The Price of Global Conflict and Government Spending

[00:00:00] Speaker A: Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy. [00:00:18] Speaker B: This is another Money Show. Get set for another hour of the latest financial information and economic news affecting your bottom line. J.R. and Anthony are committed to helping more Americans like you optimize their inc. Reduce their tax risk and reach financial freedom. So let's start the show. Here are your hosts, Anthony Correjo and JR Rochford. [00:00:42] Speaker C: Here we are, your hosts, Anthony Correo and JR Rochford taking a break from our day to day as financial advisors with Rochford and Associates, a fully independent fourth generation family office right here in the greater Phoenix area to bring you information you may not find on those other financial radio shows. We're aware the last thing you need is another money show, but we appreciate you being here. [00:01:03] Speaker D: We do. And today Anthony is a bit under the weather, so in light of his sickies, I will do most of the talking. [00:01:11] Speaker C: Thank you for really taking one for the team for me. I appreciate that. [00:01:14] Speaker D: So I do hope you feel better. I know that sucks. I mean I. I still think it's geoengineering, I think it's chemtrails. And by the way, I sent in a couple articles to your mom this week on that. So she thinks I'm crazy, which there's multitudes of reasons why and I get that, I even think I'm crazy. But I'm not crazy about the government [00:01:32] Speaker E: modifying the weather so. [00:01:34] Speaker D: And will they eventually use it as warfare? Of course they will. I mean that's the bottom line. But the state of Florida is in the process of legally banning chemtrail stuff. They're banning these jets from spraying the air. Now there's a federal bill, but I sent the articles to her because my question is if I'm wrong and there are no chemtrails and the government isn't using HAARP and all these programs, then why would they have to ban them? I mean I just throwing it out there. If it's not real, you don't have to get rid of it now do you? [00:02:04] Speaker E: Oh, Anthony, did you get tickets to [00:02:06] Speaker D: Metallica in the Sphere? I saw that was on calendar. [00:02:09] Speaker C: I did not. We had the pre sale. I couldn't log in. My buddy tried to but I heard they were absolutely insanely priced so probably weren't going anyways. [00:02:19] Speaker D: And One of my friends went on and it was a five hour wait and then he got disconnected from getting tickets. So I guess it's popular. So let's, let's jump into the show as usual. I know I said it last week, I'm going to say it again this week. I don't think I've ever had this much to cover. I'll start out with the shout outs as usual. We got a really nice phone call this week, so I want to point it out. Scott from Carefree, if you're listening, thank you. That message was good. He basically says he identifies with me, not you, so I like that. But he, you know, when I ask people if they want us to renew, he said yes. And just his kind words were cool. I know you're across town, Scott, and I know we're not convenient, but if you ever want to meet, give us a little notice. [00:03:03] Speaker E: We'll even come to you. [00:03:04] Speaker D: We will go to Carefree to sit down with you if that's something that helps you. So thank you so much for the message. You, you actually made my day a couple days ago. Michael C. Thank you for the articles this week. I'm definitely going to cover what you sent me this week. And one last thing. We had our West Valley men's networking meeting. We meet the second Tuesday of every month at Throne Brewery on 67th Avenue [00:03:28] Speaker E: just north of Bell Road. [00:03:30] Speaker D: So come join us. We had a couple new people. We had a couple of my old neighbors. We had a guy named John and Justin, and it was nice to see them. They're not regular attendees, but when they're there, it's cool. My youngest son, Jay, joined us for the first time. It's weird to be in a pub with my son. It's hard to believe that he's of legal age. So anyway, it was a wonderful time. Thank you. If you joined us, Kyle, the guy that takes care of us, he's. He's really, really funny. Dry sense of humor, but he's good. I mean, people walk in, he knows [00:04:00] Speaker E: what they drink, if they're regulars. [00:04:02] Speaker D: And so anyway, if you want more information, we'd love to meet you. That's a casual way to do it if you'd like. Let's get right into things. I want to start out a little bit financially today. I have said for a long time the average person, average, if you're listening to us, obviously you're above average. But, but, you know, bear with me on this. The average person in this country, if their 401k, their IRA their brokerage account, their stocks, bonds, mutual funds, ETFs, etc. If those are steady or going up, life is good. Combine that with your gas prices. [00:04:40] Speaker E: If those are steady or going down, life is good. [00:04:45] Speaker D: I have said for a long time, and I know this to be true, what I say, because when I used [00:04:49] Speaker E: to do a lot of securities, my [00:04:51] Speaker D: thing was mutual funds. I was never smart enough to be a stockbroker. I mean, it's hard for me to pick out matching socks, not going to try to pick your stocks out anyway. So I liked mutual funds because I thought the diversification, I thought the, you know, the way to get a bunch of holdings for lower cost. I just thought it was a good idea. I combined that with safe products and we did well. We seemed to have lower fees, less risk, and still good growth. [00:05:16] Speaker E: So anyway, what I learned, if we [00:05:19] Speaker D: had two years, let's say, where there [00:05:22] Speaker E: wasn't much downside in the market, Janet, [00:05:24] Speaker D: the office manager would call people every single quarter. You know, good that you know we're still there. Good for us to know you're still there. [00:05:31] Speaker E: And they wouldn't have questions. [00:05:33] Speaker D: I don't think a lot of people even open their statements. And I've always said, next to your health, your money is probably the second most important thing you have to deal with on this plane. So, but nobody had questions. She would offer an appointment. Do you want to meet? Do you want to sit down? [00:05:46] Speaker E: Do you want to review? [00:05:47] Speaker D: Nothing. But you get one down quarter. And all of a sudden everybody wanted to come in, they wanted to talk. It's just, it's, it's amazing. So I, right now, watching the world around me, it seems to me like the volatility is ramping up in the financial markets. You know, I, I've educated you. If you listen to this show, the Dow Jones Industrial Average, one of the main benchmarks, it's only 30 companies, so it's fairly easy to manipulate. So, but unfortunately, when a few of those companies go down, that, that, that can go fast. You know, money goes up a lot slower than it goes down. We are in a going down phase. So, Anthony, after eight years in the office, maybe you're finally going to see some volatility. Maybe you're going to see a 2008 or a 2000 or a 2000 and 2008 combined. [00:06:39] Speaker E: We shall see. [00:06:40] Speaker D: You know, I don't think you think it exists. We'll say, don't shake your head like that. [00:06:45] Speaker E: You know I'm right. [00:06:46] Speaker D: I'm always right. It's you're just early. Remember, it's early. I mean, I'll tell you what, but I'm just. I'm watching the gas prices that jumped another 5 cents last night. Today, by the way, is the 12th of March. As we record, it's a Thursday. Tomorrow is Friday the 13th, so obviously I will not be leaving my house. So, shoot. [00:07:08] Speaker E: I mean, what. [00:07:09] Speaker D: What else could go wrong in this world or this country? I. I guess Friday the 13th doesn't matter anyway. I just want you to be very aware of things. Our modus operandi has always been to protect and grow your money, in that order. We think if you don't have 20, 30, 40% downturns in your portfolio, it's easier to make more money over the years. So that, that is our focus. We want to protect and grow. We understand inflation, we understand the fear of missing out. If all of your friends are making 8%, you're making four, you're going to have issue with that. So we're very aware of how we juggle things. I do want to tell you, in 2008, a lot of people got stuck when people were down 10, 15%. My father and I were trying to sit down with people. We were trying to tell them, we don't know how bad this is going to get. We're just not sure it's over. [00:08:03] Speaker E: We tried to catch them. In other words, once you get to about 20% down psychologically, then it becomes [00:08:10] Speaker D: more difficult for you to protect your portfolio. I understand how that works. You don't want to make a mistake, so you don't know how bad it's going to get, but you're like, well, now I'll just wait. Well, I mean, the end of 07 through the beginning of 09, you had to wait quite a while. And if that happens again, we want [00:08:27] Speaker E: to do what my dad and I [00:08:29] Speaker D: did in 2008 and in 2000, we want to help you sooner than later, if possible. You know, we do have financial products. You know that they offer bonuses. It's a teaser. There's no such thing as free money. But let's say your account is down 10% right now and you want to safeguard things because you think the world could get sketchy, sketchier, or you think Tomorrow's Friday the 13th and that's scary. If you're down 10%, some of the safer products we have have an upfront bonus of, say, 10%. We get you back to even, and then in the future you have good upside with no downside risk. [00:09:07] Speaker E: We want to explain those things to you. If it's a good fit for you, [00:09:11] Speaker D: we're going to ask you to come with us. [00:09:12] Speaker E: If it's not a good fit, we're not going to try to twist your arm. So I would say right now the [00:09:19] Speaker D: best thing to do is to understand a lot of things are going wrong at one time. You know when Anthony says we've had a world war, we've had a plague, we've had all that stuff. And I've said over the years, we've never had them all at once. My thing is dominoes. If a domino falls, no big deal. Will pick it up. If two or three falls, no big deal, we'll pick it up. [00:09:38] Speaker E: If 10 fall, we got problems. [00:09:40] Speaker D: And that, that's what it seems like [00:09:42] Speaker E: we could be heading toward. [00:09:43] Speaker D: But we'll see, yet to be seen. I think you should, especially if you're a lot of money. If you don't have much money, you don't have to worry about this so much. It's like when we talk about the banks. If you don't have a lot of money in the banks, you shouldn't worry about a bail in. You shouldn't worry about a bank holiday. You know, Dodd Frank regulation of 2010, that won't concern you. But you got 50 grand, 100 grand, 250 grand in the bank. You should. [00:10:05] Speaker E: So one of the things, if you have a lot of money, you may [00:10:08] Speaker D: want to watch out for. Right now these markets are uncertain. They're definitely on a down pattern. There's something called the plunge team. We haven't brought it up in a [00:10:18] Speaker E: while, but you need to understand that [00:10:21] Speaker D: the financial markets you count on for your retirement are rigged. Like The Dow having 30 companies, the S&P 500 being floated by 10 or less. You know, Nvidia was down 1% this morning. I saw that. You know, oh my gosh, we're all going to die if Nvidia and Oracle [00:10:35] Speaker E: and Cisco are down. [00:10:37] Speaker D: So the plunge team. This is the best example I can show you on how the markets are manipulated. Let's say the s and P500 goes up 20% tomorrow, Friday, 20%. [00:10:51] Speaker E: They will not stop it. [00:10:53] Speaker D: If it goes down 20% tomorrow, Friday, they will stop trading. They. I don't remember what it is, Anthony. Do you? Is it 8% or what is the. I think it's 7, 7%. So if the market goes down by 7% tomorrow, they're going to stop trading. I don't know, for like an hour. I, I haven't dusted off my Plunge Team manual in a while, but I need to. And then they open back up in an hour. If it happens again, they stop it again. I believe it's the third time in one day. They stop trading for the day. How is that a free, fair, open market? If they allow a limited upside but they throttle back the downside, there's no legitimacy. [00:11:32] Speaker C: Well, that is until the wrong people are winning. Because remember we talked about this during COVID with GameStop is how they put a limit to GameStop going up. And that's the first time I think historically we've ever seen them try to [00:11:45] Speaker D: stamp that down because it didn't suit their narrative. Janet Yellen, if you're listening, is that when you're giving speeches at, what is it, Cyprus or so. Yeah, I remember all that. It's just another example of how it's rigged. So thank you, Sam. Sam, put up the specifics. Key aspects of market triggers. Market wide circuit breakers in the US Equity markets. [00:12:06] Speaker E: These are designed to curb panic selling during extreme volatility. [00:12:11] Speaker D: Level 1, 7% drop. [00:12:13] Speaker E: They do a 15 minute trading halt. [00:12:15] Speaker D: Level 2, a 13% drop. [00:12:18] Speaker E: 15 minute trading halt. [00:12:20] Speaker D: Level 3, 20% drop. [00:12:22] Speaker E: Training trading hold. [00:12:25] Speaker D: I can't even talk right now. [00:12:26] Speaker E: Halted for the rest of the day. [00:12:28] Speaker D: So my question on this, and by the way, this has happened in history, there was one time where somebody made a error, they call it the fat fingers. [00:12:38] Speaker E: They keyed in the wrong number on [00:12:40] Speaker D: a cell and it plunged the markets. One sale plunged the markets and they stopped the trading. So it can even be human error caused. So back to what I think you should really do. Make sure you open your statements. Make sure you're aware and awake right now. Be nimble. Be ready to get help if you're not sure what to do yourself. If you have a 401k and you're at a workplace, don't just stick your money in the target date, you know, 2050 fun. And never look at it. You have to watch your money. Moving on. You know, part of why I talk about Domino's and I talk about what's going on. We've been on the air this month is four years now with another money show. We have never, ever missed a week. Christmas week, Easter week, it doesn't matter. We do a new show for you every week and I never run out of stuff to say. Our representative at Salem Media Group, Lisa, if you're listening, thank you for everything. So Lisa told us when we were new, if you don't have enough to Say it's going to be the longest hour of your life. If you have enough to say, it's [00:13:44] Speaker E: going to fly by. [00:13:45] Speaker D: Lisa, I will tell you something. Four years later, every single week has gone faster than the previous. So, yeah, we've got plenty to say. I watch the news. I watch the news every night. I watch videos. [00:13:58] Speaker E: I have certain people I like to [00:13:59] Speaker D: go to because I know they're really into things. Just this morning. [00:14:03] Speaker E: This morning. [00:14:04] Speaker D: You know, Anthony, it's. You can't leave your house without worrying [00:14:08] Speaker E: right now or you're asleep. [00:14:10] Speaker D: And I know you can't worry too much of this. I didn't understand what you said, but I'm sure it was relevant. [00:14:18] Speaker E: I. I mean, there was an active shooter this morning. Constance Hall, Old Dominion University in Norfolk, Virginia. [00:14:25] Speaker D: I don't know how many are dead. I don't know how it played out because I heard about it as I'm getting ready to do the show. Then a couple minutes later, I get a text alert. Temple Israel, West Bloomfield, Michigan. Another shooting. I don't know how it ended. This is all right. Before coming on the show. And I've been saying to you lately, as I ramp up my sense of urgency, if you're so inclined as to protect yourself and those around you and [00:14:50] Speaker E: your family, be armed right now. Be armed everywhere you go. [00:14:53] Speaker D: That's my suggestion to you. Oh, Jer, how's that financial advice? You know, if I keep you alive, you'll be more likely to get into retirement. So, I mean, and I'm not being funny when I say this, holy crap, [00:15:04] Speaker E: you don't know where you're safe. [00:15:05] Speaker D: So with these shootings. [00:15:07] Speaker E: And by the way, I. I've been [00:15:08] Speaker D: to West Bloomfield, Michigan. [00:15:10] Speaker E: I've been to Birmingham. [00:15:11] Speaker D: I've been to Pontiac. Pontiac is like Maryvale and Phoenix. West Bloomfield is like Scottsdale. [00:15:17] Speaker E: When I heard the snippet on the [00:15:19] Speaker D: story, they said there was a huge police presence. If it happened in Pontiac or in Detroit, it wouldn't be as shocking. But it happened in a very affluent area. So, yeah, there's going to be a big police presence. I also read this morning, haven't gotten to dig into this yet. Four military drones were stolen from Fort Campbell in Kentucky. That's scary. [00:15:43] Speaker E: Stryker, the medical company, is dealing with [00:15:46] Speaker D: a cyber attack right now. TSA came out again this morning and warned people that there could be a [00:15:52] Speaker E: four to five hour wait on average in major airports. [00:15:56] Speaker D: You know, we kind of forget the government is still in a government shutdown, for Pete's sake. [00:16:01] Speaker E: And, you know, What I heard. [00:16:02] Speaker D: I heard we're in a government shutdown because they don't want to fund dhs. They don't want to fund the Department of Homeland Security. [00:16:09] Speaker E: I also understand that department is funded. I believe it's through 2029. [00:16:15] Speaker D: So I don't know what you're thinking. I mean, the ICE agents are still on the street right now. [00:16:19] Speaker E: They're still working. [00:16:19] Speaker D: So the government shutdown is affecting your wait time at the airport, but it's not affecting ice. So I don't know what you're thinking. But you people in the government get your head out of your sand and start helping the country, if you ask me. [00:16:31] Speaker E: Let's see here. [00:16:31] Speaker D: Do I need any other current. And by the way, how did. How did. It's, like, shocking that we're having problems in this country. We don't make this political, just make this logistical. Please. [00:16:43] Speaker E: If you're listening, we had open borders for four years. We on another money show. [00:16:48] Speaker D: It's not surprising to us because we told you the effects of what we're seeing right now aren't going to be felt right away. You know, Anthony, you kind of downplayed some of our conversations about it. And I was like, well, we'll see. We'll see in the future how this plays out. I think you're seeing it now. I think you're starting to see. I think it might even get worse. So I will tell you, and I know. I know I'm the boy that cried wolf, but as Seth Leapson said, I don't like to name drop, but he was on our show a while back. He said, in the story of the boy that cried wolf, at the end of that story, the there really was a wolf. So I think in this country, it [00:17:21] Speaker E: might get worse before it gets better. [00:17:24] Speaker D: Apparently, there are some warnings in this country of domestic terror strikes. Let's see here. I printed off some. I'll just summarize for you. Apparently, there was some communication earlier this week, I believe, on Monday, that said that the government, the FBI or CIA or one of those agencies, they intercepted some chatter that there's been a call to action for sleeper cells to wake up. Anthony. Sam, have you heard this? And if not, please look into it, because this could be huge. Have you heard anything about that, Anthony? [00:18:00] Speaker C: Yep. [00:18:01] Speaker D: So, okay. [00:18:01] Speaker E: Are you worried? [00:18:02] Speaker C: Nope. [00:18:04] Speaker D: Is there anything that worries you? [00:18:06] Speaker C: Not really. [00:18:07] Speaker D: Okay, cool. So, I mean, this is. [00:18:10] Speaker C: Yeah, of. Of course. Like, we have spies, and probably every country in the world like to think that they don't have them in this country. Would be a little naive like of, of course there's people here from foreign [00:18:23] Speaker D: agencies like, okay, but what if they start rising up. [00:18:27] Speaker E: Let me, let me get to a [00:18:28] Speaker D: couple quick articles to illustrate my point. I'm glad you just talked for a second because it allowed me to drop down into my articles. Here's one from Newsmax. It's. Let's see here. [00:18:38] Speaker E: This is on the 9th of March. [00:18:40] Speaker D: So just couple days ago. US intercepts Iranian message that may activate sleeper cells US intelligence officials have intercepted [00:18:50] Speaker E: encrypted communications believed to have originated in Iran that could serve as an operational [00:18:57] Speaker D: trigger for sleeper cells operating abroad, according to federal alert issued to law enforcement agencies. Authorities emphasized that the alert does not identify a specific threat location. [00:19:11] Speaker E: It states there is no operational threat tied to a specific location, but urges law enforcement agencies to increase monitoring of [00:19:21] Speaker D: suspicious radio frequency activity. [00:19:24] Speaker E: If confirmed, the communications could reinforce concerns [00:19:29] Speaker D: raised by law enforcement officials following the US and Israeli strikes on Iran that sleeper cells positioned through the western countries [00:19:39] Speaker E: could be used in retaliatory attacks. [00:19:41] Speaker D: So that's good. So your local police, your local police, federal police, all of your police need to be watching and trying to protect us. I will go further and say if you're listening to us, if you're one of our friends, if you're one of our clients, if you're in our family, we want you to protect yourself. [00:19:59] Speaker E: If you're not sure that you should [00:20:01] Speaker D: go to a concert right now, like [00:20:03] Speaker E: Metallica, for example, the Sphere. [00:20:05] Speaker D: If you're not sure you should be in a large gathering of people for [00:20:09] Speaker E: a particular reason, maybe don't go with your gut. [00:20:12] Speaker D: If you're going out for dinner in a crowded place. I'm not saying don't go out for [00:20:17] Speaker E: dinner, but make sure you maybe conceal Carrie. [00:20:20] Speaker D: I don't know. [00:20:21] Speaker E: I don't want to get sticky into [00:20:22] Speaker D: the laws of things, but maybe look [00:20:24] Speaker E: for where the exits are. [00:20:26] Speaker D: Maybe watch for anything that seems weird. I mean, you know, I'm telling you [00:20:31] Speaker E: there's a reason police profile. [00:20:33] Speaker D: If somebody walks by you with a backpack and they don't belong in the [00:20:35] Speaker E: area and notice that stuff, just be awake, you know. We had a friend named Cat. [00:20:40] Speaker D: His real name apparently was Cat. And he used to train people on the OODA loop and how to sweep a house and just heavy duty, you know. He was into firearm training with no light and low light and all this stuff. [00:20:53] Speaker E: He said that you should always be [00:20:55] Speaker D: on yellow, which makes a lot of sense to me because I am always on yellow. Have been my whole life When I met him, I was like, oh, I thought everybody was. He's like, don't relax wherever you are. Don't be on red all the time. Don't, don't get yourself a heart attack. [00:21:08] Speaker E: But make sure you're, you're at least aware of your surroundings. So let's see here. [00:21:14] Speaker D: Here's another article that kind of points to this. This is from the Western Journal. Just. This is on the 11th. Yesterday, breaking news. FBI quietly warns California police of Iranian plans for retaliatory. Well, it's California, so we're not really worried about that. If it gets to Arizona, we'll be more worried. So the Federal Bureau of Investigation recently warned California law enforcement agencies regarding a [00:21:39] Speaker E: potential retaliatory drone attack from Iran related to Operation Epic Fury. [00:21:45] Speaker D: You know, do you do realize, right, today is only day 13. It hasn't even been two weeks yet [00:21:50] Speaker E: for Operation Desert Fury. [00:21:52] Speaker D: So under two weeks and the world has changed dramatically. Let's see here. The alert reviewed by ABC News said that Iran could begin launching attacks against [00:22:02] Speaker E: the west coast as revenge for the [00:22:05] Speaker D: US Strikes in the Middle East. They're certainly attacking boats right now. Five or six boats got blowed up yesterday. So if you're, if you're worried about your gas prices, hang in there because it's probably not going to get better anytime soon. Let's see here. We recently acquired information that as of early February 26, Iran allegedly aspired to [00:22:27] Speaker E: conduct a surprise attack using an unmanned [00:22:30] Speaker D: aerial vehicle from an unidentified vessel off [00:22:34] Speaker E: the coast of the United States homeland, [00:22:36] Speaker D: specifically against unspecified targets in California in the event that the US Conducted strikes against Iran. So they were ready for this before we attacked Iran. So they knew it was coming. According to the alert, which was sent [00:22:48] Speaker E: at the end of February, the news [00:22:50] Speaker D: also comes just days after the federal [00:22:52] Speaker E: government sent out similar alert to the [00:22:54] Speaker D: law enforcement agencies, blah, blah, blah. It was encrypted. Says here the transmission was encoded to be used by clandestine recipients who possess [00:23:05] Speaker E: the encryption key and to relay instructions [00:23:08] Speaker D: to covert operatives or sleeper assets without the use of the Internet or cellular networks. So I don't know, maybe they use throwaway phones, burner phones. So that's kind of scary because if there's lone wolf attacks around the country, I know there was a couple, a couple of boys in New York, they were out for a stroll and they, they threw bombs at Mandami protesters. I read that there's IEDs. They have to look for New York City. You know, New York just got downgraded by Moody's it's if you're in New [00:23:44] Speaker E: York right now and you're one of [00:23:45] Speaker D: our listeners, get the hell out. What are you thinking? So I know we're getting close to break time. Why don't we do this? Sam, is it okay if we just wrap it up, take a break, come back and do the Festivus Report? I don't know how close we are, but if you want to reach us, if you want to meet us, if you want a second opinion on your finances, we would love to help. This show that we do for you is not a 60 minute infomercial. [00:24:12] Speaker E: This is a show on current events [00:24:14] Speaker D: and how they are likely to affect [00:24:16] Speaker E: your finances, your future, your kids, your grandkids. [00:24:19] Speaker D: You. If you're in Sun City, I always thought you're gonna have to worry about [00:24:24] Speaker E: your kids and your grandkids and your greats. [00:24:26] Speaker D: No, you have to worry about it because it's all changing so fast. [00:24:30] Speaker E: And I'm talking about Main street stuff. [00:24:32] Speaker D: Medicare, Medicaid, Social Security, health care, politics, [00:24:35] Speaker E: borders, you name it. [00:24:36] Speaker D: But now you have to worry about [00:24:38] Speaker E: drone attacks in this country. [00:24:40] Speaker D: So have at it. We would love to meet you. We would love your show ideas. We still want you to tell us if we should renew. I think it's in the next few weeks that we're going to be asked if we're staying or going. So I think we have to stay right now because the world the way it is. But we still want to hear from you, so let us know. With that said, oh, please help us [00:24:58] Speaker E: on the YouTube channel. If you've ever been on YouTube, you [00:25:02] Speaker D: know how this works. [00:25:03] Speaker E: People rely on you liking, subscribing, sharing. [00:25:06] Speaker D: We're asking for your help. We have under 700 followers, but we have almost a half of a million [00:25:13] Speaker E: views on our videos and our shorts. [00:25:16] Speaker D: You can find links to the shows. It's, you know, I mean, it's YouTube channel. So follow us. We'd love your support. With that said, please give us a call. 623-523-0444 or email us teamnothermoneyshow.com teamothermoneyshow.com we'll be right back. Thank you so much for being with us. [00:25:41] Speaker B: Stay right there. Another money show returns in moments. And be sure to subscribe to the podcast and leave a review. [00:25:57] Speaker F: Spring has arrived, and with it, the urge to fling open windows, sweep away dust, and finally tackle that drawer of forgotten receipts and tangled cords. But while your home gets an annual refresh, your finances might be collecting their own Quiet clutter. I'm Jim Tarabokia for the Retirement Radio Network powered by Amerilife. Now that spring is upon us, maybe you filled your closet with those winter coats. I'm sure it feels quite liberating. But what about the financial dust bunnies hiding in your accounts? Break your budget. Founder Michaela Alaka recently spoke with Yahoo. Finance about the importance of gaining a full view of your money situation. [00:26:31] Speaker G: My best recommendation for getting started with auditing and spring cleaning your finances is to take a financial snapshot. And what this is going to do is show you how much money you are spending on essential things and non essential things. [00:26:46] Speaker F: A recent guide from Morgan Stanley offers three straightforward steps to tidy up your finances and clear the path ahead. First, clean up your accounts. If your money is scattered across multiple banks and brokerage firms, it can feel chaotic. And as financial advisor Matt McClure of the Retirement Radio Network tells us, consolidating where it makes sense can give you that full, honest picture of your finances. [00:27:08] Speaker A: Take inventory of all of your accounts. Look for ways to simplify where your money is held because you don't want it scattered all around in a bunch of different places. You want to be diversified, of course, but you can do that within a couple of different kinds of accounts. [00:27:22] Speaker F: Next, declutter your debt. Multiple credit cards, loans with varying interest rates and different due dates can create unnecessary pressure. And finally, organize your income and expenses. Take a hard look at where your money actually goes each month. A clear budget lets you direct more towards your near term or even long term goals, like a comfortable retirement. So just as a thorough spring cleaning refreshes your home, these small, deliberate actions can declutter your financial life and make room for what matters most. The spring offers a moment to pause and tidy up. And that includes your finances. For the Retirement Radio Network powered by Amerilife, I'm Jim Tarabokia. [00:27:59] Speaker B: Welcome back to Another Money Show. To schedule your free, no obligation consultation with J R and Anthony, Visit another money show.com or call 623-523-0444. [00:28:15] Speaker D: Welcome back to Another Money Show. Thank you so much for being with us. As you know, we greatly appreciate it. We definitely need your help. We need your support. We're a little fish in a big pond. So those of you that have sat with us, those of you that have trusted us to help you with your finances, those of you that have shared our YouTube, thank you so much. I mean we, we just, we greatly appreciate it. You know, when I say we're not a 60 minute infomercial in the office. We do financial advising. We do financial planning. You know, I mean, you've got Anthony, he's a recovering engineer. [00:28:46] Speaker E: He's smart. [00:28:47] Speaker D: He can help you back test your stocks or bonds or mutual funds or whatever. So we, we are good at the financial side. But this show is more about telling [00:28:56] Speaker E: you to be awake, be aware, be nimble. [00:28:58] Speaker D: So thank you for your support. Keep it coming. Let's bang out the Festivus Report. Then I want to finish up on how scary the world is. [00:29:06] Speaker E: Then I want to get into the articles Michael C. Sent over. [00:29:10] Speaker D: So this one's kind of. It's a quick one. Amateur numbers. This one's only wasting $936,000. It's amazing when a million dollars is like, should I even read it? [00:29:23] Speaker E: So, and by the way, if you're [00:29:24] Speaker D: new with us, we're reading one way [00:29:27] Speaker E: your money was wasted last year. [00:29:29] Speaker D: Rand Paul does a report every year called the Festivus Report and it just kind of shares with you where your tax dollars are going. They're not all going to Ukraine and [00:29:38] Speaker E: Israel and now Iran. [00:29:40] Speaker D: They're also going to some stupid crap that you didn't even know about. So this one's quick. [00:29:45] Speaker E: HHS is spending $936,000 on mapping every micro subculture in LA's sprawling sex for STD awareness and prevention to create tailored hip outreach to niche nightlife tribes most Americans have never heard of. [00:30:10] Speaker D: If anything I just said is like what? And why are you saying this exactly? [00:30:16] Speaker E: Everything we read from the Festivus Report [00:30:19] Speaker D: is like, what the hell, government. Let's see here. While investigating this waste item, while we learned a whole lot, we practically had it. [00:30:27] Speaker E: An anthropological tour of every underground social clique in la. [00:30:34] Speaker D: I bet that was a fun day. Hope you washed your hands after that one. [00:30:37] Speaker E: This grant lists to name a few, bear cub subculture, tea party community, drag queen subculture and queer Latinx punk rock scene as target groups in California. I'm sorry. [00:30:56] Speaker D: If California wants to run this kind [00:30:59] Speaker E: of sociological mapping project, fine. But why is Washington sending nearly a million taxpayer dollars to fund what reads like a graduate thesis on LA queer nightlife dynamics? [00:31:15] Speaker D: I guess I don't have to say much more. That pretty self explanatory. Your tax dollars are going through this stuff. So maybe one day our vote will count. [00:31:24] Speaker E: Maybe. [00:31:25] Speaker D: I don't know, maybe something will change. Who knows? During the break, Sam brought up something that that is very. We overlook certain things. [00:31:33] Speaker E: One thing is the expense. We are still giving money to Ukraine. I have heard I Haven't had a chance to dig into it on that busy. I've heard we give 40 million million [00:31:45] Speaker D: a week to the families of Taliban dead. [00:31:50] Speaker E: Meaning if you were a Taliban fighter and you were killed fighting the US [00:31:55] Speaker D: I believe is mainly who you're fighting. [00:31:57] Speaker E: Your family is getting reparations from this country. [00:32:00] Speaker D: If anybody listening has time to dig into that, share with me what you find. I just don't know how of a [00:32:05] Speaker E: priority I'll make it. It's insane. [00:32:07] Speaker D: What's going on. [00:32:08] Speaker E: We are 38 trillion in debt. We're about to hit 39 trillion in debt. Sam brought up the fact that what is this Iran conflict? It's not a war. [00:32:21] Speaker D: What is it costing us? [00:32:23] Speaker E: What we are adding another expense line item. Defense budget is now the third largest. [00:32:29] Speaker D: Wait, do I have that wrong? It's now maybe it's the second largest [00:32:34] Speaker E: line item on our budget and it [00:32:36] Speaker D: doesn't look like it's going to end. Here's an article from the I love this. [00:32:41] Speaker E: This is a new publication to me. [00:32:43] Speaker D: I just found it a couple weeks ago. [00:32:45] Speaker E: This is from the end time headlines. On March 10, Iran conflict goes global with over 20 nations now militarily involved. Ten days into President Trump's Iran campaign, [00:33:02] Speaker D: the oh Sam just put up the US debt clock if you haven't made [00:33:06] Speaker E: your way over there. [00:33:07] Speaker D: I believe we've mentioned that to you. US debt clock.org we are at $38,874,000,000,000 in debt. And Sam pointed out the largest debt items. [00:33:23] Speaker E: Number one is Medicare and Medicaid at 1.9 trillion. Number two, Social Security at 1.6 trillion. Number three, the national the defense budget at 931 billion. And then coming in right after that, the fourth largest expenditure interest on the debt. So the interest we're paying on the debt is 992. Wait a minute, wait a minute, wait a minute. 992 billion is. That'd be number three cause the defense [00:34:01] Speaker D: budget is 931 so they need to move that over one. [00:34:04] Speaker E: So yes, the interest on the debt [00:34:06] Speaker D: is the number three largest expenditure. Number four is defense and that's rising fast. So make your way over there to US debt clock. You won't be have some time to kill because once you start poking around [00:34:17] Speaker E: you're gonna see all kinds of things. [00:34:19] Speaker D: Open the secret window in the top [00:34:21] Speaker E: right hand corner while you're there too. Moving back to the end of time headlines. [00:34:27] Speaker D: Let's see here. [00:34:28] Speaker E: At least 20 countries are now militarily involved shooting, shielding or quietly Supplying. While a widening energy shock punishes nations far from the front lines. [00:34:43] Speaker D: That's probably you if you had to go to get gas this week. [00:34:47] Speaker E: This isn't. [00:34:48] Speaker D: I love this. [00:34:49] Speaker E: This isn't World War 3, but it [00:34:51] Speaker D: may be the closest we've come in [00:34:53] Speaker E: decades, drawing in more countries, more great powers and more overlapping conflicts than any crisis since the Cold War. Iran has struck at least 10 countries since the war began, hitting US and Israeli bases, Persian Gulf capitals, oil infrastructure and civilian areas in an attempt to impose military maximum pain on Washington and its allies. Sounds pretty global to me. [00:35:23] Speaker D: The word global and the word war. The world war seemed kind of overlapping to me, but apparently not. Iran has effectively closed the Strait of Hormuz. [00:35:33] Speaker E: Is it straight or straits? [00:35:34] Speaker D: I've heard it both ways. [00:35:36] Speaker E: The narrow choke point through which 20% [00:35:40] Speaker D: of the world's oil flows, sending prices [00:35:43] Speaker E: for oil, gas, plastics and fertilizer soaring across the globe. Israel is fighting on two fronts, pounding Iran while battling Hezbollah on the ground in Lebanon, where more than 500,000 people have been displaced in one week. The war has spread far beyond the Middle east, pulling European militaries into the conflict and forcing NATO to shoot down Iranian missiles over allied territory for the first time. France, France. Did they surrender yet? France has dispatched its nuclear powered aircraft. When you hear the word nuclear, and [00:36:20] Speaker D: it's not nuclear, it's nuclear. [00:36:21] Speaker E: When you hear the word nuclear, key [00:36:23] Speaker D: into that because that's when we'll finally [00:36:25] Speaker E: call it a war. [00:36:26] Speaker D: When China and Russia or North Korea or somebody shoots a nuclear warhead off. Let's see here. [00:36:32] Speaker E: France has dispatched its nuclear powered aircraft carrier to the eastern Mediterranean, joining British warships after an Iranian made drone struck a UK air base on Cyprus. A member of the Union, the European Union. [00:36:47] Speaker D: Cyprus, they had a bank bail in. Kids, make sure you familiarize yourself with [00:36:51] Speaker E: the term bail in. [00:36:52] Speaker D: So did Lebanon. [00:36:53] Speaker E: Speaking of which, so did Greece. [00:36:55] Speaker D: Last thing here. Greece and Turkey, bitter rivals within NATO, also have rushed forces to Cyprus where their fighter jets now face each other [00:37:07] Speaker E: across a partition line that has divided the island for 50 years. Even Australia. [00:37:14] Speaker D: Australia. [00:37:14] Speaker E: Aren't they mellow? Even Australia said Monday it's sending missiles and radar plane to help the UAE and other Gulf countries defend themselves from Iran. [00:37:25] Speaker D: Holy crap. But it's not World War iii. It's just a. It's a skirmish, if you will. It's a conflict. [00:37:32] Speaker E: It's. But it's not World War Three. [00:37:34] Speaker D: Thank goodness. So, my gosh, the world is crazy and I don't think, Anthony, we can call this a Black swan, because, I mean, it's not, you know, we bombed Iran last year and so it already started. I think the black swan might actually be the gas prices. I mean, I think that's what might [00:37:54] Speaker E: bring down the financial markets. If this skirmish. [00:37:58] Speaker D: I like the word skirmish. Not as much as I like the [00:38:00] Speaker E: word stimmy from the COVID days, but [00:38:02] Speaker D: skirmish is a good one. [00:38:03] Speaker E: If this skirmish lasts much longer and [00:38:07] Speaker D: your gas prices keep going up, I [00:38:09] Speaker E: promise you there's going to be some pain. You do realize, right? I mean, maybe you guys don't Sam [00:38:13] Speaker D: and Anthony, but a lot of people out there, maybe not even our listeners, [00:38:17] Speaker E: there's people that are having trouble making their mortgage payment, they're having trouble making their car payments. There's a, there's a big problem with [00:38:24] Speaker D: people that are late on their mortgage [00:38:26] Speaker E: payments and their credit card payments and their car payments. [00:38:29] Speaker D: Auto loan defaults, subprime auto loan defaults. There's a lot of pain out there for the middle class. [00:38:34] Speaker E: So this is not going to help. [00:38:36] Speaker D: And guess what's going to happen in the next few weeks. I'd say about three more weeks and [00:38:39] Speaker E: then we'll check in on this again, [00:38:41] Speaker D: see how things are going. [00:38:42] Speaker E: Your prices, the inflation is going to get hairy. [00:38:47] Speaker D: So I don't know. I'm not sure what to think. And once again, depending on how you look at it, depending on how you're sitting, the good news or bad news, [00:38:56] Speaker E: the rich are getting more. [00:38:59] Speaker D: The rich are getting richer, the poor hover as usual, and the middle class [00:39:05] Speaker E: is shrinking on steroids. [00:39:07] Speaker D: And this war is not going to help. Sam, good call. Inflation is so bad when even the [00:39:14] Speaker E: Cardinals tickets are more expensive. [00:39:16] Speaker D: The Cardinals tickets have been going up every year that I've been watching them. [00:39:20] Speaker E: The Cardinals are a mediocre team at best. [00:39:23] Speaker D: I'm not sure. Oh, because we're talking about world wars. You brought the Cardinals. [00:39:25] Speaker E: The. [00:39:26] Speaker D: The Cardinals finally officially let go of Kyler Murray yesterday on the 11th of March. So we knew that was coming, but it's official. So anybody that plays high school football or better, if you're looking for a job, if unemployment is bothering you, we might have an opening. I guess we're going to go with. [00:39:45] Speaker E: What is his name? [00:39:45] Speaker D: Brissette. [00:39:46] Speaker E: The second line from the Cardinals. [00:39:48] Speaker D: But we'll see. We shall see what happens. I've dismissed myself of the Arizona Cardinals. I'm just. The only one I'm going to watch is the Chicago Bears. Born and raised in Chicago. And that's, that's. Yeah, I have enough on my plate to watch them. I don't need to watch the cardinals anyway. Man, that got me off track, didn't it? So one more geopolitical thing here and [00:40:09] Speaker E: then I want to get into the most important articles of the day. So here's something for you from Zero Hedge. On 5 March 2026, Trump team brokers gold deal with Venezuela up to 1000kg heading to US markets. [00:40:27] Speaker D: Good. Put them in the big vaults. [00:40:29] Speaker E: Let's, let's audit Fort Knox. [00:40:31] Speaker D: Let's get Geraldo Rivera, show up with a camera crew and see how much gold we have. Once you put that in there, of course, because before you put that thousand kilograms in there, there's probably not enough to audit. Speaking of Venezuela, I don't know if this is true, but I was listening [00:40:44] Speaker E: to Joe and Jason's show for a few minutes this morning and Jason said that he found out that some of [00:40:50] Speaker D: that oil from Venezuela that has been absconded with has gone to Israel. [00:40:56] Speaker E: So leading up to the Iran conflict, skirmish, war, apparently some of the Venezuelan oil made its way to Israel. That's interesting. [00:41:04] Speaker D: I thought it was coming here. By the way, I was on Joe and Jason show again last week. So if you, if you want to link the article, it's probably the most I've been able to talk on their show. [00:41:12] Speaker E: So I was on there on March 5th on Patriot Radio News Hour. [00:41:15] Speaker D: Thank you so much Joe and Jason and Jack. I mean that's, that's been wonderful for [00:41:19] Speaker E: me to get on your show. So let's see here. [00:41:22] Speaker D: Back to Zero Hedge as things continue to pop off in the Middle East. That's what this is. [00:41:27] Speaker E: It's not World War 3, it's just a popping off. [00:41:30] Speaker D: So as things continue to pop off [00:41:33] Speaker E: in the Middle east, the United States [00:41:35] Speaker D: is still focused on Venezuela and has [00:41:37] Speaker E: brokered a multimillion dollar gold deal. The agreement, first reported by Axios, involves The sale between 650 and 1,000 kg of gold dore bars which are semi refined with approximately 98% gold content from Venezuela's state owned mining company Minervan to the global commodities trader Trafigura. [00:42:03] Speaker D: The gold is destined for refineries in [00:42:06] Speaker E: the United States, making a shift in Venezuela's resource exports toward American markets. [00:42:12] Speaker D: The deal, valued at roughly $163,000 per kilogram. Gosh damn, that's a big number. [00:42:20] Speaker E: Based on current gold prices amid global economy uncertainty, marks the third extraction contract overseen by the Trump administration since US forces captured Maduro on January 3rd. It's part of a Broader effort to stabilize and reconstruct Venezuela's economy under US Influence. No nation building here, kids. [00:42:44] Speaker D: With the White House asserting de facto [00:42:47] Speaker E: control over the vast oil reserves, the world's largest known. [00:42:53] Speaker D: I highlighted most of this article, but [00:42:56] Speaker E: please let me know and I'll send [00:42:57] Speaker D: it to you because I don't have time to read much more of this. But it basically said that people in [00:43:01] Speaker E: Venezuela were like, skimming from the gold supply. [00:43:05] Speaker D: So stop skimming Venezuela, move it over [00:43:08] Speaker E: here and let us skim. We're going to skim all of your [00:43:11] Speaker D: gold in this country. Anyway, good article. [00:43:15] Speaker E: Why don't we get into what I think is very important? I'm going to start out with another. [00:43:20] Speaker D: Sam, put on the time on the board when you get them in, if you would, because I want to be [00:43:24] Speaker E: careful and not miss anything. [00:43:26] Speaker D: Another Zero Hedge article. [00:43:27] Speaker E: This one is from. [00:43:28] Speaker D: Oh, we Got Plenty of Time. [00:43:30] Speaker E: This is from January 21st of 2026. [00:43:35] Speaker D: This ties into how I started the show and it's going to be a [00:43:38] Speaker E: segue into how I'm going to end the show. [00:43:40] Speaker D: So the stock market isn't a market anymore. [00:43:43] Speaker E: It's a political control mechanism. I have said this since I was new in my career. When I figured out what kind of [00:43:52] Speaker D: shenanigans were going on, when I figured [00:43:54] Speaker E: out how my industry next to used [00:43:56] Speaker D: car salespeople and timeshare salespeople people, the [00:44:00] Speaker E: pressure and the quotas make us a very sketchy industry. [00:44:04] Speaker D: I'm sorry to say that. I'm sorry to say that because I'm [00:44:07] Speaker E: in the industry and I'm just telling you, I'm in Sun City. [00:44:10] Speaker D: Husband passes away, usually not being sexist, [00:44:13] Speaker E: that's just more common. And then the spouse makes their way [00:44:17] Speaker D: into a Wells Fargo financial advisors get in front of a guy who's very financial. Blue suit, white shirt, red tie, highway, [00:44:23] Speaker E: polished shoes, sells her a variable annuity that she cannot possibly understand, doesn't get explained. The surrender charges, the fees, the risk [00:44:32] Speaker D: level, it's so slimy. [00:44:35] Speaker E: So I'm sorry. [00:44:36] Speaker D: And Anthony, when he was new in the office the first couple years, he picked up on that. And we talked about it years ago and agreed that what we see, just our part of the financial services industry, about 80 to 85% of the financial plans that we become a second opinion [00:44:51] Speaker E: on, there's questions, there's potential problems. It doesn't seem like it's just clearly in the best interest of the client. So anyway, man, I'm slamming my entire industry today. [00:45:05] Speaker D: Let's see here it's with the market. [00:45:08] Speaker E: Its primary purpose was once a straightforward one. [00:45:12] Speaker D: A venue where companies could raise capital [00:45:14] Speaker E: by selling shares to the public and where investors could freely buy and sell those shares among themselves. [00:45:23] Speaker D: Sounds like a free market. [00:45:25] Speaker E: Today the market still performs that function, but it has been far overshadowed by by three larger unofficial roles that have become an external, have become existential to social and political stability. Number one, liquidity sponge. Number two, de facto savings account. Number three, crucial tax revenue. Let's see here. I want to try to consolidate. [00:45:52] Speaker D: Let me just read a couple of lines from this. [00:45:54] Speaker E: Meanwhile, the market cap to gdp, also known as the Buffett indicator, sits at a record high. It measures the total value of the US stock market relative to the US GDP. Today that ratio stands at roughly 221%, far exceeding prior peaks of 139% at the height of the dot com bubble in 2000 and 166% at the peak [00:46:24] Speaker D: of the housing bubble in 2007. Think about that for one second. If these numbers are accurate, and I hope they are, I hope this was vetted and verified. [00:46:33] Speaker E: So the, the, our market cap to [00:46:36] Speaker D: GDP is at 200% and the highest [00:46:38] Speaker E: it's ever been before is 100%, 140%. That, that could mean that the next [00:46:43] Speaker D: stock market correction will be a doozy. But what do I know? Let's see here. [00:46:47] Speaker E: You, you would be mistaken to believe today's insane valuations reflect a voluntary free market of rational buyers and sellers operating with honest money. What we are witnessing instead is the financial equivalent of a carnival fun house. A distorted, warped, shaped, ever increasing supply of fake money. [00:47:10] Speaker D: Amen. [00:47:10] Speaker E: Unfortunately, Anthony, this is where you and Jason, Jason Walker and Anthony Correll would fit into more of this thinking. [00:47:18] Speaker D: The far more likely outcome is that [00:47:20] Speaker E: we'll continue to experience a melt up until they destroy the currency. Ludwig von Mises. Mises, Mises guy, the godfather of free market Austrian economics, summed up the US Government's dilemma. There is no means of avoiding the [00:47:39] Speaker D: final collapse of, of a boom brought [00:47:42] Speaker E: about by credit expansion. 100%. What we're in right now, the alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved. What this person is saying, and apparently he's a smart dude, is that this [00:48:06] Speaker D: could keep puffing up for a while [00:48:08] Speaker E: until we're ready to usher in the [00:48:10] Speaker D: central bank digital currency collapse, the housing market collapse, the stock market. You know, the government will swoop in to help us with our new digital currency. You know, until that happens, I guess the markets can keep going. [00:48:23] Speaker E: I still think what this article is [00:48:24] Speaker D: missing, black swan event, something we're not seeing is going to come in. Perhaps we're in it right now. Perhaps these gas prices are not going [00:48:32] Speaker E: to go down and we're going to [00:48:33] Speaker D: get to an average of five to [00:48:35] Speaker E: seven dollars per gallon in the country, [00:48:38] Speaker D: not just California and people are going to shut down. [00:48:41] Speaker E: There's record drains right now out of 401ks. [00:48:45] Speaker D: If you poke into the exodus of middle class money from 401ks, it's absolutely shocking. So we will see what happens. [00:48:53] Speaker E: I don't think we go much further [00:48:54] Speaker D: without at least a stock market meltdown. I think the melt up has been epic for 17 years. The end of the 2008 financial great recession was March 9th of 2009. [00:49:06] Speaker E: We are now on March 12th of 2026. So we had a good run markets [00:49:12] Speaker D: but sooner or later, you know, sooner or later things are gonna, they're gonna change. Anyway, let's get into the biggest thing I have for today. I got a couple articles from Michael and I and I want to talk on them because Anthony, I don't know, maybe three weeks ago when I brought up Blue Owl, I said could this be the next 2008? Could, could this be the mortgage backed securities crisis, the big short? [00:49:34] Speaker E: And you said probably not. [00:49:36] Speaker D: But since then, since a couple of weeks ago, things seem to be getting worse. I don't know if you're tracking it. I mean when I brought up Blue Owl, Blue Hour was like, you know, we already had was it first brands, Tri Color, Apollo. There were other credit bubbles that were popping. So Blue Hour was a newer one. [00:49:57] Speaker E: What's changed? [00:49:58] Speaker D: And Anthony, you were kind of like yeah, it won't matter, this is going to bounce back. And I was like I'm not so sure. What about BlackRock? I mean if BlackRock starts to have [00:50:07] Speaker E: liquidity issues, that's huge. [00:50:10] Speaker D: And what I'm waiting for next by the way, BlackRock is the biggie and Blackstone and Vanguard are the other two. So let me get into a little bit. [00:50:19] Speaker E: Jamie Dimon called these cockroaches. They said if there's one, you're going to see more. Boy, we are seeing it. [00:50:25] Speaker D: Let's see here. Tricolor first brands Apollo, Blue Owl, BlackRock, BlackRock. Here's an article from Yahoo.com the sub [00:50:35] Speaker E: sub is Bloomberg from 6 March. BlackRock $26 billion private credit fund limits [00:50:44] Speaker D: withdrawals BlackRock curbed withdrawals from one of [00:50:48] Speaker E: its biggest private credit funds after client requests for redemptions spiked. The latest sign of investor anxiety about the $1.8 trillion private credit industry. The firm's $26 billion HPS corporate lending fund, one of the largest non traded business development companies, said in a statement on Friday that shareholders requested 9.3% of their shares, but management decided to cap [00:51:22] Speaker D: repurchases at 5% while the total value [00:51:27] Speaker E: of the shares would have been about 1.2 billion. According to Bloomberg calculations, investors will only [00:51:34] Speaker D: get back about 620 million. It's the clearest instance of gating withdrawals major private credit funds since late last [00:51:44] Speaker E: year, when investors grew increasingly skittish about [00:51:48] Speaker D: the asset class after high profile collapses [00:51:52] Speaker E: raised concerns about lending standards. I used to manage a very large portfolio for a recreation center in the [00:52:02] Speaker D: West Valley when I was their financial [00:52:05] Speaker E: advisor for this fund. One of the things I learned at [00:52:08] Speaker D: the time that was, you know, 2008, nine time frame, everybody was getting out of the stock market, you know, obviously as it was going down and they [00:52:16] Speaker E: were rushing into money market funds and I had to learn about the terms gates and fees. [00:52:21] Speaker D: We are seeing gates right now with these companies. [00:52:23] Speaker E: We are soon to see fees. [00:52:25] Speaker D: And by the way, Anthony, didn't they want to put this crap in our 401ks? [00:52:29] Speaker E: Didn't they want to put cryptocurrencies in [00:52:31] Speaker D: our 401ks and private lending like this stuff. So. [00:52:34] Speaker C: Oh yeah, the private equity. [00:52:36] Speaker E: Yep. [00:52:36] Speaker D: So we're going to continue this next week. But this is growing legs, Anthony. This is something we need to watch. [00:52:40] Speaker E: And, and what cryptos, you know, are [00:52:43] Speaker D: they bringing a 401k? [00:52:44] Speaker E: I'm not crypto for Columbus, but I [00:52:46] Speaker D: need to explore some new cryptos for my phone. [00:52:49] Speaker C: I'm excited for that one documentary to come out. That guy from the oc, that documentary about how crypto. It's just rich people stealing from us and again, we forget about NFTs. NFTs came out at the same time. And where's all that value now? It's gone. Doesn't exist. So is that it? Are we done? [00:53:07] Speaker E: That's it. [00:53:07] Speaker C: All right. So that's it for today's show. If you like what you heard, you have questions about any of the topics today or you want to sit down with us to review your personal financial situation, you can reach us at teamothermoneyshow.com find us on the web. Anothermoneyshow.com give us a call. 623-523-0444. The number again is 623-523-0444. There's no minimums, no cost for appointments, nothing to lose by getting a second opinion on your financial situation. We'll see you again next Saturday at 5am and noon right here on 960, the Patriot. [00:53:42] Speaker B: Thanks for listening to another money show. You deserve to work with a private wealth management firm that will strategically work to protect your hard earned assets. To schedule your free no obligation consultation visit anothermoneyshow.com investment advisory services offers through Brookstone Capital Management LLC, BCM, a registered investment advisor. BCM and Rochford Financial are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Investments involve risk and unless otherwise stated are not guaranteed. Past performance cannot be used as an indicator to determine future results. [00:54:20] Speaker D: Hi, I'm JR Rachford, host of another Money show airing Saturdays at noon on [00:54:25] Speaker E: 9 60, the Patriot. If you've heard our show, you know [00:54:28] Speaker D: it's more news based and how current events could affect your finances versus actually [00:54:33] Speaker E: telling you what we do. [00:54:35] Speaker D: I'm going to tell you what I've [00:54:37] Speaker E: seen time and time again to be the very key to a happy retirement and that is income. [00:54:43] Speaker D: You would think that those without much [00:54:45] Speaker E: money in retirement are the only ones worried in retirement. [00:54:49] Speaker D: What I consistently see is that those with large sums of assets are also just as worried. That worry always comes from the fear of running out. Stop worrying about your assets. Assets come and go. [00:55:03] Speaker E: Income is forever. [00:55:05] Speaker D: I believe self funding pensions are the [00:55:07] Speaker E: key to a happy retirement and I [00:55:09] Speaker D: can help you do it. Reach out to us at 623-523-0444. [00:55:16] Speaker E: That number again is 623-523-0444 or find [00:55:22] Speaker D: us on the web at anothermoneyshow.com registered [00:55:26] Speaker A: investment advisors and investment advisor representatives act as fiduciaries for all of our investment management clients. We have an obligation to act in the best interests of our clients and to make full disclosures of any conflicts of interest if any exist. Refer to our firm brochure the ADV2A page 4 for additional information. Any comments regarding safe and secure products and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims paying ability of the issuing company and are not offered by bwa.