J.R. and Anthony cover all the latest financial news including gas prices coming down, the FTX scandal, preparing for digital currency and the U.S. reaching the debt ceiling. Plus, the guys explain the financial services they can provide for you.

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12.10.22: Audio automatically transcribed by Sonix

12.10.22: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Producer:
Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs, and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.

Producer:
This is Another Money Show. Get set for another hour of the latest financial information and economic news affecting your bottom line. J.R. and Anthony are committed to helping more Americans like you, optimize their income, reduce their tax risk and reach financial freedom. So let's start the show. Here are your hosts, Anthony Carrao and J.R. Rotchford.

Anthony Carrao:
Here we are, your hosts, Anthony Carrao and J.R. Rotchford taking a break from our day-to-day as financial advisors with Rotchford and Associates, a fully independent fourth-generation family practice right here in the greater Phoenix area, bringing you the information you may not find on those other financial radio shows. We are aware the last thing you need is Another Money Show. But we appreciate you being here. What do you got for us today, J.R.?

J.R. Rotchford:
Well, you know, as usual, I have lots on my outline. I actually read Jim's outline yesterday. It's really good. It's a little financial. I mean, for a money show, it's a little financial for me. I really like the doom and gloom. I like sounding alarms. But the financial side of things, they're still important. You know, if I'm right and there's going to be major changes in this country and in the world, you know, that's great. You know, I always feel like I'm not wrong. I'm just early. Obviously, I'm getting closer and closer to being right. Everybody's starting to see that. But in the meantime, there's good financial planning to be done. So today, why don't we kind of end up the show today by telling people what we can do to help them. So let's let's get into the meat of things on my outline and then we'll try to end up with Jim's outline, if that's okay.

Anthony Carrao:
Well, I think we already know that you set us up for failure by saying we're going to try to talk about it at the end. Think of all of our outlines. If you say we're going to try to fit something in afterwards, you know, you're going to rant past it. You're going to give us so much wonderful information that we won't even have time for financial planning.

J.R. Rotchford:
Is this what we're doing today? Is it be mean to your dear, beloved stepfather today? Is that what we're doing?

Anthony Carrao:
We're going to bed angry.

J.R. Rotchford:
Just really what we're doing here. No, and you're right. I am. I have adult deficit disorder. I have attention deficit. I have so many attention. Adult deficit disorders. I don't even know. I have OCD. I have all these problems. So, yeah, that's fair. What you say is fair.

Anthony Carrao:
And I already screwed it up by getting you off track. All right, What were we talking about? Digital Dollar. Is that how we're starting today?

J.R. Rotchford:
No, we're talking about my attention deficit disorder, Because once you get me off track, I'm off track. You know, let me explain something to you. I went to an all boys Catholic military boarding school for high school. So, you know, in my formative years, I had to fold my underwear. I had to make a bed where they would literally come in, you know, these people and they would bounce a quarter off your bed. I was in the military when I was in high school. When I went in the actual military when I was older, it was way less strict. It was way less stringent. It was it was easy. And actually it kind of hurt me because when I went into basic training, you know, I mean, it was so weak compared to what I went through for high school. So I was a little smart aleck. I unfortunately got to do basic training twice. They let me get through it and then they did something called Recycled me. I love the name Recycle. That's why I don't recycle. Now, when you put out that blue bin, I don't do it because I still think about my time in the Air Force. So but anyway, so that should explain a lot. I had a bad childhood. Anthony So you being mean to me doesn't help, but that's okay. So we have so much to talk about. You know, I used to think this job was a science.

J.R. Rotchford:
I thought if you learn the rules, the rule of 100, the rule of 72, if you learn, you know, what the difference is between fixed and variable and all these things, you could help anybody. And then all of a sudden you're in the job for a little while and you realize this job is an art. It is not a science. Everybody is different. You know, when when we help people with their financial plans, it's just that it's plans. It's planning. Over the years, people have had products we've rarely run into, people that have had planning, and there's a lot of people that do what we do. And it's like, you know, well, you have to call yourself an adviser. You can't call yourself a planner. And unless you're a CFP, you know, we hear these different things. You have to be a fiduciary. You and I ran into somebody yesterday that is not securities licensed, the person's insurance license only. And I asked, well, how do you handle if somebody asks, are you a fiduciary? How do. You handle that? And his answer was, you know, same as mine has been forever. And I did take the fiduciary course. You are a fiduciary. I have my securities license parked. You do not. Yours is active. So our office is. We are a fiduciary practice. But it's funny because fiduciary what it means Put your best interest before mine.

J.R. Rotchford:
So if I sit down and help somebody, I am supposed to help them before I help myself. Well, no kidding. I mean, if you manage some his health or their money and you're not doing that, shame on you. Do you believe in karma? Do you believe in God? Do you believe in anything but yourself? And the answer a lot of times in our industry is no. It's sad, but it's no. So but his answer was, Well, I've always done my due diligence. I've always given full disclosure. I've always done what's right for the client. Amen. And you hit it a few weeks back. Fiduciary has become a marketing term. It's become a buzzword. If you find something that genuinely puts your interest first. Hang on to that person. That's like gold. You know, it never hurts. We always tell people it never hurts to get a second opinion, you know, make sure your person is honest. If you get a second opinion, they might give you questions to ask your advisor and make sure everything's on the up and up. So how's that for financial? I didn't mean to get that financial. I meant to get into the current events, but I'm letting you down on that one too. So anyway, I just. I have so much to say and I'm not sure where to start. You know, I guess we can start with what's going on in the news.

J.R. Rotchford:
You know, there's Russia and Ukraine is still on the on the table. You know, everybody is talking about how the gas prices are coming down. It's amazing to watch people there celebrating because they only paid like three $53 for gas and they're super excited. It's like, well, two thoughts. I have one, If you think back a couple of years ago, it was quite a bit less than that. So you're still paying more than you were. The second thought I have. Are you sure we're done? I mean, you know, when I look at the geopolitics, when I when I look at the the potential around the world of things going wrong, I'm not sure you should get used to it yet. So I like that they're coming down. I mean, I'm not just all angry at the world. I'm happy they're coming down. I just want people to be careful and know that it might not be over. You know, you look at this country, you know what, North Carolina, somebody was shooting at Transformers. You know, it's like day four or five that something like 30 or 40,000 people are without power in North Carolina. You know, when I look at the big picture, our power grid, when I look at the potential for a cyber attack and EMP something major, it it scares me. So while day to day we are doing traditional financial planning for people, I also think our show is important because you better be prepared for the worst.

J.R. Rotchford:
You know, we've had shows, I listened back to some of our earlier shows and we were talking about people having gold and silver and guns and ammo and tower gardens and mini liquor bottles and cigarettes for barter. Even if you don't drink and smoke. You know, I would add to that, you know, there is it's a very quiet before the storm feeling I have about this country. I would run out if you have the money. I don't want people to go in debt to do this, buy a solar generator, even a little mini one, because I think about these people in North Carolina and the you know, if you're without power right now, isn't it cold there? You know, in the summer in Arizona, wouldn't you like to have a small solar generator to run a fan to at least keep yourself kind of cool, you know, put water on a rag, put it on your neck and put it on a fan. You know, our whole thing about being prepared, not scared, it's really still important. So each week we're going to keep sounding alarms. We're going to keep talking to people about what's going on. Whoo! Maybe I should slow down and take a breath. I mean this when I have so much to say. I don't know how to slow down and say it all.

Anthony Carrao:
I'd say cram it all in.

J.R. Rotchford:
I am doing a good job with that. So more stuff in this country. You know, I read a lot of financial planning journals. I look for different daily emails from financial planning. Did you hear about Blackstone limiting withdrawals from their rights? So a lot of this stuff that I find it's so under the radar. I you know, on the weekends when I listen to financial shows, I don't hear the stuff I'm saying. And I and I think our people is this valuable people or are they just not care? I mean, you know, who's ever heard of Blackstone? You know, I brought up to somebody, they said, You mean BlackRock? I said, No, no, Blackstone, you have to look up Blackstone and you're going to see that basically there's some changes afoot and they don't want a run on their REIT's, which is a real estate investment trust. They don't want people to pull money out. Well, that's kind of scary. I mean, if I have my IRA in a REIT at Blackstone and I want to take it out, I think they should let me and apparently they're kind of throttling their back. So that's kind of scary. You know, our our whole thing. Do we know anybody? Yes, actually, we do. We have a client named Ray who had rates I won't say his last name for obvious reasons. And he ran into that where he went to take money out and they wouldn't let him. I believe it was through Vanguard. I don't know. I'll have to look back. But so there's a lot going on that people are not aware of. So we need to bring it up. We need to make sure if you have any position at Blackstone, read research and look into it. You know, if you can take out small amounts of money because you want your money out, start doing that.

Anthony Carrao:
So we did last year in a REIT and we requested that it all be taken out and I think they allowed like less than 2% of it to come out. I remember that only small. Yeah, No. So this has been going on for a while. I mean again, talking about housing market. Oh, it's going to keep going up. This time is different. This time is different. Well, people are finally seeing like, no, this time was not different. This time is actually I mean, cumulatively worse from what I'm seeing. Cumulative change in existed single family home sales during Fed hikes. You know, in 2004, 2015 when they started jumping up rates, I mean, housing slowed down, but not to the rate that it slowed down this time around. So but it's just it was such a bubble that it's hard to really see compared to what it was. But in the past, because it's just been so strange for the last couple of years that housing market.

J.R. Rotchford:
Well, and that's why I'm bringing up REITs because I think we're being proactive again, I think in the next six months to two years. You're going to hear a lot more. Having you throttled back. So with that said. Why don't we take a break? You know, as usual, reach out to us. Give us a call. 623 523 0444. Or check out our website AnotherMoneyShow.com. You can also email us if you have questions we'll get to them. And that is team@anothermoneyshow.com. Thanks for being here and we will be right back.

Producer:
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Producer:
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Anthony Carrao:
Welcome back. You were listening to Another Money Show, J.R. Rotchford Anthony Carrao. And you may have heard in the news these last few episodes we've been talking about the railroad strike and how detrimental that will be to the US and our supply chain. But luckily, the government intervened after running on a pro-union stance and said We don't care about the union because you can't strike because that will hurt the economy. We're just going to make it illegal. So how Congress can come in and make striking illegal still kind of blows my mind. I didn't know that was a thing. Did you?

J.R. Rotchford:
Well, I kind of figure I mean, when you look at the size and the scope of the government right now, if you're not seeing that they can do whatever they want, I'm not sure. I'm not sure what you're seeing. I mean, you know.

Anthony Carrao:
The list of overreach that they've been doing for years.

J.R. Rotchford:
Well, yeah, but, you know, in a few minutes, we'll switch gears and talk about what scares us the most with overreach. But, yeah, I mean, they you know, Biden came out I don't know what it was in October and he fixed it. He single handedly fixed the railroad strike. We were told the next day he did not from a railroad employee directly and the railroad employee was correct. So now Congress fixed the railroad strike for a second time. You know, and what I've been reading about it, you know, it's going to be detrimental politically come 2024, like a lot of these members of the union are going to remember that the government is extremely the current political landscape is extremely pro-union. These people are going to remember that and vote differently. You know, does it matter? You know, we're in Arizona where, you know, a big chunk of the people feel like your vote didn't count. They feel like their election was rigged. I don't know. You know, yesterday was Georgia's, you know, WALKER And and whatever the other person's name, I can't follow all this stuff. I just know that the government is really they're doing whatever they want. I can tell you that. And the railroad strike being averted right before Christmas is a good thing. So I'm not saying it's bad. I think it's good. I think the way it was done is bad. I think we need to go back to the country with government representing the people. I think we actually need to consider what we're doing here. You know, if you lose faith in your institutions, you lose faith in your country. That is beautiful. Jim actually wrote that on the screen, that that is beautiful.

Anthony Carrao:
If you think if you lose or if your resolution is to make what you're trying to accomplish illegal, that's not a resolution. I mean, you can make it illegal, but what's to stop them from striking still? So what, they're going to arrest everybody. Now you just have the exact same problem that you just tried to fix by making it illegal. So technically, I don't think they fixed anything. So we'll see if this continues and becomes a problem in the future. But it wouldn't surprise me if it does.

J.R. Rotchford:
All right. Amen. Well, and you know, when they talk about they averted the strike right before Christmas, you know, a Christmas I mean, it's you know, people are shopping. People are buying stuff. We are a consumer nation. We're a debtors nation. We're a debtors prison. So, yeah, that's great that we can still buy all our cheap Chinese crap from Amazon and move on. You know, my fear, the reason that I'm glad it was averted personally was not because of the stuff we have to buy for Christmas presents. You know, look at look at the potential. It's not off the table. People aren't talking about it. But we could have food shortages. You know, I really think even in the next few weeks, in the next year, you know, lettuce, if you read anything about lettuce, apparently it's becoming very expensive. A few weeks back, I was talking about eggs. I ran into a neighbor that paid $6.50 for a dozen eggs and he was not happy. And now I'm hearing a lot about lettuce. I think it's Taco Bell is going to stop putting lettuce on their menu items unless you pay extra for it. I need to vet and verify that because if that's true, that's hilarious. I can't wait to see.

Anthony Carrao:
You know, how easy it is to grow lettuce in your own home with a tower garden.

J.R. Rotchford:
We love you, Marcy. Marcy, you need to see our friend Murphy.

Anthony Carrao:
I mean, it really is those tower gardens again. Talk about food shortages, talking about being prepared. I don't need a ton of lettuce, but now I know I can grow it without issue.

J.R. Rotchford:
And you're growing peppers. You know, we have a desert tortoise. We have this. The lettuce is so good. Our desert tortoise. He's like, finicky now. Like he doesn't like kale. He'll let it sit there. If we put butter lettuce from the tower garden, he just munches that stuff up. So it's funny. The stuff is good. And, you know, we don't get a kickback. You know, if you buy a tower garden, you know, Marcy will thank us. That's about it. But we want you to know that you should have a bunch of hard assets, including a way to make food. You know, a lot of veterans, they like to go to the Army-Navy store and buy a case of MREs. Do that, get Emery's. You know, I think I brought this up last week, go to the store and buy a bunch of number ten cans in a. Bag of rice and stuff, beans, but also have a way to make food. You know, if if everything goes the way I think it will, there is no way we are not going to have a certain level of disruption in our economy.

Anthony Carrao:
And I imagine North Carolina, you think they're all prepared right now for the power to go out for weeks because of essentially a terrorist attack?

J.R. Rotchford:
I mean, it's looking like you got the FBI trying to figure out who did it. You know, I mean.

Anthony Carrao:
Yeah, I mean, to think we don't have tornadoes, we don't have hurricanes. We really don't have the natural disasters in Arizona that other people do have. We get lazy, We get not prepared. You know, a lot of those coastal towns, they know that these are possibilities and they are prepared. We get lazy here and we're not, but anything can happen anywhere. So does it hurt you to spend another couple hundred bucks and have extra food and water at your home? No, it doesn't.

J.R. Rotchford:
Nope. Put it under your guest bedroom bed. Put it in your linen closet on the top shelf, put it under something. No. And our whole thing is be prepared, not scared. Well, if you're preparing, doesn't that mean you're scared? No, it does not. If I'm prepared, it gives me peace of mind. I've been saying forever. If you have it and you don't need it. So what if you need it and you don't have it, you have a problem. So.

Anthony Carrao:
And speaking of being prepared, shouldn't we be be preparing for digital currency?

J.R. Rotchford:
Oh, look at that Segway. That was amazing. I would have put that right at a break time so we could tease with it. But let's talk about it. I mean, you know, the bottom line for everything we're trying to sound alarms. I shouldn't say we're the bottom line for everything I'm trying to sound alarms about is the changes that I'm fairly certain are coming to this country. I think there's going to be problems with the stock market. You know, I don't think what we've seen yet this year is it? I think it's going to get worse. I am sorry to say this. I think the housing market is going to have a huge problem. You know, I we had a buyer's market on steroids. Well, I have a feeling, you know, when things are on a pendulum and they swing, we are about to have a seller's market on steroids. And that is not good in a really high inflationary time. You know, the obvious things, taxes are going to go up. You know, we're going to talk about the $600 limit on Venmo and Zelle. Again, it's all coming. The granddaddy, as you say, digital currency, you know, stock market, housing market, Great, great, great. I believe the banks are going to shut their doors other than a select few. They're all going to shut their doors at first and then a select few are going to be on the dole of the government to manage the digital currency. But the digital currency, there is no way that it is not coming. That's my opinion. You know, I don't have a crystal.

Anthony Carrao:
Ball, not even really opinion at this point. There's so many articles and things that they've set up in laws and that executive order we've talked about like they're making a push for this. All currency comes to an end at some point and ours is kind of run its course. So they're going whether the digital age this part something new, but if it wasn't digital, it'd probably be a different sort of fiat currency that would be coming.

J.R. Rotchford:
Very true. Well, let's do this. Why don't we take a break real quick here and then we'll come back and we'll dig into it a little bit deeper. So make sure you ask us questions. Team@AnotherMoneyShow.com. Check out our website and other money qcom. Make sure you're listening to our past episodes. You can find us anywhere you find podcasts, so search us online or give us a call. 623 523 0444. Thanks for being here.

Producer:
You're listening to Another Money Show. To learn more and contact J.R. and Anthony visit AnotherMoneyShow.com. You're listening to Another Money Show.

J.R. Rotchford:
Welcome back to Another Money Show. Thank you so much for being with us, as always. I'm J.R. and I'm with Anthony and our wonderful producer, Jim. And we're just glad that you joined us. So getting right back into digital currency. You know, the whole thing is change. Change scares people. Change might be scary, but it's inevitable. So either you get ready for it and do what you can before it happens or you don't. And we want our clients, our family, our friends to at least, at the very least not be blindsided by what we believe is coming. And like you said, there's no way it's not coming. You have all of these different vetted, verified articles. You've got executive order 14067. Let me throw that out again. I've been throwing it out since March, so it tells you exactly what's coming. And yet people are still not seeming to believe it's true. You know, I always bring up normalcy bias. We're really, really stuck. It's a lot safer. It's a lot more comfortable to keep your head in the sand. And unfortunately, the time is coming near. You know, look, look at our debt. 31 and a half trillion. You know, the government is going to default and this digital currency is going to mask that. The way that we can say our country is still strong is we're going to change things. So it's coming at us. When we look around, when we look at people, you know what, who's going to get affected? Know, I've said for a long time the rich get richer, The poor just hover.

J.R. Rotchford:
The middle class is shrinking. If you have massive wealth, what you probably also have more than one home. You have opportunities. You can still go to Belize or Aruba or somewhere if you if you wish. You know the poor. We're a compassionate nation. We make sure we help people. You know, Section eight, we give phones and airtime and we help people. When you're the middle class, you're the ones that are going to be affected the most. Your life is going to change the most. So we need you to know about this. When you look at how this seems like it's going to play out, the states are supposed to trump the federal government with rights. Did you know that? I mean, it's supposed to be where the federal government, you know, is less powerful for the states. That has changed. You have, I believe it's four different states that are doing something about this digital currency. Yeah, it's Utah, Nevada, Wyoming and New Hampshire. They're issuing something called go backs. And Anthony, you and I did talk about this on a show a couple of months ago. You know, it's a way to basically bring back the currency we're supposed to use. You know, did you realize that the fiat currency, the dollar bill, did you realize that that's not constitutional? Did you know that, Anthony?

Anthony Carrao:
I don't know that I did, actually. I take that back. We heard Randy talk about that a while back in one of his constitutional meetings. But that was news to me. I mean, outside of him bringing up, I had no idea, you know, in finding out that the state should have more rights than the federal government was new to me, too. You know, we didn't really get taught the Constitution in school. You would think that's kind of important thing to cover. But I had no idea.

J.R. Rotchford:
You would think I mean, if people understood it, if they read it and understood it. I mean, we're at the end days of that, too. I'm so sorry to say so. Yeah. Randy Randy is very much, you know, he he's ahead of his time. A lot of people think that Randy is you know, they basically say that he's too extreme. It's like, really, you're extreme because you believe the Constitution, you know, is a good thing. I mean, that scares me. You know, if I was Randy, what I would tell you, Article one, Section eight of the US Constitution empowers Congress to coin money and regulate its value thereof. Article one, Section ten specifies that no state shall make anything but gold and silver coin. A tender in payments of debts. What I just said means that if our dollar isn't backed by gold and silver, if we're not physically using gold and silver, we are using something that is not legal. And how many people know that 2%, maybe maybe 3% of the country knows that what we're doing has been a Ponzi scheme. So it's problematic. And and you know what's funny? This thing being in violation of the Constitution, it's been accepted. You know, if you say, I'm not going to pay my taxes, I'm not going to you know, I'm not going to do whatever, you're going to be put in jail. I mean, it's it's no baloney that that the government is basically we are we are slaves in this country. Wow. That's getting kind of heavy, isn't it? Why don't we do this? Why don't we ease into the next break and then let's talk a little further about this digital currency. Let's air this.

Anthony Carrao:
Out. Yeah. I want to hear more about that article about the states making. Push is because I knew about the gold backs, but I didn't realize it was a push for them to fight. I just thought it was a I don't know, I just kind of liked him. But in the meantime, we're going to commercial. You can find us at Another Money Show.com. Listen to Another Money Show wherever you subscribe to podcasts. And we will be right back.

Producer:
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Producer:
At Rotchford and Associates. We know you've worked hard to earn your money and you've worked even harder to save it when it comes to wealth management and planning for retirement, J.R. Rotchford and his team of specialists have been helping individuals, families and business owners find financial freedom at their veteran-owned firm for more than 25 years. Give us a call now at 623 523 0444. This is Another Money Show. Except this one's different. This one will actually keep you awake.

J.R. Rotchford:
Welcome back to Another Money Show. Thank you for being with us. So when Jim wrote earlier on our little screen, if you lose faith in institutions, you lose faith in our country. That is really that is really important. I mean, I read something on Zero Hedge, one of my favorite news sources. You know, after Facebook, of course, I read on Zero Hedge something. Let me read a little sentence from me. Personal and political freedoms are inseparable from economic freedom. To this end, economic freedom is contingent upon an economy that transacts using honest money that's free from coercion. Does that make sense? I mean, when you when you look at we're a free country, we're not Russia, We don't have to be issued toilet paper. We you know, this is still a free country. But is it if you control my rights, if you control you know, if the government gets to say yay or nay, whether a woman has abortion, if the government gets to take away things from me, you know, don't forget, in 1933, the government confiscated gold. You know, I think you could have personal effects, but if you had gold coins, gold bars, they took it. How is that not coercion? And that was in 1933. You know, I mean, when you look at we talk about gold backs for states are on board with these gold backs. We need to have 50 states on board. We need to tell the federal government back off. We need the people to be free. We need the people to innovate. We need the people to to work these problems out. You know, what did Reagan say? The government is is not the solution.

J.R. Rotchford:
It is the problem. I don't want to misquote, but I mean, we have so many issues and it's what scares me if we the people that have a lot of gold and silver and if the dollar gets taken out of the world reserve currency, if we go to a digital currency, there's people saying, well, I have gold and silver, I can barter. You know, part of the problem with that, only about 12% of you have it. So what are you going to do, Barter amongst yourselves? You know, you can trade me gold for silver. You know, what you really need to trade it for is food. So but if the government can come in and confiscate things that that gives me, it scares me. You know, the the silver lining to some of this people are waking up, you know, when when we go to a digital currency, will it be too late? You know, is that going to change everything and anything we've been saying, it just doesn't matter anymore. I don't know. I don't have a crystal ball. The country has never been at a crossroads like this, you know, on so many levels. You know, the political division, you know, when you when you look at the disparity between the haves and the have nots, when you look at all of the media basically pushing it as at each other, this is all uncharted territory. You know, when when we talk about what to do about things, we do have to hope and pray that we get through things somewhat unscathed. You know what you talked about Silverbacks. Isn't that something you just saw?

Anthony Carrao:
Oh, yeah. Well, you're talking about the gold backs with those four states. And the sight that I was buying my front mine from was called Defy the Grid. And I looked back in there recently and it looked like they had their sold out, but they had silver backs too. So I'd be curious to see if those if it goes to gold and silver as the back end. So I'm curious again, the gold backs I purchased before just because I thought they were cool. But to hear that it's a state run initiative. To kind of coin their own currency again and take that back their constitutional right. I mean, it's interesting. That's new to me. See, I'm learning stuff on this show, too.

J.R. Rotchford:
That's a good thing. That's what we're here for. You know, we talk about we're trying to educate and inform and hopefully entertain. We want people to go further. If there's something that you hear on our show. Reach out to us. Let's talk about it. Let's see if it affects you personally. You know, do a little research, go further, look up gold backs. You know, I for the very first time about a week ago, I heard it on the on a different station, but on the radio here in Phoenix. And I was I was like, wow, You know, we heard about it through Randy at first shout out to Randy. We we hear a lot of things from Randy, and then we dig into them right away. And everything he ever says has been right. So give him that.

Anthony Carrao:
Randy Miller has doesn't he have a radio show, too?

J.R. Rotchford:
I don't think so. I know he does. He does these lengthy commercials on a station out of Wittenberg, but I don't think he has a full show. He needs one.

Anthony Carrao:
I was going to say we could promote if he did and we'll just have him on our show.

J.R. Rotchford:
That would be good. We you know, we have to keep it financial. I mean, we have to make sure that it doesn't you know, Randy is very politically minded, which obviously it's important. It's just I want to make sure it stays a good fit for our show. So, you know, we're always telling people we're not going to go political, which is very difficult to do because that's so much in our face. But we have to try not to. So back to the digital currency. You know, we've shouted to you that the executive order in March told you what was coming. You know, I got in trouble from Anthony because they listed dates in there of when this had to be. They had to have answers to the government. The dates came and went and there were no answers, which actually scares me worse because that makes me think that they're there. You know, they want to keep everything quiet and behind doors until we're ready to flip the switch. So and you know, something for you to jot down while you're resting, look up something called the New York Innovation Center. This New York Innovation Center is is one of the institutions that's doing the test we're in right now. We have told you that there is what is it, ten, ten banks, MasterCard, Wells Fargo.

Anthony Carrao:
Oh, it's yeah, it's a 12-week program.

J.R. Rotchford:
Yes, it's going on. I mean, it was launched the Wednesday before Thanksgiving. It's basically a simulated test of all of our financial transactions. Picture how huge that is, all of the financial transactions going on right now. There's also a separate ledger doing a test, using a digital platform. You know, our new currency, it's not going to be Bitcoin. You know, the government, the central bank, digital currency, they're going to have to get rid of Dogecoin, Shiba Inu, Bitcoin, etherium ripple, whatever these that are still out there. This is going to be a blockchain technology, but it's going to be the government's coin. So when they in 1933 seized gold, now they're going to have to seize our our paper money, they're going to have to seize Bitcoin and that sort of thing or just shut it down. I mean, just let the system go dark and then we lose all our money and, you know, the autonomy which drew people toward it. You know, you're going to say, well, it was mine, I want it back. Who are you going to ask for it back? If you lose your password, you can't get your Bitcoin. So what are you going to do?

Anthony Carrao:
And you know, all the private digital currencies that have been allowed to run amok and like, oh, you know, we're we're going to be decentralized, we're not going to use the government and the government's kind of just let it go for now. But do you think when they have their own digital currency, they're going to allow for privatized digital currency? Do you think they'll allow competition when they have their own? And I mean, luckily crypto has done a good job of destroying itself. I mean, losing billions for clients. And we made a joke about Janet Yellen and the CEO of FTX that Sam Bankman-fried or whatever his name is, and saying, you know how they just went bankrupt, lost all this money. But he's scheduled to speak at this summit for The New York Times. And we're like, well, there's no way. There's no way. Well, he was there. He was there through Zoom, right, because he's still hiding out in the Bahamas. So I just think that's hilarious that they have people from Netflix and TikTok and Janet Yellen and then also this guy that just lost billions of billions of dollars to say his speak. And he's got the nerve to get out there and be, you know, say it's not his fault. It wasn't fraud. It was just a casual accident. And it's insane to me.

Anthony Carrao:
I mean, you've got some senators reaching out on Twitter saying how they're congratulating him for being open about the issue. Why aren't we extraditing this guy? I mean, he's just stolen billions of dollars from people, yet he's just allowed. Run free. It's very, very funny how they pick and choose their battles. I mean, with the Venmo transactions is $600. If you transport money from a friend or family and you're giving them, but now you're going to get 1090 nines for that. Yet these people are allowed to lose billions and the government doesn't care. I mean, that's it wasn't. I think I use this an example in a past show, but I remember reading. The collapse of France. France going bankrupt. Hundreds of years ago. How they what transpired next is they just started essentially taxing the poor. They just took whatever little that people had left and they win after that. I mean, we can talk about the debt ceiling. We've reached our debt ceiling again as a country. So what are they going to do? Are they going to cut spending? No. This administration thrives on all the money that they're going to spend, be it good causes, but they're going to spend money that they don't have. They pride themselves on their ability to spend money. But we've.

J.R. Rotchford:
Reached causes. What are good causes to you? I mean, I'm watching this last year, and the good cause is I'm not seeing that. Why don't we take care of our homeless population? Why don't we take care of the veterans that need medical care? Good causes, in my opinion, is not Ukraine enough? You know, Ukraine might actually turn out later to be a cesspool and in a place that was crooked for money laundering. Speaking about an FFT tie and this whole thing with FFT, you've got Bernie Madoff in jail going, hey, hey, why isn't Sam next door to me? You know, put on your tinfoil hat. Anthony. What if, for example, FFT was very much orchestrated? What if it was a money laundering scheme? There I said it. So there's a van outside of my house. People with ski masks can pull me out of my house and buy my house. Anthony, what's your home address? Let me tell you where I am right now.

Anthony Carrao:
No, that's very tinfoil hat, but I'm in office. I mean, at this point, maybe. I mean, they need private cryptos to collapse so that they can take over with their own. But maybe some of this was orchestrated.

J.R. Rotchford:
And the private crypto is turned into real money. You know, the real money. There were donations to political parties. I mean, this whole fugazi, fugazi digital currency where you have nothing to show from it. Not exactly true. I'm told a lot of real money transacted and changed hands. So no, I don't think it's tinfoil hat he at all. I think you have to look around in this country and think so many things are so wrong. I mean, you know, I know our show is a little bit of a wake up call and some people don't want to be woken up. You know, they're comfortable and their slumber. But too many things are way off. So in this digital currency, it's it's going to get rid of your freedom When they track every dollar you spend, you know, God forbid we go to social stores and we go to, you know, you're not going to get food if you decide that you want to buy certain things, you know that that executive order I keep referencing, you know, I mean, I hate to say this, but the digital assets must mitigate climate change and pollution that's written in there and promote financial inclusion and equity. What does that mean? It's socialism. Straight out. It's saying that if we have an agenda, that's what we're going to This is the money that's going to be used for our agenda. It's saying.

Anthony Carrao:
Remember, remember back we talked about those banks in China. That was a money laundering scheme kind of was happening with where if you made a deposit, it didn't go into the bank. It got funneled overseas almost immediately. Well, people went out and protested those banks and then got red carded on because the government was able to track them through their phones and know that they were a part of the protest and essentially they lost their privileges to public transportation, public libraries, miscellaneous, things like that. But because they were able to track them for protesting all the money that was lost. So to think that that can't happen here 100%, it can happen here. And if they can track every single dollar you spend down to the last penny because it's all automated and automated through the Fed, then things like that can happen here. So again, that's we've run out of time. Again, that's our show for today. If you like what you heard, if you have questions on any of the topics we talked about, if you want to sit down with us to review your personal situation, you can reach us. At TM at Another Money Showcase. You can find us on the web at Another Money Show accom or you can listen to Another Money Show wherever you subscribe to podcast. Remember, there are no minimums. There's no cost for appointments. There's really nothing to lose by getting a second opinion on your financial situation. And I also quickly want to bring up for one case. I've had four one case with multiple employers. If you're working, you can't move them. We can't be your advisor, but we can review them with you. We can tell you what your allocation options are. We can talk about the safe buckets. If you're tired of losing money in your 41k and hate that nobody is helping you with it, we will be the ones to do that. So in the meantime, we will see you next Saturday right here on 960, The Patriot at noon.

Producer:
Thanks for listening to Another Money Show. You deserve to work with a private wealth management firm that will strategically work to protect your hard-earned assets to schedule your free no obligation consultation. Visit AnotherMoneyShow.com.

Producer:
Investment Advisory Services offered through Brookstone Capital Management, LLC BCM A registered Investment advisor, BCM and Rotchford Financial are independent of each other. Insurance products and services are not offered through BCM, but are offered and sold through individually licensed and appointed agents. Investments involve risk and, unless otherwise stated are not guaranteed. Past performance cannot be used as an indicator to determine future results.

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