[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.
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 Carreo and JR Rochford.
[00:00:43] Speaker B: 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 Fully independent fourth generation family office right here in Sun City to bring information you may not find on those other shows. We are aware the last thing you need is another money show, but we appreciate you being here. What do we got? We got Bitcoin today we've got Bernie Sanders today we got the irs, we got the Pentagon and much, much more. Where do you want to start?
[00:01:11] Speaker C: Let's start with the most important stuff and work our way backwards. So did you know the movie Wicked comes out this Friday? Apparently so. By the time you hear this, the movie Wicked is out. I heard on local news last night that they're going to have a no talking and no singing policy at some local Phoenix area movie theaters. They're afraid people are going to try to sing Wicked. I don't know what the hell are Wicked is, but I can tell. I can tell you something I find funny. Read a little article on Money Watch on Veterans Day the 11th of November. Says here Mattel False print error for porn site listed on Wicked doll packaging so apparently if you bought one of the Wicked dolls, they've since been removed. If you bought one of the Wicked dolls, the link to explore Wicked is truly more wicked than you thought it would be. Their answer I'll just read one line from this article because I think it's pretty self explanatory. People who already bought one of the dolls are being urged to throw out the packaging or cover up the link Mattel stated. So if you bought a Wicked doll, make sure you reach out to us, send us the link so we know we'll check it out, make sure it's one of the bad ones and then throw away the box. All right. We you know what? We always have so much to do. Every week we have so much to do. Last Week before we started recording Sam, the one and only Sam Davis and I were talking about Jimmy Kimmel. So as long as we're on current events, Jimmy Kimmel, apparently his last show is going to be on January 20th and then he's going to move out of the country. Oh, I heard on Joe Jaquen show this morning. So hang on, Ellen Degenerate moved. So apparently she's. Her and her girlfriend are moving out of the country. So I thought she was funny like 30 years ago and now I'm sad to see her leave. Jimmy Kimmel, good on you. You've been threatening it for a long time, so let's see if you do. Jimmy Kimmel to me is the epitome of ridiculousness. He's up there to me with the masked singer. If you watch Jimmy Kimmel, whatever is it Kibble, whatever the hell his name is.
What a ridiculous, you know, there's a big push on acting right in society. Jimmy Kimmel used to have a show called the Man Show. This was years ago. He used to have a segment called Girls Jumping on Trampolines. When you're done looking up the Wicked website, look up Jimmy Kimmel Girls Jumping on Trampolines. This was, I mean, talk about a crude show. I thought it was hilarious, by the way. That makes me immature and misogynistic and all that. I get that. But anyway, times have changed and now when I look at Jimmy as the champion of sensitivity and women's rights and you know, anti misogyny, maybe his past should be uncovered a little more. You know, he used to do a skit where he was Karl Malone, the basketball player. He did that in blackface. So if you want to look up hypocrisy, you know, look up Jimmy Kimmel. Sam put on the screen. Kimmel goes whichever way the wind is blowing. That is very true and luckily the wind is blowing up to Canada or some other country. So see you later. We'll miss you, but see you later. Another thing with our, you know, the media, the social media, all this stuff, the big Mike Tyson, Jake Paul fight. So Anthony, I know you have Netflix. Did you watch it do. I'm sure you had complaints like everybody else that it was tiling and sketchy and apparently they didn't have enough servers over at Netflix. Although they put the build up for this thing, you know, epic. I did not see it. I don't care to see it. I have Netflix on my phone, but I don't have it on the TV here. I didn't watch it. I watched clips later. And the only. And this is before I even started reading other people's thoughts. I was like, this is definitely, definitely staged. Yeah. I mean, I'm watching recent clips of Mike Tyson training and he's still pretty incredibly scary. 58 or whatever years old he is, he's scary. And then I watched the clips of this fight. I'm like, this guy is holding back. For some reason, he is not pummeling Jake Paul. But the good news is apparently like $60 million was split. I guess Mike Tyson got 20 million and Jake Paul got 40 million is what I'm hearing. So, you know, good for them. They're smart. This whole thing was great for Netflix. I'm sure they got new subscribers, so good for them. It's just, you know, what, What a weird world. Oh, didn't Harris fall short? She ended her campaign by spending $1 billion and then she was 20 million the hole. Maybe she could fight Jake Paul or maybe Grayson pick up 20 million 0 things out.
I'm just thinking I actually, I would get Netflix on my TV if that happened. So I'm ready for that one last thing about TV and all this stuff, because I know that's not really in my wheelhouse. I watched a little bit of a football game last Sunday and I saw, to me, I'm sure most people didn't pick up on this. I saw, to me, what was the funniest thing I've seen in a long time. There is a new Gladiator movie coming out apparently. So Gladiator 2 is coming out. I don't know if it has Russell Crowe or new people. It looks like Denzel Washington's in it. But Gladiator 2. So there's a commercial apparently put out by Pepsi and it shows football players in the Coliseum. And I just, I keep thinking about end times in Rome and this country and the parallels. And I look at the Coliseum, which is our football stadium. The one here in Phoenix looks just like the old Rome Colosseum. And they're showing that we are in the stage of bread and circuses. So I don't know if you catch that commercial. Let me know what you think. But I think, you know, I mean, nothing goes away right away. There's always a slow decline or demise of a society. I think we're in it.
[00:07:27] Speaker B: So we'll bitcoin's at all time highs and so is the stock market. Everything's thriving. I don't know what you're talking about.
[00:07:35] Speaker C: I've been in this job for nearing in on three decades nearing in on 30 years. And I remember when things went up and down, there were cycles, there were reasons you could, you could look at your stocks and figure out if they were a good idea. You could research K1s, you could do all this stuff. You know when high frequency trading computers came out when, when everything started getting a little bit more fast and overnight and mechanical things changed. You know, some of it's been a rigged game to begin with. You know we've told you the Dow Jones Industrial average is only 30 companies. When one underperforms, they take it out. I E Amazon replaced Walgreens this year. You know, the S&P 500 floated by seven companies. Well, I'm not thinking that Mark Zuckerberg, Warren Buffett, I'm not thinking that these smarter than me investors are wrong. They're all getting out. Jamie Demon, all these people are getting out. This is absolutely insane. You know one of the things, if we get to it, I know everybody else is talking about it, so we don't really need to, but we really are on the doorstep of World War three at one misstep right now. And we could go into World War three, we could go into conventional ground warfare, we could go into nuclear situations. I mean.
[00:08:54] Speaker B: Yeah, but how good would World War 3 be for the stock market?
[00:08:58] Speaker C: Apparently wonderful. Because you know, I mean apparently last weekend and by the way, today is the 21st of November as we record.
So you know last weekend sleepy Joe who got lost in the Amazon rainforest and missed the class photo at the G20 summit. Did you see that on the news?
The G20 summit and Biden is not in the picture. We used to be one of the powerhouse nations on the planet. Now the President of the United States. Sorry Harris, he still is. The President of the United States has wandered off into rainforest and he is not in the picture of the powerful nations in the country. I don't know what to say about that. But anyway, so he authorized the use of our atacms. So apparently Ukraine is shooting missiles over into Russia, which I'm told is a no, no. So now yesterday or the day before, I'm reading that now. Joe is, he's authorizing. He's authorizing. He's saying go ahead. He's telling our government to send over anti personnel landmines. Okay, so let me figure this out. There's going to be a peaceful transfer of power on January 20th. That's what I've been told. The big lunch with Trump and Biden, what Last Wednesday Biden looked happy as a cat. He looked like everything's great, and then all of a sudden he's letting rockets fly and landmine ship. What the hell is going on? Are they going to try to leave World War Three active for the next president on January 20th? What is going on? And we'll get to a couple articles if we have time that give you some specifics on this. But this is the scariest thing, if you ask me, in my lifetime. Because, yes, Russia was going to attack us in the 70s. I remember I had to go in the hallway and put my knees up to my chest. And now that's back on the table. You know, we do, we do still have this stuff with Israel, Hamas, all that stuff's going on. I was watching some video clips just this morning of Hamas supporters marching through a Jewish neighborhood in New York. Scary. Like tons of them. And I'm like, man, this country trend day Arawa is still a thing. Even though we haven't mentioned it in a few weeks. That's still going on. So apparently now the big state for that is Tennessee. Tennessee has four different cities that are asking for help because they're having a bigger and bigger presence of this gang. You know, some of the Chicago gangs are actually having little clashes with TDA now. And it's insane. This, this world is on the verge of World War Three. And you know what, looking at the stock market this morning, up 300 points, I'm like, what? What on earth? So all of the smart people are getting out. All of everything in the world, geopolitically, politically is on fire and yet the market's going up. And don't tell me the market's forward looking because I got news for you, market, if you're looking forward, you know what you have to fix? I've always said, Anthony, Sam, you guys have to have to be in charge of this. You have to fix healthcare, borders, politics, geopolitics, Medicare, Medicaid, Social Security. There's a lot on the table that has to be fixed. That should be bad news for easy living in the Dow Jones Industrial Average. Apparently it's not. So what kind of manipulation is going on behind the scenes of this house and cards? And am I wrong? Can it really just keep going forever? I don't think so.
This is the biggest bubble in the history of the world. The biggest black swan event in the history of the world was Covid. And by the way, thank you very much for asking. You too. I'm feeling much better today. I think I'm at the end of my Marburg virus. Or EE or my monkeypox or whatever. I have got a little lingering cough, but I feel much better. So, I mean, what. What on earth is going on right now? Advanced Auto parts is closing 700 locations, including warehouses. But the financial markets are up. We're on the doorstep of World War 3. Markets are going up. Half the country hates Donald J. Trump and the market's going up. What? What? I mean, how do I explain that? Our whole job. We want you proactive, not reactive. We want you prepared, not scared. What? Who in the right mind would listen to me when everything seems so good out there? There's no war, there's no fighting, there's no nothing.
So are you. Well said. Should I move on?
Should I move on from the Teflon Dao? And by the way, when it does fall, because it's going to. I'm not going to back down. You know, sometimes things take a long time to come to fruition. I'm early, but I'm not wrong. This Dao is going to be epic. When it goes the nasdaq, I mean all these things, it's going to be epic. So. And I do think that by the.
[00:14:03] Speaker B: Way, money quadrupled since 2020. That means we have the cash to keep the market up. How can we buy?
[00:14:11] Speaker C: What do you do from it? Money to keep buying. Now, yes, you look at financial statements, is a big part of your living. And have you seen anybody's statement? You've been in the office six and a half years. Have you seen any statements that have quadrupled yet?
[00:14:25] Speaker B: Not a single one is looks anything like what the market is doing? Not a single statement. Most actually I looked at a statement since 2018, which was kind of in a 6040 split, you know, a standard typical model. I think the average return was 3% over the last six years.
[00:14:47] Speaker C: 3%.
[00:14:47] Speaker B: And that's with risk.
[00:14:49] Speaker C: So not 400%. 3% and 400% are two different numbers.
[00:14:53] Speaker B: If it's one thing, if you're overly safe like we are and that's what you're returning, that makes sense. But to have as much at risk as they did, to only see 3% returns was astounding to me. I saw somebody 401k statement that finally recovered from 2020.
I don't know, it's interesting. Like unless you're picking the absolute right stocks, your portfolio is not showing you what looking at AN S&P 500 ticker is, that's for sure.
[00:15:24] Speaker C: And you hit it exactly like what I want to keep telling people over and Over. You know, the old buy low, sell high is not dead if you have the stomach and the discipline to pull it off. Things are high right now. So start taking profits, start protecting when the market takes a big huge crash. I know all of your securities clients have cash on the side waiting for this opportunity. It just seems like it's taken a long time this time. You know, we haven't talked about the Plunge team in a long time. If you're not familiar with the term plunge team, look it up because I think you will be sometime soon.
This is the time of year we slow down a little bit, we get to catch up. So I'm in a good mood today.
[00:16:02] Speaker B: Nobody wants to talk about their money while everything's kind of money this time of year.
[00:16:07] Speaker C: Not that they ever do, but even less than usual. So back to financial advisors sucking. So and a couple things, by the way, if it's your money, it should be important to you. I've always said your money next to your health on this world is probably the most important thing you have to manage financial advisors. We even if you are the most honest advisor on the planet, if you work for Charles Schwab or Raymond James or Edward Jones, if you work for anybody, the pressure and quotas that they have in place are tough. I mean you can be super honest if you, if it's not appropriate to sell something for two weeks or two months and you don't, you're not going to be working there. You can have your blue suit, white shirt, red tie, highly polished shoes, you can be the most caring advisor on the planet. But I promise you, you better keep moving. What if you're out like me with the Marburg virus for a couple of weeks and you don't sell anything? You know, a lot of these people that work for firms, they have to see four or six, eight people a day, you know, so, and I'm not trying to brag on us, I just love our business model. Fully independent. We have to do the same CE the same anti money laundering training, the same product training. We all are held to the same standards on how we do our work, but we have no pressure in quotas. And I just, I look at the difference. You still have these people in Sun City selling variable annuities.
They're actually a huge year for variable annuities. And I'm just confused. I'm like, this is wrong. Anyway, so my whole thing with that, get ready, get ready to familiarize yourself with the Plunge Team. Get ready for your advisor when your account's down 20 or 30%. And they say don't panic.
[00:17:52] Speaker B: The plunge team just allows the market to keep going up. Plunge team is everything that we're talking about is wrong with the market.
[00:17:59] Speaker C: Correct. If the market goes down, the plunge team stops it. If the market goes up the same percentage, it doesn't. Well, that's kind of a rigged game. But you know, when we get the next correction, I think it'll be a doozy. And it's funny because get ready for the advisors. Don't panic. You're still age based, appropriately invested. Don't try to time the market. If you sell now, it's a real loss. If you don't sell, it's only a paper loss. Well, I got a question. You just had about a 14 year run up in the market. Isn't it only a paper gain? Shouldn't your advisor be calling you saying let's take 10% out this year and put it into hard assets. Let's pay down debt, let's buy silver or gold or guns and ammo or tools or medicine.
[00:18:43] Speaker B: You know, the market is only good if you get out at the right time. So you can definitely buy and hold and that can be your strategy. And historically you can make a ton of money. But you just have to pray that by the time you need the money or want the money to pull it to use for other things that it's up. Because it may not be unless you get out at some point.
[00:19:08] Speaker C: And you were not in the office yet. But 2000, October of 07 through March of 09, it was amazing. I mean, the financial recession they called it, by the way. We've been in a recession for years. Maybe sooner or later we'll have it called that. It was amazing. The psychology that went behind my job was just insane.
Well, let's jump right to it. I had that lined up for after the break. But let's get right to bitcoin now and these things. Okay, couple thoughts for you. I still think it's air. I brought up the example last weekend of a guy named David. They used to go to Mr. Lucky's where I was working and he and his family were buying Beanie Babies. They were going to McDonald's and buying Happy Meals. Not for their kids, for the Beanie Baby and throwing away the food. It was so funny because having conversations around that time with them and he basically said, this is my key to retirement. I'm not exaggerating. He didn't say, this is fun, this is exciting. He said, this is going to change My future, this was around little plush turtles and stuff. And I was like, even back then, I didn't understand. I'm sure that's the way it was in Holland or wherever the Tulip crisis was. I didn't understand. It's like gambling to me. If you gamble because you're a social creature and you like the bells and the whistles and your ADD and OCD and you've got an addictive personality and you do it in moderation and you don't lose your house, good on you. If you think it's going to help you retire, you're in the wrong place. You may get lucky and you may retire because of a Beanie Baby or because of a bit count or because of a slot machine. It's just not likely. And you know what's going on right now. I had two people last Sunday, on a Sunday Lord's day of rest. Two people reached out to me on one particular crypto called xr.
Xrp. Xrp. I don't even know the name. Xrt. Xrp. And I was like, oh, shoot. These two particular people, when they reached out to me, Sam put up something on the Beanie Baby craze. Apparently you can still research. Oh, this is on the History Channel. That's how far gone Beanie Babies are. Xrp. I had two people reach out to me asking me, where do I buy it, how do I buy it? Should I buy it? All this stuff, my bottom line, moderation and diversification, my heartburn. One of the two people. And I don't think either of these people listen to the show. And I hope if you are, for some reason you don't take offense to this. One of the people put money in the dinar, the dong, the denali, all this stuff. And I've been watching that for 25 years. And I've been telling people, if you really think it's going to revalue, if you think it's going to make you a millionaire, you know, have at it. Do your thing, but do it with a small part of your net worth. I'm saying the same thing with crypto. I personally have some cryptocurrency in an etf. I have grayscale bitcoin in my Schwab account. So. Ooh, I said, you just have, like.
[00:22:12] Speaker B: Paper, gold and silver, too. So you don't actually have built bitcoin?
[00:22:15] Speaker C: I do not. Because you know why I don't have bitcoin? Because I asked at Firebirds one time when you and I were with a couple clients Having dinner. I asked if I could pay our bill with the cryptocurrency and they said no. I've been to Walgreens, I've been to Walmart, Walgreens, you know, the one that used to be in the Dow. I've been to different stores. They don't take gold and silver. Well, they do for face amount. You want to give them a $1 gold coin worth roughly $2,700 today. You know what, they'll give you change for a dollar, so act accordingly. Bitcoin, it's not accepted. If we have a solar flare or an emp, it's gone. If you lose the password to your wallet, it's gone. You can't call the police, you can't call the finra, securities Exchange Commission Corporation department, there's no being called. If the people that manage your bitcoin, wrap your mind around this one, you went to Coinbase or you went to one of these platforms and you bought a bunch of crypto. If they go out of business overnight, guess what goes with it.
Every single wallet, wrap your mind around that. You know, the government, since Trump won the election, apparently we're going to be more friendly to cryptocurrencies. You know, Trump straight out said we are not going to have a central bank digital currency. I think the financial system in this country is way too big for Donald to handle. So I think that's going to be a tough road to hoe, but we'll see. So anyway, back to these two people that reached out to me, my thing, the two particular people that reached out made made the light bulb go off. The reason this flood into bitcoin, dogecoin, xrp, all these things, fomo, the fear of missing out. Where were you people years ago? We were talking about bitcoin, Anthony, over two years ago on the show we talked about non fungible tokens and cryptocurrencies.
[00:24:04] Speaker B: We remember NFTs were a huge thing and those have all lost 90% of their value.
[00:24:10] Speaker C: I had friends that were millionaires because of their NFTs. And now where are they? Other back to work as a used car salesperson or timeshare salesperson or financial advisor. So the FOMO right now is thick. So all these people are jumping in. It's at 100 grand for a bitcoin. A coin. You don't get a coin, you can't spend it, you can't use it. If you are smart enough to get in at 94 or whatever it's at today and then you get out when it's 107 or 135 is the newest number I'm here to go to. If you're smart enough to get out, guess what? You better make sure that you're ready to pay taxes on it. You're going to get it back in fiat currency, so at least you can make some realized gains. But you know what? Within the last year, it was down to what, 20,000? Where were you? Where were people when XRP was low, when dogecoin was, you know, 4 cents, you didn't want it. You we the buy low, sell high. I'll say it again. If you don't have the stomach and discipline to do it properly, be careful. And my answer to both of these people, Go ahead, do your thing. I can't sell it. I mean, I can give you the platforms. I can give you who to go to. I don't sell it. But do me a huge favor. Moderation. If you want to buy 10,000 worth, start with 5 and then hang in there. And then dollar cost average in. So I don't know, I get so pissed about it and oh, shoot, it's break time already. Why don't we do this? Let's take a break. We have a lot to get to. We appreciate you being here as always, so reach out to us. Teamnothermoneyshow.com give us your comments. Send us the website from the Wicked box. If you want to complain about Anthony, let us know or you can always call us. 623-523-0444. We appreciate you being here and we will be right back.
[00:26:00] Speaker A: This is another money show, except this one's different. This one's actually fun.
When it comes to retirement planning, focus more on income than building a big nest egg. I'm Matt McClure with the Retirement radio network, powered by Amerilife. It may sound counterintuitive, but that big nest egg number you probably have in your head means a lot less than the income you'll have each month in retirement.
[00:26:38] Speaker C: The math has all changed here, but the bottom line is time is your superpower. Save as much as you can.
[00:26:43] Speaker A: NBC News senior business correspondent Christine Romans recently said on the Today show that you should not just rely on Social Security in your retirement years.
[00:26:51] Speaker C: Social Security alone is not likely to support you in the manner to which you are accustomed. Right. You want to wait as long as possible to get that, maybe 70. If you wait till you're 70 to collect Social Security, you'll get the biggest.
[00:27:02] Speaker A: Check and she says, contribute to your retirement accounts early and often.
[00:27:06] Speaker C: So this is from Fidelity. They say at age 30 you should have one one time your salary in a retirement account when you're 30. So think about what your salary is at age 30 and that's how much you should have in your retirement account. By 50 it should be 6. This is where I start to freak out because I know a lot of people can't and don't do this. By age 67 it should be 10.
[00:27:23] Speaker A: Times a personal pension. Using a fixed indexed annuity is also a great option for many pre retirees and retirees to consider. It offers protection from market volatility and a guaranteed stream of income that will last the rest of your life no matter how long you live. Having a big nest egg may sound nice, but focusing more on income will set you up for success in your golden years. So do you know where your paychecks and play checks will come from each month when you leave the workforce? That's a key question to consider as you plan for what's ahead with the Retirement.Radio Network powered by AmeriLife. I'm Matt McClure. Remember, all of JR 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 C: Welcome back to Another Money Show. Thank you so much for being with us. We do appreciate it if we can help you. I mean, you know, you hear us every week. Our show is on current events and how they are likely to affect your future, your lives, your kids, your grandkids, your finances. But we also during the week we are financial advisors. We don't have any pressure in quotas. We're actually honest with people. If we can help you, we'll be honored. If we can't, we won't try. So if you need a second opinion, let us know. We do. We're fully, fully licensed. We have partnerships with estate planning attorneys. We have Medicare specialists. Anthony is our securities guru. If you need managed money assistance, I am more of the fixed guy at this point. If you need asset based long term care. If you need help with when to take Social Security, so so we can help you with all kinds of stuff. We don't really push the sales on the show because we're trying to make sure you know that that's not what the focus is. We're not a one hour long infomercial but you do need to know we're there in case you need a second opinion. So with that said, I forgot to mention in the first half when I was talking about the economy and what Sam and Anthony have to fix and what Trump has to Fix, the usdebtclock.org if you haven't popped in there in a while, it's a good time to do so. It popped over 36 trillion last week. I put that up on Facebook to make sure all of my real friends, half of which I have never met, they all know that it happened. So we're at 36 trillion and racing right along. You know what part of my thing for people, instead of trying to get rich quick via a Beanie Baby or an XRP token or a slot machine, start a side hustle. If you ever watch the YouTube guy, Johnny Bravo, he talks about current events also. But about three quarters of his daily episode are on how to make money. Of course you can buy his course and all that. You know, of course he's, he needs to make that money. But one of the things he says all the time, sell something on Amazon. You know, I would go further. If you've got a lot to say and you find it really interesting, write a book. I mean, do something to get a side hustle. Sell stuff on ebay or Amazon or something, but make money.
[00:30:25] Speaker B: Yeah. What's the. I mean, the whole key to really anything financial is income, having money coming in. So too many people want to get rich off of throwing money into a stock market which you don't control. And you really have no say in what the company is doing. You know, and we've our whole society is taking that on as that's how I put away money. But that's really not how you get rich.
[00:30:47] Speaker C: You are right. You are correct. Everything revolves around income. I like it when you say to people, if you have adequate income, you can still do dumb stuff and you don't have to worry because that income's flowing and you're not going to be eating cat food or out on the streets. So make sure you get your income house in order. We have solutions here. I go back to the infomercial. We have products that have lifetime income you cannot outlive, hence the name lifetime. In other words, if you're getting 2,000amonth from one of your income products and you are supposed to die at 86, but you live to 96. So you ran out of money at 86. You keep getting 2,000amonth until you're 96. Ask me more about it and I'll be glad to share it with you. Back to the news stuff. I didn't finish before the break. A couple of things real quick. One of the things, one article I got here from Bitcoin.com news. US state introduces bill to establish Bitcoin Reserves in Treasury Funds. So that's great. Pennsylvania State Representative Mike Cabel, we need more. Cabel announced Tuesday that he is introducing a bill to allow the state's treasury and pension funds to invest in Bitcoin as a hedge against inflation. Luckily, as I read further, he's only wanting up to 10%. I just find it scary because Mr. Cobbell, you know, don't forget if there's a solar flare or EMP or you lose the wallet. I don't care if you're an individual or a state. If it's my pension, I don't want that kind of uncertainty yet. When Bitcoin becomes our transactional currency, then I'll move to Pennsylvania and glad you did that for right now. It's too much risk for my conservative blood.
[00:32:27] Speaker B: Well, it's not a currency, so there's that. But they are giving, they're giving it more legitimacy by pushing these bills by BlackRock and Vanguard and all this. So they're giving it more legitimacy, which is why it's going up. I still don't get it.
[00:32:42] Speaker C: It's going up because of a lot of people are jumping in. Just now, they're hearing it's going up, so they're jumping in. When they hear, when they hear it, when they heard it was going down, they weren't buying it. When they hear it's going up, they're buying it. It's not a currency. I love what you just said. They're thinking it's like money. No, no, it's not. You know, it's money. You know, it's money. Gold, silver gun ammo, fiat currency. Have some cash at home. You know, diversification, moderation. That's all I can say. Finishing up one more thing. I really, I don't, I don't think we need to dig into the whole Russia, Ukraine thing that we're, we're now sucked into to literally World War Three. I do want to point out one thing in case some of the stuff we say you research, Zero Hedge on 19 November has an article titled Biden rushes 275 million more in Weapons to Ukraine before Trump enters Office. I like how they said this article and I'll tell you the reason why. I don't know. I'm very cynical. I'm very conspiratorial. I'm very half full. I think Biden has nothing to do with this. He's lost in the Amazon somewhere. Biden has nothing to do with this. The handlers, the people above Biden, they are trying to let Trump inherit a recession, maybe even a depression. They're trying to use up every penny in Washington before he gets there. So he has to find another way to get money. They're trying to usher in World War Three. I told you for months, I'm not worried about November 6, the day after the election, as much as I am November 6 through January 20. I think this is all very much intentional. It just seems to me like all of a sudden, Sleepy Joe, who couldn't do squat for four years, now it's saying Biden rushes 275 more. 275 million. We work in billions and trillions now, so who cares? And I don't know, is Congress approving all this or is this person run amok? And you know what? I lied. I want to say one more thing about the whole World War Three that we're on the doorstep of. What if it's not just so Trump can inherit all this problem? What if they're doing this and saying Biden's doing this so they can exercise article 25? Do you know what that is, Anthony? Do you know what Article 25 is? The 25th Amendment to our US Constitution. They can remove, if the president is incompetent or whatever, you know, disabled. They can remove Joey B. And place Harris as the president for the next two months. You know about that, right? They can remove this guy like next Wednesday. They can say, oh, he's going to get us into World War Three. We have matter.
[00:35:16] Speaker B: She's out in two months, too, though.
[00:35:17] Speaker C: Hear me out a little further, because I am more conspiratorial than you are or the average bear. So all of a sudden they get one of their biggest desires they've had for decades, the first woman president. They remove Joe, they put in Harris, and all of a sudden we have our first female president. What if. And this is a stretch, I know, Anthony, I know you know, but I mean, everything I talk about is weird. I mean, right now I'm reading about a bomb cyclone in Washington and Oregon and all the people out of power and all this bomb cyclone, hurricanes, fires, floods, I don't know, maybe there's manipulated weather. But what if they get the first female president of the United States in power over the next weeks and then we have a huge surge around January February, you know, that's cold and flu season, which doesn't exist anymore. Now we just have Covid season. But what if there's a huge avian flu outbreak? What if, you know, what if we really do have an MPOX or a Marburg or an EEE outbreak? They could suspend the transfer of power if it's an emergency. Look what they did under Covid. Look what happened the year 2020. They took away the fractional reserve, they took away the reserve requirement from the banks and now it's 2024 and they haven't put it back. This is an out of control government. This is a government that could do whatever they want. So I don't know, just throwing out there, they could put Harris in and then we could have a problem. That's bad enough like Russia physically attacks us or we have a disease run amok.
[00:36:43] Speaker B: Russia, Ukraine. Why are we worried about Russia affecting the US anymore? They've been the superpower. They're going to do this, they're going to do that. They can't take Ukraine on their border. Why are we worried?
[00:36:56] Speaker C: So let me put a couple of dots together for you. What if North Korea joins in with Russia?
[00:37:00] Speaker B: They are. And who cares about North Korea? Russia was a superpower. North Korea is absolutely nothing.
[00:37:06] Speaker C: Are they both nuclear armed countries? Possibly. Let me, well there, let me add one for you. What if Iran, who is not a fan of us, Death to us. Death to Israel. Remember those guys dropped off a pallet of cash overnight. Obama, good job. What if several nations, oddly enough, they want to destroy us financially. We understand the BRICS nations are the next world reserve currency. We get that. Everybody gets that. It's when, I mean, who knows, Are they going to dump our debt at night? Oh, we had another bond auction yesterday with the second longest tale in history. So that's not going well. By the way. Jerome Powell, look at me. Jump around from geopolitics to politics and I'll jump right back in a minute. Jerome Powell was asked would he step down if Trump asked him to. He said no. You heard that right.
[00:37:46] Speaker B: I did.
[00:37:47] Speaker C: No, I'm not going anywhere. So, Jerome Powell, you lowered interest rates twice in the last, what, six weeks? And yet interest rates have risen what, a percent and a half? You are feckless worthless week, Janet. Oh, I'm going to miss Janet because she's my favorite cartoon. But Janet, Joe, Jared, Jerome, you people get the hell out of here. So the Federal Reserve is more powerful than the President of the United States. That's what that, that's what I read on that, you know, and by the way, the Federal Reserve, you're not federal, you're private banks. You are. Yes.
[00:38:17] Speaker B: Well then why would he step down if Trump asked him to?
[00:38:20] Speaker C: Well, he wouldn't. He said that.
[00:38:21] Speaker B: I know, but he's not an appointed by the president, is he?
[00:38:25] Speaker C: He is not.
[00:38:25] Speaker B: What's it matter?
[00:38:26] Speaker C: I'm just saying who's more powerful, the Federal Reserve or Trump or the Federal Reserve? And you know what? Federal is a misnomer and so is the word reserves because they have no money. So I don't know, just I'm a little scattered back to my conspiracy theory. What if Iran, who is also a nuclear enriched, capable nation, what if this got out of hand? What if China, who China. What if China, who's in their own recession slash depression, what if all these nations thought it was a good time to be done with us? What if that happened within the next two months? Is it likely? Nope, nope, nope. But I'll tell you what, over the next weeks and months and years, I think we're going the wrong way. So I think something's going to give. I'm just not convinced that we're going to make it until January 20th without something giving. And then from there, we'll go from there and we'll see what's happening.
[00:39:14] Speaker B: So I know you date after January 20th, January 21st, and then after that, 23rd. Okay, perfect.
[00:39:21] Speaker C: 24Th. I skipped the 22nd because I only like uneven numbers or something. So I don't know. And you know what, I tell you what, I mean, Trump's got a lot of work to do. He's going to hit the ground running. I mean, these appointments are crazy. I heard Matt Gaetz is stepping down now. He's withdrawing his request to be our attorney general. Apparently some skeletons in the old closet, I guess some. He made some payments to some young women and that's coming back to haunt him. I like how just now that he's going to clean up house in this country, now they're digging into it. Oh, so he gave money to these young women, but you had him as a correspondent on the news and nobody seemed to care to go after him. But now that he's going to be in a position of power, now you're going to go after him. The government's.
[00:40:01] Speaker B: I mean, he was in a position of power and they didn't care then.
[00:40:04] Speaker C: Correct. But now he's going to be in a position of power that can hurt the dirty swamp. And so now all of a sudden It's a bigger deal. You know, I mean, somebody accused Trump of sexual misconduct like 20 years ago, but all of a sudden it didn't become important until 20 years forward. What the hell? I mean, it's, it's just, this is. You can't make this stuff up anyway. We're sorry, Matt Gates, that you're not going to be the running, because I think he would have been pretty good and pretty tough. But there'll be another one. The cabinet positions are going well. So Trump, you know, I mean, I'm reading that Walmart and Lowe's are warning Trump about higher priced goods. You know, Walmart. Shut the hell up. You spent decades, you spent 40 years, whatever it is, you sold this cheap Chinese crap. You know, they used to say 96% of your goods were made in China. You made good profit, you screwed your employees. We remember the health benefit issues and the low pay issues. So you were fat and happy for decades. And now if Trump imposes tariffs, you're saying that it's not going to be good for the economy and the consumers and you're going to have to raise prices. You know, you're slimy. All these people are slimy. Lows. You're saying the same thing. Well, why don't you take less profits? Why don't you help the consumer? I think tariffs might be a good thing, because what we learned during COVID We don't even make our own medicine here. People can die because China says, screw you, we're not selling anything. So we need to bring back manufacturing. We need to get our fiscal house in order. We need to do so much. And if Robert Kennedy Jr. Can get rid of red food dye number 40 and make us healthier, bring them on right now. I mean, food is an issue. Processed food, by the way, even healthy food. If I eat a carrot right now, I might die. If I eat onion slivers on a McDonald's Big Mac, I might die. So, carrots. I told my mom when I was little I didn't want to eat carrots, and she always made me eat carrots. Look at you now, mom, if I eat a carrot, I might die. So that's a problem.
So anyway, World War Three. Yeah, I guess I've said enough. But just so you know, we're still doing a lot of spending over to Ukraine, trying to empty out the coffers before things change.
[00:42:11] Speaker B: We got the Doge Commission now, so they're gonna fix all that.
[00:42:15] Speaker C: Doge. Do you think the Doge, the Department of Whatever it is. Do you think it's related to the Doge coin. Do you think they're going to use that little Shiba Inu or whatever that dog is as part of their advertising? Because that dog's cute. So that's why I want to buy a bunch of dogecoin. So little, little funny article for you. Real quick. Zero hedge. One of my favorite sources on the 17th of November cruise ship offers Democrats Multi Year Escape from Reality Package after Trump victory so a Florida based cruise line Villa V Residences unveiled a new four year cruise package called Skip Forward. Offered to anyone suffering from Trump derangement syndrome. The Skip Forward package is a part of the Tour La Vie program starting at $40,000 per year and is a continuous global adventure for up to four years, the company stated in a press release. In other words, the multi year excursion spans Trump's upcoming second term. So it says here there's a, there's options, there's a one year escape from reality, a two year midterm selection, a three year everywhere but home, and a four year skip forward.
Patterson said the excursion to 425 ports across 140 countries allows voters to escape chaotic American politics. You know what I would say?
Sail away kids. If you feel like making America great again is not a good plan. Cruise away. Apparently it's only $40,000 per year, so it's not meant for the average American, but for the average American with some money and tds. Sail away. Good riddance.
Let's see here. Try to get to some of my articles that are more important than others. Bernie, feel the burn. Let's talk about Bernie for a moment.
Good, because I want to get you happy. And joining me, Bernie with his mittens on his little chair. Senator Sanders says he is looking forward to Trump fulfilling his promise on credit card interest rates. You know what? Can I tell you something, Anthony? Usually we like to see things from a different angle. We like to butt heads a little bit. We like people to pick sides. Team JR or Team Anthony. This is the first time in my life I'm going to put praise Bernie Sanders, probably the last. Bernie who? I don't know. I've heard he owns three homes, never had a real job other than a government job. He drives a pretty expensive sports car anyway. Senator Bernie Sanders from Vermont, I bet he has fine syrups there. Said he is looking forward to working with the Trump administration and hopes that President Elect Donald Trump sticks to his promise surrounding the cap on interest rates.
Says here I look forward to working with Trump on fulfilling his promise to Cap credit card interest rates at 10%, Sanders wrote in a post on X on Friday. We cannot continue to allow big banks to make record profits by ripping off Americans by charging them 25 to 30% interest rates. This is usury, he wrote. Several ex users praised Sanders and thanked him for backing Trump's efforts. I would just read one.
This is a moment in the history of our country that nobody should never forget. Is it? Never forget? Is that a typo? Wow. Trump and Bernie working together for the people of America.
Maybe unifying this country is not impossible. Thank you, Bernie. Another user commented, you know what? I'm watching people struggle.
I like capitalism. I like a free society. I think these banks are so damn greedy, though. I think these credit card companies, first of all, don't you charge the merchant a fee? Don't you charge like 3 or some percent every time somebody swipes the damn card? And now you're charging these poor people that are hurting the most. I've said forever. The rich get richer, the poor hover, and the middle class is shrinking. This Bernie Sanders is the first thing you've said that I'm like, get them. So Trump, billionaire Bernie, multimillionaire.
[00:46:43] Speaker B: Think of all the Democrats that are on Trump's side for this election. And now we've got Bernie saying, all right, he's elected, it happened. I'm going to work with him to actually push some stuff that I agree with. And nobody else on that side is doing the same. I, they all hated Bernie. That's why he didn't get the nominee. And now he's the only one that's willing to actually work to try to make, you know, essentially bring this country back together as opposed to pushing it out to the side.
[00:47:15] Speaker C: And as much as I want to slam Bernie Sanders, as Sam would say, I feel the burn. I mean, this, I'm going to get a bumper. Well, I'm not going to go that far. I, I, you know, and I just.
[00:47:26] Speaker B: I love it because I know even Nancy Pelosi has come out and said that, you know, she doesn't agree with anything that Bernie said because Bernie's essentially said they lost that election because they don't actually care about any of the things they pretend to care about, which is what a lot of people are finally seeing.
And now that they, and now they again, now that Trump has won, they're not trying to make things better. It's how can we stick to our side and dig our heels in deeper? And we hate him or Bernie. You know, Bernie was an outcast. Within that party and is now willing to work with Trump. I like that.
[00:48:02] Speaker C: Me too. And I guess we don't have to say much more, but I am actually on this, this one. I'm a Bernie fan, so good on you. The government in general, I mean, switching gears real quick, apparently. Anthony, I believe you said this article to me. This is from 111524 from the Hill. Pentagon fails seventh audit in a row but says progress made.
I love this. The Pentagon on Friday failed its seventh audit in a row, with the nation's largest government agency still unable to fully account for its more than $824 billion budget. Though officials stress they are making good progress towards a clean audit in 2028. So, and I love this because my goal, I'm going to be taller in 2034. We have to have goals. So the Pentagon has never. Let me read this line to you twice, you know, for effect. The Pentagon has never passed an audit since the agency became legally obligated to carry them out in 2018. So you've never passed an audit and you didn't pass this one. It's your seventh one. And you look at the 36 trillion in debt and you think in four years, well, it's 2025 in like a month. So you're going to start passing them, though.
[00:49:26] Speaker B: The Pentagon 100 billion2 is also more than China, Russia, India, Saudi Arabia, UK, Germany, Ukraine, France and Japan's defense budgets combined.
[00:49:39] Speaker C: That is awesome. We're number one. We are.
[00:49:42] Speaker B: We are World War I in wasteful spending. Plus, I mean, half of Ukraine's defense budget is our budget anyways.
[00:49:50] Speaker C: Half. Half my butt.
[00:49:52] Speaker B: Jordy.
[00:49:52] Speaker C: We cover their Social Security, their military. We cover everything.
So I, I guess there's not a lot to say here. I'll read two more lines. The Pentagon said it's firmly committed to achieving a clean audit by 2028, as mandated by the 2024 National Defense Authorization Act. So this year. 2024. This year we have said you have to pass it by 2028. That's cool. So when we get to 2028, we'll have to amend that. But that's cool that you did that. One last thing, he added that a 2028 CLE.
But the Department would have to make some enormous progress to get every agency over the line. All right, I think that's good. I think that's good. So. Oh, I do want to read one more line. Towards the very end this year, the audit cost the Defense Department $178 million and involved some 1700 auditors. I got the first step for you to get a clean bill of financial health. Let's bring the 178 million down to nothing. Let's get volunteers. Let's get retired people that used to work for the. Let's. Let's get a person that used to work for the. We got a friend named Kevin. We got a friend named Kevin. He's a very smart guy. He's retired. He might volunteer his time. Kevin, if you're listening, we love you. So 1700 auditors. What the hell? How many auditors do you need to handle the books? All right, let's move on to something even more important. Why don't we talk about this for a second? So speaking of government fraud, abuse, waste, overspending, ridiculousness. This is from msn.com on the 16th of November. That was my mom's birthday, by the way. Biden and Harris raided Medicare to fund Green New Deal premiums are now set to spike. When Democrats rammed through the Inflation Reduction act during the days they controlled all of Washington D.C. it ignited a chain reaction that led to higher Medicare costs for American senior citizens. Nearly two years after its passage, the IRA has diverted nearly 260 billion from the projected Medicare savings to pay for the special interest handouts like large tax credits for costly electric vehicles, enormous subsidies paid to big health insurer PBM corporations, and funding health care programs for illegal immigrants. Chief Executive Officer Ron Fitzwater, officer of the Missouri Pharmacy association, wrote in an op ed, the Biden Harris administration is not protecting Medicare, they're stealing from it. He wrote, I 60, Anthony. I'll be 65 in five years. Less than five years. You know what? Harrison Biden put it back. Stop this ridiculousness. One last thing. I know we're running out of time. You know, you, you referred to the IRS, so I'll @ least give the title out here. This is from msn.com on the 18th of November if you want to look it up. Over 800 IRS employees. Employees owe millions in back taxes after audits pushed by Earnest Earnest.
So the people that can make your life a nightmare, put you in jail, fine you, that sort of thing. Just so you know, there's, let's see here. There is in a letter to Iowa Senator sent on November 8th and shared exclusively with a million.
[00:53:29] Speaker B: And it's like 800 people. 800 people that work for the IRS are.
[00:53:34] Speaker C: Yep, yep. Only 20 of the 70 employees who willfully evaded paying taxes were removed. I don't know. I, I guess, you know, look it up. If you're curious. But yeah, I will tell you, the government is run amok. I don't even know what amok is and I want to learn how to run one, but not like the government. We need to wrap it up, Anthony. I guess Sam put up that there's only two minutes. We are we gonna you're gonna hear us this weekend and then you want to hear us again before Thanksgiving. So we hope you're safe and we hope you have fun. We hope nobody nukes us. We hope everything's good and we do still have a lot to be thankful for, so.
[00:54:11] Speaker B: Oh, do we now? We do that. We've got 30 seconds left. Now we can be thankful.
[00:54:15] Speaker C: It's the new, softer, kinder Thanksgiving version of Junior and I love you all.
[00:54:19] Speaker B: That's it for today's show. If you like what you heard, have questions on any of the topics today. Want to sit down with us to review your personal financial situation, which I'm assuming you don't want to do in the holiday time, but we will still be here for you. Just in case. Reach out to us at
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