Podcasts about jpmorgan chase ceo jamie dimon

Glenn breaks down a recent controversial statement by JPMorgan Chase CEO Jamie Dimon regarding cryptocurrency, Bitcoin, and the upcoming economic crisis. Border czar Tom Homan warned on Fox News that America is at the highest risk ever of another 9/11-type attack. Pat Gray joins Glenn and Stu to discuss NBC's newest nightly news anchor, Tom Llamas, who is replacing Lester Holt. The guys also discuss the 14th anniversary of Glenn Beck announcing he was leaving Fox News to form his own streaming network, which turned into BlazeTV. Democrats can't understand how new polling data continues to swing in conservatives' favor. Glenn speaks on the impact of the anti-Semitic attack in Boulder, Colorado, and the threat America currently faces. Sarah Adams, author of "Benghazi: Know Thy Enemy," joins to discuss the increasing possibility of America experiencing another 9/11-type attack. Glenn ponders when the "mistakes" our leaders continue to make stop being mistakes. Glenn and Stu further discuss the 14th anniversary of Glenn forming his streaming network and react to the media coverage from when he announced his departure from Fox News. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Rich Zeoli Show- Hour 2: 4:05pm- Anna Kelly—White House Deputy Press Secretary—joins The Rich Zeoli Show to the One Big Beautiful Bill Act. She reacts to Senate Majority Leader Chuck Schumer's (D-NY) inaccurate rant against the Republican bill where he baselessly claimed it would end “American energy dominance.” Many on the left continue to meltdown over every Trump-endorsed plan/policy. But during a recent interview, even JPMorgan Chase CEO Jamie Dimon advocated on behalf of the One Big Beautiful Bill—calling it essential for small business and strong economic growth. 4:30pm- Rich steals Justin's headset, Matt gets yelled at (as per usual), and Rich—with some help from the audience—relives some of his greatest injuries, including the time he was stung in the eye by a jellyfish! 4:45pm- In a series of articles published last week, The New York Times examined the Democrat Party's continued struggles appealing to the American electorate. Shane Goldmacher writes that Democrats “are still searching for the path forward”—noting that the party spent $20 million studying their “erosion” of support with “young men” specifically. In another article, Goldmacher—alongside June Kim and Christine Zhang—evaluate “how Donald Trump has remade America's political landscape.” They document that 435 counties across the country became more “Democratic” from 2012 and 2024—however, 2,678 counties became more “Republican.” Further complicating matters is the 2030 census which is expected to cause comfortably blue states to lose electoral votes as citizens move to red states. You can read the articles here: https://www.nytimes.com/2025/05/25/us/politics/democratic-party-voters.html. And here: https://www.nytimes.com/interactive/2025/05/25/us/politics/trump-politics-democrats.html.

The Rich Zeoli Show- Full Show (06/03/2025): 3:05pm- On Monday, statistician and political analyst Nate Silver shared a survey which indicates 45% of self-identifying “liberals” suffer from “poor” mental health—suggesting there could be a correlation between “excellent” mental health and conservative political views. 3:30pm- In a new article posted to his Substack, statistician and political analyst Nate Silver attempts to answer the question: why do young men dislike Democrats? Silver concludes that young males are largely ambitious, entrepreneurial, and strong believers in individualism. Contrarily, the Democrat Party is viewed as risk averse and overly controlling. Additionally, the Democratic Party's fixation with politically correct speech is perceived as restrictive and hostile towards humor. 3:50pm- During Tuesday's press briefing, Peter Doocy asked White House Press Secretary Karoline Leavitt about former President Joe Biden's reliance on the auto pen for pardons. Doocy's investigation concluded that Biden's authentic signature only appears on the former president's pardon of his son Hunter Biden. 4:05pm- Anna Kelly—White House Deputy Press Secretary—joins The Rich Zeoli Show to the One Big Beautiful Bill Act. She reacts to Senate Majority Leader Chuck Schumer's (D-NY) inaccurate rant against the Republican bill where he baselessly claimed it would end “American energy dominance.” Many on the left continue to meltdown over every Trump-endorsed plan/policy. But during a recent interview, even JPMorgan Chase CEO Jamie Dimon advocated on behalf of the One Big Beautiful Bill—calling it essential for small business and strong economic growth. 4:30pm- Rich steals Justin's headset, Matt gets yelled at (as per usual), and Rich—with some help from the audience—relives some of his greatest injuries, including the time he was stung in the eye by a jellyfish! 4:45pm- In a series of articles published last week, The New York Times examined the Democrat Party's continued struggles appealing to the American electorate. Shane Goldmacher writes that Democrats “are still searching for the path forward”—noting that the party spent $20 million studying their “erosion” of support with “young men” specifically. In another article, Goldmacher—alongside June Kim and Christine Zhang—evaluate “how Donald Trump has remade America's political landscape.” They document that 435 counties across the country became more “Democratic” from 2012 and 2024—however, 2,678 counties became more “Republican.” Further complicating matters is the 2030 census which is expected to cause comfortably blue states to lose electoral votes as citizens move to red states. You can read the articles here: https://www.nytimes.com/2025/05/25/us/politics/democratic-party-voters.html. And here: https://www.nytimes.com/interactive/2025/05/25/us/politics/trump-politics-democrats.html. 5:00pm- Lenore Skenazy—Contributing Editor for Reason, Founder of the Free-Range Kids Movement, and President of Let Grow—joins The Rich Zeoli Show to discuss her latest article, “Mom Arrested, Facing 5 Years in Prison for Leaving 8- and 10-Year-Old Boys at Home.” David DeLugas—Attorney & Executive Director Member of the Board Founder of Parents USA—is representing the Georgia mom and offers a legal update. You can learn more about the story here: https://reason.com/2025/05/29/mom-arrested-facing-5-years-in-prison-for-leaving-8-and-10-year-old-boys-at-home/. And here: https://www.pledge.to/ParentsUSA-Kids-alone-Mom-arrested. 5:25pm- During a conversation on Matt Taibbi's podcast, novelist Walter Kirn revealed that George Orwell's “1984” now comes with a trigger warning! 5:40pm- Jimmy Failla—Host of “Fox News Saturday with Jimmy Failla” & “Fox Across America”—joins The Rich Zeoli Show to discuss their frequent appearances together on Fox News. Failla will be performing at SoulJoel's in Montgomery County, PA on August 9th. You can find information about tickets here: https://radio. ...

The White House and Beijing are trading salvos in the trade war over broken agreements and threats over semiconductor exports. Plus, JPMorgan Chase CEO Jamie Dimon has a dire warning for the bond market that all investors need to hear. And with Elon Musk wrapping up his time as a special government employee, we ask Wedbush's Dan Ives about what it means for Tesla's future.

JPMorgan Chase CEO Jamie Dimon lays out a global market triple threat he says most investors are ignoring right now. Plus, the rising rate risk and its impact on two critical parts of the U-S Economy.  And Later, futures are modestly lower this morning following yesterday modest gains. 

JPMorgan Chase CEO Jamie Dimon sat down for an exclusive interview with FOX 11's Elex Michaelson in Pacific Palisades. He spoke about rebuilding California, Trump's tariffs, the entertainment industry, and more.

After a Thursday sell-off that negated much of Wednesday's historic rally in stocks, David Faber and Jim Cramer discussed what's next for investors after a volatile week for equities and the 10-year Treasury yield topping 4.5-percent. China retaliates against the U.S. by raising tariffs on American goods to 125-percent. The financial sector kicks off earnings season with quarterly results from JPMorgan Chase, Wells Fargo, BlackRock and Morgan Stanley. BlackRock CEO Larry Fink joined the anchors at Post 9 and offered his take on issues including tariffs, inflation and market volatility. Also in focus: JPMorgan Chase CEO Jamie Dimon's earnings call comments on tariffs and recession risks. Squawk on the Street Disclaimer

At 12:01 a.m. on Wednesday, President Donald Trump's new round of tariffs took effect, slapping imports from China with a 104% tax and escalating what is shaping up to be a global trade war with no clear off-ramp. China did not back down, instead retaliating by more than doubling its tariffs on U.S. goods from 34% to 84%. The ripple effects were immediate: Wall Street tumbled and global markets lost trillions of dollars. JPMorgan Chase CEO Jamie Dimon is already bracing for a recession, warning that a downturn is now the likely outcome of this economic brinkmanship. The Dow Jones industrial average fell more than 2,000 points, and Treasury yields rose sharply—classic signs of investor panic. And the tariffs are not limited to China. Trump's so-called "Liberation Day" tariff plan now affects more than 60 countries with new import duties. He has also hinted that pharmaceuticals may be next in line for tariffs. Learn more about your ad choices. Visit megaphone.fm/adchoices

Markets are still reeling after President Donald Trump announced sweeping tariffs last week, and business leaders, including JPMorgan Chase CEO Jamie Dimon, are speaking out. Kai Ryssdal is back from vacation, and he’s not impressed. Get ready for a rant. Plus, the conservative and libertarian groups splitting from Trump over his trade policies. And, our thoughts on last weekend’s nationwide “Hands-Off!” protests. Here's everything we talked about today: “JPMorgan CEO Jamie Dimon Warns Tariffs Will Raise Prices, Slow Growth” from The Wall Street Journal “Jamie Dimon says Trump’s tariff policy is positive for national security so people should ‘get over it’“ from CNBC “New tariffs could spell major trouble for global economy” from the Competitive Enterprise Institute “Trump's Tariffs Are an Economic Emergency for Americans” from the American Enterprise Institute “Brace for Impact, America. Trump's Tariffs Will Soon Hit Your Bank Accounts” from the Cato Institute Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Markets are still reeling after President Donald Trump announced sweeping tariffs last week, and business leaders, including JPMorgan Chase CEO Jamie Dimon, are speaking out. Kai Ryssdal is back from vacation, and he’s not impressed. Get ready for a rant. Plus, the conservative and libertarian groups splitting from Trump over his trade policies. And, our thoughts on last weekend’s nationwide “Hands-Off!” protests. Here's everything we talked about today: “JPMorgan CEO Jamie Dimon Warns Tariffs Will Raise Prices, Slow Growth” from The Wall Street Journal “Jamie Dimon says Trump’s tariff policy is positive for national security so people should ‘get over it’“ from CNBC “New tariffs could spell major trouble for global economy” from the Competitive Enterprise Institute “Trump's Tariffs Are an Economic Emergency for Americans” from the American Enterprise Institute “Brace for Impact, America. Trump's Tariffs Will Soon Hit Your Bank Accounts” from the Cato Institute Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

It's Panic Monday on Wall Street. The Dow Jones Industrial Average has plunged 1,200 points, the S&P 500 is down nearly 4%, and the Nasdaq composite is deep in the red, adding to the worst financial week since COVID-19 rocked the world in 2020. The latest sell-off: blame it on President Donald Trump's new round of tariffs. He's digging in on his trade war and the global economy is reeling. Hong Kong stocks nosedived 13%, the worst day since 1997. In Europe, Germany's DAX dropped more than 10% at the bell and U.S. crude oil prices briefly dipped below $60 a barrel, the lowest since 2021. JPMorgan Chase CEO Jamie Dimon warns the tariffs will slow down growth and fuel inflation. Goldman Sachs says the fallout may already be irreversible, even if Trump backtracks. But Trump's not backing down. On Truth Social, he called tariffs "medicine" and blamed past leaders for allowing this to happen. Markets are shaky, global trust is cracking, and the president is doubling down. Learn more about your ad choices. Visit megaphone.fm/adchoices

JPMorgan Chase CEO Jamie Dimon sounded off on CNBC today, saying the economy is “normalizing” a bit. And Warren Buffett is piling up a record mountain of cash. We'll tie it all together for your and your money.

CPI comes in HOT, PPI not as bad Retail sales - not a happy number for January News on GameStop DOGE is full attack mode (Dismantling) PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter  Warm-Up - CPI comes in HOT, PPI not as bad - Retail sales - not a happy number for January - News on GameStop - - DOGE is full attack mode (Dismantling) - The Winner of the ORCL CTP Markets - The call it dumb money - ruling again - More earnings - driving markets - Buying holding tight - tariffs are not worrisome| - Intel parts up for grabs? Retail Sales - According to reports: Consumers sharply curtailed their spending in January, indicating a potential weakening in economic growth ahead, according to a Commerce Department report last Friday. - Retail sales slipped 0.9% for the month from an upwardly revised 0.7% gain in December, even worse than the Dow Jones estimate for a 0.2% decline. The sales totals are adjusted for seasonality but not inflation for a month in which prices rose 0.5%. - Excluding autos, prices fell 0.4%, also well off the consensus forecast for a 0.3% increase. - A "control" measure that strips out several nonessential categories and figures directly into calculations for gross domestic product fell 0.8% after an upwardly revised increase of 0.8%. Other Economics - In other economic news Friday, the Bureau of Labor Statistics reported that import prices accelerated 0.3% in January, in line with expectations for the largest one-month move since April 2024. On a year-over-year basis, import prices increased 1.9%. - Fuel prices increased 3.2% on the month, also the biggest gain since April 2024. Food, feed and beverage costs rose 0.2% following a 3% surge in December. - Export prices also increased, rising 1.3%. Back to Work - President Trump was very vocal about people who work from home. Said they they are really not working - “I happen to be a believer that you have to go to work. I don't think you can work from home. - “Nobody's going to work from home, they're going to be going out, they're gonna play tennis, they're gonna play golf. They're gonna do a lot of things—they're not working.” --- Question: Doesn't President Trump work from home? -----JPMorgan Chase CEO Jamie Dimon scorned calls from some employees to soften the bank's five-day return-to-office policy in an animated town hall meeting last week, according to a recording reviewed by Reuters. - Employees at the largest U.S. bank have complained on internal message boards and chats about losing hybrid working arrangements, and one group launched an online petition urging Dimon to reconsider. Unions - NOPE - Amazon workers at a facility near Raleigh, North Carolina, overwhelmingly voted against unionizing on Saturday. - Of the 3,276 ballots cast, there were 2,447 votes opposing the union and 829 in favor, according to Carolina Amazonians United for Solidarity and Empowerment (CAUSE), the group seeking to represent workers. The results still need to be certified by the National Labor Relations Board. China - Tariffs of their own - China's finance ministry said Tuesday it will impose 15% tariffs on coal and liquified natural gas imports from the U.S. and 10% duties on crude oil, farm equipment and certain cars, starting Feb. 10. - The tariffs announcement comes as the additional 10% U.S. tariffs on Chinese exports came into effect on Tuesday stateside. Speaking of Tariffs Reciprocal Tariffs - what are they? . Essentially, it's a "tit-for-tat" approach to trade: if Country A charges a 10% tariff on goods from Country B, then Country B will impose a 10% tariff on goods from Country A - President Trump recently signed a memorandum directing...

The Department of Justice is in turmoil over President Trump's desire to dismiss corruption charges against New York City Mayor Eric Adams. CNN Michael Smerconish shares his take on the slew of recent DOJ resignations. Elie Honig, CNN Senior Legal Analyst and former Assistant U.S. Attorney for the Southern District of New York, says U.S. Attorney General Pam Bondi has a management and leadership problem. Ukraine's President Zelensky is vowing that his war-torn nation isn't accepting any deals made between Russia and the U.S. without his involvement. Mixed messaging from Trump, Vance, and Hegseth makes the future of Ukraine's NATO membership uncertain. Finally, leaked audio recordings from JPMorgan Chase CEO Jamie Dimon spotlights his unfiltered take on remote work policies in the nation's largest bank.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

It's Thursday, January 30th, A.D. 2025. This is The Worldview in 5 Minutes heard on 125 radio stations and at www.TheWorldview.com.  I'm Adam McManus. (Adam@TheWorldview.com) By Jonathan Clark and Adam McManus Pastor in India and wife face five years in prison for evangelizing Last Wednesday, officials in India convicted a Christian couple for evangelizing the Dalit community. Members of the community are known as the “untouchables,” representing the lowest stratum of the country's caste system. Officials charged Pastor Jose Pappachan and his wife, Sheeja, with violating the Uttar Pradesh Prohibition of Unlawful Religious Conversion Act. They now face five years in prison and the equivalent of hundreds of dollars in fines.  International Christian Concern notes, “Dalits are socially, economically, and historically marginalized communities predominantly in India. Traditionally, the Dalits have easily embraced Christianity to escape the repressive caste system.” Chilean lawmakers commit to oppose abortion Last Tuesday, lawmakers in Chile signed a Commitment for Life document, reports Evangelical Focus.  Members of several different parties signed the document in response to the government considering a law to legalize abortion. Parliamentarian Mauro González said, “We are a large majority that defends life, and we will continue to advocate for the ethical, moral and Christian principles that are part of our essence and culture.” Blackhawk helicopter collides with American Airlines jet over Potomac River In the United States, on Wednesday evening around 9:00pm ET, an American Airlines Eagle passenger jet, and an Army Blackhawk helicopter collided and crashed into the Potomac River near Reagan National Airport, reports NBC News.  Flight 5342 from Wichita, Kansas had 64 people aboard and the helicopter carried three soldiers. One eyewitness made reference to the American Airlines flight, calling it a CRJ, which means Canadian Regional Jet. Listen. EYEWITNESS: “The accident happened in the river. Both the helicopter and the plane crashed in the river east of the end of runway 33. It was probably out in the middle of the river. I just saw a fireball, and then it was just gone. So, I haven't seen anything since they hit the river. But it was a CRJ [Canadian Regional Jet] and a helicopter that hit, I would say, maybe a half mile off the approach end of [runway] 33.” At least four people have been recovered and were rushed to hospitals. A frantic search to find crash victims in the river was underway within minutes. Last night, the temperature of the Potomac River was 35 degrees Fahrenheit. At 35 degrees, the human body core temperature quickly drops and exhaustion, hypothermia, and unconsciousness can occur in as little as 15 to 30 minutes. At 9:15pm, Reagan Airport announced, “All takeoffs and landings have been halted.” Trump ensures gov't won't fund transgender surgeries for kids In the United States, President Donald Trump issued an executive order on Tuesday entitled, “Protecting Children from Chemical and Surgical Mutilation.”  The order keeps the federal government from funding transgender drugs and surgeries for people under the age of 19.  The order states, “Across the country today, medical professionals are maiming and sterilizing a growing number of impressionable children under the radical and false claim that adults can change a child's sex through a series of irreversible medical interventions. This dangerous trend will be a stain on our Nation's history, and it must end.” In Mark 10:6, Jesus said, “But from the beginning of the creation, God ‘made them male and female.'" Trump confronts Bank of America CEO over debanking conservatives President Trump addressed the World Economic Forum being held in Davos, Switzerland last week. And he didn't pull any punches. Trump made comments via remote video from Washington, D.C. In one comment, he rebuked major financial institutions for “debanking” conservatives and faith groups. Trump specifically called out Bank of America CEO Brian Moynihan and JPMorgan Chase CEO Jamie Dimon. TRUMP: “I hope you start opening your bank to conservatives because many conservatives complain that the banks are not allowing them to do business within the bank, and that included a place called Bank of America. They don't take conservative business. I don't know if the regulators mandated that because of Biden or what. But you and Jamie and everybody, I hope you're going to open your banks to conservatives, because what you're doing is wrong.” After several awkward seconds, Brian Moynihan, the CEO of Bank of America, offered the king of all non sequiturs, failing to address Trump's direct concern at all. MOYNIHAN: “Mr. President, I'll say that your friend Gianni [Infantino] said hello, told me to tell you hello, and we look forward to sponsoring the World Cup when it comes both this summer for the club and next year. So, thank you for getting that for the United States.” A prominent example of such “debanking” was Chase Bank's decision to close the account of The National Committee for Religious Freedom in 2022. Trump looks to cut $100 billion through federal workforce The Trump administration is offering buyouts to federal workers to shrink the size of the government. Ahead of planned downsizing, the administration is offering federal employees to voluntarily resign by February 6. They would still receive pay through September. The administration expects 5-10% of the federal workforce to quit. This would save around $100 billion.  American kids less competent in reading The National Center for Education Statistics released their latest report card for the U.S. American kids are still growing less competent in their reading skills and have made little progress in math. This continues the decline of academic results since school closures during the COVID-19 pandemic.  The report also highlights a growing divide between higher- and lower-performing students with the gap being wider than ever. Nondenominational churches increasing and growing And finally, most U.S. denominations are experiencing decline, but nondenominational Protestant churches are on the rise. Nearly 35% of American Protestants identified as nondenominational in 2022, up from less than 3% in the early 1970s. Also, the number of nondenominational churches increased by nearly 9,000 over the last decade. This growth comes despite the number of practicing Christians being on the decline in the U.S. Professor Ed Stetzer, the former head of Lifeway Research group told The Washington Times, “The percentage of practicing Christians is declining, but those who remain tend to create a more serious expression of their faith. . . . Millennials and Gen Z Christians, in particular, are showing signs of greater commitment, even as they navigate a cultural landscape where being religious sometimes comes with a price.” In Matthew 16:24, Jesus said, “If anyone desires to come after Me, let him deny himself, and take up his cross, and follow Me.” Close And that's The Worldview on this Thursday, January 30th, in the year of our Lord 2025. Subscribe by Amazon Music or by iTunes or email to our unique Christian newscast at www.TheWorldview.com. Or get the Generations app through Google Play or The App Store. I'm Adam McManus (Adam@TheWorldview.com). Seize the day for Jesus Christ.

Dave Rubin of “The Rubin Report” talks about the World Economic Forum's Klaus Schwab resorting to scare tactics about the threats to the world that he sees in 2025; attendees of the World Economic Forum pushing for more desperate measures, like ending anonymity on the internet and censoring any speech deemed “far right” after realizing they are losing the culture war; “Pod Save America's” Tommy Vietor explaining to “Morning Joe's” Mika Brzezinski how the tide is turning and liberal mainstream media is losing in the war against online conservative media; JPMorgan Chase CEO Jamie Dimon telling CNBC's Andrew Ross Sorkin why he made up with Elon Musk and why he has high hopes for the Department of Government Efficiency; Pierre Poilievre humiliating a CTV News host by turning his question about Donald Trump's executive order on two genders back on him; Mike Johnson telling Fox News' Sean Hannity why federal aid to California for the Los Angeles wildfires will most likely have some strings attached due to severe mismanagement; Eric Swalwell telling the “All-In Podcast's” Chamath Palihapitiya why Mark Cuban may be the final hope for the Democratic Party; and much more. Dave also does a special “ask me anything” question-and-answer session on a wide-ranging host of topics, answering questions from the Rubin Report Locals community. Check out the NEW RUBIN REPORT MERCH here: https://daverubin.store/ ---------- Today's Sponsors: Rumble Premium - Corporate America is fighting to remove speech, Rumble is fighting to keep it. If you really believe in this fight Rumble is offering $10 off with the promo code RUBIN when you purchase an annual subscription, Go to: https://Rumble.com/premium/RUBIN and use promo code RUBIN Lean - A powerful weight loss supplement with remarkable results to help lower blood sugar, burn fat by converting it into energy, and curb your appetite. Rubin Report viewers get 15% off plus free rush shipping Go to: https://TakeLean.com and enter promo code DAVE15 for your discount Wrinkle Filler - Take years, or even decades off your appearance in under 2-minutes. Watch Dr. Layke's step-by-step video free and uninterrupted. Go to: https://BHMD1.com/Rubin Learn more about your ad choices. Visit megaphone.fm/adchoices

At the World Economic Forum in Davos, Switzerland, Andrew Ross Sorkin sits down for an extended interview with JPMorgan Chase CEO Jamie Dimon. He weighs in on President Trump's second term and his plan for tariffs, American political sentiment, the impact of geopolitics on finance.  Jamie Dimon - 04:25 In this episode:Andrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

The Trump-backed, multibillion-dollar AI initiative “Stargate” answers some key questions about the AI trade, according to one analyst. Plus, JPMorgan Chase CEO Jamie Dimon says a strong dollar isn't bad, but P&G's CEO says it isn't good either, and our market guest says staying small helps avoid it altogether. And the CEO of Chuck E. Cheese's parent company joins us with the latest on their turnaround efforts after filing for, and emerging from, bankruptcy in 2020.

Allegations have surfaced suggesting that JPMorgan Chase CEO Jamie Dimon was aware of Jeffrey Epstein's criminal activities prior to Epstein's 2019 arrest. Internal communications from 2008 reference a "pending Dimon review" concerning Epstein's accounts, indicating that the CEO may have been informed about Epstein's legal issues following his 2008 conviction for soliciting prostitution from a minor. Despite this, Epstein remained a client of JPMorgan until 2013. In response to lawsuits alleging the bank's complicity in Epstein's sex trafficking operations, Dimon testified in a 2023 deposition that he had no recollection of knowing Epstein or being aware of his crimes until media reports emerged in 2019.Critics argue that Dimon's professed lack of awareness is implausible, given his leadership role and the documented internal discussions about Epstein's accounts. The U.S. Virgin Islands government, in its lawsuit against JPMorgan, contends that the bank, under Dimon's direction, ignored clear warning signs and continued to profit from its relationship with Epstein. This situation raises serious questions about the ethical responsibilities of financial institutions and their executives in monitoring and reporting illicit activities of their clients.to contact me:bobbycapucci@protonmail.com

Allegations have surfaced suggesting that JPMorgan Chase CEO Jamie Dimon was aware of Jeffrey Epstein's criminal activities prior to Epstein's 2019 arrest. Internal communications from 2008 reference a "pending Dimon review" concerning Epstein's accounts, indicating that the CEO may have been informed about Epstein's legal issues following his 2008 conviction for soliciting prostitution from a minor. Despite this, Epstein remained a client of JPMorgan until 2013. In response to lawsuits alleging the bank's complicity in Epstein's sex trafficking operations, Dimon testified in a 2023 deposition that he had no recollection of knowing Epstein or being aware of his crimes until media reports emerged in 2019.Critics argue that Dimon's professed lack of awareness is implausible, given his leadership role and the documented internal discussions about Epstein's accounts. The U.S. Virgin Islands government, in its lawsuit against JPMorgan, contends that the bank, under Dimon's direction, ignored clear warning signs and continued to profit from its relationship with Epstein. This situation raises serious questions about the ethical responsibilities of financial institutions and their executives in monitoring and reporting illicit activities of their clients.to contact me:bobbycapucci@protonmail.com

Allegations have surfaced suggesting that JPMorgan Chase CEO Jamie Dimon was aware of Jeffrey Epstein's criminal activities prior to Epstein's 2019 arrest. Internal communications from 2008 reference a "pending Dimon review" concerning Epstein's accounts, indicating that the CEO may have been informed about Epstein's legal issues following his 2008 conviction for soliciting prostitution from a minor. Despite this, Epstein remained a client of JPMorgan until 2013. In response to lawsuits alleging the bank's complicity in Epstein's sex trafficking operations, Dimon testified in a 2023 deposition that he had no recollection of knowing Epstein or being aware of his crimes until media reports emerged in 2019.Critics argue that Dimon's professed lack of awareness is implausible, given his leadership role and the documented internal discussions about Epstein's accounts. The U.S. Virgin Islands government, in its lawsuit against JPMorgan, contends that the bank, under Dimon's direction, ignored clear warning signs and continued to profit from its relationship with Epstein. This situation raises serious questions about the ethical responsibilities of financial institutions and their executives in monitoring and reporting illicit activities of their clients.to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.

Stock, dollar and cryptocurrency buyers may have calmed down from their initial excitement over Donald Trump’s re-election. But bankers are still in a party mood, says JPMorgan Chase CEO Jamie Dimon. He made that comment yesterday at a global forum in Peru, where leaders of major economies have gathered. Also on the program: U.S. jobless claims hit a six-month low, and South Korea’s TV and film industry faces significant challenges.

Stock, dollar and cryptocurrency buyers may have calmed down from their initial excitement over Donald Trump’s re-election. But bankers are still in a party mood, says JPMorgan Chase CEO Jamie Dimon. He made that comment yesterday at a global forum in Peru, where leaders of major economies have gathered. Also on the program: U.S. jobless claims hit a six-month low, and South Korea’s TV and film industry faces significant challenges.

The New York Stock Exchange has announced plans to extend after-hours trading. Pending regulators' approval, its electronic platform could be accessible 22 hours a day Monday through Friday, as it looks to compete with online trading platforms like Robinhood. Then: some profanity-laden remarks from JPMorgan Chase CEO Jamie Dimon over federal regulation. Plus, data shows the U.S. economy is king of the hill, top of the heap, a No. 1. Why doesn’t it always feel that way?

The New York Stock Exchange has announced plans to extend after-hours trading. Pending regulators' approval, its electronic platform could be accessible 22 hours a day Monday through Friday, as it looks to compete with online trading platforms like Robinhood. Then: some profanity-laden remarks from JPMorgan Chase CEO Jamie Dimon over federal regulation. Plus, data shows the U.S. economy is king of the hill, top of the heap, a No. 1. Why doesn’t it always feel that way?

On this week's Stansberry Investor Hour, Dan and Corey welcome Marc Chaikin back to the show. Marc is a Wall Street veteran with 50-plus years of total market experience. He's also the founder and CEO of our corporate affiliate, Chaikin Analytics. He joins the show to share some of his vast wisdom with listeners, from the hottest sectors around to why you shouldn't get spooked by all the volatility. Marc kicks off the show by making his bullish case for the markets. However, he notes that this rising tide has not lifted all boats equally... He lists off several sectors that are particularly attractive to him today, plus a few he's staying away from. Marc also talks a bit about JPMorgan Chase CEO Jamie Dimon's prediction for a financial hurricane, the outlook for energy stocks, what's going on in China to make stocks so volatile, how the Federal Reserve has been doing, and the U.S.'s shift from a manufacturing economy to a service economy. (0:39) Next, Marc emphasizes that the key to profiting as an investor is to avoid making broad economic predictions. He says that different sets of data can give you conflicting signals, so it's not worth your time trying to guess the unknowable future. Instead, you should pay attention only to momentum and earnings. Marc then criticizes financial reporting by the mainstream media, advises listeners to take advantage of current volatility rather than run from it, and highlights the bullish setups in nuclear and software stocks thanks to AI. (18:56) Finally, Marc urges investors to not get bearish while the S&P 500 Index is having its best year since 1997. He points out that, as the dot-com mania showed us, the bull run can continue for several more years. As long as profit margins continue to rise, you want to be invested. He also explains how he uses his Power Gauge system to avoid doomed stocks. This leads to a conversation about Marc's new upcoming newsletter that will focus on what the "smart money" is buying and allow him to spot "pockets of strength." Plus, Marc weighs in on mining stocks. (38:38)

On this week's Stansberry Investor Hour, Dan and Corey welcome Marc Chaikin back to the show. Marc is a Wall Street veteran with 50-plus years of total market experience. He's also the founder and CEO of our corporate affiliate, Chaikin Analytics. He joins the show to share some of his vast wisdom with listeners, from the hottest sectors around to why you shouldn't get spooked by all the volatility. Marc kicks off the show by making his bullish case for the markets. However, he notes that this rising tide has not lifted all boats equally... He lists off several sectors that are particularly attractive to him today, plus a few he's staying away from. Marc also talks a bit about JPMorgan Chase CEO Jamie Dimon's prediction for a financial hurricane, the outlook for energy stocks, what's going on in China to make stocks so volatile, how the Federal Reserve has been doing, and the U.S.'s shift from a manufacturing economy to a service economy. (0:39) Next, Marc emphasizes that the key to profiting as an investor is to avoid making broad economic predictions. He says that different sets of data can give you conflicting signals, so it's not worth your time trying to guess the unknowable future. Instead, you should pay attention only to momentum and earnings. Marc then criticizes financial reporting by the mainstream media, advises listeners to take advantage of current volatility rather than run from it, and highlights the bullish setups in nuclear and software stocks thanks to AI. (18:56) Finally, Marc urges investors to not get bearish while the S&P 500 Index is having its best year since 1997. He points out that, as the dot-com mania showed us, the bull run can continue for several more years. As long as profit margins continue to rise, you want to be invested. He also explains how he uses his Power Gauge system to avoid doomed stocks. This leads to a conversation about Marc's new upcoming newsletter that will focus on what the "smart money" is buying and allow him to spot "pockets of strength." Plus, Marc weighs in on mining stocks. (38:38)

Dave Rubin of “The Rubin Report” talks about Justin Trudeau's appearance on “The Late Show with Stephen Colbert,” where he raved about how amazing universal health care in Canada is while leaving out any details about the various shortages of health essentials like MRI machines; “Shark Tank's” Kevin O'Leary telling the Nelk Boys at the “Full Send Podcast” how Justin Trudeau is driving Canada into the ground; the “All-In Podcast's” Jason Calacanis being publicly humiliated by Megyn Kelly's legal knowledge of the inner workings of the various Trump trials; JPMorgan Chase CEO Jamie Dimon telling CNBC's "Squawk Box" hosts how the border crisis has woken up his liberal NY friends about the dangers of illegal immigration; “Shark Tank's” Kevin O'Leary telling Fox News' Sandra Smith why Kamala Harris' economic plan appears to be meaningless smoke and mirrors; “Real Time with Bill Maher's” Bill Maher not knowing what to think of Bjørn Lomborg's data-backed correction of the media's narrative about the death of the Great Barrier Reef; and much more. WATCH the MEMBER-EXCLUSIVE segment of the show here: https://rubinreport.locals.com/ Check out the NEW RUBIN REPORT MERCH here: https://daverubin.store/ ---------- Today's Sponsors: Kids Emergency Kit - This prescription Emergency Kit from The Wellness Company provides you with a carefully selected assortment of 6 critical medicines like Amoxicillin, Ivermectin, EpiPen and Ofloxacin. Rubin Report viewers save $60 at checkout when they use code: RUBIN. Kits are ONLY AVAILABLE IN THE USA. Go to: https://TWC.health/RUBIN and use CODE: RUBIN Moink - Join the Moink movement today! Get grass-fed and grass-finished beef and lamb, pastured pork and chicken, and wild-caught Alaskan salmon, direct to your door. Rubin Report listeners and viewers will get get free hot rolls in your first order! Go to https://www.moinkbox.com/RUBIN River Financial Inc. - Protect your family and finances from inflation and government printing with Bitcoin. Unlike many crypto exchanges, River holds all client Bitcoin securely in 1:1 reserve and has the best-in-class cold storage. Go to: https://river.com/rubinreport 1775 Coffee - Their new Protein Creamer is a game-changer. With 10 grams of whey protein per serving. Rubin Report viewers get 15% off their order. Go to: https://1775coffee.com/RUBIN and use code RUBIN Learn more about your ad choices. Visit megaphone.fm/adchoices

One day after the Dow and S&P 500 hit new record highs, Carl Quintanilla, Jim Cramer and David Faber discussedWednesday's big Fed decision -- as market watchers debate whether to expect a rate cut of 25 basis points, or 50. AI on center stage at Dreamforce: The anchors reacted to what Nvidia CEO Jensen Huang said at the event – and what Salesforce CEO Marc Benioff told Jim on "Mad Money" about how companies have been "hypnotized." Also in focus: BlackRock and Microsoft launch a new AI partnership, JPMorgan Chase CEO Jamie Dimon tells college students TikTok and Facebook are "a waste of time," JPM reportedly in talks with Apple to take over the tech giant's credit card from Goldman Sachs. Squawk on the Street Disclaimer

Watch The X22 Report On Video No videos found Click On Picture To See Larger Picture The people know that the economy is getting worse, the people are going to see very soon that the entire system was a gigantic illusion. Gold is acting like the economy is in trouble or a crisis is coming. Trump announce no taxes on overtime, inching his way to remove taxes and remove the [CB]. It is now being reported that [KH] got the questions and ABC assisted her in the debate, this is election interference, they should be prosecuted. The insurgency is being exposed, the people are now seeing the who are the liars and who are the truth tellers, soon people will see it all. More and more people are walking through the door that Trump opened and they are doing it on their own. The great awakening continues. (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); Economy Pew Poll: Only 25% Rate Current Economic Conditions ‘Excellent or Good'  Only 25 percent of Americans rate the economic conditions under the Biden-Harris administration “excellent or good,” a Pew Research survey found Monday. The poll is significant because 61 percent of likely voters believe the next president should represent a major change from the Biden-Harris administration, a New York Times/Siena College survey found Sunday. Only 25 percent believe Vice President Kamala Harris represents that change, while a majority think former President Donald Trump does. Seventy-five percent of Americans say the economy is “only fair” or “poor,” according to the poll. In addition, 74 percent of Americans are “very concerned” about the soaring prices of food and consumer products. “Other economic concerns — housing costs and job availability — have increased since 2023,” the poll found. The poll outlined three negative factors facing the Biden-Harris administration:   Source: breitbart.com https://twitter.com/KobeissiLetter/status/1834584507409678569   possibility of recession in 2024 Gold is trading as if we are in a major crisis while all of the data is saying the exact opposite. Are gold markets trying to tell us something? JPMorgan chief Jamie Dimon warns US economy faces an outcome worse than a recession    JPMorgan Chase CEO Jamie Dimon has said he would not rule out an outcome for the US economy which is widely considered to be worse than a recession.    Economists consider stagflation, last seen in the US in the 1970s, to be worse than a recession. It would send stocks down, hitting 401(K)s and other retirement savings.   Source: dailymail.co.uk  TAKE A LISTEN How long will it take for Kamala to steal this.  Slowly but surely he is removing taxes.. He is countering the [CB], once you get rid of the taxes it will be very difficult to go back, the people will reject it.  Political/Rights https://twitter.com/kevin_smith45/status/1834318844778717335 https://twitter.com/libsoftiktok/status/1834415359933497460  https://twitter.com/America1stLegal/status/1834258017992183925 DHS Secretary Mayorkas Criticizes Texas's Handling Of The Border  Department of Homeland Security Secretary Alejandro Mayorkas criticized Texas's attempts to stop illegal immigration while praising Vice President Kamala Harris's role in addressing the “root causes” of the border crisis. “This is the first time that in my 20 to 22 years of government service that I have seen a state act in direct contravention of national interests,” Mayorkas said. Mayorkas called Abbott's efforts to bus illegal immigrants to other states and cities without notice to or coordination with receiving cities “incompreh...

Wednesday on the News Hour, North Carolina enters the political spotlight as former President Trump and Vice President Harris both choose the swing state for speeches outlining their economic visions. Judy Woodruff talks with JPMorgan Chase CEO Jamie Dimon about political polarization and what can be done to bring Americans together. Plus, Ukrainian forces push farther into Russia despite Putin's efforts to counter the incursion. PBS News is supported by - https://www.pbs.org/newshour/about/funders

Economists at JPMorgan Chase raise the likelihood of a recession in 2024 to 35%, up from 25%, with a 45% chance of recession in late 2025. U.S. wage inflation slows unlike other developed economies, suggesting restrictive Federal Reserve policy and potential rate cuts in September and November 2024. JPMorgan Chase CEO Jamie Dimon cites uncertainty from geopolitics, housing, deficits, spending, quantitative tightening, and elections. A recent jobs report shows the unemployment rate at 4.1% in June, causing volatility in the Dow, S&P 500, and Nasdaq.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

The S&P Bank ETF is on track for its worst month since last March amid the regional bank crisis, but JPMorgan is only 7% away from last month's record high. Our Leslie Picker sits down with JPMorgan Chase CEO Jamie Dimon to talk about the business, the Fed, the economy, the markets, politics, and much more.

JPMorgan Chase CEO Jamie Dimon takes part in our rapid fire Q&A, sharing the habits that keep him productive, such as turning notifications off and keeping track of his day with a simple sheet of paper. Dimon offers unique career advice, including why you shouldn't rely on a mentor or set your sights on a CEO role. He also speaks candidly about what he learned getting fired from Citigroup and why he went back to his former boss, legendary financier Sanford “Sandy” Weil, to discuss it. Have questions you want to hear on This is Quick? Share a post or comment on LinkedIn using the hashtag #ThisisWorking. Follow Jamie Dimon , JPMorgan Chase , Dan Roth, and LinkedIn News on LinkedIn.

On Monday, JPMorgan Chase CEO Jamie Dimon hinted at retiring soon after running the banking powerhouse for 18 years. But finding replacements for veteran CEOs can be a tricky business. Also in this episode: New research finds that Native households are more financially stressed. Plus: Lowe's invests in professional contractors, and Chicago vendors scramble after grocery stores shutter. Our May fundraiser ends Friday, and we need your help to reach our goal. Give today and help fund public service journalism for all!

On Monday, JPMorgan Chase CEO Jamie Dimon hinted at retiring soon after running the banking powerhouse for 18 years. But finding replacements for veteran CEOs can be a tricky business. Also in this episode: New research finds that Native households are more financially stressed. Plus: Lowe's invests in professional contractors, and Chicago vendors scramble after grocery stores shutter. Our May fundraiser ends Friday, and we need your help to reach our goal. Give today and help fund public service journalism for all!

Episode 297: Neal and Toby chat about President Biden's plan to relieve a large number of Americans from their student loans for up to $20k and how it would impact the economy. Then, JPMorgan Chase CEO Jamie Dimon thinks AI is the biggest thing to happen for humanity since the printing press. Next, Brazil is fed up with Elon Musk and is now taking to its Supreme Court to do something about it. Meanwhile, Toby's trends on why fiber is sexy. Also, bad tax advice is spreading on TikTok and what can be done about it. Lastly, U.S. Treasury Secretary Janet Yellen's food excursions across China has social media buzzin'. Get your Morning Brew Daily Merch HERE: https://shop.morningbrew.com/products/morning-brew-daily-sweatshirt?utm_medium=multimedia&utm_source=podcast&utm_campaign=mbd&utm_content=shownotes Listen to Morning Brew Daily Here: https://link.chtbl.com/MBD Watch Morning Brew Daily Here: https://www.youtube.com/@MorningBrewDailyShow Learn more about your ad choices. Visit megaphone.fm/adchoices

Terry Savage, nationally syndicated financial columnist and author, joins Lisa Dent to talk about a message JPMorgan Chase CEO Jamie Dimon issued to shareholders, warning that interest rates could rise above 8%, and what it could mean for your pocketbook. Terry also answers all money-related questions from WGN Radio listeners. Follow The Lisa Dent Show on […]

Ahead of next week's Fed meeting, Carl Quintanilla, David Faber and Mike Santoli explored market reaction to key inflation data: The February Consumer Price Index. AI news in the spotlight: Oracle shares soared after the company posted an earnings beat -- and BofA raised its S&P 500 profit forecast for 2024. Also in focus: JPMorgan Chase CEO Jamie Dimon's latest recession message, Southwest shares take a hit on Boeing-related woes, 3M selects a new CEO, Paramount deal speculation, the Co-CEOs of athletic footwear and apparel maker On Holding at Post 9 on quarterly results that sent the stock tumbling.   Squawk on the Street Disclaimer

Jim Cramer and David Faber discussed what to make of developments involving a pair of M&A deals: Chevron warns that its $53 billion dollar agreement to acquire Hess may be at risk, while the Federal Trade Commission and nine states are suing to block the $25 billion Kroger-Albertsons merger. The anchors also reacted to some eye-popping comments JPMorgan Chase CEO Jamie Dimon made to CNBC about the future of AI. Lowe's issued disappointing guidance and Macy's announced it would close 150 stores as part of a turnaround plan. Where are the buys in retail? Also in focus: Zoom earnings, Endeavor M&A update, Tesla's rebound rally and the stock that jumped 80% on news regarding an obesity drug trial. Squawk on the Street Disclaimer

Learn the pros and cons of bitcoin, the world's largest cryptocurrency. Bitcoin can be moved well across space and time. You can't move dollars over time due to inflation; you can't  move gold over space due to weight and security concerns. Real estate, bitcoin, and gold are all scarce and take real-world resources to produce. Bitcoin is a global digital currency that's decentralized. Nick Giambruno joins us to discuss why bitcoin has value today.  Since there can only be 21 million bitcoin, it cannot be debased like dollars are. By April, bitcoin will experience a halving. Rather than 900 new bitcoins brought into issuance daily, there will be 450.  The SEC's recent Spot EFT approval will give more investors bitcoin access. The higher the stock-to-flow ratio, the harder the asset.  What about governments shutting down bitcoin, regulating it, or taxing it to death? We discuss. Bitcoin price volatility is a problem in currency adoption. Lots of energy is used in bitcoin mining. But much of it is stranded energy. Bitcoin cannot produce income. Keith Weinhold stresses his preferred way to hold bitcoin. Timestamps: Bitcoin's value proposition (00:00:01) Keith Weinhold introduces the topic of Bitcoin's value and why it is relevant to a real estate show. Jamie Dimon's criticism of Bitcoin (00:05:27) JPMorgan Chase CEO Jamie Dimon expresses his disdain for Bitcoin and blockchain technology in a heated conversation. Bitcoin's resistance to debasement (00:07:19) Keith Weinhold discusses the resistance of Bitcoin to debasement and the skepticism of governments and financial institutions towards it. The origin and value of Bitcoin (00:08:18) Nick Giambruno, an international investor, explains the history and value proposition of Bitcoin, emphasizing its decentralization and resistance to debasement. Bitcoin's hardness and production rate (00:14:21) Nick Giambruno delves into the concept of Bitcoin's hardness and its production requirements, comparing it to other assets like gold and real estate. Bitcoin's upcoming halving event (00:16:28) Nick Giambruno discusses the significance of Bitcoin's upcoming halving event, which will impact its stock-to-flow ratio and reinforce its value proposition. Bitcoin's scarcity (00:19:42) Bitcoin's limited supply and its unique scarcity attribute, compared to other commodities like gold. Upcoming halving event and Bitcoin ETF approval (00:20:53) Discussion on the significance of the upcoming halving event and the approval of a new spot for Bitcoin ETF, indicating the growing acceptance of Bitcoin. Bitcoin as a currency and value proposition (00:22:42) The value of Bitcoin as a currency for transferring value and its resistance to debasement, emphasizing the importance of self-custody of Bitcoin. Global adoption of Bitcoin (00:24:30) Comparison of Bitcoin adoption in different nations, highlighting the potential benefits for early adopters and the impact of Bitcoin on the world's financial landscape. Bitcoin's market potential and investment consideration (00:27:27) The potential market share of Bitcoin in the global economy and the consideration of Bitcoin as an investment asset. Government's ability to regulate Bitcoin (00:34:11) Discussion on the government's potential regulation and taxation of Bitcoin, emphasizing the power of economic incentives and Bitcoin's resilience to government intervention. Bitcoin's uniqueness and credibility (00:36:12) Differentiating Bitcoin from other cryptocurrencies, highlighting its credibility and resistance to change, making it the real innovation in the crypto space. Bitcoin as a Store of Value (00:37:55) Discussion on Bitcoin's role as a store of value and its comparison to gold. Bitcoin as an Emerging Form of Money (00:38:25) Explanation of Bitcoin as an emerging form of money and its distinction from established money like gold. Bitcoin's Transaction Network and the Lightning Network (00:39:37) Explanation of Bitcoin's transaction network, scalability, and the use of the Lightning Network for smaller transactions. Earning Income from Bitcoin (00:41:40) Discussion on earning income from Bitcoin through related companies, dividends, and caution regarding Bitcoin lending services. Bitcoin Exchanges and Custody (00:44:20) The importance of custodying your own Bitcoin and the risks associated with centralized Bitcoin exchanges. Connecting with the Guest (00:45:13) Information on how to connect with the guest and access a helpful Bitcoin guide. Bitcoin's Energy Use and Price Volatility (00:46:01) Insights into Bitcoin's energy use, price volatility, and the use of stranded energy sources by miners. Real Estate vs. Bitcoin (00:47:04) Comparison of real estate as a wealth builder with the merits and risks of owning gold and Bitcoin. Disclaimer and Conclusion (00:47:54) Disclaimer about the content and a conclusion to the episode. Resources mentioned: Show Page: GetRichEducation.com/488 More on Nick Giambruno: FinancialUnderground.com For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete episode transcript:   Keith Weinhold (00:00:01) - Welcome to GRE. I'm your host, Keith Weinhold. Why does Bitcoin have any value? And why is a real estate show dedicating one episode to this topic now? The benefits and criticisms of the world's largest cryptocurrency Bitcoin today on Get Rich Education. If you like the Get Rich Education podcast, you're going to love art. Don't quit your day. Dream newsletter. No, I here I write every word of the letter myself. It wires your mind for wealth. It helps you make money in your sleep and updates you on vital real estate investing trends. It's free. Sign up egg get rich education com slash letter. It's real content that makes a real difference in your life, spiced with a dash of humor rather than living below your means, learn how to grow your means right now. You can also easily get the letter by texting gray to 66866. Text gray to 66866.   Corey Coates (00:01:06) - You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold (00:01:22) - Work degree from Quito, Ecuador, where I am today, to the Mosquito Coast, Nicaragua, and across 188 nations worldwide.   Keith Weinhold (00:01:29) - You're listening. One of the United States longest running and most less than two shows on real estate investing. I'm your host, Keith Reinhold. Yes, we're a real estate show, but with 488 episodes, it's time to focus at least one of them. Finally, on Bitcoin. We'll bring it back to US real estate next week. Now, this is for a few reasons. Today, Bitcoin is largely misunderstood. It's become so big that it's hard to ignore. And there are two recent Bitcoin events two happenings with global impact that makes now the right time to cover this. Now look, I think that it's human nature that when you learn about something new for the first time and you don't understand how it works like Bitcoin, it's sort of innate to you start criticizing it or sort of discounted in your mind, chiefly because you don't understand it. Though Bitcoin's pseudonymous creator, Satoshi Nakamoto wrote the Bitcoin paper in 2008 and the first Bitcoin was issued in 2009. And, you know, when I first heard about it sometime after that, I probably discounted it in my mind as well.   Keith Weinhold (00:02:45) - And I think most people that don't understand Bitcoin, you know, they first think something like, oh come on, what is this. Just magic internet money. How does that work? How could that have any value. And I think is one matures when encountering the unknown. They inquire rather than criticize it. Look now and I'm getting really personal here, aren't I? I don't do drugs and I never have. But I don't criticize those that do drugs because it's a world that I just don't understand at all. Last year I was having dinner with a couple. They asked me what book I'm currently reading, and I told them that it's a 350 page book about Bitcoin, and the response was laughter, sort of dismissing it. And they said, well, how could anyone write that many pages about Bitcoin just completely discounting the whole thing? Well, for me, a turning point on Bitcoin is when I found highly intelligent people that understood it well and they were excited about it and they endorsed it. Now real estate has more intrinsic value than the dollar or gold or Bitcoin.   Keith Weinhold (00:04:02) - Because real estate is essential to your survival. You can make arguments that the dollar, gold and Bitcoin all have questionable backing. But today enough people agree that the dollar, gold and Bitcoin all have value. People are agreeing all three gold, the dollar and Bitcoin have varying levels then of anthropogenic faith. Today you and I, we live in a digital world that's comprised of 195 world nations. Well then, shouldn't money be made of something that's digital and doesn't know any national borders? Think of Bitcoin's value proposition this way you cannot move dollars across time. That's due to inflation. You can't move gold across space that's due to weight and security. But consider this Bitcoin can be officially moved across both space and time. Its supply is absolutely fixed. At 21 million, there can never be more than 21 million bitcoin either. It's traded on the blockchain, which is basically a digital ledger, but not every intelligent or influential finance person believes in Bitcoin. Of course, not every one of them. For example, it gets a little heated here from last month.   Keith Weinhold (00:05:27) - This is one of the most powerful men in the world. JPMorgan Chase CEO Jamie Dimon. He's getting annoyed about CNBC asking him about Bitcoin just entirely too often. What do you make of the other firms the BlackRock's of the world.   CNBC (00:05:42) - That that obviously and Larry Fink change his view of this obviously. And maybe he changed his view because you think he genuinely believes in Bitcoin or or believed it because he thinks that there's a marketplace for it and he wants to be part of that market. But what do you think of the there's about a dozen big financial companies, fidelity included.   Jamie Dimon, JP Morgan Chase (00:05:59) - Number one I don't care. So just please stop talking about this. And and I don't know what he would say about blockchain versus currencies to do something versus Bitcoin that does nothing. And maybe that's not different than me. But you know, this is what makes a market. People have opinions. This is the last time I'm ever in state. In my opinion.   CNBC (00:06:18) - Gold really didn't do anything either.   Jamie Dimon, JP Morgan Chase (00:06:21) - Yet because it's limited in supply.   Jamie Dimon, JP Morgan Chase (00:06:23) - So it's and it's been used. Uh, so you think so, huh? I do think there's a good chance that when bitcoin when we get to that 20 million bitcoins 42 know that Satoshi is going to come on there laugh hysterically. Go quiet. All Bitcoin is going to be erased I think. How the hell do you know it's going to stop at 21? I've never met one person who told me they know for a fact they take that as it's not.   CNBC (00:06:44) - It hasn't happened because by the last one will be mined in 2150. And it gets harder and harder every time there's another halving. But but, Jamie, I do like looking back over.   Jamie Dimon, JP Morgan Chase (00:06:55) - Just do what you want. I'll do what I want. Ask for gold.   CNBC (00:06:57) - You can. The six characteristics that make gold valuable for 4000 years. They're all present in Bitcoin. That's all I'm saying. I love you and I don't want to. And I also don't I don't also don't want to be a you may enjoy Joe.   Jamie Dimon, JP Morgan Chase (00:07:08) - You may be right.   Jamie Dimon, JP Morgan Chase (00:07:09) - Yeah. Like I don't own gold either. So okay. That's what.   CNBC (00:07:11) - I mean.   CNBC (00:07:12) - Couple of quick final question.   Jamie Dimon, JP Morgan Chase (00:07:12) - I like to own things that pay me incomes, but it doesn't cost money to carry anyway. And it costs money to carry Bitcoin to. By the way.   Keith Weinhold (00:07:19) - Uh, that was Jamie Diamond. Now governments and banksters like Jamie Diamond, they often dislike bitcoin because it cuts out the use of their chief product, the dollar. So governments are especially hesitant to want to promote bitcoin, a lot of them in the world. Anyway, I've got a conversation with a bitcoin expert coming up. We're going to talk about its value proposition and then the criticisms. Yes, I'm in Quito today. I was last year in Ecuador two years ago, this Colorado sized nation of 18 million people. I plan to attempt climbing to the summit of a 20,000 foot mountain later in the week. As for today, let's continue with why should Bitcoin have any value? Today's guest is the founder of the Financial Underground, and he is the editor in chief of that publication.   Keith Weinhold (00:08:18) - He's a renowned international investor, and he specializes in identifying big picture geopolitical and economic trends ahead of the crowd. And you've seen him featured seemingly in everything from Forbes to the Ron Paul Liberty Report. He was a speaker at the well-known New Orleans Investment Conference as well. Hey, it's great to welcome on to gray, Nick. Jim Bruno.   Nick Giambruno (00:08:41) - Hey, Keith, great to be with you.   Keith Weinhold (00:08:43) - I think a lot of our listeners are real estate investors are going to be wondering now, why are you talking about Bitcoin on a real estate show? Actually, I think there are a few more commonalities here than what a lot of people think. What a real estate in Bitcoin have in common. They're both scarce, neither can be easily deluded, and they both take real world resources to produce more of. You could apply those same three attributes to gold. So real estate gold and bitcoin they have this scarcity. And really I think that's a wise investing theme. Go ahead and invest in what's scarce. Limit what's abundant and take zero cost to produce like dollars.   Keith Weinhold (00:09:21) - So really that's the commonality between real estate in Bitcoin. But on a real estate show, I think we have a lot of listeners that just don't have an overall common understanding. Nick, of just what is bitcoin and why does it have any value in the first place?   Nick Giambruno (00:09:37) - Well, that is a some very good observations and a very profound question. What is Bitcoin. Well, Bitcoin is a relatively new asset. However it has been decades in the making. People don't understand that Bitcoin didn't just fall out of the sky, or is some kind of accident in some mad sciences garage. This is something that has been in the the works basically since the late 70s, and it came out of the Cypherpunk movement. Now, you may have heard of these people. You may have not. The Cypherpunks are basically I find them as the good guys. They are involved in creating technologies that empower the individual and disempower the state. They are behind some of the most prominent freedom oriented technologies that you and I may take for granted, including encryption.   Nick Giambruno (00:10:27) - And that's another story in and of itself. Let me just briefly get into that, because that's what puts the crypto cryptography in cryptocurrency. Cryptography is a very important field. It's basically the method of encoding information so that only the recipient can see it. And it's very important to understand that while we take for granted the average person has access to unbreakable cryptography today, that was not always the case. Cryptography has been around since the time of the ancient Greeks, and maybe even before, but it's always been a government monopoly until very recently in terms of historical standards, when cryptography was made available to the average person. That is a very profound thing, because now the average person can secure their information and secure their online life in a way that nobody can break. The US government can't break it. Chinese government can't break it, nobody can break it. And that is very important. And that laid the foundation for Bitcoin. So what is bitcoin. It's just a summit. But it is a superior alternative to central banking.   Nick Giambruno (00:11:27) - And that is a very revolutionary thing. It basically does the job of what a central bank does but much much, much better and removes all of the corruption, all of the nastiness that goes along with central banking. So what we have here is a genuine, workable alternative to central banking, and we can get into the details of that. But if you want to look at it, what it is, that's what it is. And at the same time, it's a form of money that is not just resistant to debasement, it's totally resistant to debasement. You're talking about gold and real estate. Well, gold. What made gold money over thousands of years? Yes, it is scarce. However, I always like to use this example. There's a concept that's related to scarcity, but it's not that it was scarce. And the reason is, is think about platinum and palladium. There's actually scarcer than gold, like there are fewer ounces of platinum and palladium in the world than there are gold ounces. So why don't people use platinum and palladium as money? It's a very, very important point.   Nick Giambruno (00:12:26) - The reason is, is because the platinum and palladium supply is not resistant to debasement. So it's scarcer, but it's not resistant to debasement. What does that mean? It means the annual supply growth of platinum and palladium are basically equal to the stockpiles. So depending on what this year or next year's annual production of platinum or palladium are going to be, it can wildly swing the market. That is not true of gold. Gold is only about 1.5% growth per year. And that's very, very consistent. What does that mean? That is a very important concept. So the gold supply only grows at about 1.5% per year.   Keith Weinhold (00:13:02) - And this is basically an inflation rate.   Nick Giambruno (00:13:04) - Yes it is its inflation rate. But it's very small and nobody can really change that. Think about it. There's a. It's not as if people don't want to increase the gold supply. They would love to. The way that the gold is distributed in the world, and the cost it takes to mining it puts a really hard limit on what you can produce each year.   Nick Giambruno (00:13:22) - So that's what makes it a good store of value. And if something is not a good store of value, it's not going to be a good money. These are some very, very fundamental concepts I'm talking about because they also apply to Bitcoin.   Keith Weinhold (00:13:35) - Then when someone asked me what Bitcoin is to give it a really short definition, I call Bitcoin a global digital currency that's decentralized. And you brought up the decentralization. That's really important. That's where I can make a peer to peer payment without having to go through an intermediary where I can send my Bitcoin directly over to Nick. There was no bank involved in that transaction, for example, the decentralization of Bitcoin. But we talk more about why Bitcoin has value. I believe you began touching on it there, Nick. Bitcoin has this hardness, which is a strange term to people because Bitcoin is digital. So can you tell us more about Bitcoin's value that comes through its hardness.   Nick Giambruno (00:14:21) - Let me just touch on a quick point you made also. So simply put, the value proposition of Bitcoin is that it allows anybody, anywhere in the world to send and receive value without depending on any third party.   Nick Giambruno (00:14:32) - At the same time. It's a form of money that is 100% resistant to debasement. That's its value proposition. That's a very profound thing. So going to the hardness. Yes, hardness is a concept that a lot of people get confused. Look, I love gold, I own gold, I recommend gold chain from the gold community. And I know the gold community. So I think a lot of people in the gold community get confused around this hardness now. They think it's hard, like physically hard, like abrasive metal. That's not what art means. Hard. And in terms of a hard asset, what it means is hard to produce. That's what it means. Yeah, that's what a hard asset is. It's hard to produce. And what is the opposite of that? Something that's easy to produce. Nobody would want to store their value, store their savings, store their economic energy into something that somebody else can make with no effort, almost like, you know, oh, let's put our life savings in arcade tokens or frequent flyer miles.   Nick Giambruno (00:15:26) - It's ridiculous when you think of it in that way. But that is, in my humble opinion, the most important attribute of money is that it's hard to produce all the other attributes of money. Quite frankly, are meaningless if the money is not hard to produce. Because if it's not hard to produce, none of the other stuff matters. And that's the most crucial attribute of money.   Keith Weinhold (00:15:45) - Yes, reinforcing why we have that investing theme of invest in something that's scarce and difficult to produce and takes real world resources to produce, much like real estate does. Much like gold with all the mining and assaying and much like Bitcoin, because to produce new Bitcoin, it takes electricity, it takes hardware and it takes software, some real world resources in order to produce Bitcoin. We talk about the production rate or the inflation rate in just a couple months. Here we're coming up on something really interesting, which is really one reason why I have you on the show talking about Bitcoin now. And that is the having event, the halving being that rate of new Bitcoin issuance is cut in half every four years.   Keith Weinhold (00:16:28) - So tell us more about that and bring the stock to flow ratio into the conversation here. We're at a cusp.   Nick Giambruno (00:16:34) - Of a very important moment in monetary history. Because you can quantify the hardness of an asset. It is quantifiable. It is basically the inverse of the supply growth. And there's another way of saying that, as you mentioned, the stock to flow ratio basically. In short, you got the stockpiles. That's what's available. And then you have the flow which is like the new supply. So the higher the stock to flow, the harder the asset is and the more resistant to debasement it is. And same thing when you take the the supply growth, you want a smaller supply growth. It's just the inverse of the stock to flow. So gold has always been mankind's artist money for thousands of years and gold's stock to blow ratios about I think it's around 60 which means it takes about 60 years of current production to equal current supplies. If you look at silver, it's much less than gold.   Nick Giambruno (00:17:25) - And every other commodity is closer to one, which means that every year the new production basically equals the existing stockpiles. And that's not a very good attribute for something that you want to have as a store of value. Now, what is going to happen in this having that's coming up in around April of this year? You can quantify the stock that flow. I just told you how to quantify it. So right now Bitcoin and gold have about equal stock to flow ratios in about equal hardness. However a key feature of the Bitcoin protocol is that every four years the new Bitcoin supply issuance gets cut in half until around the year 2140, when it is just goes to zero. So Bitcoin is not only going to exceed gold's hardness in a few months, it's going to double it. Now that is a very interesting moment in monetary history because mankind has not had a harder money than gold I don't think. Ever. So this is all going to be very important and it's coming very soon in April. Late April I think is when it's going to happen.   Nick Giambruno (00:18:28) - So a very important moment in monetary history.   Keith Weinhold (00:18:31) - There is real profundity there with the stock to flow ratio of Bitcoin exceeding that of gold with the upcoming having. And if you, the listener still hung up on the stock to flow ratio, we're talking about the ratio of the existing stock, how much of this stuff already exists, whether it's real estate or gold or Bitcoin divided by the rate of new issuance. So the higher the stock to flow ratio, and as it has the greater hardness it has. And currently 900 new bitcoins per day are being produced. And the having means just what it sounds like in April that will drop to 450 new bitcoins being mined into existence each day. So really you can think of Bitcoin as being disinflationary. It will continue to inflate until the year 2140. Like Nick described. That's when new bitcoin will cease to be mined. And until that point, the new amount the flow continues to get halved. Every four years, there will only ever be 21 million Bitcoin that exist, and 19.6 million of those have already been mined.   Keith Weinhold (00:19:36) - So you can get an idea of the hardness and how this helps supply the value of Bitcoin.   Nick Giambruno (00:19:42) - Well, absolutely. And it's he talks about that. I think it's something like 93% of the time, supply has already been mined, and the remaining 7% are going to come online over the next 120 years or so. You might want to get some before other people figure this out. There is definitely not enough Bitcoin for every millionaire to have one bitcoin, it's far less. I think there's something maybe 50 million millionaires in the world, probably more. They can't all have a bitcoin. It's a very tight supply and we have a situation here too that is related. Because Bitcoin is the only asset, the only commodity were higher prices cannot induce more supply. If gold went to 10,000, you can be sure there are going to be more gold miners getting into the business, more economic deposits being found and and exploited and more supply eventually coming on to the market. Great point. And the same is true for every commodity.   Nick Giambruno (00:20:38) - Gold is just the most resistant to that process. However, Bitcoin, no matter how high the price goes, it cannot induce the production of more Bitcoin. That's a very unique scarcity attribute that I don't think people really appreciate very much. It's certainly there.   Keith Weinhold (00:20:53) - So this upcoming halving event is one reason why I'm having Nick on the show now to do our first ever Bitcoin episode in almost 500 episodes. And the other reason is the nation see of the SEC approving a new spot to Bitcoin ETF. And all that basically means is it helps give everyday investors really easy access to Bitcoin without having to set up a crypto wallet and bam, hey, your mom can become a crypto bro now.   Nick Giambruno (00:21:22) - It is certainly a milestone in acceptance. I think it signifies that Bitcoin is no longer a fringe. It's here to stay. It took over ten years for the SEC to approve one of these things. I think the Winklevoss twins applied over ten years ago for the first Bitcoin ETF, so they reluctantly did it. I don't think they want it to do it.   Nick Giambruno (00:21:43) - I think they lost a couple of key court cases that kind of forced their hand, but they did approve it. I frankly don't recommend the ETFs. It's not really Bitcoin because what you have is a Bitcoin IOU, several Bitcoin IOUs. So let's say you buy the Blackrock Bitcoin ETF. Will you have an IOU from your broker for the Blackrock ETF share. And the broker has an IOU from Blackrock. And then Blackrock has an IOU from Coinbase which actually holds the Bitcoin. So I always tell people look it's a spectrum. If you want to take that trade off and you're taking a trade off for convenience over a security and sovereignty, if you want to take that trade off, that's go right ahead. But be have your eyes wide open and be conscious of the trade off that you're making. I always prefer to, uh, tell people Bitcoin is unique. This is a bearer asset. People forget about bearer assets. Bearer assets are a very good thing. They give the people who hold them ownership over them.   Nick Giambruno (00:22:42) - I think people who are interested in sovereignty. One thing too that's very important is that even if the Bitcoin price stays flat forever, it doesn't go up at all. It still offers people tremendous value as what we were talking about before, even if it stays flat and doesn't go up ever again, it's still offers anybody, anywhere in the world the ability to send and receive value from anybody else, anywhere in the world, and to hold money that's resistant to debasement, that's hugely valuable, even if the price doesn't go up. So and you can only get those benefits if you hold Bitcoin properly in your own bitcoin wallet, where you control the keys and only you control the keys, because that's who has ownership to this. Bitcoin is by who controls those private keys. You can just kind of think of that like the password dear Bitcoin. So that's what you want to do. If you can learn how to drive a car you can learn how to self-custody Bitcoin.   Keith Weinhold (00:23:33) - I love what you did there, Nick, because what you helped us do is you helped us transition from talking about Bitcoin as an investment asset to using bitcoin as a currency, if you wish to use it to transfer value.   Keith Weinhold (00:23:47) - Really, Nick, I think a lot of people in the United States, one reason that they're not that interested in Bitcoin is because our currency, our United States dollar, it sure has problems. It sure recently went through a big wave of inflation, but our currency just is not as bad as some of these worthless pieces of paper have been in the Argentine currency or in Turkey or in Iran or Haiti. So maybe Americans don't have enough of a reason to want to go ahead and get a currency that holds its value. So what are your thoughts with what people in other nations are doing, including El Salvador, with immediate legal tender versus the United States, where we have this dollar that's being debased but just not quite at the rate of most other world nations.   Nick Giambruno (00:24:30) - That's a good point. I see this in my travels around the world. It may seem like an advantage for the Americans, but I think it's a disadvantage because they're going to be catch on to this last because they're going to have, oh, we've got the dollar.   Nick Giambruno (00:24:43) - The dollar's great. So why do I need to look at other alternatives. And and they're going to be the last people. So you're going to have I think what you could see over this the next few years, and certainly over the longer term, is that countries like El Salvador, the countries that are experiencing the highest rates of inflation now and are thus more motivated to look at a superior form of money like Bitcoin or gold, but a lot of them are going to Bitcoin. These are going to be the countries that might fare better over the long term, because they're going to be relatively early adopters in this superior monetary technology. Nobody takes a horse and buggy from New York to California anymore. No, you don't need to because you have airplanes, you have cars, superior technologies for transportation. And likewise, we now have a superior technology for money, which is to say storing and exchanging value. That's all money is. People think it's all confusing. You need a PhD and there's all these charts and confusing jargon.   Nick Giambruno (00:25:38) - Money is not confusing. It's actually intuitive and anybody in the world can understand it. It's just something that stores and exchanges value. It's really quite simple. So now we have a superior technology for storing and exchanging value. And I think people who adopt it first are going to reap the most benefits. There are a lot of Americans who have adopted it, but they have been spoiled by the fact that the dollar has been the world's reserve currency. Now, I think that's going away. That's a whole other story. I think that's the two big reasons why, you know, you shouldn't just depend on the dollar one. We can talk. This is a whole new discussion about the dollar as the world reserve currency. I think it's going away. But now despite that we also have a superior alternative with Bitcoin. So yeah, I think the people who are going to adopt this technology sooner are going to reap the most benefits.   Keith Weinhold (00:26:24) - Well, Nick, in your opinion, is Bitcoin's takeover inevitable and how does that look?   Nick Giambruno (00:26:30) - I don't think anything's inevitable.   Nick Giambruno (00:26:32) - I think it's a good that I mean, if I thought it was inevitable, I would sell everything and buy it. I have a more diversified portfolio, but I have a strong conviction in it, very strong conviction in it. But nothing is certain. Nothing's 100%. So I never tell people, you know, and I'm not giving anybody any investment advice. I'm not a registered investment advisor or anything like that. But in any case, even if I was, I wouldn't tell anybody to go all in on anything. And that's certainly not how I manage my risk. However, I do have a very high conviction in it, and I think as it stands now, it has an excellent chance at gaining huge market share in the market for money. And people don't think of money as a market, like a real estate market or a technology market, or the market for any industry. But money is a market. It's probably the biggest market. And I think Bitcoin is you need to put it into perspective, the market cap of all the gold in the entire world is about $13.7 trillion.   Nick Giambruno (00:27:27) - The market cap for all Bitcoin in the world, last I checked, is around $850 billion. So we're less than 10% of gold's market cap. It has. And that's not even including all the fiat currencies. All the fiat currencies have a much larger market cap than even gold. So Bitcoin is just a blip on people's radars. So I think it has a lot of upside from here.   Keith Weinhold (00:27:46) - One important question an investor can ask themselves once they learn more about Bitcoin is, can I really afford to have absolutely none? You're listening to get reciprocation. We're talking with Nick Bruno of the Financial Underground Warren. We come back when now we've talked about the upside of Bitcoin. Let's talk about a lot of the criticisms you're listening to get rejection I'm your host Keith Weiner. Role. Under this a specific expert with income property, you need Ridge Lending Group and MLS for 256. In gray history, from beginners to veterans, they provided our listeners with more mortgages than anyone. It's where I get my own loans for single family rentals up to four Plex's.   Keith Weinhold (00:28:29) - Start your pre-qualification and chat with President Charlie Ridge personally. They'll even customize a plan tailored to you for growing your portfolio. Start at Ridge Lending group.com Ridge lending group.com. You know, I'll just tell you, for the most passive part of my real estate investing, personally, I put my own dollars with Freedom Family Investments because their funds pay me a stream of regular cash flow in returns, or better than a bank savings account up to 12%. Their minimums are as low as 25 K. You don't even need to be accredited for some of them. It's all backed by real estate and that kind of love. How the tax benefit of doing this can offset capital gains and your W2 jobs income. They've always given me exactly their stated return paid on time. So it's steady income, no surprises while I'm sleeping or just doing the things I love. For a little insider tip, I've invested in their power fund to get going on that text family to 66866. Oh, and this isn't a solicitation. If you want to invest where I do, just go ahead and text family to six, 686, six.   Keith Weinhold (00:29:52) - This is Richard Duncan, publisher of Macro Watch. Listen to get Rich education with Keith Winchell. And don't quit your day dream. You're listening to SOS created more financial freedom for busy people just like you than nearly any show in the world. This is jet versus cash, and I'm your host, Keith Whitehall. We're talking with the Financial Underground's Nick Bruno. We're talking about Bitcoin in a dedicated episode for the first time ever here in the history of the show. And when we had a chance to talk to Nick Bruno, you can see why we wanted to do this. But, Nick, a lot of people in the United States are concerned that the US government might do something similar to what China did and just go ahead and shut down Bitcoin and shut down cryptocurrency because Bitcoin, it basically competes with the US government's product, the dollar. So what are your thoughts when people say, oh I don't know about that. The government can just shut Bitcoin down.   Nick Giambruno (00:30:53) - I'm glad you mentioned China because the communist governor of China is a very powerful governments.   Nick Giambruno (00:30:58) - It's one of the most powerful and maybe arguably the most powerful government in the world. And they've tried many times to ban Bitcoin. You know how it turned out. It was a total failure because Bitcoin is basically code in its mathematics. So it's not the easiest thing to ban even if they wanted to ban it. You're trying to ban mathematics because that's all Bitcoin is. And further many Bitcoin wallets and it all works on cryptography. As and as I said, cryptography is just advanced mathematics. Many Bitcoin wallets have a way to back up your funds a 12 word phrase. So if you can memorize well words, which represents your wallet, you can potentially store billions of dollars just in your head. Now this is how are you going to ban that? You can't ban that. It's completely impractical. I always tell people, you know, look at how governments have tried to ban cannabis. Everybody has been able to buy cannabis in any city they wanted to. And then also other countries have tried to ban US dollars.   Nick Giambruno (00:31:57) - Argentina tries to ban U.S. dollars, Venezuela tries to ban U.S. dollars. You know what it does? It creates nothing. But an underground market doesn't extinguish people's desire to have dollars. And I think that's what we have here. I think economic incentives are more powerful than governments. And aside from that, I don't think that's going to happen because what they approve all these ETFs, that they were just going to turn around and ban it? I don't think so. Further, you have lots of court cases. There is established federal court cases that have ruled that computer code, which Bitcoin is just computer code, is equivalent to free speech protected under the First amendment of the US Constitution. Oh yes, I understand the Constitution is not people can change it and it's malleable. But still, that complicates any government's desire to ban it. They're going to have to overturn those federal court cases. That's not going to be easy. And even if they do, how are you going to ban something that somebody can just memorize with 12 words written on a piece of paper or in their head, it's completely impractical.   Nick Giambruno (00:32:58) - And then, of course, you have the example of China, which has banned Bitcoin several times. You know what? Absolutely nothing happened. But Bitcoin business is moving out of China and Bitcoin adoption among regular Chinese people going up. They can hinder businesses and large like entities that have big presences. They can hinder that certainly. But Bitcoin is global. It'll just go where it's treated best. It's like water. It'll just move to wherever it's treated best. I always say this too. So even if like the northern hemisphere disappeared, let's say there's an all out nuclear war between Russia and the US that will basically wipe out the northern hemisphere. You know what? Bitcoin won't miss a beat in the southern hemisphere. It'll still keep going in the southern hemisphere because it is decentralized and un over tens of thousands of computers around the world. And if even one of those computers survives Bitcoin lives on. So I think this is a very, very hard I wouldn't want to be trying to ban this thing because it's not practical.   Keith Weinhold (00:33:56) - Other critics say, all right, if the government can't ban it, well, the government can just then allow it make it be legal, but they can regulate the heck out of it and they can tax it at really high rates. What are your thoughts there?   Nick Giambruno (00:34:11) - Well, the government can do whatever it wants, but I think, yes, it can do all of those things. But I think here's the main point is that Bitcoin is we talked about economic incentives. Economic incentives are more powerful than politicians. And I think that's a truism. So as more people become holders of bitcoin aware of bitcoin, I don't think restricting bitcoin or banning bitcoin or adding regulations to Bitcoin or adding taxation to it, I don't think that's going to help anybody win an election. Is that going to help anybody win an election? I don't think so. That would be extremely politically unpopular. Yeah, that could happen. It would be bad news for the people who live in that jersey. But you know what? It's not going to kill bitcoin.   Nick Giambruno (00:34:52) - It's going to just be a hindrance for the people who live under these Luddite politicians who would do such a thing. But I don't think they're going to do such a thing. They just approve the ETF. I think Bitcoin has reached escape velocity in terms of its political popularity. I don't think anybody is going to win an election by being tough on Bitcoin.   Keith Weinhold (00:35:11) - A number of congresspeople hold bitcoin, Cynthia Loomis being one of the more prominent ones. And then you and I talked about the SEC spot Bitcoin ETF approval earlier. Well, that's a bit of a de facto stamp of approval on bitcoin really in a sense. And I think another criticism Nick, in my opinion this is easy to dispel. But some people will say, well, there are tens of thousands of cryptocurrencies out there. This stuff's just junk. There's something like hump coin that a prominent rapper promotes. I mean, all this stuff is just a bunch of junk. When all these cryptocurrencies come out. And I tend to think that's very different than Bitcoin.   Keith Weinhold (00:35:50) - Just like if there's some new stock IPO with zero fundamentals that comes out, I mean that doesn't diminish blue chippers like Apple or Microsoft at all. So I think of Bitcoin as the first or one of the first cryptocurrencies with a finite supply. So these overnight fly by night new cryptos I don't think that's really a very good criticism of Bitcoin.   Nick Giambruno (00:36:12) - No, I think this is one of the most popular misconceptions is that there is this crypto asset class and that Bitcoin is just one of 20,000 cryptocurrencies. And I think this is transparently false. It's like saying, oh, you know an increase in the pyrite supply is going to, you know, dilute the gold or something right. So it's kind of ridiculous. And the reason behind this is very simple. Bitcoin is the only one that nobody controls. Nobody can change bitcoin. It's the only one that is like that from Ethereum which is number two on down. They can be changed. A group of people can get together and change it. And in fact, Ethereum's monetary policy has been changed more often than the Federal Reserve's monetary policy.   Nick Giambruno (00:36:54) - It's just instead of the FOMC getting together and deciding what we should do with the money supply, it's a group of Ethereum developers and insiders that get together and change it. And the same thing is true of every other cryptocurrency. So that's the very defining feature of Bitcoin is that nobody can change it. That's what makes it interesting. If somebody could change Bitcoin, it wouldn't be interesting. And we don't need to get into the weeds of that. But needless to say, Bitcoin is the only one where the supply has credibility. We all know the bitcoin supply is 21 million. Nobody can do anything to change that. What is the Bitcoin supply going to be in five years? I could tell you with precision what it will be in five years. I can tell you with precision what it'll be in ten years. And you tell me what the Ethereum supply is going to be in five years. Can you tell me what the supply is going to be in ten years? You tell me what any cryptocurrency aside from Bitcoin supply is going to be in five years.   Nick Giambruno (00:37:41) - No you can't because it depends on how the developers are going to change it. So it's quite ridiculous to lump these two things together. They're entirely separate. Crypto is a cesspool. Quite frankly. Bitcoin is the real innovation.   Keith Weinhold (00:37:55) - And immutable protocol as they call it. Nick, I think one criticism is to pull back. We all know that money is three things. It's a store of value. It's a medium of exchange and it's a unit of account. And a lot of people say, I don't think Bitcoin can be a legitimate currency because all people do is store it. So it might meet the store of value criterion of those three. But I don't know about its legitimacy as a currency. Does that matter? I mean, people kind of use gold as a store of value, but not a currency. What are your thoughts?   Nick Giambruno (00:38:25) - Yes, it does matter. And it's a good question. The answer is is Bitcoin is not an established money. Take gold for example. Gold has been around for thousands of years.   Nick Giambruno (00:38:34) - It is an established form of money. Bitcoin is an emerging form of money. It's a very big distinction. So I personally think the way this will go and you know people disagree. But I think just logically, if you look at it, yes, story of value comes first. Why. Because once people store their value in Bitcoin, the monetary network of people who will be willing to exchange that bitcoin for something else grows and you can't have one before the other in terms of like nobody's going to exchange bitcoin if they're not already storing bitcoin. So the more people that store bitcoin have it available to exchange it for other people, it's like a network effect, any kind of network effect. That's a monetary network effect. And that's time to build further Bitcoin related misunderstanding is you kind of view Bitcoin in a different lens than just paying for like a cup of coffee, because that's really not what it's made for. The Bitcoin network has a hard limit on the number of transactions that I can process every day in order to keep it decentralized, because if it processed everybody's coffee transaction, you would need huge data centers to run the Bitcoin software.   Nick Giambruno (00:39:37) - The matter is, is that the Bitcoin software needs to be decentralized. So right now, anybody who has an average laptop, an average Raspberry Pi can run Bitcoin. That is very important for its decentralization. And if you were putting everybody's retail transaction on the Bitcoin blockchain would be impossible. You need large data centers. Now does that mean Bitcoin can't scale to become a medium of exchange? Absolutely not. You have to just think of bitcoin. What is a Bitcoin transaction represents. It represents final international settlement and clearance. So it's more akin to an international wire transfer. You wouldn't pay for a cup of coffee with from a Swiss bank account to Starbucks in New York. That's basically what you're talking about. What you do is you build layers. There are different layers that are built on top of that bedrock, which is the Bitcoin network that is immutable, unchangeable, and then you build transaction networks on top of that. So what we have with Bitcoin, the most prominent one right now is called the Lightning Network, which is another network that's built on top of Bitcoin that is really more suitable for smaller day to day coffee transactions.   Nick Giambruno (00:40:43) - You can actually send about 1/32 of a penny over lightning. So you can do all sorts of micro-transactions. Very interesting. So that's akin to, you know, like a credit card or a credit card is kind of like a layer two network that's built on top of central banks, which do international clearing and settling, and credit cards are built on top of that. And you can think of the same kind of solutions that are going to be built on Bitcoin. You're going to have different layers for different applications. And in terms of these medium of exchange and transaction network in Bitcoin it's the Lightning Network. And it's very exciting to use.   Keith Weinhold (00:41:19) - Yeah the Lightning Network it's been around for a while. It's been getting more adoption to help promote payments through Bitcoin. Being a real estate investing show here, oftentimes our listeners are interested in buying a property that will produce income from a tenant that's in that property. Can Bitcoin produce income?   Nick Giambruno (00:41:40) - Bitcoin itself cannot produce income because it's just simply money. It's simply an asset in the same sense that gold doesn't produce income.   Nick Giambruno (00:41:47) - If you want to earn income from Bitcoin, invest in Bitcoin related companies and Bitcoin related businesses that pay dividends. There are some and there is going to be many more. There are Bitcoin mining companies. These are companies I specialize in covering. In my financial research. They're relatively new. They don't pay dividends yet, but there are several that are looking to establish dividends. You can also lend your bitcoin I mean that's not bitcoin giving you a yield. That's you earning a yield from lending your bitcoin. I would caution you because there's been a lot of these kinds of bitcoin lending services that have gone bankrupt. BlockFi Celsius I'd be. And so whenever I hear about Bitcoin yields I caution people to be not just vigilant, be double vigilant of how you would normally be because there's been so many scams in this area and bad companies that have gone bankrupt. Taking advantage of people looking to earn a yield on their bitcoin. It's really a nascent industry. And you know what? Look at Bitcoin's compounded annual growth rate over any period of time for years.   Nick Giambruno (00:42:50) - You don't need a yield. It's going up if the trends continue. And I always tell people if you're going to invest in Bitcoin, have at least a four year time horizon, because that's a long time horizon. But the reason is, is because that gives you through one halving cycle, these having cycles go every four years. It's almost impossible. There's maybe a couple of instances, a couple of days where the bitcoin price wasn't higher than it was four years ago. So I always tell people have a four year time horizon when you're dealing with Bitcoin. And when you look at the returns, that could be possible. And I think the pastor. Returns. Past performance doesn't guarantee anything in the future, but I think that being said, we can expect this cycle to be similar to the other cycles. When you see that kind of potential, it should really make you not interested in these yield products.   Keith Weinhold (00:43:39) - You mentioned a couple of bankrupt crypto exchanges there, BlockFi and Celsius. I got caught up in some of that.   Keith Weinhold (00:43:48) - Now I keep all of mine on a hard wallet because really what these exchanges do is they're centralize something that's supposed to be decentralized like Bitcoin, and it gives Bitcoin a really bad name. Nick, I had some people reach out to me when FTX imploded and people said, this proves that Bitcoin is a scam. And I had to gently explain to people, whoa whoa whoa whoa whoa whoa whoa. Just because Wells Fargo or Chase fails. We didn't say the dollar failed. It wasn't a failure in Bitcoin. It was a failure in these exchanges.   Nick Giambruno (00:44:20) - Oh, yes. This has been going on for a long time. And before FTX, there's Mt. Gox. There's a lot of these things. So I think the underlying lesson here in all of these examples is that don't trust third parties. And with Bitcoin you don't need to trust their authorities because if you can learn to custody your own Bitcoin, you are totally responsible, totally in control of your destiny. You don't have to worry about one of these bitcoin companies going bankrupt because you hold it and only you hold it.   Nick Giambruno (00:44:48) - And I think that's what makes it special.   Keith Weinhold (00:44:51) - This has been a great chat and I think a really good Bitcoin 101 for a person that still doesn't understand very much about it. And you help people understand Bitcoin, you do an awful lot of other things, including informing people about global trends and macroeconomics. So if someone wants to connect with you and learn more from you, what's the best way for them to do that?   Nick Giambruno (00:45:13) - The best place is Financial Underground Comm. I have a really helpful Bitcoin guide that shows people how to use it in the most sovereign and the most private ways possible, and I keep that guide up to date with the current best practices, because these things change very frequently. Like what is the best wallet, what is the best hardware wallet, and so forth. So I keep this guide alive with the best current practices. I think that would be a big help for people. Could definitely save them many, many hours of time by simply just identifying today's best practices. So I think that would be very helpful.   Nick Giambruno (00:45:45) - You can find all that at Financial underground.com.   Keith Weinhold (00:45:49) - Nick Bruno has been super informative. Thanks so much for coming on to the show.   Nick Giambruno (00:45:54) - Thank you Keith, great to be with you.   Keith Weinhold (00:46:01) - Another Bitcoin criticism is its energy use. Oh, look at all the electricity that mining consumes. What a waste. But the more you learn, you find that Bitcoin miners, they often use stranded energy sources that might not get used otherwise. In fact, miners have an economic incentive to use stranded and low cost energy. Volatility in Bitcoin's price has been a real problem if you want to use it as a currency. The price for one Bitcoin peaked at almost $70,000 in late 2021, and just a year later it was under 16 K, and now the price has swelled up a lot again from that recent low. In any case, if you choose to own Bitcoin or any other crypto, please store it on a cold wallet for security. It's a small device. It's about three times the size of a thumb drive. It looks like a thumb drive, and there is a learning curve that you have to meet in order to use one.   Keith Weinhold (00:47:04) - I don't own much gold or bitcoin, just a little. They both have their merits and risks like we've discussed. I'm a real estate guy. Even most gold and bitcoin proponents that I've talked with seem to agree with me that real estate is the proven wealth builder. I'm not sure if we'll ever devote another episode to Bitcoin here. I hope that today's episode at least equipped you to ask better questions, in case you want to know more about it. Today's episode had a more international than usual feel. Bitcoin has no boundaries. I'm in Ecuador and our guest Nick joined us from Argentina today. I'll be back in the US next week when I have some really important real estate trends to tell you about. Until then, I'm Keith Reinhold. Don't quit your daydream.   Speaker 7 (00:47:54) - Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss.   Speaker 7 (00:48:09) - The host is operating on behalf of get Rich education LLC exclusively.   Keith Weinhold (00:48:22) - The preceding program was brought to you by your home for wealth building. Get rich education.com.

P.M. Edition for Jan. 26. The nation's three biggest cell phone carriers reported strong gains this week—and much of the growth seems to be coming from customers switching plans, rather than signing up for new ones. Reporter Will Feuer explains. And the Fed's preferred gauge of inflation shows price pressures moderated in December. Plus, JPMorgan Chase CEO Jamie Dimon shakes up the leadership ranks. WSJ deputy bureau chief David Benoit explains. Annmarie Fertoli hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Dave Rubin of “The Rubin Report” talks about Joe Rogan's reaction to the crowd at UFC 297 erupting in a chant showcasing their anger at Justin Trudeau; MMA fighter Sean Strickland ripping a reporter to shreds who tried to depict him as a hateful bigot; UFC President Dana White shutting down a reporter who accused him of not controlling the speech of his UFC fighters enough; MSNBC's Joy Reid having her gotcha question for Moms for Liberty co-founder Tiffany Justice turned against her; JPMorgan Chase CEO Jamie Dimon delivering a fiery and unexpected defense of MAGA voters and Trump's policies; Camille Paglia warning Charlie Rose about educational institutions turning against western civilization in 1995; NYC's migrant crisis getting much worse as Tompkins Square Park becomes a giant toilet with migrants leaving cups of feces all over the public park; Democrat Max Frost suggesting that Republicans worried about the border crisis should vote to remove the Statue of Liberty; Novak Djokovic responding to a heckler demanding he get vaccinated at the Australian Open in the most perfect way possible; and much more. WATCH the MEMBER-EXCLUSIVE segment of the show here: https://rubinreport.locals.com/ Check out the NEW RUBIN REPORT MERCH here: https://daverubin.store/ ---------- Today's Sponsors: Truly Office - Secure your personal data and ditch mainstream office software providers like Microsoft and Google who misuse your data without your permission and switch to a safer alternative like Truly Office Software. Truly Office Software doesn't track or sell your data, giving you complete control over your personal information. Rubin Report viewers get a free trial of Truly Office Software for a limited time! Go to: https://trulyoffice.com/rumble Tax Network USA - If you owe back taxes or have unfiled returns, don't let the government take advantage of you. Whether you owe a few thousand or a few million, they can help you. Call 1-800-245-6000 or Go to: https://tnusa.com/dave Learn more about your ad choices. Visit megaphone.fm/adchoices

Haley strategy makes sense, but it looks like it's time for DeSantis to go. Latest poll has DeSantis at 5% in NH. Why there has been no reckoning for politicians who got covid wrong. JPMorgan Chase CEO Jamie Dimon echoes Trump on border. Iowa turnout was low. If Democrats indicted Trump to make him the nominee and they beat him, then Republicans walked into a trap. Jamie Dimon's motivation.Follow Clay & Buck on YouTube: https://www.youtube.com/c/clayandbuckSee omnystudio.com/listener for privacy information.

In a special episode of Squawk Pod, Joe Kernen, Becky Quick, and Andrew Ross Sorkin are at the World Economic Forum in Davos, Switzerland, where they're speaking with JPMorgan Chase CEO Jamie Dimon. He takes a hard look at American political tribalism in the wake of the Iowa Presidential Caucus, and he considers the trajectory of the U.S. economy. Plus, Dimon says that China is gladly opening up to foreign investments, and he's done talking about bitcoin–after this! Jamie Dimon talks about pet rocks, blockchain technology, and market hype.  In this episode:Becky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY

A panel of federal judges is considering the matter of presidential immunity, but what about the court of public opinion? We'll consider the results of a new poll on whether people think a president can pretty much do anything without fear of consequence or not. San Francisco is not in as good a place when it comes to jobs and the economy as New York City. That's according to JPMorgan Chase CEO Jamie Dimon. He says the types jobs available in San Francisco are not as diversified as NYC and that this is not a problem the city can tax its way out of. Michael Shure will be In to discuss politics as the landscape of GOP candidates shifts. Get ready to survey the wild stories out of Florida. It's always a good time with Friday Fabulous Florida. The Culture Blaster, Michael Snyder, gets us ready for entertainment offerings. From movies to sports, he'll set the stage for the weekend ahead.

WSJ compares metrics in Florida and California in advance of DeSantis-Newsom debate, Florida blows away California in every category, but results don't matter to Democrat voters. Disneyland in CA vs. Disney World in FL during covid. JPMorgan Chase CEO Jamie Dimon on the dire state of the world. Mark Cuban to quit Shark Tank and sell Dallas Mavericks, is he prepping an independent presidential bid?Follow Clay & Buck on YouTube: https://www.youtube.com/c/clayandbuckSee omnystudio.com/listener for privacy information.

Imagine if the Federal Reserve's decision to pause interest rate hikes could potentially put more money into your pocket. That's exactly what we're delving into today, along with the impact of JPMorgan Chase CEO Jamie Dimon's sale of one million shares of his own company. Could this be indicating his retirement or something more concerning about the health of the banking industry? We'll be dissecting these key financial events and exploring their potential ramifications for the economy.Switching gears into the realm of artificial intelligence, we'll be discussing President Biden's recent executive order on AI. Is this the dawn of a new era of innovation or is it a hurdle for businesses, particularly the giants of the social media world? But the million-dollar question here is - can laws truly regulate AI? We'll be navigating the complexities of this topic and examining the challenges and opportunities of AI regulation. So, strap in for an enlightening discussion as we unravel these substantial business events and their potential ripple effects on the economy.This episode is brought to you by Skilled Property Finders - Home of the 21 Day Close!We will close on your property in 21 days or less OR we'll pay an additional $5,000. Visit www.skilledpropertyfinders.com to find out more. Support the show

P.M. Edition for Oct. 27. JPMorgan Chase CEO Jamie Dimon plans to sell part of his stake in the nation's largest bank, for the first time. Banking reporter David Benoit has more. And Sam Bankman-Fried testifies before a jury in his fraud case. Cryptocurrency reporter Caitlin Ostroff has the highlights. Plus, Israel widens its ground operations in Gaza, in its most significant maneuver yet, ahead of an invasion intended to end Hamas rule. Annmarie Fertoli hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Strap in as we navigate some of the stormiest financial waters we've seen in decades, guided by the sobering prognosis of JPMorgan Chase CEO Jamie Dimon. As we pull back the curtain on a world grappling with escalating wars, skyrocketing national debt, and the looming threat of high inflation and interest rates, your understanding of the global economic landscape will be fundamentally transformed. Alongside discussions about the multi-faceted impacts of current geopolitical tensions on international trade, we'll also dissect JPMorgan's robust third-quarter profits and what they signify in these uncertain times.But the turbulence doesn't end there. We're also dissecting the surprising pivot from Philadelphia Federal Reserve President Patrick Harker, who's calling for a halt in rising interest rates. With in-depth analysis on this monetary policy U-turn and its potential repercussions on the economy, we're arming you with valuable insights for navigating these economic roller-coaster rides. Then, we shift gears to grapple with the unsettling trend of job cuts at LinkedIn, even as the company grows exponentially. We'll explore the role AI might be playing in this and its implications for the future of work. This is one journey you can't afford to miss.This episode is brought to you by Skilled Property Finders - Home of the 21 Day Close!We will close on your property in 21 days or less OR we'll pay an additional $5,000. Visit www.skilledpropertyfinders.com to find out more. Support the show