Podcasts about Treasury

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger Picture Trump trolls the climate people, temps are going down and there incredible amount of snow. China pushes forward with Silk road. Canada/China try to go around Trump’s tariff system and he warns Carney to stop. The people have been dependent on the government and its because of the [CB]. The [CB]/China are trying to stop Trump’s tariffs. Countries want their gold back. The [DS] is taking the information war and now moving to a physical war. The war is between the American people and the criminal syndicate. The [DS] want Trump to use the insurrection act during the midterms, this way they can use the narrative that he is going to stop the elections. Hold the line, the people are waking up. Trump’s counterinsurgency is getting bigger. Trump will not act until he has the leverage, buckle up its going to get bumpy.   Economy https://twitter.com/disclosetv/status/2015283109235732576?s=20 (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");   https://twitter.com/WallStreetApes/status/2014838127677030845?s=20  work, I lose my food stamps, I lose my health insurance and we’re only getting $100 back on taxes. Huh? This is why people don’t want to work because why am I working my butt off and losing all that stuff and still living paycheck to paycheck when I was living paycheck to paycheck before, but I at least had food stamps and health insurance and got $7,000 back. Yeah, how’s that math mathing?”  Repatriate The Gold’: German Economists Urge Withdrawal From US Vaults Shift in relations and unpredictability of Donald Trump make it ‘risky to store so much gold in the US', say experts  Germany is facing calls to withdraw its billions of euros' worth of gold from US vaults, spurred on by the shift in transatlantic relations and the unpredictability of Donald Trump. Germany holds the world's second biggest national gold reserves after the US, of which approximately €164bn (£122bn) worth – 1,236 tonnes – is stored in New York. Emanuel Mönch, a leading economist and former head of research at Germany's federal bank, the Bundesbank, called for the gold to be brought home, saying it was too “risky” for it to be kept in the US under the current administration.  “In the interest of greater strategic independence from the US, the Bundesbank would therefore be well advised to consider repatriating the gold.” Source: zerohedge.com Trump Suggests He Can Send $2,000 Tariff Rebate Checks Without Congress  Bessent has also suggested the $2,000 benefit might not take the form of direct cash disbursements.  the Treasury secretary said while he had not yet finalized details with Trump, the “dividend could come in lots of forms,” such as through tax reductions already under consideration—including exemptions for tips, overtime pay, and Social Security benefits, among other deductions. Source: zerohedge.com Political/Rights Anti-ICE Singer Bad Bunny Reportedly Planning to Wear a Dress at Super Bowl Halftime Show to ‘Honor Queer Icons'  Bad Bunny, the anti-Trump, anti-ICE, Puerto Rican rapper, whose real name is Benito Antonio Martínez Ocasio, is reportedly planning to wear a dress to “honor queer icons” during his Super Bowl halftime performance. The artist has a history of wearing skirts, dresses, and other bizarre costumes. According to a Radar Online report, Ocasio will wear the dress at the NFL's biggest game of the year to “honor Puerto Rican queer icons and generations of drag, resistance and cultural rebellion.” The report states: Source: thegatewaypundit.com https://twitter.com/mrddmia/status/2014745821682483678?s=20 https://twitter.com/disclosetv/status/2014735703490334753?s=20 DOGE  dramatic, final, and beautiful conclusion. I would also like to thank President Xi, of China, for working with us and, ultimately, approving the Deal. He could have gone the other way, but didn't, and is appreciated for his decision. PRESIDENT DONALD J. TRUMP Geopolitical https://twitter.com/KurtSchlichter/status/2015086947782525422?s=20    War/Peace   DONALD J. TRUMP PRESIDENT OF THE UNITED STATES OF AMERICA Medical/False Flags https://twitter.com/TheChiefNerd/status/2014517087830491440?s=20 [DS] Agenda https://twitter.com/gatewaypundit/status/2015410989953433956?s=20    BREAKING: Magistrate Judge Orders Release of Minnesota Church Protestor William Kelly All three Minnesota church protestors have now been released from federal custody. Nekima Levy-Armstrong, Chauntyll Allen, and William Kelly, A federal magistrate judge on Friday ordered the release of William Kelly, the far-left agitator who stormed a St. Paul church and harassed parishioners on Sunday. William Kelly was arrested and charged with conspiracy to deprive rights, a federal crime, and violating the FACE Act 18 USC 248 for his involvement in the St. Paul church riots. Kelly was wearing his signature “F*ck Trump” beanie when he was taken into custody. On Friday, Magistrate Shannon Elkins said there was no basis for pretrial detention.   Source: thegatewaypundit.com https://twitter.com/AAGDhillon/status/2015140496344314364?s=20  https://twitter.com/StephenM/status/2014479574847967639?s=20    https://twitter.com/AGPamBondi/status/2015219042441699797?s=20 https://twitter.com/MrAndyNgo/status/2015263298669707666?s=20   to protect people of color. Renee Good was shot dead two weeks earlier after accelerating her SUV toward a federal agent. https://twitter.com/amuse/status/2015259764800770348?s=20   were merely carrying for self-protection he wouldn’t have had that many rounds on him – it is clear he was prepared to kill as many officers as possible. He didn’t bring his permit or ID (it is illegal to carry in MN without both).   https://twitter.com/redsteeze/status/2015275183591010331?s=20 https://twitter.com/joeybeastmarket/status/2015154134849028324?s=20  his gun. Leftists cannot comprehend agency and therefore believe instead that he literally spawned on the sidewalk and through a series of fascist coincidences he was executed for exercising his constitutional right to do whatever he wants without consequences   1. Pretti engaged in obstructive behavior. 2. Pretti committed a felony assault against a federal officer while armed. 3. Pretti resisted arrest while armed. 4. The fact that Pretti had a gun was revealed to all Officers there. So a person for whom there was PC he had committed a violent felony, was resisting arrest, and was armed with a firearm were among the totality of circumstances known to the Officer at the time he used deadly force. Use of deadly force policy does not require the Officers to wait until they are attacked. https://twitter.com/prayingmedic/status/2015144823909728529?s=20 and assumes the suspect is going to begin shooting, so the cop kills him.   Great State of Minnesota? We are there because of massive Monetary Fraud, with Billions of Dollars missing, and Illegal Criminals that were allowed to infiltrate the State through the Democrats' Open Border Policy. We want the money back, and we want it back, NOW. Those Fraudsters who stole the money are going to jail, where they belong! This is no different than a really big Bank Robbery. Much of what you're witnessing is a COVER UP for this Theft and Fraud. The Mayor and the Governor are inciting Insurrection, with their pompous, dangerous, and arrogant rhetoric! Instead, these sanctimonious political fools should be looking for the Billions of Dollars that has been stolen from the people of Minnesota, and the United States of America. LET OUR ICE PATRIOTS DO THEIR JOB! 12,000 Illegal Alien Criminals, many of them violent, have been arrested and taken out of Minnesota. If they were still there, you would see something far worse than you are witnessing today https://twitter.com/MrAndyNgo/status/2015288336189952066?s=20     https://twitter.com/DHSgov/status/2015273624174023098?s=20   was found in possession of a bag containing several similar devices. The subject was arrested. https://twitter.com/amuse/status/2015293685336846546?s=20   https://twitter.com/MrAndyNgo/status/2015217649442013493?s=20   , which has become popular for the far-left in organizing violence due to its reach with mainstream liberals. Wagner has branded himself on the neck with the gang tattoo of the Antifa “Iron Front” logo, similar to how neo-Nazis brand themselves with fascist symbols. https://twitter.com/JackPosobiec/status/2015223657593716965?s=20 https://twitter.com/GoldenAgeTimes2/status/2015181318053581196?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2015181318053581196%7Ctwgr%5Ec578672a0fd7f78278c6fea2c4ab03241a2a7051%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F01%2Ftexas-democrat-senate-frontrunner-jasmine-crockett-says-ice%2F   blanche ability to do so.”  or several signals. Let's start with a screen recording of all members of the south side group to start.  to distract the public. Same Deep State playbook. https://twitter.com/MrAndyNgo/status/2015365238862786572?s=20   https://twitter.com/ElectionWiz/status/2015245963648962850?s=20     https://twitter.com/amuse/status/2015259080470802833?s=20 Neon vests for all feds immediately.

This week on The Necessary Conversation, we cover one of the most disturbing weeks yet in Trump's second term — from ICE killing an American citizen in broad daylight, to toddlers being detained and transported across state lines, to Trump humiliating the U.S. on the world stage while openly mocking climate science.

Jeffrey Epstein's entanglement with Leon Black and Larry Summers runs through the Jeffrey Epstein VI Foundation and its flagship project, the Institute for New Economic Thinking (INET), born out of the wreckage of the 2008 financial crisis. Black, the billionaire Apollo founder, bankrolled INET with roughly $25 million and installed himself as its chief patron, while Summers — fresh off his controversial presidency at Harvard and a career bouncing between Wall Street and Washington — became one of its intellectual faces. Epstein, already a convicted sex offender by 2008, quietly emerged as a financial conduit and behind-the-scenes broker for INET and its affiliates, using donor networks, shell foundations, and elite access to move money and cultivate influence. Through Epstein's foundation, funds were routed into academic projects, conferences, and research hubs that placed him back inside elite academic circles that had supposedly shut him out, laundering his reputation through economics, philanthropy, and intellectual respectability.What makes the IPI/INET web so corrosive is how thoroughly it fused money, power, and reputational cover. Black would later admit paying Epstein $158 million for “tax advice,” an explanation so implausible it collapsed under its own weight, while Summers maintained institutional ties to projects and donors connected to Epstein long after his 2008 conviction was public record. Epstein was not a peripheral donor — he was a facilitator, recruiter, and fixer who connected hedge-fund money, Ivy League legitimacy, and political access in a closed loop that insulated all participants from scrutiny. The IPI ecosystem gave Epstein exactly what he needed after Florida: proximity to young academics, international travel, visa sponsorships, and an elite shield that made him look like a disgraced financier turned reformed intellectual benefactor. It wasn't an accident, and it wasn't ignorance — it was a deliberate system where billionaires, former Treasury secretaries, and a convicted predator all found mutual benefit inside the same polished academic machine.to contact  me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.

Clean energy should be easy to finance.The money exists.The technology works.The demand is real.And yet, projects stall. Deals drag. Capital gets stuck.And with the IRA crumbling under our feet, everyone is right to ask “how will these projects actually get funded?!”So what's actually broken?In this episode of SunCast, I sit down with Alfred Johnson, CEO and co-founder of Crux, to unpack how clean-energy finance actually works once a project leaves the slide deck — how pricing gets discovered, how risk is evaluated, how trust is established between parties who've never worked together, and why so much of the process still depends on manual workflows and bespoke negotiation.Alfred left a senior role at the U.S. Treasury after reading the Inflation Reduction Act and realizing it didn't just expand incentives - it forced the creation of a brand-new market. One where buyers and sellers had to find each other without reference prices, standardized terms, or a shared operating system to move capital at scale. Crux exists to solve that coordination problem.We talk about:

A bipartisan bill signed into law last year is now giving Native Americans residing in Arizona the option to update their state-issued identification to show their tribal affiliation. As KJZZ's Gabriel Pietrorazio reports, it comes at a time when Indigenous peoples are being swept up in immigration raids – including Peter Yazzie (Navajo), who was recently detained by U.S. Immigration and Customs Enforcement (ICE) agents in the Phoenix metro area. This new marker is akin to getting an organ donor or veteran insignia on any form of ID, including a driver license. To do so, applicants need to prove that they're enrolled in a tribe by submitting a Certificate of Indian Blood (CIB), and so far, the Arizona Department of Transportation has gotten more than 1,600 requests for the designation. That idea of streamlining legal documents came from State Rep. Myron Tsosie (Navajo/D-AZ). “Instead of having to dig out all your cards to show that you are Native American.” And had nothing to do with ICE. “That wasn't the purpose, but I'm hearing from constituents saying that I feel safer now.” And it's something Thomas Cody, executive director of the Navajo Nation's Division for Child and Family Services, is encouraging his Diné urban relatives to seek out. “It's unfortunate that we have to have an ID that we're Native Americans. We shouldn't but I'm glad the state of Arizona, Gov. [Katie] Hobbs is taking an extra step.” His deputy director Sonlatsa Jim thinks this service is much-needed – not just for Navajos living in the Grand Canyon State. “Because we are the largest Native American tribe, you'll find a Navajo tribal member anywhere in the United States.” That's why Tsosie is working with neighboring Utah and New Mexico state lawmakers to adopt his legislation aiming to help cover more of Indian Country, including the rest of his sprawling 27,000-square-mile reservation. The federal government is reviewing the business program that benefits Alaska Native corporations and tribes. The Alaska Desk’s Alena Naiden from our flagship station KNBA reports. In a video posted on X January 16, U.S. Secretary of Defense Pete Hegseth said his department will review the 8(a) Business Development Program. That program falls under the federal Small Business Administration (SBA) and supports businesses owned by socially disadvantaged individuals or tribes including Alaska Native Corporations. We are taking a sledgehammer to the oldest DEI program in the federal government—the 8(a) program. pic.twitter.com/c9iH8gcqG7 — Secretary of War Pete Hegseth (@SecWar) January 16, 2026 Sec. Hegseth said in the video that the 8(a) program promotes the diversity, equity, and inclusion (DEI) framework and race-based contracting. In the 8(a) program, the federal government sets aside contracting opportunities for disadvantaged small businesses. Tribal entities can have multiple companies in the program, while individuals can only have one. Alaska Native Corporations rely heavily on federal contracts often received through the 8(a) program. Data from the Federal Reserve Bank of Minneapolis shows that it is their primary source of revenue. And most of those contracts come from the U.S. Department of Defense. Quinton Carroll is the executive director of the Native American Contractors Association, and originally from Utqiagvik. “Native participation in the 8(a) program is not a DEI initiative.” Carroll says the program “fulfills longstanding federal trust and treaty obligations to tribes, Alaska Native Corporations, and Native Hawaiian Organizations.” Hegseth ordered a line-by-line review of sole-source 8(a) contracts that are over $20 million. He said in the social media video that the department will get rid of contracts that do not make the country's military more lethal. Hegseth also said the department will make sure that the businesses getting a contract are the ones actually doing the work. He claimed that often small businesses receive the contract, take a fee, and pass it to a giant consulting firm. However, Carroll says Native federal contractors have been partners of the Department of Defense. He added that Native contractors also support the elimination of fraud and waste within the program. The 8(a) program has faced scrutiny from other directions as well. President Donald Trump signed an executive order in April, directing rewriting of federal contracting regulations. The SBA and Treasury department have been both investigating the program as well. Get National Native News delivered to your inbox daily. Sign up for our daily newsletter today. Download our NV1 Android or iOs App for breaking news alerts. Check out the latest episode of Native America Calling Friday, January 23, 2026 — Native Bookshelf: “Special Places, Sacred Circles” by Virginia Driving Hawk Sneve

In this special in-person interview, Jim Rickards breaks down why the Trump administration is far more strategic than the media portrays, explaining the "flood the zone" tactic and Scott Bessent's "Three Arrows" approach to bringing down the debt-to-GDP ratio. Jim dismantles the popular "debasement trade" narrative, revealing that foreign central banks are not dumping Treasuries and that the real risk lies in the Eurodollar market and the $1 quadrillion derivatives system underpinning global finance. He warns that stablecoins are quietly hoarding Treasury bills needed for collateral — and the risk of fraud waiting to blow up. On gold, Jim explains why $5,000 is just the beginning, making the case for $10,000 to $25,000 based on historical precedent from the 1970s when the dollar lost 94% of its value measured in gold. He also offers a bold prediction: the potential breakup of NATO as geopolitical alliances fracture under pressure. More about Rickards: Rickards is a New York Times bestselling author of Currency Wars: The Making of the Next Global Crisis and several other best-sellers, including The New Great Depression, Aftermath, The Road to Ruin, Death of Money, The New Case for Gold, Sold Out: How Broken Supply Chains, Surging Inflation, and Political Instability Will Sink the Global Economy, and his newest book MoneyGPT: AI and the Threat to the Global Economy. An investment advisor, lawyer, inventor, and economist, Rickards has held senior positions at Citibank, Long-Term Capital Management, and Caxton Associates. He is also the Editor of Strategic Intelligence, a widely-read financial newsletter. Links:  http://www.jamesrickardsproject.com/ https://x.com/RealJimRickardsTimestamps: 0:00 Intro 2:33 Why the second Trump term is different from the first 5:25 The Heritage Foundation and Project 2025 6:45 Executive orders and legislative wins 8:20 Federal courts and the Supreme Court battles 9:49 The economy: Is it really chaos? 11:32 The national debt: Why $39 trillion isn't the number to watch 13:45 The debt-to-GDP ratio explained 15:30 The Keynesian multiplier and diminishing returns 17:38 How we fixed the debt ratio after WWII (1945-1980) 18:36 Scott Bessent's "Three Arrows" strategy 19:19 The debasement trade: Why it's a false narrative 21:15 Are foreign central banks dumping Treasuries? (No) 23:15 What triggers a financial panic 24:45 How the Fed actually "prints money" 26:30 The Eurodollar market: Where real money comes from 28:00 The $1 quadrillion derivatives market 30:15 Stablecoins: The hidden risk in crypto 33:24 Tether's commercial paper problem 35:37 Gold: Why it's really moving 37:45 The Russian asset freeze and its unintended consequences 42:26 Gold does well in deflation too 45:48 The first Pentagon financial war game (2009) 49:54 Gold's trajectory: $10,000 to $25,000 or higher 51:45 The 1970s: When gold went up 2,700% 55:30 Anchoring bias and why $1,000 jumps get easier 56:33 Jim Rogers on the 50% retracement rule 58:49 Silver: Precious metal meets industrial input 63:21 Bold prediction: The potential breakup of NATO 67:34 Parting thoughts: True diversification

Steven Robinson, Editor-in-Chief of the Maine Wire, leads New England's fastest-growing digital media outlet focused on exposing political corruption and organized crime across local, state, and regional levels. A native of Dexter, Maine, and Bowdoin College graduate in political philosophy, he previously worked at Regnery Publishing, produced the Howie Carr Show, and handled Barstool Sports' Kirk Minihane Show and true-crime podcast The Case, which spurred murder charges per season. During COVID-19, he quit his job to travel 35,000 miles across North America in a camper van before returning to Maine in November 2022 to revitalize the Maine Wire as an aggressive, independent platform for underreported stories, bold investigations, and commentary. Robinson's groundbreaking "Triad Weed" series, launched in August 2023 after a leaked DHS memo revealed over 270 illicit cannabis operations by Asian Transnational Criminal Organizations in Maine, uncovered a vast Chinese mafia network spanning Maine to southeast China. His reporting exposed racketeering involving black-market cannabis, human and sex trafficking, money laundering, bank fraud, illegal border crossings, neurotoxins poisoning homes, murder, and national security threats—including CCP-linked properties near U.S. Army facilities. He provided exclusive details on the exploitation of U.S. Treasury–subsidized loans that allowed foreign nationals to purchase over 70 properties. Cited in Congressional reports and featured on CBS, Fox News, the Daily Mail, OANN, and more, Robinson's work has led to over 60 articles, property raids, arrests, Sen. Susan Collins' interrogations of intel agencies, and the documentary Triad Weed: How Chinese Mafia Infiltrated Maine. Local police praise it as a field manual, though Maine media avoids the story. Shawn Ryan Show Sponsors: Get firearm security redesigned and save 10% off @StopBoxUSA with code SRS at https://www.stopboxusa.com/srs #stopboxpod Put your money to work with Stash—visit get.stash.com/SRS to receive $25 towards your first stock purchase and view important disclosures. https://bubsnaturals.com – USE CODE SHAWN Ready to upgrade your eyewear? Check them out at https://roka.com and use code SRS for 20% off sitewide. Steve Robinson Links: X - https://x.com/BigSteve207 X - https://x.com/TheMaineWire Substack - https://robinsonreport.substack.com The Maine Wire - https://www.themainewire.com High Crimes Documentary - https://tuckercarlson.com/high-crimes Harpe - https://getharpe.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Here's your Daily dose of Human Events with @JackPosobiecStart 2026 with less exposure and more control with Patriot Protect at https://www.PATRIOT-PROTECT.COM/POSO. Use promocode POSO for 15% off your yearly subscription. You never agreed to share this information. Now you can take it back.The government has no business forcing things into your water. Don't wait for them to sort out pure water – you have to do it yourself. That's https://www.covepure.com/POSO, for $200 off.Go to https://www.BlackoutCoffee.com/POSO and use promo code POSO for 20% OFF your first order.Support the show

All eyes have been on President Trump's address at the World Economic Forum. Michael Zezas, our Deputy Global Head of Research, and Ariana Salvatore, our Head of Public Policy Research, talk about potential implications for policy and the U.S. outlook.Read more insights from Morgan Stanley.----- Transcript -----Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Deputy Global Head of Research for Morgan Stanley. Ariana Salvatore: And I'm Ariana Salvatore, Head of Public Policy Research. Michael Zezas: Today we're discussing our takeaways from President Trump's speech in Davos and what we think it means for investors. It's Wednesday, January 21st at 1pm in New York. Michael Zezas: So, Ariana, over the last couple of weeks, there's been a lot of news about policy proposals coming out of the U.S. and from President Trump around affordability, as well as some geopolitical events around the U.S. relationship with Europe. And investors really started looking towards President Trump's speech at Davos, which he gave earlier today, as a potential vehicle to learn more about what these things would actually mean and what it might mean for the economic outlook and markets. Ariana Salvatore: Yeah, that's right. I think specifically investors were looking for the President to focus on affordability proposals pertaining to housing and some commentary around Greenland. Remember last weekend, President Trump proposed a 10 percent tariff on some EU countries related to this topic specifically. So obviously that did feature in his speech. What did we learn and what do you think are the most important things for markets to know? Michael Zezas: So, maybe the most important headline we got was President Trump appearing to take off the table the use of force when it comes to an attempt to acquire Greenland. And that would seem to, therefore, take off the table the idea of a broader rupture in the U.S.-EU relationship. Both the security relationship vis-a-vis NATO, as well as the economic relationship which could have been ruptured with higher tariffs on both sides, anti coercion measures around trade, and that would be of obvious economic importance. Europe is obviously a major importer of U.S. goods. Not as big as Canada or Mexico, but still pretty significant. So, anything that would've created higher barriers between the two would've had meaningful economic consequences for the U.S. outlook. Ariana Salvatore: Yeah, that's right. And we've been saying that the bilateral trade framework agreement between the U.S. and the EU is actually pretty tenuous in nature, right? So, this doesn't yet have formal backing from the European Parliament. They, in fact, delayed a vote on this exact deal, kind of on the back of these Greenland headlines. So how are we thinking about, you know, what's been priced into markets and maybe what this could mean for something like the dollar going forward? Michael Zezas: Yeah, so it's important to point out that we're not out of the woods yet in terms of potential trade escalation on both sides around the Greenland issue. However, it seems like that bigger tail problem of a decoupling might have gone away. And so, what you saw in markets so far today was that some of the actions over the past, kind of, 24-48 hours with equity market weakness. You know, the S&P was down about 2 percent yesterday. The dollar was weaker. It seemed like more term premium was being baked into the U.S. Treasury market. A lot of that appears to be unwinding today. Said more simply, the idea of a kind of riskier investment environment for the U.S. is getting priced out. At least today, it's getting priced out. And it all makes sense when you think about if there was less of a relationship between the U.S. and Europe, there would be less demand for U.S. dollar holdings overseas. And that's the type of thing that should manifest in a weaker dollar and higher term premia, steeper yield curves for U.S. Treasuries. Ariana Salvatore: Yeah, and that dovetails really nicely with the work that we just put out with the FX team, kind of highlighting some of the policy factors as push factors for countries to move away from the dollar. We think that's happening marginally. We think it's not really a risk in the immediate term, but some of these policy drivers can actually create dollar weakness over the medium to longer term. Michael Zezas: Of course, to the extent that we get news that this is a head fake and that tensions are re-escalating, you'd expect some of those trades to start pushing markets back in the other direction again. Now, President Trump also talked quite a bit about domestic policy, largely about affordability, and some of the policy proposals he's put forward over the last couple of weeks. Was there any new details that you heard that you think are meaningful for investors? Ariana Salvatore: So, the short version is nothing really new, and the reality is that a lot of housing policy in particular is actually out of the hands of the executive. And even if you do see congressional action here, it's likely to be marginal. A lot of housing policy is done at the state level, and even bipartisan efforts to address both the demand and the supply sides of the equation have faced some resistance in Congress. That doesn't mean they can't reemerge. But we would need to see a very large decline in the mortgage rate to get noticeable effects on economic indicators like GDP, inflation and employment. And in terms of what this means for the housing outlook, the programs talked about so far should push sales marginally higher but have little impact on our expectations for our home prices. Now it's important to note that the president didn't spend that much time of the speech talking about housing affordability proposals, as was telegraphed ahead of time. And since that, the head of the NEC Kevin Hassett has said they plan to announce more details on housing in the coming days. Michael Zezas: Got it. So, on the two pieces here that investors have really focused on, which are capping institutional ownership of single-family homes and potentially capping interest rates on credit cards, it sounded like the president talked about he would go to Congress for authorization on those things.Is that right? And if so, how plausible is it that Congress could actually deliver those authorities? Ariana Salvatore: So, here's where I think it's really critical to understand the role that Congress has to play in all of these policy initiatives. So, there are not only political constraints, but there are also procedural ones. If we were to see Republicans kind of push for this 10 percent cap, for example, that likely would have to go through the reconciliation process. And that process, as we know, comes with a number of limitations because something like a 10 percent cap wouldn't have much of an impact on the federal budget in terms of revenues or outlays. We think it's most likely not going to be permissible under that framework. So, understanding that the first filter here is Congress, and the second filter is these procedural limitations that exist in and of themselves is really important context for understanding the president's proposals on housing.Michael Zezas: So, is it fair to say the starting point is that we think Congress is unlikely to act on these things? And what would you have to see that might make you think differently? Ariana Salvatore: I think where we're looking for signals from Republican leadership in Congress – because as of right now, it's been our thinking that a second reconciliation bill ahead of the midterm elections is not feasible. It's too difficult politically, it takes a lot of time, but if you see enough of a push from the president, we do think that can start to become feasible. Again, we have to keep in mind these procedural limitations and where the rest of the party falls on these issues. But I think they're possible if the administration pushes hard enough for them.Michael Zezas: Got it. So, even though we don't think it's likely, we obviously want to prepare in case that happens. When it comes to housing, it seems like our team has said institutional ownership of single-family housing is quite low, 1 percent or less. And so, restrictions there wouldn't necessarily change the game on home prices. What about the 10 percent cap on credit card interests? What are the broader ramifications that our colleagues see? Ariana Salvatore: Yeah, so I'd say generally speaking, when it comes to consumer credit affordability policies, our strategists think that these could actually translate to a benefit for consumer ABS performance because they tend to be a tailwind for a consumer that's struggled with rising delinquencies and defaults post-COVID, right? However, there are some specific proposals like this cap on credit cards, and that's likely going to have a negative consequence because it's going to limit credit access for consumers, especially for those carrying a balance. So, probably a little bit counterintuitive to the overall affordability agenda that the administration's trying to go for. Michael Zezas: So, lots of interesting stuff coming out of the speech. Lots of things we have to track over the next few weeks and months. It certainly doesn't seem like it's going to be a boring year two of the Trump term for investors. Ariana Salvatore: Certainly not, and not for us either. Michael Zezas: Well, Ariana, thanks for finding the time to talk. Ariana Salvatore: Great speaking with you, Mike. Michael Zezas: And as a reminder, if you enjoy Thoughts on the Market, please take a moment to rate and review us wherever you listen. And share Thoughts on the Market with a friend or colleague today.

Listen to Treasury of the Heart - Refresher with Pastor Kevin Shindoll from Sunday, January 4, 2026.Love is our Why. Join Us Online at 10/11 AM on Sundays and 7:30 PM on Wednesdays. To give online, visit wayoflife.church/give or text the word GIVE to 817-382-3270, click the link, and follow the prompts. If you need prayer, visit wayoflife.church/connect so we can pray for you.

LISTEN and SUBSCRIBE on:Apple Podcasts: https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608 Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i WATCH and SUBSCRIBE on:https://www.youtube.com/@WatchdogOnWallstreet/featured  Presidents don't set interest rates. Markets do.In this segment, Chris explains why trying to “force” low interest rates—whether by the Fed, the White House, or political pressure—is an exercise in futility. From Trump's Davos comments to Fed rate cuts that didn't lower long-term borrowing costs, the bond market keeps delivering the same message.The Fed cut rates by 175 basis points since September 2024—yet 30-year Treasury yields jumped from under 4% to nearly 5%. Mortgage bond purchases? Temporary blips, then right back up.The bond vigilantes are real, and they don't care about speeches or spin.If you want lower rates, there's only one answer: get fiscal discipline under control—balance the budget and pay down debt. Everything else is noise.

In this episode of the “Always On Podcast,” host Duncan McPherson sits down with Roger Silk, the CEO and co-founder of Sterling Foundation Management. They discuss the evolving role of financial advisors and the increasingly complex needs of high-net-worth clients. As financial landscapes shift, advisors must adapt to new challenges and opportunities, particularly when it comes to managing significant liquidity events. Roger Silk shares his expertise on asset diversification trusts, a powerful tool that allows clients to sell appreciated assets without incurring capital gains tax. This episode highlights the importance of proactive planning and the strategic value of long-term partnerships between financial advisors and their clients. Key highlights include: The role of asset diversification trusts in tax-efficient asset management. The necessity of early planning for liquidity events to maximize client benefits. Strategies for financial advisors to strengthen client relationships through collaboration. Insights into leveraging philanthropic solutions for wealth preservation and growth. Tune in and discover the insights needed to become trusted partners in their clients’ financial journeys, ensuring both immediate and long-term success. Promotions: Pareto Systems AI Coaching Program – Use promo code AlwaysOn20 for 20% for a limited time! Pareto Systems: Turnkey Advisor Membership Connect With Duncan MacPherson: Website: ParetoSystems.com Toll Free: 1.866.593.8020 Learn More: Schedule a Call LinkedIn: Duncan MacPherson Connect With Roger Silk, Ph.D.: LinkedIn: Roger Silk Website: SterlingFoundations.com Podcast: Sterling Insights About Our Guest: Roger D. Silk, Ph.D. , is the CEO of Sterling Foundation Management, LLC and President of Lifetime Perspectives, Inc. Dr. Silk is widely recognized as a leading expert and innovator in the emerging field at the intersection of finance and philanthropy. Dr. Silk has more than three decades of experience working with and advising wealthy clients, high net worth families, and the advisors who work with them on a variety of issues ranging from the use of private foundations to the integration of sophisticated charitable planning into multi-generational estate plans. He has worked with numerous investment, accounting, financial planning, and legal professionals to educate them, their firms, and their clients about the benefits and characteristics of a full suite of solutions, entities and planning tools. Dr. Silk is the author of several books, including The Investor's Dilemma Decoded (Wiley, 2024), Managing Foundations and Charitable Trusts (Bloomberg Press, 2011), Creating a Private Foundation (Bloomberg Press, 2003), and Politicians Spend, We Pay (Sterling Lifetime Press, 2022). He has published dozens of articles that have appeared in periodicals such as Estate Planning, Philanthropy, the Journal of Financial Planning and Trusts & Estates. He has spoken to audiences around the country on the types and uses of charitable entities, and he frequently conducts educational seminars for financial professionals focusing on integrating the full suite of charitable entities into the financial planning process. Prior to co-founding Sterling, Dr. Silk was a Treasury officer at the World Bank, where he was responsible for a multi-billion-dollar repo portfolio. Dr. Silk holds a Ph.D. and an M.A. in Applied Economics from Stanford University, as well as a B.A. in Economics (with distinction). He earned his CFA in 1990.

Michael Saylor cala la maschera. in una recente clamorosa intervista il CEO di Strategy si inalbera quando viene interrogato sul modello di business delle Bitcoin Tresury Company e dimostra inequivocabilmente di essere solo l'ennesimo servo di Wall Street.Inoltre: brogli e violenza durante le elezioni in Uganda, l'Iran collassa e i cittadini scoprono bitcoin, arriva Rawbit il nuovo visualizzatore didattico, è operativo il BIP3, pagamenti bitcoin in Tailandia grazie a PlebQR, assegnati i premi di Time2Build, e Gloria Zhao viene hackerata.It's showtime!

Humans have shaped the world more than any other species in existence, largely due to our ability to coordinate and work together as a unit – in other words, to govern ourselves. This means that, while human societies are at the center of the many crises we face today, we are also the key to navigating through them safely. But this is only possible if we're able to hold the foundations of our governance together: communication, agency, and remembering our shared humanity. What is the current state of our ability to do this, and what policy mechanisms and agreements are needed to navigate the turbulent decades to come?  In this Reality Roundtable, Nate is joined by geopolitical risk experts Mark Medish and Chuck Watson to discuss the increasing strain being placed on human governance as a result of escalating conflicts between nations and state leaders. Together, they delve into the intricate foundations of our modern governing structures and why it is critical that we reinforce existing international treaties and agreements in order to avoid the worst outcomes for all of humanity. Mark and Chuck also discuss the history of nuclear arms control – including the upcoming expiration of the New Strategic Arms Reduction Treaty (New START) – and how artificial intelligence threatens to disturb the tenuous peace built in the 20th century. Ultimately, they emphasize the need to renew public awareness and education on the importance of governance and the need for our leadership to engage in diplomatic negotiations in an increasingly complex world. Despite the media's focus on laws, regulations, and technology, why do people and our shared humanity still lay at the center of good governance and decision making? Where are our current leaders failing us, and does the average citizen still hold agency to influence the trajectory of global events? Lastly, what do we risk by abandoning trust in our fellow citizens and nations, and what opportunities are still available to rebuild our confidence in each other?  (Conversation recorded on January 8th, 2026)   About Mark Medish: Mark Medish has over 30 years of professional experience in policy, law, finance, and strategic communications. Medish served at The White House as a Special Assistant to the President and Senior Director on the National Security Council, as well as at the U.S. Treasury as Deputy Assistant Secretary for International Affairs. He also worked in senior positions at the State Department (USAID) and the United Nations (UNDP). Medish is Vice Chair of Project Associates Ltd., a London headquartered strategic consultancy with offices in Europe, the Middle East, East Africa, and the U.S. He is also a founding partner of the Mosaiq Law Group in Washington, D.C., and a co-founder of Keep Our Republic, a non-profit civic education organization promoting democratic governance and rule of law. His previous business leadership posts include: president of The Messina Group, a boutique strategic communications firm based in Washington, D.C.; president of the international division of Guggenheim Partners, an asset management company headquartered in Chicago; and equity partner at Akin Gump, an international law firm where he led the sovereign advisory practice. He worked as a vice president for studies and senior scholar at the Carnegie Endowment for International Peace. He was a visiting research fellow at The Japan Institute of International Affairs in Tokyo. He is a life member of the Council on Foreign Relations. He is also a board member of the Institute for the Study of Diplomacy at Georgetown University and the Institute for Human Sciences (IWM) in Vienna.   About Chuck Watson: Chuck Watson has had a long career in international development projects as well as military and intelligence work, with a specialty in natural and human-made disaster modeling. He worked for the US Air Force, was an attaché to US Ambassadors to the Middle East Robert McFarland and Secretary of Defense Donald Rumsfeld.  Chuck has worked as an advisor to governments for over four decades with a particular emphasis on big data, open source intelligence, with an emphasis on the Soviet Union and Russia. Chuck is also the founder and Director of Research and Development of Enki Holdings, LLC, which designs computer models for phenomena ranging from tropical cyclones (hurricanes) and other weather phenomena, earthquakes, and tsunamis, as well as anthropogenic hazards such as industrial accidents, terrorism, and weapons of mass destruction.   Show Notes and More Watch this video episode on YouTube   Want to learn the broad overview of The Great Simplification in 30 minutes? Watch our Animated Movie.   ---    Support The Institute for the Study of Energy and Our Future   Join our Substack newsletter   Join our Hylo channel and connect with other listeners  

President Trump is threatening tariffs on eight NATO allies to force a deal on Greenland. Europe says it isn't for sale. So what happens when an immovable object meets an unpredictable force? Tit-for-tat counter-tariffs, an untested “trade bazooka,” or the nuclear option: leveraging $8 trillion in US assets. And in today's Dumb Question of the Week: Can a Treasury auction fail? ---Get in touch

Jack Lew was drawn to a mission of service well before becoming the 76th U.S. Secretary of the Treasury. As a kid in Forest Hills, Queens, he stepped up as his high school's inaugural Earth Day coordinator. Inspired by a local rabbi, he supported low-income housing in his hometown. Raised in a home committed to Jewish life and Zionism but also social justice and the community around him, Lew never wavered from an equal sense of responsibility to both worlds. In fact, it's that very outlook that led him to a storied career in public service without ever sacrificing his Jewish faith and practice.   On January 13th, Rabbi David Wolpe sat down with Secretary Lew for an in-depth SAPIR Conversation. Together, they reflected on moments both personal and historic: the time President Clinton left Lew a voicemail on Shabbat; the pivotal conversation he had with President Obama before accepting the position of White House Chief of Staff; the experience of serving as U.S. Ambassador to Israel weeks after October 7th. They also discussed the future of U.S. military assistance to Israel, the fate of American Jewry, and – this being a SAPIR issue on Money – his understanding of the ideal form of Tzedaka, or charity.   Read the SAPIR essays referenced in this SAPIR Conversation, including:   Ilana Horwitz's essay on Poverty and Jewish Community: https://sapirjournal.org/money/2025/poverty-and-jewish-community/   Jordan Chandler Hirsch's essay on The Need for a Jewish Sovereign Wealth Fund: https://sapirjournal.org/money/2025/the-need-for-a-jewish-sovereign-wealth-fund/   Music from #Uppbeat (free for Creators!): ⁠https://uppbeat.io/t/theo-gerard/monsieur-groove 

'This is sell America' U.S. dollar, Treasury prices tumble and gold spikes as globe flees U.S. assets; A major winter storm is brewing. It s likely to unleash dangerous ice and snow from the Plains to the East Coast; Conservation groups sue over EPA approval of forever chemical; AR immigration advocates address new visa rules; NY doctors help develop new cancer research database.

'This is sell America' U.S. dollar, Treasury prices tumble and gold spikes as globe flees U.S. assets; A major winter storm is brewing. It s likely to unleash dangerous ice and snow from the Plains to the East Coast; Conservation groups sue over EPA approval of forever chemical; AR immigration advocates address new visa rules; NY doctors help develop new cancer research database.

For this episode we are going off topic.  I was lucky enough to do a bucket list trip.  Two weeks starting in Jordan, and then cruising down the Nile in Egypt.  I met this amazing podcaster on the trip and of course we had to do a podcast about the trip.  To hear more about river cruises and travel - please check out River Cruising Masterclass Podcast by Sydney Schellinger or follow this link: https://open.spotify.com/show/3xzx88VZ2GXpUh17Ek0H0xFirst a note to anyone thinking about going to Egypt - it is safe!  If anyone tells you different do not listen to them.  As long as you are with a tour group, you will be fine!My overall itinerary- Wednesday - Travel to Istanbul, with a connecting flight to Amman, Jordan, followed by a four hour drive to Petra.Thurs  Petra - Home of "The Treasury".  Building that were cut into stone.  Petra is several miles long and you should take two days because there is just so much to see.Fri  Petra - Went to the top of the mountain, which is 950 steps, to see the great temple (not related to Egyptians or pharaohs) Sat  Travel to Cairo - 4 hour car ride and 2 hour plane ride... it's not an afternoon walk for sure!  Went to the Grand Bazaar our first night.  Cairo is double the density of people per square foot when compared to New York City.  Home to 25 million people!  This is where our official tour with Uniworld began.Sun  Cairo - a tour of the Citadel and Mohammad Ali Mosque, which is modeled on the Blue Mosque of Istanbul.  From there we went to the Grand Egyptian Museum (GEM).  Mon Travel to LuxorTues  Dendera - Dendera Temple.  It is the most complete temple in all of Egypt. The only place in Egypt where Queen Cleopatra is actually depicted - who was not a queen BTW. Wed  Luxor - hot air balloon ride over the Valley of the Kings and saw 2 of the 62 tombs there plus King Tut's Thurs  Kom Ombo - the Kom Ombo Temple half dedicated to the Crocodile God (an evil good) and half to the God of Protection (a good god).  The Kom Ombo Temple showcases the use of medical tools for brain surgery and cesarian operations (performed by the high priest in 230 BC! Forceps, clamps, tubbing, and sponges can all be cleary seen.Fri  Aswan - temples of Ramses II and Queen Nefertari.  These were moved to higher ground when Aswan dam was built Sat Aswan - tour of the Philae temple and the quarry where all the obelisks were created Sun Esna - the Khum Temple  - a lot of the original colors are still visible.  It was converted to a church by Coptic Christians who burned fires inside.  The resulting soot covered the colors and archeologists are removing the soot, exposing amazing colors.  Mon 1/5/2026 Cairo - back to the US!Support the showBehind The Veil Crew:Host: Keith Willard www.keithwillardevents.com www.instagram.com/keithwillard Co- Host: Marci Guttenberg www.anaffairtorememberbymarci.com www.instagram.com/anaffairtorememberbymarci

This week, we speak with Asheesh Birla, CEO of Evernorth. Evernorth is a crypto treasury focused on XRP, a cryptocurrency that is used in decentralized financial structures and payments. It aims to power that endeavor through its business combination with Armada Acquisition Corp. II (NASDAQ:XRPN), announced in October. Crypto treasury deals were one of the major themes of 2025 SPAC dealflow, but they are far from being all the same.  Asheesh explains how the company plans to leverage its XRP holdings to generate yield over the long term and how XRP's unique appeal in international markets presents a fresh opportunity for the crypto treasury model. Give it a listen. This interview contains forward-looking statements. See linked press release for important disclaimers: https://www.evernorth.xyz/press-release-10-20-2025

In this episode Dave Lund, CEO of FlowRate, discusses the emerging concept of yield in the Lightning Network. Dave shares his background in the Bitcoin space and explains how FlowRate aims to bridge the gap between traditional treasury management and the Lightning ecosystem. He emphasizes the importance of liquidity leasing and routing fees as potential yield strategies for Bitcoin treasury companies, highlighting the need for businesses to adapt to this new financial landscape. The conversation explores the challenges and opportunities that come with operating on the Lightning Network, particularly for institutional players looking to maximize their Bitcoin holdings.Dave also elaborates on the significance of network topology in the Lightning ecosystem, explaining how a well-positioned node can enhance yield potential. He also addresses the security concerns that treasuries face when deploying Bitcoin on Lightning, advocating for improved security measures such as multi-signature solutions. Dave predicts that liquidity leasing could eventually replace the traditional bond market, positioning Bitcoin as a viable fixed-income asset.Takeaways:

Stocks suffered big losses after President Donald Trump intensified his rhetoric on Greenland, Treasury yields spiked and the U.S. dollar declined as Trump's threat caused a flight from U.S. assets, More on the next Pints and Portolios on Saturday February 7th from 12 noon to 2pm with EP Wealth Advisors and Rob Black in Pleasant Hill with exact location given once you register

Ben and Fish discuss Trump's latest comments on Greenland and the market sell-off.Join our live YouTube stream Monday through Friday at 8:30 AM EST:http://www.youtube.com/@TheMorningMarketBriefingPlease see disclosures:https://www.narwhal.com/disclosure

Credit union lending faces pivotal changes in 2026 as interest rates, inflation, and regulatory shifts reshape the landscape. In this episode of Credit Union Conversations, host Mark Ritter and MBFS COO Jeff Lyons make bold predictions about fed rate movements, treasury rates, and commercial lending growth. They discuss how rising delinquency rates may affect the industry and explore the NCUA's anticipated regulatory priorities, including oversight of AI and automation. From mortgage rates to commercial real estate refinancing opportunities, this Quick Hits episode delivers actionable insights for credit union leaders navigating an uncertain economic environment in the year ahead.What You Will Learn In This Episode:✅ How fed rate reductions and treasury rates will influence credit union loan pricing strategies and member borrowing costs throughout 2026✅ Why commercial lending growth may slow, while commercial real estate refinancing opportunities emerge from distressed properties✅ What regulatory priorities the NCUA will focus on, including delinquency management, loan loss reserves, stablecoins, and AI and automation policies✅ How the housing market, unemployment rate, and inflation rate interconnect to shape the overall economic outlook for credit unionsSubscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union's growth today.TIMESTAMPS: 00:00 2026 predictions episode discussing credit union industry forecasts and Fed rate and interest rates predictions, with expectations of rates dropping to 3-3.25% 01:42 Treasury rates and mortgage rates outlook, analyzing the impact on credit union lending and the housing market03:10 Inflation rate forecast at 2.5% with discussion of tariffs and unemployment rate effects on economic stability04:25 Commercial lending growth predictions and commercial real estate refinancing opportunities amid rising delinquency trends06:29 Discussion of the NCUA board, the rising delinquency numbers, and the abuse of AI10:15 Let's talk footballKEY TAKEAWAYS: ✅ Federal Reserve leadership changes will drive fed rate policy toward 3% by year-end, creating refinancing opportunities for loans originated in 2024 at higher rates✅ Rising delinquency rates will trigger stricter NCUA oversight on loan loss reserves and accounting practices, while AI and automation regulation emerges as a new compliance focus area✅ Commercial real estate distress will create a "greater fool" refinancing market where credit unions can acquire loans at significant discounts after original lenders absorb lossesABOUT THE GUEST:Jeff Lyons - LinkedInRESOURCES MENTIONED: Mark Ritter - WebsiteMark Ritter - LinkedInSEO KEYWORDS: Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Lending, Interest Rates, Inflation, Fed Rate, Treasury Rates, Commercial Lending, Delinquency, NCUA, AI And Automation, Mortgage Rates, Commercial Real Estate, Federal Reserve

What turns a good treasury professional into a great one?According to Daniel Perez, it's not just technical skill - it's transparency, trust, and never settling for the status quo.In this episode, he shares what he's learned over a 25-year journey through retail, insurance, and healthcare, revealing how to build a resilient career and a truly strategic treasury function.This week's guest is Daniel Perez, Senior Director of Treasury at Horizon Blue Cross Blue Shield of New Jersey. With a treasury career spanning over two decades and three major industries - retail, insurance, and healthcare - Daniel offers an insider's perspective on how to grow your treasury expertise, lead high-performing teams, and drive meaningful partnerships both inside and outside your organization.Whether you're early in your treasury career or preparing for a senior leadership role, this episode offers a roadmap for long-term success. Daniel shares hard-earned lessons on navigating industry changes, leading through transition, and transforming treasury into a strategic partner within the business.What We Cover in This Episode:Daniel's unconventional entry into treasury - and why he never looked backThe differences (and similarities) in treasury across retail, insurance, and healthcareHow to transition from contributor to decision-makerBuilding internal partnerships: why treasury is more than numbersWhy transparency is the foundation of long-term banking relationshipsThe role of systems and operations in future-proofing treasuryHow Daniel navigated leadership succession and team-building at HorizonThe growing importance of strategic thinking and systemic processesThoughts on AI, fraud prevention, and digital treasury transformationWhy every treasury pro should advocate for themselves — and how to do itYou can connect with Daniel Perez on LinkedIn.Other episodes mentioned:Keith Gaub - https://treasuryrecruitment.com/podcast/ep-389-from-banking-to-treasury-the-career-move-that-seemed-like-a-step-back-but-it-wasnt/Sandra Ramos Alves - https://treasuryrecruitment.com/podcast/ep-346-how-to-build-a-successful-treasury-team-with-sandra-ramos-alves/

In this explosive episode of The Alan Sanders Show, we dive deep into the brazen leftist disruption at Cities Church in St. Paul, Minnesota, where Don Lemon and anti-ICE activist Nekima Levy Armstrong led a mob that stormed a peaceful Sunday service over Pastor David Easterwood's ties to ICE. Families and kids were terrified as protesters chanted, obstructed worship, and shut it down, triggering a DOJ civil rights investigation under the FACE Act for federal violations protecting religious freedom. While ICE ramps up arrests of the worst criminal illegal aliens in Minnesota, including murderers, rapists, gang members like MS-13, and one with 24 convictions, sanctuary politicians like Gov. Walz and Mayor Frey release hundreds back into communities, endangering Americans. Plus, big wins against globalism: Commerce Secretary Howard Lutnick told the WEF in Davos that the age of globalization has failed the West and America asTrump's team is ending job offshoring and no longer bowing to it. And Energy Secretary Chris Wright is returning $13 billion in unobligated Green New Deal subsidies to the Treasury, scrapping wasteful wind, solar, EV, and battery handouts to refocus on reliable, affordable American energy. Don't miss this full breakdown of attacks on faith, law enforcement victories, and the end of failed globalist policies. America First is winning! Please take a moment to rate and review the show and then share the episode on social media. You can find me on Facebook, X, Instagram, GETTR, TRUTH Social, TikTok, YouTube and Rumble by searching for The Alan Sanders Show. And, consider becoming a sponsor of the show by visiting my Patreon page!

Stocks suffered big losses after President Donald Trump intensified his rhetoric on Greenland, Treasury yields spiked and the U.S. dollar declined as Trump's threat caused a flight from U.S. assets, More on the next Pints and Portolios on Saturday February 7th from 12 noon to 2pm with EP Wealth Advisors and Rob Black in Pleasant Hill with exact location given once you registerSee omnystudio.com/listener for privacy information.

In a stunningly corrupt move, Trump says the U.S. will ‘indefinitely control Venezuelan oil' and is funneling proceeds into a Qatari bank instead of the U.S. Treasury—blocking courts and creditors from suing and leaving him alone to decide who gets paid, with the first large sale going to a company linked to one of his mega-donors. Dina Doll reacts. Qualia Life: Take control of your cellular health today. Go to https://qualialife.com/MISSTRIAL and save 15% to experience the science of feeling younger. Visit https://meidasplus.com for more! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: ⁠https://www.meidastouch.com/tag/meidastouch-podcast⁠ Legal AF: ⁠https://www.meidastouch.com/tag/legal-af⁠ MissTrial: ⁠https://meidasnews.com/tag/miss-trial⁠ The PoliticsGirl Podcast: ⁠https://www.meidastouch.com/tag/the-politicsgirl-podcast⁠ Cult Conversations: The Influence Continuum with Dr. Steve Hassan: ⁠https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan⁠ The Weekend Show: ⁠https://www.meidastouch.com/tag/the-weekend-show⁠ Burn the Boats: ⁠https://www.meidastouch.com/tag/burn-the-boats⁠ Majority 54: ⁠https://www.meidastouch.com/tag/majority-54⁠ On Democracy with FP Wellman: ⁠https://www.meidastouch.com/tag/on-democracy-with-fpwellman⁠ Uncovered: ⁠https://www.meidastouch.com/tag/maga-uncovered⁠

Richard Berner is the former director of the Office of Financial Research and was a counselor of the Treasury Secretary. In Richard's first appearance on the show, he discusses a career that included public service and Wall Street, the fragility of global liquidity, the implications of fiscal dominance, the expansion of private credit, the 2023 SVB banking turmoil, and much more. Check out the transcript for this week's episode, now with links. Recorded on January 7th, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel  Timestamps 00:00:00 - Intro 00:01:57- Dick's Career 00:07:46 - Fragility of Global Liquidity 00:17:29 - Post-GFC Regulations 00:25:29 - Fiscal Dominance 00:36:23 - Private Credit 00:48:09 - Banking Turmoil of 2023 01:01:149 - Outro

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger Picture The EU/Germans are starting to see that the direction of the world has changed, they are now trapped in destroying the power infrastructure. Trump placed tariffs on EU, the EU thinks they can fight back, they already lost. The Fed is panicking, they keep repeating independence, in the end there will be no Fed. The [DS] is trying to keep their agenda on track and they are trying to maintain the old guard power structure. Trump is the process of dismantling the old guard power structure and the [DS] cannot stop it. Everything is at stake, the people must take back the power. Trump is leading the [DS] down the path to have an insurrection against the people of this country, trap set. Hold the line justice is coming, Trump is getting all the leverage.   Economy German Chancellor Merz Admits Shutting Down Nuclear Energy Production Was a “Severe Strategic Mistake” Germany has a severe electricity shortage and cost problem, and it's getting worse. German Chancellor Friedrich Merz recently made the admission that shutting down the German nuclear power reactors was a “severe strategic mistake.” “To have acceptable market prices for energy production again, we would have to permanently subsidize energy prices from the federal budget,” Merz said, adding: “We can't do this in the long run.” “So, we are now undertaking the most expensive energy transition in the entire world,” Merz said with pronounced frustration. “I know of no other country that makes things so expensive and difficult as Germany.” Keep in mind, Germany represents the largest contributing economy in the European Union.  The German industrial sector is the backbone of the European economic model. Source: theconservativetreehouse.com (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");    very successfully, at that! Nobody will touch this sacred piece of Land, especially since the National Security of the United States, and the World at large, is at stake. On top of everything else, Denmark, Norway, Sweden, France, Germany, The United Kingdom, The Netherlands, and Finland have journeyed to Greenland, for purposes unknown. This is a very dangerous situation for the Safety, Security, and Survival of our Planet. These Countries, who are playing this very dangerous game, have put a level of risk in play that is not tenable or sustainable. Therefore, it is imperative that, in order to protect Global Peace and Security, strong measures be taken so that this potentially perilous situation end quickly, and without question. Starting on February 1st, 2026, all of the above mentioned Countries (Denmark, Norway, Sweden, France, Germany, The United Kingdom, The Netherlands, and Finland), will be charged a 10% Tariff on any and all goods sent to the United States of America. On June 1st, 2026, the Tariff will be increased to 25%. This Tariff will be due and payable until such time as a Deal is reached for the Complete and Total purchase of Greenland. The United States has been trying to do this transaction for over 150 years. Many Presidents have tried, and for good reason, but Denmark has always refused. Now, because of The Golden Dome, and Modern Day Weapons Systems, both Offensive and Defensive, the need to ACQUIRE is especially important. Hundreds of Billions of Dollars are currently being spent on Security Programs having to do with “The Dome,” including for the possible protection of Canada, and this very brilliant, but highly complex system can only work at its maximum potential and efficiency, because of angles, metes, and bounds, if this Land is included in it. The United States of America is immediately open to negotiation with Denmark and/or any of these Countries that have put so much at risk, despite all that we have done for them, including maximum protection, over so many decades. Thank you for your attention to this matter! DONALD J. TRUMP PRESIDENT OF THE UNITED STATES OF AMERICA   https://twitter.com/disclosetv/status/2012565207730545125?s=20 https://twitter.com/disclosetv/status/2012634968556523924?s=20   https://twitter.com/KobeissiLetter/status/2012875286702899711?s=20  restrict US access to the EU market, potentially blocking US banks from EU procurement and targeting US tech giants. This trade weapon has never been used before. In short, yes—a potential trade war triggered by these actions would likely inflict more economic pain on the EU than the U.S., though both sides would suffer. The asymmetry stems from trade dependencies, market sizes, and broader leverage. Trump will counter the EU Raise the threatened tariffs beyond 25% (e.g., to 50-60% on key EU goods like autos, steel, or agriculture) to force concessions. He’s already signaled willingness to go higher if no Greenland deal materializes. Impose sanctions on specific EU sectors or companies, such as luxury goods (hurting France) or tech imports, while exempting allies who break ranks (e.g., if Italy or Eastern Europe hesitate on ACI). Broader Leverage: Link trade to NATO or security, threatening to reduce U.S. troop presence in Europe or cut funding unless EU backs off. He could also accelerate “Buy American” policies to boost domestic alternatives. Publicly dismiss the ACI as “weak” or “all talk” via X or statements, then push for bilateral deals with individual EU countries to divide the bloc (e.g., deals with the UK post-Brexit).  If ACI activates, pursue WTO challenges or rally non-EU allies (e.g., Canada, Japan) against EU measures, while advancing U.S. Arctic strategy independently.   https://twitter.com/FUDdaily/status/2012668421612183897?s=20  on stolen IP with fraudulent certification, and made with slave labour, while plundering the world’s oceans and polluting the planet like no other. Then as Europe deindustrialises and offshores its manufacturing to China (along with the knowledge economy that goes with it), it passively allows China to subvert its customs enforcement and tariff regime, and rolls out the red carpet for industrial scale data theft. Make no mistake. China IS at war with the West. This is an economic war that’s been going on for thirty years or more. But Western liberals would rather align with China because Orange man bad. That’s the mentality we’re dealing with here. For sure, China isn’t planning on invading the West, but they don’t need to – because we’re already handing over everything of value without a fight. https://twitter.com/OpenSourceZone/status/2012615143331352606?s=20   https://twitter.com/profstonge/status/2012140279965401446?s=20 U.S. Economy Best Served by Independent Federal Reserve, Fed's Kashkari Says Kashkari says that the Fed's policy committee is focused on its economic goals as it deals with a complex scenario of a cooling labor market and inflation The U.S. economy is best served by having an independent Federal Reserve that executes monetary-policy decisions based only on data and analysis, Minneapolis Fed President Neel Kashkari said in a virtual conversation with the Wisconsin Bankers Association. With a new Fed chair on the horizon, and increased pressure on the committee after it received subpoenas from the Justice Department late last week relating to Chair Jerome Powell's testimony about renovations of the central bank's headquarters in Washington, Kashkari said Wednesday that the Fed's policy committee is focused on its economic goals as it deals with a complex scenario of a cooling labor market and inflation that has remained above its 2% target. Source: wsj.com   Journal call me to ask whether or not such an offer was made? I would have very quickly told them, “NO,” and that would have been the end of the story. Also, one was led to believe that I offered Jamie Dimon the job of Secretary of the Treasury, but that would be one that he would be very interested in. The problem is, I have Scott Bessent doing a fantastic job, A SUPERSTAR — Why would I give it to Jamie? No such offer was made there, or even thought of, either. The Wall Street Journal ought to do better “fact checking,” or its already strained credibility will continue to DIVE. Thank you for your attention to this matter! Political/Rights      Order securing an EXCLUSIVE 4 hour Broadcast window, so this National Event stands above Commercial Postseason Games. No other Game or Team can violate this Time Slot!!!   On the field, they are rivals, but on the battlefield they are America's unstoppable Patriots, defending our Country with tremendous Strength and Heart. We must protect the Tradition, and the Players, who protect us. Please let this serve as Notice to ALL Television Networks, Stations, and Outlets. God Bless America, and God Bless our great Army-Navy Game!!! President Donald J. Trump https://twitter.com/DHSgov/status/2012590105265947114?s=20  enforcement are not only dangerous but also serious crimes. By putting law enforcement in danger and creating a conflagration of chaos, you are also risking your own life. https://twitter.com/CollinRugg/status/2012635139839520983?s=20  before protesters tried ripping him from the car to get him back on the street. “I just got stabbed by a crazie white commie leftist rioter today in Minnesota…” Lang said on X. “Plate carrier blocked it…” Horrific. https://twitter.com/JakeLang/status/2012691764251861167?s=20 https://twitter.com/nicksortor/status/2012583407557959872?s=20       of attention off the 18 Billion Dollar, Plus, FRAUD, that has taken place in the State! Don't worry, we're on it!  DOGE https://twitter.com/RedWave_Press/status/2012640651855233169?s=20   below) Leavitt: “[Trump] said, ‘Make sure you guys don't cut the tape, make sure the interview is out in full.” Tony Dokoupil: “Yeah, we're doing it, yeah.” Leavitt: “He said, ‘If it's not out in full, we'll sue your a$$ off.'”   https://twitter.com/VigilantFox/status/2012692074336829815?s=20 Thread   that reaffirm facts and separate facts from opinion. We want diversity of opinion. We don't want diversity of facts. That, I think, is one of the big tasks of social media. By the way, it will require some government regulatory constraints… Geopolitical https://twitter.com/KobeissiLetter/status/2012865218641277321?s=20   can therefore not, even symbolically, be passed on or further distributed,” they add.    very successfully, at that! Nobody will touch this sacred piece of Land, especially since the National Security of the United States, and the World at large, is at stake. On top of everything else, Denmark, Norway, Sweden, France, Germany, The United Kingdom, The Netherlands, and Finland have journeyed to Greenland, for purposes unknown. This is a very dangerous situation for the Safety, Security, and Survival of our Planet. These Countries, who are playing this very dangerous game, have put a level of risk in play that is not tenable or sustainable. Therefore, it is imperative that, in order to protect Global Peace and Security, strong measures be taken so that this potentially perilous situation end quickly, and without question. Starting on February 1st, 2026, all of the above mentioned Countries (Denmark, Norway, Sweden, France, Germany, The United Kingdom, The Netherlands, and Finland), will be charged a 10% Tariff on any and all goods sent to the United States of America. On June 1st, 2026, the Tariff will be increased to 25%. This Tariff will be due and payable until such time as a Deal is reached for the Complete and Total purchase of Greenland. The United States has been trying to do this transaction for over 150 years. Many Presidents have tried, and for good reason, but Denmark has always refused. Now, because of The Golden Dome, and Modern Day Weapons Systems, both Offensive and Defensive, the need to ACQUIRE is especially important. Hundreds of Billions of Dollars are currently being spent on Security Programs having to do with “The Dome,” including for the possible protection of Canada, and this very brilliant, but highly complex system can only work at its maximum potential and efficiency, because of angles, metes, and bounds, if this Land is included in it. The United States of America is immediately open to negotiation with Denmark and/or any of these Countries that have put so much at risk, despite all that we have done for them, including maximum protection, over so many decades. Thank you for your attention to this matter! DONALD J. TRUMP PRESIDENT OF THE UNITED STATES OF AMERICA https://twitter.com/ElectionWiz/status/2012627390527045862?s=20  no place in this context. Europeans will respond in a united and coordinated manner if they are confirmed. We will ensure respect for European sovereignty. It is in this spirit that I will speak with our European partner. https://twitter.com/disclosetv/status/2012879305936621840?s=20 President Trump Announces New Tariffs Against “EU Leadership” Nations Attempting to Interfere in North American Strategic Defense and Greenland Negotiations Trump is telling the EU to quit talking and start actively being responsible for their own security.  In the background Trump has bigger plans. Hans Mahncke has a solid take on the bigger picture: “The notion that America wants Greenland for its raw materials is either insanely ignorant or just engagement bait. Extracting anything in the Arctic is prohibitively expensive, and often physically impossible, with extreme cold, thick ice, equipment that won't function, and no roads, rail or ports to move anything once you have it. The real reason America needs Greenland is its immense geostrategic military value, which should be obvious to anyone with a functioning brain, especially anyone who has ever looked at a map from above, with the North Pole at the center. Sure, some tasks could be outsourced to NATO, but that alliance is on its last legs, burdened by too many countries with conflicting priorities, and has mainly served as a way for Europe to freeload on US security guarantees. Relying on it for American national security is reckless. It's far smarter to cut out the endless middlemen and take direct control.” (source) As also noted by Jim Ferguson: “Ursula von der Leyen just went on camera and declared that Greenland “belongs to Denmark and NATO” — directly rebuking President Trump. Let's translate that. This isn't about the Greenlandic people. This is about Brussels panicking because Trump is exposing the Arctic power game. Greenland controls: • the northern missile corridor • Arctic shipping lanes • and the gateway to North America That makes it one of the most important strategic territories on Earth. And Trump said the quiet part out loud: If the U.S. doesn't secure it, China or Russia will. Von der Leyen's response wasn't to protect the West, it was to protect EU control. She wrapped it in pretty words about “NATO unity” — but what she really meant was: Brussels gets a veto over American security. That's what this is about. Trump isn't breaking the alliance. he's breaking the illusion that unelected EU bureaucrats get to decide the future of the Arctic. Greenland is not a Brussels bargaining chip; it is the northern shield of the United States, and for the first time in decades, America has a president willing to say it. Ursula doesn't hate Trump because he's reckless, she hates him because he won't let Europe freeload on American security while selling the future to Beijing.” Source: theconservativetreehouse.com https://twitter.com/kadmitriev/status/2012621940402368862?s=20   War/Peace Iraq takes full control of air base after US withdrawal, defence ministry says  U.S. forces have withdrawn from Iraq’s Ain al-Asad Airbase, which housed U.S.-led forces in Western Iraq, and the Iraqi army has assumed full control, the Iraqi defence ministry said on Saturday. In 2024, Washington and Baghdad reached an understanding, opens new tab on plans for the withdrawal of U.S.-led coalition forces from Iraq and a move towards a bilateral security relationship. Source: reuters.com      As Chairman of the Board of Peace, I am backing a newly appointed Palestinian Technocratic Government, the National Committee for the Administration of Gaza, supported by the Board’s High Representative, to govern Gaza during its transition. These Palestinian leaders are unwaveringly committed to a PEACEFUL future!   With the support of Egypt, Turkey, and Qatar, we will secure a COMPREHENSIVE Demilitarization Agreement with Hamas, including the surrender of ALL weapons, and the dismantling of EVERY tunnel. Hamas must IMMEDIATELY honor its commitments, including the return of the final body to Israel, and proceed without delay to full Demilitarization. As I have said before, they can do this the easy way, or the hard way. The people of Gaza have suffered long enough. The time is NOW.   PEACE THROUGH STRENGTH. https://twitter.com/UnderSecE/status/2012860595121295443?s=20 the Union's project was unstoppable. Today, we are seeing that same spirit here: a relentless drive to push ahead with AI-scale growth and supply chain integration and investment. This is what Trump Time looks like. NONE of this would be possible without President Trump and Secretary Rubio's leadership! The work continues.   Trump Appoints Rubio, Witkoff, Kushner, And Blair To Gaza ‘Board Of Peace’ The White House announced on Jan. 16 the names of members appointed to the Gaza Board of Peace, which President Donald Trump created as part of phase two of a U.S.-backed plan to end the war in Gaza. Among the “founding executive board” members are U.S. Secretary of State Marco Rubio, presidential special envoy Steve Witkoff, Trump's son-in-law Jared Kushner, and former British Prime Minister Tony Blair. The board also includes private equity executive Marc Rowan, World Bank President Ajay Banga, and U.S. national security adviser Robert Gabriel, according to a White House statement. The board, to be chaired by Trump, will oversee the Palestinian technocratic committee—also known as the National Committee for the Administration of Gaza (NCAG)—which will be led by former Palestinian Authority official Ali Abdel Hamid Shaath. The White House said each of the members will be tasked with managing Gaza's “governance capacity-building, regional relations, reconstruction, investment attraction, large-scale funding, and capital mobilization,” which it said are vital to the enclave's stability and long-term success. The administration also named Aryeh Lightstone and Josh Gruenbaum as senior advisers to manage the board's daily strategy and operations, and appointed Nickolay Mladenov, a Bulgarian diplomat and former United Nations envoy to the Middle East, as the high representative for Gaza. Trump also tapped Maj. Gen. Jasper Jeffers to lead the International Stabilization Force, which will oversee security operations and the safe delivery of humanitarian aid and reconstruction materials to Gaza. The administration also announced a separate 11-member executive board, comprising some of the founding members, which will support both the technocratic committee and Mladenov's office. In announcing the board's formation on Jan. 15, Trump said the United States will work with Egypt, Turkey, and Qatar to secure an agreement that will require Hamas to surrender all weapons and dismantle its tunnel network. “Hamas must immediately honor its commitments, including the return of the final body to Israel, and proceed without delay to full Demilitarization,” the president said.  Source: zerohedge.com   https://twitter.com/TrumpWarRoom/status/2012227016418816311?s=20    https://twitter.com/RyanSaavedra/status/2012568999738163323?s=20  the slaughter of its people. His country is the worst place in the world to live because of failed leadership.” “The crime he has committed as the leader of a country is the complete destruction of the country and the use of violence on a scale that has never been seen before. To maintain the functioning of a country, even if that functioning is at the lowest possible level, a leader must focus on properly administering his country, as I do in the United States, rather than killing thousands of people to maintain control.” https://twitter.com/DonaldJTrumpJr/status/2012703384986382564?s=20   Medical/False Flags [DS] Agenda https://twitter.com/WarClandestine/status/2012657028783628755?s=20 Minnesota Governor Activates National Guard According to the Minnesota Dept of Public Safety, Governor Tim Walz has activated the national guard. However, in a statement on their X account the officials note, the guard “are not deployed to city streets at this time, but are ready to help support public safety, including protection of life, preservation of property and supporting the rights of all who assemble peacefully.” This is likely a proactive move to block President Trump from invoking the ‘insurrection act' to stop the chaos being fueled by the governor himself as well as professional leftists in the region. [SOURCE]  . The Minnesota national guard are being called to duty as a chaos management operation.  They are not being called up to stop the violence, merely facilitate the ongoing violent street protests.  The national noticing, along with the riots and violence, continues…. Source: theconservativetreehouse.com President Trump's Plan US Ends Aid to Somalia After Locals Torch and Loot Warehouse Filled with 76 Tons of US-Donated Food The United States ended taxpayer-funded food aid to Somalia after local officials torched and looted the stockpiles of food stored in a local warehouse. The US State Department released a statement after the warehouse was destroyed. https://twitter.com/USForeignAssist/status/2008980437591355644?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2008980437591355644%7Ctwgr%5E31d6d49d23e10c7438fba10706fbb66143259707%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F01%2Fus-ends-aid-somalia-after-locals-torch-loot%2F policy for waste, theft, and diversion of life-saving assistance. Source: thegatewaypundit.com DOJ Launches a CRIMINAL Investigation into Renee Good's Widow for Her Alleged Role in ICE Self-Defense Shooting: Report The widow of Renee Good is now reportedly in legal trouble following her actions in this month's ICE self-defense shooting in Minneapolis.  Department of Justice has launched a criminal investigation into Becca Good for allegedly impeding an ICE agent in the moments before her wife's death. The probe will focus on Becca's ties to far-left activist groups and her actions leading up to her wife's fatal shooting.  n. NBC News reported:   Source: thegatewaypundit.com https://twitter.com/FBIDirectorKash/status/2011987701113786455?s=20 Trump Reportedly Puts OVER 1,000 Active Duty Soldiers on Standby For Deployment to Minnesota After Threatening to Invoke Insurrection Act – White House Responds   As The Washington Post reported, the Trump Administration has ordered roughly 1,500 active-duty soldiers to be on standby for deployment to Minnesota following the massive anti-ICE riots over the past several days. These riots have reached a new and dangerous level following the ICE self-defense shooting of leftist protester Renee Good. Here are more details on the possible deployment from The Post: Source: thegatewaypundit.com https://twitter.com/amuse/status/2012873723376799902?s=20 https://twitter.com/TheStormRedux/status/2012887587396927854?s=20  of the United States. Foreign illegal aliens who broke into this country who then raped children, who committed human trafficking, sex trafficking, drug trafficking – protected, shielded, sheltered, coddled, defended at every level by the leadership in Minnesota… Willfully aiding and abetting this violence.” Stephen Miller continued on to explain that it's all to protect their “mass migration scheme” because the illegal aliens are “the heart of the Democrat party's political power.” Deport the criminals and the D party loses their voting base. To @realDonaldTrump , pull the trigger. The American people stand behind you! https://twitter.com/WarClandestine/status/2012272658780434598?s=20  . The Military would be assisting in the deportation operation, and serving as both a physical and psychological deterrent for would-be rioters. And given that the Dems are using illegals to steal elections, this operation is literally a matter of NATSEC, so the usage of US MIL to expedite the process is more than justified. Trump will strike when the time is right. https://twitter.com/Rasmussen_Poll/status/2012878860732228047?s=20   Presidency but, when you think of it, neither did Joe Biden. The whole thing was RIGGED. There must be a price to pay, and it has got to be a BIG ONE! PRESIDENT DONALD J. TRUMP   https://twitter.com/amuse/status/2012897466685763881?s=20   backing her challenge to Bill Cassidy and formalizing a long-simmering rift with RINO leadership in the Senate. The endorsement underscores Trump's push to remake the Senate with loyal America First fighters. The move could reshape multiple races, including in Texas, where Trump has signaled support for Ken Paxton as Sen. John Cornyn's campaign continues to falter. https://twitter.com/mattvanswol/status/2012586397442416715?s=20   https://twitter.com/AwakenedOutlaw/status/2011915642543525943?s=20   understand why he has to do what he’s doing, you will.  Everyone will. https://twitter.com/Pat_Stedman/status/2012152603468034264?s=20 The emotionally incontinent on this website were screaming all year that Trump had to arrest people Day 1, not understanding this was a siege, and the route to long term political dominance lay in not only attriting the enemy before battle but developing the moral high ground to fight in the first place. The left’s choices now are lose slowly and get picked off one by one or throw it all on one last dice roll while you still have some assets to deploy. They are the ones who are desperate not Trump. And they are about to give him the political capital to deploy the military against them and destroy them utterly and completely – not just their networks, but their entire narrative. By the time it’s all over

⚠️ NOTE: Haley is not on this episode — she's out galavanting — but Mary Lou brings in her MAGA friend Jules as a special guest, making for one of the most intense and revealing conversations we've had yet.This week on The Necessary Conversation, we break down a terrifying escalation of federal power, shocking allegations tied to the Epstein network, and Trump openly flirting with the end of elections and international war — all while ICE violence spirals out of control inside the United States.

Gold and silver just posted historic record highs, and Wall Street is still asleep.In this week's Schiff Gold Friday Market Wrap, Peter Schiff breaks down the biggest one-day dollar rally in gold history, silver's surge above $90 an ounce, and why recent volatility is consolidation at extreme highs — not a top.Peter explains why:Gold and silver are flashing early warnings of a coming U.S. dollar and Treasury bond crisisMining stocks remain dramatically undervalued despite exploding metal pricesInflation is accelerating again while the Fed talks about rate cutsRising Japanese bond yields threaten global bond marketsTrump-era policies are unintentionally pushing the world away from the dollar and into goldCPI headlines are misleading while producer inflation is surgingThis moment mirrors subprime in 2007 — an early signal before a much larger crisisGold is reacting first. Silver followed. Bonds and the dollar are next.Peter also explains why waiting for pullbacks is a mistake, why physical silver supplies may tighten sharply, and why this bull market is just getting started.⭐️ Sign up for Peter's most valuable insights at https://schiffsovereign.com

Jim and Chris discuss listener questions on Social Security survivor benefits and divorce rules, a listener PSA on spousal benefits, HSA contribution limits, and whether annuities make sense versus Treasury bonds. (8:45) A listener asks whether someone who is newly widowed can claim survivor Social Security now, keep working part time, and later switch to their own benefit, and also asks whether you still offer a “coffee and second opinion” or an a la carte Social Security review. (23:00) The guys field a question from someone with two ex-spouses asking if it's possible to combine their own Social Security with part of either (or both) ex-spouses' benefits. (33:30) George shares a PSA on how filing for Social Security online triggered a spousal-benefit eligibility notice for their spouse, and how the follow-up phone appointment worked without needing an in-person visit or marriage certificate. (45:15) Jim and Chris answer a question about 2026 HSA contribution limits for two spouses on an ACA family plan who each opened their own HSA and want to avoid overfunding. (54:45) One writer asks why they should consider annuities given fees and insurer risk when they can buy 20-year Treasury bonds, and adds a quick note about simplifying word choice from a prior email discussion. The post Social Security, HSA, and Annuities: Q&A #2603 appeared first on The Retirement and IRA Show.

Join the Friday Five Pack on The A.M. Update as we unpack the eerie radio silence on Iran amid escalating sanctions, economic freefall, and Treasury signals of regime desperation. We dive into President Trump's bold new health care plan promising affordability through transparency and accountability (but might just be rearranging deck chairs). Plus, White House press secretary Karoline Leavitt shuts down a loaded question in a teachable moment, hiring data hints at labor market recovery, and a call to abolish ICE stirs the pot. Ask or Tell Me Anything covers everything from young adult advice to why fraud goes unchallenged. Don't miss the sharp takes to close out the week.   The AM Update, Friday Five Pack, Iran sanctions, Trump health care plan, economic collapse Iran, Treasury Secretary Bessent, ICE controversy, media bias, employment hiring trends, listener Q&A, politics, current events, conservative commentary    

This week, protests continued against the Iranian government with the death count rising to more than 3,000, according to Iranian health officials. Jonathan Schanzer joins Mike, Russell, and Clarissa to discuss why this is such an important moment for the Iranian people and for peace in the Middle East. On Sunday, the Federal Reserve Chair Jerome Powell released a video responding to grand jury subpoenas regarding renovation costs for federal buildings. Charlie Sykes explains the backdrop of the DOJ's investigation and what this could mean for the economy. Then, Christine Emba stops by for a discussion about Grok, Elon Musk's AI chatbot, which has begun granting a large number of user requests to undress images posted by other people.  REFERENCED IN THE EPISODE: -Updates on X's policies regarding Grok's image generation. ABOUT THE GUESTS:  Jonathan Schanzer is senior vice president for research at Foundation for Defense of Democracies (FDD), and he is also on the leadership team of FDD's Center on Economic and Financial Power. He previously worked as a terrorism finance analyst at the US Department of the Treasury. Schanzer has appeared on CNN, Fox News, Al-Arabiya, and Al-Jazeera. Charles J. Sykes is a political commentator who hosted a conservative talk show in Wisconsin for 23 years. He was the former editor-in-chief of The Bulwark, and is currently an MSNBC contributor. Sykes has written for The New York Times, The Wall Street Journal, Politico, Salon, USA Today, National Review, The Weekly Standard, and has appeared on the Today Show, ABC, NBC, Fox News, CNN, PBS, and the BBC. Christine Emba is a senior fellow at the American Enterprise Institute, where her work focuses on gender and sexuality, feminism, masculinity, youth culture, and social norms. She is concurrently a contributing writer at The New York Times, and previously was a staff writer at The Atlantic, a columnist and editor at The Washington Post. She is the author of Rethinking Sex: A Provocation.  GO DEEPER WITH THE BULLETIN:  -Join the conversation at our Substack.  -Find us on YouTube.  -Rate and review the show in your podcast app of choice.  ABOUT THE BULLETIN:  The Bulletin is a twice-weekly politics and current events show from Christianity Today moderated by Clarissa Moll, with senior commentary from Russell Moore (Christianity Today's editor-at-large and columnist) and Mike Cosper (senior contributor). Each week, the show explores current events and breaking news and shares a Christian perspective on issues that are shaping our world. We also offer special one-on-one conversations with writers, artists, and thought leaders whose impact on the world brings important significance to a Christian worldview, like Bono, Sharon McMahon, Harrison Scott Key, Frank Bruni, and more.    The Bulletin listeners get 25% off CT. Go to https://orderct.com/THEBULLETIN to learn more.    “The Bulletin” is a production of Christianity Today  Producer: Clarissa Moll  Associate Producer: Alexa Burke  Editing and Mix: Kevin Morris Graphic Design: Rick Szuecs Music: Dan Phelps  Executive Producer: Erik Petrik  Senior Producer: Matt Stevens Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Last Trade: Marty Bent breaks down bitcoin's 2026 setup, Fed vs Treasury tension, and why the denominator is breaking.---

Is Silver the new meme stock? Are Small Caps finally ready to lead the pack? Join Mark Longo of The Options Insider and special guest Rich Excell from the University of Illinois (and the Stay Vigilant Substack) as they break down a historic week in the futures options markets. From parabolic moves in metals to a massive rotation within the equity space, the guys analyze the data you can't find anywhere else. Inside This Episode: The Great Equity Rotation: Why tech is taking a backseat as the Russell 2000 (RUT) explodes. Is this the "mean reversion" trade of the decade? Silver's Parabolic Run: Silver is up over 20% in a week. We look at the "price insensitive" buying and the wild 120/125 call spreads hitting the tape. Treasury Volatility Collapse: With Treasury price vol hitting anemic lows, Rich explains why he's looking at asymmetric put butterflies to hedge against a yield backup. Movers & Shakers: A 70/30 split to the green side at CME Group this week. We analyze the carnage in Nat Gas versus the "heater" in Platinum and Soybean Oil. Crypto Divergence: Why the tech use cases for Ethereum and Solana are starting to outpace Bitcoin in the eyes of the market. Technical Deep Dives: Skew Analysis: Why silver calls remain bid despite the massive price surge. RUT Options: Analyzing the heavy flow in the March 2500/2400 put spreads. CVOL Insights: Tracking the surge in Metals vol versus the "nothing burger" in Treasury yield vol. Connect with the Show: Follow Rich Excell: @ExcellRichard or his Substack, Stay Vigilant . Track the Data: CME Group QuikStrike/TWIFO Go Pro: TheOptionsInsider.com/Pro

Is Silver the new meme stock? Are Small Caps finally ready to lead the pack? Join Mark Longo of The Options Insider and special guest Rich Excell from the University of Illinois (and the Stay Vigilant Substack) as they break down a historic week in the futures options markets. From parabolic moves in metals to a massive rotation within the equity space, the guys analyze the data you can't find anywhere else. Inside This Episode: The Great Equity Rotation: Why tech is taking a backseat as the Russell 2000 (RUT) explodes. Is this the "mean reversion" trade of the decade? Silver's Parabolic Run: Silver is up over 20% in a week. We look at the "price insensitive" buying and the wild 120/125 call spreads hitting the tape. Treasury Volatility Collapse: With Treasury price vol hitting anemic lows, Rich explains why he's looking at asymmetric put butterflies to hedge against a yield backup. Movers & Shakers: A 70/30 split to the green side at CME Group this week. We analyze the carnage in Nat Gas versus the "heater" in Platinum and Soybean Oil. Crypto Divergence: Why the tech use cases for Ethereum and Solana are starting to outpace Bitcoin in the eyes of the market. Technical Deep Dives: Skew Analysis: Why silver calls remain bid despite the massive price surge. RUT Options: Analyzing the heavy flow in the March 2500/2400 put spreads. CVOL Insights: Tracking the surge in Metals vol versus the "nothing burger" in Treasury yield vol. Connect with the Show: Follow Rich Excell: @ExcellRichard or his Substack, Stay Vigilant . Track the Data: CME Group QuikStrike/TWIFO Go Pro: TheOptionsInsider.com/Pro

Join us for a timely and insightful conversation on the evolving landscape of anti-money laundering (AML) compliance in consumer financial services. In this episode of the Consumer Finance Monitor Podcast, Alan Kaplinsky, founder and senior counsel of Ballard Spahr's Consumer Financial Services Group, hosts Terence Grugan, co-chair of Ballard Spahr's AML team and a recognized authority in financial crimes compliance. Together, they deliver a comprehensive discussion on the latest regulatory developments, enforcement trends, and strategic implications for institutions across the industry. Episode Overview and Key Takeaways: 1.     Regulatory Streamlining: Explore how AML and Bank Secrecy Act (BSA) compliance requirements are being recalibrated, with a focus on reducing unnecessary burdens, modernizing supervisory practices, and emphasizing substance over form. 2.     Bank Examination Modernization: Learn how recent policy changes are promoting risk-based, targeted examinations for community banks, enabling institutions to allocate resources more effectively while maintaining compliance. 3.     Non-Bank Financial Institution Developments: Gain insights into emerging proposals from FinCEN and the Treasury aimed at gathering industry feedback and potentially scaling back AML obligations for non-bank entities such as casinos, money services businesses, and others. 4.     SAR Reporting Reforms: Hear about FinCEN's clarifications that are refining suspicious activity reporting (SAR) requirements, streamlining documentation, and reducing operational complexity for financial institutions. 5.     Evolving Crypto Regulation: Assess the regulatory retreat within the cryptocurrency sector, implications for AML risk, and anticipated impact of new regulatory initiatives including upcoming Stablecoin rules. 6.     Enforcement Trends: Review notable shifts in enforcement priorities, with fewer high-profile AML fines this year and an increased focus on targeting substantive violations rather than technical compliance failures. 7.     National Security and Economic Policy Alignment: Understand how AML and financial crime policies are aligning with broader national security priorities, including sanctions compliance, immigration enforcement, and efforts to disrupt international cartels. 8.     Future Outlook: Preview possible future developments, including greater centralization of AML enforcement within the Treasury Department and continuing modernization of compliance obligations. This episode equips financial institutions, compliance professionals, and industry leaders with expert perspectives on the regulatory, operational, and strategic changes transforming AML compliance. Consumer Finance Monitor is hosted by Alan Kaplinsky, Senior Counsel at Ballard Spahr, and the founder and former chair of the firm's Consumer Financial Services Group. We encourage listeners to subscribe to the podcast on their preferred platform for weekly insights into developments in the consumer finance industry.

And they think they have it in the story of Renee Good. But Stigall has a stack of stories today - including an internal warning for democrats from the "Third Way" pollsters who say - yet again - attacking ICE is barking up the wrong tree. Meanwhile, the rampant fraud in Minnesota is the real story and here to sound the alarm is the Majority Whip and MN-6 Rep, Tom Emmer who explains what's happening in his home state now that President Trump, the Treasury, and ICE are all camped out in his back yard. One of the more ridiculous moments in American history will no doubt be noted yesterday as the Supreme Court presented to entertain gender as something we can make up as we go. Not surprisingly, Justice What Is A Woman came to the table with her Orwellian language nonsense Stigall says we must fight with our last breath. And President Trump says he wants to cap credit card interest rates. Good idea? Can he also make housing prices fall without hurting current home owners? Tricky. Heritage economist E.J. Antoni takes a stab at threading that needle. - For more info visit the official website: https://chrisstigall.com Instagram: https://www.instagram.com/chrisstigallshow/ Twitter: https://twitter.com/ChrisStigall Facebook: https://www.facebook.com/chris.stigall/ Listen on Spotify: https://tinyurl.com/StigallPod Listen on Apple Podcasts: https://bit.ly/StigallShowSee omnystudio.com/listener for privacy information.

Everyone is clamouring to integrate AI into their businesses and personal lives, but our guest today is concerned that some AI companies aren't taking the necessary steps to protect personal data. Thankfully a privacy-centric option does exist, through Telegram, and today's company is helping to build it.Brittany Kaiser is the CEO of AlphaTON Capital (ATON), the world's leading technology public company scaling the Telegram super-app, with an addressable market of a billion plus monthly active users. Brittany is a globally recognized expert at the intersection of digital assets, public policy, and the capital markets. She's spent her career guiding companies and governments through technological and legislative changes. Brittany joins us today to walk us through her incredible career, demystify the Telegram ecosystem, and explain AlphaTON's myriad strategies for value creation.  Highlights:Brittany's career (2:26)The Telegram Ecosystem (4:23)What is TON? (9:21)AlphaTON's Growth Strategy (13:44)A Treasury and More (19:38)Brittany's Approach to Risk Management (20:38)Evolution of Privacy Centric AI (23:40)The AlphaTON Management Team (27:56)Links:Brittany's LinkedInAlphaTON LinkedInAlphaTON WebsiteICR LinkedInICR TwitterICR Website Feedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.

Chris Edmonds, President of Fixed Income and Data Services at ICE, joins Kevin McPartland of Coalition Greenwich to explore the future of market structure and data innovation. From prediction markets and sentiment analytics to the evolving role of ETFs in fixed income, Edmonds shares how technology and transparency are reshaping trading. He dives into ICE's advances in mortgage data, climate risk integration, and the modernization of CDS clearing. Plus, a look ahead at regulatory-driven changes in Treasury and repo markets and what they mean for liquidity and efficiency.

Juan Zarate, who helped create the current anti-money laundering regime 25 years ago while working at Treasury, assesses the system's faults and the Trump Administration's push for reforms. He outlines what a better system would look like and handicaps the odds of it happening 

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger PictureConspiracy no more, the D’s in Mass want to limit miles people can drive because of climate change. Biden/Obama forces electrical prices higher, Trump is now bringing the prices down and AI datacenters will be powered separately. The [CB] awakening has begun. Sometime you need to show the people the truth. The world is changing, Trump has shutdown the money supply around the world, the [DS] is in a deep panic and soon the people of Iran will take back their own country. As the [DS] criminal syndicate falls apart are they planning an armed civil war? Trump admin designates the Muslim Brotherhood a terrorist organization, other chapters to follow. In the end the Patriots have full control, once the chaos begins the partios will round them all up, it will be clean and swift. Economy https://twitter.com/libsoftiktok/status/2010831605430976627?s=20  Telecommunications, Utilities, & Energy and now heads to the Senate Ways and Means Committee (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");    major changes beginning this week to ensure that Americans don't “pick up the tab” for their POWER consumption, in the form of paying higher Utility bills. We are the “HOTTEST” Country in the World, and Number One in AI. Data Centers are key to that boom, and keeping Americans FREE and SECURE but, the big Technology Companies who build them must “pay their own way.” Thank you, and congratulations to Microsoft. More to come soon! President DJT Trump Will Request to Limit Credit Card Interest Rates to 10% for One Year to Combat the Scams of the Big Financial Companies   Trump Administration. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN! PRESIDENT DONALD J. TRUMP This initiative is a great for reversing the damage caused by leftist policies that prioritized uncontrolled spending and galloping inflation over the well-being of the working people. Under the Biden administration, credit card interest rates skyrocketed, reaching an average of 21.5 % in 2024, according to data from the Federal Reserve Bank, exacerbated by inflation that reached peaks of 9 % in 2022. This escalation was not an accident, but the direct result of Democratic policies that injected trillions in unnecessary stimuli, increasing the national debt and forcing the Fed to raise base rates to contain the crisis. Source:  gatewayhispanic.com  https://twitter.com/truflation/status/2011071380175860037?s=20   price data has been showing  https://twitter.com/julie_kelly2/status/2010924086981984640?s=20 https://twitter.com/DrJStrategy/status/2011032604313518251?s=20  a hoax. What Powell actually did •Powell chose to go public with a dramatic video statement saying DOJ subpoenas “threatened a criminal indictment” over his testimony on the Fed's multibillion‑dollar building renovations. •He explicitly framed the subpoenas as “pretexts” and cast them as retaliation for the Fed setting rates independently of the president, elevating a renovation/cost‑overrun inquiry into an existential attack on central bank independence. The framing of criminal indictment came from Powell! In what look liked a scripted response, all of the Fed acolytes on Wall St cried foul, they bought in hook line and sinker!!! What the U.S. Attorney is saying •The U.S. Attorney's Office for D.C. has stated they contacted the Fed “on multiple occasions” about cost overruns and Powell's congressional testimony, were ignored, and therefore resorted to formal legal process, which they stress “is not a threat.” •Jeanine Pirro has been explicit that “the word ‘indictment' has come out of Mr. Powell's mouth, no one else's,” and that “none of this would have happened if they had just responded to our outreach.” “Above the law” behaviour. •Powell now publicly insists “no one is above the law,” even as the record shows the Fed disregarded informal outreach and only engaged once grand jury subpoenas landed, which is the opposite of transparent cooperation. Recall Choke Point 2.0 and the unbanking of individuals. •By recasting a straightforward question of cost overruns and possible misstatements to Congress as an illegitimate “criminal indictment threat,” Powell is effectively demanding a special zone of immunity wrapped in the rhetoric of independence. Why central bankers are “charging the hill” •Former Fed chairs and global monetary grandees have rushed out statements condemning the probe as an attack on Fed independence, treating any prosecutorial look at a central banker as inherently out of bounds. The former Fed officials' statement is doing exactly what the “51 intel officials” letter did on the Hunter Biden laptop: using elite signatures to launder a political narrative into institutional dogma and declare scrutiny itself illegitimate. Powell and his allies are recasting a narrow DOJ inquiry into cost overruns and testimony accuracy as an existential assault on “independence,” and an all‑too‑willing media is once again treating the letter as revealed truth instead of asking hard questions This closes ranks around the idea that central banks sit on a higher plane than normal agencies, immune not only from political pressure on rates, which is legitimate, but also from standard legal and fiscal oversight, which is not. MSM and the death of the 4th estate •Much of legacy media has adopted Powell's framing almost verbatim: “unprecedented attack on independence,” “monetary policy under assault,” while relegating the core factual dispute,ignored outreach, cost overruns, accuracy of testimony, to secondary status. Powell and the central banking crowd are behaving in a way that is frankly odd: they stonewall basic oversight, scream “independence” the moment anyone reaches for legal tools, and act as though they stand above the law—while a compliant MSM gladly carries their narrative, proof the fourth estate has checked out. All of this does not meet the smell test. Is the Fed above the US Constitution? Why did Powell go public and choose the framing that he did? Why did MSM and so called objective pundits not do any objective analysis. Smells like elements of a Russia Russia Russia hoax strategy to me. https://twitter.com/MetaLawMan/status/2010816276508082343?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2010816276508082343%7Ctwgr%5E6585e9ff019ea8191354a3bf06c918cdfd10f00c%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fjoehoft.com%2Fcorrupt-fed-head-jerome-powell-added-trillions-in-unnecessary-us-debt%2F   service of a subpoena on the Fed is not a threat to indict him. Subpoenas are investigative tools. It's possible that the government separately advised Powell that he was a “target” of the investigation, but he didn't say that. 3. Nowhere in the statement does Powell say his testimony to Congress about the Fed construction project was truthful and accurate. https://twitter.com/USAttyPirro/status/2010886969518170452?s=20  Powell's mouth, no one else's. None of this would have happened if they had just responded to our outreach. This office makes decisions based on the merits, nothing more and nothing less. We agree with the chairman of the Federal Reserve that no one is above the law, and that is why we expect his full cooperation. Political/Rights https://twitter.com/DailyCaller/status/2011107269585616922?s=20 https://twitter.com/RapidResponse47/status/2011108530842108290?s=20 https://twitter.com/DHSgov/status/2010742739562901678?s=20   Procedure is same used in any location, such as hospital etc. https://twitter.com/nicksortor/status/2011067479603257616?s=20 https://twitter.com/CynicalPublius/status/2011085032606102012?s=20  American law and the accompanying reduction in crime. However, there are a few certain locations where law enforcement refuses to assist in law enforcement, and the local politicians and a base of Marxist-organized civilians actively oppose (sometimes violently) ICE’s lawful operations. It’s those latter locations, few in number but outsized in media reporting–all run by Democrats–that give a false impression as to how much Americans appreciate getting what they voted for. https://twitter.com/KCPayTreeIt/status/2010475982038147336?s=20 DOGE Geopolitical https://twitter.com/sentdefender/status/2010965644867485898?s=20   Tehran, according to the Wall Street Journal https://twitter.com/MarioNawfal/status/2011029585161568307?s=20 lowballing. In 2019 they said 230 died, Reuters reported 1,500. Iran International estimated 2,000+ last week based on hospital reports and morgue footage. Now the regime’s confirming it. But they’re framing it as “terrorists killed these people” not “we shot 2,000 protesters.” That’s the setup for mass trials and executions. 2,000 dead in 2 weeks. That’s 140+ per day. During a communications blackout. In a country claiming it has “total control.” Source: Reuters, Iranian official https://twitter.com/IranIntl_En/status/2011018647255322754?s=20   a coordinated blackout aimed not only at security control but at concealing the truth, reflected in internet cuts, crippled communications, media shutdowns, and the intimidation of journalists and witnesses. Publication was delayed until the evidence converged. The assessment is based on a multi-stage review of information from a source close to the Supreme National Security Council; two sources in the presidential office; accounts from several sources within the Islamic Revolutionary Guard Corps in Mashhad, Kermanshah and Isfahan; testimonies from eyewitnesses and families of those killed; field reports; data linked to medical centers; and information provided by doctors and nurses in multiple cities.  Trump administration designates 3 Muslim Brotherhood branches as terrorist organizations   The Trump administration labeled three Muslim Brotherhood branches as terrorist organizations on Tuesday, imposing sanctions on them and their members. The Lebanese, Jordanian and Egyptian chapters of the Muslim Brotherhood pose a risk to the United States and American interests, according to the Treasury and State departments. “These designations reflect the opening actions of an ongoing, sustained effort to thwart Muslim Brotherhood chapters' violence and destabilization wherever it occurs,” Secretary of State Marco Rubio said in a statement obtained by The Associated Press. “The United States will use all available tools to deprive these Muslim Brotherhood chapters of the resources to engage in or support terrorism.” The Jordanian and Egyptian branches were designated by the Treasury as specifically designated global terrorists for providing support to Hamas. The Lebanese branch was labeled a foreign terrorist organization, which is the most severe, meaning it is a criminal offense to provide material support to the group. Source;  wsbt.com  Rubio Designates Egyptian, Jordanian and Lebanese Chapters of Muslim Brotherhood as Foreign Terrorist Organizations Keep in mind the Muslim Brotherhood is the fabric on the umbrella of political Islam. Each faction represents and individual spline on the umbrella construct, but the Muslim Brotherhood overall is a political extremist system for various levels of authentic Islam. The regional chapters that really matter, the difficult ones to navigate will be in Qatar, Syria and especially the Turkish factions. These are more politically connected to the home government interests. Source: theconservativetreehouse.com 1237 Apr 22, 2018 1:31:31 AM EDT Q !xowAT4Z3VQ ID: 3e4934 No. 1141069  “The process of settlement is a ‘Civilization-Jihadist Process' with all the word means. The Ikhwan [MUSLIM BROTHERHOOD] must understand that their work in America is a kind of grand jihad in eliminating and destroying the Western civilization from within and ‘sabotaging' its miserable house by their hands and the hands of the believers…” https://clarionproject.org/muslim_brotherhood_explanatory_memorandum/ Q 3881 Q !!Hs1Jq13jV6 ID: b03e04 No.8238822 Feb 24 2020 20:36:43 (EST) EMHyS2xXkAA8JrB.png https://twitter.com/cain_nate/status/1231066589996318720 Listen carefully. Think: re: why [no] arrests (justice) yet? What if (almost) every critical position [sr] within the US GOV apparatus was infiltrated? WHAT MUST BE DONE FIRST? THE SWAMP RUNS DEEP. +Sleepers Backgrounds are important. Muslim Brotherhood List of ‘in the news now [names]‘ w/ known ties to Islam? THIS IS NOT ANOTHER 4-YEAR ELECTION. [assumptions correct – package well rec [known]] Q https://twitter.com/WhiteHouse/status/2010902536757162398?s=20 765 Feb 15, 2018 1:08:41 AM EST Q !UW.yye1fxo ID: 276796 No. 382161  WATCH THE WATER. Q War/Peace Medical/False Flags [DS] Agenda https://twitter.com/MrAndyNgo/status/2010746570853990773?s=20 https://twitter.com/EndWokeness/status/2010419447987937370?s=20 Antifa TikTok Agitator Urges Armed Leftist Militias to ‘Fight' ICE Agents Radical TikTok agitator Danesh Noshirvan has crossed a dangerous line. The Antifa-aligned mega influencer is now openly calling for organized, armed left-wing militias to confront ICE agents and federal law enforcement in America's largest cities. Danesh Noshirvan is directly linked to Scott Dworkin, founder of the Democratic Coalition Against Donald Trump. According to reports, Dworkin and even foreign interests bankroll Noshirvan's activities. Source: thegatewaypundit.com https://twitter.com/libsoftiktok/status/2010988104853659986?s=20 https://twitter.com/nicksortor/status/2010833162151346316?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2010833162151346316%7Ctwgr%5Ec535903544267d9392f4466181097498d09593a1%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F01%2Fnew-minnesota-ag-keith-ellison-minneapolis-mayor-jacob%2F   should be in JAIL. Treasury Secretary Scott Bessent Says There Are “DISTURBING TAPES” of Minnesota AG Keith Ellison Taking Money to Stop Investigations Into Somali Fraud   the U.S. Treasury Secretary confirmed that federal authorities are aggressively “following the money” amid explosive fraud investigations tied to Minnesota's sprawling Somali-linked financial networks. According to Bessent, the Treasury Department has launched multiple enforcement actions focused on suspicious financial flows between Minnesota residents and businesses and overseas destinations, including East Africa, as the federal government intensifies its immigration and fraud crackdown in the state. But the real bombshell dropped during an interview with Blaze: Scott Bessent:“It's hard to follow the money. There are evidently some disturbing tapes of AG Ellison in meetings with people who donated to him—calling for political favors to stop the investigations. We'll see. I don't want to get out ahead of the investigation. It's going to be very methodical. But I can guarantee you—when the bear trap snaps, we're going to get these folks. We're going to follow the money, whether it's here in Minneapolis and St. Paul or over in East Africa. There are tons of luxury properties and cars that have been bought over there.” WATCH: Source: thegatewaypundit.com    Countries who illegally entered the USA though Sleepy Joe Biden's HORRIBLE Open Border's Policy. Every place we go, crime comes down. In Chicago, despite a weak and incompetent Governor and Mayor fighting us all the way, a big improvement was made. Thousands of Criminals were removed! Minnesota Democrats love the unrest that anarchists and professional agitators are causing because it gets the spotlight off of the 19 Billion Dollars that was stolen by really bad and deranged people. FEAR NOT, GREAT PEOPLE OF MINNESOTA, THE DAY OF RECKONING & RETRIBUTION IS COMING! Minnesota’s total population as of July 1, 2024, is estimated at 5,793,151.  Approximately 8% of the state’s population is foreign-born, meaning about 463,452 individuals, while 92% (around 5,329,699) are native-born (U.S.-born). Minnesota is home to the largest Somali-American population in the United States, with people of Somali descent making up a notable ethnic group.  Recent estimates from the U.S. Census Bureau’s American Community Survey (ACS) for 2024 put the number of individuals of Somali descent in Minnesota at around 107,000 to 108,000, representing about 1.85% of the state’s total population.  (Note: Some sources provide slightly varying figures, such as 76,000 as a lower estimate, but the ACS data consistently points to the higher range. )Breakdown Within the Somali Population in MinnesotaThe Somali community in Minnesota includes both U.S.-born individuals and foreign-born immigrants or refugees. Here’s a detailed split based on nativity and citizenship status:  https://twitter.com/DataRepublican/status/1919002207896174765?s=20  or his NGOs appeared in the Journal of Democracy. It’s the flagship journal of the National Endowment for Democracy (NED), the same organization featured prominently in that widely circulated “Uniparty NGO” network diagrams below. NED is a U.S. government-funded outfit. It includes currently sitting members of Congress on its board… from both parties, not just former officials. Soros's involvement is deep. He has co-chaired NED conferences abroad and his Open Society NGOs regularly partner with NED operations, especially in countries undergoing “transitions” (read: regime change or soft power penetration). Together, Soros and US-backed NGOs have shaped funding pipelines, media narratives, and even foreign electoral strategies. So when people ask, “Why isn't Soros banned?” … they need to understand: he’s not an outsider. He’s part of our government. The Uniparty protects and partners with him, because he helps carry out a shared foreign policy vision… the same one that labels President Trump as a threat to democracy. NED members include:    Victoria Nuland – Director of the National Endowment for Democracy; Acting United States Deputy Secretary of State under Biden (served in both parties).   Karen Bass – Vice Chair of the National Endowment for Democracy; former U.S. Representative and current Mayor of Los Angeles (Democrat).    Todd Young – Honorary at the National Endowment for Democracy; U.S. Senator from Indiana (Republican).    Elise Stefanik – Director at the National Endowment for Democracy; U.S. Representative from New York and House GOP Conference Chair (Republican).   Mel Martinez – Director at the National Endowment for Democracy; former U.S. Senator from Florida (Republican).   Steve Biegun – Director at the National Endowment for Democracy; former U.S. Deputy Secretary of State (Republican).    Todd Young – Honorary at the National Endowment for Democracy; US Senator from Indiana (Republican). https://twitter.com/EricLDaugh/status/2011165232815882294?s=20 Just In: Bill and Hillary Clinton Refuse To Testify in Front of House Oversight Committee, Daring Chairman Comer To Hold Them in Contempt of Congress After months of dispute against House Oversight Committee Chairman James Comer, Bill and Hillary Clinton have today (13) REFUSED to testify in the House's Jeffrey Epstein investigation. This escalates the battle with Comer, Republican of Kentucky, and the former U.S. President and Secretary of State are effectively daring him to hold them in contempt of Congress. The New York Times reported: Source: thegatewaypundit.com President Trump's Plan Lefty DOJ Lawyers Rage-Quit After Harmeet Dhillon Blocks ICE Witch Hunt A group of lawyers in the Civil Rights Division of the U.S. Department of Justice (DOJ) have reportedly resigned after Assistant Attorney General for Civil Rights Harmeet Dhillon declined to investigate the Immigration and Customs Enforcement (ICE) officer involved in last week’s shooting in Minneapolis, Minnesota. The group had apparently pushed Dhillon to let a DOJ delegation fly to Minneapolis to investigate the January 7 shooting death of far-left agitator Renee Nicole Good, who was shot after she used her two-ton Honda Pilot as a weapon against the officer. Despite pressure from the lefty lawyers – described as “career prosecutors” – to initiate a witch hunt against the officer, Dhillon put a kibosh on their plans. They were apparently informed of the decision not to move forward with an investigation of the ICE agent last Friday.  After being told “no,” a group of “top leaders” in the criminal section of the Civil Rights Division “have left their jobs to register their frustration with the department.” Shock, horror. Sounds like the DOJ is well rid of this cabal, and these departures could be part of a trend of mass resignations amongst the old guard. This, of course, also saves Dhillon the trouble of having to draw up their pink slips.  Source: redstate.com  https://twitter.com/amuse/status/2010791586980933826?s=20   later. This is a system built for abuse by design https://twitter.com/CynicalPublius/status/2010886531838595278?s=20 https://twitter.com/ElectionWiz/status/2010777023673999531?s=20 https://twitter.com/USDOL/status/2010771852696617401?s=20 (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");

We all love winners. We love hearing about the big wins and the perfect track records. It feels good. It feels safe. It instills us with a sense of trust. But I've been in business long enough to know that virtually all individuals who are long-term winners have had profound moments of failure from which they learned invaluable lessons. Those are the people I really want to hear from. They have the kind of knowledge we all need as we navigate through life. It's called wisdom. Surgeons have a saying: “If you've never had a complication, you haven't done enough surgery.” In my surgeon days, I had a handful of complications. Let me tell you—they are no fun. You stay up at night replaying things in your mind, trying to figure out how you could have done things differently—how you could have had a better outcome. Even when unavoidable, those complications teach you something you'll never get from textbooks. It's been no different for me when it comes to business and investing. But I take comfort in knowing that even the greatest investors of all time had their moments of failure and rose from the ashes stronger and wiser. Warren Buffett. Ray Dalio. Every big winner has a story of failure. And while it may be cliché to say that we learn best from mistakes, I truly believe it. The good news is that those mistakes don't have to be our own. Learning from other people's mistakes can be just as effective. This week's episode of the Wealth Formula Podcast is with Russell Gray—a guy many of you already know from his podcasting and radio career. Russ lived through 2008 up close. He took a beating, and he talks openly about what went wrong. But that period also changed the way he sees the world—in a good way. It changed how he thinks about risk, leverage, and what actually matters when things stop going up. That mindset is a big reason he's been successful since then. It's a conversation worth your time. Transcript Disclaimer: This transcript was generated by AI and may not be 100% accurate. If you notice any errors or corrections, please email us at phil@wealthformula.com.  If you let the debt run, at some point you fall into a debt trap where the interest on the outstanding debt consumes all of the available discretionary income, and then you’re borrowing just to service the debt. Welcome everybody. This is Buck Joffrey with the Wealth Formula Podcast coming to you from Montecito, California. Before we begin today, I wanna remind you there’s website associated with this. Podcast called wealthformula.com. It’s where you will go if you would like to, uh, become more, uh, ingrained with the community, including getting on some of our lists such as the Accredit Investor Club. Of course, it is a new year and there are new deal flows coming through. Lots of opportunities that you won’t see anywhere else if you are a, an accredit investor, which means you. Make at least $200,000 per year for the last couple years with a reasonable expectation of doing so in the future. That’s 300,000 if you’re filing jointly or you have a million dollars of net worth outside of your personal residence. If you, uh, meet those criteria, you are an accredited investor. Congratulations. You don’t have to apply for anything, whatever, but you do need to go to wealthformula.com. Sign up for the Accredited Investor Club, get onboarded. And all you do at that point is look at deal flow, and if nothing else, you’ll learn something. So check it out. And who doesn’t want to be part of a club? Now let’s talk, uh, a little bit about today’s show. You know, um, we all love winners, right? We love hearing about big wins, the perfect track record. It feels good. It feels safe, gives us a sense of trust. But the thing is, I’ve been in business long enough to know that virtually all individuals who are, what you would call long-term winners, have had profound moments of failure from which they learned, um, invaluable lessons. So those are the people that I really like to hear from. You know, they have the kind of knowledge we all need that as we navigate through all of life, and it’s called wisdom. Um, surgeons, as you know, I’m an ex surgeon. Have a saying, if you’ve never had a complication, you haven’t done enough surgery. Uh, in my surgery days, I certainly, you know, had a handful of complications just like anyone else who did a lot of surgery. And, and lemme tell you, there, there are no fun, right? So you stay up at night replying things in your mind, trying to figure out how you could have done things differently, how you could have had a better outcome. And sometimes you realize that those mistakes were unavoidable, but. You still learn something from them. And in these cases, you always learn something that you’re not gonna get from the textbooks, just from reading something. And you know what, it’s been no different for me when it comes to business and, and investing, but I, I take comfort in the fact, uh, that even the greatest investors of all time had their moments of failure and arose from the ashes stronger and wiser. All you have to do is look up stories of Warren Buffet and Ray Dalio. And Ray Dalio basically lost everything at one point, uh, because he, you know, he had a macro prediction that went completely south. But listen, uh, the, the point I’m trying to make here is that every big winner, every big winner I know of as a story of failure. And while it may be cliche to say, you know what we learned best from our mistakes, I, I truly believe that. But the good news is that those mistakes don’t have to be our own, right? So you can learn from other people’s mistakes as well, and that can be just as effective. Uh, so this week’s episode of Well, formula Podcast is featuring a guy that you may know. His name is Russell Gray. Russ, uh, has been around a long time, uh, in the podcasting world. And radio. You know, he talks a lot. He’s talked many times to me at least about living through 2008. And you know what that was like, the beating he took and, you know, what went wrong? Uh, you know, it’s, it’s something that he talks about because, you know, he’s a successful guy and that period in time changed. You know, the way he sees the world, the way in which he behaves in that world. How he thinks about things like risk and leverage and you know, what actually matters when things stop going up. Uh, it’s a mindset thing and it’s important. Um, and we also obviously talk about other things as well, such as, uh, Russ’s current take on the economy. Uh, so anyway, it’s a, a good conversation and it’s one that you’re gonna wanna listen to, and we’ll have that for you right after these messages. 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Welcome back to Show Everyone. Today my guest on Wealth Formula podcast is Russell Gray. He’s a second generation financial strategist and, uh, you may know him from being a, the former co-host of the Real Estate Guy Radio Show, which is one of the longest running, uh, uh, radio shows of its time, uh, in the United States. He’s, he’s a founder of. Raising Capitalist project, which is an initiative focused on helping aspiring investors and entrepreneurs how to better understand how wealth is actually created and how uh, economic systems really work. Uh, he’s best known for his emphasis on real assets, cash flow, economic cycles, and preserving wealth and what he views as an increasingly fragile financial system. Welcome, Ross. How are you? Good buck, happy to be here. And, uh, proud of your success on your show. I remember way back at the beginning you were like, Hey, I wanna start a podcast. Yeah. Yep. You’ve done a great job. Yeah, it was an idea. I was like, here’s the idea. Start a podcast, build a community, all that kind of stuff. But it’s interesting. Uh, well, and let’s talk about what’s going on now. You’ve spent decades teaching people about, you know, real assets and cash flow. But lately your writings feel more focused on systems and and macro forces. So what’s changed? Has something finally become too big to ignore? Well, I think there’s two things you know personally, uh, most people who have heard of me or followed me know that 2008 wasn’t kind to me. I was in the mortgage business. I was very leveraged into real estate all over the place. Had my businesses for cash flow, had the real estate for equity growth. Believed that real estate was hyper resilient and gonna be the beneficiary of inflation. Didn’t understand the dependency on credit markets in both my business and my portfolio. And so that was a big mess, not doing, uh, a real SWOT analysis and understanding. And the third part of that, that was tough, is that I operated the business primarily on credit lines as well. So I had virtually no cash. And so when the credit markets seized up. Canceled my income, it canceled my credit lines and it evaporated my equity. And now all I had was negative cash flow on debt, on real estate. I couldn’t control. And so I looked at that and I said to myself, you know, I’m a pretty smart guy. I. Pride myself on paying attention. So obviously I’m not paying attention to the right thing. So I became obsessed with the macro, uh, picture and, and the financial system, which, you know, to me it’s, it’s the macro economy is what’s going on with, uh. Geopolitics and the energy and, you know, even policy, uh, that affects, uh, how well money can flow through the system. Both monetary policy from the Federal Reserve and fiscal policy from the government now today in the Trump administration trade policy. And so I began to pay attention to all those things, but from the standpoint of not how it was gonna affect the stock market, but how it was gonna affect the bond market and interest rates and the availability of credit, and how it was gonna affect Main Street. Directly and specifically now in terms of jobs and job creation are real wages. And so when I started really looking at all that, um, I, I, I realized that there were some things happening that were gonna be really good, and there were also some things that we needed to pay attention to. And these things move very slowly. So in 2010. I saw that coming outta the financial crisis, the Chinese were very upset with the United States about how much the Fed Balance sheet was expanding, and they were concerned about their very large investment in US dollar denominated. Bonds, and so they began creating bilateral trade agreements with Russia and many other countries to where they could begin this large process of de Dollarizing. Well, that was the first time I’d seen that movie, because it was the same thing that the Europeans did after they saw the Nixon default. Right? They began working on the Euro, which took ’em from 71, 72 when they started, maybe 74 when they started, but it took ’em till 99 to get it done. But you know, once they got it in place, over time, the Euro, the Euro has taken over 20% of global trade. You know, that’s market share from the US dollar. And so I saw this BrickX thing beginning to form. Uh, and then I saw the other thing on the macro that I thought was gonna be really good was in the jobs act, something you’ve benefited from as a syndicator, we. I wrote that report, new law breaks Wall Street Monopoly. And so, uh, even though I, I can’t tell you I was a big fan of Barack Obama, but he signed that legislation that happened on his watch. And I think it was fantastic because now it allowed Main Street syndicators, main Street Capital raisers to advertise for accredited investors and began to really, uh, level that playing field and open up Main Street, uh, to invest directly in Main Street. And so I met you in the syndication program that we put together with the real estate guys to coach real estate investors on how to become capital raisers to, to capitalize on that trend. So that’s, you know, kind of how I kind of became doing what I’m doing. And then when I decided, uh, just about 20 months ago to depart the real estate guys, I wanted to take some of the things that I originally set out to do when I first met Robert Helms way back in the day. And, you know, as relationships go, you know, he has his interest in the things that he wants to do, and I had my interest in things I came to do. And for a long time we were aligned well enough to continue to work together. But it got to a point where, for me, I, I wanted to go off in a different direction, and part of that was driven. By the, the death of my late wife. Uh, you had me on the show right after that happened to me, and I was going through this like, who am I? Why am I here? What am I supposed to do next? What do I really want to get done before I die? And so all of those things kind of informed my personal decisions to, to make a switch. And then of course, what’s going on in the macro. Um, what I saw with Trump 1.0, what I saw in the Biden administration and those policies, and then what I thought would happen in Trump 2.0. And I did a presentation on this at the best ever conference in March of 2025, right after he’d been inaugurated. And, and so, uh, that, that’s kind of has me where I feel like there’s some real opportunity coming. Uh, there’s also some things we need to be aware of on Main Street. Yeah. So you’re bullish on Main Street in general, but you’ve been pretty cautious about the broader financial system. So, uh, what are the things that you’re worried about? Well, I, I think if you understand the way the financial system works, uh, it has a shelf life and that. It’s because it’s, it’s a system that is, depends upon ever increasing debt. Um, people say, I wanna pay the debt off, but if they, if they really understood the system, at least the way I think I understand it, uh, and I’m not alone in this, so it’s not something I just figured out on my own. But, um, you know. I, I don’t want to sit here and pretend like I’m the world’s foremost expert, but the way I understand the way the system works is that it, it requires ever increasing debt, and if we were to pay the debt off, it would collapse the system. So I think you waste a lot of time and energy and from a policy perspective, trying to argue about doing that. And I think that’s why it’s never, ever, no matter what administration, what politician, what mix of congress, what. Pressure there is everywhere globally. The system, the central banking system, the way it works globally, is designed to create ever increasing debt. So the, the flip side of that then is to let the debt run. And if you let the debt run, at some point you fall into a debt trap where the interest on the outstanding debt consumes all of the available discretionary income. And then you’re borrowing just to service the debt. Yeah, that’s about $1 trillion right now, by the way. Which is. Which is, uh, about the, the, the defense, uh, budget. Well, and I think that the bigger thing is when you look at, at the interest on the debt and mandatory spending, there’s virtually no room left after that. So if you’ve got, you’ve got the mandatory spending and you’ve got, um, debt service, you, you have very little room. So it’s not. Feasible either for two reasons. One is there’s just not enough discretionary room to be able to cut expenses enough to, to ever manage the debt. Number two, as I previously mentioned, if we were ever to effectively try to pay down the debt in any appreciable way, it would crash the the system. So the, the way I look at it is it’s, it’s, it’s got to be replaced. There’s going to be a great reset. I think the World Economic Forum was trying to set that up for the world, and they had an agenda. I’m, I’m not particularly fond of. Um, there’s been talk about creating a central bank digital currency, which I think is what, you know, the Federal Reserve and the, what I all call the wizards, uh, or the powers of B would prefer. Uh, but I think if you care about privacy and, and, you know, individual sovereignty, uh, and, and just personal freedom, um, I have a lot of concerns about a central bank digital currency. Um, I think the popularity of Bitcoin, uh, if it was, you know, and who knows what the. True origins were, but let’s just take it at face value. I think a lot of the people, at least that were the early adopters before it had the big price run up, was just a way to escape, uh, the system before it failed. And so you’ve got that. And then you’ve got, again, as I mentioned, the bricks and this global effort to de dollarize, which was I think really kicked off. After the great financial crisis and the massive expansion of the Fed’s balance sheet. And then I think picked up a little steam when we froze Russian assets and people began to see that the US might use the dollar and the dollar system, uh, for political instead of being neutral. And I think that picked up some steam. And, and so there’s, there’s both a geopolitical drive to. Uh, come up with a new system. There is, I think we’re at the end of a shelf life that some type of a new system is gonna have to be, uh, created. Uh, and, and then you look at what Donald Trump is doing and what he’s espousing. You know, let’s get rid of income taxes. Let’s get back to pulling in, uh, revenue from tariffs the way the country was originally founded. Uh, he’s talked about eliminating the IRS and going with an ERS, an external revenue service. There’s people that think that he might beat. Wanting to try to get back on some form of sound money, you know, coming out of, Hey, let’s audit the Fed, let’s audit the gold. I mean, let’s audit the gold. And, um, so, you know, we, you, you never know what what’s really gonna happen, but, but I think what we have to pay attention to are the signs that the system is beginning to break down. And one of those signs that I pay a lot of attention to is monetary, metals, gold and silver. I make a distinction between precious metals, which would also include platinum and palladium, and of course they’re strategic metals, but I just focus on monetary metals, which would be gold and silver, and gold and silver. We’re telling you that people would prefer to be the, the, the safe ha haven asset is no longer us treasuries, but, um, but, but gold and central banks have been driving a lot of it. This isn’t the retail market driving it yet. It, it’s really central banks have been accumulating. And so those are the ultimate insiders when it comes to currency. And if the insiders in the currency markets are repositioning into gold, uh, I’d, I’d call that a clue. Yeah, absolutely. Um. Yeah. You recently commented on the public criticism, president Donald Trump made toward, uh, uh, Peter Schiff. What stood out to you about that exchange? Maybe give us some background people. Not everybody knows who Peter is and, and, uh. And all that. So, yeah. Well, I mean, as you know, I’ve known Peter for 12 or 13 years and, uh, I had read his father’s work way back in the day. He is a very famous in the tax protestor world as somebody who just believed that income taxes were unconstitutional. And he resisted that and ended up going to jail for, died in jail as a matter of fact. And so that was, uh, I think sad. Um. But, but to me it felt like a little bit of being a political prisoner, but be that as it may, that’s how I got to know Peter. And so Peter is a guy that comes from the Austrian School of Economics and he believes in sound money. He believes in gold. He does not like Bitcoin. I’ve sat on panels the last two years with Peter, uh, in between him and Larry Lepard. And you know, Larry is a, a former gold guy. He’s still not opposed to gold, but he’s a hardcore sound money guy. But he likes Bitcoin. Peter hates Bitcoin and they get into it, and I usually sit in between ’em and try to keep things calm. Well, you know, so Peter ended up going on Fox and Friends, uh, I think on whatever it was, Friday the eighth I think it was, or whatever, whatever day that was. And he, he criticized Donald Trump’s spending. And, um, budget deficits and said that it would lead to inflation, and that’s a hot button for Trump. And so Trump, yeah. Uh, responded to him, uh, I think like four 30 in the morning on Saturday morning and called Peter, uh, a. Jerk and a total loser. Well, actually I saw it before Peter did, and so I took a screenshot and I texted it to him. I said, Hey, have you seen this? You know, maybe I’ll press is good press. And I think to a degree, maybe it has been me from, I understand Peter ended up on Tucker Carlson’s show as a result of that. So, but I made a video right after that because I, you know, there was a time when. I’m friends with Peter Schiff and I’m friends with Robert Kiyosaki. As you know, I, we introduced you to both those guys and, and at one point they didn’t like each other very much. They got into it ’cause, you know, and, and so we introduced ’em to each other and found that they had more in common than they, they didn’t. And I, I think that that would be true. Not that I’m in a position to introduce Peter to, to Donald Trump, but I think the way Peter is looking at it is true. Um, but there’s context and I think the context is super important. Now I’ve been studying Donald Trump as a businessman way before he was a presidential candidate or a politician, you know, before he was a polarizing guy, a pariah for some people. He, he was just this real estate guy. He’s good at marketing, he’s a real estate guy, and as you know. We got to know his longtime attorney, George Ross. And so I’ve had a chance to have conversations about what it was like working with Donald Trump, the real estate guy, and when he became a politician, I asked George, is he a crazy man? Does he shoot from the hip? And you know, I got a lot of reassurances that he is a sober sound. Methodical, self-disciplined guy and, and I think he uses the eroticism to keep people off balance as a negotiating tactic. And he writes about that in the art of the deal. So the context that I think that people need to have, and I’m not here to defend Donald Trump, the man. I’m not here to defend Donald Trump, the politician, but I look at the policies and what I think he’s up to in the context of realizing that we have a system that is fundamentally flawed and has to be remodeled. So to use a real estate, uh, metaphor, it would be like we have a hotel building that is very tired. It’s at the end of its life, it’s got to be remodeled, and so you can’t. Completely shut it down because it’s an operating business, so it’s gotta operate during the remodel. And so you begin to, um, reposition things and. You, you, you’re not gonna run optimally, so you’re gonna run some deficits while you’re doing the remodel. You’re gonna go into debt because you got a lot of CapEx to do, and during that period of time, your debt and deficits are gonna be a problem. But real estate guys look at debt and deficits not as a permanent condition. I think Peter is saying, Hey, you’re just running up debt and deficits. Well, in the short term he is. Honestly, I don’t think Trump is concerned about that. I think he’s focused on getting this remodel done, and part of that remodel was showed up in the last jobs report, right? We lost jobs to a degree, but they were government jobs, and what we got was a lot of gains in private sector jobs. Scott descent, his treasury secretary, has come out and overtly said, we are an administration for Main Street, not for Wall Street. So if you’re going to de financialize this economy and turn it back into a productive economy. You’re going to have to have policies that are gonna stimulate Main Street, and that’s, that’s the, the, the new units that you’ve rehabbed in your hotel that you wanna move people into. At the same time, you gotta move them outta the old units, which is people making money, trading claims on wealth instead of producing real goods and services, which is the financial ice economy. So it’s not about banking, it’s not about stocks, it’s not about Wall Street. You know, you need the stock market to stay up. But really what you need to do is you need to create production. And, and, and I think that’s fundamental. I think he understands we’re never gonna pay the debt off by cutting. We’ve got to keep the system running until we can get to some form of sound money. We’re actually paying the debt off as realistic, and then we have to earn so much money that the debt relative to our earnings shrinks. So it’s not paying down the debt, it’s paying down the percentage of GDP by growing GDP. And the presentation I did at best ever in March of 2025 was me explaining why I thought. His policies, were going to allow him to increase velocity and increase wages by cutting taxes, interest regulation, transportation costs, and, and again, that was six weeks into administration. That was theory. I’m gonna do a follow up in March of this year to say, okay, looking back when I gave the speech a year ago, what’s transpired, but I can already tell you a lot of the stuff that I thought he would do. He’s done. And I think that’s muting some of the inflation that his spending and deficits to Peter’s point are causing. And that’s why when this last CPI report came out, it wasn’t as ugly as everybody thought it would be. And, and this is when you don’t look at, when you look at it in the mono, you just look at one thing and Peter’s very fixated on this quantity of money theory. Then the expectation is that you print a bunch of money, you run a bunch of deficits, you’re gonna get inflation. And it’s just a. Equals B or A leads to B. But there are other nuances and I think Trump is looking at more like a real estate developer, which makes sense. ’cause that’s his background. Yeah, yeah, absolutely. It’s, I mean, and then the other just point to, to make there is that there is probably, um, now inflation’s a tricky thing, right? Like on the one hand you don’t want this riding up, but on the other hand, it actually helps with that debt. You’re, you’re basically eroding the debt by letting inflation ride a little bit higher at the same time. And I think the Trump administration knows that it’s a tricky thing to balance, but the goal is to, you know, get GDP pumping at, you know, four or 5%, but it’s gotta be real production buck. And that’s the difference, right? The old way of dealing with the debt was inflation. And, and I think people think that he’s using the old formula, but I don’t think he is. Well, I think it’s, I think, I think it’s definitely geared towards increasing real GDP, but I think in the process there’s probably, they probably care less a little bit. Of inflation riding up a little bit in the meantime. ’cause you’re still gonna have, I think he thinks he can mute it. I think he can mute it with lower taxes, lower interest expense, lower energy costs. And the energy is the economy. And from day one, that was the first policy. He’s, he’s aggressively gone after lowering energy costs because that has a, a, a ripple through, it just affects every area of the economy. And then the regulations in, in the last cabinet meeting. It was reported, the way I understood it, that for every regulation his administration passes, they’ve eliminated 48. So it’s actually, he’s removing the friction. And I think the bigger thing is, and I, and I was on a panel at Limitless, uh, this last summer, and TaRL, Yarborough was moderating the panel, asked the panelists what we were looking at that maybe other people weren’t looking at that. Um. You know, is, is a signal about maybe the direction it was. We, I, I can’t remember. This was a prediction panel and what I said was trade policy because everybody in finance spends all their time looking at the flow of money and trying to get in front of the flow of money. And we’re so used to the money coming from the Fed or coming from the treasury. So they’re gonna come from monetary policy or fiscal policy. And that’s what Peter’s doing. He’s looking at the Fed and he is looking at the treasury. And so what I’m looking at is not just the tariff income, which is relatively minor, but I’m looking at the trade deals, and those are published at the White House and there’s a couple trillion dollars of money that’s FDI, foreign Direct Investments coming right into Main Street. And it’s gonna build infrastructure. It’s gonna build factories. It’s good. And they tell you where it’s gonna be because they, they came back with the opportunity zones, which I thought they would do. Makes sense. It’s the way he thinks. And then taking those opportunity zones, the governors can say where in their state they want that money to go. Well, people on Wall Street don’t think geography ’cause they operate in a commodity world that trades on global exchanges. But real estate people. Geography matters a lot. So if I’m a Main Street person, I live on Main Street and I’m looking for Main Street opportunities, I wanna look where that money is going to be flowing in geographically. And then there may be opportunities in real estate or small businesses in those economies, and you can see it coming, but nobody talks about it. So I created Main Street Capitalist as a show to begin to talk about it. I still do the investor mentoring club, which is, you know. A premium thing where we get together every month and we talk about these things. And the point is, is that if you understand, I think what he’s doing, then you can, you can begin to paddle into position. And I think, again, I am really bullish if he loses inflation. If he loses to inflation, he’s cooked. He knows it. I think that that even the suggestion that Peter made that he was losing to inflation is what flared him up. And so I wasn’t trying to necessarily defend. Peter and I wasn’t trying to defend Trump, I was just trying to reconcile that it is possible that both guys could be right at the same time from their perspective. And so I, you know, I, I had one guy take exception because he felt like I was defending Trump, but for the most part, I got positive feedback on the video. I, I, I, you saw it. So you tell me. Did it make sense? Yeah, yeah, yeah. Absolutely. So when you look at today’s environment, everything going on, where do you think investors are most vulnerable? Um, I, I think that if you are very dependent upon, um, healthy credit markets, we could have a disruption. And that’s what happened to me. If Trump loses the inflation battle even for a little while, little be reflected in interest rates. And the challenge is right now that he is asked the Fed to quote unquote lower rates, but the Fed actually doesn’t like. Set rates, what they do is they set a target and then they manipulate markets to achieve those rates. And if, if people believe the fed, there’s a little bit of front running. So what’ll happen is the Fed will come out and go, oh, we’re gonna lower rates, which means bond prices are gonna go up. So they’re like, that’s great, let’s go buy a bunch of bonds, which drives rates down. So the Fed just by talking. Begins to move the market and then they hope that later on the Fed will buy those bonds from them at a profit to push rates down. Does that make sense? So, so when the last two times the Fed has raised rates in their target, the 10 year has responded in the opposite direction. Which means that the market is like not buying in, and the Fed is gonna have to step in. And when the Fed steps in, they do it by printing money out out of thin air. Now, the concern about that is that when they print the money out of thin air. If they’re replacing bonds on their own balance sheet, that’s kind of a circle and it doesn’t leak out into the economy. If they’re buying new issuance from the the treasury, then that money is gonna work its way through the government to to to main street. Now, the Trump administration can prevent some of that by keeping the money in the Treasury, for example, uh, Trump 1.0 left. The Biden administration with, I think over a trillion dollars in, in the treasury checking account, and Janet Yellen put that into the economy right away during the lockdowns, which immediately created extreme inflation because you muted production at the same time you goose. Uh. Purchasing power, you know? So anybody with like three ounces of economic understanding could have told you that that inflation was gonna come, it was gonna come hard, it was gonna come fast, and it was gonna be stickier than than you thought. ’cause once you let that money out in the economy, it’s out. It’s out and the only way to mute it is either to suck it back, which is very, very difficult, or to outproduce it, and it’s very hard to produce anything when everything’s in lockdown. So I think that, you know, those days are behind us. I think the policies that we’re embracing now are more. Pro productivity. And I think that even if the Fed does have to step in, as long as that money doesn’t leak out into the economy, and part of it is the treasury being able to throttle some of that, and the money that does go into the economy doesn’t go into stimulus, but goes into CapEx and infrastructure, that’ll actually, uh, create. Production. Then I think that, you know, this, this game plan that I think they’re trying to execute has a chance. And so I, I’m, I’m watching for it. And of course, to answer your question, what do we have to worry about that it doesn’t work? Right? If it doesn’t work, then inflation will show up. Interest rates will rise, credit markets will crash, it will take real estate values with it. And the hedge is really gonna be, what I’ve always talked about is gold. I started talking back in 2018 when we were the zero bound with interest rates. Hey, there’s only one way interest rates can go and that’s up. And if they go up fast, then that’s gonna crash bonds. So it would be smart, and that’s gonna take real estate equity with it. So it’d be smart when you have real estate equity and low rates to pull some of that equity out and move it into gold. And I called that my precious equity strategy. If I have a video I did at the Vancouver Resource Investment Conference in January of 2022, explaining that when you could still really execute on that, and I’m not saying that you couldn’t do it today, but it’s harder, but the people who did it back then, I mean, you know, they’ve, they’ve seen their gold almost triple. And at the same time, they were able to lock in interest rates that are, you know, a half what they are today. So when you see those mega trends and you can begin, and that’s the stuff I didn’t know how to do in 2006, 2007. I didn’t understand any of this stuff. The, the, you know, losing everything in 2008 forced me to become a hardcore student and then try to apply that to Main Street strategy. And so I think gold and real estate and debt, they all work really well together depending on where you are in the cycle. Do you think that Main Street investors may actually have some advantages in periods like this? Yes, a ton because I think what’s gonna happen is if we have a, um, a, a, a restructure of the financial system into something more responsible, which I think is either gonna be forced upon us or it’s gonna be done by design, and I hope we do it by design. But when that happens, then the days of just buying low and selling high and riding the inflation wave that goes away. And so now it’s gonna be very, very important to understand how to invest for. Productivity. So I call it, you know, buy low sell high trading as an acronym, B-L-S-H-T you. You can sound it out for yourself phonetically. And then the other one is poo, which is productivity of others. And I think that if people focus on investing in the productivity of others, which is what Main street investors, especially real estate investors, focus on, I think cash flow, real profits on small businesses, not speculating on. Uh, exit price or a company that’s gonna take a company public, everybody trying to tap into this giant flood of money that gets pre created from thin air in the banking system and in Wall Street. If, if, if people on Main Street will just start investing. Kind of what Kenny McElroy was doing going through 2008, just focusing on sound assets and good markets with good fundamentals. That cash flow and, and are run by good managers, whether it’s a business, an apartment building, a mobile home park, a self storage, residential assisted living doesn’t really matter. Invest in real businesses that produce real profits where you’re not overpaying for that production of income and especially where there’s some upside. Not to flipping out of the stock, but to actually growing the market share and growing the income. That’s what investing really should be. Wall Street has perverted it into just placing bets and riding a wave and trying to figure out where the money is gonna flow from the Treasury or for from Fed stimulus. And I think Main Street is gonna pick up on the new game sooner. And the good news is if you get good at playing that game, even if the system stays the same, you’re probably gonna do better off anyway. When you talk about buying, buying or investing into productive businesses, I mean, what, what’s the difference in your mind between investing in a private business versus investing in a, you know, a publicly traded business that’s run off, you know, dividends? Yeah, so I, I, I think that it could be okay if the dividend yield makes sense, but anytime you have a publicly traded security, it’s a highly liquid market, which means it’s gonna be volatile and the stocks become chips in the casinos where professional traders are just gambling all day long. And some of that gambling can create an impact on the stock, and it doesn’t matter to you if you’ve only bought it for production of income. Um. And so, uh, you know, I, I don’t think it’s bad. I’ve, you know, Peter’s always been an advocate of, uh, dividend paying stocks, and I think if you’re gonna be in the stock market, that’s what you want to do. I think the opportunity in a private placement in a small business is the opportunity not to have to pay the high multiples because it’s not a perfect market. It’s, it’s the same reason there’s so much more opportunity in real estate. If real estate could trade on an electronic exchange where. You know, millions of buyers could find it, and you could have perfect price discovery. It’s very difficult to find a deal, right? It’s very difficult. But we, if you buy a private business, you know there’s gonna be considerations. You, you deal with a, a owner. Who cares about his customers, who cares about his team, maybe would be willing to carry back the way you would if you were buying a, a, a piece of property from somebody that cares about their neighbors or whatever. I mean, there’s, there’s, there’s a lot more humanity in it. There’s a lot more room for negotiation in it. And a lot of times there’s a lot more room to have control. So, you know, one of the adages with real estate that real estate investors like is, I’m gonna buy an asset, one that I understand, two that I can control. And so when you buy a stock, like a dividend paying stock, you, you might understand the business, you may not understand completely the. Uh, market dynamics that drive the stock price. But as long as the dividends are there, that can be okay, but you don’t have any control. When you actually go buy a small business, you have a, a degree of control. Now, if you’re a passive investor buying into a syndication, then you still have a little bit more, um. Relationship, you have a little bit more insight. You maybe have a voice. You may know the people that are making the decision and running the company personally. So it’s the same thing. You know, you Buck is a syndicator. When you go do a deal, your investors know you. They have a personal relationship with you. Go buy stuff in the stock market and mutual fund managers and investor. You don’t have a relationship with that fund manager and I think that’s worth something if you have a voice right. So we’ve, we’re talking a little bit about credit markets, um, volatility, you know, interest rates. Are they gonna go down like, you know, Donald Trump would like to see, and you know, we’ve got a new fed share coming, all that kind of thing. How should investors be thinking about leverage and risk right now? I, I think the adage with real estate, uh, I mean, sorry, with leverage is always the same, is, um, you know, manage cash flow. I, if, if you use leverage to speculate, that could be a real problem. And whether you did it. Do it for real estate like I did by having very thin or negative cash flow and making that up someplace else and believing that somehow, you know, rents or appreciation are gonna do it. Or buying a non-income producing asset with borrowed funds hoping it’s gonna go higher. I think that would be dangerous, but I think if you fundamentally use debt as a tool. Based on cash flows and you use conservative cash flows, you know, so the debt service coverage ratio, you know, if you have $10,000 a month going out in debt service, make sure you have at least, you know, $12,000 a month coming in on income or above. Then that’s how you begin to build resiliency into your portfolio. And the other thing is don’t borrow long to invest short, right? So your duration matters a lot. We were talking about this before we hit the record button, and I think what happens is people. Uh, make a mistake when they try to operate like a bank. ’cause banks lend short and invest long. And the only reason they get away with it is because they have the Federal Reserve Bank system backstopping them. But you don’t have that as an individual, so you better to do the opposite. Um, if you can match the durations, that’s perfect, right? ’cause then you know what your interest expense is for the, for the duration of the investment. And once you lock in the spread, then you just have the counterparty risk of the, whoever is responsible for creating that income stream that’s gonna service the debt you use to control the asset. And then it just comes down to underwriting and then recourse. And if you feel comfortable with the underwriting and you feel comfortable with the recourse, and you’ve got spread and you’ve locked in a, a duration. Um, that, that is compatible, then that can be a, a, a fairly safe way to use debt. And if interest rates work against you, then you’re okay. And if interest rates work for you, you might be able to refinance your debt and actually increase your spread, but you don’t need it to happen to be successful. Let’s talk a little bit more about what you’re doing right now. So in the past year, you’ve launched, um, several new initiatives. You had masterminds via platforms. Tell us a little bit about this and, and a little bit more what, what you’re trying to accomplish. Well, you know, after losing my wife, um, you, you go through this. Period of time of like figuring out, okay, life is short. What do I want to get done before I left die myself. And so, um, after thinking about that, I went back to really what I came to do when I first met Robert Helms and got involved in the real estate guys. And so I just kinda went back to home base and. Then the other thing is now I’ve got 17 grandchildren, and so I’m thinking a lot less like a father, more like a, a grandfather, a founding father. And, um, and so I’m thinking about what the world is gonna be like in 40, 50, 60 years, and what can I do to plant a seed that will make that world better for my grandchildren? And so I, I did a couple things. One is, um, after I left the real estate guys, we were going through a merger with Ken McElroy, George Gammon and Jason Hartman to create, um, a mastermind group, which we did. And I, I was CEO of that for the. The year during the merger. And that took up some time. And the second thing I decided to do, uh, ironically, it was after a conversation I had with Charlie Kirk. I had a conversation with Charlie Kirk. I said, Hey, I’ve got this idea to help, uh, K through 12 get involved in, in capitalism by starting businesses or working with businesses. Their parents start, and I explained to him the model. He goes, I love it. I want to help you. And so that encouraged me. And then I had a follow up meeting in January of 20. 24 with Mark Victor Hansen, and he really encouraged me. And so with the strength of those two endorsements, I go, you know, I’m gonna do this. And so, uh, I left the real estate guys in, um. March, late March of 2024, and in the summer of 2024, I, I launched the Raising Capitalists Foundation, and people can learn more about that by going to raising capitalists plural.org. And I, I literally launched it at Freedom Fest on July 13th, 2024 and five minutes before I took the stage, Donald Trump got shot. Always remember where I was and how distracting it was, but I did record that presentation and it’s on the website, and so it explains the model. But in, in short, it’s pairing, um, or it’s, it’s putting parents who are in what Kiyosaki, uh, rich Dad would call the E-Class employees. And, uh. Put them under a mentorship program with experienced entrepreneurs and investors to help them start a business, a side hustle. They need the money and they need a mentor. And so then they, um, it can create a situation where their children can come to work for them in the business. And today, information Society, you know, there’s a lot of things kids can do where they learn real life skills, um, working with their parents. So that’s what the Raising Capitalist Foundation is all about. Then I launched two shows. Uh, in 2025, uh, one is I literally just launched like a week ago, and that’s. That Donald Trump video was really the first one that I put out, the Donald Trump versus Peter Schiff video on YouTube. I haven’t even started the podcast side of it. Um, and in on September 27th, uh, on pray.com, I started, uh, another show that, that one’s called the Main Street Capitalist. So if you go to YouTube and look at the Main Street capitalist, you’ll, you can find me there. And then the other one I created was the Christian capitalist. And I kind of went back to, you know, my, my core roots of realizing when I started looking at. Where the country was at, John Adams said that, um. Our Constitution was designed for a moral and religious people and is really wholly inadequate for any other, and so I thought, you know what? I’m I, I’m going to do that because my experience as a, as a Christian businessman is that I find that sometimes the stuff I get in church is more consumer oriented, and it doesn’t, it’s more employee oriented. I, I don’t. And, and then the other part of that is I created a, a ministry called Fellowship, a Christian capitalist, which is really about helping people put purpose into their business and then, you know, express their faith. Love your neighbor. Through their business. And so I’ve got all these different initiatives going and then I created the Main Street Media Network because I wanting to reach youth. I hired a YouTube coach and I said, look, I want to create content to encourage youth. He goes, that’s great. You can’t do it. You’re too old, he said, so what you need to do is find young people you can mentor and teach them the things that you’ve learned and let them teach it in their own words and they’ll reach their generation better than you. So with Main Street Media Network, I’m I, I’ve got. Two guys that I’m apprenticing right now, but I’m gonna be adding a lot more. Um, one, one young man is 20 years old, the other one is 26 years old. And, uh, I just came back from the Turning Point USA event where we had a broadcast booth and they were conducting interviews and I did the New Orleans Investment Conference. And so these guys are sitting down with Peter Schiff, Robert Kiyosaki, Mike Maloney, Ken McElroy, you know, you, you know what that did for you, buck with your show. You know, you, you met all these people through us and then you. We’re able to build upon that and create a very credible show. So I’m doing that for these guys that are in their twenties with the idea that they will be able to reach a generation of people. Uh, I call it putting Boomer Wisdom in Gen Z mounts. I mean, they get to process it and it gets to be their own. And I’m helping them build financial podcasts that actually make the money and is the foundation of, in this case, they’re both capital raisers of their capital raising business. I got all these different things going, but I’m doing it through leaders, so I’m not trying to do all things myself. Yeah, yeah. Um, but I’m building out an ecosystem to accomplish all these goals and so far so good. It’s a lot. Sounds working like a young man, man, man. I’ll tell you that. I know, I know. Wow. I I thought you were gonna slow down after you. No, I’ve actually, I put my, I put, I put my foot on the gas. I, I’ve probably never worked, uh, harder. Um, but I, I think I’m working smart, you know, so I’m hiring coaches and I’m bringing in, um, leaders and going through all that EOS and organizing to scale stuff. Sounds good. Well, always a pleasure, Russ. Um, make sure not to be a stranger to have you on again, um, you know, in a few months and figure out where you’re going with all this stuff. All the new things that you’ve accomplished, but it’s, uh, it’s great to see you. Well, happy to be here, proud of you. Uh, keep up the good work and keep educating people. Thank you. You make a lot of money, but are still worried about retirement. Maybe you didn’t start earning until your thirties. Now you’re trying to catch up. Meanwhile, you’ve got a mortgage, a private school to pay for, and you feel like you’re getting further and further behind. Now, good news, if you need to catch up on retirement, check out a program put out by some of the oldest and most prestigious life insurance companies in the world. It’s called Wealth Accelerator, and it can help you amplify your returns quickly, protect your money from creditors, and provide financial protection to your family if something happens to you. The concepts here are used by some of the wealthiest families in the world, and there’s no reason why they can’t be used by you. Check it out for yourself by going to wealthformulabanking.com. Welcome back to the show everyone. Hope you enjoyed it. As always, Russ, uh, is, uh, you know, he’s, he’s got a lot of wisdom. He is the guy you really wanna listen to. And I would encourage you to follow his work anyway. Uh, just pivoting back, you know, to where this economy is and all that. I think for me personally, it’s about allocating capital in a market that is a, uh, is certainly losing value in its dollars. And, um, and I think that we’re gonna continue to see that. Speaking of that, make sure if you haven’t, as I mentioned before, sign up for the Accredited Investor Club. Go to wealthformula.com, go to investor club, as we have plenty of those types of things that are hedging against inflation, um, saving taxes in terms of tax mitigation strategies, that kind of thing. Check it out. That’s it for me This week on Well Formula Podcast. This is Buck Joffrey signing off. If you wanna learn more, you can now get free access to our in-depth personal finance course featuring industry leaders like Tom Wheel Wright and Ken McElroy. Visit wealthformularoadmap.com.

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger PictureThe EU economy is imploding, Germany the power manufacturing company is falling apart and now companies are moving to Hungary. Trump built the tariff system to compete the [CB]. Trump has now started the narrative of why the Fed should not be controlling the US economy. DOJ has begun a criminal investigation, soon the Fed will be restructured into the Treasury. The [DS] is panicking, they are losing the chess match and they have no more move except one. Trump has now set the stage and the [DS] will follow the path to their destruction. The money supply is in the process of being shutdown, the [DS] is struggling, the countries they controlled are struggling. Soon Trump will have all the leverage and the enemy will be at it’s weakest point. Game Over. Economy (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); https://twitter.com/WallStreetMav/status/2010625048856424506?s=20   countries. In the year 2023, Germany lost 123,000 manufacturing jobs. The trend has continued in 2024 and 2025. Lousy energy policy has consequences. https://twitter.com/RealPNavarro/status/2010480063091720266?s=20 https://twitter.com/RealPNavarro/status/2010480094662332678?s=20   factory jobs appear. https://twitter.com/Rasmussen_Poll/status/2010701202971935191?s=20 JUST IN: RINO Tillis Threatens to Block Fed Nominations Over Powell Criminal Investigation Federal investigators opened a criminal investigation into Fed Chairman Jerome Powell. Powell is under fire for the cost of renovating the Fed's DC headquarters. The cost ballooned from $1.9 billion to $2.5 billion. RINO Senator Thom Tillis is threatening to block any future Fed nominations over the Justice Department's federal criminal investigation into Fed Chair Jerome Powell. Source: thegatewaypundit.com FED Chairman Jerome Powell Attempts to Evade Legal Accountability by Hiding Behind His Office Regardless of how you feel about the Federal Reserve Board, I think we would all agree the construct of an autonomous central bank is outside the boundaries of our constitutional framework.  Factually, the Sea Island financial group set up the Federal Reserve as a system of control over the U.S. economy that was completely unnecessary.  . Last year facing ridiculous cost overruns, congress questioned Powell over the insane spending proposal by Powell for a new office building.  Chairman Powell characterized the construction changes that escalated the cost of the project from $1.9 billion to $2.5 billion as ‘minor modifications.'  That's $2.5 billions of taxpayer money. .[Transcript] – “Good evening. On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings. I have deep respect for the rule of law and for accountability in our democracy. No one—certainly not the chair of the Federal Reserve—is above the law. But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure. This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress's oversight role; the Fed through testimony and other public disclosures made every effort to keep Congress informed about the renovation project. Those are pretexts. The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President. This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation. I have served at the Federal Reserve under four administrations, Republicans and Democrats alike. In every case, I have carried out my duties without political fear or favor, focused solely on our mandate of price stability and maximum employment. Public service sometimes requires standing firm in the face of threats. I will continue to do the job the Senate confirmed me to do, with integrity and a commitment to serving the American people. Thank you.” Source:theconservativetreehouse.com Powell says criminal investigation by Trump's Justice Department threatens Fed's independence https://twitter.com/unseen1_unseen/status/2010547216906125721?s=20 https://twitter.com/jeffreytucker/status/2010520328389173522?s=20  would love to have been a fly on that wall, just listening in. Jerome caved. Now he is whining like a man-child that his supposed independence is being compromised by a threatened criminal indictment over a profligate building project. Historians will have a hard time making sense of this hilarity, including the faux-serious pose in this histrionic statement of pretend integrity. There is no place in a democracy for a secretive and all-controlling central bank. These conspirators are toast, if not now or tomorrow, then eventually. A peoples’ government needs a peoples’ money that people can own and control, and a banking system that is based on market competition, not a cartel of big shots. Sorry, Jerome, you showed your cards five years ago, revealing exactly who and what you serve, and that is not the American people. These are the end times for the Federal Reserve. https://twitter.com/julie_kelly2/status/2010771831658107044?s=20 https://twitter.com/julie_kelly2/status/2010761420082917557?s=20 Silver and Gold Hit New Highs on Fed Probe and Heightened Geopolitical Tensions   Gold and silver prices are climbing in response to concerns around geopolitical issues and policy independence at the Federal Reserve. Source: barrons.com    of Dollars! It would be a complete mess, and almost impossible for our Country to pay. Anybody who says that it can be quickly and easily done would be making a false, inaccurate, or totally misunderstood answer to this very large and complex question. It may not be possible but, if it were, it would be Dollars that would be so large that it would take many years to figure out what number we are talking about and even, who, when, and where, to pay. Remember, when America shines brightly, the World shines brightly. In other words, if the Supreme Court rules against the United States of America on this National Security bonanza, WE'RE SCREWED! PRESIDENT DONALD J. TRUMP Political/Rights  WBD is not just another studio. It is the home of HBO, DC Comics, the Harry Potter films, Game of Thrones, and one of the most important film archives in the world. Netflix itself boasts that the acquisition would combine Warner's “iconic franchises and storied libraries” with the world's largest streaming platform. If Netflix absorbs these assets, it will not just be the biggest streaming service. It will become the most dominant cultural gatekeeper the United States — and much of the world — has ever seen. Yet despite the obvious risks, WBD's leadership is pushing forward even though Paramount Skydance has launched an all-cash tender offer of $30 per share for the entire company — a bid that implies significantly higher value for shareholders than Netflix's offer.  At the same time, merging WBD's vast film and television library into Netflix would weaken competition in both streaming and content markets and concentrate cultural power in ways fundamentally at odds with the diversity of voices a free nation needs to survive. On these grounds alone, this merger should be stopped. Handing this machine control over Warner's franchises and future output would allow one company to rewrite characters, retell history, redefine social norms, and control which ideas reach audiences. Majority Of North Carolina Trucking Licenses Issued To Foreigners Are Illegal: Duffy A review of non-domiciled commercial driver's licenses (CDLs) granted in North Carolina found that 54 percent were issued illegally, the Department of Transportation (DOT) said in a statement on Jan. 8. The review was conducted by the Federal Motor Carrier Safety Administration (FMCSA) and is part of its ongoing nationwide audit of trucking licensing systems, the department said. DOT warned that if North Carolina does not “fix their serious failures” and revoke licenses issued illegally to foreign nationals, the department will withhold almost $50 million in federal funding. Source: zerohedge.com DOT Strips California Of $160 Million Over Foreign Truckers A showdown between the U.S. Department of Transportation and the State of California reached a breaking point on Wednesday after Transportation Secretary Sean Duffy announced the Federal Motor Carrier Safety Administration will withhold approximately $160 million in safety program money from the state. The move follows California's failure to meet a January 5 deadline to cancel more than 17,000 commercial truck driver's licenses that Duffy asserts were unlawfully issued by the state to foreign truckers. The California Department of Motor Vehicles announced in late December that it would delay the cancellation until March 6, but FMCSA did not agree to the extension. The $160 million penalty marks the first year of potential sanctions. Under federal law, if California continues to defy the FMCSA's Final Determination, the amount withheld could double in the second year. Source: zerohedge.com DOGE Yes, Dina Powell McCormick worked in the Trump administration. She served as the United States Deputy National Security Advisor for Strategy from 2017 to 2018 . She also held the role of Senior Advisor to the President for Entrepreneurship, Economic Growth, and the Empowerment of Women starting in January 2017 . For context, the Truth Social post you linked is Trump congratulating her on her new role as President and Vice Chairman of Meta (announced today, January 12, 2026)  1104 Q !xowAT4Z3VQ ID: 28003e No.967331 Apr 9 2018 12:09:25 (EST) Anonymous ID: db2d29 No.967224 Apr 9 2018 12:02:45 (EST) >>967123 YOU are being TRACKED. NO FB account required. WTF? Is it embedded in Android OS? This is BIGGER than you think. Agencies attached. Q >>967224 Think ‘Bridge’. GOOG. FB. TWITTER. IG. ‘Central’ algorithm. The stage had to be set. Q Geopolitical  U.K Asks Germany and France, EU NATO, to Support Expanded Presence in Greenland  President Trump wins again. Seriously folks, you would think that after all this time the Europeans would finally understand how President Trump manipulates the media cycle and gets them to do exactly what he wants – while they and the majority of their constituents think it's exactly the opposite.  This stuff is just too funny now. According to European media outlets, British Prime Minister Keir Starmer is in discussions with Germany and France to send a NATO alliance to Greenland to establish a stronger NATO military footprint. {LINK} The media present this, hilariously, as if European NATO is going to defend Greenland against President Trump and the USA military. {{INSERT SEVERAL LAUGHING EMOJIS HERE}} I mean, think about it rationally. The U.K, France and Germany are unwilling to send troops into Ukraine without the protection of the U.S. military.  But somehow, for some reason, the U.K, France and Germany are going to send troops to Greenland to defend against the U.S. military. The narrative sounds silly when put into context, right? So, President Trump starts talking about the U.S. taking aggressive unilateral action to secure Greenland as a strategic national security matter.  Suddenly, ‘Voila!' European NATO, under the auspices of defending their Denmark democracy, wakes up and says, ‘No, wait, you can't just take Greenland, that's bad.'  Then they assemble urgent talks to send EU NATO military resources to Greenland.  Exactly what President Trump has been requesting to formerly deaf ears. See how that works?  Source: theconservativetreehouse.com https://twitter.com/thestinkeye/status/2010481974985560110?s=20  notes… JSOC   Step 4: seize narrative and news cycles for a week or two while all the large accounts get their marching orders and post the same stuff over and over. The EU threatens to mobilize to “protect Greenland” and quietly discovers they cannot project meaningful power outside their continent without the US. Step 5: DJT walks back the outrageous solution (invasion) to the somewhat radical solution (purchase). The big accounts feel like they matter, the little accounts feel like the have been heard. DJT gets what he wanted all along, and Denmark gets a pile of money to fritter away buying votes with socialist BS. https://twitter.com/amuse/status/2010567080802738660?s=20 https://twitter.com/MarioNawfal/status/2010739799477354900?s=20 systemic instability. https://twitter.com/sentdefender/status/2010605925342597449?s=20   Guard Corps (IRGC). https://twitter.com/RapidResponse47/status/2010532329303965733?s=20  Venezuela’s leader was a fugitive from US law enforcement and not a legitimate head of state, according to 60 different countries. He was apprehended, and Venezuela’s remaining leaders were asked to cooperate with US expectations. Greenland is likely to negotiate a compact of free association with the US and receive financial assistance, while maintaining self-governance, in exchange for military protection. Cuba is in rapid decline due to a loss of support from Venezuela (and other factors). China and Russia could offer assistance, but at considerable risk. Trump can wait and watch Cuba self-destruct, then come in and offer assistance to the Cuban people if and when they ask. Iran is in a similar situation to Cuba: a nation in rapid decline, with massive risk for Trump if he intervenes too quickly. The likely play there is to wait for the Ayatollah to flee. There would be no finger-pointing about “regime change” if the Islamic regime collapses on its own. Then, the US could offer assistance as an interim government is established. War/Peace https://twitter.com/WallStreetMav/status/2010435240079319153?s=20  specifically exclude any NATO troops from ever being put into Ukraine. All of these steps are designed to specifically undermine President Trump’s efforts at peace between Ukraine and Russia. The warmongers in Europe are determined to keep the war going as long as possible. They need to distract their voters with enemies so they don’t realize how Europe is collapsing economically and culturally. The European “leaders” desperately need enemies like Trump and Putin in order to point the finger and cast blame while things get worse in their own countries. Blame external forces, not their own policies. North Korean Hackers Using QR Codes to Steal Sensitive Information: FBI  North Korean state-sponsored cyber threat group Kimsuky is targeting American entities via a QR code scheme that can compromise sensitive information, the FBI said in a Jan. 8 alert. “As of 2025, Kimsuky actors have targeted think tanks, academic institutions, and both U.S. and foreign government entities with embedded malicious Quick Response (QR) codes in spearphishing campaigns,” the FBI stated. “This type of spearphishing attack is referred to as Quishing.” “Quishing (QR Code Phishing) is a phishing technique in which adversaries embed malicious URLs inside QR codes to force victims to pivot from their corporate endpoint to a mobile device, bypassing traditional email security controls.” In quishing campaigns, threat actors send QR images to targets as email attachments or embedded graphics, which typically evade URL inspection mechanisms. When targets scan the QR code, they are routed via redirectors to webpages that harvest their credentials. Such webpages impersonate Microsoft 365, Okta, or VPN portals. These operations typically end with hackers bypassing multifactor authentication (MFA) and hijacking cloud identities without triggering the usual “MFA failed” alerts. They can then establish persistence in the organizations' networks and use the compromised mailboxes to carry out further hacking operations, the agency warned. The FBI recommended that organizations adopt a multilayered security strategy to tackle the unique risks posed by QR hacking schemes. Source:  americafirstreport.com  https://twitter.com/disclosetv/status/2010464207192371542?s=20 Medical/False Flags Cancer Drugs Drive Nearly One-Fifth Of Pharma Sales  The global pharmaceutical industry’s revenue is increasingly concentrated in a handful of high-value drug classes, with oncology, diabetes/obesity treatments and immunology leading the charge. As Statista’s Tristan Gaudiat details below, according to estimates from Statista Market Insights, cancer drugs alone generated over $217 billion last year, making oncology the largest therapeutic segment, driving nearly one-fifth (18 percent) of all pharmaceutical sales. You will find more infographics at Statista Antidiabetic medicines rank second, with estimated sales of over $85 billion in 2025, contributing 7 percent to global market revenues. Source: zerohedge.com   then Premiums will FALL, by 50% or more, for most people. I want to go back to the three year window where you can get in there for ObamaCare where you won't pay as much. Don't expand ObamaCare. Congress must make Trump Rules permanent. These were President Trump's 2018 Short Term Plans Rule that President Obama terminated. All Congress has to do is say, ‘Look, the Short Term Plans can last up to 36 months, your Insurer can sell you a Renewal Guarantee so it can last even beyond that period, and you will get lower priced Insurance, better Insurance, Longer Term Insurance and, it doesn't cost Taxpayers a dime or, it won't destabilize ObamaCare.' Much simpler than what President Trump's advisers are selling him, much better to assuage the fears of nervous Democrats, because we had these Rules in place for six years, and ObamaCare did not crater. Subsidies will not solve this problem. Government should be capping what it spends on Healthcare at ZERO. Send them a check. No need for subsidies. Congress has to get out of the way of Private Insurance Companies. Give the money to the Consumers to buy directly from the Health Insurance Companies.” [DS] Agenda https://twitter.com/ElectionWiz/status/2010347486783693056?s=20 https://twitter.com/WarClandestine/status/2010445777676673233?s=20 https://twitter.com/RealAbs1776/status/2010549397969350845?s=20 https://twitter.com/amuse/status/2010554642107675018?s=20 https://twitter.com/DHSgov/status/2010362097562013779?s=20 https://twitter.com/RapidResponse47/status/2010540542220726775?s=20 https://twitter.com/disclosetv/status/2010537739767238962?s=20 https://twitter.com/TheStormRedux/status/2010374476819472477?s=20   dozens and dozens of those individuals to justice already. We're gonna keep hundreds of HSI officers there to continue to protect those children. Every day we get another individual that was sexual assault against a child. Sodomy against a child. I can't believe that the mayor and governor can defend allowing those people to go out there and victimize more of our children and grandchildren.” Infuriating. When see you see these dumbass leftists protesting in the streets, just know that they are out there protecting pedophiles. At this point, how can anyone claim that the Democrats are the “good guys”? https://twitter.com/AGPamBondi/status/2010755631972577560?s=20   rammed a Border Patrol vehicle, threatening the lives of federal law enforcement officers. He should NEVER have been in our country to begin with, and we will ensure he NEVER walks free in America again. President Trump's Plan https://twitter.com/amuse/status/2010487811732840449?s=20  A federal grand jury voted to indict the former FBI Director on two felony counts — and then three federal judges unraveled that indictment through conjecture, media narratives, personalized attacks on the United States Attorney, and procedural anomalies that have no precedent in federal criminal practice. https://twitter.com/RealSLokhova/status/2010247488826175976?s=20 https://twitter.com/realJeremyCarl/status/2010710384769151325?s=20 (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");

Keith explores two big themes shaping real estate investors' futures: Why more Americans are becoming "forever renters"—and how long-term lifestyle and demographic shifts (not just today's prices and rates) are quietly reshaping the demand for rentals. The growing conversation around eliminating property taxes—which states are making the most noise, and why the real issue isn't whether property taxes go away, but what would realistically replace them. Keith also zooms out for a quick year-end tour of major asset classes—from stocks and real estate to metals and crypto—so listeners can see where real estate fits in the broader investing landscape and what these shifts might mean for their wealth-building strategy. Episode Page: GetRichEducation.com/588 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.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.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  1-937-795-8989 to speak with a freedom coach Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— GREletter.com or text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, the Forever renter trend keeps getting embedded deeper into American culture. What's behind it? It's more than just finances. Then there's been more talk about eliminating property taxes, if they go away, what replaces them? And we'll discuss more today on get rich education.   Keith Weinhold  0:27   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki. Get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Corey Coates  1:12   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  1:28   Welcome to GRE from Jamestown, New York to Jamestown, North Dakota and across 108 nations worldwide. I'm Keith Weinhold, and this is get rich education. Most investments reduce your income until you can start drawing on it and paying taxes on it in your 60s. That's a lot of decades of living below your means. Here learn how to grow your means and invest in vehicles that pay you when you're young enough to enjoy it and pay you five ways tax advantaged. Hey, there's a big misunderstanding about the housing market taking place right now. Yes, today's higher cost of home ownership contributes to Americans renting longer, for sure, but let's not make the mistake of thinking this is a new phenomenon just because home prices moved higher or mortgage rates began normalizing again a few years ago, that's not what it's about Americans renting longer. That is a trend decades in the making, and it has had and will continue to have major implications on the rental housing market decades into the future, buying your first home at 25 that was your grandparents or maybe your parents. Today, it kind of goes like this in life's journey for the wannabe homeowner, First comes the gray hair, then comes the mortgage. Last year, we learned that the average first time homebuyer age in America has moved up to 40. Back in 1981 it was age 29 per the NAR. More specifically one's real estate journey, it basically now goes like this, rent, rent, rent, have roommates again, go back to renting, chiropractor, Bank of mom and dad, then a mortgage maybe.   Keith Weinhold  3:34   Yeah, the home ownership rate, it keeps falling among every age group, most sharply among 30 somethings. The translation here is that more renters are coming. For those in their 30s, the home ownership rate maxed out at 69% in 1980 it's fallen to just 47% today. Those that are older, for those in their 40s, the homeownership rate maxed out at 78% in 1982 it has fallen to just 62% today and so on. Every 10 year age group all the way to those age 80 plus, the homeownership rate has fallen for all of them over the decades too, every single age cohort. The home ownership rate has fallen over the decades, and that is all per the Census Bureau. I'll tell you why this forever renter trend just keeps strengthening in a moment. But if you don't own your home, here are your current housing options. You can live with your parents. Yes, welcome back childhood bedroom with those glow in the dark stars on the ceiling. Sadly, you can be homeless. That is really not good. Or the other option is you can rent something nice, new, modern, and energy eficient. The group in which home ownership has fallen the most are those 30 somethings. 20 somethings aren't even part of what the Census Bureau reported here. It fell most sharply in the 1980s and then again, after the great recession. And here's what I know you might be thinking because we have some of the smartest listeners around. I bet that during times that buying was cheaper than renting, the trend reversed. That's what you might be thinking. No, it didn't. Regardless of what is cheaper, over time, the home ownership rate just keeps falling despite those periods, whatever is cheaper renting or owning now the overall home ownership rate that's fallen just since 2023 from 66% down to 65% that might not sound like much, but a Full 1% drop there means 1.3 million new renters already, just since 2023 and now you might be thinking, well, this is like totally because home prices and mortgage rates have been higher since that time. They've been higher since 2023 you are, in fact, somewhat correct about the affordability on a median priced home today, which is around 420k, I mean a 10% down payment and closing costs, that means you're out of pocket, probably more than 50k and it's 100k plus for a 20% down payment. And this is often an insurmountable hurdle without financial help from the Bank of mom and dad. But this is all part of a longer, multi decade set of trends. And look, a lot of these trends don't have much of anything to do with finances. People are renting longer because Americans wait longer to marry and have kids, and this has persisted, whether economic cycles are good or bad, and certainly, regardless of what mortgage rate levels are, younger generations value flexibility. That's another reason people are renting longer. Also 30 somethings are just simply more comfortable with subscription models like renting. I mean, look at Netflix and Uber and Spotify. It's been decades since anyone actually bought DVDs or CDs. Yeah, renting is just sort of another subscription model. More. Boomers are also renting for convenience. They would rather play pickleball instead of mow a lawn. This is something that they figured out a while ago. Also higher consumer and educational debt keeps people renting. You've got buy now, pay later. Companies like Klarna that are booming and mortgage eligibility got sucked from souls when all this happened? Hey, I've got more a ton of reasons for why more and more people are renters today, and how this trend is your friend if you are a rental property investor.    Keith Weinhold  8:13   Also, let's be mindful when we broke the gold standard in 1971 asset prices took off like a Blue Origin launch, and wages stagnated. That makes it tough to patch together a down payment and look, there is still an antiquated notion out there that apartments especially are like replete with paper thin walls and one in every five units is a meth lab. Have you toured apartment buildings, fourplexes, duplexes and single family rentals built in the last 10 years? Sheesh. Great amenities. Expect to see granite countertops, patios, fenced yards, gyms, sometimes even pet spas at Class A apartments, washer, dryer in unit. I mean, that has been standard for a long time, LED lighting, smart locks, increasingly office nooks for remote workers. Those are the modern amenities that you find in a rental. So the bottom line here is that as Americans age, there is an elongated renter stage of life. It's not just prices or rates, it is lifestyle. And this is why, even when affordability improves, the homeownership rate should continue to drop. More rental demand is coming. So yes, an elongated renter stage, this forever renter, if you will. That is somewhat about finances, but it is more, and this shapes the landlordtenant landscape for decades. And of course, your advantage here at GRE is even if you live in a High Cost part of the nation, we know how to buy here, say, a brand new build to rent single family property in an investor advantage place like Indiana, Missouri, Alabama or Florida, and we get it for, say, 300k or so, and you get a tenant that will pay you rent for four years or more in a lot of cases. So we've been talking about where the rental demand is coming from. It is both a lifestyle choice and a financial consideration for your tenant. Now this forever renter trend, that's something that really matters if you are providing housing to people. But some real estate trends just move so slowly, so glacier like that, you can kind of get lulled to sleep, until one day you look up and a trend has crystallized like the one that I just described. Let's compare a trend like that to something that people think matters a lot, and this does matter, but its importance is overinflated, and that is, for example, the President's nomination of a new Fed chair this year, and how that's going to move the real estate market. No, not as much as people think, as we've learned here, mortgage rates actually don't have that much to do with home prices. And yes, mortgage rates do move. They are correlated with the Fed funds rate. Yes, they are. When one is high, the other will be high. When one is low, the other will be low. They just don't move in direct lockstep. Let's listen in to the remarks of one Donald John Trump on the matter, because he talks about housing here. This is about a minute long, and then I come back to comment when Trump says him, he is apparently pointing to Treasury Secretary Scott Besant, who was in the room at the time, but as you'll hear, he's not expected to be the Fed Chair selection.    Speaker 1  12:06   Have you started the interviews for the Fed chair? Yes. Who have you interviewed? Ithink I already know my choice well. I like to him, but he's not going to take the job very fast. You like Treasury better, right? Much better, sir. So we are talking to various people and the I mean, frankly, I'd love to get the guy currently, and they're out right now,but people are holding me back. He's done a terrible job, hurting housing a little bit. The truth is, we've been so successful, we've blown past his interest rate. Stupidity. He's been wrong. That's why I call him too late. He's too late. Jerome, too late. Powell, he was recommended to me by a guy that made a bad, you know, bad choice, and it's too bad. But despite that, it's having very little impact, because we have, you know, we have all of these things happening, but it has an impact on housing to a certain extent. He's a fool. He's a stupid man, but we have some very good people   Keith Weinhold  13:09   yeah. So this matters, but it's as much entertainment and almost comedy against a demographic trend like the Forever renter propensity, a calendar year recently ended. It's time to make a quick rundown of the overall investing landscape. Once in a while we do that. It's good to check the movement on other asset classes outside real estate. It's our asset class rundown for last year, the s, p5, 100 was up nearly 17% that's the third year in a row of double digit gains in the year that Warren Buffett stepped down as CEO of Berkshire Hathaway, there's a warning. The S and P Schiller price to earnings ratio soared above 40 for only the second time in history. That's an indicator that stocks are overvalued. The only other time that happened was during the.com bubble in real estate, single family home values were up about 2% per the NAR just over 1% per Kay Shiller, apartment building values were flat to a slight decline. There is no such thing as an official apartment building Price Index, CPI inflation, up almost 3% on the year. It now hasn't been at the Fed's target of 2% or lower for a calendar year since 2019 Yeah, it has run hot all that time. Last year, mortgage rates fell from 6.9% to 6.2% and then, as you would expect, the yield on the 10 year treasury note also fell from 4.6 to 4.2 The dollar fell hard with a thud down 9% its worst performance since 2017 WTI oil prices fell from 70 bucks to $58 that's an 18% decline, but really the story of the year among all asset. Classes is what happened with precious metals, gold up a staggering 68% over the past year, touching an all time high of about $4,500 silver, up about 155% leaving investors flabbergasted and slack jawed, touching an all time high of over $80 platinum and palladium had near triple digit gains the real price of gold. This means inflation adjusted even jumped to its all time high last year, significantly surpassing the previous peaks of 1980 2011, and 2020. Realized this. More than 80% of all the recoverable gold on earth has already been extracted. Silver has been the top performing major asset class. In fact, today, a little one ounce silver coin is worth more than a 300 pound barrel of oil. Sticking with the topic of metals, inflation finally killed a penny. The last one was minted in 2025 in Philadelphia, ending a continuous run of the US minting the penny since 1792 no more. Bitcoin was down 6% falling from 93k to 87k the NASDAQ is aiming for near round the clock trading. It currently trades 16 hours a day, five days a week. They are looking to go up to 23 hours a day, five days a week in the second half of this year. That's our year end asset class rundown    Keith Weinhold  16:34   coming up in future weeks of the get rich education podcast. I am going to do an episode on overpopulation versus underpopulation? Is the world over or underpopulated, and is the United States over or underpopulated? This obviously has huge implications for the housing market. Then on another episode, we're going to discuss a real estate axis strategy we've never discussed before, called the 721 exchange. Now you might have heard of the better known 1031 tax deferred exchange, but the 731 is different. When you get older as a property owner and you realize that you don't want the hassles of landlording anymore, you can sell your properties to a partnership. The 721 exchange dictates that this is not a taxable event, and therefore no capital gains taxes or depreciation recapture are due. Property owners still get the benefits of cash flow and the appreciation across a greater number of properties and markets, and it's a great estate planning tool as well. Yes, that's the 721, exchange. We are going to cover it here. When it comes to investment real estate, I guess we cover nearly everything that's coming up on a future episode. As for today, we're talking about property taxes, if they go away, what replaces them that comes up shortly? Visit get richeducation.com to learn more about how we help you and what we do, and to get connected with real estate. Pays five ways type of properties. Visit gre marketplace.com. I'm Keith Weinhold. You're listening to get rich education.    Keith Weinhold  18:23   You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why? Fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program when you speak to a freedom coach there, and that's just one part of their family of products. They've got workshops, webinars and seminars designed to educate you before you invest. Start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom family investments.com/gre, or send a text. Now it's 1-937-795-8989,yep, text their freedom coach directly. Again, 1-937-795-8989,   Keith Weinhold  19:34   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage, start your pre qual and even chat with President chailey Ridge personally while it's on your mind. Start at Ridge lending group.com that's Ridge lending group.com    Jim Rickards  20:05   this is author Jim Rickards. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  20:22   Welcome back to get rich education. Episode 588 for the 12th consecutive year here, I'm your host. Keith Weinhold, I look forward to perhaps meeting you in person this coming weekend, as I'll be attending the real estate guys create your future goals retreat event in Colorado Springs. You probably remember that we have had the events host and leader, Robert Helms, of the real estate guys on the show with us here several times in the past. What a class act I am spending a few extra days after the event in Colorado Springs to both look at local real estate in that market and climb the Manitou incline, that's this grueling climbing challenge up a slope of Pikes Peak. If you want to climb with me after the real estate guys event, bring your running shoes and I'll lead a group of us up there    Keith Weinhold  21:13   if property taxes go away, what replaces them? Realtor.com recently had a terrific article about this that you can look up the property tax revolt is spreading, but the replacement plan isn't let's look at the probability and possibility of eliminating property tax. Think about how property tax elimination would increase the value of your property well, because now every buyer could afford to pay more, since they won't have that property tax expense. And of course, if you were to remove property tax as a line item from your income and expense statement, your cash flow could double, triple, or even five or 10x depending on your current cash, on cash return. But that cash flow part is less likely because most efforts to eliminate the property tax, they focus on homes, primary residences. Well, several states have either active legislation efforts or these sort of informal grassroots movements to significantly cut down or just totally abolish property tax, but no state has fully eliminated them yet. The most prominent efforts are in five states, most notably Florida, where Governor Ron DeSantis has made the most noise about it. He proposed eliminating property taxes on homesteaded which are primary residence properties, and he aims for a constitutional amendment on the November ballot to achieve this, that is 10 months from now. And that proposal, it's still pretty early in the legislative stages, and the state is also considering property tax rebates in the meantime. Now, even if you own rental property, and property tax were only eliminated on primary residences, it would still cause the value of your property to boom pretty nicely, even if it didn't help the cash flow. The state that's made the second most noise is Ohio. A grassroots organization has called Citizens for property tax reform. They have actively campaigned to place a constitutional amendment on their ballot that would just totally abolish property taxes statewide. Third most is Kansas. They propose legislation and that aims to effectively bump up sales tax to replace property tax. The fourth out of five is North Dakota. Let's look at what they're doing following a failed 2024, ballot measure to just totally abolish the property tax outright. Well, there's a new proposal from the governor, and that seeks this phased out elimination for most homeowners over a decade. And see, North Dakota has a slightly better chance of pulling that off, because they can fund that from the state's Legacy Fund, that's their oil well fund, and then making the fifth most abolition of property tax noise is my home state of Pennsylvania. Lawmakers have introduced bills to eliminate all property tax. They also aim for a constitutional amendment to put that issue before the voters. So they are the five states that have made the most noise, and that's what their approach is.    Keith Weinhold  24:43   Now, seemingly for most of my life, homeowners and landlords have griped about property tax, saying it's the most ridiculous tax of them all, because you pay it year after year after year in perpetuity. And it just never goes away. Unlike other taxes that are just a one time tax, even if your property's mortgage is paid off, you still have a house payment, and that is largely due to property tax. Understand, though, that currently a lot of states give you a reduced property tax once you reach a senior age, usually age 65 plus some start as low as 61 but when it comes to eliminating the property tax, there's a part of the conversation that's really important, and it has been notably absent, and that is a novel solution to replace the lost revenue. And it gets rather interesting to look around and see where else the money might be raised if they eliminate property tax. See, and this is really important to understand, property taxes generate 70% of local revenue, up to 90% of school funding and 25% of all state and local tax revenue in aggregate in Florida. Okay, that's just in Florida those numbers, but a lot of states have a similar scenario, and in Florida, that comes out to about $50 billion a year. That is a big hole to plug, that is a big gap to fill, and it underlines both the burden homeowners are currently shouldering and how hard it's going to be to fill that gap with anything that's more stable or equitable, that's going to last as a funding source, yes, 90% of school funding. You heard that, right? If you talk to an old timer, you know sometimes you still hear an elderly person refer to property taxes as school taxes. So see, this question of, Do you want to abolish property taxes? One reason that's become louder and louder these past few years, and why you hear more about it is due to that increased affordability strain. That's why you're hearing more about it now the question, do you want to abolish property taxes? That is the wrong question. A grassroots push to AX the property tax that's gained traction, really, among some senior homeowners facing property tax bills that are as high as their mortgage. Once was last summer, for example, in Mahoning County, Ohio, the tax delinquency rate hit 18% almost one in five people having trouble paying their property tax, and that county had more than 70 million in unpaid property taxes. In some neighborhoods in Youngstown, as many as one in three homeowners were behind. And in Cuyahoga County, which is basically Cleveland, values jumped 32% on average after reassessments that fueled a $60 million dollar increase in past due balances this whole do we want to abolish property taxes? Question? You're going to see why that's the wrong question and why it's incomplete, because that slogan that skips the only part that really matters here, and that is, what is the replacement plan, realistically, taxpayers should be asked if, in lieu of property tax, they'd rather pay higher sales taxes or higher income taxes, or for those with no state income tax, like Texas or Florida, pay one for the first time. I don't like those answers. I wish governments would spend more efficiently, but that's not the angle that we're looking at here. Property taxes are the true lifeblood of local governments. I mean, they fund everything from public safety to roads to schools, and just because property taxes disappear, well that doesn't mean that the need for firefighters goes away, that the need for police officers goes away, or the infrastructure for public school systems is going to be gone, or the roads go away. So if property taxes are cut, then another revenue generating device has to emerge to keep services funded and running. And it's a little funny. I've been talking about certain states here. But of course, property taxes are exacted and assessed at the county and local level. And look, I mean, you know how the world works, you know what the nature of society is. As soon as someone has their income stream, they quickly grow into that lifestyle and the new larger spending pattern. So taking away an existing income stream or even reducing it a little, I mean, that can almost trigger outrage and protests, for example, the outcry that we had last year about cutting snap payments. But it works this way. With anything. I mean, sheesh. For the majority of Americans, if you cut their income even 10% they would struggle to survive. They would struggle to put food in the fridge. So these repeal the property tax campaigns, they often avoid the reality of the replacement math.    Keith Weinhold  30:19   Now, some states have taken a swing at replacing property tax revenue, but few, if any, have succeeded. Now, Nebraska lawmakers, what they did is they floated higher cigarette taxes as a way to fund a goal of cutting their property taxes by 40% I mean, nice try. But according to an analysis by the Tax Foundation, that tax base was far too small. I mean to tell you more about what a terrible miss. This example is Nebraska cigarette taxes. They raised about $52 million in 2024 while property taxes raised $5.3 billion that is 100 times more, not even close, even if you could raise more money in the short run, excise revenues like this cigarette tax, they're pretty volatile, and they often shrink as the demand ebbs and flows. So it really makes them a poor backbone for expenses that grow over time, and they don't eliminate the cost so much as concentrated. So what they do is they sort of shift this broad civic obligation funding all this stuff, police, fire, school, from homeowners onto a much narrower group, in this case, people who smoke. That is not going to work for Nebraska, all right, well, what about a bigger deal, like replacing it with sales tax? Well, they run into a different problem. Local economies are not built the same. You might have a sales tax heavy tourist County, well, they can raise far more money than an agricultural county. And Florida is a clear illustration. They have lots of tourism and lots of agriculture replacing property taxes with sales tax. That would require eye popping sales tax rates too. According to the Tax Foundation Florida statewide, they would have to go from 7% to over 15% sales tax in Florida. But it gets even worse, because counties with a thin sales tax base would have to charge over 32% sales tax. My gosh, that is not going to work, all right. Well, how about another big one? Let's have income taxes replace property tax in a lot of states. I mean, the income tax that's large enough to raise pretty meaningful revenue. But the trade off is that income taxes come with their own sort of economic and political distortions, and once they're added, you know, they rarely stay confined to the tidy swap that voters were promised. I mean, look at New Jersey. They adopted an income tax in the 1970s to provide property tax relief, but over time, that swap proved hard to manage and hard to enforce, and now today, New Jersey has one of the highest effective property tax and state income tax rates combined in the nation. So the point is that all these property tax replacement tools are just inherently piecemeal. Each tax or fee has like this different payer base or some different vulnerability. I mean, if tourism dips, for example, revenues could drop really fast. And the same is true if a regulated industry contracts, or if consumption patterns shift. And you know that volatility, that's manageable for some narrow program, but that is dangerous as the foundation for essential services like public safety and street maintenance and police and schools and fire. Well, how about forgetting all that? Let's just have the government then totally get out of providing public safety and not have the government provide street maintenance and have the government get out of schools. I mean, we used to have more private companies provide you with some of those services. We didn't even have a federal income tax at all until 1913 other than a temporary one to fund the Civil War. But all of that is a bigger topic that we are not going to get into today. The point is, instead of asking the question, do you want to abolish property taxes? The better question is, which replacement are you choosing and who pays for it? Because local costs come on, they're just not likely to shrink anytime soon. After all, all of this schools, fire and police departments, public works, divisions, they're all subject to the same inflation and the same rising costs as the rest of the economy is so the property tax is unpopular. As it is, it does have one functional advantage. It is tied to this immovable base of properties. It's collected locally, and it's designed to fund on going services. That is not to say that some homeowners don't need relief. Some of them clearly do. But eliminating property taxes, that just does not eliminate the underlying cost of government. All it does is reallocate it, and that reallocation can get messy, that shifts a bigger burden onto a smaller share of taxpayers, whether it's smokers, like it was in Nebraska, or whether it's rural shoppers like the Florida sales tax example, or doubly on working homeowners, like it is in the New Jersey income tax example. I have studied this, and I have not seen novel approaches that really keep communities funded without creating some new distortion somewhere else. But unfortunately, one thing that I have seen is this repeal rhetoric, and it makes these political platitudes all that want to just conveniently skip the replacement plan, but it all sounds good and popular when someone stands up there and says that they want to eliminate property taxes. So really the honest question on a ballot. It's not, do you want to abolish property taxes? The honest question is, are you willing to pay higher sales taxes or higher income taxes or adopt one for the first time and accept the distortions that those choices to create to eliminate the property tax? I'm not going to get into the political side of all this, because that's not what we do here. The bottom line is, though, that you're probably going to hear more about the property tax going away. It is unlikely, of course, as income property investors here, property tax is largely built into the rent. It is passed along to your tenant, and a small reduction would help you out, probably not so much on your cash flow side, since most of these proposals are only for primary residences, but even a small property tax reduction on primary residences that would boost all property values, even rental property in the one to four unit space. But you shouldn't expect much here. If property taxes are eliminated, there is just no easy and viable replacement. That's your answer today, if you represent a company that serves real estate investors get rich. Education has over 3 million IAB certified downloads and 5.8 million total listener downloads. You can learn more about advertising on the show at getricheducation.com/ad, that's get rich education.com/ad   Speaker 2  37:51   for the production team here at GRE, that's our sound engineer, bedroom jampo, who has edited every single GRE podcast episode since 2014 QC and show notes Brenda Almendariz, video lead, Binaya Gyawali, strategy Tallah Mugal, video editor, Saroza KC and producer me, we'll run it back next week for you. I'm your host. Keith Weinhold, Don't Quit Your Daydream.   Speaker 3  38:17   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. The host is operating on behalf of get rich Education LLC, exclusively   Keith Weinhold  38:45   The preceding program was brought to you by your home for wealth building, getricheducation.com  

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