[00:00:00] Speaker A: Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.
[00:00:15] Speaker B: This is another money show. Get set for another hour of the latest financial information and economic news affecting your bottom line. J.R. and Anthony are committed to helping more Americans like you optimize their income, reduce their tax risk and reach financial freed.
So let's start the show. Here are your hosts, Anthony Correo and Junior Rochford.
[00:00:38] Speaker C: Here we are, your hosts, Anthony Correjo and Junior 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, Arizona. What is it that we're doing? Why are we taking that break?
[00:00:56] Speaker D: You stuff they don't hear on other shows and so forth. J.R. go ahead and take
[00:01:00] Speaker C: over. So good. You nailed it.
[00:01:01] Speaker D: Yeah, yeah, so. And usually when I bring you stuff you're not hearing on the other shows, then Anthony gives me a bunch of crap about it. He's like, why do you think the world's ending? I'm like, I don't think the world's ending. I think it's going to go on forever. I just think it's going to suck in your future. I won't be here, so I'm not worried about it. So anyway, let's officially start the show today as we record is November 12th.
So hopefully yesterday on the 11th, you had a good Veterans Day. It's weird when people say happy Veterans Day because I don't, I mean, you know, hot dogs and mattress sales and I don't know if it's like a happy holiday. I mean, you know, there's a lot of veterans that, that, you know, I mean, when you look at the, the PTSD stuff, a lot of what you hear burn pits, you know, Agent Orange. We've lost Anthony. Even in the eight and a half years that you've been around. You know, Chuck, one of our clients, Chuck, we've lost people to Agent Orange. So I don't know, it's just weird when people say happy Veterans Day. I. And the, the, when people say thank you for your service, you know, what do you, what do you say? I mean, if I'm wearing my, you know, Desert Storm hat, somebody says thank you for your service, I just say thank you. Thank you. I mean, I don't know what else to say. But anyway, hopefully it was good.
[00:02:11] Speaker C: I think you're welcome is the response to a thank you,
[00:02:14] Speaker D: you're welcome. I don't know. I think thank you is better because it's like, thank you for thanking me. And then they send me a thank you card. And then I. I don't know. I don't know. But you're right. Probably you're welcome. You're. That's good. You're welcome or thank you. I'm going to pick either one. I'm going to switch off. I'm going to alternate my response greetings and see which one gets more favorable results.
My father used to thank
[00:02:32] Speaker C: you for thanking me for thanking you for thanking me. So thank you.
[00:02:36] Speaker D: And then 20 minutes later, I didn't get my PTSD meeting. So my father used to, when. When people would come in and they never really had a financial plan, they just had financial products. He used to have a catchy little phrase. He would say that we're going to reposition your assets for a more favorable result.
And I used to think, well, that's pretty slick. So basically, you're going to move stuff around to get paid. I used to make fun of my dad. I was like, there's. There's words in the industry like churning. And I'm. I'm being funny because my father was very honest. Honest to a fault. If he wasn't sure if something was good for a potential client, he didn't do it. So I love that. I think that that's shows you have a good heart. So. And that's how Anthony and I run the practice, too, by the way. If we're not sure it's good for you, we're not going to do it. So, anyway, and Sam, good point. Sam put on the board that it's better than people wouldn't say. You know, people say happy Memorial Day. Yeah, that should never be said. I mean, I'm sure most of our listeners know this, but Veterans Day celebrates those who are still with us and have served, so. And Memorial Day celebrates those it recognizes, those that did not, that are no longer with us. It's in memory of those troops. So, yeah, that's not a happy day. I mean, you wouldn't know that if you watch TV because you can buy a new Buick, you know, at like, you know, 20% below cost. It's a mattress sale day according to the tv. So. And by the way, you know, when I brought up a couple of weeks ago that Lowe's is already in their Black Friday mode, I've seen a couple others. Walmart. Walmart's one of them. So you can Amazon. I got an email, I got a personal email from Amazon. I doubt anybody else got it, but it invited me to start getting Black Friday sales now. So now Amazon has prime days and now we're going to add Black Friday days too, starting, you know, like three weeks before Black Friday Friday. So thanks, Amazon.
[00:04:21] Speaker C: So I put two solar generators in my Amazon cart to buy and I was like, ah, do I do it? Because I was shopping around. I, you know, I don't, I still don't know a ton about them, but I was like, these are probably. They were equal about the same.
Go to buy them the next day. And they skyrocketed in price. So I'm excited for the Black Friday sale where they drop it down to what I could have bought it for a day before.
[00:04:47] Speaker D: Nice. Keep it in your cart and watch that. And by the way, I mean, two solar generators. What are you worried about, Anthony? What, what's that about? What do you need solar generators about? We've had a, we've had a black plague. We've had a market correction, we've had a Black Monday. What do you. Anyway, let's get into
[00:05:03] Speaker C: this. I have it, then I don't have to worry about it,
[00:05:06] Speaker D: right? If you haven't, you don't need it. So what? But if you need it, you don't have it. You have a problem. You're a good little boy scout. Why don't we officially get into the show now? This has been nice. This is like when you and Sam have done the show without me, like two guys talking, like a podcast. But I'm ready for my doom and gloom to set in. So let me, let me knock out the shout outs real quick.
One thing, I'm going to do this every week. I'm going to shout this out every week. Thank you so much to Joe, Jason, Jack, Patriot Radio News Hour. I mean, they're having me on every Monday. So if you get a chance, I'm on 10, 10am every Monday.
It comes out a day or two later on their podcasts. So if you ever want to hear what I have to say. Last Monday was the most I've ever gotten to say. So I think how I want to work Mondays because Joe always brings me in the conversation when he wants me in. I'm going to ask him if I can have a little segment where I talk about whatever I want to talk about.
I want to start taking over the show. That's what I'M getting at here. Hopefully Joe is not listening to this show because what I want to do is I want to start running the show my way on Mondays. But anyway, so if you've listened, a couple of you have reached out. Our client Kevin, apparently he's heard the show Jason. We've got a friend named Jason. Jason was in the office yesterday. Shout out to him, thank you so much. He gave my youngest son Jay a few parts for his vehicle. So thank you so much, Jason. But Jason apparently heard me on Joe show.
So anyway, so if you want me to ever send you one of those shows, if you want to know more details, let me know. I'll be glad to help you out. We had our West Valley networking meeting this week. Great turnout, super fun. Several clients there.
So thank you so much for supporting us with that. And it's really, I mean, it's, you know, when you hear the word networking, there's no dues, there's no speakers. We're not bni. You don't have to be exclusive with anybody there. It's just fun. So if you're looking for an excuse to leave work at 3:45 instead of 4:45, you know, on a second Tuesday of the month, come and join us. Thon does a great job. They have really good food. The, the prices are decent. The beer prices are, are great. Happy hour specials. I mean, it's, it's fun. So it was good. Yeah.
[00:07:14] Speaker C: Kyle's incredible for handling that big of a group.
[00:07:17] Speaker D: It is. And look at him, he doesn't even look that bright.
Kyle doesn't listen to the show, so I'm going to work with that. I'm going to send him this one though. No, I love Kyle. I mean, I've really, I really, you know, I mean he's, he's a little bit of a smart alec, but he's super smart. He numbers people and we had, I don't know, Anthony, I didn't count, but probably 40 plus people this week. It was good turnout and he doesn't mess up the bills. He seems to just keep it all online. Does a great job. Nobody goes too long without, you know, getting his attention. And if you have one server for like 40 people, and I would say roughly half are eating something.
Yeah, he's done a great job. So shout out to Kyle. Shout out to Throne. Thank you for having us. We've been there for several years now and they've done a great job. So come meet us if you're listening and you haven't met us yet. Come meet us in a casual setting. We'll let you do a 30 second commercial if you want to, but you don't have to. So come meet us. It's the second Tuesday of every month at 4 o' clock and we would love to see you, we'd love to meet you, we'd love to hang out with you. And if you have a good time, you can come back. So one of our clients, Kevin was missing this week. Kevin, we always miss you when you're not there. But yeah, Kevin, Kevin's doing well. I saw Kevin yesterday.
One more shout out real quick if that's okay. We Salem Media has extended to us the offer to help them. So we are a sponsor for a promotion they're doing. It's called the Christmas Mortgage Miracle Sweepstakes.
I think Sam said I should call it the TCMMS to make it a little easier on people. But anyway, if you go to the Salem's website, you know, we'll figure out a way so we can put out some information on our YouTube channel. But we're, we're a sponsor for that. So it's a contest and you can enter between now and I believe it's December 20th and it might not cover your entire mortgage but it'll give you a little chunk towards it. So let us know if you want details. Give us a call and we will explain that sweepstakes to you. Or just go on the website for the Patriot or Salem and you can find it.
Moving on.
We are. Let's get into the show like for real now, Anthony, for I'm serious now. For real. So debt ceiling. We're about to hit the debt ceiling. Everybody's talking about politics and still Iran and we're about to. The debt ceiling. So Anthony, do you think they're going to raise the debt ceiling or do you think this is it? This is really it.
And
[00:09:41] Speaker C: I would be pleasantly surprised if they did not. But you know, if we can vote on one of those share app things is it Kelsey, where you get to vote on or bet on things happening? I am willing to bet a hundred percent that they're going to raise the debt ceiling.
[00:09:59] Speaker D: They always have. They have numerous times since you've been in the industry and they have every time since I've been in. So I'm guessing you are correct. But the last shutdown was pretty long. Started with like park rangers. You know, people had no problem stealing picks when they
[00:10:12] Speaker C: pretend like they're not going to raise the debt ceiling and then they inconvenience a Bunch of federal workers for a long time and then they do it anyways.
[00:10:20] Speaker D: That's, that's you, you, you got it, Yogi. That's what they do. And it's funny because last time was more serious, it was longer than usual. It started getting to the airports. Remember when the wait time started going up at the airports?
I think the one and only Sam Davis's airport in Atlanta was one of the ones I read about, had some problems. So look at. What is that? When will the debt limit be reached? I think there's a cap of 500 billion. I don't know. I don't know. I was reading all about it.
[00:10:47] Speaker C: Oh, it's funny. You really can bet on it.
[00:10:49] Speaker E: This looks like they're assuming it's going to be increased. It's just a matter of when. Before October 1, 2027 or before October or July 1, 2027.
So it seems like it's inevitable. It's just a matter of when.
[00:11:06] Speaker D: Yes, and I am excited about it so. And I'm not going to spend a lot of time on this but let's, let's move on from the desk because I mean, I guess who cares? I just think, you know, we are still a financial based show even though we're not a, you know, 60 minute infomercial. We're actually on current events and how they're likely to affect your future and your finances and your kids and your grandkids and all that.
Let's talk for a second about what really is important in finances. You know, we have been shouting to you the entire four and a half years that we're on. We've been shouting to you that something is wrong, something is amiss. The financial markets, I believe they are rigged from the very get go for example. And it's way it's been for the almost 30 years I've been in the job. The Dow Jones Industrial Average, one of the main benchmarks, it's 30 companies and let's say one of the main stay companies forever in this world, Walgreens underperforms, they take them out and put in Amazon. I mean it's rigged to begin with 30 companies. So then if you want a more realistic indicator on our society, our world, our country, you go to the s and P500, the NASDAQ, the Russell 2000, well, the S&P500, which I would dare say is the main benchmark for your 401k, you know, Dave Ramsey, you know, buy a good S and P growth fund and you're done.
And Dave Ramsey, I don't think he's a financial advisor. I think he's more of an author and a speaker and stuff. But Anyway, S&P 500 has been floated by less than 10 stocks for the last 10 years.
So 1 of the things I've been saying and I've been telling people, it just, you know, we're at a 17 and a half year run up in the financial markets. That's since March 9th of 09, the bottom of the 2008 correction. And it just doesn't make sense. We have 40 trillion in debt. We're getting close to the 41 trillion debt, believe it or not. I think we're at $40,600,000,000. Almost $700,000,000,000. Those numbers don't mean anything. You want to
[00:13:08] Speaker C: talk about how one of those stocks that's carrying the S and P is down?
[00:13:11] Speaker D: Not yet. Which one? Wait, which I do? Which one?
[00:13:13] Speaker C: What about the Chinese operative?
[00:13:15] Speaker D: That's where I'm going with this. Don't do that to me, Anthony. Anthony just totally rained on my parade.
So, yeah, so you're saying get to the point is basically because you knew where I was going with this. You know, years ago we introduced you to the term fang. The markets were being supported by Facebook, Apple, Netflix, Google. That has morphed into only chip companies. You know, if you want to see what's going on in the world, look at intel, which by the way, as a US citizen, you are part ownership because our government owns intel stock. How does that work? I'm not sure yet. I want voting rights, by the way, since I'm part owner in Intel. So tms, Taiwan Semiconductor in Phoenix, another big player. So. But the granddaddy, the company that started in 1993, the company by Jensen, is it Wang I'm not very proficient in, I guess I don't know if it's Taiwanese, whatever, but it's spelled H U A N G. So is that pronounced Wong or Wang? I think for our purposes we're going to say Wang because I'm not positive. But anyway, so Jensen Wang started this company. He's a multi, multi, multi billionaire. Big dog. Big dog. So, so he, he is under scrutiny. Let me, let me read you what I read last night. And boy, how fast things change. Nvidia. And this is just AI. This is just my little, you know, personal assistance on my cellular device. Nvidia CEO Jensen Wang is under scrutiny after admitting to an affair with Alice Wang. Same last name, but they're not from Alabama.
That was wrong. So I Don't think they're related. But anyway, Alice Wang, a Chinese tech executive suspected by US Intelligence of spying for Beijing. You can't make this stuff up. There's got to be a Netflix special going right now. So anyway, it sounds like I'm excited about this, doesn't it? Because I am. So anyway. Has triggered multiple investigations and calls for his removal. Nvidia's board is preparing to oust him following these revelations and a second alleged affair with a Nvidia executive.
So, you know, I know that you shouldn't be sleeping with your coworkers. I know that. And apparently Wang is married without a prenup, so he might lose, I don't know, a couple hundred billion dollars or something if that chick wakes up. So apparently she doesn't have a prenup. He doesn't have a prenup. But so yesterday, as I'm preparing for the show and I think I've got to address this, it's financial, it's interesting, it's current events. I'm like, okay, so he, he was sleeping with Fang Fang or whatever, like Eric Swalwell's, you know, and he gets caught and. But they're going to keep him on the board, like, no harm, no foul. We're, we're competing with China for the AI race, for the chip race. We're giving these chips to China. China's already here. By the way. Do you remember the balloons? Do either. You remember when a couple space balloons, you know, went across the country and we didn't even shoot them down? Do you remember that? Another money show read a couple articles to you in the last couple of years about how Chinese, they're putting like spying and tracking devices on our solar panels and, you know, maybe, you know, the China, the bio labs in California or maybe some Chinese money. Anyway, so apparently they were going to keep him on the board. Well, that changed. And this morning they got him out.
He's officially going to be off the board. He's the CEO and he's going to be ousted as of today.
So. And Again, today is the 12th of November. It's a Thursday, as we record.
So I looked at a couple things. One, I looked at the stock price.
I was just curious about the stock price. And if you look at, it's up and I'm looking at a five year period because I think you have to take kind of a longer view on how things are going. It is down today, year to date. It's down a little bit. It's down like 13% or whatever. In the last year, but it's up in five years by 449%.
So the stock has done okay. And I got that from Yahoo Finance. I didn't make the numbers up, although nobody would really call me out on it, I don't think, except Kevin if I did. But anyway, so it's up 450, let's say percent in the last five years.
So the whole thing with this guy going where I tie this into what I find interesting, the market for the last at least the four and a half years we've been on this show has been priced to where you, you better have absolute perfection around you. You better not have commercial real estate having a problem. You better not have any problem with people's personal credit card debt. You know, mortgages.
Everything in the financial markets have to be just so to keep them up. You know, I'm always looking for a black swan event.
Well, this could be it. I mean we already seen, saw, we've seen or we saw some cracks in the whole robotics flock, cameras, data center, AI world. Over the last three weeks we've had some very serious volatility in all of the major index indices.
So this news might, might, I don't know, lead to more discovery with the company.
And if we find out that Nvidia, if the Chinese are taking the chips and Nvidia is just a pawn in the global game, the global race for AI. This could take down the entire financial market, will it? Probably not. Anthony's probably right. The debt can go to 100 trillion. Just number these stocks will keep going because who cares? I don't know anyway, but I found that just absolutely huge news and a week from now it'll be, it'll be old news. So I just wanted to address it and I'm sure you know we're recording on a Thursday. You're hearing this on a podcast Friday afternoon or on the radio Saturday. So that'll be old news in a day or two. It's like Sam, we probably need to start recording on Saturday mornings so it can air on Saturday morning because things are going so fast and furious. Switching gears a little bit from Nvidia and the shenanigans over there.
Home sales, you too, Anthony and Sam may have read about this because you're very well read and all that. Home sales plummet to lowest level since the great recession. Home sales fell in October and September was real bad. But October was worse apparently. So Home sales fell in October to a 16 year low as buyers bolted from the housing market in the face of 7% mortgage rates. We had one of our good realtor friends, we had several realtors on Tuesday. We had our buddy John. I'll call him John. So John was there. He's. He's great Realtor. We had a woman named Courtney. I mean, if you're going to buy or sell a house, if that's. If you're in the market, we have some really good realtors. Anyway, so. And I talked to Courtney for a minute, and she said, yeah, she said that the rates are in the seven range. And it's just. It's hard. You know, there's always a needle in a haystack. If you're not in a hurry to find a deal, you still probably can in this market. But part of the problem with this housing market, when you have a starter home going for about $400,000 or more, that's one thing. Most young families can't really afford that. And then you add 7% interest, that. That's problematic. So wherever there are problems, there are solutions. I like to bring up the problems. And I was going to say Anthony brings up the solutions. But this time it's Anthony's neighbor Alex brought up the solution.
So he sends something that I find genius. The fastest way to lower housing prices in America would be to add a comment section to Zillow. Alex, if you're listening, this is so funny. So on Zillow, if they add a comment section, somebody could put, oh, you bought this house in 2021 for $287,000 at 2.5% interest. You did zero renovations, and now you want 450,000 because you painted the kitchen cabinets gray, let the Internet bully the housing market back into reality. I mean, that's genius. So thank you, Alex. That's. That's pretty cool.
So, speaking of the government, I read something funny. I have a news source that I'm not sure if a lot of people know about it, but it's called Facebook.
So one thing I read that made me kind of crack up, I thought about Anthony because when we used to talk about Chase, Chase, JP Morgan Chase, Jamie Dimon, remember that company? So, you know, Anthony used to be kind of tickled, Anthony, that they had felonies like a bank had felonies for their shenanigans. But Anthony used to think it was funny because when the banks would get slapped, whether it was Chase or Wells or B of A or any other one, they would monitor themselves. They would bring in people internally to make sure they didn't do those shenanigans again. So this tickled me. Sometimes I worry that the government is up to no good. But then the government is investigated by the government and the government says the government is actually fine.
So it's fine.
I love that.
So let me. And I'm just, I'm kind of going through some of these things that are quick and then I'll get to a few articles.
I'm gonna, I'm gonna say a name that nobody would ever name their child. A guy named Thad reached out to me yesterday and he asked me, Let me, let me see what his text said because he, he texted and he said, did your bank issue you a new bank card?
Funny. My bank, and I'm not going to put the name but one of his family members both and Thad is with a bank and the relative is with a credit union sent us new cards.
His old card doesn't work now. I haven't checked mine yet. Did they get hacked? New cards needed for a new system that is coming. So that it was interesting to him. So he reached out to me and I went right away and checked the mail and I don't have anything. I don't have a new card. But this guy that I'll call fad the next text he sent me a picture of the letter he received with a new card and the back of it. And he said, I just looked at the back. Easy way to pay.
Set it up with your digital wallet and you won't have to have any paper to put in your real wallet. So basically he got a new card.
I researched a little bit last night, but this is kind of late last night so I didn't have a lot of time to dig into it. I can't find anything. If you're listening, that scares me yet. But I did look at the back of, you know, the picture you sent and there's a new term to me that I was not familiar with and this bank, I'm going to name the bank, it's JP Morgan Chase. This is from Chase. There's a thing called pays P A Z E and I had not heard of that before so I went ahead and it's showing you that there's all these convenience ways to, to hook up your money with Chase. There's Apple Pay, Google Pay, Samsung Pay, and now there's pays. So I read the disclaimer under payze and payes is P A Z E.
Paz is a digital wallet offered by Chase and other participating banks. Your credit and debit cards will be included in PAYS as they become eligible.
At the moment, not all cards are eligible. If you don't want Chase Cars enrolled in Pays, contact us through the secure message center or by calling and it gave an 800 number. You can always opt out of Pays anytime once your card is enrolled. So just reading that quick little disclaimer, it sounds to me like you, if you have a Chase look at the back of your card or you know, go online and read about it, it looks like we're going to be automatically enrolled in this pays. So because it's saying there you can opt out with secure messenger 800 number. So everything's going so fast.
Normally I don't know that I would really, I don't know that I would really be concerned by what Thad sent me other than everything seems to be changing. And I even said that, you know, some of the stuff goes live in January of 27.
I, I, I found one article I, I want to hit up real quick. Oh, Sam. Saying I don't have much time. Let me get to the article right after the breakdown. Is that okay?
Let's do this. Let's take a quick break.
We'd love to be a second opinion if you'd like to sit down with us on your finances. We still think you're in time to be proactive and not reactive. So reach out to us if you would at 623-523-0444. We know minimums. We're fully independent, veteran owned. I mean, we check the right boxes. You know, we're not going to charge you to sit down with you. So come see us. Anthony says all the time we don't have any minimums. So a lot of times people that have less wealth need our help more than those with more. So come see us. You can also email
[email protected] check out our YouTube channel.
We're starting to get some traction. We've got, what, 560,000 views on our videos and shorts and we now have, what is it, 770something subscribers. So we're slowly growing. I used to say we're nipping at the heels of Joe Rogan, but you know, we need your help. We need you to come check us out. We will be right back. Thank you so much for being with us.
[00:26:45] Speaker B: You're listening to another money show. To learn more and contact JR and Anthony, visit anothermoneyshow.com.
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 helping individuals, families and business owners find financial freedom at their veteran owned firm for more than 25 years. Rochfort and Associates also helps Americans like you with their insurance needs and estate planning so you can be protected from life's uncertainties with a comprehensive retirement plan. Let us help you protect and grow what you've worked so hard for. Take the next step toward financial freedom now by scheduling your free no obligation consultation so JR and his team can come to understand you and your family's specific needs, concerns and financial goals. Give us a call now at 623-523-0444. That's 623-523-0444. Rochford and Associates, lasting solutions for your family, your future, your life.
Welcome back to Another Money Show. To schedule your free no obligation consultation with JR and Anthony, visit anothermoneyshow.com or call 623-523-0444.
[00:28:14] Speaker D: Welcome back to Another Money Show. Thank you so much for being with us. As you know, we greatly appreciate it. We're a small, independent, fourth generation, fully independent family office and we love that you guys are helping us where you're helping us stay afloat and we're slowly growing. So we love your help. Thank you. So the reason that I was, you know what, you know, you all, you've been listening for a while. You know that I'm scattered and I have ADD and OCD and ESPN and all these things. So one more thing about Veterans Day, somebody sent me something that I should have read and I was remiss. So you know who you are that you sent this to me. I won't name your name, so. Or I can make a fake name. Your name is Mike. So Mike sent me this.
No one has. And he, he asked me to read it on the show. So that's, that's why I feel bad that I missed it. No one has been able to explain to me why young men and women who serve in the US military for 20 years, risking their lives, protecting freedom, will only get 50% of their base pay.
While politicians hold their political positions in safe confines of the Capitol, protected by these same men and women and receive full pay retirement after serving only one term.
That's kind of a good point.
It kind of sums up, I mean, right, if you're a Congress person or Senate or whatever, and you're making 275 grand, don't you get like some secret Service, protection, and don't you get your salary for life? But if you're a veteran, you don't.
And, you know, I mean, Anthony, it's been a long time since I brought this up. I'll give the condensed version. I am not a fan when I'm accidentally watching TV and commercials come my way. The biggest one is the Wounded Warrior. Bless you, Sam. I know you sneezed. I know you muted yourself, but I could see it. So bless you, my son. So I am not a fan when I see the Wounded Warrior commercials. There's a couple other organizations, but that one just gets to me, and I'm gonna tell you why. You know, I am a veteran. I wasn't drafted. I raised my hand voluntarily. I think I have a little bit of a right to say this, because I did serve. When I see those commercials, I get so angry. I used to read that a lot of the money that was donated to Wounded Warrior went to administrative and to things that didn't direct directly help the people that were wounded in battle. So that bothered me. But what really bothers me is in it really frost me if we're in the military. I don't know, Sam, what you probably can look this up as I'm ranting. What is the percentage of this country that goes in the military? Is it 1 or 2%?
I learned from Rick Kreiberg, one of my very favorite military people on the planet, I learned that there's about a half a million veterans in Arizona. So that's not a lot of people when you think about the numbers. And we are a very veteran, you know, heavy state. And there's only 500,000 roughly of us in the state. Anyway, back to Wounded Warrior. If the government who stays in their safe confines are willing to send us to anywhere, Afghanistan, Iran, Iraq, whatever, and an IED takes away one of your legs and they send you home.
You need to take care of people. You need to do. There should be no passing the hat. Wounded Warrior. To me, I looked at it like passing hat. I looked at it like a GoFundMe account. If our government has money for, you know, Israel, that area for Iran, for the billions and billions we gave to Ukraine, and yet people to get the proper care they need, need wounded warriors. Something's wrong. So that organization, although I like what they do, what gets to the veterans, it should not exist.
Sam put here ever served. Roughly 6% of U.S. adults are military veterans. That's actually more than I thought. Says here Currently Serv, approximately 0.4% of the total US population is active duty. The sources that Sam cited were U.S. census Bureau, veteran Status, Bureau of Labor statistics, veteran report, USA facts, military personnel, 2026. So Sam does his research very nicely. Anyway, so that's, yeah, 6%. That's more than I thought. So that's why if you want a free meal on Veterans Day, there's a long line to get into your local Chili's.
So. And by the way, yesterday, Sandy and I, we, we, the only thing we got for free is we got a cup of coffee. I won't name the location because I'm not usually a fan of theirs, but anyway, we did get a free coffee yesterday for Veterans Day. I'm not about to go and wait in line at a Denny's or whoever gives away stuff.
Let's get back to what I was doing before the break because it was actually kind of important. The reason that Thad sending me something stopped me and made me, you know, everything's coming so fast. I think as soon as January there might be changes in our financial structure. I know maybe it's, it's going to be delayed again because of the midterms. There was such a change politically that I don't know what's going to happen.
But I read something on the 10th of November. I'm always looking for new terms. I want to bring you, if you're a listener to us, I want to bring you new terms that you're not hearing elsewhere and then you can take the time to see if it's concerning or not. I don't have time to dig into these too deep. But anyway, from Investing.com on the 10th of November, Goldman Citi joined global banks in $270 million stablecoin venture.
Investing.com, let's see here. A consortium of global lenders including Goldman Sachs, Citigroup, Banco Santander and Deutsche bank have committed approximately 270 million to fund a joint stablecoin venture, Bloomberg reported, citing people familiar with the matter. The capital commitment is designed to finance the first five years of operation for the planned US Incorporated issuer, which is currently operating under the internal codename Project Faro or Pharaoh. So if you want to dig into this further than I have time to do today, look up Project Faro or Faro. Faro.
So I don't know. The injection formalizes an ambitious initiative detailed in September by 21 international institutions seeking to counter crypto native incumbents through an institutional grade digital settlement. Assets Participants are currently conducting an executive search for a chief executive officer to steer the entity toward a targeted commercial rollout in the first half of 2027. I know that there's a CEO who's going to have some free time as of today.
So if you want Wang to come over and run the show over at Project Pharo, I think he's free.
So yeah, this is interesting.
Got more things here from this article. While the venture initially aims to issue a dollar pegged token, the consortium plans to subsequently expand issuance into other G7 currencies, prioritizing a euro offering.
We've told you, the government came out and told you, we talked about the Genius act, the stable value. We talked about this. They're going to peg the new currency to the dollar. The dollar, the fiat currency is dead. It's been pegged. It's dead. It's, it's we. But I'm telling you what's coming is the fiat currency is going to change and I think that's as soon as 2027. So get ready. Let's see here. The project is intended to serve wholesale institution and retail markets, streamlining across cross border transactions and digital asset settlements under the established regulatory frameworks including the US Genius act and Europe's Mica. So what this is to summarize what I'm reading here.
We are going to have two financial systems in the near future. I think it starts as early as January, which is only what, six weeks away or something. And then over the next week, years and decades, it will replace all of the fiat currencies. And it looks like it boils down to this, which is us, the US working with other nations like the European nations and the other side, the other side of the coin, pardon the pun, will be the BRICS nations.
So who comes out on top? I don't know. I mean how this plays out, I don't know.
Last thing I'll read here, Project Pharaoh or Pharaoh, I don't know how you say. This builds on exploratory work initiated in late 2025 by a founding group of 10 lenders seeking reserve backed solutions on public distributed ledgers. The consortium has been broadened in its geographic footprint to span North America, Europe, East Asia, the Middle east and Africa, drawing participation from institutions such as bank of America, ubs, Fidelity Investments and Wells Fargo.
So we each week now we bring you these stories about how, you know, we brought you, I don't know, 3 month ago US bank you probably some of you that are listening bank there, U.S. bank, they have their own stablecoin. Now the U.S. bank BDC or whatever it was I have all these articles saved, so I can look it up if you want me to. It's just. It's coming at you fast and furious. So. And. And what bothers me, what was it two weeks ago, Binance had a $6.3 billion hack.
We're going digital. But digital is so easy to hack. The whole thing with AI that can solve infinite the unsolvable problems.
Once you have digital currency, it's. If somebody wants to shut you down, they can. And that scares me. You know what you can't hack? The $20 bill in my wallet, the gold in my safe, the food in my cupboard. Those things can't be. You can break in and steal them, I guess, you know, I guess they can be hacked. I'm just saying some AI in North Korea can't push a button and hack my wallet. And I'm talking my wallet in my back pocket, not my digital wallet, where everything's going.
So what we missed last Thursday, after we got done recording, a whole bunch of banks, a whole bunch of banks had some problems we should have talked about. One of them, Paraguay.
Paraguay. I knew last Wednesday night had. Had seized up people's money. Let me. Let me read you something here real quick. But it has since gotten way worse and I can't find it on the news.
Let me read some here quickly. Reports are coming in and this is a week ago, mind you. Reports are coming in of a major bank theft and breaches across at least 15 countries. How have we not heard this? Sam? Anthony. It doesn't make sense. Japan, a company in yamagata, lost over 912 million yen, which is equivalent to roughly $6.1 million to fake bank calls. Joint investigation with Vietnam, several arrests. Taiwan. In one day, about 1.3 million was drained from 419 Bank Sinopac customers who hadn't logged in.
South Korea, 37 financial firms hit roughly in a month, about 473,000 records leaked. Over 580 companies are now in review. Indonesia, Bank Jambi lost 8.8 million. Indonesia, let's see here. Over 6,609 accounts. France, which is still kind of a mess. Credit much. Shell, I don't know. Confirmed a cyber attack with losses in the 133 million range.
Similar cases in Vietnam, Nepal, Singapore, Malaysia, Sri Lanka, New Zealand, Canada, Mexico, Brazil and the U.S.
dallas indictments involving SIM swaps and insiders target accounts holding over 373 million.
Most of these are separate incidences. Let's see here. Let's move on. Japan, Paraguay.
Paraguay. And again this is a week old.
Just got hit with its biggest banking crisis in years. The central bank stepped in and froze Ueno bank after its solvency ratio collapsed below half the legal minimum. Roughly 3 million customers had their accounts, apps, cards all shut down.
Do I go any further with this? Paraguay. Paraguay.
[00:41:10] Speaker C: So those banks are require a minimum and ours don't. Is that what I got from that?
[00:41:15] Speaker D: We have no money in our banks. We've been shouting this. We've been shouting about the Dodd Frank regulation in 2010. We've been shouting about bail ins. We have been nothing but lucky in this country.
I'll read one. I've got pages and pages of this stuff but I know I have to condense it. Let me read one thing that I find interesting.
This is somebody's opinion.
Call me crazy, but maybe the fact that 3 million people in Paraguay just lost their salaries, pensions and savings while every American news network spent the last 48 hours hyper focused on election night way no bank. 60% of all adults in the country accounts locked app dead branches guided by guarded by police. Central banks stepped in after the solvency ratio cratered below half the legal minimum. State pension funds exposed for hundreds of millions. Depositor locked out overnight and almost nobody in the US media is talking about it.
Then I go further and I read there's a global war on cash. Canada Laurentian bank to close all retail bank branches tomorrow which would have been last I believe Friday Laurentian bank delists after 180 years.
Let's see here. Completes transactions 7.
Seven countries at one time had hacks. Belgium, European Central Bank France, Japan. Let's. Let's go into Japan for just a quick second. My son Nick is stationed in Japan so I reached out to him right away and let him know what I was reading. Let's just read a couple headlines here about Japan. This is all within the last week. So this and you should be hearing about this, but you're not.
Major banking disruption in Japan. A wake up call for the world.
Imagine waking up one morning and suddenly discovering you can't access your own money. That's exactly the kind of nightmare that unfolded in Japan after a massive system failure crippled banking services at 128 financial institutions impacting approximately 3430 branches.
ATMs stopped working, cash withdrawals and deposits were disrupted and online banking services went dark.
So I won't get in this. I've got about seven pages on this major system failure if you want to look into it. It's Shinkin Banks 128S H I N K I n banks across western Japan leaving customers unavailable, blah blah blah. So this is crazy and I just, I want you to have a glimpse into your future because as soon as we go digital, which I think is coming at us fast, don't be surprised if it happens here. Actually we probably, you know, the government's going to save you, you know, we're going to have a bail in in this country. And I've been, I've been screaming for 20 years that the banks have no money. You do realize we run our banks on a fractional reserve system. Most people know that. Most people know simple things. They know the Federal Reserve is private banks, it's not federal and they have no reserves. Most people know that. Most people know that our banks, when we give them money they can do whatever they want with it. Derivatives, mortgage backed securities. We learned that in the hard way in 2008. We had a little snag in the world in 2008 with the banks, the government who's, you know, the people that are 40/something trillion in debt. The government tells the banks you have to keep some money in reserves in case there's a bank run, in case there's a run on the banks, which you know, could feasibly happen even without anybody going to the bank because now we can just do everything on our phone or our laptop. So the government tells the banks you have to keep somebody in reserves. Well in March of 2020 because of the unusual circumstances of COVID the government said dah, you don't need to keep any money in reserves.
Let that sink in. If you don't know this, you need to. So don't what I'm getting at, don't keep too much money in the banks, don't keep extra money in the banks. I've not given direct advice to somebody listening because you have to sit with us and we'll talk about how much to keep in the banks versus how much to keep in cash versus how much debt to pay down versus how much other financial assets you can consider. But I, I just, I'm saying to you if something is going to pop off and when it does, I would rather our people were prepared and not scared, proactive, not reactive. So anyway, In March of 2020 the government told the banks you can make that percentage zero. Every dollar that goes in the bank you can lend out, you can use for whatever you want. And they've never put it back. And by the way, before March of 2020 it was at about 10% reserve requirement. So it didn't make me feel that warm and fuzzy anyway, which is why I dug into what happened around the world with bail ins for banks. But anyway, you need to familiarize yourself with the fact that the banks have no money. You have to make sure you look up the term bail in two words. B A I l second word in you need to look at what's going on. You need to make your way over to fdic.gov do a couple of keystrokes, go into the go to the search bar and look up statistics at a glance. Then you want to look at their quarterly numbers. Then you want to look at the spreadsheet in the lower left hand corner and look up depositor insurance fund, which currently has roughly 1.43% coverage.
I can't say this enough to people. If you're listening and you don't know this, I'll show you how to find it.
You think because you have less than $250,000 in your account that you're safe because you have insurance. I just want you to know that that insurance fund covers roughly 1 1/2% of all of our assets in the banks. So act accordingly. And it's not that much higher from what I can find at credit unions. So don't tell me you left the banks and went to the credit union so you're safer. Because you're really not.
Oh, that was a fun little, little side exercise. Why don't we let's get back to the end of the world though. So you're going to lose all your money, but that's not the end of the world.
I think with everything as weird as it is with politics, we need to address a few things. I won't go political on this. I'll go current events on this. I read something yesterday, just yesterday, that kind of caught my attention. It was from a publication called the Gateway Pundit.
It says here armed anti ICE protesters camp outside a main facility that's the state Maine, and threaten if they want to start a firefight. I will return fire. This is in the state of Maine currently.
I'll just read a couple lines of this and then I'll send this to you. If you wish. Armed protesters have set up a near daily presence outside the Immigration and Customs Enforcement facility in Scarborough, Maine. The agency has already had to increase security after six vandalism incidents in three months. That's not too bad. Only two a month. That's not bad. Video and photos from the scene show individuals in tactical gear and fatigues marked not a cop standing with Long guns and abolish ICE banners near the building. Amid unverified reports of an increased Ike's presence in Scarborough, several protesters have posted up outside the ICE facility with ars.
This cruel, chaotic and out of control agency needs to be abolished and we need ICE out of Maine, period.
A protester who goes by K and asked not to be fully identified out of fear for her safety has been openly carrying a camo AR15 outside of the Scarborough Ice Facility for weeks.
If they want to start a firefight, I will return fire. She said. Her hands rested on the handle of her weapon. This is a civil war.
Two other protesters have open carry. Let's see here. Cam covering their face. They're all covering their face. They have camo based layers.
One of them said maybe one day 100 people can show up with AR15s. In her ideal world, there would be thousands of people mobilizing to the facility to physically force ICE out.
My thing is, I think over the next couple years because of political shift, this country could be a powder keg. I thought it for 20 years, just slowly more and more close. I think we're getting to potential missteps. So I find that interesting.
By the way, the people like K and other people there, a lot of what I have dug into. You don't want ICE to be masked up. You want ICE to be where people can see them if they're not doing anything wrong. Why are you hiding? And yet you're covering your faces and you're hiding. Hypocritical much so. And I'm really, I mean, you know, whatever side you stand on, I don't care. I mean, pick what you think is coming in this country and what you want. I read this morning that 43% of people under 25 years of age approve of Sharia law. So that, that stopped me in my tracks. I mean, I'm good if that's what you want. I mean, whatever future you want, vote, bring it in, make changes.
I will tell you some of the changes. You better be careful what you wish for.
I'll tell you about two real quick.
Here's one. I got this. I actually read this on 960 the Patriot Daybreak Insider yesterday the 11th of November. I get their daily newsletter and every day there's articles that I could reference, but they're usually political so I'm careful. But here's one. This is one day one of the new Texas 35 gun bills bill filing open on Monday for the first Texas legislator out of the Democratic era and the gun agenda arrived by the truckload. Texas Democrats are gearing up for a full court legislative push when they control the state House. Part of their agenda involves a barrage of efforts to restrict gun rights. The session convenes on January 12, 2027, with Democrats holding the governorship, the lieutenant governorship and the House. The NRA's lobbying arm reported that Democrats submitted 35 firearm related bills on the first day.
The filings run from the under 21 assault weapon ban to red flag orders that would reverse the Abbott law signed last year. So my, my thing is there are certain things that I am not willing to compromise on. One is the Second Amendment. The second Amendment, the government doesn't give me the right to, to bear arms. The second Amendment says those are God given rights. And in this country, I was born with those rights. And they keep the government away from those rights.
So if, if you believe in your rights, which seem to be eroding or they, they, a lot of people want them to erode. Good luck and God blessed you because it scares me. Let me, let me, let me. As long as I'm on that daybreak from yesterday, let me give you one more. Here's one more for you.
Let's see here. That was quick. The caravans are already moving. No law has changed, no executive order has been signed and no Democrat has taken a gavel yet. The election returns were signal enough. The Democratic blue wave appears to have encouraged some migrants and to undertake a risky journey to the US because here we go again. Remember the four years of this happening? So the hope for an easier passage to the United States was especially palatable this week among a pair of migrant caravans bound from Honduras and El Salvador. One traveler explained the logic. Trump is on his way out in these elections. That's why we're taking the risk. The border does not wait for Inauguration Day. It responds to incentives and the incentive just changed. So, I don't know, I mean, Anthony and I have side conversations once in a while about laws and about changes and about borders and I'm not going to be here. I'm in my 60s. Sam, you and Anthony are going to be here. I hope things go the right way, where you're safe and happy and healthy. And Sam, you can walk outside and the grass is growing and the sun is shining and everything's good. Anthony, you can sun yourself and be in the nice heat and enjoy. I, I don't know. Anyway, I, I have so much to get to, but I. Apparently we're out of time, so reach out to us and and if you just want to come in in the office and sit down with me and we're brainstorming how to fix all the world's problems, I'm. I'm can't wait.
[00:53:50] Speaker C: I guess that's it for today's show. If you like what you heard, you have any questions, the topics, you can reach us@team anothermoney show.com find us on the web anothermoneyshow.com or rochfordfinancial.com give us a call 623-523-0444. That number again is 623-523-0444.
We will see you again next Saturday at 5am and noon right here on 960 the Patriot.
[00:54:22] Speaker B: Thanks for listening to another money show. You deserve to work with a private wealth management firm that will strike 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 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.
[00:55:01] Speaker C: Hi, I'm Anthony Carayo, co host of another Money show airing on 960, the Patriots Saturdays at noon and partner of Rochford and Associates in Sun City. If you've heard our show, you know it's more news based and how current events could affect your finances versus an hour long infomercial. Well now it's time for the for that infomercial. But I don't need an hour each week to tell you what I can say in 60 seconds. The key to a happy retirement is income, income, income, income. Clients with low assets and those with high assets all have one thing in common, a fear of running out. Assets come and go. Income is forever. Self funding pensions is the key to a happy retirement and we can help you do it. Reach out to us at 623 502-30444. That number again is 623-523-0444. Or find us on the web at anothermoneyshow.com and let us help you not worry about your retirement.
