if you ban guns, only outlaws are gonna have guns, and assault is a behavior, not a weapon.
And it went further.
And my bottom line here was how I kind of, you know, this is a little hard to fight this one with me, ban the guns when there's no more reason to have guns. I mean, there's a shooting every day somewhere. We're very unsafe around this country. Most of the big cities, you don't want to even walk out and go jogging or go walk in after 6 o' clock at night. It's kind of scary. So my point to this person, and I use that term loosely, was, you know, because people should be able to talk and not instantly hate each other and ban each other, if you ask me. Block each other. But my point was it's really. It's too scary right now. If you're inclined to have a weapon and you've been properly trained, I would say it's a really good time to have a weapon, because anywhere you go right now, you could be unsafe. Nightclubs, churches, Walmarts, grocery store. It doesn't matter where you are. So I just. I want to throw that out there because I thought it's just odd that I get in these conversations with friends on Facebook that I've never met. So it's.
I don't know why I went too much in that.
Another thing, Trump. Let's talk about the commander in chief for a second. Very busy last few days with the commander in chief. Apparently he was up on the roof yesterday at the White House. I didn't even look.
[00:08:54] Speaker C: That guy. Is that maybe Coming to life again, possibly.
[00:08:59] Speaker D: I just figured he was channeling his inner Korean. He was being a rooftop Korean, getting ready for the, you know what to hit the fan because. And I didn't even.
[00:09:08] Speaker C: The reference.
[00:09:10] Speaker D: Well, yeah, it's not that dated. Give me a break. So the reason I thought about it was because I've been reading this week about how Trump is talking about federalizing D.C. like, National Garden Place, they're putting up walls again, like fencing around the White House. I don't know what's coming. I, I don't know what's going on, but I know there's a lot of talk of federalizing D.C. like, oh, wow, that's. That's stuff you hear from other countries, not this one so much. It's, you know, basically Trump saying that if you're not safe in D.C. they should be the role model of the country for safety. Oh, man, you got a lot of work to do. You have to make your way to Detroit and Chicago and Baltimore, and you have a lot of cities to get to, so. And this morning, our buddy Joe Jake went on another Salem station. He was talking about Trump.
And I haven't read and dug into this yet that Trump is wanting to fire the CEO of Intel. There's a newer CEO that apparently is working a little bit too closely with the Chinese. So. And my thinking is, if it's a national security threat, all right, I guess the commander in chief has a right to express the will to fire, but it's also getting involved with private companies or now public company.
But it's like. Yeah, I mean, I'm not sure if the president should be saying who gets to keep their job or not. So if it's proved that there's national security source. Okay, I just, I'll read into, you know, dig into a little bit, but I find it interesting. And there's just a lot of news around the, the president right now. The big tariff on India that came out yesterday, they're going to slap another 25% on India because they're trading oil with China and Russia, whatever. So that'll be 50%. I, I can't really dig into the tariffs because I have no idea. Are they on? Are they off? Mexico, China, who knows? You know, the terrorists. The stock market is still doing great. We'll get into that a little bit later. But the stock market still talk about that.
[00:11:00] Speaker C: Can I take the mic a little bit?
[00:11:02] Speaker D: Oh, my gosh. I would love that. I get. I guess I'm tired.
[00:11:06] Speaker C: Yeah, I know you hate hearing yourself talk here's, especially with the tariffs, because the tariffs are what got me. And I know I always give you a hard time about reading the, the headlines, but I'm going to now too, because I was trying to enjoy myself last week on vacation and I see, you know, the market's down a ton. I was like, oh, why?
Why is it down? And I'm thinking it's going to be something new and exciting. And of course it wasn't.
So this was from what was this? August 1st Friday. But they were, they were talking about the market, you know, the previous day, Thursday. So it's Wall street was finance, Yahoo Finance, Yahoo article. But every day you can look up all of these news organizations, they're all going to have a daily, you know, summary of what happened in the market. And this one was from last Thursday. Wall street closed lower on Thursday, pulled down by health care and real estate stocks. Investor mood remained cautious about tariff negotiations conducted by the Trump administration and the Fed's refusal to commit rate cuts. All three benchmarks, indices closed in the red. So I'm like, well, let me see more of what that has to do with anything. Markets continue to feel the weight of interest rates and tariffs uncertainty as if this hasn't been going on for the last 10 months. Like this is absolutely nothing new. So why is this in a daily summary of what's going on with the market? Trump's letter to the healthcare sector. 17 major drug manufacturers reignite concerns over political potential or potential political pressure. Pharmaceutical industry, the big one. Economic data. The initial jobless claims come in and, and being worse than they thought. So we've got rates, jobless claims, health care tariffs.
So that was a Friday summary for Thursday.
Let's go to Monday.
U.S. stocks rebound sharply Monday, recovering from last week's sell off, sparked by disappointing labor data and continuing trade uncertainty. So all the things that have been around for months and months and months apparently miraculously are saved over last weekend.
How did, how did everything get better over one weekend? Like all of this is nonsense.
None of this means anything.
So it's fun for me. It can be fun for you anytime there is any sort of turmoil. Read the headlines, just the day to day, just the quick summary of what the market is doing because it's miraculously, if it's down for a week, all the bad stuff disappears as soon as there's one, one update again.
So that was I. It drives me absolutely insane.
I know, right? Sitting here reading headlines to people who does that?
[00:14:00] Speaker D: No, that's awesome. You know what I mean? You have said since you've been in the office and you started digging into things when I shared with you that the Dow Jones Industrial Average, the Teflon dow, only has 30 companies.
All of the people that write stuff, they have to remain relevant. They have to give you reasons for everything that's happening. None of them seem to make sense.
And that's what you're pointing out. The stock market is a full of crap machine. It's heavily manipulated. There's no rhyme or reason. You what part of what you read was the investors are nervous or whatever. Investors have no idea what they're doing. I can tell you after being in this job almost 30 years, you know what investors know? They want 10% return with no risk, and they want their money to be fully liquid. That's what they want. Anything that doesn't accomplish that, when things are going up, they love it. When things are going down, they hate it. That's investors. So all of the things you read, first of all, their opinions. I mean, I don't fool myself. When I gather all of the stuff I gather each week, I understand what I'm reading is somebody's opinion. I generally try to find two or three articles on the same subject to make sure at least I've done something towards vetting and verifying the validity of the article. But I realize I'm getting opinions and not facts. Until we look backwards here. Here's something looking backwards for you.
I would say if you actually dig into the numbers, if you dig into things, our government is full of beans. How do you like that? Hey, government.
These are the expressed written permit. This is only me. Anthony doesn't agree. He loves the government. The inflation numbers. You take out food and energy, the two things that everybody seems to need. And you tell us what the inflation is doing with, with the job numbers. For Pete's sake. Trump just fired somebody in charge of the Bureau of Statistics this week because, you know, the incompetence and the person that does the job, numbers that have to be reevaluated and restated and it's, it's all fugazi, fugat. This is all rule for Wall Street, Matthew McConaughey crap is what it is.
Yeah, inflation. What's, what's the other one? When they talk about the, the job numbers, the inflation, I don't know, I lost my train of thought. I would just say that none of this makes sense. And I would tell you now is a really good time to be aware of your surroundings. We've just had roughly a 15 year run up in the markets. Let that soak in for a second. Other than the month of March, literally the month, not the quarter, not the year, the month of March, 2020, this market has been on a tear. The market has been on a tear. So I would say if history is any indication of any sense of normalcy, we are going to have a market correction. When we do, I think it should be probably, it should be worse than 2008. So hang on. My advice to you, only take as much risk as you need to accomplish your goals. If you're retired or you're nearing retirement, let's say you're in the retirement red zone. One of my favorite buzzwords, you need to be awake right now. You know, we run into people all the time that they're diversified properly, age based diversification. We meet people that have followed the old rules, the part that they don't seem to understand.
The rules don't change. They tell you how much to save. They tell you what to do with your 401k. They tell you retirement age, when to take Social Security. You have several options. You know what they don't tell you? The entire game has changed underneath you.
So the world around you should probably concern you a hair. If your 401k is up 8.9% year to date. Like one of the people I sat with in the last couple weeks, 8.9%. And the portfolio was diversified. There was some target aid fund money in there. So it was, it was great for this person's lot in life. And my whole thing was, be awake, beware, be nimble, because this doesn't make sense. You got to figure the big dogs that can actually move the markets. Warren Buffett, I'm looking at you. If you're listening. I appreciate it. From your little home that you've had for what, 38 or something years in Omaha, Warren Buffett has pulled out of Apple, Coca, you know, the big companies, the big blue chip stocks that he loves. He's gone to a lot of cash. I don't know why. But recently he bought into Sirius xm. I don't know why.
So maybe, I don't know, maybe he bought all that so he could say, you need to fire. What's his name?
Howard Stern. Yeah, apparently Howard Stern made $100 million last year. So, Howie, if you get fired, if they don't renew your contract, I guess it is. I hope you're going to be okay. I don't know what your net worth is, but I hope you'll be okay. We will help orchestrate a gofundme if need be, Howie. But yeah, Jeff Bezos, you know, and we've been talking about a lot of these big players. Jamie Dimon for the first time, the last, what within the last 18 months was selling Chase stock. You know, one of the things I read at the end of July, this is from the Indiatimes.com on July 20. See, we even go to India to find news for you. Jeff Bezos sells 1.5 billion worth of Amazon shares. Amazon founder Jeff Bezos has sold another 6 point million, 6.6 million shares of the company, reports Barron's. According to the report, the sale was disclosed in a filing with the securities Exchange Commission. The sold shares are valued at around 1.5 billion. The transaction as per the report, took place on July 21st and 22nd, days ahead of Amazon's second quarter earnings scheduled for July 31st. The sale was executed under the prearranged trading plan known as Rule 1 0B51. Okay, so I guess I won't read much more of that. The point is the people that have all the money that can move the markets have gone safer. So if you with your 100,000 or 200,000 or 300,000 in a 401k are not watching that, perhaps you should.
Anything else about the stock market? I can tell you there are alternatives. When we tell people that we love income planning, as Anthony says, income, income, income on his brand new commercial. So it's, it's, we have solutions for you. We have safe products. When I say we do planning over products, we can help you with products as part of your planning that are safe. And we are in a window the likes of which we haven't seen for about 15 years. We have, we have products that you can't lose money contractually guaranteed by the company. We are fully independent. We watch the companies that we represent and the, the interest rates now are very high. So you're in a window of a really good time if, if it is right for you to safeguard some of your portfolio. Reach out to us and explain how we, we haven't said it in quite a while, but there's a strategy I think. And Anthony, you love this. I think we got it at a Tom Hegner seminar. He talks about casinos, you know, and boy, talk about legalized gambling. You know, if you think you're foreign k, if you think that's any different than going to a casino, I got news for you.
So the Tom Agnes thing was if you went to a casino and there Are two blackjack tables next to each other. The first one is normal. It's regular. It's blackjack table. It's say $15 a hand. If you win, you get 15 bucks. But if you lose, they take your 15 bucks and then you do another hand and you keep going until you're either wealthy or you're out of money. Usually unfortunately, the latter. So Las Vegas is dying right now. Is it just the summer or is the recession hit in Las Vegas huge? I keep seeing articles about Vegas is down like 10 to 15%. It's scary. Anyway, back to Tom and the casino. There's the second blackjack table right next to the first. On this one, the rules are a little different. If you, your hand, you put in your 15 bucks, you lose to the dealer, they leave your money on the table. You cannot lose any money. But if you win the hand, you don't get $15. You get, say, $7.50. So the first table is normal. You either win or you lose. It's just the luck of the cards. The second table, you only win half of your bet when you win, but you never can lose. Which one are you going to sit at?
Pause for a fact. Anthony doesn't say anything. Matt doesn't. Matt, can you put in some sort of crickets chirping sound effect during that?
[00:22:29] Speaker A: I was going to do a. I was going to do a drum roll, but I lost my drum roll button over here. So I don't know.
[00:22:34] Speaker D: Oh, man, the times are tight this day. Kind of. We're in a recession. There's not even a drum roll button for Matt McClure.
[00:22:40] Speaker A: I know it's rough.
[00:22:42] Speaker D: I need a suggestion. I need a suggestion box and a golf pencil because that's unacceptable.
So anyway, who. Who in the right mind would go to the traditional table? When you go to the table where you don't lose money, but you, you have the upside growth. So we do things that work like that. I know, I know. Too good to be true. But we'll explain them to you. We will talk about diversification, moderation, risk tolerance, all those things that every other financial person talks about.
Should I move on? I want to. We. We haven't hit the banks for a while, and it's been really bothering me because we've been talking a lot about crypto. We've been talking about everything else, but we haven't talked about the banks. And I. And I want to because it's been kind of quiet around the banks. So one of the things that I've been Telling people it's super simple to become educated as long as you're willing to do so. And I have talked to branch managers at banks, I've talked to tellers. I'll tell you what, they do not want to be educated. They do not. It's their livelihood. I understand it.
I've been told to my face that I am wrong.
And I have actually had to show them where I am not wrong. Take the time. If you're listening to us and you want to see what I'm saying, go to fdic.gov, that's fdic.gov and look up statistics at a glance and then you look up historical trends. So there's three steps to get here when you follow the three steps. And I can even email this to you if you reach out to us. The the at the end of March, March 31st of this year, just recently, the FDIC reserves if the banks start dumping, if we have another modern day run of the banks 1.31% coverage. That means for every hundred dollars you have in the bank, if the FDIC has to cover your money, they have a dollar 31 cents to do it. And I can tell you right now that is problematic. The banks have no money. We live on a world. We have a reserve currency. We all of these things that we don't understand are off right now. And your bank, where you feel the safest, has no money.
So I, and I, I would urge you to go a little further once you, once you see what I'm saying and start poking around. We have the Internet thanks to Al Gore. It's a wonderful thing. Look up the word bail in. I guess that's two words. B, A, I, L, second word, I N and tell me what you find. Tell me if it doesn't scare you. I can show you how to prove that a balin is actually quite possible and maybe even likely in this country.
I want to finish up with the banks right after we take a break and then I want to move on because yes, Anthony, I will wait till the second half and then I will whip out my articles. So thank you so much as always for being with us. We do appreciate it.
If you don't mind, please go to the YouTube, the old YouTube and look up another money show. We need more subscribers. We are lagging behind Joe Rogan kind of dramatically at this point. So we only have about 600 subscribers. But we do have over 325,000 views on our shorts. So if you want to check out our shorts, we are always glad to hear it and give us a call. We'd love to sit down with you. 623-523-0444 or you can email us at teamnothermoneyshow.com that's teamothermoneyshow.com we'd like to sit down with you, be a second opinion. If you need help with allocating your 401 and how to be nimble and aware, we'll do that with you. We don't charge, as Anthony says, every week. There's no obligation, there's no minimums. We have no quotas. So give us a try. All right? With that said, we will be right back.
[00:26:37] Speaker B: Another weekend, another Money Show. Visit another MoneyShow.com.
[00:26:49] Speaker D: The same. It's just a shame, that's all.
I could say day and you'd say night. Tell me it's black.
[00:27:01] Speaker B: Fixed indexed annuities can help protect your retirement savings against market ups and downs. Nationwide's Peak 10 can help protect against market risk and provide guaranteed income for life. Peak 10 also has an optional rider that offers an immediate 20% bonus based on your principal applied to your income benefit base. Call us now at 623-523-0444. That's 623-523-0444 to connect with a qualified advisor Investment advisory services offered through Brookstone Capital Management, llc, a registered investment advisor. Guarantees and projections referenced within are subject to the claims paying ability of Nationwide Life and Annuity Insurance Company. Nationwide P10 is issued by Nationwide Nationwide Life and Annuity Insurance Company, Columbus, Ohio. Neither Nationwide nor its other entities are associated or affiliated with Brookstone Capital Management, LLC.
[00:27:49] Speaker A: Got questions? Call Rochford & Associates now at 623-523-0444. That's 623-523-0444.
[00:28:00] Speaker B: Thanks for listening to Another Money Show. If you like what you're hearing, be sure to leave us a rating and subscribe to the show wherever you listen to podcasts.
[00:28:09] Speaker D: Welcome back to Another Money Show. Thank you so much for being with us as always, we greatly appreciate it. We're little tiny fish in a big pond and we want to help you, one person, one couple, one family at a time to better your situation. And that way we can keep growing and keep being with you every Saturday. So let's help each other to finish up with the banks. If you look up the word balint, you'll see that it happens. It's happened around the globe.
It's not all that unlikely to happen here. If you look up the 2010 Dodd Frank regulation. You'll see that they put the system in place to do a bail in here. We just haven't seen it yet. So we'll see.
We recommend for people, perhaps. Let's say you're keeping $50,000 at a bank.
I know the hassle factor. The paper statements or the electronic statement. I know this is hassle, but if you're keeping 50 grand in a bank, that's your comfort level. You may want to think about keeping ten grand at five banks. I'll give you the logic, I'll give you the logic, why it's important to go through the hassle factor. Let's say you get nervous about the world. You know, the stock market's crashing, the housing market's crashing, everything's getting weird, unrest in the streets. And then they're going to say, you have to make an appointment, you have to come back. You have to. Yeah, yeah, yeah. They're going to tell you then they're honest, they're like, well, we don't keep enough money. If everybody came in asking for 50 grand, we wouldn't have it. So they're honest at least about that. So my thinking, if you only get five grand, you literally just left 90% of your money in the bank in case they do close your doors. Let's say you have ten grand at the five different banks, then you get your five grand from each of those. You see where I'm going with this? I mean, at least you've gotten, you know, half your money out.
So I don't know, just one strategy. We think people should have some cash at home. You know, I mean, look at round you with all the cyber attacks, power grid problems, I mean, the, if we have a solar flare, an emp, if something goes wrong in this country, your debit card will not work, your ATM card will not work. They're going to close the door to the bank. You, it's. The dollar is going to become like a barter, barterable instrument. Somebody's going to see that $20 bill or whatever and they will accept it because most of this country has no idea that we're going crazy fast towards the central bank, digital currency, whatever that may be. So, I don't know, I mean, I just, I reckon. Oh, and I do have the people once while they're like, well, you're telling me we're going to a central bank, digital currency. That's how they sound when they say that. You're telling me you're going to go to a central bank, digital Currency. So what good is my cash going to do? Well, I'll tell you something. Cash is a very short term meaning to me in my eyes, 1, 2, 3, 4, 5 year solution to the immediate problems on the table.
Let's say just looking at the rest of the world, just me speculating. I have no inside knowledge. I am not Martha Stewart, just speculating. If you have ten grand at home in your safe, obviously be mindful of fire, flood, burglary, you're not going to get interest on it. I get all that.
And we can come up with a bunch of good hiding spaces for you if you don't have a safe, you know, first of all, don't put it in your master bedroom closet. No jewelry box, no underwear drawer, you know, be even, be careful now of the freezer. So we can give you some ideas on where you could put it where the bad person doesn't have time to find it. So anyway, so let's say you have 10 grand at cash, and I am right, on a Friday night after 5 o' clock Arizona time, they flip the switch and we go to the new central bank digital currency, which may be called Bitcoin, maybe called Ethereum, I don't know, I mean these stable coins, there's, there's a lot on the table with that. Anyway, so you're stuck with this cash. The government isn't going to say it's worthless right away. We, we literally would revolt and we would be Venezuela within three days. So what they're going to do, they're going to say you have one year to turn that cash in. If you turn in the 10 grand, if you do it in the first quarter, we're going to give you the equivalent, we deem the equivalent in the central bank digital currency for 10 grand. If you wait to the second quarter it'll be 7500 in value, third quarter it'll be 5000, fourth quarter it'll be 2500 in value and then after that you cannot use it. The dollar will be illegal. They seized our gold once, why can't they seize our dollar? So you will become a felon if you try to use that $20 bill after they turn in. That's what I picture happening. So time is of the essence, but it's not a crisis, it's not an emergency, you know, it's a crisis. Oh, as you're listening to this, you'll be listening to this on Friday, I presume, Friday the 8th or Saturday the 9th. I brought this up last week I believe, but this Saturday the 9th is the big boycott in this country. I haven't heard much since I first read about it like a month ago. But this Saturday, the anti corporate advocacy group the People's Union USA are the, the base of this. So they're saying don't shop, don't go to work, basically don't do anything on Saturday. So we'll see, we'll see, we'll see what happens. I'm sure they're gonna have to. Is there a, is there an NBA game or a WNBA game this Saturday?
I, I don't mean to segue into something silly and maybe even crude, but. Anthony, have you heard any news just very recently about WNBA games?
[00:33:29] Speaker C: Yeah. Why is this even on our show?
[00:33:32] Speaker D: Just because it's funny, because people expect us to bring stuff that they haven't heard elsewhere. What other financial stations, what other financial shows are going to talk about this? There are, have been some people throwing objects onto the court and apparently it's frustrating some of the people.
So if you haven't heard about it, just look it up. They're saying that they're going to have to check all of your bag there and some of the, the places that these people play, they're not going to let people bring in bags anymore. So. And I won't tell you what the objects are. I won't even say the word marital aid because that gets too close to what the word I would say. So anyway, Anthony's rolling his eyes furiously. I don't, I don't know, it has nothing to do with anything, but I just find it funny. That's the state of our country right now. We go from Coldplay concerts to blue jeans and jeans in general to NBA games. Are going to ban bags in kind of funny.
Let's, let's talk a little bit more about the upcoming central bank digital currency. I will not spend a lot of time in this because we aired it out big time the last two weeks. You know, I'll give you a couple articles to look up if you want to dig into it.
One is from 29th July from the Daily Hodl. JP Morgan Chase says significant leap forward underway for tokenized money market funds amid Goldman and BNY partnership.
So let's see here. Analysts at the financial giant JP Morgan Chase think Goldman Sachs new partnership with BNY is a significant leap forward for tokenized money market funds. According to a new Bloomberg report, Goldman and BNY recently announced a joint venture to launch tokenized money market fund services using a blockchain developed by Goldman Blackrock did you hear that name? BlackRock, BNY Investments, Dreyfus Federal, Hermes, Herms Fidelity Investments and Goldman Sachs Asset Management all plan to participate in the launch of the new service.
Teresa Ho, a managing director at JP Morgan tells Bloomberg the partnership could expand the use case for cases for money market funds.
Are you hearing what I'm saying? If anybody doesn't think digital money is coming so fast, how do you explain this?
Is this the central bank digital currency? I thought they were only going to keep JPMorgan Chase, Wells Fargo and B of A to administer the new currency.
It might be all the same big players. BlackRock owns the world. BlackRock, Blackstone Vanguard. If any of you suits are listening, we, we know what you're doing. We know you're taking over the housing market. Now you're.
[00:36:23] Speaker C: Wasn't that what Fed now was supposed to be is if everything runs through the Fed, everybody's got bank accounts with the Fed. There's no real need for small community banks, but they're not going to be the ones managing everything. So then you take on the, the big conglomerates, the Wells, the Bank of America, the, the Chase, and you have them run the account so you make it easier to manage. You know, the Fed manages a few big players as opposed to all these small community banks.
[00:36:51] Speaker D: Yes, looks like it's going that way because I noticed, I didn't hear, I didn't see on here like you know, Credit Union west employees, Credit Union Desert Financial. I didn't see any of those names that we see here locally. So we'll see. The only thing I'll read here from Ms. Ho this is true across banks, asset managers and payment processors. We wouldn't be surprised to continue to see more developments with respect to stablecoins being more integrated with the traditional financial system as well as more tokenization of real world assets. It's right in our faces what's coming next. So make sure you stay awake and aware and nimble. Well, what do I do about it? You put some cash at home. You pay down debt, you diversify and moderate your assets. You sit with Anthony and talk about how to structure your money so at least you'll be somewhat cushioned when they flip the switch. So you do the best you can, you know, I mean, Anthony always says, why do you get so worked up about things? There's nothing you can do about it. I get that to a certain extent. If I have food and water and alcohol and tobacco and guns and ammo and insurance companies for money and cash at home, I've done a lot towards my peace of mind.
Then after that I enjoy and have a nice day.
So let's see if there's anything else I need to read here. One thing is from our friend Annette. We have a client and friend named Annette sent me the epic epoch. I don't know times from the 30th of January. I'll just read one little quick line. What we actually need is a restoration of gold as an international money.
Nor is bitcoin a viable substitute.
Indeed, a bitcoin standard would likely be an invitation to the surveillance state to create programmable money that is even more dependent on US debt than the current system.
Everything I read. Thank you Annette for sending that over.
The article's lengthy, but that's a good part. Everything I read says that we saw it years ago. We shied away from the conversation of cryptocurrencies because we think it's still along the lines of tulips and pet rocks and Beanie Babies. It's air. We give it value. That's the only reason Bitcoin today is at what, $113,000 a coin? It's the takeover of the fiat currency and the world reserve currency for this country and this central bank.
So just be ready. I would say now everybody needs to start working their way around how to buy some cryptocurrency. Just so you start getting used to the process.
I hate so much that I'm saying that I hate that I'm saying that Anthony's bought some in the last year, I bought some in the last year and we hate it. So is it because we think it's a pyramid scheme, get in on the bottom floor? Or is it because we just we have to change and adapt? Both. The answer is both.
Another article on 30 July from the Daily Hotel. Bitcoin Price Drops as White House Releases Massive Crypto Report Federal Reserve leaves Interest Rates Unchanged okay, so this must have been last Wednesday.
The only thing I'll read here.
As for what is in the new crypto report, it proposes Congress enact legislation to affirm people's right to transfer crypto assets or without intermediaries and hold them in self custody wallets. Okay, sounds like the people are going to be able to keep a wallet with crypto instead of a wallet with a dollar and a $5 bill. It also proposes that Congress moves to ban central bank digital currencies.
How on earth government are you looking at us in the eye and saying you're going to ban cryptocurrency you're going to ban central bank digital currencies, but you're going to take in the implementation of stablecoins. What is the difference?
All right, heart attack, stroke time. So let's see here. And by the way, yeah, I mean the bottom line there, the stable coins that are backed by the Treasuries, for Pete's sake, we're trading the fiat currency for new fiat currency. And if we have a solar flare and emp, you're not going to be able to get your money. Give me a break. You don't think Chinese style social credit scores are coming? How asleep are people? So anyway, let's see here. Pass legislation given the Commodity Futures Trading Commission the authority to regulate spot markets. If you want to look up what they're referencing here, there's a thing. The White House releases an extensive report on crypto policy and the Federal Reserve once again decides against cutting interest rates. The 166 page crypto report is entitled the Strengthening American Leadership in Digital Financial Technology. So you might want to look that up. You know, between that and the Genius act, you'll have a really good idea what's coming. Actually it's here. It's just, it's being put in place right now. Right as the states are being stripped of the rights to get involved with AI Federal government's going to take over your money and your access to computers apparently. So you might want to look up this, this act. I'm going to throw some of these away. Here's something I got from my buddy Leon. We've got a loyal listener and a good friend named Leon. Says here, this is from the. Also from the epic Times. On 28 July, US treasury plans to borrow 1 trillion in the next three.
The US government will borrow more than 1 trillion over the next three months. The Treasury Department projects. Let's see here. According to the latest marketable borrowing estimates released on July 28, the treasury expects to borrow 1.007 trillion during July to September quarter. This is nearly double the previous estimate of 554 billion in April, primarily due to the lower beginning of quarter cash balance and projected lower net cash flows. The treasury said in a statement announcing the estimates. That's I'll read from the article. Leon, I appreciate you sending it. Everything leads to this. We are broke. The country's broke. So how do we get out of the mess that we're in? We either start World War 3, which I've been saying for years that we're in. I think when you're Having skirmishes in Ukraine, Israel, Iran, directly bombing Iran. And you're not calling it World War Three. I don't know. I mean, I guess they're, they're just skirmishes. I guess we'll call them skirmishes. So anyway, so you bring in a global scale war war. Or you let everything tip.
Mr. Bill, if you're listening to our show, there's a debt jubilee and then we are all even and we have a new currency. That's what's coming.
So moving on, I hope we have lots of time left because I have so much fun stuff for today. Here's fun. I read another thing from Leon just last week. I'm going to read it again because it's super quick and then I'm going to add to it. So Medicare. The Medicaid extenders Act of 2019, the bipartisan law requires states to verify people's Medicaid eligibility.
In Ohio, the Department of Medicaid checked the assets of a sample of abd, the aged, blind and disabled. Enrollees. However, it found that over 10,000 millionaires were improperly enrolled in the program. According to the Patient First Coalition. The same is true for around 8,000 people in South Carolina and over 20,000 people in Arizona. Yay, Arizona. We're doing good. That's, that's the case. Even though Ohio and Arizona have Medicaid asset limits of $2,000. A Medicaid asset limit is the maximum value of assets an individual can own or qualify for Medicaid. So if you're a millionaire and you're on Medicaid and you're listening to us, I don't know, should I be impressed by your, your, you know, ability to force your way into a system that wasn't meant for you, or should I be like, you're a piece of. You know what? I'm gonna go with B, I'm gonna say, if you're a millionaire and you're on Access, I'm gonna say, or you're in the alt tech system, I'd say shame on you. That's what I'm gonna say. Because we have people that legitimately help. Let's give an example of this. Let's give a real life example. Louisiana, we're going to take you down to the bayou for this one. Louisiana Medicaid millionaire bought Lamborghini while chasing government benefits for years. A Louisiana woman who purchased a Lamborghini while fraudulently obtaining Medicaid benefits is facing a fraud charge. Good Authority said this week, I'm going to name her. I don't even have to say allegedly because this is from msn.com so presumably they verify. I got this article on the 30th of July.
Candace. Candace Taylor, 35, of Slidell, dubbed the Medicaid millionaire by the office of Louisiana Attorney General Liz Merle, was arrested Monday. The State Bureau of Investigation began looking into Taylor after receiving a complaint from the Louisiana Health Department saying she underreported her income to qualify for medical benefits. Medicaid provides health insurance for low income adults and children. The program is partially funded and primarily managed by state. The federal government establishes parameters for states to follow. However, each state administers their Medicaid program differently.
Investigators discovered she owned six different businesses that generated more than $9.5 million between January 2020 and December 2024, according to court documents. Nine and a half million dollars over four years. I'm not good with math or numbers, but that's about 2 million a year kids so that's pretty good. A look at her accounts reveal deposits totaling 480,994 with over 2,325,000 directly. Blah blah blah. It just, it itemized a little bit here what she's doing so. Other purchases included a $100,000 wire transfer to Tactical Fleet, an exotic car dealership, followed by a $13,000 debit card transaction for the purchase of a 2022 Lamborghini Urus. Anthony, have you heard of a Urus? You're a race car dude. I'll have to look it up. I'll bet it's pretty smoking hot their suv.
Oh, nice. Maybe she's got kids. Maybe she's teaching future generations how to how to do this too.
Switching gears msn.com on the 4th of June.
Fraudsters. I like the name fraudsters. That seems like a SUV too. I'm in my roadster today, my fraudster tomorrow have built billions from Pentagon and it could be way worse. The GAO warns.
See here. The two most common schemes flagged were false claims and overcharging. You know what, I was in the Air Force in the late 80s early 90s and so this kind of resonates with me. Let's see here. Another instance cited involved a dod that's the Department of Defense contractor who conspired with a company to illegally jack up prices for parts which ultimately cost the Pentagon 48 million according to the report. Ba ba ba. When I was in the Air Force it was, it was coming to life that they were paying like $9,000 for a hammer. It was kind of interesting what people were doing to Our government. And you know what sucks? Our government is us.
The government. Our government, they don't make anything. They only print money, which has been, you know, that's getting a little tougher to do without the rest of the world saying, enough of you. They print money or they raise taxes. So via your taxes, they get away with this stuff.
Got a couple more things. I'm watching the clock because I'm an adult Virginia councilman. Some of this stuff you just don't hear anywhere else. Anthony, this might be a story kind of like the wnba. Like, why is this on here? Just because it's interesting and this show is, is more fun than it is not.
I shouldn't have said that. Right before this Virginia councilman was burned over half his body in an attack. A Virginia city councilman who was doused with gasoline and set on fire in a brutal attack on Wednesday sustained burns on 50 to 60% of his body, according to the publisher of the local magazine where the councilman works. This is from the New York Times. On 30 July, Mr. Vogler, father of two, was scheduled to have surgery at the hospital in North Carolina where he had been airlifted after the attack. Mr. Brooks said most of the burns were on his torso. The only reason I bring this up, this country is so sketchy and everything I say when we're going to have a stock market crash, I believe, and a housing market crash, I believe, and a reset of our currency. I'm pretty sure when I say all that, it's going to get worse.
We give people in Arizona pass because if it's hot enough out, you should probably do whatever you want because it's just crazy hot. But the whole world has gone mad and you need to understand that. Oh, Matt's kind of putting up the clock. We only have four more minutes. I'll get to two real quick things and then, Anthony, I'll turn it over to you. Hulk Hogan's widow, Sky Daly, accused of locking down his estate, could inherit millions after his sudden passing.
I guess I better pick and choose and only read a couple parts of this. Hogan had allegedly set up a revocable as well as a personal trust to keep his estate out of the court. But if any particular assets were not placed in the trusts or if someone wants to contest the terms, the matter will inevitably end up in court. His two children, Brooke and Nick, and his third wife, Sky Daly, are all entitled to his fortune and have the right to contest any terms. I, I, the reason I bring this up, when you have A lot of money. You know a couple things about a lot of money. One, you still worry about outliving your money. So see us and we'll help you how to have a lifelong pension. Two, with money comes a lot of responsibility and perhaps a lot of problems. So this Hulk Hogan thing, his estate being under fire is what's coming next. And one thing I would start out with, make sure you know the laws, the estate laws in your state. Here's another quick article from the wealth advisor from 29 July, how Ozzy Osbourne's family is set to be ripped apart by his $230 million inheritance battle. The heavy metal legend passed away on Tuesday, July 22, surrounded by family, weeks after a final performance with Black Sabbath. He leaves behind his wife, Sharon, and six children, Amy, Kelly, Jack.
That's not six, that's not three. Whom he shares with Sharon. Oh, here we go. And his son Lewis, Jessica and Elliot, from his first marriage. And the only thing I'll put here, I'm getting rushed on time, huh? Future royalties will continue to roll in. Blah, blah, blah, blah.
So, Anthony, if I pass away of a heart attack or stroke while we're doing another money show or shortly after, I just want you to know it's all yours. The royalties, the catalog we have, the YouTube channel. I just want you. Except the funny parts. Any part that I was funny at, I want you to give that to your mom.
I'll send you these articles on Hulk and Ozzy, but it all talks about the mess that's about to ensue with large estates. So make sure you see our neighbor Mike, the estate planning attorney who's actually honest, and then can help you.
All right, I'm done. I can't talk anymore today.
[00:52:32] Speaker C: All right, good. So, anyways, that's it for today's show. If you like what you heard, you have any questions about the topics today or you want to sit down with us to review your financial situation, reach out to us at 623-523-0444. That number again is 623-523-0444. You can find us on the web anothermoney show.com. you can book appointments with us from the website.
Check us out on YouTube. Another money show. We got stuff on there.
But if you do want to sit with us, remember, there's no minimums. There's no cost to sit with us.
Really nothing to lose by getting a second opinion on your financial situation, you know, and let us help you put a plan together. Whether you use it or not, but we can be there to help you do it.
We'll see you again next Saturday noon right here in 960.
[00:53:22] Speaker B: The Patriot 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 anothermoneyshow.com investment advisory services offered through Brookstone Capital Management LLC, BCM, a register trusted 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.
[00:54:02] Speaker A: Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products. They do not in any way refer to investment advisory products. Rates and guarantees provided by insurance products and annuities are subject to the financial strength of the issuing insurance company, not guaranteed by any bank or the fdic.
[00:54:20] Speaker C: Have you ever made a dumb financial decision you wish you could take back? Are you worried one wrong move in retirement could wipe away all your years of hard work and savings? What if I told you it doesn't have to be like that? Most companies stopped offering pensions decades ago, but what no one tells you is you can fund pensions yourself.
Give yourself the peace of mind of having income you can never outlive in retirement by adding a pension as a part of your retirement plan. Hi, I'm Anthony Crayle, co host of another Money show airing on Saturdays at noon on 9 60, the patriot and advisor with Rotchrid and Associates in Sun City. Reach out to us at 623-523-0444. That number again is 623-523-0444. Let us help you plan your lifetime income in retirement today.
[00:55:18] 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.
