Episode Transcript
[00:00:00] Speaker A: Any examples used are for illustrative purposes
[00:00:02] Speaker B: 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 C: 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 J.R. rochford.
[00:00:42] Speaker D: Here we are, your hosts, Anthony Correjo and JR Rochford, taking a break from our day to day as financial advisors with Rochford and Associates, a fully independent, veteran owned 4th generation family office right here in the greater Phoenix area. To bring information you may not find on those other financial radio shows like that the Philippines only have 45 days of fuel left. What other radio show tells you that that's about finances? None of it, I can almost guarantee. Anyways, the last thing you need is another money show. But you are here and we are here. So, you know, let's just enjoy our time together. How about that, Jerry? What do you got?
[00:01:22] Speaker A: That's beautiful. No, that's beautiful. When you, when you are in on current events, I am a happy boy. And if you're one of our listeners in the Philippines, which we really do have. So Sam, the one and only Sam Davis, he's gotten us demographics on who listens to the podcast and we have listeners in Japan. I think that's because of Nick. I think Nick has told people about us and hopefully Nick listens every week. But yeah, we, we, I don't know, we had two or three in the Philippines. So if you are listening, why, why do you rain on my parade? Does blowing out my candle make your shine brighter? Logical one.
[00:01:57] Speaker D: Tired of you spreading lies.
[00:02:00] Speaker A: This show is all about lies. None of this stuff that you've heard over the four years has been actually true. It's stuff that I make up. So yeah, Philippines, I'm kind of excited because all of the different nations we have listeners in, none of that's vpn. That's all natural listeners. They have AM radios and podcast platforms to listen to. Let's do this. We got a lot to get through. I know I say it every single week, but every single week I have a lot to get to.
So let's jump in.
It's like Anthony I brought up yesterday in front of Our friend Lori found out that Lori hasn't listened in a while, but she said she'll start again. So shout out to Lori.
I have said to you, every election since you've been a voting age is the most important election of your lifetime. So the upcoming midterm elections are going to be the most important elections of your life. So make sure you're registered to vote.
Let's jump in with the shout outs. I have a whole ton of them today. I guess we really don't need to get to any articles because I have enough shout outs. We had a conversation with a listener early in the week. A guy named JD. And JD, if you're listening, it was cool because JD said that he sets his alarm for 4:58 in the morning.
So JD is that really how you want to start your day? You really want to hear this voice at five in the morning? And you know, I, I need to stop making fun of you early riser listeners because there's a lot of you. You know, it started with a few people.
[00:03:29] Speaker D: Way more than I ever would have guessed.
[00:03:31] Speaker A: Oh, me too. You know, we, we, first of all, we thought AM radio, it's, we're going to get a niche audience, but we thought podcast was where we're going to reach most people. There's a whole bunch of you listening to us on the radio, so thank you so much. I know some of my people that I play cards with. Don. Don listens every week still, so I appreciate it. Anyway, jd, I'm looking forward to meeting you. You know, you, you live not too far from where we meet with our men's, our men's networking group. On the second Tuesday of every month, we go to a men's networking happy hour.
So come join us. We want to meet you in person.
And then we're going to do the high pressure twist your arm, try to get you into the office so we can sit down with you and be a second opinion on your finances.
So jd, thanks for listening.
We have a long time listener.
She's a doctor. I won't say her name, but she's a doctor. She was in the office this week. Great to see her too. So that was good. She's trusted us to help her with her finances. We had a new listener come in.
I think he said it was okay to give him a shout out. A guy named Ron. And apparently he's a loyal listener. Bit of a procrastinator. He said that he wanted to meet us a while back. I think he said like a year and a Half or something ago. So he finally got in. And you know what? I size this up. We've been here for four years. If you want to make sure we're here for the long haul, do that. But we do want to meet every one of you that listens. And Ron, thank you so much for taking time with us. If we can ever assist you with your finances, we are going to be honored. And for those of you that are used to financial advisors, if it's not in your best interest, we will not try to assist you with your finances. We do not have the pressure and quotas of love the people that have to help you whether they should or not. So thank you for coming in. Mike and Ellen, longtime family, friends and clients and listeners. They were in, so I gave them another card, reminded them we're still on every week because I guess it's hit and miss when they listen. So. And you know, they keep me grounded. Anthony, as you know, we're family friends, so we do Thanksgiving together. And it's. It's been a long standing relationship. Whenever I get too crazy, I reach out to Mike and he reminds me, you know, how to stay calm. You know, last week I talked about Ray and how you should prepare and then have a nice day. Mike is very much my sounding board, voice of reason when I get too amped up.
Meaning, like, if I didn't have Mike, I'm fairly certain I'd be out in the backyard digging a spider hole. I'd be doing like chaotic prepping stuff. And he keeps me kind of grounded. So with that said, it's time to jump in. I do want to start a little bit financially. I want to tell you something because one of our loyal listeners that gets a shout out pretty much every week, Kevin. We had a lengthy conversation this week about umbrella policies.
If you've never heard of a personal liability umbrella policy, I want to talk real quick about his experience in our conversations. So we are in financial advising. We help you, we look at your stuff, we give you a second opinion. If we can help you, we do our thing. We are very well rounded. We want to make sure there's no holes in your plan. We have always said our modus operandi is planning over products and education over sales. If we put together the perfect financial plan for you and there's a glaring hole in it, we didn't do our job. And, you know, if you get sued, if somebody sues you, where do you think the money's going to come from? It's going to come from our Plan, you're going to have to take money out of cash, checking, savings, 401ks, mutual funds, stocks, bonds, whatever you happen to hold. So Kevin has an umbrella policy. We make sure every single person we sit with knows what they are. We let them know the pros and cons. Then we ask them to call their agent and sit in, kind of get it. You know, say, what is it? You know, do I have one? Some people don't even know if they have one, do I have one, what is it, do I need it and how much is it? So a few simple questions. If they kind of match up with us that it's important and you need it, then we recommend you get it. So our thing, and yes, I mean if, if you're with an insurance agent, they are in sales every time you renew, every six months or every year, they get a commission. So yeah, they have a little bit of a motivation. But the big picture is if it's good for you, you should get it. So Kevin's rates three years ago were in the $200 range. Then it went up, and I'm kind of paraphrasing our conversation of earlier this week, it went up to 450. Well, now he just got his renewal. I think it's coming up in May and it's 600 and something.
So he reached out to his agent and I said, all you're going to get is a song and dance.
This is a very detail oriented man. This is a guy who wants explanation. He does. He doesn't want somebody just to say it is what it is. So basically I said, you're going to get a song and dance. You are not going to get a detail, any information and you are going to have to renew it because it is good for you. But don't expect them to help you with explanation. Sure as you know what. That's what happened. So what came out of it was I'm like a, you need it. It protects other things. And by the way, when you come sit with us, we will explain it to you briefly and tell you why every single person that has any finances at all needs to look into an umbrella policy. So I recommended Kevin, who got kind of disgruntled with the representative and said, get a broker. We always tell people the days are gone that you should just sit with State Farm or Farmers or Allstate or Progressive or GEICO or whatever they are. You should probably go through an insurance broker. They don't charge you. The companies pay them to find people. They shop your insurance every year. So instead of your insurance going from 200 to 450 to 600 every year, they're going to, they're going to try to keep the cost down, you know, and the old school, Kevin's my age or older. The old school is you're with a company since you're 16, you're loyal, you never switch. The problem with that is things around you have changed. These companies don't give a rats, you know, what about you? It's all about the bottom line. It's about cost. So you have a hail damage claim, a roof claim, you have a water leak, whatever you get to your third claim. I don't care if you've been with them for 40 years, you are gone. So do that to them. Be proactive, not reactive.
You, you know, that's our other thing. Be proactive. Fire your agent. We will give you the name.
[00:09:53] Speaker D: I'll give a shout out to Heather Olson.
[00:09:57] Speaker A: I just was about to help me for years.
Heather Olsen is wonderful. If she can help you, she will. I have a 21 year old driver in my household. So she said at this point I am best off staying with the company I'm currently with. There's been a couple times in the last few years Heather shop for me and that's how honest she is. She said I can't do better. So unless you have a 21 year old at home, Kevin, which I don't think you do, I will. When you're, you know, when you're resting, I know you said you got a lot going on but when you're resting, we're going to hook you up with Heather and see if we can help you. Oh, that was a long explanation. Moving on to another thing of finances. I, this, this whole private credit. When Anthony, about a month ago you said you don't think it'll be a big deal but we'll see. And I was like, I think it will, but we'll see. It's not over. It keeps getting worse. They added Morgan Stanley. Morgan Stanley is now putting up gates so they're, they're stopping withdrawals. I read one yesterday that really, really was amazing. Aries company name Aries huge company had their single biggest downturn in the history of the company. So they keep piling on. You know, we started last year with first brands and Apollo and was a tri color. We added Blackrock, Blackstone, Blue Owl. So now add Aries and look at that. And you'd be like holy cow, it's all over the place. They're stopping you from getting your money.
It's one thing if they charge you a quarter of a point or if they charge you a fee, but they're stopping you from taking your money. We rail on the banks all the time. We have for 20 years.
We're ripe for bail in. That just means you can't have your money. Yes, it's your money. Okay, can I have it? No, you can't. That's a bail in. These companies with stocks and bonds and financial holdings are doing a bail in. Wake up. And it usually affects more affluent clients than not.
So if you don't have money in private credit. You know what's weird though? We brought this up last week or the week before. You may have access to private credit and you don't even know it. You know, the big push the last year, year and a half was for our 401ks to start allowing REITs and private credit and crypto. Crypto, by the way, I don't think
[00:12:11] Speaker D: that ever went through, so.
[00:12:13] Speaker A: Oh, I thought it did.
Quietly. Oh, I don't know. I don't know. But.
And anyway, the bottom line is the environment around us is sketchy and uncertain and unchartered. And we want first come, first serve to be our clients and our family and friends. So listen to us and we'll keep telling you what to watch for the.
Let's see here. Here's something from the Telegraph. I'll just read a little bit of this. Wall street crisis spreads as Apollo blocks withdrawals. When we talked about Apollo the last couple of weeks, apparently it's getting way worse. Wall Street's private credit crisis has deepened after two of the world's largest shadow banks blocked cash withdrawals from their flagship funds. Apollo Global Management has capped redemptions after investors tried to pull out 1.6 billion in just three months, the latest sign of stress sweeping over the 3 trillion dollar sector. The US private credit giant said the withdrawal requests totaled 11.2% of the fund's 15 billion in net assets, more than double the 5% quarterly cap on redemptions that the fund allows. Apollo is a major player in the shadow banking sector, responsible for about 700 billion of private loans made to companies separately. Oh, they tied this in separately. Aries, one of Apollo's competitors, also limited redemptions to 10.7 billion.
Credit fund. Andrew Bailey, the Bank of England governor, recently warned of parallels between the private credit boom and the subprime debt boom that brought on the global financial crisis. That's my fear, you know, the big short. This is the next Big short.
The signs of stress pose danger to the financial system because of the scale of the $3 trillion industry, which extends across a wide range of sectors from technology to energy. Last year it was auto prime, you know, subprime, and it was auto companies. And this year it's software, and now it's shadow banks. You know, and when you hear the, when you hear these numbers, I mean, they probably, we can't relate to these, but they're saying it's a $3 trillion industry.
How much is in the 401k markets total?
I think it's like 20 trillion.
So you're telling me this little tiny sliver of our financial world is, is as big as, like. Yeah, a good chunk of our total in 401ks, mutual funds, IRAs, all that. So it's kind of scary. I already mentioned Morgan Stanley, BlackRock. See here, shares in shadow banks have plummeted this year with Apollo, Blue Owl Capital and KKR down more than 24%, 40% and 29%, respectively.
All right, I'm going to put that away. That's what we. When we said the word cockroaches a while back when we stole Jamie Demon's word cockroaches. That's what this is. He was correct. Where you see one cockroach, there are more. So hang on, this might get worse. I don't know.
Let's get to some current events. Sam said we only have 13 minutes. That's lucky left in segment one. So I will go fast and furious. Actually, I'm going to sneak something in real quick that I haven't talked about in a while. Anthony, can you cover your ears for a second? Can you turn away? Can you look away? Can you hide behind that door?
[00:15:41] Speaker D: I'm already not paying attention. It's fine.
[00:15:43] Speaker A: Perfect. So. Oh, we have gotten a little feedback.
We had a couple of people in the office just this week when, when I asked, do you want more Anthony, less Anthony? Whatever. They're like, I don't know, we don't hear them. Like, there's no Anthony at this point.
[00:15:56] Speaker D: Because remember when you asked me questions and then you Talked for another 15 minutes so I couldn't actually answer. You don't want me to participate in this show?
[00:16:04] Speaker A: I don't. I don't actually. What I want is two to six hours a day without you. I love you. I mean, don't get me wrong, whenever we hug, it's magic.
[00:16:12] Speaker D: I don't mean I thought you were going to get to a point or something. Stop talking to me.
[00:16:17] Speaker A: Okay.
[00:16:17] Speaker D: The audience wants to hear whatever you have to say next.
[00:16:20] Speaker A: I want to know. I'm sure they do. They're hanging on every word I say. I want you to know why. I think I'm charged up about every single thing under the sun. And most people are not, including Anthony. So there's a psychological term.
[00:16:34] Speaker D: Oh, God, never mind. I'll leave for this one really quick.
[00:16:40] Speaker A: I have to bring this up at least once every month or two.
You need. If you're a listener to us and you haven't heard this and you haven't looked it up, you need to. There's only a few things we've told you you need to look up. One is bail in. We. If you're really deep, like Kevin and some of our. Our sophisticated, like, super smart, engineery type people look up derivatives. We have other stuff for you to look up. But if you're a normal person, if you're like me and you're of a reasonable intelligence, but not beyond bail in, that's one of the most important things you need to know about, because you have to know about it before the signs are there for tab. And this one, I think, is why I'm all alone on my little island of sounding alarms. Normalcy bias. And all I'm going to read you is the Wikipedia version of what it is. Normalcy bias is a cognitive bias which leads people to disbelieve or minimize threat warnings.
Consequently, individuals underestimate the likelihood of a disaster when it might affect them and its potential adverse effects. The normalcy bias causes many people to not adequately prepare. That's most of you listening. Get your butt in our office. To not adequately. I'm gonna be yelling at listeners now. To not adequately prepare for natural disasters, market crashes and calamities caused by human error. There's a ton of fires around the country right now. Hawaii, how you doing with the water and the streets? There's all kinds of calamities, but that's not what we focus on. We focus on the second of those. We focus on market crashes and calamities caused by human error. Believe me, the markets are manipulated. Believe me, something is going to poke through. And when one domino goes, we'll pick it up. When two dominoes fall, we'll pick them up. When. When 10 fall, we're gonna have to just sweep them out of the way. So normalcy bias, that's one of my very favorite things to bring up because it's, I think, to a T what's going on. People have different levels of it and It's. I'm not like, slamming people. I'm saying you're normal, you're healthy. Sandy's a lot healthier watching this masked singer crap than watching what I watch.
I'm the one that's gonna have a heart attack. Possibly even during this episode, I did something I didn't mean to do. I was supposed to be on Joe and Jason's show this morning, so I started my coffee early. I'm on coffee cup number four right now, and I don't weigh much. I'm only like £186. So four cups of coffee.
I am, yeah. Probably going to die during this episode, but it's okay. What'd you say? Anthony died doing something I love, so.
[00:19:23] Speaker D: Yeah, Tommy Cooper.
[00:19:25] Speaker A: Yeah. I don't know who Tommy Cooper is. Is that like D.B. cooper's son, father, brother?
[00:19:30] Speaker D: Tommy Cooper was big in England. He was a performer. He was a comic. And he used to fake his death on stage for laughs. And then he did it one day and he really died, but everybody on the show just thought it was a bit. So no one really knew that it had just happened. It's interesting story, I guess, and I've
[00:19:52] Speaker A: never heard that before. I love when I learn something new and that's new. So I will have to look up Tommy Cooper.
Yeah. No. And I talk about it, but I'm not going to fake it. I'm just going to do it, Anthony. I'm just going to do it.
You know what? When I was at the shout outs, there's one more I should have made. We have a young lady named Carrie who was in the office again yesterday.
She is. We met her through the radio. She's been. We've met her a few times in person. Wonderful woman.
And she said something yesterday that was really, really funny to me. She was talking about cryptocurrencies and she. She said that there's somebody she heard on YouTube or something that. That said it's dead money. The word crypt is in it. It's cryptocurrency. And I just. I found that hilarious. I know. I cracked Sam up a couple weeks ago when I called myself crypto. Crypto for Columbus. So, anyway, shout out to you, Kerry. I like that. Cryptocurrency is dead money.
You know, it is. It's kind of cool because cryptocurrency has been a big. A big line item in our worlds for years, and I've never heard that before.
Part of. You know, when I talk about an umbrella policy, something I want you to keep in Mind. And yes, I'll get to the Festivus report and some articles, but something I want you to keep in mind. We are really a full service office, you know, I mean, depending on what's going on. If you want to buy a new or used car, call us. We got a guy. If you want to know what an umbrella policy is, call us. We'll explain it to you before you call your agent. So you know what questions to ask. If you want to know how much food and water to store. If you want us to introduce you to a precious metals dealer and kind of, we'll give you an idea financially on what you should or should not be looking at. With silver and gold, for example, call us. You know, what's a water bob? A lot of people have never heard of a water bob or a water bladder. Let us introduce you. I mean, the world's sketchy. Let us do full service financial planning for you, even including getting you prepared in case you have to stay in your house for a few days or a few weeks. You know what to do when your bank closes. Call us, but call us before it happens. Research, bailing and normalcy bias. So you know what? I don't know how much time we have left.
Sam, last week, after we got done recording, you and I talked for a minute and you said something that resonated with me, and I wanted to bring it up if you don't mind, you know, jumping on with us for a minute. You said it's never been easier to be poor. Do you remember saying that last week?
[00:22:15] Speaker E: Yeah, I remember saying that after the show. Can you guys hear me?
[00:22:19] Speaker A: Yes, we can hear you.
You have the voice of an angel. And. And wow. Yeah. No, I mean, and today you're not wearing a baseball cap. You have beautiful hair, like a human form, Chia pet. A lot of it. A lot of hair. So, yeah, very complimentary.
Yes.
[00:22:36] Speaker E: But yeah, when I said that, I. I feel like in.
[00:22:39] Speaker A: In.
[00:22:40] Speaker E: I'd love to hear what you guys think.
[00:22:42] Speaker A: You know, just.
[00:22:43] Speaker E: I read a lot about history, not just in this country, but, you know, all the way back to, you know, the Roman Empire, even further back. You know, we've gone through some bad times. The pandemics we endured, you know. You know, hundreds of years ago, much worse than. Than what we endured during. During 2020 in COVID 19.
And just with a pretty modest income these days. You can have air conditioning over the counter medications, pretty good food, an Internet connection.
[00:23:23] Speaker D: Just.
[00:23:23] Speaker E: There's so many comforts and luxuries that you can afford with such a modest income these days that I feel like a lot of people get pretty comfortable and it becomes easier for the, the powers that be to keep you comfortable and, and prevent you from, from growing. And I think when you talk about the, the middle class shrinking Junior, I think that kind of goes in with what I'm thinking there.
[00:23:49] Speaker A: Yeah. And you know what?
When I look at what's going on, you were right. I mean, but part of it is, could we have gone too far?
I've said over the past that we are the fattest, most instant gratification, laziest en masse. There's always exceptions. But we have just gotten so spoiled. If we have a power grid failure like they have right now in Tehran, Iran, you know what they had in Venezuela, what they've had in Argentina, Brazil, Detroit, Michigan when they filed bankruptcy for a short period of time, they couldn't get into their banks, there were problems. If we had a modern day power grid failure, an emp, a solar flare. Could be God created, could be man created. We're, boy, we're in trouble. I watch my youngest son and boy. Oh, I'll tell you something. Buy stock. Here's an insider stock tip. Martha Stewart, if you're listening, buy doordash stock. The kid doesn't. He's a good cook, he makes breakfast, but he orders a lot of food through doordash. And it's so funny to watch him peek out the window. Like he never wants to actually encounter the doordash delivery person. He'll wait until they say it's delivered and then I'll peek out the door. And if they're gone, the vehicle's gone, then I'll open the door and grab the food. So. But Sam, my worry is. And is it going to happen? How would I know? I don't have a crystal ball. If, if things do get sketchy in this country, we're going to panic. You know, if you're in Arizona and we have a power grid failure and it's like July or August and it's, and it's really hot, you're going to freak out. There was a road rage I told you about last week because somebody took too long to get out of a parking space.
So I just, I worry a little bit about humanity. I think we've, we've kind of. We were tougher in the 1900s. We were tougher in Tombstone, I assume. I don't know, Anthony, I talk all the time about how now we have access to all this information. Things may have been you're right. Sam may have been way worse, but now we can see it 24 hours a day on our handheld device. What if your handheld device goes out? Even you, Anthony. You're on your phone a lot. Me too. I can't remember last time I went into the restroom without a phone. You want me to tell you more? We got to get to break time and then we can continue this or move on. So I just love that Sam that you. You made the fact that, you know, it's never been easier to be poor. You're right. The poor now are very doing all right. So reach out to us. We'd love to meet you. We'd love to have your show ideas. We'd love to, you know, have you tell us if you want more Anthony and less me. It's not going to happen, but we'd love to hear it. We're at 623-523-0444 or you can email us team@another money show.com and please go to our YouTube channel. Shelby's doing a bang up job. We've got almost 700 followers, but we do have almost a half of a million views on Anthony's short. So come check them out. We'll be right back. Thank you so much for being with us. We do greatly appreciate it.
[00:26:33] Speaker C: To schedule your free no obligation consultation with JR and Anthony, call 620-352-30444 or visit anothermoneyshow.com.
[00:27:01] Speaker D: Have you ever made a dumb financial decision you wish you could take back? Are you worried one wrong move in retirement could wipe away all your years of hard work and savings? What if I told you it doesn't have to be like that? Most companies stopped offering pensions decades ago, but what no one tells you is you can fund pensions yourself.
Give yourself the peace of mind of having income you can never outlive in retirement by adding a pension as a part of your retirement plan. Hi, I'm Anthony Crayo, co host of another money show airing on Saturdays at noon on 960 the Patriot and advisor with Rotchrid and Associates in Sun City. Reach out to us at 623-523-0444. That number again is 623-523-0444. Let us help you plan your lifetime income and retirement today.
[00:28:00] Speaker C: This is another money show.
[00:28:02] Speaker E: Hopefully that doesn't land the wrong way or come off as inconsiderate, but I feel like the point makes sense.
[00:28:09] Speaker A: Not at all. I don't think.
[00:28:11] Speaker D: I mean it won't to this audience, it definitely could come off that way, but I don't disagree either.
I get, I get what you're trying to saying, but I, I a hundred percent see people not hearing that the right way.
[00:28:25] Speaker E: I'm not saying that people don't struggle, but I'd much rather be struggling today than.
[00:28:32] Speaker A: Do you want to say that? Do you want to finish?
[00:28:35] Speaker D: Think about it this way. Just in general, like, yeah, living on the streets would absolutely suck, but we're on the top of the food chain. Like, living on the streets, you're not having to fight lions and tigers. And would eating out of a trash can be cool? Absolutely not. But you could, like, if you look at it, just a pure survival list mentality. Absolutely. It's way easier now. But that's still like, still don't want to be poor now.
[00:29:05] Speaker A: Sam is a master at cutting and pasting and slicing and dicing. Whenever I say something I shouldn't or whenever you use vulgarity, it seems to be missing. When I hear the show. Let's do this. Let's bang out the Festivus Report item. I'll do that real quick. If you're new with us, we're trying to read one little blurb every week on how our tax dollars are being wasted. I did get some feedback on the one I did last week and somebody on the YouTube channel asked, well, so they're confused.
Do I want people to die? Not at all. Not at all. That thing we talked about, the raves last week, if they're testing you after you've taken the drugs, how does that prevent death? Then they're going to find out you took fentanyl. It's too late. I want people to be smarter with our tax dollars. If we really can help people so they don't die from drugs, figure out a way. I also think maybe if you're a rave, maybe you should have some skin in the game and you should pay some money towards testing people. I don't know. I don't know the answers to this. I just know if, if I read some every week on millions of dollars being wasted and it adds up to a lot of money, I'm not sure we should be doing that. I think we should be smarter with other people's money.
So let's today, let's get to this one today.
Amount wasted. Oh, this is a big amount. $54 million. Fauci and the NIH weren't the only ones who funded the Wuhan lab. The disgraced USAID gave Eco Health Alliance 54 million to collect underground bat coronaviruses, transport them to labs like the Wuhan Institute of Virolog and soup them up in a gain of function. Soup them up? Was that a tongue in cheek? Soup them up in a gain of function experiments with humanized mice to make them more contagious and deadly to people. This reckless virus hunting and research funded by USAID likely caused the COVID 19 pandemic that killed millions and cost trillions. But USAID continued forking over millions of tax dollars to be tainted to be tainted group until mid-2020, four years after their connection to Covid and the Wuhan cover up was exposed.
When I demanded answers from the Biden administration about USAID's funding for Eco Health's gain of function work in Wuhan, I was stonewalled. The rogue agency has now been dismantled, but I've continued to relentlessly investigate the origin of COVID 19. Good for you, Rand. Don't let them go. Keep investigating. Sir. So we need to bring back Elon Musk and Doge. We need to clean this ship up. Rand, at least you're doing your part. Let's get to current events.
Yeah. Anthony, you have anything to say? I want. I want if you.
No. Yeah. No, no, no, I don't. Anthony, do you want to talk? No. No, I don't. So I do. There's another term that I've asked you to look up recently. I do want you to look up plunge team. What is it? The protection. There's another word for it we call the plunge team. The reason I say that I. I don't think we're out of the woods with this market yet. I realized that last week, I believe it was on Saturday or Sunday.
Our Commander in Chief said, we're going to give you 48 hours to open up the Straits of Hormuz. And if you don't, we're going to blow up your like energy and different plants. And then come Monday morning, apparently he changed his mind and said, we're going to give you five more days.
So when that true social post, when the tweet or the X or whatever you call it, when that went out, the stock market, you jumped for joy. So Monday morning, the futures were way down because the attack on Iran was gonna get deeper. And then all of a sudden a post comes out and your Dow Jones industrial average, your NASDAQ, your S&P 500, you know, the pillars of strength in our financial markets, they all jumped Monday morning. Well, that kind of sampled on there. The plunge protection team, the PPT is A colloquial name for. For the Working Group on Financial markets created in 1988 following the 1987 crash to advise the US President on market volatility, maintain investor confidence. While often accused by critics of secretly intervening to stop stock market crashes. I am one of those. I am one of the critics. If you don't stop the market from going up 20% tomorrow, but you stop it from going down 20% tomorrow. Rigged, not fair. So, yes, 100% manipulation. They only stop the downside, not the upside. So give me a break. Anyway, yeah, that was after Black Monday, I guess. That was a rough day. We could very much have another Black Monday. We could have a 2000 and 2008 combined coming up. I'm not ruling it out. I mean, I've seen the movie Boom, bust, boom. I think we're in the biggest boom we've ever had in our life.
March 9th was 17 years since the bottom of the great financial crisis. So hang on, kids, we'll see what happens. I don't have a crystal ball, I can tell you. We're not getting our clients in the office to panic. We're getting them to know what they have. We're giving them advice. We're a sounding board. We're a second opinion. If it's appropriate for you to buy the dips and sell the peaks, we'll let you know. If it's appropriate for you to buy the peaks and sell the dips, we'll let you know. We'll work with you to help you on what to do. So come see us. So back to last week when there was a ridiculous amount of market activity in one morning.
Something odd happened. Martha Stewart. I know I asked if you're listening earlier. I hope you're listening again. Cause this should make your blood boil. So here's an article for you from the BBC. I think that's something out of Britain or London or somewhere. So oil traders bet millions ahead of Trump's Iran talks post.
All right, Anthony, follow me, follow me on this one. This is, this is juicy. So traders bet hundreds of million dollars on oil contracts just minutes before US President Donald Trump announced on Monday that the US Would postpone strikes against the Iranian energy infrastructure market. Data reviewed by the BBC shows the volume of trade spiked around 15 minutes before a social media post by the president announcing the move. The price of oil fell sharply after the announcement, dropping 14%, not 4. 14% in a matter of minutes. Traders who bet on the unexpected move would have made money. Yeah, you think some more market analysts Say the unusual activity opens up the possibility that the bets may have been placed with prior knowledge of the decision. You think? The BBC has contacted the White House for comment. A spokesman told the Financial Times that it did not tolerate any administration official illegally profiteering off of insider information. That's all they do. Nancy Pelosi, I know you're retired, but I know you're still a loyal listener to another money show. At least I think you should be. So, Sam, put up what the British Broadcasting Corporation means. Thank you for doing that because I didn't know what BBC means. So when. Nancy, if you're listening to our show, come on.
Seriously. The White House doesn't tolerate that.
Let's see here. One last thing. The Commodity Futures Trading Commission did not respond to to a request for comment. Oh, no kidding. The securities and Exchange Commission declined to comment. Okay, color me shocked. I don't know if you don't think the rich are getting richer, the poor are hovering in the middle class are shrinking, and there's a lot of manipulation on how they're doing it. Let me introduce you to about half the articles we've read to you over the last four years.
Did I mention I had four cups of coffee, Anthony, not two or three like usual. Before the show, I had four. Let's do a little bit of, let's do a little bit of news. Let's talk about something that doesn't seem to have made it too deep into the news. And I'm not sure why this should be a huge story. I did print off an article so I have something to reference. You know, why I print off articles instead of just summing up what I heard for the week. I can't get to it all. I can't remember it all. I get so much information and news in one 24 hour period. If I don't print these things off, I will lose half of what I, you know, And I have a small brain. The problem with having a small brain, every time you learn something new, something old has to get pushed out. So I don't want to push out things that I need to bring to our listening audience. So I print this off. This was on the 23rd of this month. Massive explosion reported at oil refinery in Texas.
Reports were flooding in on Monday evening about an explosion followed by a pillar of smoke rising from the Valero refinery in port Arthur, Texas. 12 News viewers called in to say that they heard a boom that rattled car windows. One resident at the scene told a 12 news crew that the area smells of rotted eggs. Antonio Mitchell with the Port Arthur Fire Department confirmed there was an incident at the Valero facility, but said details remain limited. At that time, Jefferson County Sheriff Zena Stevens said the incident might have involved a heater unit. Yeah, might have. That's true. Port Arthur police and fire departments advised residents on the west side of the city to shelter in place. Do you want me to put on my tinfoil hat? Do you want to hear what I think? Yes. It could have been a heater. We had a. We had a guy in the office yesterday, a guy named California, and he was saying how when you look at the chemicals they're using, when you look at the, the. The risk involved with refining oil is it's not unusual that there could be a fire.
My thing is, you are correct. I wasn't there. I don't have any insider information.
Bring up Martha one last time. But I do know the timing is suspect. All of the oil refineries and all of the, the, you know, energy, the allen, the liquid natural gas and the diesel and all this stuff. Now we're going to have a refinery. Just the heater blows up on Monday of this week here.
I told you last week or the week before, what's really going to perhaps be the black swan event that crashes. The market slows down, the housing market changes everything.
If gas gets to $10 a gallon, we're in heat. We're in heat in Arizona.
It's hot here in Arizona. We're not all in heat, but it's hot here in Arizona. And then you add the cost of food, you add how after Covid, everything changed. After Covid, it almost seems like. And I'm making a sweeping generalization. Don't, don't, don't all, you know, call me out on this. You get less good service when you go out to dinner in different places, it's hard to get good help. Everything kind of changed. And if your 401k is going down and your gas prices go up, let's say to $10 a gallon, I think this country may, might, could possibly hope we will have to see.
What are you looking up, Anthony? Anthony's looking up stuff. He's probably in that end of the world book he was looking at last week to see what to do when there's no gas.
So I just, I don't know. Cal might be right. It just, you know, things happen and I might be right that it's just weird. The timing is suspect and it is going to mean less gas at your local gas station in this country, you know there's fires in California periodically. I just, I mean, watch out for what's happening. You know the solution. Since we can't do anything about it. Keep your tank filled. I'm not worried because it's going to go up 9 cents tonight and tomorrow you're going to pay more. I'm worried about if, if there's a shortage like there was, I don't know, about 20 years ago, the pipeline from Tucson to Phoenix, it was Kinder Morgan pipeline, man, that created some panic overnight.
It broke during the night. The next morning there were really long lines at gas stations. It was crazy. So keep your tank full. If you have any five gallon gas cans, it's a good time to cycle those and keep them full if you ask me.
In a related story, the End Times headlines publication says Saudi Arabia warns of $180 oil if energy shock persists past April. Well, we're in the last week of March, aren't we? Or we are close to it. Saudi Arabia is warning that oil prices could surge to extreme levels if current disruptions to global energy supplies continue.
Some projections pointing to as high as 180A barrel if the shock extends beyond early April.
I heard it thrown around here with our government that it might go past 200 a barrel, but I don't know. The concern stems from escalating geopolitical tensions in the Middle east that have already begun to restrict the flow of crude through critical routes and damage key energy infrastructure. And now we've got damaged infrastructure in Texas. The recent conflict has created a sharp imbalance between supply and demand.
Attacks on oil facilities and shipping lanes have removed significant volumes of crude from the market, pushing benchmark prices sharply higher in a short period of time. Okay, that's great. We all know what's going on, so just watch out for it a little bit. You know what, I'm gonna stay in the Middle east for a second. Here's an article. I just find this interesting. And again, a lot of what I find I just don't ever see on the nightly news. So I want to make sure, you know, to look into it if you feel so inclined.
This is also from End Times. I got a new favorite publication. I mean, I'm, you know, zero hedge, Gateway pundit. I like some of these because they find stuff I don't find elsewhere. But I'm definitely adding End Times headlines. They pull stuff from the BBC and Telegraph and different sources around the world. So I love this. Iran targets Diego Garcia base with ballistic missiles. I guess I don't have to read too much of this one, but I'll give you a little. Iran's attempted strike on the remote. The Diego Garcia military base marks a sharp turn in the scope of current conflict, signaling that the confrontation is no longer contained to the Middle East. According to US Officials, Tehran launched two intermediate range ballistic missiles toward the joint US UK installation in the Indian Ocean, a move that highlights both intent and, and expanding capability.
What stands out most is the distance involved. Diego Garcia lies roughly 400 kilometers from Iran, far beyond the previously stated range of 2,000 kilometers cited by Iranian officials. I'm not good with math or numbers, but that's almost double. By targeting the base, Iran appears to be signaling that its missile program has advanced further, further than publicly acknowledged. Maybe, maybe our government was onto something when they said Iran's a threat. They could be, you know, they could be dangerous to us. Maybe they were right. I don't know.
Let's see here. Sam, how much time do we have? I'm going to get to a couple, I'll do a couple real short articles. Oh, we still have a little time. We still have a couple minutes. So multiple here, here's from. Here's a little more mainstream. ABC News from 20 March says multiple waves of unauthorized drones recently spotted over strategic US Air Force base.
All right. I mean, here we go. Do you remember the Chinese weather balloons? Does anybody remember that?
The Chinese weather balloons that, you know, we probably should have shot down as soon as we saw them. I got a, I got an idea for you if you're in the Air Force. I know I was, I joined the Air Force voluntarily and by the way, I'll get back on this, but Anthony sent me an article. Apparently the army is, they need more recruits. So they're going to change the, the age, the enlistment age up to 45 years of age. Really? 45. You're going to start learning how to salute people, how to march, knowing you're right from your left. You're going to start at 45 and retire when you're at least 65 with a fairly physical job. Good for you. And I guess they're going to say that marijuana use is now okay, so they're going to take 45 year old
[00:45:48] Speaker D: men that are now you guys start doing coke instead.
[00:45:51] Speaker A: Yes, it's a gateway drug. Now people are going to have to switch. They're going to have to go to raves and start taking other drugs and then we'll test them and see what they took. I don't know. I mean, I just I can't. The news is so. It's so much.
So back to the Air Force basis. Let's see what's going on here. A drone sighting that temporarily raised alarms at one of the United States Air Force's largest and most strategic airfields earlier this month was more extensive and potentially more dangerous than first reported, according to a confidential internal briefing document reviewed by ABC News. Barksdale. Ooh, that's in Louisiana. Barksdale Air Force Base in Louisiana said it was under a shelter in place order March 9 after a report of an unmanned aerial system operating over the installation. The sighting raised concerns because Barksdale houses Long range B52 bombers and plays a critical role in command and control of the Air Force. Nuclear. Do you hear that word? Nuclear defense capabilities. The shelter in place order was lifted later that day, but the unauthorized drone flights continued for nearly a week.
If there's drones going over the base for a week and you haven't shot them down with. Hell, if you need me to go back in the Air Force, I know I'm over 45, but can't you take my years in service and credit those back to me? So, yeah, yeah, shoot them down, guys over there. Barstow, if you're listening, shoot them down.
I guess I have to read more. They're basically. And I just. You know, when you put this article together there, that's a nuclear base and a B52 bomber base. And then there's people hovering around it. Yeah, maybe that's not a good sign.
See here, the flights lasted about four hours each day. Four hours. You had plenty of time. You know, there's people in Phoenix shooting at helicopters. The third one just happened. This yesterday, the day before, three people between Phoenix and Flagstaff have shot weapons at helicopters in Arizona. So get these people to Louisiana quick with their shotguns and their Glock 19s and 17s. Let's get over there. We need some rednecks.
Let's see here. The flights last about four hours each day, and the drones used varied routes of ingress and deliberate maneuvering within restricted airspace. What the actual.
All right, moving on.
I just. I need to get to this before the. The time wanes this Saturday, if you're a loyal listener and you heard us on podcast Friday, there's still time to catch it. Or if you're one of our five o' clock in the morning listeners, there's time to catch this. There's another no Kings protest planned for Saturday. Oh, and then because I take news from all over the world for you, not just Phoenix, there's a huge protest planned in London. There's one today and one on Saturday 28 March anti US government protests in London. So apparently the no kings protests are global. Good for you way to get together and let people know what you think. So shout out.
[00:48:52] Speaker D: They actually do have a king in London.
[00:48:55] Speaker A: The irony is not lost on on Anthony.
No kings in London makes sense. No queens. Let's get that queen still alive. I don't follow that.
But yeah they do have monarchy type stuff going on over there. So. But here presumably we do not have a king. If we had a king we wouldn't do these protests. Maybe they'll squash them over there with their king. Let's see here. I don't want to run out of time. I've got an article here from the daily mail from the 23rd of this month.
Mysterious hum heard across several US states as residents report vibrating homes and sleepless nights. I read this article and it talked about data centers being built and how where data centers are being built people's homes are humming. So watch out for that to come. Watch out for the data centers and the AI and all that to come. I also as a conspiracy theorist, open minded young man who actually does own a tinfoil hat. First thing I thought about when I saw that article research the term Havana syndrome and make sure this is data centers and not the testing of a weapon that could be used nationwide in this country to make us go crazy. Basically.
Anything else I have to get to man, we only have three minutes left. Sam saying Daily Mail also on the 20th food rationing, panic buying, planes grounded and an economic hammer blow far worse than Covid. Economists explain nightmare scenario the that could be just weeks away due to the Iran war. This article reach out to me and I'll send it to you if you wish. It lists what you should have at home like a hand crank, radio, batteries, flashlight. All stuff that I've told anybody that gets near me for about 20 years now. But we actually have. We don't just bring you problems, we love to bring you solutions.
So I'm Geez, I have about eight more articles here and I'm not going to get to them but I'll save them in case they're important for next week. I'll glance at them.
Before I turn it over to you Anthony, I just want to say thank you one more time. I did a lot of shout outs today Radio show We didn't do this as a one hour long infomercial. We did this to sound alarms. We did this to give back to our local community.
But man, it's been great meeting you guys listening. It's, you know, we, we are still in business and if we can help you with your finances, don't get me wrong, we, we would love to do that but that was not our motivation for the show. But it's been, it's been just so awesome. So we're, we, we have decided we don't need your feedback anymore. We're at least going to keep going for the next six months. That's where I was going with that. What do you got, Anthony? What do you got first? I'll give you two minutes of the show. How's that?
[00:51:24] Speaker D: No, I'm excited for you to go back and listen to this episode because you'll see how it's night and day difference.
That's it for today's show. If you like what you heard, you have questions about any of the topics today or you want to sit down with us to review your personal financial situation.
Anothermoneyshow.com you can book appointments straight from the website. Guess what the website is. It's anothermoneyshow.com if you want to just reach out to us and chat with us, give us a call. 623-523-0444. The number again is 623-523-0444. We get this question a lot still, even though we say it at the end of the show after an appointment, people ask how much they owe us for their time. Nothing. There's never a charge for appointments. Never ever ever a charge for appointments.
[00:52:13] Speaker C: 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 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.
[00:52:50] Speaker A: Hi, I'm J.R. rachford, host of another money show airing Saturday is at noon on 960 the Patriot. If you've heard our show you know it's more news based and how current events could affect your finances versus actually telling you what we do. I'm going to tell you what I've seen time and time again to be the very key to a happy retirement and that is income. You would think that those without much money in retirement are the only ones worried in retirement. Worried? What I consistently see is that those with large sums of assets are also just as worried. That worry always comes from the fear of running out. Stop worrying about your assets. Assets come and go. Income is forever. I believe self funding pensions are the key to a happy retirement and I can help you do it. Reach out to us at 623-523-00444. That number again is 623-523-0444. Or find us on the web at anothermoney show.com Spring has arrived, and with
[00:53:58] Speaker B: it the urge to fling open windows, sweep away dust, and finally tackle that drawer of forgotten receipts and tangled cords. But while your home gets an annual refresh, your finances might be collecting their own quiet clutter. I'm Jim Tarabokia for the Retirement Radio Network powered by Amerilife. Now that spring is upon us, maybe you filled your closet with those winter coats. I'm sure it feels quite liberating. But what about the financial dust bunnies hiding in your accounts? Break your budget Founder Michaela Alaka recently spoke with Yahoo. Finance about the importance of gaining a full view of your money situation.
[00:54:30] Speaker A: My best recommendation for getting started with auditing and spring cleaning your finances is to take a financial snapshot. And what this is going to do is show you how much money you are spending on essential things and non essential things.
[00:54:46] Speaker B: A recent guide from Morgan Stanley offers three straightforward steps to tidy up your finances and clear the path ahead.
First, clean up your accounts. If your money is scattered across multiple banks and brokerage firms, it can feel chaotic. And as financial advisor Matt McClure of the Retirement Radio Network tells us, consolidating where it makes sense can give you that full, honest picture of your finances. Take inventory of all of your accounts. Look for ways to simplify where your money is held because you don't want it scattered all around in a bunch of different places. You want to be diversified, of course, but you can do that within a couple of different kinds of accounts. Next, declutter your debt. Multiple credit cards, loans with varying interest rates and different due dates can create unnecessary pressure. And finally, organize your income and expenses. Take a hard look at where your money actually goes each month. A clear budget lets you direct more towards your near term or even long term goals, like a comfortable retirement. So just as a thorough spring cleaning refreshes your home, these small, deliberate actions can declutter your financial life and make room for what matters most. The spring offers a moment to pause and tidy up. And that includes your finances. For the Retirement Radio Network, powered by Amerilife, I'm Jim Tarabakia.
