Podcasts about Capital account

This week we're covering California's tax basis capital account reporting requirement, which goes into effect after a two-year delay.

My friend and fellow student of money codenamed "Lester" joins me for a multi-episode conversation exploring the excellent book "The Twilight of Gold" by Melchior Palyi. Twitter: https://twitter.com/ProgrammableTx Book: https://www.amazon.com/dp/B0006C31O4 // SPONSORS // In Wolf's Clothing: https://wolfnyc.com/iCoin Hardware Wallet (use discount code BITCOIN23): https://www.icointechnology.com/ Wasabi Wallet: https://wasabiwallet.io/ Bitcoin Apparel (use discount code BREEDLOVE): https://thebitcoinclothingcompany.com/ Feel Free Tonics (use discount code BREEDLOVE): https://botanictonics.com Carnivore Bar (use discount code BREEDLOVE): https://carnivorebar.com/ // OUTLINE // 00:00:00 - Coming up 00:00:21 - Intro 00:01:54 - Helping Lightning Startups with In Wolf's Clothing 00:02:40 - Introducing "The Twilight of Gold" Series 00:04:05 - The Twilight of Gold: Myths and Realities 00:09:07 - A Shift in the Currency Standard 00:10:55 - Debt Monetization Leading to Currency Graveyard 00:13:52 - Monetary Prism: From Gold to Bitcoin 00:15:35 - Interest Coverage Ratio of the Government 00:19:15 - Calculating the Federal Debt 00:21:01 - Inflationary Forces and Deflationary Forces 00:26:50 - Negative Real Yields 00:27:50 - Money is the Mirror Reflection of the Economy it Serves 00:29:46 - Political Influence on Money 00:33:35 - Civilization Inherits the Attributes of the Money 00:36:08 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet 00:37:05 - Bitcoin Wouldn't Work in a Perfect World 00:40:52 - Money is Essential to Human Rationality 00:43:23 - Myths of the Gold Standard 00:44:47 - First Myth: Britain's Shift to Gold Standard in 1925 00:46:00 - Second Myth: Capitalism Led to the Great Depression 00:47:17 - Third Myth: Gold's Shortage Caused the Great Depression 00:49:31 - Probability of Hyperinflation 00:50:55 - Lester's Updated View on Gold 00:56:20 - China's Capital Account 00:58:24 - Post Bretton Woods Mistakes by the US 01:00:46 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet 01:01:38 - Contemplating Drivechains of BIP 300 01:06:32 - Problems of Pegging Fiat Money to Gold 01:09:12 - Shanghai Gold Exchange 01:13:53 - Political Role of Gold 01:16:53 - Using Gold Revaluation Account to Cover Losses 01:22:19 - Estimating the True Size of China's Gold Reserve// PODCAST // Podcast Website: https://whatismoneypodcast.com/ Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE? RSS Feed: https://feeds.simplecast.com/MLdpYXYI// SUPPORT THIS CHANNEL // Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22 Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove// WRITTEN WORK // Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/// SOCIAL // Breedlove Twitter: https://twitter.com/Breedlove22 WiM? Twitter: https://twitter.com/WhatisMoneyShow LinkedIn: https://www.linkedin.com/in/breedlove22Instagram: https://www.instagram.com/breedlove_22 TikTok: https://www.tiktok.com/@breedlove22 All My Current Work: https://vida.page/breedlove22

Dr. G. Keith Smith is a board-certified anesthesiologist in private practice since 1990. In 1997, he co-founded The Surgery Center of Oklahoma, an outpatient surgery center in Oklahoma City. SCO is owned by over 50 top physicians and surgeons in central Oklahoma. Dr. Smith is the medical director, CEO, and managing partner while maintaining an active anesthesia practice.In 2009, Dr. Smith launched a website that displays SCO's all-inclusive pricing for various surgical procedures. This move garnered national and even international attention. Not only do many uninsured or underinsured American patients take advantage of this cash pricing, but many Canadians have traveled to The Surgery Center to receive care. Recently, the focus has expanded to working with self-funded employers to offer high-value care to their employees. Increasingly, self-funded health plans are taking advantage of Dr. Smith's pricing model resulting in significant savings for their employee health plans.The free market focus of the Surgery Center, the innovator of this free market model in the U.S., has gained the endorsement of policymakers and legislators. Dr. Smith hopes as many facilities as possible will adopt a transparent pricing model, which he believes will lower costs for all and improve the quality of care. Dr. Smith is the co-founder of the Free Market Medical Association. The association provides a platform where buyers, individuals, and employers seeking high-quality, affordable healthcare can find free market-minded sellers, both physicians and facilities.Additionally, Dr. Smith has appeared on the John Stossel Show, CNBC, Huffington Post, The O'Reilly Factor, Capital Account with Lauren Lyster, and the Ron Paul Channel. Reason Magazine's TV division and NBC affiliate, KFOR, has also featured him. The New York Times, ABC News, Forbes, and others have written articles featuring Dr. Smith's revolutionary approach to healthcare pricing and uncompromising free market principles.He is also a strong supporter of #DPC and NBPAS.   Support the show

Recorded June 23, 2023 - Recorded June 23, 2023 - In this conversation, Pierre Daillie talks with Hugh Hendry, Founder, Eclectica Macro, a.k.a The Acid Capitalist, about the current financial landscape. They discuss topics such as the debt ceiling deal, the fear of supply, the rise of tech stocks, the appeal of long duration treasuries, and the deficiency of demand caused by China's oversupply. They also touch on the impact of Xi Jinping's policies and the posturing between China and the US. Overall, the conversation highlights the potential risks and opportunities in the global financial system. In this conversation, Hugh Hendry discusses the wealth destruction caused by the flat stock market and the growing debt problem with China. He highlights the symbiotic relationship between the Communist Party of China and Wall Street, as well as the conflict of interest in US capital markets. Hendry emphasizes the importance of trend in trading and shares his investment strategy, including the allocation of assets such as stocks, treasuries, and Bitcoin. He also discusses the potential opportunities in long bonds and the glitch at Boeing, and a trade in Apple.TAKEAWAYSThe fear of a synchronized global recession and the potential impact on the financial markets.The appeal of long duration treasuries as a safe haven asset in a potentially weakening economy.The concentration of market gains in a few mega cap tech stocks and the potential risks of a market correction.The impact of China's oversupply on global markets and the deficiency of demand caused by their trade surplus. The stock market is flat, causing wealth destruction.There is a symbiotic relationship between the Communist Party of China and Wall Street.US capital markets have a conflict of interest that prevents them from addressing the real market problems.Trend is crucial in trading and asset allocation.KEY TIMESTAMPS[00:00] Introduction and Setting the Stage[02:31] Debt Ceiling Deal and Liquidity Concerns[03:44] The Fear of Supply and Risk Aversion[05:29] The Rise of Tech Stocks and Riskless Securities[07:02] The Appeal of Long Duration Treasuries[07:36] Inflation and Real Rates[09:36] Mean Reversion and Treasuries[11:44] The Market's Dependence on Mega Cap Tech Stocks[13:29] The Hated Rally and Missed Opportunities[14:38] The Belief System and Valuation of Stocks[16:09] The Coiled Spring and Potential Correction[19:45] Debt Ceiling and the Chinese Economy[20:34] Mutually Assured Destruction and Debt Ceiling[24:35] The Deficiency of Demand and Chinese Oversupply[29:18] The Impact of Xi Jinping's Policies[37:57] China's Wealth and Posturing[39:21] The Wealth Destruction[40:35] The Real Problem with China[41:39] The Symbiotic Relationship between China and Wall Street[42:43] The Monetary Policy of the US[43:50] The Conflict of Interest in Capital Markets[44:45] The Search for Equilibrium[46:33] Investment Strategy: Quadratic Expression[47:52] The Role of Cash in Asset Allocation[49:52] The Potential of Bitcoin[51:39] The Relative Sizes of Gold and Bitcoin[55:26] The Correlation between Bitcoin and NASDAQ[57:19] The Importance of Trend in Trading[58:47] The Decline of Hedge Funds[59:23] The Glaring Opportunity in Long Bonds[01:02:24] A Parallel with 2003[01:03:39] The Conflict of Agendas[01:06:22] The Glitch at Boeing[01:11:27] The Most Glaring Opportunity[01:13:49] Where to Find Hugh HendryHIGHLIGHTSThe Magnificent Seven Stocks:Hendry notes that in every major bear market, certain stocks, referred to as the "Magnificent Seven," are perceived as being independent of broader market trends. These include companies like Nvidia and AMD, considered less economically sensitive within equity allocations.He draws parallels between the valuation of these stocks and Bitcoin, suggesting that their market value is more influenced by belief systems than traditional financial metrics, similar to how art is valued.Hendry discusses the valuation of the U.S. stock market, highlighting its size relative to the GDP and expressing skepticism about overly optimistic market projections.He mentions a cautious investment approach, allocating about 15% of his portfolio to these specific stocks, emphasizing the importance of following market trends in his investment decisions.On US Treasury Bonds:Hendry addresses concerns about the U.S. Treasury issuing a large amount of bonds and its impact on prices.He draws parallels with the 2008 financial crisis, noting the importance of confidence in collateral, which often includes U.S. Treasury bonds.Hendry observes a mean reversion in Treasury prices, suggesting that current trading levels are relatively rare and could present buying opportunities.On China:Hendry discusses the probability of a confrontation between China and Taiwan, expressing concerns about the increasing likelihood of such an event.He critiques China's economic growth, labeling it as 'fake growth' and pointing out that despite the appearance of progress, real wealth creation has been lacking.Hendry also touches on China's role in global trade and economic imbalances, particularly how it redistributes wealth within its economy and buys financial assets in the United States.We discuss the symbiotic relationship between the Communist Party of China and Wall Street, suggesting both have prospered in the current environment. As a result, there is no desire on Wall Street for the was the US manages its Capital Account.On Bitcoin:He talks about the changing correlation between Bitcoin and NASDAQ, suggesting that such correlations can be misleading.Hendry expresses interest in investing in Bitcoin, particularly as its value had significantly decreased.He discusses Bitcoin's potential for growth, considering its market size relative to the larger segment it belongs to.Hendry likens Bitcoin's valuation to a belief system, similar to how art is valued.Copyright © AdvisorAnalyst.com

This week we're talking about making California adjustments to tax basis capital accounts.

In this episode of Raising The Bar Podcast, Allison talks with Dr. Keith Smith. Dr. Keith Smith is a board-certified anesthesiologist in private practice since 1990. In 1997 he co-founded The Surgery Center of Oklahoma and in 2009 launched a website displaying all-inclusive pricing for various surgical procedures. Canadians, beneficiaries of self-funded insurance plans and cost sharing ministries and uninsured individuals have spent millions of dollars on other things, thanks to this free market approach to medical service delivery. He has made appearances on the Lew Rockwell Show, the Bob Murphy Show, EconTalk with Russ Roberts, the John Stossel Show, CNBC, Huffington Post, The O'Reilly Factor, Capital Account, The Ron Paul Channel, NBC Nightly News, CBS News and has been featured by Reason Magazine's TV division. The New York Times, Time Magazine, ABC news, Forbes and many others have written articles featuring Dr. Smith's revolutionary approach to the pricing of health care and uncompromising free market principles. Are you ready to Raise the Bar? Make sure to take away the notes! Conversation Highlights:[00:17] Who is Keith Smith? [02:25] How did Keith's journey start? [02:33] Why did Keith decide to publish the Pricing? [08:59] It's not only the insurance company but the hospital working with the insurance company to make blacklists.Keith launched his website with all-inclusive pricing.Keith's most humorous conversation about fair pricing? [09:00] How was Allison's experience with Keith? [14:40] Keith's treatment is easy and cost-effective!How does Keith make things simple not just for patients but for surgeons as well? [14:41] Keith hires surgeons on a contract basis! [18:46] "Easy come, easy go."It's always better when doctors work for patients.Physicians need to be paid by those whom they serve.Physicians work for hospitals, not for patients! [20:34] Why is Direct Primary Care a revolution? [23:41] What are the benefits of Direct Primary Care? [23:42] What is the Relative Value Unit(RVU)? [26:52] What are the benefits of RVU? [28:31] Keith's opinion on Pricing Transparency requirements for hospitals. [32:38] What are the pros and cons of price transparency? [32:40] Keith's mentorship and engagement with Medical Students. [35:36] Other than hospital employment, there are many options for medical students.Keith's message to medical students. [35:38] Keith's best piece of advice for consumers and employers! Memorable Quotes:“Doctors make terrible employees.""Doctors are not necessarily making their decisions in the interest of patients but the interest of facilities.""Hospitals can own doctors, but doctors can't own hospitals!" Special Reminder:Thanks for checking out the show. Be sure to subscribe and leave a review.If you have an idea or topic for the show, or maybe you want to be on the display, visit us at https://raisingthebar.live. Reach out to Keith Smith:● LinkedIn: https://www.linkedin.com/in/keith-smith-7a861732/ Resources:● FMMA: https://fmma.org/● Surgery Center of Oklahoma: https://surgerycenterok.com/● Atlas: https://atlasbillingcompany.com/● Benjamin Rush Institute Donation Link: https://benrush.wufoo.com/forms/r5pz5a306b4933/ Connect with Allison:YouTube: AltiqeLinkedIn: Allison De PaoliWebsite: https://altiqe.comPlease email her at clientcare@altiqe.com Available on Apple Podcasts, Spotify, Stitcher, Google Podcasts, and other major podcasting platforms.

In this episode of Raising The Bar Podcast, Allison talks with Keith Smith. Keith is the House Supervisor at Legent Orthopedic and Spine Hospital. Dr. G. Keith Smith is a board certified anesthesiologist in private practice since 1990.  In 1997 he co-founded The Surgery Center of Oklahoma and in 2009 launched a website displaying all-inclusive pricing for various surgical procedures.  Canadians, beneficiaries of self-funded insurance plans and cost sharing ministries and uninsured individuals have spent millions of dollars on other things, thanks to this free market approach to medical service delivery. He has made appearances on the Lew Rockwell Show, the Bob Murphy Show, EconTalk with Russ Roberts, the John Stossel Show, CNBC, Huffington Post, The O'Reilly Factor, Capital Account, The Ron Paul Channel, NBC Nightly News, CBS News and has been featured by Reason Magazine's TV division.   The New York Times, Time Magazine, ABC news, Forbes and many others have written articles featuring Dr.Smith's revolutionary approach to the pricing of health care and uncompromising free market principles. Are you ready to Raise the Bar? Make sure to take away the notes! Conversation Highlights: [00:17] Who is Keith Smith? [02:25] ●    How did Keith's journey start? [02:33] Why did Keith decide to publish the Pricing? [08:59] ●    It's not only the insurance company but the hospital working with the insurance company to make blacklists. ●    Keith launched his website with all-inclusive pricing. ●    Keith's most humorous conversation about fair pricing? [09:00] How was Allison's experience with Keith? [14:40] ●    Keith's treatment is easy and cost-effective! ●    How does Keith make things simple not just for patients but for surgeons as well? [14:41] Keith hires surgeons on a contract basis! [18:46] ●    "Easy come, easy go." ●    It's always better when doctors work for patients. ●    Physicians need to be paid by those whom they serve. ●    Physicians work for hospitals, not for patients! [20:34] Why is Direct Primary Care a revolution? [23:41] ●    What are the benefits of Direct Primary Care? [23:42] What is the Relative Value Unit(RVU)? [26:52] ●    What are the benefits of RVU? [28:31] Keith's opinion on Pricing Transparency requirements for hospitals. [32:38] ●    What are the pros and cons of price transparency? [32:40] Keith's mentorship and engagement with Medical Students. [35:36] ●    Other than hospital employment, there are many options for medical students. ●    Keith's message to Medical Students [35:38] Keith's best piece of advice for consumers and employers! [39:57] Memorable Quotes: “Doctors make terrible employees." "Doctors are not necessarily making their decision in the interest of patients but the interest of facilities." "Hospitals can own doctors, but doctors can't own hospitals!" Special Reminder: Thanks for checking out the show. Be sure to subscribe and leave a review. If you have an idea or topic for the show, or maybe you want to be on the display, visit us at https://raisingthebar.live/ (https://raisingthebar.live). Reach out to Keith Smith: ●    LinkedIn: https://www.linkedin.com/in/keith-smith-68b916a6 (https://www.linkedin.com/in/keith-smith-68b916a6) Resources: ●     FMMA: https://fmma.org/ (https://fmma.org/) ●     Surgery Center of Oklahoma: https://surgerycenterok.com/ (https://surgerycenterok.com/) ●     Atlas: https://atlasbillingcompany.com/ (https://atlasbillingcompany.com/) ●     Benjamin Rush Institute Donation Link:...

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In the recently-concluded Winter session of Parliament, the government brought the Appropriations (No. 5) Bill, to give itself the power to withdraw funds from Consolidated Fund of India. It was cleared in the Lok Sabha amid opposition. The Constitution bars the government from withdrawing money from the Consolidated Fund of India. But the government cited crises caused by the pandemic as the reason behind taking the step. This fund is defined under Article 266 of the Constitution. It says that, “All revenues received by the Government of India, all loans raised by that Government by the issue of treasury bills, loans or ways and means advances and all moneys received by that Government in repayment of loans shall form one consolidated fund to be entitled the Consolidated Fund of India.” To put in simple terms, all revenues received, interest earned and money borrowed by the government goes into it Consolidated Fund of India. It is an account of the revenue the government gets via income tax, customs, central excise and the non-tax revenue, and the expenses it makes, excluding exceptional items. So in every budget, the government lays down a statement of estimated receipts and expenditure before the Parliament pertaining to the next financial year. This statement is titled as 'Annual Financial Statement' is the main Budget document. The Annual Financial Statement shows the receipts and payments of the government under three parts in which government accounts are kept. Consolidated Fund of India is one of them. The other two categories are Contingency Fund and the Public Account. Consolidated Fund of India includes revenue earned from direct taxes like income tax, corporate tax and indirect taxes such as GST, customs and excise duties. Dividends and profits from Public Sector Undertakings, disinvestment receipts, debt repayments and loan recoveries also go to the fund.  All expenditure of the government is incurred from the Consolidated Fund, with the exception of a few transactions which are carried out through the Contingency Fund and the Public Account. No amount can be withdrawn from this Fund without authorisation from Parliament. The Fund in turn has the following two divisions - Revenue Account and Capital Account. Revenue Account  The Revenue Account deals with the proceeds of taxation and other receipts classified as revenue as well as the expenditure met therefrom.  Capital Account The Capital Account deals with expenditure incurred with the purpose of either increasing the concrete assets of durable nature or of reducing recurring liabilities. It also includes various types of Capital Receipts. The receipts section deals with receipts of a capital nature which cannot be applied as a set off to Capital Expenditure. The expenditure section deals with expenditure incurred with the object of increasing concrete assets of a material or of reducing recurring liabilities. It also includes receipts of a capital nature intended to be applied as set off to Capital expenditure The sections ‘Public Debt' and ‘Loans and Advances', comprise loans raised and their re-payments such as internal debt, external debt and their recoveries.  Certain items of expenditure like salaries and allowances of top government officials are also charged on the Consolidated Fund. They include the President, the Chairman and the Deputy Chairman of Rajya Sabha and the Speaker and the Deputy Speaker of Lok Sabha, salaries, allowances and pensions of Judges of the Supreme Court, Comptroller and Auditor-General of India and the Central Vigilance Commission. Watch video

Demetri Kofinas is interested in looking beyond the epiphenomena to find out what's really driving change. Rather than accept the superficial, popular narrative around current events, he challenges the consensus and explores novel solutions to complex problems. Demetri is the host of Hidden Forces, a podcast that uses a financial and cultural lens to make connections among disciplines and challenge today's popular narratives.  On this episode of The Wiggin Sessions, Demetri joins me to discuss how he chooses guests for Hidden Forces and describe how technology platforms like podcasting facilitate the democratization of ideas. Demetri shares what he learned from his interview with Google CEO Eric Schmidt around artificial intelligence and the problem of goal optimization, explaining how social media channels with a business model based on advertising are incentivized for outrage. Listen in to understand how a high speed of change impacts society and learn how to maintain your humanity and sustain an open mind as you uncover the hidden forces that shape our changing world. Key Takeaways   Demetri's background as a media entrepreneur and financial analyst What technology platforms allow for the democratization of ideas  How Demetri chooses podcast guests who look beyond epiphenomena to what's really driving change  Demetri's take on the influence we have as individuals and why we're on the verge of political realignment in the US What Demetri learned from his conversation with Google CEO Eric Schmidt around AI and the problem of goal optimization Why social media platforms with a business model based on advertising are optimized for outrage Edward O. Wilson's concepts of consilience and eusociality How the human desire to do meaningful work is fueling the Great Resignation The costs associated with navigating a high speed of change The pros and cons of Demetri's open-minded approach to Hidden Forces  Connect with Demetri Kofinas Hidden Forces Podcast  Demetri on Twitter Connect with Addison Wiggin Consilience Financial Be sure to follow The Wiggin Sessions on your socials. You can find me on— Facebook @thewigginsessions Instagram @thewigginsessions Twitter @WigginSessions Resources  5-Minute Forecast The Meaning of Human Existence by Edward O. Wilson  The Daily Reckoning  Kurt Richebacher  Mobs, Messiahs and Markets: Surviving the Public Spectacle in Finance and Politics by Bill Bonner and Lila Rajiva  Empire of Debt: The Rise of an Epic Financial Crisis by Will Bonner and Addison Wiggin The Demise of the Dollar … and Why It's Great for Your Investments by Addison Wiggin Hans-Hermann Hoppe Financial Reckoning Day: Surviving the Soft Depression of the 21st Century by William Bonner and Addison Wiggin Richard Duncan Substack Theodore Roosevelt's ‘The Man in the Arena' Capital Account with Lauren Lyster Mark Moss on The Wiggin Sessions EP030 Market Disruptors Live Tristan Harris Tristan Harris on The Joe Rogan Experience The Social Dilemma Eric Schmidt on Hidden Forces EP218 A World Only Lit by Fire: The Medieval Mind and the Renaissance by William Manchester Ray Kurzweil Plato at the Googleplex: Why Philosophy Won't Go Away by Rebecca Goldstein Rebecca Goldstein on Hidden Forces EP069 ‘A Collective Mass Refusal to Work in Poor Conditions Is Driving the Labor Shortage' in Business Insider A Most Violent Year Speed Limits: Where Time Went and Why We Have So Little Left by Mark C. Taylor Land of Desire: Merchants, Power and the Rise of a New American Culture by William R. Leach

From early-bird corporate results for the July-September quarter, it might appear that India Inc is doing well in terms of sales, but there is a squeeze on margins, especially for manufacturing and consumer companies, as a result of higher input costs. So what does that mean for companies going forward?  *** In a recent industry event, RBI Deputy Governor T Rabi Shankar, said that India was on cusp of complete Capital Account Convertibility. While analysts see FPI inflows rising by $20 billion per year due to the move, there are a few red flags that the govt and the RBI need to address.  *** Ratings downgrades continue to pour in for India as valuations remain exceedingly high. After UBS, now Nomura has cut Indian equities' rating, as valuations have surpassed pre-Covid times. Will this valuation-based correction last? And which stocks are likely to be worst hit?  *** If an app is free to download, does it mean it is really and truly free? Often, we see that an app is listed as free on the Apple App Store and Google Play, but they have something called in-app purchases. What are these in-app purchases? Are they essential or incremental to the user experience?  *** Listen to these and more in today's Business Standard Morning Show podcast. Watch Video

RBI deputy governor T Rabi Shankar recently stirred the policy corridors with a debate around Capital Account Convertibility. Speaking at an industry event, he said there was an effort to liberalise FPI debt flows further with the introduction of the Fully Accessible Route, which places no limit on non-resident investment in specified benchmark securities. But what does Capital Account Convertibility mean? In simple terms, a capital account keeps a record of all the transactions related to assets between India and other countries.  This includes all kinds of investment assets like shares, debt, and property, or even corporate assets.  Currently, India has a partially convertible capital account policy. This is because an individual or high net-worth investor wanting to invest outside India can invest within an overall limit of $250,000 per financial year under the Liberalised Remittance Scheme for any permitted current or capital account transaction or a combination of both. This means, they can make investments to the tune of up to $500,000 in a calendar year. The scheme, however, is not available to corporates, partnership firms, HUF, Trusts, etc. Therefore, if India removes this limit on capital account transaction, we would have a fully convertible account, ideally raising outflow limits for HNIs. Now, before we proceed towards the likely impact of the move, let's understand why the RBI would want to remove capital account restrictions. A fully convertible capital account provides three key benefits. These are stock market returns, reduction in transaction cost due to free rupee convertibility, and improvement in savings and investments which effectively accelerates growth.  Against this backdrop, Aditi Nayar, chief economist at ICRA, says this following while assessing where India stands on the conversion front and what the impact of the move could be Govt, RBI working to get India included in the Global Bond Indices India liberalising norms related to G-sec investments India may see $20-bn inflows per year Rupee could depreciate That said, Gaurang Shah, senior vice-president at Geojit Financial Services, cautions against too much money chasing too few asset classes: Should be done in a phased manner India must have checks and balances in place Keeping a check on bad money (inflow) tough under full CAC Given the macro-recovery, we may see access FPI inflows Avoid too much money chasing too few asset classes Watch Video

Jimmy Patronis serves the citizens of the state of Florida as the state's Chief Financial Officer, State Fire Marshal, and member of the Florida Cabinet. Jimmy oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida's firefighters, and ensure the state's finances are stable to support economic growth in the state. TOPIC: Biden's Clumsy Political Warfare Now Risking Lives!! Dr. G. Keith Smith is a board certified anesthesiologist in private practice since 1990. In 1997, he co-founded The Surgery Center of Oklahoma, an outpatient surgery center in Oklahoma City, Oklahoma, owned by over 90 of the top physicians and surgeons in central Oklahoma. Dr. Smith serves as the medical director, CEO and managing partner while maintaining an active anesthesia practice. He has made appearances on the John Stossel Show, CNBC, Huffington Post, The O'Reilly Factor, Capital Account, The Ron Paul Channel, NBC Nightly News and has been featured by Reason Magazine's TV division. The New York Times, Time Magazine, ABC news, Forbes and many others have written articles featuring Dr. Smith's revolutionary approach to the pricing of health care and uncompromising free market principles. TOPIC: Medicare for Y'all!!

Welcome to Achieve Wealth Through Value Add Real Estate Investing Podcast with James Kandasamy.   Today my guest is Gene Trowbridge is a commercial real estate broker, CCIM, syndicator. An author, he wrote the book, it’s a whole new business.   Gene has extensive experience in commercial real estate investment and in the last six years,  his firm has authorized securities offering documents for more than $1.5B of equity raised.   Gene gives you a breakdown on structuring questions that general partners should be discussing with their syndication attorney. What’s your business plan? Where are the raised funds going to be invested in? How are the distributions going to handle? How much authority will the general partner have in this syndication? It is critical to understand your operating agreement documents and what authority the general partners have. Never forget to like and subscribe and press the bell icon for more useful videos.   ----------------------------------------------------------------------------------------------------------------- Get your copy of James #1 International Best Selling book – Passive Investing in Commercial Real Estate – https://amzn.to/2Ng35KE   -----------------------------------------------------------------------------------------------------------------   ☑️ Check out James Kandasamy at  

The RBI Governor recently said that India will continue to approach capital account convertibility as a process rather than an event. But what is capital account convertibility and how does it concern you? Listen to the podcast. Click here for more details --- Send in a voice message: https://anchor.fm/business-line/message

Welcome to Finance and Fury. Last Monday – talked about exchange rate basics Summary - There are a number of factors that go into analysis of the fundamental health of economies and the implications for currency movements – and in turn these can affect the exchange rates – Went through indicators that show the flows and trends of supply and demand - like the balance of payments (capital and current accounts) and the level of foreign reserves a country has – including economic indicators like inflation, interest rates, GPD – all go towards affecting the exchange rate movements – but these are only at a cross currency level when looking at say the AUD to USD Today – Look at some of the reasons behind movements of AUD to USD Major things to look at: Central bank policy – interest rates, inflation expectations – influence trading behaviours Trading positions – what professionals are betting on The trade markets – current account and capital accounts – historical data No way to accurately predict the movements minute to minute – reading tea leaves – so what do the leaves say   Starting with central bank policy - The AUD/USD exchange rate has been retracing some of its decline -   However – a small Reversal of this trend started following the Federal Open Market Committee (FOMC) Minutes being published - The Federal Open Market Committee- group within the Federal Reserve System responsible for overseeing the nation's open market operations - makes key decisions about interest rates and the growth of the United States money supply Shows the power of central bankers over currency – even based around their statements (not actions) currency exchange rates can move - AUD/USD pulled back from a fresh 2020 high of 0.7276 – this was due to that in the FOMC Minutes – the Fed foreshadowed a change in the monetary policy outlook- said they would employ an outcome-based approach versus a calendar-based forward guidance  Under ‘calendar-based guidance’, the central bank makes an explicit commitment not to increase interest rates until a certain point in time. Under ‘state-based guidance’ or outcome-based approach the central bank says that it will not increase interest rates until specific economic conditions are met. Feds reasoning - “a number of participants noted that providing greater clarity regarding the likely path of the target range for the federal funds rate would be appropriate at some point.” – but not at this stage Forward guidance is what markets respond to here – what central banks are pointing at for the decisions So the current market conditions may keep the exchange rate afloat as the crowding behaviour in the US Dollar looks poised to persist over the remainder of the month However, it seems as though the FOMC is in no rush to alter the course for monetary policy the committee vows to “increase its holdings of Treasury securities and agency residential and commercial mortgage-backed securities at least at the current pace,” Chairman Jerome Powell said that they will stick to the status quo at the next interest rate decision on September 16 as the central bank extends its lending facilities through the end of the year Back with Australia - At the same time, the Reserve Bank of Australia (RBA) Minutes suggest Governor Philip Lowe  will also retain the current policy at the next meeting on September 1 as “the downturn in the first half of the year had been smaller than predicted,” and the central bank may carry out a wait-and-see approach throughout the remainder of the year – so they have a outcome/state based approach as well The RBA is waiting for the likely effects now that the government’s fiscal stimulus programs like the Jobkeeper Payment have been extended for a further six-months. Looking at the interest rates - the RBA may continue to rule out a negative interest rate policy (NIRP) for Australia as “members agreed that the Bank's policy package was continuing to work broadly as expected,”  the limited scope for additional monetary stimulus may provide a backstop for AUD/USD as the FOMC shows little intentions of scaling back its non-standard measures in 2020. As a result, the Australian Dollar may continue to outperform its US counterpart as AUD/USD approaches the 2019 high (0.7295) – now the currency is above this – gone to 0.7366 and current market conditions may keep the exchange rate afloat as the crowding behaviour in the Greenback looks poised to persist for a little while yet – Everyone was jumping into safe investments – either USD or USD backed securities like treasuries – look at this late with the capital account RBA Governor Phillipe Lowe stated that “The Australian economy is going through a very difficult period and is experiencing the biggest contraction since the 1930’s. As difficult as this is, the downturn is not as severe as earlier expected and a recovery is now underway in most of Australia”.  When looking at the Aus interest rates - At the last RBA rate decision on August 4, officials chose to hold the overnight cash rate at 0.25 percent Also - maintained that same yield target for 3-year bonds – a few weeks ago, officials said they are prepared to adjust the stimulus package if the circumstances warranted it So policymakers believe that additional fiscal and monetary support may be necessary for some time However - if economic improvement continues better than expected – the need to introduce additional stimulus will reduce This may then push AUD higher if investors focus on swift recovery expectations But many things could upheave this – such as heightened geopolitical tensions between Australia and China – which could cap the currency’s gains The other thing that is being looked at - Economic Stabilization efforts As the statement by RBA Governor Phillipe Lowe states: “The outlook remains highly uncertain. The recovery is expected to be only gradual”. However – if the Governments re-imposes more aggressive lockdown measures – may create additional negative sentiment – affect things like current account This being said - may be offset may renewed risk appetite and signs of global stabilization. For a country like Australia – that has a cycle-sensitive currency based around trade and that is tied to an outward-facing or export economy - early signs of improvement in global trade is re-assuring The data to watch here are trading reports– such as PMI reports (Purchasing Managers' Index - shows prevailing direction of economic trends in the manufacturing and service sectors) – so if this is increasing and is coming out of developed and emerging markets – reinforces the notion of improvement, the Australian Dollar may rise However – if it is lower than anticipated or starts to decline – then the AUD may decline Major thing about economic stabilization – effect on currency movements will be to the magnitude of aggressive support by central banks But this come from flow on effect – such as how this affects business confidence and risk appetite – if this goes up - adds another upwards pressure on the AUD. Looking at Deutsche Bank’s Australian Dollar currency index compared to an AUD inflation swap zero coupon (10Y) shows price growth expectations rising in tandem Shows at the moment there is an underlying expectation that future economic activity will rise, and with it, price growth in the form of inflation – not hugely – back to around 2% So a change of tone in the RBA’s sense of urgency may magnify AUD’s gains - particularly if economic data domestically and in China – Australia’s largest trading partner – shows a brighter outlook and geopolitical tensions simmer down Traders – what is happening in currency markets between AUD/USD Sentiment reports - shows retail traders have been net-short AUD/USD since April – latest update showing 44.00% of traders are net-long the pair – which went up slightly – as there was a small decline in the net-short positions The recent rise in net-long position comes as AUD/USD bounces back from the previous low - while the decline in net-short interest could be indicative of stop-loss orders being triggered as the exchange rate trades to a fresh yearly highs – now at 0.7366 However - Overall – 26% of traders are bullish whilst 74% are bearish – but these traders are short termed focused – looking at the day/week price more so than a longer term trend Looking at the technical data - but the Relative Strength Index (RSI) – indicates if an asset is overbought or oversold – showing currency is slightly in the overbought territory. Keep in mind, the advance from the 2020 low (0.5506) gathered pace as AUD/USD broke out of the April range, with the exchange rate clearing the January high (0.7016) in June as the Relative Strength Index (RSI) pushed into overbought territory. AUD/USD managed to clear the June high (0.7064) during the previous month even though the RSI failed to retain the upward trend from earlier this year, with the oscillator pushing into overbought territory for the fourth time in late-July. The RSI started to indicate that there was an establishment of a bullish trend in July as AUD/USD traded to fresh yearly highs, but the indicator continues to deviate with price as it snaps trendline support after failing to push into overbought territory.   The trade markets – current account and capital accounts – historical data Balance of payments Current account – was positive for Aus – large exports being around $8.5bn worth next minus imports US – no shocker is still a mass importer – negative $50bn – so this is in Aus favour Capital Account – capital flows - negative $11.5bn for AUS – so some capital flight has been occurring AUs not going on holidays – more money being spent here – less overseas – may be a factor for exchange rates US saw a massive capital inflight in March – was close to $350bn in a month – since then has been on the decline as well Foreign reserves – AUD has declined – since March gone down from $90bn to $60bn USA – has risen – Went from $128bn in March to just under $140bn last month But still the major contributing factor seems to be the central banking policies at this stage   So in summary – Expect the currency to be volatile – Likely to go through periods of movements upwards above over time – but will have reversals along the way Central banks are playing a wait and see game – But this can be in Australia’s favour - with the Federal Reserve doing absolutely nothing to save the US dollar anytime soon, the AUD rising relative may be a trend that should continue to have legs going forward for the near future – obviously – if the US all of a sudden wish to raise their currency on the floating markets – they have deeper pockets – Alternatively – if conditions change – which they will – currency could go anywhere Thank you for listening to today's episode. If you want to get in contact you can do so here: http://financeandfury.com.au/contact/

Welcome to Finance and Fury. I’ve seen news about the AUD being at a 15-month high Today – wanted to do an episode on exchange rates and look at some of the fundamental driving factors in the price movements – next week put this together and look at the current trend and factors behind it In the modern financial world – most exchanges are floating exchange rates (excluding some nations – like china that have a semi pegged currency to the USD – or others that just use it outright) What are floating exchange rates - A floating exchange rate refers to a currency where the price is determined by supply and demand factors relative to other currencies These are traded on foreign exchange markets – or called forex for short - allow for 24/7 trading in currency pairs – actually the world's largest and most liquid asset market But it is the largest traded market in the world – only a relatively small number of currency pairs are responsible for the majority of volume and activity – essentially 20 – As of 2019 numbers with countries ranked in volume – US no 1 with 44%, EU no 2 with 16%, Yen – 8.5%, Pound with 6.5%, AUD number 5 with 3.5% - top 5 close to 80% In this market - Currencies are traded against one another as pairs – for example – when people talk about the AUD being at its 15 month high - against what? Well the reserve currency -USD – but what about other currencies Can have the USD/EUR, YEN/Frank - each pair is typically quoted in what is called pips (percentage in points) out to four decimal places While AUS to USD has gone to its 15 month high - return over the past 12 months has been 6% - against other currencies we are at a lower point – example – compared to the pound – down by about 0.71% over 12 months – Euro – about the same – 0.12% up over 12 months What does this say? Is it that the AUD is becoming more in demand, or the USD less – That is where it gets more complicated – as the movement of these pares is relevant to the factors that affect the price of each currency   How are the prices of these cross pairs affected – supply and demand of each currency The AUD might have more supply, or less demand compared to the USD – so the cross-currency pair gets pushed down in price Or when the world demands more US dollars - the value of the dollar increases and when there are too many dollars circulating without the demand to soak it up - the price drops It sounds relatively simple -   But What affects supply and demand – A whole range of factors - Currency prices can fluctuate based on the economic situation of each individual country involved in the pair – including things like geopolitical risk and instability, trade & financial flows, among other factors –   These are some major indicators of the state of supply and demand that can be looked at - Balance of payments – flows of foreign exchange – The balance of payments is a country's record of currency transactions across national borders – essentially payment data that comes out on a monthly or quarterly basis by a country's central bank The data is customarily divided into two main components: the current account, and the capital and financial account Current account – The current account balance measures the commercial transactions of goods and services It also includes any net foreign investment earnings and net international transfers of cash It is a representation of a national foreign trade balance showing total imports and exports- which is the net exchange of cross-border services Can include any import/export market – goods purchased, travel & tourism, payments for international shipments and transportation in a general - the flow of foreign trade is considered a key component of the current account balance - a country that is importing more than it exports from month-to-month will have a widening deficit on their current account The trend toward a current account deficit is considered an indication that foreign money is flowing out of a country and that a currency will likely weaken over time So if a country is a major importer from another nation – with everything else being equal (supply of money and no other trade partners) – then their currency will likely decline Capital Account – which is the other major component of the balance of payments basically a register of investments flowing in and out of a country - include direct investments and portfolio investments Direct investments - investments made in physical capital – can be real estate and property – natural resources - production facilities like factories, and machines and equipment Portfolio investment - investment in financial assets - like shares and government or corporate debt falls into categories of short- and long-term investment – referred to as "hot-money" This can increase the volatility of a currency – especially liquid investments like shares – imagine if the majority of the balance of payments was in shares – then foreign investors dump these shares – that is a lot of AUD converted back to other currencies and the demand for AUD drops - For both of these and why it affects demand – if you are going to be buying goods or services in AUD – you need to exchange your currency for AUD – similar to buying property or shares here – therefore you need to exchange your currency for AUD to make the purchase – which results in an increased demand for AUD Think about this in reverse – say you wanted to buy Apple or Amazon shares directly – you would need USD to buy these – so on an online exchange your AUD would be converted into USD – this would count towards the Capital account of the US These are all mostly on the demand side – sentiment and the amount of demand of currency changing hands Foreign reserves - balance of foreign money that has accumulated within a country because of goods and services transactions – is a good measure of if a countries currency is in demand or not If there is a large accumulated balance in foreign reserve - there is a positive sum of the current account and capital account balances These reserves can then be invested in bonds or other assets – such as with China – accumulated $3trn USD in reserves over the years – and turns around and uses this to buy US bonds – However – an accumulating reserve means you are normally receiving incoming foreign money – hence your currency will likely be on a strengthening trend – like china – but they can use this balance of reserves to defend against volatility and speculative attacks against their currencies by selling portions of the reserves – and help them to maintain their peg   Other major factors – these are more of economic indicators – which affect the demand and supply of a currency Inflation - is technically defined as an increase in the price of goods and services in an economy- however a high domestic inflation is generally considered to be a factor that prompts a weakening of currency over time against its peers - because of the economic principle of purchasing power parity is declining – so once you make for adjustments in an exchange rate – the real value of your currency relative to its international purchasing power of a currency is declining - Therefore - currencies in countries with higher than its peers inflation rates are considered to be good candidates to depreciate - Inflation in most developed economies that are considered "stable" is generally between 1 and 3% - however the exchange rates for currencies with much higher inflation will likely depreciate heavily Interest rates –this can be an indicator that influences currency trends – First – can affect the capital account – either increases or reduces the demand for investing in other nations capital markets -such as government and corporate debt securities – where the returns are determined by interest rates So if a central banks was to raise interest rates – they are likely going to be attracting incoming foreign money from investors who are seeking higher returns – this puts upwards pressure on the local currency The reverse is also true - when central banks lower interest rates, money may flow out of their economies and currencies may undergo weakening International fisher effect - Think about AUD to USD back between 2011 and 2013 – in 2011 was almost 5% - by 2013 – dropped to 3% - since then has kept declining – But in 2011 – to 2016 it was 0.25% in US – hence there was a higher demand for AUD Also – interest rate policy affects the supply of a currency – by the nature of central bank policies – OMO and even now QE – the amount of money introduced into the financial system and economy to keep rates low increases the supply of a currency – if it is tied up – not a problem – but if it is in either trade (current account) – or in investments (capital account) – and flows out of the country – can put a downwards pressure on the local currency Economic Activity - GDP Growth – the metrics that reflect an individual economy and the output – which is ultimately determined by the productivity of a country's private sector Looking at the GDP growth – can see an indicator of the level of economic activity in an economy – if the economy is growing – can attract investment and is a potential sign of currency strength But there isn’t much correlation here – can a weak currency can help to promote investment or exports as it is now cheaper -   This is just a few of the major factors – But when you add them all up – you can get an idea about likely trends – but there is no magic number working really forecasting a currency trend Can take the weight of all these factors together to show a path Hence why this data mentioned is constantly under review by analysts who trade these markets – and these large financial institutions do have the capacity to influence trends As they affect demand through buying or selling a particular currency Currency conditions and the demand/supply factors can change quickly – currency is very volatile – it is open 24/7 and the Other intangible factors – like currency wars – that is where this is outside of any pure economic indicator   Summary - There are a number of factors that go into analysis of the fundamental health of economies and the implications for currency movements – and in turn these can affect the exchange rates – Indicators like the balance of payments (capital and current accounts) and the level of foreign reserves a country has – including economic indicators like inflation, interest rates, GPD – all go towards affecting the exchange rate movements – but these are only at a cross currency level when looking at say the AUD to USD   Next episode on Monday – look at some numbers and factors that are in play with the AUD at the moment. Thank you for listening to today's episode. If you want to get in contact you can do so here: http://financeandfury.com.au/contact

Jonna Bianco is the president of the American Bondholders Foundation, LLC formed in 2001 to collect on the Chinese government’s pre-1949 debt held by some 20,000 U.S. families from 46 U.S. states. TOPIC: Don’t Count on Biden To Collect China’s Debt to the US!! Dr. G. Keith Smith is a board certified anesthesiologist and co-founded The Surgery Center of Oklahoma, in Oklahoma City, Oklahoma. He has made appearances on the John Stossel Show, CNBC, Huffington Post, The O’Reilly Factor, Capital Account, The Ron Paul Channel, NBC Nightly News and has been featured by Reason Magazine’s TV division. The New York Times, Time Magazine, ABC news, Forbes and many others have written articles featuring Dr. Smith’s revolutionary approach to the pricing of health care and uncompromising free market principles. TOPIC: Doctors Must Lead Post-COVID-19 Reforms!!

Jelly Donut Podcast #31 was recorded on Wednesday April 29th, 2020. Demetri Kofinas is a technology and media entrepreneur and the host of Hidden Forces, a popular podcast dedicated to uncovering the forces driving global events, technological innovations, market movements, and social changes. Demetri graduated from NYU in 2004 with a dual bachelors’ degree in Economics and Political Science. Throughout the course of his career he has held positions in financial services, interactive entertainment, television & theatre production, and various other forms of media and entertainment. His passion for markets, economics and storytelling led him to create a drive time radio program called Covering the Spread, which he hosted on 91.5FM WNYE New York. This subsequently led him to create and executive produce the popular international news program Capital Account, which was watched by hundreds of thousands of people around the world. https://twitter.com/CoveringDelta https://twitter.com/HiddenForcesPod https://hiddenforces.io/ --- Support this podcast: https://anchor.fm/jellydonutpodcast/support

Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, Bill Brewster and Jake Taylor. See our latest episodes at https://greenbackd.com/ About Bill: Bill runs Sullimar Capital Group, a family investment firm. Bill's website: https://sullimarcapital.group/ Bill's Twitter: @BillBrewsterSCG Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment. About Jake: Jake is a partner at Farnam Street. Jake's website: http://www.farnam-street.com/ Jake's podcast: https://twitter.com/5_GQs Jake's Twitter: https://twitter.com/farnamjake1 Jake's book: The Rebel Allocator https://amzn.to/2sgip3l ABOUT THE PODCAST Hi, I'm Tobias Carlisle. I launched The Acquirers Podcast to discuss the process of finding undervalued stocks, deep value investing, hedge funds, activism, buyouts, and special situations. We uncover the tactics and strategies for finding good investments, managing risk, dealing with bad luck, and maximizing success. SEE LATEST EPISODES https://acquirersmultiple.com/podcast/ SEE OUR FREE DEEP VALUE STOCK SCREENER https://acquirersmultiple.com/screener/ FOLLOW TOBIAS Website: https://acquirersmultiple.com/ Firm: https://acquirersfunds.com/ Twitter: https://twitter.com/Greenbackd LinkedIn: https://www.linkedin.com/in/tobycarlisle Facebook: https://www.facebook.com/tobiascarlisle Instagram: https://www.instagram.com/tobias_carlisle ABOUT TOBIAS CARLISLE Tobias Carlisle is the founder of The Acquirer’s Multiple®, and Acquirers Funds®. He is best known as the author of the #1 new release in Amazon’s Business and Finance The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market, the Amazon best-sellers Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014) (https://amzn.to/2VwvAGF), Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012) (https://amzn.to/2SDDxrN), and Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (2016) (https://amzn.to/2SEEjVn). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law. Prior to founding the forerunner to Acquirers Funds in 2010, Tobias was an analyst at an activist hedge fund, general counsel of a company listed on the Australian Stock Exchange, and a corporate advisory lawyer. As a lawyer specializing in mergers and acquisitions he has advised on transactions across a variety of industries in the United States, the United Kingdom, China, Australia, Singapore, Bermuda, Papua New Guinea, New Zealand, and Guam. He is a graduate of the University of Queensland in Australia with degrees in Law (2001) and Business (Management) (1999).

In Episode 112 of Hidden Forces, Demetri Kofinas speaks with Steve Keen one of the few economists to correctly anticipate the Global Financial Crisis of 2008, as well as the subsequent deflationary forces that would frustrate and confound policymakers in the years afterward. The two discuss Keen’s latest work modeling the impact of climate on economic output, as well as debunking some of the most common misperceptions about money and credit held by Keynesian and Austrian theorists alike. Demetri and Steve have known each other going back almost ten years. Dr. Keen was a frequent guest on Demetri’s old television program Capital Account, where he would come on to share his views on markets and the economy. For years, Steve had been warning policymakers and the media about the dangers of a build-up in private sector debt through mortgage refinancing and consumer credit. In the years after the Great Financial Crisis of 2008, Steve Keen was one of the prominent voices alongside folks like Richard Koo, Mark Zandi, and others, who were ringing the alarm bell, warning about the risk of a deflationary spiral. Many of the more prominent, Austrian-trained economists like Thomas Woods, Peter Schiff, and others, were pounding the table about the risk of hyperinflation. In retrospect, it was those economists warning about deflation like Steve Keen, who had it right. In today’s conversation, we explore the reasons why and examine if those conditions still hold to this present day. You can gain access to this week’s overtime segment, as well as to the transcript of Demetri’s conversation with Steve Keen through the Hidden Forces Patreon Page. All subscribers also gain access to our overtime feed, which can be easily be added to your favorite podcast application. Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Subscribe & Support the Podcast at http://patreon.com/hiddenforces Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod

Ray Keating looks at trade and international investment courtesy of the balance of payments. Keating explains the current account, the capital account, and more, and sums up that the U.S. runs a capital account surplus because it’s an attractive place to invest.

Lesson 44 – The Current and Capital Account and Exchange Rates (Chapter 17)

Author / Contributor bio: Dr. G. Keith Smith is a board certified anesthesiologist in private practice since 1990. In 1997, he co-founded The Surgery Center of Oklahoma, an outpatient surgery center in Oklahoma City, Oklahoma, owned by over 90 of the top physicians and surgeons in central Oklahoma. Dr. Smith serves as the medical director, CEO and managing partner while maintaining an active anesthesia practice. In 2009, Dr. Smith launched a website displaying all-inclusive pricing for various surgical procedures, a move that has gained him and the facility, national and even international attention. Many Canadians and uninsured Americans have been treated at his facility, taking advantage of the low and transparent pricing available. His most recent effort is the launch of the Free Market Medical Association which provides a platform where those seeking to obtain high quality and affordable health care can find free market-minded providers, both physicians and facilities. Operation of this free market medical practice, the standard for all who have embraced this practice approach, has gained the endorsement of policymakers and legislators nationally. More and more self-funded insurance plans are taking advantage of Dr. Smithâ??s pricing model resulting in significant savings to their employee health plans. His hope is for as many facilities as possible to adopt a transparent pricing model, a move he believes will lower costs and improve quality of care for all. He has made appearances on the John Stossel Show, CNBC, Huffington Post, The Oâ??Reilly Factor, Capital Account, The Ron Paul Channel, NBC Nightly News and has been featured by Reason Magazineâ??s TV division. The New York Times, Time Magazine, ABC news, Forbes and many others have written articles featuring Dr. Smithâ??s revolutionary approach to the pricing of health care and uncompromising free market principles.

Edward Chancellor is a financial historian, journalist and investment strategist.  In 2008, he joined GMO’s asset allocation team.  He graduated from Trinity College, Cambridge with first class honours in Modern History, and from St Antony's College, Oxford with a Masters of Philosophy in Modern History.  He is a former deputy US editor for Breakingviews.com, and worked for Lazard Brothers in the early 1990s.  Edward is the author of Capital Account, Devil Take the Hindmost, and Capital Returns.  Let’s start with the basics: what is the Capital Cycle theory?  I’d seen it explained in different ways over the years, but never this clearly and obviously.  I feel kind of dumb for not understanding sooner the seemingly larger investment implications of this theory.     What’s a real life example that most clearly illustrates a successful investment using the Capital Cycle theory framework?  Additionally, what do you make of the game theory aspects of individual companies faced with competition over-investing in their industry? How does the Capital Cycle theory of investment different from value investing?  Isn’t the goal of both to buy during peak pessimism?  For Capital Cycle, you’re buying when management is pessimistic and not re-investing in a low return environment.  For value investing, you’re buying when the market is depressed about the future prospects of the business.  What’s the difference, if there is one? Where have investors gone wrong when using the Capital Cycle theory?  I’m imagining a technologically obsolete industry facing extinction, say the wagonwheel industry.  At some point there were no real returns on invested capital in that business to be had.  Might we mistakenly expect a low point in the cycle to rebound when really it’s heading to zero? Other than in-person meetings to determine if the subject is even on their radar, how do you properly evaluate management’s capital allocation skills?  Let’s take Jeff Bezos.  He’s been re-investing in Amazon continually for a few decades with very distant future return prospects.  Is that good capital allocation or madness?  How can we tell the difference?  

Greg Ip is one of the best-known economics journalists in the US. He is currently chief economics commentator of The Wall Street Journal and writes about U.S. and global economic developments and policy each week in the Capital Account column and on Real Time Economics, the Wall Street Journal’s economics blog. From 2008 to January 2015, he was U.S. Economics Editor of The Economist magazine. Greg is the author of Foolproof: Why Safety Can Be Dangerous and How Danger Makes Us Safe as well as author of The Little Book of Economics: How the Economy Works in the Real World. In this episode you will learn: about the theme behind Greg Ip's latest book Foolproof. when the pursuit of safety lead us into danger? what forest fires have to do with Wall Street. the way we publicly and privately try to cope with risk and danger and how those choices can create unintended consequences. what American Football can teach us about the Fallacy of Composition. what past economic and financial crises have in common. how the financial system succeeded too well in making people feel their money was safe. if savings is actually bad for the economy. about Keynes’ Paradox of Thrift and how savings forces others to borrow. whether exchange traded funds (ETFs) will be the next financial catastrophe. how Paul Volcker's regulation of capital flows caused the growth of shadow banking. and much much more. Check out the show notes page at www.economicrockstar.com/gregip

Stansberry Radio welcomes its first ever female guest, RT America anchor Lauren Lyster. Lyster is the host of Capital Account - one of the most popular economic shows on the Internet. This isn’t the normal Q&A debate listeners are used to hearing... you won’t want to miss the game we played with Lauren!