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 A: This is another money show. Get set for another hour of the latest financial information and economic news affecting your bottom line. J.R. and Anthony are committed to helping more Americans like you optimize their inc. Reduce their tax risk and reach financial freedom.
So let's start the show. Here are your hosts, Anthony Correjo and JR Rochford.
[00:00:42] Speaker C: Here we are, your hosts, Anthony Correo, JR Rochford, taking a break from our day to day as financial advisors with Rochford and Associates, a fully independent fourth generation family practice right here in Sun City. And we are taking that break to give you news that you may not hear on those other financial radio shows. We're aware the last thing you need is another money show, but we appreciate you being here.
So Jerry is going to tell us all about why we should go out and get shingles and Covid vaccines and that's how we should start the show.
[00:01:11] Speaker B: Yeah, so if you're around my age range and you watch much TV at all, which I really don't, so if you watch much TV at all, you'll probably know about this more than me. I keep seeing something about a shingle shot and I'm like, I mean, didn't everybody kind of develop a bit of mistrust in the doctor field after Covid? I mean, didn't end, you know, putting people on ventilators to make sure they die? I mean, everything that happened, like, I don't want to go to the doctor for anything. This. I'm a little bit under the weather today. I'm trying to figure out, I think this is time number six or seven this year already, that I don't feel well and I don't know why. I'm generally a fairly healthy person, so it's kind of weird. And I brought up chemtrails to Sandy over the weekend because, yeah, whenever we're in Snowflake, we don't see the chemtrails, we don't see anything that looks weird. We see clouds, I guess I should say that seems weird. And then when we head back into the valley, I'm, look, look, look, I'm pointing them out to her. She's like, she doesn't believe in it whatsoever. She doesn't think that anybody would ever do anything to harm anybody for any reason whatsoever. So I, I mean, am I saying that I'm sick because of chemtrails? I'm not saying that. I think we're all a little bit, you know, biologically getting sicker because of things that are sprayed, processed food, aluminum in our deodorant, you name it, you know, fluoride in our water. But the chemtrail thing, I mean, I'm pretty sure it's real. So we wanted to start the show with a tinfoil hat on.
[00:02:38] Speaker C: Yeah, I brought that up as a joke. I didn't expect this to be the turn that it takes.
[00:02:44] Speaker B: All right, so I'll switch gears then and get off of that. You know, I've been really good at starting the show with shout outs and I. And I don't have much for this week.
Quick shout out to Michael C. From Sun City and his wife. We have relied on them heavily around our office and for the show and so forth, and they're going on vacation. So all of a sudden the reality sets in that we're not going to see them for a little while. So I hope you guys travel safe and have fun and we'll be here watching your place and hopefully Anthony will be watching the office if I die from my cold. So shout out to the one and only Sam Davis. Every week we get here about, I don't know, five to ten minutes, just chatting before the show starts, and we talk about everything under the sun. And today it was about doctors and my general mistrust. And Sam's experience is it's kind of difficult to get in to see a doctor right now, which, I mean, you know, a lot of times we've talked about Canada and universal healthcare, socialized medicine and how, you know, you ain't seen nothing yet. If we go to that program and. But yeah, I mean, we. There's less and less doctors in this country and there's more and more people in this country, and it's just there's going to be shortages. So that's. That's the wave. You know, I will tell you, I read a lot lately about AI. I mean, I'm really trying to understand how things could change over the next 5, 10, 20 years because of AI and they're saying a lot of, you know, white collar jobs, attorneys that read contracts. AI can go through a contract faster, look for more things, not charge you the fees that attorney charges hourly. And some of what I'm reading is about the medical field and how it's going to replace people. I'm like, oh, my gosh.
So anyway, why don't we jump in today? I want to talk about several things. Financial, but I'll start and I'll. And I only have a few articles. I wanted to kind of lay off the articles because it's just. It's overwhelming. I mean, last week, talking about an underground city, I. I doubt people looked into it. I mean, I'm. I'm guessing people are like, that's great. There's nothing I can do about it. There's no reason to explore it. But, I mean, would it surprise anybody? You know, when there's endless supplies of money, which there really isn't. We are going to talk about that a bit today. But, you know, when on the surface there's endless supply of money, can't people do whatever they want? And I. I just. There's so much. I did have somebody text me after the show and they said that they have never heard of the word dumb. I said the word dumb. It's D U M B. It's an underground military base. It's deep underground military base. And the. I got a text from the same person after looking into it a little bit, and that person was completely shocked at what she read. So if you're listening again this week, I'm sorry that I had to bring that to you because it's really disturbing. But there's a lot of stuff. You know, day to day, everything seems so normal, but behind the scenes, it's. It's really. I don't know, there's a lot of weirdness. So I hope it comes out. I am watching Dan Bongino, Cash Patel. I mean, I'm. You know, they're. They're under a lot of pressure right now. You know, they both are saying. And here I'm jumping into the social side of things, not financial. You know, they just came out and said that Epstein did commit suicide. It's like people brought these certain people together to get the Diddy freak off party list exposed. Get the Epstein island list exposed. Jfk. I mean, you know, we wanted full disclosure for a change. We wanted, you know, people like me want to be vindicated and. And kind of see, you know, you're not crazy. You. You've never been wrong. You've been early, but never wrong. And now and nothing's happening. You know, I'm. I'm sure Anthony and Sam, I'm sure you both know this. If you're listening, you know, hopefully you know it by now. Elon Musk is. He's done. Doge is Done. He stepped out. And while he stepped out, he basically, he really, really kind of slammed Trump and he said, you know, talking about the bill, the big beautiful bill, and basically what he said is, you can have this bill. It's either going to be big or it's going to be beautiful. I don't think it can be both. And, you know, when we touched on it a week or two, a week or two ago, I was like, I'm undecided. I want this country to make it. I want things to be fixed. I don't know how it's possible.
And now I'm seeing Elon Musk, who really, I mean, you know, he doesn't need to be under pressure. He doesn't need to work for the government. He's got his own stuff to do. He's basically washing his hands of this and going back to his private companies. And that to me is a really, really bad sign. You know, this big, beautiful bill, it basically, you know, unless it came out and said we're going to stop the reckless spending, it's. Everything is about more spending and it's going to tip. You know, we're going to get into bonds a little bit.
Everything kind of ties together.
And I'll give you the bottom line. I believe that we are going to have a stock market collapse. I think that's all a house of cards. I think it's smoke and mirrors. I think it's just junk. And I think, you know, the housing market that always cycles, you know, in 2005, we were like, oh, you know, this is new. 2006, 7, 8, 9. You know, we've had quite a run. You know, at least in Arizona, these housing prices are amazing. Well, all of a sudden the days on market are slowing down rapidly. People are having to make concessions on new builds. You know, the housing starts are changing. So we're going to go to the next cycle on that.
What, what concerns us at another money show, Finances, financial matters, what, what things are going to look like in the future. And you know, when we started the show three years ago and we told you you need to look Up Executive Order 14007, you still need to, you know, new administration. Nothing's changed. The fiat currency's life span is over the world reserve currency that we are, we're at the end of the run. It's all happening so fast and right in front of your eyes.
I have a feeling that Sam and Anthony, who are younger than me and haven't seen quite as much as me in the financial World are like there's nothing you can do about it. Why would you worry about it?
And I have expressed to Anthony and Sam, you guys don't worry about it. So I'm here for you. If there's anything that needs to be worried about and you guys don't worry about, just turn it over to me. I'm worried about everything. So I think what you're seeing right now, you are in the early stages of losing the dollar as the global currency of exchange, I think. And watch these bond markets. We talked a couple weeks ago about Japan. Worst bond auction in 40 years. Japan's been in trouble forever. They like us, they have a printing machine so they can just print more money. It's starting to not be so effective. Our bond auctions here, we've had the worst one in a long time. Just last week we had one that was the worst in 10 years. Nobody is buying our bonds anymore. Now they're starting to dump our bonds, they're dumping our debt. So everything that we've been worried about in our office with the future and nothing happens overnight is coming true.
So when you look at and what is our country doing about it? We had really bad bond auction last week. The government is quietly buying up our own bonds again. We're 36 trillion in debt.
Doge uncovered some amazing reckless fraudulent spending and now that's going to stop. You know, we, we brought light to it. But who's going to enforce stopping that reckless spending? Who's going to do it? Everybody's busy. They have kids, they have work, they have dogs to walk. They have stuff to do. You know, Sam has to go to the doctor. Sam, I'll never give your HIPAA protected information on why you're so young. So I just, I hope it's, you know, just routine.
So Sam's nodding the right way. He's like, it's nothing terminal. So I just, I did, I don't know how bad to worry about you, but I will if need be. So speaking of the bonds, I am going to jump right into one of my articles on this. This is from MSN on the 18th of May. By the way, today as we record it is May 29th. We're almost to June.
So May 29th is today. This was from the 18th of May. Why is the Fed quietly buying billions with a B? You always have to say with a B when you say billions in bonds and hoping nobody notices.
The U.S. federal Reserve just pulled off something stealthily over the last four days without fanfare, the Fed vacuumed up 43.6 billion in US treasuries. So nobody else wants our debt. So we're going to buy it. We're 36 trillion in debt. Medicare, Medicaid, Social Security, everything is teetering. Everything is in a precarious position and the government is not announcing it, but they're buying. And I, yes, obviously Anthony, I found several articles showing that this is really what's going on. So let's see here. That's eight long dated 30 year bonds on May 8th alone, plus another 34.8 billion earlier in the week. Not exactly small change. Not really. Not for a country that's indebted so bad. Let's see here. Quietly returning to the quantitative easing trough isn't standard Fed housekeeping. It's like a bank robber returning to the scene because he forgot his car keys. Why is this his car keys? I bet it's warmer. Let's talk straight. This isn't tightening, it's stealth easing. It's monetary policy on tiptoe. Some traders have begun to notice and smart investors should too. Commodity traders in particular have a nose for monetary sleight of hand. Gold, the ultimate financial cynics metal, I like that cynics metal has risen sharply in since early 2024. Gold doesn't believe in politicians, central bankers or economists. Even the Ivy League types who have, who wave their hands and promise stability. It believes numbers. Last thing I'll read here. The Fed's stealth quantitative easing is in the opening act of a larger financial drama.
Gold is climbing, Bitcoin's gaining legitimacy and resource rich economies like Brazil are poised to benefit. Central bankers typically have fewer tells than professional poker players. But right now they're twitching. And the quiet moves by central banks often precede loud market shifts. So what's going on is our government, what, what they've done, our current administration is they've, they've made everything about tariffs that's been this year's big thing is tariffs. Yeah, I think most people by the time you have heard this, by the time you hear this Friday night, Saturday, you'll have heard federal judges have blocked Trump from his tariffs.
I mean his whole everything hedges on the tariffs becoming fair and helping our country get ahead. Apparently that's on hold right now. So. And you know the market jumped, what was it Tuesday, the Dow jumped because you know we are going to pause tariffs on Europe until July.
The whole thing, the last few months about tariffs has led to a lot of panic in the markets and then a lot of jubilation in the Markets. And now it's, it might not happen.
Doge is done. We're not going to cut reckless spending. Nobody.
[00:14:31] Speaker C: Why is Doge done?
[00:14:32] Speaker B: Why?
[00:14:32] Speaker C: Because Elon Musk, like, why don't they hire somebody else to oversee that?
[00:14:37] Speaker B: I mean, my whole thing, I think the system is so badly broken, so widely rigged. I think it was great intentioned. I think Elon Musk brought things to the surface, everybody in the deep swamp to make it sound kind of political.
It's, nobody wants things to change.
They want to keep sucking the system dry until it absolutely collapses.
And then that's. And I think it's on its way. I think that's where I say the housing market is going to cycle and not in a good way. You know, part of this bond buying, part of the quantitative easing starting up again. What's it going to lead to? Inflation.
I mean, we, you know, the inflation is going to be a problem. I saw the job numbers this morning, the unemployment numbers were up. You know, I mean, I look at one of my sons who at least says to me, he just cannot find a job.
He's put out tons of online resumes and he's working, he's working a couple part time things. He's exploring the option of a career. So he's, he's busy right now, but he wants to get in somewhere where it's at least 40 hours a week while he explores his future. And he's saying he can't do it. I have seen him put out resumes, I've seen him put on a nice dress shirt and go in person to a couple places to no avail.
So I don't know. I mean, it's just everything is, the direction we're going is very scary. And I think this stuff with the bonds, I think the bond market is going to dive. I think Japan led the way and we're following. And I don't know how we get out of this. Well, I do, I do. I've been saying it for three years, I've been saying it for longer in my office, but I've been saying on here for three years, we end up losing the dollar as the world reserve currency.
And then the government, as they always do, sweeps in to save the day. And this time the only thing I can picture is they're going to save the day by a central bank digital currency. You know what it's going to be, you know, 20 years ago, 25 years ago, I used to read about the Amero that was going to be the currency for North America. South America that was going to be our region of the world's currency was the Amero. That kind of went away. I mean, when you look at what's going on right now, for example, with bitcoin, you know, one of the biggest holders of bitcoin is the government. Do you realize that they're in the top 10 holders is the government. Well, when bitcoin started, part of the luxury on bitcoin was the government can't get their fingers in it. You know what I mean? It was untraceable, untrackable. You better not lose your. Your password or your login or whatever because then, you know, you have nobody to get help from. So the top 10 holders in Bitcoin. I'll just read the top seven. Number one, Satoshi Nakamoto. That's who started bitcoin. I don't know if that's a consortium. One person. Nobody really knows. Number two. Shocking here. Number two. And these are the top holders. BlackRock. No, no way. Not BlackRock. They got their hands in something else. Number three, Binance.
Number four, Strategy B.
Number five, Grayscale G B, T, C and BTC, Mini Fidelity. And number seven, and my favorite on the list, the US government.
So the bitcoin. And at what, what is it today? 106,000 a coin and you still can't use it at Firebirds on a third. You can't use it at Walmart.
You have to put your money back in the fiat currency to use it. It's great for billionaires, I guess. I mean, I guess it made a lot of bitcoin millionaires and billionaires. We don't seem to run into them.
You know, at least we would explain to them diversification, moderation, that sort of thing. But it's not helping this country seeing that the government is the seventh largest holder on that list.
That could very well be it. It could be bitcoin.
I don't know. I just know it's, you know, something is going to change, and I think it's sooner than later. Do I think it's next Wednesday? Of course not. Do I think it's going to evolve and change over the next years? Yes, I do.
So. And we have to have people positioned. You know, what, what is our answer, Ben? Let's say nothing happens. Nothing I've ever said has been right. We just keep going forever. Then you need to do the things we've said anyway. You need to pay down debt, you need to buy hard assets, you need to keep some cash at home. You know, we haven't talked in a while about a bail in. So what a bail in is what we went through in 2007. Eight, nine was a bail out. We had banks that were too big to fail. They were systematically important.
So the government got to decide who stays, who goes.
This time they don't figure that'll work again and I don't figure that it will either.
So they are going to do what they did in Cyprus, in Greece, they are going to basically seize our money. We are going to make things hold this time. We are unsecured depositors when we put money in the bank. I've been shouting for years, many years. When Anthony came in the office I got him up to speed on it. You need to go to the fdic.gov website, go to their own website and look at what they have. Look at the troubled banks. Look at the dif, the depositor insurance fund. I haven't seen it yet but I just heard this morning I follow a gold company named ITM Tradings. I hope that's okay that I gave you a plug ITM and they said that it's right under 1.3, the new quarterly numbers are out and that they're the amount of money that you're guaranteed funds which means under 250,000 per account or they have 1.3% coverage. And when you think about that, if you only have $100 in the bank, well you're probably not going to be too affected by a bail in if you have 100 bucks but you're going to get a dollar 30 cents or right under it. Think about that. What if you live in some city and you still, you've never seen a bank run. Your parents did.
Your parents were their great Depression.
They've seen it.
So if you don't, if you're not a big person for the stock market and you don't understand fixed annuities and you don't understand dogecoin and Bitcoin and all those, you probably have money in the bank and I can tell you right now you should be afraid. I hate to be that extreme, but you should be afraid because there is no money and during the next crisis they're going to most likely do a bail in. So read about it, make sure you understand it.
Back to. Let's go back to some of the articles Anthony sent me. This one speaking of banks from the daily HODL On 24 May, nearly half of all Zelle scams at JP Morgan Chase and other US banks traced to a single source this is pretty interesting, Anthony. So a single company is fueling a massive volume of scams of the popular bank owned payments network Zelle. According to a new report, Meta platforms through its flagship apps Facebook and Instagram is becoming a cornerstone of the Internet fraud economy, reports the Wall Street Journal. I'm so glad I'm old and I don't have. I never even had PayPal. I always had to use credit cards for things. I'm so glad I don't have Zelle on any of these things. Venmo, I don't understand it. I think if it's so easy and convenient, it also could be corrected so. Citing people familiar with the matter, the Wall Street Journal reports Meta announced for nearly half of all reported scams on sell at JPMorgan Chase between the summers of 23 and 24, numbers that are similar across all US banks.
Internal meta documents reportedly reveal a staggering 70% of newly active advertisers on its platforms promote scams, illicit goods or low quality products.
The scammers are often linked to Southeast Asian crime networks. Wow, this is deep. That exploit Meta's oversight, cryptocurrencies and generative AI to flood its platforms with fake ads for puppies, giveaways and bargain goods. Meta allows Advertisers up to 32 automated strikes for financial fraud before banning accounts, which critics say prioritizes the company's 160 billion in ad revenue.
One last thing, Meta's marketplace, now larger than Craigslist, has become a scammer's playground due to its peer to peer model.
So if you are on Instagram and Facebook, I would say be very careful. That's very scary. We, Jay and I, that's my youngest son, we were just about involved with one, but there were some red flags. There was a friend and I use air quotes when I say friend because I don't know half of the people that I'm friended with on Facebook that had a vehicle for sale and my son was looking for a vehicle this fit the description he was looking for. So the guy wanted a deposit. He wanted us to use Apple pay to do a deposit just to hold the vehicle until we could get there to look at it. And I was like, but we're going later today. I mean I'm messing. The guy's message, it looked very legitimate. He's got mutual friends on Facebook.
So I'm messaging back and forth saying that I can be there this afternoon with my son and either we like it and we buy it, we're going to bring the cash we presume you have the title or we're not. Not going to give you a deposit to come look at it.
And all of a sudden, magically, the deal just gone. I'm like, oh, my gosh. So had we given, and I don't remember was. I think it was 500 deposit he wanted, you know, take it off the price of the car, if we buy it, refundable. If not, we would have sent $500 and it just would have been. That guy would have been gone with no trace. Went back in a couple of days later. Just out of curiosity, to check in my friend and see if that, you know, listing is still up. He's gone. Not a friend anymore.
So be very, very careful.
I think after the break. We're getting close to the break time, but after the break, I am going to shift gears a little bit and talk for a minute about scams and how to protect yourself.
Most of you already know most of the stuff I'm going to say, but it's a good reminder for you to.
[00:25:23] Speaker C: Hear, oh, even knowing that people still fall for it all the time.
[00:25:27] Speaker B: They do.
[00:25:28] Speaker C: We should know better. And they still do it.
[00:25:31] Speaker B: I mean, we had one that it started with. With, you know, he was threatened or he was, you know, made intimidated, and they said he had to go to the store and buy Apple Play cards, gift cards.
Like, what. What kind of government agency, which this presumably was, is asking for Apple gift cards?
And. And it started innocently, and then it just kind of spiraled until this man lost a ton of money. And it'd be one thing if we're like, yeah, well, he wasn't very bright. This wasn't a guy. I mean, obviously, duh. If anybody's gonna fall to a scam, it's him. We just had another person recently that. And I guess, luckily it didn't go through, but another person was scammed, or at least the beginning stages. And then it got stopped through her bank. It's like, oh, my gosh. So. And there are people that make a living going around and doing presentations on how not to get scammed. We've had one of them on our show, Malia Madrid. She talks to people about how to watch out for this stuff. So it is important. But why don't we take a break? We'll come back and we'll talk a little bit about how to avoid scams, then we'll do a few more articles and go from there. So thank you so much for being with us. You know, we always appreciate it if you'd like a second opinion on your financial matters. If you have any questions for us, if anything we talk about piques your interest and you want more interest, give us a call 623-523-0444 or you can email us at team anothermoneyshow.com lastly, if you would, please help us. We're still working on the YouTube channel trying to get that thing to grow as fast as we can. We've got over 270,000 views on our videos and shorts so we are very appreciative of that. But please check it out, like it, share it, help us. We'll be right back.
[00:27:16] Speaker A: Another weekend, Another money show. Visit anothermoneyshow.com She's a good girl.
[00:27:25] Speaker B: Loves her mama, loves Jesus.
[00:27:30] Speaker A: At Rochford and Associates we know you've worked hard to earn your money and you've worked even harder to save it. When it comes to wealth management and Planning for retirement, J.R. rochford and his team of specialists have been helping individuals, families and business owners find financial freedom at their veteran owned firm for more than 25 years. Give us a call now at 623-523-0444. That's 623-523-0444.
[00:28:00] Speaker B: Remember, all of JR and Anthony's listeners.
[00:28:02] Speaker A: Receive a free financial consultation just for listening to the show.
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[00:28:09] Speaker A: Thanks for listening to Another Money show and subscribing wherever you listen to podcasts.
[00:28:14] Speaker B: Welcome back to Another Money Show. Thank you so much for being with us. We greatly appreciate it. As we always say, we're a little tiny fish in a big pond and we do need your help. We want to be a second an opinion to you. We want to be a resource. If you have questions, if you're working with somebody, we'd be honored to brainstorm with you on what questions to ask your advisor. And you know, we, we understand how it works. We're not poachers, but a lot of times we see products but not a plan. And we kind of pride ourselves on putting together a lifelong plan and not just selling products. So let's get into scams for a second. I've got an article here. I've been sitting on this one for quite a while. It's from zero hedge on March 20of 2025 and it's called how to Defend against the Latest Financial Scams. Technology has made financial transactions as easy as pressing a button on your phone. You can send or request money through mobile apps in seconds. And you can open new accounts like credit cards, personal loans, and even mortgages entirely online. But while technology has made financial transactions simpler, it has also opened the door for through which your money can flow into the wrong hands. And that door is guarded by sophisticated scammers and fraudsters. In fact, Americans lost a record $10 billion to fraud in 2023 alone, according to the latest data by the FTC, the Federal Trade Commission. And as we approach the finish line of tax season, scammers are racing to capture unsuspecting victims. More than 2.4 million people in the US have been targeted by IRS impersonators, according to Equifax, and that has resulted in a loss of 72.8 million. The US Treasury Inspector General for Tax Administration has called these operations the largest, most pervasive impersonation scam in the history of the irs. However, there are a few steps you can take to avoid all kinds of money scams. Let's read a couple of them and see if it helps even just one person.
Yeah, I mean, some of these are pretty obvious. Create a strong password. Set your phone to automated automatic updates. Use Multi Factor Authentication. Backup data. Use security software. See here. I'm going to read the bottom line. It says here, to avoid money scams, never give away sensitive information like your passwords, PIN numbers and Social Security number, even if the person asking for it seems legitimate. Instead, go directly to the source and see if there's any real need for action. You can also protect yourself online by creating strong passwords, regularly updating your devices, and setting Multi Factor authentication on your accounts. Is any of that new? I don't think so, but it's probably a good reminder. I did listen to Arizona treasurer Kimberly Yee. She did a presentation for a veterans group I attend, and so I got to hear her talking about finances. About a month ago, she gave out sheets. One of them was seven smart tips to prevent financial fraud. 1. Do not give your credit card number to anyone you don't know.
Well, that seems pretty straightforward. Number two, you would think, yes, it must happen. Number two, never click on an email link. Verify the sender is legitimate before opening. Don't automatically. This is. Number three. Don't automatically agree to update a computer program, especially when it comes through an email. Number four, never use a debit card when paying for items or services online or over the phone. I bet that's a biggie. I think debit cards, people find it much easier. You just, you debit, it goes right out of your account. You're Done. You don't have to pay your credit card bill every month. So I think number four is a biggie. And I've always been told, like, if you buy gas with a card of the pump, never, ever use your debit card case, there's a skimmer. Always use your credit card.
[00:32:27] Speaker C: Number five, never smart, because if they access to your debit card, they've already taken the money out of your account. At least the credit card company acts as a buffer. They've taken credit, they have not taken your money. So I'm very big on using a credit card more often than not.
[00:32:43] Speaker B: Well, nowadays, these credit cards, you get mileage, you get points, you get cash back. I mean, there's, there's some incentive to go through the hassle factor of using them.
Number five, never share your password with anyone you don't know or trust implicitly.
Number six, consider preventing, Consider preventing identity theft by using an identity theft protection product.
And you know, speaking of that, I use one through Zander Insurance and they have mortgage fraud, like the title fraud. They have that as part of it now. So I get a, I get a report once a month that shows no activity on my, on my mortgage. So that's kind of cool. Let's see here. Number seven, never allow yourself to be pressured into signing, buying, or donating to something with which you are uncomfortable. And number eight, have two to three people who can advise you before giving anyone your financial information.
I would say you make one of those people. Anthony Correo at Rochford and Associates in Sun City.
So great advice if you, you know a lot of people in Sun City. I use Sun City a lot as a point of reference because I live in Sun City and for almost 30 years I have worked in Sun City and I know this to be fact. You know, a lot of times when somebody loses a spouse, they get lonely, they want to talk to people and, and if it, you know, they, they get caught up in it. During the break, Sam was talking about a woman. Where was it Sam that. That sent money to Keanu Reeves in a scam? Let me pull it back up. I think she was in the Bay Area, so in California, which makes sense. Did at least Kyoto Reeves, like, know send her a thank you note for the money?
I don't know if he did, but you gotta be, you gotta be on your toes at least a little bit out there. You can't let the fake Keanu get you.
Scammer. The reading the headline, Sam put up scammer pretending to be Keanu Reeves. Bil Bil's Bay Area woman out of $160,000. I mean, how in the heck. 160 grand?
Woman from the Bay Area. That's a condo. Like move to Arizona. We need all the Californians to move to Arizona. You buy a condo. Oh, that's a good picture of Keanu Reeve. I'd send him money too. That looks like the real, real Keanu Reeves though. I'd rather send him money.
So why don't we do this? Let's move on from the frauds and scams because I guess, you know, you needed the reminder potentially. But we all know, we all know they're out there. We all know it's going to get worse.
Anthony and I have talked lately a lot about deep fakes and AI and you know, the, the morality of its implementation. And unfortunately I think a lot of it's going to be negative for things like scams. So moving on to another article that I got from Anthony this week.
This is from the BBC News. I take it it's out of the UK?
Denmark. Oh, I'm sorry. On BBC News on 5, 22, 25.
Denmark to raise retirement age to highest in Europe.
Denmark is set to have the highest retirement age in Europe after its parliament adopted a law raising it to 70 by 2040. This is only 2025. So, okay, tell me what you're going to do in 15 years. Denmark. Like I care. Moving down. Thomas Jensen, a 47 year old roofer, told Danish media that the change was unreasonable. We're working and working and working, but we can't keep going. He said, oh dude, Thomas at 47, wait till you're in your 60s. It gets worse. So in this article, you know, I mean, there's no shock here. Let's see. Retirement ages around Europe vary. Many governments have raised the retirement age in recent years to reflect longer life expectancy and to tackle budget deficits.
That's what I want to key into because our country, although not in the European Union, is in deep trouble. So are we living longer? Yes. I mean, during COVID did that shift back a little bit? Yes, the way we eat the processed food. Glad Kennedy's involved. You know, I mean we should be living shorter and shorter. The obesity problem, the diabetes. But anyway, so in general we're living longer. But tackle budget deficits. We, we are absolutely broke. If the big beautiful bill can start fixing Medicare, Medicaid and Social Security. Okay, I don't think it can.
How do you fix spending by more spending. So I, and I've been sounding the alarm for 20 years.
The way they're going to fix Social Security is they're not. They're going to wait until it tips. They're going to wait until the Ponzi scheme runs dry.
You do have some unemployment issues in this country. You've got a lot of people working multiple jobs just to get by.
The costs of goods and services are astronomical. There's a lot of issues.
So, and you know, we're getting to see it, at least right now we're talking about it a little more. But I've said for 20 years, how it ends is a three prong approach.
Number one, they're going to raise the age. They're going to raise the age across the board. Right now you can draw your Social Security at 62. You're, if you're working especially, you're better off to wait to your full retirement age, which is, you know, in the range of 67.
You can wait till you're 70 and get extra money and then it's maxed out. That's going to go away. I think it's going to go away. If we make it with our dollar and don't go to the central bank digital currency, I think it's going to go away in the next few years. We don't have till 20, 34 or whatever. You know, they always give the numbers that we have.
The system is breaking underneath us. So they're going to raise the age. It's not going to be enough.
So unfortunately, Sam and Anthony, younger workers, they're going to have to pay more into it. You know, right now you're paying, what is it, 6.25% out of your check goes to Social Security.
And then your employer pays the other 6.2%. If you're lucky enough to, you know, if you're lucky enough to have an employer, it's not gonna be enough. So instead of 6%, they're gonna have to raise it to like 12, just on your side. And then the grand entity that affects my people in Sun City, they're gonna have to reduce benefit. Anthony and I have talked numerous times over the last three years on the show. They're looking at 25% cut on Social Security that you're getting now.
If they do all of those things at the same time, the shock to our system is going to be noticeable. The other thing, we have clients of all different walks of life. We have never been big seminar guys just looking for the couples to come in. You have to have done the heavy lifting. You've got at least 250,000 for us to talk to you. We've never bought demographics lists, just on physicians and attorneys. We, we help people that need help. And so as a byproduct of that, we have people on a true fixed income that have a little pension, thank goodness, or that just have Social Security or accommodation. And then we have wealthy people and we have everywhere in between. And I can tell you right now, the wealthy people, it's going to affect all of us. We have changes coming that are going to affect all of us. But the people on a true fixed income, when you look at the price of goods and services, when you look at the cost of gas, when you look at how hard it is to get into a doctor, and then you look at your insurance and donut holes and part A and part B and supplements and advantage plans, they're going to raise all those. It gets very, very tough now. Just wait until that system changes. I don't know what they're going to do.
I've had a handful of people over the years that, you know, years ago, my father and I were on an appointment in a man's house. I think I've brought this up on the show before. We were in a man's house, went to see him, and we were worried about him with his money. And I was this probably wrong of me, but I, when he was out of the room, got up and I opened his pantry. I was just curious because a couple signs were weird. I opened his pantry and I opened his refrigerator. The guy had pet food in his pantry, but he doesn't have a pet. And I was like, oh, my gosh, this guy. It's cheaper to buy and probably not anymore. Good job, Chewy and petsmart. Pets are more expensive than people now.
To me, it was absolutely shocking. And I said something to my father, you know, while we're still in the house, and it changed the direction of our conversation a little bit. And we were a little bit more pointed with him. The. It turned out it was not my imagination. The guy was eating pet food because it was too expensive by food. But this is going back years and years ago. So it was more of an isolated in, you know, it was more isolated. I don't want that to become more normal. If you have to make a choice between food and medicines, that is a problem in the richest country ever, ever made. So we'll. We'll see what happens. I just, I know inflation, this money printing, it's. None of it's good.
So back to our government.
Here's an article I found interesting this week on the 27th of May from Zero Hedge NPR.
That's National Public Radio, if you're not familiar, Sues Trump over order cutting federal funding. I'm sure you've heard in the past, you know, a lot of people have questioned why are some of my tax dollars going to NPR Radio. You know, it's, it's definitely slanted. I don't care what they say about its, you know, it's definitely not political. Come on, listen to it for one day and then tell me it doesn't have an agenda. So let's see here. President Donald Trump's order cutting funding for the media outlets violates the U.S. constitution.
NPR said in a lawsuit filed on May 27 the order violates the First Amendment's protection of expression. The suit says the First Amendment is very important to me. I've made that clear to people.
Next to the Second Amendment, I think it's my favorite one and the most important one. But I can tell you something, this First Amendment, you npr, say whatever you want, but don't use my tax dollars to do it. I also don't want to fund tax dollars into a Fox News Channel either. I think the media should stand on its own feet, not on mine.
So Trump's May 1 order directed the corporation of a nonprofit established by Congress in 1967 to oversee taxpayer funded broadcasters to end direct funding for NPR and the Public Broadcasting Service or pbs.
The order says that no outlets have a constitutional right to public money and that neither outlet presents a fair, accurate or unbiased port portrayal of current events to tax paying citizens. That's despite the law establishing the corporation saying the entity cannot contribute to or otherwise support any political party, Trump wrote. Last thing I'll read from this article.
Marr said in a statement that we stand for constitutional rights of free press and informed public and we filed today on their behalf. So I agree with those things, but I just my taxpayer money can't go to fund you. The plaintiffs are asking the court to declare the order and all actions taken to implement it illegal and unconstitutional, along with an order that permanently bars defendants from implementing the order. So NPR is suing to keep getting our tax dollars.
I think the reason this article piqued my interest a little bit is because a lot of the buzz in the world right now is on our country stuff with Israel, Palestine, Hamas, the schools. You know, Trump is fighting to stop taxpayer funding to Ivy League schools. How on earth are our tax dollars going to Yale, Harvard? Harvard is the one that's really under fire right now. What on earth. You know, these schools, they have benefactors, they have donors, they have pricey tuition schedules. Did you even know that some of your tax dollars were going to Harvard University?
You know, when your kid is going to, you know, GCC or Scottsdale or whatever community college, did you know that your tax dollars are going to somebody else's kid who's here from India at Harvard? I don't know. It's just, I'm old. I know. Get off my lawn. I just think my tax dollars should go to try to help me. I really wish the tax dollars for a change would start helping the middle class. Let the rich do their thing. You know, we'll keep supporting the poor. You know, the poor, we have benefits for people that truly need it. But the middle class has been abused for so long, you know, the last couple years, we don't worry about npr, we don't worry about Harvard. All of our money went to Ukraine.
So. But I just find it shocking that, you know, ever since Doge, ever since Elon Musk, we're learning that our money goes every single where it possibly can other than beefing up our Medicare, Medicaid, Social Security, our lower taxes, all the things that I would like to see us have.
Why don't we go back to the banks for a quick second here? I'm kind of out of order with my articles. My apologies, but let me get to the banks. So here is an article from Payments. I don't know what this. It's online, it's P Y M N T S. And this is from May 15. US regulators reportedly scaling back bank capital requirements.
So as I mentioned earlier, if you check fdic.gov and you dig in, we'll help you find it. If you reach out to us, they have 1.3% coverage on your money. That makes you feel all warm and fuzzy. The government is about to relax the regulations. This has got to be a joke. So given the state of the world. This is one man's opinion from this article. Given the state of the world, there are all kinds of risks out there, including for US Banks, the role of the dollar and the direction of the economy. It doesn't sound like the right time to relax capital standards at all, says Nicholas Verone, senior fellow at the Peterson Institute for International Economics. He told the Financial News Time. I am always trying to get a couple sources when I read something like that. So here's another one.
This One is from May 19th from the Daily Hodl Trump administration to slash Banking rules designed to prevent a 2008 style collapse.
The US government is reportedly gathering up to announce a rollback in banking regulations that will provide financial institutions with looser capital requirements. I'm telling you, we're going, we're heading rapidly towards another 2008 type situation. If you're not following along with the world, it's the bond market this time, it's not the collateralized mortgage obligations, the collateralized debt obligations, the mortgage backed secures, you know, from the big short. It's not the houses this time, it's not the liar loans and the junk baloney mortgages this time, it's the whole entire bond market. And then when we find out the emperor has no clothes, we're going to realize, you know, derivatives and things that are way too big for us to understand that it's, it's all a house of cards. So be ready. Pay down debt, understand insurance products, understand lifetime income, which is, is also income you can never outlive. You know, if you have CDs or mutual funds or stocks or bonds when you're in retirement and you're, you're using the money that you worked for your lifetime to gather and it runs out, if it runs out before you do, you're out of money.
We have solutions for you that you can put the same kind of money into and they're leveraged and they can help you have it. Where if you're getting a thousand bucks a month and you're supposed to die at 82 according to the mortality tables, but you live till 92, you still keep getting your thousand a month. We don't know if it's a good fit for you until we explain it to you and we dig into it with you and we brainstorm with you. But I can tell you what all of the stuff that I think is coming and, and nothing has proven me wrong. Like I need to switch gears and say it's going to be all right now.
We have solutions to it. You know, we have always told you within moderation, you should have gold and silver. My favorite precious metal has always been lead. I think you should have guns and ammo. I think the way this country ends, and I'm sad to say this to you, but if you know me, you already know this. I think we're on the verge of civil war. I think when you pick pit people against each other, gay versus straight, black versus white, haves versus the have nots, red versus blue, I think inevitably something's going to give. What would be the trigger? What would be the caveat for civil war. It's probably going to be when hyperinflation sets in and I can't, I lose my job and I can't afford food, I'm going to get real sketchy. I'm talking, not me necessarily, but our country as a whole. And I think there's so many things that are a powder keg. So we will see.
Do I need to read anything else on this? No, I don't. Let me go to another article that, you know, here's somebody that, you know, I admire so, so heavily that also agrees with me. Here's an article if you want to look it up. Just, you know, go back to April 2nd on Zero Hedge. Alec Baldwin. Isn't that the guy that shot somebody? But you know, he probably didn't. And he did. And then he didn't. Alec Baldwin says the Quiet part out Loud As Democrats become more unhinged, as the Democratic Party spirals into disarray, polling in free fall, far left activists firebombing Tesla showrooms and vehicles, and USAID funds cut for its sprawling NGO network used for domestic color revolution operations, struggling actor Alex Baldwin has openly said the question quiet part out loud. You can see now this is Alec talking. You can see now that we are in a pre Civil War culture. Baldwin's comments merely reflect the rudderless Democratic Party and its back against the wall, growing increasingly desperate by the day and its rogue political machine. Billionaire funded falls apart with US Aid funding eliminated DOGE uncovering fraud involving Social Security numbers handed out to migrants like candy, which by the way allegedly allows migrants to vote in elections and other Marxist aligned anti American programs that were in place to undermine the nation.
I highlighted a whole bunch of this. But the bottom line is some people agree with me that this doesn't end well. We fight. Why would the government spend $21 trillion, if that is in fact true, to build an underground city? Because when we start the next civil war, they can get underground and be immune from it. If you're a billionaire, you're probably going to be okay. If you have nothing, unfortunately, you're going to be part of the problem. Because when you have nothing, you have nothing to lose. And I just think that things are very, on the surface, everything seems so normal. You go to work, you go home, you go to church, you go out to eat, you do all your things. I, I think behind the scenes things are going the wrong way. And do I hope I'm wrong 100%?
Am I looking forward to societal unrest? I am not I have a little place out of the city. I want to be away from people. I've done everything I can within my means to deal with it if it happens. If not, I have a nice little place to get away to on the weekends, here or there and relax.
I just, you know, my, my bottom line, make sure you keep listening to us every week. If we think it's imminent that you need to get to the bank because first come, first serve and pull your money, you're more likely to hear it here than anywhere else. You know, actually, make sure you listen to Joe Jaquint on our sister Salem Station, 10:10am you know, reach out to us. We'll tell you how to find him. You know, I think you ought to make sure you're prepared and not scared.
I think you should make sure you're proactive and not reactive.
So with that said, I know I have not a ray of sunshine today. I don't feel well and I probably am a little more negative than usual.
Is that possible, Anthony?
[00:53:49] Speaker C: I don't know. But you sure are trying.
[00:53:51] Speaker B: I am trying. I'm very trying, especially to you and my family. Can you imagine what it's like living with me?
[00:53:58] Speaker C: I have. It's awful.
[00:54:00] Speaker B: It's awful. I agree. I live with myself and I'm none too happy about it. Why don't you end the show so I don't spew any more negativity?
[00:54:08] Speaker C: That is the most positive thing you've said all show.
Anyways, that's it for today. If you like what you heard, you have questions about any of the topics today or want to sit down with us to review your personal financial situation, you can reach us at team anothermoneyshow.com you send us an email there.
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So for now we are out. But we'll see you again next Saturday on 9th the Patriot 5am and at noon.
[00:55:21] Speaker A: Thanks for listening to another money show. You deserve to work with a private wealth management firm that will strategically work to protect your hard earned assets. To schedule your free no obligation consultation, visit anothermoneyshow.com investment advisory services offered through Brookstone Capital Management, LLC, BCM, a registered investment advisor. BCM and Rochford Financial are independent of 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.
