[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. We appreciate you being here, don't we Jer?
[00:01:04] Speaker D: Yes, we do. Thank you so much as always for being here. So I do want to start the show with a shout out.
I want to give a shout out to Art in the East Valley. So I changed his name to Protect the Innocent, I don't know, a week or two ago. And then I told him about it and he was, he was kind of bummed out. He was like, yeah, you can always say my name. So Art, we appreciate you listening. We appreciate I had a great conversation with him. Every time I talk to him, we talk about the world and what's, what's going right, which is nothing and what's going wrong, which is everything. And it's just, it's really cool that we have listeners that are becoming friends of ours. So. And Art did drive, I don't know, hour, hour and 15 minutes across town to see us recently and we appreciate that. So thank you, Art.
[00:01:49] Speaker C: He's also the one that taught us about freezing your property taxes for seniors.
[00:01:53] Speaker D: Yes, yes. So Art has given us some valuable information for our loyal listeners and, and we've had a couple people come in recently, so I thank you so much. If you're listening to the show and you take the time to call us or email us or come in and sit down with us, we appreciate it. So we're honored to help you, one person, one family at a time. With that said, the only other shout outs, we're up in Snowflake, Arizona this week. If you're wondering why you have two of us on screen instead of one we're together and yeah, it's beautiful up here. About a week and a half ago, Sandy and I were up and it was 41 degrees cooler in Snowflake, Arizona than it was in Sun City, Arizona. Last night as we were chatting with our Neighbors, it was 29 degrees cooler. So it's beautiful up here and we have a great time. With that said, we want, if you're new with us, something that we always like to make sure you know. Our show is not an hour long infomercial. Our show is about current events and how they're likely to affect your finances, your future, your kids, your grandkids, et cetera.
Our show is about making sure you're prepared and not scared and proactive and not reactive. We're a different animal in a world of the big wire houses. We are a fourth generation, fully independent, veteran owned, family practice. So we've been telling people lately, if you sit with us, you're going to get a little bit of a different experience.
We don't have the pressure and the quotas of the big dogs. We're not going to rush you in and out. Our, our favorite days are when we only have two appointments. One in the morning, one in the afternoon. Some days we have a little bit more. But I'll tell you what, you're not going to feel rushed. And when people offer good service, which we all have to, whether we deliver or not, we have to say we're going to, we really do. So give it, give us a try.
This week in the world, I guess it's interesting week at least in Arizona. There was a bubonic plague death up near Flagstaff, Arizona. So if you're listening from the, the northern part of the state, watch out. You know, don't, don't be petting hamsters or rats or guinea pigs or whatever the bubonic plague is from. I've been hearing more about COVID You know, we talked about COVID recently, this new variant, new variety. They're calling it the razor throat. They're saying that it's, it'll give you an intense sore throat, feels like swallowing glass. It'll come with fatigue, low grade fever, dry cough or congestion, headaches and muscle soreness. So I guess I've had Covid for about 10 years. Once I hit about 50 years of age, I started having like, you know, fatigue and, and I started having muscle soreness or maybe I have Covid. I don't know. You know what's interesting?
Maybe it's just so they can sell Ivermectin and hydroxychloroquine. But I haven't seen an influx of with people going into the next care. Urgent care next to us. We are neighbors with a urgent care center and I haven't seen more cars than usual. I don't know of anybody that's saying they've had Covid this year.
[00:05:01] Speaker C: That's just because everybody's dying now. We're not going to urgent care. White vans coming to pick people up.
[00:05:07] Speaker D: They're all dead. Like the movie Outbreak.
[00:05:09] Speaker C: That's why there's so many homes for sale.
[00:05:11] Speaker D: If you tie a white ribbon on your doorknob, we'll send them the morgue van to get you. So anyway, so if you're listening to us and you're stuck at home, we do have three and a half years worth of another money show on podcasts on our website. You can find us anywhere you listen to podcasts or websites.
Some good news, apparently you're no longer going to have to take your shoes off at the airport.
So I, I mean, I don't know if that's big news in the world, but have they figured out a way to screen my shoes so I don't blow up an airplane? Is that what's going on?
Want to talk for a second before we get into any articles about the big beautiful bill, I'm still, I'm, I'm mixed emotion. What I really want is I want this political administration to be successful. Anybody that doesn't want the president and their cabinet members to succeed, that's kind of short sighted because we are, no matter what side of the aisle you're on, we're all in this together. You know, when, when you deal with health care, borders, politics, taxes, Covid, anything we deal with, I don't care if you're red or blue, you deal with it too. And this, this beautiful bill, my whole thing, how I started out by saying I'm not a fan of it until they say we're going to cut spending, I'm just, I'm not all ears. So. And Sam, put up the debt clock. If you're not familiar with that website, please check out www.us debtclock.org. it's fascinating. You know, we tipped over 37 trillion in debt and I've got a article to get to in a little bit here that talks about how we're just piling it on since the passing on July 4th of the BBB or the OBBB if you prefer. Anyway, what I was getting at, I really want Trump to be successful with the bill, although it adds to the spending. What $5 trillion. You know, coming up, the tariffs, you know tariffs, are they on, are they off? Do they start August 1st? You know, I've got tariff fatigue so far this year. But anyway, I want things to be successful. My problem is I don't think there's a snowballs chance and you know where we're going to tip. Even if we get our head out of our sand and we make it through 37 trillion in debt as a nation. What the other countries in the world are tired of us. They're tired of our, the way we live. They, they, I think some of it's jealousy. You know, they, they see our social media, they see how we live and they don't like it. They see that we're fat, lazy. Instant gratification. Leading the world with, with obesity. I mean. But my focus is the financial matters. So I look at it like these bricks, you know, the big bricks meeting that, that did concern me. No, no repercussions yet. So I, I don't know how that plays out. I know 11 new nations joined but we. No, no news yet. The, the thing is this country is broke. Actually wait, let me stop there. Broke means you don't have any money. Broke is like picture zero. Like you're just zero. We're 37 trillion in debt. It's not going to end well. That's just on the books. You know, 29 children have the, the citizens o. I don't know what that really means but when I break down some of the numbers, I'm like this is just all smoke and mirrors. The fact is we're broke and a lot of people by the way are broke. You know, we've, we've, over the years we've talked about the statistics and how many people don't have $500 of an emergency fund. You know, how many people don't have money to retire and they rely on Social Security.
It's very scary. Anyway, so don, Don, Don Jr, Laura, all of you guys in the Trump family, if you're listening, I don't know, I hope you pull it off. I hope I'm wrong and this bill doesn't get us further in trouble. You know, I'm cautiously optimistic but as I take my time to dig into it, there's things that really bother me. I mean there's all kinds of stuff in there. You know, some of you that, that know me know that I like to play poker. I huge card playing fan. And there's new changes for gamblers how much of their winnings they can deduct by scrubbing their losses. It went from 100% scrub down to 90%.
There's a lot of people in the casino industry that are waiting to see no tax on tips. You know, are casino chips considered cash?
It's up in the air.
It doesn't start right away. It expires in like a year after it starts. It's just a lot of uncertainty. My whole thing, like Anthony said last week and he said a few times, keep the bill to one page so it makes sense. This thing is so convoluted. My newest discovery while pouring through the big. And it is big. What, 900 some pages. It's a big, you know, it's a big bill. So anyway, one of the things I'm going to read a little hair from one of the opinion pieces on something I found. Let's see here. We just funded the largest surveillance network in US History. The Big Beautiful Bill funds an AI powered dragnet with digital profiles on every American.
Think, think about that. Your data, communications and movement will be tracked and stored research Palantir.
So if you dig into the Big Beautiful bill, you know, set the spending aside for a second, if this thing is going to move us toward, I'll even say maybe China, like social credit scores and, and changes in the future because of what we say on social media, what we do, what we spend from our bank accounts. I got some heartburn with that, you know, and you always get the people, well, I'm not doing anything wrong, so what do I care what they watch? You know, I mean, that's, that's kind of a ridiculous argument because look at the political division, the last, let's give it like 15 years. Look at, look at it. Look. We are so far apart. If you look at the two sides of the aisle, whoever's in office today that's monitoring your movement and your communications, you might be fine with that. You're like, well, I align with that, that, you know, political party. I have nothing to worry about. Well, what if in three and a half years, the pendulum, which has swung three times that I know of recently, very dramatically. What if we swing back and we wind up getting somebody that doesn't like the way you think, the way you look, what you do to me, it's, it's scary as all get out. I had a little conversation this morning with my neighbor. I'll call him Thad when I change the name to protect the innocent. So, Thad, we're talking about AI. We're talking about how, you know, the last, I don't know, 15, 20 years, you're telling all these high school graduates, you're telling all these young people, you better learn how to code. You better be in the. In the computer world. You have to be a computer engineer if you want a future where you make money. You know what? We. We were misled. AI is going to take all those jobs. He's convinced that unless you're in the top, like 10 to 20% of your field, they're going to take your job. If you're a doctor or a lawyer or whatever.
I'm just convinced that it's like, it's going way too far, way too fast. There's way too many uncertainties. But the AI part of what scares the crap out of me, who's going to be in control of it? Another thing that Big Beautiful Bill did was it basically said the federal government is going to oversee AI States are not going to have a right to censor it, to change it, to throttle it back.
If you're not nervous about that, I mean, if you look at everything we brought to you in three and a half years in the show, we're going the wrong direction. This AI stuff, this surveillance stuff, Palantir, we're heading toward, you know, total government control. Not that it's already not bloated, out of control and way too big as it is, but we're heading towards total control.
So. And the solution, I don't know, Anthony.
There's been a civil war.
There's. There has been World War three, not.
[00:13:18] Speaker C: Everything all at once. JR do you not listen to me? It goes like this.
[00:13:23] Speaker D: That part of my thing, Anthony, is so mellow. I am so not. And for me, I'm like, I'm not going to have to see the ramifications of AI coming. I'm not going to have to see when. When the BRICS nations completely de dollarize us, when they topple the world reserve currency. If I'm here in a month from now, I'll be super happy. So, you know, nothing happens next Wednesday. It used to always amaze Anthony was like, you know, January 1st, they flip the light switch and we start over. Now, I get that everything in life is a slow creep, but we're in the most unchartered territory, uncertain times in the history of the world.
And this stuff with surveillance and Big Beautiful Bill, it just scares the crap out of me. And if you're going to be mellow during this, you are powerful.
I can only see your ear I can only see Anthony's ear right now. We're sitting next to each other recording today, which I think is the first time ever. Yeah, I don't think we've ever been together while recording. So this is good.
Part of my thinking, with everything going on, what do you do about it? Anthony's point has always been so you're worried. So you get all excited.
You know, you have to vote, you have to do certain things. You should probably pay down debt, you should save a little more than you spend. But what are you going to do about AI? Well, you know, part of my issue.
I cannot do anything.
I can't do anything. But what if millions of us that couldn't do anything ever woke up and said, we are not any longer going to accept what you say is coming. We the people, you work for us, you are our representatives. We want some say.
The states want say in AI. The people want a say in the states that have a say in your AI. Stop becoming bigger government. You know, if you took millions of people and they got together, they could make some noise, it seems to me. Oh, today as we record is the 17th of July. I had to think about what month it is, but I knew the day. 17th of July, today is another like a no, Kings Day. I meant to bring that up right away.
Let's see, today is, there's the. And I, I'm up in Snowflake, so we're not seeing any big rallies or anything. But today is the Good Trouble Lives on day. So as you hear our show Friday night or Saturday, we'll see, I'm sure nothing will happen as usual and why, hey guys, why are you protesting on a Thursday?
You know, part of the country has to go to work.
If you want a bigger turnout, continue on your Saturday protests. So anyway, let's see here. Key points that I read from Arizona Central.
Protests against the Trump administration policies called Good Trouble Lives on are scheduled for July 17th. The five year anniversary of civil rights icon Representative John Lewis is death. The protests were inspired by Lewis term Good Trouble, advocating for peaceful nonviolent demonstrations.
Keep in mind they should be peaceful and nonviolent if you want to win points with the rest of the country.
Let's see here. Events will take place at various locations across the Phoenix metro area with some addresses provided upon rsvp.
So if you're listening on Saturday, I'm curious what we had on Thursday. We'll actually, we're going to be traveling later this afternoon, so we'll see if there's any protests in pacing or whatnot.
Should we move on? Yeah. Should we get to articles? What should we do? I guess the end of what I was going to say if, If I can't do anything about. This stuff is changing. But there was a million of us that couldn't do anything and we were loud enough, we could change things.
[00:17:25] Speaker C: But what are you going to do if you get. You're going to call, you organize a million people and everybody's on board right now. What do you do?
[00:17:31] Speaker D: You call your representatives, you call your legislators, you fight. I mean, it seems to me like people that want to protest politically, they do pretty well at gathering.
It's. There is. They're so scattered, though, you know, no kings. We don't have a king. I mean, you know, the president that's in power right now was elected, you know. Well, there was a fraud. Well, you know what I mean. I'm starting to think every election's a fraud, some more than others. But I don't know. We have to organize. We have to get people that say enough is enough. And I fear that how things go, it's like if you're out doing yard work and you've got, you know, pruning shears and you cut yourself and you're bleeding pretty good, you're going to go in the side of the house, you're going to wash out your cut, you're going to bandage it, and you're going to go back and finish your yard work. If you break your arm and you see bone exposed, that's when you're going to have to go to the hospital. This country is bleeding all over the place, but we don't see a broken bone yet. So we're just hobbling. And I think it does come to a head. I think we are finally, finally seeing the beginning of the down cycle in this country. If you look at homeownership, if you look at, you know, the lack thereof, people, people, the average person now that's buying a new house, the average family are in their 40s.
Don't tell me the American dream is not on life support if it's not dead. You, you know, people in their 20s, they can't buy a house. They can't afford an average price house in the 400 range and then an interest rate of 6.2 to 6.8. I think it is currently, at least last week it was. When I looked, it's. Things are really. It's crazy. Yeah. Sam brought up, how do you afford children? I mean, it's hard enough to get into a house. How in the heck do you afford to have kids nowadays? So. And I won't even get into the birth rate of. Of white people versus, like, you know, Muslim Brotherhood and other countries that are having kids left and right. I won't bring that up because that'll make me sound like I'm going towards the race card. So, anyway, I guess I'm kind of scared today. But what I really want, I want smaller government. I. I want things not to keep spiring, spiraling out of control like I feel that they are, so. And what we can do is how Anthony and I help people. This radio show, we. We talk about different stuff every week. And if it piques your interest, we hope you look into it. We hope you. At least, we hope we're waking people up to the fact that things are not as they appear on the surface. We're busy. You got kids, you got work, you have stuff to do. You're too busy to see underneath your feet. Things are changing, and maybe not for the better. If you listen to us and you're already on the same page, you probably just find it interesting and entertaining and maybe a few new things here and there. If you're listening to us because you're like, man, these guys are crazy. Hopefully you look into it and find out everything we bring you is true. We vet and verify to the best of our abilities. What we bring you is what's going on. And hopefully you start paying down debt, getting under the radar. I mean, if you have a chance, you know, to buy land, to do stuff, to prepare for what's coming for you, for your future, for your kids. Good, good. You should do that. And lastly, do you want to talk about Jerome Powell? Jerome Powell. Boy, that was a segue, Jerome. Speaking of the end of the world.
[00:20:46] Speaker C: If you had a segue, I was just going to fill it. That's really the only thing I wanted to talk about in the show.
[00:20:50] Speaker D: So, speaking of the end of the world, Jerome, if you're listening, apparently it might be the end of your world. I mean, apparently there's a lot of scuttlebutt. Is that. Is that still a word? Does that show my age? There's a lot of scuttlebutt, a lot of talk on Jerome Powell.
I'll reference one article, and then I want to hear what Anthony has to say about Jerome Powell. We can't tell if he's staying or going. You know, Trump obviously has been extremely vocal for the last six months, and what do you think should happen? But Let me give you something. Oh, and by the way, when I say if we wake you up, and we hope you, you know, dig a little further on what we say, we keep everything we go over on the show. I have three years worth of e. I can email you the articles. You know, we cite the sources on here, but we can actually send them over to you. I have hard copies of most of it that actually makes on the show. So we'd be glad to show you where we're getting all this stuff. So anyway, this one is from MyTrade.com it's spelled M I T R A D E.com insights from 71125 Jerome Powell agrees to resign as federal Chair after sustained, sustained pressure. I'll just read a little bit of this. Jerome Powell has agreed to step down as chair of the Federal Reserve following relentless attacks from President Trump and his inner circle, according to a statement released by Bill Pulte, the current head of the U.S. federal Housing Finance Agency. Tensions had been building for at least a year now with these two. But on June 9, Donald Trump demanded an immediate 300 basis point interest rate cut, which is economically senseless in. Yeah, so this article, I can't tell if it's pro Powell or pro Trump, but I can tell you what 300 basis points, if, if you're not familiar with what a BP or a BIP or a basis point is, it's a tenth of a percent. So 300 of these, that means he wants the rates of a percent hundredth of a percent. He wants 3% interest rate cut, 3% and the interest rates, by the way, if you're watching them, if you watch the 2 year, the 5 year, the 10, the 20, the 30, they organically, they're moving, they're jumping around depending on what's going on day by day, depending on the auctions, that sort of thing. But that would kill this country for savers.
That would hurt us, me and Anthony, Anthony and I, I'm not a grammar. So that would hurt us. I'll tell you why we have the most favorable interest rates on safe products that we've had in about 15 years. We, we've had this window. There's, there's big dogs on the radio talking about annuity rescue, talking about refinance, your annuity, all this stuff. We do that too. If we can better your situation. We're doing the same thing the big dogs are doing. We're just doing it one person, one couple, one family at a time because we're a family practice. But I I can tell you what we, we really right now you're in a window of amazingly good rates and amazingly good potential on retirement planning, pension planning. So I mean I'll be curious to see if Powell steps down. I'm going to read Powell kind of.
[00:24:04] Speaker C: Ruined it in the for the first I even know I say this, but early on, right, 2018, they started to raise rates because we had zero percent interest for too much too long. Finally started to raise rates the market through a fit. So what does that say? That says that the market is being fed by low interest rates into this massive bubble. We finally have decent interest rates. And I'm sure if you're listening to AM radio and 960 the Patriot, you probably remember double digit interest rates at the banks on your mortgages, you know, and the reason you have higher rates is because in times of tragedy you can drop rates and you can do some things. Well we had no rates going into Covid. They had nothing they can drop. So caused all this quantitative easing which led to the inflation would lead to Jerome Powell finally raising rates. And as far as I'm concerned, he never raised them enough or fast enough or high enough.
Still, I think rates are incredibly low. So with Trump coming out and saying he wants to cut him by 75% practically, you know, go from four and a half, four and a quarter down to one and a quarter, you know, one and a half, that's absolutely insane. Now the reason for that is because one, it makes our debt cheaper.
But we already have people that aren't buying our treasury bonds. So why would anybody, if they're already not trying to buy it, you know, the ten year treasury or whatever it is now, if you drop that by 70%, why would anybody want to purchase that?
[00:25:38] Speaker D: We can't win.
We're paying a trillion dollars a year on the interest on the debt. It's what, the second or third largest spending item we have in our books. So Trump needs the rates to go back to zero. You know, the only way out of what's going on in this country, I fear more money printing quantitative easing. 17 we're in deep, deep trouble in this country. And yes, you need to isolate. What can I do about it individually, you have to do the best you can with your situation. You have to be diversified. We always tout diversification, moderation. You know, hopefully you've been paying down debt, buying hard assets. This, this thing with Powell though, it doesn't make sense. I mean we need to be adults and we need to work this out. We need to have steady rate cuts. If we have rate cuts, we need to figure this out.
[00:26:26] Speaker C: We're still facing inflation now.
[00:26:28] Speaker D: Yes.
[00:26:28] Speaker C: Our rate cuts going to help? They're not. They're only going to hurt. What they will help is more cheap money to feed an already inflated stock market to create an even bigger bubble for whenever. If it ever reverse, which, I mean, it has in the past, there's no reason that you keep going up outside of just being artificially fed. It's absolutely insane.
[00:26:48] Speaker D: Do you want to hear a financial advisor, I've been in the office a long time, almost three decades, say he hates the stock market, the manipulation, the Teflon Dow being comprised of 30 companies.
There's so much, there's so much going on. Why don't we do this? Because I want to finish up on Powell and interest rates. So let's take a break so we wrap that up. If you are so inclined, please reach out to us, give us your show ideas, ask us questions, Set up a time to sit with us. Whether you want me or Anthony or both, we will be more than honored to sit with you. Let us be a second opinion. We are at 623-523-0444 or you can always email team another money show.com and and we will get back to you quickly. Thanks so much for being here. We'll be right back.
[00:27:37] Speaker B: Another weekend, another money show. Visit anothermoneyshow.com tumble out of bed and.
[00:27:44] Speaker D: I stumble to the kitchen Pour myself a cup of ambition and yawn and stretch and try to come to life Jump in, shower and the blood starts pumping out on the streets the traffic starts jumping with folks like me on.
[00:27:58] Speaker A: The dark Remember, all of Junior and Anthony's listeners receive a free financial consultation just for listening to the show. Visit anothermoneyshow.com to learn more and schedule an appointment. Thanks for listening to Another Money show and subscribing wherever you listen to podcasts.
[00:28:14] Speaker D: Welcome back to Another Money Show. Thank you so much for being here.
I. I don't want to forget to remind you. Make sure you go over to YouTube and look up another Money Show.
Shelby, Sam, these guys work really hard to keep this stuff moving on there and we've got over 600 subscribers. And you know what? We have like 320,000 views on our different videos and shorts. So if you want to check out our shorts, please go to YouTube. Look up another Money Show. We would be glad for you to do that.
Finishing up on Powell. It's really, really up in the air because if you read 10 articles for five are going to say he's on his way out. Five are going to say there's no chance, you know, you know something that if you don't know this, Trump appointed him during his first term. So a little, little cocktail party trivia for you. Trump appointed Jerome Powell during this first term.
[00:29:06] Speaker C: Oh, I don't know who appointed him.
[00:29:08] Speaker D: Yes.
[00:29:08] Speaker C: Oh, he's terrible. Who would, who would do such a thing? It would be so dumb to appoint him. Well, now we know.
[00:29:13] Speaker D: So Trump, you need to make sure, you make sure, you know, don't, don't say step on your own foot. So, couple more things from this, my trade article.
Here's some. Standing on the White House lawn Friday morning before flying to Texas, Trump tore into the Fed chief. I think he's doing a terrible job. I think we should be three points lower interest rates. He's costing our country a lot of money. Trump added that America should be leading the global economy, but it wasn't because of Powell. Going a little further, the last thing from this article, legally, Trump cannot just sack the Fed chair on a whim. In May, the Supreme Court ruled that Powell or any Fed chair cannot be removed without cause. So instead of legal action, Trump's team switched to personal pressure and very public attacks, especially targeting a $2.5 billion renovation of the Fed's main building in D.C. we tore into that last week and we gave you some specifics on what the money's be spent, you know, being spent on. Go back and listen to last week's show if you want a little more information on that. But it looks like that might be one way for foul for foul for Jerome Fowle to be pushed out is spending two and a half billion dollars on renovation on a building.
[00:30:33] Speaker C: The article says he agrees to resign. But I can't really find anything else that says that essentially he's just being bullied out. They're trying to find excuses to fire him. I wasn't happy with how he was leading things, but you don't want Trump to come in and appoint somebody who's going to drop it, you know, three points. But here, here's how it affects you, right? Because again, higher rates are terrible for mortgages, they're terrible for loans, but what they are good for is for savers. So how this affects you directly, as right now we've got these FIAs, which are, you know, you earn interest based on what the market does, but if the market goes down, you don't lose anything. That's a Benefit So they limit your upside. But these limiting of the upsides, I mean we've got caps over 10% on a lot of these products now. And this is the the 17th of July. But right now we've got one that tracks the qqq with a 12% cap which is absolutely insane to be able to make almost 12% off the NASDAQ with no risk of downturn losses. Now if that, if what happens if we go back down to one and a half, one and a quarter for these interest rates, those caps are not going to be double digits anymore. These caps are going to be, I know, 3, 4, 5% like they were.
[00:31:44] Speaker D: For 15 years before the last few years. Yes. And you know this affects you. All of this stuff affects you. If you're in fixed products like fixed index annuities, if you're in multi year guaranteed annuities, which I consider to be like a CD replacement. You know, we met with a person up here in Snowflake a couple days ago and he was talking about the CDs that he have. He's got CDs coming due soon. And he said that you know, it's gonna be hard for us to help him because they're giving him 4%. And I was like, well you know, I mean the CD alternatives we are. And again, as Anthony said, today's the 17th of July, our July rate on a one year CD alternative. One year, you got 30 days at the end of one year to to take action with it. 4.15%. So yes, we can compete with the banks. The difference is your cd, your, your insurance is through the Federal Deposit Insurance Corporation, which we need to get back to slamming that whole system because they're broke. They have billions of dollars to protect trillions of dollars of depositor assets. You have roughly one point, what is it currently? 1.7% ish. Through your FDIC. You know what you have through the insurance companies? 100%. And they have to run state by state to guarantee your accounts. It's not federal when the banks get stressed, when they close their doors, it's the federal people that oversee that. You do realize the irony of federal people that are 37 trillion in the hole, those are the people that are gonna come to your rescue. I can tell you right now, unless you're Mark Cuban with Silicon Valley bank, they're not coming to your rescue. So you may want to take a few minutes to look up fdic.gov, go to Statistics at a glance and look to make sure I'm telling the Truth on what kind of protection you have. Then you want to go a little deeper into the rabbit hole with me. Just do a little Internet search and look up. It's two words, bail N B A I L I N and see what you think. Because we are in deep trouble. I'm sorry. You know, let's. So you, you, you know another thing.
[00:33:56] Speaker C: On CDs though because I literally had somebody in the office earlier this week ask about that. But they said that they had a six month CD for about 4%. People need to know that you're not actually making 4% on your money in those six months. 4% is the annual annual rate. So as if you had a 12 month CD and it's 4%, you're getting 4%. If you have a 6 month CD you're getting about 2%. You're not getting the full 4% unless you hold the money and rates stay the same for that additional six months.
[00:34:28] Speaker D: And if rates go down by 3 points, they're not going to stay the same. Sorry. Banks do it daily, they do a weekly. They change the rates pretty often. You know, usually you get a little more cushion. My experience, you get a little more cushion with the insurance companies. Our one year product right now, they change the rate each month. So at the end of this month we'll see what it is for August. But yeah, the banks are a little more volatile and I just, I want you to know that everything you've been taught, there's also other options and we can help you with finding them. You know, Sam, put on the screen, you need to refinance your bank CDs and other safe money. Let us be a second opinion and show you what's out there where we can maybe raise your rates. But we can pretty much guarantee that we're going to give you guarantees and that should be important to you. But who knows? Let's switch gears. We'll stay with money for a few minutes. You know we are a money show, of course. So this is from the Daily Hodl. On 11 July 25, US national debt surges $384.7 billion in one week as massive pile of debt shatters. The new all time high US national debt has reached a new record high just one week after a massive spending bill cleared Congress. Congress. I'm pretty sure that's the big beautiful bill we're talking about here. The Treasury's debt to the penny database shows the government's mountain of debt surged by 384.7 billion from July 3rd to the 9th. Let that soak in July. Third to the 9th, that's less than a week. We went up by a third of a trillion dollars on the books, so. And there's more coming. The spending bill signed by President Trump raised the debt ceiling by a whopping 5 trillion, the largest increase in U.S. history. So whether you're conservative or liberal, red or blue, right or left, whatever you consider yourself, this is going to transcend party lines. Let's see here. The debt ceiling now stands at 41 trillion, averting default until 2027.
We're halfway through 2025. So 2027, I'm not good with math or numbers, but should be coming at us in about a year and a half. I have a question for Anthony. What is a debt ceiling? And more importantly, why does it matter? You've been in the office when there's already we've hit a debt ceiling or two since you've been there. Does it matter?
[00:36:52] Speaker C: It does not matter.
[00:36:53] Speaker D: It does not.
[00:36:53] Speaker C: They raise the ceiling.
[00:36:54] Speaker D: They raise the ceiling.
[00:36:54] Speaker C: So it's no ceiling.
[00:36:55] Speaker D: What good's the ceiling if you're going.
[00:36:56] Speaker C: To raise having a benchmark of 30 companies in the Dow, but instead of letting them run their natural course, you remove the ones that don't perform so it always looks better.
[00:37:05] Speaker D: Oh, like last year when they took out Walgreens, which is a pretty stable staple from my entire life, and they put in Amazon, which is a little more volatile. So yeah, what good is a debt ceiling if all you have to do is move it? So stop, stop talking about it. Just spend it, spend it, spend it. And then when we default and we lose the dollar, then what Anthony and I started three and a half years telling you is coming. It's coming. We're going to research again. Fed. Now we're going to tell you, we're going to tell you your central bank digital currency is ready. So prepare accordingly.
Wide ranging legislation permanently extends the 2017 tax cuts. Good news. Reducing federal revenue by trillions over the next decade. So we're going to jam up how much we spend. We're going to have to move the debt ceiling again in a year and a half and we're going to take in less revenue. Seems pretty smart to me. Hey, Jerome, Jerome Powell, if you're listening and you're still in office, maybe you should look at these articles I get. We need to send our show to him and let him know that he better get busy while he's still there. Last thing I'll read from this, the Trump administration Disputes the estimate. And the Treasury Secretary, Scott Bessant, says he believes the bill's tax cuts and deregulation will spur economic growth that outpaces deficit concerns. That is exactly what I started the show with. If we get away with this reckless spending, if we get away with what we're doing as a country, and we can grow our way out of this. Hey, I. I can't wait how you.
[00:38:32] Speaker C: See your economy standing. Because it. I see the stock market expanding because we're going to give it a bunch more free money, but I don't see our economy expanding.
[00:38:40] Speaker D: Our economy is indeed.
[00:38:41] Speaker C: If we have 50% of people who don't have $500 in, you know, in savings, that's not an expansion in an economy.
[00:38:48] Speaker D: Well. And you know, for half the country or better, it's going to be a good thing when the central bank digital currency gets here, because then we'll just give you what we deem your.
Your portfolio.
[00:38:58] Speaker C: Universal Basic Income.
[00:39:00] Speaker D: It's coming.
It's coming. I don't like it. I don't like the idea. I'm a capitalist at heart. I'm a free market society dude. So I don't like it.
Let's get into something that might affect people that are listening directly and on an ongoing basis. I was in the office when a company in Phoenix had a little trouble. We had investors that put money with a place called the Red Door Group. If you remember that name, you're probably older like me. So the Red Door Group was giving away really, really good returns. It was like a reit. It was like a commercial. I think it was commercial real estate holdings. And they were given whatever it was, like 18 or 20% return.
And here I am with Safe Products not being able to compete with that. And I was like, yeah, but risk and reward. There's a relationship between risk and reward. If you're getting that kind of reward, what is your risk level? And people don't care. They just want to see those returns. So here, here's a. And we see these pretty often. We don't bring them up, actually. We've got a client who certainly won't mention the name, but we've got a client. He and his wife, they. They put their retirement savings into a company that they got too much returns and they lost their money. I saw it firsthand. And of course, when I was new in the late 90s, I used to go to people's homes with my father that lost money through the Baptist foundation and different organizations. So be careful next to your health Your money should be the second most important thing you deal with. Anyway, here's an article from 14 July from the Daily Hodl.
Alleged Ponzi fraudster fleeces 140 million from 300 investors after loan business collapse. This is according to the sec.
I believe that's the securities Exchange Commission. Oh, yes, it is. The U.S. securities and Exchange Commission says that a Georgia man allegedly defrauded 300 investors in a Ponzi scheme after his loan business fell apart.
Anthony Aramain. Sam, my favorite song. What state are you in? Oh, Georgia. Georgia. Okay, let me read further because I'm not trying to put any thing together here. In a new press release, the SEC is accusing Edward. Oh, good, it's not. Edwin Brandt Frost iv. That's a great name. Edwin Brandt Frost iv. What a knob.
[00:41:20] Speaker C: Name letters.
[00:41:21] Speaker D: Yeah. And to have the fourth after your name, you got to be some kind of a Desmond that. Yeah.
So for his business, First Liberty Building and Loan, of running a Ponzi scheme by misappropriating funds and misleading investors. According to authorities, between 2014 and June of 2025, the firm operated by offering investors promissory notes and loan participation agreements with with returns of up to 18% for short term loans to businesses at high interest rates that rarely defaulted. Sounds really good. I'd put some of my money in that. Frost and his company allegedly assured investors that the defaulted loans would be repaid by borrowers using funds from the Small Business Administration or other commercial lenders. That's where it starts getting a little bit fuzzy. But since 2021, Frost allegedly ran First Liberty Building and Loan as a Ponzi scheme after most of the loans defaulted. The SEC accuses Frost of using new investor capital to make principal and interest payments to existing investors. That is a Ponzi scheme. Let's see here. The complaint also alleges that Frost misappropriated the funds for. For personal use, such as purchasing rare coins, paying off personal debt, and going on vacations. The SEC accuses Frost and First Liberty Building and loan of defrauding 300 investors to the tune of 140 million, says Justin C. Jeffries, associate director of enforcement for the SEC's Atlanta Regional Office.
Here's. Here's. I'm all. It's getting to this. I want people to be careful.
The promise of a high rate of return on an investment is a red flag and should make all potential investors think twice or maybe even three times before investing their money. Unfortunately, we've seen this movie before.
Bad actors luring investors with Promises of seemingly over generous returns. And it does not end well. The reason that I'm emphasizing this article today, perhaps over all other articles lately, lately we've had more clients that are, that are putting money with things that I, you know, I ask some questions I'm not sure they can articulate to me and explain why the rate of return they're getting is so much higher than street rates on banks and investments and annuities and other products. You know, I mean, if you put all your money in, you know, let's say Bitcoin or Texit or one of these cryptocurrencies and you, you know, are now a gazillionaire, that makes sense because those things are, you know, one minute they're a submarine, but the next minute they're a rocket ship. So. Okay, I can see where your returns are so high. If you're buying into commercial real estate, residential real estate, health care trusts, if you're, if you're pooling your money into anything with buildings right now, keep your eyes open because all you have to do is go on Redfin or Zillow or look at the continuous days of market slowing down. Look at the glut of homes in multiple cities across the country because everybody.
[00:44:49] Speaker C: Got Covid and died.
[00:44:50] Speaker D: Everybody died. There was a white handkerchief on all the doorknobs. But now the buildings are for sale.
[00:44:54] Speaker C: What is, is why refi still advertise.
[00:44:58] Speaker D: Ton oh yeah, R Refi.
[00:45:00] Speaker C: Because that's what reminded me of this. When you're reading the article and it's talking about like, oh, these are bad loans, but we're buying them cheaply and repackaging them. I was like, I'm pretty sure that's what y Refi did. Not to say that it's become a Ponzi scheme. I'm just saying that's kind of what this sounds like it started as well. And I'll things get bad and then you know what?
[00:45:19] Speaker D: Life, a big part of life, first come, first serve. If you think a bank bail in or a bank holiday is imminent, get to the bank before other people and get your money out. Transfer your money, do something if you're worried. You know, we'll give you the best shot we can. If Anthony and or I go to our bank and our credit union and pull our money out. We'll tell you, we've already told you for three and a half years you need money for your insurance, your cell phone. You need money for working capital, for your month to month bills. But money above that, you May want to have some physical cash in your home. You may want to pay down some of your high interest rate credit cards. You may want to look at insurance company to ladder your money out. We can help you.
So my thing, if you look at real estate right now, it's been booming for quite a while. We've had quite a run. There's been quite a cycle, especially since March of 2020. Covid was a game changer in the valuations of homes. But you know what, there's cracks in it. It seems to be slowing down and I just, just because we've had several people lately say they've got a lot of their money with, with hard, you know, money lenders and with these kind of things. I want to make sure you're watching the environment around you because if you're getting 18% today, you may not be in a year from now. So you, you got to keep your eyes open. Anthony just brought up, what student loans did you bring up? What'd you bring up?
[00:46:44] Speaker C: Oh, the bad loans. Why refi repackages?
[00:46:48] Speaker D: Why refi? That's what made me think of this. I have an article here from 10th July from msn.com Trump ends student loan subsidy for 7.7 million people who will soon see their bills increase.
The Trump administration announced Wednesday that it would restart interest charges for student loan borrowers enrolled in the Biden era, saving on a valuable education plan or the save increasing bills for nearly 7.7 million people. On August 1, the Department of Education will resume interest on save payments, giving enrollees just weeks to figure out a personal financial plan after spending the last year relieved from making interest free payments while litigation played out.
We have people that have student loans. We have clients. We have clients in their 30s, 40s, 50s with student loans. We have grandparents helping grandchildren with student loans. So we want you to be aware of this. It seems like there's some changes coming. We have heard that FICO scores are dropping when the government said, yeah, no, we're not doing all this loan forgiveness. You're gonna have to start paying back your loan and people don't have the money or they don't want to spend the money because they're used to not, they're, they're, they're going to get in trouble with their credit score which is going to make everything, more money when they go to get a new car or whatever.
So very interesting. What's going on?
Should we talk for a second? Since I dipped my toe in the cryptocurrency world, Anthony I believe was the one that gave me an article from the Daily Hodl from the 11th of July. Maybe I got it myself, I don't know. But I want to give him credit. He's sitting here.
So this could very well be the ultimate bull trap. Trader issues urgent crypto warning as Bitcoin blasts past $118,000. $118,000 per coin that you don't own. You can't have. You can't say I want to put those things in my safe. While there were so much. The only reason cryptocurrencies have the values they have is because we're giving them the values they have. You know, the law of scarcity, the fomo, the fear of missing out. There's a lot of reasons cryptocurrencies are on a tear again. But this article's interesting. An analyst who became popular after accurately calling the 2022 crypto meltdown is warning that bitcoin's explosive move may be a bull trap. A bull trap is a false signal that indicates that the bearish trend is over.
But then the price abruptly reverses course and you witness a deeper down draw. He also expects another black swan event, which is a rare and unanticipated event that catalyzes a massive market meltdown. We've already seen a form of a black swan event with the Middle east conflict escalation, but I'm expecting another one. Me too.
Who is this? Who is this dude? Me too. Anyway, yeah, we, we just. Here's. You know, when he talks about Middle east, we, the United States bombed Iran a few weeks ago. You know, I know our news cycle is pretty fast. I know we moved on from that. And now all we have to think about is Epstein, so. But let me remind you, we bombed Iran. What happened? You know, we expected some reaction out of China and Russia. Nothing.
Chipmunks. We. We on this show reminded you if you're going to be in a large group on the 4th of July, make sure you know where the exits are. And keep your head on a swivel because, you know, there was a little talk of sleeper cells. You know what happened after we bombed Iraq? Nothing. Not a thing.
All right, back to the. So, you know what? I agree with you, sir. I also think something is going to give and then everything is going to. Kind of like dominoes, you know, have a little bit of trouble in this country. Let's see here. Despite BTC reaching an all time high, altcoins remain a clear resistance. Something feels off. I don't trust this Move. Lastly. Oh, the guy's name is Capo. Capo says Bitcoin may be forming a blow off top a chart pattern in technical analysis showing a sudden rise in price that is followed by a sharp decline.
Looking at this chart, Capo suggests bitcoin may correct to the $64,000 range. Bitcoin is trading for 117,000 at the time of writing up 5.4 in the last 24 hours.
[00:51:27] Speaker C: Well, hopefully people buy when it dips.
[00:51:29] Speaker D: Yes, but they don't. We buy high, sell low. That's what we do. If we were able to buy low, sell high, if we had the stomach and discipline, everybody would be wealthy. You know what? Saving money, becoming wealthy, it's like dieting. If it was easy, we'd all be thin. Dieting is difficult. Becoming wealthy is difficult. If it were easy, we'd all be rich. Let me revert you back to the very last topic of conversation about four minutes ago.
If you're getting 18% return on your rates, if it seems like a cycle's coming and it could be too good, be true, how do you explain bitcoin?
Max?
They bring up to the Pet rock, the tulip, the Beanie Baby. We, we those shot through the roof on a much smaller scale.
[00:52:12] Speaker C: So this is fascinating, right? I brought up why Refi and I feel like my. Because we were talking about the article, we were talking about like, I feel like my words might get misconstrued. So I sent, you know, I, I described to a client who was interested in why I didn't like what they were doing. And I screenshotted something from their site because I thought it was important for them to know.
Question is, what type of investments does Wirefi offer? Y Refi specializes in refinancing distressed private student loans. Distressed private student loans. So I wanted to find that again. That's not what they say on their website anymore. Now it says accredited investors can invest in promissory notes for durations of one to five years. Each note provides a fixed interest rate with interest calculated daily and payments on interest only paid to the investor monthly.
Investors have the flexibility to take the interest income or reinvest or compound it. It just says nothing about the distressed loans anymore, about what they're actually investing in. That's fascinating.
[00:53:15] Speaker D: So we by no way, shape or form are trying to disparage Y Refi. But if you have money with Y Refi, make sure you know what you have. Make sure you know what it's doing. We have to start wrapping to the show. This went fast. At least I got through half my articles so that's pretty good. It's actually on par for me.
[00:53:32] Speaker C: Oh there he does. It does say it down here. Anyways, that's it for today's show.
If you like what you heard, you have questions on any of the topics today, reach out to us
[email protected] find us on the web anothermoneyshow.com give us a call. 623-523-0444. That number again is 623-523-6-0444 and I did find on the YREFI website where it does say distressed loans again, just not in that same spot I found before.
[00:54:00] Speaker D: So good. So you brought stuff that people are defaulting even in good times. Excellent. Thank you for being here. We'll see you next week.
[00:54:07] Speaker B: Thanks for listening to another money show. You deserve to work with a private wealth management firm that will strategically work to protect your hard earned assets. To schedule your free no obligation consultation visit anothermoneyshow.com investment advisory services offer through Brookstone Capital Management LLC. BCM. A registered investment advisor. BCM and Rochford Financial are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results.
[00:54:45] Speaker D: I think we can all agree Losing money sucks. No one likes to lose money, but Outside of the one month downturn in 2020, the biggest black swan event in modern times, has anyone really felt the pain of a stock market loss? Has everyone forgotten how devastating 2008 was? What about the dot com bubble? Are we all so naive as to think that this could never happen again? Hi, I'm J.R. rochford, host of another money show with almost three decades of experience. What if I told you I don't care if the bubble bursts again? Because there's a way to make sure that market downturns don't throw off your retirement assets. Come and go income is forever. Protect your retirement by self funding a pension and you know you'll never outlive it. You may not have been lucky enough to have a job that offered a pension, but that doesn't mean you can't start your own. We can help. Reach out to us at 623-523-0444. That number again 623-523-0444 or find us on the web at anothermoneyshow.com and let us help you not worry about your retirement.
